Bitcoin: no angel investors, only Faustian bargains

The Something Awful Forums > Main > General Bullshit > Bitcoin: no angel investors, only Faustian bargains

Junior Jr.: Oct 4, 2014; by sebmojo; Buglord

Yesterday in my hometown, some current affairs show on the BBC did a report on Bitcoin by getting some old farts to take the stupid decision of investing their real money into it rather than mining it.

I think this is the first instance that bitcoin has caught the mainstream's attention and they already hate it.

# ? Jan 16, 2018 13:07

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# ? May 28, 2024 15:27

Alan Smithee: Jan 4, 2005; A man becomes preeminent, he's expected to have enthusiasms.

Enthusiasms, enthusiasms...

https://www.reddit.com/r/Bitcoin/comments/7qor5q/current_bitcoin_sentiment/

quote:

/r/allCurrent Bitcoin Sentiment. (i.redd.it)

submitted 10 hours ago by pg3cryptoredditor for 3 months

bitcoin park also features a fat nerd and a pedophile

# ? Jan 16, 2018 13:11

100 HOGS AGREE: Oct 13, 2007; Grimey Drawer

The short sellers had a great night.

# ? Jan 16, 2018 13:16

paternity suitor: Aug 2, 2016

Waltzing Along posted:

How low would it have to go for the haters to jump on?

I think at $10 many people, myself included, would buy 10 then sit around and see what happens. Maybe.

So even at $10 it�s not a currency. Cool

# ? Jan 16, 2018 13:23

Andy Dufresne: Aug 4, 2010; The only good race pace is suicide pace, and today looks like a good day to die

At gdax there's basically no orders filling the gulf between $10,5 and $13,5. I wonder if every bitcoin trader needs to have some sort of alarm for price changes to wake them up.

# ? Jan 16, 2018 13:25

paternity suitor: Aug 2, 2016

I like a market that trades 24 hours. It�s the future. Sleep is for no coiners.

# ? Jan 16, 2018 13:28

Alan Smithee: Jan 4, 2005; A man becomes preeminent, he's expected to have enthusiasms.

Enthusiasms, enthusiasms...

paternity suitor posted:

I like a market that trades 24 hours. It�s the future. Sleep is for no coiners.

they should ring a bell at all times

it would be as productive as coin mining

# ? Jan 16, 2018 13:35

Liquid Communism: Mar 9, 2004; коммунизм хранится в яичках

quote:

[�]miss_took [score hidden] 2 hours ago
This is exactly what HODL was coined for. It signifies that, despite dramatic crashes, you believe in the long-term utility and vision of bitcoin. I certainly do, it's world-changing tech, and I will hodl because I know that peaks and dips are irrelevant to its long term value.

If you are scared and want to sell, especially if at a loss, this crypto business might just not be for you.

# ? Jan 16, 2018 13:56

Durzel: Nov 15, 2005

So it's neither a viable currency or something you should treat as an investment? What the hell is it?

How do I stick some money down on jQuery, the JavaScript library? I believe in it.

# ? Jan 16, 2018 14:22

lazorexplosion: Mar 19, 2016

# ? Jan 16, 2018 14:33

Doktor Avalanche: Dec 30, 2008

Durzel posted:

So it's neither a viable currency or something you should treat as an investment? What the hell is it?

world-changing tech

# ? Jan 16, 2018 14:34

zedprime: Jun 9, 2007; yospos

Durzel posted:

So it's neither a viable currency or something you should treat as an investment? What the hell is it?

How do I stick some money down on jQuery, the JavaScript library? I believe in it.

An unregulated low volume penny stock which allows gambling on bubble behavior.

# ? Jan 16, 2018 14:39

Lote: Aug 5, 2001; Place your bets

Durzel posted:

How do I stick some money down on jQuery, the JavaScript library? I believe in it.

$ORCL

It�s got a $205 billion market cap. Plus they give you 2% a year for HODLing it.

# ? Jan 16, 2018 14:42

scott zoloft: Dec 7, 2015; yeah same

lazorexplosion posted:

"After the end of World War II, the world was split into two -- East and West. This marked the beginning of the era called the Cold War"
―Naked Snake[src]

# ? Jan 16, 2018 14:43

Alpha Mayo: Jan 15, 2007; hi how are you?
there was this racist piece of shit in your av so I fixed it
you're welcome
pay it forward~

zedprime posted:

An unregulated low volume penny stock which allows gambling on bubble behavior.

