Sooo whats Sup Forums's thoughts on bitcoin?

sooo whats Sup Forums's thoughts on bitcoin?

Other urls found in this thread:

youtube.com/watch?v=QrLr7MdyyLg
platform.jsecoin.com/?register=1&utm_source=referral&utm_campaign=aff26121&utm_content=
bitcoinist.com/aml-us-rules-force-declaration-crypto-borders/
twitter.com/NSFWRedditVideo

it think bitcoin is a pretty cool guy eh makes money obsolete and doesnt afraid of anything

arnt bitcoin going to crash in the next 12 months ?

isnt it like a pyramid scheme ?

good luck buying anything other than digital shit with them,

no backing by the gov

thinking about buying some to hold on to for awhile.

Of course if I do the whole thing will probably pull a bad luck brian and bottom out on me.

the fact that you don't understand it has no bearing on what it is and what it can do

the i-don't-understand-bitcoin starter pack

Isn't bitcoin going down? Cash is king afterall.

bitcoin is both a revolutionary technology and a speculative investment, if you only understand one part of it, you are very liable to get burned by it.

buy, then learn what it is and what it can do
let me know when, I'll buy the dip. why would you want cash that can't do anything special when you could have smart, trustless, peer-to-peer money?

people have been saying it wouldn't work and that it's going to crash for years now.


>Cash is king afterall
Only in the US, and even then credit card use is huge, the rest of the world is moving on to mobile payment and have been huge users of debit cards for years.

its gone from 5 cents a coin to nearly 10k a coin in under 10 years... people want to call it a bubble, but its actually a technology. when the automobile was invented people probably called it a bubble too, but since its a technology it just kept going and is now a large global technology used by 90% of the world. Bitcoin is similar, just in the baby stages of growth.

people called it a bubble which it was in 2013. then the bubble popped. now people keep calling it a bubble. it's already popped once it's not going to pop again ffs just look at the movement since '13, it's had chance after chance and constantly rebounded. this is legitimate movement

Brian from now on you shall be called user

Buy high, sell low. Only way to win user.

Only prob is the cost of selling and buying is very expansive so you need big swings to make it worth it

Here: youtube.com/watch?v=QrLr7MdyyLg

Kek

I'm thinking of putting 5k in.
I see bitcoin is almost 1000% on the year and my simple IRA only brought in 9% this year.
I just dont want to lose all my money.
is there a way to get it out quickly and what about taxes?

bumping for interest
how could some basic user start investing in bitcoin?

I only started reading about bitcoin like a month ago, and everyone was saying to buy some,

i went on ebay and found they are cheap as fuck per coin, so i bought 9 of these (pic related) how long do i need to hold onto them for until i can cash them in ?

do banks accept them and are they able to exchange them for proper money ?

i admit i jumped on the bandwagon after seeing heaps of post about them but am still pretty clueless how they work

go to one of the exchanges and sign up. I use coinbase for now. It has some higher fees than some of the other exchanges but it seems to be really easy to use.

>get it out quickly
bitcoin _is_ money, just FYI. if you want to sell on-command, you have to trust an exchange, which historically have had poor security.
>taxes
depends on your country, but if you sell you have to pay capital gains. If you spend and rebuy, you dont have to worry about taxes.

I am not an accountant, though, so don't cry to me if you get fucked by uncle sam

make coinbase acct, send some money to them, buy some bitcoin, send it to your phone with a wallet like Bitcoin Wallet for android or GreenAddress
play.google com/store/apps/details?id=de.schildbach.wallet
LUL nice digits and nice story

what i dont get is why would anybody want to support a system that only rewards early investors, i believe it has potential economic implications. Satoshi nakamoto would be the richest person in the world if bitcoin becomes the predominate currency soo. If there was a way to not have that i would feel better about but the government is still an issue because it is threatening to their power.

>tfw in college when Bitcoin was $300 and had no money to buy
I live in a constant state of fear and misery.

it doesn't only reward early investors, so long as people are willing to sell, you can exchange $100 for $100 of bitcoin and then do what you're meant to do, which is spend it.

It's a separate market/ecosystem from everything else, even if you start using it in 10 years it's just as useful, it'll just be more scarce.
you miss 100% of the shots you don't take. you would've sold it after it made just a little money anyway since you didn't/don't understand what it is anyway

If cash ain't gonna be king, I rekon ngr coin will be, even though proof of work will be lacking...

