Bitcoin is going TO THE MOON!

[Anonymous No.641496]

So why aren't YOU getting in on the ground floor of this financial revolution?
https://www.youtube.com/watch?v=6ZIzXn0sIJQ

[Anonymous No.641574]

Buy high, sell low!

[Anonymous No.641656]

>>641496

>I can't read trends
>This year-long 75% decline will surely reverse, let's just buy now!

Fair value's $20 a coin, dude, and the technicals are shit.

[Anonymous No.642691]

http://www.reddit.com/r/Bitcoin/comments/2jakg4
Currency of the future, everyone!

[Anonymous No.642704]

>>641656
>Fair value's $.20 a coin
fix'd

[Anonymous No.642706]

>>642704
> fair value $0.02 per satoshi

Ftfy

[Anonymous No.642707]

>>641496
lel, only retards are still buying butts.

[Anonymous No.642712]

>>642707
>be me
>buy and sell bitcoins on localbitcoins dot com every single day
>always buy at a few % under price
>always sell at a few % over price
>make approximately $75 to $125 profit every day for less than an hour's worth of work
it sure is profitable being a retard, if that's what you mean

[Anonymous No.642714]

>>642712
Well, at some point you'll buy and it will crater right after, wiping your gains out.

[Anonymous No.642728]

>>641496
I'm not getting in on the ground floor yet partly because bitcoin is so volatile and I think there will be other digital currencies more popular than bitcoin

[Anonymous No.642733]

>>641496

>thinking there is a ground floor for bitcoin

Maybe 0.

[Anonymous No.642743]

>>642712
This I can actually respect. Someone who takes advantage of arbitrage opportunities and expoits dumb people to make money. This is good /biz/.

What I don't respect is the idiots that buy Bitcoin and hold it long term. You have to be a full blown retard to think Bitcoin will experience another bubble like the one that made them $1100/coin. Buying Bitcoin for a long term invesment is the opposite of good /biz/.

[Anonymous No.642767]

>>642743
>understanding what I said

>>642714
>not understanding what i said

look, idiot
I have never had more than 3 BTC to my name in my life

i maintain ads for both buying and selling
when someone wants to buy (at my inflated price), i quickly buy more BTC (if I don't have enough for their order already) at a lower price than what I'm selling for, i then sell it all at a higher price.

i have a physical location, it's in a major city, i sell computers and computer parts

you might be the idiot who thinks that I have a warehouse full of computer parts, and would be wiped out financially if (for example) the price of RAM suddenly plummeted.

i buy inventory AS NEEDED from microcenter

similarly, I buy bitcoin AS NEEDED, at a low price, and sell it for more

that is actually the fundamental principle on which every business on earth is built

it's called BUYING AT A LOWER PRICE PRICE AND SELLING AT A HIGHER PRICE

I'm not sure how the tens of thousands in gains I've made over the past year will be wiped out if my ~1.003 BTC (that's what's in my wallet right now) were to drop to a value of 1 US cent.

Also, I'm not a Jew, so now, I won't cry over losing $200 in one day after making decent money.

Also, bitcoins aren't the only thing that I sell.

tl;dr 10/10 for me replying to some stupid fuck on the internet

[Anonymous No.642810]

>>642712

can you post some proof of this? that is dope.

[Anonymous No.642823]

>>642712
>making markets in X
>being long X

Two different things, friend. 2 is retarded, 1 is perfectly fine.

[Anonymous No.642827]

>>642712
how do you buy and sell bitcoins ?

[Anonymous No.642840]

>>642827
It is literally right there in his post

[Anonymous No.643047]

>>642767
Id like to talk one on one. Im very interested in bitcoin.

[Anonymous No.643053]

>>642712
>be you
>be lying on the internet

the only way people make money doing this is by purchasing from an exchange and selling over spot OTC. get a better story next time. this whole pretending to be a floor trader is only fooling the biggest plebs on /biz/.

[Anonymous No.643096]

Fuck off with this nonsense. You're not welcome here anymore.

Sage

[Anonymous No.643326]

http://www.scmp.com/news/hong-kong/article/1707565/investors-fear-hk3b-losses-closure-bitcoin-trading-company
>The sudden closure of a Hong Kong-based bitcoin trading company may have left as many as 3,000 local investors with combined losses of HK$3 billion.
>They will file reports to the police on Wednesday on the grounds that deception was involved in a pyramid-style Ponzi scheme packaged as bitcoin trading.
Christ, what is it about Buttcoin and its ability to attract scammers and rubes?

