/biz/ - Business & Finance

>>818602
lol, sure, I suppose it's a secret why?

>>818602
Bullshit. Volume is nothing like the last periods of fervor. They haven't even fixed the tps issue. Go pump someone who cares. I hear your boyfriend is hiring.

>>818628
Go ahead and keep pretending you know what you're talking about

I'm with you OP. I'm expecting them to double at least in worth this week

>>818637
Haha, don't encourage him.

>>818640
You'll see man.

How many bitcoins you guys have collected.

I have 9, but dont know when to stop.

FUDEYGdp

>goat

>>818602
>2015
>Buy buttcoins

Stay pleb faggot.

>>818648
Oh, you weren't kidding? I can't tell anymore.
What's the big secret then?

>>818689
All virtual trading of bitcoins is going to get fucked. The main ones anyways. It will become very difficult to buy them. Once that happens, it's going to be beneficial to be the guy with the coin. I don't care if anyone gets on aboard here. I just frequent biz so I thought I would shout out

>>818636
>Well... Y.. You're wrong!! Showed that fucker! Gimme a high five mom!
Fantastic retort, so much information.

>>818602
OP, for some reason I just trusted you. Bought 100 of them (97.8 to be precise). I hope you aren't trolling.

>>818602
Are Bitcoins good hedge against currency devaluation?

>>818773
Who the fuck knows at this point. The fact of the matter is, when shit hit the fan in China this last week, the value of Bitcoin went up. If you take a company with the infrastructure in place to buy Bitcoin, stir up some economic nonsense, then there is a chance Bitcoin can go up in value.

>>818692
What is this even supposed to mean. Your vagueness=bullshit

>>818692
You sounds like a bitcoin fanboy. Nothing more than a shill.
Maybe if you had some kind of evidence you wouldn't sound like a retard.

Here's not OP, giving my 2 cents

-OP is clearly a shill
-Bitcoin did go up with the china/greece thing.
-Litecoin also went up, but it was caused by a chinese pump and dump scheme, so now it went mostly back down (still higher than before the crisis).
-Bitcoin will probably go briefly up soon, either by itself or because of market manipulation. If you wanna be a speculator you can probably earn a bit of money
-It still sucks as a long term investment and definitely will not bring about a new era of futuristic digital economy.

>>818652
zero. all in altcoins, something like 6btc worth.

>>818993
I mean, whats the logic for buying altcoins that are even more obscure than bitcoin already is for the masses.

>>819029
volatility. i have alarms set on an android app, all blockchains up to date and my sole reason for owning most of them is to trade them for btc at their peak prices. more work, but there's more money this way

>>819038
What do you mean when you say "all blockchains up to date"?

>>818903
You're just using stuff from mainstream media. Educate yourself child

>>819059
Do you have a time line for this rocket to the moon or are you just speculating.
I want to keep this thread bumped so that I can laugh at you when the count down runs out.

>>819076
I win no matter what you masters of pseudo trading want to believe

>>819080
So... when is this going to happen?

>>819087
Don't worry about it. You'll see tomorrow at 9pm WST

>>818903
I disagree with you entirely.

I think the altcoin market provides a certain stability to Bitcoin. I don't think it's going to disappear now. There's too much money to be made from it for it to disappear overnight.

Also one to watch is ether.

>>819133
if you so sure you should give me a bit coine

>>819133
If you cant purchase them from shit like coinbase and sites like that how will the price go up? I get scarcity but if you sell 1 btc to joe fuckin shmoe at $500 how can you relay that information without having a centralized site to share it on?

>>818602
OP is right tho you can make easy money real quick godspeed anons

Block halving late 2016 by then it will be too late.

Ok let's say I did buy some coins. How do you sell it back for a profit? Who buys it and how do you actually trade it?

>>818602
>source: my ass

come on guys, catchup already.

threads like this, are made by people who wants you to buy Bitshills, because its shillgains for them.

more plebs buying btc= btc go up

just ignore and buy stocks in the Sun, that shit will hold its value for 6 billion more years

>>819462
>>819462
>>819462

>>818602

Go pump some steamy man anus.

>>819462
Btc value will go up regardless of what is said in this thread. You must be retarded if you can't see that. Stay poor.

>>819514
Yeah, wealthy successful people buy anonymous internet money. See, it's so great because it's all online. You can't do that with normal money!

>>819515

>>819329
>2015
>being this ignorant

>>819545
asking a question is ignorant? so you know everything, because apparently asking a question is beneath your lofty intelligence.

>>818602
All of you fellow go- er guys should buy bitcoin...

>>819564
Dw man let the idiots lose their fortunes, that's the only way they will realize this guy was a shill. It's natural selection

>>819549
Try google before you embarrass yourself.

>literally answering your own question and acting like it's legitimate.

>>818692

As someone who operates a crypto exchange, I can tell you this: You're a dumbass.

Nothing is going to happen in two days.

>>819592

This.

$250 is the new floor imo, if anything the price may go down over the next few months despite the bullish market we currently have.

>>819592
>not seeing the key difference.

There is no "despair" phase in any of bitcoins bubbles.

>>819582
"Ok let's say I did buy some coins. How do you sell it back for a profit? Who buys it and how do you actually trade it?"

You know I didn't even ask that question right? Wow you reach a new level of stupidity, your asking to use google yet you don't even have the capacity to use 4chan properly, learn to find who originally said the comment you spastic.

>>819637
google coinbase

>>819629
yet

>>818602
Negative. A 50 dollar rise in response to china and greece means the 1k peak really was a bot at mtgox. This tiny rise in price is a whale fishing.

>>819684
>20% rise in 2 days
>Tiny

Ok.

>>819691
You could have made way larger gains on dozens of altcoins. My point is the rise in calue in response to bad fiat currency news doesnt follow the trend , hence the conspiracy guys were correct. The 1k peak was actually just the willieboy at mtgox.

Yhe true market price of btc is and has been for 2 years about 2 to 300 bucks a pop , where we are

>>818602
NOOOOOO DON4T
THE END OF BITCOIN IS NEAR FUCK DA CHINESE MINERS THIS WILL BE THE BIGGEST COLLAPSE EVER SEEN

>>819721
Not even "fuck the chinese miners" , bitcoins top sog bexause of 2 things 1) first mover advantage and 2) hashrate (lots of computers securing it)

But you have at least 5 different parties that have to agree for a hard fork , so its difficult to upgrade btc to handle the new stuff blockchain technology allows such as contract law

The incentive for the miners is profit so if an altcoin that has more utilitarian value comes along and proves itself profitable theyll jump ship and aim the rigs at the new coin

Citibank is playin with the idea of "citicoin" , how much money would a bank or government have to throw at this to have a damn fine and secure chain?

>>819133
5 HOURS TO GO PEOPLE
The count down has begun.

>>819691
it's tiny when taking into account the extreme risk

no one ITT even seems to know what OP is talking about (why the fuck are you so vague OP you fucking turd) and pleb media don't report on it. EU is deciding on whether bitcoin exchanges should pay VAT. i don't believe in bitcoin but depending on what they announce it could be decent news i guess

>>820115
Yeh and yet we stayed around 200-250 a pop with "news" of investment firms and banks holding btc, its almost as if online drug dealing to first world countries has an insignifigant (4 billion dollar) market cap

You still have to launder the money , why bother with the middle man?

>>820089
I have bitcoins and I'm not holding my breath. I think OP is full of shit.

zero discussion about anything on bitcointalk. i hold btc, but nothing is happening.

>>820138
>>820143
This.

It's moved $4 in 2.5 hours...

Going to catch that knife at 280

>>818602
I thought they were going up? You've got a lot of work to do because they're going the wrong way.

>>818602
>>818636
>>818692
>>819059
>>819080
>>819133
Times up asshole. You owe everyone an apology and $10 a coin because that's what you lost them.

>>820244
Class action lawsuit against OP?
I want my $10

awww you guys lost money? but he said you would! A random guy on the internet promised you riches, why didn't it happen..awwww

>>820264
You're a fuckwit. About as much as OP.
Fuck off donkey dick no one likes you.

>>820268

>>820268

>>820264 is right
you will always lose money

Of course nothing was going to happen. Bitcoin is for poor people

Lmao people actually use Bitcoin?

>>820268
>>820272
>>820378
>>820379
>Pleebs who didn't short on OP's obvious troll
Idk what you are on about, I made plenty.

>>820517
Sure buddy

The price of Bitcoin is not the most important number. Numbers to watch are network transaction volume & developer adoption!

HODLING!!!

>>820268
If i'm a fuckwit than in relative terms, you are someone with no wits whatsoever. So before you throw ridiculous ad Homimens, understand that bitcoins its just some market manipulation stunt, there is no consensus on bitcoins being the new universal currency. Have fun losing money to a bot when they decide to dump all the bitcoins in the market.

>>820645
You are a spectacular spastic. At no point did I say I even purchased bitcoins.
How's it feel being just as unpopular on an anonymous image board as you are in real life? It must be so lonely in your parents basement.

