Why the fuck is it worth anything?

Is it a fad or will it truly change the world and is 1 bitcoin going to be worth 1 million dollar? I know some dude who bought 20 bitcoins when they were at 200 euros each and he says he ain't selling it until they reach 1 million. He says this is going to be in a few years, so he is just leaning back and doing a shitty job, dreaming of getting blowjobs from Asian hookers once the bitcoin reaches 1 million.

Is he wrong? Is he a fool? I mean, he must be pretty smart because he already made 100k, right?

Other urls found in this thread:

en.wikipedia.org/wiki/Economic_bubble
bloomberg.com/news/articles/2017-09-11/north-korea-hackers-step-up-bitcoin-attacks-amid-rising-tensions
twitter.com/SFWRedditVideos

Bitcoin is a speculation bubble. The smart guys will know in advance when to sell off their shit because it will be an orchestrated collapse by the institutional groups. Even the whales will get fucked when the institutions collapse this fucker. The flash selloff of Ethereum than ran it down to 0.10 per Eth should have clued people in as to how dangerous crypto is. 2007 happened and there was laws to prevent that kind of shit. There is no laws stopping a group from collapsing cryptos.

They are forking off all these new coins like BitCoin Cash and BitCoin Gold and BitCoin Platinum and BitCoin Air. Is this a good sign?

so how do you convert bitcoin to dollars ??? whit out the IRS nailing your ass do tell no prob buying the shit try selling

They'll likely fail. Those extra coins will get a initial pump and dump then slowly trickle away.

>orchestrated collapse by the institutional groups
>Joo-proof, deflationary, peer to peer, non-government controlled, currency

Pick one

>20 bitcoins when they were at 200 euros each and he says he ain't selling it until they reach 1 million

Why? This BitCoin cash went to fucking 850 dollars with a market cap of 14 billion within a few weeks and now is back to 300 dollars. What's happening?

basically: who knows
the best analysis I've seen of probably bitcoin stable price is $300 US
Still, jews have a history of rigging the game in their favor: take over art history in order to make paintings by their own favored artists more "valuable." They could work that magic here.

Regardless, it would take an epoch making disaster in fiat currencies to make bitcoin a stable alternative. in that case even holders of bitcoin would be fucked

Because bitcoin can't be fucked up by (((them))), or [[[them]]]

pic mos def related

1 million is just 50,000 euros per coin. Is it so impossible? I mean it went from 200 euros to 5,000 euros in 18 months or so. That is massive and like 25 times increase. Can't it go up to 50,000 euros?

Neo-Tulip speculation bubble

EVERY bubble bursts.

Fuck off moron, the ONLY thing BTC provides is a shortcut around bank regulation. These laws are on the books to ensure that you're not making duplicate transactions or that the money isn't under legal dispute. This can take a few days or up to a month when transferring between US-EU or to Asia. So tell me, what happens when the banks adopt the blockchain technology and create their own crypto coin to instantly track and verify every transaction? BTC has no purpose in that world and fucking dies. The institutions will know LONG in advance when this will happen and switch from long positions to short as the crypto markets bleed out.

100$
>they will crash anytime now
200$
>they will crash anytime now
500$
>they will crash anytime now
1000$
>they will crash anytime now
2000$
>they will crash anytime now
3000$
>they will crash anytime now
4000$
>they will crash anytime now
5000$
>they will crash anytime now

FUCK ME I WILL INVEST ALL MY SAVINGS IN BITCOINS. THIS IS IT. If they crash, well fuck me, bad luck.

TO THE MOON

I know people love Bitcoin because it fluctuates and you can buy some for 200 bucks and then sell it when it moons. But these qualities add up to making a terrible currency. the USD is not popular because it is worth a little or a lot, it is popular because it is stable, meaning in 2 weeks I can buy cheese for 3 bucks and in 6 months cheese will be maybe 2-4 bucks, not 10 cents and not 6000 dollars. It's a meme currency that people are riding the wave of until it gets some sort of stability

en.wikipedia.org/wiki/Economic_bubble
was an opportunity to make some dosh. You can make money trading the stock of a failing company. The people at the top were just the dumb ones who didn't know where it was going to stop rising.

quick name something you can buy with bitcoins!!

It did crash multiple times between those prices. I'm not sure what you are on about. It's not going to stay this high forever. People know this. Just relax when it dips even harder than it did last time.

>So tell me, what happens when the banks adopt the blockchain technology and create their own crypto coin to instantly track and verify every transaction

How does that stop bitcoin? You are allowed to have more than one road in town, user

You're mum
Wait, no that was fags sorry

Because major financial institutions are investing in it to fend off massive inflation.

