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/biz/ - Business & Finance


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612681 No.612681 [Reply] [Original]

So why aren't you investing in bitcoins?

>> No.612682
File: 126 KB, 1680x888, shilld_pls_go.jpg [View same] [iqdb] [saucenao] [google]
612682

b-b-bitcoin is about to enter a new bubble! Buy now at:

8̶0̶0̶
6̶0̶0̶
5̶0̶0̶
4̶0̶0̶
3̶5̶0̶
3̶0̶0̶
2̶5̶0̶
2̶1̶5̶
175!

Don't be angry at early adopters when you miss the boat!

>> No.612685

>>612682
155 on bitstamp

APEX KEK

>> No.612687

someone post the flash crash vid. very appropriate!

oh fours's ARE TRADING
oh three's ARE TRADING
oh twos ARE TRADING
oh one's ARE TRADING
GUYS WE'RE EVEN BID
OH LORD THERE GO THE STOPS
LOW PRINT 152.40

>> No.612694

this is going sub 90$ and will find stability for a few years before it starts uptrend again after next halving.

>> No.612695

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

>> No.612696

It's debatable whether buying Bitcoin even meets the definition of investment.

>> No.612698

>>612696

It has value as a means for people to conduct trade in illegal substances. Unfortunately, there have been far better alternatives to bitcoin created that are far more secure.

All that bitcoin is now is pure speculation. People are buying it not because they want to spend bitcoins, but because they hope the price will go up.

>> No.612701

>Bought first BTC for $600 just because it sounded neat

I'll get along fine if it hits zero, but I hope it pans out in the long run. I'm having a blast checking the price twice a day.

>> No.612702

>>612694

I've heard this halving bullshit before. Why wouldn't the market simply price the future of the halving into its price for bitcoins? It's not like some shock announcement - The halving will happen and people know what it means.

I do think bitcoin can find a stable price but 2015 is going to be a very, very bad year for bitcoin.

>> No.612704

>>612702
>why wouldn't the market simply price the future of the halving into its price for bitcoins?
Because the Bitcoin market isn't rational. It and the 'economy' that has grown up around it is like a cargo cult version of actual currencies and economies.

>> No.612705

I'm buying at $10

is that too high?

>> No.612707
File: 2.84 MB, 320x180, BTC threads on biz.gif [View same] [iqdb] [saucenao] [google]
612707

Bitcoin is the most fun I've ever had losing money. I completely mean that.

Plz buy while you can.

>> No.612708

>>612705
Yes

>> No.612710

>>612705
There's really no reason to ever buy unless you're concocting a scam.

>> No.612712

>>612707

Losing money doesn't sound like much fun to me. I'll stick to making money.

>> No.612716

>>612681
I did, I shorted the shit out of it :^)

>> No.612723

>>612716

>risking your money by giving it up to these unregulated dodgy bitcoin businesses

mark my words by the end of this crash some of these businesses will be closing up and taking everyone's bitcoin with them.

>> No.612728

>>612723
bitstamp will be going full gox

Bitpay will shut its doors, I don't see how it can survive on VC funding alone, they're business model literally depends on the price going up. The only reason they are even relevant was because they had a a lot of bitcoins when the price skyrocketed.

>> No.612732

>>612723
who said I risked my money?
I stole the bitcoins and then shorted it :^)

>> No.612733

>but dad this is the future of currency

>> No.612738
File: 34 KB, 686x572, mfwpoor.jpg [View same] [iqdb] [saucenao] [google]
612738

>be me
>lost $500 investing in Bitcoin

>> No.612742

>>612681
All bubbles work out pretty much the same. Different cultures, times and factors change things but you can always tell after it's done. The same goes with bitcoin, people are constantly claiming it will stabilize here or there, 200 was the stopping point claimed in the last thread and now people see how this bloodbath can exceed your expectations day by day. This link shows you different statements as the dow rose and collapsed in 29 into 32, you'll notice all the "calls" on the way down for a bottom which are wrong. Soon after this there is a confiscation by FDR of gold and sealing of deposit boxes(read #20), does this sound familiar? Some exchanges are going to close shop and just walk away with the bitcoins. This is what people mean when they say history repeats itself.

http://www.oftwominds.com/blogmay13/EricA-pt2-5-13.html

>> No.612744

>>612702
you can't price something like a halving in.
it has a physical effect. coins are constantly coming onto the market. TONS AND TONS OF COINS. so until this next halving, and probably the one after that you will not see a huge increase in price.

>> No.612745

>>612744

You really haven't explained why I can't price the effect of the halving, at least that I can see. I am aware that it has a "physical effect".

The real problem isn't with working out what the effect of the halving will be but rather that these coins are so volatile they don't really play by any logic anyway.

Bitcoin could go to 0 for all I know.

>> No.612746

it still has been a mystery to many people
people are so used to paper money it's unconvincing for them to use a digital cryptic currency, so you have to download ~8GB of blockchain to be able to store the money locally? and you're still vulnerable because you clicked a wrong link? online wallets get hacked? what makes me sure they're not pulling a scam and run with the money like mt. gox who hasn't been held accountable?

it was a nice experiment, but that's it. unless you come up with a system that is less cryptic, paper money is not going away

>> No.612751

>>612745
>can't price the effect of the halving
why should i explain to you something you probably wont understand anyways.

simply put, it is about supply and demand. and if demand has been droping as it has been, and supply is continue to bring on coins into the market daily, until the coins coming into market are reduced, ala the halving. then you will not see a reduction in supply.

also with the increase in supply from retailers instantly selling their coins you are going to need to see an increase in demand which simply is not around now that the 'discovery' factor of the coin has been reached.

get it? good

>> No.612752

I kind of did
>mid-late 2010, bitcoins are like 2$
>buy coins for some stuff from silkroad
>stop doing drugs and forget about SR and my coins
>remember I have coins when i hear they're around 500
>sell them immediately for 4300$ total

I never really saw btc as a valid investment though. Even getting in on the altcoin pump n dumps was way too much effort.

>> No.612755
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612755

Holy fuck this pump. Fuck. Whale gods fist my fucking butt every single time.

>> No.612756

>>612751

>and if demand has been droping as it has been, and supply is continue to bring on coins into the market daily, until the coins coming into market are reduced, ala the halving. then you will not see a reduction in supply.

Yes, the halving will result in a decrease in the amount of supply - I completely understand that. If someone told me that for certain in 3 months there will be a lower amount of a commodity like coffee beans on the market then I would be completely capable of pricing that future decrease in supply into the price I pay today.

This same "halving" nonsense was spouted by the guys that were shilling dogecoin. In the end the next "halving" came and the price stayed stable, before dropping - precisely because speculation about the price increase after the halving had already been factored into the price.

>> No.612757

>>612755
>Whale gods

Well as it turns out I am the X0Rn Orca.

