Everyone tells me crypto is a scam, waste of money

It's completely new uncharted territory. It will be huge in the future but only the real tech nerds and people who care enough to research realize it. Everyone else is in the dark and is too busy with their lives. There are many technologies on the rise but this is the one you can actually get in on.

burned

lol

>20k fake money
No, I spent like ~5.5k buying 20,000 LINK

I understand the roast but I just wanted to try out what it'd be like to research on Jow Forums and then invest, and it showed that browsing here and taking advice managed to earn me money (hypothetically).

I need to wait til I get a full time job, then I'll put money aside to invest. I'm still a student

Normies use money for instant gratification. They don't invest or see money as a vessel to make more money.

How many of them are familiar with complexity or the P versus NP problem?
If they're not familiar with it they are unequipped to fully appreciate Bitcoin.

>Everyone tells me crypto is a scam, waste of money
stop listening to plebs

Don't most people with full-time jobs invest? It's pretty much standard practice, with the basis of investing being on 401(k) and then eventually moving on to real estate and other things.

No. Not even close.

Is this bait? No, miners look for what is called a nonce. What that user means is that normies can't trust themselves with using a private key to access their wallet. Educate yourself.

I'm familiar with P versus NP, vaguely. Isn't it an unsolved computer problem?

No. Absolutely not. There is absolutely zero requirement to understand P vs NP to fully appreciate bitcoin. All you actually need to do is watch a couple of educational videos about basic ledger stuff. Watch “the money makers” (1996) on YouTube and then you’ll appreciate bitcoin.

Mind pointing me in the right direction or filling me in so I can understand more? I'm really, genuinely interested in all this.

You don't need to understand P versus NP to appreciate Bitcoin, but if you don't intimately grasp the limitations of spending energy through time to discover a suprise -- which is the basis of Bitcoin's mining algorithm and cryptography at a whole -- then you will not see why Bitcoin's Proof of Work is so marvelous.

There is comprehending, and there is fully appreciating.

lurk moar.

youtube.com/watch?v=ZKwqNgG-Sv4

fucking newfags stop buying LINK REEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE

>no money actually spent, no wallet is connected and I don't even have one
so you didn't actually buy anything?

So you played the equivalent of zynga poker. Fucking wew lad.

I've been lurking for a bout 2 months now, trying to pick up as much as I can, looking up things on Investopedia, got most of the crypto terminology down. I intend to keep on lurking.

Thanks, user. I'm going to give it a watch now.

bitcoinmining.com
Noob literature but you have to start somewhere. Look for some youtube videos explaining it as well. Don't stop until you can make sense of the bitcoin whitepaper. The actual math isn't important but you need to understand the concepts behind it.

I have complete faith you will get it.

Also learn what a one way hash function is if you aren't already familiar with it. Try to make sense of how they work. I'm not well versed but a big part of it involves modular arithmetic.

Really, thanks for all of this. But I have a question, which is, how long have you been in on crypto and how long did it take you to get genuinely involved in the market?

I got into Bitcoin October 2012. I knew the P vs NP problem intimately since I had been mining tripcodes for years prior.
It wasn't until about 2014 that I realized Bitcoin's Proof of Work and lack of leader was the breakthrough that other coins cannot replicate.

i bought in around june and july, spent about 2+k to buy 11k linkies atm my profits sit around 4-5k
comfy enough to handle even bigger dump and still break even

Good, remember to not get emotionally involved in these shitcoins. Never actively participate in a shitcoin community beyond your personal research. These coins are only to make you more $. Never forget that.

Why are you wasting our and your time with useless questions?

If you keep doing this you are not going to make it

>Why are normies so afraid of crypto, again?
They weren't. They bought in. That was the previous bubble. Why would they come back after that?

So would you say that people who've studied computer science for quite a while pretty much have a leg up on others when it comes to crypto?

First bought bitcoin in late 2013 after it broke $1k. Once it crashed in 2014 I gave up until maybe a year and a half ago which is when I started getting back into it. So it took a year and a half of research for me to get to the point I'm at. I didn't start to really sperg out on this shit until around April though. Not surprisingly I also haven't gotten laid since April. Doesn't matter. I know exactly what I'm doing. I have spent the last six months finding the most bleeding edge projects going on in this space.