Did you even read my post? Everything you just said is either a wild assumption or has absolutely no relevance to anything being discussed. Why are you trying to act like an internet tough guy just because you know the basic concept of Bitcoin?

its just a fucking bubble
You will all lose your money in a few months when everyone gets greedy and decides to pull out their money

it's a lot like Jenga

someone's going to fuck everyone, and they're going to cackle like a madman while they do it.

but that's not necessarily when the tower falls, remember

incorrect

Great for buying hookers and drugs.

It DOES reward early investors if you had 10 dollars and held it for 100 years it would be worth less but if you hold on to bitcoin from the start it will appreciate in value tremendously

Oh you mean like literally every high risk investment in the history of the world

which is the opposite of every other nation's currency. literally as you hold a dollar, it becomes worth less and less

yeah and im not sure that so good for a currency to do

>im not sure
>must be a scam
hmmmmm

Finishing what globalization started. Get comfy newfags.

...

to give you a real reply, bitcoin is very new territory, it's very unusual in a lot of respects and the fact it's a deflationary currency is definitely a crazy concept, but the fact that it's infinitely divisible means .... does that really matter if there's a limited supply? as more gets lost, the value of all the other coins will go up, but they will always be divisible enough to be usable

cryptoSHEKELS are better

is it open source?

Underrated dubs

> infinitely divisible
> what is a satoshi

there's no technical reason why a satoshi couldn't be subdivided

yes it'd be a soft fork but everyone on the network would obviously agree to it

in this way, we can say it's infinitely divisible, even though right now it's technically not.

now, a fork to adjust the total bitcoin supply would be way different

Ok you brought 10 bitcoins when they were $11, when would you sell them?
At 30? 100? 200? 1000? 2000?

seems unlikely as someone with as little capital as you would have kept them this long.

I'am all in for block chain.

Not so sure for Bitcoin

That's a great idea newfag. Short with leverage until oldfag shows up....

satoshi has and everybody investing in bitcoin is just making him richer, whoever he is.

I think, given satoshi's ideas and beliefs, he will never trade bitcoin for dollars, and very likely would destroy his original 1 million bitcoin in the event bitcoin needed to be even scarcer than it currently is. Some people think his coins are lost, but no one knows for sure; if he sent them to an unspendable address, everyone would all of a sudden know for sure that instead of 21 million, it'll only ever be 20. imagine what would happen.

lul

Well for my example I bought 400 at 1.26 and sold a lot.

I only have 2 left and I'm not rich.

It's going to pop again, all markets do it's just gonna rise back up higher again ad infinitum

Perfect time for you to buy so I can unload my Euphoria state over 9000 bags! I'll even be nice and rebuy your tears when they dip to 6700 and sell them back to you at a higher price.

Nïgger you still could have bought $30 of Bitcoin and you'd have about $900 now. Smh

I think its still worthwhile purchasing bitcoin. Remember many people still havent even heard of it and will still likely buy in. So theres money to made. Not massive gains, but selling before it drops will make you a profit
Secret is to get in on one before they go live. For anyone who has missed out but want in on a crypto currency.
JSEcoin has recently launched. If you open an account, confirm email and they will automatically start you off with a deposit of 0.12 JSEcoin.
No bullshit, no spam, you can just sit on it and forget about it. You don't even have to purchase any. Follow the link it'll take you to their page, if you opt in you will be one of the initial investors for this crypto. It won't start trading until the new year.

platform.jsecoin.com/?register=1&utm_source=referral&utm_campaign=aff26121&utm_content=

gtfo advertisement

good old days

cryptocurrency is incredibly useful but the infrastructure isn't there to support it yet

same thing will happen as the dot.com boom.... it'll crash then make a resurgence in a few years once more adoption and infrastructure is built out to support it

its a pretty safe bet that it will crash as it's already done so once. it's value is growing at an unsustainable rate and it's use is extremely limited.

what happens when you try to actually cash out 100 bitcoins you got in the early days that are now $10,000/ piece? if even a fraction of bitcoin holders attempt to realize their bitcoins into actual money the market will crash as the bitcoin banks cant pay out which will create a panic and a bitcoin firesale will occur

tfw it was 20cents in college....

Same with my mom

maybe but in the long run it's going to be worth 40K each.

the point is people WON"T be cashing out of it, they believe in it and it works as a currency all on it's own.

so you're 10?

You're mom's 10

>cryptocurrency is incredibly useful
Name one legal thing you can do with it that isn't more easily done with a central server.

assuming another cryptocurrency doesn't leap it

it can be worth $1,000,000/piece but it means nothing if it can't be turned into real world currency. if people do then it crashes. it's just another fiat currency backed by little more than hopes and dreams.

