I unironically think that the US-dollar will be replaced by Bitcoin

In a few years, the whole world will be using Bitcoins rather than the US-dollar. So Bitcoins will have a market value of North of 30 trillion.

Don't forget, you heard it here first. The US is going to crash and burn because of Bitcoin.

Other urls found in this thread:

gizmodo.com/the-irs-has-come-knocking-at-bitcoins-door-1820877550
coindesk.com/bitfinex-tether-break-silence-go-media-offensive/
gizmodo
unvis.it/gizmodo.com/the-irs-has-come-knocking-at-bitcoins-door-1820877550
en.wikipedia.org/wiki/Satoshi_Nakamoto
archive.is/F1LRO
archive.is/8M5jf
blockchain.info/
finextra.com/newsarticle/30874/us-firm-to-implant-employees-with-rfid-chips
futurism.com/this-u-s-company-is-offering-to-put-microchips-in-their-employees/
theguardian.com/sport/2017/oct/10/call-for-athletes-to-be-fitted-with-microchips-fight-against-drug-cheats
twitter.com/SFWRedditGifs

> The US is going to crash and burn because of Bitcoin.

You overestimate the potential and value of something with the replaceable intrinsic value of nothing.

First pay up the tax from your mad gainz (Merica) undoubtedly Euroslow will follow suit sooner than later.

gizmodo.com/the-irs-has-come-knocking-at-bitcoins-door-1820877550

coindesk.com/bitfinex-tether-break-silence-go-media-offensive/

Please archive those

>gizmodo com/the-irs-has-come-knocking-at-bitcoins-door-1820877550
unvis.it/gizmodo.com/the-irs-has-come-knocking-at-bitcoins-door-1820877550

yes, you fucker, archive!

...

hopefully soon

tired of these fucking kikes running things and acting like they are the real shit

comparing the nominal value of derivatives to other assets makes no sense.

If I go to my bro and tell him "gimme 1 million dollars and I give you the equivalent of 1 million bitcoins tomorrow", did we just create 1 million in assets? NOPE!

Bitcoin isn't backed by any rare metal such as Gold and Silver so it will crash first and no one with them can buy nor sell anything ever before the dollar fails

Brainlets struggle with paradigm shifts. Don't worry they will get into bitcoin when its over 100k.

>Bitcoin isn't backed by any rare metal such as Gold and Silver
Neither is the US-dollar.

>so it will crash first and no one with them can buy nor sell anything ever before the dollar fails

The dollar isn't backed by the US military either, as many want to make you believe. The US dollar is backed by the fact everyone knows the US dollar, so people use it. But Bitcoin is here to stay and people can use it everywhere and it isn't paper, but can just be used by phone. So it is the future... the US dollar not so much.

I know you are trying to sound smart but you should read the white paper. Or is it too complicated for you?

explain please

2008
> Bitcoin origin
en.wikipedia.org/wiki/Satoshi_Nakamoto
Satoshi : 聡, "intelligent, clever, bright"
Nakamoto Name Meaning. Japanese: 'central origin'
> Central Intelligence

In October 2008, Nakamoto published a paper....
> The Times 3 January 2009 Chancellor on brink of second bailout for banks'.
> The public bitcoin transaction log shows that Nakamoto's known addresses contain roughly one million bitcoin. As of 28 November 2017, this is worth over $10,000,000,000

No BTC will be banned in America. Before 2020.
Numale cryptofaggots will be arrested in mass.
Their tears will sustain many for years.
Screencap this.

Half of pic related will be Bitcoins stashed away by governments all over the world in 5-7 years time.

Mark my words. Why should governments hold dollars or US treasury bills which are manipulated by the US government through the Fed, if they can hold an asset which cannot be manipulated by the US government?

Is he a handsome Jap?

>explain please
Look at pic related. The closest you will come for a real value of the global derivatives is the "gross credit exposure" so we are talking about 2 trillion or so when it comes to derivatives.

Most of derivatives are interest rate swaps - essentially instruments to swap floating to fixed rate interest rates, e.g. I got a mortgage which is 5yr fixed rate, my bank has an "asset" on their books, that reads 5yr fixed rate of 500,000 euros from me at 1.5%. But the bank might like to have floating rate exposure, so they enter into an interest rate swap with some other party on the market which hands them a 3month Euribor plus 60bps 5yr instrument with a nominal payout of 500k euros.

