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Does anyone still mess with bitcoin?
Posted on 3/17/17 at 1:26 pm
Posted on 3/17/17 at 1:26 pm
My brother has some and is wanting to cash out. How would he go about this?
2
Posted on 3/17/17 at 1:46 pm to RBWilliams8
If he has bitcoin he should know how to cash out. Easiest go to is coinbase.com
Posted on 3/17/17 at 2:04 pm to RBWilliams8
Nine Dragons chinese food in Baton Rouge accepts bitcoin 
I'm not even kidding
I'm not even kidding
Posted on 3/17/17 at 2:05 pm to DirtyMikeandtheBoys
I remember thinking about doing bitcoin years back but my better judgment always said "the whole world's establishment will never allow this to succeed!". It appears that's true in 2017. It's all but dead, right?
Posted on 3/17/17 at 2:22 pm to DoubleDown
It was the highest its ever been the other day
Posted on 3/17/17 at 3:35 pm to DoubleDown
Right now it's at about $1116/Bitcoin which I would not consider to be flailing considering that's up a lot from a 5ish years ago anyways. The stories about bitcoins have died down and it's getting less attention though.
Also that's hilarious nine dragon take Bitcoin, I had no idea. If I had bitcoins I would definitely use them there
Also that's hilarious nine dragon take Bitcoin, I had no idea. If I had bitcoins I would definitely use them there
Posted on 3/17/17 at 3:37 pm to colorchangintiger
He got some as part of a deal with a purchase. He said there's a lot of fake sites that take your money and he really just wants a reliable site.
Posted on 3/17/17 at 6:57 pm to RBWilliams8
Coinbase is legit
Posted on 3/17/17 at 9:08 pm to DoubleDown
Bitcoin still has its uses. It's really taking off in Venezuela right now.
The electricity required to perform the computations that mine bitcoins is what gives it scarcity. The socialist government of Venezuela heavily subsidizes energy costs for its people, so people are setting up mining operations to basically convert that electricity to bitcoin.
Electricity is unfortunately scarce in Venezuela and the government has been rationing it. Now the government is keeping tabs on energy consumption per person and raiding those who are abusing it for bitcoin mining. So people are secretly setting up mining operations in industrial zones where electricity use is not as restricted.
Add the fact that the Venezuelan bolivar is now in a hyperinflation tailspin and you have a formula that is ripe for people to adopt bitcoin.
The electricity required to perform the computations that mine bitcoins is what gives it scarcity. The socialist government of Venezuela heavily subsidizes energy costs for its people, so people are setting up mining operations to basically convert that electricity to bitcoin.
Electricity is unfortunately scarce in Venezuela and the government has been rationing it. Now the government is keeping tabs on energy consumption per person and raiding those who are abusing it for bitcoin mining. So people are secretly setting up mining operations in industrial zones where electricity use is not as restricted.
Add the fact that the Venezuelan bolivar is now in a hyperinflation tailspin and you have a formula that is ripe for people to adopt bitcoin.
Posted on 3/18/17 at 2:10 am to efrad
Yea you just explained the perfect rationale as to why that hippie money will never succeed. Get a real job with real earnings and stop trying to pull a fast one.
Bitcoin, to me, reminds me of gold investors. Gold is "such a premium" yet the people selling it are so amazingly willing to accept cash. Weird how that works...
Bitcoin, to me, reminds me of gold investors. Gold is "such a premium" yet the people selling it are so amazingly willing to accept cash. Weird how that works...
Posted on 3/18/17 at 7:24 am to DoubleDown
Its actually an awesome concept.
Posted on 3/18/17 at 8:47 am to DoubleDown
quote:
Yea you just explained the perfect rationale as to why that hippie money will never succeed. Get a real job with real earnings and stop trying to pull a fast one.
Bitcoin, to me, reminds me of gold investors. Gold is "such a premium" yet the people selling it are so amazingly willing to accept cash. Weird how that works..
You really nailed it here too:
quote:
remember thinking about doing bitcoin years back but my better judgment always said "the whole world's establishment will never allow this to succeed!". It appears that's true in 2017. It's all but dead, right?
Posted on 3/18/17 at 9:07 am to DoubleDown
quote:
Gold is "such a premium" yet the people selling it are so amazingly willing to accept cash.
Berkshire Hathaway stock is such a premium, yet people selling it are so amazingly willing to accept cash.
Fine art is such a premium, yet people selling it are so amazingly willing to accept cash.
Tech unicorns are such a premium, yet people selling them are so amazingly willing to accept cash.
Professional sports teams are such a premium, yet people selling them are so amazingly willing to accept cash.
Like everything in life, it's making a bet on the future. Is gold/bitcoin/stock going to be worth more or less tomorrow/next month/next year?
Posted on 3/19/17 at 12:29 pm to DoubleDown
quote:
Yea you just explained the perfect rationale as to why that hippie money will never succeed. Get a real job with real earnings and stop trying to pull a fast one.
It's a fricking socialist country. There are no "jobs." There are only breadlines and starvation.
If my only options are to watch my family starve to death or exploit cheap electricity to create wealth, I'm going to pick the latter.
quote:
Bitcoin, to me, reminds me of gold investors. Gold is "such a premium" yet the people selling it are so amazingly willing to accept cash. Weird how that works...
The price of bitcoin has been rising, which means that people are willing to accept less cash for bitcoin than they have before. That's not to say that the bubble won't burst (it probably will), but saying that people are willing to accept cash for it so it must not be good is being way too simplistic. There are many other factors at play.
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