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Tangent128 from Virginia Since: Jan, 2001 Relationship Status: Gonna take a lot to drag me away from you
#252: Jan 15th 2014 at 7:32:10 AM

It's amusing to see a certain subset of Bitcoin fans puzzled that Dogecoin could be worth anything. tongue

Do you highlight everything looking for secret messages?
Logograph Trash bin of shielding from IN SPAAAAAAACE! Since: Dec, 2013 Relationship Status: YOU'RE TEARING ME APART LISA
Trash bin of shielding
#253: Jan 15th 2014 at 2:06:17 PM

Dogecoin is pretty much worthless, though. 4000 DOGE is 1 USD.

LeGarcon Blowout soon fellow Stalker from Skadovsk Since: Aug, 2013 Relationship Status: Gay for Big Boss
Blowout soon fellow Stalker
#254: Jan 15th 2014 at 2:07:05 PM

Wow. much worthless. many coin. poor exchange rate.

Oh really when?
IraTheSquire Since: Apr, 2010
#255: Jan 15th 2014 at 2:20:12 PM

Well, in that linked article they say that's why it is more popular: it's pretty much the coin where you can just tip in the same way as liking on facebook.

Ekuran Since: Feb, 2010 Relationship Status: watch?v=dQw4w9WgXcQ
#256: Jan 15th 2014 at 2:23:26 PM

So, I should probably get millions of dogecoins right now and sell it for a ridiculous amount when it gets all hyper-deflationy like bitcoin.

DeviantBraeburn Wandering Jew from Dysfunctional California Since: Aug, 2012
Wandering Jew
#257: Jan 15th 2014 at 3:17:00 PM

'Coinye West' is dead.

edited 25th Jan '14 8:42:22 PM by DeviantBraeburn

Everything is Possible. But some things are more Probable than others. JEBAGEDDON 2016
DeviantBraeburn Wandering Jew from Dysfunctional California Since: Aug, 2012
Fighteer Lost in Space from The Time Vortex (Time Abyss) Relationship Status: TV Tropes ruined my love life
Lost in Space
#259: Jan 17th 2014 at 6:35:29 PM

Cute. I hope they don't plan to use Mt. Gox; they'll probably get banned.

"It's Occam's Shuriken! If the answer is elusive, never rule out ninjas!"
Ogodei Fuck you, Fascist sympathizers from The front lines Since: Jan, 2011
Fuck you, Fascist sympathizers
#260: Jan 17th 2014 at 6:44:08 PM

That's going to be an epic example of crowding out of we've ever seen one.

storyyeller More like giant cherries from Appleloosa Since: Jan, 2001 Relationship Status: RelationshipOutOfBoundsException: 1
More like giant cherries
#261: Jan 17th 2014 at 8:25:22 PM

Maybe the government could figure out a way to actually withdraw money from Mt Gox.

Blind Final Fantasy 6 Let's Play
joesolo Indiana Solo Since: Dec, 2010 Relationship Status: watch?v=dQw4w9WgXcQ
Indiana Solo
#262: Jan 17th 2014 at 8:41:29 PM

I can imagine the government trying to cash out all those bitcoins could kill bitcoin almost entirely, exchange rate wise. If it's show the U.S. government can't sell them off, It'll scare the fuck out of investors who will try to pull out, and when they realize they can't properly they might sell well below value to try and salvage something.

I don't see this ending well for bitcoin, no matter what happens.

