[QUOTE=Headhumpy;52774790]Buying different varieties of manure isn't diversifying.[/QUOTE]
Do you even know anything about the altcoin market? While a lot of them are shitcoins, there's still tons of good projects backed by a ton of money and talent.
[QUOTE=wallyroberto_2;52774899]Do you even know anything about the altcoin market? While a lot of them are shitcoins, there's still tons of good projects backed by a ton of money and talent.[/QUOTE]
My boy probably hasn't heard about ICOs yet or decentralized digital assets on the ethereum network, don't worry more money for the rest of us.
[B]EDIT:[/B]
For anyone interested in knowing why more and more people seem to be buying into "altcoins" is because altcoin has become a buzz word for a new class of cryptocurrency called digital assets. Digital assets are cryptocurrency tokens created by Ethereum smart contracts (or other cryptocurrencies with turing complete smart contracts), these digital assets are offered by start up companies as venture capital funding (think a kickstarter for a company), any good digital asset makes money or creates value for the user that holds that particular digital asset.
for example, Etheroll (DICE). Etheroll had an initial coin offering (ICO) offering 7 million tokens. During the ICO you sent your Ethereum to their smart contract address and they gave you DICE in return. Now the real awesome part is that every 2 months, ALL house profits are distributed to DICE holders proportional to the amount of DICE they hold, meaning if you held 1 million DICE you'd get 1/7th of the entire house profits for Etheroll. (AKA tens of thousands of dollars worth of ethereum)
These aren't shit coins anymore, they are a new class of security assets which can generate profit just by holding.
[b]TLDR: Ethereum makes it possible to create digital assets (mistaken as altcoins) on the Ethereum blockchain that you can buy during startup company "Kickstarters" (ICO) and if you invest in their venture capital funding they give you a "share" of their company[/b]
[QUOTE=Headhumpy;52774790]Buying different varieties of manure isn't diversifying.[/QUOTE]
yeah youre right, i shouldn't be printing money for myself, more worth it to drive myself into debt with student loans to make my way into a field i dont wanna be in so i can scrape by in an increasingly exclusionary job market
[QUOTE=No Party Hats;52775382]yeah youre right, i shouldn't be printing money for myself, more worth it to drive myself into debt with student loans to make my way into a field i dont wanna be in so i can scrape by in an increasingly exclusionary job market[/QUOTE]
you're talking as if cryptocurrencies have given you a really cushy lifestyle where you want for nothing, when in reality, you've probably made a whopping $1000 profit or something over the span of a year.
quit being so deluded man, you acting smug and holier than thou cause you've made a few buckeroos by investing in some internet coins is a bit overkill
I am one of the people with almost $100k in bitcoin locked behind 6 years of not paying attention and not remembering passwords.
I made around 45 BTCs with shitcoins with at one point of my trading 'career', but I flushed it down the drain by messing with shitcoins :v: :hurr:
Put about $40 in originally last year around election time and have pulled out a little over $500 from the winnings on that and letting it grow for a few months.
Might make another $550 here shortly from another $40 drop in I initially placed months ago thanks to a recent event.
It is insane to see the valuation go up a few thousand dollars since then.
[QUOTE=Tudd;52775483]Put about $40 in originally last year around election time and have pulled out a little over $500 from the winnings on that and letting it grow for a few months.
Might make another $550 here shortly from another $40 drop in I initially placed months ago thanks to a recent event.
It is insane to see the valuation go up a few thousand dollars since then.[/QUOTE]
What I find most amazing is that the value rises by a thousand dollars within like a week. The risky part of course is that it could burst at any moment - however, a lot of people have faith that it's going to break the 10k mark by early next year.
I still remember when it suddenly dropped to a couple hundred bucks and /r/bitcoin had a PSA on the front page telling users to not kill themselves
[QUOTE=Da Big Man;52773863]The higher it gets the more depressed I am losing my Bitcoin wallet with around a dozen from years ago. Still have the ATI card that mined it all too for a subtle reminder[/QUOTE]
I remember having CPU bitcoin miner on my PC around 2008-2009 not knowing what it all means, since I was just a kid.
I remember reading about Bitcoin on FP when it was really early and mining for a week or so, got bored being in a pool and then opted to go solo and mine for a month or so on my own and got nowhere. Despite being a really decent Gaming PC at the time the hashrate it was getting was garbage in comparison to others so I gave up in the end.
I've been insanely lucky though, I traded a CS:GO skin earlier in the year for around 9.5 BTC (when it was around $1300 each) and have held onto them since mainly due to laziness and worry about paying tax on it.
[QUOTE=Llamalord;52775318]My boy probably hasn't heard about ICOs yet or decentralized digital assets on the ethereum network, don't worry more money for the rest of us.
[B]EDIT:[/B]
For anyone interested in knowing why more and more people seem to be buying into "altcoins" is because altcoin has become a buzz word for a new class of cryptocurrency called digital assets. Digital assets are cryptocurrency tokens created by Ethereum smart contracts (or other cryptocurrencies with turing complete smart contracts), these digital assets are offered by start up companies as venture capital funding (think a kickstarter for a company), any good digital asset makes money or creates value for the user that holds that particular digital asset.
for example, Etheroll (DICE). Etheroll had an initial coin offering (ICO) offering 7 million tokens. During the ICO you sent your Ethereum to their smart contract address and they gave you DICE in return. Now the real awesome part is that every 2 months, ALL house profits are distributed to DICE holders proportional to the amount of DICE they hold, meaning if you held 1 million DICE you'd get 1/7th of the entire house profits for Etheroll. (AKA tens of thousands of dollars worth of ethereum)
These aren't shit coins anymore, they are a new class of security assets which can generate profit just by holding.
