>going to crash hard to $50 in two or so days
>the time to buy is now

wat

>>33319134 (OP)
SO glad I liquidated at $160 per coin yesterday, made $400. It's currently $138 and dropping FAST

>>33319134 (OP)
>I have inside sources
Seems legit.

>>33319152
that's the lowest it'll get before it shoots up to $500 again based on some bullshit rumor like a Cyprus bank run. Or have you learned nothing?

Can you at least try harder next time?

>>33319161
>mfw that is going to be my mousepad

>>33319177
JIDF please

>>33319134 (OP)

sent ;)

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>>33319134 (OP)

Well, I had a feeling that the stupid butterfly shit was a scam.

Also, thread music.

http://www.youtube.com/watch?v=1lWJXDG2i0A

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OP is right

>>33319231
the jews already tried to thwart this earlier today with their army of autobots but failed as you can see they made a small profit, but the crash is invitable

>>33319134 (OP)

No shit it's a scam. The reason money has actual value is because EVERYONE believes I can trade that money later. Barely anyone trades bitcoins and constantly fluctuating prices makes it unlikely for more people to join.

Not to mention everyone knows the first few people become instant millionaires for doing nothing. Nobody wants that guy to be successful for doing nothing.

>>33319134 (OP)
SO you want us to buy into your pyramid scheme? yeah no thanks bitcoins are worthless

>>33319298
You are an idiot and know nothing

>>33319303
yur a fag

now is the time to buy into litecoins. first signs of btc falling ltc rising.

>>33319318

Tell me what I don't know then.

>>33319344
>ponzicoins
>its like bitcoins, except theyre not supported by antyhing!

>>33319134 (OP)

Mein sides if that were true. Would also mean that I'll be in the mining game with my 7ghash a lot longer.

FUCKING
SELL
RIGHT
NOW

>>33319344
I don't like litecoins

they aren't really an investment when the markets have no way to buy and sell them, although I do liek the idea of getting a large quantity of them. Remember bitcoins took like 5 years to get running so expect litecoins to take 10 years

Even if it crashes to 50$, the new Butterfly Labs miners will be extremely profitable, they'd have to fall below 15$ to stop being profitable over three months.

$136

gonna post an update every hour

>>33319393
those miners won't come out for a year, mark my words

>>33319368
yet..

litecoin is superior to btc in every way.

btc= MySpace
ltc= Facebook

Of the 4 miners that BFL has shipped, one was DOA. Solid product!

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>>33319406
http://bitcoin.clarkmoody.com/

Just use this shit.

Turn sounds on so that you'll know when mass trading occurs.

It was actually really entertaining to hear all the simultaneous dings at around noon when the price dropped into the $120s

>>33319435
wow that is a GREAT analogy I'm going to have to remember that so i can laugh again 5 years from now when BTC are 10,000 a pop

>>33319435
>litecoin is superior to btc in every way

its superior in the way that you can scam people into falling for it, unlike with bitcoins, which are actually useful

nice try i guess

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>>33319498
>>$120

>implying im not waiting for the crash, so that i can buy lots of them for cheap, and sell them at another peak

>>33319504
>BTC
>around 5 years from now
6/10 made me snort

>>33319546

theyve already been around that long cumlord

>>33319515

There were people selling for ~125 earlier and the price was dropping rapidly, but then people started buying again once they saw the price drop which brought it back to what it is now.

>>33319558
A currency that can be devalued by a fucking DDoS attack is NOT going to be a long term stable currency.

>>33319504

yes, definitely remember this. Let's see where litecoin goes.

itt : disinfo agents

bitch

Reminder literally everything posted on /g/ about buttcoins has been designed to try and trick you so people can literally profit from your loss.

>>33319582
You mean like stocks?

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>>33319629
>not using campbx

>>33319582
>one fucking tweet about obama crashes all stocks
>NOOO ITS NOT THE SAME THING!!!!!! U JUST DONT GETDIT

all markets like these come with their own risks, if you werent 12 you would know this and not point it out to people who already know this

>>33319629
so what? you can't withdraw more than 1000 dollars a day.

>>33319645
>>33319670

>Implying a short sale is just as easy as a DDoS
I don't think you understand economics very well.

