Bitcoin

what do you think about bitcoin going from being worthless to being worth millions?

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I think its going to crash soon and there will be mass suicides

I think that the flow of money into bitcoin, dead money, will impact governments and societies detrimentally, to the point of starvation.

>millions
It's wayyyy over valued now, I can't believe suckers are paying $7,000+ it's going to hurt when it comes back down.

cryptocurrencies are the future, but i don't think bitcoin is going to impose itself as dominant
russia, china, usa and other governments have already started funding their own coins such as onecoin and they simply won't allow a privately owned company to dominate the market

>This
Ponzi shemes like bit connect and their automated trading are going to sting an awful lot of people

fingers crossed

fiat is helluva drug

The NSA owns Satoshi's private keys and they know how to undo SHA256 seeing as how they invented it. Poloniex and similar exchanges with murky origins and ownership are all fed operations. It's nothing but a huge govt op.

I am jealous, I had so many times to jump in with 25K of cash I had sitting in the bank and did not since early 2012. Fuck, 25K * 2000 would be 50 million.

>yfw you wanna have those precious bitcoins

t. jealous no coiners


how much is tin foil going for nowadays?

its not too late, just hold ethereum for the future - its going to end up being more stable than btc

A big scam, can't wait for the crash.

And don't blame the jews when it happens , you guys thought you could make easy money , get fucked

I love how visibly butthurt you are about this, its one thing to be indifferent but you are literally wishing bankruptcy upon people - simply because you are jealous

wew lad

Get fucked cunt. The crash will be comedy gold on /po/.
If you don't have at least 10BTC you may as well be a nocoiner.

I means Die Juden have lots of it

>Ponzi scheme is gaining speed.
>Better invest now goy or you might miss out.

look another no coiner Zzz

keep getting cucked by the banker jew like a good goy

Looking to get into ethereum, there are prognostications that it will overtake bitcoin

I went all in Chainlink

Just fucking end my suffering

Top kek. I'm a nocoiner, and even I could see that was a bad idea.

Blockchain technology will prove without a doubt, that hitler did nothing wrong.

Very undervalued imo

I think it will crash, but remain valuable, and that crypto as a slice of market share will go up, a lot.

Bitcoin itself will go down, but not like people in here are predicting. I think consumer confidence in it will cap in the 9k range and it'll correct down to 4500-5k then very very slowly tick back up indefinitely, joined by other good cryptos.

Also, kicking myself for listening to pundits and not trusting my instinct and buying buttcoins when they were literally pennies.

>thought you could make easy money

tfw you made easy money

You're right that central governments are attempting to create their own coins to retain control, but the reason bitcoin is resilient and dominant is because it is open source. This means any and everybody can inspect every line of coding required to implement the bitcoin blockchain. The value of bitcoin comes from the fact it is worth everything, or nothing. As soon as you hack a cryptocoin, its value falls to nothing - everything you just stole becomes worthless. Open source ends the "race to the bottom" economics of the post Nixon Shock fiat era. It encourages participants to improve and defend the tech.

Compare that to a closed source, or centrally controlled alt-coin or hard fork on the bitcoin blockchain. That token is only ever as robust as its weakest single point of attack. And that weak point is almost ALWAYS human greed. Closed source means a coder can introduce a backdoor. Think Snowden, but with money: a programmer finishes the United States cryptocoin, takes his annual vacation to celebrate and, while in the Maldives, gets picked up by a private plane and flown to China. There he reveals the backdoor, and China has all of America's cryptowealth by the balls.

That is why closed system cryptos have not panned out. Banks got there first, central governments are 3 years behind them. Central banks tried to build closed versions of Bitcoin, and realised the inherent weakness of their competing closed networks. JP Morgan has about a hundred patents on failed cryptocurrency projects. Now, banks are working together to develop blockchain-based tech that they can share.

Governments are slow, because they cannot afford the best minds on any subject, (banks pay more). So governments are a year or two away from understanding why a centralised cryptocurrency is too brittle & risky to contemplate in a real-world setting.

Interesting times. The more I read up on the subject, the more I think that EVERYTHING else is a slide to keep you from buying BTC:

This nigger knows.

