The bitcoin thread.

Discussion in 'Off-Topic Discussion' started by jokerthief, Dec 26, 2016.

  1. Kevo

    Kevo SMOKE BOMB!

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    What is bit coin cash?
     
  2. Problematique

    Problematique Wiedźmin.

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    Bits of cash in form of coin?
     
  3. m1ckey kn0x

    m1ckey kn0x deranged derelict Site Donor

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    @jokerthief will be able to explain it better with real points but I wouldn't buy it. It was a product of a fork. The founder or co founder, Roger Ver, seems like a shady piece of shit from what I've seen. The whole bcash thing seems sketchy to me. Roger Ver and bcash supporters shame bitcoin and it seems like bcash is used for nefarious purposes. They seem to have something to do with insider trading this past week which is illegal and it's in the headlines.

    Fuck Roger Ver.
     
  4. Palma

    Palma I am chaos

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    Wild day today. Maybe a good time to buy.
     
  5. m1ckey kn0x

    m1ckey kn0x deranged derelict Site Donor

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    Crazy ass week. A lot of shady shit.

    Yeah, wish I could buy more.
     
  6. Palma

    Palma I am chaos

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    If it drops below $10k, I'm gonna have to consider buying a coin
     
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  7. Trodden

    Trodden Talk louder, I cant hear you

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    Im a rather mild investor, and Ive been watching bitcoin to see if its worth it

    now that its been awhile, I have a few questions


    first: has the ups and downs of the market been reliable and consistent enough to really invest with any real strategy, or is all this still just fingers crossed? I know no market is truly predictable, but in context of using other markets and investment trends to see how useful the diversity is

    second: has this been a reliable investment, or is the influx of new buyers needed to maintain its growth?

    third: does this investment risk other investments. example, I mainly own gold and steel stock, and other markets from foreign dollar value and exports are huge in their respective value. is this a standalone stock, or can another area crash bitcoin without direct involvement. I really have gotten no good answer on this issue from anyone

    fourth: has the trends of it shown to be a good short gain stock, or is this truly the long long game investment?


    fifth: did this thread get iljo to stop posting here altogether?
     
  8. Palma

    Palma I am chaos

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    Most of your questions can be answered by reading through the thread, but I bet Joker will give you his opinion again.

    I wouldn't buy it as an ivestment. And I think the greedy people jumping in and out, looking to make a quick fortune, deserve to get burned.
     
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  9. Trodden

    Trodden Talk louder, I cant hear you

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    a lot of the thread is a year old

    Im really talking about the state of things now vs how they progressed


    I read thru the thread and really am looking for a 20/20 hindsight perspective
     
    Palma likes this.
  10. jokerthief

    jokerthief No reason to get excited. Site Donor

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    I'm dealing with carpal tunnel right now, so I can't type much. Learn about bitcoin the technology, if you believe in that, then yes, it's a great investment. If the technology works, it will remain the greatest performing investment on earth until it replaces the current financial system.
    --- Post Added -- Dec 23, 2017, ---


    Anyone who has bitcoin on coinbase, get it off asap. This might be nothing, or it might be a big deal.
    --- Post Added -- Dec 23, 2017, ---
    What this means is that coinbase fucked up with programing the transactions and the fee to send these 265 BTC is going to be larger than 265 BTC because the data required to make the transaction is so bloated. I don't recommend anyone use coinbase anymore for other reasons too. They've been shady as hell the last couple of months. Use Gemini or Kraken instead.
     
  11. Tapout

    Tapout Bringing Sexy Back Site Donor

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    Fuck, I haven’t bought the wallet yet. Is it ok to wait a few days? @jokerthief
     
  12. Palma

    Palma I am chaos

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    How do you move bitcoin from coinbase to Gemini or Kraken?
     
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  13. jokerthief

    jokerthief No reason to get excited. Site Donor

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    You can put in on a phone app until you get the hardware wallet. I like mycelium.
    --- Post Added -- Dec 23, 2017, ---
    You wouldn't want to do that because the IRS could think you have twice the amount of bitcoin than you actually do, since all the exchanges have to do KYC. Just put it on a free phone app like mycelium. Just make sure you write down your wallet seed at least twice and store that seed in separate and hidden locations. It would be good if you can memorize the seed too. Also make sure that you set a spending password so that you need a password to send btc somewhere. Make sure you have that written down twice too.
     
  14. Palma

    Palma I am chaos

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    Is this urgent? Should I do it immediately, or can it wait until tomorrow?
     
  15. jokerthief

    jokerthief No reason to get excited. Site Donor

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    You can wait until tomorrow. There is no run on coinbase yet. There may never be. But this is concerning and it's never a good idea to leave money on an exchange.
     
  16. Palma

    Palma I am chaos

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    I really do believe you. I'm just overwhelmed and lazy. I don't understand all the nuances with transfering the btc to a wallet and what the wallet seed is. I just need an hour to read everything and make sure I don't lose it. I have a tenth of a coin, so it's important enough to protect it.
     
  17. jokerthief

    jokerthief No reason to get excited. Site Donor

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    The seed is 12 or 24 random words that are generated when you generate a wallet seed in the phone or hardware wallet app. If you lose your phone, all you need is those 12-24 words and a new app will give you access to your wallet with your bitcoin in it. It's always a good idea to set a password to send btc with the app in case someone gets a hold of your phone. If they have your phone and they don't have that spending password, your bitcoins will be safe because they won't be able to transfer them anywhere. You could then just use your seed word list and restore the wallet on another phone. That's basically all there is to it. It's not too hard.

    I guess the only other thing (which will be stressful the first time) is sending the btc from coinbase to your phone app. Just download a coinbase phone app and then copy the phone wallet public key to the coinbase app. That way you know there is no typing error in the public key. If you still have any questions, just ask and I'll walk you through it before you do anything. I don't think this is too urgent, but it would be good for you to learn this because .1 bitcoin is actually a shitload of money. Or at least it will be. That could easily be worth half a million in 10-20 years.
     
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  18. m1ckey kn0x

    m1ckey kn0x deranged derelict Site Donor

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    It's a lot easier than it sounds. Just plug the wallet in, install the rest, and then you practically copy and paste the address, click send, done.
     
  19. jokerthief

    jokerthief No reason to get excited. Site Donor

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  20. Palma

    Palma I am chaos

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    Which address? The url or the lam code?
     

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