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Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

I made 25 dollars trading bitscoin last week, they're in my bank account now

Buy low sell high, it's my motto :coal:

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Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

CopperHound posted:

I'd rather use the Big Mac index when comparing currencies. If I can buy 1500 Big Macs with $6000USD, how many can I buy with 1 bitcoin?

None but you can buy Burguer King

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

Nocheez posted:

That's a great *if*, but *if* I bought it when it was at $6000 yesterday it would be worth $5500 today. What a great investment, only losing a little over 8% of its value in 24 hours!

Exactly

So buy NOW before it goes up again!

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

You noobs just haven’t heard of dollar cost averaging, an advanced technique we traders use to minimize losses

Basically you just buy bitcoin all the time, up or down

Every paycheck, buy bitcoin

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

Goodpancakes posted:

Bitcoin manages 3 transactions a second? Is this as bad as it sounds?

Only temporarily because they are about to activate new protocols that will enable it to process an incredible 7 operations per second

Next gen Blockchain tech such as Ethereum is working hard to achieve a theoretical 15 operations per second! This is obviously far in the future but you can see how amazing this new technology is

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

I’ve lost all my bitcoins, since I lost my Google Authenticator app (switched phones) and I can’t access the exchange I’m using. Unless I send them photo ID and a lot of info. This is quite a self own!

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

gently caress! Bitcoin keeps going up! Why haven't I bought more bitcoins!!!!!

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

GODDAMN IT THIS poo poo KEEPS GOING UP

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

Minimalist Program posted:

Bitcoin update my bitcoin stock is up 12% today and I've made 500 dollars or, roughly, 50 pizzas.

Wow you must be very dumb because this is going to crash any minute now

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

Time to purchase more ethereum coins, as it has just become much more rare than before!

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

Uranium 235 posted:

Nah, ethereum was actually recovering (slowly) from the $15 drop it took from the parity news. What happened with bitcoin was separate.

I hate myself for understanding all the words in this sentence

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

Minimalist Program posted:

I made like 3k on bitcoin.

Yes but is it in your bank account, or just floating somewhere in the cloud

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

No Hope posted:

Hey guys is now a good time to purchase bitcoins? I have almost 1,500 bucks saved up in the bank and I'm ready to pull the trigger.

It’s never a good time to buy bitcoins

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

jimmyjams posted:

how come noones made rear end pennies yet

I will make an rear end Pennies crypto at the slightest provocation

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

FogHelmut posted:

whats their cost per trade

edit - the more people use bitcoin, the more expensive it becomes to use. its pretty much a stupid and useless design

No, the more SECURE and tamper proof it becomes, you idiot!

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

Remember when that guy deleted 300million worth of virtual pogs? Lol 😝

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

mojo1701a posted:

This is what I still don't understand about Bitcoin: if it's a currency, then it's a terrible one because its value keeps changing (Imagine not knowing if your dollar will be worth $1.20 or $0.50 tomorrow).

If it's a commodity whose value comes from speculation, then what does it do? Gold, oil, wheat, etc. does something that people will pay for.

It STORES value you idiot

If we all agree on the price then that’s how much it’s worth

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

plape tickler posted:

I've tripled what I put into bitcoin in May. I should probably cash out.

WRONG

you will hold forever

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

mojo1701a posted:

Calm down, duder. If you can't explain it to me, how are you going to explain it to the average person?

I don't disagree that it's a store of value. What I'm having trouble understanding is how it's better than, say, the US dollar (or the loonies in my pocket right now) as a medium of exchange.

I will NOT calm down, you’ve awakened the bitcoin beast!!!

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

I made like 80 dollars from bitscoin and they’re in my bank account as cold
Hard fiat, yet I’m extremely worried about taxes and what the gently caress I have to do or maybe I’ll just ignore it and wait for the feds to hunt me down like a dirty animal

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.


