BRB My worthless crypto-coins are taking me TO THE FUCKING MOON

>>1282910
i hope not.
volatility is bad for business. btc should stabilize as much as possible.

>>1282913
Sounds to me like things are going to stay pumpy at least until the halving. I think I'll leave a trailing 5% stoploss to lock in some goodness at that stage

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>mfw $65,000 on the green.

Buy ethereum

>>1282913
Bitcoin is the new gold, true supply and demand will never be as stable as fiat. Fiat cuckrencies which stay stable due manipulation will serve us as a way to peg Bitcoin to them in order to do commerce. Merchants will just list the equivalent in BTC, so the price can go to 1 million per BTC, so fucking what.

In other words, win/win.

I was planning to buy two days ago. (when the price dropped below $476 again)

Woke up this morning to that chart. Fuck my life.

>>1282910

Bought 2k in BTC and ETH for the first time in mid may. Going to ride the BTC rocket as high as she'll go, then turn like 80% of that into ETH.

If fiat is bad because you lose purchasing power due to there being an unlimited supply, why is bitcoin good because you gain purchasing power because there is a limited supply? (limited in the total amount, not limited in the new amounts mined)

I know that the easy way out is to tell me that it's a good thing that the item you are holding is becoming worth more because you are getting rich doing nothing. But it'd be like gold, if gold had a practically finite supply, rather than the steady infusion of more of it year after year.

It's my understanding bitcoin will eventually stop being created?

IE, why is movement in value one way bad, but good in the other? In both cases the value is changing and introducing risk/instability.

Legitimate answers would be appreciated rather than some shitcoin bagholder trying to troll me.

>>1283122
You ETH shills are tiring me.

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>>1283133
Bitcoin is smart money, there are top tier engineers making it better and adding features, you can do things with it than you can't do with conventional money. It evolves. It's not something static, like gold. It's a better gold.
You can manage your own finances outside of any control. This will be crucial once physical cash is removed. Most people are surviving due working outside of tax control. Guess what the only alternative will be by then.
Then there's uses such as money outside contries with retarded capital controls.
Then there's the new paradigm shift of the concept of smart contracts.
And most importantly, 4 billion people that don't have the priviledge of having access to banks, suddendly can be their own bank with some Nokia SMS phone.
Bitcoin is a network that goes beyond money, backed by the biggest hashing power on earth.

That's its intrinsic value if you will.

>but muh low volume use cases

Here is where you might need to change your perspective.

Right now Bitcoin is a speculation not a necessity for daily life.

TCP/IP was once just a speculative technology with no driving purpose in daily life. But I think we can agree that it is quite the opposite today?

The difference between Bitcoin and TCP/IP is that you can buy and posses shares in Bitcoin whereas you couldnt buy and posses shares in TCP/IP

If you are willing to endure learning how to get some, you can own some today.

Count your blessings that you have the advantage of even knowing it exists.

>>1283169
I get all that. But if fiat is inherently bad because the value keeps dropping because the supply is infinite, why is it ok for bitcoin value to go the other way with a finite supply?

I'm not asking for a Vitalik Buterin lecture about blockchains and smart contracts.

>>1282910
Can you explain this chart to me? I'm definitely interested in cryptocurrencies, but I don't want to dive in wiithout knowing shit. Like, what does this even imply? I see it rising... but how much is that worth USD?

I really just don't know.

>>1283133
>>1283173

Not sure I'm following you, but movement up is good if your already holding, movement down might also be good if you're NOT currently holding, so long as you have faith that the commodity hasn't yet reached it's peak demand or otherwise been made valueless by external factors.

If you're not holding and the value is going up, well obviously that's basically bad.

Seems to me that's what separates coiners and nocoiners. Nocoiners don't believe in the future of crypto, not even in the short term. I don't see any fundamental reasons BTC is about to lose its value or purpose, (see >>1283169) the only real threats are other crypto's like Eth. But with China behind btc and a far more established infrastructure for utilising the currency, I think by the time Eth could be considered a serious competitor we will have seen the writing on the wall. And there's no reason they can't co-exist in their own niches.

