Bitcoins

Great time to buy imo

how deliciously contrarian!

I’m very comfortable with the current correction

And so it goes ...

https://www.nytimes.com/2017/11/27/technology/bitcoin-price-10000.html

Uh what's going on?

late era capitalism iirc

late?

https://en.wikipedia.org/wiki/Tulip_mania

i don't think you could ever pay for your drugs with tulips
poppies maybe

if only magic the gathering online exchange was still around to regulate bitcoin transactions

They only lost 800k of them
Someone do the math

$13 billion worth

gonna try not to think about the fact that I could have been paid in part in BTC at my last job but opted out

so part of this is due to the Tether coin, a new cryptocurrency based on the US dollar, wherein each coin is worth $1 apiece

I believe one of the Bitfinex guys invented it. essentially giving himself the license to just print millions of dollars

and yes this is all very illegal. I know someone who works in the BTC space who thinks that this dude is going to jail and everyone's going to get goxxed again. next few weeks may be interesting.

btw I know everyone's feeling a lot of FOMO on this but it's kind of insane to think that someone would have bought in at like $300 and continued to hold past the $1k mark, given bitcoin's history

this whole thing is so strange - BTC is accepted pretty much nowhere these days, the whole appeal is in its Ponzi-scheme like properties, where everyone thinks they're getting in at the right time

my mom asked me if she should buy a bitcoin

xp - it's accepted for buying drugs. I'm sure that's not the biggest part of the movement these days but it is a usage that's not going anywhere any time soon. The feds could probably crater a significant chunk of the Bitcoin user base by legalizing weed.

I found the password to my old wallet and I have a whopping .07. A significant amount of money right now but also small enough that I'm willing to let it ride and see what happens.

yea my guess is there's a new Silk Road out there that isn't getting publicized on 60 minutes. plus you can get on poker/sportsbetting websites with it. but IIRC the first bitcoin "boom" happened as a bunch of businesses clumsily started accepting it which gave the illusion that this thing was gonna be like PayPal in a few years. now it's just....wheeeeee!!!

Ok it’s over 18k now, what the hell

I have 0.04 on an old iPhone which I now think its worth my while to work to get off. Can't just transfer it off because the wallet is a little deprecated. The fact that what cost me 10 dollar in a carpark after a blockchain meet up a few years ago is now worth nearly 1000AUD is insane. Time to liquidate.

Jeez, the spare change that I had left in my account after buying brain drugs is now worth almost enough to buy more brain drugs!

Pro tip: liquidate and put it towards retirement funds or bonds, not brain drugs

I find it entirely unsurprising, btw, that the biggest YMO and Scooter fan in our village is also the most informed observer of the cryptocurrency scene. frogbs, if you ever make it out my way, I have to buy you a beverage.

I was going to put mine toward regular drugs, is that okay?

I've been doing very well out of australian junior cobalt miners this year. All the fun of mining cobalt without the child slaves and, you know, actual mining (or at least drilling, lots of drilling reports).

my mom asked me if she should buy a bitcoin

― Chocolate-covered gummy bears? Not ruling those lil' guys out. (ulysses), Thursday, December 7, 2017 8:41 PM (yesterday) Bookmark Flag Post Permalink

We've reached this stage for sure, my dad asked me the same thing yesterday :)

What irks me most about the bitcoin rise are the thousands ill-informed, excrutiating media reports about it. They really are clueless, and from that starting point try to "inform" the public, who are lost at sea. Hence my dad asking the same thing.

america's most trusted security guru weighs in:

Bitcoin now at 6,600.00. Those of you in the old school who believe this is a bubble simply have not understood the new mathematics of the Blockchain, or you did not cared enough to try. Bubbles are mathematically impossible in this new paradigm. So are corrections and all else pic.twitter.com/go9v0w92zk

— John McAfee (@officialmcafee) December 8, 2017

the rise of the alt math

All else is impossible in the new paradigm

I think I’m with mcafee in this one

This is incredible lmao

— 🔥H E L L D U D E🔥 (@muhmentions) December 8, 2017

and

https://blockchain.info/unconfirmed-transactions

Friend of mine was thinking of investing in bitcoin. Eyerolled hard when she said she thought there was something to it because "young people were interested in it".

you did not cared enough to try.

$500 investment in 2011 and you are set. for. life.

frogbs, if you ever make it out my way, I have to buy you a beverage.

I'd take you up on that but I'm afraid your fiat currency will be no good by the time this happens

omg at "Bubbles are mathematically impossible in this new paradigm"

someone has to sell at some point

self serving nonsense

The thing is that if I had bought at $10 I would have certainly sold when it hit $100. And if i had bought at $100 I would have sold at $1000. And so on. So I’d still be feeling the same feeling of missing the boat because I wouldn’t have held until now on that original $10 price point. Because It doesn’t hold any real value aside from purchasing power on the black market, which is now being subsumed by Monero I assume. So it’s a speculative bubble and when it reaches this level of media saturation and patents start asking about it, just like Facebook 10 years ago, a backlash is inevitable. Not to mention the choice between storing your coin with the exchange (nope) or in a private wallet which entails its own requirements for keeping your shit together and not losing your pass key...

i had some lose change in coinbase that's now worth $200 lol

And clearly Newegg and other above board merchants who accepted it as payment are laughing all the way to the bank at this point. Oh, that keyboard / mouse combo that you bought for 100 millibits 3 years ago? It’s now worth $1500. Hahaha

loose change* xp

i just watched the big short w/ my parents over thanksgiving. i'd like to 'bet against' bitcoin. who do i give my money to?

Talk to a broker about Contract For Difference derivatives in the futures market.

There's a Bitcoin ETF that you could short sell

Paid rent and utilities for a month, I'm not mad.

Congrats

I will inform my local law enforcement colleagues what "rent and utilities" is code for now

I also assume "I'm not mad" is some kind of hippie language for "whooooaaaaaa"