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Ham Sandwiches posted:In the last bitcoin thread a financial industry dude with 140 IQ wrote like 4 long rear end posts about how bitcoin is a scam that will never be worth anything, I plan to revisit those posts when bitcoin hits either 7.5k or 10k, depending on when that is Oh? I see. Is it happening?
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Nov 27, 2017 07:49
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Chadzok posted:buy a bitcoin
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Nov 27, 2017 08:40
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Saw a YouTube commercial for some altcoin with all these montages of helicopters dropping mining farms contained in shipping containers at the end of a runway with a satellite uplink. Then the gensets fire up and burn off a bunch of blue smoke. What in the actual gently caress why would someone want a portable self contained mining farm delivered by helicopter ?
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Nov 27, 2017 09:38
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You can make loads of money from speculative bubbles if you can gauge the IQ divided by the age of the average new investor. That number is crucial. Get in when young smart people are excited, jump when dumb & elderly people know about it. Same for any trend, really.
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Nov 27, 2017 10:00
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Fairly passive posted:You can make loads of money from speculative bubbles if you can gauge the IQ divided by the age of the average new investor. That number is crucial. Get in when young smart people are excited, jump when dumb & elderly people know about it. Same for any trend, really. For the last 20 years, this is how I've been gauging interest in my rear end and let me say, this guy is right.
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Nov 27, 2017 10:03
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Used to be young intellectual people were very interested in my rear end but these days its mostly old people; I guess the writing is on the wall, its time to get out of my rear end.
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Nov 27, 2017 10:04
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I knew it was time for me to stop being seriously invested in my rear end, when I heard my father in law talk about it very excitedly over thanksgiving dinner.
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Nov 27, 2017 10:04
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Lime Tonics posted:The electricity used to mine bitcoin this year is bigger than the annual usage of 159 countries Napkin calculation estimates that mining 1 bitcoin currently uses 14 MWh, as much electricity as used for producing 1 ton of aluminum, except you don't even get a ton of aluminum.
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Nov 27, 2017 12:05
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Pyromancer posted:Napkin calculation estimates that mining 1 bitcoin currently uses 14 MWh, as much electricity as used for producing 1 ton of aluminum, except you don't even get a ton of aluminum. not even pennis are made of aluminum
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Nov 27, 2017 13:53
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Uranium 235 posted:why would i want a ton of dumb aluminum when i can have massless bitcoins
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Nov 27, 2017 14:23
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Pyromancer posted:Napkin calculation estimates that mining 1 bitcoin currently uses 14 MWh, as much electricity as used for producing 1 ton of aluminum, except you don't even get a ton of aluminum. I learned today a pound of aluminum trades at less then a dollar.
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Nov 27, 2017 15:04
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Manic Technophile posted:Just like Bitcoin, pennies cost more to produce than they're actually worth.
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Nov 27, 2017 15:37
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Fairly passive posted:You can make loads of money from speculative bubbles if you can gauge the IQ divided by the age of the average new investor. That number is crucial. Get in when young smart people are excited, jump when dumb & elderly people know about it. Same for any trend, really. This is doubly true of Bitcoin. At some point once the old people figure it out and realize it's not just computer magic, they're all going to go hey I've seen this before, this is a loving ponzi scheme and crash it into the ground. Bitcoin will be worth $0 someday. That day could be today. If that day isn't today, the Bitcoin nerds will be laughing all the way to their next sweaty-palmed moment of horror as the entire market shifts by double-digits in a single day. Because it's such a good store of value amiriteguize? (breathes into a paper bag)
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Nov 27, 2017 17:31
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revwinnebago posted:This is doubly true of Bitcoin. At some point once the old people figure it out and realize it's not just computer magic, they're all going to go hey I've seen this before, this is a loving ponzi scheme and crash it into the ground. old people will realize bitcoin is a ponzi scheme and somehow cause its exchange value to drop to zero? how do you imagine that will manifest?
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Nov 27, 2017 18:05
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Uranium 235 posted:wait what wallstreet journal guy reports satoshi is fake and gay
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Nov 27, 2017 18:20
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GE is a steal right now. Nerds will be draining power like vampires this holiday season; appliances will be in demand once Florida starts rebuilding their McMansions
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Nov 27, 2017 18:32
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revwinnebago posted:Bitcoin will be worth $0 someday. That day could be today. Nah, when the speculative bubble pops it'll just fall back to 2008 levels and still be used as drug currency, but to buy it youll have to western union to a guy in belarus like buying liberty reserve back in the day
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Nov 27, 2017 18:32
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Uranium 235 posted:wait what Two separate but related statements. One, Bitcoin is a ponzi scheme and people are much more likely to realize this if they're seasoned investors who finally understand the market rather than idealistic preppers blinded by "muh fiat currency". Nobody finds out an investment is a ponzi scheme, and then pumps money into it, unless you have a very short-range goal and you think you can get out scot-free. It's like someone invented a kit where you just buy a truck and drive it down to Wall Street where idiots in suits throw wads of money at your truck. You drive away with their money and you're safe because a wall of libertarians protect you by stopping the angry suits with vague promises about a magic blockchain. There are lots of reasons to start up your own truck business, and if you have a good disguise there's plenty of reason to run alongside a truck and collect some of the money bouncing off the windshield. But don't ride along with someone and keep circling the block, at some point the jig is going to be up. [Edit: This is why there are thousands of crypto currencies hitting the market every day, it's "free money"(tm)] Two, Bitcoin could have dropped to effectively $0 in the time I've been typing this. If some Russian hacker group discovers there's a flaw in the crypto that lets them steal a large number of wallets, your favorite market could be effectively over at this moment. The question of when this will happen is more of a when, than an if. Again, no seasoned investor would put money into this unless they have an explicit short-term goal and a way to cover their asses. poverty goat posted:Nah, when the speculative bubble pops it'll just fall back to 2008 levels and still be used as drug currency, but to buy it youll have to western union to a guy in belarus like buying liberty reserve back in the day Effectively $0, normal people wouldn't want it as a store of value as has been promised by the Lords of the Crypto.
