can someone dumb it down for me...what are Bitcoins and why should i invest in them?

Discussion in 'The Howard Stern Show' started by SIPAWITZ, Feb 28, 2014.

  1. SIPAWITZ

    SIPAWITZ Bialy Whore Banned User

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    [​IMG]

    It's all very confusing
     
  2. ice cream

    ice cream Well-Known Member

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    it's a form of internet currency

    takes out all the middleman bullshit




    more to come
     
  3. harlock

    harlock ancora imparo Gold

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  4. SIPAWITZ

    SIPAWITZ Bialy Whore Banned User

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    You have some?
     
  5. lastlaugh

    lastlaugh Well-Known Member

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  6. Avery

    Avery Well-Known Member Banned User

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    Mt Gox Files For Bankruptcy After $473 Million In Bitcoins "Disappeared"


    For a case study of a blistering rise and an absolutely epic fall of an exchange that i) was named after Magic: the Gathering and ii) transacted in a digital currency which many have speculated was conceived by the NSA nearly two decades ago and was used as a honeypot to trap the gullible, look no further than Mt.Gox which after halting withdrawals for the second (and final time) has finally done the honorable thing, and filed for bankruptcy. As the WSJ reports, "Bitcoin exchange Mt. Gox said Friday it was filing for bankruptcy protection after losing almost 750,000 of its customers' bitcoins, marking the collapse of a marketplace that once dominated trading in the virtual currency. The company said it also lost around 100,000 of its own bitcoins. Together, the lost bitcoins would be worth approximately $473 million at market prices charted by the CoinDesk bitcoin index, although the price of Mt. Gox bitcoin had fallen well below that index after it stopped bitcoin withdrawals in early February."

    The punchline: speaking to reporters at Tokyo District Court Friday after the bankruptcy filing, Mt. Gox owner Mark Karpelès said technical issues had opened the way for fraudulent withdrawals, and he apologized to customers.

    "There was some weakness in the system, and the bitcoins have disappeared. I apologize for causing trouble"
     
  7. Dilkington

    Dilkington Active Member

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    Sell everything you have and put them into bitcoins, that's my advice :giggle:
     
  8. thinman

    thinman Well-Known Member

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    Bitcoins are a digital ponzi scheme, you shouldnt invest in them.
     
  9. SIPAWITZ

    SIPAWITZ Bialy Whore Banned User

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  10. Avery

    Avery Well-Known Member Banned User

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  11. chuk

    chuk Well-Known Member

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    Stay away
     
  12. Phillipmcd

    Phillipmcd Active Member

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    You can buy drugs with them on Silkroad
     
  13. ice cream

    ice cream Well-Known Member

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    i think its a great idea and might make it,very volatile
    of course the greedy government is fighting this because they wont get a cut

    when i first learned about it 6 months ago it was at $54
    i said i like this idea i think its a good idea
    6 weeks later it was at $1100
     
  14. Dilkington

    Dilkington Active Member

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    so did someone(s) make a shit load of "real" money first (I would assume they did)?
     
  15. HS Cult Leader

    HS Cult Leader Elite Member Gold

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    It's almost the same as your vCash here, and worth about the same!

    Stories come out in the news almost daily about fraud, theft, and other scams that are close to destroying it once and for all. :secret:
     
  16. ice cream

    ice cream Well-Known Member

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    i'm looking long term..some form of bitcoins is going to be the way to go
    no stoping it
     
  17. SIPAWITZ

    SIPAWITZ Bialy Whore Banned User

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    So you buy $1000 worth of bitcoins and then I make online purchases of let's say some steaks for grilling....what's the advantage
     
  18. harlock

    harlock ancora imparo Gold

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    they should be kept on your own drive in a safe place if you have allot of them.
     
  19. Murcielago

    Murcielago Smoke me a kipper, I'll be back for breakfast

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    Its value fluctuates wildly and it is backed by nothing, kinda like the US dollar.
     
    Last edited: Feb 28, 2014
  20. SIPAWITZ

    SIPAWITZ Bialy Whore Banned User

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    The fbi got to them