coins

[Anonymous No.315362]

When will this torture end?

[Anonymous No.315368]

>>315362
The age of coins is coming to an end. As it turns out, Bitcoin won't go down in a flaming car crash like everyone expected - it will just slowly fade out into irrelevance.

[Anonymous No.315374]

It'll end once BTC is completely forgotten and trading at around maybe 1 USD/BTC.

[Anonymous No.315393]

too bad op, cryptos are dead

[Anonymous No.315407]

>>315368
>>315374
>>315393
>being this mad about not making the initial train

Theres still time, guys. You'll really hate yourselves once it goes mainstream and prices skyrocket. For BTC and other alts.

The down trend is completely calculated, OP. Just look at the graphs. It'll start its way back up by mid summer probably. Buy is another week when it hits its low.

[Anonymous No.315408]

>>315393
>too bad op
You know that this board has IDs enabled, right?

[Anonymous No.315411]

>>315393
>>315408
AHa, faggot.Good catch mate

[Anonymous No.315415]

>>315407
Nope, not mad at all. I make plenty of money on real investments. Have fun with your dying commodity.

[Anonymous No.315418]

>>315407
>>being this mad about not making the initial train

Btcultist really are this deluded.

>>315362

The suffering will end when btc reach .01 cents ea. You'll be free then.

[Anonymous No.315419]

>>muh bitcoins are only worth $400 they're worthless!

[Anonymous No.315423]

>>315418
>Btcultist really are this deluded.

I mean you did miss a chance to make a stupid amount of money

[Anonymous No.315425]

>>315407
>buy in a down trend

[Anonymous No.315427]

>>315419
They're not worthless (yet), but they'd be a terrible investment. Just because something is trading at >1 USD/unit, doesn't mean that it's good.

[Anonymous No.315433]

>>315423

Add it to the list of 1000 other chances to have made a ton of money. I could have made money on google, apple, ect, but those would have been good choice instead of this cultist fad. Btc have been dropping for the past half year or so. Most of you cultist are losing money, and that's why you're so desperate to try to get the price back up. You're greedy self serving shills.

[Anonymous No.315442]

>>315433
This happens every time Bitcoin hits a new all time high

[Anonymous No.315446]

>>315442
Past returns not necessarily indicative of future performance. It got really popular but now the novelty is wearing off.

[Anonymous No.315449]

>>315446
I guess but there are a lot of new services coming out for Bitcoin, even in this downtrend. I wouldn't call it "hype" or a "novelty"

[Anonymous No.315453]

>>315449
New services won't mean anything if it doesn't increase transaction volume or adoption. I still maintain that BTC is a solution looking for a problem.

[Anonymous No.315457]

>>315453
Idk man, I love Bitcoin. I keep a bank in my pocket at all times.

More services = more ways to spend

But yes transaction volume is mostly dependent on speculation at the moment.

[Anonymous No.315510]

all those people who think the coins will die.

[Anonymous No.315512]

>mfw people aren't buying in preparation for the obvious next bubble

[Anonymous No.315516]

>>315512
>pyramid schemes never collapse!

[Anonymous No.315517]

>>315516
Stay sour grapes ;^)

[Anonymous No.315523]

>>315516
its almost like you hate technology. You probably wouldnt have invested in the home computer or internet because you didnt see a "market" for it.

Whatever, live your life in regret, i guess.

[Anonymous No.315530]

>>315523
Did you invest in the dotcom bubble?

[Anonymous No.315536]

>>315516
Learn what a pyramid scheme is please

[Anonymous No.315540]

So aside from OP actually being a complete idiot, bitcoiners are really going to need to wrap their heads around the possibility that bitcoin can both be widely used and supported in many technical and social arenas, and be really goddamn cheap at the same time. I sincerely think there's a good chance that bitcoin will be sub-$100 in a year or two.

All of which is to say that bitcoiners can still have their smash-the-state cultlike frothing at the mouth which they hold so dearly, but they just won't get rich (again). And though I feel dearly for those people who bought in at a thousand bucks and simply will not sell, I think there are more rational people who will continue to use bitcoin for it's utility and coolness factor even when the price drops really low. Good for those people!

You read it here first: prepare for a paradigm shift in the bitcoin userbase as the price continues to drop. They will find other things to love about it.

[Anonymous No.315545]

>>315540
>can both be widely used and supported in many technical and social arenas

So it will grow in use and popularity, but decline in value?

Check yo logic nigga

[Anonymous No.315547]

>>315545
maybe people will buy them, but never use them.

[Anonymous No.315551]

>>315362

[Anonymous No.315553]

>>315545
market correction

[Anonymous No.315556]

>>315553
10x drop is a correction?

