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/biz/ - Business & Finance

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272553 No.272553 [Reply] [Original]

anyone else considering suicide if BTC goes down further?

32yo, life savings (was 200k, now 91k) in BTC.

Wasn't even /biz/ or 4chan who got me into it.

Fuck

>> No.272558
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272558

Wahahahahah!
What the fuck were you thinking! Oh damn dude!

>> No.272559

http://www.youtube.com/watch?v=RaCodgL9cvk

>> No.272573

>>272553
just wait bro

as long as its not broke, just wait

Eventually its deflationary design will kick in again
(I hope)

>> No.272579
File: 75 KB, 398x750, 1386256539286.jpg [View same] [iqdb] [saucenao] [google]
272579

BTC goes down to 100

OP kills himself

BTC dips under 100

everyone buys

Dollar crashed

its the new world reserve currency

bitcoin at 20.000.000

OP is ded now, if he only wouldn't have killed himself, he would be a rich man now

>> No.272581

>>272553
>32yo, life savings (was 200k, now 91k) in BTC.

bullshit

nobody is this fucking stupid

>> No.272582

>>272573
Remember that BTC is inflationary until 2140.
Doge is less inflationary than BTC for much of the next century, even with its lack of a hard coin cap.

>> No.272584

>life savings in any one asset
>ever
>that one asset is BTC

Christ, it's like you hate money or something.

>> No.272585

screencap of digitally signed wallet balance or go fuck yourself, troll

>> No.272589

I'm still waiting on it to go below $10. That was the last time I bought.

>> No.272591

>>272579
>OP's $200k worth of BTC are lost forever without his wallet key
>OP inadvertently kickstarts a price recovery, spurring further interest in BTC

>> No.272592

>>272581
Oh god, you have no IDEA how many millions of people lose everything all the time trying to play the markets, be it stocks, buttcoin, forex, you name it.

I have a relative who lost $125K back in the late 90s thinking he had the smarts to be a hot shot daytrader. Dotcom bubble popped and whoosh.

>> No.272594
File: 1.97 MB, 290x268, 1388203610276.gif [View same] [iqdb] [saucenao] [google]
272594

>>272579
>its the new world reserve currency
>new world reserve currency
>world reserve currency
>bitcoin
>coin mostly controlled by neckbeards with mining rigs that the Fed can't control
>what shall we use as the world currency guys!
>bitcoin!
loooooool

>> No.272598

>>272581
There was that kid on Reddit who turned his and his sister's $1.2 million inheritance into $150k by going all-in on Bitcoin daytrading and somehow losing on every trade. This while it was on its run from $800 to $1200.

>> No.272599

>>272594
I know dude, it was a funny hyperbole to enforce the joke
Just technically speaking it would be bullshit, I know that

>> No.272626

>>272598
do you have an archive of his posts?

idk I can't believe stories like this to be honest. not only can I not imagine people being that dumb but I also can't imagine why they would be honest about it.

>> No.272624

>>272594
This. USD is the world reserve currency because we were the only country with a fully functional economy after WWII. It stayed that way because we invade any oil-producing country that sells in something other than dollars.

For BTC to become a reserve currency it needs to be majority held by people with supreme and unassailable political power, which is pretty much the opposite description of the type of person who likes to throw a bunch of graphics cards together for cryptographic hashing.

>> No.272632

>>272626
http://www.reddit.com/r/Bitcoin/comments/1r88vl/need_advice_on_inheritance_arbitrage_family_etc/

>> No.272638
File: 951 KB, 328x243, IhopeIambeingtrolled.gif [View same] [iqdb] [saucenao] [google]
272638

>>272598

Please post links, I want to get angry.

>> No.272652

>>272632
>I chose to liquidate the majority of the assets and was left with around $750,000. I am bitter about this because I was ripped off by a shifty individual taking advantage of my ignorance on some things. I should have gotten much more than I did.

oh christ this only keeps getting better.

