Can I get a rundown on this? I heard the chinks fucked it up

>>140299241

Go to coinbase.com and buy some bitcoin. You'll probably make 10x in the next year. If not more.

Screenshot this.

May as well go play poker at a casino

>>140300015
t. Doesn't understand it

>>140299241
>Is it actually possible to become rich
Fuck no. You could make a decent investment though. Assuming Bitcoin doesn't tank.

>>140299241
yes you can, I quit my job because of crypto
living the dream

>>140299241
>rich
>50k a year

Dude get a fucking job

>>140300694
yeah $1k/week is pathetic
can make much more with crypto if you know what you're doing

>>140299241
Bitcoin prices at the start of every year
2010 $0.06
2011 $0.35
2012 $6.63
2013 $15.11
2014 $881.66 (first massive bubble)
2015 $280.71
2016 $443.56
2017 $985.56
9/2/2017 $4678.50
Now 9/4/2017 $$326.06

Small dip, buy bitcoin and ether when it stops dropping

everything else is high stake gambling. friend made a lot on a shitcoin named Verge so if youre feeling lucky try gambling on coins after you take a look at their site/biz/where others are investing

>>140301114
>Now 9/4/2017 $$326.06
ment $4326.06
small dip but it goes back and forth like that almost daily, nothing to panic sell about yet

>>140299241
Can't trust anyone.

Great if you can get in, but everyone is a scam artist today.

I have no idea how it keeps afloat like this. People cannot afford to be scammed out of basic needs like food.

>>140300694
>>140300781
My bad I meant to say $1k a day.

>>140299241
The value of Bitcoin is based ENTIRELY on how much fiat currency people have spent purchasing Bitcoin. Other commodities like gold or wheat are base don complicated models of supply and demand, for example if a fungus destroys wheat crops all over the world, the price will spike. This cannot happen to bitcoin, so its price is influenced pretty much only by how much money people have spent on buying it.

What this means is that as long as there is a lot of money in Bitcoin, it'll be valuable. When there isn't, it wont. If half of it gets sold in a panic, the price will tank.

To try to get rich buying and selling BC means that you are tying to be smarter than all the other buyers and sellers who are trying the same thing. You have to know when it'll grow and when it'll tank. How can you know that? Are you sure you won't just buy in and then watch it go down to $10 a coin when emergencies force people to get their money out and use it on necessities?

>>140302185
Bitcoin is also based on demand. It's pretty much like gold in that it's worth is determined by how much people think it's worth is. Gold's value isn't determined by consumption like wheat.

Bitcoin is obviously not like wheat as it's demand isn't regulated by it's consumption.

>>140302185
Also,

>if half of it gets sold in a panic it will tank

That's pretty much how everything works. If there's a massive sell off of houses, gold, stocks, bitcoin, etc, it will tank. It's econ 101.

The only real demand for this shit is drug dealers trying to hide their money. Everyone else buys it thinking they will get rich. It's a tulip mania bubble and youre all going to get jewed

>>140299241
>>/biz/

>>140299241

Look into NEO - take advantage of the huge dip that just happened, everything will be okay (China and ICOs)

Along with that, OMG. You can thank me later

These are long-term holds (think a few years down the road). Unless you can do good technical analysis and devote most of your day swing trading, don't worry about the day-to-day fluctuations.

Make sure to diversify as well. Leave some in Bitcoin, maybe some ETH, then NEO & OMG, and maybe some ones you find interesting with a solid dev team, actual real-world use case, etc.

There's a lot of shitcoins out there but the potential return is real. Just be patient and think a little ways down the road - but the profits will come.

Also, don't ever sell at a loss. Hold steady.

Wait a couple of days for it to go lower, and then buy away!

>>140299921

Bitcoin shills always say this because people like you and me buying coins increase the value.

Eventually it will all collapse, probably sooner than later since they are running into all sorts of issues resulting in forks and uncertainty.

Roll the dice if you want. Hindsight is always 20/20

I heard Peter Schiff shilling GoldMoney. It actually sounds like a halfway decent proposition.

>>140306873
I've been waiting for that collapse for 10 years. Gold bugs have been waiting for the U.S. economy to collapse for at least 50 years. I wouldn't count on a collapse any time soon.

>>140302185
>Bitcoin. Other commodities like gold or wheat are base don complicated models of supply and demand, for example if a fungus destroys wheat crops all over the world, the price will spike. This cannot happen to bitcoin...

BTCs value can and has been influenced by any number of things. From forks to insolvent exchanges to theft to news of new coins and technology to ransom-ware and beyond.

The Mt. Gox incident is probably the best example of this.

>>140307604

Crypto currency is a little different than a currency in the real world backed by armies and real things.

You can't buy shit with Bitcoin and the one good thing it would be good for in theory is fast small transactions but those are broken and too expensive for the network to process so sending me $10 I'll wait multiple days for it to be confirmed.

I mean you name a few things that haven't collapsed yet but plenty have collapsed. Stock prices, businesses, etc. I might be wrong, but it sure seems like a fad.

I mean roll the dice if you want I don't care.

