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At 12/17/13 06:38 PM, Feoric wrote:

At 12/17/13 06:31 PM, MintPaw wrote: The main point is that it's decentralized, no government has control over it, it can never be taxed, never get charged back, not debt based in any ways so you can never borrow it meaning no banks can ever exist for it. It's a pretty good idea, especially if you own some kind of small business and don't wanna pay bank fees or the bulk of the taxes.

If you were a business owner, would you accept an alternative unregulated currency with no sort of control that fluctuates +/-5% in value on a daily basis?

I would, because BTCs always go back up in value. I'd sell as soon as it hit a good high point and end up with more than what I should have been paid. Just think about all those people who got paid in large sums of BTC when they were worth less than a dollar. They're filthy rich if they held on to those bitcoins for long enough.

At 12/17/13 04:09 PM, Xenomit wrote: All these fake currencies make me mad

Why?

I dont understand why they would or should.

some random guy gave me like 5 dogecoins. right now it's not worth a lot (less than a penny) but one day it'll be worth $1,000 a piece and I'll buy like 5 new computers with it.

At 12/17/13 06:53 PM, Nor wrote:

At 12/17/13 04:09 PM, Xenomit wrote: All these fake currencies make me mad

Why?

I dont understand why they would or should.

Because they're taking the future of digital currency in the horribly wrong direction

At 12/17/13 07:19 PM, Xenomit wrote:

At 12/17/13 06:53 PM, Nor wrote:

At 12/17/13 04:09 PM, Xenomit wrote: All these fake currencies make me mad

Why?

I dont understand why they would or should.

Because they're taking the future of digital currency in the horribly wrong direction

digital currency seems kinda pointless to me unless you're going to use it for illegal activities. digital currency is probably going to become completely pointless soon with so many people attempting to make a new digital currency.

At 12/17/13 07:17 PM, xnaut0 wrote: some random guy gave me like 5 dogecoins. right now it's not worth a lot (less than a penny) but one day it'll be worth $1,000 a piece and I'll buy like 5 new computers with it.

DOGE doesn't have the potential to be worth as much as BTC because there's going to be lot more availability. The algorithm for DOGE caps at something like 100 billion, where the potential for BTC caps at far less than that. DOGE will never be worth that much, but you gotta think in terms of return percentage. If DOGE were to reach $1.00, it would be over a 1000% gain.

At 12/17/13 06:45 PM, Stretchysumo wrote: I would, because BTCs always go back up in value. I'd sell as soon as it hit a good high point and end up with more than what I should have been paid. Just think about all those people who got paid in large sums of BTC when they were worth less than a dollar. They're filthy rich if they held on to those bitcoins for long enough.

Bitcoins aren't worth anything unless you can find someone to buy them with cash, so they aren't rich if they're simply holding on to coins. And what determines a good high point? It's always going up until it doesn't. Your mindset here describes perfectly the mentality of people holding on to bitcoins. This is how bubbles form.

BTC is not a stock and I dont think it should be treated as one.

I dont think its bad and people should hate it tho

At 12/17/13 05:54 PM, Stretchysumo wrote: Imvestment. Bitcoins used to be worth small change. Now they're worth near $1,000 per BTC.

Yeah but who enforces what they're worth?

It's a pretty risky investment. It could be $1000 today, $800 next week, $1500 the next, then $10,000, then $500, then $1000, then tank to $0.

There is no gold/silver/etc backing it.
There is no world military backing it under pressures of we have big guns and you will accept this as currency.

It's even more bizarre to me that illegal transactions use it because you'd think those are the sorts of people that both really want their money secure and would screw business partners out of their money if they could.

It's like if all the criminals decided to use monopoly money, except almost no one but them accepts it as payment. It just makes no sense why they would accept it as payment in the first place. You can't buy a house with it. You can't buy a car with it. You can't buy food with it. Good luck finding any merchants that accept it at all.

