Bitcoin (Main Page)

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th3rm0m3t3r0

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Re: Bitcoin (Main Page)
« Reply #30 on: December 31, 2017, 02:56:31 PM »
First, there's evidence that that whole thing never even happened.

Incorrect. Some people say that there is no evidence that the bubble was so big and collapsed so dramatically. No one really disputes that it happened.

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Second, no it's not. Crypto has intrinsic value.

O rly?

https://www.smithsonianmag.com/history/there-never-was-real-tulip-fever-180964915/

Yes, really. The technology is necessary as we transition to an automated world. It's trustless. There is, at the moment, no parallel.

This could just be because I've made a lot of money in crypto, but I truly believe it will be a large part of humanity's future.

First of all you can find just as many if not more sources claiming the opposite. But that title was, as I expected, clickbait:

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That’s not to say that everything about the story is wrong; merchants really did engage in a frantic tulip trade, and they paid incredibly high prices for some bulbs. And when a number of buyers announced they couldn’t pay the high price previously agreed upon, the market did fall apart and cause a small crisis—but only because it undermined social expectations.

It says exactly what I told you.

The technology behind bitcoins does have value. Bitcoins themselves have no intrinsic value, definitely no more than tulips.

Regardless of tulips, they aren't advanced technology that serves any real world purpose.

How can something made of valuable technology not be valuable?

Like I said, BTC will fall, but other coins will take its place. What gives a dollar value? What gives anything value?


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Pezevenk

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Re: Bitcoin (Main Page)
« Reply #31 on: December 31, 2017, 03:13:58 PM »
How can something made of valuable technology not be valuable?

Will you give me 100 real dollars for this picture of 100 dollars?


The technology used to send this picture over to you costs a lot more than 100 dollars so it's pretty damn valuable. So I guess it's a fair trade.

Bitcoins, just like real money, don't really have any intrinsic value. However bitcoins are ridiculously volatile compared to real money, and while it's not easy for the price of real money to fall to absolutely nothing and never come back up, that's actually pretty likely for bitcoin.
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th3rm0m3t3r0

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Re: Bitcoin (Main Page)
« Reply #32 on: December 31, 2017, 03:40:47 PM »
How can something made of valuable technology not be valuable?

Will you give me 100 real dollars for this picture of 100 dollars?


The technology used to send this picture over to you costs a lot more than 100 dollars so it's pretty damn valuable. So I guess it's a fair trade.

Bitcoins, just like real money, don't really have any intrinsic value. However bitcoins are ridiculously volatile compared to real money, and while it's not easy for the price of real money to fall to absolutely nothing and never come back up, that's actually pretty likely for bitcoin.

You have that wrong. Bitcoin isn't the picture on the computer, Bitcoin is the computer. This alone makes it more valuable (intrinsically) than fiat.


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Pezevenk

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Re: Bitcoin (Main Page)
« Reply #33 on: December 31, 2017, 03:51:36 PM »
You have that wrong. Bitcoin isn't the picture on the computer, Bitcoin is the computer. This alone makes it more valuable (intrinsically) than fiat.

You're talking about the company, for some reason, and I'm talking about the currency.
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th3rm0m3t3r0

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Re: Bitcoin (Main Page)
« Reply #34 on: December 31, 2017, 04:31:02 PM »
You have that wrong. Bitcoin isn't the picture on the computer, Bitcoin is the computer. This alone makes it more valuable (intrinsically) than fiat.

You're talking about the company, for some reason, and I'm talking about the currency.

I'm not talking about the company.


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Twerp

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Re: Bitcoin (Main Page)
« Reply #35 on: December 31, 2017, 04:34:57 PM »
I still wanna know which currency to invest in and get set up to start mining.
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sokarul

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Re: Bitcoin (Main Page)
« Reply #36 on: December 31, 2017, 04:46:22 PM »
I'm searching for an alt coin miner program. Which one may you suggest?
Your hardware isn't good enough. 
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th3rm0m3t3r0

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Re: Bitcoin (Main Page)
« Reply #37 on: December 31, 2017, 05:03:06 PM »
I still wanna know which currency to invest in and get set up to start mining.

Don't mine. Just put a couple hundred bucks in and trade.

I'm searching for an alt coin miner program. Which one may you suggest?
Your hardware isn't good enough. 

Probably true.


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Son of Orospu

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Re: Bitcoin (Main Page)
« Reply #38 on: December 31, 2017, 05:06:02 PM »
I'm searching for an alt coin miner program. Which one may you suggest?
Your hardware isn't good enough. 

