SHOULD I BUY BITCOINS?

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Re: SHOULD I BUY BITCOINS?
« Reply #60 on: November 13, 2020, 01:03:26 PM »
Sure. But knowing how computers work is a huge advantage when it comes to investing into virtual things, right?
No more than a knowledge of inorganic chemistry would help you invest in gold. Bitcoin is a vehicle for speculation and to a degree a store of value, like gold.   The price goes up, the price goes down.  Place your bets.
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Re: SHOULD I BUY BITCOINS?
« Reply #61 on: November 13, 2020, 01:34:22 PM »
Sure. But knowing how computers work is a huge advantage when it comes to investing into virtual things, right?
No more than a knowledge of inorganic chemistry would help you invest in gold. Bitcoin is a vehicle for speculation and to a degree a store of value, like gold.   The price goes up, the price goes down.  Place your bets.
I tried explaining this to him for 2 pages, but he's a knoe it all first year engineering student  ::)
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FlatAssembler

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Re: SHOULD I BUY BITCOINS?
« Reply #62 on: November 13, 2020, 07:23:04 PM »
Sure. But knowing how computers work is a huge advantage when it comes to investing into virtual things, right?
No more than a knowledge of inorganic chemistry would help you invest in gold. Bitcoin is a vehicle for speculation and to a degree a store of value, like gold.   The price goes up, the price goes down.  Place your bets.
You don't need to know a significant part of organic chemistry to successfully trade with gold or silver, but you need to have some idea about how gold or silver is mined. If, hypothetically, there comes some new technology that enables much more efficient gold or silver mining, better sell all the gold or silver you have, because the price of gold or silver will drop significantly. New silver mining technologies in the 3rd century probably played a large part in the economic collapse of the Roman empire. And new gold mining technologies led to the economic collapse of the 14th century. Investing in gold is, quite literally, betting that there won't be a significant improvement in gold mining technologies soon. That doesn't sound like a very good idea, does it?
Though Bitcoin does not suffer much from the problem of inflation (there can only be 21'000'000 of them), it does suffer from a very similar problem: it promises anonymity to its users, but that can only be achieved if there doesn't come some technology which enables the bad guys to de-anonymize Bitcoin users. And betting on that sounds like an even worse idea, doesn't it?
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Re: SHOULD I BUY BITCOINS?
« Reply #63 on: November 13, 2020, 10:06:09 PM »
Sure. But knowing how computers work is a huge advantage when it comes to investing into virtual things, right?
No more than a knowledge of inorganic chemistry would help you invest in gold. Bitcoin is a vehicle for speculation and to a degree a store of value, like gold.   The price goes up, the price goes down.  Place your bets.
You don't need to know a significant part of organic chemistry to successfully trade with gold or silver, but you need to have some idea about how gold or silver is mined. If, hypothetically, there comes some new technology that enables much more efficient gold or silver mining, better sell all the gold or silver you have, because the price of gold or silver will drop significantly. New silver mining technologies in the 3rd century probably played a large part in the economic collapse of the Roman empire. And new gold mining technologies led to the economic collapse of the 14th century. Investing in gold is, quite literally, betting that there won't be a significant improvement in gold mining technologies soon. That doesn't sound like a very good idea, does it?
Though Bitcoin does not suffer much from the problem of inflation (there can only be 21'000'000 of them), it does suffer from a very similar problem: it promises anonymity to its users, but that can only be achieved if there doesn't come some technology which enables the bad guys to de-anonymize Bitcoin users. And betting on that sounds like an even worse idea, doesn't it?

Anonymity is not the crux of alternative currency like bitcoin. Simple supply and demand is.

