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Utopia Talk / Politics / Bitcoins (ot)
Nimatzo
iChihuaha
Sun Jul 02 04:15:52
Who here has money in it? Either bitcoins themselves or certificates? I have some money in certificates up 300%.

The value has rushed this past year, but I am guessing there is still a major upside left.

What say you?
jmpfce2
Member
Sun Jul 02 08:03:03
Cloudstrife has some i thought

Last few months have been crazy for holders of cryptocoins

And Bitcoin has some steam left im sure, there is so much you can buy with bitcoins..

But i actually have very little , just converting some others to bitcoin when needed


MrPresident07
Member
Sun Jul 02 09:25:10
I bought 2 in 2013. I hate myself.
MrPresident07
Member
Sun Jul 02 09:25:41
Ethereum is the better (long term) bet though.
jmpfce2
Member
Sun Jul 02 11:08:45
^

ETH is not bad , but if you have some $ to gamble and want to bet besides BTC i would buy a few XMR

when the huge ETH mining army will go look for something else i expect XMR to go up significantly
jmpfce2
Member
Sun Jul 02 11:26:46
feeling pretty safe broadcasting my XMR transactions by VPN in Nigeria to shapeshift.io
Hrothgar
Member
Sun Jul 02 11:58:06
All I know is that in 2008 when I first heard of bit coin, and checked out how to buy it, it was 2 - 5 bucks a coin or so.

Hrothgar
Member
Sun Jul 02 11:58:56
And I didn't buy any because it seemed so non-nonsensical.
MrPresident07
Member
Mon Jul 03 12:17:03
"when the huge ETH mining army will go look for something else i expect XMR to go up significantly"

I'll have to check XMR out. Is it more of a currency like BTC or is it modeled after ETH (multi-purpose)?
jmpfce2
Member
Wed Jul 05 15:50:02
http://getmonero.org/

its more a currency like BTC
murder
Member
Wed Jul 05 16:17:06

Considering the results of our stock market games, I'm not sure this is the place to ask for investing advice.

If you want mine, take your profits and run and don't worry about what it does after you're out.

kilo
Member
Fri Jul 07 19:28:12
I didn't because it seemed like monopoly money to me.
Daemon
Member
Wed Jul 12 03:45:00
http://www...ves-higher-cryptocurrency.html

Digital currency ethereum crashes below $200 to hit 40-day low; down 50 percent since all-time high

One ether token hit an interday low of $192.22, according to industry and price tracking website Coinmarketcap, which takes into account the price on several exchanges.

The cryptocurrency has now fallen more than 50 percent since registering all-time highs of over $400 in early June.
jmpfce2
Member
Sat Jul 15 10:16:16
About 6 months ago ETH was about 10$ each so this decline is not unexpected.

And most coins take a hit so if you were looking for an entry point this could be not far from it.

The total market nearly doubled in the last months with about 40 billion $ added as big banks and hedge funds entered the market. i dont think they did a hit and run.
Dukhat
Member
Sat Jul 15 11:05:07
My friend convinced me to buy $10000 of bitcoin near launch. That's how I afforded my first boat which I resold to get this: http://www...ous-models/hallberg-rassy-45/.

That's what happens when you take advantage of globalism instead of whining about it.
Dukhat
Member
Sat Jul 15 11:05:30
Also fiscal conservatism. The reason I'm a republican.
obaminated
Member
Sat Jul 15 11:24:22
Why dukhat, you must be immensely successful. Surely you have other pictures to provide proof of your bragpost? Otherwise let me be the first (of I'm sure many) you will call you immensely desperate and pathetic to claim you own a boat and only provide a generic website of the model as proof that it is yours.
obaminated
Member
Sat Jul 15 11:27:40
Who will call you immensely desperate*
Dukhat
Member
Sat Jul 15 14:34:38
I have no need to prove shit to you neckbeards. I already posted what I do for a living and my old boat a long time ago. Once you get successful you h ave no need to prove jack shit to anyone.
obaminated
Member
Sat Jul 15 15:18:19
I don't think you resold a boat to get one of those yachts. Cuckhat, money, like having a big dick, is not something you need to bring up when you have it. But you always bring yours up.
Dukhat
Member
Sat Jul 15 15:45:35
I never actually bring it up anymore. A boat costs the same as a house which any man in their 30's should be able to afford. If you can't afford one, then you should probably go study and get a good job instead of wasting time posting racist things online.
obaminated
Member
Sat Jul 15 15:49:34
Nah. You always bring it up. If someone disagrees with you it's because they are poor. You project a lot. It's kind of sad how obvious it is.
murder
Member
Sat Jul 15 18:47:54

"What say you?"

