Bitcoins

[Zilmatic]

Surprised there isn't a thread about Bitcoins/Cryptocurrency, anyways anyone here into it? I myself originally only used 1400 into LTC and made over 3g's profit after all the fees and shit. If anyone is interested I can add more info/links about bitcoins/cryptocurrency.

[shiftdrift]

get a real job. /thread

[Zilmatic]

^Lol, this shouldnt be anyones main source of income...

The True Value of Bitcoin: What You Really Need To Know - YouTube (http://www.youtube.com/watch?v=Cs6F91dFYCs)

[NAIRB]

I have always found bitcoins interesting, post up some more links/info.

[zerodameaon]

I have had some PMs back and forth with some about it. It is seeming more and more that altcoins are what to get into. I made about 700 bucks off $80 one night around thanksgiving off litecoins. With how volatile these things are its nothing to bet your life savings on.

I also mine TRC(with 3 ASIC) and XMP off my CPU.

www.btc-e.com is a good exchange for multiple currencies.

[BoostSlideWayz]

The more efforts made to eliminate us currency the more control the gov has over our funds.. I know i sound like some conspiracy theorist nut but they really do want to eliminate the dollar. They want it to be 100% electronic transfer. There are many reasons why its bad but for the most part im not going to get into assumptions because i know alot of people dont like conspiracies.

[zerodameaon]

The US govt wants more involvement with crypto$, they may not show their true colors yet. If you look at what banks are saying(the people who really run the show) they want to make all the money they can and crypto is looking better and better.


Also its best not to keep your money in an exchange, take it out and keep it in a wallet on your computer(with backups in a few spots) or a paper wallet in a firesafe.

[Zilmatic]

Within that last half of THIS YEAR there was a significant jump in LTC (Litecoins) it was just under 2.50 usd, and last month it peaked at 47 usd... Doesnt take a math genius to see if you invested at the right time you would of made a killing. IMO just use money you would could afford to lose.

[zerodameaon]

At what point did you buy LTC? it seems like you bought it when it was on the rise.

[PeaceOnesxWai]

Interesting but skeptical. I saw what bitcoins were sometime ago but never thought it would actually be worth more value then purchased. Its getting out of hand how much each coin is worth but if there are idiots that believe its value and are paying for it, the coin will stay in value.

Also because of all the media attention right now, the value has risen immensely. To me its a big balloon thats going to pop once the government somehow get their hands on it. Its a new age ponzi scheme

[Black R]

OP, post up how you mined for bitcoins!

IMO, it's useful to pay for goods anon...

[zerodameaon]

Get that anonymous notion out of your head before it backfires in your face. These coins are not anonymous, anyone can track the blockchain, and with some more in depth forensics they can eventually track down locations based on IP address and such. Yeah its not as easy as looking at bank account names or credit cards etc but it is not anon.

[Frank_Jaeger]

Interesting but skeptical. I saw what bitcoins were sometime ago but never thought it would actually be worth more value then purchased. Its getting out of hand how much each coin is worth but if there are idiots that believe its value and are paying for it, the coin will stay in value.

Also because of all the media attention right now, the value has risen immensely. To me its a big balloon thats going to pop once the government somehow get their hands on it. Its a new age ponzi scheme
Cryptocurrencies are only worth what people are willing to pay for them. Nothing in existence has intrinsic value; it's ironic for you to call people idiots who're trading these things because you believe certain currencies have inherent value.

The government has explicitly stated bitcoins are a legitimate form of currency. Due to the nature of the network, no government is in a position to control or regulate the market. The most any government could do is outright attack the network, and I don't see that happening. Also please educate yourself on what a ponzi scheme is, and then educate yourself on the principle behind bitcoin and its introduction. Bitcoin is not a ponzi scheme. In fact no cryptocoin, even the obvious clones which have been cranked out to make a quick buck, are a ponzi scheme.

