Is this sustainable?

Is this sustainable?

Yes it is.

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LOL, no.

I give you a tulip for a Btc.

Yeah its not sustainable sell all your bitcoin

Nigger

bump

>BUY MY COINS!

idk buts its fun to watch. the weekly pink wojak spam and damage control on /biz/ is supremely entertaining.

Economy fags, is there a precedent in history for crypto-currency or are we in uncharted territory?

somebody show me a fair valuation of bitcoin, based on it's practical use.
just give a range.

No true Scotsman fallacy.

As supply lowers and demand goes up? Absolutely.

It has no intrinsic value, so $0. People want them, they are scarce, and you can trade in arbitrarily small denominations so this current price isn't strictly unreasonable.

Bout 700 bucks

No but not because crypto is a scam, but because there are better coins that will compete with bitcoin and win in the future.

from buying drugs to kiddie porn. it's a criminal's dream

What? I asked a question

max # of bitcoins = 21 million. So the maximum value is however much of the world economy can be sustainably held in bitcoin divided by 21 million.

Only 6 million Chan coins and there sitting at 3 cents right now

There is no precedent for this in the history of mankind

Bitcoin is trackable, not usable for drugs anymore. Monero is the new wave.
Monero also went from ~10 bucks to over 250 each in less than a year. Currently holding 10 Monero, might sell soon, depensing on the price rise trends.
You all might want to get on this sometime soon.

Kind of uncharted. We know how to value currencies but we've hardly ever seen one that isn't distributed by a government. Demand is key and that's anyone's guess.
If they solve the mempool problem, the sky is the limit. Not even memeing when I say $500k.

Thr thing is that in crypto, trust = time x work. This means that the first mover advantage is much much bigger than in other areas.

I feel like the best strategy right now would be to mine some *-coin that is easy and cheap to mine and sell it in a few weeks of the bubble. low risk side.

Cryptocurrencies: 1334
Markets: 7220
Market Cap: $427 191 167 954
24h Vol: $35 050 050 937
BTC Dominance: 61.9%

1334 currencies. Bitcoin is limited, but people can easily diverge into new currencies that are less crowded, but exchangeable. There is no limit. The limit is an illusion.

I feel like I would be only pressured to own bitcoin-type money, if it was the only means by which I could buy something that I need. And I am not into illegal stuff.

>We know how to value currencies but we've hardly ever seen one that isn't distributed by a government.

ah well if you looked at coupons then you would have many examples

Yes

it's the currency of the back market

>Is this sustainable?

lol no


youtube.com/watch?v=WUk_p_JTm3Y&lc=z22pzdnz5wu0wb5mxacdp434eqaf4mxaszaaicpf1bhw03c010c

going to sell at 18K

No one is gonna buy at that point.

No!

Its not going to crash. The more people who buy into it, will ony push the price higher and higher. There's no stopping it now. Even boomers are getting in on it. They will put their entire retirement ($5000) into bitcoin.

And yet it is only a small fraction of global markets, but offers better intercounty trading potential than any currency.

>offers better intercounty trading potential than any currency
sounds memey

Yeah right.
The newspapers will write an article about it, 90 IQ facebook dwellers will bite. Its that easy really

Can Confirm, my boomer father is just now starting to invest. If this is a bubble, we are still in the begining

How is that different from the front market?

You can't cash out Bitcoin user. You can buy other cryptocoins with it though.

youtube.com/watch?v=KYHLar--tac

U N S U S T A I N A B L E

coinfags what do you think about litecoin and monero?

Gemini will wire xfer within one day if you do it before 12pm stfu if you dont know what youre talking about retard. You can turn crypto into dollars in a single day.

Is that supposed to be an argument? Two countries trading goods with btc is more stable than USD. Right now the US can and does lower the trading value of every other country's goods when they inflate their currency. Btc is independent of any one countries attempts to corner it, their attempts merely raise the value of the btc everyone already has.

Boomers are who will buy it at this point then it will crash. Just cashed out over the past month and have enough for a house. I am sure the tax man will be after his cut soon

I meant black

you meant BLACK

>remember btc being shilled here forever ago
>heard about the process of "mining" it
>instantly rejected it

i made the right choice, right?

depends if you wanted to rip off suckers in a get rich quick scheme

No intrinsic value, like any other currency
Problem being that it is not being used as currency by 99.9% of holders but rather an investment vehicle. Each guy is HODLing hoping the price will rise and he can sell to the next idiot
It is not sustainable. One of these will happen:
1. Price continues to rise indefinitely, until it hits logical limits (computation size, energy use from mining etc and you move to step 2)
2. Price stabilizes, and it is not worth it buying/HODLing BTC for people who took loans to buy BTC, so they start selling, leading to...
3. Exponential crash in value of BTC

Note that 1 is not a prerequisite for 2/3 and 2 is not a prerequisite for 3.

It's going to be a crazy, fun ride.

Has anything ever increased this fast? How did it turn out?

>"No!"

I love lurking /biz/ and I haven't bought a coin in my life.

