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

[heisenburrr]

It has lost about $900 in value over the past few months. That's a lot of weak hands.



I know you think Bitcoin has a long-term future as a payments system, as do I, but you're treating it as an investment right now, and you're violating major rules of investment. Don't get attached. Don't get emotional. And most importantly, don't try catching a falling fukking knife.

99.9% of the people here don't have a clue what they are talking about. Uninformed idiots making statements without anything backing them up irritates me. If you invested last year at the same time it would still probably be the best investement you have made in your life.

Indeed there is a LOT of weak hands. because most people got in on the way up to 1,100 without doing proper research on what they were getting into. These are the ones getting out right now, the ones who don't understand the fundamental breaktrough of the blockchain technology.

Because Bitcoin's future is MUCH more than a payment system. I am not arguing here whether or not people should invest or HOW they should invest into Bitcoin because frankly the investement is secondary to what is really going on.

Ya'll keep discussing the daily price while I'm watching a revolution take place

 

[heisenburrr]

It has lost about $900 in value over the past few months. That's a lot of weak hands.



I know you think Bitcoin has a long-term future as a payments system, as do I, but you're treating it as an investment right now, and you're violating major rules of investment. Don't get attached. Don't get emotional. And most importantly, don't try catching a falling fukking knife.

you are all the ones treating this as an investement by the way. I have made several posts pertaining to the growth of the ecosystem. all you see is a price ticker

 

[heisenburrr]

Its main value is the payment system, says Bill Miller, Legg Mason Opportunity Trust, discussing his purchase of the digital currency.
Legg Mason's Bill Miller may have lost 20 percent of his investment in bitcoin, but he's still bullish on its potential. The money manager told CNBC on Thursday he bought into the cryptocurrency after its biggest exchange, Mt.Gox, collapsed earlier this year.

Miller, chairman and chief investment officer at Legg Mason Capital Management, said bitcoin makes sense when investors look at its risks versus rewards. The payoffs would be huge if the digital currency can obtain a small fraction of gold's market share, he said.

Bitcoin prices exploded last year just past $1,100 only to hit several potholes in recent weeks. Bitcoins traded at $410 on Thursday morning, according to exchange bitstamp.net.

"You can't go buy anything with gold today in the United States," Miller said on "Squawk Box." "If it becomes only 10 percent as popular as gold, then it's an $800 billion market value. You can lose 100 percent of your money, or you can make 120 times your money. I think the risk reward is OK."

http://en.wikipedia.org/wiki/Bill_Miller_(finance)

Look ! Another bag holder !

 

[heisenburrr]

http://www.bloomberg.com/video/bitc...bitangels-founder-3oQaecltQBKKJTdYIQv6UA.html

 

[heisenburrr]

 

[heisenburrr]

Keep your eyes on the scoreboards, smart people watching the game

The thing about Bitcoin is that Bitcoin’s like this global system. What service was your first email account on?

BI: AOL.

FW: Good. I was afraid I was going to date myself. In the early days, you would have AOL email, or Compuserve email or Prodigy email. Then SMTP came on as this underlying protocol and all of a sudden, if you are on AOL, you could email someone who was on Prodigy. It changed everything.

The thing about Bitcoin is Bitcoin is like SMTP, so you have the Chinese banking system and you have the German banking system, which is really the EU now, and you have the Brazilian banking system and you have the U.S. banking system. They all kind of sit on top of Bitcoin, but if you want to do Bitcoin in the United States, you’ve got to use a Bitcoin provider that’s connected into the U.S. banking system or there’s no way for you to get your money in and out of Bitcoin.

What’s happened is, these companies that have gotten built up on top of Bitcoin tend to be geography-focused. So Blockchain.info is really Western Europe-focused and BTC China is focused on China and Coinbase is focused on the U.S. What’s interesting about Coinbase is they have a million customers in the United States, so it’s not even a global customer base. If they go to Europe, which I hope that they will do, they could potentially double in size just by opening up a new market for them.

I just really like the technology of Bitcoin. The thing that I believe in more than anything is that when you have technologies that open up markets, lots of good things happen.

The thing that was always amazing about the Internet is that anybody could put a Web server on the Internet and then anybody anywhere in the world could open up their browser and connect to that Web server and nothing else had to happen. That was the only thing that had to happen. Bitcoin’s kind of the same way. It’s a completely open system. Nobody controls it. It’s not owned by a company. It just is. It’s Bitcoin.