Not for Bit Coin, but there are plenty of currencies that are still easy to mine.  A friend of mine mined over 100 of something in a few months.

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th3rm0m3t3r0

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Re: Bitcoin (Main Page)
« Reply #39 on: December 31, 2017, 05:07:10 PM »
I'm searching for an alt coin miner program. Which one may you suggest?
Your hardware isn't good enough. 

Not for Bit Coin, but there are plenty of currencies that are still easy to mine.  A friend of mine mined over 100 of something in a few months.

You need a mining rig to generate any real profit. If you want to make enough to pay your bills, you'll probably have to put a few tens of thousands in.

Just trade.


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sokarul

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Re: Bitcoin (Main Page)
« Reply #40 on: December 31, 2017, 05:07:35 PM »
Holy fuck.  Oh wait....



Good luck making 50 cents a day.
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th3rm0m3t3r0

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Re: Bitcoin (Main Page)
« Reply #41 on: December 31, 2017, 05:08:48 PM »
Holy fuck.  Oh wait....



Good luck making 50 cents a day.

I can make like a dollar a day at most with my 7820x and 1080 ti. Maybe a couple dollars. But still.


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Son of Orospu

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Re: Bitcoin (Main Page)
« Reply #42 on: December 31, 2017, 05:09:51 PM »
I'm searching for an alt coin miner program. Which one may you suggest?
Your hardware isn't good enough. 

Not for Bit Coin, but there are plenty of currencies that are still easy to mine.  A friend of mine mined over 100 of something in a few months.

You need a mining rig to generate any real profit. If you want to make enough to pay your bills, you'll probably have to put a few tens of thousands in.

Just trade.

Yeah, he spent over a grand on his, but the coins only need to hit over $10 for him to break even. 

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th3rm0m3t3r0

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Re: Bitcoin (Main Page)
« Reply #43 on: December 31, 2017, 05:10:55 PM »
I'm searching for an alt coin miner program. Which one may you suggest?
Your hardware isn't good enough. 

Not for Bit Coin, but there are plenty of currencies that are still easy to mine.  A friend of mine mined over 100 of something in a few months.

You need a mining rig to generate any real profit. If you want to make enough to pay your bills, you'll probably have to put a few tens of thousands in.

Just trade.

Yeah, he spent over a grand on his, but the coins only need to hit over $10 for him to break even.

Meanwhile I'm making $1k a day. Not worth mining most things.


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sokarul

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Re: Bitcoin (Main Page)
« Reply #44 on: December 31, 2017, 07:26:35 PM »
You aren't make 1k a day without mining.
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sokarul

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Re: Bitcoin (Main Page)
« Reply #45 on: December 31, 2017, 08:06:10 PM »
And a big mining operation at that.
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th3rm0m3t3r0

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Re: Bitcoin (Main Page)
« Reply #46 on: December 31, 2017, 09:17:26 PM »
You aren't make 1k a day without mining.

What? I'm sure you know better than me, right?


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sokarul

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Re: Bitcoin (Main Page)
« Reply #47 on: December 31, 2017, 09:23:07 PM »
Yes. Have you mined Bitcoin with your personal computer without a pool?
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Re: Bitcoin (Main Page)
« Reply #48 on: December 31, 2017, 10:15:48 PM »
Is anyone else excited as I am to learn what cryptocurrency makes him 1k a day?  None of the big ones make that much so it must be an alt coin. But which one? Can it be found on crypiyopia? Only time will tell
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th3rm0m3t3r0

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Re: Bitcoin (Main Page)
« Reply #49 on: December 31, 2017, 11:41:53 PM »
Is anyone else excited as I am to learn what cryptocurrency makes him 1k a day?  None of the big ones make that much so it must be an alt coin. But which one? Can it be found on crypiyopia? Only time will tell

I mean, it's not one coin, just my whole portfolio. I'm not sure what you want. It's all about how much you have invested.


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Pezevenk

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Re: Bitcoin (Main Page)
« Reply #50 on: January 01, 2018, 01:09:56 AM »
You have that wrong. Bitcoin isn't the picture on the computer, Bitcoin is the computer. This alone makes it more valuable (intrinsically) than fiat.

You're talking about the company, for some reason, and I'm talking about the currency.

I'm not talking about the company.

