He still has all his liquid wealth in government controlled currency

>he still has all his liquid wealth in government controlled currency

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>buttcoin

>he has all his liquid wealth in a worthless artificially inflated currency that can be collapsed at any moment

>820 today
>840 tomorrow
>100000 in a year

elaborate, why should china crash the dollar again?

If you believe in any currency you are a fucking idiot. Money is a fucking scam. The money is worth as much as the piece of paper it is printed on. The bank can print money whenever they want, buy your house for free, a house you worked hard to buy, but you sold it for nothing because you have trust in a currency.

>Storing your wealth as electrons and microscopic magnetic dots because gold is too risky

Bitcoin is for retards

news.bitcoin.com/goldman-sachs-bitcoin-ideal-public/
>Goldman Sachs Admits Bitcoin is ‘Ideal Vehicle’ for Public Transactions

It's totally not a bubble, Goyim!

btc is great for micro payments or donations
great for any trade & staying user, protecting yourself against theft/abuse

it's great to use, not so great to hold

No currency is safe to hold. Every currency devaluates quickly. If you have any money you should invest it in something useful, like property, solar panels, farming etc.

>bitcon thread
Dear Newfags, this is what /pol looked like in 2013. Dozens of these shill threads every day.

That's how Dollars are created nowadays. Dollars are merely electrons and microscopic magnetic dots. Cash is their physical form.

Does that mean if you store your wealth in dollars you are a retard?

It's both new friend. BTC inflates till 21 coins are mined. Then deflates from there on. Both are bad unchecked, by 21 mil mined there will likely be a popular alternative. Think of it in terms of gold (BTC) silver (altcoin).

I have the majority of my money in BTC. Good times. Got in around 90 or so.

>great for micro payments or donations
this is retarded tbaqh fäm.
>great for any trade & staying user
true, if you do it right
>protecting yourself against theft/abuse
hahahahaha, scamcoin 3000, it's like the best way to part a fool and his money.

Get real and use bitcoin as it was supposed to be used. To Fuck The System

Fuck off faggot, I know what it is and how it works
Traditional currency is protected by the government and will be constantly held up by the government, because the currency crashing would collapse the country
Bitcoins aren't protected by anyone, except for some BTC farms that can be seized by the government at any moment and can then alter the blockchain
BTC is easier to manipulate than traditional currency, and BTC is just some worthless artificially overvalued numbers, whereas traditional currency has value because it is backed by the government

>Traditional currency is protected by the government and will be constantly held up by the government

>implying that's necessarily a good thing

Buy gold
But I personally trust the government currency more than I trust BTC

Not quite, It goes up massively and then goes down massively.

>Traditional currency is protected by the government and will be constantly held up by the government


Are you really this stupid? Do you know who controls the Latvian currency? It's European Central Bank run by some french guy or a german guy. Latvians have 0 control over their currency.

I have like a hundred bucks in Bitcoin on BTC-E.

Saw they hit 110 bucks today. Kinda nice.

>liquid wealth
>not plasma wealth

Step it up.

Now try cashing out.
You still can't do it reliably after all this time.

I never said anything about Latvian currency
Latvians don't even have currency any more, they use euros, which are controlled by the EU. And it's in the EU's best interest to keep the currency afloat and alive

>he does realize bitcoin is being manipulated n going drop to 200 bucks when trump is elected

Source me im a millionare, just save up n buy it when it drops

there are a million ways to get your cash out of btc-e, just not btc-e.

>he thinks it's a good idea to use the imaginary money backed by random pedos and druggies rather than the imaginary money backed by national banks and governments (who are also pedos and druggies)

>he thinks his dollars are backed up by gold or anything at all

Best goy indeed

>(((crypto-currency))) controlled by Chinese server farms

>until it can't

Prepare your butt because the global financial system as you think it works is collapsing

>backed by random pedos and druggies
what about scammer? Are you racist?

Back to /biz/ with you.
Shit, not even /biz/ falls for the bitcoin meme anymore, they're already on some new cryptocurrency.

