Please, /blog/, tell me there is a way to short sell this shit. We all know that this is a bubble, surely there is a way to profit on these morons, right?
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Anonymous2013-03-02 22:27
lol I'm going to enjoy >>1 butthurt tears once it doubles its price
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Anonymous2013-03-02 22:31
There is no practical way to short them. You can open a bitcoin bank\exchange, then sell the deposits and buy them back when they withdraw them, but I doubt there is much of an audience.
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Anonymous2013-03-02 22:34
>>1
you know how short sell works? you borrow something and sell it. then when this something is cheaper you buy it and repay the debt. so just find somebody who agrees to lend you bitcoins
heh, i just think i could have got a few easy thousand of dollars if i had paid attention to this bitcoin crap a couple years ago
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Anonymous2013-03-02 22:39
yeah go ahead and start repeating the same patterns than the fake actual monetary system
Why do you care about speculating on Bitcoins? Why don't you use it simply as a means of exchange for goods and services?
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Anonymous2013-03-02 23:12
There have been so many Bitcoin bubbles that it's a joke now. The price goes up and down and up and down. This is why it can't be taken seriously as a currency.
>>8
It's been over $30 exactly twice. Once after silkroad was reported on the 10 o'clock news, and now. You could argue that it is nothing but a bubble, but overall, it's less volatile than some real currencies.
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Anonymous2013-03-03 0:08
forget about bitcoins, check this dubz!
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Anonymous2013-03-03 0:19
BTC will thrive as long as there is a hobbyist fanbase and a much larger online underground, at least until something better comes along. Right now it's the best way to transfer money with the most anonymity. BTC doesn't need speculators anymore.
>>8
People can advertise prices/fees in a more stable currency or gold; the bitcoins to be transferred can be calculated at the time of transaction to meet the current exchange rate with that alternate currency or precious metal.
I call it Bitcon or Shitcoin. Satoshi Nakamoto currently possesses the largest amount of BTC for any individual. How? Because he was mining before anyone else knew about it. He's bamboozling the dumb Goyim Gaijin who are enticed by the idea of mining "free" money that can be used for drugs and shit. If Satoshi pulls out, the value will plummet.
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Anonymous2013-03-03 1:24
>>14
No. Gold has risen 350% over the past ten years, most probably due to the "BUYGOLDBUYGOLDBUYGOLD" shit that is plaguing television and AM radio in the US. Yet it is still down 6% over the past two months. The price is very volatile and at times seems more manipulated than forex manages to be.
>>15
1 - How do you know how many BTC he has? He has been MIA for a few years now.
2 - Satoshit is unlikely to really be Japanese. He never wrote Japanese and never backed up that claim. Don't put too much stock in the proclaimed identities of people who work on anonymity projects. Though the thought of some nip NEET doing all this to get money is appealing, I don't see it really happening.
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Anonymous2013-03-03 1:34
>>15 If Satoshi pulls out, the value will plummet.
He could probably work out a set of differential equations and figure out the best rate at which he can pull out while maximizing the profit.
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Anonymous2013-03-03 2:08
>>15
BC is a currency, not an investment. People find value in a pseudo-anonymous currency. People find value in a way to exchange goods and services with minimal merchant or processing fees over the Internet. If Nakamoto chooses to flood the market by cashing out his collection of BC, all it would do it cause inflation to the value of BC until the point when it will stabilize. How would that be not different to a gold rush where one finds an easy to obtain vein of gold ore then others join in the market?
>>19
Visa is controlled by the Visa company, BC is controlled by consensus of the BC users.
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Anonymous2013-03-03 6:16
Any fixed emission money lead to monopoly and shortage, which leads to economy slowdown and crisis. Read Karl Marx.
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Anonymous2013-03-03 10:29
Bitcoin is an Israeli project, aimed at undermining goyim governments and expanding Jewish domination: http://en.wikipedia.org/wiki/Bitcoin investigation brought up circumstantial evidence that indicated a link between an encryption patent filed by Neal King, Vladimir Oksman and Charles Bry...
I.e. kikes.
Peter Vessenes, Bitcoin Foundation's executive director, said, since the foundation is trying to pay for everything in bitcoin, including salaries, "How do we W-2 someone for their bitcoins? Do we mark-to-market every time a transfer happens?
Then again, the major computing providers, Intel and Nvidia, are Jewish and would profit immensely from computing-based currency.
