*

Offline markjo

  • Purgatory
  • *
  • Posts: 4372
  • Zetetic Council runner-up
    • View Profile
Re: Ask Rushy about Bitcoins.
« Reply #180 on: March 04, 2014, 03:00:37 AM »
Then why did you bring up dividends when bitcoins were compared to stocks?

Why not?

Because it's irrelevant.
Abandon hope all ye who press enter here.

Science is what happens when preconception meets verification.

If you can't demonstrate it, then you shouldn't believe it.

*

Offline Rushy

  • Planar Moderator
  • *****
  • Posts: 7190
    • View Profile
Re: Ask Rushy about Bitcoins.
« Reply #181 on: March 04, 2014, 05:20:45 AM »
Because it's irrelevant.

It isn't, though.

*

Offline jroa

  • *
  • Posts: 3094
  • Kentucky Gentleman
    • View Profile
Re: Ask Rushy about Bitcoins.
« Reply #182 on: March 04, 2014, 06:20:09 AM »
Rushy used to be a great debater.  Now, he is only an empty shell of a bit coin want to be.

*

Offline markjo

  • Purgatory
  • *
  • Posts: 4372
  • Zetetic Council runner-up
    • View Profile
Re: Ask Rushy about Bitcoins.
« Reply #183 on: March 04, 2014, 02:10:51 PM »
Because it's irrelevant.

It isn't, though.
Then perhaps you should point out the relevance.
Abandon hope all ye who press enter here.

Science is what happens when preconception meets verification.

If you can't demonstrate it, then you shouldn't believe it.

*

Offline markjo

  • Purgatory
  • *
  • Posts: 4372
  • Zetetic Council runner-up
    • View Profile
Re: Ask Rushy about Bitcoins.
« Reply #184 on: March 04, 2014, 08:15:12 PM »
Hey Rushy, is Flexcoin a safe place to stash my bitcoins?
Flexcoin is shutting down.

On March 2nd 2014 Flexcoin was attacked and robbed of all coins in the hot wallet. The attacker made off with 896 BTC, dividing them into these two addresses:

1NDkevapt4SWYFEmquCDBSf7DLMTNVggdu

1QFcC5JitGwpFKqRDd9QNH3eGN56dCNgy6

As Flexcoin does not have the resources, assets, or otherwise to come back from this loss, we are closing our doors immediately.

Users who put their coins into cold storage will be contacted by Flexcoin and asked to verify their identity. Once identified, cold storage coins will be transferred out free of charge. Cold storage coins were held offline and not within reach of the attacker. All other users will be directed to Flexcoin's "Terms of service" located at "Flexcoin.com/118.html" a document which was agreed on, upon signing up with Flexcoin.

On the other hand, never mind.
Abandon hope all ye who press enter here.

Science is what happens when preconception meets verification.

If you can't demonstrate it, then you shouldn't believe it.

*

Offline Pete Svarrior

  • e
  • Planar Moderator
  • *****
  • Posts: 11072
  • (>^_^)> it's propaganda time (◕‿◕✿)
    • View Profile
    • The Flat Earth Society
Re: Ask Rushy about Bitcoins.
« Reply #185 on: March 04, 2014, 09:46:11 PM »
Hey Rushy, is Flexcoin a safe place to stash my bitcoins?
God damn it, how many times does this need to be said? If you stash your BTC online, you take a risk. If you store them with a 3rd party, you take a risk. No, Flexcoin is not a safe place to stash your BTC. This is elementary knowledge.
Read the FAQ before asking your question - chances are we've already addressed it.
Follow the Flat Earth Society on Twitter and Facebook!

<Parsifal> I like looking at Chinese Wikipedia with Noto installed
<Parsifal> I don't understand any of it but the symbols look nice

*

Offline Пардисфла

  • Administrator
  • *****
  • Posts: 6090
  • Professional computer somebody
    • View Profile
Re: Ask Rushy about Bitcoins.
« Reply #186 on: March 05, 2014, 12:58:22 AM »
Hey Rushy, is Flexcoin a safe place to stash my bitcoins?
God damn it, how many times does this need to be said? If you stash your BTC online, you take a risk. If you store them with a 3rd party, you take a risk. No, Flexcoin is not a safe place to stash your BTC. This is elementary knowledge.

