Bitcoin

It works by people using a shit ton of electricity to 'mine' it and then they sell it or use it like you would a currency. I loathe it because I care about green policies and because it's libertarian shit that's mostly used for drugs, trafficking, money laundering, etc.

This is bitcoins

You'll want to know more when Muriel starts making you pay your access dues by Bitcon.

I never understood what the whole deal about electricity and "mining" was about.

The mining thing is just how bitcoin is created, meaning that no-one has the power to print it. Having said that, I think that if it got big enough, it would end up being mostly in the hands of a few, very rich people anyway - there are already bitcoin 'whales' who own a lot of it - wouldn't that be a form of centralised power anyway. Speaking of governments anyway, I think that if bitcoin got big enough, governments would have the power to regulate it anyway, because governments control the military, police and laws, which you can't get away from if you live under their jurisdiction.

A big problem with bitcoin is that transactions are very slow and cost more on top, which is why so few transactions are made with it aside from the black market. No consumer protections too. This is why it's never taken off for buying a coffee, paying for a bill or similar, because it's so inefficient and slow compared to Visa who can process millions of transactions per minute. Bitcoin can't even handle the transactions that a single average-sized supermarket processes every hour, everyone would be waiting for ages. Blockchain is unnecessary and is still like a solution without a problem.

If you lose or forget the password to access your bitcoin wallet or die without giving it to someone, that bitcoin is gone forever. There's the huge volatility of it which makes it not very useful - if you can't know whether it'll be worth four hundred dollars or a thousand dollars from this month to the next.. Most people seem to be buying it to speculate, to 'get rich quick', not to genuinely use it as a currency.

This seems like a dumb hipster idea to me.

IIRC, there was a large bitcoin repository in Japan. The other large one is in Europe. These are alternatives to keeping them on an iPhone or your personal computer that can die, or get lost, or broken, thus losing your money.

Someone hacked the Japanese repository a few years back, and stole all the bitcoins. All of them. It was the equivalent of millions of dollars, maybe billions, I’m not sure. Gone. The repository just declared bankruptcy. There was no insurance or recourse.

They didn’t hack the European repository, I think, because that might have essentially meant most bitcoins were stolen, and thus invalidating the currency.

I wish I bought in, early. I thought about it as a fun gamble. But no. I did not.

I think it’s used for illegal activity because it is not monitored. There’s no $10,000 limit on international transfers like there is with US dollars. I think other currencies have similar limits on such transfers or cash brought in/out of the country. So, it’s better for money laundering.

Pierre, it's funny because every time I read a story about how a repository was hacked and crypocurrency stolen, I wonder if it was an inside job. That kind of thing is going to be very hard to prove and there are plenty of those stories! It's basically like the Wild West out there. A lot of scammy stuff going on due to there being a lack of regulations unlike the stock market, say. The less said about Tether the better..

Anyway, r5...

Creepazoid Bryan Singer associate Brock Pierce is heavily involved with Bitcoin.

A friend of mine flips some Bitcoin for income.

Sounds like speculating, though.

He's not getting rich from it since he also drives for Uber.

I still do not understand.

The “mining” business serves a few purposes, but it’s basically a computer program that people run, and after a while, all that effort of running the program produces a bitcoin, then they repeat the effort to get more. The longer the currency exists, the harder it is to get a bitcoin from the computer effort. Eventually it will stop issuing new coins. This keeps the currency “rare”, it’s worth “high”, and inflation low.

Think of it as IOUs that are widely accepted. Criminals like it, because it helps them launder money. It is not regulated and can be transferred from high-tax to no-tax areas without anyone knowing. As long as people agree to accept the coins for financial transactions, it has value. It has whatever value people, collectively, agree it has.*

*This is, incidentally, the way commerce words. Pork bellies; orange juice futures (if there is such a thing); wheat futures; etc, are all traded and have whatever value the traders agree they have.

It’s also how most currency works. The Dollar and Pound “float”, meaning that their value changes during trading hours on international trading markets. Depending on all sorts of things, the value goes up up down. But ultimately, they have whatever value that people agree they have. They are not backed by gold or silver.

Rent the movie “Rogue Trader” to see an entertaining way of learning how it works. True story: Apparently the Japanese Yen fell after the Kobe earthquake in the 1990s. The anti-hero “bet” that the Yen would go up, using his bank’s money. He doubled down, etc, and the Yen didn’t recover in time. His bank then went bankrupt. Second oldest trading bank in Europe undone by one man and poor management.

