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(The Verge)   Your local political assassin now accepts Bitcoin. Still doesn't take American Express   (theverge.com) divider line 51
    More: Scary, tyrannicides, Silk Road, The Daily Dot  
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1247 clicks; posted to Politics » on 18 Nov 2013 at 3:42 PM (35 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-11-18 02:13:07 PM
If you enjoy watching tickers (and who doesn't), here's a good one for bitcoin:

Link

I'm wondering how high it will get before it breaks. Seems to love 666 at the moment.
 
2013-11-18 02:23:36 PM
crowdfunded bounties for the murder of public figures

All I'm saying is, I might have a few bucks burning a hole in my pocket.

ioneglobalgrind.files.wordpress.com
 
2013-11-18 02:25:39 PM
It seems like the market would be fairly easy for someone to manipulate. Let's say the average cost of an assassination is $15,000. A large financial player who wanted to disrupt it could make $1 bets through a variety of shell accounts every day. At that rate, even if 1 in 41 of people died of natural causes over the course of a year that were suspicious or were in an accident or disappeared, etc, you could claim the money and break even. Then, if anyone did assassinate someone, they'd be forced to split the money, driving down the cost.
 
2013-11-18 02:47:15 PM
Amex is a great card

Its Discovery that's the special needs card.
 
2013-11-18 02:58:06 PM

Sudo_Make_Me_A_Sandwich: It seems like the market would be fairly easy for someone to manipulate. Let's say the average cost of an assassination is $15,000. A large financial player who wanted to disrupt it could make $1 bets through a variety of shell accounts every day. At that rate, even if 1 in 41 of people died of natural causes over the course of a year that were suspicious or were in an accident or disappeared, etc, you could claim the money and break even. Then, if anyone did assassinate someone, they'd be forced to split the money, driving down the cost.


but it has a specific date tied to it to help "prove" you were the actual assassin.
 
2013-11-18 03:19:46 PM
meh. I pay all my assassins in gold pressed latinum.
 
2013-11-18 03:21:45 PM

cannotsuggestaname: but it has a specific date tied to it to help "prove" you were the actual assassin.


That's my point. Imagine you have a thriving assassination market. You make 365 accounts and bet on all possible days in a year for a person. For $365, any time someone does assassinate that person, they have to split the money with me, even though I didn't do anything.

The market is just open to too much manipulation. And I suppose you could add cause of death to the bet, but that interferes with the plausible deniability, and there are so many causes of death. If I bet on "shot to death," it probably wouldn't change the odds that much for me.

In the meantime, because assassins now have to split everything, it drives their fees way up. As more people realize they can do this, it distorts the market further, causing the assassin bubble collapse of 2085, which brings JP Morgan into bankruptcy
 
2013-11-18 03:42:41 PM

impaler: If you enjoy watching tickers (and who doesn't), here's a good one for bitcoin:

Link

I'm wondering how high it will get before it breaks. Seems to love 666 at the moment.


FTFLFY fixed that farking link for you
 
2013-11-18 03:44:11 PM
LOL Bitcoin. A volatile instrument with no underlying asset. Sounds like a solid investment.
 
2013-11-18 03:47:56 PM

CPennypacker: LOL Bitcoin. A volatile instrument with no underlying asset. Sounds like a solid investment.


Just like gold.
 
2013-11-18 03:49:07 PM
Bitcoin is interesting- I've been following it since it was worth less than a dollar, and of course kicking myself for not having bought a few thousand back then. They still haven't really worked out the big problem, though- converting from BTC to USD is a friggin' nightmare that takes weeks. Granted, those problems are all on the USD end and not the BTC end, but still.... Mt. Gox in particular is just awful at this.
 
2013-11-18 03:53:13 PM
If you know the right trailer to knock on, you can get the same thing done for a twelve pack of Icehouse and most of a box of hot wings.
 
2013-11-18 03:54:17 PM

gingerjet: CPennypacker: LOL Bitcoin. A volatile instrument with no underlying asset. Sounds like a solid investment.

Just like gold.


Well, you can cave someone's skull in with a bar of gold.
 
2013-11-18 03:55:12 PM
 In other words, the drug boogieman wasn't scary enough for people to accept stricter controls on  people finances, so they're going to drag out a shiny new boogieman. Given the current political climate though I think this boogieman might have the opposite affect.
 
2013-11-18 03:56:42 PM

HypnozombieX: In other words, the drug boogieman wasn't scary enough for people to accept stricter controls on  people finances, so they're going to drag out a shiny new boogieman. Given the current political climate though I think this boogieman might have the opposite affect.


Assassination markets aren't a new idea. It's been floating around long before bitcoin came on the scene. It goes back to the usenet days of the early '90s I think.
 
2013-11-18 03:57:03 PM

ikanreed: gingerjet: CPennypacker: LOL Bitcoin. A volatile instrument with no underlying asset. Sounds like a solid investment.

