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  1. #181
    Quote Originally Posted by iodsnips View Post
    I think a lot of people think to themselves they can't mine bitcoin directly (without an ASIC) & its too risky to invest right now,
    Well if you don't have people mining you don't have transaction processing which means you don't have liquidity. Are you "old" enough to understand what that means for Bitcoin?
    The whole problem with the world is that fools and fanatics are always so certain of themselves, but wiser people so full of doubts.

  2. #182
    Top 3 reasons to NOT invest in Bitcoin (BTC) which are quite massive. I still think they could be worth over 50-100 thousand bucks 10-20 years from now but they could drop under 1000 bucks this next spring too. Either way there is a LOT of risk involved, but these are my top 3 reasons to STAY OUT of Bitcoin for now.

    1. Tether (USDT). Real actual national currencies of people investing real money into crypto volumes are pretty low right now, so when Tether creates the sense that the value of bitcoin is about to be going back "to the moon" then real people invest real dollars & the tether manipulators pull the real money back out of the system. If 90% of the money being backed by Bitcoin were US Dollars, Japanese Yen, Korean Won's, then there would be REAL RISK backing the value. But TETHERS are basically like printed monopoly money from guys running it in Panama behind dozens of shell companies where they will either make bitcoin's price skyrocket high again before popping their own coin to scam everyone OR they will just exit the market entirely. If the dozen people running tether can manage to make over $2-4 billion in 1 year that is pretty insane in and of itself at this point.

    2. Nobuaki Kobayashi - The MT. GOX Trustee will be releasing people's bitcoin & bitcoin cash tokens AFTER February 14th, 2019 but BEFORE March 31st, 2019 (before Q2 2019). So how many fresh coins which have not been touched in years will suddenly re-enter the crypto space? 137,891 Bitcoins (BTC) & 162,106 BitcoinCash (BCH) tokens!?! Google search this for a great monitor that shows the date timestamps for withdraws, since anyone can see when coins have been pulled out of a wallet thanks to the blockchain: MtGox Cold Wallet Monitor - CryptoGround

    3. SATOSHI - the creator of bitcoin just went active 12/1/2018! Some say he might be dead, others say he was a fictional avatar of someone from the CIA who really made it, and I have even heard he was a real man but was captured by the CIA/FBI and never released, lol. Ultimately his email and admin access on the message boards are all we can really go by and he has been silent since 2014..... Up until December 1st, 2018! He posted the word "NOUR" and added a Brazilian as a friend on the message boards, with the word meaning "LIGHT" in arabic. Why could this be a concern you might ask? Satoshi Nakamoto the creator of Bitcoin has 1,148,800 BTC in his wallets! Proof the man or at least the person in control of his possessions are once again ACTIVE after 4 years of silence is a little alarming. With such a low amount of bitcoin volume, even if he tried to sell 5% of his BTC savings would crash the market down HARD at this point! This 3rd reason is mostly out of FEAR, where its likely nothing will happen or that the paper wallet addresses were destroyed or his hard drives have gone missing or destroyed from that long ago. But this is sort of like the Yellowstone Super-Volcano sleeping, it will probably be okay, maybe.


    CONCLUSION: The larger the percentage of real money being traded for bitcoin, the more stable & less amount of risk there is in its listed "VALUE" against the US dollar. The higher the percentage of it being backed by Tether USDT's where they control almost the entire price of bitcoin at any given moment the less true that real value is which is where we are at today December 2018, especially if Tether popped or was removed one day instantly. The real money being traded daily is so low that even a small amount of new bitcoins being introduced could crash the price of bitcoin way lower then 3800. With 138,000 BTC + 162,000 BCH being re-introduced in February/March 2019 will surely hurt the supply & demand balance of bitcoin sooner rather then later. And if Satoshi the creator of bitcoin, or a hacker who has his possessions, or a secret government or a quantum computer breaking his private key releases any of his 1.1 million bitcoins then get ready for bitcoins under 1000 bucks again very quickly!

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    Quote Originally Posted by Afrospinach View Post
    Well if you don't have people mining you don't have transaction processing which means you don't have liquidity. Are you "old" enough to understand what that means for Bitcoin?
    For Bitcoin to be fast enough to compete with VISA transaction wise it needs massive Lightning adoption or other big changes to take place, not more miners. So I have no idea what you are talking about. Even if some billionaire started making ASIC's and created 10x more hash computing power for mining then what exist today driving the difficulty through the roof there still wouldn't be anywhere near enough transaction speed to make Bitcoin viable for global processing. New technologies will change the code of Bitcoin over time, such as the Lightning network which could make transactions take seconds. But this whole process could still take years to develop.