At 12/17/13 07:27 PM, Feoric wrote:

At 12/17/13 06:45 PM, Stretchysumo wrote: I would, because BTCs always go back up in value. I'd sell as soon as it hit a good high point and end up with more than what I should have been paid. Just think about all those people who got paid in large sums of BTC when they were worth less than a dollar. They're filthy rich if they held on to those bitcoins for long enough.

Bitcoins aren't worth anything unless you can find someone to buy them with cash, so they aren't rich if they're simply holding on to coins. And what determines a good high point? It's always going up until it doesn't. Your mindset here describes perfectly the mentality of people holding on to bitcoins. This is how bubbles form.

That's very easy. There's a ton of BTC exchanges on the web and even many currency exchanges deal with BTC now. I don't think you understand how big this has gotten.

At 12/17/13 07:29 PM, Nor wrote: BTC is not a stock and I dont think it should be treated as one.

but I dont think its bad, and people shouldnt*** hate it.

Whoops, fixed

At 12/17/13 07:30 PM, Stretchysumo wrote: That's very easy. There's a ton of BTC exchanges on the web and even many currency exchanges deal with BTC now.

How many of them are professionally regulated? Zero. I'll just link you to this post of mine. Besides, this doesn't answer my question (read the last paragraph). What decides a high point in your book? If the price is always rising why would you sell now instead of later?

I don't think you understand how big this has gotten.

I understand perfectly well how big it has gotten, and how much room there is to fall.

At 12/17/13 07:40 PM, Feoric wrote:

At 12/17/13 07:30 PM, Stretchysumo wrote: That's very easy. There's a ton of BTC exchanges on the web and even many currency exchanges deal with BTC now.

How many of them are professionally regulated? Zero. I'll just link you to this post of mine. Besides, this doesn't answer my question (read the last paragraph). What decides a high point in your book? If the price is always rising why would you sell now instead of later?

I would sell as soon as there's a decent rise in price (like $50 - $100per even), because I know it's like gambling and that it fluctuates insanely. It's not regulated by people, but that's the point of why it came to be in the first place.

I don't think you understand how big this has gotten.

I understand perfectly well how big it has gotten, and how much room there is to fall

It's a risk/reward thing. Buying BTC at this point in time is risky because they fluctuate between possibly hundreds in value per month. That's why litecoins are gaining steam and things like dogecoin are being made. People saw the BTC boom and everyone doesn't want to miss out on this new way of making potential loads with CC mining/trading.

I still stand by my statement, and I will say again, all these digital pseudo currencies are fucking retarded

I sincerely hope everyone who invests their precious time, money and energy into these pieces of absolute shit, loses everything they put into it and more, it's entirely what they deserve for making people think that it's the right way to go further into the digital age

At 12/17/13 11:30 PM, Xenomit wrote: I still stand by my statement, and I will say again, all these digital pseudo currencies are fucking retarded

I sincerely hope everyone who invests their precious time, money and energy into these pieces of absolute shit, loses everything they put into it and more, it's entirely what they deserve for making people think that it's the right way to go further into the digital age

They aren't retarded as a whole, but just the name Dogecoin shows what kind of retardan ass lel 4chan people go around starting another cryptocurrency of little worth.

At 12/17/13 07:19 PM, Xenomit wrote: Because they're taking the future of digital currency in the horribly wrong direction

Would you mind pointing everyone in the right direction, then?

I'd love to hear what you have to say about how we should approach virtual currency.

Go on, then.

Enlighten us.

At 12/17/13 11:44 PM, Piggler wrote: Go on, then.

Enlighten us.

Where did I say I knew the right way? I didn't. And I don't.

I just know that this is the wrong way.

At 12/17/13 11:44 PM, Piggler wrote:

At 12/17/13 07:19 PM, Xenomit wrote: Because they're taking the future of digital currency in the horribly wrong direction

Would you mind pointing everyone in the right direction, then?

I'd love to hear what you have to say about how we should approach virtual currency.

Go on, then.

Enlighten us.