>>820694
>unpopular

What the fuck are you talking about
Stop wasting our time with worthless drama / ad hominem

Salty replies aside, Bitcoin is feeling more bullish recently. It's been pumped and dumped more times than your sister. The price is just meandering around aimlessly at this point. Some kind of news or new pump from some unexpected quarter could make the price double at least in a very short time.

Is there a bitcoin eBay yet?

>>820742
Purse dot io is the closest I know
Else, silkroad or a succesor to it?

>>820703
>Some kind of news or new pump from some unexpected quarter could make the price double at least in a very short time.

Read the thread.

Thats what we should have seen with a chibese stock crisis and possible grexit but it fizzled out.

>>820694
You are on a thread, and you bitched at my earlier comment about people losing money form bitcoins, so either you have some irrational sympathy for people who lost money, or you lost money yourself; which is why you are going on a ad Homimens rampage. Also really the basement comeback? isn't that like 10 years old, seriously if you are going to use ad Homimens at all (you shouldn't) use one from this decade..even worse than using them at all its using a trite one from the 2000s..

>>820864
Oh come on you two.. Get a room

Sage

>>820893
I've heard this sage nonsense. What is it?

I totally agree with >>820244
I can see why no one likes you
>>82086.
Not that I disagree with what you're saying.

Well, 2 days later, nothing happened.

10/10 advice OP

>>820917
write sage in the options field to reply to a thread without bumping it to the top of the first page

>>820742
i'm learning php now, because no. actually i'm learning it largely because there's no BTC fuelled MFC. brb billionaire.

>>821037
No! You write it at the end of the post to express your displeasure.

Like this :

Sage!

>>818602
Complete fail OP. Slid even further today.

>>821298
lmao

what "20% rise in 2 days" was >>819691 even talking about?

Now that the dust has settled, can we all agree that Bitcoin is an interesting concept but a terrible investment.

>a terrible investment
>was less than $1 four years ago
>now steadily in triple digits

I don't think so Tim

>tfw i was mildly interested in bitcoins when GPU mining was highly profitable but i was too young and passive to do anything about it
could have been ballin' outta control

>>821521
shame. you could have been this guy.
http://gizmodo.com/man-forgets-about-buying-27-of-bitcoin-is-now-worth-a-1454150399
at least you're not this guy.
http://www.theguardian.com/technology/2013/nov/27/hard-drive-bitcoin-landfill-site

>>821488
>Dividing by zero.
Ok...

>>818602
>BUY BITCOINS IN THE NEXT TWO DAYS. They are about to go up like you wouldn't believe.
Sure they are, anon.
Sure.

HYPE!!!!!!!!!!!

Is it possible that in the long run (6 mo from now) the floor will settle somewhere above 300 because of this Greece situation?

Block reward halving in 2016.

Internet users growing at unprecedented rates.

Blockchain tech literally solves trust issues in networking.

Bitcoin has first mover advantage, metcalfe's law and is the most powerful network in history.

Bitcoin has bubbled 4 times and each time it settles higher than it began which looks like a classic boom bust cycle for technology adoption.

World economies are tanking thanks to QE of fiat currency.

Not realizing a digital native global currency which is technically sound has tremendous demand.

Programmable money.

>stay pleb /biz/

Where is OP to fall on their sword?

>>822095
bitcoins have a bad reputation for being associated with criminal activity.

bitcoins are illegal in some countries.

anyone can make their own altcoin.

big banks and governments are working on their own altcoins.

world economies are not tanking.

>>822095
>Block reward halving in 2016.

priced in already, raised price about 15 or 20 bucks

>Internet users growing at unprecedented rates.
>Blockchain tech literally solves trust issues in networking.

and other altcoins solve those problems better because no one can agree on a hard fork

>Bitcoin has first mover advantage, metcalfe's law and is the most powerful network in history.

miners will move to where profit incentive is, see point above
>Bitcoin has bubbled 4 times and each time it settles higher than it began which looks like a classic boom bust cycle for technology adoption.

thats not true though, go google "crypto currency market cap" then choose bitcoin and expand the price graph to show "all time" it was about this price in november 2014 and then kept bubbling and setlling lower until getting back to this price, indicating that without a bot at mt gox artifically driving price 2-300 a coin is fair market value for an online drug dealing currency
>World economies are tanking thanks to QE of fiat currency.

and yet this recent greek and chinese news didnt double its price, meaning fiat negatives dont actually translate into btc price increase (see point above about a bot manipulating the market)
>Not realizing a digital native global currency which is technically sound has tremendous demand.

and dozens of altcoins do it all better, citibank is making one, you dont think they'll have some pretty nice hashrate backing that? the blockchain technology can be used by companies without them having to invest in bitcoin "first mover advantage" does not equal a win as we saw with myspace
>Programmable money.

I can go make an altcoin right now, wont mean shit if no one uses it

>>822079
>the long run
>6 months
Do you have a life expectancy of 3 years?

>>822206
Mostly all irrelevant points nonetheless:

>ISIS uses GOLD therefore GOLD is bad m'kay.
>Torrents and peer 2 peer networking for file-sharing is also illegal but widespread.
>XRP is/was a centralized altcoin.
>Depends where in the world you live.
>>822302
>"altcoins solve those problems better because no one can agree on a hard fork"

Bitcoin has hard forked in the past and how does this stand to logic? Let's make a smaller less secure network so it's easier to fork? WTF r u doin m8?

>"I can go make an altcoin right now, wont mean shit if no one uses it"

Yeah, that's the point dipshit.

People seem to forget that bitcoin isn't just a myspace; it's a protocol.

A single phone on the entire planet isn't worth anything. A few billion all connected in a network is priceless and each phone will now be worth something.

>>822306
What's the pic from? Very close look of the Witcher.

>>822327
I have no idea and I'm too lazy to image reverse search. The actor is Mads Mikelsen, though. (spelling probably wrong)

I'm so happy /biz/ faggots don't see the potential of bitcoin/crypto.

Nothing makes me smile more at the fact you will be kicking yourself in a decade

>>822457
>Nothing makes me smile more at the fact you will be kicking yourself in a decade

I thought bitcoinfags were saying they would be $10,000 per coin by 2015? Or was that 2016?

Didn't they also say just over $1,000 is a "low price" for the memecoins yet they can't get anywhere near it again?

>>822459
as Satoshi said, you will either be a millionaire or have nothing by 2020

(you can easily find the quote)

>putting money into an uninsured Internet currency

Duuuuurrrr huuuuurrrr

>>822471
it's insured by cryptography ;-)

>>820864
>like 10 years old
Wow, you're really old. I'm surprised you haven't killed yourself after being so lonely these past decades. How do you plan to face the next? Your oculus will make your waifu a reality? Maybe you're on the brink? Just do it, no one will miss you.

>>822478
Nope

>>822496
https://blog.coinbase.com/2014/08/27/coinbase-is-insured/

>>818692
The Winklevoss brothers are going to open up an exchange with all regulations needed (Gemini).
Bitcoin is unstopable, you either accept it, integraet your infrastructure into the Bitcoin blockchain, or your business will go Kodack in the next decade.

Anyone not owning at least 1 entire unit of the network by this point is simply mentally retarded and or uninformed.

>>820645
>being this blindfolded
Fucking morons, you deserve to stay poor and get cancer. Just lol at you.

>>821412
https://www.youtube.com/watch?v=XbZ8zDpX2Mg

https://medium.com/@KawaiiHolocaust1488/5-reasons-why-not-to-buy-into-the-bitcoin-hype-e2842804428e

>>822459
>bitcoinfags
There's tons of posts in bitcointalk.org saying Bitcoin would never reach 10$.

>>822206
>internet have a bad reputation for being associated with criminal activity.

>internet are illegal in some countries.

>anyone can make their own intranet.

>big banks and governments are working on their own intranets (compuserve, aol)

>world economies are not going Kodak.


Get schooled you deprecated, clueless grandpa:

https://www.youtube.com/watch?v=_0mykANOMGQ

>>822557
>written by Mohammed Faisal Ahmed


Muslims have a irrational hatred of Bitcoin.

>>822574

It's as fake as the picture that goes with it fuckwit

You wouldn't want to expose your identity speaking those home truths about Bitcoin, because otherwise the bagHODLers might start trying to smash something other than their iPhones to get their money back:

https://www.youtube.com/watch?v=y7z2WFcEw5Y

>>822312
>Bitcoin has hard forked in the past and how does this stand to logic? Let's make a smaller less secure network so it's easier to fork? WTF r u doin m8?

You have 5 different sets of players at work here who really need to be on the same page about a hard fork , not just miners. These people often have different or competing incentives. So yes , I realize its been done before but to catch up with ring signatures , use of the blockchain for contracts etc they need some serious development and the ability to upgrade (hard fork) - developers bickering with miners bickering with xyz doesnt make this feasible whoch leaves bitcoin as this dinosaur coin

>>822578
>home truths


Lol whatever you say you clueless idiot

>>822574
Cute , but could you focus on any of the arguments? Maybe the willie report to start?

https://willyreport.wordpress.com/2014/05/25/the-willy-report-proof-of-massive-fraudulent-trading-activity-at-mt-gox-and-how-it-has-affected-the-price-of-bitcoin/

>>822610
Oh shit guys!

