Missed out on bitcoin? You can still earn some easy money.

Discussion in 'Lifestyle' started by Parrot, Dec 7, 2013.

  1. Parrot

    Parrot Guru

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    At the moment devcoin and infinitecoin are still selling for very little money. If you get in early now there is still an opportunity to earn a bit of easy cash.
    If you don't know how to buy digital currencies I will now explain the easiest way.

    . Get wallet. Just google devcoin wallet if you plan to buy devcoins or google infinitecoin wallet if you plan to buy infinitecoins. If you are on windows download the windows version.
    . Install wallet on computer. It will then synchronize on it's own. Wait till this is complete, it might take a few hours.
    . Easiest place to buy the coins is on ebay. Your wallet will contain an address. Buy the coins on ebay and message them your address.
    . They will then send you the coins which will appear in your wallet.

    That's it. You can buy the coins a bit cheaper on certain exchanges, however I found this to be more hassle, because often you have to buy a digital currency just to buy another currency. Also some of the exchanges will close your account if your not active and charge fees etc.
     
    Last edited: Dec 9, 2013
  2. bearclaw500

    bearclaw500 Guru

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    I was going to throw $100 or $1000 on these things about three years ago as a speculative investment when they were dirt cheap. I won't touch them now with a ten foot pole. Maybe I am wrong on this, but I think they will fail in their current form. They can be created from nothing, and there is no tangible value to a "bitcoin". Gary North and Michael Rozeff have written good articles about them over at Lewrockwell.
     
  3. werewolf

    werewolf Hall of Famer

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    Sounds great but right now my spare money is tied up as I sent it to a gentleman in Nigeria who picked me to be his US contact to receive 50 billion$ US cash money but I had to send him some earnest money first to prove I was earnest.
     
  4. dwid

    dwid Master

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    the only thing I know about bitcoin is that it was used as currency to buy illegal stuff on the Silk Road which was infiltrated by the govt, random dudes were selling drugs like heroin, you could go on there, supposedly anonymous (you needed a special browser and configuration) to get and buy illegal stuff, didn't turn out that way. Apparently worked for a little while, can't imagine a junkie waiting days for his fix to come in through the mail so probably younger people wanting to try stuff out so as much as I dislike the war on drugs I don't feel bad that it didn't work out.

    I forget which media outlet had a story about this.
     
    Last edited: Dec 8, 2013
  5. jaxvid

    jaxvid Hall of Famer

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    If that's all you know about bitcoin, you don't know anything about it. There is much more. Guys that rag about the Fed Reserve and govt' inflation and debasement of the money supply should be very interested in a non-governmental form of currency. Unlike gold or silver however it's not shiny.
     
  6. werewolf

    werewolf Hall of Famer

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    I like the shiny stuff. I like to swim in it in my money bin!

    [​IMG]
     
  7. werewolf

    werewolf Hall of Famer

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    "Guys that rag about the Fed Reserve"

    The Federal Reserve Bank is a scam. It is not "federal" at all. It is private and run by the big international bankers - and the rulers of it - and the finances of the USSA - are always...Jewish.

    The Federal Reserve -
    Zionist Jewish Private Bankers


    http://rense.com/general85/feddrec.htm
     
    Last edited: Dec 9, 2013
  8. Don Wassall

    Don Wassall Administrator Staff Member

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    I can't say that I totally understand the bitcoin concept, but was always wary of it as any alternative to the power structure's fiat money system is going to come under a lot of pressure not to succeed. Anyone who thinks much tougher economic times are ahead should stick to the traditional method of investing in some gold and silver, which have intrinsic value unlike fiat money and bitcoins.

    The biggest bitcoin exchange, Mt. Gox, suddenly went under the other day and it looks like lots and lots of well-meaning bitcoin users are going to lose everything they put into purchasing them. Mt. Gox had over a million bitcoin accounts.

    The Collapse Of Bitcoin


    http://www.silverdoctors.com/the-collapse-of-bitcoin/
     
  9. Freethinker

    Freethinker Master

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    I never saw bitcoin as anything other than digital fiat. Now how about a digital currency backed by accounts with holdings in gold, silver or another commodity? That would be something I could get behind, but until that point, keep stacking.
     
