bitcoins. waste of money?

[RAGEREDSONIC]

hey every1 my parents recently cut off my allowance bcuz they found out i was using it on bitcoins.  they said it was a waste of money bcuz they DONT UNDERSTAND BITCOINS.  FUCK

how can i get them 2 understand bitcoins?  is there an article or sumthing i could show them so even they could get it?

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[Bitcraft]

google?

[RAGEREDSONIC]

i typed bitcoin waste of money? into google and it came back with replys saying bitcoin is a waste of money

THATS WHY IM AKSIN FOR ARTICLES GENIOUS

[greyhawk]

Have you tried using your Bitcoins to apply for additional schooling? Because you sure would benefit from that.

[RAGEREDSONIC]

wtf is additional schooling?  QUIT TROLLING.  all im askin for is articles about how awsome bitcoins is jesus

[nmat]

You are rude and your behavior is inappropriate. Additional schooling could improve that.

What are you doing with your bitcoins anyway? Why do you need them? That's what you need to explain.

[RAGEREDSONIC]

>implying u all werent being rude to me 1st

im trying to make money off bitcoins bcuz my parents only give me $10/wk.  wtf does it matter2u?

[greyhawk]

wtf is additional schooling?  QUIT TROLLING.  all im askin for is articles about how awsome bitcoins is jesus

You should try employing some more efficient trolling methods. Yours is just uncreative and is outdated by about 10 years now.

I actually offer courses on how to efficiently and successfully troll forums. Depending on how much of your allowance is still available you might consider on enrolling in "Trolling 101".

[nmat]

im trying to make money off bitcoins bcuz my parents only give me $10/wk.  wtf does it matter2u?

Because that's the reason why you are using bitcoins. I could tell you that bitcoins are great for international money transfers or that it is a technological/social project with many interesting cryptography concepts, but why would you or your parents care?
You do not need to make international transfers, you certainly are not studying any of the underlying technology and you should not be making high risk investments if you are young and you do not have your own money. That's why your parents cut your allowance and they did great.

You should only be spending money you don't need with bitcoins. Money you don't need is something that you don't have, because you do not work to earn it.

[Synaptic]

im trying to make money off bitcoins bcuz my parents only give me $10/wk.  wtf does it matter2u?

Because that's the reason why you are using bitcoins. I could tell you that bitcoins are great for international money transfers or that it is a technological/social project with many interesting cryptography concepts, but why would you or your parents care?
You do not need to make international transfers, you certainly are not studying any of the underlying technology and you should not be making high risk investments if you are young and you do not have your own money. That's why your parents cut your allowance and they did great.

You should only be spending money you don't need with bitcoins. Money you don't need is something that you don't have, because you do not work to earn it.

You listen to me, kid.

Get your allowance back, beg if you have to.

Then you take that $10 a week and you save it.

And you save it and save it and save it.

Get yourself a nice wad of cash going, you need to be responsible with this money, because you have a goal.

Keep saving that fucking money like you're a pro, don't get weak.

Save up until you've got $100-150, get it in $5 so it feels nice and fat in your pocket.  Feel that wad of cash?  That's success.

Now you take that fat wad of cash to school or the park or wherever teens hang out. Say you're looking for some nug/bud/weed/pot.

Now, don't be stupid, have some friends with you, you're not going to lose this shit now, you've earned it.

Now you ask around until you've got the hook up, and drop all $150 on a fat sack of the greenest stinkiest shit you've ever imagined.

Smoke it. Smoke that shit. Smoke as much as you can, go wild. Hell, invite some underage chicks over, get them stoned too, they'll get REAL excited.

And once you're fucking blazing up with some hot chicks or at least a nice full bottle of lube, and you're just going at that shit, you ask yourself:

Is this worse than Bitcoin?

One word: Satori.

[mjcmurfy]

This is all a bit unfair to the kid. He is asking for information on bitcoin that he can use to help inform his parents. I don't see the problem with this. The more people who know about it, the better. Even if it is just kids and their parents.

RAGEREDSONIC, unfortunately, your parents are correct. The price of bitcoin at the moment is very unstable, and people have not yet settled on a true price that they are willing to pay. This means that they are slowly losing value over time. This will stop once the price reaches it's true valuation. You will lose your allowance if you use it to buy bitcoin now, or if as your parents seem to have discovered, that you have already bought it at inflated prices. it's a bad idea, they are right, and I don't recommended that you keep doing it.

