Redpill me on Bitcoin

Is it just a meme, or a legitimate way to build actual wealth? People seem to be making absurd amounts of money (pic related), but is money locked up in an unusable pseudo-currency actually useful? And if so, how?

I've recently seem major investment firms looking at Bitcoin trading (Morgan Stanley I believe?), how long until the government gets involved and ruins everything? Or could this facilitate greater adoption of crypto-currency?

Hit me with your redpills, I've got capital to spend on either more real estate investment or another avenue, so I'm interested to hear what Sup Forums thinks.

Other urls found in this thread:

businessinsider.com.au/this-39-year-old-sold-everything-he-had-for-bitcoin-house-car-and-childrens-toys-now-he-lives-on-a-campsite-waiting-for-the-ultimate-cryptoboom-2017-10
twitter.com/NSFWRedditVideo

Gov already tried. Sell your btc to China and profit.

I'm sitting on over 1200 BTC that I got during the early days when it was worthless from abusing faucets.

Feels pretty good.

dont hold your breath

bitcoin is not locked up. Trading it to USD or other fiat is as easy as paying a bill. Literally takes you 5 seconds.

Sign up at coinbase.com and/or kraken.com to get started today.

It's a pyramid scheme but you can get rich off it playing your cards right.

It will be illegal soon.

ok when you sell BTC you know who buys it? the same chinese exchange you are selling it on. this is almost invariable. they will then sell it to whoever is interested in buying in.

so they control the price it is sold at, and the price it is bought at, while controlling the vast majority of it. what do you think they want the price to be?

its fraudulent. get out while you can.

It's a bubble. 99.99% of the reason why people buy btc is so they can resell it for more, which causes the price to go up.

They're the nerdiest fucking trading cards in the world.

Its not meme
Infact its more valuable than the dow Jones

>implying Beanie Babies were used to fund cutting edge tech all around the world
wew lad.

Nobody uses chinese exchanges except chinese. The top exchange in the west right now is Bittrex. As far as cashing out, you have a lot of options. A lot of online shops straight up accept BTC (newegg, for example). You can buy prepaid credit cards. You can exchange for USDT and then exchange that for cash. You can sell to Coinbase. You can sell on ebay/craigslist/other shit. You can use BTC ATM machines if there's one around you. You can use local BTC trade services if there's one in your area.

Some methods are obviously more private than others.

did he say how much he infest into it?

Buy millions of dollars of cheap Chinese goods.

Find me a legit article about those bitcoins millionaire and how much they invested in it. Someone who wasn't already rich.

I dare you.

It is the future currency of the world. But your question is whether it is a good idea to invest in or not. That is up to you. It is a high-risk investment. Go do some actual work instead of trying to get rich quick.

not really, since the value of the derivatives aren't stable, so it's actually worth piss against gold and real estate.

Its far far too late to get in. Every retard is talking about it. That means its soon to burst.

My brother started with 100 bucks and he's up to 1000, which is better than I'm getting on my stocks so

These threads are currency manipulation. Pumping BTC. Sell now before you are left HODLing you bags, fags.

spare some change sir?

Nice.

Sold 30 for $400 each last year. Feels bad man. :(

See, this is what I'm saying. That's the reality about bitcoins. All those articles about millionaires are cash grab story inflated to poor chuckles fucks into ruining themselves. This whole bitcoin spamming reminds me of the BUY GOLD meme we had before. Same shit different words.

In 14 years the bitcoin block reward will be 0.78125 every 10 min, currently it's 12.5. Imagine the price bitcoin will be when a few billions are being invested in daily at that rate

This line is said word for word every time Bitcoin reaches a new high.

>larping this hard to try to shill you imaginary internet money

lol exactly, if you would have invested a few days ago, you would have already profited. Don't wait for the dip and just buy some bitcoin

u can either get in and get rich or watch everybody else get rich while saying "muh tulips"

bitcoin is deflationary since it has a top cap, it has to emit more coin by fractioning smaller and smaller

only 21 million bitcoin will ever be minned

and the last one will never be completed, it will asymptotically approach 1, but never reach it, to infinity


this means, as long as it exists, its nature will make its price always go up

Nobody is rich on bitcoin yet because nobody has cashed out yet because they will keep holding until it either becomes illegal or until it becomes impossible to withdraw it without exorbitant fees.

