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maker88

sr. member

Activity: 336

Merit: 250

Quote from: B1tc01n5 on August 14, 2014, 05:44:22 PM

Quote from: ?? on ??

Quote from: Richard Branson on August 14, 2014, 05:31:21 PM

Make money? You mean profit in FIAT?
Then you are likeminded as 99% in bitcoin Cool

Just buy low and sell the crap high to some retard believing in it. Works great till now. 50-100x increase in fiat without doing much. Just buy, wait for the bubble and sell high.

Money = fiat?

I had no idea!

I always thought "money" was just a medium of exchange. I had no idea it had to be issued by a government!

You just said you want to make one million dollars in bitcoin

Quote from: Devin Chow on August 14, 2014, 04:32:54 PM

In 6 months, don't be that guy looking in the rearview mirror saying, "I wish I had bought Bitcoin when it was cheaper."

It takes balls to make money. Nobody is going to hand it to you. It's going to require risk...perhaps a lot of risk.

Want to make a million dollars in Bitcoin? YOU'RE GOING TO HAVE TO TAKE SOME RISK.

THE PROFIT IS IN THE UNCERTAINTY. BUY WHEN OTHER PEOPLE ARE UNCERTAIN.

If you're on this forum, there is a 98% chance you're male. USE THAT TESTOSTERONE COURSING THROUGH YOUR VEINS AND MAKE A BOLD DECISION.

People on here are mostly aged 18-35. Goddamnit we're a generation of whiny vaginas.

I blame single-motherhood.

This is the problem with Bitcoin. Yes, cool technology, but it's mostly people trying to make it big then cash out. How can this ever become a real currency, if constantly needs being compared with FIAT currencies to decide the purchasing power of BTC, and BTC/FIAT equivalence is always going up and down? what kind of currency is this?

wtf? all currencies are compared to other currencies. ever heard of the term currency pairs? how else do people come up with a value they understand? hey how much is a chinese yuan worth? about 5.5 euro, well how much is that worth? 8 dollars WELL HOW MUCH IS THAT WORTH?! .4 ounces of silver? 2/3s of 1% of an ounce of gold? explain how to decide the purchasing power or value of an asset WITHOUT comparing it to an amount of currency or other assets.

bigasic

hero member

Activity: 924

Merit: 1000

Back in the day when it fluctuated between 2 and 10 dollars, I couldn't bring myself to buy a lot of coin for fear it would just plummet the next day, I did a lot of day trading, a 30 percent swing a couple times a day happened a lot. I had a little extra money and knew bitcoin would one day go up substantially, but that still didn't convince me to buy thousands of coins. I actually cashed out most of my day trading coins but luckily kept all the coins i mined and purchased a bitcoin worth of litecoin (when bitcoin was 10 bucks, that bought me about 2k litecoins).

Trust me, there are many many of us that "wished I would have bought more bitcoins" or better yet, not sold them when I didn't need to. But, it is what it is, and we should all be grateful for the coins that we do have.

The cost has changed, but the other posters are correct. It takes guts and nerve to invest into something so speculative, but the payoff is huge..(if it works out)

B1tc01n5

newbie

Activity: 28

Merit: 0

Quote from: ?? on ??

Quote from: Richard Branson on August 14, 2014, 05:31:21 PM

Make money? You mean profit in FIAT?
Then you are likeminded as 99% in bitcoin Cool

Just buy low and sell the crap high to some retard believing in it. Works great till now. 50-100x increase in fiat without doing much. Just buy, wait for the bubble and sell high.

Money = fiat?

I had no idea!

I always thought "money" was just a medium of exchange. I had no idea it had to be issued by a government!

You just said you want to make one million dollars in bitcoin

Quote from: Devin Chow on August 14, 2014, 04:32:54 PM

In 6 months, don't be that guy looking in the rearview mirror saying, "I wish I had bought Bitcoin when it was cheaper."

It takes balls to make money. Nobody is going to hand it to you. It's going to require risk...perhaps a lot of risk.

Want to make a million dollars in Bitcoin? YOU'RE GOING TO HAVE TO TAKE SOME RISK.

THE PROFIT IS IN THE UNCERTAINTY. BUY WHEN OTHER PEOPLE ARE UNCERTAIN.

If you're on this forum, there is a 98% chance you're male. USE THAT TESTOSTERONE COURSING THROUGH YOUR VEINS AND MAKE A BOLD DECISION.

People on here are mostly aged 18-35. Goddamnit we're a generation of whiny vaginas.

I blame single-motherhood.