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Re: SHOULD I BUY BITCOINS?
« Reply #64 on: November 13, 2020, 10:21:52 PM »
Sure. But knowing how computers work is a huge advantage when it comes to investing into virtual things, right?
No more than a knowledge of inorganic chemistry would help you invest in gold. Bitcoin is a vehicle for speculation and to a degree a store of value, like gold.   The price goes up, the price goes down.  Place your bets.
You don't need to know a significant part of organic chemistry to successfully trade with gold or silver, but you need to have some idea about how gold or silver is mined. If, hypothetically, there comes some new technology that enables much more efficient gold or silver mining, better sell all the gold or silver you have, because the price of gold or silver will drop significantly. New silver mining technologies in the 3rd century probably played a large part in the economic collapse of the Roman empire. And new gold mining technologies led to the economic collapse of the 14th century. Investing in gold is, quite literally, betting that there won't be a significant improvement in gold mining technologies soon. That doesn't sound like a very good idea, does it?
Though Bitcoin does not suffer much from the problem of inflation (there can only be 21'000'000 of them), it does suffer from a very similar problem: it promises anonymity to its users, but that can only be achieved if there doesn't come some technology which enables the bad guys to de-anonymize Bitcoin users. And betting on that sounds like an even worse idea, doesn't it?

So because you know how gold is mined, the guys inventing a new technology will immediately email you afterwards so you can sell your stock in time?
Yeah, sure, kiddo  ;)
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You have received a warning for breaking the laws of mathematics.

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Bullwinkle

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Re: SHOULD I BUY BITCOINS?
« Reply #65 on: November 13, 2020, 10:38:11 PM »
Bitcoin is a crime that has yet to be defined.

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FlatAssembler

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Re: SHOULD I BUY BITCOINS?
« Reply #66 on: November 14, 2020, 12:19:40 AM »
Sure. But knowing how computers work is a huge advantage when it comes to investing into virtual things, right?
No more than a knowledge of inorganic chemistry would help you invest in gold. Bitcoin is a vehicle for speculation and to a degree a store of value, like gold.   The price goes up, the price goes down.  Place your bets.
You don't need to know a significant part of organic chemistry to successfully trade with gold or silver, but you need to have some idea about how gold or silver is mined. If, hypothetically, there comes some new technology that enables much more efficient gold or silver mining, better sell all the gold or silver you have, because the price of gold or silver will drop significantly. New silver mining technologies in the 3rd century probably played a large part in the economic collapse of the Roman empire. And new gold mining technologies led to the economic collapse of the 14th century. Investing in gold is, quite literally, betting that there won't be a significant improvement in gold mining technologies soon. That doesn't sound like a very good idea, does it?
Though Bitcoin does not suffer much from the problem of inflation (there can only be 21'000'000 of them), it does suffer from a very similar problem: it promises anonymity to its users, but that can only be achieved if there doesn't come some technology which enables the bad guys to de-anonymize Bitcoin users. And betting on that sounds like an even worse idea, doesn't it?

Anonymity is not the crux of alternative currency like bitcoin. Simple supply and demand is.
What does "crux" mean? As far as I know, that's the Latin word for "cross", so what you are saying makes no sense.
Fan of Stephen Wolfram.
This is my parody of the conspiracy theorists:
https://www.theflatearthsociety.org/forum/index.php?topic=71184.0

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FlatAssembler

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Re: SHOULD I BUY BITCOINS?
« Reply #67 on: November 14, 2020, 12:21:11 AM »
Sure. But knowing how computers work is a huge advantage when it comes to investing into virtual things, right?
No more than a knowledge of inorganic chemistry would help you invest in gold. Bitcoin is a vehicle for speculation and to a degree a store of value, like gold.   The price goes up, the price goes down.  Place your bets.
You don't need to know a significant part of organic chemistry to successfully trade with gold or silver, but you need to have some idea about how gold or silver is mined. If, hypothetically, there comes some new technology that enables much more efficient gold or silver mining, better sell all the gold or silver you have, because the price of gold or silver will drop significantly. New silver mining technologies in the 3rd century probably played a large part in the economic collapse of the Roman empire. And new gold mining technologies led to the economic collapse of the 14th century. Investing in gold is, quite literally, betting that there won't be a significant improvement in gold mining technologies soon. That doesn't sound like a very good idea, does it?
Though Bitcoin does not suffer much from the problem of inflation (there can only be 21'000'000 of them), it does suffer from a very similar problem: it promises anonymity to its users, but that can only be achieved if there doesn't come some technology which enables the bad guys to de-anonymize Bitcoin users. And betting on that sounds like an even worse idea, doesn't it?

