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  1. #241
    Registered User Kev1972's Avatar
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    Originally Posted by phillyfreak7 View Post
    lmfao despite one year out of seven, it has consistently multiplied over its all time high in value many times over

    Bitcoin could easily end up at $500k a coin.

    For the guy that says the average investor lost money... If at any point in crypto's history, if you bought before this past December, you are up.

    I bought back in 2013 and held. It would be next to impossible for me to lose money at this point
    If you had it when it was 20k and still have it now you just lost a chit ton of money. Like 75% of it.
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  2. #242
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    Originally Posted by phillyfreak7 View Post
    lmfao despite one year out of seven, it has consistently multiplied over its all time high in value many times over

    Bitcoin could easily end up at $500k a coin.

    For the guy that says the average investor lost money... If at any point in crypto's history, if you bought before this past December, you are up.

    I bought back in 2013 and held. It would be next to impossible for me to lose money at this point
    I dont know why you would like about something so stupid as this.

    https://forum.bodybuilding.com/showt...post1506579491

    I own 6 Ethereum and 2 Bitcoin right now and bought them all about 6-7 weeks ago. I'm excited and plan to buy much more.
    Post date: May 30, 2017

    I've also seen you Larping in the CC about buying ETH at $5 as well. I don't get it.

    I mean you still did really really well if you were to sell today, rough math shows that you're up ~6x on BTC and ~9x on eth, but I don't understand why you'd lie about holding since 2013.
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  3. #243
    Registered User KhumatMibra's Avatar
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    Originally Posted by phillyfreak7 View Post
    lmfao despite one year out of seven, it has consistently multiplied over its all time high in value many times over

    Bitcoin could easily end up at $500k a coin.

    For the guy that says the average investor lost money... If at any point in crypto's history, if you bought before this past December, you are up.

    I bought back in 2013 and held. It would be next to impossible for me to lose money at this point
    Originally Posted by Frank Drebin View Post
    I dont know why you would like about something so stupid as this.

    https://forum.bodybuilding.com/showt...post1506579491



    Post date: May 30, 2017

    I've also seen you Larping in the CC about buying ETH at $5 as well. I don't get it.

    I mean you still did really really well if you were to sell today, rough math shows that you're up ~6x on BTC and ~9x on eth, but I don't understand why you'd lie about holding since 2013.


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  4. #244
    too old for this chit HessyB1's Avatar
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    Originally Posted by Frank Drebin View Post
    I dont know why you would like about something so stupid as this.

    https://forum.bodybuilding.com/showt...post1506579491



    Post date: May 30, 2017

    I've also seen you Larping in the CC about buying ETH at $5 as well. I don't get it.

    I mean you still did really really well if you were to sell today, rough math shows that you're up ~6x on BTC and ~9x on eth, but I don't understand why you'd lie about holding since 2013.
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  5. #245
    Registered User phillyfreak7's Avatar
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    I bought most of my crypto in March/April 2017 which is probably why I said all. I also bought some Bitcoin December 2013 and received Ethereum for the first time from a client I train in March as payment because he knew about it.

    Never once did I say I got Ethereum at $5. I got my first one at $40 I think
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  6. #246
    Registered User Evlve's Avatar
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    Originally Posted by Kev1972 View Post
    Why the fuk would the average person need crypto over visa or mastercard?

    The average person isn't laundering drug money or selling drugs or human trafficking.

    People like crypto for all the wrong reasons. If you can't see why governments aren't going to allow it to take over as a real currency I don't know what to tell you.

    Crypto is a giant ponzi scheme with very limited real life application. And that limited application is almost 100 percent illegal in most countries.
    Fair point - no cryptocurrency at the moment is competing with VISA. A few people are using it because they like the decentralized aspect so much but they are few and far between. The transaction speed, volatility, and ability to use it daily is not anywhere near the credit capability today.

    That being said the currency aspect is really the tip of the iceberg on what the tech allows. It may eventually get to a competitive point but in the meantime there are other uses for it that are being worked on in the background that people aren’t aware of. Everyone’s locked in to an idea that it’s money...it’s not.. it’s way more useful
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  7. #247
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    Originally Posted by Evlve View Post
    Fair point - no cryptocurrency at the moment is competing with VISA. A few people are using it because they like the decentralized aspect so much but they are few and far between. The transaction speed, volatility, and ability to use it daily is not anywhere near the credit capability today.

