Poll of the Day > My friend made $100k in bitcoin this month.

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CountessRolab
05/26/17 1:53:43 AM
#1:


He quit his job a couple months ago to join a bitcoin startup and just hired his first employee. Personally, I think it is super reckless and bitcoin is BS, but you cant really criticize him when he is posting numbers like that.
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CountessRolab
05/26/17 1:55:05 AM
#2:


Bitcoin price this month:

pK9xP1n
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xjayguyx
05/26/17 1:57:14 AM
#3:


Bitcoin is dumb. Only used for illegal activities. I see it getting hacked bad or just going away one day due to no one trusting it.

I still to this day have no idea how the mining works or why anyone even cares about it.

1 ounce of pure gold is less $ than 1 bitcoin right now.. lmao okay.
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FatalAccident
05/26/17 1:57:20 AM
#4:


lol u mad u aint get to see any of that dough bruh
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CountessRolab
05/26/17 1:59:54 AM
#5:


FatalAccident posted...
lol u mad u aint get to see any of that dough bruh


Nah, I wouldnt touch bitcoin. Waaaaay too risky. My friend first got in back when it was at $300
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xjayguyx
05/26/17 2:01:06 AM
#6:


Lol I have a video game collection worth at least 50k and have 5 cars and 1 truck and my own house. Not mad I don't have some made up 0's and 1's on my HD.
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CountessRolab
05/26/17 2:02:08 AM
#7:


xjayguyx posted...
Lol I have a video game collection worth at least 50k and have 5 cars and 1 truck and my own house. Not mad I don't have some made up 0's and 1's on my HD.


Active Posts: 2
I am sure you do.
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CountessRolab
05/26/17 2:02:38 AM
#8:


Lifetime price of bitcoin. There are people out there getting rich off this.

8lO6Mvt
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xjayguyx
05/26/17 2:03:14 AM
#9:


Nope I lied I just have a 1TB HD maxed out full of bitshitcoins
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Smarkil
05/26/17 2:03:20 AM
#10:


xjayguyx posted...
Lol I have a video game collection worth at least 50k and have 5 cars and 1 truck and my own house. Not mad I don't have some made up 0's and 1's on my HD.


Yeah and you're married to a supermodel too.
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argonautweakend
05/26/17 2:05:33 AM
#11:


Actually no, he isn't.

His cock is 12 inches long though.

done seent and confirmt it
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Zeus
05/26/17 2:05:55 AM
#12:


xjayguyx posted...
Bitcoin is dumb. Only used for illegal activities


To be fair, illegal activities can be extremely lucrative.
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xjayguyx
05/26/17 2:06:00 AM
#13:


Some of my retro games have increased better in value than bitcoin lol. I will laugh one day that stupid made up fantasy currency dies and is worth jack squat. Only reason its high is because rich chinese and others are buying it up. People should stop using it for what ever it is people use it for and stick it to those richys.
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xjayguyx
05/26/17 2:07:39 AM
#14:


Wow you people think I'm making up what I have? Average normal people stuff man get a job and you can have stuff too. Lol
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wwinterj25
05/26/17 2:08:45 AM
#15:


xjayguyx posted...
Lol I have a video game collection worth at least 50k and have 5 cars and 1 truck and my own house. Not mad I don't have some made up 0's and 1's on my HD.

Yeah well I have a penis!
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argonautweakend
05/26/17 2:09:28 AM
#16:


Is it particularly big...or noteworthy like topic makers 12 inch cock ive seen to confirm?
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wwinterj25
05/26/17 2:10:35 AM
#17:


argonautweakend posted...
Is it particularly big...or noteworthy like topic makers 12 inch cock ive seen to confirm?

Yeah man. 1inch of pure meat!
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aHappySacka
05/26/17 2:42:31 AM
#19:


What I'm about to say is from my own knowledge and I could be flat out wrong so don't take it too seriously.


xjayguyx posted...
Bitcoin is dumb. Only used for illegal activities. I see it getting hacked bad or just going away one day due to no one trusting it.

Why is Bitcoin worth anything?

