OT: Bitcoin and Alt Coin Discussion and Questions

[Blkbrd671]

So BTC is becoming increasingly more popular and i thought i provide the Board the various ways you could earn BTC.

Brief Summary of BTC: Its value is purely based on Supply and demand. There is a entire economy built around BTC to the likes of 170Billion dollars. Around 2022, all Bitcoin will have been mined and from that point the only way to get BTC is to buy from a Institution or a Peer, and in theory if the Demand remains but the supply is now gone, the price should skyrocket.

Alt Coins: There are 1,000's of other Crypto Coins, such as Ether, Litecoin, NEO. These coins represent stocks in the various companies trying to develop tech on the Blockchain(Network BTC is built on ).



Buy Bitcoin:

Download a digital wallet (Coinbase)
Purchase Bitcoin via Debit/Credit Card

Trade Crypto Currency

There are various exchanges such as Bittrex, Binance, Coinrail, Kraken which are 24/7 Crypto Exchanges that trade most Crypto coins. Its here where every day ppl can become millionaires. There are some scam coins, but there are also alot of good quality coins that have significant investors and Development teams who's shares are literally in the cents. Much Bitcoin,Ether, Litecoin were all once less than a $1, these crypto's have the exact same potential to be 1000% their current value.

There are various SLACK & TELEGRAM groups which offer Signals on the trading market and Trading advice. I personally am in 2 of them and have found them beneficial.

I currently use Bittrex and i highly recommend that if you do get into trading, you be very careful, you can become a million are or lose the house if your not careful.

Mine Crypto Coins

Crypto coins aren't magically created, they are in fact mined. Mining is "solving algorithm's" by the block and with each block mined, the miner is given X amount of whatever coin they chose to mine. As more blocks are mined, the difficulty of these algorithm's increases.

You can either buy the hardware such as a RX4850, install it in your computer, and have it running. These type of units become quite hot, and require some attention

You can visit websites like Minergate, who take your current computer and mine crypto you select in the back ground , and you can even upgrade to Cloud Mining.

I highly recommend this if you have any old computers or even smart phones, you can link them to a website and have them earn you money 24/7


Loan Your Bitcoin

There are various companies whom you can Loan your Bitcoin too and they'll trade it on exchanges and give you a cut. You also get commissions for referring anyone to the company. These include Bitconnect, USI, Laser Online etc.

This type of earning is a littler higher risk, but the potential is definitely there. I've gotten through my first cycle with USI and have got 140% return in BTC. I wouldn't recommend investing your life savings, but its another way to diversify your portfolio and gain some earnings.


Gamble your Bitcoin

More and more you'll see the majority of these gambling sites take Bitcoin. I personally have made bets on one of these sites and have won and withdrew my earnings with no problems. You can sports bet, casio bet, essentially everything you can do in Vegas.


Buy Shares in a Mining Company

There are various companies which offer you shares in the company that entitle you to mined earnings. 2 Years ago this was really popular as the difficulty of mining was low and the yield was high, with the popularity of BTC soaring, the return isn't really worth it.

Write a Blog

Steemit is probably the most popular site, but the idea is that you earn Crypto with each post you create that is voted up (liked). Its a nice way to share your experiences and possibly earn a couple $ or even more. I just started doing this, and its interesting to say the least.


I think i covered most of the ways you can earn Crypto. Its a really exciting time , and if anyone has any questions or wants any more information on what i posted, please feel free to pm me or comment. I have nothing to hide.

Idk if this would be a problem and if it is , please lock, I just feel like i need to share this with you guys as its literally going to change the world, and honestly i'd feel guilty not sharing it with my Piston community.



BITCOIN

WTF is it!?

Like the Euro is the currency of Europe, Bitcoin is the currency of the future.

Its the first decentralized currency meaning that nobody owns it , nobody controls it.

Then where is it!?

Its in Cyberspace

Why is this Changing the World

Its value is purely based on Supply and Demand, hence why its commonly referred to as "Digital Gold". The maximum amount of Bitcoin that can be in existence is i believe 22 million BTC. Meaning once the supply is gone, and demand continues to escalate, the value of each coin skyrockets.