What, you mean back in the start of 2013 when it went from $10 to $266 in the space of a few months?

Man those were the times

Just like it did last year, the year before that, the year before that, the year before that, the year before that, the year before that, the year before that and the year before that?
>inb4 2008 crisis
The global financial system took a hit, but didn't collapse

>Sup Forums was wrong again!

Man you guys are slow as fuck, even Venezuelans and pakis are getting on board. For shame.

Yeah, and if you realised anything about the current situation is that there currently isn't an escape for the central banks.

Interest rates are going higher now and when that kicks in to the variable rates on mortgages in January oh boy.

It's going to collapse inevitably. Exponentialy rising debt will sooner or later overwhelm linear GDP growth.

Made ~$10k thanks to bitcoin shitposters, bought some bitcoin at $10, sold them at $900.

Thanks.

This is great and all, but assuming People had Btc, what would be the incentive to ever do anything with them if you know that the value keeps getting up?

I believe in the technology and have some small amount of btc myself, but it's too expensive to buy now and I'm pretty sure I'll never use it other than for hoping to cash out one day seeing that the value keeps getting up.
The second everyone else starts doing the same the coin is doomed

Thread / board full of bitcoin shills. Guess what could it mean.

>what has gold done since the dawn of man

The second everyone starts selling gold its doomed I tell ya!

Russian hackers?

le dogecoin army unite :D

16dMRjSHzyVGJ6xLMSyaboPFjNGgEtFPbk

Th-thanks, user.

>bitcoin
>artificially inflated

Pick one and only one.

The strength of Bitcoin is the fact that it cannot be inflated by a single entity. The supply is fixed. The only way for Bitcoin to lose value is if the overall demand decreases, which is how free market works.

>the (((government)))

>What, you mean back in the start of 2013 when it went from $10 to $266 in the space of a few months?
:^)

You have not been missed.

you can't give yourself loads of bitcoin i think.

due to the way the blockchain works you can only mine and trade bitcoin

what do you guys use bitcoins for

>goes down massively.
ah yes thats why it was a dollar just the other day
wait

this, as soon as someone with a lot of gold decides to sell, the other gold holders will panic sell and crash the market. that will be the end of gold.

Yes, we will collapse bitcoin

will it ever go below 266 again

You can manipulate the blockchain when you have >50% control over it
When Satoshi created bitcoin, he gave himself a lot of bitcoins

So buying and holding is the only think worth doing with bitcoin then?

Cp and crystal meth

I've been holding on to 446 bitcoins for years now. Bought in at $117 in mid 2013.

Decided to put the entirety of the entire inheritance from my grandmother into BTC and swore to myself never to touch it until at least 2020.

How fucking hard do you think I was kicking myself for not selling at the peak of $1150 in late 2013? When it was down at $225 again I thought it was over.

But we're back up, and I'm still not gonna touch that shit for another 3 years and a couple of weeks.

sell it for FIAT and gift cards

Man 2013 was such a year

>he still has liquid wealth
Joke's on you there, Schlomo -- all my money is invested in resources and skills. I do have like 5 ETH and 100ish TrumpCoins though, but I don't pay any attention to it anymore.

The whole "crypto" community is cancer, which is a shame considering the theoretical potential.

Waiting for it to crash to like $70 and then investing a ton.

(((Satoshi)))

Aren't you that one guy who went crazy on buttcointalk over the bear market?

Pretty much.

The positive is that when you eventually decide you want something, you can trade them for it.

Was that in 2013? Might have been me.

> Chinese miners own nearly all of the mining capacity
> Having control of 50%+1 of the pool allows you to manipulate transactions
> Chinese cannot be trusted not to fuck with the currency
>Chinese miners collecting ever increasing fees so you can spend your magic internet money in a reasonable time frame

>nuclear fallout
>all wealth in bitcoin
>no tangible wealth

I thought I was one step ahead!

if that's what its going to do, then you'd be rich already.