[Anonymous No.315565]

>>315545

Yes. This is basic economics. Time for a lesson in the quantity theory of money, everybody!

M*V = P*Y

In other words, the quantity of money (M) times the velocity of money (V) equals the price level (P) times the real value of goods and services (Y), or alternatley, PY is nominal value of goods and services.

For Bitcoin, PY is the dollar size of the "Bitcoin Economy", ie everything that can be bought and sold for BTC, and M is the value of a BTC/USD. V would represent the rate at which a Bitcoin moves through the Bitcoin economy.

The fundamental problem with Bitcoin as an investment is that most traditional "estimated" of the potential value of M (through, say, the Winklepenises) rely on the assumption that V is similar to the V in the aggregate economy, where payments take days and money is non-volatile and stored in relatively safe, non-fluctuating currencies like dollars and euro. But this is all wrong- because BTC is so volatile, everyone has an incentive to throw it around like a hot potato, and services like BitPay that autoexchange for dollars in minutes or less mean that V is enormously huge, vastly larger than in any "sensible" economy. A payment can be processed in around an hour versus five-ish business days for ACH, meaning that even just using that as a crude proxy, V_B ~= 100*V_$

This necessarily implies that M must be much, much lower- even if half the economy were in Bitcoins and the other half were in dollars, something not even the most rabid of BTC bulls think reasonable in the next decade, a Bitcoin's far value would be around $0.01 due to the velocity.

This is why Bitcoin's volatility will eventually kill it off, or at least cause it to correct to a value of a few cents a Bitcoin- it doesn't need to have any huge value in order to be a sustainable payments system.

Now do you fuckers understand?

[Anonymous No.315585]

>>315565
Dont say stuff like this. Bitcoinshills like to tell you about how great the technology is and how much mainstream adoption it will have but all they really care about is the value because they are trying to resell it and get rich. By telling them that it can have wide adoption yet 1 bitcoin still be relatively worthless you are bursting their bubbles. With all their high principles and talk of the corrupt Fed, behind all of it they are just plain old greedy. Telling them them the most likely possibility is that Bitcoin will trade under a dollar hurts their Jewish sensibilities.

[Anonymous No.315588]

>>315565
>a few cents

HAHAHAHHA

[Anonymous No.315593]

>>315585
I don't think we have to worry about that. Bitcoin will never have wide adoption.

[Anonymous No.315608]

>>315362
>When will this torture end?
Now.

http://bitcoininvestmentgroup.wordpress.com/

[Anonymous No.315625]

>>315565

I'm terribly sorry, I fucked up the math. In the hypothetical scenario, I mistakenly assumed that the numerical quantity of Bitcoins was equal to the numerical quantity of dollars, forgetting about the cap at 21m. Redoing the math to account for this, in the event that Bitcoin replaces dollars for half the entire US economy, then the fair value dollar for one Bitcoin is a little under $700.

The math on this is (U.S. M1)/2*(V_$/V_BTC)*(1/N_BTC) = ($2.78tn)/2*(1/100)*(1/21mm) = $662.

Of course, such a idea is ludicrous. If we more realistically assume Bitcoin steals half of market share from places like Western Union and other such payment serves, which process an aggregate of around $80bn per year, or PayPal, around $50bn per year, then the price of a Bitcoin is in the mid to low teens, around $15.

This still represents a 95% loss of value for current investors, and a 99% loss for people who bought in at the peak, so it still has a long way to fall in this optimistic scenario, and all the neckbeards hoping that their 10k in Bitcoins will make them millionaires are going to lose a lot of money.

[Anonymous No.315632]

It already had it's go in the mainstream. Hipsters bought Bitcoins to feel cool, unique and edgy, a few businesses started accepting it, this lead it to go over 1000$. Now the novelty wore off, people got burned, media will love saying how dangerous and volatile it is. It might regain value but especially with all the alternative coins, no single one will be worth as much as the Bitcoin at it's peak.

Now the one rule I have learned in the pennies is that when something isn't moving, dump the fuck out of it and move to something else. Plenty of money to be made elsewhere with a much better risk/reward.

Still kicking myself not to have hoarded some when I first saw them in the deep at less then 10$, but now they are irrelevant.

[Anonymous No.315666]

>>315625
Wow what the fuck. Do you even know about Metcalfe's Law?

[Anonymous No.315677]

>>315666
What's funny is that people were using Metcalfe's Law for the Dotcom bubble and look how that turned out. Of course Andreessen is going to try to push Metcalfe again, he has a huge stake in Bitcoin startups. Even Metcalfe has said there are limitations to his calculations.

