Hello /biz/, what is bitcoin? How does one use it safely? Could you please tell me some good advice on how to use it? Or if it's even worth it?
It's used to buy drugs and child porn. It was pumped and dumped years ago and people who didn't sell have regret and keep shilling it hoping it one day makes a comeback. It's a buy and hoard "currency" with little circulation which makes it extremely volatile. One little move and people scream it's going back to $1,000. In the mean time, 97% of Bitcoin owners own virtually 0% of the market cap. Less than 2% of owners own Bitcoin. It's monopolized and won't go anywhere until people start circulating it and building an economy around Bitcoin, which will never happen because people would rather hoard it and hope it magically goes up. People who own Bitcoin have no understanding on how finance or economics works. They believe everything else is rigged or controlled and are delusional enough to believe that Bitcoin isn't.
>>989724
Yea i don't really have much knowledge on finance and that's really the only reason why I ask - drugs - I've read that a lot of people use it to buy drugs, I'm interested in buying some cannabis from America/UK and get it delivered to my home
>>989723
Three bitcoin truths:
>There's no legal thing you can do with bitcoin that you can't 100x easier with real money.
>There's almost nothing legal you can do with bitcoin aside from own it and watch it drop in value.
> There is nothing illegal you can do with bitcoin that you can't do 50x cheaper with real money.
Recap: Hard to acquire and use. Almost no legitimate use other than the speculators downward spiral. Drugs cost more with bitcoin, because drug dealers say they are worth $50/each but they cost $250 to buy on exchanges.
In short, don't.
>>989724
>>989743
how cute.
Bitcoin is going to explode without you guys, you're like the dinosaurs of finance.
>>989748
Whoops, wrong pic
>>989748
I'm a real business owner. It can't explode without me, because I exchange goods/services for currency. Doesn't matter if it's Reserve notes, scamcoins, or physical gold. Whatever is the most liquid exchange medium, that's what I take. See you at retirement age cointard. :^)
>>989750
You're proving my point.
>One little move and people scream it's going back to $1,000
>>989723
>what is bitcoin
https://www.youtube.com/watch?v=Um63OQz3bjo
https://www.youtube.com/watch?v=l9jOJk30eQs
How does one use it safely?
First rule of bitcoin, keep your private key safe.
If you do that right there's nothing that could go wrong.
https://bitcoin.org/en/secure-your-wallet
https://en.bitcoin.it/wiki/Buying_Bitcoins_(the_newbie_version)
https://blockchain.info/
>good advice on how to use it?
All you need is a public key to send bitcoins to a wallet.
>Or if it's even worth it?
Well, if you want to buy drugs from the dorkweb, then bitcoin lets you do that. Otherwise, there really isn't much of an advantage to use bitcoin right now.
There is slightly lower transaction fees, but merchants usually eat them anyway, so it's kind of a moot point for a customer.
The main reason why people love bitcoin is because it's capped. There will only ever be 21 million of them.
>>989750
they REALLY need to pass fucking BP101 in December or do a soft fork so transactions are not fucking old fart speed.
>>989723
Different forms of "money" have different advantages.
The "best" money would ideally be:
>permanent (or at least difficult to destroy)
>easily transferable
>impossible to steal (or at least difficult)
>useful (ie; it will hold its value no matter what because people actually need it for something)
Unfortunately, money can not be all of these things at once.
Gold is:
>(+) indestructible
>(-) somewhat difficult to transfer
>(+) difficult to steal (easy to hide, that is)
>(-) not useful, except in appealing to vanity
Fiat money is:
>(+) permanent
>(+) easy to transfer
>(+) very difficult to steal
>(-) literally paper and coins
Bitcoin is:
>(+) Indestructible
>(+) Easiest to transfer
>(+) VERY difficult to steal
>(-) Literally nothing
>>989797
Everyone has a smartphone, technology is moving forward, BTC is actually perfect for the TPTB because the ledger can use smart contracts there working on to track where you go on an unhackable blockchain. On the blockchain you will put your,car,registration,children etc.
Not only that Bitcoin Invmt USD
OTCMKTS: GBTC - Dec 8 10:04 AM EST
53.25Price increase0.45 (0.85%)
*The blockchain* is *Bitcoin*
Bitcoin is a Pyramid scheme, they need fucktards to keep investing money into it so they can sell their Bitcoins and never buy another Bitcoin ever again.
