Bitcoin scam

Haha stupid bitcoiners fell for the scam I could've made 10% ROI if I invested yesterday but I'm way too busy patting myself on the back for not making money. Ever heard of tulips? Seeya later bitcoin retards.

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en.wikipedia.org/wiki/Shor's_algorithm
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forbes.com/sites/timothylee/2013/04/11/an-illustrated-history-of-bitcoin-crashes/#2657326b4039
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Be careful, it’s a bubble. If you don’t understand that, then you’re not good at finance.

if you believe this you dont understand cryptocurrencies

look at this dood

Wish me luck.

bitcoin will not become worthless until a machine is able to crack 256 bit elliptic curve cryptography

Great. Now show us what you have bought with it. Show us a video of you getting cash out of crypto.

Protip: you can't.

Still pushing this memecoin shit eh?

You will never in your life, in fact no one here, ever in their short pathetic lives, will ever meet anyone that has purchased anything but drugs off the darkweb, using memecoins.

Stay assmangled, memecoiner.

>stockholders arent wealthy unless if they liquidate all of their stock
this is not how things work, why tf would you sell off everything thats turning a great investment? you sell off small amounts when needed

>Show us a video of you getting cash out of crypto

Aside from compromising anonymity, you can sell in person or online via localbitcoin whenever you'd like, go ahead and try it

that or with a ridiculous fee from coinbase, so I'd choose the latter

there are literally crypto-AMT's in my city.

*crypto-ATM's

>Portfolio value $24,000
>only has 3 bitcoins
>bragging

haha show me somebody buying groceries with a share of ExxonMobil rofl good luck retards it's basically worth 0 stockscamers btfo

If you believe this, you don't understand cryptocurrencies. By definition, they're set out to die eventually. The amount of coins that can be produced is limited, and if you consider that many things result in frozen coins (e.g. deleting your wallet), it's only logical that after all coins have been made, the number can only go down, which will eventually reach critical levels and make the whole system impractical. That's the equivalent of the ultimate fate of the universe for a crypto, and with IRL money that doesn't happen because you can always print more. That doesn't matter much, because in addition to being inherently finite, it's also a speculative bubble that will burst; proof is how unstable it is when reacting to supply/demand (e.g. that one time weeks ago when it dropped $2k because some people shilled another coin).

>BTC value $100
im not investing because its a meme
>BTC value $500
still worthless
>BTC value $1000
but thats not real money
>BTC value $2500
people who invest in BTC are stupid, im smart by NOT investing
>BTC value $5000
bitcoiners are dumb, lol, Mexican Peso 4 life XD!!
>BTC value over $9000
Boy, all of these people who invested in bitcoin sure are stupid

thats what you sound like

dwave quantum annealers are up to 2000bit, governments and big tech can already crack it.

>haha u cant spend bitcoins haha what did you think you can just spend them? haha

lol btc trade volume 4 billion 24 hours those dumb scammers I'm so glad I got my money in my bank of america savings account

Implying big gov and banks by proxy don’t already have this technology and won’t crash the bitcoin market as soon as trump moves an inch towards ending the fed reserve

>The amount of coins that can be produced is limited
meaning they increase in value over time
>if you consider that many things result in frozen coins (e.g. deleting your wallet)
if i were to delete my wallet it would not affect the value of btc, i would simply be careless. the same argument could be made for using paper money which could be lost or stolen
>which will eventually reach critical levels and make the whole system impractical
hard fork
>it's also a speculative bubble that will burst
no coiners have been saying this for years now
>proof is how unstable it is when reacting to supply/demand
the instability has been caused by its low market penetration. the more people invest and trade btc, the more stable the price becomes
> that one time weeks ago when it dropped $2k because some people shilled another coin
thats not what happened, this was because of an aborted hard fork. people had been massively investing in BTC in order to profit from a hard fork and causing BTC to overinflate in value by 1500 or so. when the fork was aborted, people sold, causing it to drop back to its uninflated value

maybe, but maybe not, 256 bit EC keys are quite a tough cookie. if this is possible, then our entire known crypto system is broken and the government would have moved on to massively larger key sizes, such as in the MB, and the proof that CAC cards are still 256 bit key sizes shows this has not happened yet

Up 33k dollars in 6 months.
*shrugs smugly*

Skip btc though, go for alts.