  10. VetForumWars

    VetForumWars Newbie

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    Unless you love gambling with pump n dumps, stay away from these graphics-card generated butt bux. They can price crash at any time, they can be stolen without recourse, you could lose your file with the coins saved (and therefore lost forever), and exchanges can freeze your butte coins on a whim (like Mt Gox) without any troubles.

    They could also be used as a way of targeting you for audits/investigations into tax evasion/money laundering by unscrupulous governments.
     
  11. Don Wassall

    Don Wassall Administrator Staff Member

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    Well, bitcoin is still alive and well four years after this thread started. Its value has been going straight up in recent months, with some proponents claiming it's headed to $1 million or more.

    I don't know a lot more about bitcoin than I did four years ago, but the current mania has all the earmarkings of a classic bubble. Maybe it'll burst of its own accord (through natural market pressures), or maybe the PTB will find a way to crash it if they deem it too much of a threat to the current bankster-controlled fiat debt system. Or, maybe bitcoin's different and can't be harmed by the PTB and will keep gaining influence and value. But as Richard Spencer points out in this video, much of the emphasis now isn't on the merits of bitcoin itself, but rather investing in bitcoin as the latest "easy way to get rich," just like the tech stock boom of the late '90s and 2000, when IPOs were making money-losing companies based on mere ideas worth billions of fiat dollars. I would imagine many of the current folks jumping on the bitcoin bandwagon know very little about bitcoin itself, they just hope to sell it for easy profits. Any thoughts on bitcoin?

    Why Bitcoin Will Crash HARD

    https://altright.com/2017/12/10/why-bitcoin-will-crash-hard/
     
  12. white is right

    white is right Hall of Famer

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    I remember years ago I could have gotten a bucks worth of a bitcoin from an online survey site. I did one consumer survey and for some reason the result never registered. At best doing those type of surveys I could have gotten a full coin when it was worth about 40 US. But Bitcoin has severe drawbacks that the promoters don't talk about, such as if you ever lose your pin there is no way of verifying your coin total. Also like we have seen in the few mini crashes the value of one coin can drop much more dramatically than a stock.

    As others have stated Bitcoin is a haven for criminals, tax cheats and gray to illegal businesses as I recall a few online casinos stopped taking cash transfers and forced the buyers to buy pieces of Bitcoins and payed out the players in Bitcoin pieces.

    I too think that a nasty crash should be around the corner, similar to the .dotcom bubble and the sugar and tulip crashes centuries ago.
     
  13. werewolf

    werewolf Hall of Famer

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    Last edited: Dec 11, 2017
  14. Heretic

    Heretic Master

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    I think they are legit threat to the fiat central banking system and that's why the media propagandizes against them so much ("only used by terrorists, child traffickers and other 'underground' criminal elements") and governments try to legislate against them. Bitcoins are very difficult to manipulate because they are part of a decentralized, peer-to-peer network and only 21 million of them will ever exist, based upon the immutable algorithm that was unleashed unto the Internet almost ten years ago. The algorithm also limits the number of bitcoins that can be purchased over a period of time so that a single individual or group of shady investors cannot manipulate it by brute force. You can also buy them in any fraction that you desire...even .000001 Bitcoin, if you like.

    The 21 million limit makes them a scarce commodity, like gold, so that's why some call them "crypto-gold"...they can never be inflated because of this 21 million dollar hard limit (unlike the Fed or ECB (or any other central banking system) that can purse "quantitative easing" essentially "at will".) They are backed by energy (wattage and thus electricity) but, technically, 'computing power', because that's what "mines" each of the bitcoin transactions and adds a new block to the public ledger (blockchain). This, along with the code being "open source" (which means anyone can download it and rummage through it to verify it's source code), gives it a high level of integrity, trust and transparency. At this time, I consider it more of an asset investment, like a virtual gold, as opposed to a replacement for daily transactions for goods and services, like cash, as other crypto-currencies like Ethereum seem to be better algorithmically-designed for that (nearly instantaneous transactions). Bitcoin is not 100% anonymous, however, other crypto-currencies that are coming onto the market are, but you can easily exchange Bitcoin for those if you want to.
     
