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The bitcoin thread.

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

  1. slikguy

    slikguy Damn!

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    6,380,256
    I have a question about crypto currency.
    How long before governments want to either tax income made from bitcoin or bit coin transactions? What effect will that have on the currency?
    How is competition impacting bit coin?
    What happens now that majority of people can’t afford to buy 1 bitcoin?
     
  2. m1ckey kn0x

    m1ckey kn0x deranged derelict Site Donor

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    Hit it's new record high today! Just saw it a little while ago hit 5850 at the highest. We may see it hit 6k tomorrow which is insane.

    Such a great feeling to be a part of this right now. It is still only the beginning and anything can happen but it sure is nice to be on the upswing at the moment. I can only imagine how the very fortunate out there with this must feel right now. Life must be a nice big celebration high for them.
     
  3. Palma

    Palma I am chaos

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    125,775,517
    Like jokerbet says, it's not too late until it reaches $100k.
     
    m1ckey kn0x likes this.
  4. KevoIsAPoopyHead

    KevoIsAPoopyHead SMOKE BOMB!

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    Do you have to buy an entire bit coin, or can you just buy like $500 worth?
     
  5. m1ckey kn0x

    m1ckey kn0x deranged derelict Site Donor

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    That is right! I will buy more at some point. Probably on the next dip. Only wish I had the cajones to go in hard at the beginning of the year, and even now.

    I think anyone who values privacy and freedom alone should want this to succeed, profits aside.
    --- Post Added -- Oct 13, 2017, ---
    You can buy any amount you want. I used coinbase. They charge a small fee on the purchase and then when you transfer. My advice, as J informed me of, is to purchase a Trezor or Ledger wallet to store your coin on after purchasing them. I think my Trezor was $100. Small price to pay when you invest any substantial amount of money into it because places like Coinbase can still be hacked so better safe than sorry. Plus it allows you to take your coins into your own hands before places like coinbase come up with any other ways to pinch their hands into your pocket.

    You can still access your coins if your wallet gets lost or destroyed. It gives you a 24 word algorithm in case that happens. Just write it down on paper and store both in a safety deposit box and we should be ok for now. Yes, the irony in that.

    Also, by all means invest at any point right now because it's still just what should only be the beginning, but pay especially close attention to future dips by checking the news every day. I should have bought more on this last one. Lesson learned but it's hard to take a big risk in something so volatile. A friend of mine bought 1 whole when it dipped at 3200 a couple weeks ago. Now he's up 2500 at the moment on that one alone. You can make some nice coin on trading them but what you really want to do is plan on holding onto it for 10-20 years through all the ups and downs.

    If it succeeds in the idea behind it, in which there will be times that it could get ugly, they could very well be worth anywhere from 6 to 7 figures way down the line.
     
    Palma likes this.
  6. Tapout

    Tapout Bringing Sexy Back Site Donor

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    I bought 1 coin at $4600 last month. I wanted to invest like 10k when it was $700, but I got nervous.

    The coin dipped low this week then jumped high. Seems it’s only going higher. I use Coinbase right now to hold my bank.
     
  7. ILJO

    ILJO Mississippi Girl Site Donor

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    120,333,538
    This is what stops me from investing on a daily basis. It's like reverse sunken costs fallacy or something. Every time it goes up (all the fucking time), I just keep feeling like I missed out.
     
  8. Tapout

    Tapout Bringing Sexy Back Site Donor

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    That’s how I was. Like I was really bummed. Like really bummed. Then I bought it at 4500 or somewhere around there, only the next day to see it drop to 4200. But now it’s up. I want to buy one more, but I now have the same problem as before ha.
     
  9. Palma

    Palma I am chaos

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    I think that means you should buy one now.
     
  10. m1ckey kn0x

    m1ckey kn0x deranged derelict Site Donor

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    Broke over $6k today
    --- Post Added -- Oct 20, 2017, ---
    You should really buy a Trezor or Legder wallet. They're $80-100. Very easy to transfer your coin onto either. Much safer that way. Holding it on coinbase is a bad idea I've read and been told. Plus coinbase may try to come out with new ways to tax you of your holdings.
     