WTF are you talking about then? Do you think if people stop using bitcoin and you have 1 bitcoin, it somehow has value and someone will care to buy it? What do you think you can do with a bitcoin if people aren't using it as a currency any more?
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th3rm0m3t3r0

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Re: Bitcoin (Main Page)
« Reply #51 on: January 01, 2018, 02:09:13 AM »
You have that wrong. Bitcoin isn't the picture on the computer, Bitcoin is the computer. This alone makes it more valuable (intrinsically) than fiat.

You're talking about the company, for some reason, and I'm talking about the currency.

I'm not talking about the company.

WTF are you talking about then? Do you think if people stop using bitcoin and you have 1 bitcoin, it somehow has value and someone will care to buy it? What do you think you can do with a bitcoin if people aren't using it as a currency any more?

Sure, ultimately, people set the value of everything. I'm saying Bitcoin is made of a valuable technology and is more versatile and just all around better than fiat, and so is intrinsically more valuable.


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Pezevenk

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Re: Bitcoin (Main Page)
« Reply #52 on: January 01, 2018, 02:25:28 AM »
You have that wrong. Bitcoin isn't the picture on the computer, Bitcoin is the computer. This alone makes it more valuable (intrinsically) than fiat.

You're talking about the company, for some reason, and I'm talking about the currency.

I'm not talking about the company.

WTF are you talking about then? Do you think if people stop using bitcoin and you have 1 bitcoin, it somehow has value and someone will care to buy it? What do you think you can do with a bitcoin if people aren't using it as a currency any more?

Sure, ultimately, people set the value of everything. I'm saying Bitcoin is made of a valuable technology and is more versatile and just all around better than fiat, and so is intrinsically more valuable.

Bitcoin isn't "made" of valuable technology any more than fiat is. Just having a bitcoin has absolutely no value, you can't do anything with it and no one wants it, unless you can use it as a currency. No intrinsic value. It's pretty weird to say it's all around better. It isn't all around better, at least not yet. I can think of many situations where it would be extremely impractical to use bitcoin, and of course the greatest detractor is that not everyone uses it. If you want to actually use it, for most applications you'd have to exchange it for real money, and this back and forth will make it forever be volatile. If you want a currency like bitcoin actually be usable you'd have to have everyone accept bitcoin, have wages paid with bitcoin, all banks accepting bitcoin, etc. Unless some governments decide to make such a currency the official currency you're not going to see that.
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sokarul

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Re: Bitcoin (Main Page)
« Reply #53 on: January 01, 2018, 07:16:35 AM »
Is anyone else excited as I am to learn what cryptocurrency makes him 1k a day?  None of the big ones make that much so it must be an alt coin. But which one? Can it be found on crypiyopia? Only time will tell

I mean, it's not one coin, just my whole portfolio. I'm not sure what you want. It's all about how much you have invested.
How does one make a steady 1k a day when crypto is on the way down?
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th3rm0m3t3r0

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Re: Bitcoin (Main Page)
« Reply #54 on: January 01, 2018, 10:03:06 AM »
Is anyone else excited as I am to learn what cryptocurrency makes him 1k a day?  None of the big ones make that much so it must be an alt coin. But which one? Can it be found on crypiyopia? Only time will tell

I mean, it's not one coin, just my whole portfolio. I'm not sure what you want. It's all about how much you have invested.
How does one make a steady 1k a day when crypto is on the way down?

What do you mean by that? Who says it's on the way down?

Made $400 while I slept, by the way.


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Pezevenk

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Re: Bitcoin (Main Page)
« Reply #55 on: January 01, 2018, 10:08:04 AM »
What do you mean by that? Who says it's on the way down?

Εverything and everyone.
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th3rm0m3t3r0

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Re: Bitcoin (Main Page)
« Reply #56 on: January 01, 2018, 10:10:37 AM »




Bitcoin isn't "made" of valuable technology any more than fiat is. Just having a bitcoin has absolutely no value, you can't do anything with it and no one wants it, unless you can use it as a currency. No intrinsic value. It's pretty weird to say it's all around better. It isn't all around better, at least not yet. I can think of many situations where it would be extremely impractical to use bitcoin, and of course the greatest detractor is that not everyone uses it. If you want to actually use it, for most applications you'd have to exchange it for real money, and this back and forth will make it forever be volatile. If you want a currency like bitcoin actually be usable you'd have to have everyone accept bitcoin, have wages paid with bitcoin, all banks accepting bitcoin, etc. Unless some governments decide to make such a currency the official currency you're not going to see that.

It is, though.

Bitcoin isn't even as bloated as it can be, people don't really use it for currency (because it's a terrible currency), and it still has value. I mean, that alone sort of invalidates everything you just said.