[Anonymous No.643329]

>>643326
The best one by far is butterfly labs.

Selling pickaxes to gold diggers headin out west!

[Anonymous No.643334]

>>643326
Rubes get sucked into the hype. Scammers follow the rubes.

[Anonymous No.643337]

>>643329
>Selling pickaxes to gold diggers headin out west!
And then not even delivering said pickaxes but buying their own giant pickaxe with the money or using the pickaxes first for a few weeks and then delivering them later.

[Anonymous No.643586]

Breaking:

http://www.coindesk.com/hong-kong-exchange-mycoin-disappears-387m-reports-claim/

$387,000,000 stolen

[Anonymous No.643594]

>>641656
Well what about blood in streets and fearful when greedy?

[Anonymous No.643598]

>>642823
Explain why

[Anonymous No.643600]

>>643594
Only works when there's intrinsic value and the market is being irrational. Bitcoin is just garbage.

[Anonymous No.644025]

>>643586
shouldn't it be easy to track down who is in possion of the btc's and how it is used with the blockchain?

[Anonymous No.644037]

>>643326
shouldn't it be easy to track down who is in possion of the btc's and how it is used with the blockchain?

[Anonymous No.644063]

>>642712

>be you
>make up fantasy bullshit because of deep rooted psychological problems
>drag internet communities down with you by convincing uninformed people to gamble on your dillusional nonsense
>fast forward a few years
>your greatest success was committing suicide you fucking plebian

[Anonymous No.644075]

pump & dump illegal drug currency

HSBC know all about illegal drugs too

[Anonymous No.644077]

>>644075

Talking about HSBC, is the list available somewhere? Anybody knows?

[Anonymous No.644087]

>>644077
It was on reddit via gizmodo.

http://www.icij.org/project/swiss-leaks/explore-swiss-leaks-data

[Anonymous No.644095]

>>641496
When will Bitcoin go up again goddamnit I never make it in time

[Anonymous No.644114]

>>644087

That's not the list, no names no nothing. Just an aggregated (censored) view. I'd like the raw data.

[Anonymous No.644699]

>>644025
nah it was cash dollars which were stolen, looks like a ponzi. hundreds of millions invested by those who have money, and like bitcoin. i'm amazed btc hasn't dumped hard. yet.

[Anonymous No.644709]

>>642767
>~1.003 BTC
are you converting btc gains to cash everyday?

[Anonymous No.644824]

>>644095

as soon as it hits 80 dollaroos per bitcoin

[Anonymous No.644847]

How can I short this shit? I see this shit is going through the floor.

[Anonymous No.644849]

>>644847
It's possible to do, but like all things buttcoin you have to use a cargo-cult version of a real market.
https://www.bitfinex.com/pages/features

[Anonymous No.644850]

>>643326
>The sudden closure of a Hong Kong-based bitcoin trading company may have left as many as 3,000 local investors with combined losses of HK$3 billion.

>3,000 local investors
>local investors
>investors

[Anonymous No.644865]

>>644850
god damn

[Anonymous No.645057]

>still holding bitcoin

Guys. Stahp. You're not going to make money anymore. SENS just started accepting coins (Coinbase, obviously), so give your coins to them so they can try making you immortal with the money instead.

[Anonymous No.645079]

>holding btc

>not investing bitcoin in various diversified peer 2 peer loans.

>btcjam

[Anonymous No.645099]

>>645079
>investing btc
>not cashing out to USD and investing in various diversified p2p loans that can actually be collected
>lendingclub

[Anonymous No.645106]

>>645099
Many btc loans are pegged to dollar anyway,

Stay pleb

[Anonymous No.645108]

>>645106
>implying that's the problem
Have fun when the loans default and you get an "arbitration judgement" that you can't collect.

[Anonymous No.645115]

>>645108
That's possible with any type of p2p loan

[Anonymous No.645119]

>>645115
Except you (or actually the collection agency representing you) can actually collect on something like a Lending Club p2p loan.

[Anonymous No.645122]

>>645119
All you can do is drag the borrower to court or make a lien on collateral. There is no guarantee that you will be paid back.

Risk and reward.

[Anonymous No.645127]

>>645122
Exactly, but that can actually be attempted with a Lending Club loan. BTCjam doesn't seem to work like that.
>risk and reward
The risk doesn't make sense to me, especially when you consider how notoriously unreliable bitcoin services are in general.

[Anonymous No.645132]

>>645127
Your bias is showing, make yourself decent.