Nimatzo: Well ... wtf did you decide?

Dukhat
Member
Sat Jul 15 19:01:27
Sorry kiddo, you're racist because you're racist, not because I'm projecting.

It made you so jealous to know I own a boat you came into thread crap.

As for the original thread, I wouldn't jump into any cryptocurrency now that the big boys (Hedge FUnds and the like are in). You just can't compete with their big data guys.
obaminated
Member
Sat Jul 15 19:39:57
Share a picture of your yacht cuckhat, surely you have a picture?
obaminated
Member
Sat Jul 15 19:44:08
Also, why do you keep calling me racist? I've been making fun of your passive racism, not adopting it.
Nimatzo
iChihuaha
Mon Jul 17 03:23:01
I don't think you are the right person to question the "wonderful and successful life" of others Mr Hollywood. Don't shoot RPGs in the glass palace.
Nimatzo
iChihuaha
Mon Jul 17 03:24:24
In other news I just bought a Gulfstream G600.
Dukhat
Member
Mon Jul 17 09:28:52
That's an excellent private plane.
TJ
Member
Mon Jul 17 11:21:05
hahaha

I suppose it is at G600: $54.5M

I just purchased a 26 solar led downlight for the top of my 17 foot flag pole.
obaminated
Member
Mon Jul 17 11:25:14
I've used my Hollywood money and used it to install gold plating on my outdoor and indoor pools.
MojoCujo
Member
Mon Jul 17 11:30:49
Fuck all of you!
Daemon
Member
Thu Jul 20 06:11:54
http://www...en/?lgl=rira-baseline-vertical

A "critical" vulnerability in Parity Wallet's variant of the standard multi-sig contract has resulted in 153,000 ETH, equivalent to approximately $31 million, being stolen from several projects, including Edgeless Casino, Aeternity, and Swarm City.

A security alert was issued by Parity Technologies on Wednesday. Users with assets in a multi-sig wallet created in Parity Wallet prior to 19/07/17 23:14:56 CEST were affected, and single user wallets remained unaffected. Parity Technologies advised users to move assets contained in the multi-sig wallet to a secure address.

A press release from Swarm City read, “At approximately 12:30 PM ET Bernd Lapp, Business Hive leader noticed that the entire contents of the Swarm City ETH multi-sig wallet had been drained. Bernd checked the receiving address and noticed a few very large transactions had hit the same wallet. We alerted the Ethereum Foundation and multiple developer groups immediately.” Swarm City lost about 44,055 ETH because of the breach.

Parity founder and CTO Gavin Wood wrote, “There is an effort by the foundation underway to secure funds in other wallets to prevent any further compromises; they will make an announcement in their own time.”

As per an update by Parity Technologies on July 20, 2017, 00:26 CEST, the future multi-sig wallets created by versions of Parity are secure.

The incident is another setback for the Ethereum community. CoinDash was recently hacked during its Initial Coin Offering schedule on July 17, which resulted in a loss of approximately $7 million in Ether. (See also: ICO Hackers Steal $7 Million of Ether)

Initial Coin Offering (ICO) is the new way to raise capital in the cryptocurrency world. It is used by startups to bypass the rigorous and regulated capital-raising process required by venture capitalists or banks. In an ICO campaign, a percentage of the cryptocurrency is sold to early backers of the project in exchange for legal tender or other cryptocurrencies, but usually for Bitcoin.

While on one hand, cryptocurrencies, especially Bitcoin and Ethereum,​ are gaining mainstream attention and investment, such incidents always add apprehension among investors, dampening the mood in the community. These incidents bring into focus the challenges that lie ahead and raise the constant need to up security protocols.
The Children
Member
Thu Jul 20 06:19:58
hey lookie look what i just found. nimatzo braggin about his winnings but lol

http://fortune.com/2017/07/17/bitcoin-crash/

LOLOLOLOLOL!!!!!

there is justice!

