BTC

One day, very soon, all these 15-25 year olds who are putting their spare money into Bitcoin are going to wake up and ask:

Why am I paying $15K for one unit of internet monopoly money?

Right now the only reason people are buying bitcoin is because of the classic Bigger Fool theory:

en.wikipedia.org/wiki/Greater_fool_theory

But at some point you run out of bigger fools.

It has no utility as an asset. It has no utility as a store of value, no currency whose value fluctuates by more than 5% on the daily is going to be useful to any serious business to do any serious volume with.

Other urls found in this thread:

dailymotion.com/video/x58l6i4
twitter.com/NSFWRedditVideo

The only fool here is you.

People are using it as a store of value right now

yup

why didnt i buy silver instead

keep coping newfriend

>Implying distributed ledger blockchain technology is not getting third party trust (central banks) out of the picture
>Implying a currency whose value can change is not viable

sorta like how banks print more money and lower the value of currency???

It literally has a niche already and tons of online shops take Bitcoin.

Maybe you're just made because you arent smart enough to make money off it..

Is bitcoin dead again?
Its been declared dead a couple times now...
It just needs more infrastructure. Check out mining. Smooth it up.

>no currency whose value fluctuates by more than 5% on the daily is going to be useful to any serious business to do any serious volume with
this is how i know you are an uninformed nocoiner who is trying to cope

None of that ever stopped gold. Gold is proof that stupidity can last for centuries.

Enlighten me.

Its different this time, right?

Are you fuggin blind or just willfully ignoring my previous post which gives some concrete reasons as to why you're just a buttmad baby

We don't need to prove anything to you. The best evidence is to just keep watching and see for yourself. Bitcoin $1,000,000 by 2020.

>BTC goes to 14 to 17k in 6 hours
>BTC falls to 15k in 6 more hours

Response: OMG BTC CRASHING!

Reality: BTC up 1k in 12 hours.

15 to 25 year olds should be the riskiest of all investors. They have more time to recover potential losses. Also, that is for one week. Zoom out to a month or the past year.

How do you know yesterday wasn't the bull trap?

The big (((banks))) are the ones who are are pumping and dumping bitcoin right now. Once future market comes out they will buy shorts and sell their huge holdings. This will trigger a panic sell off and more shorts.

Yes you bitcoin morons. Those big banks you hate so much at the reason bitcoin is rising in price. And they're about to profit off all your delusional investments.

Bitcoin couldn't even handle the trading yesterday. Replacing the banking system my ass. It has no use as a store of value. Gold at least is physical and has real uses, and you can't make a gold 2.0. There's 100s of crypto coins though. Why is bitcoin the best store or value? No reason for it. Price will drop.

If you were presented the option of receiving 200 bricks of gold or the equivalent value in btc, what would you choose?

And no you don't have to zoom out more you fucking idiots when there's this much volatility. It's a classic bubble. And the new banks are about to pop it and murder all you delusional people still holding.

fpbp

It's also shittily slow, with no market oversight, no consumer protection on fraud, no protection for the merchant, all transactions are final, and your wallet can get hacked pretty easily even if you pay for protection.

I love how the retards praising this coin also ignore this.

Gold is a physical thing you drunk potato eating leprechaun. I could snort gold flakes or use gold for electronics. Stupid Irish.

>Not smart enough to install an app

Oy vey you're a genius!

>use bitcoin profits to buy more bitcoin.
>muh bits have doubled muh bits have doubled

Neither does cash yo. Or gold (well gold has some uses, not indicative of its value though). Or diamonds.

Things have always been worth what people say they are worth. Economies are based on this principle.

You are an idiot.

That doesn't mean there isn't a giant bitcoin bubble right now.

bitcoin is cia niggers keeping people away from gold... most people are greedy and stupid, so when they make it look good, like you'll get rich; its a trap.... look what they pumping... baby boomers = stocks and real estate, young douche = bitcoin, crypto.... truth is, america is over; smart people are buying gold and getting out. this is all planned.

Gold is also valuable because it's pretty and has 5000 years of history. Even then it's not that valuable but it's decent to plop money into.

Bitcoin is extremely overpriced and volatile so it's a shitty store of value.

>Why am I paying Monopoly money for one unit of internet monopoly money?
Oh, Canada

Idiots think they're market analysts because they've seen the market cycle chart.

Try again at 20K faggot.

>I am so happy, I will check how much money I made from nothing today

>Memecoin: -$7

>FUG

Most of them are hoping it goes up. of course they will hold onto it to make more profits

The last people to challenge the us dollar were gadaffi and saddam.

The dollar is backed by a whole lot of killing machines. It's not going away. The jews are just going to short bitcoin and crash it, you all are just retards for the slaughter.

btc

>It literally has a niche already and tons of online shops take Bitcoin.

list 3

Gaben just banned it...

>The jews are just going to short bitcoin and crash it, you all are just retards for the slaughter.
I dont even care. There is money to be made in the meantime. I have no emotional attachment to the bitcoin i have. got in at 3,400 Already sold half at 10k, kind of regret it but I wanted to lock in my returns.
Im going to ride this ponzi scheme just a little longer then im going to cash out and hope it doesnt actually go up to 500k in 2 years.