Get that anonymous notion out of your head before it backfires in your face. These coins are not anonymous, anyone can track the blockchain, and with some more in depth forensics they can eventually track down locations based on IP address and such. Yeah its not as easy as looking at bank account names or credit cards etc but it is not anon.
Mixing services are available. By default the use of these networks is not anonymous, however there are steps that can be taken to hinder or even stop tracking.

[zerodameaon]

Yeah but even with those services people were not using them because they thought it was anonymous. Silkroad users were one big chunk of those people who hid behind a false notion of it even though it says on bitcoin.org that its not anonymous. There is a lot of misinformation out there on these "walkthrough" and what is websites that are just plain wrong.

Here is a good example.
"The Bitcoin is a system which allows you to do anonymous currency transactions and no one will come to know about the payment or about all other info related to the payment, including who sent it, who received it, etc."
http://www.hongkiat.com/blog/bitcoin-questions/

Its really no more anonymous then cash once it enters the black market, in fact it might be less.

[NAIRB]

Yea, there is no way that they can be totally anonymous, how do you think they shut down silkroad. There is definitely a way to track you if someone really really wants to. Also I don't think anyone is really mining them anymore, it seams to have become to hard unless you have some ridiculously huge mining machine. I think the main way to make money now is buy LTC when the ltc/usd is low in price, wait for it go up in price, convert to usd, repeat.

[zerodameaon]

Silkroad got shut down mainly because the creator fucked up and hired someone to kill someone else. That and the guy was not really doing anything to keep his identity a secret.


Mini is still viable especially for LTC which is ASIC proof for now due to its memory demands. I can mine about one every 4 days with my old Nvidia(can't mine worth a shit) GTX 560TI. If you had a ATI video card of the same gen you could pump one out every two days or so. Also mining primecoins is still viable as those just rely on calculating prime numbers. Now I am not calculating power in to this because I used to do folding and have seen a drop in my power bill since I started mining coins as I have transferred a lot of the duty onto ASICs.

[NAIRB]

^ Did not know that about the the owner. Pretty dumb on his part.

And that is actually better than I thought, maybe ill try to mine some ltc an see how it works out.

[jamg]

crypto currency is going to be huge

china has already announced that they have a limit on US bonds. no more buying US debt, so the dollar is only getting weaker.

china is also dumping some of their resources into the mining of bitcoins.

what china does- the rest of the world follows.

[zerodameaon]

China as a govt is not supporting it, they are also not limiting it. I would bet a lot of the "OMG CHINA IS CRACKING DOWN ON BITCOIN" hype you read in american news is all to try and drive the price down so banks/rich people can scoop up as much as possible for as cheap as possible. Yeah a lot of Chinese people sold after this most recent news but it seems a lot more Americans did as a response to Chinas announcement then their own people.

[PeaceOnesxWai]

Cryptocurrencies are only worth what people are willing to pay for them. Nothing in existence has intrinsic value; it's ironic for you to call people idiots who're trading these things because you believe certain currencies have inherent value.

The government has explicitly stated bitcoins are a legitimate form of currency. Due to the nature of the network, no government is in a position to control or regulate the market. The most any government could do is outright attack the network, and I don't see that happening. Also please educate yourself on what a ponzi scheme is, and then educate yourself on the principle behind bitcoin and its introduction. Bitcoin is not a ponzi scheme. In fact no cryptocoin, even the obvious clones which have been cranked out to make a quick buck, are a ponzi scheme.


Mixing services are available. By default the use of these networks is not anonymous, however there are steps that can be taken to hinder or even stop tracking.


How is this not a ponzi scheme? Its made of out of nothing and sold to investors being told the value of the coin will be able to sell at a higher value later. They then sell to the next ladder of investors, which are bought at a higher value.. The ladder/pyramid continues down the line... Ponzi scheme

I understand what bitcoins do but they are using a peer-to-peer money exchange and taking that electronically exchanged money to pretend it as a real currency. What if the whole market panics and people decided to cash out? Where is the money going to come from? There is no value to the coin, no government backing, it has no secondary value. No bank in the world would take that currency and exchange you into fiat currency.

