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SilvergunSuperman posted:I forget, what's your investment again? Imagine fixating on a point in time and never being able to move past it. Like picking the moment the trading volume drops and deciding "oh wow thats great. Material for years!" or just recycling the "Magic Cards Magic Cards Magic Cards" poo poo on a forum for 6 years while being wrong the whole time It turns out we don't have to imagine there's bitcoin threads
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Oct 24, 2017 19:29
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I just realized that most bitcoin advocates are libertarians. Certainly explains the brokebrains in this thread
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Oct 24, 2017 19:33
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Ham Sandwiches posted:Imagine fixating on a point in time and never being able to move past it. Like picking the moment the trading volume drops and deciding "oh wow thats great. Material for years!" or just recycling the "Magic Cards Magic Cards Magic Cards" poo poo on a forum for 6 years while being wrong the whole time Dude your only argument is basically: I invested in a very risky financial instrument and it paid off, therefore I am a genius and everyone that said it was an insanely risky thing to invest in is wrong. That's not how math works :\. Why bother using such a moronic instrument when you can just buy some options or futures or whatever. Could have just put everything on black, same thing, higher win rate probably, easy to cash out as well.
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Oct 24, 2017 19:34
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amotea posted:Dude your only argument is basically: I invested in a very risky financial instrument and it paid off, therefore I am a genius and everyone that said it was an insanely risky thing to invest in is wrong. That's not how math works :\. My man, I am going to buy one (1) bitcoin.
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Oct 24, 2017 19:36
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amotea posted:Dude your only argument is basically: I invested in a very risky financial instrument and it paid off, therefore I am a genius and everyone that said it was an insanely risky thing to invest in is wrong. That's not how math works :\. Really is it easy to take $20 and turn it into $6000 on options / roulette? 30x returns when investors chase 10% a year like it's a unicorn? It was an exceedingly risky and speculative cryptocurrency that was created and it was brand new. For whatever reason people felt the need to predict that it was a scam and endlessly post to avoid it entirely, that it would never be useful for anything other than drugs and child porn and that you can't get your money out. Even now you're repeating the stuff about "easy to cash out" as if it's in any way difficult to cash out Coins. Laughing at the mtgox exchange as representative of the legitimacy of it, pretending you'd lose all your money to exchanges or never be able to use it for anything real, these were all predictions that people made, and they were utterly false. I am just pointing out that those people's claims were horseshit.
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Oct 24, 2017 19:39
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Ham Sandwiches posted:Really is it easy to take $20 and turn it into $6000 on options / roulette? 30x returns when investors chase 10% a year like it's a unicorn? 1. The algorithm is factually broken and can't support wide adoption. It already takes hours for a transaction with a minuscule userbase. No one is going to wait weeks (estimated) for a transaction to go through to buy gum if everyone starts using bitcoin. Also, when all coins are mined transaction fees will shoot through the roof as miners will no longer do them for free/cheap while mining coins. Neither party crying "BUT I'M RIGHT!" is going to fix technically broken code that can never work for what the bitcoin shills imagine. 2. It is an absolutely horrible instrument to use for the general/non-technical population given how easily all of your money and savings can be hacked or lost with no recourse and no ability to recover it. Telling grandma "well gently caress you should have backed up your hard-drive now go sleep on the street!" is not a workable economic approach in a civilized society. 3. Cryptocurrency in general as an alternative currently is here to stay, for sure. Some countries will start creating/adopting their own versions that are sustainable and that will have nothing to do with bitcoin. There is 0 benefit for a nation/state to pay laughable fees to use bitcoin when they can easily create their own cryptocurrency. Rad Russian fucked around with this message at 19:53 on Oct 24, 2017 |
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Oct 24, 2017 19:43
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Alright I just bought 2 bitcoins and in 10 years I'll be a millionaire.
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Oct 24, 2017 19:51
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Minimalist Program posted:Alright I just bought 2 bitcoins and in 10 years I'll be a millionaire. what color are they?