[Anonymous No.315685]

>>315677
It's supply and demand either way. I just want to say I attended the MIT Expo today and Bitcoin was regarded as being still early in the 'early adopters' phase. I should not need to remind you to say whatever you were doing there should be taken with a grain of salt as well.

[Anonymous No.315691]

>>315685
>regarded as being still early in the 'early adopters' phase
Regarded by whom? If you go strictly by trading volume there has only been waning interest for the last half a year.

>whatever you were doing there
Look at the IDs

[Anonymous No.315703]

>>315691
Sean Neville.
>waning interest

[Anonymous No.315726]

>>315703
Right. Because the CEO of a business revolving around the success of Bitcoin is an unbiased source about Bitcoin.

[Anonymous No.315740]

>>315726
>muh conflict of interest
didn't say it wasn't but they have a point, you can't be certain a theory of all things applies to something as divergent as Bitcoin

[Anonymous No.315774]

>>315726
That's not a conflict of interest, though. A conflict of interest would be if an executive bought an assload of puts on his own company.

Somebody promoting something they have a financial stake in without regards to the fundamentals is generally referred to as "shilling".

[Anonymous No.315809]

>>315774
I didn't even say it was a conflict of interest because I knew someone would argue with me on semanitcs. I was just implying that you can't put much credibility in someone who makes future predictions of Bitcoin if he is the CEO of a company that has a vested interest and that company is dependent on Bitcoins success.

[Anonymous No.315823]

>>315809
should have discussed this during the Q&A

[Anonymous No.316260]

Bitcoin Stats:

>Market Cap:
12,726,050 BTC
or 5,444,191,464 USD
or 4,005,524,238 EUR
or 17,192,893,550 PLN
or 3,289,683,925 GBP

>Transactions last 24h
53,096
>Transactions avg. per hour
2212.33

>Bitcoins sent last 24h
537,783.37 BTC
>Bitcoins sent avg. per hour
22,407.64 BTC

>Network Hashrate Terahashs/s
58547.13
>Network Hashrate PetaFLOPS
743548.61

[SAGE2THE9k No.316343]

>>316260
According to this graph... http://www.bitcoinpulse.com/chart/coinmap/num_venues/total

[Anonymous No.316373]

i noticed a trend on 4chan for the last 3-4 years

bitcoin rises and shills go: BUY BUY BUY! NOW WORLD CURRENCY
then bitcoin falls and the sour grapes & trolls go: BUTTCOIN IS DEAD! NOTHING BUT MONOPOLY MONEY

[Anonymous No.316380]

>>315625

What if the volatility decreases? Then the value would increase?

The fact is, if Bitcoin went to $1, and remained there, it would become incredibly useful because it would not likely go much lower, so the volatility decreases and all of a sudden it becomes a lot more useful and popular, bouncing the price back up again.

[Anonymous No.316389]

>>315625

Bank of America put the fair value at $1300, so why are you better at valuing this currency than BoA?

[Anonymous No.316424]

>>316260

Most of that is just bitcoin users selling them to each other in order to make a profit and not products being purchased.

[Anonymous No.316443]

>>316389
Well isn't that something. So you mean back last December when Bitcoin was valued at $1200 a coin Bank of America valued it at $1300 a coin assuming it would still go up a bit? What they didn't foresee, however, is that general acceptance would dwindle after the hype wore off and that the last half a year the value would drop to less than a third of its former glory. I would say that is a lot of egg on the face for BofA and they probably wish they could strike that prediction from the internet entirely knowing what they know now.

It is amusing to me that the analysts compared Bitcoin to Western Union (market cap of approx. $9b) and MoneyGram (market cap of approx $800m), yet they put the valuation of Bitcoin at about $5b above both combined. Realistically, I don't think Bitcoin would ever take more than half of the Western Union market considering the bulk of people use Bitcoin for speculation and daytrading and not sending money. Even if Bitcoin did take half of Western Union's market share (which it obviously has not since WU is only down $400m from last December when the Bitcoin hype was at its peak), that would put the market cap of Bitcoin at around $4.5b which is even a billion less than what it is now.

[Anonymous No.316449]

>>316443
Western Union and MoneyGram (and Green Dot for that matter) are getting hit on account of Wal Mart's entrance into the money service business; not because of bitcoin

[Anonymous No.316464]

>>316449
Sorry, I didn't meaning to imply that the decline in market share for Western Union was due to Bitcoin. I was just trying to make the point that if Bitcoin was really being used widely as a payment rail (like BTC promoters would have you believe) this would have drastically affected the market share for Western Union and MoneyGram since they are direct competitors, and the numbers show that it has not. I just don't think very many people are using Bitcoin to send money.