Again, if you think they don’t already hold this power, hold your breath and count to 9000

if this technology is out there then why has the govt not taken measures to protect their own encryption against it?

You haven't spent any of your memecoin money because you can't.

:)

theres entire online marketplaces similar to ebay where you can purchase exlusively in btc or alts, and if u want usd you can simply sell on an exhcange, theres no shortage of btc buyers right now, trust me

but you can only buy coins at them?

no, you can only trade coins for USD at them

>bought steam games using meme coins
>bought PMs using memecoins
Damn it's a shame I'm just using drugs all the time because some retard believes this

You think they would just tell you that? I'm sure they have where it matters.. but also, if you had the keys to the kingdom, would you tell your enemies?

you basically go to the ATM, tell it what you want to withdraw, it gives you a QR code to scan and you send it a payment

Your equivalence doesn't prove what you think it does. You claim that BTC is like some stock, because in order to cash it, you need someone to buy it from you; that's true. But you also imply that stocks are inherently worth their price, just for being stocks; that's not true. You could compare BTC to ExxonMobil stocks, or you could compare it to Theranos stock. Theranos stock was worth a lot once, but it could never have succeeded.
>meaning they increase in value over time
Wrong. That'd be only if there was demand, which comes from either a foolish desire to get rich, or the existence of practical uses. Only the first one exists now, and it will stop existing by then.
>if i were to delete my wallet it would not affect the value of btc
It would affect the amount of coin in circulation and therefore the ease to find other people to carry on transactions. Imagine if everyone in the world had 1 BTC; now imagine if only 1000 people in the world had 1 BTC (or millions for that matter). You can't possibly claim that it'd be worth anything in the second scenario.
>hard fork
And it will be worth the same as other coins, that are not speculative bubbles.
>no coiners have been saying this for years now
Also the Nobel prize winner who predicted the house bubble and the 1994 thing, a person who has been researching speculative bubbles for decades. It's not a secret that the only thing pushing BTC to grow is the demand generated by people who want to get some to cash them later, but that is not sustainable because the product doesn't even have a feasible use in itself. That scheme can only grow so much.
>the instability has been caused by its low market penetration
And that's not a good thing.
>the more people invest and trade btc, the more stable the price becomes
Exactly, after it reaches critical mass and the bubble bursts, it will be pretty stable at around the same price of other coins.

>You think they would just tell you that?
they wouldnt tell you anything, they would simply migrate to larger key sizes such as on CAC cards and tell you that it was for increased protection. they havent done that tho so either A) the necessary technology to break the keys is not known to the US govt or B) they know it exists but want to ignore it and choose to make all of their systems vulnerable
which do you think is more probable?

keep cyring, juan

You're mad as fuck man. I understand that you have to shill hard to keep your investment from dropping (you're like half of the comments ITT kek), but unless you find some retard to take it off your hands you're fucked anyway. Good luck.

>You claim that BTC is like some stock, because in order to cash it, you need someone to buy it from you; that's true. But you also imply that stocks are inherently worth their price, just for being stocks; that's not true.
i agree mostly with this, but come on Juan, your argument holds for literally everything. Gold is not worth anything unless you turn it into USD, and by proxy, USD is not worth anything unless you turn it into food and water. and thats correct, but your selling yourself short and ignoring an entire dynamic you could profit from

>it's only logical that after all coins have been made, the number can only go down

Could you explain why this is logical, i don't get it.

it's a bubble, it will pop. the question is who made a profit and who is left with the stock.

the moment governments criminalize it, and they will, the value will drop

how long until your people order it to be illegal in US?

>the moment governments criminalize it, and they will, the value will drop

Nigger wat

People sure like to talk about things they don't shit about.

>Gold is not worth anything unless you turn it into USD
Wrong. Gold is generated in very high energy reactions that are very rare in the universe, such as gamma ray bursts, and that's why it's a rare element, and also why its distribution is homogeneous everywhere. You could take gold to any civilization in universe, and they would recognize it as valuable. It also has great proprieties. If you're comparing BTC to gold you're deluding yourself, because you can't even trade BTC for most stuff in most places on earth. As a matter of fact, the whole X -> USD -> Food thing would also be a problem with BTC, because you can't even trade BTC to USD unless some retard wants to buy the same amount of BTC.
Because some coins will always keep going out of circulation (lost wallets, accounts with illegal proceeds being watched by law enforcement, et cetera), but no more coins can be created to replace them.

