Bitcoin is attaining highest value ever, 1235$ currently, 6 weeks ago after the "crash" it went as low as 700...

Bitcoin is attaining highest value ever, 1235$ currently, 6 weeks ago after the "crash" it went as low as 700. Who here had the balls to buy when it was at the lowest and nearly doubled their investment in 6 weeks?
I bought 1.88 btc for 1500$, that are now worth 2330$. If only I hadn't listen to Holla Forums and went all in with 10k.

Other urls found in this thread:

bitcoin.org/en/faq
chimera.labs.oreilly.com/books/1234000001802/index.html
github.com/bitcoin/bitcoin
twitter.com/NSFWRedditImage

Could you perhaps explain how a currency that is not or barely used in real life can change in value?

The same way gold is.

Offer and demand.

You cant wear a bitcoin and you cant use a bitcoin as material to produce cell phones. Gold has value, bitcoins have artificial value and aren't actually worth anything. There is money to be made right now, but when people figure out why the system is broken (protip: the system can only handle X amount of transactions and when enough people start using it, no one will be able to make a transaction IE sell their coins, because it will take 2 hours and then fail. Whats your coin worth at that point? Absolutely nothing.

That will happen. The system is not run by a real company who calls the shots, its in the public domain.. and the people who are capable of fixing it have said they have no intentions of doing it. It will fail, and something better will replace it, something where people without smartphones can buy and sell it, without worrying about 50,000$ going missing because they lost their wallet with the piece of paper in it.

Also the rise of bitcoin is paradoxical because it should be spiking downwards with the strong economy, apparently foreign countries are buying it up, like say, Canadians, to avoid their currency going in the shitter under their socialist leaders.

Also, bitcoin is way, way past this point of denial. Whatever the reason for your denial (weather you are jealous, naive, traditional), you should HELP YOURSELF to the reasearch. It's all out there now, clear as day. Check out my first link;you will have your answer in brilliant, easy-to-digest detail.

Basic info, for anyone:
bitcoin.org/en/faq

Advanced info, for college-level understanding:
chimera.labs.oreilly.com/books/1234000001802/index.html

Source, protocol, and technical info, for autists:
github.com/bitcoin/bitcoin

Tell these denial trolls to fuck off, and point them to the links here These answers are easy to reach and we waste so much valuable discussion on these questions.

Yeah bitcoin is new, but it's not that new anymore. It's not like we just invented a time machine or photon cannon and you're asking how it works. By this point, you're asking how the wheel works. Or more accurately: gold.

take a basic economics class you fucking niggers

As I said, I looked into investing years ago and decided based on how non-user friendly it was, but also because of the extreme potential for catastrophic collapse that it was not worth it. Every transaction takes several steps to be processed, its not instant, it took like 10 minutes years ago. Youd meet up with someone and trade coins in a McDonalds, and youd have to wait there with them to make sure the coins actually went through.

The more people asking for transactions, the longer it takes to process them, the bigger the backlog, the more failed transactions (people unable to sell coins when they want to, or at all)

When the first person does a news story about not being able to sell his coins, everyone else tries to dump dump dump before they lose all their money.


Bitcoin shill, advertising so other people buy it directly giving you profits. Youre not here for Holla Forums. Reported.

Except the primary use of gold is not for industrial purpose but jewelry, and by an enormously large margin.
So the value of gold is only what others think it's worth, like bitcoins.

Fuck off.
Buy some bitcoin as a hedge if you want, even as a speculation, but don't waste your energy worrying about it when you could be developing skills.

Also it takes days for my bank to process a tranfer, not minutes.

And I also invested in it years ago, and unlike you, I have made over $200k and counting.

Now we know why you're a denial troll. Fuck off and filter this guy's ID

I never said you should buy bitcoin, they are at a high point, only a retard would do that. Wait for it to drop.
But this drop may never happen, or may never drop as low as it is today, in any case I got my ~2btc I'm fine, so I don't care.

Personally I got rich with bitcoin very slowly. Your experience may vary.

However, the point of these threads is to educate anons and let them make their own decisions.

...

Jewelry has ornamental value, though.

Ah yes, the biweekly bitcoin shillthread returns.
THIS SHIT'S VALUE IS EASILY MANIPULATED BY CHINA
DON'T PUT YOUR FINANCIAL WELLBEING INTO THEIR HANDS

Not more than a cheap metal plated with gold.

Even if it was true, and that's a fucking big if, I'll trade a jewish master for a chinese one. I think I'm ok with this.

check out this first link, it is a great source. Pic related


The point of these threads is to educate, not to force people to make money choices. Bitcoin is extremely powerful, bubbling with latent potential. The founders of facebook have invested millions in it. It's worth encouraging other anons to read about, even if they choose to do nothing.

Reported
Fuck off kike shill

Just to prove I indeed own 1.88btc.

The one thing (((Peter Schiff) was right about was his call that China had the potential to dump $10 billion into the market. He was right and we're seeing the calm before the trade war storm. Be weary when buying near a peak, this could get ugly quick if the Chinese are artificially pumping the price to extract as much foreign USD to EUROs before the tarrifs hit.

We put our money where our mouth is 😄


1.88btc
.88
I see what you did there.

Isn't this surge connected with the ETF confirmation?

Quite a bit of ฿ you got there. Is mining bitcoin useful?

I wonder what happens if a few of the people who got in early are going to cash out. Considering in the early days a pizza was sold for 10k bitcoins there are probably some huge wallets out there.
The question is how to get rid of them without crashing the market. The only way seems to be slowly let them go when the market is rising. Buy from yourself to make it seem like there is demand, then transition selling to real people.
Ride the bubble to the top till the crash. Stabilize it around some calculated optimum and repeat.

CHINA PUMP

Not at present. All mining done today is done on price speculation.

Mining is, however, very easy to measure. Bitmain antminer is the most efficent miner. Take the specs there(like how much electricity it uses, how many hashs per second), and plug them in a mining calculator. Then you can easily measure your mining profit.

I mined back in 2013 and it was a lot of fun. But now you have superclusters like this chinesefag in picrelated that you will be competing with.

Yes, it's just another news-cycle pump like the last 17. When the SEC doesn't approve the ETF it will dump, like the last times. I'm a fan of BTC but please don't fall for these pump threads, they have already bought in, they are trying to trick you into buying them out.Same reason the Winklevii twins want this ETF, it's their exit plan, they entered a while ago and bought a ton. They can't realize those profits until they sellto you

I don't think the Winklevoss twins are that short-sighted. After giving up facebook to (((Zukerberg))) for a few measly millions, I can't see these guys collasping into tempting, shortsighted sales again.

And that is the difference between the average person and them. The average person is idealistic, they are practical.

Block Chaim