Current Events > Bitcoin just hit $6000

(+) Yeah! (+)

wow
---

bump.
---

That's damn insane, but good luck converting bitcoin to actual money though.
---

I cashed out my .01 bitcoin last year for about 5 bucks. It couldve been 60 now :(
---

my boy ARK is back at $3
---

Error1355 posted...

good luck converting bitcoin to actual money though.

What do you mean? Coinbase deposits directly into my bank account.
---

i should have invested everything i own into bitcoin

Error1355 posted...

That's damn insane, but good luck converting bitcoin to actual money though.

it's pretty easy
---

https://farm3.staticflickr.com/2450/3676223822_713fe300a6_z.jpg

HODL boys, we going to $7k!
---

Error1355 posted...

That's damn insane, but good luck converting bitcoin to actual money though.

Bitcoin ATM
---

Error1355 posted...

That's damn insane, but good luck converting bitcoin to actual money though.

You realize for every person buying there is another person selling, right?

Questionmarktarius posted...

https://farm3.staticflickr.com/2450/3676223822_713fe300a6_z.jpg

People have been saying it's a bubble since $1, myself included at one point.

Are you going to say it's still a bubble when it's at $100,000?

clearaflagrantj posted...

Are you going to say it's still a bubble when it's at $100,000?

If it hits that by January, yes.

If you're riding the bubble and make a shitton of money right before it implodes, that's awesome. Just don't stake your future on doing so.

Questionmarktarius posted...

clearaflagrantj posted...

Are you going to say it's still a bubble when it's at $100,000?

If it hits that by January, yes.

If you're riding the bubble and make a shitton of money right before it implodes, that's awesome. Just don't stake your future on doing so.

It's not hitting that by January.

Of course you'll win arguments if you just make up numbers.

clearaflagrantj posted...

Of course you'll win arguments if you just make up numbers.

Didn't you just do that?

My $200 invested is now at $245.

Not bad.
---

Is it worth tossing some "fuckoff money" at the bubble?

Questionmarktarius posted...

Is it worth tossing some "fuckoff money" at the bubble?

I'd say yes. Buy an amount that you won't get too upset over if it all goes to zero.
---

DifferentialEquation posted...

Questionmarktarius posted...

Is it worth tossing some "fuckoff money" at the bubble?

I'd say yes. Buy an amount that you won't get too upset over if it all goes to zero.

I think I'll wait for the bobble to pop, then get in on the rebound.

Questionmarktarius posted...

I think I'll wait for the bobble to pop, then get in on the rebound.

Good luck. What's your buying point going to be then?
---

Man, I've been waiting for it to drop to buy some. It will drop anytime soon, right?
.... right?

krazychao5 posted...

Questionmarktarius posted...

I think I'll wait for the bobble to pop, then get in on the rebound.

Good luck. What's your buying point going to be then?

About fifteen drinks.

GOATTHlEF posted...

Dis is just da craziest tbh. Dat CE user dat is obsessed wit pr0n (moreso den da rest of us) is doing da best of all ce for money dis month.

Yea. Crazy thing is he is still get gifted bitcoin over there. He got 24,000 worth(4 bit coin) yesterday for uploading videos that have been deleted by porn companies that are hard to find. Like those punishment videos in 1080p. The videos when Mr Marcus had syphilis.
---

My $100 investment yesterday is now worth $104 today. I can retire
---

Bitcoin is the biggest bubble since tulips in the 1600s.
---

Damn_Underscore posted...

Bitcoin is the biggest bubble since tulips in the 1600s.

https://www.smithsonianmag.com/history/there-never-was-real-tulip-fever-180964915/

By the way my dude Bitcoin is capped by consensus at a finite number of coins. Tulips aren't. US Dollars aren't. Gold, silver, and other minerals aren't. Perhaps do some research into the thing you're deriding.

*CElutes MagicDonut*
---

Bitcoins don't have any inherent value.

The US dollar has value because the entire country has agreed to use it as a currency.
---

Damn_Underscore posted...

Bitcoins don't have any inherent value.

The US dollar has value because the entire country has agreed to use it as a currency.

agreed. you should stick with your 1% yearly gain stocks while we cryptoboys moon to lamboland
---

Damn_Underscore posted...

Bitcoins don't have any inherent value.

