[a / b / c / d / e / f / g / gif / h / hr / k / m / o / p / r / s / t / u / v / vg / vr / w / wg] [i / ic] [r9k / s4s / vip / qa] [cm / hm / lgbt / y] [3 / aco / adv / an / asp / bant / biz / cgl / ck / co / diy / fa / fit / gd / hc / his / int / jp / lit / mlp / mu / n / news / out / po / pol / qst / sci / soc / sp / tg / toy / trv / tv / vp / wsg / wsr / x] [Settings] [Home]
Settings Home
/vip/ - Very Important Posts

4chan Pass users can bypass this verification. [Learn More] [Login]
Draw Width Height
  • Please read the Rules and FAQ before posting.

05/04/17New trial board added: /bant/ - International/Random
10/04/16New board for 4chan Pass users: /vip/ - Very Important Posts
06/20/16New 4chan Banner Contest with a chance to win a 4chan Pass! See the contest page for details.
[Hide] [Show All]

RIP Stephen Hawking 1942-2018 🙏

Janitor acceptance emails will be sent out over the coming weeks. Make sure to check your spam box!

File: Bitcoin.png (5 KB, 128x128)
5 KB
Does anyone want to discuss cryptocurrencies?

There's so much shilling and shitposting on /biz/ that having a barrier to entry might inspire a better discussion.
File: DMfTpW1WkAE9wV8.webm (180 KB, 498x278)
180 KB
the only ones i'm more than a tiny bit invested in any more are ripple and ark.
ark because i think their plan is pretty solid, and they seem like good people. so i think the coin is going to go places. already made a penny on that because i got in pretty early, but i'm going to hold that for the long run.
ripple mostly because i had a friend who was trying to get me into it and hes really into it. i don't think deep down that its going to ever go more than $1 or so, because of how much ripple is out there, but even if it hits $1 i'll make some money.
the rest... i got rid of my ether a while ago (still have a little but not that much), never got that big into bitcoin but i should of back in the day. easy come easy go.
and i have a bit of pivx but idk why i really got into pivx.
t. random scrub who doesnt have much money in any of these.
File: 1496373734677.jpg (46 KB, 682x615)
46 KB
I don't know anything about cryptocurrencies but I would like to discuss them? Can anyone provide a brief 101 about them?

>in b4 "google it fag"
Google it fag and then explain it to me.
my strategy is:
(aka the greentext guide to crypto):
>somehow hear about a particular crypto (internet, friend, whatever)
>google it
>read some news articles about it
>if theres no news articles ignore it
>find out if they have some kind of long term plan
>find out if they are talking to banks
>find out roughly the amount of a particular coin that exists in the wild and see how it compares to say ether and bitcoin to see if that coin hitting those levels of money is likely. i.e. if theres 100000x as much of Xcoin as bitcoin, its unlikely to hit bitcoin prices. you need to think about this kind of stuff.
>find out if they have screwed anyone over
>that means anyone on the team who is higher up
>check their subreddit
>is it cool?
>find out about their wallet or whatever they have
>if it all checks out, buy a bit of it, depending on how financed i feel that day
>hold onto it for the long term because i'm only interested in long term crypto investments
>btw add it to this app called blockfolio which just tracks your investments
then i ignore it for a few months, check blockfolio every so often, if it went down thats cool just hold onto it. if you really did the research then you know that long term there are goals and a plan to become something in the market more than just a meme coin. thats about it. ignore it for as long as you can stand. i've only really cashed out coins that have hit the point where i can recoup my initial investment and then either a) pocket the money or b) put it into that same coin again or a different crypto.
i think short term thinking is bad. just hold things for the long run and don't dump your coins just because they drop for a bit. often things drop for a bit when bitcoin or ether or whatever swells, because people want to hop on them.
>sold at around 4k for a decent gain
>over 6k now

What a ball buster, I should have known too. It was being kind of sporadic for a time but BTC has always bounced back huge.
Does anyone actually use a credit card to buy a 4chanpass?
No one ever regrets buying bitcoin. They only regret selling.
Holdin pretty heavy Tokencard bags right now