And the LORD thy God will put out those nations before thee by little and little: thou mayest not consume them at once, lest the beasts of the field increase upon thee. But the LORD thy God shall deliver them unto thee, and shall destroy them with a mighty destruction, until they be destroyed. And he shall deliver their kings into thine hand, and thou shalt destroy their name from under heaven: there shall no man be able to stand before thee, until thou have destroyed them. The graven images of their gods shall ye burn with fire (Deuteronomy 7:22-25)
1 TTTTTTT BBBBB TTTTTTT RRRRRR AAA NN NN SSSSS AAA CCCCC TTTTTTT IIIII OOOOO NN NN LL OOOOO GGGG ???
111 TTT BB B TTT RR RR AAAAA NNN NN SS AAAAA CC C TTT III OO OO NNN NN LL OO OO GG GG ?? ??
11 TTT BBBBBB TTT RRRRRR AA AA NN N NN SSSSS AA AA CC TTT III OO OO NN N NN LL OO OO GG ??
11 TTT BB BB TTT RR RR AAAAAAA NN NNN SS AAAAAAA CC C TTT III OO OO NN NNN LL OO OO GG GG ??
111 TTT BBBBBB TTT RR RR AA AA NN NN SSSSS AA AA CCCCC TTT IIIII OOOO0 NN NN LLLLLLL OOOO0 GGGGGG ??
FFFFFFF UU UU CCCCC KK KK YY YY EEEEEEE AAA HH HH BBBBB TTTTTTT FFFFFFF TTTTTTT WW WW !!!
FF UU UU CC C KK KK YY YY EE AAAAA HH HH BB B TTT FF TTT WW WW !!!
FFFF UU UU CC KKKK YYYYY EEEEE AA AA HHHHHHH BBBBBB TTT FFFF TTT WW W WW !!!
FF UU UU CC C KK KK YYY EE AAAAAAA HH HH BB BB TTT FF TTT WW WWW WW
FF UUUUU CCCCC KK KK YYY EEEEEEE AA AA HH HH BBBBBB TTT FF TTT WW WW !!!
>>29 And the LORD thy God will put out those nations before thee by little and little: thou mayest not consume them at once, lest the beasts of the field increase upon thee.
The Hebrew word for nations is Goyim. Beasts of the field also refers to the Goyim, who the Jews call cattle.
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Anonymous2013-03-04 6:11
JEWS - JEW
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Anonymous2013-03-04 6:20
>>51
Not all beasts are cattle. Some are noble, like lions, bears or wolves.
>>55
real furry have an acc on furaffinity. nikita, they will fucking love you there, just write a furry anti-jew game %%in symta%% and pretend that you are a delicate female wolf trapped in a male body
I have no credit with which to borrow bitcoin. Is it possible to naked short them? Do the bitcoin exchanges act as market makers or as simple dealing desks?
>>61
if you don't want/cannot actually borrow something there are other ways to short sell, it's forward contract and option. basically you should find somebody and agree with him (yes, i'm sexist) that you will sell him bitcoins at fixed price in future and he will buy them at this price. when the day come you buy bitcoins on open market and sell them to him at that fixed price. if the market price is lower than the contract fixed price you get profit, otherwise you lose money
>>65
you should be glad because it means bitcoin become a real currency. any currency is a subject of speculation since ancient times. remember those moneychangers whom christ drove away from the temple
>>69
Yeah, the government loans money from the Fed. Then the government pays interest to the Fed. Then Fed gives all its profit to the government. You can't explain that.
>>73
405. i mined 400 of them back when mining was a lot easier and got 5 from some bitcoin faucet site. haven't ever spent a single one.
looks like that was a few pennies worth of cpu time well spent.
Three days later, and it's now at $43. Will it hit $50 by the end of the week?
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Anonymous2013-03-06 0:28
>>85
BUBBLE BUBBLE BUBBLE
It's like I'm living in June 2011 all over again. I look forward to picking up coins for $5/BTC in a month after everyone decides it's time for a market correction and dumps their stash in anticipation of the event that they are creating.
That's the problem with bitcoins. Not enough real use for them right now. If we want it to succeed (which I personally do), as a currency rather than a security, the part where there are lots of places to spend and receive bitcoin need to come first. Then speculation can be tempered by actual usage of the money. As it stands, bitcoin is pretty much denominated in dollars. If you want to sell something, you think of a price in dollars (or yen or euro, but those will likely be processed as cross-currency trades of the dollar anyway) and then convert it to bitcoin. (Perhaps if three-dee printing lives up to it's hype, things will get better, where people can just name 5BTC for a design or something.) All these 60% rises and falls over the course of three months is very off putting to adopters and is really going to burn people who buy at 50$ and watch it lose half it's value in a month (or people who sell at 25$ thinking it's doing to fall and watch it rise to 50$). All this volatility isn't good for anyone except the speculators (if I were a certain Russian, I'd blame the chosen people).