Sure you can. Then short it on the way down. I'm also thinking about getting into etherium.

tfw actual cryptocurrency exchange owner and even I'm sick of BTC threads on Sup Forums

gb2/biz/ you dick

Drugs.

Hell even the major markets are moving over to a more stable currency. Drug dealers enjoy having the classic USD to spend, so being unable to make fast exchanges is a real turn off.

Eh, only put in $100 for shits and giggles. Sell high, buy low, and get more bitcoin that way. I've yet to contribute an extra cent of money.

gold obviously
>muh btc to $1,000,000 by 2020
Nigger you're an idiot but stick with this for 20 seconds. Let's say your absolute best hypothetical in your head came true, who would pay you $1,000,000 for a fake internet coin? How would you cash that out exactly? Coinbase won't even process $100,000.00 cashouts. Are you assuming it will be more widely accepted by retailers? 90% of the retailers that did step up and try to accept it have dropped out. Steam was probably the biggest in the past year but there have been several others. So, as OP said, you're basically sitting around waiting for the bigger fool. Technology-wise, btc is the equivalent of people trading seashells vs. actual gold when compared to other coins. But i'd be interested to hear your answer.
>best evidence is to wait until 2020
So concede you have no actual evidence that exists today in our time to support your position? You want people to wait 3 years on a presumption not based in reality?

If you crash a fake market, you get real results without fucking up the real markets.

The question is what country is getting crashed on?

The only people that win are those who had money in bitcoin to begin with. They should be withdrawing and spending as much as they can before the crash, then reinvest after. The people atm who are dumping money into the get rich quick scheme are going to lose and lose bad.

>I slipped through
>I slipped through

>hmm wait does that mean I can always evade consequences?
>caught

Are there any real retailers that take bitcoin now or is Newegg the last?

You're right that no one would buy for a $1,000,000. They'll just buy satoshis instead.

Buy ethereum to save your value.

...

No. They're buying because everyone else does it and they expect it to go up.

last I checked, JMBullion was accepting btc.

Bitcoin will fail and this time it won't recover. It will forever remain a reason not to buy crypto. As is the Jews plan

Great, we have two legitimate retailers who take bitcoin.

so other than other raw materials like diamond and silver, is there anything that has survived the hype?

why not just leave a small share in for the eventuality of 500k? don't need to do extremes

yes, lets ignore the record breaking, historical volatility

dailymotion.com/video/x58l6i4

Ohh look a lead thats fucking stupid, you never see that around. Crazy.

What you're showing there is part of bitcoin's natural cycle - pic related.
Also, from my experience on /biz/, most people don't actually give a fuck about bitcoin specifically. It's just another thing to trade and make money on, so the volatility is actually a great thing.

Exactly. Stupidity knows no limits. Bitcoin will remain a valuable commodity. Just like gold despite being almost entirely useless and completely overvalued based on speculation.

/biz/ are a bunch of tards who use the shitcoin market to play pretend as day trader

this lol

gaming a bunch of neets is low form

They are making money though so let them pretend all they want.

Bitcoin, like gold, will be used as an useful hedge against fiat/bonds in rough times.

Gold is not based in speculation, this doesnt even make sense, gold is a commonly agreed valuable commodity, capable of storing value regardless of credit fluctuations. Bitcoin, because of its inherent properties can occupy the same niche.

Currently though, Bitcoin is just being treated as a speculative asset, being extremely overpriced and being fueled by irrational exhuberance.

>b-b-bitcoin is d-dead
said the increasingly impoverished leaf for the thousandth time

Religion. Totally speculatory and a hold over from centuries ago.

>Oh well im sure its worth something because retards from thousands of years ago were super hype on it!

They're buying it to make money and cash out. Pure speculating. How do you keep value in something that has none? Lol.

I’ve only put $80 into it. Are there retards that are putting in thousands now?

by what I see in /biz/ threads, most of them would've been better just parking their money on BTC and ETH and just manage gains with this bubble.

Regardless, most of what they're doing with shitcoins is gambling. Pure and simple.

Respected people say golds value is mostly speculation. It has no use beyond niche electronics. Its value should be much lower but people think its worth more.

Same for bitcoin and blockchain. It has some niche applications but right now its hot.

so if everyone holds on to it, how would the price tank?

You are the same faggot who posted
>Why am I paying $1K for one unit of internet monopoly money?
>Why am I paying $2K for one unit of internet monopoly money?
>Why am I paying $3K for one unit of internet monopoly money?
>Why am I paying $4K for one unit of internet monopoly money?
>Why am I paying $5K for one unit of internet monopoly money?
>Why am I paying $6K for one unit of internet monopoly money?
>Why am I paying $7K for one unit of internet monopoly money?
>Why am I paying $8K for one unit of internet monopoly money?
>Why am I paying $9K for one unit of internet monopoly money?
>Why am I paying $10K for one unit of internet monopoly money?
>Why am I paying $11K for one unit of internet monopoly money?
>Why am I paying $12K for one unit of internet monopoly money?
>Why am I paying $13K for one unit of internet monopoly money?
>Why am I paying $14K for one unit of internet monopoly money?
Admit it, you blew your once-in-a-lifetime chance to make millions. Sucks to be you.