Did they just create a 500k asset? Nope. They just swapped the interest rate profile.

>No BTC will be banned in America. Before 2020.

I believed that once too. Not going to happen. Why? Because there will always be countries where Bitcoins are not going to be banned.

Also, it is very likely unconstitutional to ban bitcoins under the 1st amendment, as they are simply bits. You could memorize your bitcoin addresses and you cannot regulate thought and expression. What you can do is regulate the exchange of bitcoins for money or derivatives on bitcoins etc., but not bitcoins themselves.

>being able to wipe out all the money in the world with one emp
wew

Bitcoin is going to crash harder than tulips once the stock market corrects.

he pretty much explained it already. derivatives are usually futures and such. contracts for the stuff in the future - as you can imagine most sides would not make a contract where they would just give shit away.
so a contract promising x-goods (valued 1 mil) in the future by one guy and cash or other goods (valued ca 1 mil) - what value would you put that is now hold in "derivatives" 1 mil/2mil/0mil ?
What this charts shows is that people have agreed to do lots of stuff in the future amongst eachother.

wow, TIL why I'm not in finance

The us dollar will not be replaced by bitcoin because nobody wants to make daily transactions of 0.000000000000whateverthefuck, and the govt. will never give that power up.

> countries allowing their own currency to be devalued due to use of a cryptocurrency

Yeah...you'll start seeing major countries outright ban the use of cryptocurrencies when buying/selling with them. There will be trade alliances that will pop up due to this problem most likely.

I highly doubt crypto is going to take over. We'll see.

You can print out your bitcoins on a piece of paper, you do know that, right?

>Bitcoin is going to crash harder than tulips once the stock market corrects.
Wrong. Tulips were perishable goods with little use. Bitcoins are in global use with a market potential of being used by billions of people on a daily basis. Guess what, that is worth trillions.

bitcoin transfers are slow

Buy LINK faggots

>I highly doubt crypto is going to take over.
And that is why? What is the contender for a global currency? I can currently only see the US-dollar. What else? Well, the US could create its own, government controlled crypto backed by the US government. That might be a contender, but the question is why, would they do that and why would the Chinese or Japs or Europeans invest in that rather than Bitcoins given the fact that America controls that new crypto? So America would have to start a crypto that it does not control but which it backs... if that is the case, why not just keep Bitcoins around?

>bitcoin transfers are slow
There is an easy work around for that. Essentially you create a global "visa/mastercard" type system in which a company acts as an intermediary. 99% of the people who want to do legal transactions do not care about Bitcoin transactions being "anonymous" (they are not) or "without any middleman" (they are not). And most people are willing to pay 5 bucks per quarter or year for an account (or pay 0 bucks and see some ads etc.). In that system, you would create your account and put some bitcoins on there and they are verified by the system when put on there. If you want to make a purchase a day or two later, another person in the system is credited immediately by the system while your bitcoins go through the usual cycle of transfering them (10-30min). Fraud is possible by the person making the purchase, but only towards the transfer company... just like there is matercard or visa card fraud. But that fraud is typically low if you know who the person is (because he had to open an account).

Or in other words, Bitcoins will be just the "value" backing up the transfers in teh future, while the transfers themselves are just like whatsapp or facebook messages.

...

>Bitcoin is how the Zionist Kikes are going to crash the US dollar and then digitally control the Goyim forever.

They need niggers to sell their bitcoins, so they need to crash it.

Rinse and repeat until all niggers have sold.

Eww Gerabian gtfo

not sure what the point is in doing so, doubt it'll be removed or changed ...

archive.is/F1LRO
archive.is/8M5jf

but the u. s. dollar is backed up by the authority of the u. s. gov. who is backing bitcoon

Take your usd notes and go back in time to paleothic era and see what they will buy

Based

nah wont be bitcoin
but banks been working on their own blockchain currencies for years, even with Vitalik

Didn't someone calculate that energy consumption would end up being tied up in btc mining to the point of absurdity? Now that the jewish media is shilling it... well, that should be evidence for any thinking man to do the exact opposite. I've found that I've had more look believing the exact opposite of what these folks say every fucking time.