However, that does not mean you can't make any money. All you have to do is think of a good or service that you can provide to people in exchange for bitcoin. Instead of using your allowance to buy it, try and think of something you can trade for it. This way, you will earn bitcoin, which can be converted into dollars.

Since you are quite young however, it is unlikely you have any goods or services that people are willing to buy.

So, what I would recommend is that you stay in school, and save your allowance. Then when you get a job, save as much of that as you can too. Save till your piggy bank is bursting at the seams. And rather than buying drugs with it, as suggested by someone else, use it to help pay for a university degree.

Once you have done all that, come back here, and you may have something to offer people that they are willing to pay you for in bitcoin. Until then, be patient my young padawan...  

[Synaptic]

This is all a bit unfair to this kid. He is asking for information on bitcoin that he can use to help inform his parents. I don't see the problem with this. The more people who know about it, the better. Even if it is just kids and their parents.

RAGEREDSONIC, your username is retarded, and your parents are correct. You will lose a significant amount of your allowance if you use it to buy bitcoin, it's a bad idea and it's not recommended.

The price of bitcoin at the moment is very unstable, and people have not yet settled on a true price that they are willing to pay. This means that they are slowly losing value over time. This will stop once the price reaches it's true valuation.

However, that does not mean you can't make money with them. All you have to do is think of a service that you can provide to people in exchange for bitcoin. Instead of using your allowance to buy it, try and think of something you can trade for it. Some goods or services. This way, you will earn bitcoin, which can be converted into dollars.

Since you are quite young, it is unlikely you have any goods or services that people are willing to buy. So, what I would recommend is that you stay in school, and save your allowance. Then, when you get a job, save as much of that as you can aswell. And rather than buying weed with it, like was suggested by another person here, use it to go to university and get a degree. Once you have done that, you may have something to offer people that they are willing to pay you for in bitcoin.

Until then, be patient my young padawan...

You hear that?  He wants you to cosplay jedi with him so he can "teach you" about the force.

I'm quite frankly appalled.

[mjcmurfy]

You hear that?  He wants you to cosplay jedi with him so he can "teach you" about the force.

I'm quite frankly appalled.

You're absolutely right. What was I thinking?!

Oh wait, aren't you the one who suggested that all he needs is pot, lube and underage girls? I mean I agree with you (minus the lube of course, teenagers don't fucking need lube) but thats the danger of the moral high ground.

[Stephen Gornick]

how can i get them 2 understand bitcoins?

Depending on what sources they trust, this may be useful:
 - http://www.economist.com/node/21518611  The Economist article on Bitcoin

You could try this angle: You have an interest in currency trading and there is only one market where you can participate with $10 or less a week, and that is bitcoin.  If you simply break even you are doing better than most everyone else and that would indicate perhaps that you might have a future in the financial industry.

im trying to make money off bitcoins bcuz my parents only give me $10/wk.

Do you have anything that you would be willing to sell in exchange for bitcoins?  it costs nothing but your time to list on BiddingPond.com for example.

[Weaver]

Let's all feed the trolls!

[FreeMonies]

it sounds like they just dont believe you... maybe you should give them a full dissertation on why you should be able to invest your OWN money into BC. its just like the stock market after all.

[Dratt]

Do you have an Android phone? The Bitcoin Wallet is a great demo of how you can send money back and forth using Bitcoins.

[Gerken]

it sounds like they just dont believe you... maybe you should give them a full dissertation on why you should be able to invest your OWN money into BC. its just like the stock market after all.

Agreed, tell them in your own words, what bitcoins mean to you, to the world, and to them as a family.  Post it here for proofreading. 

[Stalin-chan]

Comedy Gold.

I've donated some coins to Sonic in hopes of that helping solve his Bitcoin crisis.

[Revalin]

rageredsonic:

Your parents are probably right.  If you only have $10 per week to spend, there are probably better things you can spend it on.  You should understand that BitCoins are high risk, and I would not recommend that you buy them unless there's something you plan to buy with your BitCoins.

So, that said, if you still think you want them, here's what you need to tell them:

The point of an allowance is for you to learn how to manage money.  That doesn't mean spending it on things that your parents think you should.  It means giving it to you, and you learning to deal with the consequences of the choices you make.  If you lose a few weeks of allowance but you learn an important lesson about markets and economics, it'll be probably the best $50 you'll ever spend in your life.