Not that I'm helping with that. I'm much too scared to start any sort of enterprise. This is a problem for someone who isn't me.
>>86
I plan to just hold on to my stash. When the current bubble bursts it'll probably drop to somewhere between $25 and $35 and resume it's slow climb in value relative to USD. Bitcoin's deflationary nature and the Fed's attempts to inflate the shit out of the dollar (because they believe that inflation equals economic growth) make it pretty obvious what the long-term trend will be.
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Anonymous2013-03-06 2:06
>>86
The only thing a currency needs to be successful is people using it. It doesn't matter what for. People are using BTC for investment, anonymous gambling, programming jobs, buying digital services anonymously, blackmail, transacting in illegal guns, illegal drugs, hitmen jobs, etc. There are a lot of things that can only suitably be done with BTC and nothing else, such as gambling anonymously.
>>95
No. The price will go down. Let us bet 5BTC on this.
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Anonymous2013-03-06 14:31
Actually Bitcoin could be used (and is being used) as a PayPal alternative, and everytime there is a USD=>BTC=>USD transaction the Bitcoin economy grows.
So, welcome to the new age of crypto-globalised economy!
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Anonymous2013-03-06 20:16
It's $33 again ;)
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Anonymous2013-03-06 20:24
ITT: samefag tries to artificially inflate the price of bitcoins via hype
here's how pump-and-dump schemes work:
1.) buy a lot of something
2.) hype it up and tell everyone they should invest in it
3.) dump your supply once the price goes up due to speculative investors
4.) everybody else loses money
they come in waves, because there's no point in hyping bitcoin after a dump... they wait until it crashes again and gain enough of a warchest before hyping it again
you're all retarded
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Anonymous2013-03-06 20:52
>>98 and everytime there is a USD=>BTC=>USD transaction the Bitcoin economy grows.
thank you for shedding light on your utter ignorance of finance and taxes
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Anonymous2013-03-06 20:54
>>101
not him but what are some good books or something for me to learn proper finance and taxes and economics?
With a high of 49$/BTC and a low of 33$/BTC today, I can say with high confidence that the bubble is about to burst. Such volatility is not sustainable.
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Anonymous2013-03-06 21:45
>>104
Looks like it has burst. I bet it'll level off at about $30 and then get up to at least $35 again within the next two weeks.
>>97
Okay, I'll bet 5BTC that one year from when I make this post the price of a bitcoin in USD (on the largest exchange at that time) will be higher than it is now ($34.20).
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Anonymous2013-03-06 22:17
Thanks to whoever sent me 9.5μBTC (at 1Lz6nNkkk3KPc86oysA8ouQDUoVv7jbqjD)! I'll love you forever!!!!
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Anonymous2013-03-06 23:44
>>106
I'll admit that I've been to the imageboards a couple times, but world4ch has and always will be my home... well, world4ch and SAoVQ. Mainly the latter, actually. But I digress...
Rather than dismiss my post because of a single term which gets your panties in a bunch, listen to what I'm saying.
People make Bitcoin-related threads because they want to artificially inflate the price so they can capitalize off of idiotic people on the internet.
A fool and his money are soon parted.
The concept of a decentralized, virtual currency is neat. The problem is that people don't use Bitcoin except for pump-and-dump schemes, money laundering, etc. No one uses Bitcoin purely as a currency. It's all about making anonymous purchases or ``investing''.
One day, there will be a virtual currency which is used as an actual currency. This is not that day, and Bitcoin is not that currency.
No one uses Bitcoin to buy groceries. Even if grocery stores did accept Bitcoin, it still wouldn't be very popular there. People only really make purchases with Bitcoins when they want anonymity. It's not the same as a regular currency.
This is yet another case of ``the users ruined the software''. Same with Tor, Truecrypt, etc.
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Anonymous2013-03-07 0:02
>>111
oh fuck off, there's nothing wrong with you know what ;).
>>111
because anonymity it's the only bitcoin advantage. anonymity and high volatility, bitcoin cannot offer anything else yet. what do you want to use it for? just for the sake to use bitcoin? you skipped the first part of my post about free conversion, before bitcoin get widely accepted nobody will use it without any special reason. like those grocery stores, if you could have a real bitcoin bank account with a plastic card with automatic currency conversion (like visa does for any 'real' currency), why not, you would be able to pay with bitcoin in a grocery store which had prices in dollars or anything
>>122 yeah, but isn't that a good thing?
#120-- more a remark about legit\counterfeit money printing than anything, sorry i wasn't really paying attention =)
I really do like the mining idea though, much better than relying on a bank to print money for everyone (themselves)... too bad it's already infeasible to make much of any money mining..
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Anonymous2013-03-07 3:27
>>126
>too bad it's already infeasible to make much of any money mining..
