[youtube id=”NoBFhdeR9PE” width=”580″ height=”337″]

ETA: According to some dude on reddit, “It looks like they sniffed him out by looking back at old Internet records (forum posts, IPs etc) around the times of SRs appearance. The first person to ever advertise SR was DPR himself, and he used an email account attached to his natural born identity. No NSA or technical hack.”

The post The Silk Road is closed appeared first on Buttcoin Foundation.

Let’s get this party started by calling people Hitler:

https://twitter.com/c01212uqti0n/status/335056183079604224

The government/PayPal/banks are afraid of Bitcoin!

Not everybody on Twitter is pessimistic though:

Yeah, I’m pretty sure this argument won’t work at all:

There’s more to social media than Twitter, which is why we’ve found these for you:

Bitcointalk:

Reddit:

Facebook:

Nobody’s career should depend on Bitcoins

For a fantastic laugh, look up “Freemen on the land” or “Sovereign Citizens“

The post The internet reacts to Mt. Gox’s woes appeared first on Buttcoin Foundation.

There’s really little chance of it ever coming back above that price point. Here’s the all-time chart, this is by far the largest selloff in Bitcoin’s history happening right now.

And just for fun, here’s another graph:

Remember when I called the peak at the beginning of June? I got so much shit for that.

The post Bitcoin crashes below the $5 mark, loses 35% of it’s value, MASSIVE selloff today. appeared first on Buttcoin Foundation.

This is the best birthday present ever.

Here’s an appropriate song to go with it.

The post Bitcoin August Crash Graph: How low can you go? appeared first on Buttcoin Foundation.

�

1. Dwolla started spitting out money like a broken ATM. Dwolla, one of the largest USD -> Bitcoin payment processors used by Mt. Gox and Tradehill, had done chargebacks�on behalf of their users against the markets. This was not supposed to be possible as bitcoin transactions cannot be reversed and therefore the users got the bitcoins AND the cash. Tradehill states they lost about 37k, but Mt. Gox denies any chargebacks, which is highly unlikely considering they are 10x bigger than tradehill. If Mt. Gox did suffer chargebacks, then would be around $1mil in the hole, making them insolvent at this point.
2. MyBitcoin, the largest online “bank” for bitcoins, simply vanished from the net. They have been around for quite a while but have always seemed a little shady. Like, having a private whois on the domain and using parts of their website through the Tor network. Despite all this, a very�large amount of people had their wallets in MyBitcoins, including Bruce Wagner, the owner of OnlyOneTV, producer of “The Bitcoin Show” and hosting the Bitcoin Conference who personally lost 25k bitcoins ($250k USD). Ironically, the 3�restaurants�accepting bitcoins as payments also stored their wallets in MyBitcoin. The FBI was notified (lol), but the owner is believed to be living in Barbados currently but there’s no chance in hell anyone will or care to find him.
3. Bitomat.pl, the largest Polish bitcoin exchange and 3rd largest exchange in�existence, is run by an�incompetent�CIS major. He hosts the entire exchange on an Amazon EC2 server made for quick CPU calculation projects and decides against the $10/ for persistant storage. In the process of upgrading the RAM on the service, he apparently does not understand that it will restart the instance, wiping the storage portion clean and losing everyone’s wallets in an instance. Of course this exchange had no backups (which that $10/mo would have handled with multi-distributed�backups). The exchange ended up losing over 17,000 BTC and is currently up for sale to pay back the people who lost their coins. As to who is going to pay $200,000 to buy an exchange with no customers, no traffic and no income is beyond me.

The post The bitcoin week in review: Panic! At the Bitcoin! appeared first on Buttcoin Foundation.