Gold is Losing Buyers to Bitcoin

[Kriegsspiel]

https://www.theguardian.com/technology/ ... -bug-ether

"More than $300m of cryptocurrency has been lost after a series of bugs in a popular digital wallet service led one curious developer to accidentally take control of and then lock up the funds, according to reports."

[eufo]

https://www.theguardian.com/technology/ ... -bug-ether

"More than $300m of cryptocurrency has been lost after a series of bugs in a popular digital wallet service led one curious developer to accidentally take control of and then lock up the funds, according to reports."

"Effectively, a user accidentally stole hundreds of wallets simultaneously, and then set them on fire in a panic while trying to give them back."

Back into the ether?

[ochotona]

That's almost as bad as losing all your gold in a boating accident, which happened to me.

[l82start]

That's almost as bad as losing all your gold in a boating accident, which happened to me.

i swear i honestly thought it would float...

[boglerdude]

+1 for fiat? Inflation erases any lost treasures

[Don]

What was the name of that fellow who was giving out small amounts of bitcoin a few years ago on this site? It might have been a Dutch sounding name but not certain about that. I'd like to find his posts on here, if possible.

[dualstow]

Marc

Here you go viewtopic.php?f=10&t=5323#p82707

[Don]

Marc

Here you go viewtopic.php?f=10&t=5323#p82707

Thanks, dualstow!
How would one go about finding this bitcoin and cashing it out? Does anyone still own their's?
Was it on mtgox.com, which went under?

[dualstow]

I don’t think it was on Mt Gox. I still have mine, though I’ve been meaning to cash it in.

I see on Nov 18, 2013, I urged Marc to spend his bitcoin already because it had reached US$600. !

[Don]

I don’t think it was on Mt Gox. I still have mine, though I’ve been meaning to cash it in.

I see on Nov 18, 2013, I urged Marc to spend his bitcoin already because it had reached US$600. !

I just sent you a PM.

[dualstow]

I will read the pm in a sec. I just googled my wallet string which I found on page 7. Looks like I have 56 transactions and a balance of zero. Funny, I should have only one transaction:Marc’s gift. Hmm.

[Don]

Yes. I see how to get to my account and I click on make payment. It takes me to a page where I can select the amount of the bitcoin to sell and then instructs me to copy a link to my clipboard to use to send the payment. After that I don't know how to proceed. I would like to send the payment to myself somehow, but in the form of actual cash (say to Paypal if its easiest). I can get the link to make the payment but then what should I do to send the payment to myself? Thanks.

[eufo]

I will read the pm in a sec. I just googled my wallet string which I found on page 7. Looks like I have 56 transactions and a balance of zero. Funny, I should have only one transaction:Marc’s gift. Hmm.

Uh oh... sounds like you got ganked!

[dualstow]

False alarm; I was reading it wrong. Even though I googled my own wallet string, that seems to be Marc’s that I was looking at. (Zero bitcoins? Hope he has many wallets). I guess that’s the way the ledger works.

Turns out I still have the 0.1 btc. I’m sure I read that wrong a few years ago, too.

[eufo]

False alarm; I was reading it wrong. Even though I googled my own wallet string, that seems to be Marc’s that I was looking at. (Zero bitcoins? Hope he has many wallets). I guess that’s the way the ledger works.

Turns out I still have the 0.1 btc. I’m sure I read that wrong a few years ago, too.

Ended up being a quite generous gift! To hold or to sell? (sell)

[Kriegsspiel]

Bitcoin and Ethereum Prices Take a Hit After Another Cryptocurrency Was Hacked

Even though I googled my own wallet string, that seems to be Marc’s that I was looking at. (Zero bitcoins? Hope he has many wallets). I guess that’s the way the ledger works.

dualstow, it's possible to look at how much cryptocurrency other people have if you know how?

[dualstow]

I don't know if I'm looking at the complete picture, but it seems like if you know someone's wallet string, you can google it. It does show the balance as zero. Now I doubt Marc has zero, but maybe that particular wallet does.
I really know very little about bitcoin having done only one transaction: passively receiving fractional bitcoin from Marc.
(I'm waiting on verification from a trading site, but it appears to be out of order this week. Well, not appears. Customer service wrote back to me and confirmed it). So much for cashing out in a hurry. Maybe it'll be fixed when 1 bitcoin = $45.

We need to ask someone who knows what they're talking about. Where's that bitcoin_in_the_vp person? Or Pointed Stick?

[whatchamacallit]

Don't forget to claim your capital gains on Bitcoin sales. Especially if it is through coinbase. I expect they will get audited if they haven't already.

[Kriegsspiel]

I don't know if I'm looking at the complete picture, but it seems like if you know someone's wallet string, you can google it. It does show the balance as zero. Now I doubt Marc has zero, but maybe that particular wallet does.
I really know very little about bitcoin having done only one transaction: passively receiving fractional bitcoin from Marc.
(I'm waiting on verification from a trading site, but it appears to be out of order this week. Well, not appears. Customer service wrote back to me and confirmed it). So much for cashing out in a hurry. Maybe it'll be fixed when 1 bitcoin = $45.

We need to ask someone who knows what they're talking about. Where's that bitcoin_in_the_vp person? Or Pointed Stick?

Send out the

[dualstow]

hahaha!

Send out the

[dualstow]

By the way, that would be funny if bitcoininthevp and Marc were the same person...
...

[Cortopassi]

I wonder how this compares to oil and gas used to pull gold out of the ground.

https://powercompare.co.uk/bitcoin/

[Kriegsspiel]

I wonder how this compares to oil and gas used to pull gold out of the ground.

Now, it's gonna take resources to make money, how does bitcoin compare to gold in the resources it takes to "make" it: bitcoin is about 7x more resource-intensive than gold. That's using an "optimistic" number for the energy requirements of bitcoin. Taken from here. But if a bitcoin is worth $6,800 and an ounce of gold is worth $1,275, maybe you could say that bitcoin is only 1.3x as resource intensive ($673 worth of currency created/barrel of oil vs $910 for gold) using the same numbers?

[Cortopassi]

I wonder how this compares to oil and gas used to pull gold out of the ground.

Now, it's gonna take resources to make money, how does bitcoin compare to gold in the resources it takes to "make" it: bitcoin is about 7x more resource-intensive than gold. That's using an "optimistic" number for the energy requirements of bitcoin. Taken from here. But if a bitcoin is worth $6,800 and an ounce of gold is worth $1,275, maybe you could say that bitcoin is only 1.3x as resource intensive ($673 worth of currency created/barrel of oil vs $910 for gold) using the same numbers?

Thanks. Missed that.

[ochotona]

When you stop using the "coin" part of the name, the whole issue gets framed differently:

YOU'RE TRADING CURRENCY FOR TOKEN.

Why is it when they show images representing bitcoin, they show goldeny looking coins? Because it farks with the logical part of your brains.