He's found the Achilles heel of bitcoin!

It's over!

CANCEL ALL ORDERS

>>822610
>mtgox is Bitcoin.

You're 2000 and late

Omg so many butthurt bitcoin shills. Look, OP was wrong * gives hug * everything is going to ok. It's just money.

Telling us about da futures of bitcoinz! Doesn't change the fact that every last one of you is full of shit within the context of the time limit OP set.

So shill all you want. Those charts are etched in stone now.

Make a new thread, maybe it won't be made of fail like this one.

>>822664
https://www.youtube.com/watch?v=xUNGFZDO8mM
You are the old guys.

>>822565
>>822671
ok and how has that investment worked out for you so far?
>>822539
>The Winklevoss brothers
niceme.me

>>822620
from that article it seems mt. gox pumped up bitcoin's value artificially

>>822664
OPs prediction was an obvious troll. A liespeddlar on a rusemission. That doesn't detract from the fact that Bitcoin looks here to stay as a permanent feature of the financial landscape. Ignore it at your peril.

>>823235
Winklevoss may still happen

>>823242
The price is the price I don't care what anyone says. The market knows all available information.

>efficient market hypothesis.

The bots expectation is zero just like any speculator.

>>823243
>OPs prediction was an obvious troll
no, he foolishly thought that EU was going to make bitcoin exchanges pay VAT and that this would cause bitcoin's value to go up a lot. he's a piece of shit turd for being so vague about it.

how does one convert usd into bitcoins?

>>822489
wow way to take my comment out of context, wouldn't expect any less from a petty insignificant shit like you.
First off I didn't say my age was 10 I said "also the basement comeback? really that's 10 years old"
So in addition to being legally retarded, you also can't even read a sentence without jumping to some dogmatic assumption, and then telling them to kill themselves.
Next time you go on a retard tangent; read what the person said, it may help.

>>823243
based on what merits? You can't just claim it will be the next currency on a ridiculous assumption.
Extraordinary claims require extraordinary evidence.

>>823291
jump through dozens of hoops and end up losing some USD along the way.

>>820379
ID's are enabled op, you pleb.

>>822671
>>823235
LOL, more butthurt excuses for a total fail.

Invested at $11 bitches. Keep shilling your cuck money. I'll make money off you no matter what.

All of your bullshit doesn't change the fact that bitcoin is a fucking submarine right now. I'm just tired of the constant shitposting on this board about bitcoin. It's not even half decent.

Bitcoin isn't that interesting, get over it.

Literally the ONLY thing keeping Bitcoin going now, is the fact China has a $50,000 per citizen per year legal limit on bank transfers out of the country.
>buy bitcoins with Chinese currency.
>get person buying your coins to deposit US currency into foreign-based bank account.
Also notice how, once again, Bitcoin is only good for circumventing the law. It's not just for drugs and child porn!

>>823292
Um, I think you're the one that might need to work on your reading comprehension...
I read it as because you're aware of what insults we're going around 10 years ago you must be quite old presently.
I hope you can see the irony in your comments, specifically, "retard tangent", "ad hominems" and "read what the person said".

Just got my 20th coin. Pnce it hits 10,000, see me post a thread to point and laugh at you all.

/biz/ is a timid, low-risk cuck-tier retirement "muh index funds!" boards. Looking at the plebs with questions like: how my resume look guize, or "watch thredd :D :D" you guys should know never take these guys seriously.

As a matter of fact, I come here to see wht /biz/ is agreeing, and hedge against that.

What do you guys think of the Shemitah this year?
https://youtu.be/rkELgi6EkNo?t=6m21s

>>823472
Watched the vid, very intriguing. Now I am contemplating if I should take some cash out of USD and park them by buying some gold coins.

< bitcoin accepted

high risk, high reward scheme

"Shillin' - The Bitcoin song"

Ooh, yeah! All right!
We're shillin':
I wanna shill it wid you.
We're shillin', shillin',
And I hope you like shillin', too.

Ain't no rules, ain't no vow, we can shill anyhow:
I'n'I will see you through,
'Cos everyday we pay the price with a little sacrifice,
shillin' till the shill is through.

We're shillin' -
To think that shillin' was a thing of the past;
We're shillin',
And I hope this thread is gonna last.

No bullet can stop us now, we neither beg nor we won't bow;
Neither can be bought nor sold.
We all defend the right; Jah - Jah children must unite:
Your btc is worth much more than gold.

We're shillin' (shillin', shillin', shillin')
And we're shillin' in the name of the Satoshi;
We're shillin' (shillin', shillin', shillin'),
We're shillin' right straight from Yah.

Yeh! Holy Mount Zion;
Holy Mount Zion:
Jah sitteth in Mount Zion
And rules all creation.

Yeah, we're - we're shillin' (wotcha-wa),
Wotcha-wa-wa-wa, we're shillin' (wotcha-wa),
See, I wanna shill it wid you
We're shillin' (shillin', shillin', shillin')
I'm shillmed: I hope you're shillin', too.

Shillin's about my pride and truth I cannot hide
To keep you satisfied.
True love that now exist is the love I can't resist,
So shill by my side.

We're shillin' (shillin', shillin', shillin'), yeah-eah-eah!
I wanna shill it wid you.
We're shillin', we're shillin', we're shillin', we're shillin',
We're shillin', we're shillin', we're shillin', we're shillin';
Hope you like shillin', too.
We're shillin', we're shillin' (shillin'),
We're shillin', we're shillin' (shillin').
I wanna (I wanna shill it wid you) - I wanna -
I wanna shill wid you now.
shillin', shillin' (hope you like shillin' too).
Eh-eh! I hope you like shillin', I hope you like shillin',
'Cause (I wanna shill it wid you). I wanna ... wid you.
I like - I hope you - I hope you like shillin', too.
I wanna shill it;
I wanna shill it.

someone fill my xmr order at .00189623 pls. bored with not being rich yet and i wanna stash 10,000 xmr. almost there.
anyone else have their eye on UNITY, PPC, SDC for long-term holds, or anything else for that matter? if supernet is a success generally, and isn't one day thereafter worth enough for me to retire, i'd be legit surprised.

>>823513
>bored with not being rich yet
oh yeah dealing with memecoins is your ticket there...

>>823521
yeah heard it all before m80. supernet/unity isn't a coin, let alone a memecoin, it's a dividend-paying company asset. i own shares in mining, gambling, exchanges, devs, money laundering services, anonymity services... lots of things, having bought UNITY and been paid dividends in the form of digital assets as well as cryptocoins. none of the other coins i mentioned were 'meme'coins either btw, they're extremely popular coins whose value could also rocket on hype/trend alone, and this is more fun than playing the lottery. i've bought 14btc this weekend since the price came back down from 300. buying more next month.

>>823371
What is the cheapest way?

>>823434
ummm still doesn't in any way validate telling someone to kill themselves; so really you weren't alive 10 years ago lmao? I'm only 22. Nope no irony, you wanna know why? Because of the context, telling someone to kill themselves because they lived 10 years ago it just about nonsensical as it gets; even if I misread it, i'm still on point because "do a favor and just die" is a blatant ad homimem, which I made initiuion call; invariably all the same people say those particular comebacks, and they are usually retarded. Based on your argumentative style not a personal attack, ergo its not a ad homimem when I attack your argument.

>>823529
yeah buy a stock based on hype/trend, that's always a good call. Buy high sell low.

>>823529
Thoughts on ethercoin?

>>823493
HAIL THE LORD,HE HAS SPOKEN!

In all honesty, this reminds me of when I read about the tulip mania, and one was worth over 10,000 at the peak. This is why you study history, because it repeats. Now its the bitcoins mania.

>>823543
PUT ALL YOUR MONEY IN IT, OMG IT WILL TRIPLE IN 2 DAY. GET RICH QUICK BE MILLIONAIRE MAN.

>>823543
intradesting and tempting, but i'm gonna let it stabilize and find it's footing first. so many coins plummet in value regardless of their integrity and potential. i hold a handful of ether atm, not gonna chuck bigger money at it until it's had a better chance to prove itself, no matter how much i like it.

>>823536
Cheapest way: localbitcoins
Easiest way: purse.io

>>823648
Kinda my thoughts. Im still not convinced the devs arent soing a cut and run with this one.

Mastercoin?

>>823691
i hope you realize how ridiculous it sounds with all these pokemon-sounding altcoin names that you're highly regarding and putting actual money into. these coins are made by amateurs you know

>>818602

already ahead of you

>>823758
this post is from 7 july, when bitcoin was at 300. now it's only going down or will stay steady. you fucked up.

>>823803
>what is shorting

>>823751
If you search the thread youll find I was actually one of the ones poo pooing bitcoin. Its too slow to adapt (hardfork)

But only a fool (someone who doesnt understand blockchain technology) would think the entire concept is anything but revolutionary

I assume you dont know so besides suggesting you dig a little deeper , heres a wiki primer on that specific alt

https://en.m.wikipedia.org/wiki/Mastercoin

>>823807
>https://en.m.wikipedia.org/wiki/Mastercoin
doesn't seem appealing to me at all. some guy raised $500k off of gullible suckers and now gets a full-time salary from his "non-profit" foundation? so?