>> No.612758

>>612742

>Soon after this there is a confiscation by FDR of gold and sealing of deposit boxes

except this never happened

https://en.wikipedia.org/wiki/Executive_Order_6102

I agree with everything you're saying though.

>> No.612759
File: 63 KB, 1549x890, BTFO2.png [View same] [iqdb] [saucenao] [google]
612759

>>612757
Banksta niggers rig the game and the system.

>> No.612760

>>612756
doge coin is not the same as btc. btc has a fixed supply. doge coin changed code and made it ever expanding supply. so please dont try to relate the two.

tis fucking doge after all. is this really where you are going to take it?

goodnight sir just fucking good night

>> No.612762

>>612759
I know. It is the international Jew and his conspirators.

Hitler was right.

>> No.612764

>>612760

It doesn't matter. My point about being able to factor these "halvings" into the price I pay today remains sound.

You've failed to provide any reasoning as to why people can't factor the halving into the price they're paying now when they know that it will occur in the future.

>> No.612766

>>612764
because pricing it in would be pricing it up
now how are you going to price that in and make it a higher price with the extra coins still going to come onto the market
you cant. you fucking idiot. just becuase you want to price something in what are you going to do? make the coins 10,000 a piece because you KNOW they will be rare in the future yet they are not rare now, but hey just price it in!

JUST PRICE IT IN!

and kill yourself
i hate you

>> No.612769

>>612762
they be pumping right now.

>> No.612770

> implying i'm not
this crash is mtgox selling hundreds of thousands of btc before the trial begins next month.

>> No.612774

>>612681
Only an idiot could have invested into non centralized, non transparent concept of abstracted value younger than 10 years.

>> No.612786
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612786

> no crypto general thread
guys wtf am i looking at? shouldn't that 64991 sell order be filled by the buy order at 3satos higher...? i'm too high to make this make sense

>> No.612788

>So why aren't you investing in bitcoins?


because I went long on oil ;_;

>> No.612791

>>612695
https://www.youtube.com/watch?v=hHUbLv4ThOo

>> No.612795

>>612786
Cryptsy's trading engine's shit, news at 11.

>> No.612798

cyrpto currency that fluctuates constantly

NO.

>> No.612879

>>612681
>>612682
>>612759

what app/website is that?

>> No.612881

>>612879
https://bitcoinwisdom.com/markets/bitstamp/btcusd

>> No.612884

>>612881
>https://bitcoinwisdom.com/markets/bitstamp/btcusd
thanks <3

>> No.612899

>>612681
My favorite is the shills on leddit going "now is a great time to buy!" and "its still a solid long term invesment!". The funny thing is that they have been saying the exact same thing since last January. I wonder at what point they stop and think "wait a minute... this thing doesnt look like its ever going back up..."

>> No.612900

>>612899
Did you hear of the operation aprilfoolscoin when bitcoin went to 200$ 2 years ago? There's a pastebin link, but I'm on my phone right now.

>> No.612901

>>612899
Unless it actually stops trading, probably never. A lot of them are financially, emotionally, and politically invested in it to such a degree that they'll never be able to admit that it's failed.

>> No.612905

>>612900
No I didnt. Ill try to look it up.

>> No.612906

>>612901
Yea I agree. We should give it a few years lol

>> No.612911

>>612728
Bitpay makes money no matter what the price

>> No.612912

>>612905
I'll post a link to it in about one hour when I'm at home

>> No.612914

>>612900
http://pastebin.com/h7iGK49T

Found it. I'm not sure what I'm looking at here though. Market manipulation?

>> No.612915

>>612766
How do markets work: the post.

>> No.612916

>>612914
Yes. Check the date of the pastebin link and when bitcoin went up to 200

>> No.612920

>>612746
>"so you have to download ~8GB of blockchain to be able to store the money locally?"

srsly? - fuck that. how often you need to update that? dunno shit about them (obv.) but, that doesnt strike me as a workable system, tbh.

Who is dumping this all anyway? Whales, or panicking NEETs with burnt-out gfx cards, and 4-figure electricty bills? Just out of abstract interest - but fuck off with PND and shit, not that interested..

>> No.612924

>>612916
What is interesting is that in any normal market this would carry significant criminal prosecutions along with huge fines but because bitcoin is unregulated it seems to get a free pass for now.

>> No.612933

>>612746
Paper money is already going away in the sense that most transactions are electronic these days.
>>612920
From what I've read, a lot of it is from the mining companies. They have to sell their BTC to pay their rent, electricity, etc. which is all valued in actual currency like USD. Them selling lowers the price which means they have to sell more which lowers the price more and so on.

>> No.612934
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612934

When this spike bottoms out i'm gonna buy like crazy.

>> No.612937

>>612934
me too. can't fuckin' wait. $65 pls
https://www.tradingview.com/v/ZkiPdhMr/

>> No.612939

>>612934
>implying there is a bottom
Whats wrong with you?

>> No.612940

>>612937
>how low can bitcoin go?
In theory it could go to effectively zero.

>> No.612942

>>612939
> implying silk road ONE didn't trade over 1 billion bucks solely in btc
there are now dozens of these markets, and every time one gets busted more people flood in. there's always buy support as long as people want to get high.

>> No.612943

>>612942
>implying that drug dealers hold on to the BTC and dont transfer it to fiat immediately

>> No.612946
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612946

>yfw you realize this thread is the most coherent, well-informed discussion on /biz/

>> No.612951

>>612924
It seems to me any investment in bitcoin would be an investment in the ability of the unscrupulous to spike the price. This seems like a solid investment in an unregulated market.
Which is exactly why this is garbage.

>> No.612960

DOGE DRK and ANC are now being accepted on silk road.

http://motherboard.vice.com/read/silk-road-reloaded-i2p

FFFUUUCCCCKKINNNNGG cryptsy's ANC wallet is rekt as usual. DOGE at 65sato already.

>> No.612981
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612981

Mr. Bitcoin’s Wild Ride continues ...
better fasten your seatbelts.

>> No.612986
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612986

LTC for less than $1 when??
https://bitcoinwisdom.com/markets/btce/ltcusd

>> No.612989

>>612986
>screenshot
>VLC popup
>no time to wait the popup to dissapear

>> No.612992
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612992

>>612989
This was the official crypto-thread theme song on /g/ back in the day, when LTC and BTC both were rising 10-20% every day for multiple weeks.

>> No.612994
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612994

>>612992
now they are falling at the same pace.

>> No.613000

>mfw Putin killed Bitcoin

>> No.613002

>cryptocurrency is going to be dead in less than a week

What the fuck happened?

>> No.613004
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613004

yfw doge overtakes bit

>> No.613005

>>613002
Bitstamp hackers cashing out

>> No.613006

>>613002
Bitcoin has been collapsing for over a year now. It's not exactly a sudden development.

>> No.613011

>>613002
Cost of mining is increasing and prices are dropping. The result will be a collapse of bitcoin.

