Beta Key Giveaway Week 3: Winners have been selected!

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  1. #41
    The Undying X Amadeus X's Avatar
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    Quote Originally Posted by Slant View Post
    I believe it'll burst ultimately when countries decide they've had enough of it and declare the whole idea illegal. Good luck trying to turn Bitcoins into dollars then. There's a reason countries usually have the exclusive authority on currency.
    I’ll be surprised if it goes that far. I think some know people will fall for this. It couldn’t be anymore clear this worthless coin is backed by nothing. Basically trading real money for nothingness
    "Intellect alone is useless in a fight...you can't even a break rule, how can you be expected to break bone" Khan Singh

  2. #42
    Quote Originally Posted by Creamy Flames View Post
    Didn't it just crash massively after NiceHash was hacked?
    It's such a hillariously fickle and unreliable currency.
    No, $60mln USD was hacked/scammed which is irrelevant in the bigger picture of current market cap, which is $250mld.

    Also, here's official statement from NiceHash:
    https://www.reddit.com/r/NiceHash/co...t_by_nicehash/

    I bet it's gonna get solved and stupid people's BTC will be returned. Sorry, but someone who doesn't keep his BTC in an offline wallet deserves to be called stupid

  3. #43
    The Undying X Amadeus X's Avatar
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    Quote Originally Posted by Ryme View Post
    Change bitcoin for USD and remove the word crypto and your statement is still true.
    No that’s not remotely true and that is a very horrible argument. I’m sure a lot of people are being fed that nonsense for this scam.
    "Intellect alone is useless in a fight...you can't even a break rule, how can you be expected to break bone" Khan Singh

  4. #44
    Quote Originally Posted by Nostrix View Post
    Very entartaining post.

    I guess it's still forbidden magic and science for some people to understand that in XXI century you don't need to get your hands dirty and leave your home to make A LOT of money.
    I didn't say that you can't make money online. I tried to point out that virtual currency may not be the best option if someone only invests into them.
    My old love, finally get some more love :> Scarab Lord Colki
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  5. #45
    if I had bitcoins I would just cash them out.
    Can you cash them out?

  6. #46
    Quote Originally Posted by Nostrix View Post
    Governments will take care of BTC soon enough. In Japan, BTC is already fully accepted as currency. In Switzerland, you can already pay your taxes with it, in some cities, etc.

    Btw, did you believe me about what I just said about Japan and Switzerland? Was it truth or lie? :-)
    No idea about Japan, but I know that one city in Switzerland allows paying the taxes in bitcoins (just as you can in Euro and Dollars in several cantons).
    But you just pay according to the currenct exchange rate plus a exchange fee, so what's the advantage? The Bitcoin then still has no inherent value in Switzerland, but only the value it has when you exchange it into CHF.

  7. #47
    BC transactions now take several hours and have high transaction costs. Steam isn't accepting them as payment anymore....

    And here's the thing... The last episode of the BIG BANG THEORY had a lot of Bitcoin talk in it. About 14 mill people in the US are watching it. What a coincidence it went up even further! How's BC use to anyone if the network is near collapsing? And people saying they'll eat their genital if it doesn't reach a certain value def have a part in it.

    Also the door to trading futures has been opened which brings it near the stock market but far away from its original purpose.

    https://www.reuters.com/article/us-m...-idUSKBN1DY0Y2

    If you do some research on Crypto Lending Programs (and I think you should do) then you'll notice it has some of the same charakteristics and it's a snowball in the end.

  8. #48
    The Undying X Amadeus X's Avatar
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    Quote Originally Posted by Hanablossom View Post
    if I had bitcoins I would just cash them out.
    Can you cash them out?
    Then you would be smarter than most who won’t.
    "Intellect alone is useless in a fight...you can't even a break rule, how can you be expected to break bone" Khan Singh

  9. #49
    The time to cash out of BitCoin is when it starts being accepted by major retailers.

    The reason is that central banks don't like competition very much. That's why we have legal tender laws. Legal tender laws in the United States, for example, dictate that you are only allowed to pay for goods and services with Federal Reserve Notes (not "dollars").

    If BitCoin ever starts to pose a real threat to central banking then there will be a massive multinational crackdown to "shut it down" as they say.

    It would be nice to believe that BitCoin could succeed at bringing down central banking. Humanity would be better for it. But I'm not that naive.

    In the meantime there's no harm in investing in it. As always, the rule for investing in risky assets or for gambling is only bet what you can afford to lose. Then even if you get completely wiped out you still won't lose your shirt.

  10. #50
    Quote Originally Posted by Hanablossom View Post
    if I had bitcoins I would just cash them out.
    Can you cash them out?
    Yes. Would you cash it out right now, or wait until it grow, perhaps 10 or 100 times as large as it is now?