    People who bought a PC in 1993 and realized they couldn't stream video over their dialup internet modem might have thought the internet is stupid and will never take off. Technology and humanities needs change over time. All I ask is people keep a more open mind in the longer term (10+ years) and NOT just "what will bitcoin be worth in 2019". If our only question was "what will the internet be like next year in 1994" then our attitude towards computers would have still sucked.
    Last edited by iodsnips; 2018-12-04 at 01:55 PM.

  3. #183
    Deleted
    Quote Originally Posted by Kul Tiras View Post
    I still can't find a single person or video to properly explain to me what the fuck bitcoin is, as such, I continue investing in stocks and other things.

    To me bitcoin makes no sense, has no value and does nothing for no one. Not one single person can explain to me in a few sentences which don't make you want to ask 100 more questions, why it is worth anything.
    Did it occur to you that you might just be a moron who can't google stuff? There's a billion articles on the subject which go into painstaking detail.

    If you mean "men in suits on television haven't given a summary for the benefit of the stupid" then yuh Jeb, you are correct, stay away from it.

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    Quote Originally Posted by thevoicefromwithin View Post
    It's worth something, because a seller and a buyer agree on that value. That's the most basic market fundamental. You - or me - don't have to agree with that assessement.
    You'd think that point would be obvious. But this simple point seems to elude those people who shout "scam" at bitcoin.

    Fun experiment: google news stories from the early tech boom at the start of millenium and you'll see tons of people coming out with the stuff about amazon et al.

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    Quote Originally Posted by Tonus View Post
    It's a solution to government corruption... if the government proves it is incapable of handling their own money supply, something like bitcoin or gold tends to be the substitute because it's relatively stable. Doesn't work great when there's a liquidity crunch though.

    There have been a few companies who've pegged their currency to the dollar for the same reason - government can't handle having control over the money supply.
    This is pretty much the point of bitcoin and the reason why I'd hold some bitcoins unless it falls to 10 cents or something.

    It seems fantastic for many westerners but currencies can be devalued by governments. If you were holding roubles in the nineties you got fucked. Fortunately this has not happened with western currencies (except to a limited extent in Cyprus) recently, but past performance is not always an indication of future performance.

  4. #184
    Quote Originally Posted by fulparth View Post
    Did it occur to you that you might just be a moron who can't google stuff? There's a billion articles on the subject which go into painstaking detail.

    If you mean "men in suits on television haven't given a summary for the benefit of the stupid" then yuh Jeb, you are correct, stay away from it.
    A worthy effort, but futile. Next time make the most out of alt accounts and get some fun shit in besides generic shit posting.

  5. #185
    It's been obvious crypto is over since the great bitcoin collapse.
    And then the several months after it where it never gained much of anything notable back along with all of the other main digital currencys doing the same.

    If you have any bitcoin left i would sell it all and cash out of the pyramid scheme now.

  6. #186
    The best cryptocurrency to invest is Bitcoin because the value of a Bitcoin compared to the US dollar and other currencies has skyrocketed over the last couple of years, it has shown up on some people’s radar as an investment opportunity as well but before you put a dollar into Bitcoin or any other cryptocurrency, it is important to understand the risks. Bitcoin could easily double in value over the next few years. Use reliable pages: use safe sites like here to navigate and also only use reliable devices such as your cell phone, your computer and your home's wireless network. Never use public networks neither to make investments nor for any type of financial consultation.
    Last edited by duke dumont; 2018-12-19 at 02:08 PM.

  7. #187
    $3,578 right now.
    .

    "This will be a fight against overwhelming odds from which survival cannot be expected. We will do what damage we can."

    -- Capt. Copeland

  8. #188
    It was down to near 3200 a few days back.

  9. #189
    Deleted
    Does this mean Graphics Card prices are finally going to start coming down?

  10. #190
    Quote Originally Posted by Tonus View Post
    It's a solution to government corruption... if the government proves it is incapable of handling their own money supply, something like bitcoin or gold tends to be the substitute because it's relatively stable.
    Which is a pretty limited amount of countries given the technological requirements.

    In the meantime, cryptocurrencies pull down the significance of hyperledger technology. That's easily something that should be a necessity in bookkeeping but crypto shills and the ignorant alike attach the two as if there's a two way dependency.

  11. #191
    Just pointing out that bitcoin is now over $8000, a 150% Jump, and Slant, Endus and all the other f***ing morons that don't know how do basic analysis of a financial product were verifiably wrong.

