Bitcoin is a lot like egold. Egold was shutdown after having many HYIPs/Ponzis.

rini17

sr. member

Activity: 340

Merit: 250

GO http://bitcointa.lk !!! My new nick: jurov

Quote from: FlipPro on August 21, 2012, 09:29:06 PM

Quote from: proudhon on August 21, 2012, 09:26:28 PM

Quote from: JupeB on August 21, 2012, 06:43:05 PM

Yeah, except that Bitcoin cannot be shut down because it is decentralized - big difference from eGold.

True. But lots of people can stop using and those that aren't yet can be motivated to avoid it if it's continually associated with scams and is a pain in the ass to use.

Ponzi schemes should not effect any true Bitcoin users. If you are in it for the Ponzis, and you loose out on a PONZI, then you have no valid argument. You got into these type of "investments" knowing the risks involved. If you are a true BTC holder the ponzis should not effect you.

I am inclined to disagree. I certainly affects the "true Bitcoin user" when:

* significant amount of bitcoins were stolen by hackers/scammers (my uneducated guess is that it's at least 10% of all coins at the moment) and can flood the market anytime they find suitable cash out method, causing market earthquakes/panics.

* I have to check every time my bitcoins aren't tainted before I deposit them to mtgox or similar place

I can manage around it because I follow the forums/irc every day. But for layperson any of this can be very nasty surprise. And all that assuming it's someone who knows how to securely use his/her wallet, don't let me even start about that!

BrannigansLaw

hero member

Activity: 603

Merit: 500

Quote from: GernMiester on August 22, 2012, 07:57:03 PM

Posted a while ago that BTC was like egold.. Everyone snickered.
I sell coins almost as fast as I get them and have made real money. Sold at like 13 or something recently. Thanks to the nitwits for buying my coins and losing at least 3 bucks on each one.. LOLOLOLOLOLOLOLOLOLOLOL.
Yeah sure, some cryptocurrency will replace fiat.. The average user cant even copy and paste among many other things but somehow they will use BTC.

Yeah but the average user can still use a card for payments. I only really only pay in cash if I'm looking to haggle (its appealing) or buy sweeties Cheesy

Who really uses cash nowadays? They only need to copy and paste for online payments.

Le Happy Merchant

hero member

Activity: 634

Merit: 500

Quote from: GernMiester on August 22, 2012, 07:57:03 PM

Posted a while ago that BTC was like egold.. Everyone snickered.
I sell coins almost as fast as I get them and have made real money. Sold at like 13 or something recently. Thanks to the nitwits for buying my coins and losing at least 3 bucks on each one.. LOLOLOLOLOLOLOLOLOLOLOL.
Yeah sure, some cryptocurrency will replace fiat.. The average user cant even copy and paste among many other things but somehow they will use BTC.

ur a faget

GernMiester

sr. member

Activity: 285

Merit: 250

Posted a while ago that BTC was like egold.. Everyone snickered.
I sell coins almost as fast as I get them and have made real money. Sold at like 13 or something recently. Thanks to the nitwits for buying my coins and losing at least 3 bucks on each one.. LOLOLOLOLOLOLOLOLOLOLOL.
Yeah sure, some cryptocurrency will replace fiat.. The average user cant even copy and paste among many other things but somehow they will use BTC.

benjamindees

legendary

Activity: 1330

Merit: 1000

Quote from: bitcoinBull on August 22, 2012, 12:00:11 AM

LR will be gone.
Pirate will be gone.
Bitcoin will remain standing.

justusranvier

legendary

Activity: 1400

Merit: 1013

Just think of the embarassment Bitcoin could have saved William J. Jefferson. Bitcoins are far easier to accept discretely than a freezer full of cash.

Boussac

legendary

Activity: 1221

Merit: 1025

e-ducat.fr

Quote from: cypherdoc on August 21, 2012, 11:45:39 PM

yet another thread where the OP makes a FUD statement and then disappears unwilling to defend his position b/c he knows he can't.

+1
Lots of redundant FUD in trollish threads

RodeoX

legendary

Activity: 3066

Merit: 1147

The revolution will be monetized!

Quote from: kwukduck on August 22, 2012, 07:51:14 AM

i herd rumors the govt is going to shut down and seize all bitcoin servers from the owners next month!

I also heard the pyramids were built by aliens. The world is full of B.S. You should ask the fool who told you that "what servers, there are no bitcoin servers?" And how are they going to get the bitcoins back when no one even knows who owns them? Are they coming to peoples houses to look for USB sticks? Also, will we be invading other countries to get them?
Sorry bro, but I gota roll my eyes at this one. Roll Eyes

cypherdoc

legendary

Activity: 1764

Merit: 1002

Quote from: justusranvier on August 22, 2012, 08:53:32 AM

Quote from: Endgame on August 22, 2012, 07:53:57 AM

Bitcoin is an impressive enough innovation that I do not think governments would try and shut it down unless it became a hotbed of criminal activity.

