> BREAKING: Bitcoin market crashes. Everyone is dumping their bitcoins for pennies on the dollar.

wrote:

http://mytechencounters.wordpress.com/2011/04/03/gpu-password-cracking-crack-a-windows-password-using-a-graphic-card/

Brute force crack any random 7 char password in 2 minutes instead of 4 days. 8 char passwords fall easily too.

Word to your mutha.

MtGox completely and utterly owned.

Bitcoin itself is fine.  Anyone who entrusted their bitcoins to MtGox should probably slice their throat open in the toilet.  Don't forget to flush before you black out so your mom doesn't have to clean up too much.

wrote:

MtGox completely and utterly owned.

Bitcoin itself is fine.  Anyone who entrusted their bitcoins to MtGox should probably slice their throat open in the toilet.  Don't forget to flush before you black out so your mom doesn't have to clean up too much.

http://en.wikipedia.org/wiki/Bitcoin

As of June, 2011, the Mt. Gox Bitcoin Exchange "handles the vast majority of Bitcoin trades."[31] Tokyo-based K.K. Tibanne Co. runs the exchange under CEO Mark Karpel?s.[32]

The name "Mt. Gox" originally referred to Magic: The Gathering Online Exchange

wrote:

Can someone please fill me in on this whole Bitcoin garbage?

Why exactly would I want to hold / trade / use these Bitcoins anyway?

It's basically WOW gold.  You can exchange it for dollars to buy shyt that will help you farm bitcoins faster.  This is analogous to WOW where you can exchange your gold for shyt that will help you farm gold faster.

If you are old UA gold might be a better example.  Bitcoins are really hard to clone though so it is unlikely they will depreciate as badly as UA gold.

wrote:

It's basically WOW gold.  You can exchange it for dollars to buy shyt that will help you farm bitcoins faster.  This is analogous to WOW where you can exchange your gold for shyt that will help you farm gold faster.

If you are old UA gold might be a better example.  Bitcoins are really hard to clone though so it is unlikely they will depreciate as badly as UA gold.

..and I would want to engage in this bizarro world shyt instead of fuqing my girlfriend why?

Otis Fudfuqer wrote:

What exactly is a bitcoin?

Apparently it's some sort of anonymous currency using distributed issuance and transaction infrastructure that allows one to buy drugs and kiddie pron, along with weapons in WoW. Again, not sure why someone would want to keep $500K of their wealth in it. $50.00 I can understand, but $500K is fuqing madness.

Otis Fudfuqer wrote:

with drugs, kp and weapons I think I would want to just stay the fuq away!

Agreed. I was using $50.00 as a hypothetical if I was into any of that kind of shyt.

A small white child costs tens of thousands of dollars on silk road.  It is really fuqing hard to accrue the bitcoins to make that deal without driving up the bitcoin spot price.

wrote:

Given the crazy ass encryption strength of Bitcoin, I would spend $20.00 in electricity to generate each $1 of Bitcoin.

Please explain to me how that's free money if you don't live rent-free in your Mom's basement while she pays the electric bill.

You might be interested in the PVP elements of bitcoin.  See MtGox hack.  Apparently that energy is better spent raping other players rather than harvesting bitcoins from the environment.

A bitcoin is actually worth zero.  It's amusing how many stupid fuqholes will have to find that out the hard way.

wrote:

Adults are talking.  Please go back to eating alphabits out of a can.

Bitcoin [newstechnica.com] is a decentralised computer currency designed by self-righteous Ayn Rand-reading nerds who despise looters and parasites like, er, you. It is used to purchase Internet services, illegal drugs and pictures of naked women holding video cards.

Bitcoin works by an emergent synergy of cryptography, peer-to-peer, anonymity, anarchism, libertarianism, wasting stupendous quantities of electricity, the marketing department at NVidia, the enduring exchange value of tulip bulbs and doing all of this instead of Folding@Home.

Bitcoin successfully harnesses a hitherto-unexploited Internet resource: the vast reserves of unexamined privilege amongst computer programmers. Coins are "mined" by stealing them from people who are able to comprehend this level of computer science but still keep their Bitcoin wallet in plain text on a Windows machine.

The Bitcoin system is robustly designed to continue past the collapse of the US dollar and the world economy, as the Internet, fast computers and reliable electricity are all expected to be readily available when barbarian hordes are wandering the burnt-out post-apocalyptic remnants of civilisation.

It is completely incorrect to describe Bitcoin as a "pyramid scheme." Technically, it's a "pump-and-dump."

Many common products are still inexplicably not purchasable with Bitcoins. "It's as if they don't understand the revolutionary wonder of Bitcoin," says Debian developer Hiram Nerdboy, 17. "I can't get chicks with Bitcoins either. Even with my slickest Pick-Up Artist techniques! It's as if my knowledge of economics and game theory didn't apply to real life. But that's impossible, of course. They're probably just theists. Hold on, I just gotta post to Slashdot about this."

Bitcoin was invented by Internet libertarians, in the spirit of freely-chosen individual interpersonal interactions that will bring about the utter collapse of the oppressive taint of the dead hand of government, in order to make money at your expense.

Each bitcoin is still worth PRECISELY ZERO.  Time will prove that I'm right.  Of course, all Internet history proves that I'm right, but greed trumps historical knowledge each and every fuqing time.