No one wants to be the last one with bitcoins so everyone is selling as fast as they can.

>> No.613012
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613012

but not as!

>> No.613013
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613013

>>613006
It is not sudden but it is extreme. Bitcoin has not lost value that fast (in %) for a long time.

>> No.613019
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613019

At least trading volume is back.

>> No.613026
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613026

>>613019

>> No.613029
File: 39 KB, 400x305, tumblr_mb37w57acz1rp32jwo1_400.jpg [View same] [iqdb] [saucenao] [google]
613029

And so, a fool and his money are soon parted.
If only the Buttcoiners had paid attention to, well, pretty much everything that's gone on with Bitcoin over the last year.
http://i.imgur.com/pKUGJWW.png
http://i.imgur.com/RTPLwB6.png

>> No.613031

>>613011
What's the point where the electricity isn't worth it even if you already have the hardware?

>> No.613034
File: 179 KB, 415x477, Bitcoin goes to the moon thru the centre of the earth.gif [View same] [iqdb] [saucenao] [google]
613034

>> No.613037

>>613031
It's pretty much been reached already. Cloud miners are already suspending operations.

>> No.613038

>>613031
In the US that has already passed. In China, where most of the mining is done, it might have passed this week.

>> No.613049
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613049

>>613038
Unless you don't have to pay for electricity.
So we have a normal return to 2011 after bubble conditions. (When GPU mining only made sense if you could mine for free)

>> No.613052
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613052

>> No.613054

RIP Bitcoin

>> No.613055
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613055

>>613049
No, it doesn't make sense at all anymore, the power to mine 1 bitcoin with anything but an antminer is already below the threshold of the electric bill. GPU mining doesn't make sense because the hashrate is too high for GPU miners. You need asics.

>> No.613061

>>613055
Question: How long would it take to mine a single bitcoin on a year old laptop?

>> No.613064

>>613061
http://www.coinwarz.com/calculators/bitcoin-mining-calculator

>> No.613065

>>613061
You would never mine one. Seriously.

>> No.613068

>>613064
>>613065
Thanks.

I was wondering because I have an old laptop and utilities are included in my rent. It doesn't seem worth the constant laptop noise though.

>> No.613069

>can't be used a commodity
>not viable to make transactions
nice concurrency you have there

>> No.613070
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613070

>>613055
http://www.wirebiters.com/bitcoin/
>a “frisbee on the roof” scenario could develop if a substantial amount of processing power disappeared instantly: There would not be enough processing power to solve the present difficulty and no transactions would occur.

Oh god yes.
Bitcoin is SO close to just keeling over dead in an instant.

>> No.613072
File: 230 KB, 1438x852, BTC_SILVER.png [View same] [iqdb] [saucenao] [google]
613072

>>613055
I didn't meant that we literally have the same conditions as in 2011.
What I meant was that state of the art mining hardware only produces returns if you don't factor in external costs. (ASIC miner today are in the same situation of dudes who bought expensive AMD GPU shit in 2011)

So what will happen?
Market will adjust to new equilibrium and price will drop until most profit BTC-rape miners are pushed out of the business.

>>613061

>> No.613095

>>612695
oddly appropriate

>> No.613097

>>613064
I have no idea what any of those things that I'm supposed to input mean.

>> No.613115

>>613097
You probably shouldnt be mining then m80

>> No.613119

Is anyone shorting bitcoin on bitfinex? Should I bother?

>> No.613120

>>613097
The first one is your hash rate. Here's a list, the first value gives you MHash/s, the site wants GHash/s, so divide by 1000.

The second one is how much your system draws.

Power cost is... well, how much you pay for electricity.

Leave difficulty as is.
Hardware cost is zero (you already have it), exchange rate is what you imagine it'll be when you finish mining.

Block reward should also be left, I guess.

>> No.613144

Most realistic article I have read so far: http://techcrunch.com/2015/01/14/the-rainbow-after-the-bitcoin-storm/

>> No.613185

You should be buying now! It will go all the way up to 10k soon!

>> No.613187

>>613185
sent ;^)

>> No.613192

>>613144
Seems accurate to me. I really dont doubt they'll just even out at some point and be used as they were ment to; buying illegal drugs over the internets

>> No.613204
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613204

hey guys

did u hear about that dogecoin money ? seems like a profitable investment

>> No.613207

>>613204
>doge
it died when it merged with ltc

>> No.613231
File: 774 KB, 4180x1750, DOGE &amp; The Ghost of BTC.png [View same] [iqdb] [saucenao] [google]
613231

>>613204
Meh.. I can't complain.
Doge is holding out pretty good in these heavy waters.

Will keep on holding..
https://www.youtube.com/watch?v=NG1qooBzE2w

>> No.613232
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613232

>>613231
wrong pic

>> No.613237

>>613232
Did you buy all that?

>> No.613238

>>613232
how?

>> No.613249

>>613232
mining?

>> No.613261

>>613232
intredasting

>> No.613262
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613262

https://www.youtube.com/watch?v=A7TuFy0fcuw

>> No.613263
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613263

>>613249
mehh.. always had Nvidia cards.
Maybe 250.000 are from mining.

>>613237
Boarded BTC train -> boarded LTC train -> boarded DOGE train -> mfw there are no more trains to board that that don't look either scammy (Paycoin), very fragile alpha stage (Stellar, Maidsafe, Ether, Bitshares, NUwhatever) or are run by jews (Ripple).

>> No.613286

>>613263

>not on the Monorail

>> No.613289
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613289

Supply: Huge mining conglomerates in china and elsewhere.
Huge retailers coming online accepting bitcoins more and more every day, who in which use a service to instantly sell those coins back to fiat.
People who bought in very early and still have profits also selling into market either for fiat or through various retailers.
People selling out panic from their 500-1000$ purchase price.
Black Market dealers dumping their coin for fiat.
Demand:
Accumulating investment bankers, who work at a snails pace.
People who want to buy BTC to then use on retail? Nope
People who want to buy and hoard hoping for deflationary effect on their currency, and protecting against fiat instability. Okay, small market. As they are most all bag holders who bought at higher levels.
People wanting to buy drugs/black market goods. Small market which worked from when BTC was 2$-25$

Looks like demand is losing out to supply.

>> No.613295
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613295

>>613289
Next Supply point???!!!???

Capitulation!

>> No.613296
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613296

>>612738
>be me
>$15k

>> No.613298

>>613263
You should probably go ahead and cut your losses on dogecoin.

>> No.613309

>>613296
what is your remaining networth in BTC?

>> No.613314

>>613296
You should probably an hero if you lost that much money.

>> No.613315
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613315

>>613314

What hero? This is MOON.

>> No.613320
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613320

>>613315
>moon

>> No.613323
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613323

>>613314
maybe you should an hero for thinking 15k is a lot of money

>> No.613324

>>613320

MOON/LTC

man, talk about worthlessness.