Nimatzo
iChihuaha
Sat Aug 12 07:58:08
http://coinmarketcap.com/currencies/bitcoin/

LOL TC, did you buy any bitcoins during the "crash" or not?
Nimatzo
iChihuaha
Sat Aug 12 09:21:41
Buy now TC, there is still time bitcoin will be valued 500 000 USD soon. Buy 1 bitcoin today and in 3-4 years you can realize your dreams of moving to china and opening a noodle stand.
Dukhat
Member
Sat Aug 12 09:31:56
Crashes happen all the time in emerging markets. It doesn't matter if a currency "crashes" if you bought when Bitcoin was in the double digits in value which was only a few years back.

TC probably bought near the high and got trounced. Sorry son, leave the investing to the big boys.
Nimatzo
iChihuaha
Sat Aug 12 09:40:14
I have decided to sell my Bitcoin certificate and buy real bitcoins and put some money on ETH as well. I was put off because it seemed like a hassle to set up a wallet and maintain security, but turns out it wasn't.
Asgard
Member
Sun Aug 13 01:59:59
question:

Where do I buy Bitcoin and/or Etherium?
A reliable place.
Muhammad
Member
Sun Aug 13 02:13:35
rofl little Asgard wants to buy on a high.
MrPresident07
Member
Sun Aug 13 10:19:50
Asgard-

Coinbase is the best. You can buy Bitcoin, Ethereum, and Litecoin.
Nimatzo
iChihuaha
Mon Aug 14 05:12:22
I am using coinbase as well, seems to be one of the mainstream options. Though I also have copay on iPhone and PC, so that I have my own wallet. I was alittle worried about the bitcoin split so I thought I would want my own wallet, but the split happened and nothing happened before I bought any bitcoins so most likely I wont use the wallet.

First batch of ETH bought. So many different crypto. if anyone feels like gambling and potentially 1000x their money. I will stick with bitcoin, ETH and maybe some Litecoin, these are the 3 largest.
The Children
Member
Mon Aug 14 05:37:44
burn motherfuckers, burn!

jmpfce2
Member
Tue Aug 15 07:16:46
Where is Cloustrife, he should have made a killing by now

And if you want to learn what Plausible deniability means for you i would recommend to buy some XMR as it is the only real used coin that has iT
Hot Rod
Revved Up
Tue Aug 15 07:23:43

He's using a multi now. I guess you are too since I have never seen you before.

HOT niggarod
Member
Tue Aug 15 08:53:48
you have , maybe i was too boring to remember:)
Nimatzo
iChihuaha
Fri Sep 01 17:34:06
4900 USD.
Daemon
Member
Wed Sep 13 11:35:36
Listen to the experts!

http://www...an-cryptocurrency-drug-dealers

Bitcoin is a fraud that will blow up, says JP Morgan boss

Jamie Dimon claims cryptocurrency is only fit for use by drug dealers, murderers and people living in North Korea
...
swordtail
Anarchist Prime
Thu Sep 14 11:18:47
http://jesuscoin.network/
swordtail
Anarchist Prime
Thu Sep 14 11:18:59
http://www.bananacoin.io/
swordtail
Anarchist Prime
Thu Sep 14 11:19:29
http://westeroscoin.com/en/
swordtail
Anarchist Prime
Thu Sep 14 11:20:00
http://christcoins.io/
Forwyn
Member
Thu Sep 14 12:33:35
"You can’t have a business where people can invent a currency out of thin air and think that people who are buying it are really smart."

Trades in fiat

kek
Nimatzo
iChihuaha
Sat Sep 16 05:36:43
Tsunami level volatility the past week. The Chinese ban has taken it's toll. Time to buy more :)
The Children
Member
Sat Sep 16 06:56:56
kid, u got burned and we all warned ur stupid ass 2. fuckin golden. someone save this thread.

swordtail
Anarchist Prime
Thu Sep 21 10:27:49
Jamie Dimon Faces Market Abuse Claim Over "False, Misleading" Bitcoin Comments


http://www...se-misleading-bitcoin-comments
murder
Member
Thu Sep 21 11:53:20

Bitcoin is a scam. It's no different than house flipping and the .com bubble. It's value is derived primarily from the belief that another even bigger sucker will come along and bail you out.

