Buying & selling daily/daytrading.
Wake Up! buy and hold doesn't work.
In what sense? It is working for me. In a long term bull trend it is a great strategy. Do you know something we don't? It's working fine if you're in this to lose shitloads of money. Your second post on this forum, Dec. 5, 2013, near BTC ATH, aka "near the top": Bears back to caves. I bought on localbitcoins in the UK near the (hopefully) bottom.
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^TL;DR: Another lengthy, detailed post insisting that you're to lazy to learn the facts because you don't care. Protip: Don't post about shit you don't know or care about--you'll have time to play more vidya  |
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My arrogant friend, had you noticed I joined this forum almost three years before you (if that matters)?
... This is not my first, or only, account. If you've actually been around here for three years & didn't just buy that account, your naivete borders on painful--this is Bitcoin, where nothing is as it seems. But hey, probably lucky you hung with Bitcoin for three years without buying in. Judging by your posts, odds are youd'a "invested" your coin into some "Bitcoin security" or left it on an exchange. Congrats on preserving your wealth in fiat. |
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Finally, what is the difference between printing money and printing (mining) Bitcoin? If you're honestly equating mining bitcoin to printing fiat currency then you haven't been paying attention to what bitcoin is. My new friend, I'd like to take this moment to welcome you to the forum. I know exactly what Bitcoin is, and made some money with it while you were watching Youtube vids made by an assortment lunatics & scammers. If printing money doesn't create wealth, then burning fuckloads of electricity to print money BTC sure doesn't either. How can printing* Bitcoin "create wealth"? It doesn't. But it's modeled after mining gold, not printing fiat currency... My new friend, everything that's based on artificial scarcity is "modeled after gold." Like BTCeanie BTCabies. Seriously, spend some time studying--or at least play some vidya--instead of typing in the interwebs. |
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*14% of all bitcoins in existence were "mined" this year.
How else do you propose we distribute a new form of monetary commodity you genius The statement you quoted was a reply to "has any country become prosperous by printing money." I pointed out that Bitcoin has been doing nothing but printing money. While countries back their printed money with their economies and missile-totin' jackbooted thugs, Bitcoin doesn't even have that. In other words: 1. print money 2. hope some fools will use it 3. ? ? ? 4. PROFIT! Hope this helps |
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Those aren't economists, bro. They're colloquially referred to as "Batshit Crazies."
I know, I know. You're more intelligent and better informed than James Rickards, Ellen Brown, Bill Holter, Bix Weir, Martin Armstrong, Porter Stansberry and all the rest. But all the same, it's kind of arrogant to call them crazy. They're crazy tho. The ones not trying to sell you shit, that is: their books, their politics, their coin, their YouTube vids, nothing--doing time for fraud, books/vids to pay fines for fraud--in that order. There's a question that is sometimes asked that seems appropriate: "Has any country ever printed its way to prosperity?" The answer is no. Printing money doesn't create wealth; it just steals it from the poor.
It's a question that makes as much sense as "what color is 2." It's nonsensical, it's ill-formed. If the question is "has any fiat-based country ever become more prosperous," the answer is fuck yeah! Finally, what is the difference between printing money and printing (mining) Bitcoin? How can printing* Bitcoin "create wealth"? Stop listening to loons & learn basic economics, brah. *14% of all bitcoins in existence were "mined" this year. |
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... I advise people to buy now in mass amounts...
First post: ...
I've been investing for just under 6 months & have so far amassed 8.75 BTC, I bought most of my coins when the price was around £350 (GBP)
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No, no one wants your bag. Learn to love it |
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... I beg to differ. ... Begging is a useful skill. Likely to come in handy now that Bitcoin has reintroduced you to poverty |
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... but holding Dollars now seem very risky...
