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[MetalSlimeHunt]

Not as obviously as Dogecoin is an FBI honeypot.

[forsaken1111]

The whole internet is an FBI honeypot

[misko27]

I'm just going to have to throw my phone out now.

From a watchlist standpoint, this whole forum needs to be heavily monitored already (we pose a much more significant risk then WoW players, for example). We probably represent a very large bump in that site's activity too.

[Sheb]

Yeah, should probably have put up a warning.

The way they check who did the murder is that you embed a .txt with the date of the killing in the hash of a donation to the pool, then claim your reward afterward.

[Reelya]

Sheb, I think you're reading way too much into this. A "Dead Pool" is a type of gambling game where you predict when a certain person will die. There's nothing in that site that says "you must kill that person". So there is NO "way they check who did the murder": those are your words, not the site's. And if you read the conditions it clearly says just predict the death, regardless of how or why.

"Assasination Market" is just the name of the site. Of course, in theory, someone could nominate a public figure, get others to bet on their death, then predict the actual time of their death, then do a "hit", but that would be just the same as any other "race-fixing" scam in sports, yet much more dangerous, whilst being much less profitable than race-fixing. That's because with race-fixing, there's a bookie who sets odds, and you can bet as much as you like with him, and he has to return your winnings to you if you win.

With "Assasination Market", if nobody else bets on your public figure, you only get back the pools money you put in: there are no "odds" and no bookie to payout your "bet".

[Caz]

o_o This thread is interesting.

[GreatJustice]

I'm curious just how they'd verify a claim in the event of a successful assassination.

I mean think of it. You'd have hundreds of people claiming to have done it so you would need to do it in such a way that you have some evidence that you did it without leaving evidence for the authorities to know you did it...

IIRC you put a certain amount into the pool and that's that. If you want to get the money in the pool, you pick a date predicting Ben Bernanke's death and possibly you have to put some of your own money in for it to count. Now keep in mind, you get the money regardless of whether Ben is shot by an assassin (probably the intended use of an assassination market, as the assassin puts his money in knowing when he's going to strike) or has a heart attack on that day by complete coincidence.

The idea has been around for a while, and I think there was a video explaining the idea quite a while before the website popped up.

[Moghjubar]

Oh hey, there are two bitcoin threads.

Anyway... since this one was more recent, here: http://www.reddit.com/r/dogemarket/comments/1u4tk7/sg_3_bdrm_2_bathroom_home_on_65_acres_in/

A house for sale: 500M doge.
Wat.

[kaijyuu]

We'd best accept it: Doge is a real currency.

[werty892]

Doge is the most legit currency ever.

[Leafsnail]

It does kindof expose the flaw in the logic that claims Bitcoin has true scarcity.  Sure, there can only be a certain amount of Bitcoin, but you can always make another form of cryptocurrency to compete with it.  It would be like if it were possible to invent Gold II, a version of gold that is objectively better.

[LordSlowpoke]

It does kindof expose the flaw in the logic that claims Bitcoin has true scarcity.  Sure, there can only be a certain amount of Bitcoin, but you can always make another form of cryptocurrency to compete with it.  It would be like if it were possible to invent Gold II, a version of gold that is objectively better.

gold that is gold but has the color spectrum of bismuth?

[forsaken1111]

It does kindof expose the flaw in the logic that claims Bitcoin has true scarcity.  Sure, there can only be a certain amount of Bitcoin, but you can always make another form of cryptocurrency to compete with it.  It would be like if it were possible to invent Gold II, a version of gold that is objectively better.

I dunno.. we can create diamonds in a lab but that hasn't suddenly rendered diamond trading invalid.

[Bauglir]

Diamonds are probably a better example, actually. While industry interference probably can't be discounted entirely, a lot of a diamond's value comes from its status as a symbol of value. Cheap diamonds are, in what sounds like a tautology, less valuable because they are less valuable. A lot of cryptocurrency value comes from people expecting it to become valuable - I'd expect a number of cryptocurrencies gain value over the next couple of years based solely on hype about it being "the next Bitcoin". People trying to get in early so they can cash out later become the influx of latecomers everybody who did get in early cashes out to.

As for Bitcoin itself, I don't know. It could stabilize as speculators try to game other coins, or it could crash and burn as everyone keeps saying it will, or it could just keep on being its own wacky self. Its status as a mandatory entry to the other cryptocurrency markets probably ensures that it'll stay around as long as they do, unless another gets valuable enough and stable enough for long enough to get direct conversion to traditional currency.

[Leafsnail]

I dunno.. we can create diamonds in a lab but that hasn't suddenly rendered diamond trading invalid.

That's mainly due to the mined diamond industry using its power to create regulations that prevent synthetic diamonds from seriously competing in the gemstones market.  Bitcoin users can't do the same.