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"Resilient" Bitcoin Surges Above $1000 As Zynga Confirms Adoption

Tyler Durden's picture




 

It seems the adoption of major US-based vendors of the digital currency is trumping the Chinese clamp-down on Bitcoin as first Overstock and now Zynga confirm their adoption of the crypto-currency. For the first time since the PBOC issued its statement, Bloomberg reports Zynga is partnering with BitPay to test Bitcoin payments. As ConvergEx's Nick Colas notes, "Bitcoin has been remarkably resilient in the face of all the bad news out of China. The strength shows a continued interest, which is a very positive sign."

 

 

Via Bloomberg,

Dani Dudeck, a spokeswoman for San Francisco-based Zynga, confirmed a post introducing a plan to test Bitcoin payments by the company on the reddit.com community website. Players will be able to pay via the BitPay payments service for players of FarmVille 2, CastleVille and other games, Zynga said.

 

“We look forward to hearing from our players about the Bitcoin test so we can continue in our efforts to provide the best possible gaming experience,” Zynga said.

 

Victoria’s Secret Stores LLC has signed up with Gyft, an app that lets users buy gift cards with Bitcoins. Overstock.com Inc. plans to start accepting Bitcoins next summer, Chief Executive Officer Patrick Byrne said in an interview last month.

 

We think there’s an underserved part of the market that wants to use Bitcoins and can’t,” Byrne said. The company needs time before it starts accepting Bitcoins in order to figure out how to process Bitcoin transactions and to hedge Bitcoin sales (the currency is highly volatile), he said.

 

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Sun, 01/05/2014 - 15:46 | 4302136 Dick Buttkiss
Dick Buttkiss's picture

BITCOIN!

Sun, 01/05/2014 - 15:53 | 4302158 Abitdodgie
Abitdodgie's picture

So Bitcoin is going up again and Goldcoin  has also gone up by $38 dollars ,but Goldcoin will go down when the real owners of the wealth of gold decide to take some more money from you and you cannot do a dam thing about it , so I guess you are the Bankers Bitchez

 

Sun, 01/05/2014 - 15:56 | 4302167 IridiumRebel
IridiumRebel's picture

You truly know everything.

Sun, 01/05/2014 - 16:04 | 4302182 Oh regional Indian
Oh regional Indian's picture

btc is missing a key piece...universal adoption will not happen without it.

ease of use.huge market opportunity...

ori

a little health advisory...

http://aadivaahan.wordpress.com/2014/01/05/h1n1-uscanada-exploding-global-pandemic-potential-possible-healingdefense-please-share-widely/

Sun, 01/05/2014 - 16:14 | 4302212 fonestar
fonestar's picture

.

Sun, 01/05/2014 - 16:16 | 4302229 CH1
CH1's picture

WAIT!

It's dead. I know it's dead!

Intimidating bots on ZeroHedge said so!!!

Sun, 01/05/2014 - 16:22 | 4302237 fonestar
fonestar's picture

government shills

Sun, 01/05/2014 - 16:26 | 4302246 tmosley
tmosley's picture

Probably not much of that.  From what I saw, it was mostly terrified and battered goldbugs.  They didn't realize that bitcoin and gold are compliments, not adversaries.

Sun, 01/05/2014 - 16:37 | 4302288 Manthong
Manthong's picture

Geez, isn’t this a little ridiculous?

I am actually starting to like the idea of crypto currency, but significant price action because you can buy a pretend pig or cow?

Am I missing something here?

Sun, 01/05/2014 - 16:40 | 4302299 fonestar
fonestar's picture

Because something is virtual does not mean it's "pretend".  Virtual cows and pigs are real.

Sun, 01/05/2014 - 16:43 | 4302308 akak
akak's picture

The intelligence of your argument is also virtual.

Sun, 01/05/2014 - 16:50 | 4302313 Popo
Popo's picture

All I have to say is: Zynga??? LOL. The company is a joke. Who cares?

Sun, 01/05/2014 - 16:53 | 4302322 akak
akak's picture

Well, all the muppets on CNBC have to have SOMETHING to blather about in between singing hosannas to and fellating Bernanke, don't they?

Sun, 01/05/2014 - 19:04 | 4302753 foodisgood
foodisgood's picture

Futures markets were made a mockery of in the 1630 by tulips.

Naggers who will never work a day in their life cause some daddy gave em a trust fund is why BitCon has any value today whatsoever. BOTTOMLINE

The day the the MSM tells a story of a dozen orphan children selling their 'hard earned bitcoin for a million(s)' is the day fonestar has to get a job.

The only way I will be wrong is when MY idea becomes real:

http://www.youtube.com/watch?v=r5_hFHHJhd4

Sun, 01/05/2014 - 19:08 | 4302767 malikai
malikai's picture

First of all, you only need to hit 'Save' once.

Second of all, please, if you're going to comment, try to be coherent.

Sun, 01/05/2014 - 20:32 | 4302965 foodisgood
foodisgood's picture

what part of this/the/my logic failed you?

Sun, 01/05/2014 - 22:50 | 4303320 Freewheelin Franklin
Freewheelin Franklin's picture

muh tulips

 

Sun, 01/05/2014 - 21:00 | 4302761 foodisgood
foodisgood's picture

bitcon's value is determined by folks who do not want to work for a living - they are the kind of people who fuk their mom 4$ and admire stars who wear pants below their ass (which has been a long time sign in prison that you were available for poking - makes sense, no?)

Mon, 01/06/2014 - 05:43 | 4303864 samcontrol
samcontrol's picture

anyone want to share the best short for zinga ?

