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If banks ever use actual cryptocurrencies, they will develop their own. They're not gonna loving rely on something that's controlled by a shady bunch of people with backdoor access. Banks have absolutely no incentive to pay huge premiums to use any existing coins. Basically invest your whole 401K into Ripple!
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Jan 2, 2018 17:58
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but so many people are talking about this thing, they wouldn't endorse it just because the only way to increase the value of their 'investment' is to get more people to buy in??
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Jan 2, 2018 18:22
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Is etherium the new bitcoin? I heard someone yammering on about it the other day. I tried googling it and it looks like bitcoin v2. And what is ripple? Burstcoin? Litecoin? Why are there so many of these things?
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Jan 2, 2018 18:25
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This. This so hard. BigHandsVince posted:A family friend has built a PC with 3-4 graphics cards to mine etheriums, it must have cost about £1000 for the setup. How bad of an idea is this? Here's a simple guide: 1) Is your friend in China, or tapping into a university's power system, or another area where power is basically free? If YES) Go to 2. If NO) Go to 3. 2) Does your friend realize that graphics card haven't been efficient in years and every real miner moved to custom logic chips ages ago? If YES) Go to 3. If NO) Go to 3. 3) I'm lollin. Like no seriously like Adafruit constantly reposts a tutorial to turn a Raspberry Pi into a miner and it's a great idea... if making like $.02 per year while sucking down a few dollars of electric seems like a good idea to you. It only scales up from there. junan_paalla posted:but so many people are talking about this thing, they wouldn't endorse it just because the only way to increase the value of their 'investment' is to get more people to buy in?? I swear to god if you don't get me the check for that Tupperware you ordered I'm going to break your kneecaps.
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Jan 2, 2018 18:26
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Waltzing Along posted:Is etherium the new bitcoin? I heard someone yammering on about it the other day. I tried googling it and it looks like bitcoin v2. And what is ripple? Burstcoin? Litecoin? Why are there so many of these things? Anyone can open up a new coin alternative in seconds with a little programming knowledge and some capital to get the initial servers/site going because the necessary code is public. Millions of dollars instantly come in from idiots. Cash in, launder money, rinse, repeat. https://www.bloomberg.com/news/articles/2017-12-21/crypto-craze-sees-long-island-iced-tea-rename-as-long-blockchain
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Jan 2, 2018 18:30
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Ive read on a newspaper about brazilians who are moving to Paraguay to set big bitcoin mining operations, because both eletricity and computer parts are very cheap down there. Some of them are supposedly making a lot of money on it So out of curiosity: how lucrative really is mining bitcoins now at the present moment, and how long can it last?
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Jan 2, 2018 18:35
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Elias_Maluco posted:So out of curiosity: how lucrative really is mining bitcoins now at the present moment, and how long can it last? No one really knows. If the price goes up enough then yes. If it goes down, then no. It's really a gamble and there are cases to be made on each side. The one thing I would say is don't listen to GBS for advice. There is probably a non joke thread somewhere else on the forum where there isn't as much static.
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Jan 2, 2018 18:40
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By my count, there are 4 bitcoin/crypto threads on SA at the moment. Try to find them all!
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Jan 2, 2018 18:53
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Waltzing Along posted:Is etherium the new bitcoin? I heard someone yammering on about it the other day. I tried googling it and it looks like bitcoin v2. And what is ripple? Burstcoin? Litecoin? Why are there so many of these things? There are so many of them because they are a get rich quick scheme. They are like investing in penny stocks. I did read that black market dealers are moving away from Bitcoin and to Etherium because Bitcoin is completely useless as a currency.
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Jan 2, 2018 19:14
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Waltzing Along posted:No one really knows. If the price goes up enough then yes. If it goes down, then no. It's really a gamble and there are cases to be made on each side. Posts like this bother me more than the bitcoin fanatics. You're making an assumption that because there are strong opinions on both sides the truth is somewhere in the middle. It's not. It's really, really not. Anyone who knows computer/network security knows you can't reasonably expect organizations or a significant portion of the population to protect a private key. If you can't protect your key you lose everything in crypto. It has happened time and time again. There are no systems for recovering stolen crypto and there never will be. That's the end of the conversation, literally nothing else about cryptocurrency matters. We're not all living in our parents' basements here
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Jan 2, 2018 19:36
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I am a bitcoin expert and I’m telling you now: Buy Bitcoin before it goes up! Bitcoin is the “it”coin! What are you doing still reading this? Why haven’t you bought more bitcoin?