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Oct 24, 2017 19:54
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Rad Russian posted:1. The algorithm is factually broken and can't support wide adoption. It already takes hours for a transaction with a minuscule userbase.
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Oct 24, 2017 19:55
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Ham Sandwiches posted:Imagine fixating on a point in time and never being able to move past it. Like picking the moment the trading volume drops and deciding "oh wow thats great. Material for years!" or just recycling the "Magic Cards Magic Cards Magic Cards" poo poo on a forum for 6 years while being wrong the whole time You mean like what you do every bitcoin thread? 
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Oct 24, 2017 19:56
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poverty goat posted:there are many exchanges now that will let you easily cash out at least a few hundred to a few grand per week straight to your bank account just like cashing out your paypal account but if you really need to trade for cash because your bitcoins are drug money or because you don't want to pay taxes or you ahve millions of dollars worth youll have to find a guy on localbitcoins who probably won't murder or rob you but you can't totally rule it out
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Oct 24, 2017 19:58
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poverty goat posted:It doesn't help your cause when you post things that are not true and have not ever been true in a general sense, which you could verify as not being true with 10 seconds of research. nobody is waiting over an hour for btc to transfer and generally it's closer to 20 mins Bullshit. Do a transaction right now without attaching significant fees to it. How long is it going to take? It's a stupid marketing shill thing you're doing same as "no transaction fees!" they like to throw around. So yes if you attach a significant tip with your transaction it will come through in 20mins when there are hardly thousands of transactions in play. Totally beats a second that I get for free with my credit card which are used by hundreds of millions of users. Honestly don't care either way since I don't plan on using bitcoin. Just point out how stupid of a system and algorithm it is. Other crypto-currencies that will replace it will be amazing though, no doubt. They are cool and will be used widely in the future. There were already many ideas released and in use today to replace the broken mess of a code that runs Bitcoin with a better currency. You believing or shilling harder is not going to fix the irreparably broken code. Me arguing with you is not going to do it either, and hence the point of my whole previous post. But thanks for playing. Rad Russian fucked around with this message at 20:04 on Oct 24, 2017 |
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Oct 24, 2017 19:58
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Burt Sexual posted:what color are they? They are digitial things that are currently worth 12.000 dollars but, soon, will be worth 2 million dollars.
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Oct 24, 2017 20:03
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Rad Russian posted:Bullshit. Do a transaction right now without attaching significant fees to it. How long is it going to take? It's a stupid marketing shill thing you're doing same as "no transaction fees!". What the hell are you even talking about? Go make a coinbase account and a mycelium account. Buy some btc and send it to yourself. It'll take under an hour, every time. I've actually used btc (to buy drugs) so I already know this
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Oct 24, 2017 20:03
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Yeah 20 minutes is kind of long, you have no idea the technical bullshit credit card processors go through to have transaction times of a couple of seconds max. There was a great post about this once, there's a poo poo ton of validation going on behind every transaction, it's really complicated stuff apparently and yet it works in seconds.
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Oct 24, 2017 20:04
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poverty goat posted:What the hell are you even talking about? Go make a coinbase account and a mycelium account. Buy some btc and send it to yourself. It'll take under an hour, every time. Are you seriously this dense? Obviously sending money inside Coinbase is free. It's just 0 and 1s in their own database. Every single bitcoin transaction requires a fee. Even Coinbase has a helpful guide for you for why it costs so much money to pay vendors for a product: https://support.coinbase.com/customer/portal/articles/815435-does-coinbase-pay-bitcoin-miner-fees- Because you know what happens if you don't attach a fee? Your transaction becomes worthless to the network. Maybe it will get picked up in 4-8 hours, maybe it won't. I'm guessing you don't really understand bitcoin well and hence are shilling it. That's typical. I'm not saying Bitcoin isn't cool. Cryptocurrencies are cool. The fact is, Bitcoin can't have wide adoption because it's broken. I'm just arguing that point with people selling it as something that can be widely used in the future (it can't). If you buy drugs with it be my guest. That's awesome and all, and that's what it was probably designed for in the first place. Rad Russian fucked around with this message at 20:13 on Oct 24, 2017 |
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Oct 24, 2017 20:08
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Waltzing Along posted:People were freaking out when it hit $2000 about six months ago. But it has tripled since then? This is crazy. To answer your question, someone with bitfinex and coinbase (or closely associated with) has several million dollars worth of both bitcoin and "dollars" (on bitfinex and coinbase) and can freely sell and buy from himself to manipulate the price. Someone looked into it and this is the main reason.