[b]TLDR: Ethereum makes it possible to create digital assets (mistaken as altcoins) on the Ethereum blockchain that you can buy during startup company "Kickstarters" (ICO) and if you invest in their venture capital funding they give you a "share" of their company[/b][/QUOTE]
So it's like a stock exchange but completely unregulated and using a currency accepted by almost no one. Sounds good to me.
[QUOTE=Da Big Man;52773863]The higher it gets the more depressed I am losing my Bitcoin wallet with around a dozen from years ago. Still have the ATI card that mined it all too for a subtle reminder[/QUOTE]
You'd never be able to turn them into any national currency anyway with how valuable they are.
[QUOTE=Jonzky;52775912]I remember reading about Bitcoin on FP when it was really early and mining for a week or so, got bored being in a pool and then opted to go solo and mine for a month or so on my own and got nowhere. Despite being a really decent Gaming PC at the time the hashrate it was getting was garbage in comparison to others so I gave up in the end.
I've been insanely lucky though, I traded a CS:GO skin earlier in the year for around 9.5 BTC (when it was around $1300 each) and have held onto them since mainly due to laziness and worry about paying tax on it.[/QUOTE]
You'll pay some form of CGT on it.
Being worse case 50%.
I'd be half tempted to cash out I don't see it as a stable market.
Is there a decent Ether/GPU mining/BTC/ASIC mining presence here on Facepunch?
No idea if I'm the only one, but we need our own thread damn it!
wow, BTC is still holding strong at $5700. I expected the bubble to burst while I was asleep
[QUOTE=Boss;52776234]You'll pay some form of CGT on it.
Being worse case 50%.
I'd be half tempted to cash out I don't see it as a stable market.[/QUOTE]
it sounds like you can cash out 11k a year (22 if you give 11 as a gift) tax free, do that once on the 5th one on the 6 sounds like a nice way to cash out you btc tax free atleast for smaller amounts like the person your replying to
I don’t understand how people can speculate crypto currencies. There is no way to actually assess the real value of any coins unlike stocks or bonds or whatever which are pretty reliably linked to real world events and trends.
I mean when people predict “bitcoin will be 10k by january” where the hell are they pulling this number from. The best you could really do is try to estimate from media hype.
[QUOTE=waylander;52776438]it sounds like you can cash out 11k a year (22 if you give 11 as a gift) tax free, do that once on the 5th one on the 6 sounds like a nice way to cash out you btc tax free atleast for smaller amounts like the person your replying to[/QUOTE]
They may see it as income that's taxable because this whole making profit off something people dont understand so the goverment will just adopt a worse case scenario for the tax payer mentality as per usual... I'm just waiting for the day they start taxing gambling winnings.
The 11k a year is for profit on shares I think (excluding the 20k ISA gains) maybe they'll treat as a share / fund you are technically part of a group with a shared interest....
Getting upset that you didn't invest in bitcoin is like the people who got mad that they didn't invest in beanie babies in the 90s.
It isn't really going to significantly go down until the first week of November
It just broke $6k. Now even Jeff Sessions is afraid of it
I'm bunched in with the rest of the 'I lost and sold a buttload of bitcoin in 2011 when it was worth chips' squad.
I've got a dead HDD that had like 40BTC on it somewhere. I remember donating about 2BTC to a gmod server I used to play on back in the day too. kms.
[QUOTE=Crumpet;52802161]
I've got a dead HDD that had like 40BTC on it somewhere. I remember donating about 2BTC to a gmod server I used to play on back in the day too. kms.[/QUOTE]
Probably worth sending that off to a data recovery specialist or something
[QUOTE=Crumpet;52802161]I'm bunched in with the rest of the 'I lost and sold a buttload of bitcoin in 2011 when it was worth chips' squad.
I've got a dead HDD that had like 40BTC on it somewhere. I remember donating about 2BTC to a gmod server I used to play on back in the day too. kms.[/QUOTE]
send it to me
[QUOTE=Saxon;52802185]Probably worth sending that off to a data recovery specialist or something[/QUOTE]
This. Absolutely worth trying.
[QUOTE=Saxon;52802185]Probably worth sending that off to a data recovery specialist or something[/QUOTE]
I know. I've been strongly considering it but the upfront cost is normally absolutely ridiculous and not some money I can just pull out atm, and I don't know how much I trust the 'we won't charge unless it's recovered' companies either. I think I'm gonna start saving up a little fund and just go for it.
[QUOTE=Crumpet;52802243]I know. I've been strongly considering it but the upfront cost is normally absolutely ridiculous and not some money I can just pull out atm, and[B] I don't know how much I trust the 'we won't charge unless it's recovered' companies either.[/B] I think I'm gonna start saving up a little fund and just go for it.[/QUOTE]
Find a reputable one right now (the kind that does this service for businesses)
Even if it cost 190 thousand dollars to recover it (it will definitely), it would [I]still[/I] be worth it because you'd end up 51 grand ahead. Your stash would be worth $241,560 USD.
[QUOTE=phygon;52802259]Find a reputable one right now (the kind that does this service for businesses)
Even if it cost 190 thousand dollars to recover it, it would [I]still[/I] be worth it. Your stash would be worth $241,560 USD.[/QUOTE]
You have to weigh that against the risk of it not being recovered, as well as how badly a loss would affect him compared to how much happiness he'd potentially get.
But yeah, I'd say do it if you remember the password - or perhaps they'd do it for no upfront cost if you promise them part of the stash?
I'd got bitcoin a while ago, traded 10 coin in club penguin for thing. Not really regret either
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