Cryptocurrencies

[sexualhelon]

Anyone else into cryptocurrencies?

They're really the wild wild west of investing and gross speculation. Regulation is very limited which allows for massive pump/dump schemes. Some have very little knowledge on the security around these which causes them to have all their funds stolen. It's turned some into overnight millionaires and lost others their life savings.

That said, I find them to be a very solid component of any intelligent investors portfolio. However, steer clear if volatility scares you. The larger one's can easily dip/rise $20+ in a day.

So any crypto's you guys favor more than others? Why so? Do you think these - or one of these - will become common place for payment in the future or will it fade away as a ridiculous part of history?

[SodaJerk]

Watched Bitcoin religiously for 18 months and said I'd buy in once it got down to a certain level. Eventually it did but I had a whole lot of other shit go on in that time period that tied up my funds. Had I been able to do it I would currently be sitting on six times my investment. Not sure how I feel about going in now or any other currency. Could have, should have, would have. Fuck it.

[wheelies]

Buy what you can afford to lose in BTC and just SIT ON IT, don't loose it or use it. Don't worry about dips, its ALWAYS gone up. You should look at BTC as a longer term investment.

Syscoin is kinda interesting, it could be a get rich quick thing, look it up, personally I would invest some in it if I could.
 
Ive been using BTC it since it was in the 200's, I could have been rich, but I bought alot drugs instead 

[Nico365]

An online friend of mine gave me some fractions of bitcoin once, when the dollar was at its highest and the Brazilian real, at its lowest. I bought a 5boro deck and big Moska wheels with the loot. I don't regret not keeping it, but I'd be sitting at like double that value right now.

I personally do not know much about bitcoin. I mean i was reading some basic interesting facts about it but my questions are- So you generate these bitcoins with your own computers? In what way isn't this free infinite money, or at the very least hyper inflated? and Is there a system in place that stops a complete collapse of the value of the bitcoin?

[SodaJerk]

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An online friend of mine gave me some fractions of bitcoin once, when the dollar was at its highest and the Brazilian real, at its lowest. I bought a 5boro deck and big Moska wheels with the loot. I don't regret not keeping it, but I'd be sitting at like double that value right now.

[close]

I personally do not know much about bitcoin. I mean i was reading some basic interesting facts about it but my questions are- So you generate these bitcoins with your own computers? In what way isn't this free infinite money, or at the very least hyper inflated? and Is there a system in place that stops a complete collapse of the value of the bitcoin?

You don't generate them, you mine for them. They aren't sporadically spaced out but come in rifts and seems a lot like mineral commodities. They are finite. Their only value is what someone else is willing to pay for them.

[ImportantGuy]

I love the idea of an unregulated/untraceable global currency. I don't like that technical knowledge/equipment is required to use it, excluding a large part of the population.

My prediction is, when all this collapses, we'll go back to bartering.

[somethingmustbreaknow]

so Nico365 and ImportantGuy are the same guy.
they are probably Nora9 as well as some others.

[noileum]

the kevin rose pod recently had a bitcoin fella on there - was pretty interesting and gave some insights into the possible future applications of crypto currency

worth a listen

[bawtawd5]

buy or dont, dont be a pussy guy who just talks bout the shit

[ImportantGuy]

buy or dont, dont be a pussy guy who just talks bout the shit

You'd be a solid drug dealer.

[Dr. Octagon]

Ripple (XRP) is the next big one.

[ImportantGuy]

so Nico365 and ImportantGuy are the same guy.
they are probably Nora9 as well as some others.

Fixed.

[fulfillthedream]

Buy what you can afford to lose in BTC and just SIT ON IT, don't loose it or use it. Don't worry about dips, its ALWAYS gone up. You should look at BTC as a longer term investment.

Syscoin is kinda interesting, it could be a get rich quick thing, look it up, personally I would invest some in it if I could.
 
Ive been using BTC it since it was in the 200's, I could have been rich, but I bought alot drugs instead 

i first invested $50 and it went up and then added another $30 and now i have made $20 in just one month... i did a lot of reading and talking to people who had experience. from how its going i wanna put in a amount i can afford to loose each month and see how this goes. there's a lotta resources online that explains this in a simple way. im not a finance/business or tech guy but i was able to get it and see the value.

[SodaJerk]

the kevin rose pod recently had a bitcoin fella on there - was pretty interesting and gave some insights into the possible future applications of crypto currency

worth a listen

Just listened and you're right it's worth it.

[slappyslap]

I have invested 5000$ in Bitcoins and have made 4000$ profit

[ChuckRamone]

I’ve just started reading up on this. do you guys have hardware wallets or do you keep them on computer or mobile wallets?

[ImportantGuy]

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My prediction is, when all this collapses, we'll go back to bartering.

[close]

This is the entire purpose of money, to have something you can trade universally. If you grow a bunch of rice and I have gasoline, but I also have a shit load of rice, then you have no way to get gas without hoping you can find someone who has something that I find of value.

I love the concept, but the doomsayer in me doesn't think the Powers that Be will ever let humanity get away with an unregulated/untraceable global currency. Bitcoin and other alternatives are only legal because they're not a real threat to the status quo. I can imagine a dystopian future where their use is criminalized.

