1) Bitcoin is irritatingly complicated too use, with too many password/encryption tasks...

1) Bitcoin is irritatingly complicated too use, with too many password/encryption tasks. The last thing I need is yet another account & password to deal with.

2) Bitcoin is almost entirely dependent on the internet and electrical grid. If they go down....bye-bye bitcoin.

3) Proof of work thing. Sure Bitcoins can't be "printed" on a whim like fiat, but they have no value base. Money is supposed to be a placeholder, representing a good or service of value so you don't need to barter. Bitcoin never held the place of anything of value, except excessive electrical energy waste......

4) Bitcoin isn't a bad enough name. It should be something more annoying and generic like e-coin or iCoin.
I don't appreciate having "too bad you didn't start mining years ago" or "you should have bought it when it was cheap" being put in my face all the time. I missed this bandwagon, but I won't use your iCoin so I don't care.

To help alleviate my irritation I will no longer accept bitcoin as payment. As more people refuse the bitcoin and demand plummets so will its value.

Other urls found in this thread:

youtube.com/watch?v=KjmjqlOPd6A
twitter.com/AnonBabble

One time set up takes ten minutes max

One password to enter one to transact.

Whats complicated about it?.

2, if we lose those commodities, your dinner will be ruined, but you can use the microwave when electricity is turned back on. Geddit?
3, the value is in the sha-xxx encryption, you could put all the money in the world to try break it... and you'll lose your money.
4, you'll be back. Think of Africans with a £20 smart phone and free internet .(already rolling out) why exchange 30 corrupted currencies instead of one?

1HtmZF5cmaxYVDMc4zPGzAXFx1VR23BcjG
Also I collect old, used bitcoin for c-charity.

when there is so much shilling about something it must be a good thing
> hurr durr if the world is destroyed so is bitcoin
brb buying more bitcoin

you have nothing in that account
lying will destroy the only thing that matters in this universe, your soul

good for you, give all your money away, you didn't need it

Ha!

I'm poorfag , with a busted leg. I know it's empty friend.
Feel free to alleviate your guilt.

>Whats complicated about it?
Sign up for a few different cloud drive accounts.
Create a strong and unique passphrase offline (manually). This passphrase should be TRUELY random.
Never use this passphrase elsewhere, especially not on the web.
Do not forget this passphrase. Recite it several times a day. It is easy to overestimate your ability to remember a passphrase several months in the future. To be on the safe side, write it down and store the piece of paper in a safe deposit box.
Download Bitcoin-Core Linux binary and save it on a USB drive.
Verify the software's release signatures from an alternative device and internet connection.
Shut down your computer, and boot Ubuntu (or Linux distribution of you choice) from a liveCD.
Disconnect machine from the internet. Unplug any network cables and disable wireless.
Run bitcoin while disconnected to the internet. The client will generate a wallet.dat file and a bitcoin address.
Encrypt your wallet using the strong and unique password from step 2 above.
Copy wallet.dat (found in hidden folder .bitcoin in your home directory) to USB drive.
Save bitcoin address to a text file and copy it to USB drive.
Shut down system and turn off computer. Before switching your computer on again, remove all power sources for about 1 minute. Physically remove battery from laptop.
Backup encrypted wallet.dat file in several places:
Send it to your 5 best friends by email attachment and ask them to save it for you.
Save it on your cloud drive accounts created in step 1.
Save it on several USB drives and CDs and store them in different geographic locations.
Send bitcoins to the address saved on the USB drive.
Boot from Ubuntu liveCD, as in step 5 above.
Insert USB drive.
Run bitcoin client and close it again.
Replace wallet.dat in ~/.bitcoin directory with wallet.dat from USB drive.
Connect to the internet.
Restart bitcoin client.
Wait for blocks to download (optional).
Send bitcoins.

>buying more bitcoin
I'd wait a little while, my walloon french fry friend.

arent bit coins like thousands of dollars a pop? am i too late to get in on the bandwaggon?

Or write your matrix on a piece o paper and put it in your mums house.
Took me lesss than 10 minutes all in

>arent bit coins like thousands of dollars a pop?
Yes.
>am i too late to get in on the bandwaggon?
Yes.

