/biz/ - Business & Finance

>>8968709

I wonder how butthurt will you be when Bitcoin is over 50k usd.

>nocoiner cope, the post

>>8968722
why would it ever get that high? what is bitcoin contributing to the world

>>8968747
Don't worry, you will be butthurt that we became millionares while you where coping on the sidelines doing whatever you do. Hopefully you are either a millionare, have a good job that you like and are not a wageslave, if not, you will be mega butthurt.

>>8968709
How many threads are you going to make faggot?

>>8968709
How's your short from 6800 doing buddy?

There is no saving them OP - at this point the blatant market manipulation, almost 1 mWh per transaction energy usage, woeful security of tying irreversible funds to a private key stored on a hard drives, massive volatility, lack of use hasn't stopped them, then nothing will.

>>8969090
>woeful security of tying irreversible funds to a private key stored on a hard drives
congrats on showing you don't know anything about crypto

>>8968709
>none of these coins have any practical use
I work with an east asian company that crowdsources work to the developing world, they use cryptocurrency to pay the workers in smaller automated increments with virtually no tx fee.

>>8968747
thats actually an understandable question and a legitimate concern. but ill tell you what its contributing that nobody is giving it credit: innovation

bitcoin uses up incredible amounts of power to mine it, and the hardware costs, both monetary and resources, are exponentially rising at an unsustainable rate

which means 2 things: either everyone stops mining bitcoin (lol) or companies devise ways to making computing technology more efficient, cost less, and use less resources

bitcoin will drive the path towards hyperefficient technology and quantum computing due to its slow and inefficient nature

>>8968709
every goddamn post with this jpg has some smug retard nocoiner trying to look cool during dips

>>8968944
how exactly are you going to become millionaires? bitcoin already had its run, now it will slowly crumble. same with ethereum. all other coins are even bigger jokes

>>8969075
i would never participate in this "market"

>>8969148
i'm sure they're only doing that to be "first movers" in the space. too bad no one cares about a shitty little asian company's payment methods

>>8969151
>which means 2 things: either everyone stops mining bitcoin (lol)
it's this

>>8969176
it's probably the same faggot.

>>8969278
>i would never participate in this "market"
Then why should anyone take your opinions seriously? You have zero skin in the game and thus your opinions are completely worthless.

>>8969101
You have to store the private key somewhere, and if someone takes your private key, then you've lost your funds.

>>8969151
This is like arguing that if we randomly chose to stab 25% of the population every year, it would rapidly incentivise better medical technology.

It would incentivise medical technology, but it would also be awful....

>>8969339
>what is BIP39

>>8969278
>bitcoin already had its run
I remember seeing that same line posted by a lama in 2013

>>8969384
>BIP39
password-protecting your key or using a memonic as a key is still insecure as you may forget the memonic or the password in which case your funds are again lost forever.

>>8968709
coffeecoin (COF) my friend (coffeecoin omn coinmarketcap is something different)
Bought during ICO, 10x'd, and now I'm buying my coffee paid with COF.

Heeeeell, it's even free coffee for the rest of my life.
Fresh roasted and delivered.

A 3rd party company from which you can buy all kind of coffee from all over the world is adding COF as payment.
COF platform itself finished the Beta-phase.

Can't wait for the full thing since this is sstill pretty low.

>>8969432
>forgetting 12 words
Brainlet

>>8969278
Ok, good luck with your wageslave life i guess.

>>8969307
first post i've made

>>8969322
that's like saying i can't criticize a ponzi scheme (like bitconnect) unless i'm balls deep in it, which is obviously not true

>>8969278
Its one of a dozen companys I work with that do the same, this east asian one raised $100 million and no one knows at the company that they pay third world workers to do the bulk of labor except one department and its only possible due to crypto. Otherwise theyd have to go through a middleman. They honestly dont care that no one knows and none of them announce it anywhere for PR as its their competitive advantage. They do it because its cheaper. You miss the point of crypto like most people but thats just the stage all of this is still at.