I only see this as a short term investment because of the popularity of it. There are still new investors buying into this so it will hold value or increase but at present it is close to its cap. I dont see it being accepted as real currency until somehow the cryptographic is worth some kind of value.

[Frank_Jaeger]

How is this not a ponzi scheme? Its made of out of nothing
I'm going to stop you right here and kindly point out all currencies that ever have existed and ever will exist are made out of nothing. Just because you print paper and call it money, doesn't automatically give it value; the market does. Even if a currency is backed by a commodity, the commodity itself has no backing. This is taught in basic college level economics classes.

and sold to investors being told the value of the coin will be able to sell at a higher value later. They then sell to the next ladder of investors, which are bought at a higher value.. The ladder/pyramid continues down the line... Ponzi scheme
What pyramid? Who's they? If you follow the market, it's blatantly obvious this is not how the exchanges work. Bitcoin was in the wild for YEARS before it really took off. Everyone had a fair opportunity to mine and get in on the action, but only a relative few did, because most dismissed Bitcoin or relegated it as a simple curiosity and nothing more.

I understand what bitcoins do but they are using a peer-to-peer money exchange and taking that electronically exchanged money to pretend it as a real currency.
The federal government of the United States of America has declared Bitcoin a real currency. It isn't pretend just because it's digital and not paper-based. Wrap your brain around this now. Some people have difficulty grasping paradigm shifts like this, but you need to do it. It's good for you. Also know that most USD exists only electronically; this isn't even an entirely new concept in that regard.

What if the whole market panics and people decided to cash out? Where is the money going to come from? There is no value to the coin, no government backing, it has no secondary value. No bank in the world would take that currency and exchange you into fiat currency.
If the market panics and people cash out, the price will crash, and if it crashes bad enough, it may be unrecoverable. This is a real possibility, I won't deny that, however this has nothing to do with ponzi schemes and everything to do with a highly volatile market that's still in its infancy. You can bet your ass that if Bitcoin survives to be widespread and implemented in major retailers, it's value is going to go up and stay there.

I only see this as a short term investment because of the popularity of it. There are still new investors buying into this so it will hold value or increase but at present it is close to its cap. I dont see it being accepted as real currency until somehow the cryptographic is worth some kind of value.
It is what I would consider a good short term investment and a long term investment. High risk of course, but really worth it in my eyes. As I mentioned before, it's already been accepted as a real currency, and already has "some kind of value." Once cryptocurrencies are more easily exchanged in the general economy, their prices will stabilize.

[zerodameaon]

I dont see it being accepted as real currency until somehow the cryptographic is worth some kind of value.

So you mean like Namecoin already is and possibly Primecoin in the future?

[Zilmatic]

OP, post up how you mined for bitcoins!

IMO, it's useful to pay for goods anon...

I never mined for bitcoins but I really regret not listening to my good friend who was into it a few years ago...

At what point did you buy LTC? it seems like you bought it when it was on the rise.

I bought it when it hit 12, god damn account verification took so long.

[PeaceOnesxWai]

bitcoins r cool

[Black R]

There are plenty of retailers accepting bitcoins, and more are implementing it every day.

It sure as hell sounds like currency to me.

[zerodameaon]

With real currencies you can purchase things with it, behind the bill its commodity is gold. Are you seriously saying gold does not hold value, because the whole world will value in exchange for gold.
So your saying real currency is backed by gold, well then the US dollar is not a good argument for saying what currency is.
FRB: Is U.S. currency still backed by gold? (http://www.federalreserve.gov/faqs/currency_12770.htm)

[kingkilburn]

What he's saying is he doesn't know at least half the shit he claims to know.

[kingkilburn]

And a currency is literally whatever you want it to be. Right up until the beginning of modern Japan they used rice as currency. We happen to have used gold, silver, nickel and such because those are things we held universally valuable.

[zerodameaon]

Look at parts of Alaska and many other countries. They buy stuff with cows, cows are not backed by gold.

[stevenrapids]

You all are taking what he is saying way too literal. Until you can use it as a currency to purchase the necessities of your everyday life in our society, it is simply a form of currency best used for investment, such as gold.