The power in btcjam is that you can lend fractions of a penny to thousands of people which minimized exposure.

You can borrow fractions of a penny from thousands of people.

[Anonymous No.645135]

>>645132
>Your bias is showing, make yourself decent.
It's a simple truth that cryptocurrency services fail all the time, with little to no recourse for their users.
>The power in btcjam is that you can lend fractions of a penny to thousands of people which minimized exposure.
Except for the systemic risk of the entire system failing. That's also an unnecessarily fine degree of diversification.

[Anonymous No.645143]

>>645132
Lending crypto is like giving a hobo a five dollar bill that he vehemently swears he'll return to you once he makes it. Youre just never gonna have it back.

[Anonymous No.645152]

>>645135
>Systemic risk of entire system failing

Ok, Ron Paul.

>>645143
Except your lending fractions of a penny to thousands of hobos, some will default but your exposure is minimal.

[Anonymous No.645157]

>>645152
>equating US economy with random cryptocoin site
k
>Except your lending fractions of a penny to thousands of hobos, some will default but your exposure is minimal.
A lot of those hobos would default. After a certain point increasing diversification doesn't help you anymore.

[Anonymous No.645539]

>>644709
you don't seem to read do you?

retard comes to his store: "hey, I see you sell bitcoins for 100
him: yeah sure
tard: give me 50 bitcoins for 100 each
him: no problem, let me get one thing here for a second, *buys 50 bitcoins for 70 each*. Here you are sir
tard: here is your 100 x 50 real cash moneys!
him: here are your overpriced that I just bought for less using my bank account very quickly bitcoins! have a nice day and tell your friends!

[Anonymous No.645686]

>>645539
Are there seriously people who are that retarded, they just blindly buy up Bitcoins without bothering to first check how much they actually cost?
You type "bitcoin price" into google and it will tell you the price.
Unless of course you're just making shit up to "impress" /biz/, and make yourself feel good.

[Anonymous No.645689]

>>645686
>Are there seriously people who are that retarded
They're buying Bitcoin from some random dude aren't they?

[Anonymous No.645720]

>>645689
I'm pretty sure he is just making shit up.
>>642767
Seriously look at that retarded bullshit.
Yeah, he owns a brick-and-mortar shop selling computer parts, and made "tens of thousands" in profit from re-selling bitcoins to people who come into his shop.
What a load of crap.

[Anonymous No.646340]

>>643326
Bitcoin fog also seems to have fucked off with everyone's money. As of about 36 hours ago they stopped updating all customer account balances after deposits, and people are reporting that they haven't responded to any support messages.

[Anonymous No.646389]

>>641496
Bitcoin could be a profitable long term investment because there is a finite amount of possible bitcoins. If it ever gets to the scale of PayPal, you'd make money.

[Anonymous No.646416]

>>646389
Theres also a finite limited amount of poops I can take in my life. The funny thing is, eventually they may be more valuable than butts since fertilizer is getting more expensive.

[Anonymous No.646421]

>>646340
>another Bitcoin service stealing peoples money
I'll take things that dont surprise me for $500, Alex.

[Anonymous No.646542]

>>646389
>Bitcoin
>investment
Nope.

[Anonymous No.646709]

Blockchain tech is only going to grow and become more prevalent in our day to day lives.

> 2015 not owning a single whole bitcoin

"I have an entire bitcoin"
This will be significant in 10 years.

>metcalfe's law
>first mover advantage
>network effect
>distributed, decentralized protocol

[Anonymous No.646737]

>>646709
Stop, you're just embarrassing yourself.
>inb4 muh powerpoint deck
>inb4 bank execs tell me they're switching to bitcoin

[Anonymous No.646897]

>>641574
kek

[Anonymous No.646904]

>>646709
>>646737

hahahaha i posted all this shit like a week or two ago.

seriously though, the execs loved my ppt. we are officially in a wait and see mode, but that is because we are a large bank that prides itself on following it's competitors.

with bofa and chase accepting bitcoins i figure it is just a matter of time before we are forced into the market as well.

[Anonymous No.647880]

Runescape will accept bitcoin and once it's implemented on the grand exchange for digital items we're all rich.

[Anonymous No.647897]

>>646904
No one believed it then.
No one believes it now.

[Anonymous No.648393]

What is it with /biz/ and being so anti-bitcoin?

This board was created because of all the bitcoin shills, and it seems like you've had a 100% reversal since then...

I wonder if you guys thinking it's dead will stay around for a few months, will you kick and scream all the way up?