[Anonymous No.316583]

>>316464
>>316464
>I just don't think very many people are using Bitcoin to send money.
>4 year old currency
>pretty much no mainstream infrastructure
HMMMMMMMMMMMMMMM

[Anonymous No.316596]

>>315362
Bitcoin was only ever useful for laundering drug money.

[Anonymous No.316601]

kinda investment noob here

Bitcoin is "supposed" to start bubbling again in july. so if a whale or many people who believe in the bubble buy at that time = the price goes up
the people who doubted the bubble dont want to miss the train and invest aswell = prices goes up

is bubbling that simple or i am missing something ?

[Anonymous No.316716]

>>316601

Why would there be another bubble? Just ask yourself - who doesn't know about bitcoin at this point? Who will buy into it who already hasn't?

This thing that bitcoin always has to have some massive bubble every six months or whatever is just silly. It might, but it might not. I think it's much more likely that a lot of true believers will end up dumping when the price gets down around $300 because they'll finally accept that bitcoin won't be getting to a gorillion dollars any time soon.

[Anonymous No.316744]

>>316716
i feel like there are still a lot people who dont know about Bitcoin or just fogot about it maybe cause of the ukraine crisis.
if the people who believe and hope for the bubble start buying in 2-4 weeks the price would rise. the people who doubt the bubble would rethink and start investing to make some cash. is that how it works ? and what was the start of the 2013 Dez bubble ?

[Anonymous No.316749]

>>316389

Because they're BoA, a company staffed by monkeys and run by clueless morons? Analyst reports from them on stocks aren't worth the paper they're printed on, who why should it be any different for Bitcoins?

[Anonymous No.316763]

>>316749
How do I know you're not just a JP Morgan shill?

[Anonymous No.316765]

Never.

[Anonymous No.316854]

Cryptos are, at least in my opinion, becoming pure gambling. Basically every new coin thats come out and hit exchanges have been transparent pump and dumps. I say this because I refuse to believe that all these people are stupid enough to think that their litecoin derivative #1203 will hit big.

[Anonymous No.316862]

>>316854
babby's first speculative bubble market?

[Anonymous No.316868]

>>316862
Yeah, I guess. Before the endless deluge of new coins that started about a half a year ago, there was actually some reason behind buying these. Now its like roulette.

[Anonymous No.316874]

>>316868
not in my opinion. if you've been on the train that long you should know what makes a coin a shitcoin. certain ones are very obviously not, and haven't even bubbled yet, but you need to baghold for a while perhaps.

[Anonymous No.316916]

>>316854
becoming?

[BUMP2THE9k No.317081]

>>316380
>The fact is, if Bitcoin went to $1, and remained there, it would become incredibly useful because it would not likely go much lower, so the volatility decreases and all of a sudden it becomes a lot more useful and popular, bouncing the price back up again.

And the biggest retard award goes to...

[BUMP2THE9k No.317096]

>>316464
The USD took 50 years before it became accepted in every state and town IN ITS OWN COUNTRY, and it had the full backing of a national army that absolutely slaughtered (and I do mean Tyson-uppercutting-a-newborn-baby level of slaughter) the British Imperial forces at their "Top Ten List of Military Powers in History" peak of strength.

Maybe you nocoins dumbfucks might want to wait a few years, no?

[Anonymous No.317110]

>>315625

This is hilariously wrong, but do continue throwing your calculations around while totally failing to understand what Bitcoin actually is, rather than what you want it to be.

[Anonymous No.317115]

>>315362
If someone wants to mine Bitcoins, fine, although my understanding is nowadays even with the fastest graphics card its not worth it.

And buying Bitcoins is just plain dumb.

Why do Bitcoins have value? I always wondered this so I went to the main Bitcoin FAQs. There is no answer! The answer they give is total bullshit.

They are worthless hashes and it is supposed to have a market cap of $5.5 billion.

It's a giant ponzi scheme. Currencies need to have value. Gold has value. The dollar slowly loses value due to inflation, but the US government would not let the dollar lose half its value in a few months like Bitcoin just did.

Bitcoins are worthless. Only a complete sucker would trade their hard-earned cash for a worthless hash.

Dogecoin shows how silly it all is. It's a joke currency, but supposedly has a market cap of $35 million.

[Anonymous No.317119]

>>316380
>if Bitcoin went to $1, and remained there, it would become incredibly useful because it would not likely go much lower

Tippest toppest lel

[Anonymous No.317121]

>>317115
They don't have value.

Cyptocurrency is just like an artificial commodity for speculation or pump & dump strategies.