And how exactly do you propose to get every country behind using a global currency versus having multiple reserve currencies that allows everyone to hedge their bets with multiple eggs in baskets rather than all sitting in one? You realize we aren't entirely allies with China. We're growing apart from our European allies and we've sort of pissed off our Asian allies by stepping away from TPP (think what you want, but military isn't going to stop China from trading with Asian countries). You're just spreading hysterics with your own made up hypothetical that everyone in the world will just magically say, "fuck my own currency, I want a global one that either no one manipulates or some country owns." This is how stupid you are. Using a hypothetical to prove your own point. We'll see a major war before any type of global currency is created/adopted (definitely more probable to be created along the same thinking of 'the victors write history').

>Take your usd notes and go back in time to paleothic era and see what they will buy
Who knows? Might have been like bitcoin back then. A rare thing that is worth a shitton because of the cool pictures on the notes.

Strange you say this because I just bought some bitcoin literally last night and my bank fucking refused the purchase.

The fuck?

Every country has a basket of assets as reserves. The US dollar is so dominant because of oil and global trade being conducted in US dollars. Once this switches to an appreciated currency like Bitcoin, why not diversify your reserves with cryptos?

I understand China has already got 10 billion or more in cryptos as reserves and is trying to increase this to 50 billion.

And just like all economic warfare, if your enemy is stocking up on something, either affect the valuation of said commodity or outright ban the use of it in trades. Again, my point being it won't happen until we see unilateral peace agreements from all parties, big and small. No, your hypothetical ain't going to work, Kraut. We'll have a major world war before anything like you're describing happens and we'll most likely see a new currency developed that favors the victors unless the losers were beaten out of existence.

Stop peddling hysterics for (You)'s.

Because, creating another false currency wont save the structural issues facing global finance. It is in fact what created them in the first place. Inflated asset prices combined with suppressed wages and global debt have already sealed the fate of the world. Coin was created as a part of a multi-pronged hail marry some time ago and its (basis) has for some time been completely out of control.

It's the nail that meets the coffin

Okay listen retard. The U.S. isn't just going to have a fucking currency that isn't backed by anything and only has value based on how many fucking people have one. That's goddamned retarded. Bitcoin is a ponzi scheme and will be outlawed.

Truth

The US Dollar is backed up by US lead; the most powerful metal in the world.

>relying on computers for money
Nah. It's the same reason I don't want "smart guns".

>The U.S. isn't just going to have a fucking currency that isn't backed by anything and only has value based on how many fucking people have one.

.... I don't know if this is good bait, ironic, or just American retardation. Please explain. You do understand this is exactly what the US dollar is, right?

I tried to buy some months ago and my bank flagged my card for possible fraud and made me get a new one. Haven't tried again since.

kek

So you retards understand you've just been guinea pigs this whole time for a Mark of the Beast system, right?

It's backed up by the amount of USD circulated elsewhere in the world rather than being on mainland US soil, dumb fuck. If all the USD in the world being held to trade on the international market were to come home due to some large-scale group decision to distrust the US and its economy, we'll see real tangible affects of inflation. Now, I don't see that happening any time soon, but we now have a contender: China. Through the AIIB, they're creating their own Asian IMF and European allies are seeing the benefits of such a secondary choice. Give it 30 years. Maybe we'll see a shift in percentage of all currencies being held globally. Either way, the USD is not backed by anything other than other countries keeping the debt slips off our land and away from our local economy.

Normal people are never gonna use bitcoin
You niggers have paid real money for video game currency.
Go buy your drugs from the deepweb because that is all bitcoin is good for.

nah,im pretty sure that its gonna crash becasuse of feminism

But why? So bitcoins will be the reserve as a dead currency and everyone will transact in ripple? Is this how people are getting out of their thoughts that bitcoin has lost utility, or is this the shill tactic until the whales sell their bags. Everyone just HODL am i rite?

>N-n-normal people are never gonna use bitcoin
ok? in a world of seven billion thats a few billion abnormals

instead of the govt magicking up a bailout when a credit card company needs it they would be forced to live and die in a real market

>So bitcoins will be the reserve as a dead currency and everyone will transact in ripple?