>> No.613325

>>613309
$3k I think

>> No.613328

>>613323
It takes the average American, what, 4 months to earn that? So yeah, I would say it is a lot m8.

>> No.613330

>>613325
pull out
if you wait too long its gonna reach $1k or worse 100$

>> No.613343

>>613330
At this point he should just ride it to the depths. If he was going to cut his losses he should have done it $14k ago.

>> No.613349

>>613330
no lol

I can afford to lose it anyways

>> No.613354

>>613349
you buy back later

>> No.613366

>>613325
start selling 10-25% of your holding on the next spikes and rebuy on lows. you might be able to at least accumulate some more coins from what you hold now.

>> No.613375

>>612681
>It'll never go below $300!
>It'll never go below $200!

>It'll never go below $100!

>> No.613395
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613395

>>613323
>>613328
Maybe he comes from some backwater in Africa where people make $300 per year.

>> No.613402
File: 126 KB, 500x376, ElonMuskMC_SpaceX4X3.jpg [View same] [iqdb] [saucenao] [google]
613402

>>613395

>> No.613409
File: 938 KB, 1500x880, 121241351523.jpg [View same] [iqdb] [saucenao] [google]
613409

>>612681
Giggled when I saw that it's not even a 1 hour chart.
Top kek, I'm looking at a 1 min chart.
shitcoin/10

>> No.613416

>>613409
whenever i see these type of pictures. it always makes me wonder what the joke was, and it kills me not knowing.

>> No.613453

>>613416
>and then he tells me "We actually NEED Basic Income!"

>> No.613454

https://www.youtube.com/watch?v=5_H-LY4Jb2M

>> No.613471

The miners process transactions, right? So what happens when the amount of bitcoin left to mine tends to zero?

>> No.613477

>>613471
turns to fee based system

>> No.613490

>>613477
In what way?

>> No.613497

>>613490
In exactly the way it sounds. Instead of being subsidized through inflation, miners will be paid directly by an increase in transaction fees.

>> No.613498

>>613497
In other words, making transactions will be more expensive than just using the bank.

>> No.613501

>>612681
>keep hearing how everyone is getting rich speculating off of bitcoins on 4chan
>see bitcoins were $50 less than they were a week ago
>think "Oh boy, here's my chance to buy low"
>spend $1000 on bitcoins
> One month later
>my bitcoins are worth $130 less each.

You faggots cost me a weeks pay. I'm selling this shit before I lose any more money. I kept thinking it was going to go back up at any minute, but it's a fucking scam. This is the last time I speculate on something that has no worth other than a medium for speculation.

>> No.613503

>>613501
You falling for the stalest bait this side of /v/ is what cost you a weeks pay

>> No.613504
File: 205 KB, 640x480, 1374609047629.jpg [View same] [iqdb] [saucenao] [google]
613504

>>613501
Don't let the door hit you in your ass on the way out.

>> No.613506

>>613501
hahahahhahahah

>> No.613507

>>613501
Did you actually buy into something that you had no real knowledge of, while it's been falling for a year now?

>> No.613510

>>613507
at least he didn't buy on the way up and baghold the whole time down and then sell now

>> No.613515

>tfw i bought into the hype and almost bought bitcoin at the peak
thank god mtgox took so long to process my information

still feels bad that i sent them so much of it though

>> No.613516

Just came back from browsing /r/bitcoin, they are falling apart in the most miserable (non-financial miserable kinda of way), its a cesspit of pure greed and delusion, toxic to ones mind, can you imagine if everyone was still using Mosaic 1.0 because it rocked the early web and somehow you could buy shares of the HTTP protocol? thats how these bitcoiners see the world.

>> No.613519

>>613516
meanwhile they are too deluded and wearing the greed blinders to realize the most important thing and what they can't capture financially is that the genieis out of the bottle, and there is no rule that btc will be the one of the ones.

they also fail to see that btc can have a low price per coin and still be a functioning currency exchange medium.

>> No.613523

>>613519
>they also fail to see that btc can have a low price per coin and still be a functioning currency exchange medium.
I don't think they give a flying fuck about that. That's just the picture they paint for convincing newcomers to buy in. The only thing they care about is making a quick buck.

>> No.613524

>>613516
Oh shit, this is hilarious

>> No.613527

>>613519
>>613523

exactly lol.

>> No.613528

>>613523
I remember when it crashed to 2$ after the mtgox first hack. There was a group of bashers on a very popular message board bashing the shit out of btc trying their hardest to get everyone to sell.

The hilarious thing is that the day of the lowest low for that time frame after the hack. the posters stopped all posts and never posted again from that day forward.

This has been a well crafted pump from the start. CNBC was involved and they are with the whales.

One thing about pumps is they most always go back to the range they were initially pumped from.

This being said I see no reason BTC can not hit 25$ a coin again, or even lower. However, it will have a level when buying outweighs sellers. I'm just not sure we are there yet.

>> No.613530

>$162
https://www.youtube.com/watch?v=BTJcy6HKvLM

>> No.613531

>>613528
>However, it will have a level when buying outweighs sellers.
Honestly, I'm not sure abou that. There's a point where the simple upkeep isn't worth it to people anymore.

>> No.613532

>>613528
Also, after the pump, the players/powers to be will keep it in a tight range so they can still make % on the spread, but they will punish the bag holders who bought higher. They will keep it in this range as long as it takes.

>> No.613535

>>613531
even if its under 1$. there are people out there that still are gungho . and some people with a shit ton of money. winklevoss was paying 10$ why wouldnt some idiots like that do it again. it does have a limited amount with dilution rate fixed. For this fact alone it will always be attractive to someone who knows how to ACCUMULATE

>> No.613539
File: 72 KB, 500x375, 1406137811693.jpg [View same] [iqdb] [saucenao] [google]
613539

>>613531
It's called diminishing marginal utility. Bitcoiners are going to be very sad when they learn the meaning of that term.

>> No.613540

>>613528

Can you imagine the amount of hard cash to pump something from $200 to $1000 is so exponentially higher than pumping from $2 to $30, not considering the amount of new BTC that is created each day, BTC being stable was the deal because it assumed new fools, I mean new bitcoiners where joining the cult, I mean the revolution and buying at least the new coins, considering no one else was dumping, in this scenario pumps are an extreme vote of confidence or an elaborate mirage, it depended on your view or the size of your bag.

>> No.613541

>>613535
>winklevoss was paying 10$ why wouldnt some idiots like that do it again.
Because even the idiots know the old saying: Fool me once, shame on you, fool me twice...

In other words, bitcoin is going to have a major branding problem down the road, and with a dimishing userbase, more companies will drop the pointless support as well.

>> No.613542
File: 82 KB, 219x229, 1372357189022.png [View same] [iqdb] [saucenao] [google]
613542

>>613540
I'd like to buy you a beer.

