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Message
re: Joining the bitcoin parade
Posted on 2/3/14 at 3:01 pm to Jwodie
Posted on 2/3/14 at 3:01 pm to Jwodie
quote:
Suffice to say that your recommendation to people starting in bitcoin is not to view it as a stock or short-term investment but more so a long-term potential builder of wealth (if of course things play out as you and supporters predict)?
I don't really have a recommendation. Some people use it as a store of value, some people use it to day trade, some people use it for purchases. I feel all of those are valid uses.
1
Posted on 2/3/14 at 3:02 pm to WikiTiger
quote:
hold those bad boys for 4 years. you'll be a happy man
quote:I see you're still trying to cover your arse and have it both ways....
I don't really have a recommendation.
Posted on 2/3/14 at 3:04 pm to LSURussian
quote:
LSURussian
give me a brief description of your issue with it. I'm on the fence here about it. Would love to hear both sides.
Posted on 2/3/14 at 3:07 pm to Geauxld Finger
quote:It's more of a political statement by the paranoid anarchists than it is any type of financial instrument. A fad. It's an internet version of Beanie Babies. That's all. It will die a quick death when it collapses.
give me a brief description of your issue with it.
Posted on 2/3/14 at 3:08 pm to LSURussian
quote:
It's an internet version of Beanie Babies
some people made a shite ton of quick money in BB though
Posted on 2/3/14 at 3:09 pm to Geauxld Finger
quote:And a lot of people lost all their money.
some people made a shite ton of quick money in BB though
Posted on 2/3/14 at 3:10 pm to Geauxld Finger
quote:
some people made a shite ton of quick money in BB though
...and some have made a shite ton of quick money in bitcoin. Just don't be the one who has to turn out the lights.
Posted on 2/3/14 at 3:11 pm to OnTheBrink
quote:
and some have made a shite ton of quick money in bitcoin. Just don't be the one who has to turn out the lights
can be said for any investment really. Look at what happened when Krispy Kreme went public. That shite blew up and made people wealthy overnight. Then like 6 months later i think it halved it's share price when people found out that if you ate too many doughnuts, you were fat. Shocker
Posted on 2/3/14 at 3:12 pm to Geauxld Finger
quote:No, it can't.
can be said for any investment really.
Posted on 2/3/14 at 3:12 pm to LSURussian
quote:
can be said for any investment really.
No, it can't.
for many things with as much unknown as this
Posted on 2/3/14 at 3:13 pm to Geauxld Finger
quote:
give me a brief description of your issue with it. I'm on the fence here about it. Would love to hear both sides.
It is backed by the full faith & credit of an anonymous computer programmer from Asia and his minions of Warcraft & D&D buddies. And the Winklevoss twins.
That said next time it crashes I'm jumping in, I usually blow a few thousand on penny stocks a year anyways
Wiki - if I buy a few of these things there's a way to completely remove my wallet from internet and store on a flash correct?
This post was edited on 2/3/14 at 3:15 pm
Posted on 2/3/14 at 3:14 pm to Geauxld Finger
quote:=/=
for many things with as much unknown as this
quote:
can be said for any investment really.
Posted on 2/3/14 at 3:17 pm to LSURussian
Let him have this day. It's all he has.
Posted on 2/3/14 at 3:18 pm to LSURussian
quote:
I see you're still trying to cover your arse and have it both ways....
Remember when he said he wouldn't recommend anyone buy bitcoin. And now he takes credit for a 6500% gain? I love it.
Posted on 2/3/14 at 3:20 pm to ItNeverRains
quote:
Wiki - if I buy a few of these things there's a way to completely remove my wallet from internet and store on a flash correct?
yes, but I wouldn't store it on flash media. it's a highly unreliable storage media
If you want to do cold storage, the easiest way to do it is to just generate a private and public key pair on a computer that has never been connected to the internet, then print the private key and put it in a safe (and perhaps store a copy in a safe deposit box at a bank or a trusted family members house -- but at least have 2 copies so you don't lose it to fire)
then, when you finally get your bitcoins, simply have them sent to the public key of the address you have in cold storage. the bitcoins will be secure.
Posted on 2/3/14 at 3:24 pm to WikiTiger
quote:
If you want to do cold storage, the easiest way to do it is to just generate a private and public key pair on a computer that has never been connected to the internet, then print the private key and put it in a safe (and perhaps store a copy in a safe deposit box at a bank or a trusted family members house -- but at least have 2 copies so you don't lose it to fire)
then, when you finally get your bitcoins, simply have them sent to the public key of the address you have in cold storage. the bitcoins will be secure.
WAT
Posted on 2/3/14 at 3:25 pm to Geauxld Finger
quote:
WAT
i could literally do all that in 5 minutes
Posted on 2/3/14 at 3:26 pm to WikiTiger
its just a ton of lingo i'm not at all familiar with
Posted on 2/3/14 at 3:27 pm to Geauxld Finger
quote:
its just a ton of lingo i'm not at all familiar with
what part confuses you? the private key public key part? if so, that's the essence of bitcoin. i can explain it but won't go into it unless you want me to
Posted on 2/3/14 at 3:28 pm to WikiTiger
quote:
f so, that's the essence of bitcoin. i can explain it but won't go into it unless you want me to
please do
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