It's in a boom period. If you got on earlier this year, good on you. Waiting pariently for crash and build back

buy not yet illegal drugs
Also, tons of other things no I'm not going to list them because I don't give a fuck about you faggot

How tf do I invest my money in this shit?

that wasn't me but i agree with his sentiment

>buy not yet illegal drugs
If it's legal, just pay with your credit card.

>tons of other things no I'm not going to list them
I asked for one.

underrated post

Not sure how it works when there is no more coinbase though, wouldn’t the fees just skyrocket to keep up a viable transaction system? Or would all the big hodlers just run full nodes to maintain the value of their assets?

The only way Bitcoin is worth anything is if OTHER people think it's worth something. The only way to drive up the price when 98% of it is owned by just a few Whales is to promote it as being "better" than cash or gold - in the hope others will buy into it. Because without the base users it's utterly worthleess unless you're a slave-raping-drug abuser who wants anonymity. Look at Bitcoin right now! It's worthless to try and buy a meal with it because the price for transaction fees is sky high.

This is why we have people stamping actual money (committing a crime by defacing it) to try and drive up demand.

Transfer large sums of value across borders, hide from bullshit taxation, etc.

>legal

You could securely transfer millions of dollars worth of assets without the government or any bank involvement.

Transfer large sums of money between state lines without the government taking it because they think it is drug money with no other proof.

I don’t know what the legal basis is for the government to try to pull every penny out of every single trade, it makes literally no fucking sense, I’m not earning income I’m risking my own earnings, complete fucking bullshit.

But will the bell ring so the angel can get its wings!?

>>tfw silkroad is no more and your sitting on fucktons of bitcoin

i feel sorry for those arseholes

Legal doesn't mean moral.
Whether you like it or not, if you're trying to dodge taxes, the government will come after you.
If cryptocurrency is used for illegal activities on a large enough scale, they will just it down. There are ways.

>Transfer large sums of money between state lines without the government taking it because they think it is drug money with no other proof.


Stupid Fucker, aren't you? New Laws this year are about to be passed that will put an end this. The penalty for not declaring your Bitcoins will be total forfeiture.

bitcoinist.com/aml-us-rules-force-declaration-crypto-borders/

Long running ponzi scheme

They can fuck right off, what are they going to do search my usb drive for my private keys? They can suck my dick.

It's a speculative bubble, but it was probably not intentionally set up for this purpose.

...

>While it is unclear how those arriving in the US would be screened for digital currency holdings

they dont even know how to screen ppl for crypto. If someone asks just say no.

I find it funny because the current infrastructure can't handle all the transactions if they just quit speculation buying and actually do something with it.
Satoshi still has about 1 million uncirculated Bitcoin if he does something with it and didn't lose his keys lol.

Get BCH, Ripple or ETH as they're all better.

>They can fuck right off, what are they going to do search my usb drive for my private keys?

They are going to be looking though your Phone for a Cryptowallet and they are going to be looking for any information written down. Then they'll force you to disclose what you have.

Not only are Customs agents and Border forces being empowered to do this, but they are going to be givel plenty of slack because Bitcoin is the currency of Blackmailers, Terrorists, Slave Traders and Child P0rnographer/Traffickers. Did I mention arms dealers and drug transactions?

So yeah.

And Australia just made Bitcoin profits a "Taxable Income" and a taxable like any other business. Fail to pay your taxes and they make an example of you.

Vietnam just made it a US$9,000 fine per offense for ANY transaction using Bitcoin.

Can anyone spare me like .001 BTC? I want to see how much I can make off trading btc. I bet by the end of the year I could make at least .1 with .001.

1MaYYjVKG5hcfNEW
1f9GtawZvBVniiLJZ1

Buying bitcoin is investing in blockchain technology that has the potential to change the world. Cryptocurrencies and the "coins" themselves are fucking worthless imo.

You're just gambling. You could lose everything at any time. Small probability, big loss.
If you want to make payments just use paypal :^)

Fees would destroy you and the bubble looks like it's about to burst.

Begging is not allowed even on Sup Forums

I already multiplied my money in Cryptos and it wasn't Bitcoin for the most part, no longer gambling but you could originally say I was I suppose.

I think bitcoin will finally hit the normies in the upcoming months which will finally make it peak and begin its upcoming crash. The fact that people on /b are talking about it is evidence of the begining of the fall

It's all over news, radio, social media so it's already known and if you look at the past week buying volume is at an all time high.
I don't think you'll have to wait months for it.

LOL what a dumbedass it's your*

nice dubs friend :^)