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Jan 2, 2018 19:38
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Andy Dufresne posted:Posts like this bother me more than the bitcoin fanatics. You're making an assumption that because there are strong opinions on both sides the truth is somewhere in the middle. No. I just said no one knows and there are arguments on each side. You are making the assumption that I say it's in the middle. By stating it was a gamble I was saying it was one way or the other.
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Jan 2, 2018 19:54
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 lol and instead of or
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Jan 2, 2018 20:01
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gary oldmans diary posted:
That receipt looks like it says “obitcoin” at a glance... there’s an idea for an obituary-related crypto in here somewhere
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Jan 2, 2018 20:04
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just recorded an interview for BBC Tech Tent, likely to go out on BBC World Service on Friday (so Johnny Foreigner can listen to it too). Substantially about ... the Ripple pump!! you may be unsurprised that Ripple the Company are backpedaling so fast about XRP they'll break the world record for reverse circumnavigation by bicycle, and is frantically trying to disassociate themselves from the pump
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Jan 2, 2018 20:10
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I'm in a lot of IT security industry groups and the latest security trend is that all the criminals are currently moving away from Bitcoin to Monero and Zcash as there is a lot more privacy built in to hide money from the authorities. Several latest ransomwares out in the wild have in fact demanded Monero from the affected/encrypted computers instead of usual Bitcoin. Both improve on the Bitcoin code by either using fake transaction addresses (Monero) or encrypting all the addresses (Zcash) so you can't track/follow the stolen or illegal money at all. Once the drug trade money also follows this, basically the only thing that Bitcoin has ever been good for will be completely gone in 2018. Also current transaction fee on Bitcoin mining network to get anything done is $14 US DOLLARS PER TRANSACTION* so it definitely has a lot of excellent other uses for the general population. *Bitcoin has no transaction fees! So if you really wanna throw some cash into the crypto dumpster fire, follow the criminals. Rad Russian fucked around with this message at 20:31 on Jan 2, 2018 |
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Jan 2, 2018 20:17
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Now witness the firepower of this fully armed and operational cryptocurrency
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Jan 2, 2018 20:22
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Rad Russian posted:I'm in a lot of IT security industry groups and the latest security trend is that all the criminals are currently moving away from Bitcoin to Monero and Zcash as there is a lot more privacy built in to hide money from the authorities. Several latest ransomwares out in the wild have in fact demanded Monero from the affected/encrypted computers instead of usual Bitcoin. Both improve on the Bitcoin code by either using fake transaction addresses (Monero) or encrypting all the addresses (Zcash) so you can't track/follow the stolen or illegal money at all. Just to be sure I bought all the cryptocurrencies with Z in their name because Z is my favorite letter
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Jan 2, 2018 21:11
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I told my coworkers I just threw some money in my Roth cause it's a new year and one of them asked if I was going to put some of that investment in bitcoin. Imagine a world where you could fund a Roth IRA and have your entire portfolio be in various butts. 
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Jan 2, 2018 23:33
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Rad Russian posted:Several latest ransomwares out in the wild have in fact demanded Monero from the affected/encrypted computers instead of usual Bitcoin. Bitcoin is so over, even the Nigerian scammers have already divested. ...and when people learned about this, the price went up.
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Jan 2, 2018 23:42
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 I just checked my email and found this little gem:
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Jan 2, 2018 23:46
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Looks like Bitcoin is back up to $15,000. Might still have enough gas left in the tank for another run-up, now that every Joe Blow knows about it and wants to double his money on the bitcoin craze. I think we're likely to break $20,000 before the music stops.
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Jan 2, 2018 23:50
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(that's right, like from the news)
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Jan 3, 2018 00:27
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You know messing around with this nonsense, whether I lose it all or not, has just reinforced how dumb it is to be pouring money into it when you could be investing in nice safe index funds. I've only got a small amount of fun money riding on this and I still catch myself doing way too much chart watching and trading when I shouldn't. I check my actual retirement portfolio pretty rarely and I've got no urge to gently caress with it aside from dropping in my monthly payments. I can't imagine having my life savings tied up in this dipshittery.
