Thread: LOL @ bitcoin
12-22-2017, 06:32 PM
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#151
- IrishMarc
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Originally Posted By RightKindaGuy⏩
mirin crypto join dat. yes jelly, maybe mad.hi no coiners are you mad ive been trading coins since 2014 and never have to work a day in my life now?
bye no coiners
lol
bye no coiners
lol
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12-22-2017, 06:35 PM
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#152
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Originally Posted By faxanadu⏩
The crypto market will definitly surpass 10 trillion.I don't know what is possible with bitcoin. It's surpassed all my expectations so far. I would consider bitcoin the gold & silver of the crypto world. Most people don't realize how many problems crypto in general is solving and will solve. I keep reading things daily where I'm like, "Huh ... never thought of that solution...", and it is still scratching the surface. I mean ... nobody thought you'd be buying airline tickets on the internet 20 years ago. I guess what I'm getting at is that the overall market for crypto could easily surpass 10 trillion.
Literally the only way I can see bit coin being about is as the crypto reserve currency or equivalent. But if it's mean to be decetralised than that idea is ****ing stupid.......
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12-22-2017, 06:37 PM
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#153
- GabrielNovar
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Originally Posted By RocknRollMuscle⏩
Bitcoin undermines the whole banking system as we know it. peer to peer transactions. Never in modern history has this happened. WORLD WIDEthing is there's no GUARANTEE bitcoins will keep rising in value next few years. No guarantee there won't be another bust and it'll lose 90% of it's value.
Remember the dot com days? mortgage crisis?
Sure it could rise big time. But it could also LOSE big time. Problem is: do people want to take the risk of tens of thousands of dollars in bitcoins? If you have that much in bitcoins I can see how you could freak out on days like today.
Remember the dot com days? mortgage crisis?
Sure it could rise big time. But it could also LOSE big time. Problem is: do people want to take the risk of tens of thousands of dollars in bitcoins? If you have that much in bitcoins I can see how you could freak out on days like today.
12-22-2017, 06:40 PM
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#154
12-22-2017, 06:42 PM
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#155
- cardioman_23
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Originally Posted By SmAshmoto⏩
5 cents a coin in 2010 to 18k a coin in 2017 along with small drops and huge peaks, lol "burned out"Bitcoin burned out faster than your hair would if you ever set it on fire like you promised
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12-22-2017, 07:40 PM
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#156
- BaconBackBrah
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Made well over 50k from Crypto this year, I'll take this L.
BTW just giong to wait for it to get to all time low and then put 10k into it again
BTW just giong to wait for it to get to all time low and then put 10k into it again
12-22-2017, 10:37 PM
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#157
- RonaldMcflurry
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Originally Posted By LinuxJon⏩
The bitcoin ride has been on fire, just like your hair should be.Hope all you guys who bought low and made good gains on paper cashed out by now, bc it’s not gonna be back this high for years (if ever). Intrinsic value is about $2k right now. This was bound to happen.
Hope you guys all bought low, enjoyed the bubble and took your profit.
Hope you guys all bought low, enjoyed the bubble and took your profit.
Nuggets of Wisdom
12-22-2017, 11:20 PM
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#158
12-22-2017, 11:21 PM
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#159
- LinuxJon
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Originally Posted By cardioman_23⏩
You’re completely ignoring the limiting factors here. You can’t pay taxes in bitcoin, it’s not traceable, and therefore your employer will never be allowed to pay wages in bitcoin. Which means in terms of being an actual USABLE currency, it will never happen.theoretically and mathematically this is completely possible, as bitcoin is universal and the entire worlds wealth easily surpasses 10.5 trillion, and anyone with money and internet can buy bitcoin
if bitcoin becomes universally accepted as a currency this is easily possible
if bitcoin becomes universally accepted as a currency this is easily possible
The price is going up purely on speculation that this will be used as an actual currency by normal people. That will never happen unless suddenly libertarians control major governments. Yes it will continue to be a great option for limited purposes online. That’s it.
Eventually the whole thing is going to die or stabalize at a price that makes it a purposeful niche use thing. I’m mirin people who got lucky and got rich off it so far, but I’m curious how many more people will eventually lose their shirt.
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12-22-2017, 11:33 PM
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#160
- Mythenthefang
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Originally Posted By LinuxJon⏩
But who was OmiseGo allowing anyone to pay anyone in any token they want?You’re completely ignoring the limiting factors here. You can’t pay taxes in bitcoin, it’s not traceable, and therefore your employer will never be allowed to pay wages in bitcoin. Which means in terms of being an actual USABLE currency, it will never happen.
The price is going up purely on speculation that this will be used as an actual currency by normal people. That will never happen unless suddenly libertarians control major governments. Yes it will continue to be a great option for limited purposes online. That’s it.
