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Ham Sandwiches posted:Your info is wrong because you are fixating on irrelevant details and are so very proud of them, when those details are not holding back cryptocurrency acceptance, they just don't fit into your existing financial models and understanding. That's a limitation on your end. Cryptocurrencies are useful to people, and are growing more useful Explain how Bitcoin makes money, because the fact that it does not is why it is a scam You cannot, as it doesn't, and you have still failed to answer this in any way whatsoever, and will continue to not answer it
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Nov 16, 2017 02:37
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Blade Runner posted:Explain how Bitcoin makes money, because the fact that it does not is why it is a scam People are using cryptocurrencies because they are useful for transactions, that's the loving end of it. What is this poo poo about how bitcoin makes money? People use cryptocurrencies to do transactions! And more and more people are using them for that purpose, which is increasing their price. I hope you can manage to read these few sentences and understand the words contained in them.
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Nov 16, 2017 02:38
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Ham Sandwiches posted:Stop making poo poo up dude, if you're too dumb to understand my responses that doesn't mean its not a response, it means you can't read and/or parse other people's posts and respond aggressively instead I'm not making things up, you're literally refusing to answer questions Answering a question that I did not ask and acting like I did is not answering an actual question: How do Bitcoins make money, and how can they ever have more money in the system available for withdrawal than has been put into them
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Nov 16, 2017 02:38
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Blade Runner posted:I'm not making things up, you're literally refusing to answer questions Who the gently caress said Bitcoins "make money"? Where did you come up with this poo poo? I don't even understand what you mean. When did that enter the discussion?
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Nov 16, 2017 02:39
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Ham Sandwiches posted:People are using cryptocurrencies because they are useful for transactions, that's the loving end of it. What is this poo poo about how bitcoin makes money? People use cryptocurrencies to do transactions! And more and more people are using them for that purpose, which is increasing their price. That is not an answer to the question It is not that I do not understand your words, it is that your words do nothing to answer the question being asked The answer to the question, you simpering retard, is "They do not make money, forums poster Blade Runner. You cannot possibly withdraw more more money than has been put into the system in USD." and this is why the system is a Ponzi scheme, because someone must be left with a negative position in order for someone else to come out of Bitcoin with money
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Nov 16, 2017 02:40
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wit posted:Money is supposed to be immutable and almost abstract, not an invention. Money was an invention. 
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Nov 16, 2017 02:41
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Blade Runner posted:The answer to the question, you simpering retard, is "They do not make money, forums poster Blade Runner. You cannot possibly withdraw more more money than has been put into the system in USD." and this is why the system is a Ponzi scheme, because someone must be left with a negative position in order for someone else to come out of Bitcoin with money Haha so you come up with a standard that says "Cryptocurrencies make money" which is a claim literally nobody is making Then you say "Ergo they are a ponzi scheme" And I'm here to tell you, you are loving stupid. Cryptocurrencies are a currency being used for transactions, they are useful for this, and keep being used for transactions because they are useful. Go look on the internet and see! And the more people adopt them the more useful they will be. That's pretty much it.
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Nov 16, 2017 02:42
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Ham Sandwiches posted:Haha so you come up with a standard that says You literally don't even have a basic understanding of economics
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Nov 16, 2017 02:43
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Blade Runner posted:You literally don't even have a basic understanding of economics Your existing understanding of economics keeps you utterly unable to understand cryptocurrencies and even picture their growing use or adoption, which is fascinating because that's literally what's happening, and will at some point have quite the crisis when faced with a reality that keeps diverging from these moronic, short sighted predictions. I look forward to it
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Nov 16, 2017 02:45
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what if someone bought an old oil rig in international waters and hosted a shadymoney.biz paypal-like website to do all your illegal transactions for you as a middleman, would bitcoin be rendered useless?