When the current debt based monetary system collapses we'll go back to trading things for things. It's not the most practical way to go but it'll be all we have.

[SodaJerk]

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My prediction is, when all this collapses, we'll go back to bartering.

[close]

This is the entire purpose of money, to have something you can trade universally. If you grow a bunch of rice and I have gasoline, but I also have a shit load of rice, then you have no way to get gas without hoping you can find someone who has something that I find of value.

[close]

I love the concept, but the doomsayer in me doesn't think the Powers that Be will ever let humanity get away with an unregulated/untraceable global currency. Bitcoin and other alternatives are only legal because they're not a real threat to the status quo. I can imagine a dystopian future where their use is criminalized.

When the current debt based monetary system collapses we'll go back to trading things for things. It's not the most practical way to go but it'll be all we have.

The government can't stop crypto currencies any more than they can stop drug trafficking. The only real threats to these currencies are people not valuing them or the development of quantum computing. Quantum computing will be a reality before people give in on cryptocurrencies

[ImportantGuy]

The government can't stop crypto currencies any more than they can stop drug trafficking. The only real threats to these currencies are people not valuing them or the development of quantum computing. Quantum computing will be a reality before people give in on cryptocurrencies

I don't think the war on drugs was designed to stop drug trafficking, but to feed the prison system. Not only that, the State has become the premier dope dillah : weed, booze, prozacs, percs, oxys, adderall, viagras, they got it all yo. Their approach is Demonize, Criminalize, then Monopolize.

I unfortunately think they could pull off something similar with these currencies. Either that, or they'll manipulate public opinion enough so that they'll go way under the radar. Just look at 3D printing. Why isn't there one in every single home?? It's too disruptive.

One can hope, yeah. History almost teaches us not to.   

[SodaJerk]

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The government can't stop crypto currencies any more than they can stop drug trafficking. The only real threats to these currencies are people not valuing them or the development of quantum computing. Quantum computing will be a reality before people give in on cryptocurrencies

[close]

I don't think the war on drugs was designed to stop drug trafficking, but to feed the prison system. Not only that, the State has become the premier dope dillah : weed, booze, prozacs, percs, oxys, adderall, viagras, they got it all yo. Their approach is Demonize, Criminalize, then Monopolize.

I unfortunately think they could pull off something similar with these currencies. Either that, or they'll manipulate public opinion enough so that they'll go way under the radar. Just look at 3D printing. Why isn't there one in every single home?? It's too disruptive.

One can hope, yeah. History almost teaches us not to.   

I deliberately didn't mention the War on Drugs because it has nothing to do with preventing drug abuse.

Any government seen to play a part in any crypto currency would immediately devalue that currency. Their major strength and appeal is decentralisation.

[ImportantGuy]

^I feel like we want the same things, but maybe you're slightly more optimistic? I can't help but think that these technologies are too revolutionary. They'll try to stop them at all costs. Fucking Lizard freaks.

[SodaJerk]

^I feel like we want the same things, but maybe you're slightly more optimistic? I can't help but think that these technologies are too revolutionary. They'll try to stop them at all costs. Fucking Lizard freaks.

Listen to the podcast Noileum posted. It contains an analogy of the first motorised cars struggling in mud and breaking down all the time and someone observing this from a horse and cart saying "This will never work". Being revolutionary is what drives technologies.

[ImportantGuy]

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^I feel like we want the same things, but maybe you're slightly more optimistic? I can't help but think that these technologies are too revolutionary. They'll try to stop them at all costs. Fucking Lizard freaks.

[close]

Listen to the podcast Noileum posted. It contains an analogy of the first motorised cars struggling in mud and breaking down all the time and someone observing this from a horse and cart saying "This will never work". Being revolutionary is what drives technologies.

Will listen.
I understand your example, but there's a big difference between a shitty car that can't get out of the mud and a fully functional currency that barely anybody uses.

There's something else at play here, and that something has everything to gain from people having NO CLUE what these currencies could ever do for them.

[weedpop]

In fairness, you don't seem to have much of an idea about the true potential of cryptocurrencies, or the factors that are currently holding them back (hint: it's not government intervention). Maybe do some more research before drowning every discussion in dime-store anarchist platitudes??

[Betaphenylethylalamine]

How many business etc accept Bitcoin as payment?

I just read up on how this works and it sounds almost like an online account where you can do email money transfer

Or am I totally wrong?

I'm very interested in this and need way more research.

Are you guys actively using this or is it more of a "invest and sit on it" type thing?

[ImportantGuy]

In fairness, you don't seem to have much of an idea about the true potential of cryptocurrencies, or the factors that are currently holding them back (hint: it's not government intervention). Maybe do some more research before drowning every discussion in dime-store anarchist platitudes??

Noted. I need all the help I can get. Please enlighten me in regards to the true potential of cryptocurrencies, and what factors are currently holding them back. All you're saying here is : do research. Maybe guide me a little?
Thanks for the hint, by the way.

[bawtawd5]

I did a thread 2 weeks ago tellin y'all to invest at 7k, now its 9k. Big digits big profits.

[ChuckRamone]

what if it’s a huge scam and all the bitcoins suddenly disappear one day?

[shucknjive]

the currency = gz

[Betaphenylethylalamine]

the currency = gz

Is this bawtawd on intravenous Clonazepam???