So because you know how gold is mined, the guys inventing a new technology will immediately email you afterwards so you can sell your stock in time?
Yeah, sure, kiddo  ;)
No, but if you are aware of the current gold mining technologies, you can predict the next major breakthrough in it.
Fan of Stephen Wolfram.
This is my parody of the conspiracy theorists:
https://www.theflatearthsociety.org/forum/index.php?topic=71184.0

Re: SHOULD I BUY BITCOINS?
« Reply #68 on: November 14, 2020, 03:42:15 AM »
Sure. But knowing how computers work is a huge advantage when it comes to investing into virtual things, right?
No more than a knowledge of inorganic chemistry would help you invest in gold. Bitcoin is a vehicle for speculation and to a degree a store of value, like gold.   The price goes up, the price goes down.  Place your bets.
You don't need to know a significant part of organic chemistry to successfully trade with gold or silver, but you need to have some idea about how gold or silver is mined.
No you don't.  Gold trading is gambling.  The long term price for 20 years has just been up, but on a week by week basis it moves randomly.  At some point the price will start going down - nobody knows when.

Quote
If, hypothetically, there comes some new technology that enables much more efficient gold or silver mining, better sell all the gold or silver you have, because the price of gold or silver will drop significantly.
Except it doesn't work like that.  The price of gold drives production, the higher the price the more exploration and more mines that are opened.  Look at the price in real terms since 1970 - technology has just got better - how does it map to price



Anyway, if you are trading and think the price will go down, then you bet on the price going down and make money.

Quote
New silver mining technologies in the 3rd century probably played a large part in the economic collapse of the Roman empire.
Absolute nonsense.  Roman silver coins famously became debased during the crisis, they weren't rolling around in silver, quite the opposite.  They were running out of silver so they had to start cutting their coins with cheaper metals (at it's worst they contained no silver).  Silver was draining out of Europe during this period and the Empire was getting poorer.

Quote
And new gold mining technologies led to the economic collapse of the 14th century.
What?  Presumably you are thinking about the gold that came back from the New World in the 15th century?  Not really sure what economic collapse you are referring to?    They did have the the Great Famine then the Black Death in 14c Europe, things weren't so good then....

Quote from: mikeman7918
a single photon can pass through two sluts

Quote from: Chicken Fried Clucker
if Donald Trump stuck his penis in me after trying on clothes I would have that date and time burned in my head.

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Re: SHOULD I BUY BITCOINS?
« Reply #69 on: November 14, 2020, 03:57:37 AM »
Sure. But knowing how computers work is a huge advantage when it comes to investing into virtual things, right?
No more than a knowledge of inorganic chemistry would help you invest in gold. Bitcoin is a vehicle for speculation and to a degree a store of value, like gold.   The price goes up, the price goes down.  Place your bets.
You don't need to know a significant part of organic chemistry to successfully trade with gold or silver, but you need to have some idea about how gold or silver is mined. If, hypothetically, there comes some new technology that enables much more efficient gold or silver mining, better sell all the gold or silver you have, because the price of gold or silver will drop significantly. New silver mining technologies in the 3rd century probably played a large part in the economic collapse of the Roman empire. And new gold mining technologies led to the economic collapse of the 14th century. Investing in gold is, quite literally, betting that there won't be a significant improvement in gold mining technologies soon. That doesn't sound like a very good idea, does it?
Though Bitcoin does not suffer much from the problem of inflation (there can only be 21'000'000 of them), it does suffer from a very similar problem: it promises anonymity to its users, but that can only be achieved if there doesn't come some technology which enables the bad guys to de-anonymize Bitcoin users. And betting on that sounds like an even worse idea, doesn't it?