You just got markjo'd.
when you try to mock anyone while also running the flat earth society. Lol

*

Offline Rushy

  • Planar Moderator
  • *****
  • Posts: 7190
    • View Profile
Re: Ask Rushy about Bitcoins.
« Reply #187 on: March 05, 2014, 02:24:04 AM »
Hey Rushy, is Flexcoin a safe place to stash my bitcoins?

On the other hand, never mind.

A bird in the hand is worth two in the bush.

*

Offline markjo

  • Purgatory
  • *
  • Posts: 4372
  • Zetetic Council runner-up
    • View Profile
Re: Ask Rushy about Bitcoins.
« Reply #188 on: March 05, 2014, 03:31:05 AM »
Hey Rushy, is Flexcoin a safe place to stash my bitcoins?
God damn it, how many times does this need to be said? If you stash your BTC online, you take a risk. If you store them with a 3rd party, you take a risk. No, Flexcoin is not a safe place to stash your BTC. This is elementary knowledge.

B-b-but Flexcoin was supposed to fix the problems with bitcoins.
How Flexcoin Solves Bitcoin’s Problems

Flexcoin solves nearly every problem that exists with the Bitcoin currency today.
Abandon hope all ye who press enter here.

Science is what happens when preconception meets verification.

If you can't demonstrate it, then you shouldn't believe it.

*

Offline Pete Svarrior

  • e
  • Planar Moderator
  • *****
  • Posts: 11072
  • (>^_^)> it's propaganda time (◕‿◕✿)
    • View Profile
    • The Flat Earth Society
Re: Ask Rushy about Bitcoins.
« Reply #189 on: March 05, 2014, 04:14:37 AM »
You just got markjo'd.
I couldn't help it :(
Read the FAQ before asking your question - chances are we've already addressed it.
Follow the Flat Earth Society on Twitter and Facebook!

<Parsifal> I like looking at Chinese Wikipedia with Noto installed
<Parsifal> I don't understand any of it but the symbols look nice

*

Offline Lord Dave

  • *
  • Posts: 5507
  • Grumpy old man.
    • View Profile
Re: Ask Rushy about Bitcoins.
« Reply #190 on: March 05, 2014, 02:20:36 PM »
Wow.  Bitcoins are being stolen all over the place. I guess storage isn't bank level yet.

*

Offline Rushy

  • Planar Moderator
  • *****
  • Posts: 7190
    • View Profile
Re: Ask Rushy about Bitcoins.
« Reply #191 on: March 05, 2014, 07:44:52 PM »
Wow.  Bitcoins are being stolen all over the place. I guess storage isn't bank level yet.

This is because most, if not all, Bitcoin startups are currently run by guys in their early twenties with a lot of money and very little work experience which can not be trusted, especially since these small startups turned into multi-million dollar companies overnight.

I'm waiting to see what large Wall Street level companies such as Circle (www.circle.com) plan to do with Bitcoin. It takes a long time to get real money transmission companies in the works because of all the bureaucratic red tape. You don't see any Mom & Pop corner banks and its because starting or being a bank is not easy, cheap, or fast. Too many people treat these Bitcoin startups as banks when they're tinker toys at best when compared to a real multi-million dollar company.

« Last Edit: March 05, 2014, 07:47:16 PM by Irushwithscvs »

Thork

Re: Ask Rushy about Bitcoins.
« Reply #192 on: March 05, 2014, 10:56:50 PM »
A bird in the hand is worth two in the bush.
One in the hand is never worth 2 in the bush.

You don't see any Mom & Pop corner banks and its because starting or being a bank is not easy
That's absolute nonsense.

There are thousands. Below is a list of the banks in just the UK. Yes, we have 5 massive banks that are on every high street, but we have hundreds of independent one branch banks. Mom and pop banks if you like. Most cater for high wealth individuals because most people just want to be able to use a cash card in any town, but if you want to put your savings in a small private bank, its no problem. You'll likely get better rates of interest too.
http://www.altiusdirectory.com/Finance/uk-banks-list.php

You also have hundreds in the states.
http://www.altiusdirectory.com/Finance/list-of-banks-in-usa.php
« Last Edit: March 05, 2014, 10:58:24 PM by Thork »

*

Offline Rushy

  • Planar Moderator
  • *****
  • Posts: 7190
    • View Profile
Re: Ask Rushy about Bitcoins.
« Reply #193 on: March 06, 2014, 12:31:05 AM »
One in the hand is never worth 2 in the bush.

I'm sure that notion has gotten you far in life.