    That being said the currency aspect is really the tip of the iceberg on what the tech allows. It may eventually get to a competitive point but in the meantime there are other uses for it that are being worked on in the background that people aren’t aware of. Everyone’s locked in to an idea that it’s money...it’s not.. it’s way more useful
    Enlighten us, and please don't say tracking baby food on the blockchain.

    What is so useful about it?
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  8. #248
    Registered User lordpatrick's Avatar
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    Originally Posted by Frank Drebin View Post
    Enlighten us, and please don't say tracking baby food on the blockchain.

    What is so useful about it?
    I will as an engineer. Here are a few benefits of the blockchain technology :

    - Blockchain allows safer databases. If it's decentralized, it can't be hacked. You can successfully hack one network node, 2 , maybe a hundred, but you'll never succeed in hacking everything.
    - Blockchain is already rivaling VISA's transaction speeds. Check HPB, they're doing 40000 TS, Plasma will be, theoretically doing 1 million transaction per second.

    That being said, decentralizing everything is not the solution, but in some cases it can be very useful, mostly in the financial system, because blockchains are transparent, easy to track, irreversible without centralizing (no manipulation is possible). The only downside is the volatility, and the immaturity of the technology.

    -
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  9. #249
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    Originally Posted by lordpatrick View Post
    I will as an engineer. Here are a few benefits of the blockchain technology :

    - Blockchain allows safer databases. If it's decentralized, it can't be hacked. You can successfully hack one network node, 2 , maybe a hundred, but you'll never succeed in hacking everything.
    - Blockchain is already rivaling VISA's transaction speeds. Check HPB, they're doing 40000 TS, Plasma will be, theoretically doing 1 million transaction per second.

    That being said, decentralizing everything is not the solution, but in some cases it can be very useful, mostly in the financial system, because blockchains are transparent, easy to track, irreversible without centralizing (no manipulation is possible). The only downside is the volatility, and the immaturity of the technology.

    -
    So for the first point, even if true, wouldn't benefit any current token holders. Whichever entity wanted to protect their database would just use their own blockchain, no?
    For the second point, we already have fiat/VISA. So what problem does it solve exactly?
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  10. #250
    Registered User lordpatrick's Avatar
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    Originally Posted by Frank Drebin View Post
    So for the first point, even if true, wouldn't benefit any current token holders. Whichever entity wanted to protect their database would just use their own blockchain, no?
    For the second point, we already have fiat/VISA. So what problem does it solve exactly?
    - I never mentioned anything about token holders. Token holders only get benefits in systems that are made to benefit them. For example, Proof of Stake token holders, earn money from staking their coins and acting as nodes for transactions. Transactions costs are given to the token holders making the transaction. From a blockchain point of view, you can get rid of this system, and blockchain would technically still be a blockchain if you use 2 computers. However, to decentralize the network, you need a lot of people and a consensus. To give motivation for people to run the network, you give them transaction cost rewards, because if you don't have token holders, you don't have decentralization and the blockchain fails. ( for the hacking security part )

    - You are absolutely right. However, there are many flaws in the current financial system that cryptocurrencies, if they work properly, could fix:

    1) It takes some time to transfer funds : 2-3 business days.
    2) What do people with no bank accounts do. The SEA region has over 300 million people without banks. How can they use VISA ?
    3) Some people don't trust financial institutions and believe they are profiting over average joe's, and manipulating the markets. How do you give confidence back to these people? Decentralization.
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  11. #251
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    Originally Posted by lordpatrick View Post
    - I never mentioned anything about token holders. Token holders only get benefits in systems that are made to benefit them. For example, Proof of Stake token holders, earn money from staking their coins and acting as nodes for transactions. Transactions costs are given to the token holders making the transaction. From a blockchain point of view, you can get rid of this system, and blockchain would technically still be a blockchain if you use 2 computers. However, to decentralize the network, you need a lot of people and a consensus. To give motivation for people to run the network, you give them transaction cost rewards, because if you don't have token holders, you don't have decentralization and the blockchain fails. ( for the hacking security part )

    - You are absolutely right. However, there are many flaws in the current financial system that cryptocurrencies, if they work properly, could fix:

