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941
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Bitcoin / Bitcoin Discussion / Re: I am pretty confident we are the new wealthy elite, gentlemen.
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on: June 27, 2016, 06:32:19 AM
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You're one of the ultra rare lucky ones. Talk to the thousands of people with money in Mt Gox, Bitinstant, ButterflyLabs, Gaw Miners, MyBitcoin, Pirates Ponzi, Bitcoinica, Bitscalper, Inputs.IO, Vicurex, Cryptorush, TradeHill, CryptoXChange, GBL, Just Dice, Bitcoin Rain, The Silk Road Seizure, Sheep Marketplace, BS&T, PicoStocks, Bitfloor, Basic Mining, Mintpal and many, many others.
Why is Just-Dice on that list of ponzis, scams, hacks, and thefts? Just-Dice took care of the over 60,000 BTC entrusted to it and returned it all when it shut down. Ok, you found one that was corrected. The point remains that Bitcoin facilitates loss in a way that no other payment system does and has no insurance or fraud protection covering it. I was one of the lucky ones that made money when you could mine with a gpu at almost no cost other than electricity. From now on, people will need to put their own money in to it and they will only make money if they live long enough to see an enormous increase in the exchange rate. It's a gamble that may pay off but it's high risk. There are many secure investments that pay 10-20% a year. If you start today with $10,000 and average 20% a year for 20 years, you'll have over $380,000. Add $2,000 a year to the pot, and you'll wind up with $756,751 after 20 years. Granted, 20% a year is not super easy to achieve. But even if you only make 10% a year, you're still going to become very wealthy over the long term. People are getting scammed or throwing their money at gambling bitcoins because the return isn't happening fast enough for them. They should simply try a stable long term investment. I don't know any secure invesments in the developed world that pay 1% a year yet along 10% a year. You can achieve an average of 5-10% a year if you take short term risks. There is no safe investments paying 20% a year that I am aware of.... But everyone has a different tolerance for risk levels and one man's idea of safe might be very different from another Everyone thought they were safe in 2008 when the property and credit bubbles busted and caused a global recession.... I guess people in Cyprus and Greece thought they were safe too because their money was "safe" in the banks etc Anything paying 20% a year is likely risky or even an outright scam.... The Madoff ponzi paid 12% a year to put that that into perspective... |
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942
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Bitcoin / Bitcoin Discussion / Re: I am pretty confident we are the new wealthy elite, gentlemen.
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on: June 26, 2016, 06:22:48 PM
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You're one of the ultra rare lucky ones. Talk to the thousands of people with money in Mt Gox, Bitinstant, ButterflyLabs, Gaw Miners, MyBitcoin, Pirates Ponzi, Bitcoinica, Bitscalper, Inputs.IO, Vicurex, Cryptorush, TradeHill, CryptoXChange, GBL, Just Dice, Bitcoin Rain, The Silk Road Seizure, Sheep Marketplace, BS&T, PicoStocks, Bitfloor, Basic Mining, Mintpal and many, many others.
Why is Just-Dice on that list of ponzis, scams, hacks, and thefts? Just-Dice took care of the over 60,000 BTC entrusted to it and returned it all when it shut down. Ok, you found one that was corrected. The point remains that Bitcoin facilitates loss in a way that no other payment system does and has no insurance or fraud protection covering it. I was one of the lucky ones that made money when you could mine with a gpu at almost no cost other than electricity. From now on, people will need to put their own money in to it and they will only make money if they live long enough to see an enormous increase in the exchange rate. It's a gamble that may pay off but it's high risk. There are many secure investments that pay 10-20% a year. If you start today with $10,000 and average 20% a year for 20 years, you'll have over $380,000. Add $2,000 a year to the pot, and you'll wind up with $756,751 after 20 years. Granted, 20% a year is not super easy to achieve. But even if you only make 10% a year, you're still going to become very wealthy over the long term. People are getting scammed or throwing their money at gambling bitcoins because the return isn't happening fast enough for them. They should simply try a stable long term investment. What you said has nothing to do with Bitcoin. If you invest your USD cash with a shady startup, you have no way to get it back neither. It's naive people making bad investment decisions, has nothing to do with Bitcoin. Bitcoin behaves just like USD cash in terms you never get it back if you lose it. Any "guarantee" or "security" of USD comes from a 3rd party service (banks/insurance companies) I agree, the naive people are here claiming Bitcoin will hit $10,000 a coin in their lifetime when the exchange rate sat almost perfectly still for two years. It doesn't seem to be impossible. If we look at the money entering Bitcoin start ups and the true potential of Bitcoin, it definitely is possible that Bitcoin will appreciate in price in the