I bet you didn't cash out shit

Agree, but the people who maintain the source may be a problem in the near future.

let it be true. I can then buy more of them.

1 coin is 1 coin.

it only matters on the value of 1 coin. that value is dependent on a few things(intrinsic value not being one).
it's USD value is irrelevant unless you wanna buy USD. same with its value against YEN, CNY, KRW, AUD, so on and so forth


95% of ICO's are insane, redundant, 95% of people in crypto will lose alot of money. get burned and turn off it. All because they didn't listen or chose to ignore.

also worth mentioning i can say for a fact that anybody they would employ to work on their blockchain would be buying bitcoin himself.

Let me tell you a strory...
>Be me.
>I'm in property. Buy it, sell it, rent it, refurb it
>Get involved with a few properties in Spain
>Holiday rental market is pretty good
>Exchange rates are expensive to buy, sell, rent
>I'm quite active on a property forum
>I'm moaning about FX
>A guy mentions this new thing called bitcoin
>Can be used cross border with no FX fees
>I get the Idea. It sounds pretty interesting but nobody is using it
>He gets shot down by others
>They call it shitcoins. I kek
>He gets mad.
>Well, if you think it's that good. Buy it and let us know how you get on lol
>He's fuming. There's your proof. I've bought 1k (GBP) of bitcoins.
>Everyone laughs.....
This was late 2011 he paid literally pennies for them. He still posts. He still has his bitcoins. Unfortunately, I'm not that techy and setting up wallets was too complicated for me.
I still think it's an interesting idea to get away from (((merchant))) fees and fx fees.

Blockchain are shutting down for 24-48 hours over the fork period.
no deals for goys

I think it is how Soros and other terrorists move money around to finance terrorism and pay operatives. It should be bricked by legit governments.

Good. I've been telling friends and pol to get on this tech for years. They wouldn't listen. Now I'm retired at 24. Feelsgoodman.

MFW, bored highschool dropout who now buys 10K in gold and silver per month from JM. Parents retired, sister and her kids taken care of, all family properties and trucks paid for. I quietly work my job knowing I have as of today, $257K in reserve and $165 left to buy gold and silver with. Sitting on a reserve of 37.5 coins I'll never have to touch. I paid

> inb4 Why Buy GOLD REE it defeats the purpose.
>Highschool dropout.

Bitcoin is still technically open source, but it is getting more and more centralized. Centralized mining. Centralized code control. Centralized governing body. Centralized exchanges.

Bitcoin Cash is more open then BTC, and still acts as a store of wealth.
Monero has more utility with pirates, black markets, and people avoiding governments so it will become and remain popular.

> I have no idea what a currency is: the post

There is a phony "war" happening within the crypto-space. An idea that certain implementations of blockchain tech are "correct", and others are "wrong". The discussions and arguments about which is the "evil coin" are silly and redundant. If a token functions as a transactional unit without breach or replication, it does not require online fanboys propagandising why it is good and the others are bad. That is just onanism. It is the cryptocurrency version of Eternal September - where over-enthusiastic but under-informed participants want to make themselves heard, but don't really have anything to contribute.

I don't see BTC, BCH, or B2X going away any time soon. But what a lot of people fail to understand is that the trading value of these tokens is nothing compared to the radical change that implementations of the tech will have on economies and societies - even your own home. That shit is the exciting shit. I get that if you are in the Philippines and you are now a dollar millionaire, it is hard not to get emotional about the coins you hold but, as I said before, your thinking is old world. Crypto is NOT the race-to-the-bottom of fiat that you are used to. One token rising in value does not make the death of other coins more likely. Grasp that, and then move on to really understand the significance of this tech.

0d7d4bb2-f48f-49e9-a920-8d667c0f4d50

I'll crow if I get some

Irrelevant.

Quantum computers will make blockchain technology obsolete, and with it, Bitcoin and all other cryptocurrencies.

when should i buy eth? doesn't seem like it's going to dip

also where

Hey! Let us all convert back to FIAT and buy stuff.
>...and I lost money
>"buh buh buh, I can buy things"
Go ahead faggot, buy us beer if you can.

