01-26-2013, 09:23 AM | #1 (permalink) |
MURICAN
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Nubblies.net currently owns the Magnificent Bitcoin Gem
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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. |
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01-26-2013, 11:10 AM | #5 (permalink) |
Emperor Meow
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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
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01-27-2013, 02:26 AM | #6 (permalink) |
MURICAN
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Damn. It's 10 bitcoin now. Don't really feel like losing $170 in a game of internet hot potato.
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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. |
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01-27-2013, 02:29 AM | #7 (permalink) |
MURICAN
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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.
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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. |
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01-27-2013, 03:13 AM | #8 (permalink) |
Spice Master
Join Date: Jan 2004
Posts: 17,969
Internets: 278288
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Psychedelics are illegal not because a loving government is concerned that you may jump out of a third story window. Psychedelics are illegal because they dissolve opinion structures and culturally laid down models of behavior and information processing.
― Terence McKenna |
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01-27-2013, 04:46 PM | #11 (permalink) |
MURICAN
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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. |
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01-28-2013, 03:25 AM | #14 (permalink) |
MURICAN
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I guess it could be possible.
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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. |
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02-19-2013, 07:00 PM | #15 (permalink) |
Lost in Hilbert Spice
Join Date: Jun 2004
Location: Surrounded by knaves and fools
Posts: 3,460
Internets: 174266
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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." |
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