Someone redpill me on why we don't put all of our money in Bitcoin?

why do we continue to let the jews rule over us with their banks? we've had the technology to get rid of the middleman for years now..

what are we waiting for? daddy Trump to tell us it's ok?

government currencies are enforced by law. at least here

government currencies are enforced by law. at least here

The best time was 6 month ago, the second best time is now.

government currencies are enforced by law. at least here

The problem is compliance. You can have a million dollars in BTC but the second you try to convert to cash to buy...youre no longer anonymous...therefore taxable and jailable.

I put a lot of money in bitcoin, and i pay for everything with it, but its scary to see the network get clogged up sometimes. on busy days it can take all day for a transaction to get confirmed. It scares me that i wont be able to move bitcoin at all when i really need to, so I diversified into a newer cryptocurrency called monero.

but yeah fiat is for cucks

Bitcoin is well designed scam. It is aimed at smart, techie people are absolutely sure that they are smarter than everyone else. And it works great.

Pump up the price, start spamming the chans, techie subreddits, opeds at tech sites. New buyers come in, increasing the price.

The 20 or 30 people who own the vast majority of btc start selling off. The spamming hits fever pitch, and the owner cartel start shorting the fuck out of it.

Price drops, the 'buy on dips, it will never be this cheap again' keep buying, price dives off a cliff, newbies sell to the cartel buyers again. Cartel guys just made 500USD per btc.

Wait 18 months, repeat.

The only people who make money on btc are liars and the top owners cartel.

fuck your government currencies enforced by the bankers law.

I just watched The Money Masters and i'm ready to pull all my money out of the bank and buy bitcoins.

Before you want to invest in Bitcoin you should read every post in /r/buttcoin...

1. it's too volatile if you cannot afford the risk
2. there's the danger of a single holder having 50+% of all bitcoins which would make it vulnerable
3. its liquidity is questionable, can't convert at a moment's notice, especially when there's turmoil

there were a couple of great opportunities for pump'n'dump like chink capital controls, early birds etc

I prefer pic related for long-term store of value

government currencies are enforced by law. at least here

your problem is you're looking at it as a pump and dump stock instead of actually using it as a decentralized currency.

in short, you're a idiot.

If the cunts that mine would do another hard fork we could fix that problem and others as well.
Centralized mining is a HUGE problem.

...

Bitcoin exchange rate is based on the fiat money.

BTC is considered a commodity, not currency

Lets assume you are accurate. Its just spreading bitcoin around every time they do it.
Its not mainstream yet.

Diversity is the solution to every issue

Bitcoin is not ready for normie usage, its primary use at present is speculators going long on it by holding, it has numerous structural problems. The money of the future will definitely be a crypto-currency using a blockchain, but bitcoin is not that currency.

because i don't want to give my money to an anonymous chink for imaginary binary-points

>fiat currency
>money
pick one

Wrong. I had 185 btc at one point, and used it to buy flights, hotels, and a tv. I was a true believer.

But I, and anyone else who thinks it is a currency, are stupid. It is an out and out scam. Buying now, and getting 200USD of value from it? Meanwhile the cartel is collecting USD in their bank accounts.

You will learn, then you will be making this post to the next generation of victims. Just wait.

>imaginary binary-points
you are aware that central banks of today and their fiat currencies are exactly that - entries in some private database not unlike a blockchain public ledger

I only buy bitcoin as and when I need to use it
so it makes no difference to me what the exchange rate is

From the very beginning, especially when related Coins started coming out and there were a bunch, it reminded me of RuneScape merching.

You can say it's one thing all you want, but you can't escape the reality.

its something made of nothing - a byproduct of an algorithm that is supposed to sell hardware > SCAM ... the coins themselves HIGHLY VOLATILE value, stored somewhere at least temporary insecure, only worth if you're able to use it for the purpose ...


too risky ... the only thing i've used BTC for is to buy steam games with VPN and pay with it

wouldn't even know where else to spend BTC for stuff i'd actually buy

wouldn't invest shit in BTC

Weird, I could have sworn I spent BTC on BlackFriday. Almost as if institutions use them now. This is fucking odd user, we need to investigate further.

How do you become a victim of bitcoin if you are spending it and the price is only increasing?

