YOU FUCKERS SAID IT WAS GOING TO CRASH WHAT THE FUCK

YOU FUCKERS SAID IT WAS GOING TO CRASH WHAT THE FUCK

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coindesk.com/62-million-gone-cryptocurrency-mining-market-nicehash-hacked/
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...

Soon. I promise. Sell now.

you're retarded. It's literally the only finite currency in the world. It can't be inflated. It can't be a bubble.

> coindesk.com/62-million-gone-cryptocurrency-mining-market-nicehash-hacked/

Go ahead and buy more.

Woo

>muh muh

fucking hell go back to /x/ please

Before the 14th, right?

The fuck are you talking about

>flag

Ah.

Seriously I can't explain it. It doesn't even make sense anymore.
It can goes to 1 billion per coin just like it can be 0.
I mean what the point of purchasing that. You can't buy anything with it, you can't buy a car with it, you can't pay a salary with it and it is enforced by no institution. Even if some people offers to pay in Bitcoin it would be just a conversion from USD to bitcoin and the guy will immediately convert the bitcoin you have him in USD. What drives the value of bitcoin? Just people holding it because it is raising?

>People stop mining because bitcoins are worthless
>Jews jack up the "worth" of bitcoins because of their "scarcity"

It's not a currency anymore. It's just something fags buy because they think it's an investment. Thing is, you gotta actually find someone who'll actually buy from you in the end in order to profit.

You have to think of it more as a stock than a currency.

>What drives the value of bitcoin?
Supply and demand.

you could sell it only if someone wants to buy it, other then that its a psyop for normies to talk about at dinners and bars

This. Good luck pulling any huge enough of money out of BTC. You'll find people willing to take a few $100s or $1000s but good fucking luck convincing someone to actually give you more.

Same goes for those people with millions/billions worth. No one will ever give them money for it because the coin is too unstable.

Things dont grow that fast naturally, someone is manipulating the price.

>YOU FUCKERS SAID IT WAS GOING TO CRASH WHAT THE FUCK
said everyone the day before every single fucking crash in history. You realize thats what happens before a crash is a spike?

NO COINERS BTFO HOW WILL THEY EVER RECOVER

Convert them to dollars. Places like Coinbase have to. Until there’s a run.

use actual cash =\

>What drives the value of bitcoin?

The idiots using real currency to buy an imaginary currency. While enough of those idiots still exist, it will continue to increase in value.

I literally bought yesterday, $5000 @ ATH and I’m up 10%

Insane

>he bases which currency he uses on what online video games he can buy

the partys' never going to end you sad nocoiner

On the 14th the ripples converge.

can anyone provide an actual reason WHY it's going up? other than people buying it because it keeps going up?

Sure, why not? If you hear a Skyking x 4 before now and then, it's too late.

Its lost half its value in the past.

You idiot don't believe what the mainstream media tells you and especially don't believe the people without citations tell you.

>20+% rise in a day
>Not a fucking crazy meme
Don't put your money in until it crashes. It'll be a good buy after that.

people chasing, and since this is uncharted water, no one is taking caution or evaluating risk.

This is how the housing market crashed, however the housing market had a broken floor from the defaulted loans.
Bitcoin has no floor, because nothing is backing its value.

This is something that’s gotta be fixed

cash is king you digital meme-jew, have fun getting backtaxed by the IRS

>tfw you bought two Bitcoins in July
Feels good man.

>real currency

So it's NOT stupid to agree that those slips of paper in your pocket have value?

Grow up..

> normiebase

maybe people don't like the fact that the privately owned federal reserve has the power to destroy the dollar whenever they want, and as they have been slowly over the last ~40 years???

Possible distrust of government fiat. This happened right before the 08 crash with gold (Bitcoin can most certainly be compared to gold). However, I wouldn't put my money on it. This is likely an echo chamber meme.

Ahahahahahaha

Stay poor, poor fags. I’m a woman. A dumb woman, and even I saw the opportunity in this.
Put in poor fag don’t work you’re a woman, try and keep a feminine job and be a wife.
Put I. 200$ CAND...
Over 2 K profit by being lazy and like a woman.
How men haven’t caught on and made Bank is beyond me.
Poor genetics, I’m thinking.
Women aren’t supposed to be better than men in finance.

>missing the point entirely

That's the tip of the iceberg. It's only a matter of time before it's not accepted anywhere and is completely worthless.