And here’s a lesson, any fool can make money when the market is going up. You need only be invested during a bull market and enjoy the ride. But it takes a pro not to lose their shirt when the market turns down. Because the fool will not have hedged his investments for just such an event, while the pro will have taken some precautions of some kind.

R12, does that explain it well enough?

So when people tell me they've "invested" in Bitcoin, is it similar to "futures?"

R14, I think all that means is they bought bitcoin with the hope that the value rises. It’s not like a company with underlying value. Apple is at $280 today. That is supposed to reflect the value of the company. But only as long as people buy their products, right? Suppose, magically, that it becomes gauche to own Apple products, their price will fall. Maybe to $140. They have property, factories, and considerable cash in the bank that will maintain some value, excepting le deluge. So, you invest in Apple and own a piece of their company, a physical thing with some, varying underlying value, no matter what.

I don’t know enough about futures to compare and contrast the two. But, it’s like any commodity, even collectible dolls. If people want dolls and value them, they will pay for them, trade for them, and hoard them. Then, when a blip happens, their value crashes. Bennie babies were actually bought as investments years ago, I recall.

One difference between Bitcoin and a company with a physical product is that there is no property, factories and so forth with Bitcoin.

It is something anyone with a brain will buy before it is too late. It has gone up about three grand since OP wrote this.

BTCis the currency of the future. Remember when ppl thought it was sooooooo stupid when others said that someday ppl will shop from the internet? Well.............one will NOT need any credit cards, all stores will be self serve and there will be NO cashiers, or machines. One will walk right out and the BTC will be transferred instantaneously to the merchant. Bank on it. One BTC will be worth many many many thousands of dollars. Not a fantasy, a fact.

I understand a certain moose likes bitcoin.

[quote]The “mining” business serves a few purposes, but it’s basically a computer program that people run, and after a while, all that effort of running the program produces a bitcoin, then they repeat the effort to get more.

This doesn’t make sense. Where does the bitcoin come from? Is it hidden all over the world and people have to find it like a scavenger hunt?

[quote] Where does the bitcoin come from?

It doesn't exist. It doesn't come from anywhere and it doesn't go anywhere.

R20, what do you mean it does not exist? It is a digital currency. Just like the currency you use when you use a debit card. Most money is digital right now. It is already transactional. And if you are going to use FIAT as a tangible currency...what exactly is it worth? In other words, what backs IT???

Nope. Not getting sucked into your cult. There is no physical existing in material reality bitcoin. You cannot touch it with your hands. I'm not talking about what backs it or what it's worth.

R22. Ok Boomer. Know this-it is the future. Whether you realize it or not.

[quote] Ok Boomer. Know this-it is the future. Whether you realize it or not.

You are being an ass.

OP Google Ponzi scheme for a broad overview

And you, R24 are being an ignorant luddite that has absolutely NO clue about BTC and yet you are creating an opinion based on your ignorance. So, really..who is the ass in this?

[quote] So, really..who is the ass in this?

Still you. I said a bitcoin can't be held in your hand. Which is true and shows no bias against Bitcoin. And you decided all sorts of untrue things about me.

Because you are an ass.

R25, BTC has gone up since it's inception. Every high is higher than the last. Yes, it is basically the goldrush. But NO. Not at all a Ponzi scheme. But, you clearly have NO idea how the tech works. If you knew anything at ALL about BTC, you would not call it a scheme of any kind. You do realize that there are well over 30 major companies and hundreds of smaller companies that accept BTC?

R27, so what if you cannot hold it in your hand???? And, I would rather be an ass than a dick with no brain.

It’s mostly used for drugs, money laundering, the dark web, and other illegal activity. Stay away.

Um, R30?That was literally years ago. As if it is the ONLY mechanism used for those things. Jesus. It is also accepted at many major companies and enterprises, lol. WTF. Are you 100?

[quote] so what if you cannot hold it in your hand????

The response was to a question about where a Bitcoin comes from. And was explaining that it wasn't a material item. It wasn't an argument about the value of Bitcoin or its future as a currency. It was a simple explanation of fact.

[quote] And, I would rather be an ass than a dick with no brain.

What's it like to be both?

[quote] It is also accepted at many major companies and enterprises

Name some.

R32, why ask a question when only YOU know the answer?

Well, R33---how about you actually DYOR? But, I will give you a headstart:

Amazon, ATandT,Subway, Whole foods. You can work your way from there. There are plenty more.