>you should have bought it when it was cheap
has been put in your face.
Feels good man.

din't $300 million in Aether (Eather?) just get "deleted" by a technician that made a "mistake"?

Can y'all tell me why they can't just re-create the e currency when these things happen?

will you buy it when it crashes to $2000
it will be the best time to buy but you'll think it's dead and the hype is over
then you'll wait for $15000 and you'll ask the same question

Yes, and shit like this is why only one crypto will win, the original with the open source code.
All others are copying and modifying , not trusted.

$30mil, I believe.

Cryptocoins are a silicon valley wank fest right now. People are throwing so much money into Ether and ICOs and half of it is fucking fraud.

This is the Tulip bulb rush of our era. Some people are going to get fantastically rich but the bottom will drop out eventually and leave most people underwater.

What kind of returns do anons think i could get back if i invested 2k in bitcoin say this coming May?

Electronic currencies keep being stolen off exchanges, $300 million here, soon $1 billion there.
Bitcoin is ABSOLUTELY a commodity and the block chain allows you to barter.
Bitcoin is not money because there is no asset (precious metals, debt, foreign money, etc...) being withheld from the economy that bitcoin is being issued against.
The US printed un-backed currency during and after the revolutionary war, as soon as the people figured out there was nothing backing it the currency became worthless and created hyper inflation.
Bitcoin is fun, valuable to some (just like pokemon cards and beanie babies) and lots of people will make lots of real money trading and collecting it. But it's days are numbered. Banks are developing real crypto-money and as soon as they release it, bitcoin will be a thing of the past.

>write it down
It's next to impossible to do that. I went through a password rite once, and it was the last time.
If I tried to write it 10 men wouldn't be able to carry all that paper.

Very good points. Too complicated. Just keep your money (ie. debt) safe in our banks goyim....your cattle feed will be safe with us, forever.

Bitcoin is another way to spend petrodollars, just like amex or visa, except it promises pyramid scheme interest as it grows in popularity.

Do you think things in the future will have a bitcoin price and a US dollar price?

youtube.com/watch?v=KjmjqlOPd6A

The block chain and exchanges might survive though.

Wait for the fork around Christmas , whatever gets sliced from bitcoin gets quickly doubled every time.

Okay, have fun getting fucked in the ass by government

It does have that pyramid scheme feel to it.
No ones interested in using the currency, they just want to get rich quick and easy, and only a few from the start will do that, the rest will enable them.

We'll then it comes down to who you trust . An open sourced network with no backdoors or a Jewish (((institution)))
You tell me.

>If they go down...
If the internet and electricity infrastructure of a country "go down" the last thing you'll worry about is your bitcoins.

huge risk, huge reward. It's a little thing in math called expectation, or expected value.

If you want to gamble on this crap, fine. Just realize that it's a gamble, like throwing dice at a casino. It isn't an investment. The companies enabling the market are all fresh startups and fraud/theft is rampant. It's all fueled by hype, too.

There are always hype style investments and if you time things right you can clean house. Just don't bank on it working out.

Bitcoin is shit. Buy yobit on espers good sirs

Gold, assets, things with demand value you can physically control, and hide.

Im a no coiner but I take it as an interesting game of sorts. Its just like some user said the other day: you are collecting trinkets, like magic the gathering cards, or in a more accurate way, virtual items (like you were selling/buying MMO weapons).
I have no hate whatsoever towards this but I honestly dont see it being adopted by the majority.

Old world is allowed to change, it's the kids you have to convince, show them the graphs and they will choose bitcoin.

yep, the kids who know nothing about tulip bulbs, enron stock, worldcom, yahoo stock in 1999, or the commodities rush just before the great recession in 2008. I bet the bitcoin kids weren't watching oil and natural gas futures right before the fall.

Whilst news outlets glorify these handful of lucky opportunist investors as some pinnacle of human achievement. Some gook cunt puts 470 000 into Snapchat now worth 2 billion. This news has no relevance except to break the spirit of honest society.

LOL
Everyone defending bitcoin is doing so vehemently because they've already invested in it and the O.P. (me) is pointing out the very factors that plague their doubt laden minds and this agitates them and makes them redouble their escalation of commitment to an ultimately lost cause, in a futile effort to validate their foolish and bad decision making.