What I believe is that the global transfer system will just use all major cryptos as a backup blend.

Think about it as a Facebook for transactions. You create an account, you put some crypto on it, be it Bitcoin or Ripple or Ethereum or whatever. You can then make a transaction immediately to anyone. Say someone wants Ripple but you only have Bitcoins, no problem, the system handles that in the background.

This also manages to "unify" the most common cryptos (or even all cryptos with any value) into a global payment system.

The largest amount of coin is unbacked and the second largest amount belong in the hands of banks already. Once the financial institutions realize the first part they'll stop honoring coin for cash and try to shove it off to china.

in any case, crypto only has value by negligence at the moment. It'll hit rock bottom when banks realize most coin has been lost equivalent to frozen assets.

I wonder how many millions of bitcoins will never be recovered after the silk road got shut down.

Kind of this Best way to sell the Globalist idea to right wingers is to say it’s free enterprise.
I think more or less that Bitcoin is majority owned by the Rich and wealthy anyway. They’ll get everyone on board make it sky rocket. Trade into the actual crypto currency that will be used and controlled by central banking system and the avg Bitcoin guy will watch it fall as fast as it all came. I give it still another 2-5 years before it’s traded into the new currency however so it’s just a timing thing. Find a way to trade it for actual value before they crash it. You still got time to milk it tho.

Go to the grocery and by food with bitcoin m8 oh you can't
Can you go get a beer at the bar? Nope.
How about see a movie? Not gonna happen.
How about selling it at the exchange rate? Lol can't do it can you?

Doubts US idiocy... I thought we had faith in German education?

Bitcoins do not have military backing. Without that, they are a huge uncertainty. What's to stop exchanges from simply doing what happened recently and pretending they were hacking, and then offloading all the cryptocoins. What's there to stop them from doing it? The anonymity certainly doesn't help. You won't even know who robbed you.

Bitcoin, if it now were to dip below a certain level of value would suffer a chain death.

Cryptocurrencies are a decryption service bot-net. You willingly allow your computer's GPU to run complex math equations and the victor in the race to solve it is rewarded with a "Bitcoin" or other. It's a tool to flatten/widen the computing power of solving encryption without having to purchase the hardware and energy (((themselves))). Nothing more.

Blockchain tech needs to mature before any sort of major adoption. I don't want a full ledger what I buy on display, even if it is anonymous.

> have no rebuttal to my questions
> I'll just continue shilling my asinine hypothetical to confuse newfags and retards

Just stop.

How secure is bitcoin from hacking?

Not just individuals or small groups, but what about cyber warfare? The bigger it gets the more states and terrorists will be interested in fucking it up.

Also what about actual war, or natural disasters? What happens if the networks or even user devices in a city are knocked out?

It has the jews scared, I'm not a fan of it, but if the kikes don't like it, I may change my mind.

>A Nobel Prize-winning economist has called for Bitcoin to be "outlawed"

Joseph Stiglitz said that he favours making the digital currency illegal because it does not have a “socially useful function”.

“Bitcoin is successful only because of its potential for circumvention, lack of oversight,” the renowned economist said.


READ MORE
Bitcoin - live updates: Bubble fears increase as value soars
The comments by Mr Stiglitz come amid a volatile day for the digital currency, with it having dropped from a record value of more than $11,000, to around $9,300 in 24 hours of trading.

The virtual currency is the subject of a fierce debate over whether it is gaining mainstream acceptance - having risen in value tenfold this year - or is just a bubble waiting to burst.

>Joseph Stiglitz
I saw this story today, he even looks like proto-jew

thanks for todays first laugh OP, the us stock market is booming and if you want tangible asset invest ffs do not buy these fucking e-shekels

The stock market is a sham too. Oh yeah, everyone is just going swimmingly right now. Wait for Trump to get the Hoover treatment.

What if the power goes out?

*everything is

>You overestimate the potential and value of something
There is no value in fiat. Gold standard has gone.

>with the replaceable intrinsic value of nothing.
Decentralised. Deflationary. Finite quantity.

There you go.

Fun fact: your graph is out of date.