Eventually the whole thing is going to die or stabalize at a price that makes it a purposeful niche use thing. I’m mirin people who got lucky and got rich off it so far, but I’m curious how many more people will eventually lose their shirt.
The price is going up purely on speculation that this will be used as an actual currency by normal people. That will never happen unless suddenly libertarians control major governments. Yes it will continue to be a great option for limited purposes online. That’s it.
Eventually the whole thing is going to die or stabalize at a price that makes it a purposeful niche use thing. I’m mirin people who got lucky and got rich off it so far, but I’m curious how many more people will eventually lose their shirt.
Who was NEO building a "smart economy" of assets + identification + trust = woot?
who was crypto token companies already solving the problems you make out are unsolvable
who was nocoinz
who was hurry up and set your hair on fire like you said
who was cute cat bro post ore pics
also for anyone interested in why people won't use BTC for transactions - it's called Gresham's Law, in essence: "bad money replaces good". I.e. people are more likely to transact with the chitty fiat currency and hold onto the good cryptocurrencies even after mass adoption because the chitty fiat currencies lose purchasing power over time while the good cryptos gain purchasing power.
Why use up your good money bro?
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12-23-2017, 12:08 AM
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#161
Originally Posted By BaconBackBrah⏩
I'm curiousMade well over 50k from Crypto this year, I'll take this L.
BTW just giong to wait for it to get to all time low and then put 10k into it again
BTW just giong to wait for it to get to all time low and then put 10k into it again
If you've made 50k from bitcoins this year; the capital gains tax you'll have to pay the IRS is around $5-$10k
Seems very expensive to shell out real money to pay the tax for something that might not even hold its value tomorrow? Whats your justification?
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12-23-2017, 12:14 AM
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#162
- quadfecta
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Originally Posted By T-mac⏩
Taxes are why I don't play the cash out at the top and buy in low game. The exchange I use is obligated to report all transactions to the IRS anyway. It's not like 3-4 years ago where the IRS didn't care because so few people were trading bitcoin. And with exchanges freezing transactions like they did on today's drop there's no guarantee you can buy back in at a good price; it might go up 10-15% before they let you purchase 50k worth of cryptoI'm curious
If you've made 50k from bitcoins this year; the capital gains tax you'll have to pay the IRS is around $5-$10k
Seems very expensive to shell out real money to pay the tax for something that might not even hold its value tomorrow? Whats your justification?
If you've made 50k from bitcoins this year; the capital gains tax you'll have to pay the IRS is around $5-$10k
Seems very expensive to shell out real money to pay the tax for something that might not even hold its value tomorrow? Whats your justification?
12-23-2017, 12:25 AM
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#163
- aleeboy
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I like how Miscers get technical and analytical when it comes to coins.
Let's be real tea, it's pure speculation/ gambling. I prefer gambling as you can see who else is betting and you know you are against the house.
Let's be real tea, it's pure speculation/ gambling. I prefer gambling as you can see who else is betting and you know you are against the house.
"The manlet is a savage beast that knows no moral bound. After falling in disgrace to a manmore, a ravaged manlet would not hesitate to come from behind and land a sucker punch/ swing with a rock to the back of a manmore's head. They are ruthless and you need to spend some more time in the gutter to even begin trying to comprehend what goes on in their minds."
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12-23-2017, 12:50 AM
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#164
Originally Posted By quadfecta⏩
don't you think this is a big problem for bitcoin?Taxes are why I don't play the cash out at the top and buy in low game. The exchange I use is obligated to report all transactions to the IRS anyway. It's not like 3-4 years ago where the IRS didn't care because so few people were trading bitcoin. And with exchanges freezing transactions like they did on today's drop there's no guarantee you can buy back in at a good price; it might go up 10-15% before they let you purchase 50k worth of crypto
from the perspective of bitcoin as a currency: users can't use or sell coins without being taxed and with the price fluctuating so much people could be paying a lot more tax than they can afford. The obvious solution would be to stabilize the price somehow which brings the next problem. No one would invest in it if the price is stable. people are in it for a quick buck.
what do you think is more important for the growth of bitcoin: supporting the investors or supporting the currency?
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12-23-2017, 01:17 AM
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#165
- LinuxJon
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First, I’m not saying people can’t get rich if they are right about where to get in and where to bail. I’m saying in 5-10 years, it won’t exists and/or will be worthless.
-bitcoin was invited to be used as a currency, not an investment vehicle.
-99.9% of people holding coins are using them as an investment and buy no actual goods/services with them
-there is no real progress being made toward it being useful for legal commerce. No major retailers are even considering it. In b4 this obscure website takes them.