>>8968709
>none of these coins have any practical use

Steemit is a decentralized social media platform that has more use than almost all coins right now. Its a highly censorship resistant platform which is very important these days and it also has live stream video images and various other tools.

If / When EOS goes live it will be a platform to make platforms like steemit and god knows what else.

Steem and EOS are THE fucking coins right now.

>>8969465
so they take advantage of an untapped desperate workforce using scam tokens instead of hiring local workers for an honest wage. gotcha

>>8968709

Keep up the good work, Cohen.

A few more shekels have been deposited into your account.

>>8968747
People said the same thing when Bitcoin was $10, now they are crying

> gambling what little you have in order to feed a scam
Oh no! People are gambling with money they can afford to lose! Close down all casinos! Stop all lotteries! WON'T SOMEONE THINK OF THE CHILDREN

>>8968709
Ha, ok, here's one for ya, xvg is usable on a few major porn network sites. also a very private coin in general. Many such use cases exist, have spent all kinds of coin on all kinds of goods, physical and digital. If something is accepted in a barter or exchange it has some intrinsic value to it, that's how I see it at least.

>>8969538
They can convert it to fiat as soon as they get it you brainlet.

Obviously im a boomer, nocoiner, etc. Just please guys don't put more money than you're willing to lose into crypto. Make sure you've paid off your debts and have 3 months expenses in the bank before you put money in.

>>8969461
Look, if you have no skin in the game, your opinions are effectively worthless.

If your opinions on Bitcoin were worth anything, you would be short right now, you would back them up with actual money.

You have no skin in the game -> you have nothing to lose by being wrong -> your opinions are effectively worthless to me

>>8969539
i wish i got paid for this shit

>>8969579
yes, i admit i wish i bought bitcoin at the beginning of the ponzi. i'm just wondering why the rest of you are propping up a dying ponzi while the early investors are clearly long gone

>>8969588
would you go to a casino that's only game was openly manipulated by the casinos themselves? would any sane person want to play that game?

>>8969538
Its more than they could earn locally, but yes its far less than they would have to pay a first world worker. This is really the way things will keep going. If a developing world worker can do it far cheaper than you and it doesnt matter if they perform the work online, it will end up being done by them. Fortunately it will raise the wages of the developing world, but unfortunately it will probably lead to a decrease in wages in the developed world. No one falls for the argument anymore about muh poor first world workers, you're outnumbered by the untapped desperate workforce and automation. Invest in ponzitokens today to try to get rich or get left behind in the global workforce.

>>8969687
>I don't know what a Ponzi scheme is

Shig on, my dude.

>>8969647
why would i participate in such a clearly rigged game. all the negative opinion and logic in the world wont dump this retarded hulking monstrosity for long. again, no point in playing a rigged game. i suggest you do the same

>>8969697
i doubt that shit will fly for bigger companies. maybe a few smaller asian ones can get away with it but no global conglomerate will want to do that, and that's what it would take for the adoption cryptards want so badly

>>8969687
You can easily short Bitcoin futures on a regulated futures exchange like CME.

But you and all the other faggots like OP won't because that would involve having skin in the game rather than just shouting at people incoherently from the sidelines.

Nocoiners are truly a pathetic breed.

>>8969890
> again, no point in playing a rigged game. i suggest you do the same
So you admit your opinions are for all intents and purposes worthless? And that you have nothing to lose by being wrong? Why should ANYONE take your opinions seriously in this case?

You can short on a well-regulated exchange like CME.

>>8969687
>early investors are clearly long gone
get back to r/buttcoin, faggot

I'm new as fucking new gets when it comes to cryptocurrencies. Please send help.

>How do you exchange them for dollars?
>Can you buy things like physical gold with them?

Thanks in advance, fellow money-crazed slime buckets.

>>8969964
>How do you exchange them for dollars?
Get on local bitcoin, or craigslist. Get the cash ready and a gun, make exchange in a dark ally after midnight. Or google how to buy bitcoin with a cc
>Can you buy things like physical gold with them?
>Buying Gold
Yes, but than you already lost

>>8969913
>>8969893

i don't think you understand what i'm saying. it isn't the platform that is rigged. i'm sure a well-regulated exchange like CME won't scam me out of money. i am saying the entire market is rigged unless you're an insider, so i may get lucky or whatever shorting but i'm not a degenerate gambler anyway.

don't listen to me, i'll be there when you lose it all.