Yes but only in what they're told to invest in, they analyze nothing but the best 401K option according to their firm's rating system.

Not necessarily, on one hand someone familiar with Comp Sci is aware of complexity at scale, but they may not be economically informed or they may not understand game theory.

Comp Sci helps, but it is not needed.

You d

I've bought millions worth of BTC on delta too. It's free money why aren't you all doing this?

I can't code, I only know conceptual stuff. A lot of the people who got into bitcoin super early are the ones leading development these days, so they definitely have a leg up over us.
Fags like you said the same thing in 2014. I'm not missing another moonshot because of what some user has to say on an Albanian rug making forum.

Completely unnecessary. Bitcoin's purpose is to provide verifiable, immutable, and decentralized transactions. Appreciation is irrelevant to investment. By your reasoning, unless you know how every single part of your computer works down to every little detail (you don't, only a handful of autists do in the world) you are unequipped to fully appreciate your computer.

If you had stable jobs you would know that nobody talked about crypto around the coffee machines at work, while every office on earth did in 2017.

Enjoy wasting your last shot, lard lad.

youtube.com/watch?v=_160oMzblY8
youtube.com/watch?v=bBC-nXj3Ng4

If you don't understand P vs NP, then you may end up thinking something like Ethereum, BCash, or Ripple does everything Bitcoin does. You may even suggest that Proof of Work is wasteful.

It is by having the full understanding of P vs NP that one can appreciate BTC's hashrate as a digitial commodity of security.

I point this out to avoid OP going down the shitcoin route.

>I'm quite new to it all
You missed the normie bubble, so tough luck.

You don't need to know every detail to know how a car works, but you should be familiar with concepts like momentum to apply it in your decision making to avoid crashing it into something.

Has anyone at the water cooler been talking about Holochain, Tauchain or FOAM? See you at 1000x in a few years.

I think that the true normie bubble has yet to come. The last one was the pre-normies. The people that were close to the bagholders of that time. The true normie bubble will come when normies can buy themselves through a fiat ramp that even a toddler could buy at. We would break 50k. After that though, its either adopt or crash to 0.

>Has anyone talked about shitcoins?
No. And they never will. That's why they will never reach 100x. You need people to buy your shitcoins to increase the price. But they won't, you delusional retard.

I finished up the video. Good watch, helped me understand Blockchain and one way hash functions too, thanks for the rec. I still have lot of studying to do.

But there's still profit to be made, isn't there? Why neglect that?

Thanks for the help, I'll be looking at these too.

Last bubble had IT people telling me about Ethereum and shitcoins that will moon, it established that basically everyone in the civilized world has now heard of Bitcoin its existence, but that's about all.
None of them can tell me how Bitcoin works or the differences between the protocols, their inflation rate, etc..

The real normie bubble is at least four to seven years away.

>The last one was the pre-normies.
Do you honestly believe this? Fucking seriously? There were fucking instagram stories. Everyone everyone was talking about fucking bitcoin and even shitcoins.

>But there's still profit to be made, isn't there?
On this market? Where and how do you pretend to do that?

You'll know in a few months. The best coins haven't even been shilled here yet.

Bitcoin has been the largest rabbit hole for me, shaking the very foundation of how we consider truth being discovered and coming into existence, how energy becomes information.

Best of luck.

3Blue1Brown is based, makes me wish I wasn't a brainlet.

>Trading shitcoins
Why not get a "Born to Lose" tattoo in the chest at this point.

>"You'll know" / "You'll see" / any other variant
You don't know jack. Of course some shitcoins will get attention from thirsty cryptofags like you since crypto as a whole is dead. Then the creators will exit scam like they always do and your bag holding will only increase.

Enjoy it.

Nope everyone here is a retard who deos the opposite of what every successful trader is supposed to do.

You don't understand what it is to have real money on the line. The money riding in this market is real and represents hours of physical and mental labor.

That guy is right, you don't know shit about this market. You've never had a real win and you've never taken a real hit.

>You've never had a real win and you've never taken a real hit.

Have you for either? Is it immensely stressful?

I will post these screenshots later and I hope you kill yourself when you remember writing this. I know actual devs in this space. I know what the big names are working on behind the scenes that you haven't even seen mentioned here because everyone aware of them is waiting to fill their bags. What qualifies you to speak on any of this?

this

Yes. I'm willing to bet the majority of people here have experienced both. It's stressful as fuck for holders when your portfolio is hemorrhaging value, especially when you have a significant amount in the space.

