What went wrong Sup Forums? Why is Bitcoin dying?

What went wrong Sup Forums? Why is Bitcoin dying?

Rothschilds had enough

>BUY THE DIP
>>/biz/>

The traditional 2-year crash in BTC.

Like clockwork this time

Currency manipulation.
exactly. You have all the debt based fiat money in the world. Just pump and dump until the bitcoin holders are sick of the volatility and you destroy the other currency.
It's how they replaced gold and silver with their fake fiat money.

Normies were getting into it, the final stage of every bubble.

>it rose over 1000 percent and then dropped 60 percent so that means I'm right

>in 2013, I made a completely general non-prediction
>holy shit I was so smart and correct

Because it was over-hyped. No surprise.

>NO COINERS BTFO
amirite?

so is it like pump and dump bitcoin until it starts retaining other currencies? if all my money could be accepted as bitcoin thats what i would want as my deposits

user said it as well as anyone

This.
>hdurr durf 0.001c to $10,000 is terrible

>The traditional 2-year crash in BTC.
>Like clockwork this time
this

The ultimate fate of all currencies that are rooted in...well, nothing.

The only reason the US dollar is still afloat is because of the petrodollar. It's the keystone in our economic house of cards.

Sounds like someone else has been following the charts for more than a few months.
And knows what unmanaged markets look like without a plunge-protection-team

Yeah it is funny. I just hope that the hype did not kill it for the next cycle.

Bitcoin will correct to 6000 which is a real value it should have now if you cut off the bubble that has grown due to media hype and by the December 2018 will hit 50k USD.

this, the goal for the ending of 2017 was 5k, normies hyped it too much and this happened, buy when it hits 4k

man its almost like something with no intrinsic value apart from hype is dropping back to its real value of 0

Jewish media has been relentlessly attacking crypto since December. I like it because the boom was bringing in too many normies and their normie AIDS.

If this was crashing to 0 it would be going far faster than 60% a month, this is just a correction due to its ridiculous rise last year.

It's a fucking currency, not a stock. If you use it the way it's intended, what it's worth for 1 coin doesn't matter. The prices fluctuate on the sites, to represent the current value 1 btc.

Because mining is too energy expensive now. And mining is the foundation of bitcoin exchange.
No exchange => no exchange value => currency chrashes.

Exactly.

Olympics

they ran out of idiots to buy into their pyramid scheme

It is not a bubble, buy now, it will go up to 50k. You’ll be sorry if you ain’t buying now.

Because at its current price it is useless as a transaction medium. You pay $30 per transaction. No one will ever buy everyday goods with such a currency, and not with such volatility.

People are buying it because they expect it to go up in price, not because it's a useful currency currently.

The "true" value of bitcoin is $500 - $1000 and is derived from its advantages, such as anonymity and decentralization. That's reflected in the transaction costs at that price.

Bitcoin right now is not a currency, but an art shop, with people speculating on the price of precious art.

another market crash will happen in the us one day
belive me im a prophet i know what im talking about!

>implying it can't rise again

>50k
>ever
You'll be lucky if it doesn't drop to 2k.

> Creating more bitcoins increase their value.

>next cycle
People talked about Bitcoin over christmas dinner.
Who do you expect to buy in next, aliens?

Sounds like a lot of Sup Forums predictions.

>tfw bought into the meme at 12k and didn't cash out at 19k

I'm losing my ass here...

Also brought in the normie money. Without the demand, there's no value.

After is went up over 20000% in a year. It is not speculative to believe it will go up over time

Saturation. With the way bitcoin works, the more machines you have mining, the more bitcoins there are and the value goes down.

It's over, it's never recovering says increasingly nervous nocoiner for the 10th time

No, creating bitcoins (mining) is how bitcoin exchange is carried out and verified.
The mining algorithm works with a cryptographic problem applied to transactions on the current public ledger. When the cryptographic problem is solved then it is put into a block and added to the blockchain. A valid block in the blockchain is at the same time a valid bitcoin and the miner gets to keep it.

t. boomer

Can you explain how a currency based on something that there is an infinite supply of can increase in value in the long term?

>Muh objective value
Fuck off, Marxist

bitcoin's principal strength, the ONLY thing which makes it attractive from a point of view of speculative value, is the fact that it is mathematically limited and is therefore more protected from saturation than every other form of currency in existence

There isn't an infinite supply, you stupid nigger. At least do the minimal amount of research.

Because it's made up, no government backs it, no physical backing. Literally just made up and the only people who gave it value were the 1% that owns 97% of all bitcoin and that was to cash out as much as they could. They inflated their own shit to make money off it and now people are waking up.

It's almost as if value is subjective. Really joggins the noggin, ay marxist?

...

Quantum computers are just around the corner, though. How is bitcoin prepared for that?

Exactly. Bitcoin is just a scam and a currency used for untraceable transactions (Which, by the way, people can trace now.). So it's useless unless you want to buy CP or a hitman off the darknet..

it'll go back up at 7k. some rich fucks are just manipulating the market to make even bigger profits.

Less than 2% of people own any cryptocurrency.

So no, it is not a bubble yet. Expect every company, even small companies, to create their own crypto and old people owning cryptowallets through third party companies.

