Hi Sup Forums, no-coiner here...

Hi Sup Forums, no-coiner here. I’ve seen a lot of bitcoin threads lately and I had some questions about it since I may be interested in obtaining some. Maybe you could help me:
Where does the intrinsic value of bitcoin come from?
Are bitcoins physically stored somewhere?
What happens if I lose access to electricity/internet and I need to use bitcoins?
Can bitcoins be “erased or deleted entirely”?
Can bitcoin accounts be hacked?
Can bitcoins avoid being regulated by governments in the long term?
What’s the highest value item I can obtain from bitcoins? (Not from money exchanged for bitcoins)
Why are bitcoin transactions stopped after a fall in price?
Please excuse my broken English. Thanks.

you write dates like a foreign fag. how do I know I can trust you?

Trust me on what? I'm mexican bro.

>Where does the intrinsic value of bitcoin come from?
there is no intrinsic value, except as a decentralized form of currency
>Are bitcoins physically stored somewhere?
you can store your private keys on a physical drive, but theoretically if you know the key you can retrieve them any time anywhere
>What happens if I lose access to electricity/internet and I need to use bitcoins?
then you're fucked. If you wrote down your private keys you could give those to someone as a kind of offline transaction that would get recorded into the blockchain once electricity/internet was restored
>Can bitcoins be “erased or deleted entirely”?
no. Can you lose your keys and the bitcoin be irretrievable? yes
>Can bitcoin accounts be hacked?
there are no bitcoin accounts. If you mean can someone get your key? Yes if you're not careful with it, eg someone accessing your computer. If you mean a market account then it's vulnerable as any internet account, but you shouldn't keep large amounts there anyway
>Can bitcoins avoid being regulated by governments in the long term?
Yes it will probably be taxed somehow, there is already a capital gains tax you're supposed to pay on crypto trades
>What’s the highest value item I can obtain from bitcoins? (Not from money exchanged for bitcoins)
depends who's selling. That's like asking what's the highest value item you can buy with money
>Why are bitcoin transactions stopped after a fall in price?
the blockchain is never stopped, individual merchants may have some other system in place but generally no, you agree to send someone a set amount of bitcoin and after that the deal is done.

Thanks leafbro, I still don't undersand the advantages of getting bitcoins since they seem to work only under certain circumstances, much more limited than fiat currency. Also it seems businesses are leaving it out due to its volatility, still don't understand why the price rises so quickly sometimes.

What is the best service to use for a bitcoin wallet? There are so many to choose from but I heard coinbase is terrible.

I use Coinbase to buy my Bitcoin, then transfer it onto a wallet saved on my laptop and backed up to other drives. Still fucked if electricity goes down, but more accessible than Coinbase. Coinbase is still your best bet for buying, but do so when things are not crazy and get it out of there ASAP.

BMW key, no model year no milage shown, you could be in a 3k$ car, likelihood is increased since you had all identifying marks.

"hey goy, trust us your money, not those mean je-bankers, am i rite?"

Who did you steal that car from?

>advantages
none, just buy and sell when you see fit

Is my ring and Mont Blanc wallet proof enough?

God damnit, I locked myself out of my coinbase account I just created trying to enter the two fucking dollar amount charges they charge your card. Fuck im retarded.

The advantages is that (((the banks))) don't control bitcoin, the people do. I'm not sure why the price has been rising so quickly either but I'd attribute it to a rising interest in blockchain technology by major companies and financial institutions. It's like the next new 'thing', like internet companies in early 2000's and apps in the early 2010's, the late 10's and early 20's will be blockchain

That's complete specualtion, totally not worth it.

Stop posting while you’re valeting cars, Paco.

If people controls bitcoin, doesn't that mean that the price depends on what the people wants to give you and not the inflated prices we see here?

GET OUT OF MY BEEMER, VALET-SPIC.

Exactly. Because the prices are so volatile right now, it ironically doesn't make for a good currency.

BECAUSE ITS A PONZI SCHEME. THOSE LATE TO THE GAME WILL BE LEFT HOLDING THE EMPTY BAG...

>feeing the need to justify to a group of strangers on the internet how successful you may or may not be
Got something you want to talk about?

Just a reminder that when they shut down internet there goes your money

>152300898
People takes you more seriously with timestamps. Also I like to show off a little since ameriburgers think we are dirt poor.

get monero and BAT. the Sup Forums coins.

hey retard, how about you use google and read some shit for yourself instead of asking on Sup Forums board?! fucking beaner spic

papi lo compro?

t. beaner

...

can bitcoins be turned into cash?

Don't buy bitcoins. Stay off the bonds and stock market right now, everything is overvalued. Cash isnt. I would hold cash until the market crashes and Bitcoin goes back down in price. It's he price to pay for living in a Fiat currency world.

>bitcons

Aside from the fact you can't buy anything with them, what actually makes crypto valuable? It has no character of money other than divisibility, you can never prove it exists (so much for limited supply), and you're fucked if the power goes out.

Most importantly is what will happen when blockchain becomes obsolete? All technology will eventually be replaced. What prevents this from happen to bitcons?

Another (more technical) argument against Bitcoin is that as the difficulty of mining goes exponentially up there is less and less actors that can mine at the same time. That is one of the flaws of block chain technology. The ledger can only be "public" if enough separate actors are mining. But the less miners you have the more likely someone can hold more than half of mining power. In that situation you can't trust the ledger and all bitcoins can be atolen, cause that bad actor could lie on all the ledgers he owns. The more valuable Bitcoin becomes the more likely someone will. E tempted to cheat.

The biggest lie is that everything is fixed against you. Who are always the biggest losers? People who hold cash. Buy assets. Over the course of history people with assets, not cash, are richer

So so wrong.

Here in Aus the real-estate market is starting to accept it, as well as a number of major retailers and random stalls in shopping centres.

>shows off BMW and other expensive namebrand useless shit

You're the living stereotype of a Mexican.
Niggers do the same shit with their air jordans and iphones.

I would normally agree with you, but I do believe we are in a giant bubble. I think blind investing in things like ETFs have caused a feedback loop and markets have corrections. I think we are near one. The ridiculous explosion of the Bitcoin price comes to show, people don't know what to do with their money. Once the bubble bursts, they sell sell sell, cash goes up. liquidity is King in a crash.

>Aside from the fact you can't buy anything with them
wrong
>It has no character of money other than divisibility
wrong
>you can never prove it exists
wrong
>and you're fucked if the power goes out.
wrong

>Most importantly is what will happen when blockchain becomes obsolete? All technology will eventually be replaced. What prevents this from happen to bitcons?
ignorant

10/10 good post

>Where does the intrinsic value of bitcoin come from?
there is none. apparently modern humans have accepted that money doesn't have to have intrinsic value. It's always been true for fiat, so i guess its not too big a leap
>Are bitcoins physically stored somewhere?
no
>What happens if I lose access to electricity/internet and I need to use bitcoins?
you can't. bitcoin transaction are verified by the network. No one would know if your bitcoin was real if the internet was down, so they couldn't accept them in that situation
>Can bitcoins be “erased or deleted entirely”?
No
Can bitcoin accounts be hacked?
No, except in the standard way (password is password, etc).
>Can bitcoins avoid being regulated by governments in the long term?
yes
>What’s the highest value item I can obtain from bitcoins? (Not from money exchanged for bitcoins)
I am sure someone somewhere has bought a house with bitcoin. Not going to look it up. You can buy anything from anyone that accepts bitcoin as payment.
>Why are bitcoin transactions stopped after a fall in price?
they are not