Short answer: there's demand for it

Longer answer: there's essentially a finite amount of it as getting more is very difficult, not to mention it's untraceable and secure so it can be used as payment to anyone who accepts it which is mainly why it's valuable.


As for it going away, it's like asking for real life currency to go away and we don't like in the Star Trek universe you know.



I still to this day have no idea how the mining works or why anyone even cares about it.
If I remember right, every single Bitcoin has a very complicated and specific ID to make it valid, essentially acting like DNA when you take the right combinations of amino acids to turn it into something that isn't useless goop.

Mining works by using countless code writing processes to put together and generate this "DNA" and some more processes to see if they're claimed or not, and if they're not then that's a free Bitcoin you have made out of thin air all in your pocket. And no, knowing the code of someone else's Bitcoin isn't enough to steal it as you still need a 256 character code to access it.

Now it sounds easy to make them but it literally takes entire rooms full of servers to have enough CPU power to actually do this so it comes very slowly, and I answered your last point before.



1 ounce of pure gold is less $ than 1 bitcoin right now.. lmao okay.

If you were an alchemist and could make gold using lead (even if it's a little bit every time) then you sure as hell aren't going to dig for it, not to mention one is a resource and the other is a type of currency so apples to oranges.
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helIy
05/26/17 2:53:56 AM
#20:


and i'm sure his power bill is going to be more than twice that
the amount of machines you have to run to pull that off is in the triple digits, and they're power hungry motherfuckers.
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Magus 10
05/26/17 2:55:34 AM
#21:


xjayguyx posted...
I still to this day have no idea how the mining works or why anyone even cares about it.


https://en.wikipedia.org/wiki/Proof-of-work_system
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Mario_VS_DK
05/26/17 3:00:22 AM
#22:


xjayguyx posted...
I see it getting hacked bad or just going away one day due to no one trusting it.


Not really possible the way it's designed. You would have to basically somehow simultaneously hack tens of thousands of computers at once and change all their logs since the beginning of Bitcoin in order to do so.

Either that or EMP the entire world, but I think there would be more pressing matters if that happened.
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Gradieus
05/26/17 4:00:49 AM
#23:


He'd make more just buying monthly calls of AAPL and AMZN.
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Philoktetes
05/26/17 4:06:55 AM
#24:


is there actually a way to cash out of bitcoin yet, or does he just have 100k of internet points
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TheCyborgNinja
05/26/17 4:28:43 AM
#25:


xjayguyx posted...
Bitcoin is dumb. Only used for illegal activities. I see it getting hacked bad or just going away one day due to no one trusting it.

I still to this day have no idea how the mining works or why anyone even cares about it.

1 ounce of pure gold is less $ than 1 bitcoin right now.. lmao okay.

Risk/reward, but I agree. One bad scandal and it'll fade into obscurity.
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twitterfriends
05/26/17 7:42:44 AM
#26:


Overstock
TigerDirect
NewEgg
Dish Network
Expedia

All accept Bitcoin payments - nothing illegal about those websites. Bitcoin or the technology behind it is going to be future.
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chaosbowser
05/26/17 7:42:55 AM
#27:


TheCyborgNinja posted...
xjayguyx posted...
Bitcoin is dumb. Only used for illegal activities. I see it getting hacked bad or just going away one day due to no one trusting it.

I still to this day have no idea how the mining works or why anyone even cares about it.

1 ounce of pure gold is less $ than 1 bitcoin right now.. lmao okay.

Risk/reward, but I agree. One bad scandal and it'll fade into obscurity.


It's use in illegal transactions makes this less likely.
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TES_Nut
05/26/17 8:04:47 AM
#28:


The buy in to build a competitive mine is insane these days.
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helIy
05/26/17 8:13:55 AM
#29:


TheCyborgNinja posted...
xjayguyx posted...
Bitcoin is dumb. Only used for illegal activities. I see it getting hacked bad or just going away one day due to no one trusting it.

I still to this day have no idea how the mining works or why anyone even cares about it.

1 ounce of pure gold is less $ than 1 bitcoin right now.. lmao okay.

