More record breaking economic news for Bitcoin. It's funny...

More record breaking economic news for Bitcoin. It's funny. Every time this happens some wanker is talking about an inevitable bubble burst, but they don't seem to realize how far away it is or just how valuable BTC will be prior to such a scenario where annually is scarce. Do you understand the significance of the ratio of market cap to available coin? The market cap is a tiny fraction of available global currencies. Do you understand that the coin is meant to be traded in units of Satoshis (0.00000001 BTC)? The facted it can be divided to such and extent meams we with not see an issue of scarcity within our lifetime. A Satoshi is currently worth about 0.0000569 of a US dollar. Do you know how much Bitcoin will be valued at when a single Satoshi is worth a penny? $1 million USD. When a single BTC is valued at one million dollars, it may be time to worry about a bubble burst. Until then, have fun laughing at nocoiners trying to snub your 5,000% ROI.

Other urls found in this thread:

trends.google.com/trends/explore?date=all&q=bitcoin
coindesk.com/price/
crypto.stackexchange.com/questions/47809/why-havent-any-sha-256-collisions-been-found-yet
blockchain.info
gemini.com
archive.4plebs.org/pol/thread/35968288/#35968288
twitter.com/NSFWRedditImage

I don't know how this will play into bitcoin but Trump is ending the FED soon.

I buy ten bucks worth every paycheck bcause you never know

hmm I am going to bet against that one as much as I love the Donald

no actual exchange market. it is a debased currency created by japanese and chinese gangsters. you can invest thousands but, when it comes time to collect your shit is void.

Ignore OP. He's trying to drive up speculation to increase the value of his bitcoins. If he really believed the shit he's spouting, he'd keep as quiet as possible and keep buying while they're cheap.

its to difficult to do for a brainlet like me.

What's the best site to buy bitcoin at?

its just gonna be tulips all over again.

>wanker
White trash confirmed

>check blockfolio
shit, im still poor

What is that based on and what does it mean? Uncertainty in USD likely means a growing market cap for BTC. The massive growth that has yet to occur is when the stock market braces Bitcoin and allow all these BTC millionaires to begin investing. Mostly because if investors can liquidate to BTC, the market cap will go past the moon, out of this solar system, to the end of the galaxy and we will finally see a real value and stabilization for the currency. From there it will come down to availability and divisibility to determine for how long the coin remains useful. Even if new blockchain tech is introduced, it is likely that BTC will remain the standard for crypto, at least until another coin becomes as fungible as BTC will be with leading national currencies.

Good luck getting your money out of bitcoin once you put it in. They don't let you sell them back. You're limited in how many you can sell and you can be banned from trying to sell more if you sell too many.

This is how the chinks who run the markets control the price. It's a money prison. Once your dollars are in the bitcoin jail you never see them again. You only have your Disney Bux vouchers.

ya I believed that when it was $200 for a BTC and I thought I was so smart

ELEPHANTINE IF ERRORLESS

I think coinbase is probably the simplest, but you have to get approved. Otherwise, decentralized exchange Bisq recommends
>Bitcoin can be purchased via many channels: friends or family, Bitcoin meetups, Bitcoin ATMs, LocalBitcoins, Mycelium LocalTrader, or from any of the centralized exchanges.
So you're not necessarily limited to a website either.

It is a currency and functions quite differently.

>Do you understand the significance of the ratio of market cap to available coin
Only 21 million will ever be made

>you can be banned
Banned from what?

winner winner chicken dinner

Do you honestly believe our reptilian overlords would even allow bitcoin to exist if it somehow impacted their banking cartel. Don't buy into the jewery

The BTC exchanges. When the price starts to crash they always lock down the exchanges and stop trading to prevent people from taking their money out. You can't make any transactions without having it verified by an exchange. It's a total scam.

Yep. Then divided to a Satoshi of 0.00000001. I'm not even sure it's possible for the market cap to grow to the point where a single Satoshi is worth a US penny. So it can't really burst so much as it can become less volatile and more stable as a functioning currency.

Sell them in other ways or use a decentralized exchange like Bisq. Exchanges should be decentralized anyway, at least once you buy in. There's no reason to trust a centralized authority with your money. That's why Bitcoin was created as a concept.

i'll be damned if i don't cash in on this opportunity and use my fortune to create scholarships available ONLY to the most alpha nazi larpers

Alpha nazi larper here, can I has scholarship? I'm a straight white male with a straight white wife, and we plan to have straight white children some day, when we can do it without relying on gibsmedats.

Be sure to get a 501(c)(3) non profit status. Although I'm sure these are regulated by leftist discrimination laws where they have a United Negro college find, but can't actually deny white people. Still, I'd out a lot of thought into crafting the description.