You haven't had a full time job, have you.

>I know the devs of yet another shitcoin that """everyone""" (A.K.A. All the thirsty faggots in here) will want to buy because of reasons.
I am no genius, neither I have privileged information. All you need to know is already in plain sight, user. And that's why crypto as a whole is a dead horse, moving only when poked with a stick out of desperation.

Nope. Not yet.

I believe it is a coping mechanism that if you are right you will not share information so it must be false and since he believes it is false he is shitting on you to cope with it
I think he comes from the mindset that no one can beat me kind of thing
like the kinds of people that scream at a computer monitor when playing video games

Speculating
pardon scattered thoughts
but this is typically the case when someone is butthurt they just want to be the best

Attached: 1539773954590.jpg (200x267, 20K)

How exactly does a random stranger on the internet losing their savings on a shitcoin scam make me any better?

Easy: one less person ahead of you
now back to the previous thing
I can kind of see what you are getting at here
Do you think all of crypto is flawed or everything with a leader/representative is flawed (non BTC)
Because most shitcoins I have seen can easily be scams because nothing is really stopping themm from doing it

>crypto as a whole is a dead horse
WEW LAD
This is all anyone needs to read to immediately discredit your opinion on the matter. You may very well to be right about us never seeing 2017-tier gains, but there is more going on behind the scenes than ever before.

Well, thanks to all those who gave me links to those YT vids, other info, and even those who were harsh to me. Definitely learned something today. I'm only 20 years old but I want to get an early start on understanding how investments work.

investments and crypto work*

>Easy: one less person ahead of you
I'm not a retarded ancap, so that brings me no joy.

I think that making shitcoins is very profitable, because some faggots always take the bait and whoever has most of the coins can manipulate the market to pump and dump on the poor delusional turds like

man I'm so happy for you I try to have this thread every few months and it goes so far off the path
good luck me boy I will definitely use your thread for some references

Attached: 1527209125518.gif (435x250, 554K)

awesome stuff user, thanks a lot

You made a distinction between investing and speculating, so you might not be completely lost.
If you actually want to invest, simply watch this documentary. Unlike the other links, in this one there are serious people, Nobel laureates, and so on. They explain why index funds are superior to all meme investments that get shilled in here. You don't need faith to believe this, but just math, logic, and listening to it.
Godspeed, user.
youtube.com/playlist?list=PLs7aqcZt9oQxBr4uAAPuJzQB5y8AQ3Vnp

Attached: john_bogle-Vanguard.jpg (955x932, 62K)

lmao I assumed that it would go onto the "you're a retard" roast session path honestly

anyhow, glad that you've also benefited from this thread

Something tells me you still think this is about replacing fiat, which it absolutely isn't.

I don't think ancap really has anything to do with it
this kind of characteristic I described can be seen with people playing anything or doing really anything in a competitive atmosphere
perhaps I was just off the mark with my interpretation of the situation

>I think that making shitcoins is very profitable, because some faggots always take the bait
agreed, if one can make a crypto
people will buy into it
at that point it just comes down to if you want to scam them
thats the issue is it has someone in power that is what the other guy was getting at earlier the coins with people in control are setup to fail because its just unchecked power

I don't know why he backpedaled off this point when talking about new crypto perhaps he is in on a crypto that is set up to scam but will pull out beforehand I don't know if he is a moral fag or what I'm just trying to make sense of your misunderstandings of each other I think you all are just missing what you are disagreeing on

Many thanks, I'll definitely be watching this.

Of course it doesn't. It's just another tulip.

I'm glad to hear this. My good deed of the week is done. I'm off until next month. Take care, user.

kys faggot

?

'Kys'
Slain, B XD

based ? poster

>So would you say that people who've studied computer science for quite a while pretty much have a leg up on others when it comes to crypto?
For sure, yes. It's an edge.

Crypto is money, gambling isn't what crypto is about

It might not be what it's about, but it seems like a lot of people on here treat it like it is

this

modexp is used for the public key crypto behind addresses and private keys..

mining is essentially taking the hash H of a block, and finding the correct nonce N such that the hash HASH(CONCATENATE(H, N)) is numerically less than the difficulty.