The total market cap of bitcoin is now $169 billion
blockchain.info/

I'm real excited to take that derivatives course in my 3rd year

>I'm going to buy bitcoins because I'd like to use it as a payment method for ordering pizza!

Said nobody ever. It's a speculation, not a currency.

>the whole world will be using Bitcoin
>Bitcoin becomes the one world currency
>all planned by the NWO from the very beginning

jogs muh noggin

Take this wannabe shit to /biz

Funnily enough, you're wrong. People said exactly that back in 2010-2011. Someone bought a pizza with bitcoin. That pizza was worth over $10 million by today's standards.

And who is the one doing the majority of speculating is the real question. No way faggot hobbyists are the ones pushing the price higher and higher per fucking day upwards of hundreds of dollars. Someone with a vast quantity of capital is manipulating the price. I don't see any other explanation.

>getting into speculation before understanding financial markets
wew sounds like a good plan, better sell your house
ITS NOT LIKE THIS CRYPTO THING IS THE FIRST THING EVER, AND NO THIS TIME WONT BE DIFFERENT

That's exactly what I mean. A currency that fluctuates that much is extremely inefficient.

Also, even though it's possible to pay with btc in a lot of places, everybody only buys bitcoin to make money doing nothing. Nobody intends to use it as a currency.

The whole (ostensible) reason people turned to fiat currencies is that you can print money as it's needed to balance the amount of new value being produced in the form of goods or whatever. Bitcoin is like gold, that is you have to mine it, and like gold it gets harder and harder to mine new stuff as more and more of it is released into the market. The economy grows faster and faster with technological progress, but the rate of mining new gold (bitcoin) is held back by the fact that there's less of it remaining in the ground (the remaining hashes are harder to solve or whatever). If the rate at which bitcoin is mined matched the rate at which productivity rose it would have been perfect, but it's either lagging behind because the computational power is not being added proportionally to the overall growth, or it's rushing ahead because the computational power gets cheaper faster than anything else in the economy. The same reasons why gold is not going to replace USD (either political or economical) apply equally to bitcoin.

I'm not sure, but my guess is the same people that buy in to every other 'get rich quick' scheme. Shady investors.

Also criminals.

But don't underestimate the purchasing power of everybody that hopes to make a quick buck, either.

>So Bitcoins will have a market value of North of 30 trillion
That assumes that the US dollar has a value of 30 trillion, it does not.

(((THEIR))) ENDGAME IS A CASHLESS SOCIETY.

BITCOIN IS (((THEIR))) IDEAL SYSTEM

The current system will crash and burn BY DESIGN and be replaced by a cashless crypto system. You are not "becoming your own central bank" or avoiding the currency system with crypos - you are being exploited by greed to VOLUNTARILY exchange paper fiat for digital fiat because its better to have people voluntarily do it rather than by force, but they will enforce it eventually.

Cash to plastic to Chip & Pin to apple pay to rfid implant. That's the mark that banks and jews want.
BTC is not this.

>guys these digital tulips are real money!

this
money belly is going to change the world

>thinking the us dollar will get replaced by bitcoin
1 bitcoin raises in value constantly, you dollar can become 3 dollars in mere minutes these days its literally unstable, prices could not be calculated for things unless venders wanted to be really complicated
2 bitcoin isnt backed by squat its literally just a crypto currency that can lose all of its value with a simple emp or ban country wide ban you aswell which i see coming soon

in simple terms it cant and it wont, i see a world currency working easier then shitcoin.

So rfid couldn't be tied to BTC? Like said, you're helping them push the cashless society meme that will preempt a mark.

the us dollar currently and, in fact has always held the same value. 1

But how much does 1 buy you?

In 1950 it would buy you four gallons of gas. Or a pound of coffee.

I believe BTC will become the sole curreny left for us to buy and sell with and those who accept it MUST eventually get the mark of the beast to use it. Although at first it will be marketed as "saving" the economy from the inevitable collapse coming.

It all fits perfectly to bible (and other) prophecy

finextra.com/newsarticle/30874/us-firm-to-implant-employees-with-rfid-chips

futurism.com/this-u-s-company-is-offering-to-put-microchips-in-their-employees/

theguardian.com/sport/2017/oct/10/call-for-athletes-to-be-fitted-with-microchips-fight-against-drug-cheats