BUT I THOUGHT MUH BUTTCOIN EXCHANGES WERE SAFE

BUT I THOUGHT MUH BUTTCOIN EXCHANGES WERE SAFE.

SOMEONE GIVE MY MONEY BACK.

FDIC, PLS HELP ME, FDIC PLSSSS.

Other urls found in this thread:

coinmarketcap.com/currencies/bitconnect/
techcrunch.com/2018/01/15/researchers-finds-that-one-person-likely-drove-bitcoin-from-150-to-1000/
bloomberg.com/news/articles/2018-01-16/bofa-tops-ibm-and-payments-firms-with-most-blockchain-patents
yegor256.com/2017/08/15/bitcoin-pyramid.html
money.cnn.com/2013/09/18/news/economy/financial-crisis-suicide/index.html
en.wikipedia.org/wiki/Intrinsic_theory_of_value
en.wikipedia.org/wiki/Intrinsic_value_(finance)
investopedia.com/terms/i/intrinsicvalue.asp
youtube.com/watch?v=cUUcu6s5rJE
youtube.com/watch?v=DWgZLgqvsZQ
reddit.com/r/CryptoCurrency/comments/7qvofe/youre_being_manipulated_by_fake_news_start_taking/
twitter.com/NSFWRedditGif

>/biz/

BCC was not an exchange

It was one of the most blatant ponzis that's been getting called out for months - it was common knowledge that as soon as BTC price would drop they would go insolvent and exit scam every investor and now they have

BTFO

WTF GUISE????

That better be bait

BUT YOU TOLD ME I WOULD BE RICH

Of course, cryptocucks are known for their remarkable financial literacy; there has yet to be one single cryptocuck who is not a millionaire by now, or who has ever had any losses.

If the idea of cryptocurrency is decentralized banking or whatever you want to call it, why are there bitcoin exchanges?

>multiple exchanges, owned and controlled by different people
>anyone can start up an exchange
>somehow this is centralization

Lol

Because as it turns out, decentralization sucks, and cryptocurrencies are absolutely worthless by themselves. You NEED fiat currency, especially the US Dollar, to give them value.

Because people who are in it solely for the money has know that centralised banks are the best way to reduce overhead and lower cost of trade.

Their commentary reads like yahoo finance penny stock section. Everyone's making money on the way up and everyone entered in at the lowest price. When it starts crashing, activity is dead quiet because they're necking themselves. Given how arrogant these fucks were and how much energy they wasted and computer resources and they had no intention on stopping, they deserve every drop this shit takes to zero.

WHEN WILL NIGGERS LEARN?
DONT INVEST MONEY YOU CAN'T AFFORD TO LOSE
ESPECIALLY IN PONZI SCHEMES

Sadly, this meme might be far from over yet. I WISH they'd kill themselves already, because I want to buy a fucking GPU at a sane price.

But meh. Meanwhile I still haven't had any loss in my soy futures.

Fucking thanks, soyboys. They're probably the same faggots playing with fairycoins.

Can anyone tell me what's going on? Bconnect is basically an exchange right? So people gave them cash for btc but now everyone wanted out so they shut it dowj cause they don't have the funds to back it up? Instead people are given their btc instead within unknown amount of time?

It's not even close to being over yet unfortunately. There's a very very large chance that the crypto shit market is going to bounce back once again with all the Jew money buying in nice and cheap.

coinmarketcap.com/currencies/bitconnect/

$29,42 USD (-88.42%)

wew lad

>tfw witnessing modern era equivalent of 1929 crash except only people who lose are idiots who fell for bitcoin meme

It is.

There are multiple banks aren't there?

>took a $1 million dollar loan 2 months ago
>invested it all in bitcoin
>was planning on letting it grow to $2 million before cashing out
>now this happens
FUCK FUCK FUCK DO I SELL MY BITCOINS NOW WITH A LOSS OR WAIT HOPING IT WILL RECOVER

Bitcoin itself has lost another 25% and a lot of other currencies are sharply down.

Is this the beginning of the end?

So if Bitcoin transactions are fully traceable, how does someone convert dirty coins into clean cash, without revealing their identity?

Bitcoin has crashed and rebounded so many times. It'll probably be 100k by the end of 2018.

>took a loan
>invested
>in bitcoin
You are an utter retard. If you were going to "invest" in bitcoin the only reasonable way to do it was with liquid asset.

You fucked up beyond repair. Bitcoin was struggling to remain stable after the December drop, now it is back to around November levels.

