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/biz/ - Business & Finance

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181119 No.181119[DELETED]  [Reply] [Original]

I have a few questions for you guys.

1) How interested are you in cryptocurrencies? Do you see it as more than just a quick way to make some extra cash?

2) Are you more likely to purchase or mine a "pump and dump" coin, or a coin with a possible future and longevity?

3) What services would you consider purchasing online with a cryptocurrency (Bitcoin or otherwise). This can include anything from a marketplace to gambling to a bitcoin equivalent of fiverr, etc. If none, why?

I'm really interested in your answers because I've been browsing /biz/ a lot and it seems like a big portion of the users don't actually care about cryptocurrencies other than they can quickly turn it into a few extra dollars a month. While all the shitty alt coins can be demoralizing for cryptocurrency as a whole, I want to know what it would take to get YOU interested in coins for more than just a way to exchange them for USD at the end of the month.

>> No.181158

I'm fairly confident the global currency reset could be bitcoin. The US has guys in black suits going around airports looking for casascius coins because they "want to know how much money is leaving the country". Money is the key word here. The fact that SHA2 is an NSA algorithm raises some suspicions as well.

The altcoin market is so diluted its basically a perfect example of the tragedy of the commons. I am done buying and mining, just going to hold until the next influx of speculators.

Not sure about spending anything yet, I don't want to be one of those 10 million dollar pizza stories.

>> No.181160

if i had $100,000 invested in cryptocurrencies i could make $100,000 a month off day trading and mining

>> No.181177

>>181119
1. I am not interested in them at all. I dont see them as a way to make cash.

2. I am equally likely to do neither of those two options.

3. There are no services online that I see ever needed a crypto for. I shop online pretty often, and I've never thought to myself "hey, this internet shopping is hard. I wish there was a better way" My credit card works just fine

>> No.181198
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181198

I have $96usd worth of bitcoin.
I think it has no future personally, none at all. I only bought in as a gamble, with only the money I could afford to throw away.

A few days ago I paid for a 4chan pass with my bitcoin profits.

The global elite bankers will never allow bitcoin to survive, therefore it's only worth playing as a short term gamble. I view it the same as a shitty penny stock.

You best believe next time that shit goes ont he rise I'm cashing out.

>> No.181205

>>181198
>implying banksters aren't the ones behind it
even if they weren't, they can't kill it. if they were going to, they would have done so already.

>> No.181216

>>181205
You best hedge your bet lest the fool will be separated from his money.

Of course I might be wrong, too. I'm in it for the short term though.

>> No.181220

>>181177

Yeah, I think this is how the majority of people feel. Bitcoin and other currencies are actually harder to get than USD so what is the benefit of using a cryptocurrency? If exchanges were around everywhere and hassle free without getting "hacked" every few months then maybe it would increase the use of bitcoins. But I feel like to the vast majority of people that are interested in cryptocurrencies are just in it to turn into USD at the end of the day.

Hopefully something will be released in the future to change that view though. Something that is actually easier to purchase with bitcoins or another form of digital currency that isn't illegal (the hardest catch of all) rather than USD.

>> No.181223

>>181205
False. It would be very easy to kill it with the amount of computing resources they can bring to bear.

>> No.181225

>>181223
And those resources have never been made use of.

>> No.181267

>How interested are you in cryptocurrencies?
From a curiosity and an analysis standpoint, very. From an actual long-term investment or currency standpoint, hardly at all.

>Are you more likely to purchase or mine a "pump and dump" coin, or a coin with a possible future and longevity?

I would be 'more likely' to do pump and dump, but I don't actually do either. I don't think any of the cyptos on the market have a real future.

>What services would you consider purchasing online with a cryptocurrency (Bitcoin or otherwise). This can include anything from a marketplace to gambling to a bitcoin equivalent of fiverr, etc. If none, why?

If I actually HAD cryptos, I'd be fine with using them to purchase whatever from whoever was willing to accept them.

For ME to be interested in cryptos, they would have to be regulated and backed by a large entity that I can put faith into (e.g. a notable national government). The current cryptos on the market are fundamentally flawed as currency.