    BAN ME PLEASE, YOUR IMPOTENT ABUSE OF TINPOT AUTHORITY SUSTAINS ME....

  12. #192
    Quote Originally Posted by snothlord View Post
    Just pointing out that bitcoin is now over $8000, a 150% Jump, and Slant, Endus and all the other f***ing morons that don't know how do basic analysis of a financial product were verifiably wrong.

    BAN ME PLEASE, YOUR IMPOTENT ABUSE OF TINPOT AUTHORITY SUSTAINS ME....


    7,604.99 United States Dollar right now.

    Bitcoin == gold, it goes up when there is bad news. America and China not reaching a trade agreement being the bad news. Bitcoin will go down when there is good news.
    .

    "This will be a fight against overwhelming odds from which survival cannot be expected. We will do what damage we can."

    -- Capt. Copeland

  13. #193
    Legendary! Santti's Avatar
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    Quote Originally Posted by snothlord View Post
    Just pointing out that bitcoin is now over $8000, a 150% Jump, and Slant, Endus and all the other f***ing morons that don't know how do basic analysis of a financial product were verifiably wrong.

    BAN ME PLEASE, YOUR IMPOTENT ABUSE OF TINPOT AUTHORITY SUSTAINS ME....
    Wow, imagine being this unhinged.
    Quote Originally Posted by Ransath View Post
    Money laundering, especially prior to his election? I couldn't give a flying fuck.

  14. #194
    Quote Originally Posted by CryotriX View Post
    I'm glad it rebounded. Hope it continues to grow. It has become obvious this year that we need an alternative to mainstream currency that is at least somewhat reliable. It's the last resort for somebody that has been purged from "civilized society" /spit.
    I'm actually all for bitcoin much like medical implant chips, but conspiracy type people will never get on board and there's more than you'd think. I can't stand the people about medical chips "I don't want the govt tracking me" when they really could already if they REALLY wanted to do so.

    - - - Updated - - -

    Quote Originally Posted by Santti View Post
    Wow, imagine being this unhinged.
    Over something not that serious. Then again I'm pretty sedated typically because I let my anger out in constructive means.

  15. #195
    Its too useful for money laundering, I wouldn't be surprised if government slush funds keep it afloat and healthy

  16. #196
    Scarab Lord Kuja's Avatar
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    Oh no. Just when I hoped GPU prices would lower to more reasonable levels. Guess I'll have to wait for Intel's GPUs for the pricing competition to begin.

    My gold making blog
    Your journey towards the gold cap!


  17. #197
    Quote Originally Posted by mavfin View Post
    Fact is, I'll never invest in a currency that can be 'broken' or 'cryptomined'; i.e. it can be broken into and stolen *in and of itself*. Sure, investing in dollars or Euros, or pounds sterling has risk attached to it, but, you don't just risk it just disappearing out of your electronic wallet because someone broke the key...

    If they get that figured out, then it can be a respected currency. Till then, no.
    Between some government going ape shit and more than half of the community participating being comprised of a single (malicious) entity, I'm actually more trusting to the latter not happening. That will be the case for as long as quantum computing hasn't become a thing some backyard crook can pull off. Which presumably will be for more than long enough for my own life span.

    Volatility (read: "non-mainstreamness") is just too high right now for cryptos to be a serious competition. We'll get over that. As of now, they're an interesting side-project to season your financial investments. As much as this practice is frowned upon by the hardliners.

  18. #198
    During the boom, I bought a few video cards, set up a few mining rigs, and puttered around with mining for a bit. It was fun. I have about $3000 worth of coins right now. I'm just going to watch what happens over time. IDGAF about $3000, so I don't care if it all goes down to nothing. If it goes up to tens/hundreds of thousands at some point, then I'll probably cash out.

  19. #199
    The Insane Masark's Avatar
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    Quote Originally Posted by Kuja View Post
    Guess I'll have to wait for Intel's GPUs for the pricing competition to begin.
    You're hoping that Intel produces worthwhile graphics the second time around, eh?

    Warning : Above post may contain snark and/or sarcasm. Try reparsing with the /s argument before replying.
    What the world has learned is that America is never more than one election away from losing its goddamned mind
    Quote Originally Posted by Howard Tayler
    Political conservatism is just atavism with extra syllables and a necktie.
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  20. #200
    I personally believe that crypto currency is the future of all money. Actually the price of Bitcoin is hard to forecast, but in my opinion, the price of Bitcoin will be around 30.000 and only then will become stable. All involved in the crypto currency world should follow crypto news

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