>>989723
Even if gold were to be a currency and we lost all infrastructure do you think the elite would allow that? Read any economic collapse that happend, weapons and food were the most valuable.
Why is gold being massively being sell d off?
Because the propaganda machine is making videos in large portions to create a massive buy in gold so they can make use of whats left of gold.
https://www.youtube.com/channel/UCrhOLQRoqVgVqhHFm9V5MXw/videos
Take a look :)
>buy the most trusted bullion dealers blah blah blah
>>989821
>https://www.youtube.com/channel/UCrhOLQRoqVgVqhHFm9V5MXw/video
s
No seriously take a look, this is the gold sellers business model.
If it's worth so fucking much why sell the fucking gold in the first place?
ITT:
>One weird, sad, poor anon.
>4 ips via proxy
Not much else going on. Don't forget to sage folks!
>>989724
This. Everytime a Bitcoin thread springs up someone is willing to put in the extra time to give the hard truth about Bitcoin without anything to gain by it. I've watched you guys counter Bitcoin shills ever since the creation of this board, day in and day out tirelessly. You are the true heroes of /biz/ defeating ignorance one thread at a time.
>salute
>>989723
The internet of money, friend :^)
>>989897
>defeating ignorance
ayy lmao
>>989897
Topkeke
>>989851
I think this too. There can't be many Bitcoin shills left here.
>>989743
>>There's no legal thing you can do with bitcoin that you can't 100x easier with real money.
Wait until OpenBazaar opens.
>>There's almost nothing legal you can do with bitcoin aside from own it and watch it drop in value.
Wait until OpenBazaar opens.
>> There is nothing illegal you can do with bitcoin that you can't do 50x cheaper with real money.
Drugs, and some small amount money laundering im doing.
>inside the mind of an average anti-bitcoin shill
https://www.youtube.com/watch?v=6qSj24_E_lU&feature=youtu.be
Watch this dude showcase the magic of Bitcoin in the first 2 minutes.
https://www.youtube.com/watch?v=8zKuoqZLyKg
If you still can't grasp what happened here, and the ramifications in how people send money across the globe, you have no hope.
This doesn't even take into account the other endless applications Bitcoin will have such as smart contracts and so on. The disruption will be happening in every sector you can think off, and cannot be stopped.
The fact Bitcoin has won is that, just a fact. The people that still don't get it are at the same level of David Letterman saying "why would we need the internet to listen to the radio when we have like.. radios" to Bill Gates in 1995.
Being a visionary is fucking hilarious.
https://www.youtube.com/watch?v=lskpNmUl8yQ
Your first mistake was asking what Bitcoin is here, in a place filled with idiots suffering from extremely normalcy bias and think they are mature by sucking Jamie's Dixon average sized cock.
Now what a future billionaire in motion and take fucking notes, maggot.
https://www.youtube.com/watch?v=9pyVvq-vrrM
PS: And remember, don't buy Bitcoin, it's goign to crash.
https://www.youtube.com/watch?v=XbZ8zDpX2Mg
>>989760
>BIP101
You are a fucking retarded. This is the level of technical knowledge in Bitcoin in /biz/. Flush yourself.
The fact that I can send 10k every 2 month to someone in a different country without going to bank or any sort of institution and with less than 1 cent in fees and they received it in less than an hour is why I pretty much believe bitcoin will work.
It might not be to the moon value but it will replace western union or paypal or some other wire transfer crap.
All these antibitcoin here either put money in it when it is at its peak so they are losing money or they didn't get in when it's early and now they are angry at themsleves
>>990397
Nope. Try reddit. Hoarding magic money will never make you rich. A few early adopters made some scratch, but the rise is over. Nobody uses it, except for drugs, and drug dealers say a coin is worth $50 and dropping, not $250. Your hoarding currency's market price is dictated by weed sellers, and they don't hold it in high esteem.
>>990397
>doesn't understand that's literally what letterman does, playing devils advocate
>thinks that letterman was being at all sincere
You're a few beans short of an enchilada plate aren't ya?
>>990412
>bla bla bla nobody uses the internet
https://www.youtube.com/watch?v=lskpNmUl8yQ
Get cancer.