[Anonymous No.648471]

>>648393
>up

[Anonymous No.648484]

>>648471
From the current price, it has nowhere to go but up.

Feel free to short the market if you disagree

[Anonymous No.648488]

>>648484
You can't short something when there are no holdings groups and anyone stupid enough to take an uninsured margin for shorts is asking to get robbed.

The coin has no intrinsic value, it can always go down.

[Anonymous No.648516]

>>648488
There's plenty of places that let you margin trade (including short) like bitfinex and okcoin.

Yes the price can go down, that's supply and demand.

Where I disagree is that due to it's deflationary nature, and the rapid expanse in usage (we're at all time highs with the number of transactions) and the recent VC funding has gone beyond all expectations.

[Anonymous No.648638]

>>648393
>>648516
https://www.youtube.com/watch?v=CmhX4YT7yng
http://www.buttcoinfoundation.org/the-bitcoin-bowl-really-did-happen-and-we-had-someone-at-the-game
http://issuu.com/ybitcoin/docs/volume_2__issue_1
Everything about Bitcoin screams "ponzi scheme"
So it's no surprise to see shilling for the things here. People bought in with their life savings, and they feel the need to get NEW people on-board, in some desperate attempt to drive up the price of Bitcoin, so they can sell their Bitcoins once they've gone TO THE MOON!!!
Actually using Bitcoin (right now) to pay for goods/services? That's for other people to do!

[Anonymous No.648666]

>>644063
>>643053
>>642810
>>642823

>not posting proof, hundreds of people do it on that web site; just go look at random usernames and the number of transactions associated with their names
>if i was lying I'd come up with a better story than how to make $100 a DAY; I'd do better as a welder or a bus driver
>i never implied that it was my only job; I have a regular day job and I sell/buy bitcoins just to make extra cash
>my god some of you 4chan posters are complete retards

[Anonymous No.648669]

>>648638
I've been purchasing things with bitcoin since 2011.

It started off as mainly drugs, then I got some real uses, more recently I bought a holiday completely with bitcoin.

You need to get with the times my friend.

[Anonymous No.648673]

>>645686
dude
the reason that people will pay exorbitant fees for bitcoins is because thereisn't a convenient way for everyone to "get in" using Paypal or a credit card.

in many ways, bitcoin is a "trend" and so almost every day I meet someone who is buying Bitcoins for no other purpose than to be able to say he/she now possesses Bitcoins.

When you can had a person cash and they transfer the Bitcoins to you right there and then, some buyers feel more secure than doing it over the internet using obscure payment services.

Example : Someone just came in here a few hours ago and bought ONE bitcoin; my price (I post it conspicuously on a bulletin board) was $275 and they paid $275.

I really don't give a fuck if anyone believes me or not; I don't even know why I bother mentioned anything about it in the first place. As long as I'm the only person who seems to be doing this for miles around, I'm perfectly happy to bring in a few extra $ every day.

tl;dr 33% of the people on 4chan are stupid faggots

[Anonymous No.648675]

>>645720
"tens of thousands" over the course of a YEAR, retard

if you really think that that's a lot of money, then you are below the bottom tier when it comes to even knowing the URL of a place where things like "business" and "finance" are discussed; just the fucking electric bill here adds up to over $13,000 per year.

[Anonymous No.648713]

I'm sure: 1 μBTC = 1 dollar!

[Anonymous No.648718]

>on /g/ a long time ago
>bitcoin was $5
>no one gave a shit about bitcoin
>debated buying a couple hundred
>didn't
>feel like shit forever

[Anonymous No.648726]

>>641496
careful not to get b&ed

[Anonymous No.648727]

>>648718
Still not too late.

[Anonymous No.648734]

>>648393
>What is it with /biz/ and being so anti-bitcoin?
Most of the shills woke up. Before they did, they proved themselves to be MLP-level annoying so practically the entire board hates their guts. Add to that the fact that Bitcoin itself is garbage and there you go.
>>648484
>>648516
>trusting cargo-cult exchanges to short
No.
>>648669
>mainly drugs
Not surprised
>>648718
You made the correct decision.

[Anonymous No.648737]

>>648734

>price goes from $5 to over $200

How exactly do you work that out?

[Anonymous No.648742]

>>648737
Work what out? Not buying is the correct decision for the same reason not buying lotto tickets is the correct decision. Just because the gambler next to you lucked out doesn't mean you made a bad call.

[Anonymous No.648748]

>>648742

This board is forlorn

[Anonymous No.648749]

>>648748
For you, yes. Now go back to wherever it is you came from.