Nice try at a comeback., r34. Your earlier posts make it clear who that applies to.

Ah, so we agree, R36! Yes, it clearly applies to you. Whew.

And you are lying, r35. Amazon does not accept Bitcoin. You sell your bitcoins to a third party who pays Amazon in fiat currency.

R38 its not a lie lol. They are an entrusted partner in the transaction. WTF. It is an indirect acceptance. Google it and find out how many other places accept it. Not a ponzi, is my point. If Dish Network accepts it, why won't you?

You cannot go to amazon.com and submit payment in bitcoin.

[quote] Amazon merchants actually receive fiat currency for their wares

[quote] “There’s no direct merchant integration,” Kruger said, clarifying that Moon also manages payment channels and merely offers a simple interface for sending payments.

R40, you are sticking to the Amazon thing? Let it go. As there are a LOT of other merchants that take BTC directly. NOT a scheme is the point.

R40, are you Paul Krugman?

[quote] you are sticking to the Amazon thing? Let it go.

Well, yeah, because you misrepresented reality to try and make your case stronger than it actually is.

Someday people might do the majority of their transactions in cryptocurrencies. Maybe not. Bitcoin might be the dominant cryptocurrency. Or it might be the AOL and the Netscape of cryptocurrencies. Nobody really knows.

Right now, today, there are very limited uses to cryptocurrencies, among them Bitcoin. That's the reality.

R43, no, I didn't it is accepted by way of a partnership with another entity. You are clinging to that to change the subject. Fact is, BTC is not a scheme. It is a currency, used as such and will be a currency in the future.

[quote] You are clinging to that to change the subject.

I'm not changing the subject at all. The claim was

[quote] It is also accepted at many major companies and enterprises

And Amazon was an example given. Amazon does NOT in fact accept bitcoin.

This claim about Amazon was in response to this statement (not mine)

[quote] It’s mostly used for drugs, money laundering, the dark web, and other illegal activity.

Which is true. The amount of financial transactions using bitcoin for illegal activities dwarfs the amount of legal transactions.

R45, Amazon accepts bitcoin by way of a partnership with another entity. AGAIN...that is NOT the issue. You stated that BTC is a ponzi scheme. Which is a luddites view of progressive technology. Try DYOR research before stating something that is not true. You may want to take a look at the index as well. Not a ponzi, it is the currency of the future. Period.

As usual the thread has devolved into a pathetic cat fight between 2 idiot posters.

R46, Dude- EVERYONE of your comments are vile. You are a miserable cunt, so whatever. Sit and spin on a rusty nail you fucktard troll.

Before the asshole corrects me.

Every one.

On December 17th, 2017 a bitcoin was worth $19,783.06. It steadily declined and almost a year later it was worth $3,300. Today it is worth $8,168.44. That is quite a volatile investment.

Yes R50. It is a store of value. AND...the LOWS continue to climb. For instance, I had 1000 BTC that my father bought me when it was less than a dollar. Did I sell? Sure, when it hit nearly 20 grand. Not all of it. It is a store of value for those not willing to sell , and it is a currency for those that want to sell. It will, in the future be one of the most used currencies. It is being bought by MANY investors now, as they see where it is headed. Don't believe it....but, you will regret it.

It's not prudent to invest in something you don't understand. But from reading about it, it does sound like something Alfred Hitchcock called "the red herring" in his films -- the thing people are hunting, looking for, but generally is the impetus for a lot of people running around and the plot developing. Bitcoins aren't tangible things that you can hold. Someone, apparently anonymous, "invented" the bitcoins though there are claims that he has been outed as the person who put there where they can be "mined" using quite a lot of energy. The plot thickens in that, like a lot of investments which tend to make money for the financial institutions and the people who work at them, they make it as hard to understand and complicated and complex for the average person/potential investor/sucker to understand. Yes, some folks have become very rich, but they tend to get out quickly, letting the next person buy it before it loses value. That's also called, oh, yes, a Ponzi scheme. Again, stay away if you don't understand an investment. Look up index mutual funds instead.

The DL should start presenting Kween Kage Matches on YouTube.

R52, it is ABUNDANTLY clear that you know NOTHING about BTC.

R52 is right.

There is no inherent value in bitcoin; it's not pretty and in limited supply like gold or diamonds, and it has no alternative uses. It's not backed by the credit of any entity, let alone a government with tax authority. As best I can tell it's a clever device that hide and launder money that depends on the credulity of tech stans.

