Cryptocurrency: is it worth it?

nockermensch · Post by **nockermensch** » Tue Feb 25, 2014 2:13 pm

http://www.wired.com/wiredenterprise/20 ... -implodes/

Koumei · Post by **Koumei** » Tue Feb 25, 2014 2:53 pm

I'm pretty sure that's the long-awaited punchline to the joke that is Bitcoin.

It would explain the laughter, anyway.

Kaelik · Post by **Kaelik** » Tue Feb 25, 2014 3:08 pm

Yeah, I personally love that someone decided to just set up a price difference so that people would literally buy bitcoins from other people and sell them to mt gox, and then, low a behold, they just aren't going to pay out.

It is almost like, and this is hilarious, not having guys with guns who enforce fair transactions is a bug and not a feature.

name_here · Post by **name_here** » Tue Feb 25, 2014 3:35 pm

And thus a very important lesson is demonstrated about computer science: it doesn't matter how good your proof of security is if you fuck up your implementation.

Koumei · Post by **Koumei** » Wed Mar 26, 2014 3:11 am

http://buttcoin.org/silk-road-replaceme ... free-coins

Meanwhile, Denmark says "No, it's not money, the difference is if you steal it nobody gives a shit", the US says "It's not money, it's taxable property - enjoy the worst of both worlds, suckers", and most people say "It's not money, it's a symptom of mental illness".

erik · Post by **erik** » Wed Mar 26, 2014 12:12 pm

This is perfect.

Maj · Post by **Maj** » Wed Mar 26, 2014 3:12 pm

I really want to add another circle onto that and say People who know nothing about the government.

schpeelah · Post by **schpeelah** » Wed Mar 26, 2014 7:41 pm

erik wrote:This is perfect.

I thought Bitcoin was people who know too much about math and cryptography but nothing about how money works?

John Magnum · Post by **John Magnum** » Wed Mar 26, 2014 8:27 pm

Maybe its designers and initial implementers, but the biggest Bitcoin boosters don't know shit about math. Any time they try to tell you that it's not fiat, it's "backed by math", or something? That's people who know nothing about math but like invoking it as a talisman of scientificity and objectivity and impartiality.

Koumei · Post by **Koumei** » Thu Mar 27, 2014 4:49 am

THE FUTURE!