Official CryptoCurrency Thread (Bitcoin, Litecoin, Ethereum & More)
- Thread starter irishfury
- Start date
Exiled Martian
Was young I couldn't do good, now I can't do Bad
For the new blooded BTC enthusiasts just remember some key points of what you are getting involved in as its not as simple as buying,selling & flipping;
We know there are only so many bitcoins...so people are hoarding them and driving up the imaginary price.
People with deep pockets (china) are investing into the program, driving the price up even further.
It's getting harder and harder to mine bitcoins, many people probably spending $1,000's of dollars and may mine a few coins in a years time.
There is no safety net. You toss a hard drive into the trash, you have a power surge, your account gets hacked...nobody.will.back.you.up. There is no FDIC, there is no police report that can be taken. The value of the bitcoin is purely a value to those who want to collect bitcoins. Bitcoin could be priceless, but only to the enthusiast I suppose.
Will people take them? Eventually yes...I mean on paper it looks like it's valued immensely. But could it ever be a real currency??? mehhhh debetable down the line.....Think about it...what is the intrinsic value of a bitcoin? It's the same as collecting limited edition products (FOR NOW).... NOT the same as "currency"
The bottom line: Bitcoin is genuine enough currency (again for NOW & quickly gaining steam) to have created apparent instant millionaires with an insignificant amount of capital....to face facts it's the next big collector's (again not Currency YET) item & for some odd reason everyone (well not everyone) wants a piece of it.
Check This LINK
What's interesting is how the central banking systems and the governments they own are going to react. Rest asure at some point They HAVE to react. What happens when BTC market cap reaches 100 billion?
The next stop is 1 trillion. How much is my BTC worth then? I'll pay off my fukking house FFS 
We are currently @ the top of another bubble that appeared to pop the other day, only to rebound right away..... thing is, this will not be going away immediately even if it's a horrendous crash. Too much globally diversified money and infrastructure in it. What if BTC is worth $100K a pop this time next year?
...damn excuse my fantasy fiscal talk......got carried away jerking off to the future!
We know there are only so many bitcoins...so people are hoarding them and driving up the imaginary price.
People with deep pockets (china) are investing into the program, driving the price up even further.
It's getting harder and harder to mine bitcoins, many people probably spending $1,000's of dollars and may mine a few coins in a years time.
There is no safety net. You toss a hard drive into the trash, you have a power surge, your account gets hacked...nobody.will.back.you.up. There is no FDIC, there is no police report that can be taken. The value of the bitcoin is purely a value to those who want to collect bitcoins. Bitcoin could be priceless, but only to the enthusiast I suppose.
Will people take them? Eventually yes...I mean on paper it looks like it's valued immensely. But could it ever be a real currency??? mehhhh debetable down the line.....Think about it...what is the intrinsic value of a bitcoin? It's the same as collecting limited edition products (FOR NOW).... NOT the same as "currency"
The bottom line: Bitcoin is genuine enough currency (again for NOW & quickly gaining steam) to have created apparent instant millionaires with an insignificant amount of capital....to face facts it's the next big collector's (again not Currency YET) item & for some odd reason everyone (well not everyone) wants a piece of it.
Check This LINK
What's interesting is how the central banking systems and the governments they own are going to react. Rest asure at some point They HAVE to react. What happens when BTC market cap reaches 100 billion?
The next stop is 1 trillion. How much is my BTC worth then? I'll pay off my fukking house FFS We are currently @ the top of another bubble that appeared to pop the other day, only to rebound right away..... thing is, this will not be going away immediately even if it's a horrendous crash. Too much globally diversified money and infrastructure in it. What if BTC is worth $100K a pop this time next year?
...damn excuse my fantasy fiscal talk......got carried away jerking off to the future!
Last edited:
heisenburrr
Have Fun Staying Poor
I bet some of ya'll up in this thread are like --->
Jokes aside for the new blooded BTC enthusiasts just remember some key points of what you are getting involved in as its not as simple as buying,selling & flipping;
We know there are only so many bitcoins...so people are hoarding them and driving up the imaginary price.
