holy fuck bitcoin 375 dollar

latest iteration of the bitcoin bubble.

it will crash, then everyone will talk about how horrible it is, like last time.

and the time before that....

and the time before that.



then people will begin investing in it, the price will rise, and the cycle will repeat once more.
 
The problem with Bitcoin is it's like Forex. People with large amounts of money can cycle it up and down and basically print money. The difference is Bitcoin has such a small market that it's even easier to manipulate.

Honestly I'm just jelly I don't have the funds to abuse it. :-|
 
Bughead said:
The problem with Bitcoin is it's like Forex. People with large amounts of money can cycle it up and down and basically print money. The difference is Bitcoin has such a small market that it's even easier to manipulate.

Honestly I'm just jelly I don't have the funds to abuse it. :-|
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you mean its like the FED....lolololololol
 
I get so much play telling women I'm independently wealthy from bitcoin trade
 
hope it crashes. sold all the litecoins I mined a while ago, waiting for a bitcoin crash that hasn't happened. I'd like to just put it into bitcoins and forget about it for a while so I can be a millionaire in a couple years.
 
"Cornell researchers unveiled an attack on the Bitcoin mining protocol that enables selfish mining pools to earn more than their fair share. In a technical report the authors explain this attack can be performed by a pool of any size. Rational miners will join this pool to increase their benefits, creating a snowball effect that may end up with a pool commanding a majority of the system's mining power. Such a pool would be able to single-handedly control the blockchain, violating the decentralized nature of the increasingly successful Bitcoin. The authors propose a patch to the protocol that would protect the system from selfish mining pools smaller than 25% of the system. They also show that Bitcoin can never be safe from selfish mining pools larger than 33% of the network, whereas it was previously believed that only groups larger than 50% of the network were a threat to the system. The question is — can the miners operating today adopt the suggested fix and dismantle too-large pools before a selfish mining pool arises?"
 
Ugh, really need it to crash again so I can reinvest. I sold my BTC the other night after it dropped from $350 to $285, and now it's back up again :(
 
Talk about Ponzi schemes. One kid bought a house with his earnings. And the only reason why, is because he bought a bunch of shares when it was starting and forgot about them. Then comes back a few years later and goes, gee, I've got X amount of bitcoins that are worth thousands now. Otherwise it's just a scam.

Bitcoins are tied to nothing, made up out of thin air.
 
NoGodForMe said:
Talk about Ponzi schemes. One kid bought a house with his earnings. And the only reason why, is because he bought a bunch of shares when it was starting and forgot about them. Then comes back a few years later and goes, gee, I've got X amount of bitcoins that are worth thousands now. Otherwise it's just a scam.

Bitcoins are tied to nothing, made up out of thin air.
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you know that's bullshit, right?

money is worthless because it's no longer directly tied to man-hours (labour), bitcoins are tied directly to compute-power (and power power to power the computer) and derive their initial value from that, although the rest is value-speculation and added-value from the fact that they're (supposedly) anonymous
 
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