It's nothing like a stock. It's hard to really compare it to anything, but the closest thing is a Ponzi scheme.

in anticipation of december 10th bitcoin futures trading starts

if there isn't a tangible reason why it's value is increasing at such an incredible rate, then it's not a real increase in value and it's going to crash

You seriously bought from coinbase when btc is obviously due for a correction soon? IMHBT.

>dropped 5 G's on something you won't even be able to use

>dropped 5 G's on something you didn't even research

>dropped 5 G's on a commodity that rockets up and down in value when it was already this high

that doesn't really help when you have to convert it back to government fiat to actually use it for anything

I wouldn’t trust it. I’ve heard from uncomformed sources that the Chinese are fucking with the market.

Most Bitcoin is owned by the same institutions that support the fed.

Guess what? there isn't some kike sitting in a facility in Washington DC that has the power to print trillions of bitcoins... i dont know if you knew that or not.

Useful idiots and greater fools. Have you forgotten about how home prices were always going up until they stopped all at once in 2008? Seems a remedial lesson is on course.
> December 14th
There's that date again..
You can't escape it.

Praise be to kek

>20% change in one day.
>This is good investment.

Can't wait for the mass suicide when Bitkek is finally shut down.

Daily reminder to buy high sell low.

Too bad the power is going out soon...

ye keep buying bitcon

Then it acts as a good storage medium so you don't get taxed the hell and back, the gold of the future is digital

>yfw he’s already up 10%

you have to get fiat from that fat kike when you want to spend your bitcoins because you can't spend them in their current form

Where does this "can't spend bitcoin" meme come from? I trade it for cash all the time.

Largest Crypto-Mining Exchange Confirms It Was Hacked, $62 Million In Bitcoin Stolen.

I hope there's bitcoin insurance. Ya'll are going to need it.

that's not spending bitcoin

People are greedy and constantly investing in this commodity, when the original investors have made their gazillions and start cashing out its gonna fucken crumble. At this point I would steer well clear of bitcoin. I invested around the 1.6k mark and made a lovely 60%, I'm out now and not looking back. A chancer knows when hes done.

>bitcoin now has a higher market cap than AT&T, Verizon, Intel, Oracle, Coca Cola, and Toyota
I seriously hope none of you are buying into this meme bubble

It will crash as soon as Chinese stop sending money it of the country for security. It will be the same time the australian and Canadian housing market crash.

That's converting it from one form to another. I can't spend Krugerrands at the store either when buying beer.

SELL NOW
Its a game of chicken past the ATH, new people investing is decreasing with increasing price due to being priced out or anticipating a drop, and people in want to cash out some gains
Then buy the dip

its a finite resource and can be compared to diamonds as if they were a trade currency.

>I trade it for cash all the time.

I thought the whole point of bitcoin was collateral to fight fiat currency not join it.

>1 week buyin
holy shit you coiners are retarded

It requires massive amounts of electricity to coduct these bitcoin transactions. Whenthe power gets cut, you investors are fucked.

If I look to an equity, there is a share of a company creating wealth and expectations of future dividends.
If I look to commodities, let's take crude oil, if the price is too low then you see a decline in production and if the price is too high you have over investment and an excess supply of crude. At the end the price reflects all these constraints and should be around an equilibrium which make the market to reach equilibrium.
If you look at currencies, there are central banks offering bonds with a given interest rate. There are also companies using a giving currency to purchase goods and employ people. If a given currency zone is underperforming economically, then you might see a drop in value to make it more competitive. So here again there is a kind of equilibrium.

But what about bitcoin? There is a value as it has a limited supply and you don't get fucked by central banks pricing funny money. So there is a value for Bitcoin in hyperinflated countries such as Venezuela or some African countries. It is also useful to stay anonymous to buy drugs or for other illegal activities. I see also an interest for Bitcoin in countries like China where you can't get all your money out of the country.
But seriously, it is not the currency which is useful but more the transfer technology (decentralized, etc.). But when you look at the volatility of the currency it makes it unusable as you can have +/- 20% variation during the transfer time.
The only metric I would have is the quantity of bitcoin rewarded per kWh. At least to keep a functional network, miners have to be rewarded by getting a value in bitcoin (converted in usd) superior to the cost in electricity to mine the blockchains but I haven't done this calculation so I don't have a minimal price number in mind.
Currently I have the impression that what drive the value of Bitcoin is people holding it because "it is rising" which is exactly the definition of a bubble.