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Nov 16, 2017 02:46
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Ham Sandwiches posted:Your existing understanding of economics keeps you utterly unable to understand cryptocurrencies and even picture their growing use or adoption, which is fascinating because that's literally what's happening, and will at some point have quite the crisis when faced with a reality that keeps diverging from these moronic, short sighted predictions. "Why should investments I make haveta make money?! The numbers can just go up!" - forums poster Ham Sandwiches
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Nov 16, 2017 02:47
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Blade Runner posted:"Why should investments I make haveta make money?! The numbers can just go up!" - forums poster Ham Sandwiches "Just because this wall street dude doesn't have a model taught to him by someone else that correctly values or understands cryptocurrencies doesn't make them a ponzi, it just makes this dudes understanding super limited despite him thinking otherwise" It's cool there's plenty of people in that boat, it's gonna be great when the tipping point gets reached and people explain why the old models weren't quite adequate and then hooo boy, I guess it will that you were not wrong, just that it was too speculative and looked like a ponzi based on the stuff that came before, and of course it wasn't that other people saw cryptocurrencies correctly, they were just speculators looking to get rich Except none of the dumb things you'll tell yourself about why you weren't wrong will be true
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Nov 16, 2017 02:51
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Hey Hammy I think you missed this (or just decided to avoid it):Ham Sandwiches posted:You mean the point at which it's about to be accepted by more retailers[citation needed] and countries[citation needed] and reserve banks[citation needed] and hedge funds are getting into it[citation needed] and square is about to offer payments using it[citation needed], clearly the ship has sailed just like it had at $2500, and again at $5000 vortmax fucked around with this message at 03:31 on Nov 16, 2017 |
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Nov 16, 2017 03:22
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My Visa works pretty drat well
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Nov 16, 2017 05:30
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Rufio posted:My Visa works pretty drat well Convert all your money to icty and scratchy bux just to be safe.
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Nov 16, 2017 06:17
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Ham Sandwiches posted:I don't have to call the future other than to say the people claiming cryptocurrencies are a scam are super, mega dumb. Pretty soon there will be use cases so clear and obvious we won't quibble about them and this line of reasoning will seem ridiculous and short sighted; at which point I'll list them off and you'll declare that nobody could have known except speculators and ponzi enthusiasts This response doesn't contain a single reason to use bitcoin over any other payment processor. I wonder why... Like you don't have to speculate over future reasons, just tell us why millions of people find bitcoins useful for transactions. You did say that bitcoin is more useful (present tense) than the alternatives, right? QuarkJets fucked around with this message at 06:47 on Nov 16, 2017 |
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Nov 16, 2017 06:44
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Ham Sandwiches posted:Lol everyone that posted during the fork drama about how bitcoins were CRASHING Do you have something more to add other than "nuh uh" to the fact that the vast majority of bitcoin miners will reject any protocol change that invalidates an ASIC?
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Nov 16, 2017 06:53
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Ham Sandwiches posted:I don't have to call the future other than to say the people claiming cryptocurrencies are a scam are super, mega dumb. Pretty soon there will be use cases so clear and obvious we won't quibble about them and this line of reasoning will seem ridiculous and short sighted; at which point I'll list them off and you'll declare that nobody could have known except speculators and ponzi enthusiasts Not only are you a coward, but you are also a fool. Stop posting.
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Nov 16, 2017 08:47
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Ham Sandwiches describe the technical limitations of Bitcoin. The limitations that you said you totally know about but they don't matter because (?)
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Nov 16, 2017 09:07
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Ham Sandwiches posted:"Just because this wall street dude doesn't have a model taught to him by someone else that correctly values or understands cryptocurrencies doesn't make them a ponzi, it just makes this dudes understanding super limited despite him thinking otherwise" How is mining difficulty calculated? And what is the obvious flaw in the algorithm that is essentially a ticking timebomb? And how would you extricate Bitcoin from that algorithm?
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Nov 16, 2017 09:08
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Everyone I know in actually reality that is buying bitcoins is doing it with the express intention of making money, ‘not wanting to miss out’ as the price rises. I have never, ever had a discussion about anyone using it for any other reason (except drugs). All the bitcoin stories in pop media are about price, none of them about what you are meant to do with them besides make money. Ham Sandy, you must love in an echo chamber because this is the actual state of things. What that means for adoption or the price or Ponzi or whatever, that’s another level of discussion. But seriously dude you have got to accept this basic observation about reality.