They need to get that MVP out and start marketing or they're toast, other cryptocards beating them to market already but I believe in the concept and there will be many people using these cards by next year, whoever ends up issuing them
I'm not smart enough to invest well, so I just buy Bitcoin, Ethereum, Dash and Litecoin every month. Don't even know what to do when it comes time to sell out
Most of them are complete garbage, coins like Bitcoin and Ethereum are decent, but there's limited money to be made in them now. So people tend to gamble with coins that have no real future but if you time it right can make you a lot more money, but you can also lose everything as /biz/ is finding out right now.
Funfair is my favourite aside from Bitcoin, ETH and Monero as the big guns. It genuinely makes casinos provably fair with the smallest possible cost to start whatever casino games on their platform as a one-time transaction instead of having to pay fees for each spin/roll/etc.
So it's like an off-chain gambling platform in the same way 0x is like an off-chain exchange platform?
File: 1489375761708.jpg (2.15 MB, 1012x3021)
2.15 MB
2.15 MB JPG
Pretty much. This lets their platform's specialty "Fate Channels" (which are similar to state channels) only require a nearly non-existent cost to start running the games without any further transactions except for placing bets. Pic related does a pretty good job at explaining it's strengths.

As for other projects with potential, it looks like Power Ledger could be a keeper since their chairman is the mayor of a city in Perth, Australia and they'll be showing off at CES in January. Another project I'm not in yet (it won't be out for another few months) and reluctant to mention, but it could genuinely make IOTA redundant. Hints: It's been in the works for years now, there won't be an ICO and it's had a name change during its development. One article on Medium has mentioned it, but kudos if you figure it out.
the bubble is going to burst eventually,
if you already made a profit be grateful.
It's been about to burt for 2 years now, it has to go down at some point, but who knows how much more it's going to go up until then.
I went all in chainlink
File: 1505453289855.jpg (159 KB, 1173x1317)
159 KB
159 KB JPG
$1 by 2018
i use bitcoin as an actual currency to pay for my online things
File: linkies.jpg (102 KB, 512x498)
102 KB
102 KB JPG
>I went all in chainlink
File: 1509380933977.png (302 KB, 920x560)
302 KB
302 KB PNG
>sold my LTC at $72

a word of caution to all bitcoin traders
we are approaching a very significant round number in yen/BTC (1,000,000)

chances are we will see some hard rejection here just like we did at 500k over the summer

long term it is meaningless but short term there WILL be dips.
File: lauging anime girl.gif (1.38 MB, 400x225)
1.38 MB
1.38 MB GIF
gj, actually
me too. what are you using? openbazaar? bitify?
>No one ever regrets buying bitcoin. They only regret selling.
yep. Only times i sell are right before forks/when its overly inflated.
last (aborted) hard fork I sold off around 7400 and bought back in at 6600... wasnt bad, but I coulda sold off at 8000 and bought back in at 5800 if I had a delorean time machine or future-sight... oh well
Thing is, we don't know how bitcoin is going to pan out. Things are still so uncertain with it. I lost a lot of money when I stopped visiting coin sites for a time and BTC-e was taken down, taking my coins with it as the period of time I was away was longer than the window for refund.
Still a lot of legal shit going on with it. There are a lot of people who think getting into bitcoin is equivalent or near equivalent to supporting crime.

Also, I'm not so sure about that "no one regrest buying bitcoin". It entered a period of stagnation a while back that could easily cause regret for those who bough too late and had to hold for so long.
namecheap, gandi, and bitcoin vps providers
>Things are still so uncertain with it
im certain about it.
bitcoin will be stable and profitable until a machine is designed which can crack 256 bit elliptic curve cryptography
Here's too hoping I don't pull too many Jontron's in this response.
I employed something almost like a quantity over quality approach here because I felt like it illustrates an important aspect of what we're discussing that I don't feel like actually trying to explain right now.

...Or until a large portion of its userbase loses trusted and reasonable means to exchange it due to overstepping of various high-profile entities (e.g. various segments of the U.S. government system) thereby causing a drop so devastating that it's basically unrecoverable.

BTC also faces potential competition from official currencies going digital with their own systems, potentially dropping the whole muh security thing at least for some people, which could lead to a chain reaction.

Then there's the issue of adoption. If events transpire which lead to BTC actually getting adopted as a currency by a group long enough, it will decrease the value of BTC as the BTC cost of the goods and/or services increases (in other words, inflation). We don't know how people will react to this either; it will turn BTC into an actual game of foreign exchange where you have to beat out inflation to make any profit and success is much more confusing and difficult.

