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quote:If it keeps increasing at this rate, Bitcoin mining will consume all the world’s electricity by February 2020. lol
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Nov 23, 2017 01:27
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for the love of christ how do you short this poo poo!!!
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Nov 23, 2017 01:28
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there’s a leveraged proshares etf for bitcoin I think but you know deep down inside bitcoin will only go up
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Nov 23, 2017 01:35
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in 2018 bitcoin will hit 3 digits again
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Nov 23, 2017 01:38
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there's been a buttcoin atm at my local mall for a couple years, i wonder if anyone uses it
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Nov 23, 2017 01:43
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I remember listening to a friend telling me about how stupid bitcoin was back in like 2010 or so I briefly considered buying a couple of coins with some spare money and to sit on it and see what happens because I was curious, not because I wanted to make any money off it on the one hand, I'm now like $15,000 poorer because i didn't on the other, lol what a mess
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Nov 23, 2017 01:43
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a "currency" based on literally nothing but wasted energy
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Nov 23, 2017 02:16
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Rhesus Pieces posted:a "currency" based on literally nothing but wasted energy bitcoin is backed by international crime and human trafficking
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Nov 23, 2017 02:17
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SKULL.GIF posted:I remember listening to a friend telling me about how stupid bitcoin was back in like 2010 or so the bitcoins may theoretically be worth more, but good luck actually cashing out you've gotta be lucky with your timing all over again, because not only does the price swing wildly, but every exchange that converts bitcoins to dollars either gets hacked/robbed and tries to cover it up or was always a scam in the first place
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Nov 23, 2017 03:30
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Main Paineframe posted:these poor unfortunate landlords, barely able to keep their second roof over their head and being unfairly squeezed by BIG HOTEL's dastardly anti-competitive regulations 
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Nov 23, 2017 03:30
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Main Paineframe posted:the bitcoins may theoretically be worth more, but good luck actually cashing out like I said there’s etfs now so you don’t have to actually ever own a bitcoin but are free to speculate wildly on their price
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Nov 23, 2017 03:35
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SKULL.GIF posted:I remember listening to a friend telling me about how stupid bitcoin was back in like 2010 or so do you kick yourself for not speculating on beanie babies too? because you shouldn’t
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Nov 23, 2017 03:56
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Rex-Goliath posted:do you kick yourself for not speculating on beanie babies too? because you shouldn’t I'm hardly kicking myself. in all likelihood I would have just shrugged and sold them off when one of their 8000 crashes happened or just forgot about them
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Nov 23, 2017 03:58
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im more into tamagochi speculating tbh.
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Nov 23, 2017 04:03
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Main Paineframe posted:you've gotta be lucky with your timing all over again, because not only does the price swing wildly, but every exchange that converts bitcoins to dollars either gets hacked/robbed and tries to cover it up or was always a scam in the first place this is actually kinda obsolete. there is at least one reputable US based exchange now (Coinbase), which I can say first hand will get you filthy fiat for your glorious cryptocurrencies now if you want one that will help you commit tax fraud that is a little more dicey
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Nov 23, 2017 04:13
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Scent of Worf posted:im more into tamagochi speculating tbh. i heard those are coming back
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Nov 23, 2017 04:28
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Scent of Worf posted:im more into tamagochi speculating tbh.
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Nov 23, 2017 04:52
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Epic High Five posted:bitcoin is backed by international crime and human trafficking this is a surprisingly strong and stable backing
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Nov 23, 2017 04:52
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there was a brief period where like four family members were abuzz about making money off bitcoin, because some in-law kid was making bank off investing in it like five months later, that kid ended up murdering someone as part of a probable drug deal gone wrong and he's probably doing life in prison this is my story about bitcoin
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Nov 23, 2017 04:53
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A MIRACLE posted:there’s a leveraged proshares etf for bitcoin I think It's insane that a leveraged Bitcoin etf even exists
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Nov 23, 2017 05:12
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insanely awesome, if you can watch and interpret btc news you can ride their surges and profit take without giving a gently caress about the underlying technology or its dumb early adopting users
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Nov 23, 2017 05:31
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bitcoins are impossible to actually sell though you can put money in but you can't get it out
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Nov 23, 2017 05:45
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well yeah that's how currency works retard where do you plan to sell your US dollars
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Nov 23, 2017 05:53
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YA BOY ETHAN COUCH posted:well yeah that's how currency works retard
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Nov 23, 2017 05:56
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/pizza
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Nov 23, 2017 06:05
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i kind of wish i'd thrown a little money at bit coin back in the day so i could now have basically unlimited drugs for free
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Nov 23, 2017 10:02
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triple sulk posted:bitcoins are impossible to actually sell though again, this is not true i converted mid-4 figures of crypto to USD earlier in the year because i was dumb enough to mine in 2014, held on to the wallet, and was bailed out by the overall price rise this year crypto is getting more legit it's still a ridiculous bubble though edit: don't make posts before drinking coffee Agronox fucked around with this message at 14:04 on Nov 23, 2017 |
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Nov 23, 2017 13:34
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Agronox posted:this is actually kinda obsolete. there is at least one reputable US based exchange now (Coinbase), which I can say first hand will get you filthy fiat for your glorious cryptocurrencies people used to say that about mtgox too and several other now-defunct exchanges that either took the money and ran, or stopped letting people convert because they'd been hacked and were covering it up
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Nov 23, 2017 15:47
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Jose posted:i kind of wish i'd thrown a little money at bit coin back in the day so i could now have basically unlimited drugs for free I’ll accept this take and yeah agreed I was one of the people here who was making fun of butts when the white paper was first published and you could still mine with a personal machine and come out with hundreds of butts after a week or so. I basically ran it and went ‘ok huh this is dumb’ and deleted all of it. I used to not regret it due to also seeing so many other people’s lives ruined but otoh yeah I could have had free drugs for life. oh well
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Nov 23, 2017 16:38
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Anti-crypto people are cool because they manage to convince themselves people have somehow lost money (or are perpetually about to) when the stuff's gone from $0.03 to $8000 in like five years.
