The kikes are afraid

the kikes are afraid

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99bitcoins.com/who-accepts-bitcoins-payment-companies-stores-take-bitcoins/
youtube.com/watch?v=GNo7MDN5-0g
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>bitcoin is a ponzi scheme - it will stay afloat only as long as enough people buy the fiction that bitcoin represents real value

so it's different from dollars how?

I wonder if the jew that said that realizes the irony or not.

Indeed, the Federal Reserve prints and electronically issues unlimititted USD and some how it's legit.

can't wait until we get a repeat of December 2013 and all the mouthy bitcoin cunts kill themselves again

Apmex feels differently.

American military....

basically this. I don't end up getting drone striked if I refuse to take bitcoin.

We have the autist online tech meme military.

That's a real fancy way of spelling nothing.

National currencies are backed by their governments, and by extension the economy that government/nation represents/produces.

The CAD is backed by the Canadian GDP.
The Euro is backed by the EU GDP.
The Russian Ruble is backed by their GDP.

Bitcoin is backed by...

a fucking leaf gets it

>Digital currency with no intrinsic value (blockchain technology not unique to Bitcoin)
>Most of bitcoin wealth owned by chinese and Sup Forums faggots
>massive processing fees, wait times and the block's throughput is too slow to handle any real market's demand

and the last point:

>Normies with no idea of the history of bitcoin nor the technology behind it are driving a speculative bubble purely out of greed

Countries and etc have been destroyed to preserve the petro dollar but OK bindi

Greater fool isn't the same as a Ponzi scheme.

What is national economy? Fucking pleb, read a book.

I don't believe in bitcoin (no coin fag) but if it's got (((them))) scared I support it wholeheartedly

It's legit as your military says it is.

Bitcoin only exists to siphon money from American idiots. Early adopters cashed out or at least cashed out the equivalent of what they put in so they're risking nothing.

>American military....
lel no. that would imply that every country is defended by america's military. it's backed by oil you dumbfucks

The value of the entire US wealth of assets and economy.

DIGITAL
G
O
L
D

Jews are terrified of bitcoin.

>defended
a fucking leaf completely misses the point

...

Hopes and prayas and lots of shilling.

Bitcoin is backed by the incentive of all current holders of bitcoin to maintain transaction liquidity. If you have bitcoin and it's tanking you have an incentive to fix whatever is going wrong.

I love how they keep explaining how economics work and then tell me thats why bitcoin will fail.

The american Military attacking it's own for using Bitcoin would just make America Poorer.
No way trump would do that.

Bitcoin is the petrodollar of cryptos

You want to participate in a new coin ICO? The payments are done with Bitcoin.
You want to cash out your alts? You have to convert to Bitcoin first.

by doing what. Selling? Holding until you're the only bagholder left? These are your two options.

There is no consensus among bitcoin holders. The only thing you see are price fluctuations. There is no base "value" of the coin, unlike a company's stock that is tied to the worth of the company.

you're a retard. you don't even know what the petrodollar is

Trust n algorythms

>know what a ponzi scheme is
>recognize similarities with bitcoin
>tell people you see similiarities

Wow user I guess you have to be like, super smart or something to understand the substance of the article.

Fiat currency manipulation by the (((Federal Reserve))) is a scam but so is bitcoin

so in other words it's exactly the same as fiat but without the middleman?

okay.

When Bitcoin crashes will my PMs go up?

who's going to enforce your bitcoin loan you fucking idiot

dox kike mods and jans

>lets dispel this fiction that Bitcoin has no real value.

>being this stupid
it would imply that countries are forced to trade oil in USD under threat of military force
which is why they killed Qaddafi

that isn't what you mean when you say a currency is 'backed' by something you dolt

I... what?

Is there some sort of Super Advanced Economics book I forgot to read?

If you people can't see this is a huge pump n dump you are insane.

A few rich guys bought 80% of all bitcoins and are causing a social frenzy about it.

They are all laughing their asses off getting ready to dump that shit and watch it crash.

you can't just change the definition of words to suit your dumbass argument, this isn't a liberal arts classroom

It's not all about the exchanges. The network enables transfer of value between two entities regardless of what the coins are worth. The value is in the ability to make transactions outside of the regulatory authority of any governing body.

