The Day of the bubble

When the Bitcoin bubble bursts /biz/ and all of the coinfags would collectively go on suicide watch. It has no real monetary value, when the bubble bursts people would be wiping their asses with bitcoins. Oh wait! They would not even be able to do that

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archive.4plebs.org/pol/thread/151484372/
youtube.com/watch?list=PL9vHYAAyP0mn9Zub2N6qmx5vqYghxODIU&time_continue=227&v=sd8kFLuGn34
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So tell me:
What backs the Dollar?
The dollar is basically a measure of a guarantee. That's it. It doesn't mean anything and has no intrinsic value. It's only backed by empty promises and supported by 20 trillion in debt.
So what's the difference?

320m people are forced to use it everyday, I cannot go to a shop and buy stuff with bitcoins

It's a capital flight barometer. There is a major capital flight out of China. Until that ends, bitcoins will keep going up. The absolute level doesn't matter while there is an influx of new buyers. It ends when China capital flight ends. Then bitcoins will absolutely collapse. But until then there is no limit to high high this can go. But the moment China goes crisis mode, the BTC will spike and that's the end of this rally.

>btc is a bubble
>says the increasingly nervous nocoiner for the twelfth time this year

You'll still be here bitching when you're trading dollars for sats.

the jews dont have control over BC
so naturally it wont fly for long

At the beginning of the year, bitcoin was only 1000 bucks. It could crash thousands of dollars down, and people who invested on the initial uptick would still make out like thieves.

>bitcoin is not a bubble
>says the increasingly nervous coinfag for the twentieth time this year.

Why should I be worried, I've no horse in this race.

False, it was sub 800. I bought in september of last year on my 18th birthday. It's changed my life.

So where are all these people that have cashed out and made big money? When the time is right to sell, i.e they're worth loads, who in their right mind would buy them?

Their value goes up but the only time people want them for actual cash is when they are low. You can't use them as a raw material or resource like gold either.

You're relying on a jump ship moment which relies on people wanting to get onboard.

You're fucked.

I'd cash in now, the kerfuffle that happened last week could end worse next time.

I only found out about the bitcoin price increases until after I graduated in may. By then the price was getting up there and I was apprehensive of a crash. I should've invested more than I did, but I'm glad I put a decent chunk of change in at all.

I'm also kicking myself for not investing in BTC back in like 2012 when I first learned about it. I was even going to do some mining when I built my new computer at the time, but I couldn't get the program set up properly at first and I just said "eh, fuck it" and left it at that. What a fucking fool I was.

Dollar is backed by the DOW and petrodollar. It is worth something because companies with billions worth of tangible assets think it's a great currency to use and invest in.

Nobody can say the same thing about memecoins, except for online pedos and drug dealers who are basically the currency's only backers and half of them are probably larping scam artists anyway.

This is what everyone started really believing at $2700...

>be a nocoiner
>NEVER learn

The US military backs the dollar you idiot. Meanwhile bitcoins are backed by some hacker in his parents basement.

Why do anti coiners always show up when the value is rising? Is it (((tricks))) or damage control? When the price is low and stable, theyre nowhere to be found

>implying we won’t always have drug dealers, prostitutes, and pedos
It’s an unlimited resource

Nobody is gonna invest 3k to get a single memecoin, it's just fucking retarded. Sensible investors dont only look for whatever currency/commodity is rising in value, they also look at how easy they are to sell as well. And when they notice it's borderline impossible to get rid off since there arent enough retards buying them, they simply kek irl and move on to the next thing. Only autists believe they'll get rich eventually by hoarding and mining new coins. No one fucking wants them.

>3k
It's 10k now

>When the time is right to sell, i.e they're worth loads, who in their right mind would buy them?

Next time, just say "I have no fucking clue how supply and demand works"

You can buy fractions or LTC, which is about 100$

Sure but hardly my point. Even CP traffickers, prozzies and dealers prefer the old US dollar to the memecoins because they can easily be used and spent. Memecoins are just unpractical as fuck and completely unstable in value. Nobody wants to be stuck with a currency they cant use.

>What backs the Dollar?
just the most powerful nation state on the planet

>10k
wew fucking wew

You just sell it back for USD. There's thousands of transactions a day.

To laugh at you

The buyers are not investors. It's a money laundering out of places where you can't get the money out of. It's nit a currency and the people driving the price up are not investors. There are some stupid speculators, but the main point of BTC is to move the money between jurisdictions. Now there is a jurisdiction that has to move a shit load of money out. It means shit is about to hit the fan somewhere. It's pretty obvious. It's like a banking transfer that's secure and anonymous and can be done between any two places in the world. It would surprise me if the capital flight out of US doesn't end this. But while it's China, the price will go up until China breaks. It's a stampede, not a speculation.

