Bitcoin price projection. $1,000,000 by 2018

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Anonymous Fri Apr 18 19:37:47 2014 No.288445 [Reply] [Original]

Bitcoin price projection.

$1,000,000 by 2018

>>	Anonymous Fri Apr 18 19:38:47 2014 No.288447 File: 266 KB, 500x500, bitcoin_bankrupt.png [View same] [iqdb] [saucenao] [google] Alternate Bitcoin price projection. $1 by 2018

>>	Anonymous Fri Apr 18 19:40:16 2014 No.288454 >>288447 I think I'm voting for more this one than the prior

Anonymous Fri Apr 18 19:42:46 2014 No.288456
File: 13 KB, 330x248, innovators.png [View same] [iqdb] [saucenao] [google]

do you want to be an innovator buying at <$1000 or a Laggard buying at $1000000?

with less than $21 million bitcoins ever in existance and projected userbase of 2-3 billion human beings within 20 years, soon only the very wealthy will be able to own 1 or more BTC.

>>	Anonymous Fri Apr 18 19:44:16 2014 No.288459 >>288456 >$BTC >projected userbase of 2-3 billion whatamIreading.jpg

>>	Anonymous Fri Apr 18 19:44:46 2014 No.288458 File: 28 KB, 955x362, step up.png [View same] [iqdb] [saucenao] [google] you can see, bitcoin is following a regular step up pattern in price.

>>	Anonymous Fri Apr 18 19:50:03 2014 No.288466 >>288456 With less than 10 of my toenails in existence and over 7 billion people, only the very wealthy are able to own my toenail clippings

>>	Anonymous Fri Apr 18 19:51:33 2014 No.288467 File: 68 KB, 1180x842, bubble forecast.png [View same] [iqdb] [saucenao] [google] Bubble forecast for 2014 hitting $10,000 - $15,000 http://imgur.com/a/1JOc7

>>	Anonymous Fri Apr 18 19:53:32 2014 No.288469 >>288466 Also, I would have given them away for free several years ago but now that I have a jar full of my toenail clippings for the last several years, I won't part with them for less than $100 a piece.

>>	Anonymous Fri Apr 18 20:03:33 2014 No.288482 >>288445 Where did you get these?

Anonymous Fri Apr 18 20:08:03 2014 No.288491

>>288466
> ahh real monsters!

Do you remember that show nigga? It was on Nickelodeon, and these little nigger monsters used toenails as currency. They found out some old fuckbag saved his toenail clippings in jars and they pulled B&E on that newfag and tried to steal his shit.

TL; DR

I'm drunk and 90's shows were rad

>>	Anonymous Fri Apr 18 20:10:33 2014 No.288494 >>288482 He made it in MSpaint

>>	Anonymous Fri Apr 18 20:11:34 2014 No.288496 File: 464 KB, 1805x916, technical-indicators.png [View same] [iqdb] [saucenao] [google] My charts tell me we're about to see some major moves in bitcoin this year

>>	Anonymous Fri Apr 18 20:17:03 2014 No.288503 File: 5 KB, 718x88, Capture.png [View same] [iqdb] [saucenao] [google] >>288491 Are you this fgt?

>>	Anonymous Fri Apr 18 20:28:03 2014 No.288517 Yes OP I agree, It is a good day sunshine brothers.

>>	Anonymous Fri Apr 18 20:39:03 2014 No.288535 File: 34 KB, 712x493, breakout.png [View same] [iqdb] [saucenao] [google] breakout confirmed in the coming weeks $720 by end of next week

>>	Anonymous Fri Apr 18 20:45:33 2014 No.288541 File: 117 KB, 803x753, choo choo.jpg [View same] [iqdb] [saucenao] [google] MACD heading into green territory. Price bump to follow

>>	Anonymous Fri Apr 18 20:50:34 2014 No.288548 File: 94 KB, 1270x661, bottom is in.png [View same] [iqdb] [saucenao] [google] charts confirm. the bottom is in. time to buy!

>>	Anonymous Fri Apr 18 20:59:03 2014 No.288560 >>288548 You know id's are enabled right?

>>	Anonymous Fri Apr 18 20:59:33 2014 No.288559 technical analysis is bullshit. its all about fundamentals. i think buttcoin has a future assuming current trends hold. $1m/buttcoin? no way.

>>	Anonymous Fri Apr 18 21:03:34 2014 No.288565 >>288560 Am I pretending to be more than one person? there's nothing in the rules limiting how many times I can post in a thread. In a thread I started.

>>	Anonymous Fri Apr 18 21:05:33 2014 No.288572 >>288559 >$1000/buttcoin? no way. thats you. summer 2013

>>	Anonymous Fri Apr 18 21:07:33 2014 No.288576 File: 971 KB, 366x229, 46746733-thumb-up-.gif [View same] [iqdb] [saucenao] [google] >mfw nobody realizes OP is trying to troll autists into buying buttcoins

>>	Anonymous Fri Apr 18 21:11:33 2014 No.288580 >>288576 It is true. Nobody realized it.

>>	Anonymous Fri Apr 18 21:13:03 2014 No.288587 >>288576 >>288580 dogecoiners detected

>>	Anonymous Fri Apr 18 21:14:33 2014 No.288591 >>288535 What breakout? That chart is a month old. The price is currently $499, and I'd say a breakdown to sub-300 is far more likely in the next few weeks.

>>	Anonymous Fri Apr 18 21:16:33 2014 No.288594 >>288591 stay poor nocoins

>>	Anonymous Fri Apr 18 21:17:03 2014 No.288597 BDwHCHEmC3YTsRhHQmTB371VhT7gN2h5yi send your unwanted Blackcoin here to burn them

>>	Anonymous Sat Apr 19 12:18:32 2014 No.289383 I current price $497 $520 resistance will be broken by the end of this week. The bottom is now. Last chance to join the wealthy elite. If you don't own at least 1 bitcoin you will lead a miserable life in 10 years time.

>>	Anonymous Sat Apr 19 16:17:32 2014 No.289807 Current price $503 last few weeks chance to escape a life of grinding poverty and join the wealthy elite of the future.

>>	Anonymous Sat Apr 19 16:41:32 2014 No.289876 >>289383 >>289807 You guys are gonna get assreamed. It's going sub $300 before it sees another all time high, if that even happens.

>>	Anonymous Sat Apr 19 17:07:32 2014 No.289910 >>288458 >using a log scale Fuck, use linear faggot

Anonymous Sat Apr 19 17:12:32 2014 No.289918

>>288445
>>288458
>>288467
>>288541
>>288548
So tell me this.

You expect Bitcoin to hit all new crazy highs.

If that is true, then the same exact will be true of Litecoin.

There hasn't been a single time where Litecoin and Bitcoin deviated from one another. If Bitcoin reaches $10,000+, then that would mean Litecoins would hit $200+.

This Litecoins would be the only reliable 'altcoin' to invest in.

Thoughts?

>>	Anonymous Sat Apr 19 17:30:32 2014 No.289945 >>289918 Leave it to shitcoin shills to post graphs that are skewed in a desperate attempt to defend their investment sway people into buying. We have a term for that... Oh yeah; grasping at straws.

>>	Anonymous Sat Apr 19 18:31:32 2014 No.290058 >>289918 Yes and no, buttcoin and litecoin could be displaced by other coins, specially litecoin

Anonymous Sat Apr 19 18:36:30 2014 No.290062

>>289918
>If that is true, then the same exact will be true of Litecoin.

Nope.

http://techcrunch.com/2014/04/19/bitcoin-2-0-unleash-the-sidechains/

Sidechains completely negate the need for altcoins.

Additionally, Litecoin deviates from Bitcoin all the fucking time already.

>>	Anonymous Sat Apr 19 18:41:30 2014 No.290069 >>290062 >techcrunch Seriously? Also, those "sidechains" are full on scamcoins, are you seriously implying shit like mastercoin has a future?

Anonymous Sat Apr 19 19:25:46 2014 No.290119
File: 121 KB, 590x590, image.jpg [View same] [iqdb] [saucenao] [google]

>>289918
Litecoin is tier 2 currency of the new world order. It's what you'll use to buy your groceries. Bitcoin will be the reserve currency of the world. It's what you'll need to buy a house.

Only there isn't enough single bitcoins to go around. If you don't get in at these prices the most you'll ever see in your life (the average persons retirement fund or life savings) will be 1/10 of a bitcoin.

If you own a business, advertise that you accept bitcoin. Add your business to coinmap and coinlist. The worst thing that can happen is hat your SEO rankings go up due to the extra backlinks, the best case scenario is you earn a load of bitcoins.

>>	Anonymous Sat Apr 19 19:28:45 2014 No.290122 File: 9 KB, 211x123, image.jpg [View same] [iqdb] [saucenao] [google] >>289945

>>	Anonymous Sat Apr 19 19:53:15 2014 No.290179 I don't really know much about economics but I got given £250 from a distant relative who died a few weeks ago. I bought 1 bitcoin with it, and if it becomes worthless it doesn't particularly matter to me. What's the problem?

