Northern Iraq falls to Al Qaeda, $400 million looted from central bank.

[UncleBuck]

View attachment 3181380

that copy and paste spam from nontheist only solidified kynes' fine work.

 

[Harrekin]

DERP.

the Yuan is, under chinese law, INVALID outside the PRC, hong kong and macau.

there is no Yaun international currency exchange

if you take a trip to china and come back with a fist full of Yuan, you cant convert it to real monies without losing your shirt to a rigged exchange rate (Us dollar or euro to Yaun, super easy, Yuan to aything else: harder than algebra, and the rate is rock bottom low) the Yuan is like Disney Dollars. it's only valid in their country, and selling it back for real monies is a losing proposition every fucking time

china has set the Yuan up to be a siphon for international currencies. foreign money can go in, but the Yuan has almost no value outside the PRC.

read this shit:

"It is not generally possible to obtain Chinese currency outside of China. There is no limit to the amount of non-Chinese currency you may bring in to China, although you are supposed to declare larger amounts (over US$ 5,000). It is relatively simple to change money into RMB in branches of the Bank of China. Larger hotels also have currency exchange, but some will only cater for guests. There is no competition in exchange rates. The standard rate applies everywhere. It is illegal (and risky!) to exchange money outside of the banking system.

NOTE Banks will only accept notes in perfect condition. The smallest tear or defacement will result in your cash being refused. UK visitors should note that Scottish or Northern Ireland bank notes are NOT accepted. Major travellers' cheques are accepted.

More problematic is changing RMB back to foreign currency. The standard contract stipulates that a certain percentage of your salary can be exchanged. This is normally set at 30%, but can be higher. However, contracts aside, it can prove difficult to make the actual exchange. This should change with China's entry to WTO.

Chinese law states that no more than ¥20,000 in RMB may be taken out of the country. That said, I have never been asked to show my money on exit. RMB cannot easily be exchanged in the US or Europe (apart from Switzerland!). It is possible to exchange RMB in Exchange Offices in Australia (not the banks) but only at an extremely poor rate. It is possible to change RMB in Hong Kong and in Bangkok."
~ http://www.liuzhou.co.uk/china/money.htm#ixzz34sipUQM6

As I said, you totally couldn't use the Yuan to buy shit from Chinese producers.

i dont accept them, and no merchant does.

electronically stored virtual currencies are nothing new.

you can buy legendary swords in world of warcraft for real dollars, but it's still a sucker move.

you might aswell "invest" in "Linden Dollars" and buy a virtual house. but dont be surprised if it doesnt keep out the rain.

Oh you don't accept them? Well fuck me!

Fine, I won't try pay for fruit picking services in BTC then.

 

[Nutes and Nugs]

Pay the illegals in BitCoins.

 

[Harrekin]

Pay the illegals in BitCoins.

Bitcoin still needs to be produced and there is a finite amount available.

Why pay them in something with better underlying fundamentals than the dollar that is essentially impossible to tax?

 

[Nutes and Nugs]

Bitcoin still needs to be produced and there is a finite amount available.

Why pay them in something with better underlying fundamentals than the dollar that is essentially impossible to tax?

It would come down to the backing of cash, gold or whatever.
All currencies have gone to hell.

 

[ayr0n]

We should have stayed the Fuck out of Iraq. Even Afghanistan... if a member of a gang in Germany pulled off an act of terrorism in the US would we have invaded Germany? Hell naw. "Train and arm" the Iraq army n they lay down the weapons n run - fueling the violence capacity even further in the already volatile region. Fuck the US I'm going to Canada.

I guess their weapons were a little dated so we had to stock them back up with some new toys n destabilize the region a little further to keep the turmoil (err oil) flowing smoothly. Drive them prices up n squeeze every cent out before something clean and renewable becomes available to us. The tech already exists. Just being buried n demonized atm...kinda like a plant I know about that could rival the woodcutting industry n provide textiles and fabrics of superior quality...but instead became a scheduled substance.

To sum things up: greed is almost as detrimental to the advancement of mankind as religion is...mmkay?

 

[ChesusRice]

Everyone knows that you don't use online storage for storing your coins.

Those people gambled and lost, and posting 5 links to the same story is the same as posting one, Ladyboylover69.

•List of events in rough chronological order◦Stone Man Loss
◦Ubitex Scam
◦Stefan Thomas Loss
◦Allinvain Theft
◦June 2011 Mt. Gox Incident
◦Mass MyBitcoin Thefts
◦MyBitcoin Theft
◦Bitomat.pl Loss
◦Mooncoin Theft
◦Bitcoin7 Hack
◦October 2011 Mt. Gox Loss
◦Bitscalper Scam
◦Bitcoin Savings and Trust
◦Andrew Nollan Scam
◦Linode Hacks
◦Betcoin Theft
◦Tony Silk Road Scam
◦May 2012 Bitcoinica Hack
◦Bitcoin Syndicate Theft
◦July 2012 Bitcoinica Theft
◦BTC-E Hack
◦Bitfloor Theft
◦Cdecker Theft
◦2012 50BTC Theft
◦2012 Trojan
◦Bit LC Theft
◦BTCGuild Incident
◦2013 Fork
◦Bitcoin Rain
◦ZigGap
◦Ozcoin Theft
◦Just Dice Incident
◦Silk Road Seizure
◦Inputs.io Hack


This list is from 2 years ago.