It needs to promote making white babies somehow.

Unless you can put that shit in a Jar and bury it in your back-yard, or hold it in your hand...

You don't have shit.

It's imaginary.
.

Because Russia and China are going to start trading oil for gold using gold backed bitcoin

How the fuck does bitcoin even work really? Too lazy to youtube and google this shit, someone give me a rundown how people get into bitcoin? Or tell me to go fuck myself, either works.

Dumbest shit I've ever heard on the subject. Congrats.

You can. Do people still not know about paper wallets?

Would i rather have $5690.74 which is accepted everywhere or 1 bitcoin which is only accepted by autistic lolbertarians?

That's as real as a dollar bill.
That is to say, worthless in anything but imagination.

Coinbase is basically PayPal for bitcoin but with a 1% fee instead of 23cents + 2.7%.

You can transfer money from a regular bank account and convert to btc whenever you want.

If you want to spend bitcoin at Walmart without waiting for your bank to process it (I.e. earn interest for 2 days for no reason) you just buy a gift card on gyft app (paying with coinbase) and they scan your phone when you check out.

I have a few btc accounts. One on coinbase that I use for everyday shit, and the others just have bits sitting in them.

The first account I had I bought $100, and forgot about it (hectic time). When I got back into btc a couple years later I had $440. It won't always grow at this pace, but it still has a long way to go.

Treat it however you want. Investment, new way of transacting. Just don't be like 99% of peeps who rag on it because they don't know anything. (Most probably shilling anyway. Can't have online money that (((they))) don't get a few pennies out of every dollar from.)

Right now, I'd rather have 1 BTC and just load a prepaid card as needed while the remainder increases in value. When BTC becomes less volatile, it will likely be accepted more widely than it is now, but with less potential for increased value. So it will just come down to its advantages as a currency, but otherwise is moot.

Then what is the real value of gold? If you want to say limited availability, Bitcoin is more comparable to gold than it is to fiat. If of comes down to prepping then go straight for goods.

Hedge your investments. Put part into physical items that can provide utility (particularly in crisis situations) or at least be sold back for profit

y dafuq is it illegal to collect rain water? The government doesn't even allow me to collect gibs from the fucking heavens because they want me to WORSHIP THE GUBMINT AS
A
FUCKING
GOD

>can't
You filthy fucking casual use GDAX and make limit orders

Bitcoin shills are the worst. Only reason people shill for Bitcoin is because it only works when people believe it's worth something (like all currencies)

Bitcoin is bad right now because so few places accept it, transaction times are garbage and will only get worse making it only useful for large transfers, and the only people using it are treating it like a investment which is why people say it's a bubble, once folks clue into that it bursts.

People right now are just betting on the fact it could replace/compete with PayPal as a online payment system but it really hasn't come close. Only place I see massive success with bitcoin is people buying drugs and payment for crime (ransomware, ddos/stresser services, spam, etc) and maybe illegal stuff is enough to keep it afloat for a while longer.

I was just taking about this. Apparently you can't even have a well anymore? I'm in the nor cal fires and have a renewed respect for stuff like that. It happens fast. Even just having a bugout bag makes a big difference.

Wrong. It's not a faith based currency. At least no more so than saying numbers only work because people believe in them as representations of real values. To some extent, any currency exists as a mere representation of value. It is not itself directly valuable. That's why a currency is not a commodity.

yeah it's only legal in some places (like the Arizona desert)
They want to try and make you not have any excuse to not go to the FEMA camps, brother.

No shit, only difference is countries back their currency by force.

wow nobody ever thought of that
you should get a reward like they should put your face on the bitcoin

Personally, I am EXTREMELY excited. Everytime bitcoin shills appear on Sup Forums it heralds another hilarious collapse. They reek of desperation as they beg others to purchase their worthless coins.

You know it's gonna crash again, don't you big guy? Can't wait for all the memes.

Source for my claim:
trends.google.com/trends/explore?date=all&q=bitcoin
coindesk.com/price/

Compare the end of 2013 when the owner of the trading card website that hosted almost all bitcoin trading ran off with the money he did have after realizing his insolvency. In two months mentions and searches of bitcoin went from it's return to baseline after the mini summer scam (below) to skyrocketing to new highs on trends, immediately followed by the devastating crash caused by the fact that it is meme currency and the exchanges all have user agreements that they don't owe you shit and it's all for entertainment purposes.

Similarly you can see in spring of 2013 that Bitcoin had a bump in value without any heralding, then a prompt correction. After a bit of a recovery a huge push as made again as seen on trends and the value returned to per-recovery.

