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My Linux Rig posted:Are you sure it’s priceless? I think about this. But chances are I would have sold them at $60, or would have lost them at mtgox, or whatever. Also, I didn't buy them then because I thought they were dumb.
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Nov 26, 2018 02:46
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My Linux Rig posted:Are you sure it’s priceless? All y'all say that poo poo, it's like saying "You could have voted for Bernie, but instead you ate ice cream." These are separate options! Posting is mostly free!
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Nov 26, 2018 02:57
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roffels posted:I think about this. But chances are I would have sold them at $60, or would have lost them at mtgox, or whatever. Also, I didn't buy them then because I thought they were dumb. it doesn’t change the fact that if you did hold on to them, that you would have made at least 10x your original investment That’s pretty good performance for an investment but who cares bitcoins is dumb!!! Nessus posted:Yo seriously though, what the gently caress is up with your monotonous grating from beyond the grave that "YOU COULD HAVE BOUGHT IT, AND MADE MONEY, INSTEAD OF POSTING"? I'm not going to claim my jokes are particularly good but at least I have like three or four I rotate between! Look at this miserable posting, see what happens when you don’t buy bitcoin?
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Nov 26, 2018 02:58
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Ad by Khad posted:I could've bought bitcoins at 60 cents but I wouldn't have a dime out of it today even if I did, because the whole ecosystem is hosed. Largest exchange gets hacked and robbed and exit scams in shame? Smaller exchange is running their entire platform on an Amazon instance with no backups? Ponzi scheme? Hard drive failure? Typo a single digit while sending money? Fall asleep next to a mining rig and wake up with brain damage? Unfamiliar with specific nuances of your country's tax code? Went to a bitcoin conference and had your dozen laptops stolen in plain sight? Got mugged by someone who overheard your nerd poo poo? Swallowed your USB drive because you were terrified of getting robbed? It just occurred to me that this whole list is taken from only the first 2-3 years of the somethingawful laughchain and leaves out Bruce, the hero of bitcoin, and also leaves out like 5 whole years that came afterward to get us to where we are today
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Nov 26, 2018 03:02
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My Linux Rig posted:it doesn’t change the fact that if you did hold on to them, that you would have made at least 10x your original investment And if I had picked 11, 33, 51, 56, 58, and 18 for the Powerball, I would have made 153 million! That's even better performance!
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Nov 26, 2018 03:05
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My Linux Rig posted:Are you sure it’s priceless? At this point even if you had miraculously avoided the scams, thefts, etc. it's not an easy time to cash out the imaginary crypto pogs for real money and there's a reasonable chance you'll get scammed during that process, too. They aren't actually worth $4,000 until you manage to get somebody to hand you $4,000 for one. Warbadger fucked around with this message at 03:08 on Nov 26, 2018 |
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Nov 26, 2018 03:05
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Warbadger posted:At this point even if you had miraculously avoided the scams, thefts, etc. it's not an easy time to cash out the imaginary crypto pogs for real money and there's a reasonable chance you'll get scammed during that process, too. yeah it carries that risk. making money always has risks. but those risks are way over reported because they’re dramatic and new, it’s actually pretty safe to sell your bitcoins these days
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Nov 26, 2018 03:09
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My Linux Rig posted:it doesn’t change the fact that if you did hold on to them, that you would have made at least 10x your original investment As could many of the people whining about the current price crash, if they had sold instead of holding. It seems that the truth faithful don't believe it's ever appropriate to sell because they still believe it's going to be worth a gazillion dollars one day. They don't look at it from a "if I sell now, I'll get a 10x, 100x, 1000x return on my investment" viewpoint. They always look at it from a "but it might go higher" position.
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Nov 26, 2018 03:12
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Lolie posted:As could many of the people whining about the current price crash, if they had sold instead of holding. It seems that the truth faithful don't believe it's ever appropriate to sell because they still believe it's going to be worth a gazillion dollars one day. They don't look at it from a "if I sell now, I'll get a 10x, 100x, 1000x return on my investment" viewpoint. They always look at it from a "but it might go higher" position. yeah yeah you can wring your hands all you want about knowing when the perfect time to sell is it won’t change the fact that $30 two years ago would be worth over $150 today that’s pretty good performance on an investment
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Nov 26, 2018 03:19
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I know a couple people through work who were okay guys before they bought in around 6K last summer. When they started making money, they became unbearable. It was the only thing they could talk about. Then when they started losing money, they turned into complete assholes. One of them totally hosed up a new leadership position. He became constantly and weirdly paranoid and defensive. I think of all the bridges these bitcoin people burned among their friends, family and coworkers.