>>990416
>im a babby that wasn't even born in 1995 and doesn't know that was exactly the average non-computer nerd reaction to the internet
Is this how you cope?
>>990422
You're acting like the faggotcoin boom hasn't come and gone. Letterman said that when most of us were just leaving AOL; you're acting like, and your timing is analogous to, him saying "who needs internet" when we were sending our first friend requests.
Shitcoin is done in this form. The blockchain will be co-opted by Citigroup, yes, but you'll only be holding valueless hash marks that were meant to be exchanged for goods and services. You stuffed them under your mattress because they were supposed to make you rich.
You aren't holding Google stock; you're holding pets.com.
>>990424
You sure the green text isn't about you? Lmao. I was born in the 70s, son. I rode the supply chain management boom in the 90s, the dotcom bubble in the 2000s and now am VP at a web development firm with multiple Fortune 500 clients. I started out in tech and still am in tech. My first computer was an Apple II where I learned Basic programming. Recently I have been designing complete web applications for industrial use.
For some odd reason I don't remember much anyone at all revolting against the idea of the Internet. From what I remember people saw tremendous value immediately and it exploded to mainstream use incredibly fast. There definitely wasn't the same animosity people have to Bitcoin/Bitcoiners. Maybe it has something to do with scams, frauds, Ponzi schemes, crooked exchanges, drug sales, thefts, tax evasion and all other types of illicit activities. Just. A. Fucking. Thought.
This whole narrative you guys have created where "people hated the Internet too!" is retarded and fictional.
>>990441
>I was born in the 70s
stopped reading there I was born in the 70s
>>990525
Makes sense. If you don't read it then you never have to hear any differing opinion than yours. You might want to try Bitcointalk, I'm sure they are more inclined to feed you what you want to hear.
>>990535
Don't bother with them, bro. You absolutely wrecked him, and his 7 proxy ips, in a way I haven't seen yet in a bitcoin thread, and I've seen them get wrecked pretty hard hundreds of times.
Fuck them and anyone stupid enough to swallow their shit.
>>990540
Thanks for the nod. I usually don't get involved with these threads because frankly, I have better things to do with my time than to debunk bad information. But every once in a while... somebody has to say something. You know what I mean?
well fuck you m9, my dad works at nintendo
>dinosaurs try to be relevant
enjoy missing the next bubble friends
>>990615
Gulden seems very progressive far more development and momentum compared to Bitcoin. Strange times
>>989724
Would be happy to elaborate on the millions of dollars flowing directly into Bitcoin, blockchain startups, and fin tech every week plus the surge in adoption if you would like ...
>>989743
Have you ever tried to make an international bank transfer before? It takes multiple days but with Bitcoin it takes just 10 minutes. This might not seem like much to you but it feels amazing to have your money so fast when you're doing international business. I live and breath Bitcoin and get paid in this way so I can honestly say that its improved my life. Plus: I don't have to ask anyone for permission to open an account (which is crazy.) I have full control of everything.
Also quite subtle: but just the address design alone with Bitcoin allows for possibilities that weren't previously possible. Let me give you an example. Satoshi Dice is a gambling website that generates a Bitcoin address to send coins to while providing you with a simple gambling interface. The site requires no credit cards, no sign ups, no identification to use. You just up open your browser to the site and the Bitcoin address quite literally is the account. To gamble on there: just send money to the address and it shows up after N confirmations.
With blockchain-based Fintech, it vastly improves user experience.
>>990540
>being this noided
Retard here how do you invest into bit coins ? The buying and selling of it
>>991479
This guy is a shill, but he's correct though
>>991516
Why ask this here when you can get a much better answer from Google?
Get a free Bitcoin wallet and open an account with one of the main exchanges and wire them funds to credit your account
What is the most efficient way to 'cash out' bitcoins to USD? I'm not planning on give BTC up altogether but stock money seems a little bit more important right now.
>>989723
To buy Bitcoin safely you first go to a mall location when it's the most busiest, then you open up your Ass hole and rip a shit and say *breakfast club Sunday morning surprise*
>>989723
Also silver stackers get ready for a price jump
>>991530
Sell them on localbitcoins for cash
>>990397
Interesting to think about, normies definitely agreed with lettermans thought process even if he was trolling. Its hard to convince people of something new. If I went back in time I don't think I would be able to convince plebs either.