When i bought BTC 2 years ago, the value was at $280 a BTC, its currently at $4,400 and climbing and its still hasn't even captured even .01% of the market. Its expected to surpass $6,000 by year end and if it continues its growth over the past 2 weeks, we are looking at $15,000 per BTC.

The basis of the value is that BTC eliminates the red tape. For the first time, we no longer need a institution to verify a transaction and 6 PHD's to determine value. It value is not only currency, but transactions like Voting, or your ID information. Because BTC is digital, you can actually program the currency to store your information (Birth Certificate, Title to home, etc) in the smallest fraction of a coin.

So if i wanted to vote, i dont' need to register or even go to a poll. i simply submit a payment ($.000000000001 cent)of Bitcoin that is programmed to tell "polling sites" whom i am and whom i am voting for and because its a 100% secure, there's no need to verify and re-verify who i am. If you wanted to sell me your house, there's no longer a need for Banks and Title companies and payment can be done in seconds over cyber space.

BTC essentially eliminates a huge portion of overhead .

The possibilities are endless.

this is literally not even the tip of the Iceberg

Companies and Entrepreneurs began launching "Initial Coin Offerings" on the BItcoin network. These ICO's are going to replace stocks and because its so new, there is so much money to be made and again, we haven't even reached .01% of the market.

Japan recently adopted as a recognized currency and the entire country is setting up for its use. Australia's about to follow suit and either country really hasn't even started to tap into the crypto market.

If you want to day trade, all you need is a email account and it doesn't even have to be tied to your actual name. You could make a Million dollars anonymously


There's so much more to explain that shouldn't be in 1 post , but if mods are okay with keeping this thread open, I can answer any questions you may have.

Everyone is looking for that one opportunity, that one lottery ticket that is going to help them escape the 8-5. Mark my words, Bitcoin is that ticket.



EDIT:

You can purchase a fraction of a BTC. for instance right now $10 would get you .00227 BTC.

*This is only my opinion, make of it what you wish. It's only meant for use as informative, due your own due diligence and i promise you'll see a entire world your missing out on. **

[BadMofoPimp]

I think Bitcoin now is currently inflated. I wish I would have invested into it 2-4 years ago.

[MotownMadness]

Interesting stuff

[Pharaoh]

Think there's a thread on the Off Topic side of Real GM about this where a guy posted vids explaining everything.

It's certainly interesting though I disagree Australia is set to do anything with this

[Blkbrd671]

Think there's a thread on the Off Topic side of Real GM about this where a guy posted vids explaining everything.

It's certainly interesting though I disagree Australia is set to do anything with this

https://cointelegraph.com/news/australia-is-heading-towards-legalizing-bitcoin

while not exactly a leap, a step

[Blkbrd671]

I think Bitcoin now is currently inflated. I wish I would have invested into it 2-4 years ago.

It makes absolutely 0 sense not to invest anything in BTC, if you took $20 a pay check and instead of putting it in your bank account, you purchased BTC. that be $500ish in BTC for the year. If BTC goes from $5,000 to - $15,000 , which is the current forecast at its growth rate, you just made $1000 buy simply putting your cash else where.

If BTC hits $100,000 , which is probable, your $500 just became $10,000. At best you make a sh* load of money doing nothing, at worst you lost $500 a year, or a value meal every pay check. At any point in time, you can convert your BTC back to $ on your phone. So the risk isn't really as high as most think. If $20 is too much, then use $1, .50 .


Think about it mofo pimp, today hardly anybody or country is using BTC, but its value continues to grow. If 1 country simply adopts it, its a entire market now purchasing BTC, as the demand grows so does the value.

Yes Institutions can abandon the market and hurt the price of BTC, but why would they do that?

Everything is headed towards convenience and speed, BTC provides that and much more.

Also BTC is not the only Digital Currency, Ethereum is right now trading at $290 and its platform is more gear'd towards the utilization of digital currency. Microsoft and essentially all of silicon valley has begun to build applications on this block chain and have released several ICO's.

NEO's coin, which is China's Ethereum, just recently went from $8 to $40 a coin on their rebranding.