People with deep pockets (china) are investing into the program, driving the price up even further.
It's getting harder and harder to mine bitcoins, many people probably spending $1,000's of dollars and may mine a few coins in a years time.
There is no safety net. You toss a hard drive into the trash, you have a power surge, your account gets hacked...nobody.will.back.you.up. There is no FDIC, there is no police report that can be taken. The value of the bitcoin is purely a value to those who want to collect bitcoins. Bitcoin could be priceless, but only to the enthusiast I suppose.
Will people take them? Eventually yes...I mean on paper it looks like it's valued immensely. But could it ever be a real currency??? mehhhh debetable down the line.....Think about it...what is the intrinsic value of a bitcoin? It's the same as collecting limited edition products (FOR NOW).... NOT the same as "currency"
The bottom line: Bitcoin is genuine enough currency (again for NOW & quickly gianing steam) to have created apparent instant millionaires with an insignificant amount of capital....to face facts it's the next big collector's (again not Currency YET) item & for some odd reason everyone (well not everyone) wants a piece of it.
Check This LINK
What's interesting is how the central banking systems and the governments they own are going to react. Rest asure at some point They HAVE to react. What happens when BTC market cap reaches 100 billion?
We are currently @ the top of another bubble that appeared to pop the other day, only to rebound right away..... thing is, this will not be going away immediately even if it's a horrendous crash. Too much globally diversified money and infrastructure in it. What if BTC is worth $100K a pop this time next year?
IMO the bitcoin has intrinsic value. The value of a public ledger is truly an innovation that cannot be tossed aside
heisenburrr
Have Fun Staying Poor
I have heard good things about https://www.vaultofsatoshi.com/
Right now, the easiest way IMO remains https://localbitcoins.com/
heisenburrr
Have Fun Staying Poor
http://www.forbes.com/sites/danreich/2013/12/03/bitcoin-and-the-two-things-you-need-to-know/
Good short article about the potential revolution that is the public ledger offered by Bitcoin/cryptocurrency
Good short article about the potential revolution that is the public ledger offered by Bitcoin/cryptocurrency
That was three weeks ago.
Everytime i say i missed the chance to get in bit coin it does some more quantum leap bullshyt
It jumped to $1200 recently which is a really sharp climb compared to its previous growth. That's quadruple. The Dec. 1 one-day $200 drop is interesting.
Prodigital
All Star
Too many people manipulating the market now, I think when it first hit 800 it was the time to get in. That was after the US fed held their meeting.
The problem now is people with like 100 or so coins can easily eat up your 5-10 in a single investment. The market is fuked for getting money, but its still a tech of the future
heisenburrr
Have Fun Staying Poor
right, unless it goes down again. if you invest now in bitcoin, it is because you somewhat truly believe in its potential and making a long term (still risky) investement
I am kicking my self for not getting in when i said i would (when this thread was created) is it too late? 
-DMP-
-DMP-
I feel I lost already.
I don't wanna be on the outside of a currency revolution... but I don't want to NOW purchase and bid for some inflated ass shyt.
I hope this shyt fukks up on yall. Gets hacked, etc... I hope China keeps buying up the bcoins then does some fukk shyt! I'm being a hater..
I don't wanna be on the outside of a currency revolution... but I don't want to NOW purchase and bid for some inflated ass shyt.
I hope this shyt fukks up on yall. Gets hacked, etc... I hope China keeps buying up the bcoins then does some fukk shyt! I'm being a hater..
I'm about to buy $500 worth of lite bicoin and see what happens 
heisenburrr
Have Fun Staying Poor
So is it a currency or a commodity?
it can be both, but we dont expect dumb ass like you to get it
heisenburrr
Have Fun Staying Poor
I'm about to buy $500 worth of lite bicoin and see what happens
After much reading, I don't believe there's a place for more than one major cryptocurrency.
All the others are pure speculation