I'm interested and want to buy but don't know where to start.

R55, everything you list is exactly WHY it will be the currency of the future, lol. OH, and by they way..you have no clue about BTC either. OF COURSE IT IS LIMITED. UNLIKE FIAT that can be printed anytime and used to devalue our dollar. BTC is in its infancy. And yet, it is STILL being used to not only buy things but as a store of value (by wallstreet, too BTW).

Until bitcoin becomes more liquid, and until it speeds up the processing time for a simple transaction from 10+ minutes to INSTANT, bitcoin ain’t going anywhere.

what websites do you recommend to research?

R59, Between SW and LN and general population transactions, AND future quantum computing...that will be solved.

AND.....it is STILL better than FIAT.

R57 I said AND, not OR

[quote]it's not pretty and in limited supply

R59, you should first learn a bit about it..you can even use wiki for a little bit of familiarity in terms of its guts and existence. There are a lot of websites thereafter, just google some questions. To buy, coinbase is your safest bet.

The distinction to me is not important, R61 because the one thing that you made clear is that you have no idea what you are writing about, and your knowledge in terms of BTC is, at best extremely minimal.

wow, that's compelling argumentation R63

Well, R63- it is all that you are entitled to- anything else would be way over your head. You proved that.

I’m going to research how to buy some, and then watch it for a while. Purely as a speculative endeavor, like going to a casino with pin money. My Moose has had some luck with it, and he’s an idiot.

Both idiots and intellectuals have purchased BTC and alts, R66. And the outcome will always be the same for both.

it doesn't hurt to diversify....

Absolutely, R68. Bitcoin cash is a good coin to have in your portfolio. Long term....it all goes down almost as quickly as it goes up. The bottom line though is-----HODL!!! That comes from an old school thread. Guy meant hold. In any case, the lows never return to their previously lowest point. They grow. And, that is what the long term game is.

How high will the stock market go? When the fuck is the crash coming? I did not profit from the growth. I stayed out when Trump was elected.

R70, there just is no knowing. I was shocked that the market roared after Trump was elected.

I’ve concluded that the market loves the Republican agenda. Less regulation. Bringing expat money home without taxes. Lower taxes. Favors. Not that it’s good for the people, mind you. But business likes it. Not the Trump agenda. He’s clueless. I mean Mitch’s agenda. So, the market may go up further. Maybe it will correct when a Dem is elected?

This might still be recovery from the crash, I don’t know. In that case, it will not correct in a major way.

Note: a 30% correction hasn’t happened in a while so it may shock many people, but it’s not generally a rare or earth shattering event.

Yes, the market is unpredictable, but --- if some big corporation announces they've found a way to put a lot of people here in the U.S. out of jobs and will either replace them with machines or for little wages abroad, the market has a pretty good chance of going up, as other corporate heads clink glasses and think of how they can implement those policies in their companies.

[quote]...it does sound like something Alfred Hitchcock called "the red herring" in his films-- the thing people are hunting, looking for, but generally is the impetus for a lot of people running around and the plot developing.

Hitchcock called it a "MacGuffin", not a "red herring".

No, R65. The person who resorts to ad hom attacks and insults demonstrates that he commands no good arguments.

Angela Lansbury has a cute Vedic filrmed on the MSW set about the MacGuffin. She looks through her bookcase and asked rhetorically, “Now where’s my MacGuffin?” There are a lot of other YouTube clips on it.

The fact that the Venezuelan government, one of the most corrupt, inept and backwards regimes in the world, is making BTC (Petro) its official currency makes me want to stay away from that shit.

R74 the person who appeals to ignorant majority deserves the ad hominem.

R76. Hitler drank water. You should stay away from water.

R78, that's a very stupid comparison.

No it’s not R79. You believe that if a certain set of or certain ppl use a certain other thing that it is clearly poisoned and you would stay away from it.

[quote] AND.....it is STILL better than FIAT.

The stupidest fucking thing I ever heard. On what planet is it better to sit and wait up to 60 minutes to finish processing an ELECTRONIC TRANSACTION that even fucking Diners Club can process instantaneously? All while paying a fucking fee on top of the inconvenience.

You are the grandest idiot I have ever encountered here.

[quote] It works by people using a shit ton of electricity to 'mine' it and then they sell it or use it like you would a currency.

And so if we lose the grid, are you shit out of luck?

The stock market will crash when a "tax the corporations, corporations are bad" candidate like Warren or Sanders gets elected.

