/biz/ - Business & Finance

You'd better take a look at bitcoin, it's pretty undervaluated right now.

>>618301
>undervalued
>implying it has any value
fuck off

>>618301
Bitcoin is retarded. The rest of civilized society is realizing what "sour grapes" analysts realized early on.

> you can't buy a home with Bitcoin, except in rare instances
> in those instances where you CAN buy a home, you can't pay closing costs or property taxes with Bitcoin, because law firms and governmental agencies don't accept Bitcoin
> you also can't maintain your new property with Bitcoin .. the overwhelming majority of plumbers, electricians, and contractors don't accept Bitcoin, neither do the hardware stores that sell home improvement items

> you can't buy a car with Bitcoin
> in the rare instances where you CAN buy a car, you can't pay auto insurance with Bitcoin
> you can't fuel the car with Bitcoin

> institutions of higher learning don't accept Bitcoin .. you can't improve your education and marketability with Bitcoin

> hospitals do not accept Bitcoin, nor do insurers

the only thing you can easily purchase with Bitcoin is clothes, prepared food, and alcohol. at exclusive retailers and servicers.

everyone else only accepts standard currency. the only time Bitcoin holds meaningful value, is when "investors" actually cash out their "currency" and replace with currency of actual value.

to put it simply, it has no demand .. it merely has supply.

the attempts to successfully market Bitcoin, in order to grow its demand, have utterly failed. because mainstream media demonstrated that the "banks" which store Bitcoin, are subject to complete and total failure, with the investors entire savings subject to complete and total loss. No bank in the world is as unsafe as a Bitcoin "exchange". and time and again, Bitcoin investors are proven to be drug dealers, child pornographers, and con artists.

the utopic vision failed, because it was founded on pipe dreams by the unscrupulous and the inept.

and, as someone accused of having "sour grapes" for years by various *coin advocates, all I can say is "I told you so"

>>618309
>implying you can buy drugs 4 paypal

>>618309
>>618345
>bitcoin is ded
Do we have literal grandpas posting in here?

>>618345
>Bitcoin investors are proven to be drug dealers, child pornographers, and con artists.

You mean just like a select few of people that use fiat currencies?

There's your problem, you assume Bitcoin is supposed to be completely different to fiat. It isn't. Of course there will be those types of people.

You can in fact improve your education by paying in Bitcoin.

If there was no demand, it would have no value whatsoever.

Bitcoin isn't necessarily marketed, its users are suggest companies should use it by telling them they wish to buy X with it.

A bank account is as safe as you make it. Shit passwords? Store your info online? You're going to have a bad time. it isn't just exchanges being subject to hacking.

Both Bitcoin and fiat have their flaws.

>>618429
fiat currency is easily traceable when you make online transactions, either with money transfers or credit card payments.
What OP means is that bitcoin is the choice of criminals conducting business online.

Nobody else really has a purpose to use it. Not a single shop near me takes bitcoins.
If I buy online why not just use my credit card ?
I'd have to use my credit card to buy bitcoin anyway, so it saves me the hassle of making multiple transactions and storing a shitty useless crypto in a wallet for a few seconds.

Also most fiat banks offer some kind of insurance. I can also chargeback on my credit card should something go wrong.

Penny stocks are scammy garbage son.
>>618301
...and so is Bitcoin.

Bitcoin has become the universal payment system used worldwide. Not everyone has a paypal account or credit card, not everyone wants to enter personal information on strange websites to make a payment worth a couple of dollars. Not everyone wants to pay fees to banksters. So, basically, bitcoin has a very bright future.

>>618429

Yeah, nah, you're a cunt.

Fact remains, no one uses BTC for commerce, it's hard to buy BTC, it's not anonymous, it's volatile.

It's worthless.