>>	Anonymous Sat Apr 19 19:59:15 2014 No.290198 >>290179 There are far fewer than 18 million bitcoins that will ever exist. You, sir, just bought your way into the future 1%. Pat yourself on the back.

>>	Anonymous Sat Apr 19 20:04:45 2014 No.290212 File: 40 KB, 650x1000, mtgoxliquidation.png [View same] [iqdb] [saucenao] [google] other bitcoiners have different predictions

>>	Anonymous Sat Apr 19 20:08:45 2014 No.290227 >>290212 what is that image saying? I don't understand.

Anonymous Sat Apr 19 20:12:15 2014 No.290237

>>290227
when they liquidate the magic the gathering online exchange's assets, the price of bitcoin is going to crash spectacularly, because dumping even a small portion of those coins on the market is enough to send the price under a dollar

the image is trying to get people together to stop this somehow, which wouldn't happen. it's up to the big bad government now, and they don't give a fuck about your e-pogs

Anonymous Sat Apr 19 20:17:15 2014 No.290257

>>290237
Just a butthurt mtgox user trying to scare monger in order to get his coins back from mtgox.

>top tip: those coins are gone forever, they're not coming back on to the market. Anyone selling 200,000btc would be stupid to send the price down to $1

>>	Anonymous Sat Apr 19 20:22:46 2014 No.290270 File: 103 KB, 420x517, 1337501867658.jpg [View same] [iqdb] [saucenao] [google] >>290237 >e-pogs

Anonymous Sat Apr 19 20:23:15 2014 No.290275

>>290257
they're selling off all of m:tgox's assets, including the bitcoins, and giving the proceeds to m:tgox's creditors. that's what "liquidation" means

>Anyone selling 200,000btc would be stupid to send the price down to $1
the government agents selling these do not give a fuck what the price of bitcoin looks like afterward. they are not bitcoin evangelists, you dumb fuck

>>	Anonymous Sat Apr 19 20:39:15 2014 No.290304 >>289910 you're retarded.

Anonymous Sat Apr 19 20:47:45 2014 No.290317

>>290275
>the government agents selling these do not give a fuck what the price of bitcoin looks like afterward. they are not bitcoin evangelists, you dumb fuck
You obviously don't understand bankruptcy.

They are legally required to maximize return to preferred holders, meaning they would be liable in the event one of the holders sued them for selling the coins all at once.

>>	Anonymous Sat Apr 19 20:49:45 2014 No.290322 File: 199 KB, 300x408, kimchi.png [View same] [iqdb] [saucenao] [google] >>290275 oh also, yea those coins are 'lost' They are irretrievably destroyed like any other data file that has been encrypted, and had the key lost.

>>	Anonymous Sat Apr 19 20:51:15 2014 No.290326 >>290304 This thread reminds me of the bygone era of AOL when a random autist would pimp a penny stock for twolimpdicks.com or whatever, trying to pull ye old pump & dump

>>	Anonymous Sat Apr 19 20:54:45 2014 No.290336 >>290317 What be the plaintiffs claim? That the bk trustee didn't time the market right? Gtfo

>>	Anonymous Sat Apr 19 20:58:15 2014 No.290341 how can bitcoin last if everyone is just hoarding them instead of spending

>>	Anonymous Sat Apr 19 21:02:16 2014 No.290348 >>290336 What would the claim be if the same thing happened with a fungible physical asset? Use your fucking head, its not hard to figure this shit out. >>290326 BTC is legitimately the best investment you can make, if you can't see that, your loss.

>>	Anonymous Sat Apr 19 21:20:15 2014 No.290385 >>290341 Think if it as an investment, not currency. Kind of like beanie babies

>>	Anonymous Sat Apr 19 21:43:20 2014 No.290435 >>290341 because thats not actually what is happening any more. how much money is in banks compared to how much is spent daily?

>>	Anonymous Sat Apr 19 21:51:50 2014 No.290449 >>290304 The log scale makes it look like it has totally recovered alredy, which it hasn't We have been in a downtrend for more than a pair of months

>>	Anonymous Sat Apr 19 21:59:50 2014 No.290468 >>290449 Its not his fault you can't read graphs. It doesn't look fully recovered, you're just dumb.

>>	Anonymous Sat Apr 19 22:06:50 2014 No.290472 >>290468 Bitcoin is as good as dead, shill. Stop trying to sucker these poor neckbeards into making the same bad investment you made.

>>	Anonymous Sat Apr 19 22:07:20 2014 No.290478 >>290468 This. Nobody thinks that Bitcoin has recovered. Everyone knows it has gone to shit.

>>	Anonymous Sat Apr 19 22:12:22 2014 No.290490 >>290472 I'm up $51k >>290478 nigger, I know you're wrong, and I'm leaving the thread. I don't need to convince you. You do.

>>	Anonymous Sat Apr 19 22:16:52 2014 No.290499 >>290490 >I've made a million off of Bitcoin and you can too! >Still apparently invested even after the bubble Nice try, shill. Game over.

>>	Anonymous Sat Apr 19 22:18:52 2014 No.290503 File: 85 KB, 300x254, silly you.jpg [View same] [iqdb] [saucenao] [google] >>290490 >I don't need to convince you. You do. Why would I need to convince myself?

>>	Anonymous Sat Apr 19 22:18:52 2014 No.290504 File: 42 KB, 1033x330, Capture.png [View same] [iqdb] [saucenao] [google] >>290468 such growth, such future, such recovery

>>	Anonymous Sat Apr 19 22:22:23 2014 No.290507 >>290504 >But Bitcoin is going to have another bubble bigger than the last! Why is that? >Because bitcoin always has bubbles and theyre always bigger! Sounds like some sweet logic there.

Anonymous Sat Apr 19 22:28:52 2014 No.290518

https://coinreport.net/people-dont-like-bitcoin-from-ex-haters-mouth/

from the article:
“Then it hit me. I didn’t hate Bitcoin, I hated that I didn’t know anything about it. I heard terms like mining, private keys, and cryptography, and became overwhelmed. Hoping that bitcoin would fail was a lot easier than learning about how it actually works. Ignorance was bliss for me.”

>>	Anonymous Sat Apr 19 22:31:52 2014 No.290524 >>290518 implying people on 4chan don't know anything about how bitcoins work

>>	Anonymous Sat Apr 19 22:35:22 2014 No.290529 >>290518 Lol doesn't know anything about it and still hates it. I call that intuition. I hate Bitcoin BECAUSE I know more about it than most Bitcoin shills.

>>	Anonymous Sat Apr 19 22:38:22 2014 No.290533 >>290518 >people on /biz/ the board created because of cryptos don't know about cryptos I don't hate bitcoin, I love bitcoin But I hate shills and jews, so fuck you

>>	Anonymous Sat Apr 19 22:42:22 2014 No.290538 Why won't people play around more with stocks than unpredictable retarded bitcoin. I see larger profit in the long run with stocks, than bitshit. Feels good buying 10,000 AMD stocks at 2.50 last year and their value is supposed to reach 5 bucks a share

>>	Anonymous Sat Apr 19 22:44:52 2014 No.290543 >>290538 >long run The main reason why we toy with bitcoin, is fast as furck Also, actual stocks need a real amount to invest, not just a few hundred bucks I doubt AMD will reach 5 soon, shit has not been going that well for them

Anonymous Sat Apr 19 22:46:22 2014 No.290545

>>290529
Seems from this article statistically speaking the more you know about bitcoin generally you will be more accepting of it.

https://bitcointalk.org/index.php?topic=560484.0

From the article:
"Support for bitcoin increases with income and education and declines with age, men slightly more supportive."

>>	Anonymous Sat Apr 19 22:50:52 2014 No.290551 >>290543 >not just a few hundred bucks Started with 500 dollars in my online broker account. I now have over 2 million dollars.

>>	Anonymous Sat Apr 19 22:53:22 2014 No.290555 File: 179 KB, 230x454, T-T-T-T-UEL.png [View same] [iqdb] [saucenao] [google] >>288445

>>	Anonymous Sat Apr 19 22:54:52 2014 No.290558 I regret not buying some of these when they were at $120 only a few weeks ago. How long will it take before it crashes again?

>>	Anonymous Sat Apr 19 22:55:52 2014 No.290560 >>290555 >comparing tulip bulbs to C++

>>	Anonymous Sat Apr 19 22:56:23 2014 No.290561 >>290545 Is that why Warren Buffet said "Stay away from it. ... It is a mirage basically."? >income: check >education: check >men: check >ago: old 3 out of 4 ain't bad!

