Just like today we teach the 1929 bubble and the 17th century tulip craze?
Also, why is noone regulating this shit. They are regulating everything from jagdwurst to airplane refrigeration units, why not cryptos?
Also this week, the Securities and Exchange Commission announced it was shutting down a little-known cryptocurrency project called AriseBank. The project was endorsed by boxer Evander Holyfield and claimed to have raised $600 million, but the SEC contends that the project was fraudulent.
Because it's too new and no one really understands it yet (at least nobody in the position to regulate anything). It's the wild west right now but it will be regulated at some point for sure.
Joseph Hughes
so should have put all my money on trump to win. was right to not buy coins when everyone was saying buy them.
Brandon Harris
In 100yr the few muslims left will be some small and isolated villages in africa, with no electricity and living in mud huts. I don't thinks they will know what a bitcoin is
Alexander Bailey
So you are suggesting there will be nuclear water.
Dylan Perry
>pyramid model starts tumbling down without new users who woulda thought
Liam Young
Remember guys buy high sell low
Carter Stewart
BTC as a currency is fucking worthless and has been outclassed by ETH. This is just the flippening that has been a long time coming.
Gavin Martin
No, you smelly sand nigger, nuclear winter for mudshits
Jacob Garcia
It's nature's way of cleansing the pockets of retards. There's literally nothing to learn here besides : a fool and his money are soon parted. Same ol' lesson of yesteryear and the years before it. Good riddance this cancer. Take this shit all the way to zero so the message is clear.
Isaac Reyes
8k is the bottom, I said this weeks ago, set your buy prices to 8k
Thomas Murphy
lmao so many tried to cash out but barely anymore was able to actually get money i wonder how many fucking idiots still think they know what they are talking about when they got fucked, hard by this Chinese/North Korean scam they used to bypass sanctions, then turned around and used it to buttfuck idiots
Gabriel Phillips
ethereum might be a tad bit better s a currency, but it is still 10,000 levels away from the requirements of a global payment system. XRP can do it, not ETH.
Nolan Nguyen
is /biz losing their shit
Jack Perry
Probably in your country, Akmed.
Leo Diaz
I personally have significantly more ETH than I do BTC. There is room for both. I think the Flip would be better off happening later, rather than sooner. If BTC gets flipped too early, normies will get scared off from the entire market.
Luis Cruz
smart people cashed out a while ago so yhea, probably
Nolan Bailey
Don't care. Hope it all crashes so I can get a new GPU at none retarded prices
Owen Lewis
I don't hate the idea of Magic Internet Money, but each one of them being worth thousands of dollars is and always has been retarded
Currencies like the Euro and the Pound never passed $2 in value and only a handful of oil sheikh meme currencies pass $3.
You can tell that Bitcoin was never intended to deflate THIS hard because right now the simplest transaction has a $30 service fee. Not a big deal if you're just cashing out tens of thousands of dollars at once, but imagine trying to run a company like Amazon or Newegg on those kind of margins.
Liam Taylor
Pretty good deal on Spankchain for anyone interested.
-Many porn-stars with vast social media influence invested -future cam sites incoming -future crowd funded scene bounties market
>I don't hate the idea of Magic Internet Money, but each one of them being worth thousands of dollars is and always has been retarded >Currencies like the Euro and the Pound never passed $2 in value and only a handful of oil sheikh meme currencies pass $3. Literally what does that have to do with anything? Are you retarded?
Oliver Cruz
XRP? you do know ripple is centralized right?
Angel Foster
No, people are retarded. There's a psychological barrier to something costing "0.000015 moneys" as surely as there is to something costing 150 trillion moneys.
Also way to skip straight over my second point, your Starbucks Bitcoin Latte will be $5 bitcoin equivalent for the overpriced shitty coffee and another $20 just for the privilege of using the currency of the 21st century because of the transaction fee. And remember that once upon a time Bitcoin's claim to fame was that the transaction fee was LOWER than traditional credit systems.
Kayden Morales
>be me >create digital currency >create fake bank >ask why not $1,000,000 per fake coin?
Kayden Wilson
this is a retarded observation. Other money does not raise to that scale due to one not being able to divide it significantly. The smallest value of worth you can deal with in USD in 1cent
Elijah Long
>Also, why is noone regulating this shit
because Jews don't invest in a fad.
Noah Ward
> Chinese/North Korean scam they used to bypass sanctions - Not only did they sell shovels (the maker of all electronics : GPUs/CPUs/Memory).. but they kept the most efficient and best ones for themselves [Custom Asics]. - Then they got their people out of the market first [Chinese ban on exchanges/etc] - Then they sold off all their shovels [Asics now being dumped on idiots] - And they used it to circumvent sanctions
Literally got in and out at the peak, sold shovels, and then sold their own equipment off before everything went tits up.
Josiah Hall
Not until it goes to zero.. It's going to hover around 7,500-8,500 and trap more dip buyers before they pull it. Anyone whose still in it after these levels deserves to lose every fucking penny they put in this scam that has wasted computer resources and energy.
