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(Sun News Network)   Bitcoin ATMs, coming to a city near you   (sunnewsnetwork.ca) divider line 88
    More: Interesting, Silk Road, mockup  
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2517 clicks; posted to Geek » on 27 Oct 2013 at 4:42 PM (24 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-10-27 03:51:42 PM
And I thought my bank account was worthless.
 
2013-10-27 03:56:00 PM
Wonderful.

I'm sure merchants all over the greater Vancouver area are just thrilled about accepting Bitcoins as payment.
 
2013-10-27 04:06:04 PM
What if there's not an arcade anywhere near me?
 
2013-10-27 04:45:45 PM
Bitcoins, lol.
/the only appropriate response to Bitcoins anything
 
2013-10-27 04:46:55 PM

Rev.K: Wonderful.

I'm sure merchants all over the greater Vancouver area are just thrilled about accepting Bitcoins as payment.


Well, hopefully people who have already spent real money on this monopoly money can use these things to turn the highly traceable digital files back into untraceable cash. Imagine if there had been Beanie Baby ATMs in the late 90s.
 
2013-10-27 04:50:44 PM
My problem with bitcoins is that it's been pushed with a political/economic ideology that's absolute horseshiat. It's as heterodox as it gets.
 
2013-10-27 04:54:02 PM
So what are you going to buy with them since the Silk Road is gone?
 
2013-10-27 04:57:08 PM
That's funny. The currency fluctuates by hundreds of dollars a day, transactions can take HOURS (meaning you cant reliably play trading games with it)

Oh, and everyone WITH bitcoins currently can't get them back to real money. IT's all locked up in MTGO:X.  (Magic: The gathering online: exchange)

If you can even get your bitcoins out of MTGO:X, What farking moron is going to pay for them in real money since the market is totally broken right now.

And get this, It costs more energy to mine bitcoins then you could ever make off them. Even with the state of the Derp Application Specific Integrated Circuits, being used to mine now.

If you want to see what libertarian government is like, Look at bitcoin nutters.

Spending real money to make fake money they can spend on drugs, only you cant buy drugs anymore with it.
 
2013-10-27 04:57:16 PM
Once sort-of-knew someone who stated quite proudly once that "all of my liquid funds are in Bitcoin".

I laughed really, really hard.

Bitcoin is farking stupid but the fans are worse. Cool, let's convert over all our currency into something we can't use to buy shiat, and we'll tell everyone else to as well because it's just BETTER. Even though they can't use it to buy food or power or water or shelter or Internet or most goods and services because everyone wants actual money which is actually backed by shiat.
 
2013-10-27 04:59:06 PM

A Terrible Human: So what are you going to buy with them since the Silk Road is gone?


Child sex slaves, and other equally useless internet currencies that are legally distinct from Bitcoin but address none of the fundamental problems with the entire system.
 
2013-10-27 04:59:21 PM
Oh and I forgot the derping fans going "We don't need regulation! This is Bitcoin, the Internet routes around regulation!"

Yeah, because "unregulated" and "financial services" are two things that just go farking brilliantly together.
 
2013-10-27 05:02:58 PM
PortsmouthFarker:
Yeah, because "unregulated" and "financial services" are two things that just go farking brilliantly together.

Sure they do. If you enjoy stealing worthless internet play money people spent real money on.
 
2013-10-27 05:08:16 PM
i.imgur.com
Why would I go to one of those, when I can just turn on my NES?

i.imgur.com
Plus, I have it on good authority you should never go ATM.
 
2013-10-27 05:12:24 PM

fluffy2097: PortsmouthFarker:
Yeah, because "unregulated" and "financial services" are two things that just go farking brilliantly together.

Sure they do. If you enjoy stealing worthless internet play money people spent real money on.


Eh, as funny as it is to see, I'd still rather there be controls against well-meaning, naive people getting ensnared by libertarian dickbags hawking their magical autism kroner as an amazing investment. You know, like there is with pretty much anything else one can sell as an investment.  It's the same sort of complete disregard for any form of authority that also leads to things like the shutdown of Mt. Gox and the like because the Bitcoiners either don't know about KYC/AML requirements for currency exchange, don't care about them or wilfully ignore them either because they cost money to implement or would be ideologically against them. I mean, for fark's sake, believe what you want about big government regulation or whatever, but don't just ignore it exists so you can make a quick profit and then cry and flap your arms because the big nasty government prosecutes you for breaking the law.

