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pwnasaurus
Stranger



Registered: 07/16/08
Posts: 12,317
Loc: Canada
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Quote:
KingKnowledge said:
Quote:
pwnasaurus said: Someone with moderate intelligence can research BTC just as easily as any other topic.
Tell that to an elderly man or woman who isn't as tech-savy as you. This BTC shit looks like Sanskrit to some people who aren't as familiar to computers as we are.
Elderly people are generally making risky investments in anything, so that demographic isn't really relevant IMO. When you aren't working any more you cannot afford to make risky investments.
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KingKnowledge
Around



Registered: 03/30/13
Posts: 2,876
Loc: East Coast
Last seen: 4 years, 6 months
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Re: Should I invest in bitcoins? [Re: pwnasaurus]
#19202441 - 11/28/13 08:11 PM (10 years, 2 months ago) |
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Quote:
pwnasaurus said:
Quote:
KingKnowledge said:
Quote:
pwnasaurus said: Someone with moderate intelligence can research BTC just as easily as any other topic.
Tell that to an elderly man or woman who isn't as tech-savy as you. This BTC shit looks like Sanskrit to some people who aren't as familiar to computers as we are.
Elderly people are generally making risky investments in anything, so that demographic isn't really relevant IMO. When you aren't working any more you cannot afford to make risky investments.
You can't just rule out full demographics based on an assumption that old people don't take risks....a lot of retired folk want to expand their fortunes to pass on to future generations.

This argument isn't really getting anywhere. I don't even know why I'm arguing, so I'm done. I just want to say that BTC is trickier than it seems, and I think we'll all see this soon.
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ModestMouse
IM WALKIN ON SUNSHINE


Registered: 05/06/13
Posts: 19,227
Loc: Upstate
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I change my answer to yes. Yes you should invest.
-------------------- Anyone got a lowpass filter in this biiiiash?
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pwnasaurus
Stranger



Registered: 07/16/08
Posts: 12,317
Loc: Canada
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Quote:
KingKnowledge said: This argument isn't really getting anywhere. I don't even know why I'm arguing, so I'm done. I just want to say that BTC is trickier than it seems, and I think we'll all see this soon.
It depends on what you mean by tricky. The protocol itself and the number of bitcoins in circulation, as well as the mining rate, are trivial to determine. That is what you were arguing against.
Of course determining the "value" of bitcoins and the avenue to lower volatility is a tricky prospect since there are no fundamentals involved.
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ModestMouse
IM WALKIN ON SUNSHINE


Registered: 05/06/13
Posts: 19,227
Loc: Upstate
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Re: Should I invest in bitcoins? [Re: pwnasaurus]
#19202483 - 11/28/13 08:27 PM (10 years, 2 months ago) |
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Yes, BTC is at best completely worthless and at worst broken (not yet proven but I believe it will be cracked).
That's not to say there isn't money to be made here. For a short while.
-------------------- Anyone got a lowpass filter in this biiiiash?
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pwnasaurus
Stranger



Registered: 07/16/08
Posts: 12,317
Loc: Canada
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Re: Should I invest in bitcoins? [Re: ModestMouse]
#19202598 - 11/28/13 09:05 PM (10 years, 2 months ago) |
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Quote:
ModestMouse said: Yes, BTC is at best completely worthless and at worst broken (not yet proven but I believe it will be cracked).
That's not to say there isn't money to be made here. For a short while.
I don't think that's necessarily true at all. What makes you say that? If the value stabilizes and becomes widely-accepted (imagine bumping your smartphones together to transfer funds - easier than cash with almost no fees) there's no reason why it cannot partially replace fiat currencies.
Of course it IS entirely possible that it completely busts, but if that happens don't think for a second that BTC is the last decentralized crypto-currency we will see.
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s240779

Registered: 12/07/10
Posts: 12,880
Last seen: 2 months, 9 days
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Re: Should I invest in bitcoins? [Re: VapoRs]
#19202888 - 11/28/13 10:23 PM (10 years, 2 months ago) |
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If I were you, I'd invest in litecoin. It went from ~12 to 50 dollars in a day and presumably it will continue to go up just like bitcoin. These guys think so (and they made this video back when it was trading at like 3 dollars).
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Joban

Registered: 06/09/13
Posts: 145
Last seen: 9 months, 24 days
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Re: Should I invest in bitcoins? [Re: s240779]
#19202919 - 11/28/13 10:32 PM (10 years, 2 months ago) |
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Wow. The price has increased significantly since the last post.
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Shroomism
Space Travellin



Registered: 02/13/00
Posts: 66,015
Loc: 9th Dimension
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Re: Should I invest in bitcoins? [Re: VapoRs]
#19202920 - 11/28/13 10:32 PM (10 years, 2 months ago) |
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I don't think right now is a good time to buy them, OP.. they just skyrocketed. They will likely continue to bubble. Rise and fall and rise again. Buy when they most likely drop again.
I'm just super pissed at myself that I sold my 20 bitcoins back when they were only worth like $5 each.
But probably not kicking myself as hard as THIS GUY
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millzy


