Is bitcoin the future?

Could bitcoin single handedly destroy central banks?

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no

/thread

Yes, but the time is coming for the market to decide if it will allow it or not.

It either scales and becomes money, or it gets jewed by (((blockstream))) and a second layer is thrown on top of it before it is ever allowed to scale on-chain, thus diverting most of the transactions through their patented hubs.

Bitcoin has a long way to go before that happens.

No, but for corporations, other forms of cryptocurrency are.

>bitcoin is secure and traceable
Perfectly taxable & transferable

You will use your "wallet" to spend what big brother gives you
The world central bank will co-opt it

You can make it so it's not traceable.

>one world currency
>no independent monetary policy

Sounds like something that caused a crisis in Europe.

...

Good
Then it will have to stay small
To not draw attention
And only deal in rncrypted channels

>good luck with your microchip

If I were in charge of a central bank i'd be investing heavily in blockchain to digitalize national currencies before cryptos get too big, the same with credit cards, banks, etc. If they are quick enough they can make people think they're still needed but if they don't act quick and too many people start using cryptos and realize they don't need them they're fucked.

Bitcoin can't be money and to think otherwise shows how little you know about it.

It's a global ponzi scheme pushed by fake news and manipulated by asians. Don't be holding the hot potato when it comes crashing "again."

No, it's gonna lose in terms of market cap to Ethereum in like a year, and I thought this would happen to BTC since it was $6 so I never invested in it.

My prediction was correct but my decision not to invest was stupid as shit.

Although banks differ tremendously from the rule of cryptocurrency. Banks hold your cash and use it. Owning a blockchain or something is far different. You don't "have" their money. A bank will probably lose money by focusing efforts on cryptocurrency because they'll unintentionally grow the market which would put their primary function out of business

Heh, if you only knew the wonders of a proof-of-work system that effectively solves the Byzantine Generals problem.

Tell me again how an immutable ledger that requires no central trust and produces a scarce asset with inflation control, and can be transferred between anyone cannot be money.

not now, not ever. currency control cannot by definition exist without a power base (e.g. humans) attached to it.

Please listen to this. I think you'll really really appreciate it (not sarcasm) youtu.be/WdrSP0V-KLg

Probably why currency had been so fucked up and manipulated for the last 5,000 years.

I'd like to try a math based system for a while

Go have a look at Ethereum over the last few days and you'll see why crypto is meme shit where the few make tons of money off the many

>go look at ethereum

How about go check out poloniex and look at the 20 cryptocurrencies that have booked the past 3 days. Some rising over 40 %

Ethereum has a much higher inflation rate than Bitcoin and nothing goes up 400% in 4 months without returning to norm.

Yes
/thread

Everything that is actually being traded is a sea of red

Look where they were a day to two days ago.

Short answer YES. That's what it was designed for. Anyone who says different is a shill for the (((banks)))

>one world currency
Not necessarily bad since it is not government fiat. If iy were I would be against it.

>monetary policy
policy is for governments. bitcoin has nothing to do with any govt.. People are this dumb.....

I just bought a bit of bitcoin. I've made three transfers with it so far. Each transfer cost me a significant portion of the total. I sent 3.5 mBTC and had to pay 0.35 mBTC as a transfer payment - about 10%. I can't imagine bitcoin taking off while payment works like this.

Now, some other crypto currency, ideally one with no fees - that could take off.

Dude. Why the fuck would you transfer your money right now¿ Buy btc and then transfer to monero or ripple or the like. Also stop using places like coinbase. Rates are retarded. Localbitcoins and poloniex are your fwend

And neither can paper you idiot. Stop trying to sound like you know something. Bitcoin never claimed to be money, it's CURRENCY you freekin moron! Just like your paper shit "money". LOL

It's not for micro payments, it's a store of wealth. I transferred 65,000 USD for $1.50, that's pretty good. There will be many blockchains, all specializing in different things. Also, sidechains, lightning, etc.

If this is true you're either incredibly stupid or fantastically magnificient

I'm not so sure user. Ethereum is a goldman sachs jewcoin and even had Bilderbergers behind it. Might be good as an investment vehicle for a while, but I don't truth Eth.

I'm not complaining ;)

No one really good EMP burst from the sun and it disappears.

The problem with our currency is that it *IS* under human control.

>cannot by definition exist
By definition? huh? What definition?

I think you're probably too low IQ to understand how this all works.. Bitcoin exists, it is real, it is useable and defined by mathematics.

Looks like another newfag is holding no potatoes

Go make some coins, son.