>> No.272657

>>272553

I honestly wonder if there is a single person on /biz/ who really did 'invest' into bitcoins.

I mean, who would be dumb enough to commit any significant portion of savings to ... this?

>> No.272665

>>272652
Wait, new favorite part of this:

>However, I don't have a legal obligation to provide her with half of the money, that was a verbal contract between my father and I, the in-writing legal stuff allocates it all to me. I made the mistake of telling her that I invested the money in Bitcoin; she has read the news etc on it, so she is under the assumption that there is a lot more money than there actually is. Regardless, I have already paid her first year of college tuition in cash anyway, this was around $30,000. I also bought her a used car to take to college ($5,000). We later found out they don't want freshman to have cars?? So we might sell it and I can give her that money. Ultimately, in addition to other living expenses, bills, car, etc I have around $280,000 left which is currently all liquid.

>30K a year for school
>not reading the fucking rules, or at least renting her a place so she didn't have to put up with the bullshit with "no cars"

Oh my god, this is too good to be true.

>> No.272670

>>272632

Wow, now I'm mad as fuck.

>> No.272678

>>272657
I dropped $200 into BTC and LTC a little over a year ago, and sold it last November to pay a semester of college tuition and build a mining rig.

The mining rig paid itself off when Doge hit 120 satoshi, so I've come out ahead, even if I stupidly held the majority of my mining proceeds because I figured the bubble burst was $1200 to $400 and we were due for another one around now.

>> No.272679

>>272553
Read "Richest Man in Babylon"
and stop being a moron at money.

A fool and his money are soon parted.

>> No.272911

>>272553

do it faggot

>> No.272920

>>272553

Just you.

Do it.

>> No.273082

> not buying gold and silver in addition to bitcoin

>> No.273092

>>273082
You are very impressionable aren't you?

>> No.273114

>>272553
Wait homie. Old money is retiring and cashing out. New money is otw. <3

>> No.273153

>>272626

Yeah if I lost $100K the last thing I would be doing is telling 4chan about it.

>> No.273164

NEVER INVEST ANYTHING YOU CAN'T AFFORD TO LOSE OUTRIGHT

NEVER BUY DURING A HIGH OR A DOWNWARD TREND

HOW RETARDED CAN YOU BE

>> No.273165

just hang in there, they'll be worth millions some day

so will all these cabbage patch dolls i have

>> No.273175

>>273114
There was hardly any big money coming into bitcoin. This game is just getting started.

>> No.273174

>>272553
just give me the money man if you're going to kill yourself.

got paypal?

>> No.273188

>>272553

>BTC

>Worthless shitcoin that did not entrench itself in e-commerc.

The writing was on the wall last year. BTC will never become a globally viable alternative to PayPal or Western Union.

>> No.273198

>>273164
Can I suck you off please?

>> No.273199

>>272638
>>272670

>now I'm mad as fuck.

B-But isn't that what you asked for?

>> No.273203

>>272624

Thank you. Someone that understands where the might of the dollar arises from. And why basement dwellers will never support a global electronic remittance system that will double as currency.

>> No.273221
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273221

>>272553
you were incredibly stupid OP, I hope you've learned that at least

but it's not lost until you panic sell or it reaches zero

>> No.273235

>>272657

During the BTC "boom" (quotations because a product with no value cannot really "boom"), plenty of people on /pol/ were buying into it, so it's not unreasonable that there were equally economically illiterate people on /biz/ as well.

>> No.273260

>>273235
>were
>/biz
wow you're even newer than biz is?

>> No.273311
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273311

>>272657
>... this?

>> No.273371

Before you kill yourself, be sure to send the bitcoins to 1BitcoinEaterAddressDontSendf59kuE to provably burn them (making the rest slightly more valuable)

>> No.273372

>>272553
hey OP

you're back up to $405 now

>> No.273432

w/e

I took a risk to rich fast

Didn't work out.

Hopefully the future will bring good news.

