>This is Bitcoin. It's the most fearless internet money. Oh, Bitcoin is just crazy!
>It's distributed all over the place. Watch out (((banks))) we don't need you no more! Jamie Dimon so mad.
>Oh my gosh, segwit transactions are fast! Here comes lightning network and other crazy nerd shit!
>What other coins are faster? None care bitcoin still the chadcoin due to network effect, get used to it virgin no coiners. Market cap dominance is going to go back up to 90%.
>China bans bitcoin exchanges. No fucks given. The price drops briefly, then Bitcoin rises back up like a pissed off Saiyan prince. Based rooftop Koreans and honorary Aryan Japs will buy instead.
>Price pumps even when FUD is high.
>Forks just give users free money. Umm okay thanks Bitcoin?
>Venezuelans with Bitcoin are the only ones not eating out of a garbage bin.
>Here comes the Chinamen again to try and 51% attack Bitcoin with a malicious hard fork. You think Bitcoin cares? Bitcoin steamrolls all shitcoin challengers.
>Brainlets think they have already missed out, and that it's too late to board the rocket ship since price has left the stratosphere.
>Two months later they hear of it landing on the moon. Insist to friends who have bitcoin that they are foolish not to sell, it's going to pop and oh here's some lameass reason why it will fail that I came up with after five minutes of research.
>Bitcoin lands on mars.
This is Bitcoin. It's the most fearless internet money. Oh, Bitcoin is just crazy!
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Until the electricity gets shut off, then you have nothing.
>bitcoin
>money
>being dependent on utilities for electricity instead of being self-sufficient
Fag
>go to the grocery store with my bitcoins
>can get nothing
>go to the gas station with my bitcoins
>can get nothing
>go to the pharmacy with my bitcoins
>can get nothing
>go to the movies with my bitcoins
>can get nothing
>go to pay my electric and internet bills so i can continue having my bitcoins
>can get nothing
I AM RICH I HAVE 300,000,000,000,000 IMAGINARY INTERNET DOLLARS
>Implying that if this scenario happened you'd actually be able to use your money from the U.S government.
Heh no thanks.
> Implying you can't exchange goods for bitcoins
> Implying there is no such thing as bitcoin debit card
> Implying that you can't exchange bitcoin for other currencies
Nice try, goodbye.
Bitcoin is gonna get hacked eventually. Sell now and stop being a kike.
We're not retarded enough to buy here, so that probably means you should sell and buy more when price drops
TenX card, first of all
secondly, you sound like a retard who can't grasp the concept of monetary items other than physical paper bills or a made up number on your bank account. Stay poor you no coiner.
Thinking you'll still be able to use crypto as monies when everyone else is using chickens and goats.
Not owning any gold or botlles of whisky, tobacco, etc.
>retards who can't grasp the concept of monetary items [like] a made up number on your bank account
That is literally what bitcoins are aside the bank account part, I like that you try to act like it's so high and mighty and separate from it when it is identical yet less-accepted in 99.9% of all retailers.
>Have to exchange bitcoin for dollars, this means bitcoin is worthless!!! Haha got your there.
Never heard anything as stupid as this. Bitcoin uses SHA-256 encryption developed by the NSA. The NSA doesn't have any backdoors because it's open source and has been rigorous vetting.
Everyone uses SHA-256 encryption, if this was to get decrypted then you would be able to intercept all kinds of information. Even NSA uses SHA-256 encryption to transfer data. The military & government all use SHA-256 encryption.
As for now, it's IMPOSSIBLE to hack.
Please tell me where you can cash out for your supposed billions of dollars worth of bitcoin that tens of thousands of people claim to have based on a non-usable exchange rate.
OMG BTFO !!!!
The one and only way humanity can be freed from (((Central Banks))) which is the literal final fucking boss. The amount of anti-shilling you see in every BTC thread tells you how scared the kikes are of this reaching terminal velocity. If you're against cyrpto you're pro central bank. It's as simple as that.
Has any of these "bitcoin millionaires" actually been able to turn their bitcoin back into real money? Or is it still "I invested $100 and now I have 6000 monopoly money!"
I don't have billions worth and if I did I wouldn't try and sell it all at once like a moron who would crash the market. I'm literally living off my coins, I don't even have to work.
>Bitcoin uses SHA-256 encryption developed by the NSA.
>Everyone uses SHA-256 encryption
>Even NSA uses SHA-256 encryption to transfer data
>The military & government all use SHA-256 encryption.
>SHA-256 encryption
Nobody is saying you should put all of your money into Bitcoin now. They've explicitly said it's a high-risk asset. It's highly volatile too.
It's an upcoming technology that's still in its early stages. Cryptocurrency is here to STAY and the blockchain is the future. You can expect it to be commercially viable in the near future. Mega-corporations are already experimenting with the blockchain.
Any Anons here? Has it already forked (again) and if so who won the "Second Fork War"?