[zerodameaon]

You already can...
Green Ave Market (http://www.greeneavemarket.com/)
Bay Area Strength and Nutrition (http://www.bayareastrengthandnutrition.com/)
And these are just two examples of brick and mortar stores accepting it.

If you want to order your every day necessities online the list is pretty damn large.

EDIT: Ohh I forgot to add my personal fav.
http://www.sfnarasushi.com/

Sounds like currency to me.

[AFSil80]

I like what I've read about the bitcoin, but it just seems a little out of reach for me to use as a currency...and I'm sure with JP Morgan looking to put a patent on it, it's probably too late to do smart investing with it. I guess I'll just keep using the dollar until it crashes.

Then I'll get to activate my investments in lead, brass, and copper jacketing if you know what I mean.

[zerodameaon]

Bitcoin is not theirs to patent, they are trying to make their own version of bitcoin to cash in on this digital gold rush.
Even if they did manage to patent it I am betting the network would just shut down rather then have a bank steal ownership.

[jamg]

you can't patent bitcoin. it was invented by a japanese guy.

bitcoins are the only thing that is bought and sold in a true free market.

[zerodameaon]

you can't patent bitcoin. it was invented by a japanese guy.


There is no proof he was Japanese, or proof that he ever really existed for that matter. Someone or a group of people under the pseudonym Satoshi Nakamoto created bitcoins, then disposed of the name about mid 2010. I am betting the group that made them are still out there thinking up the next thing to try and throw in the controlled markets face.

[stevenrapids]

My whole problem is that you cannot use them in hand to hand transfer? atleast not to my knowledge. Simple fact, it is a currency, no argument in that. Isn't this essentially no different than wire transfer of funds? Without the involvement of a bank and relative anominity?

[240sx .25mile]

What does mining a bit coin mean? Does your computer make them? If anyone can make them then why do they hold value?

[zerodameaon]

There are hand to hand transfers via your cellphone and a wallet you setup or you can even print a paper wallet, put the money for an item on it then give it to the guy you are buying whatever from. Its pretty cool and they are also the safest form of wallet available.

As for mining your providing your processing power to more or less keep the network going. You provide the processing power to validate transactions and find the next block(where the info for transactions is stored) in the chain and as a reward the fees that the network charges are dived out to the people responsible for keeping the network going. That is really the simplest way to put it.

[kingkilburn]

Bitcoin in a specific incarnation of an idea. Crypto currencies should never EVER be patented or centrally planned and controlled. The strength of the idea is exactly that and inherent to it.

[atom]

In the past I mined bitcoins on quad ATI GPU's. Made some G's.

I really wish I had gone full out a few years ago like some other friends had done at the time. I would have had 35k+ more in my pocket. Oh well, missed opportunity.

For most people it's not even worth mining any more (or any cryptocurrency really) since custom ASIC's have taken over. Better off just straight buying and selling.

[zerodameaon]

Ehh ASICs can only take over SHA256 crypto coins. Ones that rely on Scrypt are still very much viable to mine for the foreseeable future.

Also this just happened. Dogecoin (http://dogecoin.com/)

[atom]

Well, my original comment was more along the lines of buying hardware specifically to mine coins. TBH I haven't been following coins too closely lately so my opinion might be out of date, but I just don't see the $$$ vs. just trading coins outright.

If you have a gaming rig or something and want to mess around, I'm all for it.

[kingkilburn]

At this point the investment in equipment takes so long recoup from mining that I wouldn't bother. Unless you have a free source of power and a few thousand(like ten) burning a whole in your pocket you'd be better served investing in trading.


Or open an online business that accepts bitcoin in payment.

[Frank_Jaeger]

Ehh ASICs can only take over SHA256 crypto coins. Ones that rely on Scrypt are still very much viable to mine for the foreseeable future.

Also this just happened. Dogecoin (http://dogecoin.com/)

I have 4 million doges and counting. Such moon.

I also have 3 7970s and 2 6850s. I'll be getting a couple more 7950s or 7970s soon.

