I don't know much about bitcoin, but can't you mine it?
I saw some videos about it and in the beginning yes but now you need a power plant filled to the brim with gpu's to get anywhere and who would have thought someone actually went out there and did that
I don't get the appeal of crypto-currencies, even with fiat/paper money there's a physical object exchaing hands and creditds.
Amongst Libertarians it is a currency that is free from the banking system which is fucked if you know anything about it. People can transfer money to each other without any bank and transactions can't be traced with no paper trail (which made it popular for people buying drugs on the internet). Also, in many countries if a bank goes under you are not guaranteed access to your money like what happened in Cyprus. In the US and other countries they force the banks to give you a certain amount of your deposit (It's $200,000 in Australia and it was similar in the US during the crisis) but they don;t have to give you any more than that if they go under. With crypto the money if yours like owning a physical commodity, but like a commodity it can increase and decrease in price making it more unstable as we have seen recently. But the price of current money in controlled by central banks and regular banks.
It's a global digital currency that is out of the control of the elites. But to most people getting into it they see it as some speculative investment where they can make a shit ton of cash, which is why they are now panic selling since it hasn't bounced back from the recent fall.
Re: bitcoin keeps climbing, normies get involved.
Posted: Thu Jan 18, 2018 11:40 am
by veris leta facies
There's definitely a demand for cryptocurrencies. If Bitcoin will crash completely it's because some other more potential crypto will replace it. I don't really believe that will be the case, BTC is overwhelmingly the most well-known and used crypto at the moment. I have made some money with BTC and ETH and it really irks me why I sold them too early and why I didn't invest more into them +1 year ago.
Master Friedman predicted the rise of the cryptocurrencies way back in the 90s.
I don't get the appeal of crypto-currencies, even with fiat/paper money there's a physical object exchaing hands and creditds.
Aside from being independent from banks, there's the whole mining deal aka "Wow I'm making my own money!" (nevermind that your average Joe doesn't have the hardware to pull it off properly).
And of course, many newcomers are just using those currencies to essentially gamble.
Re: bitcoin keeps climbing, normies get involved.
Posted: Thu Jan 18, 2018 7:33 pm
by Osterzone
It's pretty funny that Kodak, the struggling camera company, more than tripled their stock value after announcing making their own KodakCoin. They're even trying to sell mining rigs for bitcoin for over 3000 dollars.
Re: bitcoin keeps climbing, normies get involved.
Posted: Thu Jan 18, 2018 7:58 pm
by MegaNigger
My buddy's Bit coin just went down 60%. He's all panicked. Idk why. He only put in 100 bucks.
Re: bitcoin keeps climbing, normies get involved.
Posted: Thu Jan 18, 2018 8:14 pm
by mad bum
He would of been better off buying 100 lottery tickets.
It's pretty funny that Kodak, the struggling camera company, more than tripled their stock value after announcing making their own KodakCoin. They're even trying to sell mining rigs for bitcoin for over 3000 dollars.
That's why crytpo is such shit, I could make a DHIcoin and say you can mine it if you shitpost. Anyone can make this garbage and the only way crytpo will be taken seriously is if its consolidated and regulated so you can't just make anything you want.
Re: bitcoin keeps climbing, normies get involved.
Posted: Thu Jan 18, 2018 8:32 pm
by Osterzone
Not sure why you're so hostile about this, bum. Only invest what you're willing to lose.
It's pretty funny that Kodak, the struggling camera company, more than tripled their stock value after announcing making their own KodakCoin. They're even trying to sell mining rigs for bitcoin for over 3000 dollars.
That's why crytpo is such shit, I could make a DHIcoin and say you can mine it if you shitpost. Anyone can make this garbage and the only way crytpo will be taken seriously is if its consolidated and regulated so you can't just make anything you want.
Only a few cryptos are worth a shit, with Bitcoin being the big one. It's like with search engines and social media sites, initially there is a flood of crap but eventually a big dog emerges.
This is why Bitcoin will be around for a while, there will only be a set amount of them for 100 years no matter what.