Just like gold.

Well, you can cave someone's skull in with a bar of gold.


And it's useful in the electronics market.
 
2013-11-18 03:58:47 PM
31.media.tumblr.com
 
2013-11-18 04:00:39 PM

ikanreed: gingerjet: CPennypacker: LOL Bitcoin. A volatile instrument with no underlying asset. Sounds like a solid investment.

Just like gold.

Well, you can cave someone's skull in with a bar of gold.


You can do the same with BTC, after trying to explain it to someone.
 
2013-11-18 04:05:36 PM

CPennypacker: LOL Bitcoin. A volatile instrument with no underlying asset. Sounds like a solid investment.


But you can use it to hire other volatile instruments.
 
2013-11-18 04:10:01 PM

impaler: If you enjoy watching tickers (and who doesn't), here's a good one for bitcoin:


You can also watch these charts.
i.imgur.com
 
2013-11-18 04:18:55 PM

Sudo_Make_Me_A_Sandwich: That's my point. Imagine you have a thriving assassination market. You make 365 accounts and bet on all possible days in a year for a person. For $365, any time someone does assassinate that person, they have to split the money with me, even though I didn't do anything.


1 bitcoin =! $1
 
2013-11-18 04:22:02 PM
Weird, I wonder what triggered the latest bitcoin run.  It was pretty stable after the last bubble that hit around 300 and settled around 150.

What's really weird is when it started to hit 100 it became big news and now it's over 600 and not a peep.
 
2013-11-18 04:23:02 PM
Bitcoin is sky rocketing at the moment.
 
2013-11-18 04:23:05 PM

Ivo Shandor: impaler: If you enjoy watching tickers (and who doesn't), here's a good one for bitcoin:

You can also watch these charts.
[i.imgur.com image 720x480]


what do these mean?
 
2013-11-18 04:24:57 PM
I also don't understand why the argument that Bitcoin is used for illegal activity is meaningful.  I'm sure the US cash is used for a lot more illegal activity than bitcoin.

(not to mention unsavory, legal activity)
 
2013-11-18 04:26:27 PM

MugzyBrown: Weird, I wonder what triggered the latest bitcoin run.  It was pretty stable after the last bubble that hit around 300 and settled around 150.

What's really weird is when it started to hit 100 it became big news and now it's over 600 and not a peep.


My understanding is that it's gotten some actual investor exposure rather than just the True Believers.
 
2013-11-18 04:27:30 PM
Although I think this bitcoin stuff is pretty silly, that article is the textbook definition of a hit piece.  Who knows what bitcoin is, but we should regulate it for the children!
 
2013-11-18 04:30:09 PM

Churchill2004: They still haven't really worked out the big problem, though- converting from BTC to USD is a friggin' nightmare that takes weeks.


That's the original problem with bitcoin, if I can't buy a gallon of milk with it at the corner store then it's not really a currency.  Right now it's a commodity.  The way you "convert" it to dollars is by selling it.
 
2013-11-18 04:31:02 PM

SlothB77: what do these mean?


It's the amount of computational effort required to "mine" a block of coins. As more computing power joins the network, the difficulty goes up as needed to maintain a constant block-generation rate. It's now in an arms race where the only way to make a profit through mining is to keep throwing more ASIC hardware at the problem.
 
2013-11-18 04:36:45 PM

Churchill2004: Bitcoin is interesting- I've been following it since it was worth less than a dollar, and of course kicking myself for not having bought a few thousand back then. They still haven't really worked out the big problem, though- converting from BTC to USD is a friggin' nightmare that takes weeks. Granted, those problems are all on the USD end and not the BTC end, but still.... Mt. Gox in particular is just awful at this.


That's what I was trying to figure out, and with alto of research you are the first person to directly indicate the fact that you can't switch back into dollars.  I wanted to get in, but couldn't figure out how to get out if I did. If you can't get in and out of it, then it is in fact not worth the dollar exchange rate that everybody keeps reporting.  The real exchange rate is some kind of "future" for a contract that is equal to the exchange rate on the future date that you can actually get your cash back.  Unless the rate is set at the very first instant of the transaction, in which case, you lose the time value of money.  Either way, the exchange rate reported is illusory.
 
2013-11-18 04:37:05 PM

impaler: If you enjoy watching tickers (and who doesn't), here's a good one for bitcoin:

Link

I'm wondering how high it will get before it breaks. Seems to love 666 at the moment.


Period: W1 D3 D1 H4 H1 M15 M5 M3 M1

WTF is this shiat?  they can't have normal calendar time periods?  What is that, a mac address?  The names of James Bond secret agents?  They just can't it understandable.  It has to be obfuscated.
 
2013-11-18 04:41:20 PM
"Assassins for hire" are common as hell on Tor. I am sure 99.99999999999% of them are scammers/hoaxes/jokes, but whatever
 
2013-11-18 04:42:40 PM

plcow: That's what I was trying to figure out, and with alto of research you are the first person to directly indicate the fact that you can't switch back into dollars.  I wanted to get in, but couldn't figure out how to get out if I did. If you can't get in and out of it, then it is in fact not worth the dollar exchange rate that everybody keeps reporting.


