Official CryptoCurrency Thread (Bitcoin, Litecoin, Ethereum & More)

[irishfury]

Anyone can sound "legit" online. All anyone has to do is cut and paste from Google searches to make it look like they know everything about the NBA.
What you want to do is not invest in bitcoin. Do your research. You are better off investing in energy stocks.

I would just like to say. Proof is in the pudding. If you or any one else would have taken the time to invest when I started this. You would have made.
Price was at $220 at $215 right now so lets use that.

If you invested $1000
You would have made $75 dollars

If you invested $10,000
You would have made $750

If you invested $100,000
You would have made $7,500

So you would have already made 7% on your money in two days. Also legit online? LOL I have helped people here. People have spoken with my business partners from this site. I have also paid thousands of dollars to certain poster here for contract work.

 

[irishfury]

What is the demand for bitcoin?

This is easy. A money transfer method that is anonmouys and doesn't take a large percentage like Credit Cards/Western Union etc.

If you wanted to sell me a xbox one for $500 dollars. I use paypal and they take 3%. So you lose 15 dollars on the transaction. You send me bitcoins and I sell instantly and keep that 15$.

 

[irishfury]

http://www.vanityfair.com/online/daily/2013/04/logic-problems-bitcoin-bubble

lol you do realize that article is from April? Bitcoin has been growing now for 3 years. I can find 100 of articles from econ majors going the other way. Instead of a place that is refering to economics from the 1600's.

So your saying if you invested 10k when this thread was started and made almost 1,000$ in two days that was a bad investment? Cause I'm damn sure you didn't make 1000$ from your job. Especially if you think the dollar was backed by gold lol.

 

[irishfury]

Update since last post

If you invested $1000
You would have made $100 dollars

If you invested $10,000
You would have made $1000

If you invested $100,000
You would have made $10,000

LOL hustling backwards.

I made $1,200 since last post how much did you make off your stocks and great investments in the same amount of time?

 

[Brown_Pride]

These dues aren't getting it.

It's one side trying to convince people that it's the next big thing and the other trying to compare it to a Nigerian prince scam which shows a lack of depth.

Both sides are only 50% right.

I literally bought some shyt off of SR a few months ago. Using the only method you can, BTC. I wasn't scammed, I didn't lose any bread, I made my purchase and received my order. That in itself means BTC is not a ponzi scheme so stop saying it, it sounds stupid.

BTC is to conduct transactions as anon as possible (well as anon as possible considering the state of privacy in the world in 2013) and purchase things that you would not normally be able to purchase with tangible currency.

I REPEAT...IF YOU TRY TO USE THIS TO COME UP ON SOME I'MA PUT $5,000 IN THIS AND WATCH IT BUBBLE, YOU ARE A FOOL.

That's not going to happen. It's not. At most, you can make bets with Bitcoin and hope that the value of BTC does'nt plummet the very next week or something. That's not a ponzi scheme, it's just an incredibly risky thing to invest in.

Yes, in major metropolitan areas (NY, LA, Seattle, Philly, etc.) BTC can be used for a variety of things. No you will not be able to by a car with BTC, don't be stupid, it's crypto-currency whose value is not based on anything but an algorithm. But don't say you can't do it when there are literally thousands of businesses accepting the shyt right now.

For a lack of better term...it's a form of legal but volatile money laundering. THAT is why the US government has an eyebrow raised because yes, theoretically a dude can cop a gun with it and via a few simple steps, can acquire it and be relatively anon. Or buy drugs as seen with the SR situations. Also, in theory, yes you COULD make lots of money off of this and have that profits be completely untracable and untaxable.

BUT THE BTC EXCHANGE IS INCREDIBLY VOLATILE. Which means this could all collapse and be worth nothing tomorrow. Or the day after that. Or next week. Who knows.

Use it to buy things. Use it to gamble. Do not use BTC as an investment instrument.

This is basically how I feel about this. Well said.