I dicked around with bitcoin back in the extremely early days, when they were chump change. Got a couple of hundred tucked away and just waiting.

If it crashes and they become completely worthless, I'm out ~$100 at most, if they sky rocket even more could be set up for quite a while.

Certainly wouldn't jump in at this point though, it's almost certainly the mania phase.

>You're mum
you are mum?
>Wait, no that was fags sorry
what?

Jesus Christ, You might actually be retarded.

I might be retarded but you're most definitely new
Fuck off back to aol, newfag

You are not converting anything. You have to register on websites to look for (btc) sellers and if you want to have cash you look out for buyers of btc that will trade you cash

As long as bitcoins go back up again crashs are not a problem.

Money

mfw

>years ago when bitcoins were worth like 2 bucks some jew offered me a couple to do some basic internet tasks for him
>i said no thanks

FUCK

so its not really a currency. Its like a stock then?

Word.

Since the 70% crash of '11, everything else has been just a speed bump. 6% fall? Getthefuckouttahere!

>It did crash multiple times between those prices.

I think the point is that, in contrast to the tulip bubble, the bitcoins end up going up again after a few weeks or motnhs.

Tulips went up massively in price and then crashed and for 300 years we still aren't anywhere near back up at the prices of back then despite quite a lot of inflation.

>>/biz/
Drop ur bags there. They sure must be heavy, given this poor shilling attempt.

What happened to this piece of shit?

I wish I can go back in time and buy all the bitcoins.

ITT: jealous apes who can not think let alone two days in advance, but two years.

It's worth money because you can use it to buy drugs.

>>years ago when bitcoins were worth like 2 bucks some jew offered me a couple to do some basic internet tasks for him
>>i said no thanks
>FUCK

Same here. I did some research and red up on them when they surpassed 1 dollar in early 2011. I set up my laptop to mine them but didn't get that far. I went onto a forum and said I would buy some for transfering some money via paypal, but then lost interest.

SHould have fucking bought 50 or 100 of them back then or at least mined some serious coins.

>why the fuck is it worth anything?

people are fucking stupid

is that simple

let alone, they are the same people that make desicions on the economy, stock market, fiat currency and everything that has to do with value currency

and kiddie porn or anything else thats illegal

>It's worth money because you can use it to buy drugs.
But they busted Alphabay and Hansa and now the drug market int he darknet is all shit, I heard. I also heard the police is targeting everyone who buys in the internet to drive buyers back to the trainstation so that black illegals get their customers back.

It's both, it's too unstable to be used as a currency because the price dances around too fucking much. "It's a store of value" is also bunkus because it's just fucking digits on a hard drive; it has no real properties aside from what people THINK it's worth. Even fiat currency can be used to wallpaper your house or as kindling if it eats shit. Crypto is outright useless except for transferring back and forth to eachother.

Not as easy as it sounds to convert them into cash. You would theoretically have a lot of money but you would have to find enough buyers first.

Cryptos will always be around, but.... something else may overtake BitCoin. In that case BitCoin will grind to a halt. However.... if it is a "fork" of BitCoin like BitCoin cash you will still be in the money.

>and kiddie porn or anything else thats illegal
Isn't there anything legal you can do with bitcoins? Like anything? Like buying pizza and shit?

>Not as easy as it sounds to convert them into cash. You would theoretically have a lot of money but you would have to find enough buyers first.
You can easily sell 100 bitcoins on the i nternational markets. There is like serious trade going on, like 2 or 3 billion usd transfer volumes on average per day.

Sup Forums pass

I just renewed it like a good goy and Bitcoin was a payment option

Fiat, common goods, drugs, weapons, mcnuke miniatombomb, child labourer, whatever u want user. States like Japan or China already accepted it as currency.

Alza.co.uk etc
You can buy PC hardware , even Tesla car

I remember when the price of 1 bitcoin hit 60 dollars and everyone was screaming about the bubble popping.
Fuck, man.

And how exactly is he going to sell them to have that million dollars?

Bitcoin has crashed like a hundred times on the way here

>ITT we see a bunch of speculative bitcoin fags who don't understand economic bubbles
If you see this and don't sell right now, you're an idiot. Now or sometime in the near future this entire thing will crash back to a few hundred dollars
>Hurr Durrr it's a block chain you retard! It'll replace fiat currency!
No it won't, fiat currencies have tax payer bases and armies to back up their value, bitcoin has a bunch of techies who think it's the greatest thing ever

>You can buy PC hardware , even Tesla car
But why? Why should I not just use cash to buy this stuff? Cash is more stable than bitcoins are.