>>	Anonymous Sat Apr 19 22:58:52 2014 No.290563 >>290560 >implying It's SHA-256

>>	Anonymous Sat Apr 19 22:59:52 2014 No.290565 >>290558 to get that price you would have had to buy them on gox and if you don't know why that was a bad idea maybe you shouldn't be buying shitcoins

>>	Anonymous Sat Apr 19 23:01:22 2014 No.290568 >>290563 C++ is what puts that algorithm to use if I understand correctly

>>	Anonymous Sat Apr 19 23:04:22 2014 No.290570 >>290568 Yeah, but it can be implemented using other languages, like Java or whatever

>>	Anonymous Sat Apr 19 23:09:44 2014 No.290576 >>288445 en.wikipedia.org/wiki/South_Sea_Bubble#Inflating_the_share_price If this doesn't look familiar by now I don't know what will lel

>>	Anonymous Sat Apr 19 23:11:46 2014 No.290581 >>290576 >THIS >inb4 samefaggotary because I'm the same person If you guys don't learn from history then I don't know how you will learn from anything.

>>	Anonymous Sat Apr 19 23:13:12 2014 No.290584 >>290576 It's shilling that tanks the price of the bitcoin, I like the concept but the people who keep trying to pump it crash the price. I bought 500 bitcoins when it cost 50,000 btc for a pizza. Goood times.

>>	Anonymous Sat Apr 19 23:14:14 2014 No.290585 >>290576 Forgot to link Tulip Mania too, google it.

>>	Anonymous Sat Apr 19 23:15:15 2014 No.290587 >>290576 Ha HA! Ponzi's and Pyramids

>>	Anonymous Sat Apr 19 23:17:32 2014 No.290589 >>290576 10/10 these suckers, hooked, lined again!

>>	Anonymous Sat Apr 19 23:21:26 2014 No.290593 Made a quarter mil off bitcoin.I don't care if you dumbfuck neckkbeards think it was luck., it wasn't. I saw the potential in bitcoin from day 1 and even predicted it would go up to 1K.

>>	Anonymous Sat Apr 19 23:22:28 2014 No.290595 >>290593 I made a quarter mil

>>	Anonymous Sat Apr 19 23:25:20 2014 No.290601 >>290551 I made a quarter mil `

>>	Anonymous Sat Apr 19 23:37:29 2014 No.290623 >>288445 I tell people as a bitcoin entrepreneur, if they had invested just 100$ into bitcoins, they'd be a millionaire.

>>	Anonymous Sat Apr 19 23:46:01 2014 No.290632 How much will be transaction fees? $100 per transaction? As now it's 0.0001 BTC, it's $0.01.

>>	Anonymous Sat Apr 19 23:50:54 2014 No.290642 >>290632 No, you don't have to pay miner fee at all times, learn how it fucking works dumbass

>>	Anonymous Sat Apr 19 23:53:20 2014 No.290646 >>290642 What if I send 1000000 transactions of 1 BTC without fee?

>>	Anonymous Sat Apr 19 23:56:17 2014 No.290653 >>290646 what if? learn to google, I'm not answering dumb questions like this

>>	Anonymous Sat Apr 19 23:57:14 2014 No.290656 >>290653 Why not?

>>	Anonymous Sat Apr 19 23:58:48 2014 No.290660 >>288445 Wait that shit hasn't crashed yet? I thought it crashed months ago.

Anonymous Sun Apr 20 00:15:41 2014 No.290678

I own exactly 1 Bitcoin.

When will I be able to sell it and buy a house?

What do you suppose the next highpoint will be, i.e. the price to seriously consider selling at once it is reached?

Will Mt. Gox liquidating cause a gigantic soar in the value of Bitcoin due to the fact all of the coins Gox has/had will be confirmed as completely eliminated from circulation a-la burning a billion dollars in a bonfire?

>>	Anonymous Sun Apr 20 00:18:22 2014 No.290680 >>290646 dust protection

>>	Anonymous Sun Apr 20 00:20:16 2014 No.290685 >>290678 Never :) It will cost 20 dollars by 2015\|

Anonymous Sun Apr 20 00:33:02 2014 No.290697

>>290435
Biased as fuck question. I think bitcoin is retarded, has no chance of taking over the dollar, and hate bitcoin shills. But since I'm not completely mentally disabled, I don't think that it "shouldn't be allowed" to be used to buy goods and services.

If people want to buy goods with boogers and someone else is willing to sell goods for boogers, I don't think we should stop that.

>>	Anonymous Sun Apr 20 00:37:48 2014 No.290704 >>290697 I don't know how I quoted that post instead of >>290545 Which leads in to the following though: It's pretty fucking scary that 40% of college educated people think the government should actually ban people from using monopoly money.

>>	Anonymous Sun Apr 20 00:39:59 2014 No.290709 >>290198 >There are far fewer than 18 million bitcoins that will ever exist. You, sir, just bought your way into the future 1%. Pat yourself on the back Oh ffs, there will be 21million in the year 2140 when mining ends. Get better info.

>>	Anonymous Sun Apr 20 00:51:08 2014 No.290722 File: 347 KB, 1600x1204, btclambo1.jpg [View same] [iqdb] [saucenao] [google] >>290584 >50,000 btc for a pizza >I don't know anything about BTC so I hate it It was 10k BTC, nocoins.

>>	Anonymous Sun Apr 20 00:59:30 2014 No.290726 >>290722 Why do BTC shills always come off as such retarded faggots?

>>	Anonymous Sun Apr 20 01:09:27 2014 No.290734 >>290726 Cry harder and give actual facts like I just did. >2010 >10,000BTC >pizza >2013 >200BTC >Lambo >2018 >1BTC >? Deal with it.

>>	Anonymous Sun Apr 20 01:15:29 2014 No.290739 >>290576 >Craggs the Elder and Craggs the Younger both died in disgrace Damn if that isn't poetic I don't know what is. I wish that people still died of disgrace.

>>	Anonymous Sun Apr 20 01:34:34 2014 No.290757 can some rich bro help me start with silk road? 16sxvBipJcJ SibhcABukem MFKADuL8wUp4

>>	Anonymous Sun Apr 20 02:45:55 2014 No.290838 >>288445 >$1,000,000 by 2018 So that means hyperinflation by 2018? Doesn't sound too far fetched.

>>	Anonymous Sun Apr 20 02:49:15 2014 No.290844 >tfw thought my outdated laptop would something generate me a few cents >tfw opened a bitcoin wallet and its empty can someone give me even 0.0000001 bitcoin so I have some joy 1KRJjGnnjJDtYN69kGEeo56BcUpYdHczrL

>>	Anonymous Sun Apr 20 06:02:28 2014 No.290934 >>290838 2015 mega crash is gonna be hell. Dollar can only go one direction now.

>>	Anonymous Sun Apr 20 06:03:17 2014 No.290935 >>290317 >government agents holding bitcoins are legally obligated to maximize its price for fear of being sued by bitcoin owners Hahah what the fuck I can't stop laughing

>>	Anonymous Sun Apr 20 06:08:39 2014 No.290939 >>290709 Many early adopters have lost their private keys, a few million of the 21 million will never be in circulation. I took that into account when coming up with 18 million.

>>	Anonymous Sun Apr 20 06:20:42 2014 No.290946 >>290935 >government agents Tell me about your inside knowledge of the mtgox legal proceedings you shit talking fuckwit

Anonymous Sun Apr 20 06:25:50 2014 No.290951

Are all the anti bitcoin shills from some bumfuck nowhere place in Midwestern America?

Because here in London you can spend bitcoins at about 600 legitimate actual physical shops. Ranging from charity shops to bars and restaurants to design shops to legal practises to removals companies.

I can walk around Shoreditch and spend bitcoins every 50 yards. I can even buy a burger with doge

Welcome to the modern world anti-bitcoin shills

>>	Anonymous Sun Apr 20 06:46:22 2014 No.290964 >>290946 I was just laughing at some other Anton's stupidity. No need to get your panties all in a bunch, faggot.

>>	Anonymous Sun Apr 20 07:03:33 2014 No.290971 >>290951 Naw lol. I am from California. I just love to shit on Bitcoin shills because they get mad and it's funny. It's like most of these people have actual money invested in this or something.

>>	Anonymous Sun Apr 20 07:15:32 2014 No.290975 >>290971 California >bumfuck nowhere >mutually exclusive Get back in your trailer dickhead

Anonymous Sun Apr 20 07:20:12 2014 No.290982

>>290964
>Anton's
fucking topkek + lel, I know general spelling error but can we make this a new era of 4chan and start calling everyone Anton, Anton?
>Implying that you have the power to do so as you are /biz/'s new demigod
>You should say yes and we should make this thing, a thing

Anonymous Sun Apr 20 07:23:30 2014 No.290984

>>290951
If you use it as a legitimate currency and / or way of spending you shouldn't care about price differences or the anti shills.
>inb4 lose of value

They promote it either way and someone can see that "hey this is worth something" if they have half a brain and judge if it's worth the risk based on their financial position.

