• BITCOIN: To the moon! Value breaks $500, expected to continue to rise!
    374 replies, posted
[QUOTE=yawmwen;42900566]there is little value. the price is rising because btc is a fucking atrocious currency that creates incentive for hoarding instead of spending and more people start buying btc, driving up demand. this is a fucking ponzi scheme. you guys better not be holding onto any bitcoins when this unsustainable growth eventually takes a shit. [editline]18th November 2013[/editline] eventually it has to crash. i'm not saying it will crash soon, but it HAS to crash. eventually people are going to realize they are holding onto monopoly money, try to sell, and everyone will be out of money.[/QUOTE] People are hoarding because there are a lot of speculators buying right now driving the price right up, yes it will crash but it won't just outright die. Just because bitcoin doesn't have inflation doesn't mean you can't use it for spending. People still use it for spending because you can spend it very easily. It's like using a creditcard without the higher creditcard fees.
Was planning on investing a few hundred euros, but with all the craziness going on right now, I think I'll wait. Can't buy them anyway, all the Bitonic reserves have been plundered. I think it's a bit silly to talk about Bitcoins as in "I made $xx this week". I prefer to see this as a investment for a future where a lot more stuff can be bought with Bitcoins. Imagine what a few hundred euros worth of Bitcoins today could potentially buy if, for example, Steam starts accepting them next year. It should be more about using Bitcoins itself as currency, instead of "I inserted $x and extracted $y".
The only use. (don't order these) [img]https://dl.dropboxusercontent.com/u/4189614/no2.jpg[/img]
People used bitcoin as a get-rich scheme No shit its gonna crash when people realize its pretty much a fiat currency except you cant really buy anything with it
As they say, what goes up must come down. :yarr: Aaaand I thought the thread was on first page. Has it crashed yet? hallelujah, that's one hell of a drop.
[QUOTE=postmanX3;42900071]i literally don't even understand where this value is coming from, what can you even fucking purchase with bitcoins? silkroad went offline like a month and a half ago, what are people still doing with these things this is the biggest fucking bubble ever, it's going to be hilarious when it hits single-digit dollar values again[/QUOTE] everyone says that yet it goes back up again..?? learn 2 memory
[QUOTE=Tobba;42902251]People used bitcoin as a get-rich scheme No shit its gonna crash when people realize its pretty much a fiat currency except you cant really buy anything with it[/QUOTE] Funny thing is that it always goes up again and even higher than last time after each time it takes a dive.
I don't understand why it's growing. What can you actually buy with Bitcoins? Someone educate me
[QUOTE=TheTalon;42902340]I don't understand why it's growing. What can you actually buy with Bitcoins? Someone educate me[/QUOTE] It's working like gold atm You don't go and buy a cheeseburger with gold, but it's one of the biggest precious metals, speculation, etc.
[QUOTE=TheTalon;42902340]I don't understand why it's growing. What can you actually buy with Bitcoins? Someone educate me[/QUOTE] Buy stuff. Trade them. At this point you can think of them as gold, except on the internet. Later they will be like "cash" except on the internet.
[QUOTE=Johnny Guitar;42900142]i wanted to buy 50 bitcoins a couple years back for like 20$ and my family was calling me retarded and that it wasn't real money fuck my life[/QUOTE] Confront them.
[QUOTE=TheTalon;42902340]I don't understand why it's growing. What can you actually buy with Bitcoins? Someone educate me[/QUOTE] [url]http://www.gyft.com/[/url] Gift cards (Amazon, Gamestop->Steam Gift Cards->Steam games) In some countries like the Netherlands and Germany you can also order food with it (Chinese, pizza, etc) And lots of electronics (tablets / phones / computer components) at online bitcoin only stores.
To think I had a few of these way back fuck
Please, no more Bitcoin news. I bought some when mtgox started and then forgot about it. When the price hit $250 I raced home after work, only to be unable to find my wallet file. It was gone. As was my money. I doubt there ever were more German curses expressed towards a piece of electronic equipment.
I get that Bitcoins are (or were) basically pieces of currency generated by making your computer work at mining, but can someone explain simply to me why they have value, and how they're working as a currency?
[QUOTE=TheAdmiester;42902574]I get that Bitcoins are (or were) basically pieces of currency generated by making your computer work at mining, but can someone explain simply to me why they have value, and how they're working as a currency?[/QUOTE] Because someone said they are, and people use them as currency, which is exactly how every other currency works. A currency is worth what people think it is worth. Except in this case we are the ones choosing how much it is worth, not the banks/government.
[QUOTE=No_Excuses;42900507]Bitter much?[/QUOTE] bitter that i didn't buy into a currency that fluctuates upwards of $50 a day in value? lol? i suppose it might have been possible to make some significant money off of it if you bought way back when it was worthless and held onto it, but the risks involved with this currency make it literally the worst long-term investment anyone could make ever. [editline]18th November 2013[/editline] [QUOTE=Hikjaf;42901425]I browse bitcointalk regularly and I can tell you this guy has no idea what he is talking about.[/QUOTE] i browse facepunch regularly and can confirm this guy has no idea what he's talking about browsing forums basically makes you a certified economist, trufax
My buddy is sitting on 16 coins right now. He bought them a while ago for next to nothing.
[QUOTE=Johnny Guitar;42900142]i wanted to buy 50 bitcoins a couple years back for like 20$ and my family was calling me retarded and that it wasn't real money fuck my life[/QUOTE] What a shame. With the kind of money you have now you could have bought a better family.
i just found 92 btc on some old exchange where i deposited them in '10
[QUOTE=Tobba;42902251]People used bitcoin as a get-rich scheme No shit its gonna crash when people realize its pretty much a fiat currency except you cant really buy anything with it[/QUOTE] yes you can!!! what other currency lets you buy DRIED FRUIT from [B]pure internet freedom[/B]??? [IMG]http://siliconangle.com/files/2011/11/bitberries-bitcoin-dried-strawberries.jpg[/IMG] bitcoin is the future you don't understand :downs:
Whats a good bitcoin exchange to go with, I might buy some when this bubble pops
[QUOTE=Turing;42903433]i just found 92 btc on some old exchange where i deposited them in '10[/QUOTE] you lucky son of a bitch
Sigh I had a bitcoin that I bought around the $100 mark but that got seized during the silkroad drama.
Same for me NoDachi :( I had 0.98 that I got for about £12 and was worth £150 at one point I think
[QUOTE=Blind Lulu;42903635]For anyone who has a bunch of bitcoins right now how long does it take to convert them into something like US dollars? I heard it can take years.[/QUOTE] Yeah that's what I was wondering how exactly do you sell off bitcoin anyway
What if.. the unknown creators of bitcoin have trillions of coins and are able to control its price? Nevermind what i just said. Keep on buying! it's totally not a ponzi scheme.
[QUOTE=Tengil;42904011]What if.. the unknown creators of bitcoin have trillions of coins and are able to control its price? Nevermind what i just said. Keep on buying! it's totally not a ponzi scheme.[/QUOTE] because you can see tranactions
I've got a stock here that could really excel...
[QUOTE=SCopE5000;42904229]I've got a stock here that could really excel...[/QUOTE] Excel?
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