Bitcoins

can you short bitcoins

― ☂ (max), Wednesday, June 8, 2011 10:14 AM (six years ago) Bookmark Flag Post Permalink

I bought and used these things when they were like 7 dollars each and bit my tongue when ilxors lol’d at the libertarian nerds.

Who’s laughing now? Well neither of us I guess cuz I spent them on ~stuff~ and I could retire right now.

My loose change in Coinbase is like 1200 bucks though.

You may want to cash out. When the difference between what one originally invested and what one can recoup reaches this kind of magnitude, the urge to take profits could easily become a race for the exits. The dollar value of your bitcoins is only real if there is someone with dollars willing to exchange them with you in return for your bitcoins. There is no currency that is immune to crashing.

Bitcoins seem to be a bit analogous to real estate, in that there is a finite supply with a known maximum limit. Yet real estate is prone to bubbles and crashes, too. Additionally, you typically can derive some measure of tangible benefit from real estate, which you can't from bitcoins.

you can't live in a Bitcoin???

Drug dealers don't seem to have enough confidence to use bitcoin for laundering yet. I don't know what I'd do without the local drug-dealer owned shell tanning studio business though.

yea a commodity whose value shifts as much as 25-30% on a given day is kind of useless for everything besides gambling

definitely not a bubble happening oh no

https://gizmodo.com/imposter-cryptocurrency-wallet-app-races-up-apples-stor-1821180826

Bitcoin is the real Occupy Wall Street.

— Julian Assange 🔹 (@JulianAssange) December 15, 2017

we officially reached the point in this vicious cycle where there's at least one young man in my city who is accosting random passerby on the sidewalk, politely asking if they have time for a quick question, and following that with "what do you know about cryptocurrencies?"

Hey Julian: shut the fuck up

Saw a bitcoin atm just this evening.

(Gray's Inn Road / kings cross)

(a sign for one anyway)

I have a small amount in GBTC and MGTI. Basically I keep realizing gains and rebuying on dips. Rinse repeat. Not mad. I would buy bitcoins but transactions always want text verification, which I can't rely on.

lol the £0.01 coinbase gave me for signing up is now up to £1.50

― sktsh, Thursday, June 8, 2017 1:50 PM (six months ago) Bookmark Flag Post Permalink

feels good to be a titan of fx trading

― sktsh, Thursday, June 8, 2017 1:51 PM (six months ago) Bookmark

currently crashing

*nelson laugh*

co sign, hope it bottoms out completely

I expect the strength of the bitcoin delusion will spark a rally at some point, from those who are seeking "bargains". It takes time to burn an irrational market to the ground.

still at $13k which is like $12,995 more than I thought it would ever be

give it time

Schadenfreude in its purest form

i could see buying 100 bucks of these if they ever get down to $10 again as a risk/reward experiment

tho it might be kinda like buying a hundred bucks of pokemon cards now

lol yes, or some Magic raers

brb gonna turn all my liquid cash into copies of youngblood #1

That equilibrium price is coming any day now

this polybagged limited edition Plasm variant is gonna put my kid through college
and the princess diana beanie baby is for retirement

Helpful info from a website I stumbled across:

Unlike other forms of money like paper currency or metals, bitcoins derive their value from mathematics rather than physical properties.

Yes. A twenty dollar bill obviously derives its value from its physical properties, which vary greatly from the physical properties of, for example, hundred dollar bills and five dollar bills.

Turns out that I have .0001 BTC left, worth $2.05. Guess I'll let it sit in Coinbase until these are worth a billion each.

I decided to risk it and re-added on Friday morning some GBTC that I had sold. Will see what happens Tues. But so far looking good. I don't know if they tanked it so they could run it back up over the long weekend when people are unlikely to trade.

Dogecoin seems to be doing great

Bubbles are always compelling, because real coin is being made in a big hurry. Until it's being lost even faster.

i was thinking of buying some if it drops below 10k then a friend suggested i just started mining them. this is how he started, with a combo of buying and mining. unfortunately i didn't get the name of his miner setup.

is there a legit mining program you can download that mines crypto currency using your computer while you are sleeping/at work? something that works w Windows 10 prefereably...

why not start leaving your fridge door open at all times and burning tyres in your back yard too

your mining operation is completely irrelevant in the face of the botnets made of hundreds of thousands of phones, and massive overclocked coin farms in the west bumfuck parts of the PRC

iow bizarro otm as usual

anyone with a real answer?

those are real answers

fwiw i don't care if i made like a fraction of a bitcoin i have no aims to have my computer competing with a overseas bitcoin mining farm operation

Ya I think I'll mine some bitcoin too any tips

Are there places it's better to mine like the Ukraine or Texas or is it not like that

don't you wind up paying like 10x more in electricity than what you'd make from mining at this point

buy ripple

some are speculating that banks are betting on it so youll see massive growth and it is relatively cheap at the moment and doesnt require mining

Production of bank notes costs more than the worth of the raw materials guys but fiat currencies still work somehow cmon

just do it and stfu

by end of 2018 youll be thinking gee remember that guy 'infinity' or something on the ilxor.com forum? its like he came from the future w the grays sports almanac and told me every winning move in fintech for the year

*cue huey lewis and the news' back in time*

=(

https://www.washingtonpost.com/business/technology/bitcoins-boom-is-a-boon-for-extremist-groups/2017/12/26/9ca9c124-e59b-11e7-833f-155031558ff4_story.html?utm_term=.8be8269372e0

Those who began acquiring bitcoin in August already have reaped substantial returns, despite the recent volatility in its price. In the months since demonstrators carried flaming torches and chanted “Jews will not replace us,” bitcoin has quadrupled in value. The digital currency began trading on several mainstream financial markets this month, pushing the price of a single bitcoin at times above $19,000. It was worth $16,000 at one point Tuesday.

Extremist figures who invested in bitcoin as a bulwark against efforts to block their political activity now find themselves holding what amount to winning lottery tickets. The proceeds could be used to communicate political messages, organize events and keep websites online even as most mainstream hosting services shun them, experts say.

I still refuse to believe that there's that much *actual* money in this. Some people are getting rich no doubt but that money isn't just being created out of thin air, as much as it seems like it is at this point

W

What

i don't really know anything about cryptocurrency, but am i correct in thinking that 1) if it became more commonly used, it would essentially represent a merging of the use of money for investing and the use of money for day-to-day transactions, and 2) this merging would lead to even worse income inequality, assuming anything resembling the recent price volatility continues to play out?