For the record, btc is device specific until you enter the matrix keys, you could have a simple password for day to day stuff.

not really we heard it all 5 years ago

>ten minutes

>wallet still updating to this day

>ten minutes.

Hey, its just like all new technology before its been normalized and dumbed down.

>yahoo stock in 1999
among many, many other hyped internet companies during that dot-com bubble

>If the electrical grid goes down, bitcoin goes down.
Yeah and so does everything else, you dipshit. Your money in the bank will vanish just as fast, the only thing that might be worth something is the stuff you have at home and thats assuming the power comes back after a while.
The first few days cash will be worth something but that'll vanish too if the power stays gone.
-
Sorry to burst your bubble Bob, but the power grid is a jenga block that'll pop the whole tower, not just bitcoin.

see

Akshully no. As long as hospitals and critical infrastructure can function on generators it will still be possible to carry on semi-normal life. Military will preserve order and banks will move back to paper record keeping temporarily. Bitcoiners will be fucking busted broke while everyone else eats

I've struck a nerve with this one.

>Generators.
Again, thats assuming power comes back. What do you think powers the generators?
>Military will preserve order.
No they won't and if they will its only because the area is small enough to hold down for a while, if you'd take the entirety of America down you'd be facing a collapse of society within 72 hours.

I have no coins whatsoever, I defend it because a trusted digital currency walks hand in hand with the digital world.
Use a blockchain wallet. Ten minutes and it's done.

Not really, I'm literally just telling you what'll happen when the power goes out. Which it will, eventually..
Look it up, fun stuff.

Has it not occurred to you millenial fucktards that Bitcoin is CIA op? There is nothing, and I mean nothing the government wants more than to shift to a cashless society. In a cashless society it's impossible to hide, everything you own can be taken away with the press of a button. The only people who are immune are those with so much power and money they can afford to fight government in court. Try fighting the IRS now - think how much harder it would be when they can seize everything with one Judge's sig. Bitcoin is not anonymous, it's shit, a way to prepare the population for the digitization of their assets maintained on a server farm in Utah.

If the whole world loses electricity at the same time, we may have trouble. Otherwise btc will survive 7-8ths of this world being destroyed.

Bitcoin is being used by drug dealers, terrorists, money launderers, and other left wing criminals in order to hide and transfer funds. They have suckered in dumbass millennials along for the ride. When it was small, it just wasn't a priority, not the case anymore. Governments take people that mess with their money very seriously. Governments take tax evasion seriously. When they seize the exchange servers THEY WILL be able to track users, THEY WILL be able to break it.

>proving my point via the stupidity of your post

it was a specific example of the trend, just one that I was familiar with as I was in that stock at the time. Made bank but I missed the peak by 50%, I think I sold out around 130. Who cares, made money.

Similar shit during the great recession. There were ultra-short bank ETFs that were moving 50% percent per day (SKF). Timing that shit is like playing russian roulette.

2007-8 was a huge commodities rush, the market pushed oil and gas in a nearly linear manner until everything toppled. Made money.

Point being - hype style "investments" are casino bets. If you have a good read on this shit you can do well, but most people are gonna get fucked over. It is nothing to bet your future on.

If people think they can play this game and win easily, they are as dumb as people playing slots in vegas.

Generators are powered by diesel, retard. The internet will be off, and the electricity will be off at your house but essential infrastructure will be working that why we have a "strategic reserve" of fossil fuels toothpaste

I've got news user, drug dealers used a note in your pocket to buy drugs. Statistically.

Correction:
Bitcoin is being used to TRACK drug dealers, terrorists, money launderers, and other left wing criminals who are too stupid to realize the blockchain is public and transparent. That's hwo they took down Silk Road. They take down terrorists/pedos/druggies daily with bitcoin intel they just don't publicize it. Those federal cases are "sealed".

>Bitcoin is being used to TRACK drug dealers, terrorists, money launderers, and other left wing criminals who are too stupid to realize the blockchain is public and transparent.

yeah the military intelligence drug sales operations dindunuffin I'm sure

although their funding created the internet and likely bitcoin as well

This. Physical control and protection is a necessary condition for something to be called a currency without it fucking up your economy.