The US dollar has value because the entire country has agreed to use it as a currency.

That's why you convert it to USD or any other currency of your choice.
---

M_Live posted...

I still to this day do not remotely understand bitcoin, what mining is, why it's so CPU intensive or who is using it for what

1. Digital currency/asset

2. Mining is solving mathematical problems to ensure that Bitcoin transactions are valid and recorded, for providing computing power/resources, you are rewarded with a value of Bitcoin

3. Because it's doing a lot of complex math for all of the Bitcoin transactions going on

4. Plenty of small business owners are using Bitcoin, and a lot of people own it as a speculative investment.

Here is what Bitcoin is: Bitcoin is basically a digital gold that has a finite amount and is decentralized. Every bitcoin is part of the digital ledger so nobody can cheat the system and create more bitcoin or fake a transaction, therefore it doesn't require a centralized authority to distribute or control the currency. As an owner of bitcoin you are essentially your own bank.

Right now if I wanted to send you money, I'd have to do a wire transfer or write you a check like it's fucking 1950 and wait 4-5 business days for the money to clear and get into your account. With bitcoin the currency works on its own and is verified within a couple of hours. Also because it's a decentralized digital currency it's not bound to government regulation or exchange laws. If I wanted to move to any fucking country in the world the only thing I'd have to do is pack up my stuff and bring my bitcoin and I'm done. No reporting my money, no paying taxes, no exchanging currencies, it's freedom.

tl;dr it's a powerful force of nature and it's here to stay. Bitcoin and Ethereum are going to change our lives and hopefully dismantle the current banking system.

Damn_Underscore posted...

Bitcoins don't have any inherent value.

The US dollar has value because the entire country has agreed to use it as a currency.

The US Dollar is literally a fiat currency, it too has no inherent value. Look at the German Weimar, look at the Zimbabwean Dollar, turned into useless paper overnight. The government made money out of thin air to bail out the banks that gambled and lost. You can't do that with Bitcoin. Bitcoin is more stable than any government backed currency because it's decentralized and controlled by consensus.

tote_all posted...

Some old dude told me crypto currencies were a pyramid scheme, lol.

I'm sure they said the same thing about the Internet at one point.

"I don't understand it and it seems weird. It must be a scam!"
---

The only reason bitcoin has gone this high is because they government hasnt declared war on it. While the US government can never directly shut it down, it could use anti-money laundering laws to make it virtually impossible to convert to cash. Just remember that this whole thing is always 1 Trump executive order away from collapse.

That shit is the new internet bubble

Remember that shit back in the 90's, when people were investing crazy amounts of money in websites because they kept going up... it will only keep going up they said, you can't lose they said...

...yet when that shit burst most people lost everything
---

tote_all posted...

And yet if any important governments make them illegal they tend to crash.

You cannot make Bitcoin illegal. You can shutdown exchanges and trading websites, but Bitcoin is impossible to make illegal without shutting down the Internet. China has "banned" Bitcoin dozens of times and yet has not impacted Bitcoin's massive bull run.

If anything I'd say making bitcoin "illegal" would hurt in the short term but only help it in the long term, Bitcoin is competing with government backed currencies, and in a fight it will eventually win. Any country that shuns bitcoin will only be left in the dust as other countries embrace it.

jayj350 posted...

That shit is the new internet bubble

Remember that shit back in the 90's, when people were investing crazy amounts of money in websites because they kept going up... it will only keep going up they said, you can't lose they said...

...yet when that shit burst most people lost everything

https://flatworldbusiness.files.wordpress.com/2011/09/dot-com-bubble.jpg

The value of the dot com bubble was $3.7T in 2000 dollars. The current market cap is only $0.173T in TODAY's dollars.

Even then, look at the graph, it's a classic crash into a correction, there is a historical trend. When the dot com bubble popped did Google, Amazon, and the Internet as a whole die with it? No I think it's safe to say they did not.

https://www.youtube.com/watch?v=XbZ8zDpX2Mg

First time I heard about BitCoins was from a call girl about three years ago. After we had sex, we were lying on my bed and I told her to think of something interesting to talk about. She asked me if I've ever heard of BitCoins before. She was a college student at the time.

I said yeah, but I didn't really understand it. She was contemplating investing in it.

To this day, I really hope she did so she will no longer to have be a call girl.

True story.
---