Decentralization doesn't wor-

Decentralization doesn't wor-

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youtube.com/watch?v=shrTiSs0lcA
smithsonianmag.com/history/there-never-was-real-tulip-fever-180964915/
theverge.com/2017/9/18/16326078/chinese-regulators-ban-cryptocurrency-platforms-bitcoin
twitter.com/SFWRedditVideos

This crypto fad will die soo-

bitcoin is tulip mania 2.0

>trying to use an extremely volatile electronic 'currency' with no real value except the fact it can be traded for drugs as an example of decentralization

Heading for one hundred billion dollars in capitalization. Wall street is investing, major governments. I'm thinking we're past the tulip comparison at this point.

>no real value
when will this meme end?
This is pajeet level in economics

>trying to buy darknet drugs with tulips

hearty kek

>single crypto with a value of $5000 REAL U.S DOLLARS

GUYS IT HAS NO REAL VALUE TRUST ME!

>implying speculative capitalism doesn't just lead to endless bubbles and collapse
This type of speculation isn't as devastating, but it is just as imaginary.

>No value
I turned $500 into $4358 in a week
Thanks ETH

Imagine how fucking rich we could all be RIGHT NOW

Its only value is that it can be traded for illicit goods. It is far, far too volatile to be used as real currency. In any case, 100% of its value is speculative. It doesn't even have the backing of large economy like fiat does.

youtube.com/watch?v=shrTiSs0lcA

And what is it worth today? Bitcoin lacks intrinsic value in a more severe manner than fiat does and as such it is extremely volatile. All a Bitcoin represents is wasted electricity. Its value is 100% speculative and will eventually collapse severely.

...

before it collapses though, many kissless neets will become millionaires and rule the world

I bought a convertible with Bitcoin

suck my balls losers.

Go to /biz/ to see what really happens.

>Its only value is that it can be traded for illicit goods

Wrong, I have personally used Bitcoin, among other cryptos, to make purchases that where not illegal or illicit in any way. For example, Steam (the largest digital distribution platform) accepts bitcoin.

>It is far, far too volatile to be used as real currency
Volatility in terms of constant bullish? See picture, left is price of Bitcoin, right in USD index. I ask you simply, which seems more volatile in nature? Which one is bull/bear territory?

> In any case, 100% of its value is speculative
Null point, as is every stock/index/currency. Or really anything involving monetary value.

> It doesn't even have the backing of large economy like fiat does.
What is ((((quantitative easing))))?

Obvious value of bitcoin is that it is an electronically based currency that's supply is not manipulated based upon the whims of the government. Inflation is fixed, technology improves, market cap increases, volatility decreases and it will be easier to use as your "daily" currency

drumpff is done for!!!!

No, stocks/index/currencies reflect real products in the real world. Stocks reflect partial ownership of a real company which can sell goods or services. The value here is speculative, but still intrinsic as it could still produce wealth. As for currency, the US dollar is essentially backed by petrodollar. In a similar manner, Bitcoin is backed by illicit goods. However, unlike Bitcoin, the US dollar is used my numerous world wide economies. If actual products and goods are vulnerable to speculative crashes, then Bitcoin is at much, much deeper risk. The Federal Reserve system is awful, but at least it has some real value unlike Bitcoin. I can't compare which one is more volatile as your chart has absolutely no labels besides names.

You're a fucking retard.

nocoiners are NPCs soon

>It is far, far too volatile to be used as real currency
>Volatility in terms of constant bullish
You're either being disingenuous or don't actually know what volatility means.

>implying the Federal Reserve is controlled by the US government
I'd rather have a currency which doesn't just disappear if I break my hard drive.

...

>my wasted electricity is somehow intrinsically valuable
I can't wait for the Bitcoin speculative crash. The only smart Bitcoin owners cashed out long ago.

blockchain is the real value here folks

>t. doesn't understand how speculation works

everyone in this thread will be eating their fingers when the crash comes, and coin holders will literally have their dicks sucked for sustinence by no coiners.

> t. butthurt nocoiner

>a currency which doesn't just disappear if I break my hard drive.
>nocoiners actually believe this

>a currency which doesn't just disappear if I break my hard drive.
if you use a hierarchical deterministic wallet you can recover your wallet with a seed phrase. if you did break your hard drive or even if you just wanted to fly internationally without carrying a laptop (because laptops are heavy, the only reason anyone would ever want to use this method to bring 7 plus figures of value on a plane without anyone knowing) you could recover all your money anywhere in the world.