And others will swoop in to buy shares at a bargain price, raising the market up again.

[quote]It is something anyone with a brain will buy before it is too late. It has gone up about three grand since OP wrote this.

BUY NOW OR BE PRICED OUT FOREVER!!!!

Purely a speculative vehicle. When you buy Bitcoin you buy air. It will NEVER be used as a widespread currency because it's so goddamn volatile. Tulip mania, Tickle-Me-Elmo mania, Beanie Baby mania, Bitcoin mania. Same shit, different toilet paper. It'll ultimately end in tears like all other manias before it.

Better sell before it's worth nothing.

Hmmmmm.

DENIED!

Too funny. All the fossils here.

R86 that will not age well.

You're not going to sucker us into your bubble. You can stop trying.

Don't worry, R92, we don't need you.

Buh-bye now then!

Is it bigger than a breadbox?

It will snowball. There is already discussion from the fed that they may attempt to buy out BTC. Which of course will favor holders.

Does R46 think we are stupid?

If Amazon or another retailer needs another company to accept bitcoin payment from them--that means they do not accept bitcoin. It is the other company that accepts the bitcoin and pays the retailer in....(wait for it)...dollars.

Maybe bitcoin will become a commonly accepted currency in the future, but it is not now.

It will never be accepted until the U.S. government converts our entire economy from fiat to crypto. Unless and until that happens, crypto is a non-starter because it is COMPLETELY illiquid. If you want to argue this point, fine, but please explain to me how i can easily convert the USD equivalent of $1,500 in bitcoin into cash, WITHOUT losing 10% off the top in fees for the conversion?

You can't.

[quote] I never understood what the whole deal about electricity and "mining" was about

I genuinely thought for quite a while that people were joking whenever they talked about that part of it.

Well, just bought a ticket from Jetblue with it. So....

For you that don't see it as currency, who cares.

Pretty sure most of you will be dead in the next 10 years when it is commonly accepted.

No offense.

[quote] Well, just bought a ticket from Jetblue with it. So....

No one is disputing that Bitcoin is accepted as a valid form of tender by a limited selection of merchants, dipshit.

Jet Blue doesn't accept bitcoin.

Got it through cheapair lol. R102

R101.."dipshit". You are special!

It’s cheAp to invest in. No one wrote to only invest in bit- no one wrote to blindly invest in anything. Do some homework. It is early stage. Try a little.

Go on youtube / net. Look up Ripple Investor Glenn Hutchins Or look up Jay Clayton. Not small players. See what they are saying.

Chainlink is also going to grow exponentially. The landscape of currency will be completely unrecognizable in 2 decades. Banks know this, which is why the LARGEST BTC and ALT holders are BANKS.

I want to buy but don't know where to start. I'm looking into coinbase.

R108 Coinbase is a good exchange. Binance too. But, IMO Coinbase is best.

Gemini is good too.

R97 using "we" in an effort to trot out supporters. Lol.

I'm also still confused as to what is exactly being "mined." Is it a collection of data from the web that's being compiled together to create something of value? Might anyone knowledgeable on the topic explain it better, maybe give an analogy to a mainstream concept that makes it easier to understand? I've tried reading articles and they are all way too tech-based for me to understand. I actually bought some of the Ethereum Light last year (which, up until a couple weeks ago, was a bad investment) to play around with. Now my $26 worth went up to $47. So that's exciting. But I have no idea what any of this is or how it works

R112- It is complicated, but I will attempt to simplify it using an analogy.

A professor of physics poses a question to his class. The first person to answer correctly gets an A.Only the brightest can solve this using mathematics. Each races to do so. But, in order for it to be confirmed as correct, the answer must be reviewed by the next student. And the next. If it is wrong, it is not accepted and the process starts again. After months, a solution is finally found, confirmed by a group of 60 (all of whom have to review and nod and move it to the next). Blockchain is the group of students, the answer is the protocol and the A is bitcoin. The process of the students working together, reviewing, confirming (or not) is mining. Mining is basically updating a ledger of computations.......the ledger of all transactions made is the blockchain. It keeps track of EVERY transaction EVER made. Through, basically, a "chain", like a legacy. It is impossible to "respend" a bitcoin...think of the students reviewing and saying "no, we already looked at that solution...so, it cannot be posed again.." Very simplistic here, but I am trying.....Mining takes a LOT of PC power. Like ,a LOT (companies are now building huge facilites to mine it). Unlike FIAT, Bitcoin has a limit. And, for those that call it tulips or whatever, they have NO IDEA what it will be. While it goes up and down, the one thing that it does not do is decrease from its highest low. It is a long term investment....it is basically what the internet was decades ago. Anyway, I digress. Thing is, it is VERY complex but I put a site down below for a VERY cursory explanation.

