Bit Coins

[Fulvio]

Had a look at http://coinmarketcap.com/ just now...

Everything is up suddenly. Did I miss something?

I've been watching https://twitter.com/Dogecoinvalue, planning to buy a few doge around the $320/MĐ, and suddenly its up around $450.

Oh well, at least the pittance I'm mining is worth more.

[JeffH]

Maybe our finance system and crypto-currencies have more in common than you might think; All it takes to make money is stroke of a pen. Look for the "continue" button in bottom, right corner.
I wonder if part of the reason that banks and governments are so negative on this issue is that someone else did it first!

[Fulvio]

I've been watching https://twitter.com/Dogecoinvalue, planning to buy a few doge around the $320/MĐ, and suddenly its up around $450.

Allow me to gloat a little...

Back when I was pushing you guys to get into Dogecoin, and the market cap bottomed around $9 million before settling at $20 mil, everybody was making jokes, remember?

Well, its now $109 million, around $1,000/MĐ and no sign of the bull run ending yet.

:yahoo::yahoo:

[Fulvio]

Well, its now $109 million

Woke up to $154 million, so I sold a few more.

Still got a ways to covering my super-expensive bag of ANZAC coins, but at this rate, I'll get there.

[Pedro]

Is this what you have been up to Fulvio?? :biggrin:

http://www.abc.net.au/news/2017-05-13/global-cyber-attack-hits-hospitals,-telecommunications/8523102

Pedro

[Basil]

Yeah,what a mess,the trouble is IT guys reconstruct the Data and the Crims. come back for a 2nd(or 3rd,4th etc) go.Changing IP address doesn't stop them so some extremely sophisticated and exxy Firewall is needed.
Imagine what is going to occur during WW 111 when the Chinese,Russians & Americans target each others Computers Systems.

[Ozcoins]

Geeze Pedro,
Fulvio is a good guy - well mostly anyway ☺.
He will have nothing to do with any of that.

[runway]

Bit coin is dodgy full stop !

[Fulvio]

Fulvio is a good guy - well mostly anyway ☺.

Yeah, right... :dodgy:

Seriously though, these attacks are targetting humans, not computers. Who in their right mind opens random attachments in emails, especially on critical systems?

Once a trojan has been activated, it can do anything. Encrypting your drive isn't new.. a mate of mine was attacked this way years ago.

As for the crypto angle, its just that they're irreversible and harder to track than say a credit card, which was how my mate paid up, BTW.

And if you have important data, learn how to look after it. Backups, including offline copies, servers, air-gapped machines, the methods are well documented, if only people would learn to read.

[Basil]

Nothing new,just getting more sophisticated,they hit one of the Northern Territories Online Bookies a couple of years ago,best IT guys in Aust. couldn't unscramble,even with Auto back-up, so they had to pay as all their customer Records and advance bets were involved.
I wouldn't want to be in their shoes if caught,similar to the Indians that were forging the American Express Cards a few years back,all ended up dead.

http://www.smh.com.au/it-pro/security-it/hackers-draw-ransom-in-cyber-stings-20121222-2bspr.html

http://www.smh.com.au/it-pro/security-it/hackers-lock-up-thousands-of-australian-computers-demand-ransom-20140916-10hyyh.html

[Ozcoins]

Seriously though, these attacks are targetting humans, not computers.

That is not completely true.
The twist with this one is it would also spread automatically by using a vulnerability that the NSA found which was made public, so it was also targetting computers.

[Fulvio]

Well, its now $109 million

Woke up to $154 million, so I sold a few more.

$354 million this afternoon.. edging back a little bit from a 55% gain in 5 hours. :shok:

[Unicorn]

Do you think the increased demand for Bitcoins to pay ransomware may be responsible for the increase?

[Fulvio]

Do you think the increased demand for Bitcoins to pay ransomware may be responsible for the increase?

No, its across the board, and many currencies are rising much, much faster than Bitcoin. Doge market cap is now $521,483,892, and I just made this sale:

22/05/2017 11:00 AM    1500 DOGE   $0.005684   $8.53

Sadly, volume is a bit anaemic on CoinSpot, but I've been selling into this surge on BTC38 for weeks, and buying back on each reversal. I'm a Yuan millionairre! Or at least that's what it feels like.

There's a lot of speculation about the reasons its all going nuts. The naysayers were calling it a pump and dump, and predicting a crash weeks ago. They all look stupid now, and are being very quiet. Others are saying its because of Japan making bitcoin legal tender.

Whatever it is, https://coinmarketcap.com/currencies/views/filter-non-mineable-and-premined/#AUD puts the total market cap at $73 billion, with BTC being $44 billion of it, being a much smaller slice of the pie than it used to be.

Where will it go from here?

On the one hand, market penetration is still just about zero, so it could increase a hundredfold. $10,000 Bitcoins and $1 Dogecoins are certainly far less unlikely than they were a couple of months ago.

On the other hand, just like the unexplained resources boom earlier this year, nothing really stands out, and maybe its all speculation and people who buy at the top are going to get burned.

Certainly there are limits. The Bitcoin network is stuffed, with congestion driving mining fees through the roof, and politics and infighting still preventing technical solutions. Dogecoin doesn't have those issues, and is a serious contender with ten times the capacity, but vendors still aren't awake to its advantages, forcing conversion to BTC in order to spend it. So that leaves speculative trading as one of the very few easy things anyone can do with it, and they're definitely doing it. On BTC38, 24h volume is 8,104,949,250 Doge. When I started typing this, it was 7 Billion. And that's just one exchange!

Certainly anyone who doesn't have a dog in this show is going to look like an idiot in a year or two. Like the guy who took all those glass pebbles to the tip so he could plant his veggies, while people around him were saying diamonds were the next big thing. Or people who spent 1930 pennies.

With resources like https://walletgenerator.net/ and https://coinb.in/#settings, there's no excuse for everyone not having wallets, and at least accepting coins, even if not buying them.

[czark]

I found all my login details and saw I had almost tripled my small investment on doge coins. Those suckers turned out OK in the end. Haha

Wish I had bought more!