I have several heavy positions in these coins and just because its new and the fact that a every day joe smo puts his money out there, your going to make money simply by getting in this early.

Bittrex is a ICO exchange, check it out. The beauty of this market is that the trade value is all in BTC, meaning the exchanges themselves are stimulating the BTC price. Also when ICO price increases, its actually the BTC that i can get for that ICO thats increasing. As i attain more BTC in trade, and the price for BTC to $ increases, i am compounding my earnings.

[mercury]

While I am a long time hodler (no typo) and miner of BTC I believe the best future lies with ethereum as it has advanced programmable features built in for business applications.
Not to discount Bitcoin with the new lightning network it will finally reach scalability which has always led to contention within the community.

[sc8581]

If this were to really begin to take off, there would be so many political ramifications I don't even know where to start.

[BadMofoPimp]

I think Bitcoin now is currently inflated. I wish I would have invested into it 2-4 years ago.

It makes absolutely 0 sense not to invest anything in BTC, if you took $20 a pay check and instead of putting it in your bank account, you purchased BTC. that be $500ish in BTC for the year. If BTC goes from $5,000 to - $15,000 , which is the current forecast at its growth rate, you just made $1000 buy simply putting your cash else where.

If BTC hits $100,000 , which is probable, your $500 just became $10,000. At best you make a sh* load of money doing nothing, at worst you lost $500 a year, or a value meal every pay check. At any point in time, you can convert your BTC back to $ on your phone. So the risk isn't really as high as most think. If $20 is too much, then use $1, .50 .


Think about it mofo pimp, today hardly anybody or country is using BTC, but its value continues to grow. If 1 country simply adopts it, its a entire market now purchasing BTC, as the demand grows so does the value.

Yes Institutions can abandon the market and hurt the price of BTC, but why would they do that?

Everything is headed towards convenience and speed, BTC provides that and much more.

Also BTC is not the only Digital Currency, Ethereum is right now trading at $290 and its platform is more gear'd towards the utilization of digital currency. Microsoft and essentially all of silicon valley has begun to build applications on this block chain and have released several ICO's.

NEO's coin, which is China's Ethereum, just recently went from $8 to $40 a coin on their rebranding.

I have several heavy positions in these coins and just because its new and the fact that a every day joe smo puts his money out there, your going to make money simply by getting in this early.

Bittrex is a ICO exchange, check it out. The beauty of this market is that the trade value is all in BTC, meaning the exchanges themselves are stimulating the BTC price. Also when ICO price increases, its actually the BTC that i can get for that ICO thats increasing. As i attain more BTC in trade, and the price for BTC to $ increases, i am compounding my earnings.

I just don't think it will pass go that high and is too volatile. Now, if I would have invested when it was $2-5 a ways back til now, that would have been a low risk investment. Too risky nowadays with our economy. I will check it out tho. I did pretty damned good on my investments last year and a half but this summer started becoming more conservative as things can't continue to go much higher in my opinion.

[mercury]

If this were to really begin to take off, there would be so many political ramifications I don't even know where to start.

This is bigger than any single government... China's govt is mining for profit... Russia has already started the same process... others to follow... several American investment firms are heavily invested.
The ethereum consortium includes Microsoft, Visa, HP & Intel... it's getting too big to levy heavy restrictions... however the volatility is real... anyone that has simply held onto their coins has made a profit... earl adopters will reap the rewards (it's still very early).

[sc8581]

If this were to really begin to take off, there would be so many political ramifications I don't even know where to start.

This is bigger than any single government... China's govt is mining for profit... Russia has already started the same process... others to follow... several American investment firms are heavily invested.
The ethereum consortium includes Microsoft, Visa, HP & Intel... it's getting too big to levy heavy restrictions... however the volatility is real... anyone that has simply held onto their coins has made a profit... earl adopters will reap the rewards (it's still very early).

I didn't say anything about a single government, im talking about the central banking system, oil standard dollar etc.. The "powers that be" will not let this happen without a fight unless they have control of it in some way. No matter how safe you think this is, the major economic disaster that this could no doubt cause would make your bitcoins worthless if you can't spend them.

[Blkbrd671]

I think Bitcoin now is currently inflated. I wish I would have invested into it 2-4 years ago.

