It's over

It's over

Get out NOW

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I have no idea what this thread is about

This thread belong tho /biz/

I'm black irl and what is this?

I'm 12 and what is this

>he doesn't buy the dip

You've been telling us that for the last 5 years.

Imagine if it never bursts and we're all still sitting around, telling yourself not to invest 20 years from now because "it's gonna burst". Yet it just keeps going up by 2000% every month and somehow takes over the world economy, making all other currencies useless.

Reminder that the only reason for anyone to buy bitcoin is to hope to sell it later at a higher price.

It is bad as a currency, because it is too volatile and it’s valie fluctuates too much.

It is bad as a store of wealth also because it is too volatile.

It’s literally a pyramid scheme. 100% of the demand is people buying in the hope that more people will buy after them.

I have a better graph for you Sup Forums

1 satoshi was deposited to your coinbase wallet

sell it to me

When I find a currency that lets me buy a sandwich off of my mates via a phone app and nobody else sees the transaction... then crypto is here.

Otherwise its just gambling

By the time you will find it we will be on the moon riding lambos. Stay poor nocoiner.

Might be right. But surely the purpose of a currency is as a medium of exchange?

Buying money to make money is confusing when you apply it to normal currencies. It makes my head hurt when its applied to "how much work does it take to divide a pair of prime numbers"

Wtf? I love buttcoin now!

> he doesn't be illegal drugs and cp online

I hope this thing crashes soon and people do something productive instead of trying to make money by wasting electricity.

No.
Gentoo has not reached it's peak yet.

I still don't understand what bitcoin is. It's just another stock, right? Except it's completely useless and backed by nothing? It's made from fucking wasted electricity or some shit?

>the virgin cycle

BTC wallstreet will pump to 20k-30k and then wallstreet will dump it.

Yeah... you nailed it well done champ.

Dapps are the true use of blockchain.
Verification and trust.
Time is ripe for decentralized internet.
Quit investing in crypto and set up a full node instead. So you can rent out computing power, memory or disk space and probably bandwidth, or just participating in a "trusted decentralized network"

Crypto wont be viable as a currency until it gets attached to commodities like wheat,apples,steel, and coal.
They think they will legitimize it by attaching it to gold or USD.
But thats wrong, currency was first used to trade commodities, and not luxury uems like gold or diamonds.

This is an article about bankers trading bitcoin back in April 2012 when BTC was less than $15: archive.is/rd8x2

I remember that GS&Co were credited for the first big boom at around $200 in the end of 2013

Basically yeah, wasted electricity and wasted CPU/GPU time.

Forex is a platorm of geopolitical financial warfare.

The crypto market exists just to prop up an legitimize bitcoin and etherium. Since alot of coins and tokens run on etherium i think it was to help sustain etherium. At least at this stage, since the only thing you can do with crypto now is just trade on exchanges. But its still mainly a speculative market becuase many tokens and coins are based off of platforms that are mostly in beta and pre alpha stages. Will have to see what tech these cryptostartups will actually offer us.

Invest in energy sector and isp's.

can you setup a node on a raspberry pi?

I think theres videos that mention using an arduino or pi.

HODL

>making all other currencies useless
Yeah, enjoy your $25 transactions that get processed 2 days. Cryptocurrencies are the future, definitely, but not bitcoin, it's a fucking proof of concept, why the fuck do you retards give it value?

ITS ABOUT BITCOIN YOU CUNT!!

The retards are the ones buying into btc right now.
But those people are buying from idiots from last year.

If a whale starts out as a miner or becomes a miner all they have to do it have two wallets and just set up a bot that trades between the two.
You bump up the price and you recoup some of your own transaction fees.

Anything that continuously increases in value is actually pretty worthless as a currency.

We already have transactions that others can't see; it's called cash. You can also get anonymous prepaid credit cards.

it't not a fucking bubble you mongoloid. The way bitcoin increases value is by false scarcity and the amount of resources needed to mine it. There are about 21 million of the coin in existence, and currently we are sitting somewhere around 16.7m mined. The thing about bitcoin is the algorithm becomes increasingly more difficult to crack, ergo needed more compute resources to mine it. Bitcoin is both a real and a false scarcity, real as in there's a finite amount of them available in the world. The false scarcity side comes from the coin's difficulty to mine. As it becomes more difficult the current value per coin grows damn near exponentially because people are holding onto their coins for that massive return while the miners are struggling to churn out as many as before.

I'll make it a more understandable analogy. Imagine there's a company that makes X product, however they only make so much inventory and the inventory is unchanging, there will never be any more made. However the cost to obtain X increases per every one purchase (mine), People hold onto their X because of the increasing resale value, this couple with a finite inventory will create a false scarcity "bubble" (no closer term exists).

However when the last coin is mined, or we have sub 500,000 left the "bubble" will pop, not because the coin loses any value (as it is fiat money and has no real value), but because investors will see this is the peak of the wave and will begin to sell off the coin to reap their earnings. This wills cause a chain of mass selling and undercutting which can be identified as a bubble.

In essence, it will not pop for a foreseeable future. However it will become a mudslide upon reaching end of life (end of mining really)

also this means that you could in theory short Bitcoin. Albeit it is Extremely risky. Although the burden of seeing the end will be far from our lifetimes, its believed that the last one will be mined sometime around 2140.

Couldnt you solve the scarcity issue by making the cryptocurrency divisible?

And mining is just the main incentive for miners right now. Once btc is all mined up they will still need to have a bunch of nodes to verify the blockchain/transaction history.
Not to mention all these forks they talk about.
Once all the bitcon is mined thats when anyone can participate in the blockchain. Instead of all the whales with enough resources to actually do the endgame mining.