So because you know how gold is mined, the guys inventing a new technology will immediately email you afterwards so you can sell your stock in time?
Yeah, sure, kiddo  ;)
No, but if you are aware of the current gold mining technologies, you can predict the next major breakthrough in it.
Sure, being aware of current gold mining technology allows you to predict the future. Why dont you just quickly read into it, then build your predicted device yourself and then get rich?
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You have received a warning for breaking the laws of mathematics.

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Stash

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Re: SHOULD I BUY BITCOINS?
« Reply #70 on: November 14, 2020, 12:44:35 PM »
Sure. But knowing how computers work is a huge advantage when it comes to investing into virtual things, right?
No more than a knowledge of inorganic chemistry would help you invest in gold. Bitcoin is a vehicle for speculation and to a degree a store of value, like gold.   The price goes up, the price goes down.  Place your bets.
You don't need to know a significant part of organic chemistry to successfully trade with gold or silver, but you need to have some idea about how gold or silver is mined. If, hypothetically, there comes some new technology that enables much more efficient gold or silver mining, better sell all the gold or silver you have, because the price of gold or silver will drop significantly. New silver mining technologies in the 3rd century probably played a large part in the economic collapse of the Roman empire. And new gold mining technologies led to the economic collapse of the 14th century. Investing in gold is, quite literally, betting that there won't be a significant improvement in gold mining technologies soon. That doesn't sound like a very good idea, does it?
Though Bitcoin does not suffer much from the problem of inflation (there can only be 21'000'000 of them), it does suffer from a very similar problem: it promises anonymity to its users, but that can only be achieved if there doesn't come some technology which enables the bad guys to de-anonymize Bitcoin users. And betting on that sounds like an even worse idea, doesn't it?

Anonymity is not the crux of alternative currency like bitcoin. Simple supply and demand is.
What does "crux" mean? As far as I know, that's the Latin word for "cross", so what you are saying makes no sense.

As far as I know, there's a thing called a dictionary.

crux
/krəks,kro͝oks/
noun
the decisive or most important point at issue.
"the crux of the matter is that attitudes have changed"

I thought you were a linguist?

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Bullwinkle

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Re: SHOULD I BUY BITCOINS?
« Reply #71 on: November 14, 2020, 09:13:28 PM »
the crux of the biscuit is the apostrophe

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Re: SHOULD I BUY BITCOINS?
« Reply #72 on: November 16, 2020, 11:11:52 AM »
DNS' ultra accurate price prediction says that btc will go TO THE MOON



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Stash

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Re: SHOULD I BUY BITCOINS?
« Reply #73 on: November 16, 2020, 02:47:11 PM »
DNS' ultra accurate price prediction says that btc will go TO THE MOON



Let's hope it goes to the moon. It has before. 10 year trend:


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Bullwinkle

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Re: SHOULD I BUY BITCOINS?
« Reply #74 on: November 16, 2020, 03:34:04 PM »
20 bitcoins on red.

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Re: SHOULD I BUY BITCOINS?
« Reply #75 on: November 16, 2020, 09:02:37 PM »
DNS' ultra accurate price prediction says that btc will go TO THE MOON



Let's hope it goes to the moon. It has before. 10 year trend:


Seems quite predictable.
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Stash

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Re: SHOULD I BUY BITCOINS?
« Reply #76 on: November 16, 2020, 09:30:56 PM »
DNS' ultra accurate price prediction says that btc will go TO THE MOON



Let's hope it goes to the moon. It has before. 10 year trend:


Seems quite predictable.

To an extent. You just want to be the person who bailed at the top in 2018 and not at the bottom.

Re: SHOULD I BUY BITCOINS?
« Reply #77 on: November 17, 2020, 05:05:56 AM »
It's predictable until it isn't.
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Re: SHOULD I BUY BITCOINS?
« Reply #78 on: November 17, 2020, 09:44:15 AM »
It's predictable until it isn't.

