Topic: Does anyone here use the bitcoin?
Anonymous A started this discussion 10 years ago #49,717
I was paid $23,000 for BTC to my ATB (Alberta Treasury Branch) with hacked e-transferred funds and the bank said I was liable as I had they said signed an agreement that said any 'fraud funds' into my account were my liability. Lucky I had already withdrawn the money but they insisted I pay up, I said show me that agreement as I am sure my lawyer will want to review. They never billed me or showed me the agreement but they did immediately close my $20K line of credit and closed my personal account. Been almost 2 yrs so I assume they ate that one as it was their bank e-transfer that was not secure. ATB said they did not want to deal with bitcoin accounts too risky. I asked CIBC if I could do a bitcoin business with them they said no. I was trading in my personal TD account and the manager called on a Sunday evening and said stop and took my $5K line of credit away.
I also got hacked at MtGox for 100BTC and lost 7.2BTC when they closed. Suit pending. I continue to trade bitcoin and pretty much have all my loses back and have been frauded a few other times like $400, $1400, $660. I have buckled down the hatches (dual authentication) and don't blame the technology at all. It is here to stay: I am fascinated by algorithmic protocol that uses cryptographic hashes & public key cryptography to reward participants with another protocol that retains value called bitcoin for validating a ledger called the blockchain on a peer to peer decentralized transparent public network you don't have to trust.
The banks need to engage in this technology and learn it by working with subject matter experts like BTC traders as it will be a great big win win for the world and if they don't they will be eaten alive like cell phones wiping out land lines.
I also got hacked at MtGox for 100BTC and lost 7.2BTC when they closed. Suit pending. I continue to trade bitcoin and pretty much have all my loses back and have been frauded a few other times like $400, $1400, $660. I have buckled down the hatches (dual authentication) and don't blame the technology at all. It is here to stay: I am fascinated by algorithmic protocol that uses cryptographic hashes & public key cryptography to reward participants with another protocol that retains value called bitcoin for validating a ledger called the blockchain on a peer to peer decentralized transparent public network you don't have to trust.
The banks need to engage in this technology and learn it by working with subject matter experts like BTC traders as it will be a great big win win for the world and if they don't they will be eaten alive like cell phones wiping out land lines.
Big Daddy Derek !Uvm54ORbmo joined in and replied with this 10 years ago, 5 minutes later[^] [v] #646,274
*dogecoin
Fake anon !ZkUt8arUCU joined in and replied with this 10 years ago, 1 minute later, 7 minutes after the original post[^] [v] #646,275
"I got scammed out of a lot of money because of my investments in bitcoin. Therefore, bitcoin is a good investment that large banks should get involved with."
-average bitcoin user
-average bitcoin user
Metæ joined in and replied with this 10 years ago, 28 minutes later, 35 minutes after the original post[^] [v] #646,281
I'm not sold on cryptocurrency. I mean, I like the idea but why? It just seems like a circlejerk for nerds (which, admittedly, is how the internet was described in 1993). Why do I want a currency that's worth nothing, then suddenly it's worth 1200 then 600 then 300? It's just retarded and will make any kind of long term financial planning impossible.
> they will be eaten alive like cell phones wiping out land lines.
The landline companies are the cell phone companies. Apart from T-Mobile the other three major US cell phone carriers were landline phone companies. If bitcoin ever gets big, the big banks will be the main players.
The main value in bitcoin seems to be speculation and you yourself seem to be involved only to buy and sell it for USD profits. That's lovely but not any different than day trading stocks.
> they will be eaten alive like cell phones wiping out land lines.
The landline companies are the cell phone companies. Apart from T-Mobile the other three major US cell phone carriers were landline phone companies. If bitcoin ever gets big, the big banks will be the main players.
The main value in bitcoin seems to be speculation and you yourself seem to be involved only to buy and sell it for USD profits. That's lovely but not any different than day trading stocks.
Anonymous E joined in and replied with this 10 years ago, 13 minutes later, 49 minutes after the original post[^] [v] #646,283
Bitcoin: Just like any other trading. Get in. Get out when it's good.
I had 100Bt when we were joking about pizza delivery via bitcoin orders. I forgot the password to the wallet... Sad times for me. Oh well.