Have a (you)

>Adds usd to the pic

That bubble is going to pop, and it will be worthless. It has happened with stocks, and housing. It will happen to wasted electricity.

>usd is less intrinsically valuable than bitcoin
Again the speculation bubble is going to pop as it does with literally everything on the market with the difference being that bitcoin won't ever regain value after that.

>No, stocks/index/currencies reflect real products in the real world. Stocks reflect partial ownership of a real company which can sell goods or services. The value here is speculative, but still intrinsic as it could still produce wealth

Your Argument remains the same if I were to remove/add cryptos to it. Notice, you wrote "currencies". CryptoCurrencies are a currency in nature. I get it might be difficult to understand because normally metal or paper medium is used as a form of currency and Cryptos are a form of digital medium, but try to wrap your head around it just for the sake of argument.

>As for currency, the US dollar is essentially backed by petrodollar. In a similar manner, Bitcoin is backed by illicit goods.

If I were to accept that argument, which I really don't, I would argue Drugs will have intrinsic value far longer then oil will. We are already seeing the begging steps of oil being shifted out our economy. New forms of energy are making their way in. Drugs will be around for as long as humans demand them. This is making the assumption that Bitcoin is fueled by the drug trade (not true, see XMR/monero).

> However, unlike Bitcoin, the US dollar is used my numerous world wide economies

Bitcoin is becoming extremely popular in Asian countries. Is making good rounds in European countries, and is continuing to grow strong in North America.

R8 my bags /biz/

>Finite resource which is immune to inflation
>In a bubble

OK pal, whatever you say.

I've made 45K off this shit, have fun with your CDs or whatever the hell you're doing.

And why must volatility be seen as such a horrible thing? Have you never traded or dealt with stocks? Then you must know:

>volatility=opportunities.

Oh no!!! Bitcoin has continued to rise in price!! Whatever shall we do! its to volatile and I'm making too much money over here!

fuck outta here.

A currency backed by drugs and other illegal services. Better than a currency not backed by anything.

>Implying national currencies are stable and reliable, not run by vested interests and bernake never said "I'll throw money out of helicopters if qe doesn't work"

Not sure if really really really uninformed or a shill... $0.02 regardless! Cheers friend.

Except the fact that bitcoin has crashed hundreds of times between now and it's inception. This bubble will burst, then it will start the cycle all over again.

>20+ minutes (and counting) transaction time
>requires a computer science degree to understand it
>insane fees and hoops to jump through to buy some
>thus no major companies accept it and never will
Cool bubble. I hope you get out before a more practical currency replaces it.

Wait when people brag about making money on coinz they're talking about a few thousand dollars? How is that possibly worth all the time and energy? Are you poor?

I prefer Argentinian bonds.

Yes I am poor.

I heard that btc will go back to $10 per coin next Thursday, or last Thursday.. fug.. Thursday's the day, for btc to return to 2010 levels!

Yep yep, you hear it here first. Also wage growth is going to quadruple in the next few months as a bull run in fiat currency will occur for... reasons.

Press b to buy!

>$1
Lol bubble
>$100
LOL BUBBLE
>$1000
HAHAHA BUUBBBLEEE!!1!!11!!!
>$2000
IT'S GOING TO BURRRSST HEHEHEHE
>$5800
HAHHA ANY DAY NOW...........

the value of the bitcoin is in the technology

if people choose to use it instead of fiat bank money then it will have value

This might be true. But you saying this kills your argument. You're closed minded. You think you know all the answers

>price going up = it's not a bubble

First of all, you're retarded. I need to get that out of the way before I even think about responding to that disgustingly stupid comment.

Do you not understand how these things possibly work? Must I hold your hand and bring you back to Elementary school and show you the basics of multiplication? Or must we start earlier and I need to show you simple addition and subtraction?

I mean actual currencies used by actual economies. Bitcoin is a meme currency that is 100% tied to speculation. Many currencies are heavily speculative, but Bitcoin is 100% speculative. That is a very serious difference. At best, Bitcoin is fiat backed.

