[Janos]

The Bitcoin World is like currency speculation microcosm.

Why anyone would want to actually use a currency as unstable as Bitcoin completely escapes me, but it's good high-risk speculation if that's your thing.

[Phantom Hoover]

It's a currency speculation market backed by naive techno-anarcho-capitalists and the black market in drugs. Quite elegant, in a certain way.

[S-99]

It seems the paste is just a part of Mt. Gox's server-side code which was most likely written by Mark Karpeles (CEO). I'm not sure if there's an exploit in there but since this code handles all transactions anyone with access to it would have been able to redirect them.

I don't believe the code matters too much except in the area of being able to be controlled by certain gox employees which is of course a given since it's their code. However, if the code reveals something like where all bitcoins go, then that'll be fun

 The vague reasons for why all the money vanished are just as good as the bull**** that was fed to gox customers about disabling withdrawals. They just make this **** up as they go along

[karajorma]

This just keeps getting funnier. Someone is going to be eating a $620,000 slice of humble pie.

[Janos]

It's a currency speculation market backed by naive techno-anarcho-capitalists and the black market in drugs. Quite elegant, in a certain way.

The assasination attempts are a cherry on top.

[S-99]

It gets weirder. A bitcoin exchange ceo for flexcoin is dead. I think it's safe to say for myself that just getting all up on mt. gox for disappearing with funds is possibly what didn't happen. There's some kind of big conspiracy with the world of bitcoin getting a shake down.

[Phantom Hoover]

This may just, you know, be an unrelated suicide. Bitcoin isn't that important.

[S-99]

True, i was more or less following currently closing down bitcoin exchanges.

[Phantom Hoover]

dear god you cannot make this **** up

[Luis Dias]

their next project will be about reversing Entropy. i mean, they seem to have the basics of that one covered.

[S-99]

dear god you cannot make this **** up

A bitcoin gambling game that got popular with bitcoin gamblers; i love the name.

Apparently they had some problems of their own, but no one got fleeced. The guy operating it is potentially a good guy.

[MP-Ryan]

*facepalm*

"I'm going to invent a currency that will appeal to nerds and crooks and be free of regulation and oversight.  What could possibly go wrong?"

"Well, sir, human beings could be themselves."

"Nah.  That doesn't seem likely at all."

[Luis Dias]

what i love about ponzicoin is that it shatters the illusion, the ideology is now open for all to see, everything has gone totally transparent.

and they reek on it! they love the fact that it *is* a ponzi scheme!

"let's play ponzi against each other! nothing can go wrong! we are supermen dealing with forces mere mortals cannot comprehend let alone master!"


Ahaha.

[Luis Dias]

AND THE DARWIN AWARDS CONTINUE!

AT THIS RATE THERE WILL BE A DARWINIAN AWARD HYPERINFLATION!

[karajorma]

Well since none of them are actually dying, they can't win a Darwin Award. We need an award named after a famous economist to award these people.

[Luis Dias]

The Schumpeter award?

[karajorma]

Any reason why that person is particularly appropriate? My knowledge of economists is limited.

[Luis Dias]

He's the guy who coined the term (and the idea) "Creative destruction".

[Scourge of Ages]

Well since none of them are actually dying, they can't win a Darwin Award.

Technically, a person doesn't have to die to receive a Darwin, though that's the most common scenario. Simply becoming physically unable to further pass down your genetic material to future generations is enough.
Accidentally chop/rip/explode your own testes off? Darwin Award. Accidentally schedule yourself for an oophorectomy and sign all the forms without reading them? Probably a Darwin Award.

[karajorma]

Yeah, I know. In fact the original version of the award required that the person had no offspring either so as to be certain their genes weren't passed on.

Still, we could use a nice summing up for what a Schumpeter Award is. Darwin awards can easily be summed up along the lines of "Natural selection states that genes which are unfit will over time remove themselves from the gene pool due to their inability to survive long to breed compared to fitter genes. A Darwin Award is granted to those people who prevent themselves from breeding through their own spectacular stupidity." We kinda need something similar summing up the economics version.