Bitcoin

Bitcoin is the gateway drug to the blockchain industry which with 100% certainty will replace the current financial system. Why don't you own any yet?

Other urls found in this thread:

freetheanimal.com/2017/09/cryptocurrency-nature-modern.html
groups.csail.mit.edu/mac/classes/6.805/articles/money/nsamint/nsamint.htm
coindesk.com/bitcoiners-finland-send-cryptocurrency-radio/
cointelegraph.com/news/crypto-mining-overloads-infrastructure-in-small-wa-county
twitter.com/NSFWRedditGif

Fuck off faggot
MODS crypto ---> /biz/
Btw, why should somebody advertise a ponzi on Sup Forums when not to dump on Sup Forums

So remember, when crypto thread appears outside /biz/ it is a trap

Because those circuits need to be built with GOLD MOTHERFUCKING GOLD

The rest of you are all so dumb. Sometimes I have leeway in my views but this one is absolute: Gold is the standard in wealth storage. Everything else is a scam so you trade your gold to the jews for shit garbage products, and this time it's not even a physical product!

and just because you can spend it today wont make it valuable tomorrow. you think the world economy will collapse and everyone will forget the wealth of the gold peg?


just go home when you're beat dog

Because crypto has a future. bitcoin does not.

Buy TRTL turtlecoin! The chosen coin of all white men

>with 100% certainty will replace the current financial system

I'm not holding your bag, sorry

hey goy why dont you trade your real money for our fake internet money. that way you get way more money than you started with. it's totally safe we just AGREE that its money and it is. now give me all the gold and keep bitcoins

>why dont you own any yet

Because I own a fuckton of Monero and Ethereum instead

Buy gold, fuck everything else.

>"why should somebody advertise the most important technology of all times aka monetary sovereignty against (((them)))"
>"hey guys be sure to donate to Jordan Peterson's patreon :-)))"

>monero
a man of culture indeed

>altcoins
2016 is calling

>buy gold
>get stopped at every border and have your wealth confiscated

good goy

>crossing borders

>meme flag
>crypto
Go back to fiver Pajeet
and monetary sovereignity, kek, more like Chinese gubermint scamming long noses

*blocks your path*

It's a pyramid scheme.
Imagine if the first ones to dig gold got millions of dollars for an small amount of effort then a couple of years later you barely get anything because the system is rigged that way.

But i guess you can buy gold with it for now.
The design of Bitcoin is flawed and the algorithm could have been different to make it more equal.

every flag is a meme flag when you post from tor with a Sup Forums pass you bought with crypto

Who's got the stinky linky?

This Turtle is the future, goyim.

Crypto is not a currency, even if some jokers use it as such. Hell, I could take a baggy of weed and go buy some food with it right now, doesn't mean that it is legal tender or a wide spread currency. Overstock is the best example, the amount of goods bought with crypto was so minimal it was nothing more than a geek gimmick

In addition, the deflationary nature of crypto makes it irrational to produce and sell goods for it, except if the goods and services are banned, but here public ledgers and the transformation crypto FIAT makes it irrational to use it.

All in all, crypto is a meme that isn't used as what it is, has its value just because of hype aggressive marketing and braindead millenials and Boomers who missed out new tech bubble, and could be easily exchanged with cloud storage, which is cheaper

Sup Forums doesn't support pepecoin? You would commit heresy and blasphemy against your savior and Lord?

>implying your country will not become venezuela in a long enough timeline

>muh flag
>muh chinks
Is this how you cope?

...

*blocks your path*

Only One Reason

That Dolla Dolla Bill

...

>cloud storage same as a decentralized uncensorable unstoppable network
kys

Post the high resolution version

The amount of suicidal retards that said bitcoin was dead at X price are too many to fit on a single picture. 10000 is the maximun resolution that Sup Forums will allow me to upload. Just zoom in and you can read all the coping mongs.

...

At the end of the day it is just a distributed digital storage unit controlled by the Chinese gubermint. At the end of the day no business will use it and prefer amazon cloud storage over anonymous Niggers, simply because it has a TOS and can be sued if they break contract.

Decentralization is just the wet pipe dream of those left behind who refuse to arrange with the system and change it from within

They all sold at $6k. Sepaku it's the only way for them to save face.

What's the long term price of Bitcoin expected to be?