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Oct 24, 2017 20:11
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Rad Russian posted:Are you seriously this dense? Obviously sending money inside Coinbase is free. It's just 0 and 1s in their own database. This is why I said to send it outside of coinbase to another wallet you retard No Bitcoin transaction takes days or weeks to process, this has nothing to do with fees and I think maybe you're confusing the time required for a buy or sell order to go through on an exchange at a certain price with the time it takes for a Bitcoin transaction to go through because otherwise the words you're posting just don't make any sense in the order you've chosen to arrange them
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Oct 24, 2017 20:16
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poverty goat posted:there are many exchanges now that will let you easily cash out at least a few hundred to a few grand per week
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Oct 24, 2017 20:20
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Hey look another dumb fuckin' thread about shitcoins being so amazing and omg don't you wish you had bought in years ago you'd own an island now and the haters are just jealous that they didn't get in on the ground floor to be bitmillionaires now. Threads like these cause autism, just look at Ham Sandwiches.
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Oct 24, 2017 20:21
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Satchel and Trunk posted:Hey look another dumb fuckin' thread about shitcoins being so amazing and omg don't you wish you had bought in years ago you'd own an island now and the haters are just jealous that they didn't get in on the ground floor to be bitmillionaires now. I wish i'd bought in years ago so, to make up for it, I just spent 12.000 dollars on bitcoins so that I'll be a millionaire in 10 years.
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Oct 24, 2017 20:22
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So are we making fun of bitcoin or are there people who sincerely think their libertarian octal 1s and 0s are better than straight up currency, cuz one is funny and the other is sad
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Oct 24, 2017 20:23
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No, Ham. People explained to you, calmly and often, why Buttcoin is a stupid thing for idiots. Your response to these explanations was, primarily, a bunch of nonsense that failed to respond to a vast majority of it. You have taken a retarded stance and cannot be moved from it by things so simple as facts or common sense (BUT NUMBER GO UP) and so all people do is make fun of you for being a dumb person screeching about the bits coins, now.
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Oct 24, 2017 20:27
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Minimalist Program posted:I wish i'd bought in years ago so, to make up for it, I just spent 12.000 dollars on bitcoins so that I'll be a millionaire in 10 years. If you bought in years ago, there's a 99.9% chance that you would not be holding still. Either those coins would have been lost, stolen, or cashed out as soon as the market ticked up (or down cause oh poo poo, it's happening!). To best piss off Ham, tell him that bitcoin needs to be able to process at least 8 transactions per second to be viable. Repeatedly. Every time he posts. This is hard to do because he will reply (terribly) to literally EVERYONE talking poo poo about his beloved coins.
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Oct 24, 2017 20:32
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Satchel and Trunk posted:If you bought in years ago, there's a 99.9% chance that you would not be holding still. uh actually yeah I would; the trick is to hold until you're absolutely sure the price won't go higher and then sell, to maximize your profits. So I would've held my bitcoins and sold them today or, maybe even next month when the price is even higher?
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Oct 24, 2017 20:34
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Minimalist Program posted:uh actually yeah I would; the trick is to hold until you're absolutely sure the price won't go higher and then sell, to maximize your profits. So I would've held my bitcoins and sold them today or, maybe even next month when the price is even higher? Nice thinking. I've just sent an order for some bitcoins as well.
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Oct 24, 2017 20:39
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No, you don't understand! I would've made all the good decisions! If you were the type of person who could go back in time and get money from Bitcoin, you should've just gone back a little further and invested in Microsoft or Apple. You aren't that type of person, though, because you can't see the loving future.