[Anonymous No.648750]

>>648749
I was on this board from day one, I posted one of the first 1000'd posts.

What the heck happened?

[Anonymous No.648755]

>>648750
I've also been on this board from day one.
>what the heck happened.
"Most of the shills woke up. Before they did, they proved themselves to be MLP-level annoying so practically the entire board hates their guts. Add to that the fact that Bitcoin itself is garbage and there you go."

[Anonymous No.648757]

>>648755
So do you trample on all innovation and entrepreneurs or just the ones you've been burned on?

[Anonymous No.648760]

>>648757
>do you trample on all innovation and entrepreneurs
No. Also, I wouldn't call cryptoshills entrepreneurs. The people who took advantage of cryptoshills to make actual money are the entrepreneurs.
>just the ones you've been burned on
I wasn't burned on BTC.

[Anonymous No.648764]

>>648760
>The people who took advantage of cryptoshills to make actual money are the entrepreneurs.

But that's exactly the point

Any crypto-thread gets shut down, like it's a no go area with this board.

Do you honestly think it has no future whatsoever?

Why have you been proven wrong on any actual statistic? (other than price of specifically 'bitcoin' in the past year)

[Anonymous No.648765]

>>648764
>But that's exactly the point
No?
>Any crypto-thread gets shut down, like it's a no go area with this board.
Like MLP threads.
>Do you honestly think it has no future whatsoever?
The blockchain does. Bitcoin doesn't.
>Why have you been proven wrong on any actual statistic?
I haven't been.

[Anonymous No.648769]

>>648765
>The blockchain does

So you dislike cryptocurrency, but don't care that it utilizes the blockchain technology?

>I haven't been.
Yes, you have.

transactions are up, hashrate is up, startups are up, wallets are up.

Literally anything and everything in this space is up, apart from the price (which has shown to be a wild volatile, but lagging indicator).

Why don't you just stick your head in the sand like the others that don't care?

Why do you have to drown out people who actually want to discuss this?

Why do you have to be such an anti-crypto shill?

[Anonymous No.648772]

>>648764
No one shuts down crypto thread. This is the ceypto containment board , they just died off. If some economic catastrophe leads btc back up all the altcoins will follow suit and it'll be worth playing with for beer money again. As it stands your time better spent in legitimate /biz/ matters.

[Anonymous No.648779]

>>648769
>So you dislike cryptocurrency, but don't care that it utilizes the blockchain technology?
You got it. The blockchain has plenty of uses. Currency isn't one of them.
>Yes, you have.
No, I haven't.
>Why don't you just stick your head in the sand like the others that don't care?
>Why do you have to drown out people who actually want to discuss this?
Because it's bad and I don't want to see others get sucked into it.
>Why do you have to be such an anti-crypto shill?
That doesn't even make sense. I have no financial incentive.

[Anonymous No.648782]

>>642706
> fair value $200K per BTC

Ftfy

[Anonymous No.648789]

>all these boat missers that are about to miss the boat TWICE

Just LOL. Screencapped and laugh'd on my lambo. Will post again in 2017, save'd picture for future butthurt'd.

[Anonymous No.648792]

>>648718
Don't buy now and kill yourself in 3 years.
Im screen capping all of the clueless grandpass here to trigger future suicides. Just lol.

[Anonymous No.648793]

>>648789
>implying everyone here isn't already aware of that picture
>implying it means anything

[Anonymous No.648819]

>>648779
>The blockchain has plenty of uses. Currency isn't one of them

Okay, can I ask why?

Do you see any benefits at all to using the blockchain as a currency?

[Anonymous No.648833]

>>648819
>why?
No central authority and inelastic supply. You could probably create a new cryptocurrency that fixed those problems, but supporters flip out when you suggest it.
>Do you see any benefits at all to using the blockchain as a currency?
As a currency? Not really. As a transfer system for other currencies? Sure. It works as a substitute for something like a check or wire transfer.

[Anonymous No.648839]

>>648833
Why does a currency need a central authority with an elastic supply?

People used gold before as a currency primarily because it had no central authority that gave it an "elastic" supply.

Today's currencies are a new phenomenon, and the way things are going their time is limited in my opinion.

And yeah, you're right, it has great uses as a transfer system for other things (literally anything).

I only disagree in that the blockchain requires security, that's currently supplied by the miners, and those miners need an incentive.

The blockchain only works because it has 'value', if you understand what I mean.