I can't see how it's meant to keep a high price long term. On all accounts it seems terribly designed and managed compared to other cryptos, let alone anything that might come in the future.

If you made a lot of money by buying bitcoin early and being smart enough to sell close to the peak, then my hat is off to you, but I don't see how people buy into it so much as *the future*

Why are you shilling so hard against crypto? You sold the dip and are angry now huh? Toplel I bought your bags at $6k you insufferable faggot.

>china controls bitcoin
>china attempts to ban it
>price goes up

You don't understand how this works. Nobody controls shit on bitcoin.

If china decided to stop all miners, the difficulty would go down, and this would create a cost opportunity profitable for someone somewhere else. It is a self regulating system. You attack it in X area, Y area becomes an opportunity. You cannot kill it, deal with this fact or you will have an ulcer as you are 90 years old and bitcoin has still has had 0 hacks and 0 downtime and is about to hit a couple million Yellencoins a pop.

Learn game theory and you may understand why bitcoin is not about buying fucking coffee with it and why it is worth $trillions.

>Crypto is not a currency

>doesn't mean that it is legal tender

yes. we know. we are attempting to make it one. thanks for your insight.

freetheanimal.com/2017/09/cryptocurrency-nature-modern.html

you mean shilling so hard for fiat

This. Decentralisation is this massive buzzword in cryptos. It's useful, but it's touted as being far more important than it is. There's plenty of disadvantages to it too.

If my credit card is stolen and someone spends a lot of money on it, I can get it back because credit cards are centralised and well regulated. If someone steals my bitcoin it's gone for good. It's like the disadvantages of cash, but online with many more ways to steal. Some gay ass zero day bug in Chrome and some script kiddie can steal my bitcoin, unless i don't have it on my PC and use a hardware wallet like a faggot. Then i hope I don't lose/break that or my entire wallet is gone with all the actual money.

No, I actually shorted on bitmex at 16K5
And the reason I'm arguing against you bag holders isn't because you can't get filthy rich on a worldwide scam by some left behind cypher punks but because you assholes are literally stealing new faggots money through lying like there is no morning you greedy bastards.

You sold the fucking dip. SOLD. THE. FUCKING. DIP.
>24 hr. market cap almost $500 billion b-but it's fake

>satellites are safe from EMPs

Bottom line. Either you support the common man and his fight against the Jew. Or you support the Jew. Easy choice.

This. No one loves bitcoin more than the Jew.

>Decentralisation is this massive buzzword
Decentralisation is all crypto is, it doesn't bring anything else to the table. If you don't understand the value of decentralisation reality will continue to be out of sync with your expectations.

where are the fucking janitors -> /biz/
BTC is NSA you fucking morons, made my millions in 2017, crypto is dead
groups.csail.mit.edu/mac/classes/6.805/articles/money/nsamint/nsamint.htm

Because im all in on a chinkcoin

How is this line on reddit?
>Bottom line. Either you support the common man and his fight against the 1%. Or you support the 1%. Easy choice.
On leftypol probably something along the line
>Bottom line. Either you support the common man and his fight against the capitalist pigs. Or you support the capitalist pigs. Easy choice.
And on a feminist page
>Bottom line. Either you support the common man and his fight against the Patriarchy. Or you support the Patriarchy. Easy choice.

The new generation of crypt shill is really a bunch of uncreative dumpster fucks, Patethic

>decentralized
>controlled
Adolf please

All I know is I can fuck around and day trade with $1k and make enough where I don't have to work. I've been doing this for literally 1 month and made almost $4k this month. You just gotta know when to buy and when to sell. It doesn't matter if the market is up or down just play it right.

Because you can only make it going /all in/ on altcoins.

>I've been doing this for literally 1 month
Not actually very long you know..

>distributed
(actually monopoly by the Chinese do to cheap electricity and corruption and able to fork the chain at will with enough pressure from above)
>decentralised
pick one

lolz @ 7k you lost your ass didn't you? We aren't interested bro

Washington State has super cheap electricity too. A lot of miners are moving here actually.

What makes it so cheap?

>coindesk.com/bitcoiners-finland-send-cryptocurrency-radio/

yes it didn't solve a major problem banks were trying to do for over a decade and then make it FREE or anything like that.

Hydro electric power plus wind farms. It's actually super cheap down by the Oregon border

cointelegraph.com/news/crypto-mining-overloads-infrastructure-in-small-wa-county

...