>>130 mornin'
Maybe it's just me, but doesn't printing money (at least in a centralized manner) cause inflation (devaluation of the currency, in essence making savings worth less over time // in effect robbery?)
well, a fair amount anyway.. and i've built a few (probably a bit sketchy) hash functions in my time =D
seems like bitcoin has the opposite problem to most currencies though - too much deflation ..? a little is probably good though, but i paid 20$ for a gold-plated coin once, so 30$ for something that barely physically exists seems a little steep.
>>133 Maybe it's just me, but doesn't printing money (at least in a centralized manner) cause inflation (devaluation of the currency, in essence making savings worth less over time // in effect robbery?)
No, it's not just you, many idiots believe deep inside that money is used to buy stuff from magical interdimensional traders, thus don't include production at all and increases in it in particular in their reasoning. Some of them are also 13 years old and believe that grown up's savings are the same thing as five bucks in nickels and quarters they stashed in a shoebox.
So no, it's not just you at all, in fact you can find vibrant communities of like-minded retards virtually everywhere on the interwebs!
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Anonymous2013-03-07 8:23
>>129
And mining gold is just a roundabout way of burning actual time!
so many jews in /prog/ in here, it's fucking pig disgusting: why you hate bitcoin? it's the only fucking why to get the fucking out of the banking system
/prog/: where bitcoin is the only sane alternative to the gold standard, ololo. >>142, before you consider how to get out of the banking system, maybe you, personally, should try to get in first, if you know what I mean? And no, your parents giving you allowance doesn't count.
Two hours into the MtGox trading day and it's already been between 45$ and $40. You'd have to be a huge idiot to buy for anything other than speculation right now.
>>129
When I mined--mostly in mid-2011 and early 2012--I calculated that my GPU drew about 25 cents of electricity per day. I don't remember how long I mined, but lets say 200 days, and I have more than 60 BTC left. The GPU cost about 200. 60*40-50-200=$2150... not bad.
The reality is that mining is profitable--that's why there are still miners.
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Anonymous2013-03-07 23:43
>>155
The part of the reality that you're missing is that mining is a lot more difficult than it was then.
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Anonymous2013-03-07 23:45
what cost of mining, don't you use your computer anyway
i have a plan
let's start a distributed computing project. we advertise it as a children cancer research or something but actually we would mine bitcoin :3
>>162
Reddit likes children, especially girls. This might just work!
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Anonymous2013-03-08 12:12
>>160-162
That's exploitive. Of you want to do that, just run a botnet.
>>163
But what happens when you are discovered? Then lolies that do need help will be ignored because people think it is a scam. That's mean and you shouldn't do it!
Wait for BTC to fall for at least $25. Analyzse to see if it will continue falling or start rising. Depending, invest heavily on it or wait for a bigger fall.
Wait until it reaches around $50.
Invest all of it in LTC and wait.
Simply wait...
Sooner or later (perhaps it takes some years, perhaps some weeks), there will be a Silk Road or equivalent for LTC and prices will skyrocket.
Why would any of you retards take investment advice from fellow /frog/riders?
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Anonymous2013-03-08 23:35
I really need to get around to building a GPU miner on the walls of my bedroom... I can get some OpenCL-capable graphics cards dirt cheap. This place gets fucking cold at night, I could kill two birds with one stone.
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Anonymous2013-03-08 23:44
>>173
You'll spend more on electricity than you'll earn mining bitcoins.
>>174
I don't really care if I break even or not. It'll cost me money to heat this room anyway.
It also doesn't have to be just for mining. It'd be useful for cracking tripcodes, too...
>>176
Unless you spend all day everyday doing power intensive computations on your computer, chances are, mining for bitcoins would probably be the most energy demanding application anybody can do. Examples of demanding computations include SETI@home, folding@home, high end gaming, and media production.
>>188
Does the Russian internet have something like lurkmore or ED to record all their shit? Learning about Russian anons might be fun, but I don't care to lurk.
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Anonymous2013-03-09 15:03
>>189
Runet has lurkmore.to, but it is mostly filled with politics crap.
>>191
I'm glad there is a term for the kind of /prog/ridery I've been engaging in as of late.
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Anonymous2013-03-09 16:08
>>191
Article is a little incorrect, because in practice kaschenists were the antisemites and mocked the Jews by trivializing Holocaust and using exaggerated Jewish mannerisms.
>>196
Selling low is fine as long as you don't sell at a loss, if the superior fundamental analysis, than when the stupid technical analysis tells you that it'll keep going up and then it crashes.
Bitcoin simply it's that valuable. There will most probably be a market correction soon and you will lose everything.