>my people
not my peoploe, but it is so related to criminal activity it will be made illegal. the same thing is happening with cash, they want to make every trans action monitored, to stop black market deals

>Because some coins will always keep going out of circulation (lost wallets, accounts with illegal proceeds being watched by law enforcement, et cetera), but no more coins can be created to replace them.

I wouldn't worry about that, there's quite a few lol

Even if 90% were lost somehow i don't see how that would make bitcoin die, or decrease it's value, on the contrary.

dude, this is super untrackable, but you are super trackable, the government can know who is dealing but they know what you are doing. your internet provider knows and there are already providers that will block illegal activity like downloading

>economic value is derived from physical processes and not what people are willing to pay on the free market for it
holy shit.
ok. then bitcoins are worth something because their generated by very low probability brute-forcing of 512-bit sha hashes each of which currently take as much electricity as an entire nation uses during that time period, and as time goes on this value will only increase making it even more rare and valuable
>but it is so related to criminal activity it will be made illegal.
and this will surely be the argument made, but the fact is it has become a very legitimate investment vehicle

Yeah hey billion dollar company, ur like used by criminals & stuff so ur illegal now m8, git rekt.

-Sincerely the president of Earth

until it's illegal, and then it will be worthless

I fully believe that distributed monetary systems like bitcoin or other cryptocurrencies are the basis for the future of money, and I also fully believe that at some point ((They)) who currently control the world economic and monetary platform will either have to choose to go along with something they cant control, or fight it.
And I fell that they will probably try to fight it using the argument you made

Yo Russia, there's alotta criminals using ur currency, ur currency illegal now yeah? Git rekt senpai

~Signed president Obongo

sincerely Ms. merkel
sincerely mr. Trumps
Sincerely mr. nosy leader who wants to a reason to creep into your privacy

>until it's illegal
I have no doubt ((They)) will try to do this once they see themselves losing control over the worlds monetary platform simply as a power play to stay in control.
at that point I hope to god there will be riots and a change in the power structure as a result of it

Nice try anti-coiner, some people have purchased child pornography too. BTFO!!!!!!!!

>it's illegal

ITT biztards trying to scam polacks into buying their bags while the mods watch and do nothing because they have $9000 bags of SHA256 checksums too.

yes and they do it even more often with the USD, of which there are no electronic records when cash is used.
ban the USD

and cops.
don't forget cops.
once you can find a "criminal" you can jail him for years a t a time.

>but user, if you have nothing to hide why are you using the secret currency?

That's not what he said faggot. Go be 10 somewhere else

We want more money so companies not owned by government be illegals now. Get with the program.

~President Mong

>Cryptography evolves together with technology. There are already cryptographic techniques planned for the quantum computing age.

But yeah, stuff like RSA is also targeted, since it depends of factorization which will become easier in the future en.wikipedia.org/wiki/Shor's_algorithm

dont be silly, the ones pushing for control are government, and they can deal with crypto easy peazy

>but user, if you have nothing to hide why are you using the secret currency?
the more it is used as an investment vehicle the less this argument will hold.
with stuff like this:
>cnbc.com/2017/11/21/jpmorgan-reportedly-getting-into-bitcoin-futures-trading.html
that argument will fail quite quickly

how did that work out for half the world?

Good job on making all that money with BitCoin! Now all you need to do is cash out and- Oh wait. You can't turn any worthwhile amount of BitCoin into real money or practical goods/services!
AHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

>But yeah, stuff like RSA is also targeted, since it depends of factorization which will become easier in the future
of course. and until we have a new system of cryptography, while we are relying on the product of two very large primes the only option is to make the key size large enough it is not easily factored