How can anyone look at pic related and not think "yes, this is definitely based on sound economics!"

People overuse the term "shill" here but you're literally shilling for your dying Jew currency. What's wrong, too many normies pull out of your ponzi scheme after the crash?

>Quoting partisan "news" by hodlers.
That's believable and totally unbiased and based on facts

How cheap?

In my city it's 0.10$ per Kwh
In Irkutsk/ the Electricity cost is something like 0.01$ per KWh

>Bitcoin

MILKY MILKY WARM AND TASTY!

MOMMY! MILKY! PLEASE BE HASTY!

REFRESHING DRINK FROM MOMMY'S UDDERS!

I WANT MOMMY'S AND NO OTHER'S!

GIVE IT! GIVE IT! GIVE IT NOW!

GIVE ME MILKY, LAZY SOW!

UNTIL YOU DO I'LL SCREAM I'LL SHOUT!

I'LL CRY I'LL WHINE AND STOMP ABOUT!

UNTIL MY BELLY IS FULL AND HAPPY!

I REFUSE TO TAKE A NAPPY!

Because cryptocurrencies aren't fully conceptualised. these cryptocurrencies have no value aside from it's mobility and security, it's merely a line of code that we know for certain is genuinely that line of code (and not a duplicate). Any value it has is what we collectively decide to give it that day, meaning that it's only worth 1 dollar, or 300 dollars or 30,000 dollars as long as there is a collective will to make it worth that much.

The gigawatts of energy that get pumped into writing these original-codes-do-not-steals are completely wasted. The hundreds of millions that get spent on technology to write these original-codes-do-not-steal are wasted. If cryptocurrencies could somehow be a store of this energy as potential, that would be remarkable. Until that point however, people are unfortunately chasing a scam.

I can't fully blame them, considering crypto offers people frustrated with the historically low international interest rates something that could grow their investment, however the important take-away is that it isn't actually growing anything, any money derived from crypto is entirely money produced from the actual economy - when you sell a bitcoin or whatever you're essentially just reaching into someone else's pocket and replacing it with an energy sink bullshit code with no value.

block chain is nothing but a _decentralized_ storage with nodes scatter all across the world
there are no "master" nodes controlling a "cluster" or anything like it
the protocol itself is based on a simple trust/distrust model
there is no big red button to shut everything down
only because a ping pong ching chong invented, and got rich of it doesn't mean china controls anything
if a country banned any and all block chain activity over night, implying such a thing would even be possible, the only thing habbening would be that the price surges "to the moon" again as the number of "suppliers" decreased considerably
this wouldn't have any impact on the already circulating coins

As a closing. Something that non of the /biz/ shills is talking about.

The price rise of crypto totally coincidentally falls together with cheap FIAT, and somehow crypto is according to them not tied to the current FIAT economy. I wonder what happens if interests getting a 0.05% rise. Probably nothing and bitcoin goes to 60000000000 Million in the blink of an eye, not

it may be hard to believe and biased. but what makes you think its not based on facts? i mean i could see someone not believing it, especially if they have no idea what the fuck theyre reading.

I prefer to trade with ammunition, gold, silver or wares. Your shitty crypto currency can suck my dick.

Bitcoin is for boomers, women and minorities.

Guess what method of energy transmission radio transmitters use to work.

I’ll give you a hint: it’s a word that is formed by the same root that forms the first word in the acronym EMP ;).

You already got explained here why you are wrong:

>muh forks

ANYONE can fork the chain at any given moment you fucktard. In fact there are now tons of altcoins that came out of Bitcoin. Bitcoin holders get coins on any given fork, therefore these forks will always have a sell pressure, solving the fork economicaly and forcing miners back to the real Bitcoin.
Satoshi created a perfect game theory war machine.

with that thinking. the true value of bitcoin is the (((massive))) amount of energy used to secure the system. it already is storing that energy as potential. economic potential.

>/biz/ kids are mostly talking bullshit
>color me fucking surprised
the worth of FIAT has a direct impact on BTC
just like the worth of BTC has a direct impact on any other altcoin
its what makes trading crypto currency viable

The only problem crypto has solved so far is decentralising authority and none of them do anything for free. Smart contracts and all the other bells and whistles only have value if the authority behind them is decentralised. If you ignore decentralisation every single one of the features altcoins hype are easy to implement but no one would trust the implementations and rightly so.