If you realize that's what it is, it's just a silly as any penny stocks or commodity day trading shit.

[Anonymous No.317158]

>>317096
So, if we're using that as a benchmark, then how long will it take to adopt a currency that is only useful for buying novelties and drugs, has a history of massive swings, is being squashed out or taxed by national governments, and is valued primarily by currency speculators who are holding most of the currency supply hostage in the hopes that it will *somehow* become widely adopted?

[Anonymous No.317224]

>>315512
update please

[Anonymous No.317271]

>>317096
>had the full backing of a national army that absolutely slaughtered
I think you just defeated your own point when you realized that USD gained widespread circulation because of national backing. There is really no strong impetus for people to use Bitcoin over USD except for a vague inclination that somehow an evil Fed is printing money out of control and inflating USD out of existence (USD inflation has actually been really low compared to other world currencies and has been under the median for at least the last 30 years).

[Anonymous No.317283]

>>317271
Most people value speed and privacy, or no?

[Anonymous No.317309]

>>317283
I would think that once regulation hits businesses regarding Bitcoin and they are forced to keep identifying records linking users with BTC wallets, Bitcoin will probably be less private than using credit cards since the blockchain is a public ledger.

With that being said I don't doubt that Bitcoin (or some other crytpo-currency protocol) will have use as a payment processor in the future, but the valuation should be based on that. Bitcoin (the protocol) as a payment rail, not Bitcoin (the crypto-currency) as a store of value.

[Anonymous No.317321]

>>317309
>I would think that once regulation hits businesses regarding Bitcoin and they are forced to keep identifying records linking users with BTC wallets

But don't you think this would have happened already?

As long as there is a desire for privacy, people will fight for it.

About the public ledger, there's something called "coin-mixing". If you want to hide your 'paper trail' you use a coinmixing service.

[Anonymous No.317325]

>Everybody's arguing about Bitcoin replacing the USD

As someone who doesn't live in America, Bitcoin, or cryptos in general, mean a lot more to me as it's an instant international currency that can be fairly quickly converted into my, or anyone else's, own currency if it needs to be.

[Anonymous No.317347]

>>317321
>But don't you think this would have happened already?
Not at all. Regulation is usually a few years behind any technology because gears turn slowly. It is already in the pipeline, however, with MtGox escalating the need for laws concerning digital currency in the eyes of Congress.

>there's something called "coin-mixing"
I don't deny this is probably useful to some people. The people that care about anonymity are few and far between, however. It has been said a few times here that "Anonymity isn't about hiding behind a shroud, it is about not having to prove your identity". The problem is this isn't practical in the real world. Even Bitcoin exchanges require you to prove your identity because there is a certain element of trust that can be extended when people can verify you are who you say you are.

[Anonymous No.317351]

>>317325
USD is still the world's reserve currency for a reason, because of its stability. I guess other countries can opt out of using USD and start using a volatile digital currency like Bitcoin instead, but why wouldn't you use another stable currency backed by a government like Euros or Yen?

[Anonymous No.317356]

>>317351
I'm just saying, it's easier to digitally send someone Buttcoins that they can then convert into their own shitty currency, sans fees, than it is to send someone USD digitally.

[Anonymous No.317359]

>>317325
>it's an instant international currency
It's not a currency at all.

Gold has been a currency for thousands of years.

Dollars were pieces of paper you could trade for gold at any time until 1971.

Gold actually has value. It can be used to conduct electricity. It can be used to fill teeth. It has a real value, like any other precious metal.

A Bitcoin is a worthless hash. Yes, it can hit a bubble like a tulip bulb, or subprime real estate. Actually, tulip blubs and subprime real estate actually have value. Bitcoins have no value.

People who buy or continue to hold Bitcoins are going to learn a bitter economic lesson of where value comes from.

[Anonymous No.317362]

>>317359
Who said anything about holding it? I just want to quickly be able to make international transactions without massive bank/handler fees.

[Anonymous No.317363]

>>317356
Easier is debatable. Sans fees is debatable, too. In order to convert it into their own currency, they would have to sell it first which (if done online) would incur fees from an exchange.

[Anonymous No.317366]

>>317363
At the moment, if I want to make an international wire transfer using my bank, it costs $20 + their unfair exchange rate, and it takes about 2-3 business days to process. PayPal is quicker, but then they hit you with massive fees and again an unfair exchange rate for larger transactions.

