/biz/ - Business & Finance

[Anonymous No.1201344]

>be 16
>2011
>mom can i buy bitcoins (11$/btc) with all of my savings (11k€)
>no
fast forward 2 years
>1000€/btc

fuck my life desu i could be like a millionaire by now if my parents didn't literally cuck my shit up

i'm a neet now

[Anonymous No.1201353]

I had a friend that literally begged me to buy them during the mining stage when they were going for pennys on the dollar.

I thought he was retarded but he had to have tens of thousands of them before they even hit a dollar.

[Anonymous No.1201361]

>>1201344
>i'm a neet now

you were a neet then too

[Anonymous No.1201364]

>>1201361
no i was in high school that's education

>>1201353
shoulda listened to him anon
what's he up to these days?

[Anonymous No.1201407]

>>1201344
>what is hindsight

[Anonymous No.1201410]

>>1201344
>bought tons of bitcoins
>spent them all on drugs

I regret it constantly.

[Anonymous No.1201411]

>>1201344
So what? You missed an opportunity to invest in bitcoin when it was unheard of. Luck has nothing to do with making it big. If you were able to see the potential for that, you can find something now that is unheard of with great potential.

You didn't make a huge profit, but you didn't take a huge loss either. Do you not have any money now? What's stopping you from investing or starting your own business?

When I was a sophomore in hs I took a business class. We did a stock market simulation as a semester long contest. I managed to turn 50k of fake money into 120k of fake money with almost zero understanding of what was really going on. All I did was buy and short a few different tech stocks based on if it was up or down from the previous day. One of the days I looked at netflix stock and thought "this seems pretty high and its been trending up for quite a while". I shorted it and it dropped from near it's peak to somewhere around $50.

I'm not saying this to brag--day trading real money based entirely on how the market "feels" would be completely insane. But that's the thing, buying bitcoin back before it took off was just as insane, if not more so.

What if it turned out to be as much of a scam as the average normie still thinks it is? Your parent's probably thought they were saving you from falling for the latest iteration of the nigerian prince scam. And in a sense they did you a favor. Don't get me wrong, being a millionaire at 18 would be pretty fucking sweet, but if you were anything like me a tthat age, it wouldn't matter how fiscally responsible you are with limited resources. That would have completely corrupted me and in a way my life would have already been over before I could even vote.

I would have either blown most of it and felt like shit for the rest of my life for wasting it, or I would have invested a majority of it into a stable sources of passive income like bonds or rental properties, and effectively retired before I could drink.

[Anonymous No.1201412]

>>1201344
Look on the bright side... mommy will let you buy them now! Too bad they are never going past $500 again though, huh?

[Anonymous No.1201425]

>>1201412
This nocoiner delusion

I bet despite having zero coins you still watch the price regularly, for whatever reason.

After the halving when the price doubles I'll be thinking of you with steam coming out of your ears with a nice smile on my face

[Anonymous No.1201439]

>>1201344
If you want to wallow in self pity, you're welcome to do that over on r9k. But if there is only one silver lining to all of it, the most important thing you need to take away is this: sometimes you need to follow your instincts, everyone else be damned.

If the whole world is shouting at you to abandon your path, it might be an indication that you are heading towards exactly where you need to be.

The world is full of average and good enough. And to be fair an average and good enough life style is pretty easy to maintain in the first world. But if you want a chance to be great, you have to be willing to give up the good. People are like crabs in a bucket. If one tries to escape, the rest pull them back down.

[Anonymous No.1201441]

>>1201412
I couldn't access my bank account myself because i was under 18

>>1201411
well i live on guberment benefits (500€ per month or so) so i don't have any less money but 10k€ isn't enough to start trading stocks full time

I'm not a wasteful person, my parents are millionaires and i literally had less toys than any of my friends and i feel physically bad when i pay a dollar for a dirt cheap steam game

If i had my million dollars I'd have rented a cheap one room apartment, the kind that i live in right now and follow the news and shit and little by little learn stocks and make a living doing that, it's usually previously poor people who can't handle money when they win the lottery or such

I did a lot of thinking about bitcoins and i saw the opportunity in it. Frankly I don't think there's anything that could potentially give 100x profits quickly like BTC did.

>>1201425
do you think BTC is still worth it? i was looking at it when it was at 10 dollars per one so the thought of buying one for 40 times that tastes sour

[Anonymous No.1201452]

>>1201425
>>1201441

Assuming bitcoin continues to be used for trade, it's acceptance by merchants continues to increase as well as it has been for the past few years, and governments keep inflating the fiat money supply, bitcoin can only become more valuable and stable over time.

[Anonymous No.1201453]

>>1201441
>do you think BTC is still worth it?
Don't listen to that idiot. The last halving didn't affect the price at all. It would be stupid to think this halving is any different.

[Anonymous No.1201466]

>>1201452
>Assuming bitcoin continues to be used for trade
Less than 1% if Bitcoin is used for trade. It's just chinks moving around money now.