Why do you shills always use that exact same pepe? I don't get it, if you want to trick people here, at least try to be a little tricky. The fed and its owners are our enemies.

Aaaand 11k

Have fun holding those Israel approved goy bucks, gentile. I made more money than your parents' annual salary with my bitcoin in a month

I ask the same question

And bitcoin doesn't need backing in the traditional sense because of it's decentralized nature. It's intrinsic value is in the fact that it is unable to be controlled by any central force. Not even the guy who first made it.

It's creating a whole new class of people who generate wealth entirely through assets.

Why would they do it? They want bigger chunks per transaction. It's like then gangsters were buying Euros because Euros had 500 denomination notes. You are applying some sort of a free market principles to the thing that exists solely because the markets are not free. It's a completely different analysis and goals. This thing will get to $50K unless China collapses soon, because $50K is annual amount you can move out of China. They will do their annual quota in 1BTC transaction. It can go higher too. The higher denomination the more money could be moved at once.

is it too late to buy iota?

So there aren't any brakes until people stop using it.

No they like the coins because it’s hard to track. They can convert them back to normiebux when needed

Bitcoin is absolutely a pyramid/a bubble, and I've already pulled out, cus you can't be confident enough it'll keep up and not go down at any point atm.

The same one who faced all the great global economic collapses? I'm really confident on the dollar now.

I come to pol to read the dumb shit that poor retards like you spew out. Seeing no coiners cope with their monumental mistake of not throwing everything they had at btc while they could, priceless.

Yup, exactly. Now you understand why people are saying stuff like "bitcoin will be worth 1 million by 2023" and stuff like that.

Honestly I don't know if bitcoin itself will continue it's overall exponential growth that is has since day 1, but I do know that cryptos as a concept are here to stay. It's just too superior compared to gov't-backed fiat.

There's nothing shady about a currency that derives its value from secretive and arcane mathematical puzzles farmed from millions of computers for a purpose not fully revealed. Recently, a real live hooknose tried to get me to buy some bitcoins and when I told him three times that even if I wanted to I couldn't, he still wouldn't shut up. Jews literally do not understand that some people are broke, but since they've never, ever been broke, in their minds, unless you're a bix nooder, you've somehow got lots of cash to waste.

Stop giving advice to people who are smarter than you

>im laughing at you from lamboland
Sure you are, faggot

Same old story heard a thousand times before

>I came so close
No you didn't

I don't fucking understand crypto currency. The whole wallet thing and even how to buy them is so goddamn autistic and confusing.

You guys need new people for your pyramid scheme, you should really start by simplifying the process of onboarding.

>I don't fucking understand crypto currency

That was all you had to say dumb cunt
You're a mong

>arcane mathematical puzzles
Just because you don't understand it doesn't mean it's bad.

Yeah crypto will definitely evolve and stick around, but that doesnt mean btc is the crypto currency that will succeed/spread to the mainstream. The model clearly still needs some refining.

>/biz and /pol are collectively merging

These memes are gonna be great for the next few years

>smarter than me
>coinfag

that is where you're wrong, kiddo

Yeah, for sure. BTC has first mover advantage and name recognition, but it's still yet to be seen whether it'll remain the dominant crypto on the long term.

But the thing is, it's so easy to transfer cryptos that if BTC starts tanking and a true dark horse competitor comes out of the pack, we can always just switch over to that and keep on trucking.

/biz/ and Sup Forums are effectively in symbiosis at this point and have been for at least a year now. /biz/ probably has more happy merchants being posted than Sup Forums does on a per capital basis at this point.

Similar to how Sup Forums is Sup Forums with media, because it's become impossible to talk about media nowadays without noticing all the jewy bullshit.

HAHAHAHAHAHAHAHA OH FUCK I fucking WISH it was still 3k so I could sell all my shit for more. t. literally bought 21 btc for 100k I'm living a meme

I mined bit coins back like 7-8 years ago. I think I mined like 1500 or 2000 of them when it was really easy to do. not sure what i did with the wallet thing where the coins go. dont really care because im comfortable enough financially, just thought it was an interesting story. thanks for reading my blog.

>dont know what I did with 220,000$ worth of coins. Don’t care
Must be nice

It's like 4 months salary here. It's not that big of a loss.

