More than $50m in crypto stolen by Ukranian Group CoinHoarders via Google AdWords

[Tech_Dreamer]

50 mill in crypto , also known as 1 million in a few weeks & then 2, then back to 1 million

[Energycore]

2 minutes ago, Tech_Dreamer said:

50 mill in crypto , also known as 1 million in a few weeks & then 2, then back to 1 million

I think you're giving a disservice to the volatility of the market. 50m in crypto is also known as 100 million in a few weeks then 20 million 2 days later. Back in the beginning of Bitcoin this one time it fell from $50 to $2 (can't find the source for that atm).

[Beskamir]

22 hours ago, Bcat00 said:

oh well, not that it matters to the average person. 

Don't plan to use cryptocoins nor will i accept payment in that form so no harm done. Take it all they like.

brb, gonna make a version of this but for banks rather than online cryptocurrency wallets/exchanges. (jk I've got better things to do in my spare time)

 

On a serious note though, this totally affects the average person, a bunch of people just became billionaires and demonstrated the viability of an exploit that can be used to make fake stores/banks which can be used to affect the average person.

[FakezZ]

On 16/2/2018 at 6:58 AM, Energycore said:

I dunno, how are pieces of paper with no real value and a number written on them a good thing for society?

Shhhhh let them believe that just because the can feel it, it is actually worth something and isn't just bloody (literally) worthless paper.

[FakezZ]

On 16/2/2018 at 8:03 AM, mr moose said:

but there isn't enough gold!

 

It always amazes me that people argue there isn't enough gold in the bank to underpin our economy like that somehow justifies fiat being inferior or a rort of some description. 

 

EDIT: I say our economy, but I really mean any economy as the arguments I hear are usually directed at the US, Aussie or English economies.

What do you mean there is not enough Gold? If the demand exceeds supply, then the price of Gold will just rise until we reach equilibrium. What does it matter how much Gold there is?

[mr moose]

8 hours ago, FakezZ said:

What do you mean there is not enough Gold? If the demand exceeds supply, then the price of Gold will just rise until we reach equilibrium. What does it matter how much Gold there is?

Because the economies value has risen well above the value of the amount of gold we have.    This is why the gold standard was replaced with fiat currency.

[FakezZ]

On 17/2/2018 at 10:33 PM, mr moose said:

Because the economies value has risen well above the value of the amount of gold we have.    This is why the gold standard was replaced with fiat currency.

Again, it does not matter how much gold there is. If the demand far exceeds the supply of gold then the price per ounce will just increase too. Again, what you're saying makes no sense. The amount of gold does not matter.

[Misanthrope]

I'm loving all these news about hardcore crime happening around crypto currency. Mainly because most proponents of these that were very passionate about it were Libertarians and Ancaps and we knew that as much as we might hate regulations at times and how those are manipulated by "the powers that be" well, once you have un-traceable, un-regulated currency this kind of shit happens: crime becomes rampant around it and it becomes total anarchy, just like we've said it would turn out.

 

I guess people stealing resources to mine and stealing coins themselves in addition to people using the cryptos to fund illegal operations and transactions just haven't heard of the non aggression principle

[mr moose]

9 hours ago, FakezZ said:

Again, it does not matter how much gold there is. If the demand far exceeds the supply of gold then the price per ounce will just increase too. Again, what you're saying makes no sense. The amount of gold does not matter.

You clearly do not understand the difference between the gold standard and fiat economies.

 

Until you understand the basic concepts of what the gold standard was and why economies switched to the FIat, you will not understand the nature of either.

 

[DrMacintosh]

These things happen when you use (in my opinion) illegitimate currency with arbitrary value assigned to it. 

 

It doesnt matter in the end. Every other day some Crypto something is hacked and people lose their “hard earned money” 

 

Blockchain is all good but coins need to go away, they don’t work for the average joe and simply aren’t sustainable in their current state and likely will never be.