Look at Lil Wayne for instance, he made it big because so many people took shit about him and the 1% who like him have his back causing more up-roar.

>shit works, it's cash and coin (no pun intended)

>>	Anonymous Sun Apr 20 07:26:35 2014 No.290988 >>290984 Weezycoin coming soon.

>>	Anonymous Sun Apr 20 07:34:17 2014 No.291000 File: 140 KB, 1136x640, image.jpg [View same] [iqdb] [saucenao] [google] >>289807 Current price $507. Last week to buy before it hits $700.

>>	Anonymous Sun Apr 20 07:41:32 2014 No.291007 >>288445 Daily reminder that BTC will be in single digits within the next 5 years, if it even exists at all by then. You'll all look like idiots for buying into such a dumb fad.

Anonymous Sun Apr 20 07:50:57 2014 No.291013

>>291007
>Cryptographic currency created by ??? (Team of cryptographers and mathematicians apparently working for free and writing papers in British English) and tacitly supported by financial and tax authorities in the US and UK. With an ETF due to be launched in the coming year.

>not going to be around in 5 years time

Maaan you have to wake up and see which way the wind is blowing.

Anonymous Sun Apr 20 08:16:44 2014 No.291027

I had a friend invest over 8k in mining equipment a few months ago to mine coins, hes all on the anti ASIC coins because hes a fucking mong and didn't consult anyone and got caught up in his lala land excel predictions.

Also mining in Australia at 0.30kw/h, what the actual fuck, he still brags about how many coins hes made I cant wait until his quarterly power bill comes in.

>>	Anonymous Sun Apr 20 08:17:32 2014 No.291028 >>290275 So a liquidator with liabilities up to its tits is going to send its coins to a far off land to a shaky exchange, destroy the price completely and then be told that they've been unverified or that the money has gone? You sir are smoking crack

Anonymous Sun Apr 20 08:23:45 2014 No.291030

>>291028

I don't think you get how banks think. When they seize assets for bankruptcy, they just sell it for whatever they can get for it. They will sale houses, cars, and other assets for pennies on the dollar. All they care about is getting their money back.

>>	Anonymous Sun Apr 20 08:33:32 2014 No.291045 >>291030 >you think they will send the coins to bitstamp? I know it's 4/20 but could you wait till the evening to get high?

>>	Anonymous Sun Apr 20 08:35:39 2014 No.291048 200,000 coins is 48 hours volume on bitstamp some days. It's highly unlikely to crash to 0.50. Anyway if it does I and thousands of other people will be buying up cheap coins.

>>	Anonymous Sun Apr 20 08:38:47 2014 No.291055 >>291027 I have a mate that mines doge. In six months he mined ~$300 USD. Too bad his power bill was $2600AUD

>>	Anonymous Sun Apr 20 08:45:29 2014 No.291062 >>291055 What you're saying is doge is 9x undervalued

>>	Anonymous Sun Apr 20 08:47:56 2014 No.291064 >>291062 what I'm saying is he's an idiot.

Anonymous Sun Apr 20 09:46:03 2014 No.291114

>>291045
Not same guy but seriously you need to actually spend the 30 seconds it would take to learn what happens when a bank seizes and liquidates a company. You can straight up buy houses for at most $30,000 because the bank just wants to get rid of it as fast as possible, they don't give a shit how much for.

>>	Anonymous Sun Apr 20 09:47:08 2014 No.291116 >>291062 What does undervalue have to do with the kW/h price in Australia? Stop being so jumpy.

>>	Anonymous Sun Apr 20 11:32:36 2014 No.291176 >>291055 he's a moron for mining that shit coin anyways.

>>	Anonymous Sun Apr 20 12:12:03 2014 No.291213 >>290704 >implying college educated in America means anything significant. >implying 40% whereas 60% want to legitimize bitcoin.

>>	Anonymous Sun Apr 20 12:42:59 2014 No.291268 File: 85 KB, 575x419, Un123add-1.jpg [View same] [iqdb] [saucenao] [google] >>290237 mtg ... magic the gathering

>>	Anonymous Sun Apr 20 14:05:24 2014 No.291389 File: 48 KB, 620x387, 1368054421936.jpg [View same] [iqdb] [saucenao] [google] >>289910 haha you cant be serious

>>	Anonymous Sun Apr 20 14:07:52 2014 No.291393 >>289918 the protocol actually will follow the network effect. no altcoins will exist. bitcoin is love, bitcoin is life bitcoin is all

>>	Anonymous Sun Apr 20 14:11:24 2014 No.291401 >>288591 based on what exactly? i feel as if you just pulled that number out of nowhere. we are >1% odds of hitting below 400 before we hit $2K. I would give you my source on this but you'd just be in another place you aren't wanted.

>>	Anonymous Sun Apr 20 14:15:45 2014 No.291407 >>290499 you obviously have only looked at the 2013 graph. but hey game over, please for your own future, dont buy bitcoins. promise me you will never buy bitcoins.

Anonymous Sun Apr 20 14:18:53 2014 No.291415
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>>290529
oh please tell me why it isnt an evolutionary step in our monetary system.
tell me how we are not seeing the first application of Metcalfe's law
tell me how you wont ever buy them
>mfw in 5 years you're re-reading this when BTC is ~1M$ relative buying power of today.

>>	Anonymous Sun Apr 20 14:23:58 2014 No.291422 >>290935 FEDS wont liquidate them you moron. Why do you think they didnt take part in the 2013 mania? as much as you'd like to think our government is retarded, they deserve some credit. If the feds wont let them go, that should tell you something

>>	Anonymous Sun Apr 20 15:00:08 2014 No.291465 >>291407 Don't worry, the Bitcoin fad is over. Game over dude, hopefully you didn't buy too many at $520.

>>	Anonymous Sun Apr 20 15:44:42 2014 No.291525 >>290551 bullshit god I hate how easy it is to make money when you already have it I can't get over the hump, I've only got $10k left in my bank account

>>	Anonymous Sun Apr 20 15:53:53 2014 No.291533 >>291415 >when BTC is ~1M$ relative buying power of today Poe's law in full effect here

Anonymous Sun Apr 20 15:58:46 2014 No.291540

>>291213
>implying 40% whereas 60% want to legitimize bitcoin.
It's like you didn't even read what was asked in your own link
>implying college educated in America means anything significant.
Apparently not, given idiots like you can't even interpret a survey question.

>>	Anonymous Sun Apr 20 16:04:25 2014 No.291545 >>291533 >1 trillion dollar market cap >extreme

>>	Anonymous Sun Apr 20 16:14:22 2014 No.291556 >>290988 Coinye West is already made. Also Ron Paul Coin.

>>	Anonymous Sun Apr 20 16:19:25 2014 No.291564 File: 420 KB, 256x192, 1358755615097.gif [View same] [iqdb] [saucenao] [google] >>291013 His office is fumigated every night with JP Morgan's concentrated farts that are harvested monthly from JP clones that are fed bean burritos on a bi-hourly basis.

>>	Anonymous Sun Apr 20 16:21:23 2014 No.291568 >>290975 >Los Angeles. >One of the major economic hubs of the world Lol stay assmad, baby.

The Cancer Mon Apr 21 03:16:52 2014 No.292788

>>288456
That still isn't a lot.

Literally nothing has ever even remotely proven the "fact" that just because there is a limited number of something means it is worth anything.

You realize it takes probably the most amount of effort than all currencies to understand. This will cripple and always make the user base less than what it could be.

I'm surprised it has gone from how cheap it was to now but it still isn't a "legit" currency.

>>	Anonymous Mon Apr 21 04:53:04 2014 No.292874 >>292788 it's value comes from it's usefulness... as a currency

>>	Anonymous Mon Apr 21 06:15:31 2014 No.292940 >>290623 >If you had invested $100 into apple computer in 1976 you'd be a millionare

>>	Anonymous Mon Apr 21 07:02:24 2014 No.292972 >>291568 >>One of the major economic hubs of the world >LA >Major economic hub El-Oh-Fucking-El

>>	Anonymous Mon Apr 21 07:11:35 2014 No.292986 >>288445 it will dip significantly due to a coin that gives you privacy

>>	The Cancer Mon Apr 21 08:15:54 2014 No.293027 >>292874 What is so useful about it? What makes it so that I would prefer to use bitcoins over standard USD? Illegal transactions are not an excuse since it still gives it no legit use.

>>	Anonymous Mon Apr 21 08:20:13 2014 No.293030 >>292874 Luckily for bitcoin investors, we've seen that no other crypticurrencies can be created to fill the same anonymous online payment niche role.

>>	Anonymous Mon Apr 21 08:40:14 2014 No.293036 Whens the next pop coming , oh how i enjoyed that /r/Bitcoin subreddit with the suicide hotline stickied.