I can keep going.
You are naive to think there's no possibility for BTC to be unprofitable for a time.
I haven't even really brought up the various ways that hacking of the exchanges can influence BTC nor the issues of BTC ransomware and theft being in part a by-product of security.
As long as human beings are fallible, BTC is fallible. It's too early for people to feel completely confident in bitcoin and that confidence can be swayed.
That being said, I do believe in bitcoin but we must be prudent and aware of the risks.
>Can anyone provide a brief 101 about them?

There are a lot of different cryptocurrencies out there. The most popular and the one that basically started the trend is bitcoin (BTC). Second to bitcoin is litecoin (LTC) and the third most popular, as well as the youngest, is ethereum (ETH). Not completely sure how etheruem works; I'm not even sure it technically qualifies as a coin. Something about contracts.
LTC has the advantage of people trying very hard to keep it stable. ETH generally has the advantage of simply being different.
Different cryptocurrencies work in different ways and I really only know a lot about BTC (the most important coin) and BTC is like the USD of altcoins, so I'm focusing on that.

BTC is created by a process known as mining, which mimics actual mineral mining. People try and mine the coins with crazy supercomputers. Gotta be absolute top of the line for this shit.
These computers compete with each other to solve long math problems. The first to solve all the problems earns BTC.
The difficulty of these math problems are then basically added to the overal difficulty of trying to hack into BTC directly, so its impossible for even the fastest computer to fuck with BTC at a base level; It would take an unfathomably long time. This is part of why BTC can have worth; BTC cannot be forged.

To receive BTC outside the exchanges, you use a wallet address. This address can be pasted as text into basically any text form you want that doesn't detect as spam or something.
The person sending the BTC would then copy the address into whatever program they're using to send BTC, enter the amount of BTC to send and confirm.
Voila. Transaction done. These transactions cannot be reversed, furthermore, you can make any number of wallet addresses you want. If you're careful, these addresses can be completely disassociated from one another and used for only a single transaction if you want before you make a new one. So people like that. (1/2)
Actually, I'm not going to finish. I'm sorry to say this, but it just takes too long to explain.

Essentially, BTC are worth something because people love money, love security and are curious where it will go.
People like BTC because it's easy to get into and produces mutual profit for everyone if done right.

That being said, it's a bit of a gamble, so I'd recommend you go with an amount you can stand to lose; The potential for gain is great enough that if you just do like $10 or something the potential profit is worth the potential lose.

I use Kraken and Coinbase; Coinbase makes it very easy to buy BTC and I'm not sure how else to really do it without providing crazy levels of verification.

Currently having doubts about Kraken personally... coinbase has high transaction fees, but they're not really suspicious.
And whatever you do, do NOT become reliant on bitcoin. Only throw money at it that you are willing to waste.
Litecoin isn't close to Ethereum when it comes to interest and usage, if there's one thing you need to learn quickly it's to stay away from worthless Bitcoin clones like Litecoin. Only the market values them, and outside of speculation they have no future.
I should've mentioned I'm also pretty outdated about altcoins. I only buy a tiny bit to buffer things out a little.
Outside of 3 or 4, every alt is just someone else's plan to get more Bitcoin, so unless you have a time machine to go back and buy something like Ethereum when it was $10, you should probably stay away from all of them.
>overly inflated
How are you even supposed to tell that?
If you didn't pay for your 4chin pass using bitcoins you are an fag.

and no, it's not too late to go all in - at every instance in which I bought, I thought it would be TooLate(tm), but it keeps going up and up. marketfags who think they can predict anything are wrong, just fucking go for it and join this wild and crazy ride.
That's stupid. BTC has definitely increased in popularity now, which isn't actually a very good thing. It will create a bubble because people don't know what they are doing.
They don't understand that its a store of value and cannot work as a currency.

Today, I walked past a group of kids procrastinating studying to make moves with BTC.
Its terrible. They're going to buy and hold. I hate to say it, but we're fucking done.
Nobody is going to understand how BTC should work. I guess I should've expected that.
I think I might actually be the only person who sees a purpose in BTC that doesn't involve it being valued on its own and not against fiat.
Sell enough to make off with a profit while you can and hold just a few through the ride.
That's all I can say. This shit is getting real now. I've never felt it get this real until now.
Crypto is a bubble, it's all about can I sell it for more? There will be some remnants though I believe. Primarily game based tokens. But honestly there's so much money to be made in it if you know what you're doing that I doubt it will ever go away. It will just experience a cycle like all markets do. But then again... I could be completely wrong and old financial models don't apply to this magic money and it will rally to 1m in a few years.
But I think... People know BTC, they know they can use it with a little more security and, if I"m not mistaken, a little more way to prove exchanges when need be.