>it's acceptance by merchants continues to increase as well
Nope.

> bitcoin can only become more valuable
You're an idiot and why people laugh at you guys. First you act like bitcoin going up is a certainty then totally disregard it losing 70% of its value over a couple years. I'm tired of you guys posting the same bullshit in every bitcoin thread.

[Anonymous No.1201467]

>>1201453
I'm not very seriously considering it, the risk reward ratio is so ridiculously bad compared to what it used to be, but as a long time investment who knows really

[Anonymous No.1201474]

guys how to turn btc into gbp very quickly? like, in the next 20mins. only trying to shift .25. wat do?

[Anonymous No.1201489]

>>1201441
I can't tell you what to do with your life, but I know that if I were in your situation I'd be miserable. However, there are always ways to improve your capital, even if it's not measured in dollars.

I do shitty mind-numbing work overnight to pay for uni, rent, life, etc. But there is always a silver lining. It's a retail store but since there are no customers I can put my headphones in. I could listen to the same music every day just to block out my thoughts, but instead I listen to audiobooks and podcasts. Frankly, I'm a little annoyed that I started to enjoy the work, but it wasn't the work it was the mental stimulation.

Some books that added a lot to how I look at things are:
>Meditations, by Marcus Aurelius (If you only read one book in the rest of your life it should be this one)
>Anything by Any Rand, especially Anthem, Fountainhead, and Atlas Shrugged
>Beyond Good and Evil, Thus Spoke Zarathustra, by Nietzsche

There is so much more but my tastes are probably different that yours. All of the above are freely available on youtube the last time I checked, as well as classics like The Art of War and The Prince. Librivox is an excellent source for free free-domain audiobooks.

Again, I can't tell you want to do with your life, but it sounds like you are already dead despite having a beating heart.

[Anonymous No.1201505]

>>1201466
My entire argument is that if factors A, B, and C maintain their course outcome D is the only logical conclusion.

So it is absolutely correct to say that IF the following conditions are met,
> bitcoin continues to be used for trade
>it's acceptance by merchants continues to increase as well as it has been for the past few years
>governments keep inflating the fiat money supply

THEN it is inevitable that the following is the
result
>bitcoin can only become more valuable and stable over time.


However, I would like to know more about the Chinese moving btc around, if you could link me to some more information I would appreciate it.

[Anonymous No.1201515]

>mfw mined them just for fun just because someone mentioned them on the piratebay irc channel in 2010
>ended up making $350,000 before turning 18 in 2014

[Anonymous No.1201521]

>>1201505
A, B and C haven't been on that course since 2014 so how can they maintain a course they are not even on?

[Anonymous No.1201527]

>>1201489
i've read Atlas Shrugged and Beyond Good and Evil, i've been planning to read more from them

I'd like to read more but it's very time consuming and takes focus so you can't multitask as well and I have mild dyslexia so it's not comfortable if i'm not super into the book

I could try audio books while doing something else but they're so much slower than reading so idk man.

I started doing the couch to 5k thing 5 weeks ago and even though it's not much i've stuck with it and that's pretty good.

At the same time i have so much time to do things and so many things to do but nothing inspires me anymore. I have this sense of dread like death is drawing ever closer, I'm 21 and that's already a fourth of my life gone and let's be honest after 40 life is over if you aren't a multimillionaire or a family man if that's your thing.

I have no job experience at 21, literally no one will ever hire me just because of that and universities are ridiculously difficult to get in because they're free so there's more competition.

I think and think about business ideas and websites but in the end i don't have programming skills or budget or a new great idea that would catch fire like facebook or snapchat

[Anonymous No.1201528]

Wow investing in the past is so fucking easy, isn't it OP?

[Anonymous No.1201558]

>>1201411
How did the people see the potential in bit coin if it was so new? What made them trigger?

[Anonymous No.1201576]

>>1201474
>>1201474
pls

anyone wanna buy via paypal or something? 10% discount?

[Anonymous No.1201593]

>>1201558
It was mostly techies into the idea of crowd sourced/cloud sourced computing. The whole concept was not something the average person had access to back then since the Internet just wasn't as ubiquitous as it is now.

I feel like I'm a grandpa talking about the Vietnam war or something; shit this is like 2008 I'm talking about.

I remember getting into crowd sourced genome computing and bitcoin when I was in college; in 2010 I just wiped my drive that had the bitcoin wallet on it because I got a virus.

I feel kinda stupid about it now, but hell, there was no way I could have known how much those 27 btc would be worth. I was just doing cpu/gpu mining as a pissing contest anyway, me and my friends built our pcs together, so we'd leave them on overnight or on the weekend and see who could generate the most hashes.

[Anonymous No.1201620]

>>1201576
>>1201474
nm, found a way.

[Anonymous No.1201629]

>>1201411
>>1201439
You talk too fucking much. Are you stoned?

[Anonymous No.1202025]

You can still put those 11K€ now before it's still cheap.

Btw im screencaping all the retards that aren't buying as much BTC as humanly as possible, it's going to be fun posting them soon.