EDIT- well actually the alternate is that the government steps in and actually regulates all these bitcoin exchanges. That might work out.

edited 17th Jan '14 8:42:12 PM by joesolo

I'm baaaaaaack
Fighteer Lost in Space from The Time Vortex (Time Abyss) Relationship Status: TV Tropes ruined my love life
Lost in Space
#263: Jan 17th 2014 at 8:48:49 PM

Seems that the FBI may sell them at auction. Given doubts about the long-term viability and short-term price stability of bitcoin, I would find it very unlikely that they'd be offered bids at more than a fraction of market value. Regardless, this represents liquidity exiting the bitcoin market, not entering it, which is only going to make the hoarding problem worse. It's not like the FBI is going to buy more bitcoins with the proceeds.

edited 17th Jan '14 8:49:21 PM by Fighteer

"It's Occam's Shuriken! If the answer is elusive, never rule out ninjas!"
joesolo Indiana Solo Since: Dec, 2010 Relationship Status: watch?v=dQw4w9WgXcQ
Indiana Solo
#264: Jan 17th 2014 at 8:52:15 PM

I'd be tempted to buy some myself if it wasn't for the horror story about trying to sell them someone else posted.

I'm baaaaaaack
Kostya (Unlucky Thirteen)
#265: Jan 17th 2014 at 9:25:30 PM

[up]That's what I was thinking. I figured I could buy some for about ten dollars and see what happens but I don't know if I want to put up with trying to cash out.

DeviantBraeburn Wandering Jew from Dysfunctional California Since: Aug, 2012
Wandering Jew
#266: Jan 17th 2014 at 10:07:12 PM

Canada rules bitcoin is not legal tender.

Everything is Possible. But some things are more Probable than others. JEBAGEDDON 2016
Zendervai Since: Oct, 2009
#267: Jan 18th 2014 at 7:10:31 AM

Doesn't really surprise me. The Canadian government and the Royal Canadian Mint are a little smarter (just a tiny little bit) than the US when it comes to money and banks.

BonsaiForest Since: Jan, 2001
#268: Jan 19th 2014 at 6:16:52 PM

Maybe the government could figure out a way to actually withdraw money from Mt Gox.

I was able to withdraw thousands of dollars just fine from them.

breadloaf Since: Oct, 2010
#269: Jan 22nd 2014 at 10:24:24 PM

The instability of the currency is the real issue. Whatever price I put up for a good in BTC is just random. I can't make a business model, I can't tell my investors what to expect and I don't even know how much money I have after someone has paid me in BTC. Price drops 50%, goes up 100%, drops 75% in a matter of days. This is worse than gold.

But... if you wanted to make money? Sure! It's basically commodities trading.

I just don't see why anyone thinks it is a viable alternative currency rather than a commodity that floats on a price based on ideology.

edited 22nd Jan '14 10:24:41 PM by breadloaf

demarquis (4 Score & 7 Years Ago)
#270: Jan 23rd 2014 at 7:44:12 AM

Bro, I've been saying that since almost the beginning of the thread, all those years ago.

I'm done trying to sound smart. "Clear" is the new smart.
DeviantBraeburn Wandering Jew from Dysfunctional California Since: Aug, 2012
Wandering Jew
#271: Jan 23rd 2014 at 7:47:35 AM

Bitcoin deemed a commodity, not a currency in Finland.

Sweden Will Treat Bitcoin as an Asset Not a Currency.

edited 24th Jan '14 12:08:13 PM by DeviantBraeburn

Everything is Possible. But some things are more Probable than others. JEBAGEDDON 2016
Jinxmenow Ghosts N' Stuff Remix from everywhere you look, everywhere you look Since: Oct, 2012 Relationship Status: Not caught up in your love affair
Ghosts N' Stuff Remix
#272: Jan 24th 2014 at 9:18:34 AM

Does Steam wallet money appreciate in value over time?

"Monsters are tragic beings. They are born too tall, too strong, too heavy. They are not evil by choice. That is their tragedy."
Zendervai Since: Oct, 2009
#273: Jan 24th 2014 at 9:19:50 AM

No. It stays the same amount.

breadloaf Since: Oct, 2010
#274: Jan 24th 2014 at 6:48:05 PM

Well, it might decrease over time actually. Afterall, it is affected by game prices and I don't see how those would drop since they depend on salaries and/or living costs.

DeviantBraeburn Wandering Jew from Dysfunctional California Since: Aug, 2012

Total posts: 2,142
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