I always like to ask the idiots why, if their amazing cryptocurrency is going to revolutionise the world and make banks irrelevant, the banks aren't getting in on it as well. Nobody has ever coherently answered this in a way that doesn't basically mean Bitcoin is farking retarded.
 
2013-10-27 05:12:59 PM

Sneakernets: My problem with bitcoins is that it's been pushed with a political/economic ideology that's absolute horseshiat. It's as heterodox as it gets.


Um, what do you think "heterodox" means?
 
2013-10-27 05:20:35 PM

PortsmouthFarker: Eh, as funny as it is to see, I'd still rather there be controls against well-meaning, naive people getting ensnared by libertarian dickbags hawking their magical autism kroner as an amazing investment.


https://bitcointalk.org/index.php?topic=3066.0

buttcoin.org

These are the people who are getting ripped off.

I'm perfectly ok with them being ripped off.
 
2013-10-27 05:21:28 PM
So, if you want to move money from a bank account to a PayPal account via BitCoins to reduce your electronic trail as far as possible, what steps should you take?
 
2013-10-27 05:22:14 PM

fluffy2097: PortsmouthFarker: Eh, as funny as it is to see, I'd still rather there be controls against well-meaning, naive people getting ensnared by libertarian dickbags hawking their magical autism kroner as an amazing investment.

https://bitcointalk.org/index.php?topic=3066.0

[buttcoin.org image 529x640]

These are the people who are getting ripped off.

I'm perfectly ok with them being ripped off.


The ironic thing is they could probably just trade their loli pictures and they would be more useful as a medium of value exchange than the coins.
 
2013-10-27 05:23:23 PM

omnibus_necanda_sunt: So, if you want to move money from a bank account to a PayPal account via BitCoins to reduce your electronic trail as far as possible, what steps should you take?


Step one. Don't use bitcoins.

Step two. Don't use bitcoins.

Step Three. Don't use bitcoins.

/It's not secure
//It won't launder your money
///you can't even get dollars back out at this point.
 
2013-10-27 05:24:56 PM

PortsmouthFarker: The ironic thing is they could probably just trade their loli pictures and they would be more useful as a medium of value exchange than the coins.


Until everyone has copies of all their child porn and then what? The currency falls flat on its face unless you have new children to exploit.

/We've built a currency based on sex slavery! Down with filthy american dollars!
 
2013-10-27 05:25:51 PM

itcamefromschenectady: Um, what do you think "heterodox" means?


It's a dox that doesn't like dix.
 
2013-10-27 05:28:51 PM
Reminds me of pachinko machines, you put money in, you hope what comes out is either valued the same or more than what you just inserted and hope that someone some where accepts what you get out.

Also Bitcoins = coupins! http://www.youtube.com/watch?v=ClQuI8ds_dg especially since Silk road shut down, guess the alpaca fur sock business is booming in Canada.
 
2013-10-27 05:30:19 PM
Step 1:  Install BitCoin ATM
Step 2: Install a camera facing the BitCoin ATM
Step 3: Send list of ATM users to the cops
Step 4: Collect thousands of dollars in reward money for all of the kiddie didler/drug users you helped catch
Step 5: Enjoy your town now that all of the kiddie diddlers and drug users are behind bars.
 
2013-10-27 05:31:50 PM

fluffy2097: PortsmouthFarker:
Yeah, because "unregulated" and "financial services" are two things that just go farking brilliantly together.

Sure they do. If you enjoy stealing worthless internet play money people spent real money on.


Isn't that what EVE Online is about?

/Of course, EVE Online currency is not intended to replace real currency or be usable to buy real services. And it's intended to be for a game. So there's that.
 
2013-10-27 05:32:46 PM

fluffy2097: /We've built a currency based on sex slavery! Down with filthy american dollars!


At least a currency backed by sex slavery is backed by SOMETHING.
 