That is pretty unfair to penny stocks.

# ? Jan 16, 2018 14:43

junan_paalla: Dec 29, 2009; Seriously, do drugs

quote:

[�]1100100011
[score hidden] 23 minutes ago

guys do you think it is still possible to10X my investment in terms of fiat within an year if I bought bitcoins at ath of 19k

or atleast 5x?

# ? Jan 16, 2018 14:48

lazorexplosion: Mar 19, 2016

I can no longer sit back and allow Communist manipulation, Communist FUD, Communist dumping and the international Communist conspiracy to sap and impurify all of our precious bitcoins.

# ? Jan 16, 2018 14:48

Alpha Mayo: Jan 15, 2007; hi how are you?
there was this racist piece of shit in your av so I fixed it
you're welcome
pay it forward~

gently caress I am conflicted now. I just found a mispriced mining rig rental that mines about .002 BTC/hour. I was able to rent it for $35 for 55 hours, and am locked in. That would be 0.11 BTC by the time it finishes... If Bitcoin is still >10K, that is $1100+

i shouldn't be playing with the poop

# ? Jan 16, 2018 14:53

scott zoloft: Dec 7, 2015; yeah same

Alpha Mayo posted:

gently caress I am conflicted now. I just found a mispriced mining rig rental that mines about .002 BTC/hour. I was able to rent it for $35 for 55 hours, and am locked in. That would be 0.11 BTC by the time it finishes... If Bitcoin is still >10K, that is $1100+

i shouldn't be playing with the poop

does anything really mine that fast anymore?

# ? Jan 16, 2018 14:55

Alpha Mayo: Jan 15, 2007; hi how are you?
there was this racist piece of shit in your av so I fixed it
you're welcome
pay it forward~

scott zoloft posted:

does anything really mine that fast anymore?

Bitcoins, no. Altcoins that pools auto-convert to bitcoins, yes.

After running the rig for 30 minutes:

# ? Jan 16, 2018 15:02

lazorexplosion: Mar 19, 2016

If you sold your bitcoin for tether your fun is probably just beginning.

# ? Jan 16, 2018 15:04

OhFunny: Jun 26, 2013; EXTREMELY PISSED AT THE DNC

lol

# ? Jan 16, 2018 15:09

scott zoloft: Dec 7, 2015; yeah same

dive dive dive!!! o_o

Alpha Mayo posted:

Bitcoins, no. Altcoins that pools auto-convert to bitcoins, yes.

After running the rig for 30 minutes:

cool!

# ? Jan 16, 2018 15:14

Alpha Mayo: Jan 15, 2007; hi how are you?
there was this racist piece of shit in your av so I fixed it
you're welcome
pay it forward~

Eh they canceled it. Crash and burn bitcoin

# ? Jan 16, 2018 15:20

Double Bill: Jan 29, 2006

OhFunny posted:

lol

HODL THE LINE they'll break on our defenses like water on rock

# ? Jan 16, 2018 15:21

Lote: Aug 5, 2001; Place your bets

Alpha Mayo posted:

That is pretty unfair to penny stocks.

Penny stocks and zombie companies at least have the �value� of occupying a name and a registration which another company could buy and take over instead of starting from scratch.

# ? Jan 16, 2018 15:24

Often Abbreviated: Dec 19, 2017; 1st Severia Tank Brigade
"Ghosts of Honcharivske"

Back below $12,000 again. C'mon, crash you bastard!

# ? Jan 16, 2018 15:24

Konar: Dec 14, 2006; by Fluffdaddy

HODL (the bag)

# ? Jan 16, 2018 15:27

the holy poopacy: May 16, 2009; hey! check this out; Fun Shoe

Liquid Communism posted:

He's 100% correct, peaks and dips are absolutely irrelevant to the long-term value of Bitcoin (which is $0)

# ? Jan 16, 2018 15:28

scott zoloft: Dec 7, 2015; yeah same

Alpha Mayo posted:

Eh they canceled it. Crash and burn bitcoin

lmao. sorry, bud. wait for another online outlet that accepts bitcoin and btcash to confuse the two.