Dunno how anyone thought it was normal that bitcoins value went up from $5000 to $20000 in like 4 fucking months.

Nice larp. No bank gives million dollar loans to NEETs.

Bitcoin has been on a downward trend for the last month.

That's pretty much unprecedented.

The USD is centralized because it is controlled by a central bank, the Federal Reserve. Try again.

BTC the meme: buy low, sell high

TOP FUCKIN KEK
We'll see by tomorrow.
Plebs dont control the spot price .. whales and insiders along with ex-wallstreeters do and they've been loading up on leveraged puts. BOA currently leads in blockchain patents so banks/wallstreets have sucked the IP dry as well. Coinfags were guinea pig beta testers for fiat 2.0 all this time taking all the risk as well as the bag holders of capital equipment. No regulation. No transparency. No ability to check insider trading. No ability to check for price manipulation..

Everyone told these dumb fucks this over and over but greed was too powerful. Now come the articles testifying to what really has been going on :
techcrunch.com/2018/01/15/researchers-finds-that-one-person-likely-drove-bitcoin-from-150-to-1000/

This has always been wallstreet's wet dream : fuck main-street w/ no regulation, accountability, or insurance anonymously and you greedy plebs fell for it. Now that coinfags proofed the viability of this cancer, they're going to destroy the beta test, and go to wallstreet sanctioned alpha. Theyll use the crash of these unregulated ghetto coins to justify formal regulation and financial structuring that favors banks.

Oh and the pimple faced geek w/o a college degree 'behind' ethereum lie many will be absorbed into the financial system and be given so much money that they wont give a fuck about 'le revolution mantra' they pushed on you plebs.

>That's pretty much unprecedented.

Completely untrue. It had a 2 year loss from almost $1000 to $250.

Feels good desu
> It will happen when the weather cools

That's why it's stable and usable as currency, unlike cryptoshit.

No, it's stable because it's usage is tied to all goods and services. Bitcoin's value is tied to it's value to the dollar, one single item.

Imagine if you only used USD to buy graphics cards. It would be just as unstable as bitcoin.

Bitcoin is unstable because A) it's new, B) there is a very limited supply, and C) people don't understand it.

Greed and the chance of making something for nothing blinds plebs desu.
LMFAO
> I bought at $0.00001 BTC
top kek

And also this

In case you haven't noticed. No one's adopting this nigger currency for commerce. It's ran by niggers who show utter disregard for the environment, energy, and precious compute resources. You fucks think society would accept your faggot currency? GTFO.

D) It's a piece of shit that no one asked for
E) Square/Paypal/Cash/etc already exists and conduct billions of dollars of commerce every day for far better fees than banks w/ no nigger tier currency alternative
F) the revolution already occurred. It's called digital e-commerce
G) digital coins are a ponzi scheme

How does one get blockchain patents? Isn't it the very definition of prior art?

>In case you haven't noticed. No one's adopting this nigger currency for commerce. It's ran by niggers who show utter disregard for the environment, energy, and precious compute resources. You fucks think society would accept your faggot currency? GTFO.

What is your definition of a nigger? Bitcoin was invented by a dozen or two dozen bankers. Financial and tech companies are getting into it too. Sounds pretty White, Jewish, and wealthy to me.

Bullshit, read below. Also, fiat currency is backed by debt by states that hoard to prove they can stay solvent.

Currency needs a low, stable rate of inflation to be useful, otherwise it has an incentive to be hoarded, not spent, thus it becomes a commodity for speculation.

Bitcoin is FUNDAMENTALLY useless as a medium of exchange. It will NEVER be currency.

Source sauce :
> bloomberg.com/news/articles/2018-01-16/bofa-tops-ibm-and-payments-firms-with-most-blockchain-patents

Like I said, you guys were just beta testers in fiat 2.0 that will fuck you far more than 1.0. You never listened. It's too late.

> How does one get blockchain patents? Isn't it the very definition of prior art?
You acting as if these scumbags play by the rules and have any decency.. They simply patent the application of it which none of the coinfags ghetto rigging GPUs nore none of the python framework kiddies had the wherewithal to patent.

Exchanges are a Ponzi scheme, retard.
yegor256.com/2017/08/15/bitcoin-pyramid.html

> What is your definition of a nigger?
- Bankers
- Jews
- Financial companies
- Modern tech companies with no regard for the social destruction they cause
- Useful white goys who do their bidding for shekels

You think your skin color precludes you from being a nigger? If the shoe fits, its yours.