Bro, over the past year the dollar has lost less buying power than BTC has over the past 24hrs. Learn life. Keeping Dollar instead of Bitcoin was a good trade this year but long term I don't think it will. Rich people have their wealth in assets not fiat. You need to look at a much longer time frame then just one year when determining how good of an investment something is/was. Looking at a one year ROI is an arbitrary short time frame. If you were to double that and look at a 2 year ROI you will see that someone who purchased bitcoin this time in 2012 would have grown their money by ~30x while the value of their dollar would have been roughly the same (there was very low inflation over the past 2 years) A year timeframe is far from "arbitrary." 37 days would be arbitrary. 2 years would be arbitrary, A year is a natural. A year is also far from "short" for Bitcoin--Bitcoin's entire history is 5 years, 3 of which were spent in single-digit obscurity. But hey, if Bitcoin is going to be huge in 9009, I think I'll pass on it for the time being. On a more positive note, Bitcoin's been getting some recognition lately. What was it, "The worst investment of 2014"? What the fuck does "natural" even mean? A year is absolutely arbitrary. The market doesn't care about the laws of the universe or how long the orbital period of Earth moving around sun is. It is a standard measure of time used by Earthlings, being "the orbital period of the Earth moving in its orbit around the Sun." When I speak to Earthlings about Bitcoiners, I often suggest that a typical Bitcoiner's financial acumen is that of a five-year-old, instead of "2.5 two_year-old," or "49 37-day-old)." Financial statements are also not typically issued in "2-yearly" or "37-day" statements. Hope this helps |
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... but holding Dollars now seem very risky...
Bro, over the past year the dollar has lost less buying power than BTC has over the past 24hrs. Learn life. Keeping Dollar instead of Bitcoin was a good trade this year but long term I don't think it will. Rich people have their wealth in assets not fiat. You need to look at a much longer time frame then just one year when determining how good of an investment something is/was. Looking at a one year ROI is an arbitrary short time frame. If you were to double that and look at a 2 year ROI you will see that someone who purchased bitcoin this time in 2012 would have grown their money by ~30x while the value of their dollar would have been roughly the same (there was very low inflation over the past 2 years) A year timeframe is far from "arbitrary." 37 days would be arbitrary. 2 years would be arbitrary, A year is a natural. A year is also far from "short" for Bitcoin--Bitcoin's entire history is 5 years, 3 of which were spent in single-digit obscurity. But hey, if Bitcoin is going to be huge in 9009, I think I'll pass on it for the time being. On a more positive note, Bitcoin's been getting some recognition lately. What was it, "The worst investment of 2014"? |
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...But a certain class of people do not like seeing others succeed...
Lol, that class of people sure came to the right place--hasn't been any success here for over a year  |
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... ...violence is impossible because its participants cannot be linked to their true names or physical locations. Not quite...   LOL, you know Wei Dai wrote that like a decade before Bitcoin right? Justus is merely pointing out that the anti-theft elements of cryptographic solutions were contemplated long before it occurred to oakpacific this week. The potential to do what governing that needs to be done with less of a central authority is one of the values crypto has the potential to add. Not sure what you're talking about. Non-sequitur? And Charlie pled out to a Money Transmission violation, not theft anyway.
I'm merely pointing out that "Charlie" got owned--according to justusranvier that's impossible. Go go jackbooted thugs [a bunch of butthurt re moneylaundering laws]
Protip: If you want to break laws, get good. "Charlie" wasn't. He didn't even know how to STFU, and paid  |
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I've heard or read several economists explain why the collapse of the dollar is mathematically unavoidable. ... >economists >mathematically unavoidable Those aren't economists, bro. They're colloquially referred to as "Batshit Crazies." |
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...bitcoin reward schedule fucks it up completely.
... That. Bitcoiners think Satoshi is a magical being who could do no wrong, sorta like Kim Jong-un to North Koreans. He made educated guesses, most good, some not so much. Bitcoin was an experiment, still in beta now. Thanks for bringing some problems to light & furthering knowledge, beta testers, but it's time to move on  @inca: the ~14%/year inflation problem, the one that's tanking the price now. If you wish to use a more common definition of inflation, i.e. price inflation, then the number is way over 100% |
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...Seems like building support to me.
You've been wrong before tho... Bears back to caves. I bought on localbitcoins in the UK near the (hopefully) bottom.
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.@cbeast:
Thought you were pretty foxy, didn't you? Well! The last to go will see the first three go before her! And your mangy little dog, too!
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Big inflation? Are you aware that bitcoin has exponentially reducing inflation? Of course you know that the inflation was twice as 'big' before the last halving?
... Yeah, ~14%/year. With not enough new money coming in, the pyramid crumbles |
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I'm sure you bought near $1k, because permabull  |
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... i am still in profit, so...what the fu*k are you talking about?  if the price will go below 100, then it could be truth, but until then, for me the newbie is trolling as always  Yeah, all of you permabulls are stackin' cheddar lately... Of course being a permabull, you only count your initial buy-in price, not all the coin you eventually bought @1k Anyhow, keep sinking more of your paycheck into this thing, I'm sure you know what you're doin'.  |
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