Bit Coins

[Ozcoins]

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

It looks like nothing to do with the wannacry ransomware.

From what I have read there are 3 different bitcoin wallets that are being used to accept the ransom money for wannacry.
You can look up transactions to those.
I checked yesterday and there were only 50 bitcoins altogether.
Given all the fuss and the new twist on how it spreads, it looks to me like wannacry has been remarkably ineffective at making money for the criminals.

[Unicorn]

Thanks Oz! I was thinking that with such a hugh media outcry that there may have been some correlation.

[Fulvio]

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!

Yup. Don't we all?

Remember when I posted this ages ago? https://www.coinspot.com.au?affiliate=flv

One or two of you guys used it to sign up. I never really got anything out of it though, since most spent $0.

Well, I just about had a heart attack last night. I got this email:

CoinSpot Affiliate Program

Thanks for being a part of the CoinSpot Affiliate Program. We appreciate your support and are happy to let you know that the Affiliate payout for May 2017 is $928.39.

The payout has been credited to your CoinSpot account and is ready for you to use immediately.

Thanks again for your continued support and if you have any ideas or feedback on how we can further improve the affilate program we would love to hear about it.

:shok: :yahoo: :wavemulticolor: :angel:

I have no idea who it was, but someone spent $92,059.54! Talk about a windfall.

Next week when I go to the computer club meeting, I am totally going to rub their noses in it. I tried to get them aboard, even handed out paper wallets. Only one guy listened, and he never really understood the concepts anyway. The rest laughed and made doggy jokes.

This is going to be fun. :diablo:

[Fulvio]

Oh, and after the collapse of Dogetipbot after /u/mohland 'borrowed' 109 million coins he can no longer afford to replace, this afternoon a replacement on-chain tipbot came online after a month of development on the testnet:

https://www.reddit.com/r/sodogetip/wiki/index

I've said many times since the bot went down that I dislike on-chain tipping intensely. However this looks to be the only game in town for now that doesn't involve spamming wallet addresses, so I guess its advisable for everyone to at least register to prevent tips going astray.

[Fulvio]

Well, interesting times over in Bitcoinland, eh?

Apparently I'm now the proud owner of an extra couple of hundred bucks worth of the brand-new Bitcoin Cash (BCC) after the fork. No idea yet if BTC38 is going to follow suit and hand over the coins (Coinbase said they won't, prompting many to start talking about class actions which could bring them down). And then there's coins I have in 'paper' wallets, (like the ones in my .sig below, which I just updated) which are unaffected by political shenanigans played by third parties.

I'd give it a week for all the dust to settle and things to settle down.

Meanwhile, Dogecoin just keeps on keeping on. Up, Down, mostly sideways, but its all good. Every time the price moves, we can add a little more profit, eh?

And then there's some interesting interviews on TV with various 'leading lights' (though I'm not sure what qualifications Branson and Gates bring, but meh) and statements that the current tenfold price explosion is nothing, with wider adoption pointing to MILLION-Dollar Bitcoins (and presumably commensurately priced altcoins).

Heck, if that ever pans out, the guy who paid 10,000 BTC for a pizza would have to be a little less blase about his $10 Billion snack, eh? :angel:

[Fulvio]

I have noticed that there has been a resurgence in these lately.
Am I alone in thinking that these are just another Ponzi Pyramid scam developed by some shady  Yank to fleece the stupid and greedy .

So, back when Troutski started this thread, Bitcoin was about US$100. During the first page or two of discussions, it doubled in value.

Today I got a call from a mate who wanted some help buying in. We'd been discussing cryptos for years.

We ended up buying at a tad under $25,000!

Which made me think of this thread. I wonder if Trout's wised up yet. Imagine having thrown a couple of grand into this back then, instead of some of the granny bait we've all lived to regret. Speaking of regret, that Pizza is now worth $250 million!

Oh, and Dogecoin has gone from a low of 9 cents/thousand to over $4. And yes, I'm a very happy camper, especially after discovering some random person I helped threw 50,000 coins into one of my wallets yesterday. Wish I knew who it was so I could thank him.

[trout]

Which made me think of this thread. I wonder if Trout's wised up yet. Imagine having thrown a couple of grand into this back then, instead of some of the granny bait we've all lived to regret. Speaking of regret, that Pizza is now worth $250 million!