It makes absolutely 0 sense not to invest anything in BTC, if you took $20 a pay check and instead of putting it in your bank account, you purchased BTC. that be $500ish in BTC for the year. If BTC goes from $5,000 to - $15,000 , which is the current forecast at its growth rate, you just made $1000 buy simply putting your cash else where.

If BTC hits $100,000 , which is probable, your $500 just became $10,000. At best you make a sh* load of money doing nothing, at worst you lost $500 a year, or a value meal every pay check. At any point in time, you can convert your BTC back to $ on your phone. So the risk isn't really as high as most think. If $20 is too much, then use $1, .50 .


Think about it mofo pimp, today hardly anybody or country is using BTC, but its value continues to grow. If 1 country simply adopts it, its a entire market now purchasing BTC, as the demand grows so does the value.

Yes Institutions can abandon the market and hurt the price of BTC, but why would they do that?

Everything is headed towards convenience and speed, BTC provides that and much more.

Also BTC is not the only Digital Currency, Ethereum is right now trading at $290 and its platform is more gear'd towards the utilization of digital currency. Microsoft and essentially all of silicon valley has begun to build applications on this block chain and have released several ICO's.

NEO's coin, which is China's Ethereum, just recently went from $8 to $40 a coin on their rebranding.

I have several heavy positions in these coins and just because its new and the fact that a every day joe smo puts his money out there, your going to make money simply by getting in this early.

Bittrex is a ICO exchange, check it out. The beauty of this market is that the trade value is all in BTC, meaning the exchanges themselves are stimulating the BTC price. Also when ICO price increases, its actually the BTC that i can get for that ICO thats increasing. As i attain more BTC in trade, and the price for BTC to $ increases, i am compounding my earnings.

I just don't think it will pass go that high and is too volatile. Now, if I would have invested when it was $2-5 a ways back til now, that would have been a low risk investment. Too risky nowadays with our economy. I will check it out tho. I did pretty damned good on my investments last year and a half but this summer started becoming more conservative as things can't continue to go much higher in my opinion.

Don't look at BTC as something to make a sh* ton of money now as you'll drive your self crazy. Buy now, and hold for 2 years, again at worst your out $500, at best you've made a crap load.


Everyone said the exact same thing when BTC hit $100, and then $900, and then $1,800, and now $4,400.

Where is the risk?

Again i could buy 1 BTC right now at $4,071 and when it climbs to $4,400 at the end of the day i could sell it back to paypal and collect my money. If BTC begins to drop, i can abandon it at any point in time.

The risk is that the value will plummet and that only happens when institutions vacate the market, and they seem to be doing the exact opposite. In fact many of them are pouring money into new Crypto Technologies as well as holding onto BTC.

I am assuming your referring to stock options?

[Blkbrd671]

If this were to really begin to take off, there would be so many political ramifications I don't even know where to start.

how so? its a decentralized currency.

The government can only regulate it once you convert it to USD and hits a bank because now its on a record that is tied to you and a institution. There is no government or institution tied to BTC. if you simply keep it as BTC and purchase goods at Amazon or other various retailers that are accepting it as currency, then what can the government do.


This is actually the under lying value of BTC, it takes all the power away from the FED Reserve

[Blkbrd671]

While I am a long time hodler (no typo) and miner of BTC I believe the best future lies with ethereum as it has advanced programmable features built in for business applications.
Not to discount Bitcoin with the new lightning network it will finally reach scalability which has always led to contention within the community.

I have significant positions in both and Ether is something to buy now as in a year, especially when all the app's begin launching, it'll probably be near BTC's current value. The one thing about Ether is that i don't believe it has a Coin cap, so its value can really only get so high.


BTC in the future will be used as a currency where as Ethereum will be more of a functional currency and utility. Many see these 2 coins as competitors but they really are apples and oranges.


If you haven't been on a exchange like Bittrex and seen the ridiculous money being made, please make a account. September is going to be a bounce back month.

[Blkbrd671]

If this were to really begin to take off, there would be so many political ramifications I don't even know where to start.