>> No.613543

>>613541
+1

>> No.613544

>>613528
I find it hard to believe that it will still be going down when pretty much everyone is selling at a major loss. It's one thing to get out during a crash when you can still get out ahead, but another to sell at a large loss just because you have no faith it will ever go back up. People naturally cling onto hope, and psychologically the difference between losing big and losing slightly bigger is small.

>> No.613546

>>613544
>but another to sell at a large loss just because you have no faith it will ever go back up.
That's called "cutting your loss".
>People naturally cling onto hope, and psychologically the difference between losing big and losing slightly bigger is small.
That just means that eventually you lose trade volume, big time.

>> No.613547

>>613542

thanks but this ride ends soon :^)

>> No.613548
File: 34 KB, 703x703, 1420918805393.jpg [View same] [iqdb] [saucenao] [google]
613548

when's the bitcoin ETF coming out again?

>> No.613550

>>613544
miners are not selling at a loss. imagine the sophisticated chinese investor with a dual solar/wind powered mega mining complex

i mean you have seen some of these power houses out there right? shit is insane. you are watching this difficulty SKYROCKET still. The same people that are causing the SKYROCKET in hashrate/difficulty are the same type who sell. While the selling is good.

Woooo ooooooo get the money and run.
Ooo Ooo Ooo

>> No.613551

>>613544
>he doesn't know that the miners have to constantly sell bitcoin to maintain their electric bills and loans

>> No.613552

>>613550
Difficulty: 43,971,662,056
Next: 43,711,600,885

That's not skyrocketing. Some miners are already getting out.

Down the right, even the sophisticated chinese investor has to make a call: Mine or sell the power?

>> No.613555

>>613548
The Bitcoin ETF was just a joke.

>> No.613556

>>613552
nice ignoring the trend, nice ignoring the hash rate completely

Jan 12 2015 43,971,662,056 8.20% 314,761,417 GH/s
Dec 30 2014 40,640,955,017 3.00% 290,919,288 GH/s
Dec 17 2014 39,457,671,307 -1.37% 282,449,013 GH/s
Dec 02 2014 40,007,470,271 -0.73% 286,384,627 GH/s
Nov 18 2014 40,300,030,328 1.76% 288,478,854 GH/s
Nov 05 2014 39,603,666,252 10.05% 283,494,086 GH/s
Oct 23 2014 35,985,640,265 2.81% 257,595,247 GH/s
Oct 09 2014 35,002,482,026 0.98% 250,557,526 GH/s
Sep 25 2014 34,661,425,924 16.20% 248,116,151 GH/s
Sep 13 2014 29,829,733,124 8.75% 213,529,547 GH/s
Aug 31 2014 27,428,630,902 15.03% 196,341,788 GH/s
Aug 19 2014 23,844,670,039 20.86% 170,686,797 GH/s
Aug 08 2014 19,729,645,941 5.30% 141,230,307 GH/s
Jul 25 2014 18,736,441,558 8.08% 134,120,673 GH/s
Jul 12 2014 17,336,316,979 3.08% 124,098,191 GH/s
Jun 29 2014 16,818,461,371 24.93% 120,391,236 GH/s
Jun 18 2014 13,462,580,115 14.51% 96,368,902 GH/s
Jun 05 2014 11,756,551,917 12.44% 84,156,677 GH/s
May 24 2014 10,455,720,138 18.10% 74,844,960 GH/s
May 12 2014 8,853,416,309 10.66% 63,375,223 GH/s
Apr 29 2014 8,000,872,136 14.64% 57,272,474 GH/s
Apr 17 2014 6,978,842,650 14.04% 49,956,502 GH/s
Apr 05 2014 6,119,726,089 22.23% 43,806,706 GH/s
Mar 24 2014 5,006,860,589 17.80% 35,840,504 GH/s
Mar 13 2014 4,250,217,920 11.39% 30,424,245 GH/s
Feb 28 2014 3,815,723,799 21.92% 27,314,015 GH/s
Feb 17 2014 3,129,573,175 19.39% 22,402,357 GH/s
Feb 05 2014 2,621,404,453 19.49% 18,764,744 GH/s
Jan 24 2014 2,193,847,870 22.59% 15,704,175 GH/s
Jan 13 2014 1,789,546,951 26.16% 12,810,076 GH/s

>> No.613559

>>613556
You said "still". That's not some past trend. Difficulty has been relatively steady for a good while now, and it'll have to fall soon.

Again, mining isn't worth it anymore. Power is worth more than the results you get from mining now.

The people who are still throwing assets at the bitcoin wall, hoping that they'll stick, are those who have too much tied up in bitcoin. It's desperation.

>> No.613561
File: 307 KB, 300x199, 1397619125116.gif [View same] [iqdb] [saucenao] [google]
613561

>>613548
That's the best part. It's not! They just re-submitted the application at the end of last year before the SEC could deny the filing. Get it? As long as people hold out hope for the ETF the price won't completely trip over itself so they just resubmit the filing. Since the filings take a year, all they need to do is keep it tied up with the SEC each year and lament the ebil gubbermint for slowing down the process! It's the long con. The Winklejew knows that the SEC will never approve of their black magic snake oil etf so they've made a game of it.

>> No.613566

>>613559
>Again, mining isn't worth it anymore. Power is worth more than the results you get from mining now.
Thats why POS coins are better investment. Blackcoin, Darkcoin all these

>> No.613567

>>613561
based ricky

>> No.613569
File: 113 KB, 1404x936, fukbtc.jpg [View same] [iqdb] [saucenao] [google]
613569

How many times has bitcoin been proclaimed dead due to a crash?

>> No.613571

>>613569
not dead coin, dead demand for the coin.

>> No.613572
File: 1.04 MB, 290x189, L24cy.gif [View same] [iqdb] [saucenao] [google]
613572

>>613569

I love this pic, this man in all his neckbeardness is the embodiment of Bitcoin, he also fucked hundreds of thousands of people and basically walked away free from it.

>> No.613573

>>613569
good luck finding buyers, the people that were buying were the people that had faith in this.
Now that the ponzi has collapsed though.

>> No.613578

>>613573
There's still buyers. Those that can't or won't cut their losses. Those that will throw money at the system until they sink with the ship.

>> No.613583

Get your pogs here, Pogs here! Get your pogs HERE!@

(1920's corner newspaper salesman voice)

>> No.613591

>>613569
Well, all the believers are going to have to find a new set of suckers to buy bitcoin.

All who bought in late 2013, and EVERYONE who bought in 2014, as well as anyone who bought in 2015 are all most likely done with bitcoin.

>> No.613601

question of the day:

how would you fix bitcoin to make it not shit?

remember that bitcoin was originally just an experimental project that wasn't supposed to be released because it wasn't finished

>> No.613607

>>613601
bring back satoshi and get ride of cia insider gaven

>> No.613612

>>613601
Make it so that the supply can be controlled by experts on monetary policy.