>>33319161
I want to get off BITCOIN'S WILD RIDE

fucking damn it, for one reason or another I always end up having no extra cash whenever crashes occur

>>33319701
>implying a sucessful DDOS won't plummet the value of a company's stocks.

>>33319670
>>33319701
So we can CONFIRM the person who hacked the twitter made 200 billion dollars by shorting stocks before doing it right?

>>33319680
I can't fund my account without verification, unless I want to bank transfer to japan.

>>33319724
I have no idea. Source for your currently baseless claim?

>>33319176
>made $400

dude.. that's like nothing

>>33319649
>campbx

Is that the one that got hacked and lost everything?

>>33319738
Someone hacked AP twitter and the market crashed by 200,000,000,000$ in 5 minutes.

>short stocks
>use hacked twitter
>???
>profit billions

>>33319792
no, that was bitfloor

>>33319773
$400 that's going back into butt coins once it crashes

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>>33319649
>go to campbx
>no verisign authentication

>>33319807
Oh, twitter, I hate you so much.

>>33319134 (OP)
I just got my Jalepeno today. Already up and working! Great device!

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>>33319838
>a meaningless sticker makes him feel safe

LOL

>>33319881
how many hundreds of buttcoins did you make today?

>>33319380
I've made 10 in a week, which is $40 at the moment. Not bad for free money.

>>33319947

jesus, I make that many in a day

step up your shit anonymouse

>>33319204
/pol/lution, please. Seriously, braindead scum like you makes your place the worst on 4chan.

>>33319134 (OP)
$135

>>33319947

Do you just set the Litecoin dingly to Mining Modo and leave it on 24/7?

>>33319966
I don't have 6 MHash/s worth of hardware, nor am I willing to invest that much in something that will probably go nowhere.

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>>33319916
>SSL certificates
>meaningless

>>33319995
I mine 8-16 hours a day depending on whether or not I have work that day.

>>33320005

you'd be making a lot more with 6, I do that with 4

i bought all of my shit 2 years ago when you fags were busy saying it was a scam. paid itself off in under a month, has been mining since then.

>>33319967
>/pol/
>not the best board on 4chan

SRS pls go

>132

I'M FREE

FREEFALLIN'

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>>33320014
>SSL

i bet you also think that HTTPS is always safe

>>33320014
Are you kidding? SSL companies hand them out like fucking candy. The only thing they're good for is verifying you're going to the site you meant, there is no implicit trustworthiness.

>>33320038
Enjoy your IRS Audit.

>>33320038
Where do you sell?

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>>33320058
That's why you send everything cleartext

>>33320080

coinbase

>>33320070

i pay my capital gains taxes thank you

>>33320067
>The only thing they're good for is verifying you're going to the site you meant
That's pretty important

>>33320092
>coinbase
They do litecoins as well?

>>33319822
that's still nothing

Just want everyone to know that I'm only buying 2.7 btc at $100 apiece

take it or leave it mount cocks, lets see if my order goes through or not

>>33320092
>i pay my capital gains taxes thank you

If you don't have a letter from a certified accountant or some other professional who signed off on your taxes you will still get audited.

Better pony up a few thouand bucks if you don't want to have any trouble.

$129

>>33320250
OOOOOHHHHHH BABY

BASED STICKY

>>33319134 (OP)
$127

once it gets to $125 I'm gonna REALLY start sweating because that was the lowest it's been in a while

>tfw you bought in $1000 at $150
WHAT THE FUCK?

>>33320349
/g/ is always right

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>>33320330
>>mfw it just started going up again to $131

damage control as fuck

>>33320235

i do anyway so that isn't an issue

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Okay, well I can see things are dropping, but there is enough damage control to keep things from dropping to 120 dongs or lower at the moment.

>everyone without ascii machines will switch their mining to litecoins
>people will have an abundance of litecoins that they want to buy goods and services with
>with the demand stores offer litecoin as a payment method.
>tfw when transactions are faster and litecoin is preferred over btc

>>33320711

you currently can't buy anything of value for litecoins

>people will have an abundance of litecoins
>nobody is gonna want to pay for litecoins
>stores that offer litecoin as a payment method won't be able to sell their litecoins for real money
>why the fuck would they offer litecoin as payment method.