-the entire value of the coin is based on the idea it’s useful as a currency in the future. It isn’t even like gold or silver (useful for commercial purposes). Unless it becomes useful for daily commerce, it’s ultimately worthless
-as the speculation makes the value of BC so volatile, this actually discourages it being adopted by major storefronts
-unless it’s acceptance as a currency becomes much more universal, there is no way the current BC holders will be able to all cash out.
-bitcoin was invited to be used as a currency, not an investment vehicle.
-99.9% of people holding coins are using them as an investment and buy no actual goods/services with them
-there is no real progress being made toward it being useful for legal commerce. No major retailers are even considering it. In b4 this obscure website takes them.
-the entire value of the coin is based on the idea it’s useful as a currency in the future. It isn’t even like gold or silver (useful for commercial purposes). Unless it becomes useful for daily commerce, it’s ultimately worthless
-as the speculation makes the value of BC so volatile, this actually discourages it being adopted by major storefronts
-unless it’s acceptance as a currency becomes much more universal, there is no way the current BC holders will be able to all cash out.
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12-23-2017, 01:19 AM
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#166
- butwhowasgains
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First!
I have a dream, that one day, my username will be ironic.
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12-23-2017, 01:19 AM
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#167
12-23-2017, 01:23 AM
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#168
- matiemcgee123
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- matiemcgee123
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What about ethereum? Sounds like you were a little late to the party.
Cheeky Kent
12-23-2017, 01:37 AM
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#169
12-23-2017, 01:41 AM
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#170
- stevemckenna
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I hope OP collapses after he burns his hair on fire
12-23-2017, 01:46 AM
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#171
12-23-2017, 01:47 AM
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#172
12-23-2017, 01:48 AM
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#173
- butwhowasgains
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Originally Posted By kopikum⏩
Do it!Youre one of the dumbest persons I have ever seen in my life so if you say bitcoin is a bad investment I'll put all my money on it
I have a dream, that one day, my username will be ironic.
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12-23-2017, 01:53 AM
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#174
- quadfecta
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- quadfecta
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I'll just leave this here
User Anonymity
Bitcoin purchases are discrete. Unless a user voluntarily publishes his Bitcoin transactions, his purchases are never associated with his personal identity, much like cash-only purchases, and cannot be traced back to him. In fact, the anonymous Bitcoin address that is generated for user purchases changes with each transaction.
No Third-party Interruptions
One of the most widely publicized benefits of Bitcoin is that governments, banks and other financial intermediaries have no way to interrupt user transactions or place freezes on Bitcoin accounts. The system is purely peer-to-peer; users experience a greater degree of freedom than with national currencies.
Purchases Are Not Taxed
Since there is no way for third parties to identify, track or intercept transactions that are denominated in Bitcoins, one of the major advantages of Bitcoin is that sales taxes are not added onto any purchases.
Very Low Transaction Fees
Standard wire transfers and foreign purchases typically involve fees and exchange costs. Since Bitcoin transactions have no intermediary institutions or government involvement, the costs of transacting are kept very low. This can be a major advantage for travelers. Additionally, any transfer in Bitcoins happens very quickly, eliminating the inconvenience of typical authorization requirements and wait periods.
Mobile Payments
Like with many online payment systems, Bitcoin users can pay for their coins anywhere they have Internet access. This means that purchasers never have to travel to a bank or a store to buy a product. However, unlike online payments made with U.S. bank accounts or credit cards, personal information is not necessary to complete any transaction.
Also know a few places near me who accept bitcoin as down payment on new cars, so your idea that its useless because you can't buy actual goods with it is preposterousBitcoin purchases are discrete. Unless a user voluntarily publishes his Bitcoin transactions, his purchases are never associated with his personal identity, much like cash-only purchases, and cannot be traced back to him. In fact, the anonymous Bitcoin address that is generated for user purchases changes with each transaction.
No Third-party Interruptions
One of the most widely publicized benefits of Bitcoin is that governments, banks and other financial intermediaries have no way to interrupt user transactions or place freezes on Bitcoin accounts. The system is purely peer-to-peer; users experience a greater degree of freedom than with national currencies.
Purchases Are Not Taxed
Since there is no way for third parties to identify, track or intercept transactions that are denominated in Bitcoins, one of the major advantages of Bitcoin is that sales taxes are not added onto any purchases.
Very Low Transaction Fees
Standard wire transfers and foreign purchases typically involve fees and exchange costs. Since Bitcoin transactions have no intermediary institutions or government involvement, the costs of transacting are kept very low. This can be a major advantage for travelers. Additionally, any transfer in Bitcoins happens very quickly, eliminating the inconvenience of typical authorization requirements and wait periods.
