NiceHash hacked, Bitcoins worth $70mil gone

[StayTuned]

Fuck bitcoins

Iota is the next level shit. Pls invest and drive value up k?

[Jeezy911]

bitcoin is not compatible with our societies it will end up banned / illegal sure people will still use it the same way people buy illegal drugs but it will never be mainstream once the laws catch up

its just a matter of how long this will take

You can't ban bitcoin unless you want to ban internet/smartphones ect. That's the beauty of it.

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you pray that one of the exchanges is actually open, not crashing long enough for you to actually trade and that your coins are not stolen during the whole process.


not to mention that there is actually a buyer on the other side.....

Misinformed, I have been cashing coins for 4 years have never had a problem.

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Across many social media platforms you can't go 5 posts without someone mentioning bitcoin. I'm a paranoid delusionist; but this to me is because people invested in it are desperate to trip more people into their bed. Good luck to them, only the greedy are gonna be punished.

Been hearing that since 2012, or before the last 5000% increase.

[AeneasBK]

Been hearing that since 2012, or before the last 5000% increase.

Yeah I mean 2012 thats just nonsense. I'm not saying there weren't posts about it but lol every 5th?

[StayTuned]

bitcoin is not compatible with our societies it will end up banned / illegal sure people will still use it the same way people buy illegal drugs but it will never be mainstream once the laws catch up

its just a matter of how long this will take

That's just straight out wrong. If they make trading cryptocurrencies illegal, they'll kill the next industrial revolution before it even really started. IoT will use crypto with a 100% certainty. Nothing else would make sense.

If they ban bitcoin, you'll just use another crypto.

It's our society that will have to change. Fiat is broken shit.

[Asotcha]

Is that even the biggest bitcoin robbery?

How does a bitcoin robbery even work? Aren't they basically imaginary?

[StayTuned]

How does a bitcoin robbery even work? Aren't they basically imaginary?

You can have a wallet on your hard drive. If that gets stolen, bb bitcoin

For example...

[Total Crica]

PayPal can go down too

Official currency is fully protected by law. If my bank gets hacked, or any other site that uses my official currency, it just changes the lock on their website doors and puts all those numbers right back where they were in my account. BitCoin can't do that when they are hacked, their currency has specific numbers that can't be duplicated and put right back into my online account.

[Shadowferal]

I keep my money in the bank...credit union actually.

Bitcoin buyers: Proceed with extreme caution

[dvaz]

How does a bitcoin robbery even work? Aren't they basically imaginary?

Private keys. You can claim you own the public address that contains 100000 bitcoin, but without its corresponding private key you can't do anything with them.

[Zan15]

You can't ban bitcoin unless you want to ban internet/smartphones ect. That's the beauty of it.

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Misinformed, I have been cashing coins for 4 years have never had a problem.

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Been hearing that since 2012, or before the last 5000% increase.

Really the downtime on those exchanges in the last 3 days that the actual exchanges reported were misinformation?
Those people online trying to cash out at 14-15k yesterday were making their stories up?




it took internet stocks quite a few years to finally crash and burn, and it was one hell of a burn that took over 14 years to recover and have the Nasdaq break even. even longer if you factor in the replacements of bankrupt companies

[breadisfunny]

You can have a wallet on your hard drive. If that gets stolen, bb bitcoin

For example...

and if your harddrive dies or gets lost or stolen......you now have no money. great idea.

[Theodarzna]

So much Memecurrency.

[Mormolyce]

I know the dept backed federal reserve bank notes are truly worthless after we left the gold and other precious metals "Standard".

But you can't pay for gas at a truck stop with rocks...

That's not true, gold only had value because we believed in it too.

Money fundamentally isn't a real thing, it's a shared social trust.

[Feltima]

and if your harddrive dies or gets lost or stolen......you now have no money. great idea.

Anyone who actually understands the impact of Cryptocurrency and is accepting it as the future of finance will be using a hardware wallet.

[Blamblam41]

Honestly crypto currencies are a bit hit or miss. I like the idea of it, but until it can be as widely accepted as say the dollar, I see no point in it aside from an investment minigame.

[Auxora]

Nicehash was kind of a unique situation where money was kept in their wallets until paid out, something most did every few weeks. The 2 catches being that the $64M was the "in-transit" money that hadn't been paid out yet, and that there were people who weren't bothering to get paid every few weeks and allowed their balance to get way too large to keep in external online storage like that. Bitcoin in a private wallet is safe. Many people also have a feeling this was an inside job.

But apart from that, there's no valid reason for Bitcoin to have gone from $600 last year to over $15,000 now. That's complete speculation (and maybe a little manipulation by really large investors) with people wanting to get rich quick. The addition of futures maybe could explain a small increase, but the possibility of China's crackdown offsets that. This isn't like a company stock that had a huge hit product and their revenues will skyrocket that might explain a huge increase in a year. The sad part is where you hear about people putting retirement account or their life savings in it hoping to jump on board. But it might as well be Vegas or lottery tickets because the bubble's going to burst one day out of the blue, and probably very soon.

[ComputerNerd]

rich people aren't REQUIRED to donate money to anyone. by requiring it it no longer becomes charity and instead is mandatory. which defeats the purpose of charity and instead changes it to a handout.

Depends on the aim of the charity.
Voluntary donations may be the normal means but that is more because that is the only way they can do it
If it became mandatory at higher incomes, would many charities actually turn their backs on it, and turn it down.
I suspect not.

[Blamblam41]

It's profound. but really I've heard of bitcoins like ten-or-so years ago and thought it was shit and to ignore it.

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I know the dept backed federal reserve bank notes are truly worthless after we left the gold and other precious metals "Standard".

But you can't pay for gas at a truck stop with rocks...

True, but that's only due to an acceptance of the system fundamentally.

Frankly, I'm disappointed that we live in a society where bartering is shunned.

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rich people aren't REQUIRED to donate money to anyone. by requiring it it no longer becomes charity and instead is mandatory. which defeats the purpose of charity and instead changes it to a handout.

No, it changes into taxes.

I don't understand why you people think enriching the masses to further enrich your riches isn't a requirement to success. I especially don't understand why you people think spending any kind of money on people is a 'handout'.
It sounds like a poor person who wishes they had money planning for what they don't want to do with the money.

[Jeezy911]

and if your harddrive dies or gets lost or stolen......you now have no money. great idea.

Have you ever did this crazy thing and put pictures that are important to you on 2 different devices, like maybe a hard drive and a flash USB? Well.. you can do that with bitcoin too.

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Really the downtime on those exchanges in the last 3 days that the actual exchanges reported were misinformation?
Those people online trying to cash out at 14-15k yesterday were making their stories up?

"you pray that one of the exchanges is actually open, not crashing long enough for you to actually trade and that your coins are not stolen during the whole process.


not to mention that there is actually a buyer on the other side....."



I find a pretty big difference in having to wait a couple hours because of high traffic or getting your coins stolen. One is reasonably accepted depending on the site, the other is the most important thing in crypto. You will not lose your coins if you are smart and use a reputable site like coinbase, but yes you may have to wait a couple minutes to cash out at times.

[chazus]

and if your harddrive dies or gets lost or stolen......you now have no money. great idea.

I feel like you aren't actually sure how 'storing it on a drive' works and what that means. you can have an 'offline wallet' and still keep it easily safe.