Nubblies.net currently owns the Magnificent Bitcoin Gem - Nubblies.net Forums

DJ FC · 01-26-2013, 09:23 AM

This is the magnificent bitcoin gem

ninjaface · 01-26-2013, 10:01 AM

Taint analysis pls.

Ugly Bastard · 01-26-2013, 10:11 AM

That is brilliant. But what might the economic implications of this be? Bitcoin inflation?

ninjaface · 01-26-2013, 11:09 AM

I'll trade you pos reps for bitcoins.

THEINCREDIBLEdork · 01-26-2013, 11:10 AM

I doubt it will have much affect on the market at all.

It will become so expensive that no one can buy it either because more than half of volume of BTC will be in the gem, or 100% more likely it will reach market value of the novelty of a JPEG of a gem which I imagine isn't going to be very much.

The last person holding the gem ends up screwed. The owner of the site's (the broker) money made from this venture will equal the sum of the profits he has payed out from the all previous rounds since it looks like he splits the difference 50/50. Plus he can "retire" anytime and keep the BTC from the last purchase price and email the JPEG of the gem to the current owner and tell him to find a different broker.

DJ FC · 01-27-2013, 02:26 AM

Damn. It's 10 bitcoin now. Don't really feel like losing $170 in a game of internet hot potato.

DJ FC · 01-27-2013, 02:29 AM

Quote:

Originally Posted by Ugly Bastard

That is brilliant. But what might the economic implications of this be? Bitcoin inflation?

None. It's just a ponzi scheme. Eventually somebody will have lost a decent chunk of money and everybody else will have made a little. The sites owner makes half of what the biggest loser loses.

Mr. Blonde · 01-27-2013, 03:13 AM

Quote:

Originally Posted by DJ FC

Damn. It's 10 bitcoin now. Don't really feel like losing $170 in a game of internet hot potato.

You know somebody else is going to buy it. Do it.

Orgazmo · 01-27-2013, 01:40 PM

25.09 now. She's rolling right along.

Dent · 01-27-2013, 02:55 PM

Is there anything new to this legally?

DJ FC · 01-27-2013, 04:46 PM

Quote:

Originally Posted by Orgazmo

25.09 now. She's rolling right along.

Incredible.

30.36 as I write this which is $539!

f3lix · 01-27-2013, 05:27 PM

Line on how far this goes before it doesn't get a buyer for 24 straight hours?

THEINCREDIBLEdork · 01-27-2013, 10:50 PM

Is it possible for the site's proprietor to fraudulently send money back and forth to himself to gather hype without it being traced?

DJ FC · 01-28-2013, 03:25 AM

I guess it could be possible.

Dent · 02-19-2013, 07:00 PM

SS'd this on the 30th of Jan

another rule has been added since

"However, the gem resets randomly, the odds of a reset are 3.125%, your winning odds are 96.875%. Should your purchase trigger a reset, then you will lose your stake and the gems price goes back to 0.1 bitcoins. Please read FAQ for details."

f3lix · 02-19-2013, 07:56 PM

lol... wow.

01-26-2013, 09:23 AM	#1 (permalink)
DJ FC MURICAN Join Date: Jul 2004 Location: Virginia Posts: 5,136 Internets: 250185	Nubblies.net currently owns the Magnificent Bitcoin Gem This is the magnificent bitcoin gem
	The basis of our governments being the opinion of the people, the very first object should be to keep that right; and were it left to me to decide whether we should have a government without newspapers, or newspapers without a government, I should not hesitate a moment to prefer the latter. But I should mean that every man should receive those papers and be capable of reading them.