I don't own any Eth, but it has my attention; particularly if some sort of BTC related disaster surfaces.

>>1283169
>Bitcoin is smart money
not smarter than toilet paper
>there are top tier engineers making it better and adding features
i have yet to seen any signs of this anon are you taking drugs?
>It evolves
it could evolve it doesn't tho it's locked in a political standoff among devs and prophets
>Then there's the new paradigm shift of the concept of smart contracts.
no such shift yet it's an idea with zero practical application so far.

let's face it bitcoin is a pilot game pretty much. some people will be insanely rich some will hold bags.

>>1283176
The USD conversion is the red figure on the right, at the time I screencapped this. It's currently at $564.

>>1283173
Bitcoin is real supply and demand, that's why it's not going to be as stable as fiat.

Fiat supply being infinite has consequences:

http://www.usdebtclock.org/

I don't see where you are going at with this anyway. I don't care about fiat being good or bad, I want to increase my purchasing power, and Bitcoin is the ultimate place to be, the problem is you are not seeing the big picture.

You need to stop wanting short answers for complex questions. Watch this to put things into perspective:

https://youtu.be/mRQs9Y6CUSU

>>1283190
If you have a second, can you create a realistic scenario of the average person that could make out? Like... if I have 1 bitcoin, what just happened? I get that it rose in value, but how? I guess I'm not understanding how you can make a killing by doing this.

>implying your shit currency is liquid
>implying you can exchange it anywhere for actual useful currency

Get fucked, shill.

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>>1283188
>not smarter than toilet paper

>>1283186
ETH is not suited to act as robust money for a number of reasons. It's turin complete design is simply a mistake for this duty, which is why a TC sidechain isolated from the main chain is a better idea (see Rootstock).

I think ETH will pump for a while, but I have serious doubts that it will have a place to exist once sidechains kick in.

I would hold some tho... I was considering dropping 1 or 2 BTC on it to short it, but as soon as I see a good BTC profit im selling.
NEVER let go your BTC in alts.

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>>1283198
Sweet nocoiner tears.

>>1283195
It's pretty simple.
You buy 1 BTC now at 566

3 days later is at 600

600 - 566 = 34 dollar increase, so your investment went up 6%

What's not to get?

>>1283198
You mean like, logging onto cointree, clicking sell, typing in my bitcoint amount and clicking confirm?

wew, so hard to turn bitcoin into "real money". How fucking clueless are you? This is not the thread for you son.

>>1283198
>implying you can exchange it anywhere for actual useful currency

Am I in 2013 again?

>>1283198

Cucks like this hinder any real discussion

Smart money has been in cryptos since BTC came out

>>1283201
lol what do you think bitcoins can do that toilet paper can't?

>>1282917
the only thing that's green for you is your text

>>1283463

lmao get a load of this delusional faggot

I have a question
I'm trying to sweep my paper wallet for the first time with this electrum wallet

but I think it generates its fucking private keys with a dictionary pass phrase everytime you create a new wallet with ti

the research I did about buttcoin before told me this was dangerous
isn't there a risk anything I sweep into it will be taken right out with people sweeping any key they can generate with dictionary passwords??

>>1283496
...
no idea what you are on about, but you can always change the encryption password or passphrase of your wallet (which encrypts all your private keys)

now if you import the private key on a paper wallet you should immediately send them to a new address of your own and never reuse the private key it held. that way the paper becomes worthless and useless.

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Next stop: $600

>>1283502
when you create a wallet, if gives you a long random sentence to save to "back up your wallet"

so then didn't they make private key/SHA hash from a risky dictionary password?

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>turned 0.5 BTC into 3 BTC last year through crypto trading
>turned 3 BTC into 14 BTC since January through trading and ICO investments
>still haven't sold my LSK or DAO, which have even more potential to grow
>BTC itself has increased significantly on top of that
>mfw turned $120 to $7700 in a year

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God I wish I would have got in on shitcoin sooner. Is it too late to jump in the moon rocket?