>>8968709
Dow Jones just partnered with a major crypto currency. I guess Dow Jones is a scam too? I'm sure you are much smarter than them. Sorry you missed out on the biggest financial opportunity in your lifetime.

>>8969996
So you have no stake and you expect people to take you and your opinions seriously when you have nothing to lose by being wrong? Why?

Bulls and bears are in a constant chess match and you are sitting on the sidelines screaming to anyone who will listen that chess is rigged and you shouldn't play. And then you wonder why people consider you an irrelevant idiot.

>>8969993
>Or google how to buy bitcoin with a cc
I am asking about selling bitcoin for dollars.

>Yes, but than you already lost
I just mean as a way of extracting the value out of whatever amount of BTC I have into another form of wealth. Also, how would I buy physical gold with BTC?

>>8968709
Now here's a copypasta I haven't seen since the last bullrun

>>8969890
Yeah I can see that, a lot would have to change before it could really see global adoption and normal fintech is working on speeding things up on their side so who knows where all this actually goes. I still view the main purpose of cryptocurrency as just an online digital currency, something internet/community owned up until 2013 when people saw it moon to $1k and then MLM/getrichquick people rushed in and worked to push it to the current bubble. Either way its interesting to see it all unfold.

>>8969964
You sorta miss the real point of crypto if you plan on holding just to later exchange it for fiat money. The real goal and purpose is to use crypto to buy stuff and as a means of storing your wealth (instead of having it in a bank), and being in full control of your own finance (instead of banks controlling it and giving you permission to send and receive). You can buy stuff already, and it will become more easy as time goes by. More and more (normal) online shops are accepting BTC and (more importantly) BCH as payment.

>>8970008
>Dow Jones just partnered with a major crypto currency.
Which? Also, I am not that anon that doesn't even know what a Ponzi scheme is.

>>8970008
and which one would that be? do you even know what the dow jones is?

>The Dow Jones Industrial Average, or simply the Dow, is a stock market index that shows how 30 large publicly owned companies based in the United States have traded during a standard trading session in the stock market.

so 30 companies from the dow jones partnered with the same cryptocurrency? IBM partnered with stellar yeah, but i'm guessing that was to stay relevant.

>>8970086
How did you end up here if you are not even able to use a simple search query on a search engine of your choice?
But let me help you
>How to sell bitcoin
>Extract value
Put up an offering to sell bitcoin for whatever on craigslist or local bitcoin, get gun and bitcoin ready, go to said ally after midnight, make exchange.
OR, use a fucking search engine

>>8970111
Well I did say I was new. Also, I can't pay my rent with Bitcoin. I still need dollars for things like that.

No, I'm not trying to go 24/7 bitcoin living. Just trust me... I, in my situation, need a good way to turn biitcoin into physical stores of wealth or into liquid currency in the United States and Canada.

>>8970111

related info / useful knowledge:

https://www.youtube.com/watch?v=jduVN643Prc

https://www.youtube.com/watch?v=UYHFrf5ci_g

https://www.youtube.com/watch?v=sbD0kiTddEs

>>8970173
don't fall for the bcash shills.
bcash is a hard fork that only profits those who had a bitcoin stack prior to the fork; means they received it for free while they expect you to pay for it

>>8970150
Look man, I said I was new to this stuff. When I did some googling for a way to turn bitcoin into dollars or buy things with bitcoins, I got dozens of exchanges. I am new to cryptocurrency, so I don't know which t trust yet. This is why I am asking.

It seems like everyone is saying their way is better and more secure, etc etc. I want a straight answer from people that know, not someone trying to sell me on a service. I have been in sales (fundraising, really) long enough to know not to trust salesmen.

>>8970054
why does anything have to be at stake for someone's opinion to matter? give me a real world example for how that would apply.