What is the demand for bitcoin?

don't know, but there is one or it wouldn't be on our lips right now. What that demand will be tomorrow is still unknown.

 

[irishfury]

This is gonna be one of those revisit down the line things.

And I'm sure people will lose bread because again, BTC is NOT FOR INVESTING.

There are a number of things you can use it for, mainly changing legal tender into a less traceable form of bread. The minute you start trying to come up or some shyt, you are destined for failure.

Use it to buy things you could not normally purchase. Don't put your fukking savings into it.

Also, there are shops in the UK and Germany that take BTC.

Exodus I would agree with you. Never invest more then you can lose. Its like that in stocks etc.

With bitcoin the point is making money quick at the moment. For instance. I started back when bitcoins where cheap. Put $2,000 when they where 20$ sold at 200 during the first surge.

Re-bought 10k when at 67$ and flipped during some up and downs. So no matter what I can never go below my original investment. I have grown a $2,000 dollar investment into 400+ coins.

I have my original $2,000. So even if bitcoin crashed I would lose nothing. If you would have bought when this thread started 2 days ago. Put 50k in. Pulled your 50k today. You would have 23 Bitcoins right now in the market.

So you have your original investment back already and 23 bitcoins to ride the wave at no cost to you. If bitcoin crashed in a month you lost nothing If bitcoin hit $1000 per coin you got 23,000$ of your investment in 2 days. Or you could cash that out right now and still made $5000 profit in two days.

You can also buy cars/homes etc with bitcoin.

https://www.bitmit.net/en/shop/c/16-cars-amp-vehicles

I've met very few men that have gotten rich working for money. I've met many men that have gotten rich making there money work for them.

 

[irishfury]

Yo @irishfury I believe you breh. Help me get to the promised land I don't have the slightest idea of how to get started on something like this.

You got some info on dropshipping too?

Yes send me a pm. I have tons of stuff on Droppshipping.

 

[unit321]

lol you do realize that article is from April? Bitcoin has been growing now for 3 years. I can find 100 of articles from econ majors going the other way. Instead of a place that is refering to economics from the 1600's.

So your saying if you invested 10k when this thread was started and made almost 1,000$ in two days that was a bad investment? Cause I'm damn sure you didn't make 1000$ from your job. Especially if you think the dollar was backed by gold lol.

All speculation.

 

[irishfury]

All speculation.

Your truly the most dense person I have ever had the pleasure of talking with. First your uneducated about the US dollar. Second I have proven you wrong every point you have brought up. That you can get a taxi cab. You can buy almost anything with bitcoins. Lastly your telling me it was a bad investment when I started this thread when anyone who would have invested when I started this thread you would have made a 12.5% profit on your investment in 48 hours.

So clearly if you spent the time you did arguing with me with something you clearly have no idea or education in you could have made thousands of dollars and cashed out 12% richer. From my educated guess you probably don't have enough money to invest anyways.

 

[LordTaskForce]

irishfury you're really drinking the koolaid. its not meant to be used for investing.

Put all your money in an volatile "currency" brehs

 

[newarkhiphop]

lol @ yall thinkin for a second irish dont know what he talkin bout , him and @PewPew know there internet money making shyt

 

[irishfury]

irishfury you're really drinking the koolaid. its not meant to be used for investing.

Put all your money in an volatile "currency" brehs

Not meant for invest? I put $2,000 in already have my 2,000 out. I now have 400+ coins.
If you "Lordtaskforce would have invested when I started this two days ago" that investment would have you at 13% profit where you could have cashed out with 13% more money.

Please show me another investment that made you 13% in 48 hours I will be waiting.

If you plan on long term investing in bitcoin do no more then you can afford to lose. Short term investing is the gravey train.
I'm drinking no Koolaid. I just know now that I put $2,000 and now have $90,000 worth of coins in a cold storage.

I'm sure you could use $99,000. If bitcoin crashed I've lost nothing. If bitcoin hit $300 I will probably sell a 1/4 add that to stash then ride the wave as I'm not worried about the gamble as I'm more focused on my online businesses.