>>1283510
http://docs.electrum.org/en/latest/faq.html
>Your wallet can be entirely recovered from its seed. For this, select the “restore wallet” option in the startup.

is this what you are talking about? i imagine yes the client makes a hash from the sentence it generated randomly and this hash will be the seed for the hash-pseudo random generator to generate everything.

so best keep it very well hidden like in a hard box.

i don't think you have to consider this method with words any more risky than you know writing down the salt itself they probably calculated it to have the same entropy as the seed itself (hopefully)
>The seed created by Electrum has 128 bits of entropy. This means that it provides the same level of security as a Bitcoin private key (of length 256 bits). Indeed, an elliptic curve key of length n provides n/2 bits of security.

yeah well, most apps will let you move around the mouse to generate your seed and you have to backup the files to keep your private keys safe.

dunno if this is weak or bad but i don't much like it.

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>>1283518
yeah its just I read hackers try tons of addresses a day made from dictionary hashes to find brain wallets people made from dictionary passphrases put through the SHA256 hash to get their private key, so I'm skeptical of sending my money to such a wallet

I mean I get the passphrase is kinda long and may have good entropy but it might be undermined and limited if they're made only with dictionary phrases

is there a safer wallet I can use? electrum has some 2 factor authorization but pic related idk about relying on some 3rd party 'le coin site that can go down any second' I know nothing about

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>>1283479
:P

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this entire upswing is coming from China

and we all know that the Chinese are intelligent investors and not FOMO sheep

oh wait...

the smart money is in ether

>>1283525
what you described is like fishing for a single electron with the right spin in the clouds of jupiter.

the enthrophy is the mathematical answer you are looking for most salts only have 1 and 0 but their variations on a 256 bit string are insanely hard to guess. if you use other numbers like decimals and have a sufficiently long string like 78 decimals or something you would get the same difficulty, a dictionary contains words that are basically numbers or digits in this example by the millions yo you only need a couple to get the same difficulty.

>>1283530
guess why bitcoin goes up kek
money tries to escape china
tries hard

>>1283496
>isn't there a risk anything I sweep into it will be taken right out with people sweeping any key they can generate with dictionary passwords??

take how many words there are in the dictionary and raise it to the power of how long your seed is

so seed is length 12

let's say there are 200k words in the dict

200k ^ 12 = 4.096 e63 possible seeds

TAKE A STAT CLASS

>>1283531
well i just saw i mixed up some stuff, so if you have a binary string with good enthropy you can present it in any base or number system and it still has good enthropy. good enthropy suggests the binary string is hard to guess really random looking. but the truth is true random numbers can have very low enthropy.

>>1283537
alrighty yeah, guess that's good enough for me

>>1283516
>Is it too late to jump in the moon rocket?

Nobody knows,i dont think its too late though,im buying bitcoin every week regardless of the price,owning just 1btc is going to be out of reach for most people in the next few years.

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>>1283516
It's never late. In 10 years you will be considered a pioneer if you buy now.

>>1283525
Just get Bitcoin Core and save your encrypted wallet.dat in several places.
Make backups monthly.

ITT: ..16 and under.

>>1283188
>i have yet to seen any signs of this anon are you taking drugs?
>what are BIPs

>>1283526
I wouldn't keep all of that money in one wallet

>>1284721
>BIPs
>ever implemented
kek good joke anon

If it dips even a dollar I'm selling fuck this meme ride

Buy ethereum

>>1283516

Best time to buy Bitcoin was in 2009, second best time is now.

Buy ethereum. Bitcoin is done for

>>1285225
buy LISK, ethereum is done for

>>1285237
this, Lisk is gonna replace ETH, in German Engineering we trust.

>>1283516
Peak old said Bitcoin was too high at $10 (including myself). They/I did not see the implications of such a network until I did my homework. As the world becomes more and more digital, a secure form of transacting without third party is a huge advantage. Once a large percentage of the world uses Bitcoin the price will increase due to supply and demand. Could take it to the moon

>>1285237
Buy RISE, LISK is done for.