>> No.613616

>>613601
I don't think you can. This is essentially fiat without the hand of the government both necessitating its use and providing a base worth, and without a central bank controlling its supply, reacting to market developments, with additionally high technological requirements.

So people can buy drugs. The whole thing is just asking to be abused, start to finish.

>> No.613631
File: 31 KB, 680x510, yoloyellen.jpg [View same] [iqdb] [saucenao] [google]
613631

>>613612

>> No.613632

>>613616
>This is essentially fiat
somebody doesn't understand bitcoin

>> No.613637

>>613632
It is fiat. Money from nothing, represented by something that's worthless.

>> No.613639
File: 2.80 MB, 318x212, 1371244917824.gif [View same] [iqdb] [saucenao] [google]
613639

>>613616
>without a central bank controlling its supply, reacting to market developments
you act like this is a bad thing.

>> No.613643

>>613637
guess you don't understand fiat either.

>> No.613647

>>613551
Not if they're selling at a loss. They'll just shut down if the power + other expenses outweigh the money they can get. They would need to be banking on a recovery in prices if they wanted to continue, and if they have any reserves left at all in the war-chest, if they're already banking on a recovery or bust, they'd just save the coins they're mining currently and run off of savings.

>> No.613648

>>613643
Well, I guess you're right there.
Fiat has government backing.

It's WORSE than fiat.

>> No.613649

>>613639
Because it is.

>> No.613650

>>613648
lol well, you got me there.
i do hate the wasted electricity when it could be going to research things of good. but in this fucked up evil world i just dont care anymore and my only solace is knowing we all die.
i imagine it is much the same feeling hitler had knowing he tried his hardest to free humanity, but in the end lost.

>> No.613654
File: 306 KB, 578x411, stanley-fischer.png [View same] [iqdb] [saucenao] [google]
613654

>>613649
sureeeeeeee thing buddy
go have a circle jerk with krugman

>> No.613657

>>613648
my point was though, that fiat is inflationary and bitcoins are deflationary. this is how they are different. fixed supply vs infinite supply

>> No.613659

>>612681
it is a scam

>> No.613662

https://www.reddit.com/r/Bitcoin/comments/2sgeyx/ethereum_have_been_steadily_selling_their_30k/

>> No.613664

>>613657
Bitcoin is actually highly inflationary right now.

>> No.613666

>>613664

this is the point, all about Bitcoin IS A FUCKING LIE, its not deflationary (yeah for now but its not) its also not fucking anonymous and not scalable (that stupid 1MB Block thing).

>> No.613667

>>613664
>inflationary
stop using words you do not understand

>> No.613668

>>613657
Fiat doesn't have to inflationary, it just is usually because that makes the economy run smoother. Inflation forces people to spend, so long as money circulates, the economy stays alive. But you can make fiat deflationary. Stop the presses, declare some of the tax money you get as no longer existing. Or just stop the presses and rely on the natural decay.

So, they're not different in that way. Bitcoin is ultimately merely more limited than fiat - it eventually has to turn deflationary - but either can be deflationary.

Which is yet another reason why bitcoin is worse than fiat.

>> No.613672

>>613667
You first.

>> No.613674

Fiat (which what cryptos are)

not backed by confidence and enforced with power is worthless.

In California state prisons a stamped brass round is worth 1 packet of cigarettes, why is this? ...

>> No.613677

>>613668
>it just is usually because that makes the economy run smoother.
wrong, it is because it is a debt based fiat and you have to borrow to pay back thus causing the inflation.
Saying inflation forces people to spend after your sentence of it makes an economy run smoother is an oxymoron. The thing that makes an economy smooth is price stability.

>declare some of the tax money you get as no longer existing.
this would never happen, maybe you do not understand this is the master plan to fuck humanity while the international banking elite profit as always.


>Bitcoin is ultimately merely more limited than fiat
No shit, that's why its deflationary vs inflationary.

The only time you see fiat deflation is when the gig is up and it returns to its true value, zero. Until then keep dreaming your asinine situations that will never play out.

>> No.613681

>>612681
>So why aren't you investing in bitcoins?

I already spent all my money on lottery tickets. Well, that plus directly flushing it down the toilet.

>> No.613682

>>613677
>wrong, it is because it is a debt based fiat and you have to borrow to pay back thus causing the inflation.
That's just silly. Debt vanishes all the time, and fiat doesn't have to be created with debt. Creating it with debt is a nice mechanism to prevent insane spending, but it's not necessary to the concept. Neither is it harmful in any meaningful timeframe.
> The thing that makes an economy smooth is price stability.
Nope. Prices that are too stable discourage spending now. People spending asap, increasing circulation, is what keeps the economy running.
>this would never happen, maybe you do not understand this is the master plan to fuck humanity while the international banking elite profit as always.
Let me get, it's the jews that are behind that master plan.

>> No.613683

>>613650
>i imagine it is much the same feeling hitler had knowing he tried his hardest to free humanity, but in the end lost.
>>613677
>this would never happen, maybe you do not understand this is the master plan to fuck humanity while the international banking elite profit as always.
The /pol/ is strong in this one.

Anyway, still doesn't change the fact that Bitcoin has been suffering from massive inflation.

>> No.613733

>>613650
>in this fucked up evil world i just dont care anymore and my only solace is knowing we all die.
>i imagine it is much the same feeling hitler had knowing he tried his hardest to free humanity, but in the end lost.

Literally Goebbels.

>> No.613766

>>612702
>The halving will happen and people know what it means.

Do realize that halving and therefore increasing value of something at 0 still means the value is at 0

>> No.613767

>>613682
>it's the jews that are behind that master plan.
obviously, idiot.

and debt vanishes all the time? haha yeah. federal reserve notes vanish all the time hehehe
hueheuhe

you're so fucking stupid i do not even know where to begin with your kike loving post.

>> No.613768
File: 3.71 MB, 1926x5640, HITLERWASRIGHT_.gif [View same] [iqdb] [saucenao] [google]
613768

>>613683
>The /pol/ is strong in this one.
indeed

>> No.613770
File: 244 KB, 1400x938, 1411356426429.jpg [View same] [iqdb] [saucenao] [google]
613770

>>613733
>Literally Goebbels.
links and quotes please

>> No.613773
File: 7 KB, 253x199, butt_shark.jpg [View same] [iqdb] [saucenao] [google]
613773

SR is going to be shut down soon enough

>http://www.theverge.com/2015/1/14/7546669/silk-road-trial-bitcoin-tracking

Bitcoin has clearly lost its anonymity which means its lost its draw

Better jump shit now and start investing in oil

Were all out of life rafts so here's a butt shark

>> No.613776
File: 101 KB, 600x600, 13341535_1_l.jpg [View same] [iqdb] [saucenao] [google]
613776

>>613773
>Better jump shit now and start investing in physical silver

fixed that for you

>> No.613781
File: 68 KB, 600x427, post2.jpg [View same] [iqdb] [saucenao] [google]
613781

>>613776
>Thinks physical precious metals are a smarter investment then oil

for your sake I hope all currencies suddenly lose their value at the same time and we go back to a bartering system of trade

>> No.613795

>>613773
Everyone has known this since the inception of bitcoin. It changes nothing.