It's like clockwork; I'm slobbering like pavlovs dog. I doubt this will kill bitcoin (sucker born every minute) but it will certainly be a salty crash indeed.

Are you implying that litigation in your country of residence can't be used to settle disputes relating to bitcoin?

Buy LINK. LINK is bridging the world of crypto to fiat via decentralized oracles. They have a partnership with SWIFT and will be showing off the finished product at SIBOS on Oct 16th. Expect a huge rise post SIBOS.

>btc isn't trading high above intrinsic value
>is not financed by debt
You nocoiners always get huffy about it being in a volatile stage then turn around and try to call every dip a "crash" while everybody else is celebrating overall gains. We have yet to see any such thing as a crash. You don't even know what the word crash means in financial terms.

Fuck out of here, shill. Digital money is how they will control us.

>has a problem with exchanges
>blames the currency
Sounds like you would prefer a more decentralized currency like BTC instead of USD which the banks and FDIC will only insure up to a limited amount.

>Bitcoin has intrinsic value
Define intrinsic value you brainless nigger. tulips have immeasurably more intrinsic value than bitcoins.

So let's hear it brainlet, how do you define "intrinsic value"? There are lots of ways to put it, but none of them sound like bitcoin.

the societal function of it has to transition into white-market shit before it can have any more logarithmic growth

even staying in the 1000 range, you could make money

something could always go wrong though, bitcoin is like a hybrid of cash, debit, and stock that doesn't have big military behind it

>FDIC insures 100% of bitcoin holdings.

You guys are fucking hilarious. I know you are on the other side of the screen sweating bullets; I'm not telling you anything you don't know. But you need SOMEONE to buy those hot damn coins off you before the crash, so the cycle of shilling revives.

Tick tock, user; good luck jewing the next son of a bitch to come along just as ignorant as yourself.

They already control us with money, retard. The whole point of decentralization is not having a central authority over our money. Bitcoin is the lolbertarian ancap of currency ffs. Personally, I like Monero better, but I don't give a shit of you people use BTC or not. This isn't /biz/. I'm posting the news for people who are interested and want to discuss its implications on society. Which we've barely discussed since this site is full of midwits at best who lack any vision of the future.

That's the point. You plebs are talking about a currency "crashing" as if it is a stock market. It isn't. It is a currency. You conflate so many conflicting terms it's ridiculous. A currency's value is based on its usefulness as a currency. It can't reach its intrinsic value as a deflationary currency until after a so-called bubble burst. This means it doesn't tend to exchange for significantly higher than its intrinsic value as a currency and no crash has occurred. Fiat also has no intrinsic value beyond its usefulness. The difference is that fiat is inflationary and there is an increasing risk of hyperinflation. Just because BTC is increasing in exchange value doesn't mean it is a commodity.

The definition of intrinsic value is only relevant here as it applies to the term "crash". I mentioned it to help demonstrate that Bitcoin has not crashed. I'm not saying it's impossible, but it is only possible in a bubble burst scenario, which is so far into the future before even being entertained that it's irrelevant to our generation. In the meantime, it's just a fairly volatile currency.

okay, but what about when some chinese robot mathematicians at MIT start finding sha-256 collisions?

checked, wisanon

FDIC doesn't insure Bitcoin. You have poor reading comprehension if that was your takeaway. I said that there is no guarantee in relying on any central authority that you will get your money back. Regardless of the currency.

Decentralization is its strength.

>still doesn't know what a crash is
Only people trying to day trade give a shit about that stuff. You need to get off /biz/.

I'd like to know more about this because it always seemed too good to be true that you could take out a loan to buy a bunch of coins a month ago and sell them today.

If it's difficult to sell coins, then how do alt-right and WN sites that beg for coin donations get money? I've looked up many of their wallet addresses on the blockchain and some of these sites are raking it in big time at the current rates. Does this lend credence to the theory that they are all fed honeypots?

>But you need SOMEONE to buy those hot damn coins off you before the crash, so the cycle of shilling revives.

We've only been hearing that for how many years now? Hell I', up 13% since.. yesterday when the same people were on her spewing the same shit.

They where saying it 2 years ago as well. I've since purchased a new car cash and saved enough for a house.

I assume that will mean a radical increase in computing power and that it will be possible at that point to use even stronger hashing algorithms without taking too long to be practical. Otherwise it's not happening soon.
crypto.stackexchange.com/questions/47809/why-havent-any-sha-256-collisions-been-found-yet

I'm just a bag holder. These poor arguments against the currency always tend to be aimed at day trading types.

>It's good now so that means it's good all the time

Are you in middle school?

it doesn't matter if they could switch to a new algorithm, knowledge of the existence of one collision would cause a massive sell off from which btc would never recover.