[Anonymous No.648853]

>>648839
>People used gold before as a currency primarily because it had no central authority that gave it an "elastic" supply.
Most gold currencies actually did have a central authority (that issued them and would debase them). Anyway, a gold currency doesn't actually work very well in an industrialized world (and not just because it's inconvenient). You only have to look at history to see what an unregulated money supply does to an economy (hint: it isn't good).
>Today's currencies are a new phenomenon, and the way things are going their time is limited in my opinion.
Bugs have been saying that for literally decades.

The world abandoned gold as money for a reason.

[Vroom Vroom No.648889]

>>643326
>Christ, what is it about Buttcoin and its ability to attract scammers and rubes?

Anonymous and untraceable is a magnet for thieves and hustlers.

You guys are too young to remember Flooz, but it got put outta buisness by russian mafia putting through boatloads of fake credit card transactions.

[Anonymous No.648897]

>>648669

What happens when your hard drive crashes and your life savings is wiped out?

[Anonymous No.648905]

>>648853
That's why I like to think of cryptocurrencies as gold 2.0

>>648897
I have backups m8

[Anonymous No.648938]

>>648905
>cryptocurrencies as gold 2.0
Which is why cryptocurrencies fail as currency.

[Anonymous No.648960]

Many reasons bitcoin are superior currency and to name a few:

Micro transactions
Multi sig wallets
No appeal to authority to participate
Global in nature
Digitally native
Limited and scarce supply

There are more reasons bitcoin will inevitably take over our finances

[Anonymous No.648967]

>>648960
>implying all those things are actually superior
>implying bitcoin is actually good for microtransactions
Enjoy those ever increasing transaction fees that will make bitcoin microtransactions expensive.

[Anonymous No.648971]

>>641496
if the moon is zero then you are right

[Anonymous No.648978]

>>648967
You are aware that the fees are not mandatory right? Side chains also make transactions instant and free.

Nice straw man you have there.

[Anonymous No.648981]

>>648978
It's sad that I understand bitcoin better than you do. Fees are not mandatory, but miners accepting transactions is also not mandatory. Right now miners are subsidized through monetary inflation, but as the limit approaches they will increasingly rely on transaction fees. They'll just stop accepting you and your transactions will take days if they go through at all.

[Anonymous No.648984]

>>648981
>what are side chains?
The scenario you posit would only matter in decades and that's after bitcoin becomes widely accepted and has had some measure of success .

Your only argument is literally
"But guys in 100 years, think of the fees"

[Anonymous No.648988]

>>648984
>but guys, think about the long-term viability of the currency!
You think people don't think about this stuff? You think it won't impact bitcoin becoming widely accepted?

[Anonymous No.649002]

>>648988
A lot can happen in 100years. To discredit an entire technology and financial system due to a hypothetical 100 years from now is pure asinine.

[Anonymous No.649005]

>>649002
Of course, it's not just what's going to happen 100 years from now. It's what already happening today. As I've already explained, Bitcoin is fundamentally flawed as a currency even without the microtransaction issue. It will never be more than a commodity.

[Anonymous No.649006]

>>648905

> Crypto
> Highly secure

oh yeah it's secure allright.

> Gold
> moderately secure

yeah man, it's really easy to counterfit gold and all.

[Anonymous No.649010]

>>649005
Please explain the flaw in bitcoin protocol that exists today.

[Anonymous No.649011]

>>649010
Once again, no central authority and inelastic money supply. Bitcoin as a currency would never work.

[Anonymous No.649016]

>>649011
Brah that's a total non sequitur and false dichotomy.

[Anonymous No.649020]

>>649016
No, it's not.

[Anonymous No.649024]

>>649011
Bitcoin, as a currency, does work.

I've used it on countless occasions and now transact with it more than anything else.

Your point is old and has no tact.

Go back to 2011

[Anonymous No.649025]

>>649020
You say cryptocurrency is inelastic except new cryptos are made everyday.

You say a central authority is needed except the blockchain protocol regulates itself.

Pleb please.

[Anonymous No.649027]

>>649024
That doesn't make it a currency any more than credit cards are a currency. Buying a good or service priced in USD/EUR/whatever using Bitcoin does not make Bitcoin a currency.
>>649025
>You say cryptocurrency is inelastic except new cryptos are made everyday.
I've yet to see the cryptocurrency with an elastic monetary supply. If you know of one, feel free to link it.
>You say a central authority is needed except the blockchain protocol regulates itself.
What is monetary policy?

[Anonymous No.649048]

>>649027
>Buying a good or service...using Bitcoin does not make Bitcoin a currency.