This is pure gold.

How to multiply your Bitcoins hundredfold in a day?

There is a site outthere I just stumbled into, picture related.
These fucks promise to that you send 0.05 BTC today and get 5 BTC back!

I wonder how many gullible fucks will fall for this, but there is one
thing I dont understand, from tecnical point of view.

Say, they scam people out of 1000 bitcoins, thats 250 K sweet dollars.
How do they cash out without being caught?

Please help me to understand.

>>823859
This is like a ponzi scheme without all the smoke and mirrors. Who the fuck falls for this shit?

>>823862
it's probably made by some stupid kid. i doubt it's very successful.

>>823859
Even if they follow the transaction, what the fuck are they gonna do with it? Since all addresses are anonymous. Especially if the transactions go to various addresses and break up into smaller transactions. Impossible to track down.

>>823882
So, basically, they can safely "steal" bitcoins and never get caught. Oh boy.

>>823887
Its not stealing if you give it to them anon

>>823897
this. cryptos aren't currently for plebs. i for one enjoy the 'wild west' atmos. it's as profitable as it is dangerous, depending on how hopeless you are. i like profit.
it's being worked on, it's temporary, but for now it's fun.
>>823691
>mastercoin
yeah i hold msc. very nice long-term hold imo. i have a lot of faith in jl777 though, so i don't hold a vast amount.

>>823568
>Now its the bitcoins mania.
uhh not really, no.
Bitcoin spent the whole of 2014 steadily falling from $800 down to $200. And now it's spent the last half a year struggling to get up to $300 (before immediately falling back down to the low $200's again.)

>>823907
>jl777
?

>>824013
yeah that's why this /biz thread is full of bitcoin shills. So you admit back then in 2014 it was being manipulated though lmao? "800 too 200"

>>818602

if dubs

OP is a faggot and ill invest 15k into buttcoins

>>824132
http://www.zerohedge.com/node/488930
>At a time no one else was able to trade, be it via API or otherwise, Willy was somehow able to continue as if nothing ever happened.
Fucking LOL. So when MtGox had technical issues, and nobody could trade, they forgot to turn off their trade-bots. Which continued buying/selling to themselves to keep inflating the price.

>>824038
a developer, dude is a pro.

>>824407
And he woeks on mastercoin so you DONT hold much?

>>824426
i cant afford to own a shitload, i own something like 105 different coins/assets in total. i'm focusing more on supernet and it's core coins

Oh look, bitcoin is still down since OP "called it" I wonder how many days it will take for OP to be right again? Too bad he is already a failure.

you guys bitcoins just went up to $1500 a pop, thanks OP!!

What happens when people will stop mining as difficulty increases and it becomes non profitable?
Just wondering, what do you guys think

>>818602
Got my 100 coins. I don't expect an skyrocketing anytime soon, but it's an investment I'm excited about.

>People still invest in bitcoin
lol

>>824515
Then there will be fewer miners (if it becomes less profitable)

The entire blockchain could run on your phone alone though, the difficulty would just adjust and you'd still get 1 block per roughly ten minutes

>>824515
Thats not the problem , they can just give miners another reward (charge people a bit to transact) The problem the way I see it is that blockhain tech has so many other uses besides a digital currency (contracts to name one in particular that I think is just a huge fucking deal)

Bitcoin has too many thumbs in the pie for everyone to agree to a hard fork in order to upgrade to this sort of thing , even when monetary incentive exists. Lots of altcoins on the market today were designed with expanded protocol in mind. As soon as one of these gets noticed I predict youll see miners jump ship in swarms , the large hashrate and thus security of btc is whats maintained it as top dog , it wont last.

wonder why bitcoin doesn't have a voting system inbuilt. blockchain tech allows a form of democracy. that is to say, it decides what is 'true' based on which choice has more hashpower, hence it's protection against double-spends. wonder why there's no coin by which the community is able to dynamically alter the recipe by way of an in-wallet vote as to how things should progress.
anyone know C and wanna be rich?

>>824551
Mining for bit coin is already hard to profit from, there is no way in hell i'll profit from mining in the country i live :( help??

>>824669
Then don't.

If you really want to mine then look into other altcoins, bitcoin is too over saturated by very expensive ASIC's to be competitive right now. But some altcoins are like what bitcoin was a few years ago.

PPC is a good example I think.

>>824433
>supernet

wise anon

>>824551

>you'd still get 1 block per roughly ten minutes

Wrong.

If the price were to fall to $200 (give or take) right now, then 99%+ of miners would flick the switch.

The network would come to a virtual standstill that it would not be able to recover from for several years.

For a full explanation with the math, read this:

https://medium.com/@KawaiiHolocaust1488/the-bitcoin-mining-bubble-why-bitcoin-s-low-price-is-an-existential-threat-b645586db835

Note: Ghash.io, which was the largest pool (remember them getting 51% of the network? So much for 'muh decentralization'), turned off most of their mining and now account for ~2% of the network - the reason? Their break-even point for mining they stated was $300/BTC.

>>824934
>then 99%+ of miners would flick the switch

Which is why when we saw prices down to $166 in January, we lost 99% of miners, I forgot about that, thanks for clearing it up.

https://blockchain.info/charts/hash-rate

>The network would come to a virtual standstill that it would not be able to recover from for several years

>What is difficulty adjustment

In the internet age, ignorance is haram

>>824943

>Which is why when we saw prices down to $166 in January, we lost 99% of miners, I forgot about that, thanks for clearing it up.

Within ~24 hours the price was back to $230

Obviously few miners are going to turn off because of such a short-lived dip. Their time has a value too let's not forget.

>What is difficulty adjustment

Clearly you did not even bother to read the explanation I linked

From the concluding paragraph:

‘Difficulty’ means what it says, and it adjusts according to the fluctuations of network hash rate. It’s usefulness is that it regulates the timing of blocks, preventing them from being mined in less than a minute (due to higher-than-normal hash rate), or being mined too slowly (due to lower-than-normal hash rate). Thus, if 99% of miners were to suddenly switch off and cause block/transaction times to blow out to hours or days, then theoretically the ‘difficulty’ would reset this. However, there is one serious caveat: ‘Difficulty’ is measured over and only readjusted after 2048 blocks, to prevent gaming of the system by miners. But if 99% of miners call it quits, and the block time consequently blows out to 16 hours.. then how long will it take to the difficulty readjustment? 16 hours x 2048 blocks = 3.74 years.


BTW how's that 'brief correction' going?

>>824943
>>824948

It's also worthy of note, now that I look more closely at that chart you linked, that the hash rate did decrease by 36% during that flash crash to $166, which is no small amount.

>>824934
>If the price were to fall to $200 (give or take) right now..
>>824948
>Obviously few miners are going to turn off because of such a short-lived dip

Holy shit, you're already moving goalposts.

>Thus, if 99% of miners were to suddenly switch off

This is literally never going to happen.

Anybody can come up with a convoluted scenario of bitcoins demise, that doesn't make it plausible or likely.

But yes, if 99% of all miners suddenly had a stroke and their machines blew up, there would be some problems.

I'm saying the bitcoin blockchain could operate on a single handheld smartphone.

>>824954
>If the price were to fall to $200 (give or take) right now, then 99%+ of miners would flick the switch.

>the hash rate did decrease by 36% during that flash crash to $166

>>824956

>Holy shit, you're already moving goalposts.

In my article, which I linked and denoted as my full explanation, this is my assertion:

What we can deduce from these facts is the price at which mining becomes irrational for all miners, as electricity cost exceeds the rewards of keeping the machine running.

When I said 'If the price were to fall to $200 (give or take) right now' I did not give an indication of time taken for miners to turn off, neither brief nor extended.

How long it will take miners to stop mining irrationally would depend on their individual mindsets.

Chinese warehouse miners, which constitute the majority of the hashrate, would likely stop mining after a few days. I say a few days and not immediately because it would cost time and would perhaps be a big hassle to turn off every machine, as well as the expectation of turning them on again in the future.

Next up you have individuals running some operations, perhaps as little as a single ASIC running in their personal home. Most of these people would just turn off their machines within a day or two. Only a small minority would continue to mine irrationality, perhaps out of fear (unlikely, as Bitcoiners are oblivious to the risk, as you yourself demonstrate) or out of enthusiasm (a general term for any kind of support at one's expense one might see) - this is why I say 99%+ and not 100%. The point at which the Bitcoin network falls into a state of non-recovery is a 90% loss in hash rate or thereabouts.

>>824958

I should have included the qualifier 'for an extended period' to clear up the confusion.

https://medium.com/@KawaiiHolocaust1488/the-bitcoin-mining-bubble-why-bitcoin-s-low-price-is-an-existential-threat-b645586db835

The math speaks for itself.

RIP shitcoins

>>824970
You fail to demonstrate why 90%+ of miners would turn off their rigs in a day or two if the price fell.

The price has been declining since January 2014

On January 2014, the hash rate was around 8 million GH/s.