Lmao this post is precious

God bless u :)

Assuming for the moment that BTC is not going to see a bubble burst in our lifetime, how large will the market cap need to grow before it is not significantly volatile and more markets are comfortable relying on it as a currency? It's at a relatively tiny market cap compared to all major currencies. The only thing I can say for sure is that by the time we see a stable Bitcoin, the average person won't be able to afford a whole one. We're already at a point where the average purchase is an exchange of Satoshis. You don't spend a Bitcoin on a pizza. You spend a small fraction of it on a pizza.

No one will believe you :)

Keep buying bitcoin everyone. Ask yourself why the daily bitcoin bashing.

>sweetie

The only thing they can't believe is that they didn't buy in sooner.

I don't really understand the motivation behind bashing btc. If they're not interested or don't understand, that's fine. Why the hatred and relentless attacks without any strong argument as to why they expect it to fail tho? I really think these people just don't want to accept that they missed a great opportunity.

>fiat currency is bad
>invest in my electronic money that requires specialized hardware and is backed by nothing but wasted electricity

fuck off

Ask yourself.. Who would do such a thing ?

It's god damn retarded and a waste of electricity and the materials needed to assemble the miners. At least when you horde gold and silver it's still fucking there to be used down the line for something.

>Ask yourself why the daily bitcoin bashing.

I bash all con artists that try to sell me ponzi schemes, it's how I've stayed rich.

Too hard to invest real money into. I'll never buy BTC to be honest.

>the bear will leave its cave forever
the bear will leave its cave forever
>the bear will leave its cave forever
the bear will leave its cave forever
>the bear will leave its cave forever
the bear will leave its cave forever
>the bear will leave its cave forever
the bear will leave its cave forever

>It can't reach its intrinsic value as a deflationary currency until after a so-called bubble burst.
Just. Listen. to. Yourself.

>no definition
nigger.

Let's say that I originally purchased coins when they were less than a penny and now they are worth $50,000,000. How do you sell them and get your money? I have googled this and found that people can really only sell in $15,000 blocks each week otherwise the money can be frozen....also, people can rip you off?

>please, buy some coins.

The coins exist in the ledger. You can see them here. You know where the ledger exists, right? How do you guys know so little about it still?
blockchain.info

gemini.com

>Too hard to invest real money into
It's true. Market cap growth is seriously stunted by this. Some day that will likely change and things will go apeshit.

That reminds me of how there is way more money in the stock market than exists in circulation. It would be nice to be able to borrow against it.

>make multiple bitcoin threads a day for a week
>"oy vey, why is everyone talking shit about bitcoin all of a sudden, the must be great! Buy some now goy, you wouldn't want to miss out!"
you guys are the worst.

>muh e-money
>muh miners
>muh value
>muh decentralized

fuck off back to /biz/ or wherever you god damn lepers are coming from.

Nigger that is backed by nothing. Yeah, you can write down person a bought a big mac from business b in the ledger or whatever but what the fuck is that money getting you? fiat currency is enforced as legal tender by the government or organization that printed it, bartering has you exchanging physical goods or labor for what you want.

bitcoin is completely pointless unless you're converting it to or from existing currency

>muh argument
Fuck /biz/. This isn't a pump and dump post. It's another record breaking btc value which has significant political and economic implications to be considered. Go be useless elsewhere.

archive.4plebs.org/pol/thread/35968288/#35968288

yawn

If that is the actual price in today's market, it looks as artificially inflated as fuck.

That shit is just one legislation away from bursting to shits and leaving a bunch of goys homeless.

That being said, I envy the shit of those who actually rode this meme coin so far up and I regret not listening the pump and dumpers back when I visited biz and was around 600 a pop.

That won't happen. Saying BTC will become a standard because USA is too volatile is the most retarded thing I've ever read.

That's just your reading comp skills. I said BTC will likely remaining the standard against other cryptocoin.

>spend bitcoin
Youre spending the equivalent of 5 million dollars in 2030 on soda and chips, buy that shit and hold on to it.

But yeah, when a currency struggles, people tend to gravitate toward a more reliable currency. That has been BTC in the past and will likely be BTC again in the future for some countries.

It sounds like you just don't like the concept of currency. Fiat may be enforced as a local currency, but its value is not derived from being designated as the local currency. A currency's only real value is its purchasing power. Yes, even gold.

Nihga get real

>talking about ROI on a currency
>wat is deflation
You know that's a bad thing, right?

>muh bitcoin
Its only that high because of massive speculation.
Bitcoin babies will never accept the fact that it failed as a currency and is just an investment for 99% of people using it.
Blockchain is great though.