People have been saying that since 1967

>
show me a store where I can buy groceries with your illegal drug money currency

More transactions than bitcoin already
Cheaper transactions than bitcoin
More developers than bitcoin
Can do more than just be a coin
Roadmap to move away from massively wasteful energy POW to POS
Quantum resistant algorithms in the plan
Doesn't have a contentious developer political problem

Yeah it has a chance.

>I can't believe suckers are paying $7,000+
the only reason people buy in is to avoid bank regulations or conduct illegal transactions

>but the reason bitcoin is resilient and dominant is because it is open source
I thought the reason it had value was because the deepweb drug dealing deepstate military people only accept bitcoin when you want them to mail you some cocaine

I'm very fond of the idea of electronic cash, i.e. uncensorable, anonymous, long-distance payment system. However, right now bitcoin doesn't seem to be particularly suitable for mass adoption and its current price is purely a result of speculation.

When the market cap gets large enough so that it can't be pumped and dumped by a single wealthy trader

Then it is real

Depends where you live - in the US, coinbase is good. Set up an account, use a wire or ACH transfer and purchase on the GDAX exchange (connected to Coinbase). You can also use a credit card or bank transfer to purchase directly from coinbase but there are more fees involved (but the purchase is immediate) - this is a good method to purchase if you suspect a fast rise or want to buy a momentary dip.

After the bitcoin fork, it will be very interesting and I believe Ethereum has a strong backing with good/non-contentious leadership and many more developers/business relationships.

fpbp

and from scrappy serbia no less pls rise to glory im a fan of your work

you can't win em all but if you still breathin you still in the game

easy - use a cash back credit card, and sell a bit of your crypto. As long as you aren't a pauper and are terrible with your finances you don't need to use the crypto directly (yet).

Wow you’re the only one who could’ve bought it at a low price and didn’t. What are the odds?

Nonsense. Quantum computers with enough quantum bits can crack the current bitcoin encryption, but there are plenty of encryption algorithms that aren't similarly vulnerable to quantum computer cracking. Bitcoin and the other coins will change the encryption once quantum computers start getting close. Quantum computers won't make crypto coins nor blockchain obsolete.

Coin supporters generally have $40-$700 worth. The people making real money off it don't talk about it, since the government is going to be hunting them down soon. They are silently gathering trade data from exchanges and will bring the tax fist down soon on american holders that cashed out.
If someone says "nocoiner", they either have 0 holdings or the range I mentioned.

That's what took the price to $35. By the time it got to $1200 and then fell back to $200, the Deep state narcos had realised it was too unpredictable to use in the execution of stings, because if they timed it wrong the buyer/seller they were targetting could end up winning the lottery from them. So they went back to using HSBC and Wachovia Wells Fargo.

I have no faith in cryptocurrencies myself

Don't bother with ETH, it does not seem to be going anywhere. I've been sitting on 2 coins several months now and it has only moved a bit down. Bought it just before the chinks decided to fuck with it and now nothing is happening.

I'm just waiting for it to go from 300 to 350 or something so I can take my money and leave.

Is BitCoin too volatile to be taken seriously as an alternative currency? If BitCoin's objective is replacing the fiat currencies of the world, then it needs to stabilise at some point. That way normal people can properly contextualise the concept. I think this is too difficult at the moment.

Example
>person a: I would like a coke please
>person b: that will be 0.000078btc

Can someone prove me otherwise please

it's a ponzi scheme by now. hardly anyone will use it as a currency because the deflation is too high. instead they buy more coins in hopes that they go up even further.
at some point they'll hit a ceiling and then it will go down.

maybe in the long run they'll manage to establish themselves, but for now they serve no other purpose but speculation

B U B B L E
U
B
B
L
E

Be careful, anons. Pullback coming soon

>be bitcoin
>want to replace money because money is worthless
>base worth off of bitcoin vs worthless money
>mfw

Balkan bitch jealous.

sucks i missed out on it.

it was 1800USD/BTC when I started getting aware of cryptos, I figured I missed the boat and it wouldn't go much higher.