Sun, 01/05/2014 - 17:08 | 4302369 TeamDepends
TeamDepends's picture

Mmmmm...  Virtual bacon!  Can you almost smell it?

Sun, 01/05/2014 - 17:19 | 4302394 Manthong
Manthong's picture

You might be on to something, there.

This might be an opportunity for Yellen to respond to the Bitcoin threat by issuing a Benjamin with a scratch and sniff that smells like steak or bacon.

Sun, 01/05/2014 - 22:52 | 4303326 Freewheelin Franklin
Freewheelin Franklin's picture

Bacon backed currency? 

 

Muh piggies

Sun, 01/05/2014 - 17:31 | 4302426 TheLooza
TheLooza's picture

I really want a 3x bitcoin etf so I can buy weekly options on them. Leverage on top of leverage with an extra helping of leverage. That's how I eat my lunch...urrr, get my lunch eaten. Anyways, I'm hungry.

Mon, 01/06/2014 - 00:23 | 4303539 digi
digi's picture

Buy yourself some actual bitcoin and you can leverage it 10x in either direction on btx.sx

Sun, 01/05/2014 - 19:40 | 4302866 Manthong
Sun, 01/05/2014 - 18:09 | 4302529 Haole
Haole's picture

BTC, BTChes

Sun, 01/05/2014 - 18:17 | 4302582 DaddyO
DaddyO's picture

Had to give you a green even though I'm a bitcoin skeptic...

DaddyO

Sun, 01/05/2014 - 17:06 | 4302360 chemystical
chemystical's picture

Zynga has operating income near $500MM USD.  Just ask founder Marc Pincus.

Victoria's Secret has OI in excess of $1BN.  Just ask Leslie Wexner the CEO of its parent company.   (Considering Wexner's intimate ties with sex trafficker and convicted pedophile Jeffery Epstein, maybe consumers in Palm Beach will be able to buy sex with 12-yr olds using Btc.  Considering Wexner's ties with ISR Ecstasy trafficking, perhaps that too can be purchased using Btc).

Sun, 01/05/2014 - 22:52 | 4303334 Freewheelin Franklin
Freewheelin Franklin's picture

Thanks for that info, Mr LEO.

Mon, 01/06/2014 - 03:12 | 4303746 ILoveDebt
ILoveDebt's picture

My house sits in the shadow of Wexner's house.  Sadly, it's over a block away from his.  

 

It's almost as ridiculous as I make it out to be. 

Mon, 01/06/2014 - 07:02 | 4303890 USisCorrupt
USisCorrupt's picture

What's even more funny are the morons that think green paper and electronic digits have value. I put more faith in Bitcoin personally. It's ALL about CONfidence. It's ONLY to be used as a means of exchange for REAL WEALTH, nothing more. Naturally PHYSICAL Gold and Silver come first. It comes down to being DIVERSIFIED. So many Muppets and they don't even realize what they are?

And we wonder why we are where we are? Truly AMAZING. They are known as virtural SHEEPLE, look in the mirror. 

Sun, 01/05/2014 - 16:54 | 4302342 Harbanger
Harbanger's picture

"They didn't realize that bitcoin and gold are compliments, not adversaries."

Why are TPTB in the WEST smashing PM prices with paper and while at the same time getting on-board with bitcoin?  Does China's central bank and other countries CB's buying up Gold at record levels feel battered?  Yes, battered by bullshit from us.

Sun, 01/05/2014 - 17:56 | 4302513 nmewn
nmewn's picture

And Harbanger BANGS IT HOME...lol.

"Why are TPTB in the WEST smashing PM prices with paper and while at the same time getting on-board with bitcoin?"

ANY ELECTRONIC TRANSFER can and will be tracked for a host of reasons...but leaving aside marketing & sales weasels and just looking at .gov...they see what you bought, how much was bought, when you bought it, how much you paid, what taxes were collected...and most importantly...where you were when you bought it.

Sun, 01/05/2014 - 18:02 | 4302524 Musashi Miyamoto
Musashi Miyamoto's picture

-1

Zerocoin + Drop

Sun, 01/05/2014 - 18:22 | 4302610 nmewn
nmewn's picture

Could you find it in your virtual heart to expand on that or do I have to go through your blockchain of thoughts stored on ZH?

Sun, 01/05/2014 - 18:57 | 4302720 Musashi Miyamoto
Musashi Miyamoto's picture

Sure,

Zerocoin is essentially a Trustless mixing service

http://zerocoin.org/ - How Zerocoin works

Zerocoin operates like a distributed laundry where the laundry is implemented within the Bitcoin network itself.

Zerocoin achieves this by creating a separate anonymous currency that operates side-by-side with traditional Bitcoin on the block chain. Zerocoins can be thought of literally as coins. They’re issued in a fixed denomination (for example, 1 BTC), and any user can purchase a zerocoin in exchange for the correct quantity of bitcoin. This purchase is done by placing a special new “Zerocoin Mint” transaction into the block chain.

Once a Mint transaction has been accepted by the Bitcoin peers, the same user can redeem her zerocoin back into bitcoins. She simply embeds a (preferably new) destination Bitcoin address into a “Zerocoin Spend” transaction, then sends it into the network. If the transaction checks out, the Bitcoin peers will treat it just like a normal Bitcoin transfer – meaning that she’ll receive the full bitcoin value of the coin (minus transaction fees) at the destination address.