>> No.273452

>>273432
What is your price target to make a profit?

>> No.273457
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273457

>>273235
>mfw this fag doesnt even know what a new board is
>mfw hes never experienced a sticky
>mfw when i wonder why he hasnt already killed himself

>> No.273458
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273458

>>272553
This is what fascinates me about money, it has more power over your emotions than literally anything else on this earth.

>> No.273464

>>273458
Money = food, shelter, fun, well being, status, etc.

What people dont get is that money is work, work is money, and you have to work to (doesnt matter if its selling stock or hunting deer) live.

>> No.273466

>>272559
lel

>> No.273467

>>273458
Money can provide happiness and love. The saying is bullshit. Regardless of what you hear, you need some kind of money to survive whether it is in your hands or someone else's.

>> No.273732

>>272553
Just get out while you can......its only going to tank further.

>> No.273736

I have an idea for a different type of alternative currency- who could help me develop it?

>> No.273739

>>272679
great book

>> No.273738

>>272553
32 is plenty young to be able to recover OP- just stop being stupid

>> No.273745

>>272657
Yea, who would have been stupid enough to invest in the once in a lifetime get rich scheme.
Made 3 million USD when BTC was 2 dollars, enjoy the butthurt.

>> No.273747

>>273164
So how do you invest in volatile assets like BTC? (assets that are always up or down)

>> No.273798

>>273747

You don't, because it's not investing. It's speculating. That's why I wish Bitcoin and any other of the shitty derivatives weren't on /biz/. But unfortunately this board was made as a containment area for those retards.

Investments should be based on current value vs future value. It's impossible to have the slightest guess at what Bitcoin will do. It's gambling.

>> No.273800

>>272632
>http://www.reddit.com/r/Bitcoin/comments/1r88vl/need_advice_on_inheritance_arbitrage_family_etc/

I knew bit-coons were fucking stupid but this here takes the cake.

converted to my home currency this guy lost well over 4 million on this shit. Oh my fucking god.

On a fucking speculative crypto-currency?

Redditt for advice? Fucking reddit?

>> No.273803

>>273798
>derivatives

Are you sure you know what a derivative contract is?

>> No.273813
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273813

>>273798

>bitcoin
>Derivatives

>> No.273815

Is there a bitcoin futures market?

>> No.273816
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273816

>>272553

>Investing your life savings in an ultra-volatile cryptocurrency the value of which is based on pure speculation
>mfw

>> No.273885

>>272553
why aren't you shorting on bitfinex or plus500?

>> No.273888

>>273803
>>273813

He probably meant cryptocurrencies derived from bitcoin, not derivatives as in derivative contracts.

>> No.273919

>>272632
>http://www.reddit.com/r/Bitcoin/comments/1r88vl/need_advice_on_inheritance_arbitrage_family_etc/

bahahahahah

>> No.273943

>>272665
This guy does not know how to handle money.

>> No.273998

>>272632
Sweet mother of god...

I think r/guns would be a better place for him to ask for advice in the form of a "9mm vs 40 for suicide" thread.

I can't fucking imagine how mad his sister will be when she finds out he lost her over $200,000 playing buttcoin. He better hope he was better at reading that will than he was day trading or he'll be facing a lawsuit of epic proportion.

>> No.274047
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274047

>>273815
there should be. not long until all of these shitcoin clones turn into a derivative market.

>> No.274052

>>272665
>promise father that he will split it evenly
>dad ded
>it's all mine
It's scary how money and a drop of bullshit power can change someone.

>> No.274062

>>273803

Actually my snide remark was double ironic, because no one save for a few math PhDs knows how derivatives contracts work.

>> No.274108

buy silver with the rest of your money.

>> No.274128 [DELETED] 

>>273998
>He better hope he was better at reading that will than he was day trading or he'll be facing a lawsuit of epic proportion.
But not, though, because he was never under any contractual obligation.

>> No.274183

Eggs in one basket etc.