# ? Jan 16, 2018 15:58

zmcnulty: Jul 26, 2003

Bitcoin eats poo poo the day before the first futures contracts at CBOE are due to hit expiry. And institutional investors have been building short positions? Oh golly, say this is just a coin-ky-dink Satoshi

zmcnulty fucked around with this message at 16:05 on Jan 16, 2018

# ? Jan 16, 2018 16:03

EugeneJ: Feb 5, 2012; by FactsAreUseless

Often Abbreviated posted:

Back below $12,000 again. C'mon, crash you bastard!

Had an admin of a game I play on Steam burst into chat the other day with "TELL ME ALL YOU KNOW ABOUT BITCOINS - I JUST PUT ALL MY MONEY INTO THEM"

Everyone's going to die on the street, it's funny

# ? Jan 16, 2018 16:08

hamtaro: Oct 7, 2008

everything is on fire

# ? Jan 16, 2018 16:15

Rad Russian: Aug 15, 2007; Soviet Power Supreme!

EugeneJ posted:

"TELL ME ALL YOU KNOW ABOUT BITCOINS - I JUST PUT ALL MY MONEY INTO THEM"

Easy. It's a ponzi, so he needs to convince at least 1000 other people besides him to buy in, for the price to go up and for him to make money. Start with your family.

# ? Jan 16, 2018 16:19

Party Boat: Nov 1, 2007; where did that other dog come from

who is he

Often Abbreviated posted:

Back below $12,000 again. C'mon, crash you bastard!

Is the fluctuation around $12k due to automated buy orders triggering? Are buttcoiners sending wave after wave of ~~men~~ money to try and choke the bear?

# ? Jan 16, 2018 16:27

Andy Dufresne: Aug 4, 2010; The only good race pace is suicide pace, and today looks like a good day to die

Guys I have it on strong authority (reddit) that mid-January is exactly the lowest price of the bitcoin year for each of the last 4 years because of the Lunar new year or some poo poo so it's up up uP from here. We're still on schedule for 10x in 2018!

# ? Jan 16, 2018 16:38

Comfy Fleece Sweater: Apr 2, 2013; You see, but you do not observe.

This is it. It�s over. It�s all over... Plrwse... where is the suicidi e hotline, I can�t read th screen very well with these tears in my eyes

# ? Jan 16, 2018 16:41

divabot: Jun 17, 2015; A polite little mouse!

Comfy Fleece Sweater posted:

This is it. It�s over. It�s all over... Plrwse... where is the suicidi e hotline, I can�t read th screen very well with these tears in my eyes

https://twitter.com/ButtCoin/status/953239916732919810

# ? Jan 16, 2018 16:44

Moola: Aug 16, 2006

scott zoloft posted:

"After the end of World War II, the world was split into two -- East and West. This marked the beginning of the era called the Cold War"
―Naked Snake[src]

i would buy a Nanocoin

# ? Jan 16, 2018 16:44

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# ? May 28, 2024 15:27

Andy Dufresne: Aug 4, 2010; The only good race pace is suicide pace, and today looks like a good day to die

Today I sold an S9 to a guy, and his story was a gut punch

quote:

Everyone's very aware of the crazy markup happening with Bitmain's ASICs, and I thought it was time to offload one of my S9s to take advantage. Long story short, I bought before things went crazy, and my ROI had more than been met so it seemed like a good time to sell and put all of that in BCH directly. For all intents and purposes, I'm setup to buy a little over 2 BCH with the sell.

The guy who ended up buying it from me only lived a little over 2 hours from me, so I decided to take a drive and deliver it in person. He had already paid, and i'm always interested in meeting people who are interested in hobby mining.

Off I went.

When I get there, we spend a few minutes plugging things in and testing. I tell him to make sure to change the pool settings ASAP to make sure he's not mining to my wallet. I joked that if he really wanted to, he could and I wouldn't be upset about it.

We chatted a bit more about BCH and how it would change lives across the world, and that's when he told me his intentions.

His family is in Venezuela, and he was planning to get the S9 up and running quickly so he could get food to them via BCH. He would later tell me that he may try to get the machine into Venezuela, but that he feared that the S9 might be confiscated or taxed so heavily that it would destroy any possible ROI.

I guess I just needed to tell you all this because I've felt like absolute poo poo all day for being a greedy capitalist rear end in a top hat while this guy just wanted to feed his friends and family in a country that epitomizes what the power of BCH was created to combat. Yes, I completely believe him because he had already paid and had no incentive to lie.

What are we doing to each other in this world?

This guy spent $4000 on a miner so he could send fun bucks to his family, what an rear end in a top hat

# ? Jan 16, 2018 16:49

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