Just think of it as being a bar of gold that you can't sell at a pawn shop.  Oh yeah and it's not real gold.
 
2013-11-18 04:45:06 PM
I saw part of this hearing earlier today.  Big surprise, the solution for bitcoin is more and bigger government:

SEC Chairman Mary Jo White said in a letter dated Aug. 30 that the coins "likely would be securities and therefore subject to our regulation.'


http://www.bloomberg.com/news/2013-11-18/u-s-agencies-to-say-bitcoin s- offer-legitimate-benefits.html
 
2013-11-18 04:46:28 PM

plcow: I wanted to get in, but couldn't figure out how to get out if I did.


You can convert BTC to cash at an ATM if you happen to live in the right city.
 
2013-11-18 04:54:14 PM

plcow: That's what I was trying to figure out, and with alto of research you are the first person to directly indicate the fact that you can't switch back into dollars.  I wanted to get in, but couldn't figure out how to get out if I did. If you can't get in and out of it, then it is in fact not worth the dollar exchange rate that everybody keeps reporting.  The real exchange rate is some kind of "future" for a contract that is equal to the exchange rate on the future date that you can actually get your cash back.  Unless the rate is set at the very first instant of the transaction, in which case, you lose the time value of money.  Either way, the exchange rate reported is illusory.


There's no problem exchanging BTC for USD in your Mt. Gox account-you can have both in the account, so it's not like you place a bid and it only executes weeks later at a different price. For example, if you had 1 BTC you could go on Mt. Gox right now and sell it for $650 or whatever, and that money goes straight into your personal Mt. Gox account, kinda like PayPal.  It's trying to get the dollars out of that account and credited to your bank account or credit card that's a nightmare.
 
2013-11-18 04:55:57 PM

impaler: If you enjoy watching tickers (and who doesn't), here's a good one for bitcoin:

Link

I'm wondering how high it will get before it breaks. Seems to love 666 at the moment.


No this is the best thing related to bitcoin
 
2013-11-18 04:56:02 PM
Fry: I'll take them. Do you take American Express?
Salesman: Sir, American Express hasn't existed for 600 years.
Fry: Visa?
Salesman: 700 years.
Fry: Discover Card?
Salesman: Ooh, sorry, we don't take Discover Card.
 
2013-11-18 05:38:20 PM

MugzyBrown: I also don't understand why the argument that Bitcoin is used for illegal activity is meaningful.  I'm sure the US cash is used for a lot more illegal activity than bitcoin.

(not to mention unsavory, legal activity)


Is this like arguing against police targeting ethnic minorities by saying white people commit crimes too?
 
2013-11-18 06:16:16 PM

SlothB77: 1 bitcoin =! $1


You can divide bitcoins into very small pieces. A market wouldn't necessarily require a single bitcoin for every bet.
 
2013-11-18 06:27:00 PM

ikanreed: gingerjet: CPennypacker: LOL Bitcoin. A volatile instrument with no underlying asset. Sounds like a solid investment.

Just like gold.

Well, you can cave someone's skull in with a bar of gold.


Touché.
 
2013-11-18 06:33:02 PM
Old and busted: Kickstarter. New hotness: Hitstarter.
 
2013-11-18 08:38:36 PM
Bitcoin got up to 900 today. Currently crashing.
 
2013-11-18 08:58:32 PM
No American Express? How the hell am I supposed to do business?
 
2013-11-18 09:11:57 PM

impaler: Bitcoin got up to 900 today. Currently crashing.


Ahahahahahahahahaahah
 
d23 [TotalFark]
2013-11-18 09:52:22 PM

A Terrible Human: impaler: Bitcoin got up to 900 today. Currently crashing.

Ahahahahahahahahaahah


It hit a high and went back down.  That's not "crashing".
 
d23 [TotalFark]
2013-11-18 09:54:26 PM

A Terrible Human: impaler: If you enjoy watching tickers (and who doesn't), here's a good one for bitcoin:

Link

I'm wondering how high it will get before it breaks. Seems to love 666 at the moment.

No this is the best thing related to bitcoin


best link today.
 
2013-11-18 11:58:29 PM
The usual people will become very rich on the rise and fall of bitcoin.  The usual smucks will lose the little that they have.
 
2013-11-19 02:54:47 AM
My brother convinced me to buy 3 "units" when it was at around $95 earlier in the year.  He is one of those nuts who thinks its going to hit a bazillion dollars.  I was drunk and just received a bonus.  Sold one for $600 a couple days ago.

Since I made my money back now Ill just wait and hope they hit a bazillion dollars.

/csb
 
2013-11-19 06:09:56 AM
I got 5 on the Kochs.
 
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