>> No.274189

>>272632
>I have seen you make a similar post within /r/apple at least once before.Apple products are luxury goods for individuals with high incomes.$1800 is not a lot of money to many of us.Whether I buy a $500 laptop, a $1800 laptop, or a $5000 laptop makes no difference to me financially.If this is a testament to how you spend your time there is no need to wonder why you are poor.You too probably do not understand why someone would buy a luxury car, clothing, or home.You lack sophistication and culture so you rage with jealousy and envy on the internet about things you don't understand
>Apple laptops are not by any means the most expensive computer someone can "come across."I also own an Asus and a variety of other computers that I have purchased over the years.Again, you are obviously poor. You are right, I do not have the same concept of money as you. Whether or not I am purchasing a Apple laptop or a Mercedes makes no difference to my quality of life nor does it alter my financial state. Would you consider someone foolish for spending 1.99 on a pack of gum instead of the cheaper 99 option? Your concept of money is one of a poor persons. You have an inflated view of $1000 that many of us do not have. If it makes you feel better I can send you an old Apple product collecting dust in my closet. You seem to be the type of person that is poor from lack of education and drive rather than an unfortunate circumstance so you may not deserve it but that is okay

dat schadenfreude

>> No.274196

>>274189
http://www.reddit.com/r/Bitcoin/comments/1r88vl/need_advice_on_inheritance_arbitrage_family_etc/cdl8hhk

This has to be a troll.

>> No.274427

>>274196
Goddamn that is euphoric as fuck.
Like, an entirely new level of euphoric that no mere mortal can experience without being enlightened by their own intelligence.

>> No.274434

>>274183
clearly correct.

if you put all you have in one volatile high-risk place what do you expect.

>> No.274440

>>272632
Fucking hilarious

>> No.274448

>>274434
And it sounded like it was his first investment and he chooses some internet craze which seems fucking shaky

>> No.274460
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274460

>>273164
Oh no, not logic.
Help. help
Theres logic on biz.
help
>>272553
congratulations, chucklenuts, you have two good options.
One - sell and be done with it. Cry yourself to sleep.
Two - close the laptop, go outside, go to a park, and enjoy the day. Go visit your parents or something. Live a happy life for a whole grand total of three months before opening laptop again. Maybe first make a sell order at 5000, just in case.

>> No.274480

>>273371
>1BitcoinEaterAddressDontSendf59kuE
>Brute force that address because apparently nobody has yet
>suddenly have billions

>> No.274482

Can I have them?

>> No.274487
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274487

>believing finance hype
>ever

Say goodbye to your retirement!

>> No.274508

i hope it crashes and burns with such an intensity that no one ever tries to buy crypto currencies again. every single one of them are pump & dump schemes for fuck's sake.

>> No.274510

>>272582
Yeah but doge s fucking gay and makes me cringe. Others will agree its a beta currency for faggots.

>> No.274513

>>272632
wow
what in the fuck

bitcoin. not even once.

>> No.274514

Try Darkcoin. Best crypto currency.

>> No.274523

>>273747
You don't.

>> No.274536

>>274510
beta currency? when's the full release?

>> No.274693

>>272553
Sell it all and invest in PVCT. You'll either make it back 10X or lose it all and you're going to commit suicide anyway so it doesn't matter.

>> No.274822

Man do you even know what the fuck are you doing putting money on bitcoins?

>> No.274841

this is fantastic

>> No.275009

>>274196
>>272632

jesus christ

>> No.275628

>>272553
>32yo, life savings (was 200k, now 91k) in BTC.

Thanks for giving me your money.

>> No.276510

>>272579
Only idiots like you think that after BTC becomes the world reverse currency, it will still be valued in dollars.

Bitcoin wouldn't be at anything other than BITCOIN and then things priced in bitcoin.

you dumb fuck

>> No.276517

>>276510
>implying the Fed (or any other government for that matter) would ever push a volatile commodity mostly controlled by neckbeards with mining rigs as the world reserve currency
You people really aren't thinking this through at all.