Nobody has to agree with you in order for you to send bitcoins to someone.

>"hurrr teh value of teh dollar is teh murrica military..."
shoot yourself you retard. you don't even know what you're arguing about

The kikes want you to take loan to buy memecoins

Is buttcoin a giant pyramid scheme or something more nefarious?

US dollar is backed by oil, and this petrodollar system is backed by US military, what is there not to understand?

blah blah blah retard! it's only ponzi scheme when kikes aren't involved in it, but when it's WORLDCOM or ENRON or 2008 SUBPRIME MORTGAGE then it's all good! When kikes are shilling so much trying to warn the "public" is when you know something good is happening and we should focus more on decentralizing.

>kills anyone that doesnt believe in usd
>gib me dats all survive
Yes i dont see a problem there

the us dollar is backed by the petrodollar which is backed by oil. countries like china don't invest in american bonds in exchange for american military protection you jackass

Bitcoin is impossible to cash in. Thus it's worthless. How many stores accept it? None.

>Bitcoin is backed by..
untraceable transactions; the bane of the control freaks running the planet

No, it's a classic Tulip Mania. See also: Greater fool theory, Survivor investing, Keynesian beauty contest.

not even a name on the article's clip. coward.

In order for BTC to be worthless, everyone that owns BTC would have to agree that it's worthless. The blockchain is tangible, not abstract. It's not FIAT currency, it's a placeholder for value.

>has never heard the term "petrodollar" before
>doesn't understand why the US constantly has military in the Middle East
>doesn't realise bitcoin isn't even viable as a currency because it's too slow and transaction fees are too high

>that meme flag

Econ for dummies

Quads of truth. They must have bitcoin in thousands of accounts so they are never affected by the thousand dollar withdrawal limit.

kikes want you to buy bitcoin (or Ripple for that matter) tho
what they DON'T want you to do is to buy Monero.

Its a store of value, dumbass

Yes. Yes they are.

Pic VERY related.

It's entirely possible both that bitcoin is irrational and a mania, and that its sudden uncontrolled rise makes the powers that be nervous because they can't control it and its collapse might fuck up their own schemes

People actually use dollars retard. To go the the movies, buy clothes, pack of cigarettes, grocery shopping, bills, mortgage. No one uses fucking bitcoin for shit it’s a meme currency and will stay afloat simply because retarda keep buying into the hype. When dumbasses realize it doesn’t pay bills it’ll crash into reason shit still has any value is cause u retards can’t cash out.

>military protection
Sit down, shitkid. You know nothing. OPEC countries refusing to trade their oil for US dollars, or attempting to challenge it will get you invaded by US and murdered. Iraq did not trade in US dollars, Iran, Syria, Libya. Venezuela is heading that way too. Russia still sits there.

The thing is bitcoin unlike all of the things you've listed has an artificial scarcity, so there is always a demand for them as there is always the potential for profit.

>unlike paper money....
Who reads The Hill, anyway?

>It stays afloat only as long as enough people buy the fiction that bitcoin represents real value
Isn't that true of any currency that isn't backed by gold standard? (which is just about every currency alive today, including USD?)

>bails out huge companies
>transfers wealth to races that literally want you dead
>funds militia for countries that literally want you dead
>is scared of bitcoin

Come on, it's Bibi. What does Bibi have to gain from pulling a prank like that?

so you haven't even heard the term 'petrodollar' before but you think you can argue about the subject. lel kill yourself

>"muh u.s. military is in teh iraqs cuz teh gold standard!!"

ok, kid

Godspeed, have-coiners. I want to kill myself for being a no-coiner but I won't try and blackpill you to make myself feel better.

so you think that means the value of the dollar is the u.s. military? top lel you stupid commie faggot. go learn a thing or two about how the real economy works before trying to argue about it

Why would they be? If bitcoin ever gets adopted as a currency (not a speculative asset like now) which is unlikely because of how terrible a currency it would make (inefficient/expensive transactions by design) people will start bringing it to their bank to invest for them and you'll have the exact same system.

