In order to truly kill cryptocurrency, a group must kill all the hope of crypto. People sell, people buy...

In order to truly kill cryptocurrency, a group must kill all the hope of crypto. People sell, people buy, but the trick is to make everyone want to sell, and no one want to buy. So how do we do this? In 2008 everyone sold homes but no one wanted to buy because they were too expensive, so how do we do this with cryptocurrencies? How do we make them totally unsavory to buy?

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en.wikipedia.org/wiki/List_of_bank_runs
en.wikipedia.org/wiki/Fear,_uncertainty_and_doubt
twitter.com/AnonBabble

>to truly kill cryptocurrency
It's not going away, OP, stop being a faggot for once.

It's already going up, all you faggot shills calling it ponzi scheme can lick my sweaty balls now.

more like a few people bought it after the fall. now someone needs to step in and prove it's not bulletproof

People will only buy now since it's going up

>all 'profit' from investing in crypto must come from money others later spend to invest in the same coin (by buying yours off of you)
how is this not a ponzi

It's not a ponzi scheme because nobody anywhere guaranteed you any kind of return. If you buy a bitcoin or whatever because you think it's going up, that's on you. For it to be a Ponzi, there has to be a ring leader somewhere duping you into this thing. Last I heard Nakamoto went incognito so you can stick your shit up your ass.
Now you've been told. I suggest you off yourself lest it happen again.

I think I'll finally build a mining rig with the money I'll get now when the prices gets back up.
Must feel great to be part of cryptocurrency "movement", earn something by running calculations on a high spec custom built computer and as a bonus make the Sup Forumstards on this board angry.

I honestly only need fiat money to pay my debts. After that? Ill gladly take the crypto ball bag on my nose.

A high spec computer will earn you like $2 a day, running non-stop. Have fun.

at least nicehash pinky promised to not exit scam with everyone's money a second time, so you can be sure you'll get your payout

psst im gonna let you in on a little secret:

the current state of cryptocurrency is even dumber than a ponzi scheme, because no one is actually putting realass money into the exchanges. exchange buys that everyone think are being made with USD is in fact being made with a cryptocoin called "tether", under the assurance by its creators that for every tether minted, there's $1USD being held """somewhere""". currently, there's something like 1.8 billion tethers minted so far.

(ps: tether is created out of thin air by the guys that also run binfinex, the biggest of the crypto exchanges. there's no money backing the tethers price on the exchange, and its near impossible to exchange a tether for real money)

so it's in fact a ponzi scheme being fed money that doesn't actually exist

And whenever the price of bitcoin drops they pull a few tens of millions of tether out of thin air to buy bitcoin and thus pump up the price with.

ding ding ding! give this man a can of coke!

so yeah op don't worry about having to kill cryptocoins for the sake of cheap cards, cryptocoins will kill itself soon enough

it will never happen

you can buy so little of a crypto that people will always be able to throw 20 bucks into one and get their .00001 worth

you cant buy .00001 worth of a house

psst im gonna let YOU in on a little secret:

Do you think 100% of the money in the world is backed up by gold or something?
You think stocks are always an adequate representation of the true value of it's company?

Fact of the matter all money realted things are more or less imaginary units. You don't work for some slices of bread, but you trust the banks that they will give you your money if you ask them to do so.

>en.wikipedia.org/wiki/List_of_bank_runs

yes literal fraud and lying to your users claiming to have reserves of USD when you can't even find a bank willing to work with you is exactly the same as fractional reserve banking

ok great we've discovered that the true value of money is tied to the goods and services that people are willing to exchange for it, not it's price as a speculative commodity vs. a lump of gold sitting in a vault somewhere

i can walk out the door of my house (mortgage paid in USD), walk down the street (paid for and maintained by taxes, paid in USD), walk into a Circle K (space lease in USD) and buy a bad cup of coffee for $1 USD

what will someone give me for a tether? or a bitcoin?

and yeah im going to trust a bank to give me my money, because they do, over some crypto exchange, because they won't

You can buy literally anything on Newegg with it, purse.io lets you buy things off Amazon with it, you can pay your bills in Australia with it.

>Australia
don't live in that dump
>purse.io
put money into a crypto exchange to buy bitcoin to put in escrow to some dude who will buy shit on amazon for me, or buy shit on amazon with money i already have?
>newegg
i have a credit card it works pretty well

Now the question is, how many actually uses bitcoin as currency?

>buy a 20$ part
>spend a 30$ fee
>wait about 1 week for the transaction to pass

steam already gave up on it KEK

Way to miss the point..

If you actually read that link, Banks indeed don't always give you your money. Similar to crypto currencies our fiscal system only works, because people believe it works.


And similar to the banking system it takes a while to work properly. Banks had a few hundred years until it worked fine, don't you think we should give crypto currencies a few years to work properly?

i'm not convinced that a handful of manic bank runs listed on a wikipedia page is the death knell for the world economy as we know it. if money stops working tomorrow, we've got bigger problems than our bank account balance

>give crypto currencies a few years to work properly
sure, in several years when crypto currencies finally work properly, and is accepted at circle k, i'll think about using them. but i've got bills to pay in the meantime, and they all take real money

Entropy

Banks invest money into business.
Miners waste energy on a giant lottery in attempt at emission of extra currency to themselves.
Exchanges simply play on volatility while forcefully advertising the ponzi scheme. They are different from real currency exchanges though because they keep real money to themselves and will pull out and go bankrupt leaving you nothing (ex. mtGox)
I fail to see how they are similar.