>>1285285
>was too high at $10
wat? it barely covered the electrical costs of mining id did not even allow for investment into mining hardware.
i did not get into mining back then because it seemed unprofitable unless you stole power or already had the hardware.

>>1283516
>>1285285
>tfw you were stealing power and had the hardware to mine coin back in the day but didn't

Fuck god damn I wish I hadn't been so computer illiterate back then. The whole process seemed to daunting and scary.

>>1282910
>10
no coiners on suicide watch!

I'm going to short the absolute shit out of this overrated piece of shit.

Let me drink your tears, fuckboys.

Ethereum is going to Mars. I'm going to be laughing at bitcucks when it hits $1000.

I'm going to be laughing at all you BTCucks, ETHcucks, LISKucks and WAVEcucks when TRUMP gets media attention and skyrockets.

Your overpriced overrated coins will never get you to the promised land. Only TRUMP has that power.

>>1283526
>has his main BTC stack in an online wallet

You deserve what's comming to you. You are the morons that then complain how you lost your money and how BTC is not secure. Just lol. BTC is natural selection, only the smart people will become rich in 10 years, those that managed to keep at least 20+ BTC to be in the 1 million club, will become rich. The fact that you will eventually lose those coins because you are an idiot, will make us get there faster since the supply shrinks everytime someone loses access to their coins.

>>1286124
Nocoiner holding 0 BTC spotted.

>>1284688
Nocoiner coping that smart kids are making money while doing shit nothing.
Just lol fucking cucks.

ITT: bitcuck cope

>>1283511
>tfw turned $400 in to $20,000 through eth

>>1286785
Ethereum make bitcon obsolete

>>1287124
>this faggot haven't heard of rootstock.
Go google it.
Eth is like million of other coins, all shit. Once rootstock is release on bitcoin network. Eth is dead.

>>1282916
What exchange had stop loss??

>>1287124
Bitcoin makes bitcoin obsolete.

>>1287135
i don't care either way they are both shit.
all virtual coins are shitcoins.
i don't like them one bit.
smart contracts are a meme because they can't check for any real life conditions met and thus utterly useless for any real world application.

>>1286128
>90% premine
>going anywhere

Do you have even a vague understanding of economics? Do you really think the market can sustain making those premiers multi-billionaires? Do you even into global GDP?

>>1285288
Buy Waves, Rise is doodoo

>>1287135
The Rootstock white paper was shit sucking up to power blocks in the bitcoin space hoping they will validate their little plan...

>>1286785
Newfag on bitcoin here, where should you keep them instead?

>>1287775
don't listen to him online wallets are perfectly safe never happened that a service just declared bankruptcy and stole your coins and money... oh wait...

>>1286129
whats next? hitlercoin?

>>1283122
My plan is to sell my .25 if/when BTC hits $800CDN, rebuy as much as possible once it crashes after the halving.

>>1287771
Cope. RSK whitepaper is perfect. Bitcoin to the moon, ETH's all usefulness is to make even more BTC.

>>1288277
not a bad plan if it was more i would suggest sell gradually as it climbs because it could crash before the halvening in theory, but not much you can lose with .25
it's not a bad strategy to say i will sell .05 at every $100 (6, 7, 8, 9, ...) and sell the rest if it tips down.

>>1288298
If it tips below (or around) $700CDN I'll sell immediately and still make money, but just not moon money.

The profit from that will then come from buying when it drops back down to ~$200 again, which should be sometime near the end of summer/fall.

>>1283169
If a bitcoin circuit becomes poor their bitcoins become worth little to nothing. If a gold circuit becomes poor they still have gold. Holding bitcoins in case of a monetary collapse is extremely foolish.
Bitcoins is good for 1 thing, swindling suckers by trading. As for any competitor, it's near worthless if the supply is valued at over $1 billion.

Doesn't anyone realize it's a fad? It's not useful to nearly everyone. Those most bitcoin will ever be is a cult classic.