>>33319134 (OP)
>going to crash
you're a jackass
>buy now
W-what?
>BFL is a scam
No shit the CEO is a well known con artist google that shit

>>33320766
>he doesn't know about atlantis
my sides

bitcoin is going to only go up in the long haul until there's a better alternative.
seriously, people are selling youtube/facebook comments/likes/views on this site.
even if bitcoin did get illegal, it has SO many markets it just can't be eliminated from now, because it serves them perfectly.
these markets (yes, they're mostly illegal, but what does that matter when no one could bring SilkRoad down for more than 3 years) alone use more money than all bitcoins hold currently.
Hence even IF bitcoin selling becomes illegal, bitcoin would be bound to go up. If it's not becoming illegal, the limitations are endless.

Until someone comes up with a better alternative.

It's simply the BEST option by far today for in-practice anonymous transactions, and the best/a very good option for a load of other transactions as well.

>>33320860
https://www.bitmit.net

forgot link to site, lol

>>33320711
>>33320766
Litecoins are mined with Scrypt, not SHA-256, you cannot mine them with ASICs currently. Nobody has yet made the hardware to mine them at that level of efficiency.

>>33320766
>why would they offer litecoin as a payment method

exact same reasons as bitcoin

anonymous
secure
5x faster transactions
more secure network
way easier to get into
anti-monopoly

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>>33319134 (OP)
>The value of bit-coin is going to crash hard to $50 in two or so days so the time to buy is now.

>>33320894
litecoin's 2.5 minute system makes it take longer to get the same strength of confirmation as a bitcoin transaction. no one is accepting even bitcoins after just 1 confirmation.

>>33320922
>'strength of confirmation'
tinfoil hats pls go

literally nobody cares about that even if moving thousands of dollars

>>33320889

thats why I said people WITHOUT ascii machine will switch to litecoin.

>>33320940
they're called ASICs, Application specific integrated circuits

not ascii machines

jesus please stop that

>>33319215
I don't know why but I laughed

>>33320922
>[citation needed]

Bitmit needs 6 confirmations to accept a payment into it's escrow
MtGox needs 9.

How the fuck do you retards think this will ever be a valid currency if it can't be stable within 50 bucks for more than a month? You guys are buying into one fucking hilarious ass ponzi scheme.

>>33320992
>hurr durr what is a commodity

>>33321011
It isn't even a fucking commodity you tard, it is NOTHING.

YOU PEOPLE ARE BUYING LITERALLY NOTHING.

>>33320938
was meant as a reply to

>>33320988

>>33321042
Nope, people are buying an online, secure, distributed, peer to peer cryptologically secured commodity which is backed by The Laws Of Physics And Mathematics.

>b-but it's nothing

Someone tell the NSA and NIST and every single computer system in the world that cryptography is "literally nothing"

>>33321061
fuck. the other way around. whatever.

>>33321061
>>33321081
And what's the reason for that? Protection against 51% attacks?

>>33321094
i'm not sure, i guess it's to make sure they don't accept transactions from a dead branch.
chains can diverse even without attacks. multiple miners can mine multiple different blocks at the same time.

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>>33321080
>secure

>>33321080
It makes no sense, nothing backs it.

US currency is no longer gold backed, but it's backed debt, giving it value.

BTC has nothing, it's a fucking ponzi scheme.

>>33321094
or i guess, it could cause issues if a miner is already spending his coins mined in the last block in the next block that's also resolved by him. not likely, but possible

>>33321152
>ponzi scheme
I do agree with you that Bitcoins are complete bullshit but you clearly have no idea what a Ponzi Scheme is.

>>33321080
>peer to peer cryptologically secured commodity which is backed by The Laws Of Physics And Mathematics.

Which is hilarious because every time I hear that buzz phrase, some bitcoin dealer gets hacked and everyone loses their precious buttcoins.

>Someone tell the NSA and NIST and every single computer system in the world that cryptography is "literally nothing"

It is nothing. All it is is math. That's it. It's not anything but some math problem.