>>8969996
>heh i think its all a scam but i wont put any money behind my assertion because i am le rational fencesitter
die faggot

>>8970226
Without skin in the game, you lose nothing by being wrong and thus you can spout whatever opinions you want without regards to being correct or accurate.

Would you take weight-lifting form advice from someone who does not lift?

so this is the power of autism... woah

>>8970285
yeah he claims it's his first post but he clearly posts over and over again

he comes to /biz/ but he doesn't trade

pretty sad

>>8970220
okay, shitposting aside
If you just like to speculate on the price, go with the well established and regulated exchanges like coinbase (I hate to recommend it but it is the easiest). You simply have to register, go through a know your customer process (provide them proves that you are you), send them money per bank wire and you will receive your coins in the wallet they provide. If you like to sell them again, just hit the sell button and bots will buy em. If you like to buy stuff with whatever coin, go to the page of the seller, copy paste his coin address, use your coinbase GUI to send bitcoin to tthe sellers address and receive goods. Try not to be scammed, means don't send a blinking elk asking for your credit card number the coins. Do your research on whoever you are dealing with, coin payments are not reversable

>Reposts: 505

>>8970269
i don't need any skin in the crossfit game to tell you that it's dangerous and for retards

>>8970285
i literally just saw this picture and copy and pasted it. no idea who the other guy is

>>8970385
>i don't need any skin in the crossfit game to tell you that it's dangerous and for retards
Unless you are advocating for an alternative, then, yeah, your opinion is worthless because you have 0 skin in the game.

Do you even trade anything at all? Do you trade stocks? Why do you come to /biz/? You sound like a complete loser.

>>8970443
What is trolling and/or sentiment analysis

>>8970315
Very good info. Thanks. A few followups:
>coinbase (I hate to recommend it...
Why do you hate to recommend it?
>blinking elk
This has to be a reference to something. I just don't know what.

>>8970461
>sentiment analysis
implies skin in the game looking to profit from sentiment analysis

>trolling
for losers like I said.

>>8970466
He could get paid in dollar by somebody with skin in the game to do it, especially if he uses always the same avatar faggotery. Or he simply lies about not having skin in the game
>>8970467
>reference
https://youtu.be/IfXMN3VhikA
could only find the German version and actually it is a talking moose wants Hoomers credit card number. Language barrier
>coinbase
shit rates, shit trading engine, literally the normie exchange. Better go with bitstamp, it is as established but sits in Europe, which might one day be problematic for US users

>>8969151
basically what you are saying is that bitcoin in itself will fuel technological innovation to the point that it will kill bitcoin, nice.

>>8968709
read blue ocean strategy. buy link.

>>8968944

Checked. 1keoy

>>8970443
you have no response to my claims except "hurr durr you aren't in this retarded game so you can't say anything". if that's really the best argument i can get from /biz/ then my suspicions will be 100% confirmed

>>8970461
also yes this was my goal all along, i have a lot of crypto lmao

>>8970215
pic related

>>8970173
After Blockstream had taken over Bitcoin and changed it in many ways and fucked it up, the original dev team (in other words not Blockstream) simply renamed Bitcoin to "Bitcoin Cash" (BCH) and the limit was increased to 8mb, from 1mb. That's it. It's that simple.

BTC is the fork - the highly modified version of Bitcoin. BCH is the original Bitcoin.

For those of you who have a hard time understanding this, think of it like this: It's like you have a friend who was a great friend and a great person, but then some really bad people began hanging out with him and they tricked him into doing some nasty mind-destroying hard drugs and they also turned him into a faggot and a leftist. That would make you upset/sad, because he's no longer the same person you remember and you no longer want him as a friend, or at least you wish he would return to his old self. But what if you could get a "copy" of the original version of that friend from the time before he met those bad people who changed him for the worse? That's what BCH is. It's simply the original version of that friend + the friend now lives in a bigger house (8+mb vs 1mb) .

>>8969437
>COF
subtle shill

>>8968709
Don’t care, I’m making money off this scam.

>>8970765
you want arguments? ok here we go

>ponzi market
depending on how far we want to stretch the definition, all markets are ponzi. the very premise of profit depends on others buying for more what you put in

>controlled by a few
define "controlled."

