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Bitcoin exceptional individuals

Discussion in 'Cryptoshekels' started by AnOminous, Feb 13, 2016.

  1. Ethereum crashed? That's utterly hilarious.

    4chan's /biz/ is always on about crypto-investment, failing to realize that established investment companies worth a shit don't go into them for very obvious reasons (namely, that they're more volatile than a Wolverine soaked in gas). A while back, the entire forum was flooded with threads about ETH going 'TO THE MOON', cackling as 'nocoiners' would certainly be on suicide watch after this massive jump that you just wouldn't get with blue-chip stocks.

    I wonder how many of them were smart enough to pull out after the jump? Or, rather, if they were even allowed to pull out after the jump, considering how wallet companies seem to be corrupt, stupid, and nonfunctional.
     
    ccoinhoarder

    ccoinhoarder CRY XIRSELF TO ASH

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  2. There' a new crime in the making!
     
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    Trilby

    Trilby The Alt-Centrist

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  3. They are still incredibly salty over Circle.

    Because I know that if there's one thing companies love when looking into taking a chance on Internet money, it's the knowledge that their potential customers have the emotional maturity of eleven-year-olds.
     
    Solzhenitsyn

    Solzhenitsyn me on the left
    True & Honest Fan

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  4. Advertising for a specific service and then getting a bunch of people to sign up for it and then canceling the only reason anyone used it isn't exactly great business practice either.
     
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    AnOminous

    AnOminous LOOK UPON ME BRO I'LL TELL YOU THE COOLEST STORY!
    True & Honest Fan Retired Staff

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  5. Caveat emptor, my African-American friend. Caveat emptor.
     
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    buffaloWildWings

    buffaloWildWings She rides astride the Beast

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  6. Since we talked about Ethereum a while ago, did I mention one of the most "wait, what?"-esque sentences ever written in Wikipedia?
    It's not a typo.
    It's not a typo.
    Not hundredmill'n. Not hundredthousand.
    Hundredbucks.
    Fuckit.
    I hear there were a few sales since that, so this astonishing revenue may have even doubled. But you can't buy the thing from the site any more, so it's all rather academical anyway.
    ...Music industry isn't quite as omnipotent as it seems.
     
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    WWWWolf

    WWWWolf Has a camera, will kick butt

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  7. I remember when Doge came out. My friend heard about it through reddit within the first day, and we both predicted pretty much some form of the trajectory it went through, and just mined for about 5 days then sat on the coins for a while and cashed out when we saw the inevitable scam incoming. We never managed to sell for cash, but we found someone who traded us for 30 PLEX on EVE online, so that wasn't bad for basically no work.
     
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    AnOminous

    AnOminous LOOK UPON ME BRO I'LL TELL YOU THE COOLEST STORY!
    True & Honest Fan Retired Staff

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    MarineTrainedTard

    MarineTrainedTard Pepper Jack 'bout to cut somebody!

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  8. Well, of course it is. I assume it will meet the same fate as Coinye West (absolutely nothing to do with Kanye) and the Bitcoin bills featuring Ron Paul (who was careful not to endorse Bitcoin in any way ever, despite probably agreeing with the sentiment).
     
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    WWWWolf

    WWWWolf Has a camera, will kick butt

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  9. Step 1: Buy coins
    Step 2: ????
    Step 3: Profit.

    Sounds like most Trump plans, tbh.
     
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    Skeealator

    Skeealator Skelentin Justice Worriur

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  10. Crazy times ahead, Bitcoin just dropped $1,000 in two days.
     
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    Skeealator

    Skeealator Skelentin Justice Worriur

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  11. The only good thing about BTC/ETH is you can buy drugs with them.
     
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    mdrop22

    mdrop22 probably high right now

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  12. Bitcoin is no doubt a miracle to the handful of neets and wealthy individuals alike that it earned millions of dollars for, but now the technology is demonstrating it's inability to scale well enough for long-term adoption, and the politics of BTC are making it too prone to forks. Congratulations to those lucky few autists that made it, but the people buying in right now are five years late on hype, and Bitcoin has demonstrated in the past week that neither it nor its forks will ever be a good store of value. Blockchain technology in general is innovative, but BTC won't be the one that normalizes it globally.
     
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  13. The general community around Bitcoin is what is going to ruin it, ironically, considering that it shouldn't be possible to do that.

    The entropy and waste heat issue is a larger concern in the long run for crypto in general, although ironically, if energy issues spike the cost of electricity, that will actually also spike the cost of generating crypto. It's just a question of whether this will fuck it up so badly that it actually makes transmission itself impractical. Increasing the scarcity of the currency itself increases its value otherwise.
     
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    AnOminous

    AnOminous LOOK UPON ME BRO I'LL TELL YOU THE COOLEST STORY!
    True & Honest Fan Retired Staff

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  14. Electricity consumption is directly related to the security and value of a PoW blockchain. I sometimes hear people worrying about hashrate drop due to unprofitable mining, to which I reply that people obviously don't value BTC that much if they're not willing to support the hashrate either directly via miners or boosting the price by buying.

    If there was an energy crunch (at least at a global scale) everyone would have to throttle down proportionally, dropping the difficulty to maintain the same-ish profitability. It's the cost of the electricity that matters.
     
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  15. I want to try to make money on bitcoins. Many people are doing this. I want to learn more about all the pitfalls. I found this article https://bitcoinbestbuy.com/, it describes everything in detail, however I would like to hear real feedback and advice. Thanks!
     
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  16. Pitfalls: bitcoins are an inherently unstable, finite 'currency' backed by no one with no real value whatsoever and are significantly worse in every way than any other form of money including wampum and iron rods.

    There's people on r/bitcoin talking about how they made transactions like, four days ago and it still hasn't gone through. If your form of money transference is slower than putting a check in an envelope, with a transaction fee significantly higher than 49 cents, maybe it's not the greatest method.
     
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