>>33320070
>not living in a country with no Capital Gains Tax

>>33321180
A ponzi scheme is a scam which involves fraudulent investments.

Honestly, the best way to describe it involves runescape price manipulation, as it looks most like the bitcoin phenomenon.

The idea of price manipulation in RS involved choosing a useless item, having a small group of people buy said item in large quantity creating an initial spike in fake demand.

This useless item, like a fucking pie tin, would raise in price by a little bit, these people would then have their clan full of kids ready to get scammed buy the fuck out of these items. These victims buying said item would create a fake demand for it, and eventually the scammers would drop their supply of items when the price skyrocketed.

Those who first bought the item will make profit, maybe even those who hopped on early and left early enough will. Though everyone who chose to buy the item will be fucked, because it's value wasn't real, it never had value, the system was just made to believe it did.

This is a Ponzi scheme.

Now lets look at bitcoin.

>Around for 5 years, people who created it probably earned hundreds, maybe thousands.
>Early investors have tons of them.
>Nearly impossible to mine now, I've been told that if you run a PC for one year, you will not gain one bitcoin.
>Has a perceived value created by false a forced rised regulated demand created by hype.
>Bit coins, like the RS item, has no use, maybe buying CP if you're a sick fuck, but yeah.
>It's a ponzi scheme.

>>33321224
Does a mugging make the american dollar less secure?

>>33321152
>i have no idea what a commodity is
>>33321224
Math is everything nigger, it is literally the only thing you can objectively trust.

Some retards get hacked, oh no! someone got robbed, therefore USD itself is robbed :((

>>33321365
Except that bitcoin exists to facilitate transactions on Tor, nothing else.

The value is literally irrelevant, all transactions are hedged.

Bitcoin will be around forever.

>>33321138
www.reddit.com/r/Bitcoin/

how am I ever supposed to buy a pass when the price fluctuates so much?

I keep imagining watching the financial report one day, and hearing them announce the price of bitcoin like it was any other commodity or currency.

>>33321372

It would if the US dollar wasn't backed by anything and went from a trusted source whose main purpose is to instigate trade.

>>33321452
>i STILL don't understand commodity vs currency

this is like saying b-but gold is b-bad because the value f-flucutuates

>>33321452
You completely missed the point.

If I steal your wallet, it's not the money's fault, it's yours.

>>33321365
Maybe you should look up what "Ponzy Scheme" actually means.

>>33321476
BITCOIN IS BEING ADVERTISED AS A FUCKING CURRENCY, NOT A COMMODITY.

What is a commodity?
"A useful or valuable thing, such as water or time."
What the FUCK can I do with bitcoins?

Gold, Silver, coffee, oil, etc. ALL have a value for a reason. Gold and silver are rare and have industrial uses, coffee is drank, oil is burned, etc.

Because of this, people will consume and use said commodities, so they have a value.

WHERE THE FUCK DOES A BITCOIN GET IT'S VALUE FROM?

Nowhere, it's all in the perceived value, people BELIEVE that bitcoins are worth something; hence they are a ponzy scheme.

>>33321557
You should, because bitcoins fall STRAIGHT into the textbook definition of a ponzi scheme.

>>33321365

You defiantly need to Google ponzi sheme.

>>33321589
>BITCOIN IS BEING ADVERTISED AS A FUCKING CURRENCY, NOT A COMMODITY.

Nobody ITT is calling it a currency.

We're correctly calling it a commodity.

Stay mad you can't argue the point.

>>33321476
But no other commodity's price fluctuate this much and this fast. It's too unreliable for anything

>>33321589
>What the FUCK can I do with bitcoins?
A commodity more secure to fraud, impossible to counterfeit, able to be moved around the world instantly, immune from jews, immune from governments, private transactions, orders of magnitude lower jew "exchange" fees.

>>33321645
Hah, you haven't looked at the price of gold have you?

>>33319368
lolwut

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>>33321629

>>33321616
No-one promises greater returns by buying bitcoins. On the contrary, it's always been said that you shouldn't be putting money you can't afford into bitcoin.

Ponzi is just a buzzword meant to scare people, but bitcoin does not fix the definition of a ponzi scheme because ponzi schemes have very specific definitions.