Today, with a price much, much lower, the hash rate is comfortably over 300 million GH/s.

You're grasping at imaginary straws friend.

INFO DUMP ON BITCOIN:

5 reasons why NOT to buy into the Bitcoin hype

https://medium.com/@KawaiiHolocaust1488/5-reasons-why-not-to-buy-into-the-bitcoin-hype-e2842804428e

The Bitcoin Mining Bubble: Why Bitcoin’s low price is an existential threat

https://medium.com/@KawaiiHolocaust1488/the-bitcoin-mining-bubble-why-bitcoin-s-low-price-is-an-existential-threat-b645586db835

Block size vs. Transaction Fees: The Achilles heel of Bitcoin explained for the layman

https://medium.com/@KawaiiHolocaust1488/block-size-vs-transaction-fees-the-achilles-heel-of-bitcoin-explained-for-the-layman-505f0dac11de

‘Grexit’: Why it’s a sham and why Bitcoin isn’t going anywhere. (this article is dated now, but it was proven correct and worth reading)

https://medium.com/@KawaiiHolocaust1488/grexit-why-it-s-a-sham-and-why-bitcoin-isn-t-going-anywhere-c15353e5eefd

>>824977
>You fail to demonstrate why 90%+ of miners would turn off their rigs in a day or two if the price fell.

https://medium.com/@KawaiiHolocaust1488/the-bitcoin-mining-bubble-why-bitcoin-s-low-price-is-an-existential-threat-b645586db835

If you think there's an error in any of my premises or my math, then point it out. So far you haven't refuted any of the assertions in my article.

>>824978
Are you an paid anti-bitcoin shill?

Do you have a 20x short on OkCoin?

I bet you do you Chosen One

>>824977
>On January 2014, the hash rate was around 8 million GH/s.
>Today, with a price much, much lower, the hash rate is comfortably over 300 million GH/s.

This is very easily explained.

Mining machines became more efficient.

Next.

>>824985

https://blockchain.info/charts/hash-rate

>the hash rate will magically drop 99% because muh maths says so

Literally get out

>>824984

My arguments stand on their own merits.

I will point out though that my articles do not earn me any money. Medium does not pay or reward users for their articles, and there is no advertising revenue.

I write primarily for two reasons:

1. Out of concern for the vulnerable who might otherwise fall for the 'GET RICH QUICK' rhetoric. One particularly movement instance of this was when I read some old pensioner saying he was putting his retirement money in Bitcoin because he needed more money to care for his disabled wife - this was 2 weeks before the crash in December 2013.

2. To deride and laugh at the expense of shitcoiners who embody greed, ignorance and either underhanded treachery or stupidity.

>>824992
Okay, so you are KawaiiHolocaust1488?

topkek.

I'm not saying there is an error in your maths, in fact I think it's cool that one can actually calculate something like this, and be totally accurate, so Kudos. (try doing that with the current financial system..)

Instead I'm saying there is an error in your assumption.

You cannot just assume 99% of miners will drop out between one difficulty adjustment, calculate the length of time it would add on, and present it as a fact.


And you talk on your high horse about you've somehow found the Achilles heel of bitcoin that nobody else has even had the audacity to think of.

You, KawaiiHolocaust1488, are a genius.

You should get into public speaking.

>>824987

The price has never fallen to the point where it would be irrational for all miners to continue mining, for more than ~1 day.

If it was announced on the news that the price of water would surge 50,000% for the following day, because some computer bug would mean 99% of all national water systems would fail to work on that day, would you panic and start filling up all the vessels you could get your hands on?

You would only start to seriously worry and have a rethink if that computer bug continued for 3 or 4 more days..

>>824998

>You cannot just assume 99% of miners will drop out between one difficulty adjustment

My assumption is that 99% miners will not continue to mine irrationally - that is, they will not continue to mine once the cost of electricity exceeds the rewards they are receiving. I think this is a reasonable assumption to make.

I used 99% as a conservative figure; to hold my argument up to a high standard. It doesn't have to be 99%, it could be 90% and have the same effect (I think at 90%, it was something like a month of irrational mining just to get to the difficulty readjustment).

Another thing which I did *not* mention in that article, but which I will mention now, is that difficulty can only readjust by a division or multiplication of 4. So instead of readjusting to match the remaining 1% of miners, it readjusts to match 25%!

>And you talk on your high horse about you've somehow found the Achilles heel of bitcoin that nobody else has even had the audacity to think of.

I'm sure I mention in the article, and I should have if I didn't, that the developers of Bitcoin have known about this problem for a very long time, but have done nothing about it. I explain that the reason they have done nothing about it, is because they can't do anything about it.

>>825001
You have a practical problem to a theoretical scenario.

It just doesn't have cojones bro

99% of miners will not shut down within a 2 week period.

unless ebola

>>825012

>99% of miners will not shut down within a 2 week period.

My assumption is that 99% miners will not continue to mine irrationally - that is, they will not continue to mine once the cost of electricity exceeds the rewards they are receiving. I think this is a reasonable assumption to make.

>>825014
20%, yeah I get you

50%, man you're pushing it

90%, get outahere man

99%, nigga wut

>>825014
Reminder to check the chart of time:

https://blockchain.info/charts/hash-rate

>>825015

If you have nothing to contribute to the argument then I suggest you stop responding.

All you're doing at this point is shitposting.

'Nigga wut' and 'get outahere man' is not argument.

You have no idea how happy it has made me to watch the Bitcoin price fall by 80%+ and see all the greedy bagHODLers lose most of their money, or in the case of MtGox, completely wiped out.

It's a kind of poetic justice; Bitcoiners fell on their own sword, and were fleeced by their own kind.

The only sad thing out of all this is some of the most vulnerable in society have lost a fuckton of money, and some of the most corrupt (i.e. Garza, Brewster, Zhao Tong, Karpeles, etc.) have walked off with the money.

>>825022

Here, read this response:

>>824970

>>825029
It's the free market mate.

Or do you want the nanny state to make sure the bad guys don't be mean to you? :(

>>825029
If 99% of miners stopped what would happen to the supply and then the price of Bitcoin?

Reading your blog is not something I'm going to do. Can you sum up your stuff for me?

>>825029
>You have no idea how happy it has made me to watch the Bitcoin price fall by 80%+ and see all the greedy bagHODLers lose most of their money, or in the case of MtGox, completely wiped out.

And as a bitcoin enthusiast, that has been gutting to watch. But what are you going to do when the price goes up again? Will you kill yourself? I mean look, you seem to be dedicating your life to bashing something that you don't even understand. It seems that you are extremely butthurt.

>>825081
>But what are you going to do when the price goes up again

Lol

>>825092
It's fucking hilarious because these idiots NEVER acknowledge the fact Bitcoin went up over 1000 because of market manipulation:
>>824186

>>821412
A very volatile, dangerous one, sure.

I was looking at buying them back in 2012. Like maybe 5-10 of them just for shits and giggles. If i'd have done that, I would be sitting pretty...

>>825029
PREACH
btw I know you have a noble cause, but no matter the blatant evidence, or alluding to a historic date like 2013, idiots will still bet their life savings on the "Get rich" scheme. I'd rather just sit and watch, social experiments are what makes life good.

>>825060
nice red herring; I doubt you a clue what you are saying. It's not free market this is more black market dealings considering the SEC would now allow such blatant market manipulation.

not*

What about miners with free electricity or solar powered mining rigs? Will they shut down too?

not sure if im talking to the right group. but i love the work u and ur collective do. about damn time people start standing up 4 whats right. much respect to all of ya. u have my support i may not be a hacker but i have my own niche. this may be the only time i post but if ur in az ever hmu. i know all of u are good enough to find me. so good luck and dont back down.

I honestly believe decentralisation will be the liberalisation this world has sorely missed.

/biz/ is pro crypto, because anon is pro crypto

libertas aequitas veritas!

>>825236

> the SEC would now allow such blatant market manipulation

Not quite sure if that is a typo. Bitcoin is no more manipulated than Gold or the stock market, let alone the China stock market, which could barely be considered a stock market with such blatant disregard for real supply and demand.

While the SEC deals with the US stock market, there appears to be no limit to how much banks and such can get away with. So when it comes to Bitcoin, it is the same shit, different pile relative to everything else going on in every other market.

We are currently witnessing the most fucked up time in the history of capital markets.

>bitcoin is just a fad, a flash in the pan, it has no long term objectivity

Said no-one ever

>>825249
Will do mr. Nakamoto

>>825274
People have said that. Quite a few. Quite a few have said the opposite. No perfect way of telling now, but, with violtality as it is, it likely won't get wide spread adoption. If it stablizes and someone can find a way to get the common man on board, it could work.

itt: many future suicides when bitcoin takes off and they're still nocoiners

>>825269
gold and silver isn't manipulated, it only rises when a crisis ensues which is why it rose after 2008.
China has too much government intervention and isn't a free market so that's a red herring. Yeah I agree about the banks though. Agree with your last remark too

Shillcoiners still shilling their investment which has continued to fail within a reasonable time period near OP's "call"?

Yep.