    Last edited: Dec 11, 2017
  15. Freethinker

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    Wish I had bought even 5 bitcoins at the time I wrote this. Who knows what will happen long term but at this point I was wrong.
     
  16. FootballDad

    FootballDad Hall of Famer

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  17. Heretic

    Heretic Master

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    It's back up above $14K now on the Coinbase exchange. No doubt that it's volatile, it always been. The Rothschild-owned media is doing all they can to demonize it with a bunch of falsehoods because they can't really manipulate it like they can with the bogus paper precious metals market and thus the tangible precious metals market.
     
  18. Ambrose

    Ambrose Master

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    Money is debt and the more that is created the more needs to be cancelled in this cabal system of fiat fraud. Bitcoin may serve as a kind of vacuum cleaner to glean and fleece suckers from around the world of their fiat dollars as investors, and, once the bitcoin crash comes, all of those invested fiat dollars will disappear with it helping to prolong this fiat scam awhile longer.
     
  19. Heretic

    Heretic Master

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    For several years, Bitcoin was the only cryptocurrency game in town. Now, several other cryptocurrencies are available, and more will become available soon, so people are spreading their fiat dollars into any array of different ones now. It would be like if IBM was the only public equity stock to invest in and then a bunch of others became available...people would start investing in them as well and then IBM's percentage would diminish or not grow as fast...then they'd be forced to compete against those other options for investment dollars, which is a good thing.

    So, if Bitcoin "crashes" it will be because it no longer has a monopoly on the market, not because it's algorithm is susceptible to manipulation. However, others could come up with a better or different algorithm and thus gain market share against Bitcoin, which is what is happening. Investment diversification is a good thing, no matter the market.

    When one can only get .1% rate of return on their savings account or barely 1 or 2% on some long-term CD and the precious metals market is being manipulated by Wall Street and the Central Bankers, where else is one to make passive investment gains? Perhaps real estate, but then you are probably buying high at this point and the price now is way beyond what a small investor can afford. The only other options (that I can think of) are the general commodities market, the stock market, or, perhaps, more risky ones like foreign currency trading.
     
  20. Ambrose

    Ambrose Master

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    No comparison to other cryptos at the moment. Ethereum is only at about $300=USD compared to Bitcoin at 14,000 = USD.
     
  21. Don Wassall

    Don Wassall Administrator Staff Member

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    Almost all of the trillions of fiat dollars created out of thin air by computer entries since the financial crisis of 2008 via "quantitative easing" have been dumped into the stock market. And the bull market has only gotten stronger, much stronger, since Trump won the election, and the corporate tax cuts that are part of the president's tax cuts should keep it going.

    Corporate America for the most part continues to make record profits, much of it through "free trade" and automation, the replacement of people with machines and robots. The continued economic disenfranchisement of the working class is good for business. I used to believe precious metals were the way to go, but it's going on seven years since silver and gold were crushed and that market is so manipulated that it's unlikely to bounce back any time soon. Weak precious metals prices inspire confidence in the dollar and the stock market and the status quo in general. If there's a way to smash bitcoin and its smaller competitors, expect it to happen. Bitcoin should only be a modest part of a prudent investment portfolio. Many people who "stacked" silver for years while ignoring the stock market have been left in the dust, some of them ruined. And there are pro-silver and gold sites still claiming that any day now, silver and gold are going to "shoot to the moon."
     
  22. Claimjumper

    Claimjumper Mentor

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    https://www.cnbc.com/2018/01/02/bit...or-peter-thiel-is-buying-massive-amounts.html
     
  23. booth

    booth Guru

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    It is below 10,000 as of 1/17/18 half of what it once was.
     
  24. Heretic

    Heretic Master

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    But still up 100's of percent over the past year. Currently at $11,400 on Coinbase.
     
  25. booth

    booth Guru

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    It is below 8,000 as of today. Still good for early investors.
     

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