This is bigger than any single government... China's govt is mining for profit... Russia has already started the same process... others to follow... several American investment firms are heavily invested.
The ethereum consortium includes Microsoft, Visa, HP & Intel... it's getting too big to levy heavy restrictions... however the volatility is real... anyone that has simply held onto their coins has made a profit... earl adopters will reap the rewards (it's still very early).

I didn't say anything about a single government, im talking about the central banking system, oil standard dollar etc.. The "powers that be" will not let this happen without a fight unless they have control of it in some way. No matter how safe you think this is, the major economic disaster that this could no doubt cause would make your bitcoins worthless if you can't spend them.

its a global currency that is owned and control'd by no one. IT actually is the greatest threat to the Central Bank, and makes it obsolete. Your going to have to convince a lot of companies that continuing to pay these institutions and governments fee's for transactions that can be done in a split second for literally 1/1000th of the cost is smart business plan.

[MotownMadness]

This is bigger than any single government... China's govt is mining for profit... Russia has already started the same process... others to follow... several American investment firms are heavily invested.
The ethereum consortium includes Microsoft, Visa, HP & Intel... it's getting too big to levy heavy restrictions... however the volatility is real... anyone that has simply held onto their coins has made a profit... earl adopters will reap the rewards (it's still very early).

I didn't say anything about a single government, im talking about the central banking system, oil standard dollar etc.. The "powers that be" will not let this happen without a fight unless they have control of it in some way. No matter how safe you think this is, the major economic disaster that this could no doubt cause would make your bitcoins worthless if you can't spend them.

its a global currency that is owned and control'd by no one. IT actually is the greatest threat to the Central Bank, and makes it obsolete. Your going to have to convince a lot of companies that continuing to pay these institutions and governments fee's for transactions that can be done in a split second for literally 1/1000th of the cost is smart business plan.

I kinda feel the way he does but I guess if there's that many big businesses or whatever invested in it then it seems safe but I'm pretty dumb to it as in just finding out about it through you but I'm very interested now.

[BadMofoPimp]

It makes absolutely 0 sense not to invest anything in BTC, if you took $20 a pay check and instead of putting it in your bank account, you purchased BTC. that be $500ish in BTC for the year. If BTC goes from $5,000 to - $15,000 , which is the current forecast at its growth rate, you just made $1000 buy simply putting your cash else where.

If BTC hits $100,000 , which is probable, your $500 just became $10,000. At best you make a sh* load of money doing nothing, at worst you lost $500 a year, or a value meal every pay check. At any point in time, you can convert your BTC back to $ on your phone. So the risk isn't really as high as most think. If $20 is too much, then use $1, .50 .


Think about it mofo pimp, today hardly anybody or country is using BTC, but its value continues to grow. If 1 country simply adopts it, its a entire market now purchasing BTC, as the demand grows so does the value.

Yes Institutions can abandon the market and hurt the price of BTC, but why would they do that?

Everything is headed towards convenience and speed, BTC provides that and much more.

Also BTC is not the only Digital Currency, Ethereum is right now trading at $290 and its platform is more gear'd towards the utilization of digital currency. Microsoft and essentially all of silicon valley has begun to build applications on this block chain and have released several ICO's.

NEO's coin, which is China's Ethereum, just recently went from $8 to $40 a coin on their rebranding.

I have several heavy positions in these coins and just because its new and the fact that a every day joe smo puts his money out there, your going to make money simply by getting in this early.

Bittrex is a ICO exchange, check it out. The beauty of this market is that the trade value is all in BTC, meaning the exchanges themselves are stimulating the BTC price. Also when ICO price increases, its actually the BTC that i can get for that ICO thats increasing. As i attain more BTC in trade, and the price for BTC to $ increases, i am compounding my earnings.

I just don't think it will pass go that high and is too volatile. Now, if I would have invested when it was $2-5 a ways back til now, that would have been a low risk investment. Too risky nowadays with our economy. I will check it out tho. I did pretty damned good on my investments last year and a half but this summer started becoming more conservative as things can't continue to go much higher in my opinion.

Don't look at BTC as something to make a sh* ton of money now as you'll drive your self crazy. Buy now, and hold for 2 years, again at worst your out $500, at best you've made a crap load.