I'm not sure what he had in mind, but I would think "the right way" would include some sort of value enforcement, like traditional currencies have. Some means to actually enforce what it is worth rather than just pure speculation.

At 12/18/13 12:35 AM, NeonSpider wrote:

At 12/17/13 11:44 PM, Piggler wrote:

I'm not sure what he had in mind, but I would think "the right way" would include some sort of value enforcement, like traditional currencies have. Some means to actually enforce what it is worth rather than just pure speculation.

That's one of the things.

We can't replace all currency with a currency that's so unrealistically unstable. If bitcoin were to become the global standard, how in the fucking hell do you propose we actually use it when 1 unit of it can be worth anywhere from $1 to 10,000 dollars at any given moment? It's retarded as fucking shit, and the fact alone that people are saying that bitcoin is the future of currency makes me want to choke babies and set off a few nukes here and there around the world for how goddamn retarded humanity has become. It's the main reason I hate it and all its shitty offspring so much.

It'd be like saying "Hey guys, lets all use google's stock as the global currency", except there isn't even a corporation behind it, you're literally buying and trading with a bunch of 1's and 0's that have absolutely zero value beyond the fact that there are people fucking stupid enough to put their faith in it.

At 12/17/13 11:30 PM, Xenomit wrote: I sincerely hope everyone who invests their precious time, money and energy into these pieces of absolute shit, loses everything they put into it and more, it's entirely what they deserve for making people think that it's the right way to go further into the digital age

All the people who are currently acquiring doge coin arent putting any money. It would be really stupid to at this point. They are mining it. No money spent there, just energy.

No ones loss if all you do is mine and wait for it to be worth more to get something out of it.

Also no one, not even miners think this is "the way to go," they are just doing it for some "currency."
They arent screaming "THIS IS THE WAY OF THE FUTURE," because its probably not.

I dont know why you are so chagrined about this

At 12/18/13 01:38 AM, Nor wrote: All the people who are currently acquiring doge coin arent putting any money. It would be really stupid to at this point. They are mining it. No money spent there, just energy.

And energy is free? Also, I'm not talking about specifically this one, I'm not even worried about this one because no one will ever even hear about it, I'm mostly talking about shitcoin and it's ripoffs.

Also no one, not even miners think this is "the way to go," they are just doing it for some "currency."
They arent screaming "THIS IS THE WAY OF THE FUTURE," because its probably not.

You'd be surprised at how many people are saying it's the way of the future

In fact, a few people on NG have said it was

I dont know why you are so chagrined about this

Because it's stupid as fuck, and it's a growing testament to the absolute retardism of humanity

I wanna buy drugs on the deep web. Get me there!

Can some of you lighten the hell up.

If people want to waste a few dollars on a meme, so what.

Far as I can see it isn't doing any harm, even if they lose their money in the long run. They know the risks.

At 12/18/13 02:14 AM, Xenomit wrote:

And energy is free? Also, I'm not talking about specifically this one, I'm not even worried about this one because no one will ever even hear about it, I'm mostly talking about shitcoin and it's ripoffs.

You mentioned three things, ad it was only actually one.
I assume when you say shitcoin you mean bitcoin. Cryptocurreny as a concept has been around longer than bitcoin itself, so the others not really rip offs.

You'd be surprised at how many people are saying it's the way of the future

In fact, a few people on NG have said it was

They've all said it sarcastically or to get people like you mad lol

Because it's stupid as fuck, and it's a growing testament to the absolute retardism of humanity

How is it so stupid? If you are going to take it as seriously as you do then maybe its just not for you lol.
Its not a testament to anything, I still dont get how something so irrelevant to you can get you this mad.

At 12/17/13 11:15 PM, Elitistinen wrote: Oh because you understand so much about currency! USD (or any paper currency) probably never been used by criminals, money laundering, counterfeit, contraband,illegal content, e.g. drugs, hitman, child pornography... to quote your stupidness. Right?

to quote my stupidness? I didn't even say anything along the lines of "non-digital money is never used to buy drugs, child pornography, and hitmen."