>>618496
>Fact remains, no one uses BTC for commerce
Almost everyone. Even paypal is planning to use it.
>it's hard to buy BTC
I buy BTC for fiat in my school from a guy I know, IRL.
>it's not anonymous
Implying everything else is anonymous. Implying you can't use mixing servinces.
>it's volatile.
Why is it a problem? I can hold BTC-E dollars/euros/etc and exchange for BTC when I need.
>It's worthless.
Like your slutty mom.

>>618494

Except that Bitcoin is even less opaque and accessible than universal payment systems like the US dollar, PayPal or Western Union.

I will happily pay PayPal's 3.5% transaction fee if it means my transaction is instant, secure and insured by regulated financial services provider.

Only nerds and autists would bother going through the ordeal of purchasing Bitcoins through opaque and sketchy online exchanges, that require your ID. And the volatility of the worst performing currency in the world means your 10 USD purchase yesterday, could only be worth $8 USD today.

>>618494
>Bitcoin has become the universal payment system used worldwide.
Blatantly false.
>Not everyone has a paypal account or credit card
Not everyone has a computer or smartphone either. Also, cash is a thing.
>not everyone wants to enter personal information on strange websites to make a payment worth a couple of dollars.
Which is why you use PayPal or credit cards. The process of getting Bitcoins is no better.
> Not everyone wants to pay fees to banksters.
Bitcoin you just pay fees to miners for an inferior service.
> So, basically, bitcoin has a very bright future.
It really doesn't.

>>618500
1. Buy BTC for fiat rubles in school
2. Buy drugs/hostings/4chan pass instantly

Better that fucking with paypal, especially implying someone's underage.

>>618499

You're preaching to someone who made about 40k when I bought and held them at $50 to $900.

It's a pump and dump shit show with no actual real world appeal, except as a pump an dump shit show.

You are me, last year, when I was preaching about the miracles of BTC to the naysayers.

Abandon ship.

>>618502
>Blatantly false.
No. More and more payment systems accept it.

>>618505
I'm not telling you about the price, what really matters is the technology.

>>618506
Except no one actually uses it. It's just a PR / free advertising stunt.

>>618508
No, people actually use it. Payment systems actually accept it. So?

>>618511
No, people don't use it. Bitcoin transactions make up a negligible amount of total transactions. It doesn't cost payment systems anything (they accept all sorts of things, it doesn't mean they have bright futures)

>>618511

I haven't even seen one physical location in Toronto accepting Bitcoin.

>In before the "true believer" finds me an example of some weed paraphernalia store accepting BTC.

>>618516
Maybe, but Bitcoin is the universal method of payments. It's accepted everywhere, in every country.

OK, take a look. Imagine I have 1000 fiat rubles. I want a 4chan pass. What do I do?

Option one: use some shitty Russian payment system like "WebMoney" or "Yandex.Money", depositing funds from automated machines that take up to 7% in fees. OK, now I have 1000 rubles on my WebMoney account (verified with SMS and real name). What should I do next? How do I exchange WebMoney for Paypal? Pay 10% in fees again? Would I trust online exchanges that do it? Wouldn't they request my passport scan? OK, finally I get moneyz on Paypal, I spent 3 hours fucking with Webmoney, exchange, paypal and I'm ready to buy the pass. Cool?

Option two: approach a nerdy guy in my school who always talks about litecoins and brags how much he made yesterday investing in SpreadCoin or some other shit. I say: "hey yo, could you exchange me 1 thousand for BTC?". And have my 4chan pass in ten minutes. Also I'll be able to buy drugs with the rest of my money.

Which one is better?

>>618531

Dude, we get it, you bought some Bitcoins, and you want them to appreciate it value.

But everything you say has been said before and you're not going to convince anyone here.

Just like buying stocks over the phone from sketchy boiler rooms ended in the 90s, Bitcoin is done.

>>618531
>It's accepted everywhere
No store I go to accepts it.

I can't speak for Russia, but in the U.S. I'd most definitely use the standard payment systems than go through some random sketchy nerd. It's way better.