>> No.181275

>>181225
Implying that the big shots aren't actually interested in killing it.

>> No.181286

AMLfag/lawfag here

The cryptocurrency bubble is going to burst

>> No.181295
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181295

>>181119

>1) How interested are you in cryptocurrencies? Do you see it as more than just a quick way to make some extra cash?

The human race in a state of cultural and technological evolution. Old traditions die hard but eventually the most efficient process will win the day. The printing press broke the power of trade guilds by making their secret formulas public. Internet is killing the power of old media. Bitcoin is only beginning its fight with old banking. Whether this be a short or long drawn battle the outcome is the same, the leanest meanest system will prevail.

>2) Are you more likely to purchase or mine a "pump and dump" coin, or a coin with a possible future and longevity?

pump and dumb altcoins if you want, but Bitcoin is the future.

3) What services would you consider purchasing online with a cryptocurrency (Bitcoin or otherwise). This can include anything from a marketplace to gambling to a bitcoin equivalent of fiverr, etc. If none, why?

I'd consider Bitcoin for every purchase if I could. It's like cash for the internet, far more secure than a credit card. With a credit card I am giving the company all the information it needs to make fraudulent purchases and to steal my identity. Bitcoin is simply a better system for transaction.

>> No.181310

>>181295

I'd like to think that's all sarcasm, but you can never really tell on the internet.

>> No.181312

>>181295

> It's like cash for the internet, far more secure than a credit card. With a credit card I am giving the company all the information it needs to make fraudulent purchases and to steal my identity. Bitcoin is simply a better system for transaction.

This is a good point.

>> No.181326

>>181310
No sarcasm. Only truth.

>> No.181602

>>181160
I have ~$70,000 in BTC, what would you do with it?

>> No.181647

>>181602
Your best bet is to just hold onto it if you believe in the long term potential. If you're VERY optimistic you could buy some futures and leverage your coins.

>> No.181695

>>181602

Sell while the selling's good.

>> No.181706 [DELETED] 

1) Immensely interested. I see Bitcoin to have a bright future, maybe litecoin and Unobtanium. The rest will die out with time.

2) A coin with a futute and longevity.

3) Subscriptions, maybe electronics.

>> No.181719

1) Immensely interested. I see Bitcoin to have a bright future, maybe litecoin and Unobtanium. The rest will die out with time.

2) A coin with a futute and longevity.

3) Subscriptions, maybe electronics.

>> No.181741

>>181119

1) Very interested, I think crypto holds the future.
2) Rather longevity but I switch when I get bored, all profits get turned into BTC anyways and maybe fiat later on.
3) Anything I would normally with fiat money. I was at the store today and had no cash on hand, I also forgot my credit card. In an instant I thought to myself ''Shit I wish these people accepted bitcoin'' I ended up going home and coming back without forgetting my dosh.

Cryptos still have a long way to go before wider adoption, too many people still don't quite understand what it is about.

>> No.181742

>>181119
1 - I think some of them are going to be used for a very long time but it's hard to tell which ones, Bitcoin's biggest problem is the long confirmation time and the huge blockchain, both of which could easily be solved but I'd think eventually another coin is going to take over as the big thing. BTC has some life in it still though, and there's definitely a market and a need for cryptos, although value is obviously inflated due to speculation. That may very well remain that way.

2 - Purchase, no, unless I'm doing daytrading I wouldn't, I mine them often though, they can be very profitable.
3 - I bought my 4chan pass with buttcoins, I'd welcome a large ebay-like site that uses them too, but properly large and backed by a company and full of all the chinese shit you can order from ebay, as then I wouldn't have to use paypal for that which puts like 8% fees on everything. I'd generally welcome buttcoin payment options for things I do online, webhosting at HostGator, Kimsufi dedi servers. Any reputable company accepting them is a plus, really, although I'd much prefer altcoins like LTC due to the shorter confirmation time.

>> No.181844

>>181602
convert it back to real money.