>governments try their hardest to keep people away
aside from china, is trying their hardest? india? their banking regulatory body just said they wouldnt get involved with the market. india didn't pass laws that forbid crypto, nor did the country impose criminal sanctions. south korea? check the news again, they are backing off their recent hardline stance. other goverments are not only allowing the use of crypto and peripheral crypto trading products (like margin) but they have made indications to regulate. that means crypto isn't even a grey market where the law is like "it's not illegal, but its not legal either."

>none of these coins have any practical use
coins have demonstrated over the last 10 years their value as a means for speculative trading. theres also the black market. people move pounds and kilos of product using crypto.

>>8971172
Like bcash trying to get rid of Nods having voting rights to make it even more centralised
Fuck, nuts are really delusional and useful idiots

>>8970765
No seriously though, if you don't even trade other markets shut the fuck up. That's like someone who's never played a sport trying to tell an athlete of said sport how to play.

>>8969151
But if quantum computing actually gets devloped, bitcoin is finished
256-hash keys would be as safe as a 4-character numerical password, making blockchain technology as a whole completely unusable

>>8970285
holy fuck kys op

you're worse than that wildland firefighter

>>8970765
>you have no response to my claims
Because your claims are inherently worthless because they're coming from you.

>>8971733
Lol did you see the post right under that? I have 10k in crypto, i was fucking around this entire thread

>>8971733

this is me>>8971812

it's over. you were bamboozled. >>8970461 got it right

>>8968709
>governments try their hardest to keep people away.
Taxi companies aren't fond of Uber, either. Doesn't mean they don't end up fucked. The same will happen to governments courtesy of cryptocurrencies, because they are simply better money than state fiat, and there is nothing the governments of he world can do about it without completely destroying their power structure.

>>8971172
>>8971253

No matter who is right in this argument, it's a damn problem. If people become widely aware of Bitcoin Cash, it weakens the value of both Bitcoin and Bitcoin cash, because it creates confusion in an already confusing subject. Any person in sales can tell you, when a customer feels confused, they just close their wallet and leave.

This is a damn problem for both BTC and BCH, and has the potential (sorta remote, but worth paying attention to) to destroy the value of both currencies, and therefore literally destroy the wealth they represent.

>>8968747
finding the limits of supercomputing and pushing hardware prices up, REE

>>8968709
>gambling what little you have
I'm only investing money I can afford to lose tho, we ALL are, right?

>>8970665
Read it. Checked it.

>>8969278
>i would never participate in this "market"
go back to /a/ bitchnigga

>>8971376
All you'd have to do is come up with a hash function that spits out even longer hashes, say 213289083924879344533288 characters. Checkmate, quantumcucks.

>>8973300
Yeah, and you only need to inject that into the entire blockstream and userbase with an upgrade that has to be okayed by 100% of miners.
The same miners that would lose almost all of their profits if they allowed the upgrade
And all of this must be done before the price can be tanked by quantum FUD

Sounds feasible

>>8968709
Ok Mr Shizenstein, I’ll immediately sell all of my internet coins which will probably pay my mortgage in 2 years. So glad Jews like you - i mean people are looking out for us low iq early adopters of the new internet.

>>8968709
I personally believe it's a result of excessive financial regulation, lack of derivative products in the US to retail, and artificially low global interest rates.

Good things will come from crypto in the future but as for now it is the wild west.
4chan's collective autism is capable of great things. "NOTHING IS BEYOND OUR REACH"

>>8974099
In all actuality i made this thread to:

A. Confirm that if i posted a thread like this the bull market would keep going because im using THIS certain image

B. Gain sentiment analysis like>>8970461
Said

It seems that this jpg signals to some BIG players to pump the market. Biz is a very special board. I hope they dont come after me after finding this out.

>>8974099
not everyone you don't like is a jew you stupid faggot. there are tons of pro-crypto jews

>>8969890
>I don’t know how to profit even when I can supposedly see that something is rigged

How is the buttcoin reddit holding up these days, Larry?