    1) It takes some time to transfer funds : 2-3 business days.
    2) What do people with no bank accounts do. The SEA region has over 300 million people without banks. How can they use VISA ?
    3) Some people don't trust financial institutions and believe they are profiting over average joe's, and manipulating the markets. How do you give confidence back to these people? Decentralization.
    I've maintained the opinion that there could be one crypto currency to rule them all - and that would be a digital version of an existing currency. Lets say a legitimate pseudo-anonymous version of Tether. It would actually be better than cash for the US government, it would be traceable for investigations, able to be siezed, etc. This would also take care of the unbanked. Maybe even a trusted third party could digitize cash or gold for the unbanked. Just like tether - except legal/legitimate.

    Point 3 - I concede there will always be a demographic that has an inherent distrust of the government - and for those people crypto may be the lesser of 2 evils.
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  12. #252
    Registered User Deezenutz's Avatar
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    Originally Posted by Kev1972 View Post
    Why the fuk would the average person need crypto over visa or mastercard?

    The average person isn't laundering drug money or selling drugs or human trafficking.

    People like crypto for all the wrong reasons. If you can't see why governments aren't going to allow it to take over as a real currency I don't know what to tell you.

    Crypto is a giant ponzi scheme with very limited real life application. And that limited application is almost 100 percent illegal in most countries.
    Wow, people are still going with this? lmao

    Because fiat is never used for illegal purposes...right?
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  13. #253
    Registered User Dota2Brah's Avatar
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    it's going to be a giant bear market until coins start forming real-world partnerships with clear use cases + the general public completely understands blockchain + how to buy/sell altcoins
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  14. #254
    Registered User phillyfreak7's Avatar
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    bump

    Really curious to hear what the tards have to say on Bitcoin right now. We in a bubble again? Should you sell everything? Moon? Let's hear what normie sentiment who don't even know what the Byzantine General's problem is thinks.
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  15. #255
    Forever aBOARD guest89's Avatar
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    Originally Posted by phillyfreak7 View Post
    bump

    Really curious to hear what the tards have to say on Bitcoin right now. We in a bubble again? Should you sell everything? Moon? Let's hear what normie sentiment who don't even know what the Byzantine General's problem is thinks.
    I think Bitcoin is highly volatile and is just as likely to crash again as last time. Obviously a great buy if you got in at a good price. But its been pumped lately. I think mainly due to election turmoil and Covid.

    When a bunch of morons start talking about buying something/making money/ about how easy it is. Its a good indicator that a bunch of plebs are buying into something they don't fully understand.




    I'd rather put my money in the market, and I am up 40% this year. But I do watch Bitcoin prices as well out of curiosity.
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  16. #256
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    Originally Posted by guest89 View Post
    I think Bitcoin is highly volatile and is just as likely to crash again as last time. Obviously a great buy if you got in at a good price. But its been pumped lately. I think mainly due to election turmoil and Covid.

    When a bunch of morons start talking about buying something/making money/ about how easy it is. Its a good indicator that a bunch of plebs are buying into something they don't fully understand.




    I'd rather put my money in the market, and I am up 40% this year. But I do watch Bitcoin prices as well out of curiosity.
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  17. #257
    Registered User phillyfreak7's Avatar
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    Originally Posted by guest89 View Post
    I think Bitcoin is highly volatile and is just as likely to crash again as last time. Obviously a great buy if you got in at a good price. But its been pumped lately. I think mainly due to election turmoil and Covid.

    When a bunch of morons start talking about buying something/making money/ about how easy it is. Its a good indicator that a bunch of plebs are buying into something they don't fully understand.




    I'd rather put my money in the market, and I am up 40% this year. But I do watch Bitcoin prices as well out of curiosity.
    Bitcoin is up a lot more than 40%

    "When a bunch of morons start talking about buying something/making money/ about how easy it is. Its a good indicator that a bunch of plebs are buying into something they don't fully understand."

    Morons could have gotten in around 2013, bought on pure hype and would still be up significantly

    It's much more important to ignore all the emotion and to properly evaluate Bitcoin on its fundamentals

    https://www.youtube.com/watch?v=6RuQhsNAYh8&t=104s

    https://www.youtube.com/watch?v=ONvg9SbauMg&t=1774s

    Watch these two videos. The first one is a billionaire rocket scientist, who got rich from the .com bubble, bought up all the internet domains before everyone, got rich on tech stocks like Apple and Google, and owns all the longest running tech company on the stock market. He basically put everything he and his company had into Bitcoin.