These are either just statist shills astroturfing against bitcoin or isolated cases which clearly won’t happen to you, were you smart enough to join bitscoin revolution

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

Uranium 235 posted:

it could have something to do with the Bank Secrecy Act since $10,000 is the threshold that banks are required to check ID and generate a report. coinbase isn't a bank but they still have to comply with anti-money laundering laws.

edit: hmm actually that doesn't make sense, if you can withdraw $10k then obviously they aren't worried about that

Uhh pretty sure withdrawing 9,999k a day for 6 months is “structuring” and specifically defined as illegal

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

Gumbel2Gumbel posted:

He lost $11 though

No, BITCOIN lost 11 dollar value which instantly shot up

if he held the coins he would be richer, so he's an idiot

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

jonathan posted:

I was listening to Joe Rogan podcast from a few weeks back. He had Peter Schiff (of Schiff Gold) on as a guest and while his push for libertarianism is a little hard for my tastes, he made some good points about some company he is hocking.

goldmoney.com seems to be pretty neat. The money you put into it is used to buy and store actual gold secured by brinks security. You can have the gold stored, or shipped to you, and you can transfer the ownership of that gold to others as a form of Visa backed payment using a debit card. He says that he doesn't have faith in paper money lasting forever, but cryptocurrency isn't the answer. Going back to gold could be a very safe bet especially if more people start using it for currency again.


His explanation for bitcoin and Ether was pretty good. He basically said that they're very bad investments that some people will make a lot of money on as long as there are bigger fools than those people making worse decisions.

That's cool because that very same company lets you buy and sell cryptos, specifically Bitcoin

https://www.goldmoney.com/support#buy-sell-cryptocurrency-what

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

Manic Technophile posted:

Why Costa Rica?

Less taxes

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

Mods plz change title to Bitcoin is at $100,000. WTF!

Just saving you some time :agesilaus:

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

I just exchanged 100 dollars worth of bitcoins into amazon gift card credit - 10 dollars shaved off by fees and transfer, but at least I own Pandemic legacy season 2 thanks to internet funny money

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

scott zoloft posted:

actually maybe it won't hit 10k

༼ つ ◕_◕ ༽つ Bitcoin take my energy ༼ つ ◕_◕ ༽つ

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

Han Solomon posted:

what about other cryptocurrencies like etheriumcoin are they trash and dumb too?

Ethereum gained ten times its value this year! Buy buy buy!

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

You gotta remember bitcoin was dreamt up in a feverish dream during the 2008 financial crash.

Last week a very normal friend* told me he went 1,000 deep into bitscoins because of Trump and the dollar instability and it’s always good to diversify from the possibly weak USD.

* He has a wife and daughters and everything

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

Wulfolme posted:

I think the real question is, if the bitcoin bubble pops will anyone trust the word 'blockchain' ever again? I feel like a true understanding of the technology eludes most people, and the buzzwords around bitcoin will go down with it. I can see the well being poisoned for the entire idea of cryptocurrency after investors lose the money they put on bitcoin, even if no other coin goes down with it.

What do you think?

Bitcoin already crashed in 2014

You can’t underestimate stupidity, and if bitcoin is stronger because of stupid, well then it’s the most powerful force in the world

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.


Is this the famous Bitcoin I hear about? Digital money? Doesn't look too impressive to me

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

935 posted:

If I had bought one Bitcoin last week I could sell it today and have a cool thousand bucks. gently caress goons past, now and forever.

I bought 500bucks worth of bitcoin a few months ago, I'm glad I don't listen to goons as I am about to buy a new Nintendo Switch

Is bitcoin trash? Maybe but I got hard cash in my hand, merry buttsmas

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

It's crashing back down! SELL SELL SELL! Bad times are here again!

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

Tenzarin posted:

Wheres a link to see it go up and down?

https://www.coingecko.com/en

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

Uranium 235 posted:

holy lol at this crash

No.... Noooo.... My Nintendo Switch!!!

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

fruit on the bottom posted:

Sure will. Though I’m reading the Grant biography that came out recently so I probably won’t even get there before 2018.

Also I was under the impression that the AI would be more the “Rocco’s Basilisk” type and less so the more pragmatic ones actually in use.

I'm guessing wrong thread but this sounds interesting too

Are you trying to say Bitcoin is an AI ??

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

Wulfolme posted:

i lust for bitcoin death

Same.... so i can buy MORE 😈 💯 🔥 💰

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

Bardeh posted:

https://www.reddit.com/r/Bitcoin/comments/7gi55s/dont_invest_recklessly/

A surprisingly self-aware and sensible post on r/Bitcoin!

E: I can't say as much about some of the comments though






“Bitcoin is experimental, and it is probably imprudent for someone who is not a true believer in the soul of Bitcoin to invest a lot into it.”

You fuckers don’t believe in the soul of bitcoin

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Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

Uranium 235 posted:

You can just use Monero for buying drugs, or use Monero to 'clean' bitcoin (make it so that your identity isn't tied to a bitcoin address).

Oh

That’s why it’s doubled in value, nice going, drugs

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