I have used buttcoin to donate to wikipedia and to buy VPN subscriptions.
It was pretty damm easy from my smartphone
>>991636
Someone ban this fucking retard and all his VPNs.
Repeat with me: It's Bitcoin, there is no Bitcoin 2.0. It's Bitcoin, Bitcoin, Bitcoin. Get on it or kill yourself.
>>989797
.... Doesn't that describe scrap metal in Team Fortress 2?
>>990441
/biz copypasta ??
>>991803
Bitcoin is dying Gulden is taking over see the details.
>>991960
>the details
you mean that it's now 59th ?
http://coinmarketcap.com/
WOAH. it's over 0.0076 percent of bitcoin's marketcap now! bitcoin is finished!
>>991986
Altavista best thing ever right was better and ealier than Goodle?
MySpace best thing ever righ was better and earlier than Facebook?
You keep on going with a 1900 locomotiv I will take a Bullet train on electricity.
>Do you even progress?
>>991998
your english still sounds like it's from some shitty anime dub.
If you're going to shill at least pick up on the game
>>991450
Yea just like bitshares, 2.0 is coming out!!!
LAUNCHING IN 5...4...3...2...1.. DUMP
Now bitshares
>>991998
You have it wrong you tard, it's not comparing myspace to facebook, it's comparing banks to bitcoin, a lot of infrastructure is built around bitcoin already, stop shilling.
>>990429
>still buying on the blockchain meme
Even VISA is starting to catch up with the fact everything that isn't the Bitcoin Blockchain is trash.
http://coinjournal.net/visa-europe-collab-epiphyte-blockchain-interview/
You have no fucking clue about any of this, also you were wearing a Donald duck t-shirt when AOL was around, stop trying to sound old. Freeman was a pleb, so was 99% pleb of the population back then, so was 100% of the public on there.
>>990441
The internet was around for fucking ages in cvar form before anyone that wasn't a heavy geek could make any sense out of it. Jesus christ get your fantastic Fortune 500 ass out of here.
>>993297
Visa europe collab.
Hmmm theyre clients of mine. Spooky. Ive been chatting to them and they told me they are investigating ethereum
Bump
>>989723
aaaaaaaaaaaaaaaannnnnnddddd were going up again.
Get quick rich scheme nothing els, don't buy into it, you will only support the kikes that hold lots of bitcoins.
The 1% is already there, so there is no difference from todays money other than the hype.
People defending bitcoins are the once holding lots of them and don't give a fuck about you, they only need it to rise so they can sell high and laugh at you for buying into it.
>Inb4 kikes throwing stupid graphs and non sense at me.
>>993934
Also, if you're mentally ill or unstable person leave this site, it will only ruin you.
>>993934
>don't buy anything ever
Are you legit retarded?
>>989723
It's a decentralized cryptocurrency. You can exchange them for "real" money or goods/services if they're accepted. Changing hands is a lot faster than cash which is why Goldman is looking to develop their own cryptocurrency so there won't be a 3 day transfer period or whatever anymore
>>993297
Stop pretending you know what blockchain means
>>993968
>been in Bitcoin since 2009
>don't know what a blockchain is
>Jon Downing of Visa Europe Collab and Edan Yago of Epiphyte said that while they are interested in other systems, Bitcoin will likely play a role in the future and other blockchains have to be considered “at this point vapourware.” Seemingly a departure from the tone of other institutions that preferred to hype their own blockchain technologies over Bitcoin itself.
Time to stop the cope and hop on Bitcoin.
>>991462
Define bubble
>>994116
If you actually speak to the people at visa collab they are far more interested in ethereum. I was in their office last week
>>994124
Well Everybody knows Gulden is the future of Crypto
>>989755
What will actually happen is that other businesses will accept it and yours will be outcompeted by the ones willing to adapt to new technologies.
>>994507
He is right and Gulden is taking over.
>>994327
No one seriously thinks that gulden does anything
>>996763
Same thing for Bitcoin 4 years ago.
You feel sorry you did not take the time to investigate.
Gulden is now and how Google is boss and where Altavista Bitcoin?
Same story be there or be squarebit!
>investigate because Gulden takeover
>>989723
Read the Wiki on it. Sounds like one big sham. Those newer ones aren't any better. Gulden isn't even found on Google, lol.