I had 100Bt when we were joking about pizza delivery via bitcoin orders. I forgot the password to the wallet... Sad times for me. Oh well.
DasSheeple joined in and replied with this 10 years ago, 1 hour later, 1 hour after the original post[^] [v] #646,288
Abandon bitcoin asap, it's a sinking ship now that it evolved into what it did.
Metæ replied with this 10 years ago, 1 minute later, 1 hour after the original post[^] [v] #646,289
How does banking work with bitcoin? Fractional reserve banking is inherently unstable and only works with a central bank which can print massive amounts of cash to inject liquidity and guarantee deposits. Btc can't be printed and the result will be regular bank runs on btc banks.
Big Daddy Derek !Uvm54ORbmo joined in and replied with this 10 years ago, 6 hours later, 8 hours after the original post[^] [v] #646,321
FuckAlms !vX8K53rFBI joined in and replied with this 10 years ago, 1 hour later, 9 hours after the original post[^] [v] #646,323
@OP
> I am fascinated by algorithmic protocol that uses cryptographic hashes & public key cryptography to reward participants with another protocol that retains value called bitcoin for validating a ledger called the blockchain on a peer to peer decentralized transparent public network you don't have to trust.
Code salad.
> I am fascinated by algorithmic protocol that uses cryptographic hashes & public key cryptography to reward participants with another protocol that retains value called bitcoin for validating a ledger called the blockchain on a peer to peer decentralized transparent public network you don't have to trust.
Code salad.
Big Daddy Derek !Uvm54ORbmo replied with this 10 years ago, 6 minutes later, 9 hours after the original post[^] [v] #646,326
FuckAlms !vX8K53rFBI replied with this 10 years ago, 41 minutes later, 10 hours after the original post[^] [v] #646,333
Anonymous I joined in and replied with this 10 years ago, 10 minutes later, 10 hours after the original post[^] [v] #646,336
Big Daddy Derek !Uvm54ORbmo replied with this 10 years ago, 20 minutes later, 10 hours after the original post[^] [v] #646,338
@646,333 (FuckAlms !vX8K53rFBI)
I implied, in fact, that OP's post is, in actual fact, above your novice-like comprehension level. Thanks
I implied, in fact, that OP's post is, in actual fact, above your novice-like comprehension level. Thanks
FuckAlms !vX8K53rFBI replied with this 10 years ago, 12 minutes later, 11 hours after the original post[^] [v] #646,342
Big Daddy Derek !Uvm54ORbmo replied with this 10 years ago, 47 minutes later, 11 hours after the original post[^] [v] #646,344
Anonymous J joined in and replied with this 10 years ago, 9 minutes later, 12 hours after the original post[^] [v] #646,345
Big Daddy Derek !Uvm54ORbmo joined in and replied with this 10 years ago, 27 minutes later, 12 hours after the original post[^] [v] #646,348
Metæ replied with this 10 years ago, 1 hour later, 13 hours after the original post[^] [v] #646,368
@646,336 (I)
LOL anyone who got bitcoin before 2013 is a gazillionaire and anyone who bought before late 2014 has lost a lot of money.
I'd rather put my money in Beanie Babies.
LOL anyone who got bitcoin before 2013 is a gazillionaire and anyone who bought before late 2014 has lost a lot of money.
I'd rather put my money in Beanie Babies.
FuckAlms !vX8K53rFBI replied with this 10 years ago, 3 hours later, 17 hours after the original post[^] [v] #646,413
Big Daddy Derek !Uvm54ORbmo replied with this 10 years ago, 1 hour later, 18 hours after the original post[^] [v] #646,445
FuckAlms !vX8K53rFBI replied with this 10 years ago, 1 hour later, 19 hours after the original post[^] [v] #646,485
Big Daddy Derek !Uvm54ORbmo replied with this 10 years ago, 1 hour later, 21 hours after the original post[^] [v] #646,515
@previous (FuckAlms !vX8K53rFBI)
Reported for attempted unauthorized use of an official Big Daddy Derek™ may-may (pronounced as one word). Thanks.
Reported for attempted unauthorized use of an official Big Daddy Derek™ may-may (pronounced as one word). Thanks.