Drugs will have continued value forever, however Bitcoin will not. You are seriously under estimating the value of Bitcoin for drug trade. Just the FBI has seized tens of millions of dollars of Bitcoin from online busts, which is not an insignificant part of the Bitcoin market.

Asia is still very, very vulnerable to speculation. Bitcoin is even weaker than fiat.

Meanwhile in 2037...
>$20,000 per Bitcoin
IT'S GOING TO POP!!! YOU FOOLS HAHAHA

Yeah that's why your boss doesn't put your wage up, he doesn't want ur job to be a bubble. Three cheers for fiat!

>All price increases are bubbles

Transaction times are now retarded and will really only get worse. Visa is faster

Transaction fees if you actually want something to go through are getting retarded. Visa will be cheaper soon.

Currency is basically dependent on fairly unregulated Chinese hydro electricity.

Currency is dependent on a likely trade war enemy of US.

Currency is dependent on open internet(yes, it could be shut down by national firewalls with DPI like china's tomorrow)

Good luck coin faggots. I will listen to you tell me how many bitcoins you used to have before all the wars while your wife and daughter suck my dick for two bullets and a jar of green beans.

Ffs new fag, what is.. monero?

There's nothing in the Bitcoin "economy" to explain the rapid rise in valuation, unless the price of drugs has increased 200% in the past month.

>Meanwhile in 2037...
>>$20,000 per Bitcoin

Try 2019, possibly 2018.
20k is nothing

You've made zero arguments against my points. If no company ever accepts bitcoin, it is a bubble by definition. You guys are still hoping that ONE DAY walmart will wake up and decide that 30+ minute transaction times are acceptable. That accepting a currency that requires their customers to jump through a million hoops and fees is acceptable. What IS going to happen is bitcoin will be considered a lesson learned for future currencies that will replace it. And when that happens, your bitcoin will be worthless.

>Decentralization doesn't wor-
Unless you keep the kikes out of this, they will get in and ruin it, too.
I'm happy so many of you made money off this, but they will get in and crash it sooner or later, and then a lot of innocent people will LOSE lots of money.

I see the term "bubble" thrown around by fudders who have never dealt with exchanging commodities/currencies.

The price of anything on this earth is set because that is what its currently worth. Simple laws of supply and demand. People say "bubble" in terms of:

>WOW! too much money being pumped into this stock/currnecy whathaveyou and its worth waaay less then it really is!

Thats called *SPECULATION* and no one on PLANET EARTH truly knows the actual price of anything. The price is set to what people are currently willing to pay for the specified object/item.

see

Poor fags will call this tulips

It doesn't matter if it never EVER gets mainstream acceptance (which it will), the fact is that you're coping hard with not hopping on the bitcoin train and making easy fucking gains on what is essentially video game money. People want it, that's ALL that fucking matters. Everything in this world is inherently worthless.

...

>using a pseudoanonymous coin on the darknet
>Not ZCASH, DASH, MONERO or XVG
Brainlet speaking out of his ass

TULIP MANIA IS A FUCKING MYTH (and Smithsonian is a credible source). Sorry to bust your "bubble" junior. Goldbugs and Fiatfags need to be bankrupted.

smithsonianmag.com/history/there-never-was-real-tulip-fever-180964915/

>implies I don't know all the answers
kys federal reserve kike

not like the tulip scenario at all desu

crypto is truly the next age of the internet. were roughly around the early AOL stage. it is a burgeoning and incredibly promising field. adoption will grow in time. certain cryptocurrencies are already working with major banks and nations are integrating blockchain technology into municipal and government infrastructures. if you dont at least learn how this stuff works, and in turn appreciate its usefulness for a world economy already struggling to meet demands, youre hopeless.

What? I've banked off of bitcoin like I have with many other bubbles in the past. It doesn't change the fact that it's a bubble. And like all bubbles, it should be considered a TEMPORARY source of profit. People like you are a dime a dozen. You find something, get all excited and have no clue that you need to get out while the getting is good and then you lose everything. Vegas banks off of people like you.

It will never burst and tulip mania is a myth blown out of proportion. The link to the tulip lie is below. Help destroy the tulip niggers.