>1 week

>Respected people say golds value is mostly speculation

link? I'm actually interested because I do find that the value of gold is inflated and its good ammo against ancaps and libertardians.

Gold is literally one of the most useful metals pulled from the Earth. Stop spouting such complete fucking nonsense. It is one of the best conductors of electricity ( behind silver and copper) and doesn't tarnish (like silver and copper).

here is mine theory of bitcoin:

people wonder what bitcoin's real value is besides crime... what if it's just gambling? and the endless appeal to the human desire for money? there are constant technological improvements in being able to exchange it for currency... but almost no progress in being able to exchange it for goods... because who the fuck wants to do that?

it's like an eternal paper trading game with real money that will go on forever and never be predictable or conform to any pattern, because it has no economic characteristics.

>don't try to tell me everyone is going to start using it to buy shit because they're not
>it's literally gambling

that doesn't mean it's not going to go up in value for a long time though. it means... it's *totally* unpredictable.

So explain the logic you are going to use to decide when sell it all and turn it into wealth instead of bitcoin.
That is the intelligent part. Buying and sitting on something in a bubble is what every retard does.

What is your signal to get out of it?

>t. Chinese bitcoin miner

Financial times had a piece on it less than a week ago. No I am not going to the effort to find it.
You know nothing but like every american, you have an opinion and arnt afraid to voice it. Subhuman.

yes, you've just described a speculative bubble

Gee golly mister, you really think that Goldman Sachs would pump up a bubble and leave everyone else holding the bag? Say it ain't so!

t. hodler

Once all 23 million are owned then it will stabilize

>babies first economics
Good luck cashing any of that out.
See the tech bubble back in early 2000.

You're a bitter idiot who need to die.

It's not irony. Bitcoin it literally the genocide of idiots like you.

It's been my pet theory for a while that Bitcoin is a way to destroy some of the USD that were created during Obama. So many Bitcoins are on dead wallets or on encrypted wallets. The FBI auctioned only ~150k BTC from the 600k+ that Silk Road had. Satoshi will never sell because he is probably dead or intentionally destroyed his wallet. A million BTC for $15k a pop means Satoshi's net worth is in excess of 15 billion dollars. The idea is that Wall Street kikes buy up the Bitcoins with Obama funbux and then the market gets crashed out. Fun times.

What would happen if that guy dumped all his bitcoin at the same time?

No, you are just a fucking retarded potato nigger.
Example
>It has no use beyond niche electronics
almost every fucking electronic device on this planet contains gold, almost every human on this planet walks around with at least one electronic device on their person at all times. Explain how that is a niche.

Every retard talking about it and every grandma buying into it (as they are right now) is usually a good sign to quietly pull out.
>When all the sheep are in the barn, it's shearing time.

Careful Anons. Steady wins the race. My statement from ~$200K in market orders filled during the night of 11/8/16.

If you dont understand that almost all gold is owned for speculative purposes and not used in electronics you have truely earned the title of MUTT.

thanks, I dont really understand numberology.

i just think this might be an extreme case because its central motive is gambling.

>when it suffers a truly destructive crash, which is statistically inevitable, then it will never stop crashing since it is based on nothing
>meaning if it ever loses 50% of its value it will lose 100%

but this means the insatiable thirst of people to gamble will have to find a new home... and the bitcoin story could actually repeat itself despite being constantly referred to as a "once in a lifetime event"...

since it's not actually anything, it won't just pop and re-stabilize. it will collapse completely. it just has to get pumped to the peak of human willingness to gamble which is unknowable.

he couldn't

there's simply no liquidity in any exchange to even get close to dump half of it

I think there is time yet. The fact you can download an app to your phone and near effortlessly buy any small amount means that the amount of sheep is larger than ever before.

But if he began doing it...

There are 3 reasons why this thread exists

1) OP is a pink wojack who sold everything at $5000
2) OP is a pink wojack who never owned anything
3) OP is a Goldman Sachs shill trying to get the price down to find a reasonable point to re-enter

Things the OP is not:
1) Concerned for his fellow user's wallets

So give em for the purge.

tell me what it is like to have money

Not everyone has $200k to invest. I'm slav tier poor so my only chance of making it big is gambling big, and so far it's paying off.
I started with about $15 (that's 15 dollars, not grand) and have been making +10% daily for the past 2 weeks now.

A-ha! Not so, my man! A whale could put the BTC in the orderbook for way less than what the market is currently agreeing on and take up a ton of orders. Eventually people's exchange triggers add up like when that one lucky dude bought a ton of Ether for 1 cent. It just takes a little order book manipulation to dump.

bit by bit, continuously?

*Pop*

Liquidity problems would still ensue as other people would panic and try to sell. They would be fucked because they wouldnt be able to.

spend X amount on bitcoin
bitcoin rises to X+1
sell X
keep 1

As long as you sell anywhere >X you win, so whats the fucking point of being negative on bitcoin?

well, I was working with a regular situation, buying at market price...