Okay

>with an elastic monetary supply

There's ripple, but that makes me want to puke.

Also it has nothing to do with cryptography, but at least it's centralised and heavily manipulated, so it's right down your alley.

[Anonymous No.649100]

>>649048
>Okay
Yep. There's this concept called unit of account. Only the most fringe, die-hard fanatics use Bitcoin as a unit of account and if you went back and applied it to the economy over the past few years you'd clearly see why Bitcoin would be a terrible currency.
>There's ripple
Ripple makes the most sense out of any of them, and at least it's not pretending to be its own currency.

[Anonymous No.649101]

>>649027
Monetary policy is a joke.

The free market is the only market.

[Anonymous No.649104]

>>649101
Tell that to the 1800's with its severe price fluctuations and severe, frequent depressions.

[Anonymous No.649105]

>>649101
or we could go even further back and look at the chaos that was money in the colonies.

[Anonymous No.649362]

>>649006
Its way easier than counterfeiting btc.

[Anonymous No.649365]

>>649011
Bitcoin is divisible by 0.00000001 or so. Stop the elastic shit faggot. Money supply is not an issue.

[Anonymous No.649373]

>>649104
Totally relevant to this day and age. Let's ask pre-industrial people about modern monetary policy.

[not user !XksB4AwhxU No.649686]

>>644037
bitcoin mixing is a thing
google it

[Anonymous No.649936]

bump for rally

[Anonymous No.649940]

>>649362
Easier to counterfeit, harder to steal.
>>649365
>Bitcoin is divisible by 0.00000001 or so
Irrelevant.
>Money supply is not an issue.
It is if you want a currency instead of a commodity.
>>649373
>1800s
>pre-industrial
Learning history is good for you. I'll give you a hint: the Second Bank of the United States ended in 1836 and the Federal Reserve started in 1913.

[Anonymous No.650036]

>>649940
How did the fed reserve start? Was it democratically voted on by the people?

Pro tip: it wasn't and modern monetary policy is corrupt.

[Anonymous No.650039]

>>650036
>Was it democratically voted on by the people?
Pro tip: It was passed by both houses of congress and signed by the President, so yes, it was.

[Anonymous No.650040]

>>650036

>Shill can't address a single criticism of cryptocurrencies without making ad homs and strawmen about the USD

[Anonymous No.650050]

>>650036
This mental retardation is what killed m00t (RIP). Who could have possibly thought anyone worthwhile would go to 4chan to discuss business? Mother of fuck.

[Anonymous No.650122]

>>650039
On which day of the year? Turns out it was Christmas Day and most members of congress weren't present, hardly democratic.

[Anonymous No.650135]

>>650122
That's an urban legend (or just an extra-dumb conspiracy theory)
1. It wasn't Christmas Day.
2. Even if every absent senator had voted against the bill, it still would be passed.
3. Many of the absent senators recorded their positions in the Congressional Record saying they would have voted in favor of it.

[Anonymous No.650141]

>>650122
Turns out that this isn't how it works, you mongoloid.

September 18: passes the house. December 18: passes the Senate. December 23: house and Senate do whatever they do to decide on the final form.

Pro tip: none of these are Christmas day.

[Anonymous No.650154]

>>650135
101 yay
435 seats in 1913 the 63rd house of congress.

Nice one guys

[Anonymous No.650161]

>>650154
Except it was 298 yay - 60 nay.

[Anonymous No.650179]

>>650161
Except it was 101
http://en.m.wikipedia.org/wiki/Federal_Reserve_System

[Anonymous No.650187]

>>650179
"The House voted on December 22, 1913, with 298 yeas to 60 nays, and the Senate voted 43–25 on December 23, 1913.[151] President Woodrow Wilson signed the bill later that day.[152]"

[Anonymous No.650199]

>>650161
I would stop responding to that retard. Libertarians are too far gone to reason with. Bitcoin libertarians are even worse because not only are they emotionally invested but now financially too. Arguing with one of them is like telling your 5 year old why he can't have candy for dinner. He' just not going to understand.

[Anonymous No.650236]

>everyone's face when Bitcoin has gone up by $20 since this thread started

[Anonymous No.650313]

>>650236
Interesting. That face is eerily similar to the face I make when Bitcoin is down $800 from a year ago.

[Anonymous No.650687]

>>650313
Interesting. That face is eerily similar to the face I made when people said Bitcoin would reach parity with USD during our lifetimes.

[Anonymous No.651266]

>>650236
aaaaand now it's gown down $30 since that post was made yesterday.
Fucking lol.

