How Long Till Bitcoin Crashes?

Will ETH Replace It?

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Never (there's a new floor) and No.

>Will ETH Replace It?
perhaps eventually, but not soon. Eth is overly complicated and won't catch on like bitcoin, which still isn't that much in the grand scheme of things.

Probably never
No, it is too hard to use

It will crash despite what you coiners say. I sold $4k worth of Eth already. Still have a grand left. I know it will crash. Vitalik probably cashed out by now and is working on something else probably. Doubt he gives a shit about his pet project anymore.

you should go to >>biz there is much more informed anons

I dont understand how Bitcoin works as a currency.
What is it backed by? Or is it just another (((fiat))) currency?

>>/biz/

eth is fucking gay. they reset a block to get back stolen money. garbage protocol and community. I still trade it to stack more btc though

i am retarded

>What is it backed by?
nothing, and that means jack shit. Any form of currency only has value because other people think it does.

i agree satan. I made a quick 30% this week with eth.

Why does that girl trigger my uncanny valley?

>trips
deus vult eth is gay
Proof Of Work faggot en.bitcoin.it/wiki/Proof_of_work

A system where the currency is digital and finite. Some neckbeard said its valuable and managed to convince many people.

cuz she looks like a real doll

my bet is on xmr or dash, but btc will stay no 1 for a few years.

noice same here. also bought monero before the pop..its been a good week

So its just like every other fiat currency, but no state fixing the rates?

yeah fuck that Im not getting involved, I'll invest my money in freeze dried beans and steel.

dem talons

It is fiat however the value comes from what you can do with it. Best analogy I've heard is email - no intrinsic value (just 1s and 0s), but the ability to send free instant mail electronically has value as a communication tool.

They devaluate steadily due to the way the protocol generates new ones.

Cryptocurrency crashes when big middle man sites get busted by the authorities. Its value is directly related to drugs. I think not even weapons can sell properly in the darknet due to the lack of demand (smuggling is also harder).

>So its just like every other fiat currency, but no state fixing the rates?
basically yea. A lot more volatile, which can be fun, but also risky.

It's backed by maths n shiet.

All the computers in the network try to solve a mathematical equation, and when one randomly does...they get the "prize". But the total prizes are limited, and so every X number of prizes the reward is halfed (till it becomes infinitely small as it nears the limit).

The networked computers can also make small transaction fees for processing transfers between "wallets" or accounts. They verify the sending and receiving have the bitcoins they claim to...and this is all public record called the blockchain (which is also part of the equation used to get a prize).

Buttcoin in a nutshell, from someone that learned about it when they were 10c each...so my info might not be 100% accurate.

>Proof Of Work faggot en.bitcoin.it/wiki/Proof_of_work
yea but that's not what people typically think of when you say "backed" by something

which exchange do you trade on?

sage, report

Not Sup Forums related

what is wrong with her face?

smart contracts in monero are extremely hard to make, as it is super private, so I doubt it.
the equivalent of the energy spent on mining bitcoin each year is the energy that Ireland uses in a year. So yes, it is backed.
Mercantilism is not that close yet.

Melissa Lori

twitter.com/bitsysbikinis/status/682303819393449984

Technically bitcoins are worth at the bare minimum what it took in electricity costs to run your miners (computers solving the equation).

It's "the new thing" because the accounts don't need an ID or physical adress or any real association with you, it's like a prepaid visa card on steroids. So you can buy drugs n shit without having the money traced (if you do it correctly)

>the equivalent of the energy spent on mining bitcoin each year is the energy that Ireland uses in a year. So yes, it is backed.
>Mercantilism is not that close yet.
not sure what your point is. Simply spending energy on something doesn't give it inherent value

>considered investing in bitcoin
>find out that like 99% of all the bitcoin is owned by China

I predict a massive crash of bitcoin and it will never recover.

Why? (((some people))) will not allow a non fiat currency to exist, there is a long long list of people in jail or dead (like Qadaffi) who tried to make own currency.


It will likely be subverted somehow and once people lose trust its ova.

Money is what people give value to it retard. Hell, englands money was a tally stick for a couple hundred years at one point.

Altcoins are for suckers.
The only coin that has a chance of taking over bitcoin is XMR

Sorry to hear you go user, you lost an opportunity

This is the new normal.

>will ETH replace it.
Not really. They'll co-exist. Eth is the silver to bitcoin's gold. Dash will probably be the copper that's used for every day transactions.

The only thing that gives gold value is it's ability not to degrade over time.

So.

who the fuck do you think mines it all???

Who is she?

eth is specialising in smart contracts, but dash or xmr is better as currency imho.

don't worry, it is not fiat
>wants an infinite currency
Whohoooo, looks like someone loves FUCKING INFLATION

>The only thing that gives gold value is it's ability not to degrade over time.
thats not it at all. It's simply that its always been valuable because people have always thought it was valuable because people have always liked shiny shit.

several. polo, kraken, btc-e, formerly finex. I diversify.
That's exactly why satoshi was anonymous and vanished

It will go down again, but not CRASH like before.
I'm just waiting for China to start again, so I can go short and earn another vacation in an hour.

>digital and finite
thats literally the point retard

>I diversify.
which do you like best? I use polo pretty much exclusively

I just don't like the idea of investing in something when its value is controlled entirely by the whims of a single country

>China decides to finally ban bitcoin or some shit
>bitcoin is now worth $1

kraken overall but polo is pretty good too. none of the exchanges have enough bandwidth to handle huge volume days still imo

yeah but eth is too hard to use for the average normie, so it will only be used by technical guys in corporations to make big complex deals.
>but dash or xmr is better as currency imho.
Yes, monero is private, an that is good, use a decentralized exchange, like localbitcoins.com or bitsquare
>bitcoin is now worth $1
BUY HOLD BUY HOLD BUY HOLD BUY HOLD BUY HOLD BUY HOLD BUY HOLD BUY HOLD BUY HOLD BUY HOLD BUY HOLD BUY HOLD

is it that different than having all USD?

yeah, what can go wrong with a fully controlled gov currency (and the fucking federal reserve). No thanks.

BTC has been around 8 years. Most likely it will be around at least 8 years more.

That was in its testing phase. Its in full swing now so frikc off

Where the fuck do you even buy dashcoin?