Because bitcoins increase in value, cash always decreases.

>And how exactly is he going to sell them to have that million dollars?
exchange? bitcoin.de or some other shit

>bitcoins increase in value
Unless people start using a bitcoin clone. In which case bitcoin wouldn't be worth more.
It's 100% speculation

>Because bitcoins increase in value, cash always decreases.
so bitcoins always increase in value?

No, 1 bitcoin went from $0 to $5000 in a few years.

$50 will always be $50.

>Why is it worth anything
It isn't. Its just money. Nothing but commodities (i.e. gold) has any "real" value.

But since Bitcoin has more utility than paper currency its possible that it will be implemented in the future and become semi-mainstream.

>$50 will always be $50

Are you fucking retarded? Ever heard of inflation, faggot?

People can't decide whether it's an investment or a currency. It seems like it SHOULD be a currency, given how most of its proponents try to sell it as one, but this sort of deflation is going to make it look like a shit option for currency.

>Bitcoin is a speculation bubble.
Reminded me of US dollar

>(i.e. gold)
u mean food

Inflation barely ever happens nowadays in first world countries.

Currency collapses are a rare site.
Brexit will cause the price of Freddo's to go up by, what, 5p? Who cares?

it is printed on the note.
it is literally $50 forever

u mean garmonbozia

Localbitcoins

Bitcoin (and crypto in general) is a hilarious disaster that is a speculators dream. People just keep piling money into the well and it's inevitable that most people will never be able to draw it back out again. You have to remember, for every person making bank someone else is buying in at that higher price.

ICOs are a masterpiece of free money though. So many retards are looking for that 1000% moon coin that you can come up with any dumb bullshit and people will give you a million dollars just so they can get in the door early.

Bitcoin: For some people to get rich, others must lose money.

>why the fuck is it worth anything?

Probably because I didn't buy any...

1 BTC is literally 1 BTC forever.
Fuck off domme belg

Huge market cap because it was the first pump n dump coin.

Why the fuck is anything worth anything?

Because people decide that it is. You think re-sold debt is backed by anything?

L O L
O
L

I remember buying them when they were less thatn $100 and selling them, then they went to 300 and back to 100, i had countless oppertunities to buy in,


I feel sick

>888 what did he mean by this?
>infinity
>infinity
>infinity
will 1 BTC be worth billions in ten years?

>the best analysis I've seen of probably bitcoin stable price is $300 US

Literally no one can predict anything at all when it comes to bitcoin.

It "could" be like when some people predicted the internet to fail... and look at it now - still growing.

Anything off Newegg

It's a pyramid scheme.

Grow up mate

>So tell me, what happens when the banks adopt the blockchain technology and create their own crypto coin to instantly track and verify every transaction?

If they were on top of their shit they would've; 5 years ago.

>BTC are printed notes
>dutch boereverstand

>never heard of etherium before
>It was $10 USD in May and now it's $400
Probably worth trying this out

I remember when bitcoins were only worth $20. I laughed at the thought of virtual currency back then. I'm not laughing now.

The norks have billions in Bitcoin which probably helps

Ching chomg

...

Difference is that the USD has the strongest army in the world to back it up
Bitcoin has.... nothing

What's the odds of hopping into the bitcoin market and atleast making some decent profit? It's wayyyy too late, isn't it?

>why the fuck is it worth anything?
It isn't.

It's an extremely volatile stock, except it is not backed by anything.

Theres still a chance, creator of bittorrent is working on his own crypto that uses HDD storage instead of cpu/gpu cycles. Suppose to be way more efficient.

bloomberg.com/news/articles/2017-09-11/north-korea-hackers-step-up-bitcoin-attacks-amid-rising-tensions

If I really was a chinaman it would only make me more trustworthy in relation to crypto since they run the shit

Leveraging wallets through ransomware? That's not a very viable long term strategy, that's Nigeria tier. Big holders aren't going to be caught with their pants down like that.

>It "could" be like when some people predicted the internet to fail... and look at it now - still growing.
Or it could be like the housing market leading up to 2007 when people said that we had entered a new economic age and the prices could never go down!
Until they did...

>tfw lost 45k euros because I went short 2 days ago after russians said they were going to ban cryptomemency
>it went up to the moon today

JUST

dotcom 2.0

If you bought now an sold in like a few days or months you could maybe make a few $100's but it's pretty risky

Cryptocurrency solves the (((Federal Reserve))) problem. The Fed is how the Jew institutes his control over the World.
Bitcoin might not end up "the king", but cryptocurrency will be the way of the future.

>selling
>before xmas

nah nigga