The key to this process is to ensure that the bitcoins received at the end of this process are completely unlinked to the bitcoins that were used in the beginning. This is accomplished using a variety of cryptographic components, including digital commitments and zero-knowledge proofs. The end result is that it is mathematically infeasible to link the particular bitcoins used at the beginning and end of this process, other than through educated guesswork.
.
.
Drop - Anonymous address which is unconnected to the Reciever, where packages can be sent.

Commonly used when buying contraband online. Possibly a foreclosed house. There are several ways to drop items. Look around on the darknet for more info

Sun, 01/05/2014 - 19:28 | 4302826 nmewn
nmewn's picture

Sorry I asked...lol.

"Zerocoin achieves this by creating a separate anonymous currency that operates side-by-side with traditional Bitcoin on the block chain."

So you're transposing/counterfeiting/creating an "anonymous currency" to replace another supposedly anonymous currency.

"Zerocoins can be thought of literally as coins."

Ummm, no they can't. Did Satoshi invent these too?

"They’re issued in a fixed denomination (for example, 1 BTC), and any user can purchase a zerocoin in exchange for the correct quantity of bitcoin."

Who issues them and what is the accounts of ledger?

"This purchase is done by placing a special new “Zerocoin Mint” transaction into the block chain."

Am I to assume the purchase is free of charge? And if not, who profits?

"Once a Mint transaction has been accepted by the Bitcoin peers, the same user can redeem her zerocoin back into bitcoins."

And what recourse does one have if the "BitCoin peers" refuse to accept the ZeroCoin?

Sun, 01/05/2014 - 19:38 | 4302860 malikai
malikai's picture

I only did a little bit of research into it. But IIRC, zerocoin 'rides' on the bitcoin blockchain. Its purpose is to 'mix' the actual bitcoin somewhat like a decentralized a laundry service.

There's a paper out there that talks about it and explains it quite well, maybe one of the guys around here has a link to it. I don't.

Sun, 01/05/2014 - 19:55 | 4302889 nmewn
nmewn's picture

So what he's saying was...lets just say, imprecise at this point.

ZeroCoin is a part/feature of BitCoin that does not need to be purchased separately as he described?

Sun, 01/05/2014 - 20:24 | 4302948 Musashi Miyamoto
Musashi Miyamoto's picture

Correct. If implemented you would not need any third party laundry service to clean your coins.

Sun, 01/05/2014 - 19:54 | 4302892 wintermute
wintermute's picture

Zerocoin is too radical a change to the core bitcoin software. CoinJoin achieves much the same anonymity, works on top of bitcoin, and has a $40k bounty for its development.

 

Sun, 01/05/2014 - 20:20 | 4302943 Musashi Miyamoto
Musashi Miyamoto's picture

Anoncoin is working on implementation - https://anoncoin.net//TheCoin.html

Also the developers intend on releasing their own coin. - https://twitter.com/matthew_d_green/status/401797786347114496

Mon, 01/06/2014 - 03:15 | 4303747 discopimp
discopimp's picture
Zerocoin: Anonymous Distributed E-Cash from Bitcoin http://zerocoin.org/media/pdf/ZerocoinOakland.pdf

 

Sun, 01/05/2014 - 20:19 | 4302938 Musashi Miyamoto
Musashi Miyamoto's picture

you said "ANY ELECTRONIC TRANSFER can and will be tracked" I say you are wrong. regardless of what the bitcoin community chooses to do. Zerocoin will be implemented. let me address your specific concerns. a more detailed paper can be found at - http://zerocoin.org/media/pdf/ZerocoinOakland.pdf

For more general knowledge also read Chaum - http://cs.jhu.edu/~sdoshi/crypto/papers/chaum-c82.pdf for information on blind signatures

"Did Satoshi invent these too?"

no. the white paper was published by Ian Miers, Christina Garman, Matthew Green and Aviel D. Rubin

"Who issues them and what is the accounts of ledger?"
transaction details are then propagated to other node

Zerocoin written the into the blockchain through a
"Zerocoin Mint Transaction" then the

"Am I to assume the purchase is free of charge? And if not, who profits?"

Yes it is free. nominal transaction fees apply if one wishes to increase the priority of an order

"And what recourse does one have if the "BitCoin peers" refuse to accept the ZeroCoin?"

"accepted by the bitcoin peers" refers to the propagation of blockchain between p2p nodes. all transactions requires 6 successful confirmations to protect against double spending. the only reason the bitcoins could refuse is if you attempted to double spend or sent coins to a non-existent address.

view http://www.reddit.com/r/ZeroCoin for more resources on zerocoin

I enjoy reading many of your posts however on this issue your position is incorrect. i understand where you are coming from and i would encourage you to do your due diligence on computer-cryptography in general you find find several useful tools.

Non-interactive zero-knowledge and its applications - https://dl.acm.org/citation.cfm?doid=62212.62222

"The knowledge complexity of interactive proof systems" - http://crypto.cs.mcgill.ca/~crepeau/COMP647/2007/TOPIC02/GMR89.pdf

Sun, 01/05/2014 - 20:28 | 4302952 nmewn
nmewn's picture

I'm not the least bit interested in clicking on the links provided by one week olds, who have just been outed as a fool by those in the ZH community who I actually trust.

But...thanks for playing anyways ;-)

Sun, 01/05/2014 - 21:30 | 4303106 StychoKiller
StychoKiller's picture

So, rather than investigate a way out of the FRN matrix, you'd rather stay plugged in?  Say it ain't so!

Please, someone implode the Fed already!

Sun, 01/05/2014 - 22:10 | 4303220 nmewn
nmewn's picture

I've already offered my opinion of what it is...and most importantly, what it is not.

