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Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS
It's worth nothing to me though

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Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS
Short sell at 20k

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS

Nifft posted:

Who is going to want to spend a currency that inflates in value so quickly? So if it's not currency what is it?
Blocks in a pyramid

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS
If bitcoin investing were a game it would be hot potato

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS
I like to imagine that each sale at this point is from a slightly smarter person to a colossal imbecile

Dolphin fucked around with this message at 15:56 on Jan 17, 2018

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS

Moxxis Endowment posted:

Demand for the commodity. It really is that simple.
can't make bit bread without a bitcoin!

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS

Waltzing Along posted:

So wait. The reason video cards are so pricey right now (seem to be about 50-75% higher than they used to be) is because of this poo poo? Seriously?
Also responsible for an unfathomable waste of electricity

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS
I love investments that swing up and down 25% in a day, keeps you on your feet

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS

hailthefish posted:

You are technically correct. US Dollars and Tethers are both forms of Fiat Money. Currency has value because people agree that it should have value.
Fiat currency has value because it's enforced by a government. If you damage someone's property any pay them in dollars the debt is considered settled. If you pay them in bitcoins they can sue you and demand real money. If they demand bitcoins instead no one is going to make you pay them in bitcoins.

If a court orders you to pay someone and you don't, they can issue a warrant for your arrest and put you in jail for contempt of court. Money has teeth, bitcoins don't

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS
I'm so stoked for deeply discounted graphics cards so I can really step up my deepfakes

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS
https://www.youtube.com/watch?v=UbqecKr-2c0

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS

same

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS
Jerry, everybody's selling something! We'll sell nothing.

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS
you know when you really think about it bitcoin isn't such a bad word.

you have bit, which is like a small amount of something, and coin, which is always good

so small amount of coins, like if you're broke

wait it's actually really bad

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS

seems legit

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS
After this massive plunge I think it's unlikely the starry eyed public is interested any longer, so I don't see how this pyramid scheme doesn't collapse entirely in a couple weeks

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS
Or is it the same retards just trading these things back and forth forever like coprophiliacs

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS
(Goes down 30%) January dip! (Goes back up 8%) See it's on its way back to the top!

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS
50 people have marbles. They all believe their marbles are worth a poo poo ton of money so they hold them. On a daily basis about one person exchanges a marble for some amount of money with a guy who just outbid a smarter guy.

On day 1 a marble goes for $1000
Day 2 $2000
Day 3 $3000, etc.

On day 1,000, everyone holding a marble has purchased their marble from one of the original marble holders. Marbles are currently $1,000,000. Everyone's a millionaire. "Market Cap" 50M

Guy 1 bought his marble for $1k, sells his marble. He makes $999k pure profit. Buyer spent 999k

Guy 2 bought his for $20k, tries to sell his marble but there aren't many buyers so he settles on $750, walks away with $730k so he's pretty happy.

Guy 3 bought his marble for $720k and is extremely nervous so he tries to dump his marble. There aren't any buyers. He manages to get someone to bite for the fantastic bargain of $372k. He loses just a lot of money.

There are now 50 people holding an egalitarian distribution of theoretically $18,600,000, "Market Cap." They all thought they were millionaires but marbles actually are only good for putting up your butthole and no one's interested in that recently for some reason. Not for $372k anyway. After a month of decreasing volume the price drops to 35¢ and 42 people lose a poo poo ton of money. They gave away let's say $14,000,000 to people who all believed in marbles.

The 42 people sigh and put their marbles up their buttholes. It feels like home.





You can't put bitcoins up your butthole.

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS
The moral is the sooner you get out the higher your odds of getting away with someone else's money.

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS
when it hits $20.00

"don't worry, bitcoin always does this"

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS
Walls are for securities with value, Bitcoin has no value

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS

Fanatic posted:

I suppose you could argue that the stock market's 4% is worth way more.
More than crypto??? Do you even know how a blockchain works?

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS
Why would you cash out when you know that Bitcoins are their own reward smh

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS

uXs posted:

Wondering where the real floor is. Will it stop at an actual number, or drop all the way down to basically zero?

Hell, it could even go back up for all we know.

Kinda regretting not buying in 2 years ago and selling at 20k, but hindsight is 20/20 and there's no way I would've accurately predicted that I should hold until 20k and then sell. And it would probably have been stolen anyway, so whatever.
The floor is 0, stocks have floors because they represent companies that own physical objects

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS

uXs posted:

Ok sure I meant floor as in what the absolute lowest point will be.
Hopefully 0 but probably some non-zero number that speculators think is a bargain. It's literally impossible to logically estimate

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS
If they really wanted a private currency they should have just locked the value at $1 and tracked it via blockchain. And no mining unless the mining is payed for via science experiments or something. But no, instead it had to be really loving stupid.

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS

comedyblissoption posted:

the first problem with your suggestion is why shouldn't you just use USD

the second problem with your suggestion is isn't that illegal to create a token to get around financial regulations that you can redeem at a fixed amount with USD
1. because paranoia
2. I don't know

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS

Sten Freak posted:

:what: You can buy many, many stocks that pay dividends. Some don't. A company that doesn't pay a dividend either chooses not to so they can invest back into the company (including buying back outstanding shares), or because they cannot afford to because they are failing. A company that once paid a div and doesn't today is probably not in a good place fiscally.

Any stock listed on a major exchange is required to produce gobs of data not limited to but including a balance sheet. You can see exactly what they did in sales, paid in taxes, EBIDTA, etc.
Well... not exactly.

Companies are obligated to reinvest their earnings in company growth or into dividends and buybacks...

BUT

Majority shareholders also often can and do elect themselves into positions that pay a poo poo ton of money. So like they can be CEOs or CFOs are whatever and choose to pay themselves whatever is "fair."

So like you can make yourself a CEO and pay yourself a poo poo ton of money and invest the rest into growth and ignore shareholders. Which does benefit shareholders, but shareholders aren't necessarily owed dividends or stock buybacks.

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS
I make all of my investing decisions based on how much carfentanil I can safely acquire over the internet

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS

let it mellow posted:

goatse is a bitcoin. WTF!
no goatse on page, my life is a lie

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS
wtf it won't even let me buy 50

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS
is there any reason why stealing bitcoin should carry any more repercussions than like... stealing warcraft gold.

especially if it doesn't involve violating any computer security laws

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS

Waltzing Along posted:

I just took a poop in my computer and then a bunch of pages came out of my printer. It's just the word Tether printed thousands of times in brown.
brownbacks are practically worthless. you're looking for goldbacks. what did you eat?

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS

ynohtna posted:

Bitcoin: can very greatly.
fixed that for you. bitcoin is always very greatly.

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS

this is totally normal and has happened many times before and it will go back up to 100,000 per butt in no time at all probably later this day

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS
imagine buying a bitcoin

Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS
scott adams is bad tho

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Dolphin
Dec 5, 2008

by Jeffrey of YOSPOS
Bitcoin definitely overshot it's real value a bit and it's in the middle of a correction. No worries though, it'll stabilize once it hits about $1.50 again.

It didn't even overshoot that much if you look at its price logarithmically.

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