01-26-2013, 11:10 AM	#5 (permalink)
THEINCREDIBLEdork Emperor Meow Join Date: Sep 2004 Posts: 9,316 Internets: 284585	I doubt it will have much affect on the market at all. It will become so expensive that no one can buy it either because more than half of volume of BTC will be in the gem, or 100% more likely it will reach market value of the novelty of a JPEG of a gem which I imagine isn't going to be very much. The last person holding the gem ends up screwed. The owner of the site's (the broker) money made from this venture will equal the sum of the profits he has payed out from the all previous rounds since it looks like he splits the difference 50/50. Plus he can "retire" anytime and keep the BTC from the last purchase price and email the JPEG of the gem to the current owner and tell him to find a different broker.
	#YOLO

01-27-2013, 02:26 AM	#6 (permalink)
DJ FC MURICAN Join Date: Jul 2004 Location: Virginia Posts: 5,136 Internets: 250185	Damn. It's 10 bitcoin now. Don't really feel like losing $170 in a game of internet hot potato.
	The basis of our governments being the opinion of the people, the very first object should be to keep that right; and were it left to me to decide whether we should have a government without newspapers, or newspapers without a government, I should not hesitate a moment to prefer the latter. But I should mean that every man should receive those papers and be capable of reading them.

01-27-2013, 10:50 PM	#13 (permalink)
THEINCREDIBLEdork Emperor Meow Join Date: Sep 2004 Posts: 9,316 Internets: 284585	Is it possible for the site's proprietor to fraudulently send money back and forth to himself to gather hype without it being traced?
	#YOLO

01-28-2013, 03:25 AM	#14 (permalink)
DJ FC MURICAN Join Date: Jul 2004 Location: Virginia Posts: 5,136 Internets: 250185	I guess it could be possible.
	The basis of our governments being the opinion of the people, the very first object should be to keep that right; and were it left to me to decide whether we should have a government without newspapers, or newspapers without a government, I should not hesitate a moment to prefer the latter. But I should mean that every man should receive those papers and be capable of reading them.

01-26-2013, 10:01 AM	#2 (permalink)
ninjaface Level 20 Holothetan Join Date: Dec 2002 Location: Space Posts: 5,245 Internets: 210144	Taint analysis pls.

01-26-2013, 10:11 AM	#3 (permalink)
Ugly Bastard Senior Member Join Date: Feb 2002 Location: U.S.A. Posts: 13,643 Internets: 247330	That is brilliant. But what might the economic implications of this be? Bitcoin inflation?

01-26-2013, 11:09 AM	#4 (permalink)
ninjaface Level 20 Holothetan Join Date: Dec 2002 Location: Space Posts: 5,245 Internets: 210144	I'll trade you pos reps for bitcoins.

01-27-2013, 01:40 PM	#9 (permalink)
Orgazmo COME ON YOU YANKS Join Date: Feb 2002 Location: Indiana Posts: 15,668 Internets: 305662	25.09 now. She's rolling right along.

01-27-2013, 02:55 PM	#10 (permalink)
Dent Lost in Hilbert Spice Join Date: Jun 2004 Location: Surrounded by knaves and fools Posts: 3,460 Internets: 174266	Is there anything new to this legally?

01-27-2013, 05:27 PM	#12 (permalink)
f3lix Gangnam Style Join Date: Oct 2003 Location: DH's Massage Parlor Posts: 6,383 Internets: 213510	Line on how far this goes before it doesn't get a buyer for 24 straight hours?

02-19-2013, 07:00 PM	#15 (permalink)
Dent Lost in Hilbert Spice Join Date: Jun 2004 Location: Surrounded by knaves and fools Posts: 3,460 Internets: 174266	SS'd this on the 30th of Jan another rule has been added since "However, the gem resets randomly, the odds of a reset are 3.125%, your winning odds are 96.875%. Should your purchase trigger a reset, then you will lose your stake and the gems price goes back to 0.1 bitcoins. Please read FAQ for details."

02-19-2013, 07:56 PM	#16 (permalink)
f3lix Gangnam Style Join Date: Oct 2003 Location: DH's Massage Parlor Posts: 6,383 Internets: 213510	lol... wow.

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