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Nov 27, 2017 18:35
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killmeimmafailure posted:GE is a steal right now. Nerds will be draining power like vampires this holiday season; appliances will be in demand once Florida starts rebuilding their McMansions I kind of feel like this about EA too except I'm just waiting for the loot box drama to blow over and for them to reveal that everyone bought the Star Wars anyway.
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Nov 27, 2017 18:37
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I’ve got a brick and motor store hoping for the dead beat dad contingency
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Nov 27, 2017 18:45
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I saw an Amazon brick and mortar bookstore at the mall the other day and I had to sit down for a moment. e: I don't think this is the same one but 
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Nov 27, 2017 18:48
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COMRADES posted:I saw an Amazon brick and mortar bookstore at the mall the other day and I had to sit down for a moment. this is a side effect of being in the onion timeline
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Nov 27, 2017 18:49
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actually maybe it won't hit 10k
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Nov 27, 2017 18:49
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COMRADES posted:I kind of feel like this about EA too except I'm just waiting for the loot box drama to blow over and for them to reveal that everyone bought the Star Wars anyway. That battlefield 2 boycott steam image is appropriate here. Of course they bought it, and they probably bought tons of loot boxes too.
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Nov 27, 2017 18:49
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Raldikuk posted:That battlefield 2 boycott steam image is appropriate here. Of course they bought it, and they probably bought tons of loot boxes too. It was Call of Duty MW2 ("boycotted" because it was the first PC multiplayer-capable FPS to not offer a function for end users to run their own servers).
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Nov 27, 2017 18:53
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scott zoloft posted:actually maybe it won't hit 10k actually maybe it will
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Nov 27, 2017 19:01
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scott zoloft posted:actually maybe it won't hit 10k ༼ つ ◕_◕ ༽つ Bitcoin take my energy ༼ つ ◕_◕ ༽つ
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Nov 27, 2017 19:04
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The best thing is people going "ah, but the bitcoin market cap is more than General Electrics!!" As if this means anything at all. General electric has 360 billion of assets and generates revenue using them, not 160 billion of nerd get-rich-quick-schemes manipulated by trading bots and russian scammers.
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Nov 27, 2017 19:09
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I'm here to offer you guys the opportunity to invest in my rear end, and store your values in it.
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Nov 27, 2017 19:13
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My rear end: it's not just for young people, anymore.
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Nov 27, 2017 19:13
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Do you accept direct deposits?
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Nov 27, 2017 19:14
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COMRADES posted:Do you accept direct deposits? You have to transfer your assets and values into my rear end by way of the so called "rear end wallet protocol", which is encrypted.
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Nov 27, 2017 19:20
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scott zoloft posted:actually maybe it won't hit 10k scott zoloft posted:actually maybe it will
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Nov 27, 2017 19:22
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-Blackadder- posted:Oh? I see. Is it happening? Not yet, give it a bit more time
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Nov 27, 2017 19:24
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Who do I have to give my credit card information to to buy a bitcoin?
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Nov 27, 2017 19:30
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Oscar Wild posted:Who do I have to give my credit card information to to buy a bitcoin? Coinbase/Gdax or Gemini are probably your best bet in the US for exchanges / trading cryptocurrencies If you mean just buy a bitcoin there's some ATMs around
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Nov 27, 2017 19:33
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Ham Sandwiches posted:Not yet, give it a bit more time
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Nov 27, 2017 19:36
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Computer Serf posted:wallstreet journal guy reports satoshi is fake and gay THIS IS A VICIOUS CALUMNY Craig Wright is fake and poundingly heterosexual
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Nov 27, 2017 20:10
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Manic Technophile posted:Yeah it's up to 8800 holy gently caress. There will be divorces caused by Bitcoin. At least one of the people involved will be better off.
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Nov 27, 2017 20:18
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gary oldmans diary posted:i am tired of you 2 always fighting u can be our friend if you want
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Nov 27, 2017 20:32
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