    The 2nd is from Andreas who has an extreme understanding of Bitcoin from a technical and world point of view

    Watching these two videos could change your life and perspective on this. You bring up how morons are buying. What about when the smartest and some of the richest people in the world decide to go all in? Still stupid? Microstrategy, Michael Saylor's company, just bought another 50 million dollars of BTC at an average price of $19,400, which is probably what you would consider the opposite of a good price.
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  18. #258
    Great Account YoungMetro24's Avatar
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    bump.
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  19. #259
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    goddamn you retards just never learn
    "What has destroyed every previous civilization has been the tendency to the unequal distribution of wealth and power" - Henry George

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  20. #260
    Registered User FFailed's Avatar
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    I wonder how many cycles we go through of people bragging when it goes up and then people saying I told you so when it goes down.

    Whatever happened to that one guy that was constantly buying btc and had like 80-90 I think back when it was on its way to 20k? Darfeezy or something was his name
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  21. #261
    Registered User CTSV648HP's Avatar
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    Buddy of mine had 1000 BTC back in the day, sold around $50 and bought a nice car
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  22. #262
    Registered User TheGattingBall's Avatar
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    Jokes on you Mr Bumpman bitcoin just dipped from $34k to $30k, omg rekt when will you learn it’s an obvious scam?

    (Ignoring the 4x gain since OP posted)
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  23. #263
    < 1k Posts/Year Crew StevieSparkZ's Avatar
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    Originally Posted by FFailed View Post
    I wonder how many cycles we go through of people bragging when it goes up and then people saying I told you so when it goes down.

    Whatever happened to that one guy that was constantly buying btc and had like 80-90 I think back when it was on its way to 20k? Darfeezy or something was his name
    He posted a screenshot and had 200+ BTCs.

    His USD balance was like 2.5 million and then he said something along the lines of, "It's true, the first million is the hardest."
    A small loan of 1 bitcoin........


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  24. #264
    Registered User Blasthomp's Avatar
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    Hey guys.

    Whats the best platform for me to use to buy some crypto currency. I already have an etoro account with a few thousand in but wanted another one.

    I will be putting £100 per week in and investing for long term profits over the space of a few years.
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  25. #265
    Registered User ooph's Avatar
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    FKN LMAO

    LMFAO

    Please someone @ all the fkn retards in the first 9 pages.
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  26. #266
    Registered User entropy91's Avatar
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    Originally Posted by ooph View Post
    FKN LMAO

    LMFAO

    Please someone @ all the fkn retards in the first 9 pages.
    They've all prob bought rope by now.
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  27. #267
    Registered User isingmodel's Avatar
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    Originally Posted by entropy91 View Post
    They've all prob bought rope by now.
    they can't afford any
    "What has destroyed every previous civilization has been the tendency to the unequal distribution of wealth and power" - Henry George

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  28. #268
    Registered User cointards1o1's Avatar
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    Originally Posted by lordpatrick View Post
    1) It takes some time to transfer funds : 2-3 business days.
    2) What do people with no bank accounts do. The SEA region has over 300 million people without banks. How can they use VISA ?
    3) Some people don't trust financial institutions and believe they are profiting over average joe's, and manipulating the markets. How do you give confidence back to these people? Decentralization.
    How are they buying/selling bitcoin if they dont have a bank account?
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  29. #269
    Registered User cointards1o1's Avatar
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    Originally Posted by phillyfreak7 View Post
    Watching these two videos could change your life and perspective on this. You bring up how morons are buying. What about when the smartest and some of the richest people in the world decide to go all in? Still stupid? Microstrategy, Michael Saylor's company, just bought another 50 million dollars of BTC at an average price of $19,400, which is probably what you would consider the opposite of a good price.
    Smart people do not go "all in" on investments, as you so eloquently put it.
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  30. #270
    Registered User lordpatrick's Avatar
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    Originally Posted by cointards1o1 View Post
    How are they buying/selling bitcoin if they dont have a bank account?
    OTC deals / localbitcoin/ btc atms etc..
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