[Anonymous No.317394]

>>317366
All the fees and long transaction times stem from a lack of a universal banking system. Inter-bank and intra-bank transactions are handled differently. If I want to send money from a BofA account to a BofA account the bank transfer is instant with no fees. If I want to send money with a Wells Fargo account to a Wells Fargo account the money is instant with no fees. The problem comes with trying to send money from a BofA account to a Wells Fargo account, which is when transactions times become long and fees are extracted. A lot of this has to do with the system in place to handle inter-bank transactions (but personally I think that some of it also has to do with banks just not wanting you to use another bank).

I would agree that the banking system needs a complete overhaul, although I disagree that Bitcoin is the answer. Right now it takes the same amount of verification to open an account on a Bitcoin exchange as it does to open a bank account. If the argument is that people can send Bitcoin from one wallet to another instantly without fees I can make the same argument that (using the same bank) I can send money from one bank account to another instantly without fees (but not have to convert BTC to USD afterwards).

[Anonymous No.317406]

>>317394
Like I said, I'm outside of the US. I've never had to provide any sort of ID to create an account on a Bitcoin exchange. I've used a bunch in my time, localbitcoins, Mt.Gox, to name a few. I've always just used bank transfers to local accounts (fee-free) to buy bitcoin.

I've created new accounts on localbitcoin and had bitcoin within an hour. no verifications.

Again, I point out how this argument is USD centric. I don't think you realise how useful it is for foreigners.

[Anonymous No.317421]

>>317406
MtGox? MtGox required a photo ID and utility bill, I know this from personal experience. Localbitcoins is the only one that I know of that does not require identity verification but you are taking some amount of risk using them since it is p2p. Localbitcoin was mostly created for people to meet up locally so (to me) it defeats a lot of the purpose of a digital currency. I'm not really trying to dissuade you from using Bitcoin since that is your prerogative but personally it seems way more hassle than it is worth.

[Anonymous No.317424]

>>317421
>MtGox? MtGox required a photo ID and utility bill
In the US. For the third or fourth time, I'm not based in the US. When I was using Mt.Gox back from 2011-early 2013 I simply made bank transfers from my European bank account to their local bank account.

I'm not trying to persuade you, but I'm just saying that Bitcoin and cryptos are useful for those of us that are not in the US and have to consistently pay for services in currencies foreign to our own.

[Anonymous No.317428]

>>317359
>A Bitcoin is a worthless hash.

The Internet is a fad!

E-mail is stupid!

Cell phones are a waste!

Video chat is worthless!

etc. etc.

[Anonymous No.317433]

>>317424
Sorry I am just finding it hard to believe that your neither your bank or MtGox charged you any fees. I will give you the benefit of the doubt though.

As a side note and totally unrelated it isn't actually "Mt.Gox" it is "MtGox" which stands for "Magic the Gathering online exchange". They used the existing infrastructure for an exchange for Magic the Gathering cards and retrofitted it to allow for Bitcoin. At one point in the not so distant past they handled 80% of all Bitcoin transactions. I only bring this up because a lot of people don't know this lol

[Anonymous No.317501]

>>317428
>People will buy everything on the internet, including groceries and shoes!
>The Apple Newton will revolutionize computing!
>Everyone will want a Segway!

[Anonymous No.317519]

>>317501
>not knowing how much 4chan NEETS would love to be able to buy everything online

I bet you've never even bought anything online faggot

[Anonymous No.317532]

I'm still going to use Bitcoin even when it "crashes" and so will plenty of other people

it's better than paypal. I just want ebay to take BTC already and I'll be good

[Anonymous No.317540]

>>317519
You're right, I can't even read.

>implying NEETS have more buying power than normalfags

Maybe bitcoins will crash to $.01 apiece, and only then become a stable medium of exchange when all the horders try to cash out.

I would buy a hundred bitcoins for a dollar, just to fuck around with.

[Anonymous No.317544]

>>317532
> I just want ebay to take BTC already and I'll be good
Realistically this will never happen. Ebay owns Paypal and if Bitcoin is ever widely used as a payment processor it would be a direct competitor for Paypal. Ebay has even gone so far as to restrict sales of Bitcoin on its site and forces you to use its classified ads section if you want to sell cryptos.

[Anonymous No.317550]

>>316601
Your missing the million coins in the satoshi wallet and whatever the fed has stored from fbi raids.

Lotta coins suddenly unleashed could crack the market.

I still say it was a DARPA project

[Anonymous No.317570]

>>317540
>I would buy a hundred bitcoins for a dollar
Same here.

>>317544
That makes me mad I didn't know that.

Fuck Ebay. New Silk Road when??

[BUMP2THE9k No.317703]

>>317394
>If the argument is that people can send Bitcoin from one wallet to another instantly without fees I can make the same argument that (using the same bank) I can send money from one bank account to another instantly without fees (but not have to convert BTC to USD afterwards).