At this point every bitcoiner is a larper with digital monopoly money they can't really use to buy anything with.

nah. People will slowly switch to bitcoin. Businesses will allow you to buy things with bitcoin. Then.. either governments will make it illegal, in which case there will be riots, or it will eventually replace money.

nigga what?

That means that it's worth literally nothing.

i had 10 thousand dollars 7 years ago :(

>tfw didnt invest in bitcoin

Most people didnt either so its ok. Ill buy on the next dip

making bitcoin illegal doesn't stop bitcoin, holy fuck you sound like a retarded boomer

CHEKD

buy link

its worth the computational resources to keep minning smaller and smaller fractions

Not really. It's worth the reserves BTC traders have on hand. Kind of like any fiat currency.

It's no different than any other currency trading, except the rate of inflation is more closely controlled

The price of bitcoin is rising and will continue to rise until it suddenly dies.
Alt-coins are doomed so the whales are slowly moving back to bitcoin (because most cant even cash out for real money).

desperate /biz/fags will be flooding other boards in search of bag holders, do not fall for it.

It is pretty worthless if businesses don't allow you to buy anything with it.

>when it was worthless from abusing faucets

What did you mean by this?

Awful lot of hopeful speculation there.

Yes it does. What are you going to do when the government locks your wallet and deem the bitcoin cryptocurrency a threat to their standard currency stability? You think they're going to give you the green light when everyone else is still using normal money--fuck no, they're going to protect the average citizen and slap you the bitcoiner with so many sanctions and hoops to jump through that you'll never get even 5% of the money you think you have stored away in your digital wallet.

If crypto becomes a thing it will take 100+ years of careful steady change worldwide to phase out basic currency. You'll never see your money either way. Laughing at your life right now.

All fiat currency is imaginary you dingus

>if you bought a winning lottery ticket 7 years ago you're now worth $644 million

>if you could predict the future, you'd be rich

No shit, Sherlock. Everyone who's ever made an investment has thought like this at one point of time.

>If crypto becomes a thing it will take 100+ years of careful steady change worldwide to phase out basic currency.

Doubt it would take that long. It would be an avalanche. Take a few years.

LMAO LOCKS MY WALLET? Do you not understand bitcoin at all? You own your private key, only you. I can keep a private key locked away in my brain and there's no authority that would be get that

bitcoin is a paradox

yes, but its different,

the fiat currencies we have, are inflationary, they dont have a top cap, inflation is the control of new currency creation

bitcoin price will always rise, because you cant make more, only use smaller fractions

Its decentralized money retard. Its that fucking simple. Its money that Jews can't Jew. And there is more than just BTC-- BTC was just the prototype.

DON'T BUY, YOU'D be sorry in 2 weeks, and you'll be real sorry in 2 years.

>If you invested 10K 7 years ago
Nobody did that. Back then, some guy bought a pizza for 10.000 bitcoin.

I wonder what Kim dotcom if sitting on

e the people buying right now realize it's not going up fast and they fell for a meme because they should have bought 7 years ago and not 7 minutes ago will begin to sell, once they start dropping it and people dump their bitcoins the price will fall dramtically and people will releaze making up money that has literally NOTHING it represents other than what people THINK it should represent, is autistic.

I GOT €100K OF SAVINGS
SHOULD DO OR NAH???

SERIOUS QUESTION

If this bitcoin meme was true. Why arnt I seeing a load of Sup Forums autists splashing there money about at the strippers?

>Its decentralized money retard
>cant peer-peer transaction without accessing a central network.
hmmmm...

Crypto insanity. Few people have heard of bitcoin. Fewer know what it is. Even fewer have any. You think the entire world is going to blanket adopt a digital currency in a few years? Again, maybe with a century preparing people for it and phasing out standard currencies in that time but there will be no avalanche. There is no rocket to the moon. You've been had.

buy tools, a generator, water system, etc,

should absolutely be selling right now
there's no way this will last

or build a bunker

>that has literally NOTHING it represents other than what people THINK it should represent

That is all money is regardless of cryptocurrency or not.

I had 9 Bitcoin years back. Wasted them all on Satoshi Dice. Don't care. Life is hard, making a fortune is not.

Unless you're planning on using actual bitcoin in the future (idiot) you still have to exchange it. They will lock you down in the exchange.