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Nov 23, 2017 16:51
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Thug Lessons posted:Anti-crypto people are cool because they manage to convince themselves people have somehow lost money (or are perpetually about to) when the stuff's gone from $0.03 to $8000 in like five years. there are better ways to invest your money, preferably in things that lead to employment bitcoin is only a panacea to libertarians
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Nov 23, 2017 16:54
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They have lost money, they just haven't realized it yet. That's what a 'speculation bubble' is, it's the transfer of wealth from the last people out the door, who are left holding the bags, to the people who chashed out. Or, the people who made bad 'bets' and lost int he middle run. Or just got straight up scammed. Eventually, there's going to be a 'run'. There's no real economy backing bitcoin, not enough to let everyone actually cash out at the same time.
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Nov 23, 2017 16:55
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the fact that bitcoin has made people an enormous amount of money doesn't change the fact that it's a dumb as hell technology with almost no practical use-case that can barely scale enough to deal with its paltry transaction levels without forking a dozen times. its rise is purely speculation, and so it will continue to go up and up until it doesn't, at which point it will free fall to worthlessness.
Concerned Citizen fucked around with this message at 17:00 on Nov 23, 2017 |
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Nov 23, 2017 16:56
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People made money when they flipped houses before the crash. This isn't a way to invest money safely it's betting on making a return before the thing goes bust, call it what it is, casino capitalism.
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Nov 23, 2017 16:59
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Thug Lessons posted:(1920s stock trader voice) Anti-stock market people are cool because they manage to convince themselves people have somehow lost money (or are perpetually about to) when the stuff's gone from $0.03 to $8000 in like five years.
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Nov 23, 2017 17:01
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Tiberius Christ posted:People made money when they flipped houses before the crash. This isn't a way to invest money safely it's betting on making a return before the thing goes bust, call it what it is, casino capitalism. and hey, if you want to keep putting money into that slot machine, go for it. you might make a lot of money, you might lose it all. that's life. but it's definitely not the future of currency
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Nov 23, 2017 17:01
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I bought twelve bitcoins worth of stuff for secret Santa presents ages and ages ago (less than $50 total) and I have to tell myself repeatedly that if id kept those coins they'd have been stolen because God damnit
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Nov 23, 2017 17:02
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mastershakeman posted:I bought twelve bitcoins worth of stuff for secret Santa presents ages and ages ago (less than $50 total) and I have to tell myself repeatedly that if id kept those coins they'd have been stolen because God damnit i remember finding out about bitcoin in 2010, before there were even really any exchanges for it, and buying bitcoin involved going to an irc channel with a paypal. i remember downloading the client and briefly mining out of curiosity before deciding it was a big waste of time. so yeah, i guess if i had stuck with it and didn't sell at $100 i'd be extremely wealthy and probably just retired on my dumb luck bitcoin money.
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Nov 23, 2017 17:09
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You guys aren't getting it The bitcoin economy doesn't actually generate value, and (US) cash inflow has to match cash outflow, which includes the electricity costs of running the drat rigs. So, conceivably you might have been able to cash out for a profit, but probability suggests your more likely to be the mark: either you're someone who speculated at the wrong time, or you're going to be left with a hoard of useless binary digits when it crashes.
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Nov 23, 2017 17:21
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Its like wringing your hands over not buying a lottery ticket. The game is rigged from the start.
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Nov 23, 2017 17:23
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