The term "Bagholder" is pretty relevent. The "Bearwhale" price drop pretty much proved that a single entity with a decent stash of bitcoin can plummet the price.

If there is any kind of rush to dump bitcoin for actual money only the first few will get away with anything, the remainder will be left with nothing.

Nice. I'm a Bitcoin onekillionaire (1000+)

2014 actually after the death cat bounce. But there were many like you, I remember the guy selling his house, didn't believed it, but might actually been true.

no

What you just said is the reason why bitcoin is good you fucking plonker

Love Bitcoin. Just buy some every few months. Spend the half (on everything you want that you cant get with other currency ;-) ) and keep the other half. works great.

Daily reminder
That the problem of generating string with certain amount of zeroes in the beginning in its SHA-256 != cracking the SHA-256.

Bitcoin does not even come with paper, it is only worth the heat created from useful electricity when "mined.

>after the death cat bounce

Then yeah, I was one of the people going crazy.

But I remember people who were way worse off. Like you said, the guy who sold his house. Others who used up their kids retirement funds. People who took up massive loans to buy bitcoins.

At least I used money that was given to me and I could afford to lose. But I was still sour as fuck when I thought it would become worthless.

so are we like living in a bitcoin depression or something

Below $117 is depression for me.

Anything above and I'm good. Now at $800 it's especially good.

>the guy who sold his house. Others who used up their kids retirement funds. People who took up massive loans to buy bitcoins.

Oh, and not to mention these were people who arrived late to the show and mostly bought in at $800-$1000 and watched the BTC price drop down to $200.

At least I bought in at $117, and it never went below that.

>he has all his money invested in a pyramid scheme that relies on people scamming stupid Redditors to maintain its value

>bought in at $800-$1000
Oy gevalt.

>power goes out
>Suddenly can't access your btc

Nice, seems like a safe thing to put your savings into, I'll take 20! Should come in lots of handy when SHTF

>B-but I have bi....bit coin! Please don't shoot me for my canned food! Just wait for the national grid to come back online and I swear I'll pay you!

>relies on scamming redittors

I should invest then, that aint ever going away

pyramid schemes can be shut down
not even the federal govt could get all of ulbrichts coin

>seems like a safe thing to put your savings into

So you suggest everyone just invest the entirety of their fortunes in canned foods and ammunition?

Might work if you're a poorfag with a very small fortune, but what's the point of a stock portfolio if shit hits the fan?

>power goes out
your biggest problem is not going to be money chuck

This.

Bitcoin was a a tech demonstration made by people who are not economists and being kept alive by bag holders and shills and the occasional sophomoric techie that wants to apply blockchain tech inappropriately.

Not what I'm saying, gold/silver would be better than BTC in a SHTF scenario, literally anything physical would be better than BTC. It's an asset that can literally disappear in a second, you have to be a really REALLY good goy not to see this. Not saying you are yourself, since I don't know you, but most btc people are in my experience.

>buys unspendable fagnumbers instead of gold

ok kid

>buys gold instead of company stock + SHTF supplies (which are water, food, medical/hygienic goods, fuel, ammo - but NOT gold).

The only scenario where you can win with gold is if you have to grab your stuff and flee, but if you prepare for this an off country bank account would be a better choice.

Dude thats 300 k right now

This whole thread is about "you shouldn't trust our current economic system in case it breaks down, therefore buy bitcoin".

If currencies entirely fail, so do stocks.

I don't have gold because I don't think the system will fail, but using BITCOIN as your defense line against that is fucking retaaaarded. What if there's a nuclear war and infrastructure breaks down and you don't have internet access anymore. Wow, so glad I have all this bitcoin.

And I hope it'll be more 3 years from now.

I'm not touching it until then.

Start shilling for bitcoin on reddit

True, bitcoin are even more worthless than gold in such a situation.
But as anothanon posted: Money will be your least problem if such an event happens.

Hodl for the win. Kek is with you.

>using shitcoin and not just buying gold or silver

I mean, I'm a holder for longer than YOU, but I've contemplated liquidating at least some at around 10,000