What is BFL

Reminder the bitcoin disinfo campaign has been hard at work on /g/ for literally years to keep people from making profit.

>>33321689
see
>>33321679

>>33321589

gold for btc exchange.

>>33321616
>>33321679
You got your definition of a Ponzi Scheme from a image?

>>33321706
>>33321679
pls don't be jelly you're such a stupid pleb you didn't here the inherent untouchable objectively superiority of an anonymous hard-crytpo based P2P commodity system and lost on out the ability to be a NEET millionare

because it's all objectively true :^) You literally lost out on Millions.

>>33321662
I have it's going down are you really comparing it to Bitcoins?

>>33321739
Or try wikipedia, the image states the EXACT same thing.
http://en.wikipedia.org/wiki/Ponzi_scheme

>>33321706
All cokes are:
* liquids
* sweet
* cold

Therefore orange juice is a coke.

>>33321759
I hope to god you people aren't really this stupid, I REALLY hope you aren't invested in this shit.

Your money is gone.

>>33321758
If you read that article on wikipedia you'll realize that Bitcoin is not a ponzi scheme.

>>33321589
by your logic gold would be a ponzi scheme.

>>33319738
>somebody hacks a newspaper's twitter
>posts about kebabs in white house
>wall street plummets

>>33321782
>your money is gone
brah my GPUs paid for themselves within a month, they've been making me dosh for years now.

ITT: Retarded Libertarians

>>33321788
Gold has an intrinsic value. It's both rare and has industrial uses.

>>33321782
It's the same faulty logic.

A has properties X, Y, and Z.
B has properties X, Y, and Z.
Therefore, A is B.

...

>>33321812
Not all libertarians support Bitcoin.

It's like a 50/50 split.

>>33321828
If gold was rated on its "industral uses' its value would be marginally higher than copper.

gold has value because people say it does

it's literally identical to bitcoin

>>33321884
The point is that currency has to start as a commodity.

http://www.vforvoluntary.com/articles/the-theory-of-money-in-the-tradition-of-carl-menger-part-i.html

>>33321884
Rare, flashy, industrial uses and it has something called TANGIBILITY.

Maybe you've heard of it, gold actually fucking exists.

>>33321828
Gold is not rare. The universe is full of gold. Asteroids near earth have more gold than on earth. On the other hand, the rarity of bitcoins have hard limits that cannot be exceeded.

>>33321930
>The universe is full of gold
I forgot how we were doing space explorations now

>>33321927
>Mathematics doesn't exist!

At this point it is _LITERALLY_ easier to 'forge gold' than it is to forge a bitcoin.

>>33321930
Rare to this planet, and I don't see aliens coming down randomly with a shitton of gold happening any time soon.

Even at that, you're HEAVILY overlooking the fact that BITCOINS ARE LITERALLY "nothing".

>>33321955
There is more gold in the ocean than we could ever need or want. There is so much that if it were all magically collected gold would be worth less than a dollar per pound.

>2013
>being so fucking stupid you don't understand what a mathematically confirmed deflationary currency/commodity means
>sitting idly on your hands
SHIGGITYDIGITTYDOO

>>33321960
>At this point it is _LITERALLY_ easier to 'forge gold' than it is to forge a bitcoin.

No it's not, my GPU is "forging" bitcoins all the time.

Get real moron.

>>33321970
>Cryptography is nothing!

Why are the people against *coin always such luddites?

Do they even know how basic encryption works?

What HTTPS actually MEANS?

how RSA____ works?

>>33321993
>i have no idea how bitcoin and mining works
>i think that GPUs produce bitcoins except when they get lucky and are AWARDED it for finding a block
based ludditebro

>>33321988
Holy shit so we're doing deep space and deep sea exploration.

>>33321988
PLEASE DO FUCKING EXPLAIN!

Because I'm PRETTY fucking sure you're full of shit. NOONE gives a fucking fuck about the math behind bitcoins, NOONE! Why does noone really give a fuck? Because bitcoins... don't exist!

>>33322041
Why does physicality matter? Why is it so important to you?

>>33322020
>i have no idea how mining works for precious metals
>i think that mineralists produce gold except when they get lucky and are AWARDED it for finding a dig site and digging up product

You are literally the dumbest mother fucker out there, brb making gold out of thin air, like muh buttcoins.