I'm thinking that once/if this craze ends, BTC might really start to become a currency or a relatively reliable store of value.

Personally, I think what we're saying in the long charts is that crypto experiences a cycle of turning into a bubble, crashing but keeping an overall increased floor value which stabilizes because most of the users left are the ones who want to use it as tools (regardless of whether that's a good use or not), then it bubbles again.
So its kind of like an overlay of whatever the niche people mostly do together with the massive get-rich-quick people.
I'm not sure how long that pattern will continue. It almost feels like it could keep continuing indefinitely, but I just don't know.

I have a fairly dubious hunch that we've never had any market like crypto before, but I don't know enough to be sure.
One thing I will say though, its a fucking shame we can't keep the rick from getting in now that they're starting to take notice.
To be frank, those people are run against what people who believe in crypto seem to want. They don't want people to make money easily; It devalues their power. Crypto was something like an easy-to-get-in loophole that they overlooked.
I'm really concerned.
Watching Litecoin price will turn me bipolar
cashed out 2 btc at about 16k a few weeks ago, initially invested 3k.
feels good man
Just bought a little bit of litecoin. Only 2 shares though. I want to see what happens to it.

Only telling you think because we are /vip/
File: 1504383268237.png (41 KB, 400x416)
41 KB
File: 1503670801151.jpg (213 KB, 1440x1440)
213 KB
213 KB JPG
word on the street is ripple is going more public next year via coinbase hosting early next year. strongly recommend investing in ripple as soon as possible.

also, i own 1.75 litecoins and im gonna sit on that. 600 more days til the next halfing, speculated pricing to go up in about 400-500 days. currently sitting around 200-250, invest asap.
Going to bite the bullet and buy some ripple.
Every time I think the rise is over another coin bumps the market cap up another 50 billion.
Is it worth buying a little coin as a hobbyist or should I go all in?
You shouldn't go all in until you've at least done some research on Bitcoin and the crypto currency market as a whole.

There are so many scams if you don't have some knowledge you're likely to buy into scams or projects that will inevitably fail, like most of /biz/. Stick to the major coins first, and only branch out when you'd be comfortable putting 2-3x what you currently have in the market, because you're going to lose money at some point.
Same anon here. Still waiting on my verification and I'm fucking pissed that Ripple is getting all these gains without me.
>be a /biz/oldfag
>go on to /vip/
>they have a crypto thread that's 2 months old and still alive
holy fuck, also get on my level goys
/biz/ oldfag and you're not a millionaire?
if you were actually an oldfag you'd know how hard it is it is to make and/or keep a million dollars. but I'm gonna hit 300k tonight and it's all low risk, so there's that.
Only 2 years ago that 300k would have been less than $3k, It's not difficult at all for someone to have hit 7 figures today had they not invested late.

I think you have a warped idea of what an "oldfag" is.
just be glad you dodged the bullet
File: Untitled.png (75 KB, 1535x907)
75 KB
>not a scam they said
Only true idiots fell for the BitConnect ponzi scheme. YouTube shillers for it will probably face some lawsuits or investigations just down to how much money people have to waste to punish these people now.
>crypto is a bubble and its going to burst
>crypto is a bubble and its going to burst
>crypto is a bubble and its going to burst
>crypto is a bubble and its going to burst
>crypto is a bubble and its going to burst
>crypto is a bubble and its going to burst
etc. etc.

don't listen to actual literal nocoiners who don't want crypto to succeed because they're scared of new tech (which bitcoin isn't at this point) so they say its a bubble and grumble about how its all going to go to 0 dollars and nobody should buy it except ripple because thats supported by the banks and we can trust the bank fellow human!