It is a vehicle to move money around, not money itself. Again, real money doesn't need anything besides its mere presence in the REAL WORLD to be described or accepted AS money.

A fucking bum on the street corner is not going to have a flash drive because...he's a bum. But he/she will accept cash or coin. The BitSters have a long way to go to get it from the stratosphere of  their imagination (where the elites with real money reside & dwell) to actual money everyone can use.

And...I'm not the least byte interested in subsidizing a bums flash drive to make it happen, he'll sell it and beg for another ;-)

Mon, 01/06/2014 - 07:44 | 4303919 nmewn
nmewn's picture

I've seen both of these articles already (no, I didn't click on them, didn't have to) these freeloaders are stealing electricity from the library and using frrrrrreeeeee! WiFi (therefore the taxpayer is subsidizing their activity) and one of them spends his day mindlessly clicking, to increase web view counts...thus its supposed popularity, being paid in BitCoin...by some elitist snob to do it.

Its unethical on a host of levels that I'm sure you can't grasp, so lemme splain...first and foremost, the abuse of a homeless man's time by someone who could easily afford to just give him charity (and release his time bondage of mindlessly clicking) or help him find a real job to be productive, so as to not be homeless...now he's paid just enough in BitCoin to keep him homeless and clicking.

Now, try and snatch the virtual pebbles from my hand again, grasshopper.

Mon, 01/06/2014 - 09:19 | 4304007 DaddyO
DaddyO's picture

I'll say it again and again, just shut the power off for a prolonged period and disruption of the efficacy occurs.

The ethereal nature of cyrpto-currencies is what I am skeptical about, real tangible goods will endure long after the novelty of the BTC has faded.

In a depression like scenario, real goods will have value. Being able to move funds around the world has no lustre for us plebes who invest locally in real businesses.

I can't use BTC to purchase goods, seeds or anything else at the local hardware store or flea market.

I'm not going to debate whether you should use them or not, they just don't work in my way of living at the moment.

DaddyO

Mon, 01/06/2014 - 00:25 | 4303555 digi
digi's picture

All sufficiently advanced things need tools to operate them. Is a digital movie not a real movie because it requires a computer to watch it? Gold pieces are a method to convey data just as bitcoin is and just as a credit card balance is. I'm not trying to get into the debate of currency vs money as it's too semantic. Point is they could all be sufficiently liquid under high rates of adoption with the correct tools.

Mon, 01/06/2014 - 07:13 | 4303896 tip e. canoe
tip e. canoe's picture

not meaning to gang up on you, but just wanted to point out a semantic inconsistency re: my pet theme of the day.   BC is being touted a trustless system, yet there are constant references to the BC community.     now, isn't trust the very foundation of a resilient community, even & especially a virtual community? 

trivial example: brother nmewn's unwillingness to click your links as you're a new member who's already been "outed" in his mind.  if you can divorce yourself from personal circumstances, the episode displays a lack of trust, something that seems to be a vital necessity in people's experience on the internets, especially when we are all interacting with each other in relative anonymity (outside the AllSeeingEyeThatKnowsAll that is).

now if BC was simply a tool for the darknets (and all the shady shadow shit that goes on there), that's one thing.   but thanks to Max, tylers & Reuters et al,  it's transformed into a much different beast entirely, whereby the average person who knows very little about cryptography and has zero care & use for darknets now knows about BC.    they do care about trust however, especially when they begin to lose faith in the institutions that they have been taught to trust their entire lives.     and from what it seems to me (correct me if i'm wrong), those are the folks (and their processing power) that the BC system needs to continue to survive as the attackers get more sophisticated (there's that trust issue again).

 

Sun, 01/05/2014 - 20:12 | 4302928 Crash N. Burn
Crash N. Burn's picture

"do I have to go through your blockchain"

 

 Ah the blockchain problem:

Blockchain size chart

 

Anyone want to guess how long it takes for that file to be to large.

Sun, 01/05/2014 - 20:28 | 4302951 TheHound73
TheHound73's picture

Purchase a 2TB harddrive for 0.168 BTC and store 153 blockchains on it.  Should be good for a while at current growth rates.

Sun, 01/05/2014 - 16:20 | 4302240 InjectTheVenom
InjectTheVenom's picture

According to Max Keiser , NFLX is next .

Sun, 01/05/2014 - 17:01 | 4302357 fonestar
fonestar's picture

And when Max tawks, fonestar listens.

Sun, 01/05/2014 - 18:10 | 4302547 tip e. canoe
tip e. canoe's picture

anyone remember this oldie but goodie?

"Crash JPM, Buy Silver.   Crash JPM, Buy Silver.   Crash JPM, Buy Silver."

Max = PT Barnum for the Digital Age, complete with Hugo Boss1 sponsorship.

(sorry, but someone had to say it.  junk away) 

1Russell Brand's rant on Hugo Boss

Sun, 01/05/2014 - 19:06 | 4302760 XitSam
XitSam's picture

I buy silver. If JPM crashes, that's a bonus.

Sun, 01/05/2014 - 19:59 | 4302906 tip e. canoe
tip e. canoe's picture

i like silver too, but not b/c a huckster with a 3 piece suit and a green screen tells me to, even (and especially) if he is telling me everything i wish to hear.

p.s. "buying" implies that silver is not a form of money in and of itself, no?

Sun, 01/05/2014 - 21:05 | 4303045 Manthong
Manthong's picture

You might say that Max is a wee bit animated and certainly he has been a little off on a few things, but on the whole, the discourse and guests on his show have no equal anywhere in media.

