/biz/ - Business & Finance

self-bumping

What do you intend to use the BTC for once you have it?

>>503224
$500

Buy one full bitcoin right now.
Transfer it to cold storage, encrypted wallet.
Make 3 different copies of your key. Bury one under the tree in the backyard. Put one in a fireproof safe under your bed. Put the last one in a safe deposit box with instructions in case of your untimely death.

Use the other $120 to play in altcoin land.

Your welcome.

Just give your money to some scammer on the street. Saves you a lot of trouble.

>>503311
>2014 and doesn't know about bitcoin

>>503319
>2014 and doesn't know about bitcoin

>>503319

This is me. Sorry for sounding like a Newfag, but what the hell is Bitcoin and why should I be intradasted?

>>503343
Digital commodity. People who got in early won the lottery, but it's too late now.

>>503343

Bitcoin is a protocol designed to send value over an open network.

Similar to the protocols for email or the internet and like those protocols saying "bitcoin is just better cash" is like saying "email is just better mail" and you will completely miss the potential.

I like to think of it as digital gold. It is scarce, durable, transportable, divisible, fungible, and could be the best store of value ever invented.

It is completely open source, you can read the code here:
https://github.com/bitcoin/bitcoin

You can read the original white paper here:
https://bitcoin.org/bitcoin.pdf

>>503357
>and could be the best store of value ever invented
ahahahahahhahahaha
....


AHAHAHAHAHAHAHA

it's always a good time to buy

Dear anon>>503401 ,
Can you name a better performing asset over the last 5 years?

...didn't think so.

>>503452
pic related

>>503468
Graph needs updating.
>past 5 years
Yeah, they won the lottery when it got grossly overvalued. Look at what it's been doing this year.

The amount of cash needed to raise the market cap like that again would be enormously huge. You're delusional if you think that pattern is going to happen again.

>>503468
>40.91x

The Mt. Gox bots really did some great work in 2011.

>>503224
I suggest wait for it a little bit, there's a massive campaign right now to bring the price down, watch closely /r/buttcoin and /r/reddit when the troll/shill posts start getting scarce then buy, this is how the shill wave has been working since its inception.

>>503224
>price 350 and dropping like a stone
>russia just officialy banned cryptos

crypto is dead, bitcoin will drop further and market will be dead

better buy gold

>>503479
nope, as long there's a darknet market everything's cool, God Bless them.

>>503477
It's not so much a "campaign" as just natural market pressures. People sell (either directly or by buying goods with it) driving down the price yet miners have no incentive to stop mining and increasing the supply, so the price is driven down even more. It should stabilize at some point but don't think that means a sudden jump to 10k USD/BTC.

>>503483
There's organized campaigns, you must be naive to think that someone hasn't been organizing campaigns to manipulate the price, take a look at /r/reddit and some irc channels, hey as long as you can keep an eye on them and short/go long I'm fine with it since it's pretty easy to see the trend. But you must be really naive to think that there's not people manipulating the market . Same as whales manipulate the altcoin exchange.

>>503479
>crypto is dead
confirmed buy signal.

Why not? If you lose it; same difference to a roll in roulette.

>>503479
>russia just officialy banned cryptos
no, it's not

>>503492
>1 bet with 49% chance at a 2:1 return
>1 bitcoin, owning a none-dilutable share of the most efficient value transaction network.
>same difference
Don't think so.

>>503493
http://www.coindesk.com/russia-proposes-fines-bitcoin/

it's done

>>503497
>pic related

>>503495
>implying bitcoin is the most efficient value transaction network
Even if cryptocurrency becomes a standard method of transferring value, it won't be bitcoin.

>>503497
>it's done
not yet

>>503499
Name one system more efficient and secure than bitcoin.

I'll wait.

>>503505
There are already plenty of altcoins that are both. All it will take is for an entity that has high name recognition (e.g. a country or major corporation) to create its own that incorporates all the improves that have been made. Bitcoin is old.

>>503509
>Bitcoin is old
Bitcoin hasen't even released version 1.0 yet

I think your delusional.
There is only one company left that could undermine bitcoin by releasing an alt and that is google and only if they do it perfect.

With paypal integration bitcoin adoption hasn't been higher and it has a lot of room to grow when it gets listed on the NYSE and NASDAQ.

But if you think its going down forever, please short it. You can at bitfinex.

This is file sharing revolution all over again.

I think that if you've got confidence in Bitcoin now would be a good time to get in. Its low as fuck, might actually be the first year that it's finished lower then it began (dont quote me on that). Could die outright, go down to a new floor, or rise back up to the $500-$700 range, who knows.

