Without doing any further research, what's your current thought about bitcoin

without doing any further research, what's your current thought about bitcoin

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Seems like a massive scam that will undoubtedly crash after someone starts making fake bitcoin wallets

retard alert

I hope it will work out, EVERYBODY hates banks

There is great power in it. I hope it succeeds

/biz/

it'll bottom out to nothing in a few years. all this shit does. it's unsustainable at this price. if people think it's going to get higher, then they're fucking retarded.

Bought $5k worth when it was at $37

Feels good man

Asshole

Been investing in it for a while. Keeping my eye closely on the other crypto currencies such as zcash and monero and basing my growth estimates off of how they're doing as well as the dark net markets.

stupid shit that will make a lot of idiots broke sooner or later...

real question is, when you sold it

you cant eat them :(
stupid digital currency.

...

short term say 5 years, great investment, long run, its probably a long con; just an honest perspective

i bought a 30k car with what i earned from bitcoin

I tried to take my chickens to the grocery to barter for some beef but they called the police

Quite lucrative if you got in on it 8 years ago. I bought 100BTC in 2009 which I am now gradually cashing in to live off while I continue with my otherwise mediocre life.

That's what they said 5 years ago

I am annoyed that the prostitutes I know can't figure out how to buy their own fucking backpage adds and I constantly have to do it

It will inevitably become a bank.

Let me start with a bit of background. To get a transaction on the bitcoin ledger, someone (a "bitcoin miner") has to do a ton of math to find a special number. Miners spend compute power and electricity to do this and are rewarded with a portion of bitcoin. This reward started high and is steadily declining (the system was designed this way). So current users need to pay a transaction fee to incentives miners to include their transaction. This fee is tiny right now, but will grow as the miners' reward decreases. So in the future, a company with a lot of compute power and low electricity cost can monopolize the mining aspect of bitcoin transactions since they offer the lowest transaction rates to users.

Right now, I can't picture a malevolent means for them to take advantage of users. Because if they jack up prices, other miners can swoop in and do the work. But in the end, I imagine a handful of large entities with large data centers crunching numbers to provide the backbone for bitcoin transactions.

tl;dr: large companies with access to compute power and cheap electricity will monopolize bitcoin mining.

Memecoin is a worthless pyramid scheme. You can't even buy food with it. Why it's mainly used by illegal degenerates purchasing worthless goods.

If it's going to make it as a currency where people use it to buy houses/companies/cars the price will have to increase for it to have adequate purchasing power.

If it's not going to make it as a currency, it could probably become a way of storing wealth where the price can be low.

It's definitely an interesting technological advancement which is interesting to follow for the next decade.

It will crash and be worthless. There is nothing to back it up.

actually Memecoin is something else

bittrex.com/Market/Index?MarketName=BTC-MEME

mind the fork. bitcoin cash is the way tn go.

>In Cryptography We Trust
idiot

Bitcoin will reach $500,000 per coin in 10 years
>I wish I bought bitcoin 4 years ago
>I wish I bought bitcoin 3 years ago
>I wish I bought bitcoin 2 years ago
>I wish I bought bitcoin last year
Time to stop wishing

For the records_1BTC=100k in 5 Years from now.

Its too early now but there is a Facebook or an amazon in there. But the rest will go the way of the do-do

Will get shutdown before it gets too big.
I.E. competing against actual currency. No one would allow it, and there's just way too much skin in the game. Not enough fat cats would benefit from the change over to cryptocurrency. Bitcoin and other's alike are competing against old, OLD money. It doesn't have the seniority, the weight, and therefore it will eventually fail.

That is a false hope. Enjoy having nothing.

Just like the dollar, it is a fiat currency. Subject to the same downfalls with the additional vulnerability of requiring a functional internet to access it.

The same investment is in ammunition, canned goods, and clean water.

Hope I bought them sooner when I saw a thread on here when it was launched, could've gotten rich big time

>There is nothing to back it up.
You mean like the gold that fiat currency is based on?

Oh yeah, they sold all that.

It'll crash, there's nothing to back it up. Except the work it represents and the value people place in it.

People have been saying this about Bitcoin since the start. I've made fucking bank on it and it'll keep doing it. Enjoy... not doing that.

the government is already making it illegal to not declare any funds not in a bank. they are going to go after that shit big time.

Better than God

They'll just inflate the shit out of the prices for each unit. Until, no one but high level traders will be able to afford them.

*safe

Bitcoins are already classified as a commodity.

somewhat related to that comic.
You know those self-checkout machines that suck ass? I hate them, but...

I had 2 friends who abused it continuously. They'd get groceries but also for example, a $100 electric razor, mark it as an onion for example, so it would charge by weight and they'd pay like 70¢ for a razor. Basically stealing it.

I make 500$us per month with cryptos and bitcoins, and there's nothing you can do about it

...

That is why there are decentralised coins like vertcoin

>get shutdown
>p2p

It's a scam. Blockchain technology is just not fit for big open market.