This is the problem with Bitcoin. Yes, cool technology, but it's mostly people trying to make it big then cash out. How can this ever become a real currency, if constantly needs being compared with FIAT currencies to decide the purchasing power of BTC, and BTC/FIAT equivalence is always going up and down? what kind of currency is this?

bassclef

hero member

Activity: 924

Merit: 1000

Quote from: ?? on ??

Quote from: Sir Bitcoin on August 14, 2014, 04:40:21 PM

I first heard of Bitcoin at around $3 and laughed that it was some sort of scam..

In hindsight I now know I should have threw a hundred dollars at it and prayed that it become something.
Although we haven't missed the boat per say.. We certainly missed the easy money train many of the earlier adopters boarded.

You see, that's exactly where your thinking is wrong.

Even at $3, there was an enormous amount of risk involved. Everyone is always saying buying at lower prices was "easy money". It absolutely was not.

Would you buy several hundred dollars of some of these shitty alt coins? No, because you'd have the EXACT same apprehensions as buying Bitcoin in 2011.

Bitcoin was *NEVER* easy money.

Hindsight! I heard about Bitcoin in 2012 sometime when it was around $3. I thought it was cool and I even calculated how many I could mine with a Radeon 4870 (an old video card that hashed at a whopping 100Mh) which was like $5 a month or BTC1.3... not even enough to offset the power. Today you could live off that amount in many places. Ultimately I decided it wasn't worth the trouble and told myself I'd come back to it. Never did until early 2013.

But yeah back then it seemed very risky. You either mined them or sent money to a shady exchange. Both a risky venture. There wasn't the wealth of information available to learn about it, either, and nobody accepted it as payment. So for newcomers there wasn't much reason to invest: Not much information to go on, the community was very small and very nerdy, and the media treated it like a ponzi.

Richard Branson

hero member

Activity: 515

Merit: 506

Screw It, Let's Do It

Quote from: blatchcorn on August 14, 2014, 04:40:43 PM

Nailed it.

Idiots do not deserve to make money

Make money? You mean profit in FIAT?
Then you are likeminded as 99% in bitcoin Cool

Just buy low and sell the crap high to some retard believing in it. Works great till now. 50-100x increase in fiat without doing much. Just buy, wait for the bubble and sell high.

criptix

legendary

Activity: 2464

Merit: 1145

i feel super bullish somehow, hope we gonna see this price range for 1-2 more days so i can buy

kireinaha

sr. member

Activity: 350

Merit: 253

Quote from: ?? on ??

Immigrant remittance, gold "bugs", developing economies with massive inflation in their fiat currencies, ETFs....

..and don't forget the growing black market for drugs online. Illicit drugs are a BILLION dollar business. If 10% of this market were to make it's way to the darknet...holy fuck.

There is so much potential coming from SO many different angles.

Me personally? I saw the immigrant remittance/hedge against inflation for third world currencies potential a long time ago. Give it time and these things WILL become a reality. Western Union, for example, will be gone inside of 10 years if they don't adapt.

Contrary to popular belief, the world doesn't only consist of the US and Europe, where currencies are relatively stable and where we have a "safe" banking sector.

I still have serious doubts whether citizens of third world countries will be hedging against their government issued currencies with bitcoin. Especially given the lackluster performance of it this year. For an average person living in a mud hut or run down apartment in a poor country, it seems much more likely that they'd invest in a "stable" asset such as gold or foreign currencies such as the dollar or euro.

I know that's not a popular view here, but I just don't see poor people putting their money into something that can drop in value so quickly, as we've seen this week.

Remittance... maybe... one day. But for now it's still too difficult and risky to buy the bitcoin, send it, and then have family overseas cash it out. There's still a lot of work to be done in this area.

Benjig

sr. member

Activity: 462

Merit: 250

Quote from: Torque on August 14, 2014, 04:43:39 PM

Quote from: Sir Bitcoin on August 14, 2014, 04:40:21 PM

I first heard of Bitcoin at around $3 and laughed that it was some sort of scam..

In hindsight I now know I should have threw a hundred dollars at it and prayed that it become something.
Although we haven't missed the boat per say.. We certainly missed the easy money train many of the earlier adopters boarded.

..and I'm not sure most people outside of Japan would have either. Send large sums of money via wire transfer to a flaky fly-by-night exchange (Mt.Gox) known for buggy crashes and system outages? No thanks! _{(And now we know how that played out)}

Lol .. that wasnt that hard... even in this forum there ware plenty of ways to get bitcoin even free.. i entered into this in 2013 i dint have the chance but if i had been here in 2012 or 2013 i would have made several bitcoins and not touching mt gox.. bitcoins was used to be given free or for completing some tasks.. or even you could have mined it with your cpu

CoinDiver

hero member

Activity: 778

Merit: 1002

It doesn't feel like it's sinking. Look at the massive amounts of money being pumped in to adoption. Once that's done, the money will get pumped in to BTC for the ride up. I've bought with every spare cent I have. from $850 down to $400. I didn't buy enough at $4. I didn't buy enough at $120. I'm buying anything I can now. Keep panic selling, and I'll keep buying.

kireinaha

sr. member

Activity: 350

Merit: 253

Quote from: blatchcorn on August 14, 2014, 04:40:43 PM

Quote from: ?? on ??