It is better than fiat. It's trustless and digital. The blockchain or whatever replaces it will be the world's main form of currency as we move towards automation. It will simplify tons of stuff.

I mean, even as a currency right now BTC could be called better than something like a wire transfer.

I'm not really trying to defend BTC, just crypto in general. Like I said, Bitcoin will fall and something else will take its place. It's technology. Technology becomes obsolete over time. Bitcoin is obsolete.

What do you mean by that? Who says it's on the way down?

Εverything and everyone.

Again, who? Because I profited last night.


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Pezevenk

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Re: Bitcoin (Main Page)
« Reply #57 on: January 01, 2018, 01:36:01 PM »
It is, though.

Huh?

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Bitcoin isn't even as bloated as it can be, people don't really use it for currency (because it's a terrible currency), and it still has value. I mean, that alone sort of invalidates everything you just said.

Are you retarted? The ONLY reason it has any value is because people use it to buy things, or exchange it for real money. It has 0 intrinsic value because you can't do anything with it. It's just numbers. Its value is set by how much money everyone in the world has spent on it. If people have collectively dumped 1 billion dollars on it and the next month they collectively withdraw 500 million its value drops in half. If they withdraw the rest it doesn't worth anything at all.

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It is better than fiat. It's trustless

I agree, people should not depend on it. It's not trustworthy.

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and digital.

How does that make it better?

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I mean, even as a currency right now BTC could be called better than something like a wire transfer.

Why?

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I'm not really trying to defend BTC, just crypto in general.

Yes, maybe some form of cryptocurrency will become widely accepted in some countries, at some point in the future. Maybe. So?
 
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Again, who?

People are not liking what happened to bitcoin. What are you (allegedly) using to profit? Not many alternatives are actually increasing in value.
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Twerp

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Re: Bitcoin (Main Page)
« Reply #58 on: January 01, 2018, 01:51:42 PM »
Yes, maybe some form of cryptocurrency will become widely accepted in some countries, at some point in the future. Maybe.

I think cryptocurrency will eventually become the normal way to buy and sell. I think the US dollar will be replaced by some form of cryptocurrency as the world standard. There will likely be a body looking after it (IMF?) and I believe most of the world will begin using it. I imagine some countries might maintain their own currency for local spending and there will probably be a few competing cryptocurrencies but the value of these will be compared to the main cryptocurrency the way values are often compared to the USD today.

Emphasis on the word eventually. It's a huge change in how commerce works and it cannot happen quickly. Maybe it won't happen, but I think it will.
« Last Edit: January 01, 2018, 01:56:53 PM by Boots »
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th3rm0m3t3r0

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Re: Bitcoin (Main Page)
« Reply #59 on: January 01, 2018, 01:56:46 PM »
It is, though.

Huh?

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Bitcoin isn't even as bloated as it can be, people don't really use it for currency (because it's a terrible currency), and it still has value. I mean, that alone sort of invalidates everything you just said.

Are you retarted? The ONLY reason it has any value is because people use it to buy things, or exchange it for real money. It has 0 intrinsic value because you can't do anything with it. It's just numbers. Its value is set by how much money everyone in the world has spent on it. If people have collectively dumped 1 billion dollars on it and the next month they collectively withdraw 500 million its value drops in half. If they withdraw the rest it doesn't worth anything at all.

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It is better than fiat. It's trustless

I agree, people should not depend on it. It's not trustworthy.

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and digital.

How does that make it better?

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I mean, even as a currency right now BTC could be called better than something like a wire transfer.

Why?

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I'm not really trying to defend BTC, just crypto in general.

Yes, maybe some form of cryptocurrency will become widely accepted in some countries, at some point in the future. Maybe. So?
 
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Again, who?

People are not liking what happened to bitcoin. What are you (allegedly) using to profit? Not many alternatives are actually increasing in value.

Bitcoin is not part of my portfolio.

Right, that's how market's work. Like I said, it's ultimately up to the people.

It's not really a question, trustless transactions will be a necessary and integral part of the automated world.

You should probably actually look into how it works before you down it a whole bunch.

It's better than a wire transfer because the fees are similar, it's faster, and you don't need to trust a bank to middle your money.

What do you mean what happened to Bitcoin? Look past the past month chart and it's always just gone straight up. It crashes regularly and always return to a new all time high. Like I said, it will fail, but something will take its place. Crypto is not going away. That's like implying that the dot com bubble would result in no internet after the burst.


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