I bought a bitcoin!

What the fuck is bitcoin anyways? I know it is some sort of algorithm or what not, and there are a finite amount of them, but how does an algorithm become money? I mean, I see part A, and part C, but the middle seems missing.
1*sVy3WludhUd9Jbnu7T5KVQ.png
Holy fuck what an apt comparison lol
 
Mang some nerdy tech guy told me that when bitcoin was in its infancy he would give out his bitcoins that he mined to his friends and acquaintances <NotListening>
 
I was looking up prices for lots of acid on the deepweb and it would seem one can become a lucrative businessperson were he to purchase some bitcoin then invest...
 
Crypto hit a big bump months back and shit def dropped across the board.

I'm not selling my Etherum for anything though, I'm riding that bitch out until the end. I've also made a nice profit with it for what I invested
 
Remember that joke "I've got a bridge to sell you". Bitcoin is that on a massive scale.
 
There’s a giant crypto thread on here where you could probably get better info for your queries.
 
nice work

tenor.gif


PS think what you are gonna buy with your huge profits
 
Just found this.
"Bitcoin is big right now, probably too big for its own good. Since a Bitcoin has no value beyond what someone is willing to pay for it, the price of Bitcoins tends to change quickly. Indeed, in mid-January a single Bitcoin was valued at $15, which makes people who bought Bitcoins back then and sold them at $260 apiece yesterday very successful investors.

The currency’s popularity (and therefore price) increases in international markets that have become unstable—say, when a government threatens its citizens with capital controls and currency restrictions, as Cyprus did last week.

“Bitcoin is a very volatile asset, and the recent developments in the price of Bitcoins do have some of the characteristics of an economic bubble,” says Professor Magnus Thor Torfason, Assistant Professor of Business Administration at Harvard Business School."




The fuck?
 
Just found this.
"Bitcoin is big right now, probably too big for its own good. Since a Bitcoin has no value beyond what someone is willing to pay for it, the price of Bitcoins tends to change quickly. Indeed, in mid-January a single Bitcoin was valued at $15, which makes people who bought Bitcoins back then and sold them at $260 apiece yesterday very successful investors.

The currency’s popularity (and therefore price) increases in international markets that have become unstable—say, when a government threatens its citizens with capital controls and currency restrictions, as Cyprus did last week.

“Bitcoin is a very volatile asset, and the recent developments in the price of Bitcoins do have some of the characteristics of an economic bubble,” says Professor Magnus Thor Torfason, Assistant Professor of Business Administration at Harvard Business School."




The fuck?
giphy.gif


Bitcoin hasn't been $250 in years.
 
Just found this.
"Bitcoin is big right now, probably too big for its own good. Since a Bitcoin has no value beyond what someone is willing to pay for it, the price of Bitcoins tends to change quickly. Indeed, in mid-January a single Bitcoin was valued at $15, which makes people who bought Bitcoins back then and sold them at $260 apiece yesterday very successful investors.

The currency’s popularity (and therefore price) increases in international markets that have become unstable—say, when a government threatens its citizens with capital controls and currency restrictions, as Cyprus did last week.

“Bitcoin is a very volatile asset, and the recent developments in the price of Bitcoins do have some of the characteristics of an economic bubble,” says Professor Magnus Thor Torfason, Assistant Professor of Business Administration at Harvard Business School."




The fuck?

The interesting thing is that some big hedge firms are getting into cryptos, I've also read some banks are working on using cryptos as well.

We all know banks want to make money so that strengthens crypto. I also read Starbucks will start taking crypto in November.
 
What the fuck is bitcoin anyways? I know it is some sort of algorithm or what not, and there are a finite amount of them, but how does an algorithm become money? I mean, I see part A, and part C, but the middle seems missing.
1*sVy3WludhUd9Jbnu7T5KVQ.png
Watched a documentary on netflix hoping to find out what the backing was. And it was boring and even more confusing. It was talking more about the inventor and how he was very cryptic and how it isn't traceable, black market, blablabla. It did say it used USD as pretty much the backing. Just a bunch of nerds put a value on something useless and other nerds bit and it spread.

One of my coworkers said a gym buddy invested about 10k when it was starting out and made a ton. Sold them when they were 16k or so a pop. Think he said close to half a million before taxes. Guy was mad he didn't invest more but he was going to college so couldn't afford to invest anymore. Some Indian guy that works at Qualcomm
 
I'm big into Ethereum Blue.

Bought in at $0.25, it got up to $1.90 and now has crashed back down to $0.18.

I believe there is a good chance it will come up significantly, as the use case for it is the most solid I have seen of any crypto so far, and has a solid, experienced team with long term goals.
 
Back
Top