Julian Wright
why does 55% decrease count but not a 55,000% increase
Oliver Bell
which is why it works
Matthew Long
Somebody did this. The highest valued crypto in history was 42-Coin. If you had sold one 42-Coin at its peak in 2014, you would have gotten 1,900 bitcoins for it. If you held those bitcoins for four years, you could have cashed out for $3.8 million. For one meme coin invented by one anonymous assclown on Github four years ago.
Jose Evans
>goes to zero >this scam that has wasted computer resources and energy. the burden is on you to provide an alternative currency that is not an even bigger waste of computer resources and energy
David Clark
Yep. They literally ripped these retards off.
Logan Sanders
Less centralized than USD
Carson Turner
>There's a psychological barrier to something costing "0.000015 moneys" as surely as there is to something costing 150 trillion moneys. That's why the basic unit is satoshi, which is a 100000000th part of a BTC. 1000 satoshis is one dollar. I'm sure you could come up with an ad-hoc "kSat" unit or something which would be roughly equivalent to a dollar. This is literally not a problem.
>Also way to skip straight over my second point i agree with your second point.
Liam Nguyen
>be me >US govt >print money used all over the world >but bitcoins are more valuable. ok
Isaiah Brooks
basically the only way to use bitcoin is to convert it to something else most likely dollar. so it's not a currency it's an asset
Lincoln Perez
>>Also way to skip straight over my second point >i agree with your second point.
you know that is impossible. You cannot agree on pol.
Lucas Gray
when i was a kid i used to play on maplestory and we had these things called mesos which were in-game coins.
bitcoin is nothing more than larping currency
Charles Flores
> the burden is on you to provide an alternative currency that is not an even bigger waste of computer resources and energy Being this fucking retarded... HODL till zero fucboi. The jokes on you now. While you're at it, get a fucking job that pays in a real currency
Chase Foster
No. Computers are Haram.
Tyler Foster
The fun's just getting started
Gavin Jackson
>42 more lore please i want to know more
Nathan Scott
not true, I was at temple many times and the rabbi never said anything about computers being bad. He just said nobody should whatsapp or facebook during prayer.
Luke Gomez
I know there have been attempts to run good faith direct crypto to merchandise services but yeah, a lot of it is naked USD laundering. When Newegg experimented with accepting Bitcoin payment, people looked under the hood and discovered their system simply automatically dumped Bitcoin on an exchange and cashed out to Newegg.
This is such a stupid and obvious statement but I don't think you can have a currency without a country. A country is such an incredibly useful base to establish the faith and credit of the currency in the first place - and I'm not talking dollars here, as in you can work for Yuan and then use those Yuan to buy electronics in Shenzen, you can work for Euros and then use those Euros to buy a Mercedes in Berlin, etc.
I know there were experiments with private currency and scrip in the frontier days but those were de facto mini-states anyway and they were all stamped out a century ago.
No crypto will have that kind of "home field" advantage until something like Sealand or a frigging space station comes along and endorses it.
Nice summary there, but the tl;dr is that basically the dev hyped it up as "only 42 of these coins will ever exist," they became super valuable, it turned out the hard cap was fake and way more than 42 of them were being mined due to "programming error" (WHOOPS!) and the mysterious unidentified soopy452000 disappeared into the ether as a millionaire.
Jason Turner
For what end? To profit a couple hundred billion dollars? USDs that have absolutely 0 intrinsic worth? Silly
Carson Gonzalez
>BUY MY REDPILLED BOXING NIGGER MEME COINS LEL NOCOINERS
a hope a lot of people are killing themselves over this i really actually do you are worse than the jews
Liam Reyes
>bitcoin is like your mom >by the end of the year it bumped a lot of times as long as big whales keep driving the market it will keep going "to the moon" at the end of the year just to "crash" again
Jordan Ross
/biz/ loses their shit every time there's a major dip, so yes they are. pink wojacks everywhere
Jace Carter
Yes. Many of us are on suicide watch, so is Reddit.
Benjamin Bennett
>so is reddit great news for once
Benjamin Sanchez
Get ready to buy back in boys.
Dominic Johnson
Yeah, I'm gonna do full disclosure here.
I never directly paid money for a cypto. When Sup Forums was going mining crazy, I paid $300 for a Radeon 7950 that I never once played a video game on, mined a bunch of dogecoin and potcoin, lost all my dogecoin when Crypsty folded (turns out if I still had those I'd have made about $50,000, fuck), got pissed and forgot about the whole thing.
In January when the rally was happening I found my old Potcoin wallet in a dropbox, cashed out like a third of a Bitcoin's worth, sold it on LocalBitcoin for five grand. Two days later the market tanked, making me feel like an absolute genius.
Holding about 1,000 potcoin and 0.01 bitcoin expecting them to be worth either $0 or $1 million a couple years from now, and expecting the former.