>Even if 90% were lost somehow i don't see how that would make bitcoin die, or decrease it's value, on the contrary.
Because it affects the ease of using it retard. How much would BTC be worth if only 100 people had all the coins in existence? They'd say that it's worth a fortune, but for everyone else it would be worthless.
>economic value is derived from physical processes and not what people are willing to pay on the free market for it
Wrong wrong wrong. You're seeing BTC as a product, when allegedly it's money, not a product. Then its worth must be defined as you define the value of money, not that of a product; do you even economy? The fact that you think this way shows that you don't think about using BTC as money; to you it's merely a thing that you hold until it's worth a lot, and that's precisely what created the bubble, and also the reason why it's going to fail. In order for the value to sustain itself it would be necessary that a system where people trade with BTC widely and seamlessly exists.
>it costed electricity, therefore it's worth that cost
Again wrong, I don't think you understand this stuff. I can turn on a heather and that doesn't increase the value of the air in my room; I could sell the air to some fool faggot though, and that's exactly what's going on with BTC.

>but if the banks are doing it it must be reasonable.

if ligitimate firms are investing in it you cant use the argument that it is only used for illegal drug deals unless if you want to arrest the bankers as well

I literally can’t figure out how I know I’m an idiot please god someone tell me I have hundreds to invest

>Because it affects the ease of using it retard. How much would BTC be worth if only 100 people had all the coins in existence? They'd say that it's worth a fortune, but for everyone else it would be worthless.

Wat. I mean u can own 0.000001 bitcoin.

There being less bitcoins in the world as a total, doesn't mean less people will own bitcoin.

>the sun made it therefor its worth stuff
this was your argument for gold

You don't know what you're talking about, just admit it.

yeah but they are going to be bailed out.
they need to creat the illusion of wealth

>yeah but they are going to be bailed out.
cant argue with that one

I cashed out BTC when it hit $100 and bought pic related.

the amount for read/writes my SSD's can do is limited to a finite amount but i wouldnt reach it unless i was reading/writing non-stop for 20 years


I imagine bitcoin is similar

very nice.

Stop deluding yourself. Also learn astronomy:
Gold
>has universally useful proprieties
>is evenly scarce everywhere
Therefore it's worthy.

BTC
>value on a screen that keeps growing as more people are scammed into investing their money in the scheme
>but it barely has options to actually use it
>if you're a BTC millionaire you'll never be able to cash it out to IRL money
>only people in your niche circlejerk accept it as currency
Therefore its only value comes from the demand generated by the people wanting to get into it because they want to get rich. Once that growth stops it doesn't have anything else going for it, and people will want (try) to cash out, either succeeding and making the bubble burst, or failing and entering a roof state where nobody wants to do any business involving BTC, effectively closing it from any IRL trade.
Great argument. I've been an economist for 30 years. Do you also study economic systems, or just collect some warcraft gold and stuff?

I agree that btc has no inherent value, my point is that neither does fiat. it is only as valuable as people are willing for it to be, same with gold.

The indivisible unit of which there are a finite amount is 1 satoshi which is only worth $0.0000937551. It needs to grow at least x100 to get to the level of previous tech bubbles. The Chinese used Bitcoin to move their money out of China and invest in Canadian real estate but they've found out it's better to just keep the money in Bitcoin. The real estate bubble is the biggest bubble in the world by far, it locks up most of the worlds wealth.

>jews being threatened by crypto

Pol hates the jews

Pol desperately tries to become the jews through a pyramid scheme

Really makes ya think

>Great argument. I've been an economist for 30 years. Do you also study economic systems, or just collect some warcraft gold and stuff?

Authority appeal is also not an argument.

My argument was "There being less bitcoins in the world as a total, doesn't mean less people will own bitcoin."

In case you missed it

Decentralized ledgers and smart contracts can take control away from financial institutions. Cut out the banking jews as a middle man.

>Buying at an all time high

nice reddit spacing

ITT: All crypto is BTC, no alternatives exist

Bitcoin bubbles make absolutely no sense to me. The higher their value becomes, the more I kick myself for not investing at $100-500. But I don't think I'll ever invest in them because I don't see how their value could keep increasing. I don't see it as a safe investment because I'm totally clueless about the entire phenomenon. Why didn't the bubble pop five years ago?

Did you just ignore everything above the appeal to authority? The actual argument?

And
>"There being less bitcoins in the world as a total, doesn't mean less people will own bitcoin."

Yes it does. Maybe not immediately but eventually. Look how REAL MONEY works. Same thing happens.