[sleepyS14se]

oh my god this reminds me of the Hype about "Dinars"

read- Dinar - Wikipedia, the free encyclopedia (http://en.wikipedia.org/wiki/Dinar)


ugghhh not another one. lol

[zerodameaon]

I have 4 million doges and counting. Such moon.

I also have 3 7970s and 2 6850s. I'll be getting a couple more 7950s or 7970s soon.

So amaze, much dug. With a difficulty of 0 why not dig them. If they somehow gain any ground it could be a little bit of money.


Those cards are perfect for Scrypt coins. I thought about a Sapphire 6850 last night for 160 but I am afraid I will get it and it will be broken.

[coreyh]

people are already buying vehicles with bitcoins. not so sure on litecoins though.

so far the two automotive purchases were a tesla and a Gallardo (one of the last ones too)

and there are a few little boutiques near me and a little farther into l.a. that accept bitcoins. so they are making their way into the commercial sector. at least on the small scale for now.

[zerodameaon]

They were both still bought with the US dollar, the dealership never sees the bitcoins as a third party exchange converts the coin from the buyer into USD before forwarding it on to the dealership.

[coreyh]

didn't know that detail.

But that is hard for me to believe about the tesla. not saying you're wrong I just know that elon musk is all for doing everything in the modern age, hence why he got rid of dealerships, I figured he would've been all over cryptocurrency.

[zerodameaon]

It was some Lambo dealer selling both these cars and not Tesla directly who sold the Model S. Who knows though, maybe this popularity will bring the real Tesla into the game.

The Daily Dot - This 4chan user bought a Lamborghini with $200K in Bitcoin (http://www.dailydot.com/business/4chan-bitcoin-lamborghini/)

Yeah they still have a bitcoin pay portal but its really similar to how paypal operates for buying from something like ebay UK, they convert it to pounds and the person never sees the USD you paid with.

[coreyh]

I would think. I spoke with elon briefly at the store in santa monica about his ideals and he was talking about he wanted to move the industry into the technological age. cryptocurrency would be the biggest step.

[rustys13o_0]

So I had this whole spiel about how does one get into this intangible source of barter or the newest one that causes inflation to what trusts in god, and I hit the back button... I would love to buy a lambo ooorrr soup my s13!! Well if I'm using this digital triangle at the 8th power to produce USD, doesn't that mean cash is still unsurpassable no matter how inflated it'll become? Because apparently I still have to convert bit to dollar to buy a lambo. Unless my bigot of a salesman uses bitcoin etc to barter shortly before he converts them to USD to make his house payment... With his "credit" card.

[nekrodev]

Just got my 5GH/s miner in today after like 4 months of waiting. I wish I'd been mining w/ my GPU all this time, but I just kept putting it off.

Setup and running right now. It's hard to tell how it's trending so far, only been about 20-30 mins, but it's looking pretty solid.

[zerodameaon]

My friend wants to preorder a 200gh/s mining contract for like 900 bucks. You could make a bit of money at current difficulty. It says they will not be ready to start mining till about april, by then you will be losing a significant amount of money and none of these companies ship on time. If anyone has been thinking about a contract there is a reason these guys are not mining for themselves and instead selling contracts.

[nekrodev]

My friend wants to preorder a 200gh/s mining contract for like 900 bucks. You could make a bit of money at current difficulty. It says they will not be ready to start mining till about april, by then you will be losing a significant amount of money and none of these companies ship on time. If anyone has been thinking about a contract there is a reason these guys are not mining for themselves and instead selling contracts.

I'm gonna run my 5 GH/s one for a month or two and make sure I can make my money back on it. If it works, I'm gonna invest in a 25 GH/s one. Anything more than that is out of my price range right now.

[shiftdrift]

http://www.theguardian.com/technology/2013/dec/18/bitcoin-plummets-china-payment-processors-digital-cryptocurrency

[Frank_Jaeger]

Buy buy buy!