It's useless. It is backed by noone.

Nimatzo
iChihuaha
Thu Sep 21 13:18:22
It's actually backed by _everyone_ that uses it.
Forwyn
Member
Thu Sep 21 13:55:11
"It's useless. It is backed by noone."

Probably has USD in his wallet
murder
Member
Fri Sep 22 01:25:47

Of course I have USD in my wallet. Every sane person and government has USD and wants more of it.

murder
Member
Fri Sep 22 01:27:19

"It's actually backed by _everyone_ that uses it."

So no one then?
Nimatzo
iChihuaha
Fri Sep 22 03:27:21
It may be hard for you to understand how crowd sourcing works, since you are old and dumb ;) Bitcoin is built around everyone (everyone who runs a full node and anyone with an internet connection and fit computer technically can) having a full copy of the entire state of bitcoin. Every time there is a change and more coin is added or transfers are made everyone updates their ledger. So the longterm stability of bitcoin relies on how many people use it. Everyone using and mining bitcoin is accepting, supporting and "backing" the system. The fundamental value of bitcoin is rooted in scarcity (basic supply and demand) that is achieved digitally at the cost of energy.
LazyCommunist
Member
Fri Sep 22 04:00:18
Bitcoin is an anarchist currency out of control, that's why great China will forbid the usage.
murder
Member
Fri Sep 22 06:04:40

So noone then? Nobody is backing it. Randos don't count. And hardly anyone uses it.

When no one is willing to accept your fake money for goods and services, Billy Bob who "mined" it sure as fuck isn't going to make you whole.

The only reason this shit hasn't gone bust yet is that few people actually try to spend it. People either hoard it hoping to ride the bubble, or trade it to secure their profits before the shithole implodes.

Are you spending your bitcoin? Of course not, you are riding the bubble.

How YOU use it should tell you all you need to know about it's future.

Nimatzo
iChihuaha
Fri Sep 22 06:18:57
Explaining this to you could have been a great marx brothers sketch.

Everyone!
Noone?
Everyone!
So... noone?

You are excused of course since wetbacks are notorious for their poor english. Hello, good bye, I clean pool now? You can make a good living with just that!
Nimatzo
iChihuaha
Fri Sep 22 06:30:08
People have invested (national banks included) in currency and day trade currencies and other commodities as we spesk. So nothing new is going on.

The first houses and cars have been bought with bitcoin, you can buy giftcards at amazon and so on, so adoption is growing.

I understand this all may seem scary to you grampa and of course nothing is certain and bitcoin is a risky investment, but it isn't risky because "noone is backing it". Financial endevours with the backing of states and global conglamerated fail all the time. The risk in bitcoin is how the technical obstacles will be solved and in general it is not certain that bitcoin will be The Cryptocurrency of the future. A big risk is that what happened in China could happen else where. Though I think it is improbable as some states have put some portions of their currency reserve in bitcoin.


Nimatzo
iChihuaha
Sun Nov 26 02:55:33
9100 usd

Just a week ago when btc was at 7000 some shmoe asked me, pff who is stupid enough to jump on this bitcoin thing now? I don’t think people have understood that btc will be what gold was, a place to store value. From that pov the current 160 billion market cap is chump change.
jergul
large member
Sun Nov 26 03:11:40
Quote profit on realization. Has the wolf of wallstreet taught you nothing?

Seems I have a fraction of a bitcoin. I mined for a bit way back when. Yay.

The margin between electricity cost and bitcoin value is still good. Bitcoin mining is now equal to country 75 in electricity consumption.

http://digiconomist.net/bitcoin-energy-consumption
Daemon
Member
Sun Nov 26 03:18:11
"I don’t think people have understood that btc will be what gold was, a place to store value."

You can hang a btc around your neck?
http://geology.com/minerals/gold/uses-of-gold.shtml
"About 78% of the gold consumed each year is used in the manufacture of jewelry."
jergul
large member
Sun Nov 26 03:19:55
heh, I could still make decent money on bitmining during the winter months.

Assumptions:

Hardware replacement after 3 years
8 month mining season
Thermal waste heats home (bathroom placement)
Low electricity costs in general (2/3ds the cost of EU average).

jergul
large member
Sun Nov 26 03:20:54
Gold is not consumed by manufacturing jewelry.
Daemon
Member
Sun Nov 26 03:24:58
The point is that gold has a value that btc can never have.
jergul
large member
Sun Nov 26 03:38:48
I think I was underlining your point.