Gold and silver are the only thing worth being made into currency in regular times. It has been the case then, and truth is atemporal. Hence any contemporary (digital) novelty claiming to replace a tradition should be laughed at and ignored, just as any other thing (feminism comes to mind).

In times of emergency, salt, grain and other imperishable stuff that has inherent value should be used instead.

Have fun with your bitcoins, though.

Shit thread
*farts*

That was my point

Where does diesel come from, you utter idiot.. Does it, I dunno, get pumped from one place to the other? Do those pumps run on power to, yknow, actually work? Or do they run on diesel too, which in turn begs the question, how does the diesel get to the generator, given all your average pumps will not be working.
Atleast give it some effort mate, its like you don't know shit about a blackout.
-
I'll give you that much, the entire powergrid would have to come down, something that can still happen if a flare hits us or someone targets main hubs with an EMP, although the effect of an EMP would be much larger than just a blackout..

Thats not how they brought down silk road you idiot fuck. and you can tumble coins.

bitcoin blew up because of DRUGS and it will always hold its value as long as its trading for drugs, drugs are not going anywhere, bitcoin will only go up. and this whole shit of the grid going down, the world will have to end..

>laughs at a 8 year stratospheric rise in value

Stopped reading after "printed on a whim"

Also: how do you plan on moving those fossil fuels without power burgerbro? Trains won't be running, pumps won't be active, cars won't be driving after a while same as trucks.
Are you planning on using buckets and prayers?

That's why the biggest Chinese mining company built their own hydro-electric dam right next door.

He didn't buy at:
10 cents
1 usd
10 usd
100 usd
1000 usd
7000 usd

He won't buy at:

10k usd
20k usd
50k usd
100k usd (now he start to get curious, by the time he sets up his account like the rest of plebs verifications will take 3 months, then finally buy his first BTC at 100k USD, but wait..now it's 200k USD)

>implying every single trader-tier shit has inherent value
>implying a (((currency))) only worth investing into automatically suggests it's valid as a currency
>hot air rises so it has value amirite?
Speculative finance 101 newfriend. There is nothing but parasitism in it.

Postulating it has value because dumb people/predators give it credit is the definition of being stupid.

FOMO fallacy. try harder

Oh you'll see some lovely fight over that piece of property if society were to collapse. Other than that, I guess you got me beat, hydro power is pretty damn OP, other than decay and all that jazz.
A nice EMP or a shaped charge would do the trick though, so don't count your money when your sitting at the table..

An ounce of silver will always be worth an ounce of silver.

>Or do they run on diesel too, which in turn begs the question, how does the diesel get to the generator, given all your average pumps will not be working.
Holy shit you are stupid even for a toothpaste. The "grid" goes down, how exactly, EMP? If so the important ones can be repaired within a few days and power plants will be working in hours. Nationwide it would take months, if not a year to replace the grid but fuel will be available to military and through military reserves immediately.

>claiming he implied things he never implied

If you took out all nodes , processing would transfer to clients, till back up.

I think we have to appreciate that nakamoto was up there with Einstein , top of his field. And has proved, so far to have created the most valuable commodity since sliced bread.

>Thats not how they brought down silk road you idiot fuck. and you can tumble coins.
Yes it is and no you can't. "Tumbling" is a term they invented to con stupid druggies like you. They can see and extrapolate back from every transaction, it doesn't matter how many times you "tumble", moron, it's just a matter of computing time and power.

It's a rough day lads but we'll get through it

>Buy this unaccepted currency goyim. I will sell you for $2,000
fuck off schlomo
>Buy this monopoly money I printed. I will now sell it to you for $8,000 look how the value rises

I'm merely recentering the debate on whether bitcoin is valid as a currency.

But then again, shills gonna shill. Not like they ever were productive in any point in their damned existence, whether it is in conversation or in wealth.