>>618536
>Dude, we get it, you bought some Bitcoins, and you want them to appreciate it value.
Prove that I said that. Actually I hold 0 BTC now. But developing a ponzi scheme website using this precious technology.

>>618538
>No store I go to accepts it.
OK, some do accept it, but we're talking about the Internet.
>I'd most definitely use the standard payment systems
Imagine you'd need to buy something in Russia. Paypal is not widely accepted here. But BTC is accepted everywhere, that's my point.

>>618539
>But developing a ponzi scheme website using this precious technology.

So you're working on a new shitcoin?

Fedoracoin failed already?

>>618542
>we're talking about the internet
Since when? Anyway, not every site accepts it either.
>Imagine you'd need to buy something in Russia
I can't because I've never been there. I can only talk about the U.S. and Europe. Bitcoin is pointless in both short of buying drugs.

>>618549
No, I'm working on a site that gives you 2 BTC in, let's say, one week, after you deposit 1 BTC.
>>618550
>Anyway, not every site accepts it either.
But most payment systems. Have I mentioned PayPal?
>Bitcoin is pointless in both short of buying drugs.
Well, I don't have credit card, so I can't open a paypal account. Why would I need to go to a bank (being autist, lol) if I can buy whatever I need with bitcoin?

>>618553
>why would I need to go to a bank
Because it's vastly superior. Why purposefully use the inferior option?

>>618561
Why do I need a credit card? To let the government know everything about me? Or to pay fees over 3%?

>>618563
Reversible transactions, protected against loss, and no additional fees. You don't save money using Bitcoin unless the seller gives you a discount.

>>618569
>Reversible transactions
They cause a lot of problems by the way. This shitty "feature" makes websites request passport scans. Also, I don't save money with bitcoin. but why would I need a credit card? I wouldn't pay hosting with my real name.

>>618553
>No, I'm working on a site that gives you 2 BTC in, let's say, one week, after you deposit 1 BTC.

Sounds legit.

>>618574
No site I use requests a passport scan.
>why would I need a credit card
Again, it's just better for the reasons I listed. If anything you'd end up paying more with Bitcoin because of the exchange fees.

>>618370
>>618429
^ literally refusing to address the fundamental points of my post, which asserts that Bitcoin can NOT purchase, nor pay ongoing maintenance fees for, housing, transportation, education, and healthcare.

>>618494
> Bitcoin has become the universal payment system used worldwide.
^ I think you're thinking of "dollars"

Dear grandson don't invest in penny stocks because they are a piece of shit.

>>618345

I think it could see the reliability boost and the more widespread acceptance it needs to do well, but it'd take a lot of major players in fiat to back them, and they're all peachy making dollars as it is.

BTC will continue to flourish in the black market though, no doubt.

I play poker and regularly run up thousands of dollars only to lose it soon after

How do i find penny stocks with a slight chance of shooting up to invest my winnings in, I realize its like playing the lottery, and im okay with that.

>>619532

If you want the equivalent feeling, you can go buy as much FXCM as possible tomorrow pre market

>>619545

That's actually a pretty good idea. They've been pumping themselves with paid twitter tweets for the past few days, cash injection higher than their outstanding margin calls, and continuing daily operations as normal. Not nearly as much risk as penny stocks.

>>619548
what happened?

>>620550

They're a forex broker that was leveraged and got hit hard by the Swiss bank decision last week. The price of the stock crashed to like $1.50 from $13. Trading was halted a little bit before the market opened on Friday, and the stock opened higher at the end of the day at about $4. It's back down to $1.50 so get it while it's hot because ultimately it's still the same company, they have a rescue deal in place and they'll survive. I think it'll settle around $6 once people are more comfortable buying back in

>>620560
Is this a joke? Did you look at their growth and revenues for the past 3 years? Now they have a 300M loan to repay at 10%, moving up to 17% soon enough, and less user adoption as before. Read the terms of the loan, the summary is on marketwatch.