I have seen people go from talking to each other to staring at their phones in a few years, so yes.

Yeah. Bitcoin will never be accepted by the US government. I expect it to be banned at some point. Evading taxes is too easy with bitcoins, and that'd kill the government.

Anyone who thinks they will just let Bitcoin become mainstream is mental. They want to control the money supply, and they can't do that with BTC. That's the thing, sweeties!

hey I made that image
also 4x'd my money from link, not selling though

That is what people said 5 years ago. There is no limit for how high bitcoin will get. The value does not reflect the amount of money that Bitcoin investors have. They have virtually nothing.

>I'm going to compare apples to skyscrapers that will show him

I'm convinced. Coiners are retards. Enjoy your nothing money.

I know, that's why we need to go to the gold standard.

lol if they make it impossible to exchange it legally then fuck it go underground. There's plenty of people selling gold, silver and fiat on darkwebs

so if i was sitting on 2000k BTC i could just convert it to USD and stored in a regular bank savings account? would it be taxed or even taken away?

I've heard the conversion rates are atrocious. Can anyone confirm?

Isn't everything basically a pyramid scheme?

Source? Seems like having major corporations and/or government entities investing in it would preclude making it illegal?

I seem to hear this a lot, but I've been hearing it for years. Is there a sort of theoretical cap? I mean, it's not backed by any sort of commodity, so why would it have a theoretical cap?

Thanks dickhead, I got that part of the concept, I'm simply inquiring as to its practicality as an investment avenue.

I don't think it will ever be mainstream but it could easily be the new shadow economy, what with the crackdown on physical cash. Also it could replace hawala since it's much more convenient and cheap.

80% of these mememiners are fuckng chinks.
If you make operations with bitcoin - you automatically support the subhuman yellow niggers. Stay the fuck away from it.
Don't be a money tool for them.

There used to be faucets online that gave you some bitcoin each time you gave a wallet address

capital gains tax my man
I guess you'd lose about 50%
In the netherlands it would be only 1.2% IIRC.

Gold is the same.

>taxed
Yes. But 2000k btc would have been a huge fortune, enough to Finance a luxurious neet lifestyle

>
I wish i had that 2000k, id take the $, pay the taxes and run.
>not a greedy person

Not in the insane numbers Kim mentions but you can double your money pretty easily if you buy at the right time

I bought like €100 for shits and giggles a few months back when it was at 2700$, Just sold them today for €200

Tip, start by downloading a phone app that gives you a small widget which just shows the dollar or euro value of 1 btc, put it on your homescreen and track it for a few months to get a good feel for its behaviour

yea, 5 million white money is better than 10 million black money

I was passed on the freeway yesterday by a fat fuck in a chartreuse Lamborghini with tribal decals while vaping in it with the top off. Coincidence, or neck beard bit coiner..?

Beyond belief.gif

All of the cryptocurrencies are hot potatoes. At some point the will burst and whoever is holding them will get burned. Every fiat currency is controlled for a reason, you want some semblance of price stability.

It is difficult to use bitcoin for its intended purpose as a means of exchange for goods or services since prices changes so rapidly.

lol good luck with that

>since prices changes so rapidly.

That is only temporary due to its expansion. Once it takes over it will become stable.

No it's not, Because your money would represent something.

>worth $

This is where they get you. You aren't "worth" $644 million. You have a bunch of asscoins which are ostensibly possibly maybe worth that much until they're declared unusable by the government. Then you're fucked.

Neet coin.

Sell everything you own and invest in Bitcoin.
businessinsider.com.au/this-39-year-old-sold-everything-he-had-for-bitcoin-house-car-and-childrens-toys-now-he-lives-on-a-campsite-waiting-for-the-ultimate-cryptoboom-2017-10
This Dutch familiy did it, so can you

good luck with stopping a idea

exactly!
god damn im depressed now i passed up a chance to buy 1500 in BTC back in early 2012

>normie sheep will say this until they die
sad

lol bitcoin was less than 500$ 12 months ago

That's the point. As long as they're asscoins you aren't a millionaire and you're not paying taxes on them. The people holding are gambling that exchange will never be necessary

I would give him 20 btc for his blonde daughter

Not if everyone accepts it as payment you dumb goober, better get some before Amazon accepts it

>everyone say they got rich with this monopoly money but they never prove it