>2.2 million

more like $20,000,000

Sorry. American education

bitcoin in a nutshell

>scam exchanges, which many have been seized by the FBI, that all go down at the same time..
>97% of the wallet have less than 1 btc
>80%+ of bitcoins are traded by high speed bots
>1 or 2 whales can contol the price.
>the volatility makes it worthless as a currency
>your money can be lost forever. if someone hacks you and steals you key, or you lose your key. you are fucked.
>0% interest

>0% interest
This is to me, the only redeeming quality of bitcoins.

Interest is the heart and soul of jewery and should be punishable with instant brutal death

>mined bit coins back like 7-8 years ago
>not sure what i did with the wallet thing

this is the majority
and this is why every altcoin is trash because the creators of new coins mine all the easy coins and sell them, like an IPO.

Dude how long you been following the price? Just buy some.

So says the mountain jew with negative-interest banks.

If you wanted to. Could you, right now, sell all 26 of those coins for real tangible FIAT money within 2 hours?
I fail to see your point. I don't personally regulate the Swiss banking industry you 56% royal family cunt.

coiners confirmed retards

Yes, on Gemini. They wire fiat to my account

That was before 1999 baby, your knowledge probably needs a lot of updates when you're this behind.

So right now if you wanted. Within 2 hours you could increase your personal real bank account by 300,000 US dollars without any problems whatsoever or hangups.

...

>Interest is the heart and soul of jewery and should be punishable with instant brutal death
being able to plop down 100k ( blue chips ) on the stock market and get 10% or more returns and having access to your money instantly, is what makes the world go round.
trying to get rich quick with bitcoin is just a gamble, a gamble that it will go up in the future, with nothing else to gain from it. stocks dont need to go up for you to make money.

Where'd you go dude, no response to my trips with proof of my lambo???

>proof of my lambo
picture with timestamp or you are just a larper

YES YOU FUCKING SNOW RETARD. just buy already, I won't cash out until I'm in a country without capital gains tax otherwise I can kiss 100k of that 300k goodbye. Also, btc won't reach its price potential till it reaches 200 trillion market cap, 10 million per btc.

I believe user. Show them how easy it is to spend them ;)
16EKYSSasP9jrBpFUaN7fwC8yd8oBZZzfE

Biz has absolutely no merchants, just a bunch of faggots, niggers, and Mexicans. I'm a greet shitter and I have more crypto than most meets on that board

i'll believe when they show proof with a written timestamp right now

I have yet to see one person on here or biz show " proof of my lambo " with current timestamp.

>implying fiat has real monetary value

same with bitcoin, both crypto and fiat are completely useless, except you could start a fire with fiat if lost in the woods

lmao
Is this you?
archive.4plebs.org/pol/thread/151484372/
You know if you just listened to me shilling Walton you would've made 2x which is better than what jew investors make in a year

11.7K now

people really don't get it. it's gonna get even larger, to the tune of 10x+

ITT: Norks and Chinks using proxies

>>implying fiat has real monetary value
then why can you buy bitcoins with it?

youtube.com/watch?list=PL9vHYAAyP0mn9Zub2N6qmx5vqYghxODIU&time_continue=227&v=sd8kFLuGn34

Petrol is only traded in USD.

Lol I don't owe you fucking plebs anything. It's locked up in my trezor, you don't gotta believe me, but believe in btc. Or stay poor. Either way, make more white babies so I can fuck your daughters in my super cars

Full bitcoinization hasn't happened yet. But it will.

>Make an account on coinbase
>Buy Bitcoin
>Send bitcoin to wallet address
Damn..... I only had to hack 6 mainframes with my femtocubes to do it......

>It has no real monetary value
Bitcoin absolutely has value. That's not the problem.
The problem is people aren't buying for the value and haven't been doing that for a while now. They buy because they expect the price to go up. But the value of a Bitcoin isn't tied to anything real other than speculative demand, so you're just relying on being able to find somebody willing to pay more than you did in the future.
i.e. a bubble.

The US of fuckin A, Cletus.

...

underrated

>Petrol is only traded in USD
Because we have a tendency of "liberating" anyone who tries to trade it for anything else...

Hey pussy, real rich niggas don't gotta worry about fags like you not believing us. And why would I larp with such a miniscule amount?? I'd go full larp with 100+btc

doesn't answer the question
if fiat has no real monetary value, then why is bitcoin bought and sold with it.
oh, that right because FIAT GIVE BITCOIN ITS VALUE

>just buy already
No thanks. The ROI for your coin is lower than my trading ROI. And my trading has a 0% chance of being hacked by some 11 year old who guessed that the admin password of some meme exchange was "pass01".

Bitcoin larpers
HAHAHAH

not if you're paid in bitcoin, which many people are in places like India.

it's a currency like any other.