I trust a system that's well established, that the government tells me it's worth something. Sure be an anarchist and talk about how the government will fall in

and shit if china steamrolls us in 10 years and i'm not rotting in a mass grave i'll just use the yuan or whatever

You are some dense ones, aren't ya?

You see, the world is not just black and white.
Of course crypto currencies are not as safe as a fedareal banking system. It's more similar to stock exchange.
Or to put it like this: higher risk, higher reward.

It would be stupid to put all your money into one cryptocurrency. But if you have some side money and want to make profits, crypto currencies a good alternative to stock excahnge (mind that you can also lose all your money with "traditional" trading).

But the point is that crypto currencies are more or less free from regulation by governments. That's why it pisses them off so much and that's why we should support it in the first place. Some people will always only jump on the bandwagon when it's more reliable and taht's OK. Less risk, less reward.

But I do like the vision of crypto currencies and it won't just go away, no matter how hard some bankers hope for it.

i'm not much of a gambler, but if i were, i'd do it at a casino, where they will exchange my chips back to dollars. been hearing crypto exchanges are having problem with USD withdrawals

That's exactly what people are telling you. It's not real currency, it's an speculative object, a ponzi scheme.

51%

>been hearing crypto exchanges are having problem with USD withdrawals

See:
>en.wikipedia.org/wiki/Fear,_uncertainty_and_doubt


Only if all stocks are a ponzi scheme.
Which is not the meaning of the word "ponzi scheme".

God damn it, you don't want to buy crypto coins? Leave it!
But stop annoying everyone here.

I wish I bought Bitcoin when it was cheap then I would be rich now. But at least I am not a hater faggot like OP.

sooo have you been able to exchange any of your coin holdings to fiat dollars and successfully withdraw it into a real bank account? recently? give it a try right now to make sure you still can :)

I'm not annoying anybody. Sorry if I'm interrupting your ponzi scheme promotion though but I intend to do so in future too.
>Less risk, less reward.
You don't even support crypto currencies. What you really care about is how much real cash can you grab from newcomers. There is no reward in storing funds in currencies. It only leads to stagnation. Currencies are mediums of exchange. Yet you only promote "cryptocurrencies" as high risk investment. You are harming economy and investors.

One of the biggest requirements for currency is that it's not extremely volatile. That's something a single cryptocurrency can claim. When I have a dollar I know that it will be worth the same tomorrow and the day after that and even two weeks or a month from now. And I also know that it has slight inflation so a year from now it might only be worth 98 cents compared to current situation. If something can be up 30% in a day and down 40% the next day it won't work as a currency at all.

Go back to your containment board then.

nice quints user

LOL, you have no idea what the fuck you are talking about.

Cryptocurrencies are nothing like the stocks. Buying a stock is buying ownership in a company, and that ownership entitles you to it's profits and appreciation in value. With a crypto you don't actually own anything of value. The closest analogy to "investing" in cryptocurrencies is going to the casino and gambling with the money.

Being free from regulation isn't a good thing either. It means that few big players can completely determine the market and anyone who is a small player is in just for the ride. In an instrument that has no intrinsic value at all that means that they can and will do anything they want.

> t. astroturfing fearmonger


Look, faglet.
One last time:

Ponzi scheme means one person gets a lot of money without intentions of giving it back at all.
Crypto coins are there for transactions. It's a circle of trust instead of one person hoarding all money. Of course it's only ever as creditible as the people running the coins. There have been some black shepe in the past, especially when we talk about shady businesses. But if you really think this is the standard than you should never invest any money anywhere because "ooh, the of the Lehman Brothers did fail in the past - who might fail in the future?"


Fear is never a good advisor. You should base your decision on facts, especially when it comes to money.

C H E C K E D

soooo are you able to cash out or not? :)

> Buying a stock is buying ownership in a company

Hahaha, maybe in the 19th century?
The excahnge market is all about expectations. You get money if you bet that one company loses money and they really lose it. You get money if you sell overrated companies and buy underrated companies. It's all about psychology. Nothing of this is real.

And that's not some weirdos I'm talking about, it's the very foundation of our financial system. It's the daily business of what banks are doing with your money..

So stop giving me this "poor but honest farmer boy" bullshit. Crypto currencies are more reliable than many other things you can legally trade on the stock exchange.

But why am I even preaching here.
Have fun with your fear campaign, no one will buy your bullshit.

because if the *fact* ends up being "exchanges are fucked, you can't withdraw USD", then my *decision* is going to be "don't fuck with buttcoins". that would be a reasonable *decision* to not lose all my *money*, right

Yes I am. But I don't see how this question even makes sense, since this is the internet. Next you will start to beg for bitcoins "to prove it", won't you?