Not really. As everyone knows, a small number of people own most of the liquid btc. New buyers come in, get scammed, and leave.

If you believe the graphs they put out about number of active addresses, network effects, etc, etc, you are going to lose. The number of 'real' owners has likely decreased in the last 2 years. That is why the spamming has started....they need new money to push the price up.

And remember, you are buying their 200USD coins at 700USD. They will buy them back at 200USD in a year or so.

you dont have any money

Good luck. I hope you don't lose more than you can afford.

I kind of agree with you. BTC is amazing, but for normie consumption and the structural problems as you said. Can take very long for transactions to clear.

So how is Bitcoin any better? Its a currency pulled out from air, atleast the dollars and euros USED to have some sort of backing. But bitcoin is just some guys (an anonymous chink i guess?) genius plan to get sick-rich on the expense of gullible people.

Same here, it is absolutely way too volatile for anything but long term investments or immediately buying drugs

I love the idea but the only benefit is that it's clean even if bought from your primary bank for 99% of uses, otherwise you might as well use USD because if the dollar fails bitcoins are sure as fuck not as good of an investment as literally any other currency

>Wrong. I had 185 btc at one point

Sounds like you are the problem.

You can but the exchange rate is very volatile it would be like gambling.
The chinese already store their savings as BTC to hide it from daddy government which is why its so big there.

not arguing for either standpoint, I consider only gold to be a viable long-term store of value

tech and approach-wise, blockchain is better suited than some oracle table for the following reasons:
-hasn't been cracked yet
-there's no superuser DBA with an ability to fuck shit up with SQL
-it's public so no fishy transaction goes unnoticed
-it's encrypted so all transactions details are visible only to counterparties of it
-there's no possibility of pulling amounts out of thin air aka QE fiat happenings

Bitcoin is apolitical. That alone makes it better.

Buy in China, transfer to Western exchange, sell for USD or Euro. It isn't an investment, it is a method of getting dirty money out of China.

Is there a link or resource to a more in depth study on how BTC is a scam for people like me that don't know much about its nature?

Or was all this analysis based on some personal loss you experienced?

Either way, thanks for the info in advance

No you spent USD to buy BC to buy goods and services or assets

The decentralization of bitcoin is a fallacy because it is 100 percent tied to currencies outside of BC

>hurr there's no central bank to cause inflation or deflation

No there's just the market itself, which responds to the other markets in the world. What is the pro and con of this? You think central banks are a poor operator?

How much hyperinflation or deflation have you experienced in the US friend?

>dirty
any kind of chink money, they have limits or even blanket prohibitions for taking out anything out of their superheated """economy"""

>bitcoin
>not fiat
Its exchange is based on real currency so theres no difference

>bitcoin

How will you pay in cash?

Just look at the value of bitcoin over time. You can "lose" money when it goes down and gain money when it goes up, but it has had an overall steady increase since it has existed. If you invest for long periods of time it's not really possible to be "scammed" and I have no idea what the seamonkey is talking about with that.

It's designed to be deflation in nature, which is bad.

Not as bad as hyper inflation, but still bad.

>here's the usb stick with a wallet containing the exact amount required LMAO

Anyone with a clear head should be able to look at the lhen that was boast crash and what happened to understand.

As far as I know, no one denoes that a group of big owners got together and colluded to drive the price into the ground. What was it? A 300K bitcoin wall at 300USD? When that was bought, they started dropping 10k and 15k coin market sells several times per day every day. When they had soaked up all the incoming capital, it dropped like a rock below 200USD.

Anyone who has been involved in btc for a few years knows. But btc operates on the Greater Fool Theory, and they spam everywhere to get those fools.

...

>owning currency.

I prefer equities and index funds and property. Holding huge amounts of any currency is retarded.

Cash is trash.

because it's a ponzi scheme you dumb fuck

He makes it seem like we should have our own digital commodity to scam the normies with. Call them keks or something.

>Leave fiat currency
>For a somehow even more worthless fiat currency
Gold and silver are the only real currency. Everything else are jewish tricks.

You can't just wake up one day and decide to print billions of bitcoins like a bank does.

>fiat currency

I don't think you know what that word means do you?

You also can't exchange bitcoins without a computer, which, in the case of financial collapse, makes them slightly less valuable than a grain of sand.

