Can someone explain to me what bitcoin is? >Is it a

>Can someone explain what Bitcoin is?
No. Get the fuck off of this board and 4chan. You are not welcome here.

>>1894869
Meme bubble money that is extremely risky and give you emotional breakdowns and euphoria.

That said I own some.

>is it a good investment
Let me check my crystal ball...

>>1894869
its an online currency, except one bitcoin is hundreds of dollars now, we're shilling milocoin now.

>>1894869
Bitcoin is not an investment at all, good or bad.

Bitcoin is a speculation play. You buy and hope it appreciates in value. there is no underlying business operation that you can assess as to whether your share of the "business" will be more valuable in the future. You are only speculating that your piece of a finite resource will:
a - remain finite
b - be in high demand.

>>1894881
/thread

>>1894869
If you really want to make some money, buy XMG (Magi Coin) instead. It's going to moon tonight.

You can still get a good deal in if you go now though.

>>1894869
https://www.youtube.com/watch?v=OG3WMaWwJig

>>1894881
>Bitcoin is a speculation play.

If you invest in it, yes.

But above all it's a digital currency and it's there to stay as long as the internet will exist.

File: 1489526987263.gif (469KB, 500x375px) Image search: [Google]

469KB, 500x375px

>>1894869
A pure digital currency. They are created solving complex mathematical problems using number grinding software. Solving these problems generates bitcoins, but the process is slow and there is a finite amount of solvable problems meaning the remaining bitcoins and current bitcoins will have ever increasing value.

This is because bitcoins are lost over time due to theft, and blocks that lose their data, or simply destroyed/lost.

There is also a movement to find ways to hide their transactions and they try to do so using bitcoin, or to avoid international taxes presumably, so this could be also a money laundry method. Because of these things in the last few years there has been efforts to stabilize it as a recognized currency, but to do so also means giving up some of the anonymous policies since better tracking methods would be enforced. There is also a bit of myth behind anonymous purchases using bitcoin because you definitely leave a trail when you buy or sell bitcoin. It is just newer technology so less people have experience in tracking it.

People are speculating the price of bitcoin will always go up, similar to gold, with the cravat that bitcoin don't really exist physically. It is a very volitile market. This is also why you see many other "bitcoin" varients popped up over the years as they all try to cash in on the popularity. Most of investors, investing in any digital coin are exposing themselves to huge underlying risk and not basing their investment on any good fundamental principles.

There are some major companies that have put 1-2% investments into digital currency, but it remains to be seen if they really consider this to be a worthwhile investment. You may see a picture with all the companies that invested into Etherium for example but again, it was such a small amount I would hardly call that an investment of note.

Is it a good Investment? Probably not to 99% of people. I suspect most investors on /biz/ are only day trading.

>>1894869
All countries that matter are built on the keynesian model, and they don't seem to be changing that any soon. Basically whole world will look like Venezuela in 30-50 years. Bitcoin and crypto will be diamonds by then.

>>1894869
buy eth bitcoin is like a cassette while eth is a .flac

Artificially scare digital resource similar to gold in that the supply is nearly fixed

File: 1451603107547.png (679KB, 1275x721px) Image search: [Google]

679KB, 1275x721px

>>1894869
It's code for white supremacist. When people say they are going to buy bitcoin, or buy bitcoin it means attack a nigger. Buy etherium means attack a jew.

File: 1475103679875.jpg (66KB, 630x345px) Image search: [Google]

66KB, 630x345px

>>1894877
>>1895789

>milocoin
this means attack a queer.

Pivx is a good investment rn, super cheap. Will see $2-3 in a couple months max