My parents told me that their parents said internet/ email would never catch on. It is far too hard to understand, and computers will never be bought by everyone, only the rich. That is where we are with Crypto right now.

R98, right now of course, BTC and the rest of the ALTS are in their stages of infancy. The fee's, in time will be liberated by virtue of scaling solutions. (SEGWIT, for example). There will be FAR more solutions as time goes on. Right now, it is all about the early adopters getting in and investing. The rest of those not interested will use it later, down the road. BTC is analogous to peering its head out of the black infinite. Yes, adoption is a good decade away. But, right now is the time to learn about it. It is not going anywhere.

You all talking about how this will be the currency of the future...can you explain why? There are advantages to email over snail mail. What are the advantages of cryptocurrencies to conventional currencies?

I see you saying that we should get in now to our advantage, and see comparisons to the rise of web-life. But how do we know we are not buying Netscape and AOL?

R116. Starts with forbes.com. When there Search crypto. All info & education to send ya on your way. Or search : why crypto? & fine a mainstream page & read up. I say Forbes as they lay out pros & cons in investing.

DYOR R116. Lots of reasons and in depth analysis available. Too complex to answer here.

R116, what exactly are the advantages over email that snail mail has?

Looks like "Rogue Trader" is on Youtube. For free.

[quote] DYOR [R116]. Lots of reasons and in depth analysis available. Too complex to answer here.

I'm always suspicious of people who say crap like this. If your thing is so wonderful it should be possible to put a few words together. If it is too complex to answer, then it's probably not as wonderful as you are making it out to be.

[quote] [R116], what exactly are the advantages over email that snail mail has?

Is this a real question? Speed of delivery, cost of delivery, control of contents...

R121. Then don’t look up info on digital currency on your digital phone or look at your digital pictures or post again on this digital site because thank God the world hasn’t gone digital & would never go digital banking... or digital shopping! Thank God my Doxtor has ignored breakthroughs!

A little too much proselytizing by the Bitcoin partisans. The emotionalism of the responses doesn’t help their credibility.

How is that in any way a response, r122?

I find your typo for doctor more than amusing considering the topic.

R124. What ever Sally. I did that (not the typo) because- if you did invest- none of this would be new or news.

Those that have no clue are rampant here. But hey, without laggers early adopters don’t get rich lol.

R123 ok boomer

There is so much starter info on here. Maybe leave DL & look it up . Or talk to your broker.

[quote]But hey, without laggers early adopters don’t get rich lol.

You sound desperate to sucker more suckers in. Enjoy your invisible "investment".

[quote]That is where we are with Crypto right now.

Horseshit.

How do you buy it? Or mine it?

I'm assuming it's FDIC insured for when it gets stolen?

R132 your assumption fully explains your complete ignorance.

R129 ok boomer.

Thoughts on how it will fair with the flu coming?

It's faring quite well lately, R135... as of now $10429/BTC and up about 30% in the last month

R1 Bitcoin isn't used for trafficking as traffickers (of people, drugs, endangered animals, etc) don't want a record of any transaction and Bitcoin and Ecoins uses a ledger. Traffickers want their money UPFRONT and don't want anything traced back to them. And they don't want to wait.

Exactly, R137. Traffickers prefer cash..and they hoard it in strange places. Digital currency, due to the ledgers have been tracked and have gotten people arrested.

BTC is NOT a short term hold. This is what people need to understand. It is still in its early stages. And, while the lowest highs are never repeated (the lows always increase), it will drop quickly. But here is what is so interesting.........it has gone up nearly a billion percent since its inception.And, yes.....it will continue to increase. In 15 years (maybe 20) it will be worth at least a million dollars a coin. Oh, and Bitcoin Cash is another great coin that will do well also. Both are longtermers. Chainlink too.

And, if you are new to it....DO NOT DAYTRADE.

R138 is psychic, everybody!!! Please welcome Sylvia Browne to the board!

R140, no clue who sylvio Brown is, but history is a GREAT tool Oh, and so is reading about cryptocurrency. But, yeah, you are funny. Ahem.

Honey history has never shown Bitcoin to go to a million dollars. Pull your head out of your ass.