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Oct 24, 2017 20:39
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Minimalist Program posted:uh actually yeah I would; the trick is to hold until you're absolutely sure the price won't go higher and then sell, to maximize your profits. So I would've held my bitcoins and sold them today or, maybe even next month when the price is even higher? What can I say? You do that, ride that blazing unicorn right off into the golden sunset, you dazzling diamond and guru of personal finance!
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Oct 24, 2017 20:40
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gently caress the ROW posted:Nice thinking. I've just sent an order for some bitcoins as well. Satchel and Trunk posted:What can I say? You do that, ride that blazing unicorn right off into the golden sunset, you dazzling diamond and guru of personal finance! It's the smart way to do business and trade stocks. You buy low and then, when what you bought is worth more, you sell it.
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Oct 24, 2017 20:42
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There seems to be a pattern of Bitcoin proponents not actually understanding the technology underpinning their entire "investment", which is hilarious to me.
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Oct 24, 2017 20:46
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Drone_Fragger posted:To answer your question, someone with bitfinex and coinbase (or closely associated with) has several million dollars worth of both bitcoin and "dollars" (on bitfinex and coinbase) and can freely sell and buy from himself to manipulate the price. Someone looked into it and this is the main reason. Source?
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Oct 24, 2017 21:00
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(Heres an article supporting my previous claim, if you're interested. It's a lot of wash trading against his own funds to prop the price up or down depending on what the trader(s) is trying to do.) https://hackernoon.com/meet-spoofy-how-a-single-entity-dominates-the-price-of-bitcoin-39c711d28eb4
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Oct 24, 2017 21:03
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Waltzing Along posted:Source? https://medium.com/@bitfinexed/wash-trading-bitcoin-how-bitfinex-benefits-from-fraudulent-trading-8bd66be73215 The link in the previous post even has videos of it happening.
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Oct 24, 2017 21:04
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Bitcoin will go up, probably over $10k at one point. But at some point everyone's going to get nervous about a crash and then someone will dump a bunch of coins and everything will spiral down to zero. Will you be able to catch the falling knife? The only way to win is to not play. Don't touch the poop.
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Oct 24, 2017 21:12
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Nocheez posted:Bitcoin will go up, probably over $10k at one point. But at some point everyone's going to get nervous about a crash and then someone will dump a bunch of coins and everything will spiral down to zero. Will you be able to catch the falling knife? Uh actually if you buy today ( at 6000 dollars) and it rises to 10000, then what you do is just sell at 10.000 and wham, you're rich.
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Oct 24, 2017 21:17
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Minimalist Program posted:Uh actually if you buy today ( at 6000 dollars) and it rises to 10000, then what you do is just sell at 10.000 and wham, you're rich. You seem p good at this finance stuff, MP. Remember ur posting buddies when you make it big.
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Oct 24, 2017 21:21
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Minimalist Program posted:Uh actually if you buy today ( at 6000 dollars) and it rises to 10000, then what you do is just sell at 10.000 and wham, you're rich. I mean yeah, if you can find someone willing to buy 10,000 dollars worth of bitcoin, in real money. I'll give you a hint: it's basically impossible. "dollars" as shown on bitfinex or coinbase aren't worth the pixels they're displayed on, because trying to get that outta them as a withdrawl, hoo boy. That's assuming that withdrawls aren't disabled again due to money laundering, again.
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Oct 24, 2017 21:44
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An unwise investment doesn't become a wise one just because it happened to work out. That's just luck, and if you really are determined to invest your money in luck then casinos already exist.
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Oct 24, 2017 22:00
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"Idiots! You should have invested in the BonerPillsNigeria.com just like me!"
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Oct 24, 2017 22:19
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ElGroucho posted:"Idiots! You should have invested in the BonerPillsNigeria.com just like me!" I just bought 2000 dollars worth of bonerpillsnigeria.com and its going to make me a freaking millionaire, baby.
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Oct 24, 2017 22:34
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