Try opening a BoA account in Asia, Africa, Europe, South America...

Yes, we now know that you a dumbfuck who does zero international business and thinks $100k/year with $1mil in the retirement fund by 50 is a truly amazing performance.

[Anonymous No.317739]

>>317394

The bit about interbank transfers being difficult is actually untrue.

>http://www.frbservices.org/servicefees/fedwire_funds_services_2014.html

Fedwire is instant, irrevocable, and secure, and it's also dirt cheap- the fees are a few cents to send hundreds of thousands of dollars. The fact that BoA charges you $19.99 to send a thousand bucks to WF means that they want to pocket $19.83 of your money, because it cost them 14 cents to do that for you.

Of course, there are some fees, since only giant banks can join Fedwire (otherwise someone could just debit random people's accounts for millions in cash and then skip the country), but the fact is people are paying 10,000% markups for a service because they're idiots who are willing to pay that much, not because the system is flawed in any way.

[BUMP2THE9k No.317741]

>>317433
>As a side note and totally unrelated it isn't actually "Mt.Gox" it is "MtGox"
>MtGox
>domain name
Mt.Gox
>company name
>pic related
>Mt. Saint Helens, Mt. Pinatubo, Mt. Everest
>it is Mt. GOX YOU DENSE MOTHERFUCKER

You have shown yourself, very well, to be a complete fucking idiot who's never used bitcoin and doesn't know fuck all about it. I am deeply offended by how you bring other people's claims into question while providing no evidence of any counter-claim. That makes you an idiot who is also a total asshole.

As an aside, to all my fellow bitcoiners, this guy is your average nocoiner. They do get worse.

[Anonymous No.317760]

>>317703
>Try opening a BoA account in Asia, Africa, Europe, South America...
BofA was just an example used to show how inter-bank and intra-bank transactions work. There are international banks like HSBC which service all of the areas that you mentioned.

>Yes, we now know that you a dumbfuck who does zero international business and thinks $100k/year with $1mil in the retirement fund by 50 is a truly amazing performance.
Lmao that is a lot of projecting going on in one sentence...

[Anonymous No.317771]

>>317739
>and it's also dirt cheap- the fees are a few cents to send hundreds of thousands of dollars.
Thank you for the clarification.

[Anonymous No.317781]

>>317741
Totally wrong. They changed the company name when they retrofitted it for Bitcoin to include the "mt." to imply it was "mountain" instead of "magic the gathering". Sorry to burst your bubble but it was always "magic the gathering".

[Anonymous No.317832]

>>317781
>implying none of us knew that
>implying implications
>implying anyone gives a shill about Mount Goy's name

[Anonymous No.317852]

>>317832
I didn't know that about MtGoy and I think it is hilarious

[BUMP2THE9k No.317877]

>>317781
>Sorry to burst your bubble but it was always "magic the gathering".

Now even your English is failing you.

It USED to be MtGOX, but is now Mt.GOX. Here's see what you originally said: As a side note and totally unrelated it isn't actually "Mt.Gox" it is "MtGox". Your retarded ass thinks the past is "actually" the present. Genius!

Before, I thought you just had bad info, but now it is looking like brain atrophy. See a nutritionist, soon, or buy a bullet.

[Anonymous No.317882]

>>317877
You are arguing with me on semantics. My whole point was that "mtgox" started off as Magic the Gathering Online Exchange and the "Mount" part was added later to mask the real name and the origins of the company. Past, present, and future tenses do not detract from that clear and undeniable fact. You seem very upset from your posts (maybe you were one of the people that lost a lot of money with MtGox and need to vent?). Lol learn to relax a little, you will live longer.

[Anonymous No.317908]

>>317501
The internet is a revolutionary system for storing and sending information

Bitcoin is a revolutionary system for storing and sending money

These two concepts are parallels, Bitcoin does not fall into the category of "hyped products". Bitcoin is not a product. Bitcoin is a way for new and exciting products to exist.

[Anonymous No.317911]

>>317501
I've bought both groceries and shoes from the internet

[Anonymous No.317977]

>>317882
it never was actively a magic the gathering exchange. a rose by any other name...

[Anonymous No.317987]

I made a few $1000 off BTC. Was never an early adopter, but if you are alright at Forex trading you can make a killing off crypto-currencies. The market trend is so easy to fucking read and all the kiddies have no idea what they are doing. It's really the wild west. Your financially savvy friends will laugh at you though.

[Anonymous No.318068]

>>317987
Agreed.

