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[Official] BitCoin LiteCoin DigitalCoin and all Crypto Currencies Club And General Information Thread - Page 1388

post #13871 of 22509
Overall profitability is down over the board, even disregarding the BTC crashing atm.

ROI for me used to be about 60 days with some smart mining and almost instant selling, now its almost twice that : /.


Me so sad. Also, I dont see BTC crashing to 465 like something completely strange tbh... it was down at 120 last year and uppsed to 1000% that. Hell Ill be right happy if we reach 4650 bucks this year smile.gif.
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post #13872 of 22509
Quote:
Originally Posted by korruptedkaos View Post

yep! your acting like mt gox is the only one that has been hacked lol. many others have to & in the past not just now.

MtGox is responsible for their own issues, and are likely the one's that have benefited from this "hacking" (I put that in quotes because you hardly have to hack something you control).
Quote:
Originally Posted by korruptedkaos View Post

I think you misunderstand what crypto's are tbh? unregulated! decentralized! & well its all a pyramid scheme if you know what they are!

Decentralized does not mean unregulated, and neither implies a pyramid scheme.

There are already precedents being set in some jurisdictions that will regulate cryptocurrencies like other financial instruments.

The major cryptocurrencies are not ponzi schemes, even if some exchanges turn out to be. Decentralization is actually a protection against this, and is why miscellaneous scamcoins that crop up never get very far.
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post #13873 of 22509
Quote:
Originally Posted by korruptedkaos View Post

yep! your acting like mt gox is the only one that has been hacked lol. many others have to & in the past not just now.

for instance take pools. if there ran on php & someone ddos floods the server, when they restart the server they will try a fake auth onto it & steal all the coins they can!

I imagine every exchange is being attacked daily in some respect, its just how well they are at defending against them!

as for Identity theft cases, social security fraud, banks etc. those systems are regulated & insured & anybody who does that is liable for prosecution.

I think you misunderstand what crypto's are tbh? unregulated! decentralized! & well its all a pyramid scheme if you know what they are!

rolleyes.gif

Then again the US government is a pyramid scheme. rolleyes.gif

Well just have our different views and enjoy the rest of the show that is MTgox. (and the U.S Debt when the time comes around)
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post #13874 of 22509
Quote:
Originally Posted by blkdoutgsxr View Post

One thing to consider is that an exchange has to gain the trust of a lot of people in order for a major heist to take place. It appears that by the time an exchange has gained the amount of trust that it would require they figure they are making enough off of trading fees that it is not worth having dirty money when they could earn it legitimately. Mt Gox is the exception to the rule in this case, but I don't think this one bad apple has really spoiled the bunch. Most people get their coins stolen from doing idiotic things on forums, like downloading random crap, or storing coins in online wallets. No need for worries if you are smart about it.

im not worried really, im just pointing out that without regulation or trustworthy/competent people running things its pretty much easy for anyone to take advantage of the system.

for instance I could run a pool with MPOS, knock it offline, come back on & say all coins or a certain % has been stolen. then close it & run away with the coins biggrin.gif

a week later I could make a new one & do it all over again.

same with an exchange aswell, wait till it reaches a hefty volume & bam.Rinse & repeat lol

what im pointing out is its become very obvious that you can do this & get away with it. Its legal in some respects aswell rolleyes.gif
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post #13875 of 22509
Quote:
Originally Posted by korruptedkaos View Post

im not worried really, im just pointing out that without regulation or trustworthy/competent people running things its pretty much easy for anyone to take advantage of the system.

for instance I could run a pool with MPOS, knock it offline, come back on & say all coins or a certain % has been stolen. then close it & run away with the coins biggrin.gif

a week later I could make a new one & do it all over again.

same with an exchange aswell, wait till it reaches a hefty volume & bam.Rinse & repeat lol

what im pointing out is its become very obvious that you can do this & get away with it. Its legal in some respects aswell rolleyes.gif

I get what you mean, and it is true to some extent. But what you would profit from the most would be to open up a Pool and collect your 2% in the long run. Same with an exchange (which I think you are overlooking how difficult it is to get to that 'hefty' volume. Regulation will come in the US in time, when I watched the hearings I felt very optimistic about the process, seems to be 'just enough' regulation to offer some consumer protections but not too heavy that it will destroy the currency. We shall see though.
post #13876 of 22509
Here is a great summary of the events that have transpired for those unaware or that are going to wake up.

http://www.reddit.com/r/Bitcoin/comments/1yvdcd/heres_a_summary_of_what_has_happened_over_the/
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post #13877 of 22509
Quote:
Originally Posted by blkdoutgsxr View Post

I get what you mean, and it is true to some extent. But what you would profit from the most would be to open up a Pool and collect your 2% in the long run. Same with an exchange (which I think you are overlooking how difficult it is to get to that 'hefty' volume. Regulation will come in the US in time, when I watched the hearings I felt very optimistic about the process, seems to be 'just enough' regulation to offer some consumer protections but not too heavy that it will destroy the currency. We shall see though.

In the long run yes for someone who has morals, they would be very happy 2% & contribute to the crypto community really.

Its not really hard to get a hefty volume these days tbh, not with all the new alts & small time exchanges popping up to cater for them.

Join my pool http://korruptedkaosstoleallyourcoins.ru lachen.gif

I have such a Kriminal mind lol! sorry guiltysmiley.gif
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post #13878 of 22509
Quote:
Originally Posted by korruptedkaos View Post

In the long run yes for someone who has morals, they would be very happy 2% & contribute to the crypto community really.

Its not really hard to get a hefty volume these days tbh, not with all the new alts & small time exchanges popping up to cater for them.

Join my pool http://korruptedkaosstoleallyourcoins.ru lachen.gif

I have such a Kriminal mind lol! sorry guiltysmiley.gif

Hey! The link doesn't work. I want moar coinzzzz gimme dem coinzzzz.
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post #13879 of 22509
Quote:
Originally Posted by Jeffinslaw View Post

Hey! The link doesn't work. I want moar coinzzzz gimme dem coinzzzz.

Those damn hackers! they must of ddos'd it & stole them all rolleyes.gif

sorry guys! we will have to close the site now until we can reopen in the future. biggrin.gif

Quick to the bankmobeel. lachen.gif

drunken.gif
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post #13880 of 22509
Quote:
Originally Posted by charliew View Post

Overall profitability is down over the board, even disregarding the BTC crashing atm.

ROI for me used to be about 60 days with some smart mining and almost instant selling, now its almost twice that : /.


Me so sad. Also, I dont see BTC crashing to 465 like something completely strange tbh... it was down at 120 last year and uppsed to 1000% that. Hell Ill be right happy if we reach 4650 bucks this year smile.gif.

LTC is down to $12 at the moment, yet difficulty remains close to 3500. Something's gotta give.
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