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Nov 16, 2017 09:16
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Ham Sandwiches posted:I think it's incredible that the same crew of idiots that made fun of upcoming stuff for YEARS, haha those big phones, lmao, anroid lmao, with dumb unfunny jokes and endless circle jerks, has found their new cause to rally around  i wonder if ultimate vague accuser ham sandwiches has an opinion on what other people look like speaking on behalf of other people...Ham Sandwiches posted:
not to mention his complete lack of understanding of economics
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Nov 16, 2017 09:20
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Chadzok posted:Everyone I know in actually reality that is buying bitcoins is doing it with the express intention of making money, ‘not wanting to miss out’ as the price rises. I have never, ever had a discussion about anyone using it for any other reason (except drugs). All the bitcoin stories in pop media are about price, none of them about what you are meant to do with them besides make money. nah people are buying bitcoin because it's so useful for transactions! Tons of people are! I mean I'm just taking Ham Sandwiches at his word here, you're not calling him a liar, right? Lots of people are just buying bitcoins cause bitcoin just happens to be what they want to use for transactions, definitely not because they think they can make a quick buck by selling it later for fiat! That would be ridiculous!
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Nov 16, 2017 09:32
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Ham Sandwiches posted:People are using cryptocurrencies because they are useful for transactions, that's the loving end of it. What is this poo poo about how bitcoin makes money? People use cryptocurrencies to do transactions! And more and more people are using them for that purpose, which is increasing their price. Maybe someone would believe that, if not for the whole 8 transactions/second, and the transaction backlog forming every time the speculative traders get restless.
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Nov 16, 2017 09:49
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this thread's best collective troll is that it takes a bubble so vast that anyone who threw money at btc in July is up 400% and anyone who did it three weeks ago when this thread started is up 20% despite a 25% drop in between and makes it look unappealing to toss some disposable income into it when it very likely still has months left to run like, everyone's need to pick a pedantry fight with a single ham sandwich and that ham sandwich's need to nerd fight with every single reply probably singlehandedly stopped goons from making a few tens of thousands of dollars since this version of the thread alone well done
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Nov 16, 2017 10:48
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Adar posted:this thread's best collective troll is that it takes a bubble so vast that anyone who threw money at btc in July is up 400% and anyone who did it three weeks ago when this thread started is up 20% despite a 25% drop in between and makes it look unappealing to toss some disposable income into it when it very likely still has months left to run The point is you can't predict those increases any more than you can predict the massive drops. The market is too small and too susceptible to tampering. That's a bad market. You may as well "invest" in slot machines. How many tens of thousands have you made, by the way? Or maybe Ham Sandwiches should answer that, as the most ardent supporter of Bitcoin in this thread. How much have you made? In your actual bank account?
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Nov 16, 2017 11:21
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Adar posted:this thread's best collective troll is that it takes a bubble so vast that anyone who threw money at btc in July is up 400% and anyone who did it three weeks ago when this thread started is up 20% despite a 25% drop in between and makes it look unappealing to toss some disposable income into it when it very likely still has months left to run indeed, it is so foolish to criticize pets.com at the height of the dotcom bubble or beanie babies at the height of their popularity or literally any ponzi scheme before it collapses
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Nov 16, 2017 11:28
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The biggest bitcoin exchange is Bitfinex, which can't secure any banking partners because they're shady as gently caress. Their members are allowed to engage in rampant market manipulation tactics. There's a shitload of evidence that they are blatantly cooking their books in order to pump the price whenever it's falling. GEE NOTHING WRONG WITH THAT PICTURE
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Nov 16, 2017 11:37
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Ham Sandwiches posted:It's fascinating watching general reminder that I have so far made about £4000 more ActualMoney profit visibly in my bank account from bitcoin than Ham Sandwiches
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Nov 16, 2017 11:55
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QuarkJets posted:The biggest bitcoin exchange is Bitfinex, which can't secure any banking partners because they're shady as gently caress. Their members are allowed to engage in rampant market manipulation tactics. There's a shitload of evidence that they are blatantly cooking their books in order to pump the price whenever it's falling. Look man, I don’t know anything about regulations and government is bad and I think you’re missing the point The real point *rubs thumb and index+middle-finger together and waggles eyebrows* Brochacho we talkin FOUR HUNDRED PERCENT gains It can only go up Hell I spend all day at work defending bitcoin and watching graphs in a manic thrill ride and I have to hide this obsession of mine or else my family members and more normie friends get tired of me trying to proselytize but—my man—it’s worth it for those marginal high risk gains and the bragging rights that only a coen brothers penny stocks trader character who comically keeps stubbing his toes on chairs would flex You’d be an idiot not to enter wildly unregulated hypertulip futures