future. Of course it will appreciate in price. It will also decrease in price shortly after the mining reward decrease. I'll return to this post after the current bubble pops and list the annual percentage of investment gain per year for the last three years. It won't be impressive and actually could end up being a negative number. Why only 3 years? Many of us probably bought bitcoins 6 years for single digits or even pennies..... I would say the percentage gains I've made over the years in btc would embarrass any legitimate savings scheme..... Maybe if you bought at $1200 you would be down at the moment but $1200 will easily be surpassed this year..... And ultimately... Those people will be glad if they held their btc Because this entire conversation thread has been about people buying in now instead of buying into other investments. I made a shitload of money too. As user CornedBeefHash I remember mining a shitload at less than $2 a coin, being so happy when it went to over $15 a coin and so depressed when it crashed to $2 and stayed there for what seemed to be forever. I'm looking at average rate of return for a few years for the average investor. The good old days are over dude. I remain optimistic or I wouldn't even be here, the first coins I bought about 6yrs ago so I have made several thousand percent roi already (and I have not sold the majority of my coins but have taken significant profits out along the way ) I am still trading but mainly hodling, I bought my most expensive coins ever a few days ago in the bfx panic drop lol All the disasters you listed are real, but could have been avoided if people had not trusted Mt gox as a "bank" or been greedy enough to join the ponzi schemes that were offering a few % a day etc (I could list even more disasters that happened with investors cash so Bitcoin is not really less safe than the people you trust to look after it) I keep private keys securely backed up in various forms and different physical locations and I don't trust foreign unregulated exchanges to keep my funds..... I think a price rise is enevitable but I don't think coins will double in value magically on the day of the halving.... More like the reduced supply will eventually push the price up over $1200 to a new ATH before the end of the year the ethereum crisis will probably dump money back into btc too because whether they do a hard fork or not will result in some % of disgruntled users.... And the dao Funds may be released around the same date as the halving which will be interesting to see as I guess huge trust will be lost in eth/dao To summarize, this is Gentlemen!  |
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943
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Economy / Speculation / Re: [prediction] Next spike $560,000 14 months from now
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on: June 26, 2016, 05:01:10 PM
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This clearly is not happening anytime soon, if ever, but if you were to say bitcoin will reach $1150 in 2012, people would call you crazy too.
Even so, There a big difference beetwen 560K and 1K. 560x But from nothing up to a penny Or a dollar up to $1200 is an even bigger 1200x gain It sounds incredible but who knows over the next 50 years it might be worth twice that 1.2million per btc.... Key word is "limited supply" and that's what keeps gold and diamonds valuable.... |
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944
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Economy / Speculation / Re: I'm All In - Sold My House!
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on: June 26, 2016, 03:53:22 PM
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That took some balls! You'll make a fortune if you HODL.
I would also never be able to sell my house for some Bitcoins I do not know how he pulled it off be he sure has some balls. Investing in Bitcoin is a risk but he is even taking a risk on top of that by selling of his house. Yes especially because land never depreciates so that house most likely would grow in more value than the bitcoins did... You didnt make a mistake but i would never do what you just did my good sir. Yeah me either i couldnt imagine going that deep into investing into btc it's too crazy the highs and lows because you just have no guarantee that you'll make money in the end but with the halving coming up i dont think it was dumb. although this topic is only created to troll us but i have seen crazy people like this in my life. there actually are some people who will sell all their belongings like even their home in order to make an investment; sometimes it is successful and they become super rich but most of the time these kinds of people will end up broke. I doubt someone would get super rich by investing crazily like that, except when one sold his house when btc were of cents value. Quoted for the 2020 halving... |
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945
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Bitcoin / Bitcoin Discussion / Re: I am pretty confident we are the new wealthy elite, gentlemen.
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on: June 26, 2016, 03:45:48 PM
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Unfortunately I don't have very much bitcoin right now so I don't know if I qualify. It's going to take me a long time to get 10 bitcoins if ever.