honestly cryptocurrencies are the future nearly all of the info in this fucking thread is wrong or skewed even my own. DYOR and buy BTC. and for the love of god don't spend your money on XRP aka Ripple its not crypto its a scam coin. look up ETH, BTC, BCH, REQ, FUN, XLM, NEO

you can get BTC, ETH, BCH, LTC (don't get LTC) off of a site called coinbase. its for normies like you. get comfortable with reading white papers for everything you buy. and remember Buy High Sell Low
What's your prediction for BTC's price to rise up to this year after recovering?
should probably also avoid bch/bcash/"bitcoin cash" until there's more clear direction on what bitcoin is doing. right now its just a political fork with some very untrustworthy people trying to take advantage of the split for their own personal gain.
File: 1516482204549.jpg (65 KB, 600x600)
65 KB
who /mining stinky linkies/ here??
Delete this
File: no nolinkers.png (48 KB, 1000x800)
48 KB
dat crash
File: tegaki.png (4 KB, 400x400)
4 KB
i'm suddenly really glad i never got into this
It's not like there wasn't tons of sources saying bitcoin was a volatile stock and investing in it is dumb. People only have themselves to blame.
It's very volatile and very risky in the short term, but even after this massive crash the price is still higher than when this thread was started.
Back then in 2012-2014 bitcoin's growth was motivated by silk road and a few others

Nowadays they are mostly purely speculative commodities with no actual usage whatsoever

I personally don't see a way for cryptos to go beyond digital tulips unless government/banks are willing to back them up (which certainly isn't happening anytime soon)
>back them up
with what? banks and governments have absolutely nothing to back real value with. fiat is a ponzi.
Its going to 4k min
we'll see.
Will bitcoin ever go back up to 16k like it was last month?
20k by end of month. Screencap this.
I can't believe it's not dead already. Bitcoin's shit compared to all the other alternative coins. If the shills manage to pump it that much, I'll be surprised.
hows it going shillfag. I can literally identify you just by how often you talk about shills on /biz/, to the point you're not even anonymous anymore. Try shutting up for like 5 minutes.
I don't even go to /biz/ you fucking sperg.
File: 1517508695869.jpg (211 KB, 730x783)
211 KB
211 KB JPG
Just reading this thread makes me feel hopeful about the future, we have a long time before mass adoption considering even on 4chan nobody knows what they're talking about.
icx is bleeding
>want to get into bitcoin mining two years ago
>most websites said bitcoin mining had peaked and wasn't worth pursuing anymore
>should mine some other coin like dogecoin instead
>GPU prices have now spiked because bitcoin mining is insanely popular for some reason

I got Jewed, didn't I?
I decided to legitimately start mining dogecoin. It took some 10 hours to synch to the network at least >.>
id try some of those cryptonote coins
I think monero is the smartest bet in crypto. The only practical use of crypto today (other than as an investing platform) is buying drugs and other illegal shit. The darknet markets are beginning to shift from BTC to monero, because monero transactions are private and documents from the AlphaBay and Hansa raids showed blockchain analysis was at least partially responsible for the takedowns of those sites. Monero isn't reliant on speculation and hype because it has a real-world use, so I'm very confident in it long term
monero is good for now, but privacy moves fast, and ring signatures are already looking old. its great as a utility but long term i dont see how it will deal with new privacy innovations that it cant simply fork and add, the same way bitcoin cant.
What sort of privacy methods are looking like they'll replace ring signatures?
if anything i think it will be an entire new class of more mathematically based privacy tools. right now monero is a glorified mixer, because up until a year or so ago there wasnt even a better way of making private transactions. then they added confidential-transactions, meaning even the values were hidden, but it's still based on every transaction being "mixed" with 6 or more other inputs. including fake ones.

zero-knowledge proofs are the first major improvement on mixing based privacy, but right now they're just not ready, and require too many magic values and trust to get working, but we're seeing good research in that space to remove that required trust.

but eventually we are going to need a more mathematical way to create private transactions, because while monero's way is the best we have today, it's very resource demanding, both on size and resources required to scan the blockchain for outputs. and the real issue is just like bitcoin isn't going to be able to add privacy to their base layer easily, when we move away from mixer based privacy monero is going to have an equally hard time keeping up.
Fun Fact: Bitcoin is still $3,000 higher today than when this thread was started.

Delete Post: [File Only] Style:
[Disable Mobile View / Use Desktop Site]

[Enable Mobile View / Use Mobile Site]

All trademarks and copyrights on this page are owned by their respective parties. Images uploaded are the responsibility of the Poster. Comments are owned by the Poster.