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Nov 16, 2017 12:03
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Adar posted:this thread's best collective troll is that it takes a bubble so vast that anyone who threw money at btc in July is up 400% and anyone who did it three weeks ago when this thread started is up 20% despite a 25% drop in between and makes it look unappealing to toss some disposable income into it when it very likely still has months left to run "lol why didnt you invest everything you had in apple right before it took off? what are you some kind of idiot?" *looks at market graph* "see i can find the exact point where you should have put your money in. easy" the thing is with bitcoin you stand to lose everything because there is nothing but confidence propping up the value and there is a moral aversion to participating in a chain of ripping people off and a moral aversion to helping people who sexually abuse children get paid for recording it by putting real money into the bitcoin economy so they can cash out
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Nov 16, 2017 12:08
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oh I'm already all in on cryptocurrency, I sold all of my possessions and took a second mortgage out on my house investing solely in dogecoin, the one true cryptocurrency of the future which is technically superior to all others bitcoin? More like shitcoin, dogecoin is where it's at
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Nov 16, 2017 12:09
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Me, gamble? Nooo I’m a crypto portfolio adviser entrepreneur
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Nov 16, 2017 12:11
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a cyberpunk goose posted:Me, gamble? Nooo i'm only a day crypto portfolio adviser entrepreneur
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Nov 16, 2017 12:14
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investing in dogecoin isn't like gambling at all what are you insane? fuckin read the whitepaper, here it is in its entirety: if you aren't investing heavily in doge then you're a complete moron who just doesn't get cryptos and is going to be left in the dust when doge explodes in price and wipes out all of the competitors (lol not real competitors though all other cryptos are poo poo) you think bits-coins gains this year were high lol dogecoin's gains in 2018 are going to make bits-coins investors look like idiot children who are also broke because everyone's going to push all of their money into dogecoin
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Nov 16, 2017 12:17
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Ham Sandwiches posted:Lmao this is a claim that will become obviously less true as the adoption increases and the usage of cryptocurrencies spread, the people that believe dumb poo poo like this based on secondhand / wrong info aren't gonna be convinced by a few paragraphs I write. That's certainly clear based on the past few months. No dude, every single person falling for a scam wouldn't mean it wasn't a scam.
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Nov 16, 2017 12:47
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"usage of cryptocurrencies" *buys bitcoin with money* "oh good now i can buy things" yes there is a great need for that
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Nov 16, 2017 13:22
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QuarkJets posted:investing in dogecoin isn't like gambling at all what are you insane? fuckin read the whitepaper, here it is in its entirety: i just had someone comment on the bjoooeeeerrrk bitcoin post on my blockchains are shite blog about how Litecoin was the BEST AND MOST USEFUL THING EVER and whyyyy doesn't anyone accept it and also (if you see said comment and who it was and their recent /r/buttcoin posting history, you will understand why all comments to my blog are moderated)
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Nov 16, 2017 16:02
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Blade Runner posted:Bitcoin is literally a Ponzi scheme because no money can possibly be generated by it in the same way as money can be generated by an actual stock, and no amount of your flailing retardation about "NUMBER GO UP" can change that
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Nov 16, 2017 16:24
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a hot gujju bhabhi posted:The point is you can't predict those increases any more than you can predict the massive drops. The market is too small and too susceptible to tampering. That's a bad market. You may as well "invest" in slot machines. How many tens of thousands have you made, by the way? with that said, there is always a chance that these "predictions" (which are really just informed guesses based on previous behavior) will be wrong, so you have to practice risk management. you have to have a plan for when to cut losses if you turn out to be wrong in order to protect your capital. i don't need to believe the bitcoin is a good currency (it isn't) or that the price will perpetually go up (it won't) to profitably speculate on the bitcoin market. i do have to assume significant risk, but in my estimation, the reward is worth the risk. Uranium 235 fucked around with this message at 16:35 on Nov 16, 2017 |
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Nov 16, 2017 16:33
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