There are thousands. Below is a list of the banks in just the UK. Yes, we have 5 massive banks that are on every high street, but we have hundreds of independent one branch banks. Mom and pop banks if you like. Most cater for high wealth individuals because most people just want to be able to use a cash card in any town, but if you want to put your savings in a small private bank, its no problem. You'll likely get better rates of interest too.
http://www.altiusdirectory.com/Finance/uk-banks-list.php

You also have hundreds in the states.
http://www.altiusdirectory.com/Finance/list-of-banks-in-usa.php

Those are more like credit unions than banks. They don't offer the complete services that a large bank can provide. They are also, funnily enough, more prone to losing your funds. Who would have thought?

*

Offline markjo

  • Purgatory
  • *
  • Posts: 4372
  • Zetetic Council runner-up
    • View Profile
Re: Ask Rushy about Bitcoins.
« Reply #194 on: March 06, 2014, 01:45:19 AM »
Too many people treat these Bitcoin startups as banks when they're tinker toys at best when compared to a real multi-million dollar company.
Yes, because no one could ever hack a "real multi-million dollar company."  ::)
http://www.timesfreepress.com/news/2014/jan/03/banks-race-to-replace-millions-of-hacked-cards/
http://thehackernews.com/2013/12/JPMorgan-Chase-bank-card-hacked_5.html
http://www.computerweekly.com/news/2240208933/More-than-half-top-bank-websites-hacked-study-shows
Abandon hope all ye who press enter here.

Science is what happens when preconception meets verification.

If you can't demonstrate it, then you shouldn't believe it.

*

Offline Pete Svarrior

  • e
  • Planar Moderator
  • *****
  • Posts: 11072
  • (>^_^)> it's propaganda time (◕‿◕✿)
    • View Profile
    • The Flat Earth Society
Re: Ask Rushy about Bitcoins.
« Reply #195 on: March 06, 2014, 03:12:01 AM »
Yes, because no one could ever hack a "real multi-million dollar company."  ::)
http://www.timesfreepress.com/news/2014/jan/03/banks-race-to-replace-millions-of-hacked-cards/
http://thehackernews.com/2013/12/JPMorgan-Chase-bank-card-hacked_5.html
http://www.computerweekly.com/news/2240208933/More-than-half-top-bank-websites-hacked-study-shows
I don't think the average user cares whether or not their bank can be hacked. What they care about is whether or not they'll lose their money as a result.
Read the FAQ before asking your question - chances are we've already addressed it.
Follow the Flat Earth Society on Twitter and Facebook!

<Parsifal> I like looking at Chinese Wikipedia with Noto installed
<Parsifal> I don't understand any of it but the symbols look nice

Thork

Re: Ask Rushy about Bitcoins.
« Reply #196 on: March 06, 2014, 07:08:33 PM »
Those are more like credit unions than banks. They don't offer the complete services that a large bank can provide. They are also, funnily enough, more prone to losing your funds. Who would have thought?
Only you. In the UK they are regulated by the FSA and your savings are protected by your government in the exact same way as they would be with a high street megabank. As for losing your funds more often, I'd love to see a citation for that please. Most do not indulge in the casino banking that gets high street banks in the shit. Depositor for depositor there is no way they lose anywhere like the funds.

The main point being your deposits are protected ... which they aren't with bitcoin as many bohemian investors are finding out.

*

Offline Rushy

  • Planar Moderator
  • *****
  • Posts: 7190
    • View Profile
Re: Ask Rushy about Bitcoins.
« Reply #197 on: March 06, 2014, 07:24:17 PM »
The main point being your deposits are protected ... which they aren't with bitcoin as many bohemian investors are finding out.

Bitcoin is a currency, not a bank.

Thork

Re: Ask Rushy about Bitcoins.
« Reply #198 on: March 06, 2014, 07:27:06 PM »
Its not a currency. We established this already.

*

Offline markjo

  • Purgatory
  • *
  • Posts: 4372
  • Zetetic Council runner-up
    • View Profile
Re: Ask Rushy about Bitcoins.
« Reply #199 on: March 06, 2014, 08:19:23 PM »
The main point being your deposits are protected ... which they aren't with bitcoin as many bohemian investors are finding out.

Bitcoin is a currency, not a bank.

Irrelevant to Thork's point.  Bitcoin deposits are not protected by any government or financial institution.
Abandon hope all ye who press enter here.

Science is what happens when preconception meets verification.

If you can't demonstrate it, then you shouldn't believe it.