 

[ill]

@ExodusNirvana has the most logical and seemingly unbiased view in here.

@irishfury just because you got lucky and got in early doesn't mean you're going to keep making money. Your won't lose anything argument is moot cuz you can still lose your profits. Just cuz you don't lose your principal investment doesn't mean you don't lose money.

I respect your hustle game and know you work hard so I'm not hating but you have an unrealistic view of the risk involved. Whats gonna happen when you re-up and put $100k in and the next day the Feds say they are blocking US traffic to BTC sites? The BTC will plummet 80% that day and you'll be fukked. There's no safety nets with virtual currency. If someone were to crack the algo or find a more efficient way to mine BTCs then they could flood the market with supply thereby killing demand and the currency rate. What happens if your moneys in BTC but a new more secure and anon currency comes out and everyone switches over before you cash out?

Lastly, BTC has gone up $100 in the last month or two. Looking at the chart I'd bet on a crash back to $160 within the month.

 

[irishfury]

@ExodusNirvana has the most logical and seemingly unbiased view in here.

@irishfury just because you got lucky and got in early doesn't mean you're going to keep making money. Your won't lose anything argument is moot cuz you can still lose your profits. Just cuz you don't lose your principal investment doesn't mean you don't lose money.

I respect your hustle game and know you work hard so I'm not hating but you have an unrealistic view of the risk involved. Whats gonna happen when you re-up and put $100k in and the next day the Feds say they are blocking US traffic to BTC sites? The BTC will plummet 80% that day and you'll be fukked. There's no safety nets with virtual currency. If someone were to crack the algo or find a more efficient way to mine BTCs then they could flood the market with supply thereby killing demand and the currency rate. What happens if your moneys in BTC but a new more secure and anon currency comes out and everyone switches over before you cash out?

Lastly, BTC has gone up $100 in the last month or two. Looking at the chart I'd bet on a crash back to $160 within the month.

Awwww this is where your wrong. People calling it luck the same bitter people mad at wall street. No such thing as luck. Hell if people would have listen to me at the start of this thread 48 hours ago they would have made 13 cents on every dollar they spent...Was I lucky again or just know what I'm talking about?

I have made money at all phases. During idiots panic selling. Watching the news. Knowing how human emotions work. I've bought and sold for this whole process. When it dropped to 67$ hopped on that shyt. If you have any brain what so ever you can make money. Where you call bitcoin a crash to $160 again. What you call crash I call "opportunity". Also again the only thing that can crack bitcoin would be quantum computers. Right now every computer in the planet can't break current encryption. I did network engineering for public safety and homeland security in the wifi 4.9ghz spectrum. I know all about encryption and how it works.

Also you forget bitcoin is not like money. Where you can just print more of it. Bitcoin is a finite supply. Only 12 Million bitcoins exist. Bitcoins can be broken down to the 8th decimal. So over half the bitcoins out have already been mined. If you don't think the best hackers on the planet haven't tried in three years with 2 billion dollar market sadly mistaken.

 

[ill]

Awwww this is where your wrong.
I have made money at all phases. During idiots panic selling. Watching the news. Knowing how human emotions work. I've bought and sold for this whole process. When it dropped to 67$ hopped on that shyt. If you have any brain what so ever you can make money. Also again the only thing that can crack bitcoin would be quantum computers. Right now every computer in the planet can't break current encryption. I did network engineering for public safety and homeland security in the wifi 4.9ghz spectrum. I know all about encryption and how it works.

Also you forget bitcoin is not like money. Where you can just print more of it. Bitcoin is a finite supply. Only 12 Million bitcoins exist. Bitcoins can be broken down to the 8th decimal. So over half the bitcoins out have already been mined. If you don't think the best hackers on the planet haven't tried in three years with 2 billion dollar market sadly mistaken.

Fair enough. So what happens if the feds block access to any and all BTC sites?