I was in that biz a few years ago. I knew a bunch of traders. Commodities trading is for those with an unearthly intestinal fortitude. Currency trading requires that and copious amounts of anti-anxiety meds. The volatility, risk v reward is absolutely unnerving.

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Re: SHOULD I BUY BITCOINS?
« Reply #79 on: November 17, 2020, 10:17:50 AM »
I mean trading is one of the most unethical things you can do, you literally just get rich by other people losing money whilst NOT doing anything productive for society.
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Re: SHOULD I BUY BITCOINS?
« Reply #80 on: November 19, 2020, 12:31:18 PM »
DNS' ultra accurate price prediction says that btc will go TO THE MOON

Very accurate prediction, well done sir!
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Re: SHOULD I BUY BITCOINS?
« Reply #81 on: November 22, 2020, 12:11:04 AM »
DNS' ultra accurate price prediction says that btc will go TO THE MOON

Very accurate prediction, well done sir!

I feel like the btcs might go down for a bit now. I sold 2/3 of my trade, making huge profits (even if btc would go to 0 now). I still have 1/3 in case it keeps going to the moon.
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faded mike

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Re: SHOULD I BUY BITCOINS?
« Reply #82 on: November 23, 2020, 07:16:34 PM »
I say yes, uninformedly.
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Re: SHOULD I BUY BITCOINS?
« Reply #83 on: November 23, 2020, 10:23:30 PM »
Its gonna go up again within the next hours. I am too lazy to trade it tho.
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Re: SHOULD I BUY BITCOINS?
« Reply #84 on: November 24, 2020, 10:10:49 AM »
Its gonna go up again within the next hours. I am too lazy to trade it tho.
It went up 800 or so. As always, my prediction was accurate.
Quote from: croutons, the s.o.w.
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Re: SHOULD I BUY BITCOINS?
« Reply #85 on: November 24, 2020, 10:12:14 AM »
DNS' ultra accurate price prediction says that btc will go TO THE MOON

Very accurate prediction, well done sir!

I feel like the btcs might go down for a bit now. I sold 2/3 of my trade, making huge profits (even if btc would go to 0 now). I still have 1/3 in case it keeps going to the moon.
That one was accurate, too, it dropped about 900 after I made it.
So far I think not one prediction was wrong.
Quote from: croutons, the s.o.w.
You have received a warning for breaking the laws of mathematics.

Re: SHOULD I BUY BITCOINS?
« Reply #86 on: November 26, 2020, 12:06:18 PM »
Presumably you spotted the 12% crash and made enough money to retire from shorting it? 

I guess you must have just forgotten to post it here.   ::)
Quote from: mikeman7918
a single photon can pass through two sluts

Quote from: Chicken Fried Clucker
if Donald Trump stuck his penis in me after trying on clothes I would have that date and time burned in my head.

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Re: SHOULD I BUY BITCOINS?
« Reply #87 on: November 26, 2020, 12:50:32 PM »
No it was impossible to predict. I though sold after half the drop with only +220% p&l.
Quote from: croutons, the s.o.w.
You have received a warning for breaking the laws of mathematics.

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Stash

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Re: SHOULD I BUY BITCOINS?
« Reply #88 on: November 26, 2020, 01:11:33 PM »
No it was impossible to predict. I though sold after half the drop with only +220% p&l.

Can you trade in fractions or only whole coins? What sort of exchange do you use? Is there one or are there many?

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Re: SHOULD I BUY BITCOINS?
« Reply #89 on: November 26, 2020, 01:26:56 PM »
No it was impossible to predict. I though sold after half the drop with only +220% p&l.

Can you trade in fractions or only whole coins? What sort of exchange do you use? Is there one or are there many?
You trade in fractions. I use bybit for trading, and coinbase pro for everything else. There are tons of trading platforms etc.
Quote from: croutons, the s.o.w.
You have received a warning for breaking the laws of mathematics.