Watch the last 100 or so episodes.. and BTW, on the most recent one you will learn that James Turk has started a Bitcoin operation in London.

Sun, 01/05/2014 - 21:29 | 4303112 StychoKiller
StychoKiller's picture

Silver Eagles are considered currency in the USA, but good luck getting the right change from any transaction!

Mon, 01/06/2014 - 00:42 | 4303594 TheHound73
TheHound73's picture

"Crash JPM, Buy Silver" was so 2012.  For 2014 the new thing is "Crash Bitcoin, Buy Silver".

You're welcome.

Sun, 01/05/2014 - 17:58 | 4302517 Donewidit
Donewidit's picture

It could happen. I think it's missing "store of value".

Sun, 01/05/2014 - 23:01 | 4303359 Freewheelin Franklin
Freewheelin Franklin's picture

I think "store of value" means that it won't rot like fish. 

 

Fish would make a bad commodity to back notes with.

Sun, 01/05/2014 - 16:06 | 4302202 TeamDepends
TeamDepends's picture

We would like to apologize to those who, twenty years ago, said "virtual reality" was the wave of the future.  We scoffed, saying "why would anyone choose a simulated experience over the real thing?".

Sun, 01/05/2014 - 16:02 | 4302179 Harbanger
Harbanger's picture

In the meantime, you can become rich by trading bitcoins and swapping gains for pm's.

Sun, 01/05/2014 - 16:17 | 4302233 CH1
CH1's picture

you can become rich by trading bitcoins and swapping gains for pm's.

Sounds like a good plan to me.

Sun, 01/05/2014 - 16:23 | 4302248 fonestar
fonestar's picture

Unless of course you think 1 BTC > I oz silver and 1 oz gold.  Then it just makes sense to buy and hold BTC.

Sun, 01/05/2014 - 16:37 | 4302287 jcaz
jcaz's picture

Exactly- cause that's the secret to every Ponzi- don't sell.... EVER.

Sun, 01/05/2014 - 16:45 | 4302306 fonestar
fonestar's picture

Bitcoin is not a ponzi dumbass.  It's been explained one-thousand times before in case you're too thick to grasp it.

First adopters are rewarded as they should be as more advanced virtual beings.

Sun, 01/05/2014 - 18:05 | 4302512 akak
akak's picture

Bitcoin is a ponzi, it's backed by nothing, and more than that, what good is it if you can't eat it?

Sun, 01/05/2014 - 18:11 | 4302560 Haole
Haole's picture

Here all this time and still don't know the meaning of a Ponzi Scheme...

Gold is a Ponzi Scheme.

Yes, that is how stupid calling Bitcoin a Ponzi is. 

Sun, 01/05/2014 - 18:18 | 4302585 akak
akak's picture

Here all this time and still can't recognize sarcasm.

Sun, 01/05/2014 - 18:21 | 4302597 Haole
Haole's picture

Right, sarcasm.  Recognize me calling BS on you again.

Sun, 01/05/2014 - 18:23 | 4302603 akak
akak's picture

Go buy some zit cream.

Maybe you can even use bitcoins to do so, although I doubt it.

Sun, 01/05/2014 - 18:28 | 4302617 Haole
Haole's picture

More ignorant, boring BS comments from one of the preeminent BTC bashers on here. 

More sarcasm though, right?  /s

Sun, 01/05/2014 - 19:34 | 4302836 akak
akak's picture

Jesus loves you.

 

But everyone else thinks you're an asshole.

Sun, 01/05/2014 - 22:01 | 4303195 willwork4food
willwork4food's picture

Now boys, Jesus loves you both.

AND JESUS LOVE BITCOINS!

 

Mon, 01/06/2014 - 04:45 | 4303817 stacking12321
stacking12321's picture

"Go buy some zit cream.

Maybe you can even use bitcoins to do so, although I doubt it."

akak, you certainly can - use bitoins to buy a target card with gyft, then use the card at target to buy your zit cream.

but if that's too roundabout for you, remember, bitcoin is an open protocol, so you can design your own to be specifically used for buying zit cream, and you should call it zitcoin.

akak's zitcoin, now that has a nice ring to it.

 

Mon, 01/06/2014 - 03:47 | 4303773 satoshi101
satoshi101's picture

Here on 'libertarian-btc' world they say "END THE FED" the MIL-GOV say's GREAT, then the IMF will be print FIAT SDR's, under full CONTROL of MIL-GOV.

I hope the bitchez are happy for what they asked for.

***
I'll say this about BTC, for a long time the purpose of CIA was to control the black market, e.g. force cocaine, heroin, child-sex-slavery, human-blood worldwide to be traded in USD, but it gets too hard, so they move the black-market into BTC, and then given the public block-chain, they know exactly who to drone, ... when to drone, and WHY drone? Cuz every black-market pays for protection back to the MOB, and like a PIMP, if they see someone on the black-market who isn't authorized they want to know in Real-Time, that is the why the CIA/NSA gave you BTC.

Mon, 01/06/2014 - 05:17 | 4303842 TheHound73
TheHound73's picture

Or... you are CIA throwing dirt on my precious tulips.

Sun, 01/05/2014 - 17:17 | 4302386 chemystical
chemystical's picture

Please answer this question (which has been posed to you multiple times yet has gone unanswered):

You've stated more than once that you "sold some Btc early last year (at around $200USD/Btc if I recall) to pay some bills".

Months later you told us that you bought some at $800.