[rustys13o_0]

Bitcoin plummets as China's largest exchange blocks new deposits | Technology | The Guardian (http://www.theguardian.com/technology/2013/dec/18/bitcoin-plummets-china-payment-processors-digital-cryptocurrency)

Thank you... I dont know the source but the comments are smart haha.

DIGITAL PYRAMID, someone is killing this virus and good. Its mocked up, stay away. It reminds me of buying an android game and buying the gems or coins to advance your way through it.. :nono:. Governments make money possible, banks fdci protect our money. I HAND currency to merchant, cash. o_0

[atom]

Buy buy buy!

Eh, there is nothing on the horizon that looks to propel bitcoins value the way China;s interest in the currency did, so IDK about that.

[nekrodev]

Yeah, shit sucks. Average value on MtGox went down from like $650 low to $475 :(

[kingkilburn]

People using a currency make money happen and nothing else. Period. The only reason governments and banks sanction and protect one currency versus another is to have control and make a profit.

Currency and capitalism in general is ours not banks' or governments'.


P.S.
The whole point of a gold standard or something like crypto currency is to put the control in the market not in the hands of a moneyed few.

[Frank_Jaeger]

Eh, there is nothing on the horizon that looks to propel bitcoins value the way China;s interest in the currency did, so IDK about that.
Already back up to 685 on Mt Gox. Would've been a good short term investment.

[S14DB]

I can't wait to get my first MegaDOGE.

[Frank_Jaeger]

I can't wait to get my first MegaDOGE.
wow
such megadoge
very dogillionaire
wow


to the moon

[zerodameaon]

wow
such megadoge
very dogillionaire
wow


to the moon

40k DOGE

Much 20 bucks. Wow

some beer

much half tank gas



------------------
Failed attempt.

[Frank_Jaeger]

I started mining doge within the first few hours it released, and then stopped after I got 3 million. I should've kept it going lol.

[zerodameaon]

This difficulty increase really sucks. But I did fix my second video card that died a few months back, the fans locked up and the fan controller disabled the card completely. Took them apart, oiled them up, and now I am back in business warming my room very nicely.

[nekrodev]

This difficulty increase really sucks. But I did fix my second video card that died a few months back, the fans locked up and the fan controller disabled the card completely. Took them apart, oiled them up, and now I am back in business warming my room very nicely.

Seriously. When I did my calculations back in August when I first ordered my miner, I was going to be able to make about $100 a month, maybe more. Now, I'll be lucky to get half that.

[zerodameaon]

With one video card I was mining about 700 doge an hour a few days ago, now with two video cards I am only able to max out at about 500. Still getting more DOGE then if I was doing any other coin.

[zerodameaon]

http://humorplanet.plcdn.com/wp-content/uploads/2013/12/pregnancy-memes-1.7-560x468.jpg

Just thought that was funny.


So last night a few people had a very bad night on Cryptsy exchange. There was a error with the calculator and people thought that DOGE was skyrocketing so they were trying to buy in for outrages BTC prices. I was in the process of selling 197 DOGE to fill a buy order for 1.97 BTC. The site crashed so I could not profit off of someones error but some lucky dude out there got a lot of money off a very little bit of DOGE.

[zerodameaon]

So Doge is doing something. I was surprised to see how much I now have.

[Frank_Jaeger]

You need to start looking at DOGE/USD and not DOGE/BTC. DOGE/BTC appears to be increasing in value, however DOGE is really only holding its value to USD while BTC falls. I.e BTC goes down, DOGE goes up, yet relative to the dollar DOGE hasn't moved. Reason for this is arbitrage. DOGE can now be bought directly with USD from Vault of Satoshi. Overall DOGE has gone up, and will continue to go up, however the recent rise in DOGE/BTC isn't as much of an indicator as it used to be.

Also BTC is down. BUY BUY BUY.

Also I sold my 4 million DOGE about a month ago to acquire an LS1 T56 Z28 Camaro after the KA threw a rod. Since then I've mined another 1,050,000DOGE. I'm about to build another rig.

[240sx .25mile]

im so glad I read this post back in 2013. bitcoin hit 6k today.