Keep crying about your losses cuckcoiners. No one cares if your money is good for hookers or paying for Overstock bedsheets.

Down is down.

>>825559
It's back up...
OP was still wrong.

>>825227
Hindsight bias. You woulda sold lower than 1k and if you look at how much money actually enterd after 1k price it wasnt much , not many were able to unload at that price

SDC moonbound. nice. if it breaks 70k i think it'll hit 100.

>>825599
>money entered.

You have a very simplistic view of the market. One bot, does not make the price of Bitcoin, X. There were probably thousands of bots running pushing the market in all different directions, which all contributed to the real market price. Including on more than one exchange.

Not many peaople caught the $1000 peak but many people sold at $600 - $800. Anyway you're missing the point. The point of it isn't to try and speculate on an exchange with Bitcoin. Those people on gox got fucked by their own greed. The point of Bitcoin is to buy and sell services and things in Bitcoin to create an alternative economy. It's not Muh get rich quick scheme at all, that is the actual benefit to Bitcoin. A chance to have a debt free economy.

>>825719
>It's not Muh get rick quick scheme
but that's exactly how it's treated, how it's pumped, and how it's dumped. Then retards come on here and make a thread telling everyone to buy bitcoin so they'll have someone they can dump them on.

>>825726
>Pump and dump.

More like pump and hodl. Get with the times grandad.

>>825726
Funny how the vast majority of Bitcoiners will buy with fiat currency, hold onto their coins, then sell them to get back their fiat currency+profit.
Why don't they directly use their coins to pay bills/buy groceries/buy gas etcetera?

>>825782
>the vast majority

>>825719
nice strawman argument; all he said was how some people thought they could unload at a higher price back then, essentially market timing. Hindsight bias means that since the event happened already, you think that if you just invested you would've made lots of money. It's like saying wow, Google is a high price, if only I invested back then. The problem is there were 1,000 similar tech companies to Google. Hindsight bias at it's best.

>>825864
Yeah, I forgot about the 1,000 similar things to bitcoin, that also happen to be the first

/s

>people buy anonymous internet money
>trading money that can be spent anywhere for money that can only be spent in very few places

HUURRRR DUUUURRR HUUUUURRRRRR BUYYYRTTTRRJSHZHHAHA

>>825782
>spending internet hacker money on muh groceries

Soccer moms please leave

>>825874
>HUURRRR DUUUURRR HUUUUURRRRRR BUYYYRTTTRRJSHZHHAHA

Nice oversimplification retard.

>>825886
Don't get mad at me. I didn't make you fall for a scam.

>>818602
>yfw you're a strong independent murifat
>yfw you don't need no state

>>825887
Show us on the doll where satoshi nakamoto touched you.

>>825893
I didn't know who that was, had to google it. Lmao God of scams

>>825910
are you seriously telling me you've never heard of Satoshi Nakamoto?

>>818602
>bitcoin is still a thing
my sides

>>825927
Lol I know

>bitcoin

>>825927
>this is bad

all the trembling, desperate, depressed nocoiners itt. what a precious bunch of petals they are, it's mildly adorable.

I have a feeling that most of the coingfags never bothered looking into the technical background of bitcoin and its caveats, also ignoring that the whole thing shifter from the initial "a currency that can not be contolled by the gubment" to a pump n dumped, manipulated asset that is only kept alive by greed and get rich dreamers and scammers. That defeats the whole purpose, now its a pure business, one to get rich takes plenty others lose. Simple as that, and most coinfags will fucking lose.

>>826312
>I have a feeling

>>826316
You've posted 23 times in this thread. Enough damage control for one week

>>826318

>>826320
Maybe if you keep posting you will stop regretting your bitcoin purchases

>>825060

>It's the free market mate.

I can be more precise than that: It's a pyramid scheme.

>>825065
>Reading your blog is not something I'm going to do. Can you sum up your stuff for me?

I've already summed it up

>The network would come to a virtual standstill that it would not be able to recover from for several years.

Protip: Get an attention span.

>>825081
>But what are you going to do when the price goes up again?

As someone else has already responded to you with, the Willy Report has shown that the bubbles in Bitcoin were the result of insider trading on MtGox.

MtGox is now gone, and no exchange will have the market domination Karpeles had, let alone the audacity to defraud people of out of half a billion dollars as he did.

Bitcoin is just a pyramid scheme. Most of the money has *already* been cashed out by the 'early adopters' (and frauds) in the form of Lamborghinis, mansions, etc. - don't you remember 2013?

For every Lamborghini, that's perhaps the investments of several dozen bagHODLers. They took the majority of the cake with them, and now there's only a few crumbs left to fight over.

When those people realize they're not going to get even their money back and start making a dash for the exits, only a few will make it out.

We have already seen an exodus over the past 1.5 years, with 80%+ of the nominal value wiped off, but it ain't over yet. What will be the final nail in the coffin I suspect is either

(a) failure of the Bitcoin network, i.e. mining collapses or blocks/fees become too large.

(b) A newly developed altcoin with a bunch of superior features takes the limelight. There has been a natural selection of sorts amongst altcoins, and it won't be long until something compelling emerges.

>I mean look, you seem to be dedicating your life to bashing something that you don't even understand.

You know what's most ironic about what I do? By pointing out these problems with Bitcoin, I am reinforcing the unwillingness of shitcoiners to come to grips with them. Now they must oppose that the problems even exist.

You see, I have no stake in Bitcoin. Shitcoiners do. It is in their own best interest to resolve the problems with Bitcoin. But if they ignore these problems, they are cucking themselves out of their money! LOL

>>825227
>I was looking at buying them back in 2012. Like maybe 5-10 of them just for shits and giggles. If i'd have done that, I would be sitting pretty...

The question no one seems to ask of themselves is this: What price would I have sold at?

Suppose you bought Bitcoins at $5 in 2012. At the beginning of 2013 you see the price of Bitcoin has risen to $30. Do you sell? After all, this is the peak price of the 2011 bubble. No? Well what about $50? ..$100? $500???

You see, even if you were fortunate to buy at the right time, you wouldn't know when to sell. And if you were a genuine 'holder', then you would end up never selling and be too late.

Not to mention that the odds are stacked against you when it comes to predicting when to exit. Perhaps only 1 in a thousand would have been the one to sell at $1200. Perhaps 1 in 10 to sell at above $800. Remember, with Bitcoin you only get out what you put in. To have a great winner, there must be a great many losers.

>>825239
>What about miners with free electricity or solar powered mining rigs? Will they shut down too?

There is no such thing as 'free electricity'. Solar power has a value which is well above standard electricity cost. You can feed solar power into the network and get paid for it. If solar electricity is really free, why doesn't everybody have it? It's not free. The equipment costs a fuckton of money, and if you're lucky it produce enough electricity to pay itself off after several decades *with* a government subsidy for feeding in electricity to the network.

Bitcoiners #BTFO by truth

>>826347
>We have already seen an exodus over the past 1.5 years

Gee, I hope this exodus continues

>>826354
http://bitcoinobituaries.com/

Add it to the list

LOL

>>826361
fix'd

>>818602
This is what we call a pump and dump scheme kids.

>>826381
Incorrect, it's a buy the dip scheme

>Secured by math™

>>826384
Fanatical anti Bitcoin fundamentalist.

>>826354
>CNBC says stay away from bitcoins.

I'm afraid you've just posted irrefutable proof that bitcoins will be a huge success

>>826349
There's a bitcoin mine in a German hydro electric plant. The son of the owner and he has free electricity. I'm not bothered to look it up.

>>826383
No, because commander dicks-in-ass (FUDEYGdp) has already bought bitcoin and is now attempting to drive up the price with speculation so he can sell. That's the definition of pump and dump.
BTFD only applies to the stock market where players are attempting to stop a fall by telling people it will be okay --and this part is very important-- in order to keep a bubble from collapsing.

>>825874

>>826463
http://www.bloomberg.com/news/articles/2014-04-16/bitcoin-miner-taps-dad-s-power-plant-in-virtual-money-hunt-tech

there you go.

The solar powered miners will not shut down for precisely the reasons mentioned above. They need to recover there initial costs and will mine no matter what the price of bitcoin.

>>826525
lmao so funny

http://isbitcoindead.com

god dammit. livejasmin now takes btc. so much for muh MFCBTC billlions.

https://www.youtube.com/watch?v=K2ku1A5Ox8U

>>825582
Say wut?

>>826684

I'll repeat it, since you seem to have missed it:

There is no such thing as 'free electricity'. Solar power has a value which is well above standard electricity cost. You can feed solar power into the network and get paid for it. If solar electricity is really free, why doesn't everybody have it? It's not free. The equipment costs a fuckton of money, and if you're lucky it produce enough electricity to pay itself off after several decades *with* a government subsidy for feeding in electricity to the network.

The father who 'donates' the electricity in that article btw, says he is/was depending on a return from mining Bitcoin:

>The 60-year-old retiree is worried the expiration of subsidies in 2016 will force them to shut the plant, an heirloom that’s been in the family for six or seven generations.

That article was written over a year ago when the price was at $500.. wonder how Daddy is getting on now.. the poor fuck.