>>	Anonymous Mon Apr 21 13:53:42 2014 No.293416 >>291568 >LA pls stop, i'm crying hahahahahahaha

>>	Anonymous Mon Apr 21 17:37:03 2014 No.293833 >>292972 >>293416 You guys are way too easy lmao.

Anonymous Mon Apr 21 20:46:19 2014 No.294188
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>>293027
No transaction fees.

If I'm a merchant, which I am. I don't want to give a percentage of my profits to paypal or credit card processing.

It's also popular with young+well off demographic.

>>	Anonymous Mon Apr 21 20:49:06 2014 No.294191 >>294188 Merchants can try to use what they want but that doesn't mean consumers will. Consumers don't care about Paypal fees because they don't pay them and Paypal offers consumer protection in case the merchant tries to scam or fraud them.

>>	Anonymous Mon Apr 21 21:53:57 2014 No.294286 >>294191 They will notice when the savings I make on transactions are used to cut my prices.

>>	Anonymous Mon Apr 21 21:56:09 2014 No.294294 And I offer excellent consumer protection. Because it's the law.

Anonymous Mon Apr 21 22:31:41 2014 No.294382

>>294286
Not really. As more and more people realize that BTC does not allow for chargebacks they will not use it anymore. As more and more merchants realize that they can scam and fraud consumers with it, they will, and it will give BTC a bad name. BTC is terrible for common transactions.

>>	Anonymous Tue Apr 22 05:40:42 2014 No.294937 >>294382 That's a very shaky argument you have there.

>>	Anonymous Tue Apr 22 05:44:05 2014 No.294941 >>294937 And I try to spend my money at nice libertarian businesses that respect my freedoms.

>>	Anonymous Tue Apr 22 05:46:23 2014 No.294945 >>294937 Not really. It is actually a pretty solid argument.

>>	Anonymous Tue Apr 22 06:00:21 2014 No.294959 >>294945 Nah m8 it's weak.

>>	Anonymous Tue Apr 22 06:04:42 2014 No.294966 File: 10 KB, 120x163, image.jpg [View same] [iqdb] [saucenao] [google] >>294382

>>	Anonymous Tue Apr 22 17:03:46 2014 No.295851 >>294959 Nah m8 you're weak.

Anonymous Tue Apr 22 17:44:51 2014 No.295979

>>294382
>>294382
>Not really. As more and more people realize that cash does not allow for chargebacks they will not use it anymore. As more and more merchants realize that they can scam and fraud consumers with it, they will, and it will give cash a bad name. cash is terrible for common transactions.

>>	Anonymous Tue Apr 22 17:46:19 2014 No.295982 >>295979 Do you even online, bro?

>>	Anonymous Tue Apr 22 17:47:19 2014 No.295985 >>295982 >can only talk in memes fuck off

>>	Anonymous Tue Apr 22 17:48:25 2014 No.295988 Is it actually a good time to buy?

Anonymous Tue Apr 22 17:52:57 2014 No.296006

>>295985
Ok let me talk in plain basic English so you can understand me better. I know this is a tough concept for you.
>people use cash in person because they can inspect goods before they buy it
>people need consumer protection buying items online because they can't inspect items before they buy it. the merchant can also ship them something entirely different than what they bought
>Bitcoin is terrible for online transactions because if you get fucked by the merchant? No recourse!

Anonymous Tue Apr 22 18:16:42 2014 No.296067
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>>296006
you should be willing to part with the anonymity and the tax haven aspects of bitcoin for some federal regulation, anon. each person, not just merchants, needs to be a registered money transmitter, and hopefully able to be brought to court. like calling the police if your cash is stolen, but not totally pointless.

Anonymous Tue Apr 22 18:27:02 2014 No.296092

>>296067
>and hopefully able to be brought to court. like calling the police if your cash is stolen
This works in a local sense with cash, yet all the police do is file a report in most instances and don't follow through with an investigation unless the theft is in the thousands or there was another crime committed as well (i.e. armed robbery) . The problem is when you are buying things online they are usually in another state or even another country. Try taking someone who lives in France to a small claims court. It just isn't feasible. Not to mention people don't even like going to court and wasting time, especially over something that costs $20. You end up losing more than you gain in time lost, gas to get to the courthouse, court fees, etc. Paypal charges fees but they offer a great service. I don't see Bitcoin offering that level of consumer protection. That is why it will never be used for most common transactions.

>>	Anonymous Tue Apr 22 18:48:00 2014 No.296118 >>296006 >>296067 DarkMarket Also, have you never heard of escrow? How the hell are you on /biz/ without knowing what escrow is?

>>	Anonymous Tue Apr 22 18:51:08 2014 No.296123 >>295988 yes, just like the guy at the train station said.

>>	Anonymous Tue Apr 22 18:56:25 2014 No.296130 >>296118 So what you are saying is that you would destroy anonymity, limit speed of transactions, pay fees to a middle man (escrow service)... isn't this antithetic to what Bitcoin was designed for? Also, how is this better than our current system?

>>	Anonymous Tue Apr 22 19:21:16 2014 No.296198 >>296130 >DarkMarket http://www.youtube.com/watch?v=lHVqH8XO1Pk

>>	Anonymous Tue Apr 22 19:38:25 2014 No.296233 >>296198 Ahhh great another Silk Road. >It is peer-to-peer! Because there is no central server it can escape regulation! Yea that really worked great for Napster.

>>	Anonymous Tue Apr 22 19:44:04 2014 No.296245 >>296233 You just made yourself look insanely retarded. I'll let you figure out why.

>>	Anonymous Tue Apr 22 19:45:04 2014 No.296249 >>296245 >you're wrong! >no counter argument Nice try bud.

>>	Anonymous Tue Apr 22 19:51:14 2014 No.296257 >>296249 I actually have three, but I"m typing with an on screen keyboard, so fuck you. figure them out.

>>	Anonymous Tue Apr 22 19:52:27 2014 No.296260 >>296257 >still no counter-argument Because there is none. Just stop already.

Anonymous Tue Apr 22 20:00:44 2014 No.296272

>>296260
>fine, i'll fucking point them out
1. silk road was a centralized escrow service
2. Napster hosted p2p shit, but was never p2p itself.
3. "It is peer-to-peer! Because there is no central server it can escape regulation!" mocking this concept doesn't make it less true.

tor, torrents, gnutella, limewire etc. unstoppable.

Anonymous Tue Apr 22 20:08:51 2014 No.296287

>>296272
I bring up Napster because regulation didn't just follow Napster itself, individual users also were liable allowing them to be sued. People assumed p2p meant "above the law" and it doesn't.
I bring up Silk Road because it was an online marketplace where a lot of illegalities went on. "Anonymity" breeds black market and illicit activity. It was incredibly easy for the FBI to seize a ton of Bitcoins (decentralization didn't protect that).

>>	Anonymous Tue Apr 22 20:11:55 2014 No.296292 >>296287 > It was incredibly easy for the FBI to seize a ton of Bitcoins (decentralization didn't protect that). because they were CENTRALIZED on silk road. just watch the fucking video, you obviously didn't.

>>	Anonymous Tue Apr 22 20:13:31 2014 No.296297 >>296272 Also, Silk Road operated through Tor so I am not sure what your definition of "unstoppable" is.

>>	Anonymous Tue Apr 22 20:15:06 2014 No.296299 >>296292 I didn't watch the whole video, I'm sorry. Too much autism and I couldn't stomach it so I went through their website instead.

>>	Anonymous Tue Apr 22 20:17:22 2014 No.296303 >>296297 god fucking damn it. honestly, I'll tell you what. You're not getting this, I think its my fault. I'll post my phone number so I can just explain it. I'm bad at typing. willing?

>>	Anonymous Tue Apr 22 20:19:57 2014 No.296310 >>296299 the dudes speaking had been awake for ~30 hours, so yea, they sound a bit stupid. but seriously, its a protocol like email, not a website that hosts email.

>>	Anonymous Tue Apr 22 20:20:23 2014 No.296312 File: 9 KB, 225x225, shills.jpg [View same] [iqdb] [saucenao] [google] >>296303 Yes. I am the one that is "not getting it". You shilling DarkMarket ineffectively is my fault.

>>	Anonymous Tue Apr 22 20:25:26 2014 No.296329 >>296312 look, I don't know what you want from me, I said I think its my fault. Plus, how the hell can I shill an open-source protocol? Its like accusing me of shilling the alphbet.

>>	Anonymous Tue Apr 22 20:26:33 2014 No.296334 >>296329 Because you own Bitcoin or are a hard core libertarian? I don't know you tell me why you are shilling it. I have no dog in the fight.

>>	Anonymous Tue Apr 22 20:27:25 2014 No.296338 >>296334 because its genuinely a good idea.