2013-10-27 05:34:35 PM

RogermcAllen: Step 1:  Install BitCoin ATM
Step 2: Install a camera facing the BitCoin ATM
Step 3: Send list of ATM users to the cops
Step 4: Collect thousands of dollars in reward money for all of the kiddie didler/drug users you helped catch
Step 5: Enjoy your town now that all of the kiddie diddlers and drug users are behind bars.


Except I am pretty sure using BitCoins alone is not probable cause...
 
2013-10-27 05:35:01 PM

fluffy2097: omnibus_necanda_sunt: So, if you want to move money from a bank account to a PayPal account via BitCoins to reduce your electronic trail as far as possible, what steps should you take?

Step one. Don't use bitcoins.

Step two. Don't use bitcoins.

Step Three. Don't use bitcoins.

/It's not secure
//It won't launder your money
///you can't even get dollars back out at this point.


So how do people launder money, anyway?

/I mean, besides leaving it in the back pocket when you do the wash.
 
2013-10-27 05:35:15 PM

Deadite: Reminds me of pachinko machines, you put money in, you hope what comes out is either valued the same or more than what you just inserted and hope that someone some where accepts what you get out.


It's worse then that actually. Mining bitcoins right  now requires more money in electrical power then you could EVER get out in bitcoins. (and the difficulty of the hash is going to double in the next 17 hours or so, meaning it's going to be an even worse use of your energy.

You always get out less then what you put in.

/To think the amount of processor time and energy has been wasted solving a completely worthless math problem for a completely worthless currency, when we could have been folding proteins.
 
2013-10-27 05:36:07 PM

machoprogrammer: RogermcAllen: Step 1:  Install BitCoin ATM
Step 2: Install a camera facing the BitCoin ATM
Step 3: Send list of ATM users to the cops
Step 4: Collect thousands of dollars in reward money for all of the kiddie didler/drug users you helped catch
Step 5: Enjoy your town now that all of the kiddie diddlers and drug users are behind bars.

Except I am pretty sure using BitCoins alone is not probable cause...


Even if it wouldn't be useful to get drug dealers and paedophiles, it'd be a good way to get a database of Paultards so they can get some sense smacked into them.
 
2013-10-27 05:37:12 PM
True story: I applied to work at a company building an online BitCoin wallet. Between the time they posted the open position and I sent in my resume, they had gone out of business.
 
2013-10-27 05:38:01 PM

Sgeo: Isn't that what EVE Online is about?

/Of course, EVE Online currency is not intended to replace real currency or be usable to buy real services. And it's intended to be for a game. So there's that


The best thing about EvE is it's a perfect storm of financial freedom to be able to pull of hostile corporate takeovers of other peoples guilds, or to social engineer your way to someones account details and steal everything they have; and a bunch of moderators that are willing to let it happen.

Also, you can support your EvE habit with in game currency if you are good. But yes, some people pay money not only for game time, but money in the game. (EvE has actually been a HUGE infusion of capitol into Iceland).
 
2013-10-27 05:39:41 PM

omnibus_necanda_sunt: fluffy2097: omnibus_necanda_sunt: So, if you want to move money from a bank account to a PayPal account via BitCoins to reduce your electronic trail as far as possible, what steps should you take?

Step one. Don't use bitcoins.

Step two. Don't use bitcoins.

Step Three. Don't use bitcoins.

/It's not secure
//It won't launder your money
///you can't even get dollars back out at this point.

So how do people launder money, anyway?

/I mean, besides leaving it in the back pocket when you do the wash.


shiat basically like Bitcoin. Or folding drug money into income from legitimate cash-heavy businesses. There's a scene in Breaking Bad where Saul explains the reason Jesse needs to buy a nail bar which pretty much perfectly explains the concept behind it.
 
2013-10-27 05:41:11 PM

PortsmouthFarker: Once sort-of-knew someone who stated quite proudly once that "all of my liquid funds are in Bitcoin".

I laughed really, really hard.

Bitcoin is farking stupid but the fans are worse. Cool, let's convert over all our currency into something we can't use to buy shiat, and we'll tell everyone else to as well because it's just BETTER. Even though they can't use it to buy food or power or water or shelter or Internet or most goods and services because everyone wants actual money which is actually backed by shiat.


you can buy all of those things, btw. http://seansoutpost.com/ is a good example.
 