Space Elevator bread

but if the bank did so you would still have the same value of BTC as it is pegged to your currency you retard

>Implying it makes a difference if a government or some chink says it's a real currency

just like you cannot synthesize gold which is portable tax-free across the globe and always in demand

what's missing at this stage is the divorce from the cancerous COMEX spot

there wont be a financial collapse if bitcoin is the only currency.

why doesn't anyone get this?

i'm not saying we should invest in bitcoin on the side. I'm saying we should ditch the federal reserve and their USD's.

Because you're a muppet

That still leaves literally any other disaster situation.
What in the case of war? What if a flood or a hurricane goes through the local power plant?

Currency you can't hold is useless when shit hits the fan, and that's precisely when you most want something to barter with.
Are you willing to sell your wife to a mexican cartel because a war fucked up the power system and you really need a burger?

I don't yet have much trust in the scheme, it very well could be prone to NSA backdoor attacks even if your private key has never went through your computer and you generated your public keys on the paper.

This year has been pretty good. Made almost 200% profit from trading this year. The real problem is to convert it to fiat and not get jailed.

>converting bitcoin to fiat
>ever

fuck off

We need to buy gold instead :^)

you could buy gold bars (Muenze and Argor Heraeus mints) from a retail broker in my cunt using bitcoin

I want to buy a car, so I need a lot of money.

I've actually been shielded from mass inflation because I've been holding BTC for a while. So purchases made on black Friday were essentially just profit taking.

Sorry, I don't need (((gold))) bars.

I don't think you can go directly from BTC to Gold.

currency you can hold is also worthless when shit hits the fan.

try giving paper money to the mexican cartel when they want to gang bang your wife and steal your food.

...

I'm talking about gold and silver, of course paper is inherently worthless.

It's currently inflating. Will deflate after all has been mined. By that time I'm sure popular alternatives will take over and BTC will be more of a store of value instead.

i had a bunch of money tied up in mt gox but that fucker stole it all. Got a bunch of letters in japanese about bankruptcy proceedings but I just gave up on it because it was complicated.

That was when I stopped buying more bitcoins.

if we can meme a president into fruition, we can meme a new national currency. time to get serious boyos.

bitgold does

It's not pegged. It's BTC vs x currency.

Price update, BTC sitting at a comfy 812

It's all open source for this very reason. Exploits are in plain view.

>what are we waiting for? daddy Trump to tell us it's ok?
Trumpcoin FTW

It doesn't matter if no one is willing to sell you shit. At that point it's every man for himself, you're not going to just prance around buying things with your gold bars.

Because you have to trust the people who made it who are realistically going to be CIA assets by now if they're not dead.

It's open source.

praise kek

CHF is trash? Kekeke

>portable tax-free across the globe

how so? My concern with my gold and silver are the tax implications bringing into another country.

ITT: Cucks defending the Jewish middle man

Bitcoin is the way forward

portable=one can carry quite a lot of it inconspicuously because top notch density
tax free=buying and selling isn't taxed anywhere unlike silver, palladium and platinum, for example

Buy gold coins not ingots.

Because you can't get your money out of bitcoin and when you try to you're not getting anywhere near it's speculated "value".

It's a ponzi scheme.

lol, cartels @ a voluntary 100%free market? you dumb

people value btc because its a big innovation, avoid middlemen (banks, states) while user and safe

cons?
its bad to use to keep you wealth as it is also fiat money (without unknowns of its inflation)
it is great, perfect to use as money

turn gold to btc and use btc and you get the best of both

idiots do not really percieve the huge value that btc offers (you blind by it being understood as an investment)

but i have all my monies in bitcoin

I pay state sales tax at local coin shop (the reason i buy majority online) and have been told that I have to pay taxes (or it gets reported) when selling back anything other than american gold eagles.

I guess my main concern would be getting 20 or so ounces of gold coins past TSA or having to declare it (pay taxes) at customs. (Not to mention 4000 ounces of silver)

Maybe not bitcoin, but crypto currencies for sure.

Also lol at the shills pushing the shiny metal Jew - as soon as WW3 hits, your useless gold will be absolutely worthless. If you want to invest in metal - you should buy metal that has industrial uses.

there's literally nothing wrong with gold
except that bitcoin is better (as long as there is internet)