Anonymous Tue Apr 22 20:34:23 2014 No.296352

>>296338
For the reasons I explained earlier it is a terrible idea.
>black markets promote crime, fraud and scams. this will never be widely used as there isn't much differentiation from Silk Road
>escrow accounts kill transaction speeds, and what is Bitcoin without fast transaction speeds?
>escrow services will never work without fees. you take too much liability in middle-manning transactions to be doing it for free with nothing to gain

>>	Anonymous Tue Apr 22 20:41:08 2014 No.296365 >>296352 each of those reasons is invalidated by a complex set of factors, sleeping now, sorry. http://attacksurface.wordpress.com/2014/04/11/dark-market-trade-is-not-a-crime/ start with this.

>>	Anonymous Tue Apr 22 20:53:53 2014 No.296396 >>296365 Naw. I don't think so. I don't like escrow accounts. ESPECIALLY ones that operate through a black market. What guarantee do I have that they have a secure system or that they will not just abscond with my funds? I'll pass.

Anonymous Tue Apr 22 21:02:56 2014 No.296421

>>296396
Man shut the fuck up your only argument seems to be

>durr it won't work because i can't understand it.

You think escrow is some sort of shady system ffs. Escrow is a standard trading mechanism and with the blockchain it's automated and near instant.

What do you think will happen? Will the sun explode if everyone uses bitcoins?

Anonymous Tue Apr 22 21:15:57 2014 No.296455

>>296421
I understand it fine. I don't think you have one clue wtf I am even saying lmao. These aren't hard concepts, you just want to make it seem like its complicated to mask the fact it doesn't work well in the real world.

Escrow isn't a shady system but new escrow services popping up out of a black market aren't exactly trustworthy. Shit, even MtGox who initially made up of 80% of Bitcoin trading almost killed off Bitcoin entirely due to bad press. Sorry to burst your bubble but escrow payments are not instant. They hold the "money" for you while the items are processed and shipped and the merchant isn't released the funds until the goods are verified by the buyer. With Paypal? The money is instantly transferred because they allow for chargebacks as part of a dispute resolution process. Seems like a pretty good system that doesn't need improvement to me.

>>	Anonymous Tue Apr 22 21:36:22 2014 No.296477 I'm thinking about throwing in $50 to buy just a part of a bitcoin, I'm still pretty fucking skeptical with it. Should I do it, and is now the time to buy?

>>	Anonymous Tue Apr 22 21:43:21 2014 No.296485 >>296477 It's 50 dollars, are you poor? Also even if your money grows 5x you'll have nothing kek.

>>	Anonymous Tue Apr 22 21:45:36 2014 No.296490 >>296485 Seriously. Buy a damn Bitcoin you cheap bastard. Worst case scenerio you lose $500. Oops.

>>	Anonymous Tue Apr 22 21:47:20 2014 No.296495 >>296485 >>296490 I'm in college and I've got around $7200 in my bank.

>>	Anonymous Tue Apr 22 21:58:53 2014 No.296514 >>296495 >I'm in colege Well there's your problem

>>	Anonymous Tue Apr 22 23:08:06 2014 No.296625 >>296495 More reason to buy bit coin? You got shit all else to buy and have more than I ever had in my bank at college.

>>	Anonymous Tue Apr 22 23:36:40 2014 No.296699 >>296625 >you got shit else to buy idk like maybe tuition

Anonymous Wed Apr 23 02:20:56 2014 No.296995

>hurr bitcoin bad...

1. Purchase alienware laptop using credit card with theft protection and wait for laptop to arrive.
2. Find a buyer for the laptop at a slight discount rate.
3. Once laptop arrives sell it, immediately and after park in mall and grab a coffee or tea.
4. Return to your car and make a scene because it's just been broken into. Call the Police.
5. Make sure you file a police report for your stolen sunglasses, mp3 player and laptop.
6. Notice your theft protection hasn't run out so file a claim with your credit card company, luckily you have the receipt and police report.

Rinse Repeat.

>hurr Money is bad.

>>	Anonymous Wed Apr 23 02:27:21 2014 No.297004 >>295985 You do realize your previous post was entirely in greentext right?

>>	Anonymous Wed Apr 23 02:27:58 2014 No.297005 >>296995 Gee whiz mister youre right! No one ever investigates fraud!

>>	Anonymous Wed Apr 23 02:34:59 2014 No.297009 >>297005 But libertarians are above the law. With bitcoin, they don't even need to pay taxes, and the government will never find out!

>>	Anonymous Wed Apr 23 02:35:45 2014 No.297012 >>297005 Charlie Shrem bitcoin Bernie Madoff USD Doesn't matter how you slice it, fraudsters will exist. To condemn a technology because of this is foolish though.

Anonymous Wed Apr 23 02:45:27 2014 No.297021

>>296995
1. Purchase alienware laptop using Bitcoin and wait for laptop to arrive.
2. Find a buyer for the laptop at a slight discount rate.
3. Once laptop arrives sell it, immediately and after park in mall and grab a coffee or tea.
4. Return to your house and make a scene because it's just been broken into. Call the Police.
5. Make sure you file a police report for your stolen sunglasses, mp3 player, tv, home entertainment system, watches, jewelry, electronics, furniture, dog, cat, pool table, clothes, ipad, and laptop.
6. Notice your home owners insurance covers theft so file a claim with your home owners insurance, luckily you have the receipt and police report.

If you're going to do time for doing something illegal why not do it big?

Anonymous Wed Apr 23 03:20:34 2014 No.297049

>>297012
>To condemn a technology because of this is foolish though
It is not a matter of condemning Bitcoin. It is a matter of practicality. I will give you 2 examples.

Scenario 1:
>Find a great deal for a tablet. The seller lives in another state.
>Seller wants you to pay with Western Union or wire transfer
>Hell no man. What are you Nigerian? I'll never hear from you again. I will only pay with Paypal or credit card.
>FINE.
>2-5 business days later
>Look in the mail and see that seller sent bubble-wrapped brick in a box.
>Immediately call credit card company and report fraud. Credit card reverses charges immediately. Also report it to local FBI office who traces the payment to the individual for criminal prosecution

Scenario 2:
>Find a great deal for a tablet. The seller lives in another country.
>Seller wants you to pay with Western Union or wire transfer
>Hell no man. What are you Nigerian? I'll never hear from you again. I will only pay with Bitcoin
>FINE.
>2-5 business days later
>Look in the mail and see that seller sent bubble-wrapped brick in a box.
>Immediately call ...
>....shit.

Anonymous Wed Apr 23 03:52:44 2014 No.297068

>>297049
Bitpremeire
Darkmarket

What are escrow services?

You really are only concerned with eBay like transfers of money but forget, machine to machine payments, micrtransactins for news articles for example, gambling.

You have a very narrow view and it's becoming evident. If what you pose is correct then how did silk road function only to be shutdown by external factors?

Anonymous Wed Apr 23 04:00:31 2014 No.297072

>>297068
Someone already shilled Darkmarket in this thread. I will tell you the same thing I told him.
>Escrow services charge fees
>Escrow kills speed of transactions, especially in cases where items take 2 weeks or more to arrive
>Any escrow service that emerges from a black market is bound to be even more unreliable than a MtGox. What is to stop them from absconding with the payment?

Other than that you are right it does get around regulations for gaming and gambling sites. For now. Although I wouldn't trust a gambling service that does not allow for chargebacks either.

Silk Road did function for a while. Then the FBI cracked down on them because of all the illegal activities going on. I wouldn't use them as an example of how the system worked.

>>	Anonymous Wed Apr 23 04:27:00 2014 No.297091 Read trilema.com, lurk in #bitcoin-assets and read the logs. Anyone that doesn't do this isn't actually a part of Bitcoin. /r/bitcoin is for retards who jerk their dicks to andreas and donate future riches to feed bums.

>>	Anonymous Wed Apr 23 04:32:18 2014 No.297095 Even $10k by 2020 seem way too optimistic. Don't forget there are also other crypto currencies and only thing bitcoin is the most valuable right now is due to having good infastructure for btc<>fiat

Anonymous Wed Apr 23 04:38:08 2014 No.297096

If you get Bitcoin, don't waste your time explaining to luddites why it will succeed and attemping to defend against their stupid lack of logic and reasoning as to the flaws they come up with. You're wasting your breath, if they were capable of understanding it like you, they would already have followed this through to the logical conclusion.

Just keep stacking your coins, holding on tight and protecting your holdings. We will be vindicated within 5-10 years and then you can spit on the plebians as you drive buy in whatever car you fancy while you're getting your dick sucked from the numerous whores you will have.

Anonymous Wed Apr 23 05:03:21 2014 No.297107

>>297096
This. Even though you are a retarded jackoff BTC shill that actually is dumb enough to think BTC has any real future credibility please stop trying to explain to "stupid luddites" how the value of Bitcoin is going to surge and make everyone who owns a few coins into millionaires. We are "too stupid" and "lack reasoning" so obviously we won't understand the super duper intense complexity of what Bitcoin is trying to accomplish. Come back to gloat in 5-10 years when you are a millionaire. Until then, please kindly fuck off.