The question, again, is that if you are such a believer and have suggested that 5 or 6 figure USD/Btc is possible, then why on Earth would you sell Btc and then buy them back a few months later for a 400% fee and 1600% APR, when you could surely have "paid some bills" using a "maxed out VISA" even if it meant paying 24.9% APR?

Do you lack the faith that you want everyone else to have? 

Sun, 01/05/2014 - 17:45 | 4302487 hmmmstrange
hmmmstrange's picture

I don't have a bank account, credit card, or line of credit and 6 billion people are in the same boat as me.

Sun, 01/05/2014 - 17:57 | 4302520 Dick Buttkiss
Dick Buttkiss's picture

But unlike the others — http://sarahmonahan.com/wp-content/uploads/2012/06/boat_people.jpg — you've got Internet access!

Bon voyage!

Sun, 01/05/2014 - 18:07 | 4302557 chemystical
chemystical's picture

Um, the question was directed to fonestar, but thx?

Do you pay cash or barter for everything, or are you both 100% self-sufficient and exempt from taxation?  I tried paying property tax using wolf pelts once, but the clerk was unaware of the exchange rate.

 

Sun, 01/05/2014 - 19:36 | 4302845 akak
akak's picture

The current wolf pelt/bitcoin exchange rate is roughly 1:1. 

And every wolf pelt is unique!

I don't know what her problem was.

Sun, 01/05/2014 - 21:32 | 4303119 StychoKiller
StychoKiller's picture

She was holding out for mink or sable!

Sun, 01/05/2014 - 22:05 | 4303200 willwork4food
willwork4food's picture

@ Hmmm- get yourself a wallet somewhere. I might suggest Blockchain. Let me know your public key and I'll shoot you a few bits. Find your location on coinmap.org and locate the nearest place you can spend them, although not all of them are there it still's growing.

Sun, 01/05/2014 - 19:05 | 4302742 chemystical
chemystical's picture

Crickets from phoneystar.  Fucking crickets for the 5th time. 

Maybe one of his fellow circlejerkers can take a break and ask him to answer this one fucking question.

I'll even help with suggested responses:

1) I, phoneystar, do not believe in the same bullshit that I've been pumping here and at a half dozen other websites.  The bullshit that I expect you to swallow.

2) I, phoneystar, don't have a pot to piss in and needed to sell my 0.05 Btc to help pay the utility bill.  But I did later buy another 0.05 Btc at $800/Btc because Max Keiser told me to. 

Sun, 01/05/2014 - 22:27 | 4303264 chemystical
chemystical's picture

and still more crickets.  down arrows from those who have nothing to say are worse than crickets.  take a break from your circle jerk and try to form a cogent honest response; failiing that - go fuck yourselves (or is that on the agenda after the circle jerk?)

It's a question posed 5 times, and thus far the phoneystar is silent.  The other pumpers have no problem clicking red.  I can hear them now: "Pump faster!  It's about to blow."  Hey, another reference to your circle jerk.

Mon, 01/06/2014 - 03:24 | 4303755 ILoveDebt
ILoveDebt's picture

I believe bitcoin is still going to increase in value, but if you're holding $2000 in your wallet and you are poor right now, your greed may override your senses.  

I know a guy that does transactions in cash like that all the time.  His workers know he'll buy guns off of them for cash at any time and he buys them at about 40% what they are worth because the guys are just hard up.  

Temptation is faith's worst enemy.  

 

 

Mon, 01/06/2014 - 04:50 | 4303819 stacking12321
stacking12321's picture

did you ever consider the possibility that he doesn't want to talk to you, because you're an asshole?

 

Sun, 01/05/2014 - 23:08 | 4303377 Freewheelin Franklin
Freewheelin Franklin's picture

Oh, it's about becoming "rich"?

Sun, 01/05/2014 - 16:05 | 4302199 Unpopular Truth
Unpopular Truth's picture

Abit- this is because nobody trades bitcoin futures, not yet anyway

Sun, 01/05/2014 - 15:56 | 4302159 Abitdodgie
Abitdodgie's picture

.

 

Sun, 01/05/2014 - 16:53 | 4302324 CrashisOptimistic
CrashisOptimistic's picture

Yeah, I'll reply to that.

Gold has no value.  Bitcoin has almost no value.  A previous article this week made the point that only agriculture truly has value.

But beyond all that, this buying and selling is measuring it all in dollars.  Odd how that works.

Once again: The value of Bitcoin is not it's dollar total or anything else like that.  The best thing that could happen to Bitcoin is it becomes $1000 per coin and never changes from that number ever again -- because its only value is it won't xray at the airport when capital controls are imposed.  THAT is the key to all of it.  Gold xrays and is easily confiscated if you try to leave with it.  Passwords won't xray.

This is about moving money.  It's not about anything else.

Sun, 01/05/2014 - 17:18 | 4302388 aphlaque_duck
aphlaque_duck's picture

How many offshore trillions do you supoose might benefit from being saved in such a portable commodity?  That sounds very valuable indeed. 

Sun, 01/05/2014 - 18:01 | 4302526 Dick Buttkiss
Dick Buttkiss's picture

"This is about moving money.  It's not about anything else."

That's what makes it about everything else.

Sun, 01/05/2014 - 22:07 | 4303083 TheHound73
TheHound73's picture

There are 12 million BTC.  If BTC stays at $1000 only $12billion of the plebians' wealth could be crossing borders at any one time -- if every coin was actually fully engaged in that single activity.  Many of the early adopter coins haven't moved and perhaps up to 1 million coins have been lost.  My personal coins are set aside "for a rainy day" and are not available to others for the purpose of moving their wealth across borders (or for any other activity).