R142, you are, clearly, obtuse. Of coourse it didn't. Because it NEVER was at a million. I am speaking of maths, and how to extract. WTF lol.

What do you think about Monero, R138?

R144, I think Monero has a LOT of promise. It is a good investment, IMO. That said, I do not own any-----I did in the past, but I sold it. But, it is very good and has promise.

If you want to risk a bit but get a great return in the future......research "digibyte". Cheap right now, but a LOT of potential.

what's distinctive about digibyte (and chainlink)?

how's that bitcoin holding up, doll?

R147. Um. Are you an idiot?

^ struck a nerve, did I?

NoR 149. Just exposed your stupidity.

R149 if you were not an ignorant boomer you would know not to use dips in bitcoin as some odd proof of your knowledge. Try researching the lows and see why you are an idiot.

Well, you've convinced me by your well-reasoned arguments. I'm going to go an use Bitcoin to buy a ticket on JetBlue. Oh wait...

R152. Um. You can. But your ignorance is profound so no great arguments w u. Go chase kids off ur lawn gramps.

Um, you can't.

And make up your mind. Is bitcoin a long-term investment tool or an everyday currency?

Um. You can.

I have said it’s long term.

But it CAN be used as currency.

I have said many times it’s a long term investment.

You can't, sweetie. We have gone through this. You lied. You sell your bitcoin to someone else for US currency to pay JetBlue. JetBlue itself does not take Bitcoin.

You can; dolly dog. Just as u use an intermediary like a credit card to buy a ticket. You use Cheapair as one to buy a ticket. And as I repeatedly told you before- and as you trot this weak point out- bitcoin can be used and is used by many many companies. And it will continue. Your odd little plane ticket argument that you unearth to listlessly strengthen a bad argument has grown tiresome. Don’t accept crypto. Clearly you are anachronistic. But you bring a dull knife to a cutting party dude. Keep that head buried. It doesn’t matter. You will be dead in a decade so your denial does not at all matter.

Actually, honey, you brought up JetBlue in the first place. And you have yet to show these many many companies that accept direct payment of bitcoin.

And comparing using an intermediary like credit cards doesn't help because there is no conversion with credit cards. I know exactly what I'm paying with a credit card AND there is no conversion fee.

I'm sorry this is so tiresome for you. Maybe if you had an intellectual honest argument it wouldn't wear you out so much to tie yourself into knots.

Yes sweet potato I did. And many other examples. You clung to the plane ticket with a hope that you could disprove my point. Which you cannot. It is tiresome because you are overwhelmingly ignorant in terms of crypto and attempt to win an argument using your ignorance. Which is tiresome. Very much like a Trump supporter. Ignorant without the awareness of your ignorance. You are not at all educated in this regard and trot out a lame horse insisting it is a winner. Stop. Just stop gramps.

The you-can-use-bitcoin-as-currency troll is getting more and more tiresome.

Apparently the local nursing home left the doors unlocked again.

[quote] You clung to the plane ticket with a hope that you could disprove my point.

No, I checked out your claim that you "just used bitcoin to buy a ticket on JetBlue" claim and found that they do not accept Bitcoin. No clinging, no hoping, just checking out your false claim.

R162. You are a sad little man. Try Cheapair lol.

[quote] You are a sad little man.

Can't make an actual argument, attack the person who exposed you as a fraud. Got it.

I have made it many times R164. You are just mind numbingly obtuse.

[quote] I have made it many times [R164]. You are just mind numbingly obtuse.

And been show to be a liar.

But keep attacking my character. That'll show everyone how wonderful bitcoin is.

R166. I am attacking your lack of intellectual power. Not your character. You continue to cling to a fallacy and despite the fact that yes you CAN buy a JetBlue ticket w Bitcoin you CONTINUE to say it cannot be done. It can. It has been. It will continue. And you are just obtuse. This silly argument with a petty element that you cling to is ridiculous and it’s exhausting. So yes. You are obtuse and you are anachronistic. You are simply like a trump supporter. Unable to see the truth and grasping at tiny elements of what you see might help sustain your argument just because you need it that way. Odd. And buy bitcoin!!!!!!

You keep pretending you can use bitcoin directly. You can't, but clearly nothing is going to stop you.

[quote] And buy bitcoin!!!!!!

And also clearly this is your main reason for coming here. To shill.

R168. Please see R 167.

That will now be the only reply to you. No longer reading ur dribble.

Better yet R168- I think I will block you as I do with Trump supporters and every other idiot. Buy bye.