Anonymous Wed Apr 23 05:32:21 2014 No.297120

Everyone here knows that technical analysis can't be used to predict and/or beat market prices right? Everybody knows that technical analysis is used to derive the actions of those with inside knowledge right? Everyone here knows NOBODY used technical analysis to predict the size of a market in 4 years.

Why are faggots so easily impressed with charts?

And the only charts that are somewhat useful for BTC in the short term are candlestick charts anyway. You could've predicted the big burst with those.

Stay uneducated faggots. HURR DURR COLLEGE IS A SCAM LOLOL.

Maybe if you went to college some of you wouldn't look so goddamn retarded all the time.

Anonymous Wed Apr 23 08:26:20 2014 No.297228
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>>296495
I bought in as a sophmore in college, now I have my degrees, no debt, and ~85 bitcoins left.

>>296455

>These aren't hard concepts, you just want to make it seem like its complicated to mask the fact it doesn't work well in the real world.

See, that's the thing. These are complicated new solutions to age old problems, and you refuse to consider that a solution could even exist.

>A flying machine? Preposterous, it can't be done.
>A way to communicate with anyone anywhere in seconds? Preposterous, it can't be done.
>An escrow service that is provably fair, and determined by free market forces? Preposterous, it can't be done.
Don't be a clown.

>>	Anonymous Wed Apr 23 08:31:05 2014 No.297232 >>297096 I've yet to see a coherent explanation as to why BTC has a long term competitive advantage over other cryptocurrencies. Assuming a static infrastructure environment isn't fair for a 5 year horizon, let alone 10.

Anonymous Wed Apr 23 08:35:33 2014 No.297235

>>290576

>Shares in the company were "sold" to politicians at the current market price; however, rather than paying for the shares, these recipients simply held on to what shares they had been offered, with the option of selling them back to the company when and as they chose, receiving as "profit" the increase in market price. This method, while winning over the heads of government, the King's mistress, et al., also had the advantage of binding their interests to the interests of the Company: in order to secure their own profits, they had to help drive up the stock. Meanwhile, by publicising the names of their elite stockholders, the Company managed to clothe itself in an aura of legitimacy, which attracted and kept other buyers.

Thats some impressive shilling. I wish I was that good.

>>	Anonymous Wed Apr 23 08:35:34 2014 No.297236 >>297232 http://themisescircle.org/blog/2014/03/14/the-coming-demise-of-the-altcoins/ Its not provable, but it is probable. See, with altchains, they can mimic altcoin behavior within the bitcoin protocol, and tie it to the blockchain.

Anonymous Wed Apr 23 08:47:30 2014 No.297243

>>297236
Wouldn't his argument that merchant acceptance is irrelevant suggest that the whole world would be on the USD by now? Currencies are allowed to exist in many forms because merchants and governments take payment in them. The network effect for holders is a possible outcome, but the dismissal of actual value transfer is convenient and misguided, IMO

Anonymous Wed Apr 23 17:17:49 2014 No.297476

>>297228
>refuse to consider that a solution could even exist
If it was a better solution I would acknowledge it. Bitcoin is a half-assed currency, a half-assed payment processor, and a half-assed speculative commodity. Of all the things it says it is supposed to be it sucks at all three.
>An escrow service that is provably fair, and determined by free market forces?
Wtf are you even talking about lmao? Do you even understand how escrow works?

>>	Anonymous Wed Apr 23 17:25:46 2014 No.297497 >>297243 >that the whole world would be on the USD by now If you could pay taxes in USD in other countries, we might have been. Bitcoin goes one step farther, no taxes. Had to wait for 4chan to calm its tits to post this, hope you're still here.

Anonymous Wed Apr 23 17:31:27 2014 No.297508

>>297476
> Bitcoin is a half-assed currency
in what way? Compare it to real currencies in your explanation, not some hypothetical concept of currency.

>a half-assed payment processor,
Do you have any specific reasons, or what?

>half-assed speculative commodity
I'll give you that one, but the half of the ass it does have, is pretty fucking phenomenal.

for starters
1. You can hold it personally, no need for an acount anywhere
2. You can sell it anywhere, anytime without market restrictions or commissions
3. Impossible to steal if you hold it
4. Highly active market with wide margins

Anonymous Wed Apr 23 17:45:28 2014 No.297544

>>297508
>Compare it to real currencies in your explanation
Ok lets compare to USD for example. USD doesn't lose 75% of its value in relation to other currencies in 4 months. The fact that Bitcoin has no central authority makes it volatile and the value will always be volatile regardless of how widely used it is. Half of total BTC has already been distributed, meaning that anyone that owns a large stake is already able (and has) to manipulate the value at will.

>Do you have any specific reasons, or what?
Yes, I have specific reasons for it being a half- assed payment processor and most are already addressed in this thread. What you guys are saying is that the only way Bitcoin works for consumer protection is with escrow services. That makes Bitcoin speed of transactions worthless, right? Especially in certain cases where merchants wouldn't see payment for a month. How is this better than Paypal or credit cards? Escrow services are slower and a lot of the time they charge higher fees than Paypal. How does this improve on our current system?

>>half-assed speculative commodity
>I'll give you that one

At least we agree there.

>>	Anonymous Wed Apr 23 17:50:34 2014 No.297560 >>291268 You're implying that was a joke. It really was the Magic: The Gathering Online Exchange.

Anonymous Wed Apr 23 17:58:41 2014 No.297586

>>297544
>Ok lets compare to USD for example. USD doesn't lose 75% of its value in relation to other currencies in 4 months.
Actually, that happened just this year. If you compare Bitcoin to USD, Bitcoin was ~$135 last year, and is currently around $500. It matters how you choose to look at things.

>The fact that Bitcoin has no central authority makes it volatile
That is impossible to prove, and has no basis in reality. Why do you make this claim, do you really know why Bitcoin is volitile?

>the value will always be volatile regardless of how widely used it is
Again, baseless. And what of it, even if it were true?

>Half of total BTC has already been distributed, meaning that anyone that owns a large stake is already able (and has) to manipulate the value at will.
No, they can only crash the price, they can't make it rise.

In that same way, do you realize what would happen if the richest person in the world converted everything they own into USD and then shorted the USD on forex with margin?

>Yes, I have specific reasons for it being a half- assed payment processor and most are already addressed in this thread.
Please link to the posts, I'm not going to read the whole thread again just to find them. If you don't want to find them again either, fine. But you don't win arguments by claiming they are already won. As for the 'most' part, list the others if you have them.

>What you guys are saying is that the only way Bitcoin works for consumer protection is with escrow services.
Credit/debit card companies are escrow services, the payment is fast. Additionally, in person you don't need escrow for Bitcoin.

>That makes Bitcoin speed of transactions worthless, right?
No, how do you figure? Do you expect multisig TX addresses to be slow or something? They will process just as fast as CC companies. Or faster even, because they don't have a central hub to pass through, and can use the most efficient nodes in the pathway.

Cont

Anonymous Wed Apr 23 18:03:59 2014 No.297597

>>297544
>Especially in certain cases where merchants wouldn't see payment for a month.
The fuck are you talking about?

>How is this better than Paypal or credit cards?
those are non-competitive markets you can't just start a CC company, or compete with paypal (because eBay own it, and fostered its development). Thus, their fees are exorbitant, because they can keep them that way.

>Escrow services are slower and a lot of the time they charge higher fees than Paypal.
Should escrow be faster than the client receiving their goods? If its digital goods, escrow will be very fast. If they're shipping a product, why would escrow go through before the goods arrive. The reason chargebacks exist is because the CC escrow service is flawed.

>How does this improve on our current system?
Its much more competitive, its provably fair, and the escrow provider can't abscond in any way with the funds. PayPal is notorious for freezing and draining accounts, charging abhorrent fees, and being a dick in general. CC are literally satan, ask anyone. How could it NOT improve the current system?

Anonymous Wed Apr 23 18:06:25 2014 No.297603

>>297586
>It matters how you choose to look at things

Oh wow.

The dollar still has a virtually identical purchasing power. Bitcoin did not. Reality may be subjective but this fails logic 101, Pythagoras and Aristotle are terribly disppointed in you anon.

Anonymous Wed Apr 23 18:11:42 2014 No.297610

>>297586
>Bitcoin to USD, Bitcoin was ~$135 last year
Why would I compare USD to a speculative commodity and not to every other world currency? That would be like saying "Look USD lost 90% of it's value compared to beanie babies!". That is some retarded logic lol

>do you really know why Bitcoin is volitile?
Everyone knows why Bitcoin value is volatile. It's not some ethereal concept. Most people buy for the sole purpose of selling for more later and seeing the gains in real fiat. When they sell in bulk the value crashes.