Bitcoin is more equivalent to gold. It's a commodity. I agree that it can't, and shouldn't, be used as a state sponsored currency. However, it does work as a currency not owned by any state. It's an excellent way to exchange wealth over the internet.

But crypto currency is the future. It's like the first cars in the 1800s. They're shitty, work in limited situations, but the horse (cash) is stagnant, while the car is evolving and changing rapidly.

Ah, so people more successful than you who are changing the world too fast for your liking. Got it.

>Currency needs a low, stable rate of inflation
Yes. Inflation is the drive to spend money.
You actually convinced me (not the user you replied to btw)

>Bitcoin is more equivalent to gold.
Gold has intrinsic value, no cryptocurrencies does. Gold is limited are extremely costly to create (using particle accelerators to turn lead into gold), they are excellent conductors and have practical applications.

Contrary to what some people still wrongly insist, even shit have intrinsic value for its phosphor content. Cryptocurrencies do not.

>However, it does work as a currency not owned by any state.
It doesn't. Any medium of exchange must be stable and inflationary, not deflationary.

>It's an excellent way to exchange wealth over the internet.
It's absolutely TERRIBLE. Bitcoin is a drop of piss in the ocean compared to fiat currency. It takes weeks to complete transactions at insane prices and the fact that cryptoshit is so unstable makes it a financially bad choice for transferring and storing value.

>But crypto currency is the future. It's like the first cars in the 1800s. They're shitty, work in limited situations, but the horse (cash) is stagnant, while the car is evolving and changing rapidly.

This is basically ">muh new thing is better than ur old thing". And your analogy is terrible. Cryptoshit is like cryptoshit. The only thing comparable to it are tulips.

>bitcoin is more equivalent to gold.
Except its not, because gold has intrinsic value.

> more successful than you
Wew lad. Don't get ahead of yourself and i'm sure your nigger tier measure of success isn't something to be used as a general yardstick.
> changing the world too fast for your liking
The world changed real quick for them today didn't it? Funny how entropy works.
> Got it.
Eventually you will. Today was just a preview of what's to come as its clear coin niggers wont get a single thing until this scam is extinct.

Everyone's a bad ass until a real one comes in the room. Everyone wants to talk about how much they change the world up until the universe responds with equal but opposite change to return things to fundamental order/balance. In the end, it's all vanity.

No it doesn't. It's worth what people will pay for it.

Uh, I think you misunderstand the meaning of intrinsic value.

> mfw I read a coherent post from an user speaking truth that can't be refuted
> mfw rare gems like this appear in a sea or brainlet coinfag drivel

There's no such thing as intrinsic value, you economically-illiterate retard. There's only supply and demand, you brainlet!

Sweet. Can't wait for GPU's to become affordable again. Ebay is going to be rocking a lot of "barely used" RX580 and 1080gtx ti graphics cards real soon.

Wrong.

What's the over/under on the bitcoin death toll? Will it beat the 5000 set by the 2008 crash?

money.cnn.com/2013/09/18/news/economy/financial-crisis-suicide/index.html

See The likelihood that mankind will simply collectively ignore gold as if it were nothing is not even small. It's nonexistent.

But if we imagine this ridiculous scenario where no humans care about gold any more, unless capitalism or any similar economic system (including bartering) has stopped existing as well, Gold will at the very least be worth as much as copper, both of which are useful for similar purposes.

Cryptocurrencies have zero practical purposes. Zero. Thus why they have no intrinsic value.

> trust hackers and drug dealers into meme coins to handle your money

you deserved this

Ignoring all the practical uses gold has in conductors etc, it will always be shiny. Unless humans suddenly stop liking shiny things, then gold will always have intrinsic value.

Bitcoin has nothing, and never will.

...

> A basic tenant of economics doesn't exist
Brainlets who've never done a course in their life on economics actually believe this.
> mfw youtube videos and coinfag forums pollute someone's mind this much.

en.wikipedia.org/wiki/Intrinsic_theory_of_value
en.wikipedia.org/wiki/Intrinsic_value_(finance)
In finance, intrinsic value refers to the value of a company, stock, currency or product determined through fundamental analysis without reference to its market value.[1] It is also frequently called fundamental value. It is ordinarily calculated by summing the discounted future income generated by the asset to obtain the present value. It is worthy to note that this term may have different meanings for different assets.
> without reference to its market value.
> without reference to its market value.
Meaning, having nothing to do w/ supply&demand found in a marketplace but rather fundamental utility

investopedia.com/terms/i/intrinsicvalue.asp
Something lost on you new age cucks as no one does value investing anymore. It's all based on hype, hope, and hope premiums regarding things that never materialize.

youtube.com/watch?v=cUUcu6s5rJE

Bitcoin tumbler

>send bitcoin
>pay small fee
>receive bitcoin back

Good question.