R167, I have no dog in this hunt, but how do you use bitcoin to buy a JetBlue ticket. I just checked and there is no way to select Bitcoin as your currency.

R171. Cheapair.

[quote] Buy bye.

What a delicious typo.

[quote] how do you use bitcoin to buy a JetBlue ticket

You don't. You sell your bitcoin to a third party at a fee and they convert it to actual cash.

Click on the bitcoin link here to see how easy it is to use bitcoin.

Ummm, r174, the Bitcoin link is dead.

Yep. That was my point, r175.

And yet. Here you are R175

Thanks, r176, touché! R177, I’m here because it’s morning and I’m doing my daily perusal of DL. I don’t think about bitcoin at all, but I think it’s funny that you think I do.

Your post on bitcoin would encourage that assumption.

R179, I post on all threads. I’m retired and my mornings are spent browsing the internet and learning about stuff I didn’t have time to learn about when I was working. So now that I’m all “interested” in Bitcoin, let me just say it’s a crock of shit and anyone who invests in it is a moron.

Girls, girls! You're both fighting over thin air.

How is bitcoin holding up with this coronavirus thing?

$6300

looking good, bitches!

Well...that's a comeback from $5800. In the last five days it has fallen by a third. Even the Dow Jones hasn't done that.

I made a killing with shorts. KEEP DROPPING!!

I swear it's going to a million dollars, guys! I swear it!

-24% in a day

buy NOW or be priced out FOREVER!!

It's a safe haven, guys!!! BUY BUY BUY!

$5630 bitches, whadda deal

Of COURSE crypto has dropped-we are dealing with HUMANS. Bitcoin, et all, in all of their superiority over fiat are still at the mercy of stupid humans. I for one have NEVER called Crypto a "safe haven". I have indicted that it WILL replace fiat. And, just because we now have a global pandemic, that does not change. Crytpo is the same as the stock market RIGHT NOW. As I have said a thousand times here, it is in its INFANCY. For all of the anachronistic fossils here who are saying "see? its a fraud..its not a safe haven...its dropped...its a tulip..." you are clearly stuck in your odd little tiny box of perspective that was built 4 decades ago. You can use the price drop right now as a reason to support your closed thinking and old fashioned theories. But, come back here in 7 years. I have said numerous times------------------------------------------THIS IS A LONG TERM INVESTMENT. NOT SHORT TERM. My god. Yes, it is volatile. Yes, you can buy it today and it may quadruple in 4 months. Yes, it may drop after that. BUT.....look at the LOWEST LOWS of IT. THAT continues to rise. And, DO NOT BUY IT if you don't want to. Most of the buyers are my age or younger. They are NOT 30 years or older. AT least, not most. Aside from the large corporations invested in it. Which, by the way.........is WHY it drops when the stock market drops. The biggest crypto whales are corporations because their business model is built upon growth, and they see the future growth. So, go ahead and post the idiotic posts based on current volatility. That reflects your place in our world of technology-----which puts you in 1994. Crypto is NOT about being a "safe haven" (aside from the crypto stable coins). It is about technological growth, blockchain and its place as a currency IN THE FUTURE. Yes it IS a currency. Just as it was when someone bought a pizza for 10 thousand bitcoins. You can invest long term, you can use it now as currency and regret it later if you do not own a shitload of it, or you can NOT invest. But, your anachronistic crap is exhausting, boomers.

You'd be more convincing with more dots and dashes. And maybe a few more CAPITALIZED WORDS.

R185, you have THAT right!!! Dollar cost average the SHIT out of this fire sale.

Not a safe haven. Not a store of value. Not a currency. Sign me up!

Down 50% in two days! Did even Enron drop as much?

R194. Of course it did. It will drop more too.

Firesale.

EOY will prove to be great for it.

$4750 bitches

R196. I predict it will go even lower. But, so is everything else. No big deal in the scheme of things. People panic sell and panic buy toilet paper.

So, no big deal. I sold mine too, because I KNEW I could buy a shitload more in 2 months or less - which will make me even wealthier.

Firesale for me.

tl;dr r190. Can you put down the coke and try again?

Lol, R191.

Is it a million dollars yet?

Bitcoin is surging... still time to get in before the halving.

LOL, nice try R201.

R201 = Used Bitcoin salesman. Also known as a used thin air salesman.

Yes it is surging. It will likely reach 20 grand by years end.

R198 is right about that post: Cocaine is a hell of a drug.