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Jan 3, 2018 00:29
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Mr Teatime posted:You know messing around with this nonsense, whether I lose it all or not, has just reinforced how dumb it is to be pouring money into it when you could be investing in nice safe index funds. I've only got a small amount of fun money riding on this and I still catch myself doing way too much chart watching and trading when I shouldn't. I check my actual retirement portfolio pretty rarely and I've got no urge to gently caress with it aside from dropping in my monthly payments. I can't imagine having my life savings tied up in this dipshittery. I make $105 a month on a Patreon and keep behaving like I am required to obsess on this poo poo to offer the finest hottest takes whereas i should just post **CRYPTOS ARE TRASH Y'ALL**
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Jan 3, 2018 00:45
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divabot posted:I make $105 a month on a Patreon and keep behaving like I am required to obsess on this poo poo to offer the finest hottest takes
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Jan 3, 2018 00:52
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Mr Teatime posted:You know messing around with this nonsense, whether I lose it all or not, has just reinforced how dumb it is to be pouring money into it when you could be investing in nice safe index funds. I've only got a small amount of fun money riding on this and I still catch myself doing way too much chart watching and trading when I shouldn't. I check my actual retirement portfolio pretty rarely and I've got no urge to gently caress with it aside from dropping in my monthly payments. I can't imagine having my life savings tied up in this dipshittery.  100%I'm enjoying learning something new and have my losses capped at $115 (my deposit). I used to be a trader so it's fun to get back into it with no pressure. It's so silly though. I'm up $10 on my account in three days though! At this rate I think I will be a trillionaire by the end of the year.
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Jan 3, 2018 00:57
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TraderStav posted:
compounding interest in butts
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Jan 3, 2018 01:05
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Bitcoin jumped around $1500 on the Peter Thiel news.
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Jan 3, 2018 01:20
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Dadbod Apocalypse posted:Bitcoin jumped around $1500
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Jan 3, 2018 02:44
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Ruggan posted:Yes! Yes! YES! Still maintaining this theory...
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Jan 3, 2018 03:00
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The thing with bubbles is that you can think "I won't be left holding the bag - I'll get in, get out, easy money" and sure enough, that can happen, but that's also what every single person investing in a bubble and getting busted ever thought.
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Jan 3, 2018 03:23
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Master trolling right here.
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Jan 3, 2018 03:34
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Pochoclo posted:The thing with bubbles is that you can think "I won't be left holding the bag - I'll get in, get out, easy money" and sure enough, that can happen, but that's also what every single person investing in a bubble and getting busted ever thought. It really boils down to "why did you buy bitcoin" to make money when it goes up "why would somebody buy bitcoin from you when you want to sell once it has gone up?" to make money when it goes up "what is it called when the people getting in late are the only thing providing liquidity for the people who got in early to cash out" A
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Jan 3, 2018 03:48
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at this point even the janitor wherever you work will offer you his keen financial insight and recommend buying bitcoin
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Jan 3, 2018 04:08
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Often Abbreviated posted:Looks like Bitcoin is back up to $15,000. Might still have enough gas left in the tank for another run-up, now that every Joe Blow knows about it and wants to double his money on the bitcoin craze. I think we're likely to break $20,000 before the music stops. This is not based on anything rational - it's about how greedy and stupid people are. I'm betting(with actual money, now) that people, globally, are loving stupid and greedy, and it's not anywhere near the peak Mr Teatime posted:You know messing around with this nonsense, whether I lose it all or not, has just reinforced how dumb it is to be pouring money into it when you could be investing in nice safe index funds. I've only got a small amount of fun money riding on this and I still catch myself doing way too much chart watching and trading when I shouldn't. I check my actual retirement portfolio pretty rarely and I've got no urge to gently caress with it aside from dropping in my monthly payments. I can't imagine having my life savings tied up in this dipshittery. Yeah but an index fund giving you 6% yearly is boring, and cryptos are giving 1,800% (or -100%), so gently caress it roll die and bet on black
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Jan 3, 2018 04:18
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I bought a fraction of a bitcoin for two deeply important reasons: 1. I wanted to be part of a historically ridiculous bubble 2. I was spitefully hoping to destroy it by virtue of me having a token financial stake in it Are these reasons stupid? Yes.
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Jan 3, 2018 04:18
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Jonithen posted:I bought a fraction of a bitcoin for two deeply important reasons: I rest my case
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Jan 3, 2018 04:24
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100 HOGS AGREE posted:
that's right, like from the news mods
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Jan 3, 2018 04:35
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Imagine buying cryptos in 2018 instead of weed stocks lmao poo poo is legal in the world's 8th largest economy now friends e: 5th now apparently eat a dick france
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Jan 3, 2018 05:19
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