Oh well. At least I have ETH and that....oh, it just moves sideways forever. Well, at least I tripled my $ on that.

>>person a: I would like a coke please
>>person b: that will be 0.000078btc
that would be the smallest problem. just call it 0.78 milli-bitcoin to shave off all those zeros.

the bigger problem is the deflation. I am not going to spend my $500 of bitcoins if by next week they could be worth $600

>Can someone prove me otherwise please

No, and this is because of how it is set up. There's not much shorting allowed, so there's no built-in counterbalance to keep it stable and usable as a currency. The downside of allowing shorts easier is that (((institutions))) will be able to pour money into knocking the price down for a while, but that's the cost of finally allowing BTC to find equilibrium.

this rapid growth this year attracts only attention, but there is no real solutions for tomorrow, it's just hype.
It's gonna drop pretty hard soon, lot's of whales are already in alt coins, check most popular alts, you will see growing trend in volume on them.
you are stupid for buying btc now

>0.78 milli-bitcoin
But this is a major problem. Valuation, and a lot of economic prognostications, are based on faith - belief in the market/investments potential. Normal people using the currency won't be able to take it seriously. We laugh at shit countries like Zimbabwe and Vietnam that have an exchange rate of 100000 to $1 or something. It's exactly the same concept with BitCoins.

Nobody can deny that it’s a bubble fiat currency. It has no inherent value like gold does. It has no useful physical properties like gold does. I mean sure the block chain does but it’s decoupled from bitcoin in a way. Also quantum computing can render bitcoin pretty much worthless overnight.

The only question is when the bubble bursts. Is it $10k? $100k? $500k? Nobody knows and honestly none of these predictions are out of the question. Analysts are saying $1M is possible even. It’s all dependent on how many suckers you can get to buy into this fiat. Treat it like a Ponzi scheme. Get in, set a goal, and get the fuck out before you’re stuck holding the bag. I bought in at $1k for 3 BTC. I’m getting out at $10k without hesitation. My floor is $800. I’m fine losing $600 for a potential reward of $27k.

Even Monero will overtake Bitcoin

if it's solely about the psychological aspect, slap another conversion layer on top of it. where the value isn't shown in BTC but whatever fictional value you made up for it.

>introduce crypto-thalers
>conversion rate is 1e6 CT to 1 BTC
>GUI of all related software only displays the CT value, never the BTC one
most people would be too lazy to look into it and it would change absolutely nothing about the actual value of the currency behind it, so the psychological aspect is rather easily avoidable.

but obviously you need to stabilize BTC itself first.

"Blockchain is valuable; bitcoin is not" is a meme created by old media pundits who did not understand enough about cryptocurrency to form a solid criticism of it - it sounds like they know enough for you to do badly if you challenge them on it, but in fact it is incorrect.

The value of the blockchain is that it is a trustless, open ledger system. It has thousands of potential uses and implementations, and it probably will change the way commerce is conducted for a hundred years from now. Bitcoin is a byproduct of the work carried out on the blockchain. It is the token of authenticity. It is intrinsic to demonstrating the work carried out on the blockchain is legit. You do not get one without the other.

The confusioon comes from the fact a lot of people treat the crypto space like it is just a replication of the forex market. It is not. It is actually much more interesting, and more valuable than that. In many ways, the participants who just sell their tokens back and forth to try and slice some profit off the top are just really boring and unimaginative users of the technology. Is the price in a bubble? Maybe, but probably not for the value and significance it has in the long term. It is probably ludicrously undervalued as of today. But only looking at the cryptospace in the terms of "if I sell x I can get this many notes of my chosen fiat currency", then I can almost guarantee you will enjoy suboptimal outcomes in the long term.

Anyone want to help a poor user with fictional money, please do.

1TgQ5s7m7gsW4VyY7gAqodV3roncuAV5J

How do you nocoiners cope anymore?

maybe it's jew trick undercovered.

>muh money laundering
Keep licking that boot goy.

>It has no useful physical properties like gold does. I mean sure the block chain does but it’s decoupled from bitcoin in a way.