Your understanding of the goals and motivations of the people which make up governments appears to be based on a fairy tale.

As soon as Bitcoin grows to the point at which it can support large scale money laundering it will be useful for moving kickbacks, bribes and misappropriated funds, at which point politicians and bureaucrats will enthuastically embrace it.

nice.

interlagos

hero member

Activity: 496

Merit: 500

Quote from: Piper67 on August 22, 2012, 09:08:30 AM

Quote from: kwukduck on August 22, 2012, 07:51:14 AM

i herd rumors the govt is going to shut down and seize all bitcoin servers from the owners next month!

That's unnecessary, all they have to do is raid the Bitcoin offices and shut down their building. Bitcoin is history... Grin

Yes, and arrest the Bitcoin CEO...

RodeoX

legendary

Activity: 3066

Merit: 1147

The revolution will be monetized!

Quote from: JupeB on August 21, 2012, 06:43:05 PM

Yeah, except that Bitcoin cannot be shut down because it is decentralized - big difference from eGold.

+1
That makes bitcoin nothing like eGold.

bbit

legendary

Activity: 1330

Merit: 1000

Bitcoin

omg!

Le Happy Merchant

hero member

Activity: 634

Merit: 500

Quote from: Gabi on August 22, 2012, 06:57:04 AM

Let's hope they don't shutdown bitcoin Shocked

who is 'they' ?

if 'they' come for my coins I will be the 'they' that stops them.

RaTTuS

hero member

Activity: 792

Merit: 1000

Bite me

Quote from: Piper67 on August 22, 2012, 09:08:30 AM

Quote from: kwukduck on August 22, 2012, 07:51:14 AM

i herd rumors the govt is going to shut down and seize all bitcoin servers from the owners next month!

That's unnecessary, all they have to do is raid the Bitcoin offices and shut down their building. Bitcoin is history... Grin

don't be silly
all you have to do is advertise a 10% interest rate and get people to invest in it and then vanish
[this is after you have stolen as much as you can from your previous hedging fund and trading station]

the other way is to just switch the internet off and then it will stop.
dead easy

waspoza

hero member

Activity: 602

Merit: 508

Firstbits: 1waspoza

Quote from: justusranvier on August 22, 2012, 08:53:32 AM

Quote from: Endgame on August 22, 2012, 07:53:57 AM

Bitcoin is an impressive enough innovation that I do not think governments would try and shut it down unless it became a hotbed of criminal activity.

Your understanding of the goals and motivations of the people which make up governments appears to be based on a fairy tale.

As soon as Bitcoin grows to the point at which it can support large scale money laundering it will be useful for moving kickbacks, bribes and misappropriated funds, at which point politicians and bureaucrats will enthuastically embrace it.

+1

Piper67

legendary

Activity: 1106

Merit: 1001

Quote from: kwukduck on August 22, 2012, 07:51:14 AM

i herd rumors the govt is going to shut down and seize all bitcoin servers from the owners next month!

That's unnecessary, all they have to do is raid the Bitcoin offices and shut down their building. Bitcoin is history... Grin

justusranvier

legendary

Activity: 1400

Merit: 1013

Quote from: Endgame on August 22, 2012, 07:53:57 AM

Bitcoin is an impressive enough innovation that I do not think governments would try and shut it down unless it became a hotbed of criminal activity.

Your understanding of the goals and motivations of the people which make up governments appears to be based on a fairy tale.

As soon as Bitcoin grows to the point at which it can support large scale money laundering it will be useful for moving kickbacks, bribes and misappropriated funds, at which point politicians and bureaucrats will enthuastically embrace it.

Endgame

sr. member

Activity: 412

Merit: 250

Bitcoin is an impressive enough innovation that I do not think governments would try and shut it down unless it became a hotbed of criminal activity. Basically the legitimate uses need to always outweigh the illegitimate uses. I do not think bitcoin is in any danger of being 'shut down' at the moment, because the illegitimate uses are the exception rather than the rule.

kwukduck

legendary

Activity: 1937

Merit: 1001

i herd rumors the govt is going to shut down and seize all bitcoin servers from the owners next month!

Gabi

legendary

Activity: 1148

Merit: 1008

If you want to walk on water, get out of the boat

Let's hope they don't shutdown bitcoin Shocked

Topic: Bitcoin is a lot like egold. Egold was shutdown after having many HYIPs/Ponzis. (Read 4572 times)