[Anonymous No.651269]

Which wallet should I get?

[Anonymous No.651332]

>>651269
Block chain and print it out

[Anonymous No.651576]

>>650687
Interesting. My face has been laughing for a year as I watch Bitcoin slowly dying.

[Anonymous No.651810]

>>642728
>and I think there will be other digital currencies more popular than bitcoin
it's a dying fad bitcoin's the end of it
the traders took over and the inflation from mining puts a lag on the upside
all the fed has to do is halt trading on it which would be the simplest thing and its' value would become negligable immedietly

[Crown Prince Of Rock No.651813]

>>650122
What? It was a win-win gambit imposed by both ends of the establishment. Ended a domestic conflict, saved the country from a lot of economy-stifling bloodshed.

But eventually turned into a win-lose. I win.
Hahaha

[Crown Prince Of Rock No.651816]

>>648960
>There are more reasons bitcoin will inevitably take over our finances
lmfao

[Crown Prince Of Rock No.651819]

>>648839
>Why does a currency need a central authority with an elastic supply?
Problem is when profit margins are high, there are no individuals held legally responsible for distributing the money supply (that would be fascist/communist) and expanding production decreases profit margins the money supply tightens to the point that the economy becomes dysfunctional.

This problem applies to bitcoin and accounts for the extreme volatility. The lack of central authority makes it an intolerable method of exchange for production. But it's adequeate for basic barter, which I don't get why people would waste their time on these days. That is unless they've been rejected by corporate which would mean that they are not good people.

You can't go into 7/11 and buy a case of beer with bitcoins and you never will be able to. Bitcoins are for people that have to hide in the dark to maintain their lifestyles. Yuck.

[Crown Prince Of Rock No.651820]

>>648484
Yeah right until it randomly becomes worthless.

Bitcoin is for creeps.
How can you people not imagine how it works? It's the creepiest.

[Crown Prince Of Rock No.651822]

>>646389
>Bitcoin could be a profitable long term investment because there is a finite amount of possible bitcoins.
It could be but it probably won't because once the mining potential ends the hustle loses its' luster and then the traders give it a final pump and then it dies forever.

Come on people wise up. Bitcoin isn't a worthy substitute for USD's unless you can't get your hands on USD's.

[Crown Prince Of Rock No.651825]

>>645122
>All you can do is drag the borrower to court or make a lien on collateral
Or you could oversee the account that you lend to buys assets that are as as valuable as the loan lol.

[Crown Prince Of Rock No.651828]

>>644699
hehehe liquidity

[Anonymous No.651831]

>>641656

$20 for each coin is too kind for a cryptocurrency backed by absolutely nothing. At least the butt coin has comedy potential.

[Crown Prince Of Rock No.651838]

>>651819
>That is unless they've been rejected by corporate which would mean that they are not good people.
At least in America. That doesn't apply to all the other countries.

[Anonymous No.651884]

>>650050
fuck off edgelord, you are not anomolous nor do you represent anyone here but yourself.

[Anonymous No.651957]

>>651820
>creeps
>creepiest

Are you a teenage girl?

[Anonymous No.651967]

>>641496
Oh shit. I just realized how stupid I am for not shorting bitcoins. Fuck.

[Anonymous No.652007]

>>651266
How Much Lower are We Going? Already at $2.25 !!!
https://bitcointalk.org/index.php?topic=51859.0

[Anonymous No.652008]

>>651576
Interesting. My face will be covered in my own cum when I have brain destroying orgasms from the pleasure of seeing boat missers as you cry tears of lava. Screen capping all of it to print and put all over my room and fap to it in 10 years when im so fucking rich.

[Anonymous No.652032]

daily reminder

[Anonymous No.652040]

>>652007
>>652008
Hey guys remember that time when Bitcoin went down for more than a year and then went up again above its previous high? Oh wait that never happened

[Anonymous No.652100]

>>641496
oh snap, another major exchange got hacked!

good thing all those bitcoin were backed by the federal deposit ins...oh wait

[Anonymous No.653109]

>>652100
I guess the CEO of bitcoin is going to jail again:(

I expect their stock price to drop drastically, we might see sub $200 bitcoins soon.

[Anonymous No.653773]

>>652040
First for everything.
Will you still be a nocoiner after this next reversal?

[Anonymous No.653777]

>>653773
>implying
Anyway, yes. Bitcoin isn't an investment, I don't speculate, and I have no use for it.

[Anonymous No.654372]

2010+5
>not investing in doge