You thought you were forgetful?
Thread Starter
Join Date: Jul 2010
Location: Newcastle Upon Tyne
Age: 51
Posts: 1,463
You thought you were forgetful?
Man throws away hard drive with £210 million worth of Bitcoins on it.
BBC News - Bitcoin: Newport man's plea to find http://BBC News - Bitcoin: Newport m...wales-55658942
BBC News - Bitcoin: Newport man's plea to find http://BBC News - Bitcoin: Newport m...wales-55658942
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Join Date: Aug 2004
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Join Date: Apr 1998
Location: Mesopotamos
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With bit-coin being finite (you can't just print some more), when you lose some of it do the remaining bit-coins increase in value? Taking it to the extreme, if all bit-coins were lost but one, would that one bit-coin then be worth the combined value of the entire bit-coin ecosystem? And should that last remaining bit-coin be also lost would it change the price of bread?
I think it's high time for a new version of this crypto currency be developed which is impossible to lose and rendering the old currency null and void. This new and improved second incarnation should be called two-bit-coin.
I think it's high time for a new version of this crypto currency be developed which is impossible to lose and rendering the old currency null and void. This new and improved second incarnation should be called two-bit-coin.
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Join Date: Aug 2004
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I think it's high time for a new version of this crypto currency be developed which is impossible to lose
I have a system where I can't lose my money (subject to hacking, of course). It's called a "bank". Everyone can accept my payments, too.
Join Date: Apr 1998
Location: Mesopotamos
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I thought it already was - the "blockchain" system is supposed to mean that details are stored all through the system??
Hence the need for two-bit-coin.
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Too complicated for me - the blockchain has the agreed latest state of ones account after the last transaction but one can't access it to use it. Any system that relies on one's hard disc sounds pretyy dicey to me.
Join Date: Feb 2015
Location: Cincinnati, Ohio
Posts: 390
Following up on UniFoxOs thoughts - My wife and I receive our Social Security income via monthly direct deposit to C*m*r*c* Bank debit cards. We were delighted to receive an unanticipated $1,200 in stimulus monies, but came to the horrifying conclusion that if someone in "Big Gubmint" can press a button to scramble x dollars worth of electrons into one's account, what stops them or highly-skilled hackers from zeroing out that account, along with millions of others? c.f. "Salami Slicing" and "Penny Shaving".
- Ed
- Ed
Last edited by cavuman1; 16th Jan 2021 at 20:47. Reason: add words
Psychophysiological entity
Join Date: Jun 2001
Location: Tweet Rob_Benham Famous author. Well, slightly famous.
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What was the name of the new coin that was owned by IIRC an attractive Asian lady and possibly her brother? There was a dedicated TV program about it, and her, and him.
A man in Holland stood at the gates of his mansion and told of the fortune he'd made. He conceded he'd done something wrong. He was taking so much cash out that he decided to reinvest, hard. He said if things kept going as they were, he'd displace Bill Gates from his pinnacle. Things did go wrong, but he'd still got the mansion, and could be open enough to show himself to the world.
Poor folk were suffering. A young man in an Eastern country had sold his mother's land .7 of an acre and had committed her to a lifetime's menial work. She was standing there but could not speak English. She hadn't been told yet.
All around the world folk were being sucked dry - it seems the software was not at all as secure as BitCoin. In fact, the prime factor, the impossibility to mess with the software, had not be correctly written. But still it was sold, and sold, and sold.
The hunt was on. The owner was seen alighting from and aircraft in Athens. From Russia? Not seen again despite a LOT of people looking. Her brother was picked up in Canada or the US and held. However, he was portrayed as a simple side-kick.
Despite the billions involved, I haven't heard anymore.
Being so suddenly wealthy as a result of such an enterprise, it would be a puresole soul that could turn away billions because they were hurting the poor. I can imagine me agonising over it. Oooh, I made a billion yesterday. Perhaps I'll just play along for a few more hours and then put some money in the poor box.
.
A man in Holland stood at the gates of his mansion and told of the fortune he'd made. He conceded he'd done something wrong. He was taking so much cash out that he decided to reinvest, hard. He said if things kept going as they were, he'd displace Bill Gates from his pinnacle. Things did go wrong, but he'd still got the mansion, and could be open enough to show himself to the world.
Poor folk were suffering. A young man in an Eastern country had sold his mother's land .7 of an acre and had committed her to a lifetime's menial work. She was standing there but could not speak English. She hadn't been told yet.
All around the world folk were being sucked dry - it seems the software was not at all as secure as BitCoin. In fact, the prime factor, the impossibility to mess with the software, had not be correctly written. But still it was sold, and sold, and sold.
The hunt was on. The owner was seen alighting from and aircraft in Athens. From Russia? Not seen again despite a LOT of people looking. Her brother was picked up in Canada or the US and held. However, he was portrayed as a simple side-kick.
Despite the billions involved, I haven't heard anymore.
Being so suddenly wealthy as a result of such an enterprise, it would be a pure
.
Last edited by Loose rivets; 17th Jan 2021 at 01:47. Reason: sole into soul. :-(
Controversial, moi?
Join Date: Oct 2000
Location: UK
Posts: 1,592
You are talking about Ruja Ignatova.
When I read the article and the involvement of Multi-Level Marketing (MLM), the legitimate type of Pyramid Selling, it reminded me of an event I attended in London around the 1970s. If I recall correctly it was run by a company called Kimbermont UK. I could buy their cleaning fluid, called Kimbo, and if I recruited others to sell it I kept a percentage of their sales and....well you get the idea. It sounded good but I must have been developing my cynicism at that time because I couldn't believe it was so easy to become wealthy and walked away.
When I read the article and the involvement of Multi-Level Marketing (MLM), the legitimate type of Pyramid Selling, it reminded me of an event I attended in London around the 1970s. If I recall correctly it was run by a company called Kimbermont UK. I could buy their cleaning fluid, called Kimbo, and if I recruited others to sell it I kept a percentage of their sales and....well you get the idea. It sounded good but I must have been developing my cynicism at that time because I couldn't believe it was so easy to become wealthy and walked away.
Last edited by M.Mouse; 17th Jan 2021 at 13:31. Reason: Grammar.
Psychophysiological entity
Join Date: Jun 2001
Location: Tweet Rob_Benham Famous author. Well, slightly famous.
Age: 81
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That's the one. It's incredible how much I remembered of the story, bits kept leaping out. But then it is the stuff of Hollywood.