Sun, 01/05/2014 - 15:58 | 4302164 Oh regional Indian
Oh regional Indian's picture

Reggie's Hedgies looked interesting, incase you caught his btc product on the contributor horizontal.

Bitcoin.....we are missing a big pience of the puzzle to universal adoption....

 

And it's really quite simple...

ori

Some h1n1 warning/support below, just in case, because eit does not sound good.

http://aadivaahan.wordpress.com/2014/01/05/h1n1-uscanada-exploding-global-pandemic-potential-possible-healingdefense-please-share-widely/

Sun, 01/05/2014 - 16:02 | 4302178 fonestar
fonestar's picture

BITCOIN!

 

That's right friendo!

Sun, 01/05/2014 - 16:14 | 4302215 foxenburg
foxenburg's picture

yes, Bitcoin...Bitchez!

Sun, 01/05/2014 - 15:56 | 4302139 IridiumRebel
IridiumRebel's picture

BTC will soon receive the bankster cock! Good to see our serial BTC post downvoter is here. 

Sun, 01/05/2014 - 16:02 | 4302186 fonestar
fonestar's picture

More like the banksters will be taking it up the @$$her soon by the Bitcoin rebels!

Sun, 01/05/2014 - 16:07 | 4302196 IridiumRebel
IridiumRebel's picture

looking into coinbase.......looking

Sun, 01/05/2014 - 19:07 | 4302749 americanreality
americanreality's picture

Ditto on that. I see the bitcoin demographic getting their tax refunds in a month and putting a chunk into BTC.  Going up?  

Mon, 01/06/2014 - 01:31 | 4303658 DoChenRollingBearing
DoChenRollingBearing's picture

 

 

@ IR

Look for locals in your area: https://localbitcoins.com/

You have to join, but it's free.  I bought $300 worth of BTC from a local guy OK at a Starbucks (where else?).  Bring your laptop w/ wifi and your account ready to go.  Buy him lunch!

Sun, 01/05/2014 - 18:13 | 4302573 chemystical
chemystical's picture

Unless ofc Btc is the bankster's cock.  At which point your proposal would be what Swift termed "an orgy of self love".   Speaking of fonestar...

Sun, 01/05/2014 - 15:52 | 4302142 Alethian
Alethian's picture

Come on Amazon! 

Sun, 01/05/2014 - 15:58 | 4302163 Dick Buttkiss
Dick Buttkiss's picture

That would do it.

Sun, 01/05/2014 - 16:04 | 4302194 ParkAveFlasher
ParkAveFlasher's picture

Come on, IRS!

Sun, 01/05/2014 - 16:06 | 4302203 Unpopular Truth
Unpopular Truth's picture

THAT would do it!

Sun, 01/05/2014 - 16:18 | 4302226 fonestar
fonestar's picture

If you think the IRS can do anything about Bitcoin then you are clueless about P2P and BTC.

Sun, 01/05/2014 - 16:20 | 4302232 TeamDepends
TeamDepends's picture

Come on, REVOLUTION!!!

Sun, 01/05/2014 - 18:05 | 4302539 Dick Buttkiss
Dick Buttkiss's picture

It's coming, TD, it's coming.

Sun, 01/05/2014 - 18:16 | 4302584 Haole
Haole's picture

It's here but most of you are too busy huddled in your basements around your gold, freeze-dried food and ammo waiting for chaos and anarchy to see it.

Sun, 01/05/2014 - 18:24 | 4302607 akak
akak's picture

Asswipe.

Your specious ad hominems only prove how shallow and puerile your thinking truly is.

Sun, 01/05/2014 - 18:31 | 4302640 Haole
Haole's picture

All you have is mouse clicks on a little red arrow and spittle on your digital bib.  You are BS incarnate, now back in the basement.

Sun, 01/05/2014 - 18:36 | 4302659 akak
akak's picture

Dont' worry, you'll be less of an asshole when your zits clear up and you become less self-conscious and more comfortable in society.  Hopefully.

Sun, 01/05/2014 - 18:47 | 4302674 Haole
Haole's picture

Unlike you, who'll likely never be less of a consumate asshole...

So, anything relevant to say on the subject or just more namecalling and BS?

Yeah, that's what I thought...

Comical.

Sun, 01/05/2014 - 19:20 | 4302800 malikai
malikai's picture

You guys are so cute.

Can you give us a virtual hug? Just once.

Sun, 01/05/2014 - 23:09 | 4303386 Freewheelin Franklin
Freewheelin Franklin's picture

Muh freeze dried food

Sun, 01/05/2014 - 16:37 | 4302286 seek
seek's picture

Amazon has a competing product in development. (Amazon Coins, meh) and they've actively shut down any and all bitcoin to amazon gateway services (most of which manage about 100K in sales before the big A zaps them.)

I agree Amazon will be the turning point, but I suspect we have a long wait on our hands. I also have to wonder if Zynga, Overstock, etc are getting visits from dark suit guys about why it's a bad idea. My guess is they wouldn't visit Overstock because they'd blab about it.

Sun, 01/05/2014 - 17:41 | 4302470 Bunga Bunga
Bunga Bunga's picture

Amazon Coin is just a digital gift card, not a virtual currency like other open sorce, decentralized ones.

Sun, 01/05/2014 - 18:07 | 4302549 Dick Buttkiss
Dick Buttkiss's picture

And unless AC is open-source and accordingly decentralized, it's DOA.

So why would Amazon attempt such a stupid thing?