 

[Harrekin]

•List of events in rough chronological order◦Stone Man Loss
◦Ubitex Scam
◦Stefan Thomas Loss
◦Allinvain Theft
◦June 2011 Mt. Gox Incident
◦Mass MyBitcoin Thefts
◦MyBitcoin Theft
◦Bitomat.pl Loss
◦Mooncoin Theft
◦Bitcoin7 Hack
◦October 2011 Mt. Gox Loss
◦Bitscalper Scam
◦Bitcoin Savings and Trust
◦Andrew Nollan Scam
◦Linode Hacks
◦Betcoin Theft
◦Tony Silk Road Scam
◦May 2012 Bitcoinica Hack
◦Bitcoin Syndicate Theft
◦July 2012 Bitcoinica Theft
◦BTC-E Hack
◦Bitfloor Theft
◦Cdecker Theft
◦2012 50BTC Theft
◦2012 Trojan
◦Bit LC Theft
◦BTCGuild Incident
◦2013 Fork
◦Bitcoin Rain
◦ZigGap
◦Ozcoin Theft
◦Just Dice Incident
◦Silk Road Seizure
◦Inputs.io Hack

You're genuinely retarded.

Want me to post links of all the counterfeiting and incidents of people stealing USD?

I guaran-fuckin-tee therell be more than for BTC.

My BTC wallet is secure as fuck; offline, laminated and in a safe.

 

[ayr0n]

•List of events in rough chronological order◦Stone Man Loss
◦Ubitex Scam
◦Stefan Thomas Loss
◦Allinvain Theft
◦June 2011 Mt. Gox Incident
◦Mass MyBitcoin Thefts
◦MyBitcoin Theft
◦Bitomat.pl Loss
◦Mooncoin Theft
◦Bitcoin7 Hack
◦October 2011 Mt. Gox Loss
◦Bitscalper Scam
◦Bitcoin Savings and Trust
◦Andrew Nollan Scam
◦Linode Hacks
◦Betcoin Theft
◦Tony Silk Road Scam
◦May 2012 Bitcoinica Hack
◦Bitcoin Syndicate Theft
◦July 2012 Bitcoinica Theft
◦BTC-E Hack
◦Bitfloor Theft
◦Cdecker Theft
◦2012 50BTC Theft
◦2012 Trojan
◦Bit LC Theft
◦BTCGuild Incident
◦2013 Fork
◦Bitcoin Rain
◦ZigGap
◦Ozcoin Theft
◦Just Dice Incident
◦Silk Road Seizure
◦Inputs.io Hack


This list is from 2 years ago.

Oooh this makes me want to invest in digital currencies. On the flip side I'm sure we could assemble a nice long list of scandals and thefts for "government backed" currencies.

edit:
oh u beat me to it

You're genuinely retarded.

Want me to post links of all the counterfeiting and incidents of people stealing USD?

I guaran-fuckin-tee therell be more than for BTC.

My BTC wallet is secure as fuck; offline, laminated and in a safe.

 

[Doer]

You know those "exchange" thingies?

You know why they're called that, right?

EDIT: Also, Bitcoin is set to overtake PayPal for transaction processing volumes this year, so yeah, totally worthless.

Apple is setting up to take Bitcoin, I'd say that means we have a WINNER!!

So, just when Ben Franklin thinks he rules the word.....BItcoin.

Financing anything and everything, Uncle Sam.

They say they will cap at 21 million. And you thought Bill Gates was smart?

Or only as much as can fit in those little red jars.
http://freedomwat.ch/2013/11/28/bitcoin-mining-is-getting-out-of-control/
http://freedomwat.ch/2013/11/28/bitcoin-mining-is-getting-out-of-control/
“As website Hong Wrong points out, the puzzles are getting increasingly difficult. And once 21 million Bitcoins are produced, production will cease."

 

[schuylaar]

Sure, but its only up 600,000% since its inception. Totally a bad call for those early adopters.

Looks like that $80,000 bet on oil futures should net one at least $240,000 in pure profit, if it really goes Bonkers, $2.8 Million.

are you still using rep math to calculate?

 

[Harrekin]

Apple is setting up to take Bitcoin, I'd say that means we have a WINNER!!

So, just when Ben Franklin thinks he rules the word.....BItcoin.

Financing anything and everything, Uncle Sam.

They say they will cap at 21 million. And you thought Bill Gates was smart?

Or only as much as can fit in those little red jars.
http://freedomwat.ch/2013/11/28/bitcoin-mining-is-getting-out-of-control/
“As website Hong Wrong points out, the puzzles are getting increasingly difficult. And once 21 million Bitcoins are produced, production will cease."

PayPal recently sent out a survey re: Bitcoin.

Also rumour is floating that EBay is considering the viability of Bitcoin one their site.