I wonder how noisy those bitminers are. I should find a product sheet. It has to be less than the dryer.

But I think in general I have a foolproof plan good for say 1000 bucks a year at current bitcoin value.

Which of course is a flaw in the plan. Its not a lot of money.
Dukhat
Member
Sun Nov 26 03:45:29
Bitcoin is cool but as a currency, but it's only profitable in the long run for investors who understand all the factors that affect its value. Wall street hedge funds have joined the bitcoin game with their financial quants. And a huge portion of bitcoin is still used as currency for crime.

For most people, trading in bitcoin is gambling. Gamblers can definitely make money in the short term but long term almost certainly not.

Mining is a different beast because the hardware holds value over time and you're not trading; you're producing. But returns from mining are more modest than trading due to all the market entry.

In other words, congratulations. I hope you know when to quit.
jergul
large member
Sun Nov 26 03:47:00
70 dB for the S9 model. Too much. 60 is ok. So wait for 12nm technology.

Procrastination. Yay!
Nimatzo
iChihuaha
Sun Nov 26 03:55:23
That ”value” of gold is replaced by anything shiny. The shiny factor of gold has historically only contributed to gold becoming the vessel to store value, it has very little impact on the actual value of gold. We use gold in electronics, that is real world ”use” of gold.

I am posting these numbers for all you dinosaurs still talking about hanging value around your neck and ”realizing” profits. Do you old fuck also still go to the bank to pay your bills? Read fake news in the news _paper_? LOL!

I will post results in juli 2018.

jergul
large member
Sun Nov 26 03:55:38
Dukhat
The problem from how I see it is low volume and much noise. Technology must mature.
jergul
large member
Sun Nov 26 03:59:55
Nimi
Gold is the benchmark for storing wealth. It supports bitcoin by association.
jergul
large member
Sun Nov 26 04:01:40
Bitcoin can actually be viewed as part of an energy brokerage system (cheap state power in china being internationalized by way of bitcoin).
jergul
large member
Sun Nov 26 04:11:23
http://new...n-mining-to-a-whole-new-level/

Dukhat
Member
Sun Nov 26 04:15:46
Gold isn't that important to the world economy anymore. Part of the great depression was caused by the gold standard which did not create enough currency in circulation for the rapidly growing global economy. Many countries directed their policy towards protecting their gold reserves from depletion rather than towards maintaining full employment.

This is why libertarians who talk constantly about the gold standard sound like naive idiots (did somebody say ron paul?)

History lesson aside bitcoin has more to do with fiat money than it does with gold. People desire a universal currency that crosses borders and avoids transaction costs and that has sustained demand so far.

But there are a lot of complex factors that affect both supply and demand that is not publically available.

I got a little lucky with bitcoin but exited relatively early with my profit. I started to have too much to lose and I didn't really understand the market. A few of my friends lost everything especially the idiots that were involved with the silk road illicit trade.

I just do normal investing now because it's a good skill to learn and there are so many structures that encourage it (401k caps and the like). I do have a small server that I have kept mining not really to make money but more as a fun side project to tinker with and learn what I can.

Bitcoin is very exciting especialky when yiu are making money but if and when it starts getting big enough to draw more attention (especially as used for a vehicle for tax avoidance); I think its glory days will end. But ride it out for now. Why not?
jergul
large member
Sun Nov 26 07:13:09
Or ensure taxation. A ledger follows ever bitcoin fraction. States could easily demand taxation compliance for purchases done in their jurisdiction.

Creation tax is given on government utility taxes (you pay vat for electricity, you pay vat on any bitcoin you create).

Nimatzo
iChihuaha
Mon Nov 27 03:07:01
Long term I believe crypto is here to stay, which crypto, who knows. Bitcoin is the largest atm. Btc is now the 30th largest currency, the total cryptomarket has now passed Visa in marketcap. Institutional money is now exploding into btc. I believe the upside is a no brainer medium term 1-3 years. Who, how, when and why the bubble will blow is a big IF for me. I don’t know that this is a bubble and not a paradigm shift in how we store value.