2013-10-27 05:42:55 PM

fluffy2097: Deadite: Reminds me of pachinko machines, you put money in, you hope what comes out is either valued the same or more than what you just inserted and hope that someone some where accepts what you get out.

It's worse then that actually. Mining bitcoins right  now requires more money in electrical power then you could EVER get out in bitcoins. (and the difficulty of the hash is going to double in the next 17 hours or so, meaning it's going to be an even worse use of your energy.

You always get out less then what you put in.

/To think the amount of processor time and energy has been wasted solving a completely worthless math problem for a completely worthless currency, when we could have been folding proteins.


Oh I understand that I was talking about the ATM it self, something you put money in to convert to bitcoin and hope from when the first bill went in to the last the value didn't just drop below the actual money put in to it was worth. At least with pachinko machines you get metal bb's so if all else fails you can still eat if you can hunt with a slingshot.
 
2013-10-27 05:44:31 PM

omnibus_necanda_sunt: So how do people launder money, anyway?


Open a consulting company for.... graphic design.

Make up some clients that need your graphic design expertise.

Note on the fake invoices they paid in cash for the time you talked with them.

If the IRS comes looking at your books, you have a set of books showing that your $100,000 of meth money actually came from advising people on how to make signs or whatever bullshiat.

I'm sure there are some additional steps, but I don't really do anything that requires money laundering, so...
 
2013-10-27 05:45:37 PM

Token Anarchist: PortsmouthFarker: Once sort-of-knew someone who stated quite proudly once that "all of my liquid funds are in Bitcoin".

I laughed really, really hard.

Bitcoin is farking stupid but the fans are worse. Cool, let's convert over all our currency into something we can't use to buy shiat, and we'll tell everyone else to as well because it's just BETTER. Even though they can't use it to buy food or power or water or shelter or Internet or most goods and services because everyone wants actual money which is actually backed by shiat.

you can buy all of those things, btw. http://seansoutpost.com/ is a good example.


Oh cool, I didn't know that, I'll be sure to trade the actual money my employer gives me that can be used to pay for housing, food and services of my own choice for Dunning-Krugerrands, whose value is about as stable as a methhead epileptic in a warehouse full of strobe lights, which I can use to buy a home for someone else in Pensa-farking-cola but not here in the UK where I actually live.

Not sold, sorry.
 
2013-10-27 05:50:53 PM
i.imgur.com
Here's a currency that's worth just as much as a bitcoin.

In fact, I'd venture to say it's worth more than a bitcoin. I'd actually pay money for an authentic one of these.
 
2013-10-27 06:01:00 PM

fluffy2097: Deadite: Reminds me of pachinko machines, you put money in, you hope what comes out is either valued the same or more than what you just inserted and hope that someone some where accepts what you get out.

It's worse then that actually. Mining bitcoins right  now requires more money in electrical power then you could EVER get out in bitcoins. (and the difficulty of the hash is going to double in the next 17 hours or so, meaning it's going to be an even worse use of your energy.

You always get out less then what you put in.

/To think the amount of processor time and energy has been wasted solving a completely worthless math problem for a completely worthless currency, when we could have been folding proteins.


There's some cryptocurrency out there where the work you do goes into something involving prime numbers. Not as life-saving as folding proteins, but at least you get interesting mathematical results out of it.
 
2013-10-27 06:02:42 PM

fluffy2097: omnibus_necanda_sunt: So how do people launder money, anyway?

Open a consulting company for.... graphic design.

Make up some clients that need your graphic design expertise.

Note on the fake invoices they paid in cash for the time you talked with them.

If the IRS comes looking at your books, you have a set of books showing that your $100,000 of meth money actually came from advising people on how to make signs or whatever bullshiat.

I'm sure there are some additional steps, but I don't really do anything that requires money laundering, so...


Mostly, but you need a business where it's not unusual for people to pay cash.
 
2013-10-27 06:13:30 PM

rustypouch: fluffy2097: omnibus_necanda_sunt: So how do people launder money, anyway?

Open a consulting company for.... graphic design.

Make up some clients that need your graphic design expertise.

Note on the fake invoices they paid in cash for the time you talked with them.

If the IRS comes looking at your books, you have a set of books showing that your $100,000 of meth money actually came from advising people on how to make signs or whatever bullshiat.