>> No.613802
File: 138 KB, 1440x1080, maxresdefault (4).jpg [View same] [iqdb] [saucenao] [google]
613802

>mfw still have 550k in dogecoin

I don't even know what i'm holding onto them for, the coin is never going anywhere.

>> No.613805

Anyone here think BTC will reverse, at least briefly? I assume, at some point, during this fall, it will get so cheap that people who holding back will put money in it because they can throw away that money. We'll see an exponential rise for like $100, then the inevitable fall. Anyone else trying to catch this jump for easy money?

>> No.613807

>>613805
>anyone here think BTC will reverse, at least briefly?
More than likely.
>anyone else trying to catch this jump for easy money?
Nope.

>> No.613816

>>613805
> anyone else trying to catch this jump for easy money
only people that make a living on those kinds of small gains, like a pink sheet broker

>> No.613817

>>613802
sell everything and buy UWTI

>> No.613849

>>613802
Are you me? I mined them for like 2 days right when they came out. Keeping them was the dumbest thing I've ever done.

>> No.613864

>>613805

I think at $100 there may be a bunch of people that buy in... the thing is though, so many people have already been so burned by bitcoin.

>> No.613931

>>613766

I agree, I don't think any of it matters. I just think the stupid noise from bitcoin shills that "THE HALVING WILL RAISE THE PRICE" shows just how bad these guys are at this game.

>> No.613962
File: 422 KB, 792x1117, 1411357382918.jpg [View same] [iqdb] [saucenao] [google]
613962

>> No.614231

>>612746
>~8GB
hahaha
HAHAHA
https://blockchain.info/charts/blocks-size
Make it triple, and then add a bit more.

>> No.614241

>>613551
So, does it work the same as shale oil?

>> No.614243
File: 40 KB, 450x346, Full faith and credit of the United States of America government.jpg [View same] [iqdb] [saucenao] [google]
614243

>>613648
Yeah, what could go wrong with government backing?

>> No.614248

>>613453
>/biz/ hivemind thinks basic income is not becoming more and more necessary
I should have known.

>> No.614302

>be me
>be 13 months ago
>tried to register with MT GOX
>no reply for weeks
>didn't even know MT stood for Magic The Gathering Online Exchange
>if I knew that wouldn't have touched it
>planned to invest about 2000 USD in BTC
>still no reaction to my registration after a month
>Christmas time
>fuck it I will do it next year
>meanwhile MT GOX crashes and all the money on the accounts is lost

Thank you God

>> No.614306
File: 1.57 MB, 315x300, DPsvXQc.gif [View same] [iqdb] [saucenao] [google]
614306

BITCOIN'S BACK UP INTO THE 200's!!!
I bet all you fiat-failures are regretting not buying in at the bottom!

>> No.614334

>>614306
Dead cat bounce. We have had one after every huge crash. It never recovers to the price it was before the crash though. If you bought around 150-170 you can make some money selling during the bounce but I would plan an exit strategy soon before it starts retracting again.

>> No.614345

>>612681
BTC TO DA EARRRRTH

>> No.614399

>>614302
>same story
Neither Gox or BTC-E confirmed with me how to actually wire the money to them, so I never did. Dodged a bullet there.

>> No.614400

>>614306
>regretting not buying in at the bottom
Nope.

>> No.614412

>>614306
Enjoy your next pump and dump.

>> No.614431

>>614399
This is why bitcoin has had problems gaining mainstream adoption. Plebs don't understand it let alone be able to even acquire any. No coiners will bash bitcoin to make up for the fact they lack the tech literacy to even participate, mean while I am selling the 3.5btc I bought yesterday for a nice profit.

>> No.614451

>>614431
Incredible gains there buddy. I gained 22-23% with a tax free investment account in 2014, really missed an opportunity of a lifetime here.

>> No.614452

>>614431
>Plebs don't understand it let alone be able to even acquire any.
Naw I dont think thats it at all. I think what really happens is that when people go to buy some they realize that they have to give so much personal information and banking info to these shady exchanges that it opens up some serious security issues. Even then they still have to wait days to even get verified. The only other option is through localbitcoins where there is a huge markup above market value. I think when they realize how inconvenient and inefficient the whole process is they probably end up saying to themselves "why do I even want to buy these again?"

>> No.614488
File: 24 KB, 1400x1000, usdchf.png [View same] [iqdb] [saucenao] [google]
614488

Should I invest in the US Dollar now?

>> No.614492

>>614488
You shouldn't 'invest' in currencies and other non-productive assets period. Invest in assets that actually generate revenue.

>> No.614494

>>614488
rubel. make sexy putin happy.

>> No.614495
File: 51 KB, 814x500, 1386948472213.jpg [View same] [iqdb] [saucenao] [google]
614495

Why do bitcoiners act like they've never heard of a dead cat bounce? Why do they seem so ignorant of basic economics and finance? They wonder why they keep getting taken for a ride and then say "see we have a reversal!" on every dead cat bounce. It's like they're incapable of learning anything.

>> No.614708
File: 119 KB, 593x251, bitcom-founder-satooki.jpg [View same] [iqdb] [saucenao] [google]
614708

>>614306
>buying in at the bottom!
huehuehue are you a wizard

>> No.614713
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614713

>>614495
I think because a vast majority of the people who bought in late were the age of 16-25 and who didn't know shit fuck about anything economical. Brain fucked by the Jews from birth. They don't know anything about the system of current and all its volatility. They just get greed taken over like all humans always.

Tulips.

>> No.614753

>>614488
is anybody actually dumb enough to try and use this argument?

huehue the dollar is about to collapse muh 99& of value lost in 100 years hue hue

>> No.614773
File: 82 KB, 1591x496, watchtheworldburn.png [View same] [iqdb] [saucenao] [google]
614773

>>614753
actually the dollar could in the short term (next few years) uptrend against most currencies. You should see Euro come to parity or even sub euro.

or do you like selling at the start of uptrends?

>> No.614847

>>613498
Not all transactions have to happen on the chain.

>> No.614849

>>613501
>weeks pay
>actually concerned about losing it
You have to be lying about one of those.
I've lost 2 months pay so far, and I don't give a shit.
Bitcoin has dropped about a week and a half's pay so far since i stopped buying.

>> No.614860

>>613552
You know it's dead when Chinese miners decide to sell their power instead of using it to mine.

>> No.615041
File: 2.34 MB, 3264x2448, 1412446842647.jpg [View same] [iqdb] [saucenao] [google]
615041

>>614860
Whatever. Someone will buy their mining power at a fair market price and the market will adjust to equilibrium again.