Everyone said the exact same thing when BTC hit $100, and then $900, and then $1,800, and now $4,400.

Where is the risk?

Again i could buy 1 BTC right now at $4,071 and when it climbs to $4,400 at the end of the day i could sell it back to paypal and collect my money. If BTC begins to drop, i can abandon it at any point in time.

The risk is that the value will plummet and that only happens when institutions vacate the market, and they seem to be doing the exact opposite. In fact many of them are pouring money into new Crypto Technologies as well as holding onto BTC.

I am assuming your referring to stock options?

Ok, I may just throw down $500-1k into it. Low risk I reckon.

[Blkbrd671]

I didn't say anything about a single government, im talking about the central banking system, oil standard dollar etc.. The "powers that be" will not let this happen without a fight unless they have control of it in some way. No matter how safe you think this is, the major economic disaster that this could no doubt cause would make your bitcoins worthless if you can't spend them.

its a global currency that is owned and control'd by no one. IT actually is the greatest threat to the Central Bank, and makes it obsolete. Your going to have to convince a lot of companies that continuing to pay these institutions and governments fee's for transactions that can be done in a split second for literally 1/1000th of the cost is smart business plan.

I kinda feel the way he does but I guess if there's that many big businesses or whatever invested in it then it seems safe but I'm pretty dumb to it as in just finding out about it through you but I'm very interested now.

Mo , its the first opportunity ever that allows the People to control a currencies value . I always put it this way, if you took one value month a meal and instead used that money to buy BTC, the chances of you having more money in 6 months is far greater than you losing it, and at worst if you lose it all, you've also lost weight. At best, you might be able to afford your own Mcdonalds franchise.

[Blkbrd671]

I just don't think it will pass go that high and is too volatile. Now, if I would have invested when it was $2-5 a ways back til now, that would have been a low risk investment. Too risky nowadays with our economy. I will check it out tho. I did pretty damned good on my investments last year and a half but this summer started becoming more conservative as things can't continue to go much higher in my opinion.

Don't look at BTC as something to make a sh* ton of money now as you'll drive your self crazy. Buy now, and hold for 2 years, again at worst your out $500, at best you've made a crap load.


Everyone said the exact same thing when BTC hit $100, and then $900, and then $1,800, and now $4,400.

Where is the risk?

Again i could buy 1 BTC right now at $4,071 and when it climbs to $4,400 at the end of the day i could sell it back to paypal and collect my money. If BTC begins to drop, i can abandon it at any point in time.

The risk is that the value will plummet and that only happens when institutions vacate the market, and they seem to be doing the exact opposite. In fact many of them are pouring money into new Crypto Technologies as well as holding onto BTC.

I am assuming your referring to stock options?

Ok, I may just throw down $500-1k into it. Low risk I reckon.

First thing you need to do is download a digital wallet, Coinbase is the most popular as its a exchange and a "Personal wallet" as well. If you'd like to day trade on the ICO market, Bittrex also has a BTC wallet.

[BadMofoPimp]

Don't look at BTC as something to make a sh* ton of money now as you'll drive your self crazy. Buy now, and hold for 2 years, again at worst your out $500, at best you've made a crap load.


Everyone said the exact same thing when BTC hit $100, and then $900, and then $1,800, and now $4,400.

Where is the risk?

Again i could buy 1 BTC right now at $4,071 and when it climbs to $4,400 at the end of the day i could sell it back to paypal and collect my money. If BTC begins to drop, i can abandon it at any point in time.

The risk is that the value will plummet and that only happens when institutions vacate the market, and they seem to be doing the exact opposite. In fact many of them are pouring money into new Crypto Technologies as well as holding onto BTC.

I am assuming your referring to stock options?

Ok, I may just throw down $500-1k into it. Low risk I reckon.

First thing you need to do is download a digital wallet, Coinbase is the most popular as its a exchange and a "Personal wallet" as well. If you'd like to day trade on the ICO market, Bittrex also has a BTC wallet.

I am also going to look into Ethereum. But, I am going to check BTC first. I don't have time to day trade nowadays with my new job as they like to work me long hours. I shoulda played around with this while I was on my 3 month vacation, lol.