Set a goal and never give up. I also have a long way to go, before getting a chance to have a balance above 10 BTC. Too many of mine were sold before the 2nd great bull market move. Thanks for give support to newbie and begginer like me,i am still never give up to try reach my first whole bitcoin (1BTC) So far i not yet have feeling as new wealthy gentelmen because just have little amount of bitcoin  This is just an beginning mate, you can always work on it and try to grab as much coins possible for future, as price will be really high at that time which will make you wealthy gentleman for sure. Yep, you can reach 1btc in no time as long as you work very hard, just run a few signature campaigns and make like half a btc a month and then bam in 2 months you have yourself a whole btc. Hope this information helps you man good luck on your btc journey. Would be easier and less annoying for the rest of the forum users if he just got a regular job and bought some bitcoins with his wages than spamming a forum thousands of times a month...... |
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946
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Bitcoin / Bitcoin Discussion / Re: I am pretty confident we are the new wealthy elite, gentlemen.
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on: June 26, 2016, 03:31:45 PM
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You're one of the ultra rare lucky ones. Talk to the thousands of people with money in Mt Gox, Bitinstant, ButterflyLabs, Gaw Miners, MyBitcoin, Pirates Ponzi, Bitcoinica, Bitscalper, Inputs.IO, Vicurex, Cryptorush, TradeHill, CryptoXChange, GBL, Just Dice, Bitcoin Rain, The Silk Road Seizure, Sheep Marketplace, BS&T, PicoStocks, Bitfloor, Basic Mining, Mintpal and many, many others.
Why is Just-Dice on that list of ponzis, scams, hacks, and thefts? Just-Dice took care of the over 60,000 BTC entrusted to it and returned it all when it shut down. Ok, you found one that was corrected. The point remains that Bitcoin facilitates loss in a way that no other payment system does and has no insurance or fraud protection covering it. I was one of the lucky ones that made money when you could mine with a gpu at almost no cost other than electricity. From now on, people will need to put their own money in to it and they will only make money if they live long enough to see an enormous increase in the exchange rate. It's a gamble that may pay off but it's high risk. There are many secure investments that pay 10-20% a year. If you start today with $10,000 and average 20% a year for 20 years, you'll have over $380,000. Add $2,000 a year to the pot, and you'll wind up with $756,751 after 20 years. Granted, 20% a year is not super easy to achieve. But even if you only make 10% a year, you're still going to become very wealthy over the long term. People are getting scammed or throwing their money at gambling bitcoins because the return isn't happening fast enough for them. They should simply try a stable long term investment. What you said has nothing to do with Bitcoin. If you invest your USD cash with a shady startup, you have no way to get it back neither. It's naive people making bad investment decisions, has nothing to do with Bitcoin. Bitcoin behaves just like USD cash in terms you never get it back if you lose it. Any "guarantee" or "security" of USD comes from a 3rd party service (banks/insurance companies) I agree, the naive people are here claiming Bitcoin will hit $10,000 a coin in their lifetime when the exchange rate sat almost perfectly still for two years. It doesn't seem to be impossible. If we look at the money entering Bitcoin start ups and the true potential of Bitcoin, it definitely is possible that Bitcoin will appreciate in price in the future. Of course it will appreciate in price. It will also decrease in price shortly after the mining reward decrease. I'll return to this post after the current bubble pops and list the annual percentage of investment gain per year for the last three years. It won't be impressive and actually could end up being a negative number. Why only 3 years? Many of us probably bought bitcoins 6 years for single digits or even pennies..... I would say the percentage gains I've made over the years in btc would embarrass any legitimate savings scheme..... Maybe if you bought at $1200 you would be down at the moment but $1200 will easily be surpassed this year..... And ultimately... Those people will be glad if they held their btc |
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947
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Economy / Speculation / Re: 57 bitcoin... will I have 6-figures in my bank acct by end of 2016?
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on: June 24, 2016, 08:26:53 PM
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Why are people looking for such a quick return in bitcoin.....
fools..
A majority of the people looking for a quick return with bitcoin think that we'll experience another 2013, where the value spiked from $100 to $1.2k and they'll be able to walk away with a lot of money, while also completely disregarding the fact that a lot of the Mt.Gox value was manipulated into existence through a bot, and not through investors. Just think how many more people/countries even are on the train now that didn't know what a Bitcoin was back in 2013.... If it hits 1.2k on the next high there is no reason why it would stop there, I foresee spikes to 1200-1500-1800-2000 this year and then it will correct itself down to some point that will still likely be above 1.2k |
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948
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Bitcoin / Bitcoin Discussion / Re: I am pretty confident we are the new wealthy elite, gentlemen.