Sun, 01/05/2014 - 18:40 | 4302676 JamesBond
JamesBond's picture

agreed, and i have brought this up before...

there will be micro-universes of markets that are self-sufficient.  there will be a wal-mart universe where you can get their debit card or credit card and buy their products. apple all ready has its own universe.  someday, a crypto currency will have its own too.

i can imagine amazon having its own credit/debit card system just for its universe.  they will all kiss the TBTFs goodbye...

 

jb

Sun, 01/05/2014 - 17:21 | 4302401 BitStorm
BitStorm's picture

You can get Amazon gift cards through Gyft. Plus, Gyft will give you 3% back in points redeemable for more gift cards.

Sun, 01/05/2014 - 15:54 | 4302145 One And Only
One And Only's picture

Netflix rumored to accept bitcoin soon

Sun, 01/05/2014 - 16:42 | 4302297 jcaz
jcaz's picture

Sure they are...... 

Mc D's rumored to be adding BitCoin to their Monopoly game soon- scratch away, bitches.....

Sun, 01/05/2014 - 16:00 | 4302147 JustObserving
JustObserving's picture

Now you can use bitcoin to help plow your digital fields.

Zynga, best known for online games like “FarmVille,” has begun testing the use of bitcoin for in-game payments. In a statement posted to the website Reddit, Zynga said it is working with BitPay, a bitcoin payments company, to accept the currency in a handful of its games.

Another fucking insanity.  How much does Zynga collect in dollars for its handful of games?  But do not be surprised for ZNGA to double tomorrow (currently 3.97) even as it collects 10 bitcoins a month.  The Bernanke put is always working for you.  Stocks are only allowed to go up.  Now if TWTR were to accept bitcoins, it would hit $100 tomorrow.

http://blogs.wsj.com/digits/2014/01/05/zynga-tries-out-bitcoin-for-in-game-payments/?mod=yahoo_hs

Sun, 01/05/2014 - 16:17 | 4302218 Skateboarder
Skateboarder's picture

Fuck that good for nothing company and the monstrosity it depends on.

It makes sense that you digital mine some digital coin to pay for digital resources to plow your digital fields.

*can't stop puking*

Sun, 01/05/2014 - 16:27 | 4302256 fonestar
fonestar's picture

Why do you hate Farmville?  More people are into virtual farming these days.  If the first pilgrims in North America had computers and internet access they would have been virtual farmers too.

Sun, 01/05/2014 - 16:36 | 4302270 Motorhead
Motorhead's picture

Is that why they use the term "bytes"?

Sun, 01/05/2014 - 16:38 | 4302278 fonestar
fonestar's picture

Yes of course, modern meals are held as bytes in running memory.

Sun, 01/05/2014 - 16:41 | 4302291 akak
akak's picture

Byte me.

 

(Virtually, of couse.)

Sun, 01/05/2014 - 16:41 | 4302300 Motorhead
Motorhead's picture

ASCII a question, get an ANSI.

Sun, 01/05/2014 - 17:18 | 4302391 TeamDepends
TeamDepends's picture

If someone jumps the virtual shark, can you ctrl-C it?

Sun, 01/05/2014 - 16:38 | 4302292 swmnguy
swmnguy's picture

If you get all your food from a store, then sure, have fun with "virtual farming."  If, on the other hand, you need some food to eat, it will involve dirt and there won't be anything "virtual" about it.  Actually all basic human needs exist whether or not there is electricity.  As do the means to satiisfy those needs.

Sun, 01/05/2014 - 16:47 | 4302311 fonestar
fonestar's picture

What are you tallking about?  Pre-internet physical people?  So what about them and why farm for them?  Ever heard of a grocery store?

Sun, 01/05/2014 - 16:55 | 4302328 swmnguy
swmnguy's picture

I like your comments and your persona. You're funny.

Sun, 01/05/2014 - 19:17 | 4302789 XitSam
XitSam's picture

Could fonestar be MDBs stupider clone?

Sun, 01/05/2014 - 16:53 | 4302321 Skateboarder
Skateboarder's picture

Because it is the complete antithesis of our existence as gardeners.

Sun, 01/05/2014 - 16:53 | 4302336 fonestar
fonestar's picture

Whose existence?  I don't know anything about gardening but I heard you need dirt, cow crap and water and maybe seeds.  I exist as a networker, FOSS user, blogger and all around virtual dude.

Sun, 01/05/2014 - 17:34 | 4302452 Skateboarder
Skateboarder's picture

You crack me up fone. To a long and healthy virtual life (while cheap energy lasts).

Yep, dirt, cow crap, water and seeds. Throw 'em all in the blender, give it a whirl and ta-da - plants!

Sun, 01/05/2014 - 17:40 | 4302467 TeamDepends
TeamDepends's picture

Don't worry bro, when they come crawling (literally) up to your ranch, (no, not a virtual ranch, Jesus Christ do we have to hold your hand?!) begging for a tomato you can say sure, but I'm going to pitch it into your mouth, baseball style.

Sun, 01/05/2014 - 18:06 | 4302543 Skateboarder
Skateboarder's picture

+1 TeamDepends. One of the points my mother and I regularly bring up is the appreciation for raw ingredients, their quality, and the means of their procurement. The respect is at a low, wethinks.

Sun, 01/05/2014 - 21:06 | 4303038 DaddyO
DaddyO's picture

I've been telling my kids for most of their lives that stupidity is terminal.

The coming hard times will prove me right based on the trolling here on the hedge.

Had fresh greens, cabbage and carrots from the garden for dinner...

DaddyO

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