>fiat currency is worthless
>spends life savings on virtual ponzi scheme pump and dump binary code

>Literally all of bitcoins value is based off the thought process of a dollar/financial collapse of the current monetary system.
>LITERALLY THINKING IF THOSE EVENTS OCCURRED THAT INFRASTRUCTURE/INTERNET/ECT... WOULD HOLD UP ENOUGH FOR EVERYDAY LIFE TO CONTINUE WITH A VIRTUAL CRYPTOCURRENCY!

It's a meme

I use monero.

lol,
BTC now at 45 billion
All cryptocurrency now at 100 billion.

Catching up quick nocoiners

upma.org/

But... if you think it's for storing wealth, aren't you acknowledging that it has no real purpose other than investing in it? If that's so, then it means you think of bitcoin as a kind of Ponsi scheme - the value will keep going up, provided ever more fools keep buying in. The downside is that there is no value and it will eventually blow up. In other words, you seem to be using it as a long term investment vehicle while believing it will fail in the long term.

This is actually why I started to buy bitcoin. I wanted to buy some coin that had no transfer cost (e.g. IOTA). The easiest way I could figure out how to do that was buy IOTA on bitfinex with bitcoin.

>crypto is meme shit where the few make tons of money off the many
That would be true of any market that is that small in size (compared to our economy) and limited in supply. Has nothing to do it being crypto. I made money but I don't speculate. I hold long term. So far so good.

Good man. It's going to get popular soon.

ether and associated coins have been crashing for the past week

everything is going down for weeks.

Gee that sounds like capitalism!

No not really. You can store on paper or even in your head (not advisable) if your memory is good and you trust it.

You know that cashless society and the one world currency the jews have been lusting after for hundreds of years?

That's bitcoin.

>long term
everything fails in the "long term"
btc is pretty safe as long as the cia uses it for their illiicit narcotics transactions

not until its marketcap goes truly ballistic, until then it will be something to consider, and enter, for the future will reward those that have accumulated it

>self /thread
It doesn't work that way, faggot.

This right here. They will co-opt it most definitely.

you can't insert kike functions into it, period
how can you tax anything that does not enter into the centrally planned economy? BTC is all about user to user commerce

fag here. I believe that it has the potential to, but not anytime soon.

/thread

It's accepted in Seoul. It could easily work as a global currency, but there will always be hoarders that ruin that.

btcs transactions take way too long for it to be good currency. its also way too volatile atm.
as a store of value its pretty watertight tho

>everything fails in the "long term"
Yeah, by that logic I should invest money in lottery tickets, because though that will likely fail - everything fails long term.

ETH down another 10 bucks over the course of this thread
Where will it stop, nobody knows

Good, fuck eth miners. My video card died and the replacement is 2* more expensive than it should be because those fuckers keep buying it all. That said, I'm happy for it to shoot for the moon right after I get my next card.

lottery tickets are fail at any term

No.
The bitcoin's blockchain is already growing at a faster rate than the capacity of harddrives available on the market.

I believe this is true, whats interesting though is that nakamoto could have gone with the finance industry with it but instead he went public. He knew where it was headed and decided to allow the people to be the first to have it not the banks. The main thing to remember is that the huge innovation is the utilizing of the blockchain, bitcoin will not be the NWO currency but the NWO currency for certain will use blockchain technology. The chinese are already working on a state backed crypto to eventually replace their fiat currency and I suspect other countries will do the same. Blockchain will be at the core of the new monetary system.

Bitcoin has outstayed its usefulness.

You need to pay a massive transaction fee in order for your transaction to validate in under 15 minutes. It's unacceptable when debit swipes are nearly instant.

It wasn't like this in the past. I couldn't tell you the exact reason why, but it's no longer viable as a practical currency for anything but online purchases that need to be shipped.

Just buy a 1080ti user, they're not inflated (by miners, anyway)

>11G memory
That's sick and wrong. I'll probably wait until both the miner cards become available, and the next top end amd card forces everything else to shuffle around in price.

even when (not if) btc dies some other crypto will take its place. i like the idea of eth abstracting away the blockchain so that other coins can build on top of decentralized primatives... too bad the market hasnt realized what eth is yet (its basically some code you call to make btc 2.0 or any other app magically decentralized)

you're a shill for bitcoin we're going to be seeing more of faggots as the bubble is bursting at this very moment. Remember everyone people trying to hype up bitcoins are only trying to get their investments back because they fucked themselves in the ass.

Sage.

also regarding eth specifically, theres a lot of misinfo about it from btc holders. its not even inflationary for example but rather goes into deflation mode with casper which will make the coin supply approach 0. in the meantime the block rewards are getting decreased with metropolis. no one on the eth side bothers with explaining this because once btc owners realize segwit doesnt help btc scale theyll move to eth and its better for eth holders if they do it later rather than sooner.

bigblocker detected. get vers cock out of your mouth