Risk/reward, but I agree. One bad scandal and it'll fade into obscurity.


one bad one?

you ever heard of the silk road?
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Cacciato
05/26/17 8:18:40 AM
#30:


xjayguyx posted...
Some of my retro games have increased better in value than bitcoin lol. I will laugh one day that stupid made up fantasy currency dies and is worth jack squat. Only reason its high is because rich chinese and others are buying it up. People should stop using it for what ever it is people use it for and stick it to those richys.

Lmao, who the fuck is this goofball
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helIy
05/26/17 8:19:55 AM
#31:


yeah idk but he sounds like a 12 year olds idea of how to act cool
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Sarcasthma
05/26/17 8:32:07 AM
#32:


Cacciato posted...
xjayguyx posted...
Some of my retro games have increased better in value than bitcoin lol. I will laugh one day that stupid made up fantasy currency dies and is worth jack squat. Only reason its high is because rich chinese and others are buying it up. People should stop using it for what ever it is people use it for and stick it to those richys.

Lmao, who the fuck is this goofball

I was going to make fun of him but then he said he has $50k in video games and now I know he's a cool guy.
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FellWolf
05/26/17 8:52:35 AM
#33:


Actually it can't be hacked
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Smarkil
05/26/17 11:16:42 AM
#34:


helIy posted...
yeah idk but he sounds like a 12 year olds idea of how to act cool


Are you implying that he doesn't have video games that went up in value by 2000 dollars? Come on helly, don't be silly. He's obviously legit.
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MICHALECOLE
05/26/17 12:28:54 PM
#35:


xjayguyx posted...
I will laugh one day that stupid made up fantasy currency dies and is worth jack squat.

This can be said of all currency
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Doctor Foxx
05/26/17 12:35:35 PM
#36:


CountessRolab posted...
Lifetime price of bitcoin. There are people out there getting rich off this.

8lO6Mvt

Your friend only got in a few months ago? That's buying high
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InfestedAdam
05/26/17 12:41:30 PM
#37:


How well does Bitcoin exchange for real world money and how well is it backed? I read an article suggesting if you bought $100 worth 7+ years ago it might be worth $72 million now but how easily is that converted into real world money? Or is it meant more to purchase goods and services with?
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Gamechamp3k
05/26/17 1:02:04 PM
#38:


I had like 80 bucks in bitcoin from a while back. Now it's worth 300 bucks.

Here's hoping it's just a magic uphill climb to infinity~
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Gamechamp3k
05/26/17 1:03:23 PM
#40:


InfestedAdam posted...
How well does Bitcoin exchange for real world money and how well is it backed? I read an article suggesting if you bought $100 worth 7+ years ago it might be worth $72 million now but how easily is that converted into real world money? Or is it meant more to purchase goods and services with?

There are plenty of websites dedicated to exchanging Bitcoin for real world currency. Not sure how difficult it would be to exchange that high volume of bitcoin though.
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CountessRolab
05/26/17 1:05:53 PM
#41:


Gradieus posted...
He'd make more just buying monthly calls of AAPL and AMZN.


Options speculation is arguably even stupider than buying bitcoin.
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CountessRolab
05/26/17 1:07:27 PM
#42:


Doctor Foxx posted...
CountessRolab posted...
Lifetime price of bitcoin. There are people out there getting rich off this.

8lO6Mvt

Your friend only got in a few months ago? That's buying high


No, he got in at $300 and has been constantly buying ever since.
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sveksii
05/26/17 1:17:16 PM
#43:


If you invested $1000 back in 2010 it'd be worth around 35m today.
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spooky96
05/26/17 1:50:04 PM
#44:


Wow the rejection of bitcoins, calling it dumb/BS makes PotD really bad and ignorant.
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Doctor Foxx
05/26/17 2:07:46 PM
#45:


CountessRolab posted...
No, he got in at $300 and has been constantly buying ever since.

Ahh.

But can you cash out bitcoin now? Or still no?
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Gradieus
05/26/17 5:30:35 PM
#46:


CountessRolab posted...
Gradieus posted...
He'd make more just buying monthly calls of AAPL and AMZN.