Bit coin makes my butt pucker. Me and my friend were going to put 1000 in it a long ass time ago but didnt because drugs were a better investment at the time.

so how to destroy the bitcoin?

Best currency.

I bought 5 BTC at $100 each, and sold them at $3000 each. They are now worth $7000.

HNNNNNNGGGG

I'll change shutdown to *heavily regulated
Just for you ;)

I remember when bitcoins were less than 1/10 of a cent. Makes me regret not buying any then

How so?
Provide technical backup for your statement, dear faggot!

so you lost the potential to have earned $20000

I feel you

Waiting for the next big crash to buy a shit ton of it

market cap almost reached (I think) Too much forking. Will crash in the next 5 years and monero will rise rapidly while ethereum will stay constant

I really need to check if I can just send someone to a bitcoin ATM to shove cash in the machine. One bank just told me starting december they are going cashless and another one started requiring ID with cash deposits yesterday. Shits fucked.

...

I have 0.01 of it. What i can buy?

i feel i know enough to know if I get involved ill get fucked.

gibe some plox.

Sounds like great way to buy drugs or child slaves

only used by pedophiles and sex trafficers

three years ago i was in high school, bad grades, no confidence, i made over 200k form crypto in the past year

>more than my teachers
>more than the superintendent and shit
>more than my parents

fuck off college lmao

yeAS Dat too heer

What is the exchabge rate between bitcoin and gold pressed latinum?

It could be the future. I hope to see it succeed.
It's probably too late to make a lot of money off of it.
Relies on encryption... Only time before computers are powerful enough to crack it and start guessing private keys.

if you still have them, then thats worth almost a mil now...

the future is exchanging energy, raw energy as a form of currency.

>Fire up p2p software
>internet connection is throttled permanently even though I was downloading something legal
>letter from isp threatening me
>no other isp choice

Wew lad

You guys are fuckin stupid I'm loading up on Trump coins, when Emperor Trump overthrows the whole world these bad boys will be the only currency that matter all hail Emperor Trump

It's been almost a decade now since the worlds economists realized the importance of decoupling the global reserve currency from one nations own currency, especially one tied to such risky behavior as the US's financial markets. A new non-domestic global reserve currency implies the creation of a new and truly decentralized, secure, future-proof currency, which implies a crypto-currency. However, the worlds economists have had their hands full trying to manage the worst case scenario in a smaller version of this playing out between Greece and the Euro, to disastrous ends. Either way, bitcoin has no future. It's means of creation are not arbitrary enough and too limited, strangling its future as a tradable currency.

Like eBay, it's shit, but awaiting a better competitor to come along at the right time and with the right backing. Then it's toast.

Same here, I think I'll mess it up big time and it will be a source of constant stress and anxiety

>Every Bitcoin thread since 2015
>Faggots bitchin they didn't bought it on time
Stop it

Two Bits is worth ¢.25. True story

If you don't care about the technology and just trying to make money then yes it's will probably result in stress and anxiety. If you do care it can be quite interesting to follow.

feel teh rage

you'll find out tomorrow morning
in south jersey

It sucks to live in the wrong part of Europe, fam
Come to the eastern side, we have cookies & torrents for you

As a dev I care about tech I was only talking about money

Reminder that 1 Satoshi = USD $0.0000704941

its either gonna blow up and lose all its value or its gonna be like a million dollars a coin in the future

I dont even understand how it works... I know it involves (virtual) money... and I cant even money.... so a guy like me even though I am not stupid... I don't know enough to make this matter to me.... if I knew how to handle it... navigate what it is to have bitcoins maybe i'd have interest... to me it seems like a venus fly trap type of deal for anyone who doesn't fully understand the whole creation thru its current state, value, purpose.. etc...

No you didn't

I said the same thing 8 years ago. Oh how fucking wrong I was.

Honestly Bitcoin is not in a state right now where it really matters to people like you. It is very experimental and speculative.

If it really succeeds as a currency there will also be technology that enables you to handle it better. There's no reason for you to rush into this technology

SHA-256("yourcatname") = ECDSA private key

honest question have you or are you currently into any MLM?

Would either of you send me 1 so that I could pay off all of my remaining debt? It would change my life. I'm just a stranger though, and uou don't have to. Have a good one, in any case.

1 b 8 8 pehWHFPRknHL JLWYhS 1kw8okG7HiJ

stay mad broke retard lol

I have not. What are you on about?

that misunderstanding of information is the direct link to profitability.

If you are saying is that e.g. MLM is profitable because people don't fully understand it, then I agree.

Dat niggas gon git hisself whacked and buried alive in a cornfield by "his" generals.

...

I'm surprised some people in this thread can even spell bitcoin

You can absolutely buy food with it. There's a debit card you can get that allows you to spend bitcoin anywhere.

its likely a bubble, though the government will likely make their own cryptocurrency like russia so they can gain their control back. it might be a good investment in the short term some people have became millionaires with a 1000$ worth of bitcoin but it seems to be too risky to rely on it long term

Mullet money.