[2muchboost]

And have you seen the conservative estimates from movers and shakers on Wall Street and such....I know a few people who got involved early on and they are living a completely different life now. Congrats to anyone who took the leap back in the days.

[1Badhatch]

Funny thing is I haven't been paying attention since December of last year waiting for the pop from the halfing last year I have 3 Bitcoin when you said 5000 dollars I was like na he's lying I just checked my kraken account man today just turned into a good day

[240sx .25mile]

Funny thing is I haven't been paying attention since December of last year waiting for the pop from the halfing last year I have 3 Bitcoin when you said 5000 dollars I was like na he's lying I just checked my kraken account man today just turned into a good day


now you can buy all the 240 parts you want!!! hahahaha

And have you seen the conservative estimates from movers and shakers on Wall Street and such....I know a few people who got involved early on and they are living a completely different life now. Congrats to anyone who took the leap back in the days.

10k by the end of the year is what I've read.

[anthony_240]

I’m still kickin myself in the ass about this, I bought like 20$ worth about 4 years ago, and although it turned into 200$ I wish I would have not been such a bitch and spent like 1g instead lol


Sent from my iPhone using Tapatalk

[hatch4life]

I wish I would have not been such a bitch and spent like 1g instead lol

don't worry, you'll be saying the same thing in a year

[hatch4life]

I'm interested in when the cap of bitcoins (21 million) available comes.. then who knows what it will go to

I think we are around 17M currently in rotation right now

[tougefactory]

What do you guys think of Ripple/XRP? Supposedly its suppose to skyrocket.. But they say that for almost every cryptocurrency out there. lol

Good investment?

[hatch4life]

What do you guys think of Ripple/XRP?

It's been on an uninspiring downtrend,

It 's possible it may skyrocket sure, but it's unlikely

Nothing is going to skyrocket like bitcoin has because they're simply not as popular (obviously), not enough people willing to put their money in it, there is a reason you only hear investors talk about one cryptocurrency

that being said I do own ripple and several other altcoins but I don't expect much from them, more of a gamble

[2muchboost]

I agree, bitcoin will be the popular vote. However, I think Ethereum is a good investment as well without the price tag at the moment. Again, will not be as popular as bitcoin and in return there isnt likely going to be a huge spike in pricing but it has been doing well and holding strong.

[Darri]

I am new to bitcoins, but I've spent some time studying the subject and it is a very curious topic for me atm. I do believe that bitcoin will grow and that it is a good investment. They say there will come a time when we will be able to buy properties using bitcoins https://tranio.com/world/analytics/how-the-blockchain-and-distributed-ledgers-will-transform-the-real-estate-market_5405/ so yeah, I believe it'll get even more popular than it is already. Funny how things change, nobody believed in cryptocurrency at first, now botcoins are all over the Internet.

[anti tyler]

I am new to bitcoins, but I've spent some time studying the subject and it is a very curious topic for me atm. I do believe that bitcoin will grow and that it is a good investment. They say there will come a time when we will be able to buy properties using bitcoins https://tranio.com/world/analytics/how-the-blockchain-and-distributed-ledgers-will-transform-the-real-estate-market_5405/ so yeah, I believe it'll get even more popular than it is already. Funny how things change, nobody believed in cryptocurrency at first, now botcoins are all over the Internet.


Bitcoin specifically will only be as valuable as people let it be.

[turbronegro]

I acquired 50 bit coins when I was deployed in June 2013. It was a considerable chunk of change but my supervisor at the time literally forced me to. Well not forced but he was convincing, he was a selfmade millionaire and knew how to make money. I can honestly say it's the best $5200 I ever let go. I check them weekly but I really don't know what to do but sit on them.To me all I have is 5k to lose if it goes sour. I've spent a lot more on that buying and driving janky old ugly luxury cars lmfao.

I know the IRS see it as property so you'll be paying capital gains tax on them eventually.

[turbronegro]

Oh and recently, my old supv has been going on about Ethereum as the next thing.

