Cryptocurrency

There are a lot of people with profitable wallets that cannot retrieve that money

Don't just think about making money, think about being able to get it back

some kind anon from /biz/ gave me one litecoin, i'm just gonna forget about it and see what happens

>>38305992

How does that work? Is it all just like theoretical currency or is it trapped overseas in some crazy encrypted account that you can't withdraw from?

>>38306045
If you have to ask, it's time to do some research

>>38306045
No, the coins are stored on their hard drive but they forgot the password to their wallet

I started mining Monero after I saw an article about darknet markets accepting it in addition to bitcoin

I have two and a half imaginary internet points now, and my room is nice and warm. I guess I should either sell them somehow or buy drugs with them or something.

>>38306072

I know, I was just hoping someone here could answer the basics and point me in the right direction. I've been under the assumption a lot of stuff you read about cryptocurrency on the normienet is total BS designed to bait people into losing their money

>>38306173
It is, and I have just as much interest in baiting people to blow their money on it and drive prices even higher

The guy handing out Litecoin is making an interesting play, giving people just enough to encourage them to invest more, and thus improve his profits when he cashes out

>>38306226

I guess that's fair, if I was in your shoes I wouldn't want to reveal my secrets to some newfag either

Worth a shot though

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>>>/biz/
Datway

>>38306283
r9k is a topicless board r-tard

>>38306278
I'm glad you understand. I mean, I encourage you to try to get in on this and ride the wave, but I'm only being honest with you because I already rode the wave and made enough bank to start an Amazon company, so my profits from cryptos doesn't even come close to what I'm making now. Some people still put so much emphasis on their BTC accounts, and it's a little sad because it's not a buyer's market at all but people are still buying, or even MINING if you would imagine that!

>>38306554

Lemme ask though what was your initial investment into BTC? How long did it take you to work your way up from that to get to the point where you decided to mostly cash out.

I couldn't even figure out how to buy bitcoin, let alone mining or selling it

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Don't buy now. It's a trap.
We're getting slaughtered.

>>38305930
How much disk space do bitcoins take up?

>>38306761
I invested 100$ back in 2011 to buy drugs, couldn't figure out the whole process for a little while, so by the time I went back to try to figure it out again, BTC was exploding. I used about half on drugs, but I cashed out near the first peak (when it was close to 1k).

>>38306341
/biz/ was literally made because crypto threads were flooding other boards.

>>38305992
coinbase and bitpanda buy coins instantly - stop repeating things you've heard other people say without fact checking

I invested in eth for 50 pounds each and sold at 370 each currently waiting a week for bitcoin and ethereum to drop more then investing in both at a 30/70 split investing 5k

don't go all in first otherwise you could lose and it'll really bother you invest a little more each time you win then you'll take small loses over time getting used to it

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>>38308633
listen buddie we're trying to accumulate here, stop trying to summon the final crash

>>38308807
"final" crash not with the amount of industry investment ethereum has, also the entire online drug trade functions on btc so that'll rise again aswell

>>38308834
Pick up a book. Start by Dow theory.
Until then don't go around trying to interfere.

Sold all my Ether today, bought Bitcoin. Going to the moon around August.

>>38307815
They don't take up any space unless you run the blockchain on your own PC.

>>38308888
I heard it takes up like 140GB, do I have to run the block chain?

>>38309511
If you want to run your own wallet, yes. Most people have an online Bitcoin wallet instead of running the blockchain themselves.

>>38309606
Ok, thanks man.
I'll start getting into crypto then.

>>38308834
>he thinks cryptos have a future
It doesn't take a three digit IQ to see the pyramid.
If you want to speculate that's fine, but follow the rules for your own sake (don't gamble more than you can afford to lose, don't fool yourself into thinking you're "investing", etc.).

i lost all my money due to this most recent crash
only option is to hodl