Bitcoin is volatile, so the economic rent is always over and undershooting the equilibrium. In late 2013 it was overshooting (every stupid cracknigger could mine profitably) and now it's undershooting (even dedicated Asic mining specialists have trouble to break even).

At the equlibrium the price should adjust in such a way that mining specialists produce coins at a reasonable Marshallian surplus and small miners produce coins at a loss when factoring variable cost + fixed costs, but also achieve a producer surplus if they can get electricity for free (e.g. college students, or stealing electricity).

>> No.615169

>>612681
>there are people who didnt sell their bitcoins for $700, $800, $900, $1000

>> No.615223

Some dude made $64k yesterday going long right at the bottom, fucking basterd.

>> No.615262

>>612696
Bitcoin has backing.
Mainly it's supreme unrivalled use in the black market.
Unfortunately with the death of silkroad this damaged confidence in this sector.

I don't think bitcoin will move out of the blackmarket trading sector for quite some time due to the Mt Gox collapse too.
But it certainly will survive, because free market will make it so.

>> No.615388

used to be you would just get some bitcoins and then buy drugs, then it got big in the news and all these retards started talking about it, investing etc. to where we are today where everyone and their dad reads bitcoin news on tv and every little faggot on the internet is creating 5 forum threads every day. quit ruining shit fucking idiots it makes everything become gay.

>> No.615414

>>614847
then what is the point of using bitcoin you nigger

>> No.615433

>tfw wrote a thesis on Bitcoin taking off and everyone should get on board just last year
I feel like a fucking fool

>> No.615434

>>615433
upload it to pastebin

>> No.615508

>>615433

Upload it for some laughs.

Also please include reviewer comments from some old socialist loser that has no idea 8)

>> No.615521

>>615433
just delete your name / uni etc ... and upload it ! gogo :)

>> No.616340

Is it really feasible that 21,000,000 BTC could be worth 100,000 a piece? Market cap of 21 trillion?

I don't think so.

>> No.616352

>>616340
Yeah, no. That's like the people saying silver will go to $1000 / ozt. It's just delusional.

>> No.616388

>buttcoin

>> No.616443
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616443

>>616352
>silver will go to $1000 / ozt.
but it will

>> No.616515

how is the price decided?

>> No.616519

>>612698
> there have been far better alternatives to bitcoin created that are far more secure.
Like what Darkcoin?
darkdoge?

>> No.616575

>>616443
oh you
>>616515
supply and demand

>> No.616828

THE SAME REASON YOU WONT GO AND GET A REAL JOB I GUESS

>> No.616937 [DELETED] 

Can i beg a little?
I could use some coins. 0.0005 btc is enough
thanks
1Eg1c9oDCm1QRBWug8HikthM21bDJ7xDs9

>> No.616968

>mfw bought 10 bitcoins at $6 each and sold for $20 each

At least I made a profit

>> No.617053

>>616968
kekked

>> No.617077 [DELETED] 

>>616340

it wont, ever, at some point people will just turn to cheaper and better electronic currencies like monero.

>> No.617080

>>616519

like monero you idiot, all these you said are bitcoin clones with cheap gimmicks, go research what makes something better/securer, hint: it is not based on something less secure, you dont buy a metal fortress on top of a tree, thats what darkcoins are.

>> No.617161
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617161

Looks like $200 is what everyone has decided Bitcoin is worth.
Until when the Bitcoin miners have to pony up more cash to pay their electricity bills again, and dump more coins onto the exchanges and they crash the price again.

>> No.617173

>>617080
silk road takes DRK but not XMR. i don't get it.

>> No.617176

>>616443
why?

>> No.618242
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618242

http://blogs.reuters.com/breakingviews/2015/01/16/bitcoin-is-latest-victim-of-disinflation/
>Full cost of production is closer to $600 per token, based an a recent study by Australian researcher Hass McCook.
Oh man. Bitcoin is fucked.

>> No.618249

>>612738

I remember when bitcoins were 30$, 30-100$ is my buy price, and I don't think that it's a bad one either. Although, I would be surprised if it goes all the way down to 10$ nothing is impossible.

>> No.618267

>>618249
>I remember when bitcoins were 30$
That was back when you could mine them with your laptops CPU.

>> No.618274

>>612681
bitcoin is not anonymous. the only reason it got so far is because people didn't know

>> No.618319

>>613550
I know of a few mega-miners that are in profit above $90/BTC...

>> No.619035

>>618242
Didn't someone do some math recently and come to the assumption that BitButts would need an average of $500k of new people coming in and buying coins for the Ponzi to keep itself greased?

>> No.619061

>>619035
i keep seeing these numbers for different alts but no one shows the formula

>> No.619200

>>612943
this

the dealers are not buying from the suppliers in BTC

>> No.620321
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620321

I'm guessing the only reason people are still mining bitcoins at this price, is because selling coins is the only way they can pay back the loans they took out to buy the miners in the first place.
And it's not like they can sell their miners either, because what the fuck are you supposed to do with those useless hunks of electronics (that can only do 1 thing: mine coins), now Bitcoin is only $210?

>> No.620821

>>613262
whatever they're laughing about, you know, there's blood involved, lives at stake, groups disenfranchised, bitches fucked.

damn it feels good to be a gansta

>> No.620826

>>613501
>medium of speculation

the entire stock market

>> No.620835

>>620826
The difference being that it's possible to both speculate and invest with stock. Bitcoin itself is just speculation.

>> No.621883

>>612681
Well, guess I should have shorted it, but now it's probably too late.

>> No.621916
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621916

I love how up until recently, Bitcoiners would tell you to look at the history of bitcoins price using a log-scale graph.
https://bitcointalk.org/index.php?topic=670351.0
https://www.cryptocoinsnews.com/four-charts-suggest-bitcoin-value-10000-usd-next-year/

Gee, I wonder why they've all gone quiet about that stupid bullshit?

>> No.622039

Sell when everyone says buy, and buy when everyone says sell.

https://www.tradingview.com/v/dHbn7XZ4/

See you at the moon

>> No.622590

>>622039
That's just sad.

>> No.622593

this is pretty normal for btc. 10x in 24 hrs in any direction is ok / normal>>612742. You just have to be prepared to live with it.

100x in 24 hours and then I might think a bit differently.

>> No.622607

>>621916
no the log chart is still fine, see how high above it went at 32$

>> No.622801

>>613539
You're a fucking moron.

>> No.623061

>Dad just called me
>tell me he heard bitcoin is at an all time low
>wants me to invest $5000 for him

I don't know how to tell him it's too risky for him. He's not even gonna trade, he's just gonna hold it long term.

>> No.623146

>>614492
why?
the risk/reward is the same

>> No.623181

>>623061
>tell him you did
>use the $5000 for yourself
>once the bitcoin collapse he earn nothing

>> No.623502

>>623146
It really isn't.