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Nov 26, 2018 03:24
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Warm und Fuzzy posted:I know a couple people through work who were okay guys before they bought in around 6K last summer. When they started making money, they became unbearable. It was the only thing they could talk about. Then when they started losing money, they turned into complete assholes. One of them totally hosed up a new leadership position. He became constantly and weirdly paranoid and defensive.
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Nov 26, 2018 03:28
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My Linux Rig posted:yeah it carries that risk. making money always has risks. but those risks are way over reported because they’re dramatic and new, it’s actually pretty safe to sell your bitcoins these days This is a pretty high risk investment as far as investments go (because it isn't really, it's gambling on a pyramid scheme presented as a kind of commodity) and as in any pyramid scheme somebody else has lose $1 for anybody to make $1 and the system's structure ensures that most people *will* be losers. The risk of scams and difficulty of cashing out has been a thing for a while, it's neither new or (usually) especially dramatic. Warbadger fucked around with this message at 03:32 on Nov 26, 2018 |
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Nov 26, 2018 03:29
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My Linux Rig posted:it doesn’t change the fact that if you did hold on to them, that you would have made at least 10x your original investment sorry, none of us are as smart as you so we don't know how to make the right calls with 20/20 hindsight. also I could use some lottery tips, can you tell me last friday's winning numbers so I can win $170 million?
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Nov 26, 2018 03:29
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Warbadger posted:This is a pretty high risk investment as far as investments go (because it isn't really, it's gambling on a pyramid scheme presented as a kind of commodity) and as in any pyramid scheme somebody else has lose $1 for anybody to make $1 and the system's structure ensures that most people *will* be losers. Adar posted:we've been over the negative sum part about a dozen times ITT already. there are comparatively few actual losers, both because there aren't that many people who got in specifically in December/January and because the bulk of the cashout process was 'funded' by a relative handful of oligarchs + Wall Street getting in late in the game for huge sums. this is set to continue going forward, since the retail hype has worn off enough that the funds coming in are mostly institutional. while it's true less money comes out than goes in, many more actual humans are up than down. at some point this will change but unless prices completely collapse it won't happen for years.
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Nov 26, 2018 03:35
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My Linux Rig posted:yeah yeah you can wring your hands all you want about knowing when the perfect time to sell is It's an excellent performance. The true believers, however, tend to dismiss it as trivial because they're greedy. Look at how many of the "names" in Bitcoin got conned by pirate because they weren't happy with already good returns. Bitcoin attracts a lot of people who aren't just looking for something which outperforms standard investments but for something which will literally make them wealthy quickly. So they're not going to sell at $150 because doubling their outlay doesn't interest them - and until they actually sell they haven't made a cent. My main point is that if you really believe Bitcoin is eventually going to hit $100,000 or more, there's no need to invest life ruining amounts of money. Modest amounts which you can easily afford to lose will still bring you a great return if you're right. They just won't make you a billionaire.
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Nov 26, 2018 03:36
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Warbadger posted:This is a pretty high risk investment as far as investments go and as in any pyramid scheme somebody has lose $1 for anybody to make $1 and the system's structure ensures that most people *will* be losers by disproportionately rewarding early participation. It is a pretty high risk investment which is why everyone always says to invest what you’re comfortable losing, but seems to be paying out pretty well right now even despite the recent dips and yep someone is losing money, somebody buys and somebody sells. that’s always the case with stocks, products, services, etc. that doesn’t mean that it’s a scam
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Nov 26, 2018 03:36
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Imagine creating a working time machine and going back to 2009 and using your foreknowledge of exactly everything that is going to happen to buy a million bitcoins and then lose them all on some exchange "hack" that didn't happen in your original timeline but happened on the new one because they didn't want to give you the money Instead of, you know, investing in Apple stock which would still net you 10x with almost zero effort, or Netflix, or daytrading your way to untold billions in the real stock market. Seed capital? Win the lottery. Then develop all the scientific advancements that would have happened in the last 9 years yourself and make some cool trillions on top of that. Pochoclo fucked around with this message at 03:39 on Nov 26, 2018 |
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Nov 26, 2018 03:36
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Pochoclo posted:Imagine creating a working time machine and going back to 2009 and using your foreknowledge of exactly everything that is going to happen to buy a million bitcoins and then lose them all on some exchange "hack" that didn't happen in your original timeline but happened on the new one because they didn't want to give you the money but then your wallet gets hacked because you downloaded some trojan wallet software
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Nov 26, 2018 03:39
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comedyblissoption posted:then you use your time machine again to make sure you send your coins to your wallet and the exchange miraculously obliges
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Nov 26, 2018 03:55
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Warbadger posted:This is a pretty high risk investment as far as investments go (because it isn't really, it's gambling on a pyramid scheme presented as a kind of commodity) and as in any pyramid scheme somebody else has lose $1 for anybody to make $1 and the system's structure ensures that most people *will* be losers. Bitcoin is a zero sum game. If you're winning it's because someone else is losing. My Linux Rig posted:and yep someone is losing money, somebody buys and somebody sells. that’s always the case with stocks, products, services, etc. that doesn’t mean that it’s a scam Some stocks give dividends. Not sure how products and services compare to buying and selling stocks. Hillary 2024 fucked around with this message at 04:52 on Nov 26, 2018 |
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Nov 26, 2018 04:48
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I thought that when you actually “sell” bitcoins they take weeks to become actual money unless you want to gamble on being beat up in a parking lot? Is there some trick to being able to micro day trade this poo poo and then realizing this value?