It is called a bubble don't risk it sell now.

I remember thinking the exact same thing when it topped $1000. You'll regret not buying RIGHT NOW when it hits $100,000 in the spring! :)

You should all invest into ROPE its going to bottom out.

One well placed EMP bomb.

1 BTC can now be traded for a used Honda Civic.

> mfw they're paying phD mathematicians to do hashes by hand on street corners
> QUICK BEFORE THE PRICE DROPS MORE

Bullshit. Values are independent of each other in the short term. If I put $1000 into gold and the next day the value of the dollar decreases by 50%, I'd have $2,000 worth of gold, so my value would be saved.

By your lack of logic, I shouldn't put money into anything before a crash, because value of the dollar decreases. Literally makes no sense.

Sup Forums used to love the cryptos, now its just a bunch of winging quims.
>its going to crash
>you cant use it
>i dont understand this

fuck you guys, I bought $550 in 2014, I have traded it up to over 20k. I can get cash if I needed it, I pay my fucking taxes because I am adult and I am going to be able to have a better retirement from my gainz.
Its not too late, put $50 on it. if your afraid its going to crash then set a sell limit so you dont get wiped out. There is literally no excuse at this point to not put something on this.

>the only thing which hurts BTC is nuclear war

kek

>mfw I didn't buy the dip

Even /biz/ is starting to sweat.

This thing is gonna be catastrophic soon. If I had to guess I'd say some exit scams are being planned/executed.

More than me. But I know that feel

You can transfer bitcoin over Ham radio now.

what you really mean is 1btc can be exchanged for the amount of cash required to buy a used civic, provided you can exchange them

All of that money is gone.. HAHAHA

Well the price is defined because people purchase it at this price. So I guess you can really buy/sell at this price.

However just thinking about it but what is the average daily volume of Bitcoin exchanged for cash in marketplaces?

It will crash once enough goyim have bought into it. Thats right. Make the jews rich. Then when you go to sell yours theyll crash it and run off with all your money.

more demand than supply, and it's only going to get worse. supply is endless as well, as disagreement with your money masters (government) is limitless. this is the escape, and it's going to $1M.

China uses a hydro electric damn.

*demand is endless, rather.

Well and even if it keeps going up you still made 60 fucking percent on an investment. You can start driving yourself mad if you just focus on gains/losses that never actually happened.

This thing can drop just as fast as it rises, even faster. It went from 9k EUR to 4k eur in a matter of seconds a week ago and it crashed all the exchanges, you couldnt trade anymore and you couldnt even withdraw as the services were down while the price was plumetting and people panicked. Its basically gambling. The whales who hold the majority of BTC are the ones who control the market. They decide what the price is and when it will drop and it drops when they cash out. Focus rather on a real job and real investment opportunities, start your own business. Dont rely on shitty crypto gambling

Or a simple power grid failure or hacker

speculative bubble
no intrinsic value
bigger idiot theory
its gambling essentially, not an investment
everyone hoping to cash out before it pops, but most won't be able to

supply is not endless with bitcoin.

but there is no reason for the increased demand other than people wanting to make money from it
thats called greater idiot

>tfw remember the ron paul posters shilling for BTC when it was launched at penny value back in the day and fell for the concern trolling shills


Biggest regret of my life famalam.

Supply and demand. There are a finite number of bitcoins available to be mined and that are currently out on the market. The demand for Bitcoin only rose because of the drugs markets. Once the drug markets got popular, its value started rising more and more due to demand of Bitcoin to buy drugs. When this happened, normies probably starting thinking that they could buy and hold to invest as more druggies caught wind of the drug markets. When they started bragging to their normie friends, more and more people wanted in. This drives the price up because there only exists so many bitcoins and there is a certain number that can be mined. It'll be interesting to see what happens once all the bitcoins are mined.

no they are not, pink wojak is the most common meme on that board, try harder

>being priced out..

Bitcoin is infinitely fractionable. You can't be priced out of it. If you want to buy $500 worth of BTC you can.

Could bit coin hit 50000

unfortunately cryptofags have become insufferable shills. don't get me wrong, i'm happy for people making money from btc, but i don't want this place to turn into /biz/.

im sure you do user, im sure you do