Quote from: kireinaha on August 14, 2014, 04:37:07 PM

Better yet, don't be that guy six months from now laying awake in bed at night asking himself if he should sell what's left of his bitcoin stash for $200 each or hold on, hope for the best, and go down with the ship if necessary.

This ship isn't sinking, though. It only feels like it is.

Any *thinking* person that takes a step back and looks at the current Bitcoin landscape and doesn't see the big picture doesn't deserve to make any money.

Focusing *solely* on price is idiotic.

Nailed it.

Idiots do not deserve to make money

So what's the catalyst for the next bubble? In spring 2013, rumors that it was being used as a hedge during the Cyprus "bail in" was enough to trigger a rally. This gave speculators the impression that bitcoin was just about to become a legitimate alternate currency.

Then in the fall of 2013, we had another rally due to interest from China and the US Senate hearing. This added further legitimacy, because it seemed as if the US government was acknowledging bitcoin as a real thing, and for the first time people were taking notice outside of the Western world. Right on the heels of this came some serious merchant adoption, which fueled even more confidence in the potential.

So now what? We've already seen that further merchant adoption doesn't have much effect on the price. What do you think will come next to boost hope in bitcoin?

Wandererfromthenorth

hero member

Activity: 742

Merit: 500

Quote from: Devin Chow on August 14, 2014, 04:32:54 PM

In 6 months, don't be that guy looking in the rearview mirror saying, "I wish I had bought Bitcoin when it was cheaper."

It takes balls to make money. Nobody is going to hand it to you. It's going to require risk...perhaps a lot of risk.

Want to make a million dollars in Bitcoin? YOU'RE GOING TO HAVE TO TAKE SOME RISK.

THE PROFIT IS IN THE UNCERTAINTY. BUY WHEN OTHER PEOPLE ARE UNCERTAIN.

If you're on this forum, there is a 98% chance you're male. USE THAT TESTOSTERONE COURSING THROUGH YOUR VEINS AND MAKE A BOLD DECISION.

People on here are mostly aged 18-35. Goddamnit we're a generation of whiny vaginas.

I blame single-motherhood.

Calm down dude, nobody is afraid here, we are just trying to rebuy cheaper.

Torque

legendary

Activity: 3710

Merit: 5286

Quote from: Sir Bitcoin on August 14, 2014, 04:40:21 PM

I first heard of Bitcoin at around $3 and laughed that it was some sort of scam..

In hindsight I now know I should have threw a hundred dollars at it and prayed that it become something.
Although we haven't missed the boat per say.. We certainly missed the easy money train many of the earlier adopters boarded.

..and I'm not sure most people outside of Japan would have either. Send large sums of money via wire transfer to a flaky fly-by-night exchange (Mt.Gox) known for buggy crashes and system outages? No thanks! _{(And now we know how that played out)}

blatchcorn

sr. member

Activity: 952

Merit: 281

Quote from: ?? on ??

Quote from: kireinaha on August 14, 2014, 04:37:07 PM

Better yet, don't be that guy six months from now laying awake in bed at night asking himself if he should sell what's left of his bitcoin stash for $200 each or hold on, hope for the best, and go down with the ship if necessary.

This ship isn't sinking, though. It only feels like it is.

Any *thinking* person that takes a step back and looks at the current Bitcoin landscape and doesn't see the big picture doesn't deserve to make any money.

Focusing *solely* on price is idiotic.

Nailed it.

Idiots do not deserve to make money

Sir Bitcoin

member

Activity: 112

Merit: 10

I first heard of Bitcoin at around $3 and laughed that it was some sort of scam..

In hindsight I now know I should have threw a hundred dollars at it and prayed that it become something.
Although we haven't missed the boat per say.. We certainly missed the easy money train many of the earlier adopters boarded.

kireinaha

sr. member

Activity: 350

Merit: 253

Better yet, don't be that guy six months from now laying awake in bed at night asking himself if he should sell what's left of his bitcoin stash for $200 each or hold on, hope for the best, and go down with the ship if necessary.

Devin Chow

newbie

Activity: 53

Merit: 0

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