Mobile Payments
Like with many online payment systems, Bitcoin users can pay for their coins anywhere they have Internet access. This means that purchasers never have to travel to a bank or a store to buy a product. However, unlike online payments made with U.S. bank accounts or credit cards, personal information is not necessary to complete any transaction.
12-23-2017, 02:04 AM
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#175
- DavidL913
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wrong
There are products/services being created on platformd.
It's just that it's in the beginning phases and nothing being promised has entirely been released. You have roadmaps for the projection of the future services/products. It's only a matter of time things will happen. When governments and major institution esp. banks invest in blockchain technology for services, there is a future for it.
Not all will succeed. a majority won't make it. But the dominant ones will stand out and provide a real world service/product.
Bitcoin may or may not be replaced. But there may be a new dominant crypto to replace it.
The currency aspect of it is still premature, but it is slowly being integrated and adopted.
Having alternative forms of payments that people can use for themselves creates more sovereignty and autonomy for the individual. This is a more political aspect of cryptocurrency, which is a whole nother topic.
EDIT: I'm writing this assuming that by Bitcoin you mean blockchain and cryptocurrency as a whole. cryptocurrency (bitcoin) and blockchain technology may be mutually exclusive.
There are products/services being created on platformd.
It's just that it's in the beginning phases and nothing being promised has entirely been released. You have roadmaps for the projection of the future services/products. It's only a matter of time things will happen. When governments and major institution esp. banks invest in blockchain technology for services, there is a future for it.
Not all will succeed. a majority won't make it. But the dominant ones will stand out and provide a real world service/product.
Bitcoin may or may not be replaced. But there may be a new dominant crypto to replace it.
The currency aspect of it is still premature, but it is slowly being integrated and adopted.
Having alternative forms of payments that people can use for themselves creates more sovereignty and autonomy for the individual. This is a more political aspect of cryptocurrency, which is a whole nother topic.
EDIT: I'm writing this assuming that by Bitcoin you mean blockchain and cryptocurrency as a whole. cryptocurrency (bitcoin) and blockchain technology may be mutually exclusive.
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12-23-2017, 02:10 AM
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#176
Originally Posted By quadfecta⏩
What exactly are you leaving here? Reasons for every government on the planet to eventually shut Bitcoin down?I'll just leave this here
Also know a few places near me who accept bitcoin as down payment on new cars, so your idea that its useless because you can't buy actual goods with it is preposterous
Also know a few places near me who accept bitcoin as down payment on new cars, so your idea that its useless because you can't buy actual goods with it is preposterous
12-23-2017, 02:17 AM
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#177
- samsbolton
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Originally Posted By Gainzzz⏩
It's laughable that you can escape a sales tax by paying in bitcoin..you can't. It's tax avoidance. It's illegal. The retailer would be in trouble, so would you if you turn up with a 50k car on the drive and no tax receipt.What exactly are you leaving here? Reasons for every government on the planet to eventually shut Bitcoin down?
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12-23-2017, 02:54 AM
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#178
- Phobaphobia
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Why do you make a thread every day about this subject? Sounds like someone missed the early boats.
12-23-2017, 02:58 AM
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#179
12-23-2017, 03:08 AM
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#180
- VinnyPazRules
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Originally Posted By LinuxJon⏩
Yeah you could get rich of bitcoin if you bought it when it first came out and still have it. If not you missed the boat *******First, I’m not saying people can’t get rich if they are right about where to get inand where to bail. I’m saying in 5-10 years, it won’t exists and/or will be worthless.
-bitcoin was invited to be used as a currency, not an investment vehicle.
-99.9% of people holding coins are using them as an investment and buy no actual goods/services with them
-there is no real progress being made toward it being useful for legal commerce. No major retailers are even considering it. In b4 this obscure website takes them.
-the entire value of the coin is based on the idea it’s useful as a currency in the future. It isn’t even like gold or silver (useful for commercial purposes). Unless it becomes useful for daily commerce, it’s ultimately worthless
-as the speculation makes the value of BC so volatile, this actually discourages it being adopted by major storefronts
-unless it’s acceptance as a currency becomes much more universal, there is no way the current BC holders will be able to all cash out.
-bitcoin was invited to be used as a currency, not an investment vehicle.
-99.9% of people holding coins are using them as an investment and buy no actual goods/services with them
-there is no real progress being made toward it being useful for legal commerce. No major retailers are even considering it. In b4 this obscure website takes them.
-the entire value of the coin is based on the idea it’s useful as a currency in the future. It isn’t even like gold or silver (useful for commercial purposes). Unless it becomes useful for daily commerce, it’s ultimately worthless
-as the speculation makes the value of BC so volatile, this actually discourages it being adopted by major storefronts
-unless it’s acceptance as a currency becomes much more universal, there is no way the current BC holders will be able to all cash out.
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