[Anonymous No.1202033]

You can still put those 11K€ now while it's still 3 figures.

Btw im screencaping all the retards that aren't buying as much BTC as humanly as possible, it's going to be fun posting them soon.

[Anonymous No.1202064]

>>1201344
You could easily have lost it on MTGOX though. Life is swings and roundabouts.

[Anonymous No.1202063]

>>1202033
Don't know what this chart means

[Anonymous No.1202067]

back in 2011 i bought like 35btc when they were around 3-4$ and told my dad about them and how they are revolutionary and he was like lol its a ponzi get rid of them and i fucking believed

ree

[Anonymous No.1202075]

>>1201344
when my parents bought me ps3 I was asking instead for google shares.

[Anonymous No.1202084]

>>1201410
>spent them all on drugs
thats about all theyre good for...

[Anonymous No.1202099]

>>1202063
Think again.

[Anonymous No.1202506]

>>1202067
Same man, except I never bought. It was my morning habit to check bitcoin threads on /pol/ while riding the trolley to uni. I bought into the hype and was convinced it was going to be amazing, but never bothered investing at all. I was working a shitty walmart job and had ~20k in savings at the time.

I think this will be the current generation's fucking Apple stock, where you just think of how insanely rich you could be if you weren't a damn idiot and listened to your gut.

[Anonymous No.1202956]

>>1202067
>>1202506
Never listen to your dad (or /biz/) about anything that's disruptive

[Anonymous No.1202957]

>>1202033
Legit.

[Anonymous No.1202961]

>bitcoin is the only investment youve seen increase in 5 years
You're still a cuck dumbass, stay away from markets if you want to keep your money

[Anonymous No.1203513]

>implying your wallet wouldn't have been looted by the various viruses written for that exact reason

[Anonymous No.1203761]

>>1201344

>hindsight

[Anonymous No.1204731]

>>1201344
>5 times as much as I had at that age
Well, I suppose the US has freer employment law.

Although by the same token, you can be fucked over more easily.

[Anonymous No.1204748]

The only people who naysay bitcoins are uninformed about some key aspect of them.

[Anonymous No.1204770]

>>1204748
Wrong. I know more about bitcoin that most bitcoiners. I have traded a ton of cryptos before. I even used to sell them on ebay for a hefty profit. I naysay bitcoin now because I am a realist. Bitcoin bubbled up to an insane amount, but that was years ago. Since then it is down less than half from it's ATH. This has been a steady decline over years.

As with any bubble, there is no such thing as unlimited growth. Bitcoin reached a peak in transaction volume, popularity, and hype in 2013. Then it dumped. People cashed out to fiat. People will always take their profits and cash out to fiat whenever they get a chance. The reason for this is because bitcoin can not buy everything that fiat can. This will never change. As long as you look at the price of BTC in terms of USD, you already lost.

[Anonymous No.1206187]

>>1204770
>I know more about bitcoin that most bitcoine
If this was the case, you would be holding as much as possible and you wouldn't be wrong about what you say.

[Anonymous No.1206188]

>>1204770
>The reason for this is because gold can not buy everything that fiat can. This will never change. As long as you look at the price of gold in terms of USD, you already lost.

[Anonymous No.1206189]

>>1203513
It's impossible to steal my Bitcoin because they aren't connected to the internet. Keep coping tho.

[Anonymous No.1206359]

>>1206187
Only retards are holding bitcoin longterm at this point. Thats why theres only like 2 or 3 of you left on /biz/.

[Anonymous No.1206364]

>>1206188
That chart is shit and you completely missed my point because you are dense. You ever pay your electric bill in BTC? I didn't think so.

[Anonymous No.1206366]

>>1206189
>cope
This word does not mean what you think it means.

[Anonymous No.1207561]

>>1206359
>>1206364
>>1206366
cope

[Anonymous No.1207961]

>>1201411
thank you for this.

[Anonymous No.1208090]

>>1201344
>be 8
>hear about stocks
>mom and dad separated
>mom can i buy some stock instead of you giving me things for my birthday/christmas/whenever you buy me anything
>"sure anon that sounds great and youll learn how to save money"
>tells my dad about my idea
>"you dont want to buy stock for him its gambling. its just going to make him have a gambling problem when he's older"

wouldve bought aapl and disney at first whenever i had money. would eventually diversify. this was in 2002 when aapl was priced at >$2 (after accounting for splits) and dis was priced at >$20
who knows how much i would have now

also this is the same dad who let me play a caesars palace game he bought for my playstation. Literally learned how to gamble playing blackjack etc. Actually glad i didnt develop a gambling problem from that

[Anonymous No.1208093]

>>1208090
aapl priced at <$2 and dis priced at <$20*

[Anonymous No.1208162]

>>1201489
>not recommending Gay Science
I'd recommend you check out The Ego and Its Own by Max Stirner. Also Ayn Rand's shit is interesting as a departure from typical statist altruism but objectivism is pretty much a joke.