Then you'll be kicking yourself when it hits 25k.

My two cents:

I know a few people who are rolling hard on this. Making money hand over fist. I have a buddy out in California that won't even step away from the computer to get laid because he is literally making 100k a night. If you buy in now, you will still make money. I promise you that. If/when it crashes, and that won't be for a while, it will instantly erase a LOT of wealth, and people, many people, will lose their asses. I am NOT in this, and I will not get in, but I see people making a fortune with it right now, at least on "paper". My buddies are not taking cash out, and not even trying, so my skepticism is in 1)will they be able to take all their cash out when they wish? 2)will the government eventually step in and "shut it all down"?

yeah back in 86
youtube.com/watch?v=j4JOjcDFtBE

>That list
>Holy shit that list

Ha

ya. like the dick you like to suck

>A bubble so big it reverses time and charts exactly like a bubble

You are literally retarded.
It is going to be some sweet when it comes crashing down. Might even trigger "the" happening. Buy guns and ammo boys.

Opinion on investing in XRP ripple guys?

I dropped a few hundred on them, and for $0.23 it seems like the easiest one to get into for now, at least until litecoin drops down again, and XRP goes to at least $0.26

Do you faggots even understand economics? Looks like every other paradigm that tanks. This bubble will pop soon. Based off current trends certainly by the new year. Sell!

>not backed by anything
>produces nothing of value, but actually consumes decent amount of energy
>can't actually serve its intended role of a currency
Sure thing, Shlomo. It is sustainable. Literally sell everything and invest in bitcoin right now, it will be 1 million in no time.

For now it's working like a pyramidal scheme, and we all know how that ends up.

they cant even cash out

and if they theoretically can, they'll be paying 40% capital gains

bitcoin, as basically a put option against the state, is not going to be permitted by the state. the stable states (jp, korea) could theoreticaly permit it, but then ould be permitting foreigners to outprice them in their markets (never happened once historically)

btc is the repricing of estern markets, not fundamentally more valuable. if you have your money in a market that isnt being repriced, you don't need it, and if you DO need it, you probasbly need guns, iodine, and clean ater more

the only stable currencies FORBID the currency leaving the country

there is nothing to change btc into save for guns

Imagine being this stupid.

I can see why Russia was able to just take a piece of your country...

This

...

>i created this whole thing
>i'm an honest japanese ronery nerd nobody knows
>trust me

The whole thing reeks of kikery

Monero is probably going to take off soon since it completely hides your transactions and balance. One of the things I think is weird about bitcoin is that anyone can look up your transactions forever. Advertisers could just scan for your purchasing habits for free.

Fuck off, Marxist. Value is subjective.

they failed because their counterelectronics support (provided by america) had been filled up full of blacks and could not match russia (literally)

russia has an almost completely decentralised paramil support system

>litecoin at ~$130

I am unsure ho the math functions but increasing the volume of the ledger is integral to forcing participation in the net, yes?

the ledger needs a proof system. transaction history provides that and integrity to boot

if there is no ledger I imagine forgery becomes trivial due to moores rule

Why bitcoin will crash (and it's a good thing)

Made 2k in a week, which is nice but I don't see it getting too much higher.

ayy

it got down to like $79 a week or two ago, unfortunately I had to have an emergency hospital stay for a while and missed out

fucking appendix...

>Am*Ricans have no capital gains allowance

t. I bought shitty trash coins instead of the king.

what a load

I don't think this passes the vertical line test...

If you did mine them years ago, you'd be a millionaire.

>could have been a millionaire
>there was a chance

i can take this away from this failed experience then

I really want to know how it feels to accidentally $16k of ones and zeros. Please feel free to dump your waste ponzicoins here: 153J17yNUPmYCJNacmZmEYW3xt6wzCDriV

should have been fist post.

how much bitcoins do i need to buy this "art"?

>he thinks bitcoin is supported by scam Keynesian economics which dictates bubbles

The rock doesn't sell his private stuff.

TFW it plummets and plebs have to get a real job

Is this sustainable?

Yes it is.

>buying things with bitcoin
Hope you want other memecoins

see also in that same timeline: global population figures, global IQ figures

Tell me what coins to throw my shekels into

I don't think bitcoin will ever take off as a mainstream currency recognized by normies, if only for one simple reason:

>go into gas station
>yes I'd like a pack of cigarettes
>yes sir that will just be zero point zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero two five one five bitcoinsz
>would you like a receipt?

>that will be just 1000 satoshis

so you're saying, HODL for a few years and become a billionaire

can do, fuck I started going into crypto to buy a Corrado, now I can buy 10

>what is satoshi

>dumb no coiner doesn't know anything yet again

Each bitcoin is one hundred million satoshis. It won't be used as currency like that because it is too slow and costly to transfer, in the same way you don't take a gold bar to a shop. There are already better coins for buying cheap things.

Delete your comment before you embarrass yourself further.

Read the basics here

reddit.com/r/Bitcoin/comments/7gfkjq/rbitcoin_faq_newcomers_please_read/

Not for long.