>> No.276559
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276559

>>274480
>Brute force that address because apparently nobody has yet

There is no known technology that could do that in a million years, literally. Good luck trying, though.

>> No.276567

>>276517
>implying it wasn't a DARPA project colluding with the fed the whole time

>> No.276585

>>276567
Even if there is any credence to this and "Satoshi Nakamoto" is really the IMF then Bitcoin was just a test run. Any digital currency that would allow for control of the Fed would have to be pre-mined and centralized which Bitcoin is neither. Eventually I think the Fed will push for a digital world reserve currency but it will be totally under their control and it won't be Bitcoin.

>> No.276678

>>272553
I went the other way

invested 7K, peak of 320k now 70k, so all good here. It would be hard to invest better anywhere else eg 1000% return. I am fully prepared for $0.

BTC will be 100K withing 4 years.

>> No.276697

>>276585
Thwy keep bubbles rising and bursting then around 10k they unleash the satoshi wallet and whatever other coins the fbi has taken.

Destroys underclass wealth.

People demand action.

Boom government regulation of all digital currency

>> No.276702

>>272624
REMOVE USA

>> No.276710

>>276697
They are already calling for government regulation of digital currency after the MtGox fiasco. Bitcoins "anonymity" and decentralization is a hindrance to regulation. It would be much easier for them to adopt something akin to Ripple (which already has ties to the Fed) than to try to do a complete overhaul of BTC. Or I am wrong and the digital currency space will be taken over by a new emerging crypto that the Fed has ownership of from the start. Either way Bitcoin will never overthrow the current financial system.

>> No.276726

>anyone else considering suicide

Of course. I'm thinking about doing it clean and easy so it's easy to clean up after me.

>....if BTC goes down further?


...Uhh. Yeah. That's why.

>> No.276738
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276738

>>272598
oh god, this is sad and hilarious

>> No.278027

>>272632
How can someone be this stupid.

>> No.280364

>>272553
lol everyone who put 100% in bitcoins for investing
is a fucking greeding idiot and deserve it for loosing all.

>> No.281533 [DELETED] 
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281533

>>273464
money is money
work is work

are you telling me a brat born rich worked for that money? goy please...

>> No.281539
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281539

>>273464
money is money
work is work

are you telling me a brat born rich worked for that money? goyim please...

>> No.281540

>>272553

>considering suicide

Nope. Never.

>> No.281545

>>272632

>Name her your heir and then kill yourself you fucking idiot.

ahahahah. ahahah! Reddit can be cool at times.

>> No.281558

>>272553
>life savings

You fucked up.

You put your life savings into something that could crumble at any moment.

>> No.281610

>>272553
should bought some income properties

>> No.282182

>>272553
Buy the nicest suit you can get, a golden gun (might as well buy a fancy gun) and two bullets (in case you pussy out and miss your head the first time).

>> No.282416
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282416

>>272553
>falling for this obvious bait
nope.

>> No.282679

You invested your money in the most obvious ponzi scheme of the decade, and now you're wondering why it's all falling apart.

>> No.284252

>>272553
lol, made my day

>> No.284316

Is there a word in english for when one gets joy/entertainment from others problems?
Just one word. In my language there is but I don't know about english.

Anyway, that is what I'm feeling now.

>> No.284344

>>284316
Sadistic is pretty close

>> No.284347

>>284316
Schadenfreude

>> No.284354

>>284344
Almost yes. Not as sinister.
>>284347
Well, that translated perfectly to my language.

"malicious joy" I suppose is the closest in english, from Google translate.

>> No.284397

>>276697
nahn the cult oh hodl, never sells btc

the followers of weak hands would be buying everything in sight

govt cant regulate btc itself only spin their printing press faster

>> No.285313

>>276510
meaning 20k worth of buying power in USD. So fuck off with that shit.

>> No.285551

>>284347
lisa needs braces, DENTAL PLAN