>> No.181867

>yfw you realize that all these retarded altcoins are literally just 4chan anons pumping and dumping and scamming each other all day

>> No.181881

>>181844
if bitcoin isn't real money then why did the fed freeze production of casascius coins

>> No.181900

>>181695
>>181844
morons. LOL (people told me to sell at $5, $20, $50, $75, $90, etc.)
>>181647
I agree, holding is the best bet if you already have a position. I was just curious what the guy would do to double his money in a month.

>> No.181914

>>181881

It is money. It's terribly flawed money, but money nonetheless.

>> No.181927

>>181900
>recommending realizing gains = morons

k. If you want to keep rolling the dice that's up to you.

>> No.181931

>>181914
you must really believe what you're saying by not backing that up

>> No.181933

>>181931

Do I really need to? The problems with Bitcoin have been discussed countless times.

>> No.181940

>>181933
the benefits outweigh whatever you may have in mind

>> No.181938

>>181867

I am going to post a thread next week based on these replies with something I think would interest people. I think people with this attitude will be pleasantly surprised. At the very least people seem interested in cryptocurrencies, but the two things that are lacking is an easy way to obtain and use said currency, and the fact that there is a distinct lack of services.

>> No.181942
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181942

>>181119
>Do you see it as more than just a quick way to make some extra cash?
Yes.

>>181119
>What services would you consider purchasing online with a cryptocurrency (Bitcoin or otherwise).

Same shit as usual, except with buttcoin they can't steal my identity and charge me more than I paid.

YOU need to make a Bitcoin ATM that will let me buy buttcoins with cash with no ID checking requirements.

>> No.181961

>>181940

They really don't. Actually using bitcoin as the main currency would be disastrous to the economy. The only real potential use is as a temporary medium for conducting transactions (as in, go from fiat to btc, transfer btc, immediately go back from btc to fiat). Even that could be done better than the current implementation.

>> No.181976

http://nymag.com/daily/intelligencer/2014/03/doomsday-cult-of-bitcoin.html

Cryptocurrencies aren't currency and never will be.

>> No.181989

>>181961
I get the feeling the global currency reset implies use of bitcoin as a meta-currency accounting for all forms of fiat, it won't ever be put into use in a 'disastrous' way

>> No.182011

>>181976
>doesn't bother to pull a single point from the article
crypto critics, everyone

>> No.182033

>>181927
I put in $1600 total.

I've realized my investment as return, and put my profits on 'dice-rolling mode' because I don't NEED the money right now.

I'm 21, I just graduated with a pair of degrees in microbiology and botany. I have no debt, and a total of just over $100k in personal net savings+investments.

I'm just going to let my money pile up until I'm fucking old, then I can spend it on my grandkids like you're supposed to.

>> No.182052

>>182011
Ponzi schemes aren't good for anyone except the early adopters. That point is gone.

>> No.182059

>>182052
oh fuck you, at least learn the difference between a ponzi and pyramid scheme

>> No.182061

>>182052
What makes you think the point of 'early' has been passed?

In every meaningful way Bitcoin is still in very early phases of adoption.

>> No.182079

>>182052

BTC isn't a Ponzi scheme, it's an economic bubble.

>> No.182085
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182085

>>182059
No wonder you invested in a ponzi scheme.

>>182061
Read the article.

>>182079

>> No.182090

>>182085
the sperg is strong with this one

>> No.182095

>>182090
Great argument.

>> No.182097

>>182095
>projecting

>> No.182366

>>182085
>http://nymag.com/daily/intelligencer/2014/03/doomsday-cult-of-bitcoin.html

Ok, I read it.

I disagree with your interpretation, and I disagree with the point of view of the author.

>> No.182428

I'll be dumping $700 onto maza coin thursday night, the moment I get paid
I'll have to go through bitcoin though first, right?

>> No.182449

>>182428

Why? You missed the pump and frankly it looks ropey as shit.

>> No.182485

>>182449
there'll be a second pump

>> No.182497
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182497

>>181989
How much would bitcoin be worth each if it did become a meta layer for all the currencies of the world?