Oversight and regulation is a necessity for this to work in ty future. I am not buying into illicit money fears. To the extent that such fears are true during some short time frame this money will be dwarfed by the money in hedge funds and banks that are now pouring in.

18000 usd during 2018 :)

I have put my money where my mouth is, jergul ;)

jergul
large member
Mon Nov 27 05:35:55
Nimi
Two bit coins. Nice. But you still have to realize the profits for it to count as money.

The spread between costs and revenue is huge right now (for the s9). A bit bubbly, but self-adjusting even without price change.

I will put 3k (or whatever) in when 10 nm technology is available. This is simply a dB consideration. 70 is too high.
jergul
large member
Mon Nov 27 06:28:04
My advice is to view bitcoins as a venture capital investment in energy brokerage.

A 2-5 year investment horison is reasonable from that perspective.

Diversification midpoint (to other cryptocurrencies) would likely be sound. Particularly when remembering bitcoin is an evolving protocol (say like a net browser. It is hard to know what is chrome and what is netscape. Only time and the Communist Party of China will tell).

Nimatzo
iChihuaha
Mon Nov 27 12:23:19
18000 usd is my prediction for the price of 1 btc.
jergul
large member
Mon Nov 27 13:04:09
Ah, yes. Predictions. I cannot find fault in doing that :).
Nimatzo
iChihuaha
Mon Nov 27 13:15:20
18K by 2K18

The symmetry in numbers alone is hard evidence of what a great prediction this is. Virtually almost idiot proof, most of the time eventually and perhaps maybe.

:)

jergul
large member
Mon Nov 27 13:47:17
Absolutely a valid simplification to keep the discussion going.
Forwyn
Member
Mon Nov 27 13:57:06
Put the gains into temporal projection tech R&D and buy more shares in 2010 at $.30
Forwyn
Member
Mon Nov 27 13:57:26
And by shares, I mean BTC, derppppp
Billah
Member
Mon Nov 27 17:17:17
I Really Really wish I had bought some of these when I first heard of them but didnt take them seriously and they were under $100, or years later when I heard of them again and people were excited because they were passing $500.
jergul
large member
Tue Nov 28 15:40:41
I just noticed you can use bitcoins on steam.
Hrothgar
Member
Tue Nov 28 21:03:03
XRP from the company Ripple is the only crypto I can get a solid view of what it's actually objective is and is built with capability for scaling to global levels of ultra fast use.

The rest of the largest crypto world seems to be hinged on hope and greed with relatively tiny amounts being used to buy anything. Just hordes of people trading it back and forth on exchanges. And most struggle to answer how the tech will continue functioning properly when huge organizations and banks theoretically use it constantly akin to fiat currency. Bitcoin and it's spinoffs (which are somewhat more efficient) are already facing very slow transactions (how long it takes to send them from one wallet to another) and big fees surrounding those transactions.

I think Etherium is the other option with the most capability for large global scale use, but it lacks a lot of the focus of XRP (use by international banks).

So I've bought a few hundred dollars worth of the XRP crypto and will sit on it/forget it for a few years and see what happens.

Bitcoin's main advantage seems to be that it was first.
jergul
large member
Wed Nov 29 03:40:22
Hrothgar
Nice post. It does matter that bitcoins can be used on steam however.
earthpig
GTFO HOer
Thu Nov 30 02:11:17
Aaaaaaaaaand now everyone wants to use their bitcoin for down payments, but it all looks like laundered drug money to a mortgage underwriter because it's "anonymous" and the PATRIOT Act happened.
jergul
large member
Thu Nov 30 04:06:13
White washing legislation is under the Patriot Act?

Besides, it probably is drug money.
jergul
large member
Thu Nov 30 04:07:57
Anyway, its a stupid problem. Its like asking for a mortgage and insisting on using Canadian dollars on the downpayment.

Convert the fuckers.
Average European
Member
Thu Nov 30 12:05:05
It's OVER NINE THOUSSSSSSAAAAAAAAAAAAANNNNND!!!
earthpig
GTFO HOer
Fri Dec 01 02:52:51
> Anyway, its a stupid problem. Its like asking for a mortgage and insisting on using Canadian dollars on the downpayment.

That's actually fine. Canadian banks have normal bank statements. Do it all the time.
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