I'm sure there are some additional steps, but I don't really do anything that requires money laundering, so...

Mostly, but you need a business where it's not unusual for people to pay cash.


Not that I have any actual experience with this, but there are still some steps missing. The point of laundering is to exchange your dirty money for clean money. That's why cash heavy businesses such as a bar or pizza joint come in. People come in, pay you clean money, you give them change with your dirty money. Eventually you only have clean money, and all that dirty money is in circulation by random innocent people. That's why a significant percentage of US currency has traces of heroin and cocaine on it.
 
2013-10-27 06:14:57 PM

rustypouch: fluffy2097: omnibus_necanda_sunt: So how do people launder money, anyway?

Open a consulting company for.... graphic design.

Make up some clients that need your graphic design expertise.

Note on the fake invoices they paid in cash for the time you talked with them.

If the IRS comes looking at your books, you have a set of books showing that your $100,000 of meth money actually came from advising people on how to make signs or whatever bullshiat.

I'm sure there are some additional steps, but I don't really do anything that requires money laundering, so...

Mostly, but you need a business where it's not unusual for people to pay cash.


Hence the reason the hospitality industry has been infested with various levels of organized crime even when and where there hasn't been a legalized prohibition.
 
2013-10-27 06:16:22 PM

omnibus_necanda_sunt: So how do people launder money, anyway?


Car washes, chicken restaurants, and by calling Saul.
 
2013-10-27 06:17:29 PM
Bitcoin is a revolutionary digital cash system

farm5.staticflickr.com
 
2013-10-27 06:20:02 PM
game-swag.net
 
2013-10-27 06:21:29 PM

fluffy2097: That's funny. The currency fluctuates by hundreds of dollars a day, transactions can take HOURS (meaning you cant reliably play trading games with it)

Oh, and everyone WITH bitcoins currently can't get them back to real money. IT's all locked up in MTGO:X.  (Magic: The gathering online: exchange)

If you can even get your bitcoins out of MTGO:X, What farking moron is going to pay for them in real money since the market is totally broken right now.

And get this, It costs more energy to mine bitcoins then you could ever make off them. Even with the state of the Derp Application Specific Integrated Circuits, being used to mine now.

If you want to see what libertarian government is like, Look at bitcoin nutters.

Spending real money to make fake money they can spend on drugs, only you cant buy drugs anymore with it.


You have no idea what libertarianism is about.
 
2013-10-27 06:22:00 PM

HotWingAgenda: rustypouch: fluffy2097: omnibus_necanda_sunt: So how do people launder money, anyway?

Open a consulting company for.... graphic design.

Make up some clients that need your graphic design expertise.

Note on the fake invoices they paid in cash for the time you talked with them.

If the IRS comes looking at your books, you have a set of books showing that your $100,000 of meth money actually came from advising people on how to make signs or whatever bullshiat.

I'm sure there are some additional steps, but I don't really do anything that requires money laundering, so...

Mostly, but you need a business where it's not unusual for people to pay cash.

Not that I have any actual experience with this, but there are still some steps missing. The point of laundering is to exchange your dirty money for clean money. That's why cash heavy businesses such as a bar or pizza joint come in. People come in, pay you clean money, you give them change with your dirty money. Eventually you only have clean money, and all that dirty money is in circulation by random innocent people. That's why a significant percentage of US currency has traces of heroin and cocaine on it.


That's not what is meant by "dirty" and "clean" money.

Clean money has a legal paper trail, and has a legitimate reason for existence.
 
2013-10-27 06:27:20 PM
leaksource.files.wordpress.com

Already been done. In Cyprus.
 
2013-10-27 06:40:57 PM
I find bitcoins fascinating

and I can't wait for the lols when the ass falls out from under the whole thing
 
2013-10-27 06:48:57 PM
Buttcoins are the future! Look at those margins.

http://blockchain.info/charts/miners-operating-profit-margin
 
2013-10-27 06:52:20 PM
https://blockchain.info/charts/difficulty

And here is the difficulty charts. Look at them skyrocket as ASIC builders bring massive amounts of compute power online to crack this useless equation.

I really hope they are stealing power, because at this point you're talking about thousands and thousands of watts going towards this.
 
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