How can a money supply that can be produced by anyone immune to inflation? Is that not the point of Bitcoin mining?
Volatility can be very good, or very bad. Penny stocks are highly volatile, but it is very stupid to invest huge sums of money in them.
At best, it can be traded for illegal goods or fiat, which means it is essentially backed by nothing at all.
Of course the current fiat system is terrible, but that does not erase the massive speculative risk associated with Bitcoin. In any case, Bitcoin is reliant on fiat, which erases that argument. Bitcoin is basically fiat minus the regulation or official value, so it is no better than a piece of paper.
It literally isn't worth the energy. You spend more on electricity mining it than the coin is worth.
Bubbles take a while to pop. Events like the housing market crash didn't happen overnight or suddenly.
>the value of the bitcoin is in the technology
That makes no sense, and you're just agreeing with my argument that it is 100% speculative.

Post ur bank balance/bitcoin wallet fampai

>sidechains allow the processing of more micro-transactions per sec than the current financial system, with almost no fees
>"TUUUUUULLIIIIIPPPP MAAAANIA"
>eating the propaganda this easily
I am disappointed Sup Forums

"We have heard how these bulbs changed hands hundreds of times in a single day, and how some bulbs, sold and resold for thousands of guilders, never even existed. Tulipmania is seen as an example of the gullibility of crowds and the dangers of financial speculation.

But it wasnt like that. As Anne Goldgar reveals in Tulipmania, not one of these stories is true. Making use of extensive archival research, she lays waste to the legends, revealing that while the 1630s did see a speculative bubble in tulip prices, neither the height of the bubble nor its bursting were anywhere near as dramatic as we tend to think. By clearing away the accumulated myths, Goldgar is able to show us instead the far more interesting reality: the ways in which tulipmania reflected deep anxieties about the transformation of Dutch society in the Golden Age."

Because the mining is finite, and the eventually they will run out of Bitcoins, which is why the hash rate increases exponentially.

Theoretically, YES, they COULD increase the supply of Bitcoins, but doing so would destroy it and the day they do is the day Bitcoin's fucked.

>Bubbles take a while to pop
Railroads were a "bubble" and so were early internet companies (look at them now). Economies have so called "bubbles" because of the human element. Saying bitcoin is a "bubble" means nothing. If anything, if that's all someone has to condemn it, then everything is fine; keep buying bitcoin and ether. Tulip niggers like to peddle this fiction yet fail to realize their tulip bubble example is a myth as well. If bitcoin is a "bubble" then it's a great bubble and people need to invest in both bitcoin and ether.

Bitcoin thrives on bullshit, hot air and wild speculation

Money supply controlled by fed, fiscal policy controlled by government, both are evil. 20 trillion in debt

Or 3rd world sex slaves on the dark web

100%. I've tried to tell people this and then the next tulip nigger sprouts out of nowhere and I have to tell them again.

made 30k in 3 weeks. stay poor, boy

Die, tulip nigger.

You spend more money in electricity costs than you reap from the new Bitcoins you mine with all your computers

>Volatility can be very good, or very bad. Penny stocks are highly volatile, but it is very stupid to invest huge sums of money in them.

You didnt reply to the correct one. ANYHOW.... volatility just doesn't apply to penny stocks. Because doing A is bad because of B does not mean B is bad in every situation. Thats probably some logical fallacy that Im too lazy to look up right now.

see for my actual response. That comment was never intended for you anyways.

That literally doesn't prove anything.
Speculation bubbles are very, very real and something with absolutely no real value other than its present ability to be traded for fiat is extremely vulnerable to this.
>implying those aren't just as worthless in terms of intrinsic value

Litterally every currency is worth its speculation nothing else. To deny is to be retarted

me too, can't wait to see all the penniless neckbeards sobbing under their fedoras

>people with less than 6 digits in their bank account
>talking about money

You are poor, being on the same board than you disgusts me.

yea but those coins arent pseudonymous, they are actually anonymous

Eh faggot I own bitcoin. Im just saying your argument is retarded. Or I should say doesn't exist at all. Your only defense is to attack someone for having an opposing opinion? Top fag

100k in 2019 you normie

Even $1000 is a lot of money when you're some neet or neckbeard working at Wendy's

theverge.com/2017/9/18/16326078/chinese-regulators-ban-cryptocurrency-platforms-bitcoin

>same board than

how do i get paid Sup Forums im broke and sad

The currency will split in a few week. There will magically be twice as much bitcoin on the market overnight