[hatch4life]

I acquired 50 bit coins when I was deployed in June 2013. It was a considerable chunk of change but my supervisor at the time literally forced me to. Well not forced but he was convincing, he was a selfmade millionaire and knew how to make money. I can honestly say it's the best $5200 I ever let go. I check them weekly but I really don't know what to do but sit on them.To me all I have is 5k to lose if it goes sour. I've spent a lot more on that buying and driving janky old ugly luxury cars lmfao.


At this all time high why wouldn't you sell one bitcoin to get your money back doubled and let the rest ride? What price would make you start to sell off?

[turbronegro]

At this all time high why wouldn't you sell one bitcoin to get your money back doubled and let the rest ride? What price would make you start to sell off?

Good question. I don't know if I'm just being greedy or the fact that it's worth so much now and I'm not doing shit about it is fun. I do like to test my willpower. I'm 28 and haven't ever had a sip of alcohol, I have no real reason not to drink other than it's kinda fun not doing it.

[anthony_240]

2 days ago it went up 1,000
And this past 24hours it’s up 5,000! This thing is spiking


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[e30gangsta]

Im on the fence about dropping another 5k into it. I think im going to wait to see what happens with the nasdaq thing.

[anthony_240]

I don’t think that would be a smart move right now, seeing as how it spiked like crazy, chances are it will drop a bit but then again it’s been steadily increasing over the years so you never know


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[anti tyler]

Isn't it great how theoretically you could join forces with an incredible amount of people, to boost a different currency into population and value?

[turbronegro]

Yeah..... might have to jump off this ride at 20k if it gets there lmao

[!Zar!]

Why is the lastest hack of $70mil bitcoins a talking point if the bitcoins are secure?

[LoneStarSilvia]

I've been looking into joining the fry with cryptocurrency, better late than never I suppose?

I'm getting cold feet about Bitcoin right now though, that was one hell of a spike. I'll be looking to throw so funds towards Litecoin and Ethereum.

[slider2828]

Why is the lastest hack of $70mil bitcoins a talking point if the bitcoins are secure?

Its not.... because they didn't hack the coin, they hacked an exchange. Exchanges is like a market place like our for sale section, but they hacked your password and stole your account.

[tonee]

wonder how much $$ the OP has from crypto now hahhaha

[simmode1]

wonder how much $$ the OP has from crypto now hahhaha
I have nothing of value to contribute but I just thought the first 2 posts are hilarious AF 4 years later, after ppl have become millionaires off this...lol
Surprised there isn't a thread about Bitcoins/Cryptocurrency, anyways anyone here into it? I myself originally only used 1400 into LTC and made over 3g's profit after all the fees and shit. If anyone is interested I can add more info/links about bitcoins/cryptocurrency.

get a real job. /thread
Lol:Ownedd:

[Almighty So]

Not much for bitcoin as the hype train seems to be pretty full at this point.
Looked into potcoin as medical marijuana continues to boom, they may adopt crypto currency pretty quickly.

As for farming, I don’t believe money grows on trees. (Nor is it developed out of thin air from mathematical algorithms.)
NSA developed crypto currency and bitcoin was rolled out to get the public comfortable with it.
There will be a government orchestrated crash of the crypto market, and then you will see westernized (Rothschild) banks release their own versions that can be backed and traced by the banks.

[turbronegro]

Whew! This crash though

[Walperstyle]

Yet another crash, 'Oh no, the sky is falling'

LOL, notice how its recovering. ...again. It does this.

Bitcoin is a currency for people, to do a transaction with each other, without having a 3rd party (asshole bank, government) getting involved. It is Free Market Capitalism in its pure form. No masters, no rulers, and the ability to determine the value of the exchange.

More and more people are waking up to the realization that Fiat currency is a huge pyramid scheme and the central banks get rich printing fake paper money and promote a culture of debt. Bitcoin is putting an end to this and people are starting to wake up to this.

[LoneStarSilvia]

South Korea giving the world that long dick.

[lunchmeat]

Yea, they giving my wallet the deep stroke. 30% loss within a day.

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