The decentralization is a massive (anti-government) strength, but it's also a weakness if the miners and exchanges can't agree on the way forward.
of course. you can buy fuckin yachts with bitcoin now. it's way too valuable to exchange for stinky fiat jew paper tho
Surely if they REALLY WANTED TO they could exchange their 10 bitcoins for 3 gorillion USD, the thing is the worth is continuing to go up so they're all keeping their investment! It's not that it's unusable fake money with no actual value in the real world aside buying drugs online, it's just that these people are too intelligent to make it usable currency.
Cryptography 101 for you buddy.
>As for now, it's IMPOSSIBLE to hack.
Then in 5 years someone boots up their quantum computer and runs shor's algorithm and everything crumbles.
>cryptographic hash functions
>encryption
i'm not even going to mention the "NSA made it so you can trust it" bit
I have withdrawn almost 19 million in the last two weeks. It's as easy as clicking a tab in Coinbase.
>Cryptocurrency is here to STAY and the blockchain is the future
I agree with this. I'm still just at a loss for why people think the very first crypto currency will always be the primary one.
>It's not that it's unusable fake money with no actual value in the real world aside buying drugs online
what is this 2011?
There is an underground market for Bitcoin where you can trade all sorts of goods for Bitcoin. Cars, houses, food, clothing whatever you want.
There are services that allow you to deposit bitcoin and use it as dollars and shop wherever you want.
It's a hash function you fucking mong.
If you think bitcoin has any real-world value, then maybe it is.
Bitcoin can't be hacked since there's nothing to hack.
Educate yourself on blockchain technologies, you blabbering idiot.
Does ANY currency have "real world value". The Dollar? It's just paper, user. And yet its the most powerful instrument of currency on earth.
Cryptographic cracking doesn't happen in a rush, but usually gradually, with successive theories chipping away at the bit length. Consider MD5: introduced 1992, theoretical flaws found in 1995, practical breaking in 2005. The thought is "we'd see it coming."
If the NSA could break SHA-256, they would not reveal that fact to the world by breaking Bitcoin - it's more valuable to them to break foreign government encryption. As a practical thing then, for now, we could behave "as if" it wasn't broken.
I'm sure there are ways governments can hack it not available to ordinary people.
>Setting up fake miners
>Hacking mining servers and replacing code with identical code with back doors
>DDOS attacks
>Simply declaring it illegal so you can't actually buy anything (normal) with it. Just drugs and hookers.
I'm sure there are dozens more ways I can't think of.
gold and silver
>19 million
I am so buttflustered right now.
I've got less than 0.25 BTC in there, and am contemplating selling out.
theres already quantum resistant coins out
Hash algorithm to be specific, but yes you are right.
>mfw i wanted to mine or buy bitcoins for ten years but i keep procrastinating because its too complicated
Again, you should conduct your own research as to what powers Bitcoin. Besides, there are significant costs to mine Bitcoin - ergo it's not worthless as you've put it.
You can go ahead and read about the Blockchain and how it's a revolutionary merging technology.
which businesses allow you to pay for services in gold and silver, again?
Right, but bitcoin is not one of them.
Another retarded ancap.
You complain about fucking banks and then when a currency arises that eliminates banks you call it a hoax.
Swear down you cunts are a special kind o retarded.
user don't sell now. Wait for the hard fork. Bitcoin is going to continue to rise until they release Segwit 2X. Sell it right before and then buy in again when Bitcoin is at an all-time low.
>bitcoin debit card
I've never heard of this before. I did have the idea of spending/earning bitcoins directly onto a card by having a SIM chip (or something like one) that's basically a wallet on a chip, which would let bitcoins physically be used the same way as giftcards.
Buttcoin!
in butt we trust!
enjoy all your money disappearing when the servers get shutdown.
I can literally call someone on Craigslist, go to their house and walk away with a used jeep, HDTV, cord of firewood with a small pile of folding green 100 dollar bills. And now I can do that with Bitcoin by taking a picture of my phone.
>daily Sup Forums bitcoin FUD thread
you realize btc only go down if every computer gets emp,and all storage from flash drives gets killed?
why has /biz/ been raiding Sup Forums so hard
I didn't make a million. I made a few hundred thousand though. You can always cash out via coinbase or debit card services. Why do it though? So you can pay taxes on it like some filthy communist? It's better to just hold and cleave profits via digital gift cards to buy items and pay bills. Tax free.
You can read Satoshi Nakamoto's white papers and he explains why Bitcoin is secure. He also explains why the probability of Bitcoin being hacked is so low and how the risk of it being hacked increasingly becoming exponentially lower.
i saw on alex jones that japan has accepted bitcoin as a currency and will allow trading it. prices are bound to explode.
LOL I was like that for a couple years, certainly could be richer if I hadn't done the same. You can still get in and benefit, so long as you overcome the emotions surrounding not already having done so.