>>503514
>>503295
>bury your key under the tree in your backyard
Yeah, I'm the delusional one. Alright.
>only one company
Tell yourself that. Keep in mind there's nothing to stop countries from doing it too (imagine a Fedcoin).
>going down forever
I never said that. I said it would stabilize at some point (at least until it's replaced). What I said won't happen is the ludicrous 10k USD/BTC that shills throw around.

>>503515
someone gets it

>>503520
Long term holder, now is a great buy but we do have a risk to break down into the $200 with so much time between here and regulation in January.

>>503522
>Fedcoin
top lel, lost my sides
Just for the record, I think 10k USD/BTC is extremely unrealistic.
Bitcoin will be in the millions by 2020, the fiat system doesn't have a snowballs chance in hell.

>>503491
Why do people keep saying this? This is the stupidest thing I've ever heard. If something is dying its a terrible time to buy.

>>503526
>Bitcoin will be in the millions by 2020, the fiat system doesn't have a snowballs chance in hell.
LMAO! ahahahha

Oh man someone save this comedy gold.

>>503532
because bitcoin dies every year according to the idiots who think they are doctors that can declare a working system dead. pic related

>>503533
Markets that will be impacted by bitcoin:
>All of them.
This is my argument, whats yours?

>>503540
>>503532
this is pic related sorry

>>503540
>working system
Confirmed for retard.

>>503544
bitcoin is working.
This isn't an opinion, it is a fact.
look you can watch the fiat fail here:
http://fiatleak.com/
>confirmed dumbass, you are

>>503558
OK Yoda. You win. Bitcoin hasn't been one of the absolute worst "investments" this year shedding 70% of its value over 10 months and fiat hasn't been around for thousands of years.

The facts are that if Bitcoin was a real currency of a country everyone in that country would be climbing over each other to exchange their money into something that doesn't crash and burn on the whims of people that hold it. The IMF was created for a reason dipshit.

>>503573
YTD: bitcoin is still up over 300%

>IMF
>fiat currency thousands of years old
wow, your funny.
fiat currency is an experiment barely 40 years old but you keep pulling that statist party line buddy.

bitcoin is up over 30,000% sense inception and if a 10 month low scares you, you shouldn't be in bitcoin.

It isn't a great currency yet.
It is an exceptional commodity and great form of money.

>>503584
>YTD: bitcoin is still up over 300%
Faggot doesn't even know how to read charts

>if a 10 month low scares you, you shouldn't be in bitcoin
Nor should anyone else. It is a shit store of value.

>It is an exceptional commodity and great form of money.
lolno

>>503584
> fiat currency is an experiment barely 40 years old
Wat

so, are my dogecoins going to be worth something soon?

>>503867
You can exchange them for goods, services or fiat so they already are.

A few months ago bitcoin was at $1000 per BTC. Its value has been dropping since then, currently at ~$360 per BTC.

Fuck investing in bitcoin at this present moment. The idea to making money is investing in EARLY hype. You're about two years late to board the BTC gravy train, but by all means keep up with the news and watch the markets if you think a short-medium term scalp is in order.

>When the last fish has been eaten and the last rivers have been dried up, then let me see you eat your bitcoins

>>503526
>Bitcoin will be in the millions by 2020, the fiat system doesn't have a snowballs chance in hell.

What the fuck drugs are you smoking, glue?

>bought 400$ of btc 3 years (11$) ago to buy weed on BMR
>buy weed, keep rest of btc aside
>smoke weed for two years for close to nothing
>sell my remaining btc for 600$ each
>buy 4 ounces of gold
>feelsgoodman.jpg

train has left, OP.

>>503526
lmao as its breaking 340 with no sign of return

>>503357
>digital gold
>could be the best store of value ever invented

are you a comedian? where is your next show at? i want another good laugh.

>>503937

Correction: BTC is now at ~$305 per BTC. Fuck that noise, there are lower lows to go.

>>503224
is there a crypto algo that's not filled with ASICfags and just pure video card miners? are they profitable?

>>504155
If it becomes profitable, ASICs will appear. It's just a matter of time.

>>503931
I got 5.7 million dogecoins
I want to hold them
I either get more than $100k off of them or I'll keep them until they're worth that much

>>503468
Bitcoin is down ~50%, thats worse than any S&P asset.
Bitcoins are trash, its a fad.

>>504007
Too bad golds dropping too.