>> No.182515

I think the future of crypto's will be very niche. Like arcade tokens, they're worthless everywhere except in the arcade. Also, nobody invests in arcade tokens expecting to resell them later.

>> No.182520

>>182515
>implying the internet or any establishment with a card reader is analogous to an arcade

>> No.182719

>>182485
>investing for the second pump before the dump

>> No.182754

>>182515
>implying there isn't a thriving market for old casino chips

>> No.182762

>>182515
>nobody invests in arcade tokens expecting to resell them later
>nobody invests
so they aren't like arcade tokens then

>> No.182782

>>182497

If by "meta layer" he means all currencies being backed by bitcoin, a LOT. That will never happen though.

>> No.182804

>>182782
which money supply definition would be valid for this? M0 or M4? confusing as hell.

>> No.182813

>>182804

Well it's definitely not M0, but yes, it would be confusing as hell.

>> No.182919

>>182719
that's how I role

>> No.183234

>>182497
A meta layer for currencies is what the ripple protocol is

>> No.183261

>>183234
bitcoin can be used just as well and it's actually a cryptocurrency, not centrally held by the ripple devs

>> No.183287

>>183234

Ah, so basically what I was talking about earlier when I said you would go fiat - crypto - fiat. Yeah, I think that's the most probable use for cryptocurrencies, but I don't particularly see why the major governments would go with BTC. If they decided that something like this should be the standard, why not just make their own version of XRP that's tailored to their needs?

>> No.183328

>>183287
there is a need for a revaluation of many currencies. that's the gist of the global currency reset. you don't think that the NSA could just one day go "oh btw we cracked SHA-2 Bitcoin is ours now" because it was their plan from the start?

>> No.183483

>>181220

Because you can send money internationally as easy as sending an email without dealing with paypal or western union's bullshit for free

>> No.183506

>>181938

>distinct lack of services
>http://spendbitcoins.com/places/
>300+ pages of businesses that accept bitcoin and more every week

K.

>> No.183532
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183532

1) very interested, initially in it for the extra cash, but i do see it has potential of becoming even bigger (aka mainstream)
2) purchasing new coins the day they are released, and make some cash when they hit exchanges and get popular (like mzc just earned me alot). also in LTC for the long run (pic related)
3) i order my pizza and other food with bitcoin (dutch version of takeaway.co.uk accepts it)

>> No.183536

bitcoin can only succeed if people actually market it
it's not being marketed because it's not physical, only pizzerias will take bitcoin

everybody's just holding and hoping for fluctuation, lazy fucks. you want to add value to this coin? ask retailers if they accept it, mail congress, talk about it with your bank, ask if a bitcoin option can be placed n ebay, amazon, ask your employer to pay you in bit, etc.
you don't want to put effort in, you just want to sit on your computer chair and score.
all value of goods that are not essential for human life like food, water, security and entertainment, are only as valuable as people say it is
this does include gold, stop bitching about your gold standards. gold's not actually a valuable industrial commodity, at all. why do you think people value it? it's rare, it's pretty, and it's easily formed into jewelry.

>> No.183543

>>183536
bitcoin has already succeeded.

>> No.183575

>>181119
1.I think it's kind of interesting in a way. But I also see it's potential dying because of how nebulous it is.

2.Both, spend more time mining bitcoin that has purchasing power rather then play a marketing game with them.

3.Virtually purchasing items that I wouldn't want traced, porn, streaming services, virtual goods, smallish things, nothing that I couldn't buy for over 100USD because of the potential for scammage.

>> No.183609

>>183536
>ask your employer to pay you in bit

Illegal. The minimum wage is denominated in your country's local currency.

>> No.183628

>>183609
yfw over 50% of IT professionals are asking to be paid in bitcoin

afaik it's not illegal to convert the exact quantity of wages to bitcoin and hand it to them that way.

>> No.183648

>>183628
Why in the shit don't they do it themselves.
And citations needed.

>>183575
>nothing that I couldn't buy for over 100USD
I mean nothing that would cost more then 100USD.