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on: June 24, 2016, 08:18:31 PM
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He's probably in a mental ward at some hospital in Texas. This is the exact reason why i think that pretty much none of the people here are "elite, wealthy gentlemen" lol this is literally the epitome of idiocy and that alone just shows that you are not "elite". Everyone on this forum knew Atlas back then. He used to hang out on the SomethingAwful forum too. You're right though, there are no wealthy elite here, only sheep waiting to be fleeced. OP deleted his account it seems, probably because he is so rich now that he doesn't want to post on forums anymore and is enjoying his new found wealth.
Hopefully we can be like OP in a couple of years. HODL.
He was a 16 year old self proclaimed nihilist kid from Texas with mental problems, abused by his parents, that tried to commit suicide and posted about it on this forum. Speak for yourself, Bitcoin made a lot of money for a lot of people who I know since back when btc were in single digits, myself included.... On the flip side, I know people who invested in scams and ponzis and even lost their private keys and lost what would be considered fortunes today through sheer carelessness... Take your pick.... Most of the old faces I knew are gone or using different accounts now but scores of millionaires were made in 2013 and even more will be made in 2016.... This is gentlemen.... |
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949
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Alternate cryptocurrencies / Altcoin Discussion / Re: If you are freaking out right now, you are over-invested in crypto
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on: June 17, 2016, 07:53:55 PM
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Mutual funds are for suckers..That's where Johnny the cash Diversify!
You should be well aware that crypto is NOT investment, it is pure speculation. With the great opportunity for profit comes great risk. Risk and reward are HIGHLY correlated in financial endeavors.
If you paid "tuition" today, learn from it.
This is great advice, but I think the issue with many is that they invest a lot of money into crypto because they see the barrier for stocks/bonds as too high or scary. I think mutual funds are comparable to mining if you pay attention and think of it like that, some will pay well per quarter and some will hurt, look at history and make a meaningful decision. Mutual funds are for suckers saving a portion of their salary for retirement. Hedge funds are a more reasonable place to invest money. Super high-risk investments are safe if each individual investment is only a small portion of your bankroll. anything super high risk is more like gambling than an investment lol some investement scams ive seen over the years here have had worse odds of getting returns than casino games |
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950
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Alternate cryptocurrencies / Altcoin Discussion / Re: DAO/ Ethereum hacked - bitcoin price?
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on: June 17, 2016, 07:48:00 PM
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BTC is 7 years old, decentralized and never had a rollback because of stolen coins, never had satoshi acting like a dictator frozing funds on an exchange to avoid panic selling.
ETH is fucked beyond salvation, only 1 year after.
and..Bitcoin is a currency ..Ethereum is NOT !and..Bitcoin was not launched as an ICO scam !and..Ethereum was bought up by scammy millionaires for a P&D later back on launch day.and..Satoshi never dumped 25% million+ of ETH on the masses like V. Butterin did !
..game over . Indeed, this is looking really, really bad for ETH holders. Im so lucky I was able to sell my ETH right before Poloniex frozen them. DAO will likely not recover from this , even eth is dropping like a stone hopefully there is not more hacks they have not found out about yet ......... |
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951
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Other / Off-topic / Re: Which BTC wallet are you using
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on: June 17, 2016, 06:48:04 PM
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No web based wallet. I can't trust any online website to store value anymore. Mobile wallets I also don't trust fully. Multibit or Bitcoin core seem to be the 2 best. I think these can be the most trusted.
Exactly correct! Do not trust exchange or online wallet services if you can have a safe wallet at home on your pc and backed up on several places |
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955
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Alternate cryptocurrencies / Altcoin Discussion / Re: DAO/ Ethereum hacked - bitcoin price?
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on: June 17, 2016, 11:28:46 AM
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So the DAO is getting drained as we speak. 150 million investment into crypto gone just like that.
So how will this effect the bitcoin price?
Why do all the OP starting new threads on the DAO exploit mention Ethereum? - there are no exploits or attacks ongoing with Etherium. u should probably check the news ...........eth/dao took a beating aboput 2hrs ago worth about 50 mil usd |
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