>>33321988
Why would it be less than a per pound? Because of the increase supply? Just like diamonds, right?

>>33322065
Not him but what is stopping someone else for creating a new form of bitcoin? Oh yeah that's right nothing.

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>>mfw OP's shitpost of a troll has turned into this massive thread

>>33322070
People using bitcoin implicitly agree to the rules of bitcoin. Bitcoin's rules are that coins are rewarded to the people 'mining'. It's not forging because the users agree to it.

>>33322070
>implying mining bitcoins hasn't been confirmed mathematically profitable as FUCK since the very start

/ ! \ WARNING / ! \

ALL GOYIM REPORT

CONFIRMED DISINFO AGENTS IN THIS THREAD

/ ! \ WARNING / ! \

STAGE 4 KIKE ALERT

JIDF SPOTTED

/ ! \ WARNING / ! \

>>33322104
>It's not forging because the users agree to it.
>Completely forgetting the huge fucking buttcoin fork

do go on.

>>33322065
Tangibility is kind of important thing for humans you know.

>>33322041
>nobody cares about the math behind bitcoins

TOPP

FUCKING

OVERLEL

ACHIEVED

they would be literally worthless and even a child could forge them and make the currency worthless without the math behind them

keep flailing like a petulent little child because it will never, ever go down anywhere close to your delusional fantasy of 0$

>>33322065
Someone else just said it, but what is legitimately stopping people from making a new bitcoin? Fuck, it already happened; litecoins!

Lets see you do some alchemy shit and make gold or silver; oh wait, that's fucking impossible.

>>33322086
>a new form of bitcoin
they can do whatever they want. how is that going to collapse bitcoin?

Now if you were a complete dipshit and said

>create bitcoin

Mathematics.

>>33322155
>that's fucking impossible.
It isn't but it is nearly impossible

>>33322136
Only to retards. Intelligent people know that Mathematics is literally the only thing you can trust and is objectively superior.

>>33322086
What does that have to do with the value of bitcoin?

>>33322128
Forks have always existed in bitcoins. So what? Bitcoins as we know it now have not been forged.

>>33322136
The idea of "value" itself is intangible. Without a conscious being, gold has no value.

silicon is objectively more scientifically useful and valuable than gold

gold is based on the old standard of idiotic women who want muh jewelry

>>33322187

That's why Bertrand Russell never finished a proof for 1 + 1 = 2 and Godel completely massacred him over it.

You pseudo math fags can shut up now.

>>33322152
You can put a shitload of math in something, when it has no intrinsic value, it's a scam.

>>33322187
I'm a math major, and fuck you.

Just because they are impossible to make without math, does NOT mean that they are worth anything, they don't fucking exist, period. PERIOD

It has nothing to it, tangibility is everything, as a commodity, it's fucking useless.

What can you do with a bitcoin? At worst, you can't even take them all together, put them in a sock and beat yourself to death when you have no money left.

>>33322221
What makes bitcoin special if there is nothing stopping people from creating something exactly like it?

does the currency in your bank account exist? You take some currency out of the atm and are given a note representing the currency that is nothing.

>>33322041

>>33322254
>I'm a math major

No you are not.

Describe the basics of an S-Box, if you are.

>>33322155
>but what is legitimately stopping people from making a new bitcoin?

The difficulty of getting others to value it. It seems like litecoin is the only other one to have gained traction thus far, and the total value of all litecoins is tiny compared to all bitcoins.

>>33321557
perhaps it's a pony scheme.

>>33322257
A new, solid, point that needs to be hammered in.

By the bitcoin standard, every retard with google can make a new currency.

>>33322267
Yes, yes it does! The government, who has a fucking shitload of guns, like a lot of guns, and people who will shoot said guns says it has value, THEREFORE IT HAS VALUE. It is in the faith of the nation, it's backed by SOMETHING.

>>33322269
Third semester only, going to be an accountant, I've yet to cover that material.

bitcoins are consumed over time as people lose varying amounts in unrecoverable wallets. As their supply is fixed there will eventually only be 1 bitcoin.