You only need one person to maintain a backup of the blockchain in a faraday cage to rebuild. Lot's of backups won't be affected.

>decentralized uncensorable money backed by the biggest network in the world and the smartest minds on cryptography has no value
consider suicide

No.

If you turn a bunch of fans on in a room, and then leave for 10 years, you do not return to find a room that has miraculously been plated with 24 carat gold. Having lots of original-codes-do-not-steals doesn't give the system more potential, it's just a tragic waste of resources.

good luck constantly dropping EMP's everytime someone cobbles together a fucking radio from junk and starting the blockchad bitmachine up again.

>it already is storing that energy as potential. economic potential.
LOL wat

Nice way to make copers trying to delusionally stop bitcoin bankrupt. The fucktards would spend all their money on EMPs for nothing.

No, it has no value. It's extreme volatility is due to the fact that there is nothing backing it's value. You are riding a colossal bubble fuelled by greed my friend.

There is no such thing as a private sale on the decentralized blockchain. Fuck that.

It's an effective way of transferring wealth from minorities, house wifes and gullible lower-middle class people to the jews.

The price of gold is purely speculative, not a reflection of its actual usefulness as a material. If people decided to stop speculating on gold, its price would probably plummet 90%. There's nothing more inherently valuable about gold than any other commodity. In fact, it's probably one of the more useless commodities.

>our currency that has to have constant backups cobbled together by scraps by who knows who that is at danger of collapsing from any manmade or natural EMP will surely replace the historical currency of a tangible and resilient good that is not liable to disappearing and being “restored” in good faith by someone else

Wtf I’m drooling like a retard for bitcoins now!

because bitcoin is a jewish invention

Money is an abstraction, breh. Crypto is better suited to be money than anything else in existence including gold. Gold is heavy as shit, can't transact with it globally, and the government will take it from you.

As far as crypto currencies go, bitcoin is unusually bad, especially with it's tiny market cap.

I'm all for the future, but there will be other digital currencies to ride that better anticipate demand and functionality.

I don't quite understand how those copper coins worth more than USD 10k but I stack them too, can't afford to miss the train

Bye bye smartphones and LCD TVs. If there were no speculators, people would stop trading unbacked gold certificates and real physical gold will skyrocket.

>real money

With gold you might have an argument, but anyone on Sup Forums supporting (((central banking))) needs to seriously reevaluate themselves.

>There's nothing more inherently valuable about gold than any other commodity.
It does have very specific properties that make it a good store of value.

One of those is some script kiddie can't produce an "alt-gold" with the same properties but some improved in some way.

I believe crypto is pretty damned useful in many ways, but not Bitcoin specifically.

You can speculate with real gold too.

>If you turn a bunch of fans on in a room, and then leave for 10 years, you do not return to find a room that has miraculously been plated with 24 carat gold.
no but if you turn a bunch of bitcoin miners on and do the same thing, you will find the equivalent of gold.

Speculating on gold is not equivalent to speculating on the gold market, which is literally 99% paper and 1% physical gold.

>entire societal collapse due to permanent power and internet loss
>thinks he can still use his bank account
>thinks people will be interested in his shiny metal when they're hungry

Water, food, medicine, guns, or fuck off.

Didn't say it was

why is this still here? this belongs in /biz/ wtf

The block-chain is definitely useful and has a variety of potential applications, the crypto side is unfortunately a flawed execution of the technology and has outlived it's purpose, unfortunately there's too much money wound up in the speculation game for it to die gracefully now though.

Because those that run first into a battle are generally the first ones slaughtered. I love the idea of blockchain, especially for the coming machine to machine payment infrastructure, BUT Bitcoin's use of the blockchain is much too slow & expensive for any larger scalability. Plenty of other coins that look to take advantage of Bitcoins inherent disadvantage, such as IOTA (partnered with Microsoft, Samsung, Cisco). Wanna know how they still cuck you though? The only way to buy your shitcoins on the major platforms is to exchange dollars to BTC to your shitcoin so you're almost always restricted right now by BTC's performance. I'm a statistician/tech specialist, not a finance guy, but when every single asset you can purchase is inherently non diversifiable by sale of the medium of exchange you're gambling on the future, not investing on the future. There will be MANY blockchain applications, but Bitcoin is probably Xerox before Apple stole the GUI and made it the greatest technological invention of its kind.