No honor among thieves. Who'd of thought..
HAHHAHAHA

lined up to show IDs? For what? Why would anyone do that?

ironically the drug dealers were probably helping stabilize the bitcoin market, since it was an actual exchange of currency for goods/services with intrinsic value (regardless of legality). Now its just a runaway ponzi scheme essentially (lol@anyone who had money in BCC), with nobody using the currency as actual currency and just trying to get rich quick.

Philosophically, yes.

But the financial world doesn't give a shit about philosophy that have no usefulness in the market.

So, contrary to your non-sense, economically, there IS intrinsic value. It's in the fact that there will always be demand in some thing (eg. Gold, cow shit, iron, your mom's pussy, etc.)

Keynesians pls leave.

>hahaha the bubble is finally popping! bitcoiners btfo!

said nocoiners for the 1000th time this year

bitcoin is simply on sale, you too can still buy in and get rich if you want

Gold will never be worth as much as copper you fucking idiot, there's a fuckton less of it. Sure its definitely overvalued, but if it was as common as copper it would be worth exponentially less

Nothing wrong with crypto generally.
Just a problem when people invest in cryptos that are utter shit. Bitcoin was good conceptually, but stupid fuckers thought (((Core/Blockstream))) was being sensible and not malicious when they refused to up the blocksize because they didn't make an effort to understand the tech and just saw easy $$.

JUST

BCC is literally a ponzi scheme scamming people out of money and refusing to let them sell claiming a ddos attack. Next thing they will say "lol we got hacked, sorry" and run off into the sunset with hundreds of millions/billions of dollars

Even then gold is overpriced because we believe it to be so. The only worthwhile thing CCs have is anonymity, but that's soiled by the retarded transactions and fluctuations of the currency.

>hurr durr lets make a decentralized currency that can't inflate, without any backing whatsoever aside from belief

no you don't understand, the whole crypto market is crashing right now it's not just about the BCC scam

what am i looking at hear?

Well, fucking idiot, then learn to read. I'm explaining what would happen in an absurd and impossible scenario in response to the drivel I quoted. IRL it would be worth more even if there were as much gold as copper for the mere fact it's shiny and pretty.

"no"

This is the cryptocurrency youtuber "Trevon James" who invested tons in BCC. It's probably his final stream before he necks himself because he put tons in crypto and convinced so many others.

>get rich
Post proof of your bank statements. Oh wait, you are a shitposting autismo

Oh I do understand that its crashing right now, but realistically that's happened before and will probably happen again. A major bitcoin service being outed a scam is infinitely more detrimental than a drop or crash. People will be lining up to sell in droves, because who knows if other sites/services are scams or not?

Maybe getting the regular people who don't really understand crypto-currency principles and are just looking at it like a stock will be better long term, but regaining trust will be next to impossible. as it stands right now bitcoin will NEVER EVER be an accepted, mainstream form of currency. The decentralized currency dream is dead

>cryptonigger so retarded he buys BCC live on stream

The fuck? 2000 BTCs? Thats like over $20million.

Why is he sad?

youtube.com/watch?v=DWgZLgqvsZQ

Who else didn't lose 10k+ today ?

Read again you dingus. 2,000 BCC, not BTC

lol is he crying?

...

2000 BCC. That's like $0 right now

Me, because I am holding my bitcoin for at least 2 more years

My bad boys.

Still.... $60k. Just sell.

> Actually has formal education and knows what he's talking about
> Keynesians
The absolute state of a brainlet

Dont be an idiot. Just about a day ago, BCC was between $250-$300. I want you to guess how much money someone lost if they bought 24+ hours ago.

I'm sure grandma was convinced of this and this wasn't OPs reddit post lel

You guys know it's an artificial crash right, by the handful of people who control almost all of the supply?

Sweet sweet karma

reddit.com/r/CryptoCurrency/comments/7qvofe/youre_being_manipulated_by_fake_news_start_taking/

this level of damage control is absolutely fucking hilarious

Watch as the Sup Forumskiddies go nuts.