On Topic Bitcoin is way up.


blakbearddelite

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I've read at least two articles on Bitcoins, and I still don't understand why they are valuable. Looks like I'll need to read it once again...
 
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Here is what I own. Given to me by coinbase for when I opened my account.

0.003 BTC
$7.91

BTW, BTC is up 89% since one month ago today. Man I missed the boat on this one. But I still feel for my friend who had 48 BTC and sold them at $200 a piece.
 

Chester Copperpot

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I've read at least two articles on Bitcoins, and I still don't understand why they are valuable.
This is my biggest hang up. How can this crypto currency have "value" and that value is sky rocketing absolutely wildly? There's gonna be a stopping point or a massive crash at some point. It's value doesn't just appear because because. Maybe I'm missing something as well.
 

Mike K

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This is my biggest hang up. How can this crypto currency have "value" and that value is sky rocketing absolutely wildly? There's gonna be a stopping point or a massive crash at some point. It's value doesn't just appear because because. Maybe I'm missing something as well.
It has value because people say it has value. It's no different than the dollar really.
 
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This is my biggest hang up. How can this crypto currency have "value" and that value is sky rocketing absolutely wildly? There's gonna be a stopping point or a massive crash at some point. It's value doesn't just appear because because. Maybe I'm missing something as well.
Because of the volatility, this is the kind of commodity that you day trade. You do not stay in it for long. You could probably make $100 just today on one, then pull out before the close. And at this rate over the last money, you would have been able to make probably $3k.
 

sickmint79

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I've read at least two articles on Bitcoins, and I still don't understand why they are valuable. Looks like I'll need to read it once again...
it's an alternative currency and like all currency (well mostly) the value is set by supply and demand.

the problem with it is that it has the real potential to disrupt things, but it needs people to actually use it as a currency to stick around and be worth anything.

some (large) amount of people in the market simply buy/hold/speculate on it like magic beans, which is why it is so volatile, it could drop $1000 tomorrow. i like the idea and the currency although it's hard to say what it will really be worth since so many people treat it like a lottery instead of a currency.
 

Chester Copperpot

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some (large) amount of people in the market simply buy/hold/speculate on it like magic beans, which is why it is so volatile, it could drop $1000 tomorrow. i like the idea and the currency although it's hard to say what it will really be worth since so many people treat it like a lottery instead of a currency.
You read my mind.

And I completely agree with your comment [MENTION=396]Mike K[/MENTION] but with so many sweaty internet nerds doing exactly what other Mike said, what's it's REAL value? Bottom could drop the fuck out tonight at a bitcoin per dollar like one of those stock schemes you were talking about in your thread and suddenly it's 2008 for the internet. Those trolls inflated the price, "sold" off their coins and now the retards buying at $2400 are left holding the bag for worthless "currency".

Shit's hot fire.
 

Mook

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TCG Coin is going to be on the rise.
 
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You read my mind.

And I completely agree with your comment [MENTION=396]Mike K[/MENTION] but with so many sweaty internet nerds doing exactly what other Mike said, what's it's REAL value? Bottom could drop the fuck out tonight at a bitcoin per dollar like one of those stock schemes you were talking about in your thread and suddenly it's 2008 for the internet. Those trolls inflated the price, "sold" off their coins and now the retards buying at $2400 are left holding the bag for worthless "currency".

Shit's hot fire.
I'd agree with this for all those other knock off coins like lite and dodg, but btc is here to stay. At what value is the question. But not that its accepted retail, it will be around for a long time.
 

sickmint79

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I'd agree with this for all those other knock off coins like lite and dodg, but btc is here to stay. At what value is the question. But not that its accepted retail, it will be around for a long time.
doge was started as a joke. kind of funny internet money. lite was started to try and address some btc shortcomings though. i know one way people think of it is like gold/silver although i don't think that's the greatest analogy. i think of btc as the granddaddy and it/others competing for actual use cases as a currency when their individual features actually matter, like a transaction completing more quickly. note there's also ethereum now which has much more central control (they actually rolled back the system after a major theft occurred) - seen as a good/bad feature by currency crypto nerds (bad if you want zero central control, of course)
 

Mike K

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You read my mind.

And I completely agree with your comment [MENTION=396]Mike K[/MENTION] but with so many sweaty internet nerds doing exactly what other Mike said, what's it's REAL value? Bottom could drop the fuck out tonight at a bitcoin per dollar like one of those stock schemes you were talking about in your thread and suddenly it's 2008 for the internet. Those trolls inflated the price, "sold" off their coins and now the retards buying at $2400 are left holding the bag for worthless "currency".

Shit's hot fire.
Totally agree which is why I didn't buy any when it was cheaper. I regret not buying as much as I regret not buying a lottery ticket because I feel like that's what it is. At least with stocks I can pretend like I have a real reason to buy.
 

Lord Tin Foilhat

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That is the only reason I haven't gotten into it. You can get into Bitcoin and buy it easily, but can't use it in many places and turning it back into cash is a nightmare and zero gaurentees or reliability. Lose your Bitcoin wallet login info and you lose everything lol

The next problem is explaining it to regular people to even get an interest going. Even people in IT don't understand how it works.
 
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That is the only reason I haven't gotten into it. You can get into Bitcoin and buy it easily, but can't use it in many places and turning it back into cash is a nightmare and zero gaurentees or reliability. Lose your Bitcoin wallet login info and you lose everything lol

The next problem is explaining it to regular people to even get an interest going. Even people in IT don't understand how it works.
Open a coin base account. You can do everything from there.
 

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Bitcoins have been fluctuating for a few years now. Last year around this time I was able to double my money then it just tanked.

I don't think you can use Coinbase in the states anymore, but there are other options. It's really good for those shady purchases our government frowns upon.
 

sickmint79

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That is the only reason I haven't gotten into it. You can get into Bitcoin and buy it easily, but can't use it in many places and turning it back into cash is a nightmare and zero gaurentees or reliability. Lose your Bitcoin wallet login info and you lose everything lol

The next problem is explaining it to regular people to even get an interest going. Even people in IT don't understand how it works.
i lost some early mined stuff (was probably at $2) cuz a hd failed and i didn't back dick up.

i bet a ton of bitcoin holders can't even explain to you what it is because they simply bought it to buy and hold like that lottery ticket.
 

sickmint79

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Until it's government backed, I see it going nowhere
which is of course the opposite of the intent of bitcoin.

although i've heard some governments have flirted with the idea of starting their own crypto currency, which i find surprising and hard to believe. it would certainly be less bitcoin and more ethereum though.
 

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