Won't work. You are intellectually dishonest anyways. You hate the jews yet are trying to jew everyone you know to buy into the pyramid scheme so you can make money. You're actually worse than the jews because they are at least born into the money. Your envy and greed is causing you to fuck over people.

That has nothing to do with it. Fiat is used as a medium of exchange in transactions that involve products and services. It can be real stable because a lot of people use it pretty much everywhere; it has no reason to suddenly lose 90% or more of its value. BTC on the other hand doesn't depend on the same factors and doesn't have the same stability, because an overwhelming majority of people holding it want to get out as long as it peaks or before shit hits the fan. The thing is that they haven't done it because there's no way to know that beforehand, therefore they're speculating; that's why it's called a speculative bubble. The issue is that there's no wide support for BTC transactions, and no convenience to use it as money. BTC is definitely a bubble, which was the original claim that you denied.
Doesn't mean anything in practical terms. Dividing money below the minimum cost of products/services is something that happens only in theory; in practice it means nothing. Let's say I can own a coin for 0.0000001 buck, So what? What am I gonna buy with it? If the minimum price for something is a cent, in practice I still have to own a bunch of money in order to perform a transaction. That's why the fragmentation you mention is actually a bad thing, not a good one.
>My argument was "There being less bitcoins in the world as a total, doesn't mean less people will own bitcoin."
I missed it, sorry. It's wrong by the way. Less coins mean less people owning them. It's really just the pidgeonhole principle in reverse. Also, for how that is relevant in practice, see what I replied just above.

For a Jew you're sure shit at jewing. You let the crypto market grow, identify a weakness, and subvert control of the market through said weakness.

It did, several times.

forbes.com/sites/timothylee/2013/04/11/an-illustrated-history-of-bitcoin-crashes/#2657326b4039

I remember considering investing in bitcoin when it was worth $15 with a friend and then we decided it would robably crash. If i had done it, id have 15,000,000. FEELS BAD MANTL

Time for archive
unvis.it/forbes.com/sites/timothylee/2013/04/11/an-illustrated-history-of-bitcoin-crashes/#2657326b4039

>bitcoin went up in value that proves it can't be a bubble

Scarcity does not create gold's value in itself. It's both it's scarcity and the difficulty in faking it, and the fact that it doesn't degrade easily.

nice.

>mfw Bitcoin uses more electricity and processing power than Visa's global payment network, while also handling a fraction of the transactions

Seems like a well designed and sustainable system lads.

I thought I read in one article that for Bitcoin to do the same number of transactions in a day as other networks, it would require more energy than is currently being produced on the Earth.

The block chain is already XBOX HUEG and is only going to grow exponentially.

The funny thing is there are much better designed and more future proof cryptos out there. But they don't have the hype that Bitcoin does.

I mean invest in it and play the game if you want, more power to you. But this is pretty obviously a bubble and a pyramid scheme and anyone who thinks otherwise is blind. You need look no further than all the threads popping up on Sup Forums and other unrelated boards with anons trying to convince other anons to buy up their bitcoins to realize this.

It isn't sustainable growth, and some poor schmucks are going to be left holding the bag. Not that I don't think Bitcoin doesn't have life left in it, but it's going to have to be replaced by a different crypto eventually that can actually scale and be used efficiently globally to truly become a viable currency and payment method.

>Won't work
It's already working. I can already bypass the jew banking system. I don't encourage anyone I know to buy into high risk tech experiments unless they're interested in that.

You said a fundamental problem was the limited amount. 1 btc doesn't mean anything, it's an arbitrary amount of satoshis. Your problem applies to the limited amount of satoshis not btc and the price should give you an idea of how many are available and how long until what you're describing becomes a problem. Very long.

I know those feels. Terrible thinking about that. Was talked out of it by a friend.

Secret is to get in on a crypto when they launch.
For you and any others who have missed out but want in JSEcoin has recently launched. If you open an account, confirm email they will start you off with a deposit of 0.12 JSEcoin.
No bullshit, no gimmick, no spam, you can just sit on it and forget about it. You don't even have to purchase any. Follow the link it'll take you to their page, if you opt in you will be one of the initial investors for this crypto currency. Pretty simple really.

platform.jsecoin.com/?register=1&utm_source=referral&utm_campaign=aff26121&utm_content=