>>140301114

I remember the first DIP. I sold some of mine I had mined in college but there wasn't a great way to get rid of it back then (people using MTGOY LOL). I sold what I had left, most of it anyway, at 2800 earlier this year. Feel a little silly about that but oh well. Mined it when I lived in the dorm and electric was free. I had three Xeon servers running in that motherfucker.

>>140299241
Dude buy litecoin instead, way more affordable and it's about to skyrocket, I just got 6 more today during the dip. It was created by one of the coinbase execs and the platform is way better than bitcoin. They just started using it for lightning transfers too so it's going to go way up

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TFW you realize the scam that when someone buys BTC with real currency someone somewhere rejoices that they can offload their useless cryptocurrency for useful money.

>>140302185

>selling bitcoin for money means there is less money in bitcoin

that makes no sense though, because when you sell a bitcoin, the bitcoin is changing hands, and so is the money, but the amount of money in bitcoin stays exactly the same.

wouldn't it make more sense that the price is based entirely on supply and demand?

if some virus wipes out all the bitcoin miners on earth, bitcoin will be worth zero, regardless of how much money was put into bitcoin

>>140308995
That's the whole idea.

I pity the fools who are putting their livelihood on the line for this BS.

>>140306133
>devote most of your day swing trading
I can considering I'm a NEET

>>140308995

That's sorta how stocks work too.

>>140309651
Or maybe you are just salty some of us are actually making a profit without having to do a 9-5 slave wage

>>140311305
I'm a little salty from all the scamming f4m4l4m.

And now we have people asking for DL scans with selfies. This could not possibly be some explicit form of ID theft. Not at all!

>>140308987
> Dude buy litecoin instead
Reason one to be wary of Bitcoin. There is always a technically better "X Coin" waiting in the wings. If there is going to be a long lasting, widely accepted, crypto-currency it probably won't be version one.

>>140308201
>The Mt. Gox incident is probably the best example of this.
Reason two.

>>140308995
See reason one with the added benefit of not needing to turn some autist who bought thousands of coins back in the day into a billionaire.

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>>140299241
>become rich
>$1,000 a week
Oh, you leafs.. Such low expectations lol

>>140308669
Its smart that you sold, 2800 isnt a bad price. You got it essentially for just hardware costs, and theres no way to predict the pricing.

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>>140307194
GoldMoney is ultimate jewery. The physical metals dont exist your only trading made up "stocks" . If everone on GoldMoney tried to claim their physical gold, the market will collapse

>>140308325
Its used in money laundering and sending large transactions unnoticed

How else can you send $1m to someone on the other side of the world in less than 30 min and not pay tax?

>>140299241
Give BAT a look.
It hasn't taken off yet, though it has potential to be huge. It is going to be the currency backing a decentralized online ad system being created by Brenden Eich. (Creator of Javascript/Netscape/Mozilla) First big release of the BAT earning software is going to be implemented into Brave browser by the end of the month.
https://basicattentiontoken.org/

Monero is what Bitcoin should have been.
It's the only untraceable and fungible cryptocurrency.
It's going to $5000, and right now it's at $100.
Screencap this, and thank me later.

r/monero
r/xmrtrader
For more information on Bitcoin 2.0.
If anyone tells you to buy Verge, PIVX, or Spectrecoin, they are lying to you.
Do not listen to them
All these coins have public blockchains and they are a scam.
Monero is the only truly private cryptocurrency.
World black market marketcap: 1.8 trillion.
Monero marketcap: 1.5billion.

>>140300015
piosolver + poker?

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BTC is still a solid buy, but a steep entry. It should hit 6-7 after it recovers from today's dip.

Litecoin is the next thing, I dumped another 5K in. It will hit 2-300 by Xmas. Easy 5x opportunity with this low dip right now.

Don't miss this dip window.

>>140299241
it's a commie currency, where russian mob and cartel go to launder their money. I wouldn't bank on bitcoin for long term.

>>140301114

>>2010 $0.06

> tfw you first heard of it and downloaded the client and mined a few dozen coins then deleted it because you thought it was an interesting, but ultimately useless experiment due to the finite number of coins to be issued and the ever-growing energy consumption required.

Just another "bitcoin crashes 40% to (2$/5$/210$/1300$)

>>140314586
You pay taxes when you cash out

>hey guys, you can become a millionaire like me with [insert method]!
>I'm sharing [insert method] with you instead of keeping it for myself because I want to help everybody become rich!
If cryptocurrency was that good you wouldn't be shilling it non-stop

>>140313239
China banned all ICO based coins. Bitcoin and Litecoin are not ICO, so they are not banned.
Ethereum is fucked.

>>140314586

> less than 30 minutes

T. Someone who has never freaked the fucked out over unconfirmed transactions

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>>140306133

>technical analysis

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What wallet should I use?
Guy I work with recommended Electrum, but I don't know enough about this shit yet to pull the trigger.

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>>140319928
>tfw you never listened to the countless threads telling you to invest in buttcoin

I never wanted to be rich anyway....

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Nocoiners are so butthurt. I've made 60% on buttcoin in just the last two months.