I own bitcoin. All you faggots missed out cuz you're wagecucked /polfags. Too bad. You shouldve taken notice when bitcoin hit a 1000 when Trump became president. Bitcoin will be 100k in 5 years. No sweat, its the strongest currency reserve system on the planet and other chains are using it a historical timestamping mechanism.....but yeah keep saying its a scam bahaha.

by becoming ignorant hazcoiners.

>but obviously you need to stabilize BTC itself first.
Which will never happen.

Also, how can people take BitCoins seriously when 1 btc is worth more than 1 ounce of gold? I know there will be some memers here laughing but gold, as a metal, has more intrinsic value than btc. Gold's properties go far beyond just being the reserve of fiat currencies.

Shut the fuck up, i lost a grand playing this money game you fucks stop reminding me

Shows how bogus modern finance is that you can create this much wealth without value.

Keep telling yourself that.

it's simply a ponzi scheme that hasn't run its course yet. so far people are still laughing and calling everyone not participating a fool, because so far it still works.
but eventually they'll hit the wall

If it was fully embraced, the government would probably acquire full knowledge of all transactions. The reason is simple: it would be either that or blatantly anonymous (in which case it would never be adopted). With the later, tax evasion would skyrocket and I assure you we would all live in a world of shit.

IRS is trying to get records from Coinbase so I can track people and tax them. Seems pretty legit...

>With the later, tax evasion would skyrocket and I assure you we would all live in a world of shit.
Mass surveillance isn't the only way to ensure tax compliance. Right now, we have cash (that provides total anonymity and untraceability) and several decades ago there weren't any alternatives to get people into voluntarily submit to government control. Yet, taxation existed and rates of tax evasion weren't higher than today.

A ponzi scheme requires new entrants to pay the dividends of the early adopters.

That is self-evidently different from the structure of bitcoin markets.

Is it interfering seriously with governments attempts to control funds going into and out of their countries? Bitcoin can fly under the radar as long as it doesn't interfere with policy goals involving control of banking. As long as governments can stay in control of money flow or it's too small to bother with bitcoin can rise. But should governments decide they won't allow exchange of money to bitcoin and vice/versa bitcoin will become worthless. Maybe governments feel they have that control already, but when people start moving billions of dollars worth of money into and out of bitcoin routinely, governments will outlaw it, and they'll succeed because there is no bitcoin economy to support it to speak of. Certainly not enough to justify its price.

I have about $400. Am I safe?

it IS going to crash soon, after the segwit2x fork. 85% of hashers are moving to b2x because the fork will support larger transaction volume, the current bitcoin protocol is clogged down and slow.
Most normies are investing in bitcoin so that they can double their coins during the fork.
The smart people are selling off before the fork while its at its highest, laughing while the market rapidly corrects itself after the crash, and then investing in B2X

Can someone explain to me what's stopping a company from converting their monthly revenue to BitCoin and then back to fiat to escape tax? Is it legal? Are any companies doing it?

Correct. It's technically a pump-and-dump hybridized with short-and-distort. It does have characteristics of ponzi/pyramids though as the shilling is done on a larger scale via mass media and public forums, rather than individual cons.

tax laws are different in every country.
Here in the US there is nothing stopping a business from investing in bitcoin with fiat. But once the bitcoin is converted back into fiat and withdrawn it is taxed as a short-term capital gain

FICO and the SEC have patents in the works to monitor exchange data, bank transfers to/from exchanges, and cash outs. As long as you don't cash out, you're fine. The government just wants their 40% on cash outs.

nothing like a ponzi or pyramid. A ponzi is when people are tricked into investing in something and people are paid off using other's investments when there is nothing to invest in. Pyramid schemes rely on gaining profit from having people purchasing directly from you and it feeds up to the top. There is nobody at the top of bitcoin and nobody directly profits from shilling it online.
I understand how you have a hard time understanding it tho. It is purely a monetary system that removes the need for bankers and centralized control over money and also creates a system different from the 'wealth via debt' system we have now by using crytographic techniques to force wealth to be generated by work, and not debt

This ponzi scheme has gone far too long.

This:

youtube.com/watch?v=DgRLlqEvOT8

Turns out something has to have value to be valuable in the long term.