>>997862
Shouldn't have to add the dot com if they're such a great company.
>tfw remeber bitcoin starting, being posted on /b/ for under $2 each, thinking should I invest? Nah I don't trust online transactions
>>997980
>tfw remeber ethereum starting, being posted on /biz/ under $1 each, thinking should I invest? Nah I don't trust online transactions
>>997980
Same with Gulden.
People think nah and suddenly everywhere adoption and used as worldcurrency.
People say WOW why I am so dumb in that time?
>>997984
Ethereum’s genesis block alone creates 72 million coins, over five times the current supply of bitcoin. New coins are mined at a rate of 300,000 Ethers a day. At a 20% inflation rate for the year and decreasing slowly, Ethereum’s inflation rate still doesn’t meet the U.S. targeted 2% inflation rate until the year 2055.
Ethereum is not primarily intended to be a store of value. It’s meant to be used and exchanged frequently as ‘cryptofuel’. As is true for most software, the developers of the Ethereum team are at liberty to change the protocol at any given time. On the team’s blog Buterin states that there is a potential for Ethereum to eventually switch to an alternative mining system.
>Want to see you money loose value go for Ethereum.
Best choice is still Gulden.
>>997991
For someone who claims not to be interested you seem to be all over ethereum like flies on shit.
My crystal ball tells me ethereum is moon and gulden is doomed
http://youtu.be/-QIt3mKLIYU
Vitalik buterin addresses the scalability issue.
>>997999
Seems to make sense right?
Before investing you do some research, well I do.
That is why I know so much about Ethereum, I even was invited and went to a presentation of Vitalik.
Ethereum has very nice potential just like the Internet.
Where can I invest in Internet?
Can I have 10.000 stocks of internet plox?
You see?
Ether the currency used on the platform is not meant for speculation but as an fuel.
>Wow you really don't know shit about Ethereum!
Doesn't change the fact Gulden is still the most supreme investment.
>>998144
Fuel, currency. These things are merely semantics.
If ethereum grows to the same market cap as bitcoin which it could very easily 1 ether will be worth $100
Ether is currently $0.99 and its the only crypto with any potential.
>>998148
For fucks sake dude
>Read the whitepaper on Ethereum!
It's made to decrease in value overtime hence the transition to POS in the last phase.
Only a moron would invest in Ethereum for profit.
Do you even read up or investigate before investing?
>Investigate Gulden and Ethereum and I guaranty you that you will choose Gulden.
>>998290
>It's made to decrease in value overtime hence the transition to POS in the last phase.
Uh, what? Why would anyone buy Ether if they thought it'd decrease in value over time? I quickly read through the white paper, so maybe I missed something.
>Note that in the future, it is likely that Ethereum will switch to a proof-of-stake model for security, reducing the issuance requirement to somewhere between zero and 0.05X per year
Reducing issuance would make Ether more valuable? Please cite what you're talking about.
Also, how the heck would ANYONE know what the value of processing on the network would be in the future? You're basically paying for a slice of computational power on the network. The network could become enormous and a 1% stake in Ethereum could be worth millions of dollars if enough compute power is thrown at the network.
>>998290
OH FUCK
>Investigate Gulden and Ethereum and I guaranty you that you will choose Gulden.
I missed that. FUCK YOU RETARD. GET THE FUCK OFF THIS BOARD YOU SHILLING PIECE OF SHIT
>>998336
Hes not seriously promoting gulden. Hes just spamming the forum with the gulden thing because he hates crypto for some retarded reasons known only to himself.
>>998356
oh. I just assumed all the knock off forked coin promoters were scammers and not trolls
he's trying pretty hard. he has to have posted hundreds of times in the last week with the same shitty grammar
>>998367
Just some rectum-rustled fagchild nocoins retard.
Over 200000 daily transactions.
5.91▴
Since 24 hours ago
What the fuck is happening?
>>998356
Yes very serious!!!
Bitcoin? Where?
Ethereum? Where?
All gone!!!
Amazing!!!
>Gulden
>>998484
Shut up faggot
>>998484
Please keep going!
Now those coinerfags know what their bitcoin shill shit feels like!
>Hooooray Gulden BOOOO Bitcoin