I think as a platform to build stuff on, the way that the Internet was in the early ‘90s, it’s just amazing. I think the architecture with these blockchains is going to get replicated for lots of different applications. It won’t be Bitcoin. It’ll be Namecoin for identity, it’ll be Mastercoin for exchanges. There’s all these new blockchains that are coming up that support different use cases. I think this architecture is really, really important. That’s what got me excited about it.

Read more: Fred Wilson Interview - Business Insider

 

[ill]

This kid is still cheerleading for BTC on his $100 profit

 

[Stealth]

So i know bit coin is currency used for buying shyt or anything on the internet...

but is the reason why its pretty popular rn because of the investing potential or because of the fact that its a untraceable currency with no middle man

@heisenburrr

 

[heisenburrr]

So i know bit coin is currency used for buying shyt or anything on the internet...

but is the reason why its pretty popular rn because of the investing potential or because of the fact that its a untraceable currency with no middle man

@heisenburrr

it is not untraceable. in fact, it is highly traceable.

as for the rest, lemme juste copy/paste this reddit comment I just stumbled upon which makes it pretty clear why it is so popular

Here is an asset class that potentially makes 200b market cap payment associations obsolete, can't be confiscated and is a great store of value, replaces international money service businesses, and creates the ability for microtransactions for tiny purchases impossible under paypal or payment networks.

Oh, and it potentially eliminates central banks, that suck 6% of global GDP as dividends.

And it has a market cap under 5 billion and just went through a massive capitulation.

in short, it has more upside as an investement than possibly anything in history.

as for the technology and to better understand its capacities, read my post, 2 post above

 

[Stealth]

it is not untraceable. in fact, it is highly traceable.

as for the rest, lemme juste copy/paste this reddit comment I just stumbled upon which makes it pretty clear why it is so popular



in short, it has more upside as an investement than possibly anything in history.

as for the technology and to better understand its capacities, read my post, 2 post above

so pretty much, people are using this more for a investment then actually using it to buy shyt

..correct?

 

[Liquid]

so pretty much, people are using this more for a investment then actually using it to buy shyt

..correct?

At this time? Definitely, but more sites are starting to accept crypto currencies. People are spending more...just a slow growth in that area since many are just waiting for that $1000 a coin value to hit again.

The real value will be in 5-10 years if these cryptos don't LOSE value. That is the key to this all

 

[heisenburrr]

so pretty much, people are using this more for a investment then actually using it to buy shyt

..correct?

yes. because people recognize the potential.

the usage as a currency (which is btw only a fraction of the many functionalities of the blockchain) is a chicken and egg problem. more merchants need to accept it for people to use it but more people need to use it for merchants to have incentive to accept it.

no one is saying Bitcoin, the currency is perfect at the moment. but that doesn't stop bitcoin, the technology, the blockchain,from being a revolutionary platform onto which many applications can be created

 

[Kritic]

This kid is still cheerleading for BTC on his $100 profit

i made $5,000 from dec to feb off $50-100 profit off bitcoin hardware. when the banksters crashed mt gox about a month ago i tapped out and moved on to buying and selling other things.


http://www.thecoli.com/threads/bitcoin-200.157550/page-35

i figured i might as well get in and eat a little bit before the crash. everytime i see this thread upped i peep to see whether situation improved..
----------------------



this thread inspired it.

 

[Stealth]

yes. because people recognize the potential.

the usage as a currency (which is btw only a fraction of the many functionalities of the blockchain) is a chicken and egg problem. more merchants need to accept it for people to use it but more people need to use it for merchants to have incentive to accept it.

no one is saying Bitcoin, the currency is perfect at the moment. but that doesn't stop bitcoin, the technology, the blockchain,from being a revolutionary platform onto which many applications can be created

Thanks for all the info learned a lot. I'm a amateur when it comes to bit coin, but i can i tell its going to big. One more Q, what is MT Govt? Why was it so important to bit coin? Was it like a bit coin bank?

 

[Liquid]

Thanks for all the info learned a lot. I'm a amateur when it comes to bit coin, but i can i tell its going to big. One more Q, what is MT Govt? Why was it so important to bit coin? Was it like a bit coin bank?

Mt Gox was only important because it was the first exchange and really set an initial value of the crypto.

It's a good thing that it's gone.