There lots of services providing cards where you can deposit bitcoin and get an equivalent of it's worth in dollar to spend. Personally, use Coinizy.
by the time bitcoin private keys can be broken into with quantum computers, I'll already have bought land and gold with my crypto earnings. you guys can work the kinks out yourselves, I'll be innawoods watching western society collapse
Yeah, I know. I'm a developer. I've been mining for 5 years at home. Paying 1000 a month in electric bills to mitigate the heat from the servers. Wife was mad until she realized I'm heating the house in winter. What do you want to know?
You're right about storing your Bitcoin on your phone is a stupid thing to do. But again, most people prefer a hard wallet, which is essentially a USB like a device that stores your bitcoin or simply writing down your private keys on paper and hide it somewhere that's safe. This way nobody can steal your Bitcoin.
Then you should buy lots and lots of it.
So what’s gonna happen when miners don’t see the value in mining due to increasing electricity costs associated with mining?
Oi mate, spare us a million will ya?
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I'm not from /biz/ I only browse Sup Forums.
/biz/ is full of too many shitcoin pumpers. Some might be worth something and there is obviously potential to earn but I'm too busy getting rich off of low risk (relative to all other cryptos) bitcoin.
I want to cut-out as many middle-men as possible. Those services wouldn't be necessary if more stores accepted Bitcoin directly and the best way to do that is to make it easier for normies to use.
>implying people in the future will trade either land or gold for pretend internet numbers on a screen
Lmao try and pay your mortage or car payment or court fees in bitcoin and enjoy getting laughed at
Banks stopping international money transfers would kill it
During a major crisis, nobody using his precious power to keep validating the transactions would kill it
Global internet outage would kill it
Somebody with enough computing power to counterfeit the blockchain would kill it
They're doing it now, so why not in the future?
You can literally do all that shit if you order online. Fuel would be buying gift cards though.
>alex jones
the frog man?
Ordering food and stuff online is autistic. You can never be self sufficient with bitcoins they are not real
planning on exhanging into fiat before that ofc
/biz/raeli here. BTC core will always win. Everything else is a copycat shitcoin.
R A N G E B A N
A
N
G
E
B
A
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Those are toads
Did you just assume their species?!
First would triple it's value in a day
Second would only be correct if the "major crisis was of apocalyptic levels, anything short of that would increase it's value
Third would also kill much more important things
Fourth would be quite a somebody with quite more profits to be had with their computing power than messing with bitcoin
You double nigger.
>First would triple it's value in a day
Oh god yes, I'm still amazed over how it went from triple digits to >$7000 in value in the past year. Going to over $21,000 would make me a rich fucking bastard.
If fucking greace not paying denbts and blocking banks was enough to give it a healthy pump las crisis imagine what would happen if an actual country tried bank shenanigans.
>bitcoins they are not real
I have bad news for you about "real" money...
Just a metal.
The concept of money is imaginary. A way to keep us from bartering.
Lets play a game man
Ill go to a car lot and buy a new car and ill have cash
You show up with your bitcoin wallet and do the same thing.
Bitcoins are literally not tangible goods, nobody outside of the internet takes them. You cant buy groceries or pay your bills or do anything with them you cant even convert them into cash.
Buy it using your smartphone.
You're retarded. Not being accepted is meaningless. If I bring Euros to a car dealership they won't be accepted. Like Euros, I would first have to exchange the BTC for USD. And like Euros, there are places that accept them as is.
The fact that this pasta equals health of Bitcoin with price proves how much of a bubble it is.
But everything is a bubble now, so whatever I guess
>Everything is a bubble now
Especially your mum's ass.
> in an actual world changing apocalypse you will lose your bitcoins therefore its a poor investment
thing is this shit still wouldnt stop it
it is worthless
just like your paper money
its just credit that you presume you will be able to exchange for value at some pint. with paper money, you are probably right, since everyone has it, we're all interested in keeping its fabricated value stable
how many people have bitcoins? how many people will get into bitcoins in the next decade?
the answer is not enough
if you have bitcoin, get out quick, you don't want to be the last idiot with a bunch of worthless cryptocurrency you cant even sell to a museum
Dude if you could easily exhange bitcoins everybody would be running around with 100k of BTC and Ethereal shit. But you cant, its a scam
btc are easier and cheaper to exchange than gold. You're a nut, m8.
Only NEETs with no bills and who have never lived on their own say paper money is worthless. Go to any third world country in your travels and tell me dollars are worthless
No its not i deal with gold and silver all the fucking time. Bitcoin is a shitty investment. Very very few people have cashed out in it. Its bullshit, get a real job and buy goods. I started by flipping cars its way more rewardable
just because i can get something by giving you X doesn't mean X has inherent value or will have sustained consisten value
>I deal with gold and silver all the time
Bullshit. There's no way to exchange gold or silver with less a than 3-5% fee. It's not practical. This is why more companies accept a hipster crypto-currency than gold.
Thats the definition of value
okay
just because something has value in a specific exchange doesn't mean it has long term value, which is what you OUGHT to care about with fucking currency
and the reason you OUGHT to care about it, is because of what YOU already said
third world countries do not manage the value of their currency very well, and since it is not inherently valuable, they suffer the consequences