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Nov 26, 2018 05:01
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Hillary 2020 posted:Bitcoin is a zero sum game. If you're winning it's because someone else is losing. That was my point. For anyone to win big at the Bitcoin gamble at least one person had to lose equally big. There is no value created, only value transferred or outright lost via fees and inefficiencies. It's a gamble whether you win or lose and one in which you haven't really won anything until you actually cash out of the game.
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Nov 26, 2018 05:02
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Partycat posted:I thought that when you actually “sell” bitcoins they take weeks to become actual money unless you want to gamble on being beat up in a parking lot? Is there some trick to being able to micro day trade this poo poo and then realizing this value? That may have been the case way back when, but nowadays you have mature platforms like Coinbase. It only takes a few days to withdraw to your bank account, if that.
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Nov 26, 2018 05:12
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Hillary 2020 posted:Bitcoin is a zero sum game. If you're winning it's because someone else is losing.
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Nov 26, 2018 05:25
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It's actually good for bitcoin that the market is crashing and taking out a ton of people with it. It's very good that people are abandoning their mining rigs en masse. It's loving great actually. Guys, it is god drat motherfucking PERFECTION right now for the bit coin and I wish y'all could just SEE IT. LOOK.
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Nov 26, 2018 05:25
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Miner pays $4,800 for energy to mine a bitcoin. Buyer exchanges $4,800 for the bitcoin with the miner. The system now has gained a net of:
Bitcoin is a negative sum system.
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Nov 26, 2018 05:33
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i can't believe i didn't just invent facebook or inherit a vast fortune what have i done wiht my life
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Nov 26, 2018 06:02
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Buttcoins are powered by butts. There is no energy waste.
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Nov 26, 2018 06:15
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My Linux Rig posted:it doesn’t change the fact that if you did hold on to them, that you would have made at least 10x your original investment but enough about your posting
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Nov 26, 2018 06:18
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My Linux Rig posted:yeah yeah you can wring your hands all you want about knowing when the perfect time to sell is Is a good investment based only on it's return?
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Nov 26, 2018 06:19
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moolchaba posted:Buttcoins are powered by butts. There is no energy waste. I have been looking for this gif for loving ages, thank you
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Nov 26, 2018 06:24
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 coming soon to a landfill near you
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Nov 26, 2018 06:45
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Goodpancakes posted:Is a good investment based only on it's return? Yes that is correct, no one has ever withheld or retracted an investment due to ethical or moral concerns. The only concern for any well-adjusted and definitely not broke-brained person is that number go up
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Nov 26, 2018 06:59
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I see Bitcoin is back up to nearly $4,000. I assume this means the crisis is over, and it’s time to buy.
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Nov 26, 2018 09:15
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Laughing at bitcoin posters is low risk, high reward and carbon neutral. No wonder they hate it.
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Nov 26, 2018 10:01
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Loden Taylor posted:And if I had picked 11, 33, 51, 56, 58, and 18 for the Powerball, I would have made 153 million! poo poo, why didn't you tell us the winning numbers sooner?! I would have shared.
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Nov 26, 2018 10:42
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I got this guy Bern, has some interesting ideas on derivitives. Been getting 10% a year since the 80s, not sure why there should be soon and gloom about market beating. It's totally natural for there to be winners and losers.
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Nov 26, 2018 12:43
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lol
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Nov 26, 2018 12:53
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"can anyone spare a bit? Journalism doesn't pay like it used to"
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Nov 26, 2018 13:12
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*from atop my hobo throne* you fools, you naysayers, look upon my fortune; each and every one of you could have invested in methamphetamine precursors
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Nov 26, 2018 13:43
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