>It would take a year.
Are you shitting me? Thats even retarded by burger standards, your powergrid is edging on collapse as is and has been for nearly 15 years now, why do you think your government is scared shitless for cyberattacks? Hell, why do you think you still have roaring blackouts compared to Europe?
If the grid goes down because of an EMP or flare, which is the same thing I suppose, you're fucked beyond repair. If the grid goes down because of a cyberattack and they rig the generators to 'not turn back on' (not as impossible as it sounds) you're fucked beyond repair.
>The grid fuel will be available to military.
You do understand that, depending on the cause, your military wouldnt be able to react or communicate the first god knows how many hours, right? And again, unless you literally have buckets of oil waiting to be manually tapped, you can't move that oil.. Its just sitting there jerking off.

I hope it crashes so I can go from no-coin to much-coin.

You can try goldmoney.com

HAHAHAHAHA FUNNY THREAD NIGGER JEW SHILL

Nobody says its here to stay forever, but in the next several years this will increase drastically in value. Until world finance will settle, bitcoin will continue to boom.

No coiners already dying inside for missing on so many gainz in the past 1 year alone, just imagine in 1-2 years lol.

>buy this stock goyim, I will sell it for you at the rate the market has decided is fair

Setting up an exchange account to buy bitcoins with cash is annoying. After that, it's easy peasy.

>your military wouldnt be able to react or communicate the first god knows how many hours
Do you think the military communicates via intertubes? how old are you toothpaste? Yes, the civilian grid is old and fragile but the military infrastructure contains multiple redundancies, it designed to fight a fucking nuclear war, retard. It will survive a blackout. Demand spikes will blackout grids, sure, it's also an easy to bring them back up. You have no idea what you're talking about. You would have to physically destroy thousands upon thousands of transfer sites to destroy the grid. It is easy to take it down and easy to restore it

>3) Proof of work thing. Sure Bitcoins can't be "printed" on a whim like fiat, but they have no value base. Money is supposed to be a placeholder, representing a good or service of value so you don't need to barter. Bitcoin never held the place of anything of value, except excessive electrical energy waste......


...
Bitcoin actually represents value in the work it took to mine them and hold on to them for that long, what you call "money" doesn't represent "good or services" it represents old world Abrahamic concepts of debt... you're literally defending the slavery aspect of money where it's all IOU's to banks. Congratulation! You're winner!

Having invested in Bitcoin up until now can't really be called bad decision making. Of course they try to hype it up, the more normies buy into it, the more they can sell off theirs for before the crash.

Inventing currencies is easy.

Watch:
1.) Called ClueCoin.
2.) Market is called Clueconomy
3.) Tagline is "Get yourself a clue."

Done.

>everyone disagreeing is salty because no money
The world doesn't revolve around money schlomo.

I make 20k in the past year and I'm dying because I didn't go in harder

Missed opportunity Mohammad, don't worry you will sing the same tune when its 20k. You will miss that opportunity also btw.

MOST WILL WAKE UP AROUND 100-500k, until then they will preach the same bs they been doing for a few years.

That's what worries me,a future where they convince retards that cash is just some useless shit,they'll soon start making people who pay cash over certain amount identity themselves and shit like that,then cash will disappear and suddenly you can't hide anything from ZOG,it's their wet dream,every single transaction,all the fruits of your money,all your effort can be moved at their will,so convinient they don't even have to create worthless papers just write down and dance numbers.
Also as soon as any big bank creates and "backs up"a crypto all the money will flow there since its backed up.

That's essentially what happened at the bitpay fork, now it's backed by the most liquid banks on earth. Chinese.

>find higher-class businesses in progressive areas of town(think upscale with lots of college-age kids or young adults)
>get these businesses' emails
>make yourself look a LOT smarter than you actually are, especially when it comes to crypto
>tell them you can put their business on the map, if not through sales then through media attention by allowing them to accept bitcoin as a payment
>charge them $250-$500 to set up bitpay
>profit

if you are still a nocoiner and have any semblance of people skills, this is your move. Its very jewy but It worked for me and now I'm sitting on 1.5 btc

big banks have already chosen a crypto

People on /BIZ/ are finding out they can't pull out of bitcoin right now lol, saw this coming when it lost steam after 7k, GoodLuck trying to buy BCH as it is going to replace the outdated software of BTC.

Bitcoin + UBI = NWO

Not as scary as it was made out to be.

Thats a good explanation if you're a dumbass. It's email for money. You control your account and the banks get fucked. Why is that a "fad"?
normies can understand that shit.