All these recent prices for the crypto currencies are based on "Hype" and "Speculation" and we all know how that usually pans out :dodgy:
Usually by the time the prices crash the big players have already pulled their money out and the smaller investors are the ones that loose their shirt and get nothing.

[Basil]

Its not a subject i know anything about or wish to get involved in but spent Xmas with a relation who's Husband works in China.She said they(China Computer Co.'s i guess) are gearing up to spit out Bit Coins and the like so will be interesting,if true,what effect it will have on the long term future of CC's.

[humpybong]

This is explained beautifully.
An opinion on Bitcoin that resonates alarm bells.  Get out before all the Monkeys have gone.
 
      *BITCOIN*
 
 
 A lot of monkeys lived near a village.?
 
 One day a merchant came to the village to buy these monkeys!
 
 He announced that he will buy the monkeys @ $100 each. ??
 
 The villagers thought that this man is mad.?
 
 They thought how can somebody buy stray monkeys at $100 each??
 
 Still, some people caught some monkeys and gave it to this merchant and he gave $100 for each monkey.?
 
 This news spread like wildfire and people caught monkeys and sold it to the merchant.?
 
 After a few days, the merchant announced that he will buy monkeys @ 200 each.
 
 The lazy villagers also ran around to catch the remaining monkeys!
 
 They sold the remaining monkeys @ 200 each.?
 
 Then the merchant announced that he will buy monkeys @ 500 each!
 ???
 
 The villagers start to lose sleep! ... They caught six or seven monkeys, which was all that was left and got 500 each.?
 
 The villagers were waiting anxiously for the next announcement.?
 
 Then the merchant announced that he is going home for a week.  And when he returns, he will buy monkeys @ 1000 each!??
 
 He asked his employee to take care of the monkeys he bought.  He was alone taking care of all the monkeys in a cage.???
 
 The merchant went home.?
 
 The villagers were very sad as there were no more monkeys left for them to sell it at $1000 each.☹️??
 
 Then the employee told them that he will sell some monkeys @ 700 each secretly. ?
 
 This news spread like fire.  Since the merchant buys monkey @ 1000 each, there is a 300 profit for each monkey.?
 
 The next day, villagers made a queue near the monkey cage.???
 
 The employee sold all the monkeys at 700 each.  The rich bought monkeys in big lots.  The poor borrowed money from money lenders and also bought monkeys!
 ??
 
 The villagers took care of their monkeys & waited for the merchant to return. ?
 
 But nobody came! ...? Then they ran to the employee...?
 
 But he has already left too !?
 
 The villagers then realised that they have bought the useless stray monkeys @ 700 each and unable to sell them!?
 The Bitcoin will be the next monkey business
 ?
 
 It will make a lot of people bankrupt and a few people filthy rich in this monkey business.
 
 That' how it will work?

[ausproofs]

Good analogy...

[Unicorn]

Nice one Barry! That should spark a rush on tulips!

.... and here comes the controls .....

http://www.news.com.au/finance/economy/world-economy/south-korean-government-to-introduce-tough-new-bitcoin-rules-following-abnormal-speculation/news-story/5e3f51d3c79756e8945a4ef124d484fe

[ausjack]

:laugh2: good one Barry

[Basil]

It will interesting to see where all this leads,the SK crackdown is probably due to NK sniffing around Bit Coins as a way to obtain Foreign Reserves to buy external Goods/Services.
NK and China are also the chief suspects on attempts to hack CC Traders and Exchanges.

http://www.smh.com.au/business/bitcoin-tensions-rise-as-investors-claim-banks-freezing-their-accounts-20171229-p4yy3z.html


There will be some fortunes going down the drain in the years ahead me thinks.

https://www.brisbanetimes.com.au/world/south-america/venezuelas-own-bitcoinlike-cryptocurrency-will-be-ready-within-days-government-20171229-h0bap7.html

[runway]

Bitcon is the greatest scam ever
email inboxes are flooded with this spam
DO NOT FALL FOR THIS TRAP !!!

[Basil]

My relations Info.(earlier Post) at Xmas seems correct,China has officially announced last Week there will be a crackdown on Co.'s mining Bitcoins. Reason was reported as  due to the high electricity usage but obviously deeper concerns by the Chinese Govt.
https://www.gizmodo.com.au/2018/01/chinas-crackdown-on-crypto-mining-threatens-bitcoins-future/