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Anybody know what's up with Bitcoin lately ?

Discussion in 'BlackHat Lounge' started by marketusa, Apr 25, 2015.

  1. marketusa

    marketusa Newbie

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    I am still interested with cryptocurrency and their benefits but it seems like it's been dying lately. Anybody know what's going on ?
     
  2. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    Its just not as hyped up as it used to be, the media obsesses over certain things for months and months and then just moves to something else.
     
  3. invictum777

    invictum777 Registered Member

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    bitcoin is f"cking dead bro
     
  4. qrazy

    qrazy Senior Member

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    Seems the rage is over and traders are out, so it's in correction state. Don't try bottom fishing, never know to what levels it would fall.
     
  5. archon10

    archon10 BANNED BANNED

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    It died after silk road, because illegal shit is all bitcoins were ever used for.
     
  6. xNotch

    xNotch Registered Member

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    In my opinion it's not longer "edgy". It's not the new weird thing anymore people.
     
  7. nycdude

    nycdude Regular Member

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    Intresting ... Silkroad was crazy and I loved browsing that site, never bought anything (No, really) but I enjoyed checking it out. Those tons of places you speak about, you know how to find them?
     
  8. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    But its still good for protection from lawsuits by helping to remain anonymous.
     
  9. hustleup

    hustleup Regular Member

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    USA Gov being too much involved with Bitcoin, accepting it etc
     
  10. archon10

    archon10 BANNED BANNED

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    There were a few posted on here a while ago and I forgot to bookmark it. I found out about silk road from the mod section of a drug forum before it made the news. Most people dont' want to just post that stuff out in the open because that's when it's ruined.
     
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  11. Battleaxewarriors

    Battleaxewarriors BANNED BANNED

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    I never touched bitcoin, i saw a youtube video about a company in china/korea/japan - They filled a whole warehouse with computers and minied bitcoins. I feel sad for those kind of people because we all know Bitcoin is going to fall.
     
  12. reoman

    reoman Junior Member

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    I saw that too, they were probably smart enough to cash out most of their earnings.

    Bitcoin derives its value from being pitched as a crypto currency with scarcity. Here's the problem: there's hundreds of crypto currencies. They all fulfill the same function as Bitcoin. Furthermore, there's no scarcity. As soon as Bitcoin is done being mined, do you assume that everyone will choose to use Bitcoin exclusively? Or will they also start using other Crypto Currencies?

    The Bitcoin market is simply a speculation market. If you like to invest based on speculation, then go ahead. Personally, I like to invest in things I understand, and where I can control risk. Here, there's no control, only pure speculation.
     
  13. EvilByte

    EvilByte Registered Member

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    Your speculation comment is spot on Bitcoin is a failure as an actual currency because people just use it to speculate
     
  14. Nonilol

    Nonilol Elite Member

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    oh - like seo? :banana:

    bitcoin is less used nowadays, but far away from being dead.
    deepweb cant exist without it
     
  15. TayaX

    TayaX Jr. VIP Jr. VIP

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    The real question is will the BTC become mainstream and used as a way of payment or not.
    But to me the maths don't add up. I see 3 scenarios possible.

    1/ Bitcoin is used as a mainstream money, and used in big chains like mcdonalds or wallmart -> Price will raise because of it's rareness.
    I see 3 majors problems here.
    a) Who wants to pay is meal BTC 0.01 (suppose the price rise). Ok that's not a problem, but still can be
    b) Who will control the taxes paid on that ? at what rate ?
    c) How will stores adapt with the double accouting ?
    d) Is the price of deploying this way of payment really necessary ? for what benefits ?

    2/ A limited numbers of stores uses it (I think thats the case now) -> no raise, maybe slightly going down.
    a) what real benefits it has for the shop owner ?
    b) does the cost of putting the double accountability is really worth it ?

    3/ No new stores uses it -> it will remain the same price and go down every new store closed or law against it.
     
  16. lancis

    lancis Elite Member

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    You see less of Bitcoin in the news, and it might make you think that the popularity is decreasing.

    But things are moving forward under the surface. I joined a licensed sports' betting affiliate program about 3 months ago, that accepts payments in Bitcoins only, and was quite surprised by the number of sign-ups and the number of transactions.

    I'm obviously not alone in the business, and the money earned goes partially to the service providers (such as hosting). Once more services join the loop that money will propagate further, and the micro economy might become a macro economy.
     
  17. Vrill

    Vrill BANNED BANNED

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    Bitcoin is dead.
    It lost its real purpose which was to flood uncontrolled USD from US government to countries like China/Russia etc to undergo their strong money control system.
    Once they banned bitcoin because of that reason it was clear the US government wont invest anymore in bitcoins and that it could only go down.
    Also maybe some people awakened and saw that bitcoin has no real value and is so easy to manipulate which is just horrible.
     
  18. SuperTee

    SuperTee BANNED BANNED Premium Member

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    Bitcoin is not anonymous. Not at all. Even if you try hard, it's not. ;)
     
  19. durchi

    durchi Regular Member

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    Yea, try tracing where there coins went when they were mixed two times. I'm not aware of cases were government catched guys who wanted to stay anonymous while paying.
     
  20. gazmo

    gazmo Junior Member

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    20 posts and so few of them are informed.

    There are cases where government caught guys who wanted to stay anonymous while paying - and the guys caught are actually DAE officers.

    Bitcoin was never supposed to be anonymous and hasn't lost any of its purpose.

    Dark markets are alive and kicking.

    In 10 years it will be all over the place, once someone makes it idiot-friendly. It is not a good investment though, it very well could be another cryptocurrency taking its place. So it is not a good investment, but its idea is as far from dead as it can be.