    Palma likes this.
  11. ATJ-Lucko

    ATJ-Lucko MMAtheist

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    @jokerthief said he had to leave won't say why then mentions bitcoin, now russia is getting involved in bitcoin, so was joker a russian operative?
     
  12. Tapout

    Tapout Bringing Sexy Back Site Donor

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    What are those wallets?
     
  13. m1ckey kn0x

    m1ckey kn0x deranged derelict Site Donor

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    Ledger and Trezor. I bought a Trezor. Think it was around $100. Transferred my coin from coinbase to the trezor address (with a small fee). You just plug the wallet into a computer and it explains the rest. Easy. Now I have it stored away.

    I am currently up $4183 at this very moment on my initial investment. It's climbed 1000 over this past week. I am hoping for what may be one last dip under $10k to hopefully buy a little more. We shall see.
     
  14. Tapout

    Tapout Bringing Sexy Back Site Donor

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    What’s the deal with this new bitcoin that’s happening on 11/13
     
  15. m1ckey kn0x

    m1ckey kn0x deranged derelict Site Donor

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    I think it has to do with Bitcoin cash. I'm not very familiar with it. Only thing I ever read about it is that it has problems as of right now. I think they're trying to upgrade it or something along those lines come the 13th. I don't have any bitcoin cash myself.

    I'm not nearly as knowledgeable on the whole subject as Joker is, unfortunately.
     
  16. Tapout

    Tapout Bringing Sexy Back Site Donor

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    Well fuck. @jokerthief come out from hiding we need you
     
  17. jokerthief

    jokerthief No reason to get excited. Site Donor

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    You motherfuckers! I gave you specific instructions on how to contact me offsite about bitcoin: so you should have done it!

    Fuck! I can't just let you guys flounder out there on your own in this space. Obviously I'm rich as fuck now because of bitcoin, so I have a lot of incentive to follow this space very carefully. It's very difficult to understand, and because it's such a crazy-disruptive technology, we're seeing some Game-of-Thrones type shit happening. However, I have total faith that bitcoin is the most anti-fragile investment the world has ever known. I've put hundreds of hours into studying it and I'm still putting in at least 3 hours in every day to continue my education. I'm doing that because I have a whole hell of a lot of skin in the game. I've put everything into bitcoin—and I converted all the forks like a motherfucking crypto-ninja! So I can help you all bypass a lot of the hardship and uncertainty I've gone though to get here.

    Alright, I'm back you cocksuckers—at least for this thread. Ask me anything. I'll help you get through the FUD (fear, uncertainty, and doubt).

    Also, how retarded was I to think I could just quit this place? This shit is too damn important. I can't let you all be without a knowledgeable guide. I'd be the biggest asshole ever if I did that. Yo, bitcoin is not going away; shit we haven't even started yet. Bitcoin is the internet 2.0. It's the biggest thing ever. I'm not even kidding when I say that.
     
    Tapout likes this.
  18. Tapout

    Tapout Bringing Sexy Back Site Donor

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    Thank you!

    -what is this fork that is happening. They haven’t made it easy to understand
    -I have one bitcoin in my Coinbase. What should I do
    -how much of income do you invest back in? Like say 20% check?
     
  19. jokerthief

    jokerthief No reason to get excited. Site Donor

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    This is a very difficult question and I need to go to sleep, so I'll answer it tomorrow. But when I say that bitcoin is going through some game-of-thrones type shit, this is what I'm talking about. So to answer this question will require a long post. But this is the most important question to understand.

    Get a Trezor hardware wallet. If you don't control your keys, you don't own your bitcoins. Bitcoin is a bearer-asset like cash. If you had 7K in cash at home, would you not think it be a wise thing to own a safe? Same thing with bitcoin. I'll write up a post later about bitcoin security.

    I have no idea what you're asking here. Rephrase the question please.
     
  20. NOT ILJO

    NOT ILJO Not a Villain

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    111
    I think jokerthief is a dirty white nigger who's trying to trick people into investing in bitcoin for his own benefit....
     

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