Options speculation is arguably even stupider than buying bitcoin.


Not at all. You just don't know how to do it properly. Beats having 200k+ in bitcoin.
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JTekashiro
05/26/17 6:03:29 PM
#47:


xjayguyx posted...
Some of my retro games have increased better in value than bitcoin lol. I will laugh one day that stupid made up fantasy currency dies and is worth jack squat. Only reason its high is because rich chinese and others are buying it up. People should stop using it for what ever it is people use it for and stick it to those richys.


Do you mean proportionally? Because the list of games that sell in the $2500+ range is pretty darn short. Additionally, the price of retro video games has been dropping. I say this as somebody who actually has several video game dealing friends, not as somebody who posts random lies on the internet.
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CountessRolab
05/26/17 11:05:23 PM
#48:


Gradieus posted...
CountessRolab posted...
Gradieus posted...
He'd make more just buying monthly calls of AAPL and AMZN.


Options speculation is arguably even stupider than buying bitcoin.


Not at all. You just don't know how to do it properly. Beats having 200k+ in bitcoin.


LMAO
As someone with a degree in finance and who has been trading since I was 17, I find that statement hilarious. Excluding covered calls, unless you are using options to hedge portfolio risk, you might as well just go to vegas (or buy bitcoin).
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JOExHIGASHI
05/26/17 11:13:54 PM
#49:


People got rich in the dot com bubble too
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Gradieus
05/27/17 11:53:08 AM
#50:


CountessRolab posted...
Gradieus posted...
CountessRolab posted...
Gradieus posted...
He'd make more just buying monthly calls of AAPL and AMZN.


Options speculation is arguably even stupider than buying bitcoin.


Not at all. You just don't know how to do it properly. Beats having 200k+ in bitcoin.


LMAO
As someone with a degree in finance and who has been trading since I was 17, I find that statement hilarious. Excluding covered calls, unless you are using options to hedge portfolio risk, you might as well just go to vegas (or buy bitcoin).


Maybe you should go back to school then. 200k in bitcoin is grade A moron.
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CountessRolab
05/27/17 1:23:14 PM
#51:


Gradieus posted...
CountessRolab posted...
Gradieus posted...
CountessRolab posted...
Gradieus posted...
He'd make more just buying monthly calls of AAPL and AMZN.


Options speculation is arguably even stupider than buying bitcoin.


Not at all. You just don't know how to do it properly. Beats having 200k+ in bitcoin.


LMAO
As someone with a degree in finance and who has been trading since I was 17, I find that statement hilarious. Excluding covered calls, unless you are using options to hedge portfolio risk, you might as well just go to vegas (or buy bitcoin).


Maybe you should go back to school then. 200k in bitcoin is grade A moron.


And putting $200k in a monthly derivative contract that will expire worthless in 3 weeks unless there is a massive upswing in the market is better? Give me a break.
That is stupid on a normal day, but even worse in the currently overvalued climate.
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Gradieus
05/27/17 1:40:13 PM
#52:


CountessRolab posted...
Gradieus posted...
CountessRolab posted...
Gradieus posted...
CountessRolab posted...
Gradieus posted...
He'd make more just buying monthly calls of AAPL and AMZN.


Options speculation is arguably even stupider than buying bitcoin.


Not at all. You just don't know how to do it properly. Beats having 200k+ in bitcoin.


LMAO
As someone with a degree in finance and who has been trading since I was 17, I find that statement hilarious. Excluding covered calls, unless you are using options to hedge portfolio risk, you might as well just go to vegas (or buy bitcoin).


Maybe you should go back to school then. 200k in bitcoin is grade A moron.


And putting $200k in a monthly derivative contract that will expire worthless in 3 weeks unless there is a massive upswing in the market is better? Give me a break.
That is stupid on a normal day, but even worse in the currently overvalued climate.


Why would you put all of 200k into monthly calls when the potential for return is far greater? Massive uptick? Since when is 1% massive?

Spoken like someone who doesn't know what they're talking about. Also lmao at the 25% drop in bitcoin in a week.
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