Registered: 05/12/10
Posts: 12,404
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Re: Should I invest in bitcoins? [Re: Shroomism] 2
#19203073 - 11/28/13 11:17 PM (10 years, 2 months ago) |
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everyone knows that beanie babies are the future.
-------------------- I'm up to my ears in unwritten words. - J.D. Salinger
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4runner


Registered: 07/16/10
Posts: 15,406
Loc: State of Jefferson
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Re: Should I invest in bitcoins? [Re: Shroomism]
#19203098 - 11/28/13 11:28 PM (10 years, 2 months ago) |
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Quote:
Shroomism said: But probably not kicking myself as hard as THIS GUY
Oh man I was reading about that earlier. Could you imagine, there was 4 million bucks, even worse, 4 million pounds just sitting out there in the trash heap, that you yourself threw out. I sit here and think man, if I bought those coins when they dropped after the silk road thing... I could have made a few hundred bucks. Then there are these people that had a crap load of bitcoins when they where worth absolutely nothing and just lost, forgot or just didn't care about them.
I could have been a millionaire. I would never have to work again.
If only I kept that wallet.
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Shroomism
Space Travellin



Registered: 02/13/00
Posts: 66,015
Loc: 9th Dimension
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Re: Should I invest in bitcoins? [Re: 4runner]
#19203206 - 11/29/13 12:17 AM (10 years, 2 months ago) |
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It's actually 7.5 million in USD. Ouch.
I sold my bitcoins for like $100 a few years ago. I didn't think to get more.. they'd now be worth about 20k
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Par

Registered: 09/05/10
Posts: 811
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Re: Should I invest in bitcoins? [Re: Shroomism]
#19203238 - 11/29/13 12:37 AM (10 years, 2 months ago) |
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eh it's only money. get over it.
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Shroomism
Space Travellin



Registered: 02/13/00
Posts: 66,015
Loc: 9th Dimension
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Re: Should I invest in bitcoins? [Re: Par]
#19203251 - 11/29/13 12:43 AM (10 years, 2 months ago) |
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Money I could really use right about now. I am over it though.
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teknix
πβπ
’ππ
π°π‘ πΌπ⨻



Registered: 09/16/08
Posts: 11,953
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Re: Should I invest in bitcoins? [Re: Shroomism]
#19203263 - 11/29/13 12:48 AM (10 years, 2 months ago) |
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I don't really get bitcoin mining. You are payed coins for solving algorithms with your GPU, but where do those coins that you are getting paid come from? Can't someone just create a bunch of bitcoins? Who is making the bitcoins? Where are the algorithms that need to be solved coming from?
Edited by teknix (11/29/13 01:00 AM)
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ManianFH
living in perverty


Registered: 07/06/04
Posts: 14,741
Last seen: 8 minutes, 45 seconds
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Re: Should I invest in bitcoins? [Re: teknix]
#19203393 - 11/29/13 01:52 AM (10 years, 2 months ago) |
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I puchased a bitcoin recently, and will get a few more in the coming weeks. I plan to invest in the top 5 currencies, then lock my addresses away for a few years. If it goes nowhere i am out a few thousand bucks. if it goes somewhere it will probably be somewhere of great value. risk a few thousand to potentially make ~100 thousand? sure.
The technology could become mainstream, and if it does get to the point where people are bumping phones and swiping cards for coin transactions, then any age group will be able to use it, and likely will if the costs are lower than current transaction standards. Its only now gaining national attention and people are having a hard time finding an easily accessible exchange. The price will continue to trend upwards once more people are given access to purchase them. China is going crazy over the things and thats good for investors, as long as Chinas govt continues to look the other way or even endorse the currency.
This is not to say the powerful holders wont unload their positions once the price is right, make their killing and leave the market in at least temporary disarray.
-------------------- notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... " ChrisWho said: "It's all about the journey, not the destination."
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Middleman

Registered: 07/11/99
Posts: 8,399
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Re: Should I invest in bitcoins? [Re: Shroomism]
#19203605 - 11/29/13 04:44 AM (10 years, 2 months ago) |
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Almost got into mining when I saw the first posts here years ago. I decided that getting high and playing guitar was a better use of time.
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s240779

Registered: 12/07/10
Posts: 12,880
Last seen: 2 months, 9 days
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Re: Should I invest in bitcoins? [Re: teknix]
#19203738 - 11/29/13 06:30 AM (10 years, 2 months ago) |
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Quote:
teknix said: I don't really get bitcoin mining. You are payed coins for solving algorithms with your GPU, but where do those coins that you are getting paid come from? Can't someone just create a bunch of bitcoins? Who is making the bitcoins? Where are the algorithms that need to be solved coming from?
I guess the algorithms are multifunctional. Serving the system as a whole and generating new bitcoins.
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DieCommie

Registered: 12/11/03
Posts: 29,258
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Re: Should I invest in bitcoins? [Re: teknix]
#19204492 - 11/29/13 11:20 AM (10 years, 2 months ago) |
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.
Edited by DieCommie (11/16/16 10:26 PM)
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pwnasaurus
Stranger



Registered: 07/16/08
Posts: 12,317
Loc: Canada
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Re: Should I invest in bitcoins? [Re: DieCommie]
#19204510 - 11/29/13 11:24 AM (10 years, 2 months ago) |
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I just bought a 7970 to start mining LTC with. Hopefully they keep going up!
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