To the nay sayer:
Pseudonymity guarantees a growth in participants as there is no appeal to authority to be the network; nothing stopping you from joining a pool or downloading a wallet.

micro-payments are not possible using BoA or any other traditional online banking. Paypal has minimum fees on the order of 30 cents which makes anything charged for less uneconomical. The implications are involved with virtual reality augmentation such as video games or online scientific journal articles and finally crowd sourcing for donations.

[Anonymous No.318159]

>>317359
>Gold actually has value. It can be used to conduct electricity. It can be used to fill teeth. It has a real value, like any other precious metal.
Gold's "actual value" is irrelevant because it is practically nothing compared to the price gold sells for.

[Anonymous No.318518]

>>315457
>I keep a bank in my pocket at all times.

Why on earth do buttcoiners think this is a good thing.

Also, it's nowhere near a bank. You can't borrow money from that 'bank' in your pocket. You can't invest in companies using that 'bank' in your pocket.

Buttcoiners are fucking deluded morons, who likely have next to no first hand experience with banks and banking in general.

That's why they think buttcoin is actually viable.

[Anonymous No.318738]

So, over on /r/bitcoin they're actually all convinced that bitcoin is going to "break out" and they'll all be rich again.

It would be laughable if you were sadistic. Instead, it's just sad.

Hodl. Hodl until the end.

Are there any /biz/raelis out there who are still just passively holding bitcoins? I'm not talking daytrading, but cold wallet true believer types. Anyone?

[Anonymous No.318744]

>>318738
I hold roughly 40k.

I didn't buy 40k worth of BTC if that's what you're wondering.

[Anonymous No.318747]

>>318744
40 thousand bitcoin?

[Anonymous No.318748]

>>318747
40k USD worth in BTC

[Anonymous No.318755]

>>318748
Ok thanks for the clarity. I have no idea how many bitcoin that is. 80? I only use Canadian exchange prices.

[Anonymous No.318756]

>>318755
Roughly 80 yes

[BUMP2THE9k No.318768]

>>318159
Exactly! Gold has and always will be 95% speculation.

[Anonymous No.319088]

>>318756
So how are you going to feel in three weeks when you only have 30K in bitcoin?

Just wondering. I assume the emotional state of a bagholder is that of the pure psychopath.

[Anonymous No.319097]

>>319088
Wasting your breath

[Anonymous No.319120]

if you don't have at least 1 bitcoin you're a queer

[Anonymous No.319239]

I'm not sure if every single person here is only bumping this thread because they are in the same situation as me, but I'll ask anyway:

I bought in at $830 or so. Is there any way I'm going to get my money back anytime soon? Or am I out of $830?

[Anonymous No.319246]

>>318068
Paypal has minimum fees on the order of 30 cents which makes anything charged for less uneconomical.

Are you saying you would actually order something for less than 30 cents off the internet and then whine about having to pay 30 cents?

It's 30 cents...

[BUMP2THE9k No.319248]

>>319239
You are down 50%, not 100%. The fundamentals are constantly getting better.

[Anonymous No.319253]

>>319239
How many did you buy?

[Anonymous No.319254]

>>319246
Every fee adds up. It's like the 10 random cents or so a bank charged their millions of customers. Now they are millions richer.

>>319248
Fundamentals?

>>319253
Just one.

[Anonymous No.319255]

>>319239
You're pretty much out your money. Ripple just announced today that they have made it into the banking system. Eventually it will overthrow Bitcoin because of Fed backing.

[Anonymous No.319257]

>>319246
That guy is actually wrong. The minimum fee for Paypal is 5 cents which makes it even more cheap.

[Anonymous No.319268]

>>319254
One isn't too bad then. You may take a $400 loss or $800 depending on the future of the coin, but that's not the end of the world.

Making a loss always sucks but to make $800 back shouldn't take you too long.

[Anonymous No.319272]

>>319268
What are you personally investing in yourself?

[Anonymous No.319281]

>>319272
Cash and stocks. Looking at purchasing some ETF's in the future.

I wouldn't ever invest money on crypto "currency". I just can't see any value in it.

[Anonymous No.319284]

>>319239
Yes

[Anonymous No.319891]

>>319284
lol dream on bitcoin is dead

[Anonymous No.319969]

>>319891
Y tho

[Anonymous No.319972]

>>319255
>ripple

[Anonymous No.320166]

>>319255
>Ripple
>100% pre-mine
>non-cryptographic

Try again, Mr. Goldberg, to explain how a centralized authority having total control of 98.6% of a currency is going to work out long term.

[Anonymous No.320209]

>>315425
>buy when it's going up, sell when it's going down.
yes, give me all your money please.

[Anonymous No.320212]

>>315530
you would've been rich. the point is to sell at the top.