Quote from the son at the time:

>“It all depends on the value of bitcoin,” the younger Wilhelm said. “If you’re mining at this stage, you’re not doing it to make dollars, you’re doing it because you believe it will go up.”

LOL!

>>826797
>invest in solar panels and mining equipment
>specialize
>price of bitcoin drops

The only way out is to keep mining using your specialized equipment to recuperate costs. If the difficulty drops you earn more bitcoin at a lower rate. It's akin to fracking and the price of oil. You can't stop because you have creditors and sunk costs to recover.

It will take longer to pay off the initial investment but the last thing you would do is stop mining since your equipment isn't useful for anything else.

This 90% of miners switching off over night is absolute bullocks.

>>826808
>The only way out is to keep mining using your specialized equipment to recuperate costs.

Nope.

We are talking about the reward dropping below the cost of electricity.

Right now, no Bitcoin miner will earn their money back, but at least they can recoup a few dollars (or cents rofl).

However, once the price drops to ~$200 or less, continuing to mine will just cost you more money than you are earning in BTC!

Prominent Bitcoin developer Jeff Garzik on twitter:

>Disappointing. New #Bitcoin Core policy: stealth fee increases … Zero plan to communicate this to BTC users :(

So much for Bitcoin not having fees.

Read this for a clear explanation as to why the block size vs. transaction fee problem will NEVER have an adequate solution, and why transaction fees are set to drastically increase (or otherwise the network fails):

https://medium.com/@KawaiiHolocaust1488/block-size-vs-transaction-fees-the-achilles-heel-of-bitcoin-explained-for-the-layman-505f0dac11de

>>826811
>Buy solar panels
>buy ASICs

Electricity is free. Only cost is initial. Only way to recuperate is to mine. Electricity is free at this point.

You dense motherfucker.

https://www.youtube.com/watch?v=9AmMV-Bmhh8

Not even mentioning malware miners whose electricity is effectively free.

>Electricity is free.

I'm sorry, but please explain: Where do you get free solar panels?

Solar power is worth more than standard residential electricity. You get money from the government for feeding it into the system.

Quote from one of my previous posts:

There is no such thing as 'free electricity'. Solar power has a value which is well above standard electricity cost. You can feed solar power into the network and get paid for it. If solar electricity is really free, why doesn't everybody have it? It's not free. The equipment costs a fuckton of money, and if you're lucky it produce enough electricity to pay itself off after several decades *with* a government subsidy for feeding in electricity to the network.

>>826822

>Not even mentioning malware miners whose electricity is effectively free.

Hijacking standard computers will not earn you Bitcoins.

You would need thousands of home computer, each equipped with high-end GPUs, just to match one modern-day ASIC miner.

About a year ago, they were hijacking home computers to mine altcoins, but I don't think even that is feasible anymore.

The desperation is real. 'Dollar-cost averaging' didn't work out so well for you, did it? LOL!

>>826820
>>826826

>>826820
solar electricity is mcuh more expensive than wind, nuclear, coal, or natural gas

if you're talking about financial cost, it's the most expensive form of energy.

>>826826
>Hijacking standard computers will not earn you Bitcoins.

In the 90+% miners switching off due to electricity costs; it will.

What is the bitcoin price which will switch the miners off I am curious? Especially since electricity rates vary across the globe.

Anyone who suggests that solar electricity is free obviously understands NOTHING about solar panels.

Protip: You don't just decide to pay out $10K on solar panels for the good of the planet.

The government pays you a subsidy (perhaps triple the standard kWh price) for feeding solar-generated electricity into the system.

This subsidy is enough to pay for a significant amount of the cost of the panels, over a period of about a decade.

If you *do not* feed the electricity back into the system, and instead use it to mine shitcoins, you are effectively paying TRIPLE the standard rate for electricity!

You do not get your full money back from the subsidy. The other factor is the increasing cost of standard electricity, which will eventually allow you to recoup your cost and then some after several decades.

>>826836
>In the 90+% miners switching off due to electricity costs; it will.

No, because the difficulty will remain the same until the difficulty readjustment.

The difficulty readjustment occurs once every 2048 blocks.

If 99% of miners switch off, then the block time blows out to 16 hours. 16 hours x 2048 = 3.74 years.

And even once it does reach the difficulty readjustment, it can only readjust by a multiplication or division of 4! That means instead of changing to match 1% as it should do, it will change to 25%.

>What is the bitcoin price which will switch the miners off I am curious?

The price at which Bitcoin mining becomes irrational is approximately ~$200.

No miner in existence can make money at less than $88/BTC.

Full explanation with the math here:

https://medium.com/@KawaiiHolocaust1488/the-bitcoin-mining-bubble-why-bitcoin-s-low-price-is-an-existential-threat-b645586db835

>>826853
>network hash rate is 326,619,735.17 gigahashes/s
> 1155 gigahashes/s using 590 watt-hours of power.
>8 cents per kWh.
>block’ provides a 25 BTC

$88 break even point.

The price is $276 and they are making piss-pots, where's the problem?

>>826822

BTW the guy in that video says in the comments that he paid the equivalent of $1550 USD for that solar panel setup.

Let's the residential price of electricity is $0.15/kWh.. Hell, let's be generous and say $0.25/kWh - that's 6200kWh of standard electricity he could have otherwise paid for.

He's using two 220W solar panels, so to generate 6200kWh (leave aside battery replacement and other maintenance) it would take 8 years of constant daily use (assuming 5 hours of quality sunlight per day)

>>826873

Read the full article before you shitpost

The network does not consist of the latest and the greatest single miner.

$216.88 is the break-even price I come to in the article.

>>826880
Just realized the flaw in all the math on most articles.

>Using kWh to watts

>>826884

There is no such flaw.

220W per hour = 0.22kWh

The word 'watt' alone is not even used in the articles. The word 'watt-hour' is used.

Why are shitcoiners so bad at math? Oh wait, that's why they got suckered into it in the first place.

How's that 'dollar-cost averaging' going?

ROFL.

>>826888
>"Circle or Coinbase are ‘off-chain’ transactions. The idea is that delegating most transactions, perhaps the lower-value ones, to the to third-parties will ease pressure on the Bitcoin network, but of course this would be no different from using Paypal and calling it ‘off-chain’."

>"lower-value ones, to the to third-parties"

>"to the to"

As I read these your argument goes from "bitcoin is too big" to "it's as good as paypal at it's worst."

also:
$88 break even point.
The price is $276 and they are making piss-pots, where's the problem?

>>826894

The best counter-argument you can come up with is that I accidentally wrote the word 'to' twice?

My argument must be pretty damn strong if that's the worst you can say about it.

All of the articles were written at speed, and I'm not bothered to read over them twice to catch typos. The only thing of importance to me is that the points I raise are correct, which you are yet to refute.

The fact is that the assertions and mathematics in my articles are 100% correct.

Sorry for ur loss.

ITT: shitcoiners getting BLOWN THE FUCK OUT by an unwelcome dose of reasoning and logic

>>826898
5 reasons why NOT to buy into the Bitcoin hype

1. “It's anonymous or pseudonymous..”
>"you must now use an exchange to get Bitcoins."
You can also create something of value or provide a service in exchange for them.

>"they come under the unavoidable influence of national governments,"
Not all governments treat bitcoin poorly.

>"you've got a brand new Lamborghini parked outside your house and registered in your name, they might send you a polite letter asking you to account for the fact, when as far as they know, you only work an underpaid part-time job."
Provide a product or service in exchange for bitcoin then pay your taxes. What's the problem?


2. “It's feeless or has low fees..”
>"When you buy Bitcoin"
What about all the products and services you can offer for bitcoin so you won't need to buy them?

3. “It allows merchants and buyers (i.e. 'Me!') to save money..”
>"offer a discount"
Why? Just use bitcoin to capture extra market share because the extra advantage isn't a discount it's convenience like AAPL.


4. “It will make me get rich quick..”
>"Willy bot"
Whose to say another bot won't inflate the price? Just saying.


5. “It's a social revolution worthy of my support..”
>"'Bitcoin Foundation', a self-proclaimed authority, attracts all manner of sociopaths including child molesters"
Mostly ad hominims


also:
$88 break even point.
The price is $276 and they are making piss-pots, where's the problem?

>>826914

>You can also create something of value or provide a service in exchange for them.

Not anonymous or pseudonymous, and ordinary peeople aren't merchants.

>Not all governments treat bitcoin poorly.

Which 3rd-world shithole would that be?

Because America has already prosecuted people for using local bitcoins (caught through a sting operation, as mentioned in that paragraph you're quoting from).

>Provide a product or service in exchange for bitcoin then pay your taxes. What's the problem?

Here's one problem: Bitcoin is treated as a commodity by many, if not most, national governments. This means it is also taxed as a commodity, and without the exception that is often granted to precious metals.

If you have made a profit on bitcoin, and have not declared it/paid CGT, you are guilty of tax avoidance which is a serious crime.

In Australia, if you are a business which operates as a bitcoin trading platform, you must pay 10% GST each time bitcoin is bought/sold (the reason why Australia's former biggest exchange 'Coinjar', run by the fraud Ryan Zhou a.k.a. 'Zhou Tong', no longer operates in Australia).