So I feel like I probably won harder than 90% of people who ever got involved in crypto, can't say I have any regrets.
I feel like this blog post was necessary because everything always devolves into "nocoiner" vs "bagholder" shitflinging.
Wyatt Long
Fear phase is just now underway
Robert Jenkins
Taking a loss is one thing, it happens to everybody
But who the FUCK are these people who are staking their lives and homes on the continued growth of Bitcoin?
Ryder Watson
Are we at “fear” yet? I mean are we?
I don’t think we are at capitulation yet. Too many dead cat bounces still. I say at 4000 dollars capitulation will really set in, dropping this shit below 1000 and thus below mining costs.
Andrew Long
20K B-BY JUNE
Daniel Ortiz
We're just dropping the price for the influx of normie money.
Ryder White
You are clearly a (((BANKER))).
This is the future, semite.
Get on the bitcoin train or get rolled over.
Adrian Taylor
Good. Maybe soon I'll be able to get reasonably priced computer parts again.
Jose Gray
Blah blah blah coinfag. #timesup Exactly.. Capitulation after having Bought the fuckn dip and HODL is when the fun begins. $1k Robinhood.. how fitting. Dumbfags lining up to get blown the fuck out
Jace Stewart
I never make bitcoin predictions...
But MARK THIS FUCKING POST. It will go under 5k before it reboots and starts the climb to 25,000.
Michael Thomas
Meh. I have more money in coins now (with no fiat additions) than I did with BTC at 20k. Play your cards right with the correct alts and you outpace the drop.
David Carter
This 100%.
The straight trend line is around 6500, but the bubble burst demands a dip into the underworld in the despair phase. It could go to 3,000 even i'd say.
Anyone holding bags should sell them right fucking now and get ready to buy around that mark.
Joshua Ortiz
literally 90% of /biz/
Lucas Reyes
Why didn't you mine ether or bitcoin instead of dogecoin?
Tyler Wilson
Kek
Christian Peterson
>there
Nigger please, that circle should be above Fear.
Nolan Anderson
The dogecoin market was quite brisk when it started, it was way more profitable to mine than Bitcoin for a while and eth wasn't on anyone's radar back then
Hunter Morales
All it takes is an entry-level Economics class to show you have no fucking idea what you are talking about, and this is how things work: The big problem here is Bitcoin has no backing so there will be no bounce-back once it bottoms out. lmao
Nathan Fisher
Technically it's been bouncing all along, there was no rational reason for it to pass $10 or $1000
The real question is if it bounces again because it obviously can't keep doing it until one NYC is worth a million dollars
Owen Hill
*NYC should be BTC thanks autocorrect
Dylan Collins
>Bitcoin has no backing ...and what backs your dollar?
Jackson Cox
I invested about $800 in it and I don't give a fuck if it crashes to 0. Remeber kids never invest more than you're willing to lose.
Nolan Kelly
pic related
Hudson Morris
Gold. Very minute fractions of gold
Landon Russell
China/North Korea already got in and got out and fucked everyone with their scam. The only people left are those with big money who invested like idiots, and small-time individuals. There isn't even enough market information to speculate which is why no real big investors are backing it, or even HAD backed it. If there were big investment companies who announced they were getting in on it, then it wouldn't be bad with the China/Nork selloff, but since there isn't, all that is left are those who got scammed holding the bag. No one who knows how to invest is going near this garbage, especially right now.
Austin Mitchell
320 million wagies, 12 aircraft carriers, a thousand ICBMs, 3.8 million square miles of land
Michael Campbell
Gold, oil, a giant fucking military.
Sebastian Peterson
I wish I'd bought Ethereum back when everyone was shilling it here in 2015. Fuck man, I'd be a millionaire.
Eli Reed
They're inflationary you moron, central banks increase the supply ever year.
Daniel Bennett
...
Gavin Reed
>Ethereum damn. that is suck.
shoulda, coulda, woulda i guess
Benjamin Lee
I'm fairly certain that the phenomenon of people shilling ETH on Sup Forums during the Trump primary campaign is why there are so many angry articles in the media about "alt-right millionaires". Sigh.
Gabriel Powell
>alt-right millionaires i didn't even know that was a thing top kek
>angry articles in the media about "alt-right millionaires" sauce?
don't worry bro. i've missed all the gains in the stock market this past year. and i saw bitcoin go from 3k to 20k but didn't think to buy any either.
Ethan Diaz
Made nothin' but profit
Jeremiah Long
BUY HIGH SELL LOW NOW LADS
Leo Butler
The whole crypto thing feels like the one time a bald fat guy in a van labeled "free candy" was actually giving out candy.
Owen Jackson
I missed bitcoin etc, but I was in the stock market - good times. I even bet against volatility whenever there was fake news. I tried that again right before the SotU and got seriously BTFO, though. Still, I should be able to make up for it in short order.
Here's just a few of the articles in the 'media' :