>And what of it, even if it were true?
It makes it a half-assed currency. What else do you want me to say?

>No, they can only crash the price, they can't make it rise.
What? You do know what buy walls are right?

>Please link to the posts
I don't need to. I relayed the gist of my argument in the post you linked to.

>Credit/debit card companies are escrow services, the payment is fast
The payment is only fast because credit cards aren't anonymous. They can track you down in the real world with collection agencies. They can also threaten you with ruining your credit.

>Additionally, in person you don't need escrow for Bitcoin
We are talking about online transactions here, which Bitcoin is supposed to be predominately used for. If Bitcoin only works well in person? It sucks. I can use cash for that.

>Or faster even, because they don't have a central hub to pass through, and can use the most efficient nodes in the pathway.
Again you limit yourself to the speed of the escrow service. Which means you have to wait for the item you shipped to be received on the other end

Anonymous Wed Apr 23 18:23:04 2014 No.297645

>>297597
>>Especially in certain cases where merchants wouldn't see payment for a month.
>The fuck are you talking about?
Come on man put a little effort in thinking about this for a bit. Escrow payments do not get released to the merchant until it is verified on the other end by the buyer. Depending on processing and shipping speeds, yes this can take a month in certain cases.

>Thus, their fees are exorbitant, because they can keep them that way.
There fees are really not that exorbitant for what they offer. If someone could do it cheaper and better, they would. Someone posted about Bitpremier which is supposed to be the main Bitcoin marketplace. Incidentally their escrow services charge 5% which is 2% higher than Paypal.

>The reason chargebacks exist is because the CC escrow service is flawed.
Hell no. Chargebacks are great for consumer protection and allow transactions to be instant.

>and the escrow provider can't abscond in any way with the funds
Really? Lmao. Just like MtGox right? Middle-men can neeeeever just take the BTC and run without any type of regulation to stop them!

Anonymous Wed Apr 23 21:47:09 2014 No.297804

>>297610
>Why would I compare USD to a speculative commodity
Great question, why did you?

>Everyone knows why Bitcoin value is volatile.
No, they think they do, but they really don't, and you don't either.

>You do know what buy walls are right?
Yes, of course I do. I've been intensely following Bitcoin for three years. You said people who have a lot of BTC could manipulate the price. They can't make a buy wall with just BTC, they would need fiat for that on any exchange. If they get it by selling BTC, they aren't manipulating the market, they're being dumb, and losing money.

>The payment is only fast because credit cards aren't anonymous. They can track you down in the real world with collection agencies. They can also threaten you with ruining your credit.
You refuse to watch the DarkWallet video, I get it. But fuck, it makes it really hard to even discuss this concept.

>I can use cash for that.
Cash can be stolen, BTC can be carried, without the risk of having it stolen.

>Which means you have to wait for the item you shipped to be received on the other end
Not really, it depends on the reputation of the seller. If they send you proof they shipped it, you release the escrow if you trust them, and they have an incentive to make you trust them.

Anonymous Wed Apr 23 21:54:12 2014 No.297816

>>297645
>Come on man put a little effort in thinking about this for a bit. Escrow payments do not get released to the merchant until it is verified on the other end by the buyer. Depending on processing and shipping speeds, yes this can take a month in certain cases.
You need to just watch the fucking video, fuck me.

>There fees are really not that exorbitant for what they offer.
Up for debate.

> If someone could do it cheaper and better, they would.
and they will, very soon

>Someone posted about Bitpremier which is supposed to be the main Bitcoin marketplace.
>main Bitcoin marketplace
are you fucking serious. You're so fucking misinformed I can't even believe it.

>Incidentally their escrow services charge 5% which is 2% higher than Paypal.
Yea, but they sell yachts, houses, country club memberships, etc. It's not like you expect to pay less than 5% escrow on that type of thing anyway.

>Hell no. Chargebacks are great for consumer protection and allow transactions to be instant.
But they are awful for merchants, ask any merchant. They would rather wait, and know its theirs, than get it instantly and have it taken back.

>Really? Lmao. Just like MtGox right?
No, not at all. Not technically, and not from a service standpoint.

>Middle-men can neeeeever just take the BTC and run without any type of regulation to stop them!
Again, watch the video. Three signature transaction addresses are not actual funds while held by the escrow, they exist in limbo where two of three signatures are required to complete the transaction. The escrow service can literally never take the BTC, It is impossible.

Anonymous Wed Apr 23 22:13:27 2014 No.297887

>>297804
>Great question, why did you?
I didn't. I compared a speculative commodity to USD. I could have just as easily compared it to any other fiat currency in the world and got the same results. Bitcoin lost 75% of its value in a matter of months. Arguing anything else is just semantics.
>No, they think they do, but they really don't, and you don't either.
Lol. Volatility in any market is from free market conditions which don't have in a stable currency backed by the government.This isn't a guess. This is a fact.
>You said people who have a lot of BTC could manipulate the price
You really need to educate yourself on supply and demand. Simple concept.
>Cash can be stolen, BTC can be carried, without the risk of having it stolen.
Again if BTC only works well in a local sense like cash, it sucks. BTC can be stolen as well if they have access to your wallet or if they have keyloggers on your system. Cold storage is only good if you never use it.
>you release the escrow if you trust them
Why would anyone release the escrow before receiving the product regardless of "trust"? They have no incentive to do so because they have everything to lose and nothing to gain.

Anonymous Wed Apr 23 22:21:41 2014 No.297920

>>297816
>You need to just watch the fucking video, fuck me.
I told you. The video is too damn autistic for my tastes.
>But they are awful for merchants, ask any merchant
Merchants don't decide what payment processors become widely used, customers do. Why do you think Paypal was so successful before Ebay bought them up? They favor consumers over merchants. Any payment processor that favors merchants over consumers is bound to fail. And hard.
>They would rather wait, and know its theirs, than get it instantly and have it taken back.
Bullshit.
>No, not at all. Not technically, and not from a service standpoint.
No regulations over Bitcoin escrow providers = they can do whatever the hell they want. And they will.
>Again, watch the video.
Fuck the video.

Anonymous Wed Apr 23 22:24:04 2014 No.297927

>>297887
>I compared a speculative commodity to USD
I compared A to B. Comparing B to A is ridiculous. Horrible logic. Fuck you. Comparison is inherently bidirectional.

>Again if BTC only works well in a local sense like cash, it sucks.
Never claimed that at all.

>You really need to educate yourself on supply and demand.
Way to respond to my point.

> BTC can be stolen as well if they have access to your wallet or if they have keyloggers on your system.
its not 'or' its and. Also, what an absurd scenario in real life.
I'm done getting trolled for now, because seriously, thats all you can be, and I'm giving you credit here, because you're either a troll, or staggeringly dumb.

8/10

Anonymous Wed Apr 23 22:38:52 2014 No.297972

>>297927
>Horrible logic
I was just pointing out how retarded it is comparing a speculative commodity to a real currency and saying that when the value of Bitcoin goes up that means that USD lost value. It didn't. Bitcoin isn't a benchmark, idiot. I was using real currencies as a benchmark, because what the fuck else would I use if you are trying to imply that BTC is useful in any way as a currency?
>Never claimed that at all.
Yeah but I did.
>Way to respond to my point.
If you don't understand the simple concept of supply and demand and how single entities having a large stake effects commodity volatility then I really can't help you.
>Also, what an absurd scenario in real life.
How is BTC theft an absurd scenario? There have been tons of examples of this happening.
>I'm done getting trolled for now
Ok. Run along then. Don't come back until you pry your head out of your ass.

>>	Anonymous Thu Apr 24 06:56:13 2014 No.298625 Only people who are able to ID themselves with good credit can enjoy traditional services like PayPal. The people who have been screwed or don't have documentation just need access to public wifi and now they can send wealth.

>>	Anonymous Thu Apr 24 11:07:12 2014 No.298888 >>298625 This, 4 billion people can't use traditional banking, but could easily use bitcoin.

>>	Anonymous Thu Apr 24 11:12:44 2014 No.298898 File: 227 KB, 800x534, meh.ro7954.jpg [View same] [iqdb] [saucenao] [google] >>298625 >implying paypal costs anything >implying paypal gives a fuck if you have money

>>	Anonymous Thu Apr 24 15:36:23 2014 No.299240 >>298898 To cash out of paypal you need a bank account. To get a bank account you need government issue ID...

Anonymous Thu Apr 24 17:54:26 2014 No.299557

>>291055
That's not even possible. Stop talking bullshit. Doge has never been that unprofitable to mine that your numbers add up, no matter what type of inefficient hardware you use. Doge has been profitable most of the time to the point that multipools abused it.

>>	Anonymous Thu Apr 24 18:58:20 2014 No.299709 >>299557 He didn't say the bill was just for the mining electricity

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