If EBay starts accepting it, I probably won't be posting here anymore cos the price of Bitcoin will literally go to the moon and I'll be sitting on a tropical island somewhere drinking Margueritas...

Unless they have WiFi...then I'll still go on troll patrol, for the lulz.

 

[Doer]

According to the United States Department of Treasury, an estimated 70 million counterfeit dollars are believed to be in circulation, or approximately 1 note in counterfeits for every 10,000 in genuine currency, with an upper bound of 2.5 counterfeit per 10,000 genuine notes.

Superdollars, very high quality counterfeit one hundred-dollar bills, were some of the most widespread distributed counterfeit American dollar bills and were still being produced after 2007. The Congressional Research Service has conducted a study and concluded with an accusation that North Korea was responsible for their production, but Pyongyang denied any involvement with Superdollar.[4]

Peru 2001 CB-B2 series $100 bill incident
In 2005, Peruvian Banks ceased to accept $100 bills from the 2001 series CB-B2, due to a detection in a series of counterfeit bills in Peruvian circulation. The Peruvian media reported that the notes were so well made that they were "perfect fakes". The differences between them and genuine bills were reportedly minuscule and difficult to detect.[5] According to Peruvian news reports, a printing plate from the Bureau of Engraving and Printing was stolen by a criminal, with possible links to al-Qaeda, and the plate was likely used to produce the counterfeit bills.[6]

http://en.wikipedia.org/wiki/Counterfeit_United_States_currency

 

[schuylaar]

View attachment 3181380

daaaaaaaaaaaa fuuuuuuuuuuuuuuuuuck?

 

[Doer]

It would come down to the backing of cash, gold or whatever.
All currencies have gone to hell.

Do you think our currency is actually backed by gold? Or is that just the story?

 

[Doer]

daaaaaaaaaaaa fuuuuuuuuuuuuuuuuuck?

If you put on diapers and spread your legs and still don't have a tight package?

Wuuutaaaaaafuuuuuuuuuuuuuuuuuuuk?

 

[ayr0n]

Do you think our currency is actually backed by gold? Or is that just the story?

"Federal Reserve notes are not redeemable in gold, silver, or any other commodity. Federal Reserve notes have not been redeemable in gold since January 30, 1934, when the Congress amended Section 16 of the Federal Reserve Act to read: "The said [Federal Reserve] notes shall be obligations of the United States….They shall be redeemed in lawful money on demand at the Treasury Department of the United States, in the city of Washington, District of Columbia, or at any Federal Reserve bank." Federal Reserve notes have not been redeemable in silver since the 1960s.

The Congress has specified that Federal Reserve Banks must hold collateral equal in value to the Federal Reserve notes that the Federal Reserve Bank puts in to circulation. This collateral is chiefly held in the form of U.S. Treasury, federal agency, and government-sponsored enterprise securities." Source: http://www.federalreserve.gov/faqs/currency_12770.htm

I don't think we have anything backing the dollars at this point TBH. Well...a piece of paper and some ink. Staples is the new federal reserve.

 

[Doer]

Since this is about Iraq currency, I almost bought some dinar after the govt was set up. They were to send a big box of currency, 50 pounds.

It looked like a good deal.....under Bush. But, I am so glad I didn't do it.

Even at .000006 / USD, it still lost. The inflation ate it up.

 

[schuylaar]

Do you think our currency is actually backed by gold? Or is that just the story?

now? no.

speaking of counterfeit..

so, i go into AMSCOT for their "free" money orders..impressive, nice clean gave me tootsie rolls.

i handed the guy $2100 in 100's right from the bank counted 2x in front of me and then my inspection again.

this guy is counting, holding up to light, scratching and putting "possibilities" off to the side..which really irritated me. i didn't say anything at first because this was free and would save me $4.95. i didn't feel like spending the money at citibank or publix.

then he hands me a welcome packet of services and a form to fill out with sensitive info.

i told him i just wanted a money order and he explained this was a financial institution. awesome! financial institution or not they don't need that info..if i were trying to launder it wouldn't be with them.

he insisted, i walked out and down to publix two doors down.

amscot is nosy..other check cashing store who are "financial institutions" don't need ID for a money order.

amscot gets 3 fingers..the only reason i didn't give them 4 was because of the tootsie rolls.




EDIT: re-posted with permission from author in TNT

 

[Doer]

I read once that since this is a, financed to the hilt, world economy, there is not enough ANYTHING to back the Total Debt.

We have a mortgaged world, with no collateral coverage at about 90% debt ratio. If the pile starts to cave, all that fancy Office space in Dubai, etc, is worth nothing. It happened somewhat, 3 years ago.

In other words, all the cash, gold and silver in this world is only 10% of the vapor loans against it, at any one, time.

FANNY MAE can't even loan on Real Property, like that,

We are propped up by China and China is propped by us.

We can mutually default each other and know that is World War.

This is the direct result of the Loan Truance Debacle Credit Fraud, or commonly (and unfairly) called the Barney Frank Mess.

And this is when BitCoin came to someone's mind.