  11. #51
    Quote Originally Posted by Puri View Post
    While it's no scam, obivously it's a bubble. The bitcoin has no inherent value, instead of bitcoins you could have numerated 16 million rocks. It's current value is just what investors think it is worth, but since it has no actual worth it's only value is the faith that it will become more valuable.
    Everything has "actual worth" fyi, I don't think you understand what that means or using it in terms of accounting but if you want you can declare it under your assets so it does have that as well . Also you do realize, you are basically describing how all currencies work right as well as stocks and bonds? non of those pieces of papers you carry in your pocket have "inherent value", US can decide to default on treasury bonds (no one in their right mind would agree to in government.. but we have trump right now so who knows) or a major market can collapse and all you can do with those papers in your pocket will be toss in the fireplace to keep you warm. They have no intrinsic value.

    Also, I don't think you understand how an economic bubble is formed either. A bubble is not caused by placing price on an asset or trading said asset that has "no value", it is caused when the price of <anything> go way above its "value" (which is really REALLY hard to define and see in many real life cases) followed by extremely high amount of investment and market activity for that said "thing". After the price reaches an unsustainable level, it is quickly followed by sellout and major crash in price and collapse of the market. This can happen to literally anything regardless of its "worth".
    It is a bubble because it has no actual value is not a valid argument

  12. #52
    Quote Originally Posted by Mall Security View Post
    Then you would be smarter than most who won’t.
    Smart but no money D:
    I rather be dumb and actually have spending power.

    Quote Originally Posted by Nostrix View Post
    Yes. Would you cash it out right now, or wait until it grow, perhaps 10 or 100 times as large as it is now?
    It's a gamble, I'd rather place it safe.
    Maybe cash out 50% of it instantly, leave the other 50%.

  13. #53
    Quote Originally Posted by Nostrix View Post
    This is so wrong. It was growing all the time. If you think BTC was around 1000 USD for 7 years you're obviously clueless, go educate yourself. Don't look at absolute number value, look at percentage increase.

    10 USD -> 20 USD is as much growth as 5000 USD -> 10 000 USD
    Beneath 1000 dollars, would entail 0-999 dollars, so I am not sure where you see the flaw in that? Unless you want to argue that they gave BitCoins away at some and that it was negative?

    Also are you kidding me? You don't see the difference of growth between 10 USD and 5000 USD? You do understand that this is money and not isolated math?
    I'm not racist, I merely have a tolerance deficiency

  14. #54
    Quote Originally Posted by Mall Security View Post
    No that’s not remotely true and that is a very horrible argument. I’m sure a lot of people are being fed that nonsense for this scam.
    Yes it is, the USD is a fiat currency. It's not backed by anything, like the GBP and Euro. You haven't been able to revert back to gold or silver for any major currency for decades now.
    I am the lucid dream
    Uulwi ifis halahs gag erh'ongg w'ssh


  15. #55
    Quote Originally Posted by Lemposs View Post
    Beneath 1000 dollars, would entail 0-999 dollars, so I am not sure where you see the flaw in that? Unless you want to argue that they gave BitCoins away at some and that it was negative?

    Also are you kidding me? You don't see the difference of growth between 10 USD and 5000 USD? You do understand that this is money and not isolated math?
    There is 0 difference in whether something grows from 5 USD to 10 USD or from 5000 USD to 10000 USD.

  16. #56
    I have like 5k euro on my bank account, can't even buy one bitcoin

  17. #57
    The Undying X Amadeus X's Avatar
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    Quote Originally Posted by Ryme View Post
    Yes it is, the USD is a fiat currency. It's not backed by anything, like the GBP and Euro. You haven't been able to revert back to gold or silver for any major currency for decades now.
    No it’s backed by the federal reserve which is regulated and real as opposed to the bullshit conspiracy nonsense you’re peddling now. Yes everyone has heard the nonsense about the gold standard. This is backed by no standards at all you conflating the two is just warped.
    "Intellect alone is useless in a fight...you can't even a break rule, how can you be expected to break bone" Khan Singh

  18. #58
    Quote Originally Posted by Hanablossom View Post
    if I had bitcoins I would just cash them out.
    Can you cash them out?
    Of course you can cash them out
    I used to have a loooot of bitcoins. When it was around $700, it was stable around that amount for some time.
    I thought "such good idea to make half million now" and I sold around 1000 of them and made 500k euro.
    That was huge mistake, since had I kept them, they would be MUCH more now.
    But lesson learned. the ones I have I keep until they reach high 6digit number each

  19. #59
    Quote Originally Posted by d00mGuArD View Post
    Of course you can cash them out
    I used to have a loooot of bitcoins. When it was around $700, it was stable around that amount for some time.
    I thought "such good idea to make half million now" and I sold around 1000 of them and made 500k euro.
    That was huge mistake, since had I kept them, they would be MUCH more now.
    But lesson learned. the ones I have I keep until they reach high 6digit number each
    But it can also crash and burn.
    You might think you fucked up but it's the safest way to play these kind of games.
    Maybe it's because I have almost no money or spending power that I want to play it safe.

  20. #60
    Quote Originally Posted by Mall Security View Post
    No it’s backed by the federal reserve which is regulated and real as opposed to the bullshit conspiracy nonsense you’re peddling now. Yes everyone has heard the nonsense about the gold standard. This is backed by no standards at all you conflating the two is just warped.
    OK, good luck to you!
    I am the lucid dream
    Uulwi ifis halahs gag erh'ongg w'ssh


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