THAT will be the real bubble.

not Marxist but ok? lolz wtf?

kike manipulation

they bought btc, then shorted it on the normie market when it was open, then sold off all their btc causing the crash

it will go back up and the kikes will do this over and over because those crimes are not prosecuted because kikes are the ones in charge

Nothing is prepared from quantum computers. It would hurt bitcoin a lot. It would hurt everything a lot. It will/could change the world if/when it ever happens. Nothing about this changes basic facts. Bitcoin is a digital currency which require a mathematical formula in their serial number and therefore it is the type of currency that is the most protected from saturation than any other currency in existence.

Hopefully investors are realizing that other cryptos are superior to Bitcoin. Or there's just more price manipulation than usual since Bitcoin futures markets went online a few weeks ago. Notice how prices outside the Bitcoin sphere haven't fallen as much.
You might get one or two more opportunities to buy in this low.

explain how this is Marxist?
>Can you explain how a currency based on something that there is an infinite supply of can increase in value in the long term?
>Because it's made up, no government backs it, no physical backing. Literally just made up and the only people who gave it value were the 1% that owns 97% of all bitcoin and that was to cash out as much as they could. They inflated their own shit to make money off it and now people are waking up.
and why are you ?pol nerds raging about?
different opinions? you sound like liberals. muh muh fiat stfu u idiots have no idea how the economy works. u act like the fed is literally satan. same people who know jack shit about jet engines talk about chemtrails. you kids are dim af.

t. boomer

Haahahahhaaha

Because objective value is a marxist theory, you fucking retard.

Being shorted by kike bankers who are going to buy it up then go long

Normalfags jumping bandwagon fatten this shit up.

Normies bought into it and they were too fucking stupid to know how it worked. So they quickly exited and sold at a loss causing the market to crash.

>bitcoin is a bubble and you're going to lose all your money!!111
>gains 25000%
>drops 60%
>see I told you

wew some people

And how having less bitcoins decrease its value. How is the process negating basic supply / demand (and the fact it has no intrinsic value)

Pretty much this. It's back to where it was about 75 days ago. I think it's much fairer to call it a correction at this point. It's nowhere near it's 52-week low, for those of you who think stocks mean so much.

Because it's a scam.

t. Bitcoin investor

This.

They've been going crazy since bitcoin hit $13k. Articles all over CNBC and Bloomberg. Every article since then has been saying Bitcoin will die soon enough and trying to make it sound like a good thing. Bitcoin was going to end their control. White People were getting rich off it. ((They)) couldn't have that. They shut it down by buying a fuck ton of Bitcoin and selling it all at once to crash the market.

Juden. Fiat money is how they control us, that's how they win. Crypto eliminates the jew banker and places the power in the citizen.

This. They did the same thing they did to the British after their messenger told the British stock market that Napoleon won the war and bought stocks at an all time low.

You can't spend it on anything other than drugs.

Thread

Might as well just keep it and forget about it till next year

>Quantum computers are just around the corner, though
What makes you say that?

>And how having less bitcoins decrease its value.
The fact that utility is going down as you can't exchange them anymore.
A currency that can't be exchanged is pretty much worthless. It's one of the three fundamental properties a currency must have. Who is going to accept a bitcoin if you are having a hard time exchanging it for something else?

Well, I invested in Bitcoin when it was only 25 bucks a piece. So I could care less how far it falls because I've already made 220k off of it. I still have plenty but I'm going to wait and see what happens. If it drops to sub-5k, I'll move to liquidate and then take my profits and put them into my portfolio.

If it recovers, I'll hold out for more profit.

Bitcoin is finished this time says filthy nocoiner for the 7th time

...

As soon as it made the news you should know it's going down. Once the normie money is in the bubble there's no more sources of pumping.

ITT: salty bagholders

What goes up, must come down

This. Fuck those shills. Buy Bitcoin idiots. It will rise again and you'll be filthy rich.

>trying to create a replacement for fiat money by basing it on the value of fiat money

Cryptojews

Sell it now. But it back at 5.

Seriously, user.

Short term and long term investment are both important for the viability of a currency. Sure it's great for the people that bought coins when they were worthless because even now selling would make you hundreds of thousands of dollars. But that's not viable for more common investors.

>"crashing" to 8k
>"dying"

I'm still up 40x

Does that mean GPU prices will lower? I need a RX 580 8GB but 550$ CAD is theft

When it takes hours to validate a transaction its safe to assume your "currency" is broken.

Wait for Volta.

The government needs to step on this shit already.

>goes up to 12k in a couple of months
>drops down to 5 in a couple of days
>totally not a ponzi scheme goys nothing to see here buy the dip

Who cares. At this point you need to protect yourself from the fallout. Get in here discord vM2SmNJ

I thought that was Volta, thanks for the tip, I'll wait

Anyone who trades real money for virtual money is an idiot

Lmao, this "bubble bursting" has happened like 3-4 times already.
It will go down a bit more then go up to a new all time high, just like always.

"Marxist theory" doesn't believe in objectivity or value.

I'll never forgive cryptoniggers for what they've done to the graphics card market.

>crashing 60%
>after a 1gazillion% gain