First result on google
99bitcoins.com/who-accepts-bitcoins-payment-companies-stores-take-bitcoins/
I really hope you were doing the cant cash out meme

It represents real value because people buy drugs with it. That's what they're trying to crack down on.

you should all know that the argument that nothing backs bitcoin can be used the same way for fiat currency. dollar isnt back by gold if you didnt notice, the only thing keeping it afloat is the government saying "Hey use this to do transactions here, okay!" and then propping up banks to circulate it and act as a middle man.

the difference with cryptocoin is that it eliminates the need for the middleman, the banks.

Bitcoin is a ponzi scheme. When enough investors populate the base of the pyramid they will collapse it. They know enough people are leery of investing in the stock market and are looking for a safe haven. Well with bitcoin they will steal the last of those peoples wealth too that they couldn't otherwise in the stock market. Physical gold and silvers is where you should be investing. But it would be better that you invest in food, water, water filtration, first aid, extra fuel and to have enough for 6 months. There will be a global financial reset as the central bankers start up the financial system in the East. The West is debt saturation as the central bankers can't sustain the system any longer. Their fiat currency system has a fifty year live span and it's coming to an end. Bitcoin is part of the Beast system.

>Come on, it's Bibi. What does Bibi have to gain from pulling a prank like that?
Buttcoins mate

>not understanding how greentext works

anyway the bait there was for you to go "oh but bitcoin can just be replaced by another coin", at which point your whole argument falls apart when you realise that there's nothing stopping it from being replaced by another coin and it actually doesn't have any inherent value
there IS something that stops the US dollar from being replaced by another currency, namely the US military, which is why it has inherent value and is why it's correct to say: >the value of the USD is backed by the military, whereas bitcoin is inherently worthless

The dollar is deflationary. People (generally) don't buy dollars to speculate/sell for more later but to make transactions/store value.

>Jew
>having self-awareness
Not bloody likely

It has no use value, just exchange value. And unlike other currencies, it is not backed by a government overseeing an economy + institutions, where this currency is guaranteed to see use.

It's also difficult to mine, and easy to destroy. It has the shortcomings of both fiat, and gold, and advantages of neither. It's only worth something if if you believe it's worth something.

oh i forgot to mention, the other positive of bitcoin is that it cant be printed artificially by anyone and there is a finite amount.

...
No it's literally backed by nothing.

It used to be backed by the gold standard, but the US GDP has little part to play in the value of the USD. Like every other currency, the USD's value is based on demand (which depends on what other countries want to buy from your countries, which for the US which imports more than any country, is huge, but for Somolia, for example, is garbage because no industry) and supply (inflation).

Now, this used to be different when we had the gold standard, but Nixon cut that shit so that we could have more USD in circulation.

Basically, so long as you have a high demand and low supply (i.e. bitcoin b/c minimal inflation and highly popular), the price will go up.

Here's a good video that explains it, with cool pictures n shit : youtube.com/watch?v=GNo7MDN5-0g

This is really the crux. Bitcoin has no force behind enforcing it's value.

But this value is not unique to bitcoin (and bitcoin isn't even close to being the best crypto for this purpose). Maybe Monero has a chance to somewhat survive the crash but for bitcoin the speculation/transaction ratio is so large there is no hope.

Just to clarify, I'm saying that the USD is backed by nothing more than the bitcoin, save the number of people who use it.

>Bitcoin has no force behind enforcing it's value.
Scarcity, which ensures the potential for profit as long as there is constant demand.

Will there be constant demand?
A government can enforce demand, bitcoin can't.

Is it true that there are a finite amount of BTC? I read that at current trends of acceleration, they'll all have been mined by like 2032. Then what, they just become baseball card-tier collectables/tradeables?
Fuck that.

Fucking everything is "scarce" you moron. Tulip bulbs are scarce, that doesn't mean you're justified in paying any price for them.

shit that how the real American dollar started. and still is. it can collapse any time

Bitcoin is the exact same as the US dollar, it's abstract and its value is in the minds of people.

Scarcity for what exactly? The demand is only driven currently by people wanting to turn a profit off of it. What happens when it reaches a price point where people are no longer of the belief that it will continue to increase?

the question was 'what's the difference between bitcoin and dollars'
the actual value of dollars is in petrodollars which value is stored by the petroleum. the value of dollars isn't 'the u.s. military'. the actual value of bitcoin is nothing. it's just a digital point system

Can I interest you in some CosbyCoins? :^)

Government reduces demand by printing cash
Cryptocurrencies have market caps