If you make any serious money with bitcoin (i.e. over $10,000) enjoy getting your shit fucked up, *especially* if you don't report it or pay taxes on it.

The whole point I'm making here is that bitcoin will not protect you from government surveillance or seizure of your assets. Bitcoin will not protect you from the government, nor help you avoid the law.

>>826914

>What about all the products and services you can offer for bitcoin so you won't need to buy them?

Again, ordinary people aren't merchants, and its pathetic to suggest they could be. What are they gonna do, put the DVD collection up for sale? What would they get out of that, $200 worth of shitcoins?

Besides, it's well known that nobody buys anything with shitcoins anyway except drugs. See: The 97%+ decline in Overstock sales since they started accepting Bitcoin, and the Bitpay figures, etc.

>Why? Just use bitcoin to capture extra market share because the extra advantage isn't a discount it's convenience like AAPL.

Very few people actually use bitcoin to buy stuff, and the price of bitcoin is too volatile to deal with. Bitpay hide the fee in their 'market rate' spread, so you might as well just use Paypal, or accept bank deposit which is free. Plus for non-US, Bitpay have ridiculous pay-out requirements - they won't give you money until you reach $1000 in sales say.

>Whose to say another bot won't inflate the price? Just saying.

MtGox had market dominance which cannot be replicated again. Not to mention that few would have the audacity to do what Karpeles did.

It's over for Bitcoin. Shitcoiners will have to fight each other for the remaining crumbs, as the majority of the cake has been gobbled up by the 'early adopters' who cashed out in the form of Lamboghinis and mansions in 2013.

>Mostly ad hominims

"Ad hominem reasoning is not always fallacious, for example, when it relates to the credibility of statements of fact or when used in certain kinds of moral and practical reasoning" - Wikipedia

Brock Pierce is an actual child molester who did jail time for it. Exposing the character of this people was directly related to the point that 'It's a social revolution worthy of my support' is NOT true. There is nothing worthy of support in Bitcoin.

Friendly reminder that this dumb cunt will never see the light of day again

He is Bubba's boypussy now

LOL!

>>826941
>ordinary peeople aren't merchants

Stopped reading there.

Gambling
BitPremier
Open Bazaar

Face it bitcoin is useful and scarce thus it has a market price.

>>826950

>Gambling

Gambling is selling goods?

>BitPremier

Never heard of it, doubt it has any significant sales (there were previous bitcoin auction sites trying to emulate ebay, but they ended up giving up)

Also, I went to the 'How it works' page, and read this:

>BitPremier’s transaction fee of 5.0% is deducted from the sale proceeds before they are sent to the seller.

LOL

The whole point of your argument of selling goods for Bitcoin was that it was meant to avoid paying fees.

>Open Bazaar

I tried it when they first opened what I think was their public alpha (it was the first linux release, not windows which came later).

all I recall is that it wasn't functional, because I tried putting up an item or two, and also that no one was actually buying anything.

When I checked it a few months later, it was the same - no buyers.

Open bazaar is only a pipedream at the moment, and you have to go out of your way to use it. Buyers do what is convenient; they're not going to configure some application, or go through some tedious escrow/arbitration process on a third-party HTTP mirror just to buy a pair of shoes.

Not to mention that the biggest problem with using bitcoins to buy/sell goods is the volatility. It's way too volatile to use, and Open bazaar can do nothing (doesn't propose to do anything) to fix this.

FOR ANYONE WHO BOUGHT BITCOINS:

1-800-TALK

JUST DO IT

This is Bitcoin in action:

https://www.youtube.com/watch?v=vnm4xFC2xNo

>>826970
Reminder that you cannot assume 99% of miners will shut off in a 2 week period, and claim you've found the silver bullet to a 6 year work in progress that's use has gone only up.

Go home old man, you're scaring the kids

>>826977

The Bitcoin Mining Bubble: Why Bitcoin’s low price is an existential threat

https://medium.com/@KawaiiHolocaust1488/the-bitcoin-mining-bubble-why-bitcoin-s-low-price-is-an-existential-threat-b645586db835

>>826980
Reminder that the price of bitcoin has plumited 60%+ in a day, several times.

Reminder that bitcoin has suffered sever bear markets, often wiping out 80%+ of the market price, even as much as 95%+ sometimes.

Reminder that the hash rate has never followed price.

Reminder to check actual data in making your un-based assumptions.

https://blockchain.info/charts/hash-rate

Literally go away

>>826980
$88 break even
$270 where's the problem?

>>826965
Gambling is a service.

>"The whole point of your argument of selling goods for Bitcoin was that it was meant to avoid paying fees."

I haven't said bitcoin is cheaper or has no fees furthermore are you aware virtually all services charge a fee? Untwist your panties no coiner and pay attention: it's convenient and has the path of least resistance for online financial interactions.

Bitcoin continues to exist

The price is $275

Goldman Sachs and petrodollar shills btfo

>>826946
yeah he got fucking hypercucked. poor bastard.

he wasn't the real dpr. wanna see him? (he's still free, RICH and bossin' it like a pro) fucking legit criminal mastermind.

https://www.youtube.com/watch?v=HYShi9dhhJY

>he told me about a startup (2011) which at first scared me, but after thinking about it, i became more and more drawn to the idea

>>827010
...oh and inb4 doubt. come the fuck at me. this guy is dpr, he was the first, i fucking know it. i've spoken to ross and i think i've spoken to rene. ama. this shit happened.

>>826354
lmao that's ridiculous. that's some imagination (read: retardation) keiser has if he actually believed those things

>>826983
Why are you arguing with no-coiners aka literal retards.

>>826914
Yeah man don't buy into the hype it always crashes
https://www.youtube.com/watch?v=XbZ8zDpX2Mg

>>826354
>muh Warren Buffet
https://www.youtube.com/watch?v=nrSB1sLgWLE

lmfao. Get the fuck out of here you deprecated dinosaur.

>>826970
what a shitty ATM

So the only argument against bitcoin is that the network is too big?

> can't hard fork
> mining difficulty is too hard

>>827157

You do realize that that speech was just before the collapse of the Dot-com bubble right?

Your video just shows that Warren Buffett has a track record of being right lol

The bubble is over. The price is down 80%+, and it's still going down as bagHODLers give up and cash out for 10% of what they put in. You're a loser. Deal with it - or don't; it doesn't matter either way, because the money is gone. Soz for ur loss.

>>827850

Nope, read these articles:

5 reasons why NOT to buy into the Bitcoin hype

https://medium.com/@KawaiiHolocaust1488/5-reasons-why-not-to-buy-into-the-bitcoin-hype-e2842804428e

The Bitcoin Mining Bubble: Why Bitcoin’s low price is an existential threat

https://medium.com/@KawaiiHolocaust1488/the-bitcoin-mining-bubble-why-bitcoin-s-low-price-is-an-existential-threat-b645586db835

Block size vs. Transaction Fees: The Achilles heel of Bitcoin explained for the layman

https://medium.com/@KawaiiHolocaust1488/block-size-vs-transaction-fees-the-achilles-heel-of-bitcoin-explained-for-the-layman-505f0dac11de

‘Grexit’: Why it’s a sham and why Bitcoin isn’t going anywhere. (this article is dated now, but it was proven correct and worth reading)

https://medium.com/@KawaiiHolocaust1488/grexit-why-it-s-a-sham-and-why-bitcoin-isn-t-going-anywhere-c15353e5eefd

>>827888
>pic related

People wouldn't shit on Bitcoin so hard, if it didn't attract the most buttfucking insane people who won't stop shilling for it like it's the second coming of Christ or something.

>>827888

$88 is break even for miners

Price of bitcoin is $270, where's the problem?

>>828169

The break even price for Bitcoin miners is ~$216, as explained with math in this article:

https://medium.com/@KawaiiHolocaust1488/the-bitcoin-mining-bubble-why-bitcoin-s-low-price-is-an-existential-threat-b645586db835

Quote:

>Using the same math process above, and with the new figures inserted, we get a break-even price of $216.88/BTC.

Note: This is not the price to earn their money back on the mining machine they paid for, only to recoup the cost of electricity incurred. Thus continued mining at below $216 is irrational.

LOL!

>Coinffeine (now launched and live) is an open source, peer-to-peer (P2P) bitcoin exchange platform. With Coinffeine you are able to buy and sell bitcoins securely and anonymously without having to rely on a centralized exchange. It's like BitTorrent for your bitcoins!

>>828235

thank you for your input Mr Shill

pic somewhat related

>>828235
>Coinffeine
that fucking picture on the page
made me cringe

>>828203
>The break even price for Bitcoin miners is ~$216
>The price has been to $166 in January
>The price has been below $20 for most of bitcoins histroy

https://blockchain.info/charts/hash-rate

Stop spreading lies.

The reason you are wrong, is if miners do drop out, the ones who are left now have a larger piece of the pie with the same equipment.

The price could be $1, providing the difficulty goes down somebody with a current "expensive" setup could still remain profitable.