>no one will buy your bullshit
T. Buttcoiner

i dont want your shitty unsellable coins

I *don't* even "know" what *you* are trying to *to* "say" **here**.

But let me get this straight:
Instead of not buying coings (because you don't want to) you somehow think it's your holy mission to destroy the EVIL DEEDS of the CRYPTO CONSPIRANCY who are trying to scam all those hard-working guys that get LURED into the darnkess of crypto coins?
You surely do god's work, son.

when was the last time you've cashed out any of your crypto holdings? as in, sitting in a federally insured bank account and not as a balance on some exchange?

Online banking is a thing, you know?

>When I have a dollar I know that it will be worth the same tomorrow and the day after that and even two weeks or a month from now.
It's actually not true. Inflation is required for economical growth. Last time US dollar didn't inflate it caused Great Depression in US. When currency doesn't inflate instead of investing in business people invest in currency (like they now invest in shitcoins).

Who on this pic is you, OP?

But the inflation isn't 20% in a day though.

Every YellenCoin that you hold instead of Bitcoin is causing you loss of purchasing power.

a dollar balance on a crypto exchange is not online banking. its casino chips sitting on a craps table

>It means that few big players can completely determine the market and anyone who is a small player is in just for the ride. In an instrument that has no intrinsic value at all that means that they can and will do anything they want.

So you mean like every ((((regulated market)))) ever.

bitcoin is the star citizen of money

>Muh bubble

So I have 137 bitcoins I got back in 2009.
How would I go about selling them for real money?

good fucking luck

all they need to do is ban it in most countries. its an instant 99% value drop if that happens.. just look how it drops every time when someone talks about banning it somewhere.

honestly sit on them just in case they truly become the future of money 20 years down the line or whenever. don't try to navigate the exchanges, you WILL get fleeced

>you can't cash out

sure thing, pal.

nice, is that yours? or "some guy"?

You know absolutely nothing and are completely retarded

I dunno, I could really use some money right now. Even if I just sell five or so of them and get close to market value I'd be pretty happy.

well you could try i guess with a small amount of what you have. just expect to lose it, i wouldn't trust any of those fuckers to cash you out

Alright. Here's hoping I can find at least one decent buyer.

I use bitpay pretty much every day so technically I cashed out the last time about 3 hours ago to get some milk.

Stocks still signify ownership, including voting rights in the company affairs. As a small private investor your vote probably doesn't matter but you still have it.

In the stock market you get money if you short a company that's stock goes down. You get money if you long a stock that goes up or one that pays dividends. And the stock values don't just go up and down arbitrarily. They go up and down based on how the company has performed and what are their expected performance in the future.

Except there is punishment for doing that in regulated markets. It won't stop everyone but it does limit the extent to how prevelant it is.

You would've noticed the mention about inflation if you had read the entire fucking post.

Stop posting this. It's embarrassing. Instituitional investing hasn't even started yet. Bitcoin has a long way to go before any burst

buying energy company stock might be a better idea then

>institutional investors
>buttcoin
Institutional investors won't touch bitcoin before it is well regulated. If stock market like regulations are instituted to cryptoes they will plummet as we've seen them crash even from minimal speculations about regulation.

>what will someone give me for a tether? or a bitcoin?
Someone will give you $11,000 USD for one bitcoin

right now

>can't be turned off because it is decentralized
>development can't be stopped because it's open source
>premine is tiny at 5% and hasn't been sold
>doesn't guarantee returns
>high risk
the only thing that is close to being a ponzi in crypto is centralized exchanges as they can exit scam. Fortunately 2018 will be the year of decentralized exchanges and atomic swaps

>It's a circle of trust instead of one person hoarding all money.
Nope, nobody even use real wallets because bitcoin is shitty cryptocurrency with slow transactions and insanely long blockchain. Exchange is the holder of money.
Oh and btw I never said you can't win in a gamble. I only said you are not supporting cryptocurrencies but only shill for a ponzi scheme built around it.

Mad poorfag nocoiner detected

but my imaginary units are backed by the military

>t. central bank kike

>kek
Go back.

Bitcoin is backed by state issued currency. This is what we're saying when we say bitcoin is worth this much money. Without state issued currency bitcoin would break, so it's not freeing you from ties.

Tether sounds like a good idea, but the idea that digital 1 or 0 equalling a currency is nothing revolutionary and doesnt allow you to cash out. banks and paypal issue 1`s and 0`s. The big leap here is decentralization and lack of oversight.

Crypto analogy to the stock market is buying stock in nothing. mining is a tool used to control the supply of this nothing. However even this breaks down by Altcoins, Since a new altcoin allows the introduction of a new nothing.

>moving the goalpost

Please just kill yourself

Fuck off Sup Forums

Essentially this is right, but it is not backed by private exchanges. If an exchange was to fall/unable to pay (for instance if too many people cash out at once) then things could spiral out of control with people at other exchanges trying to cash out in time.

>saying that australia is a dumb country and real money works better than bitcoin for buying shit online is "moving the goalposts"

guys lets convince everyone that gold is just some worthless shiny bullshit

Despite Tether being a scam it's printing is minimal compared to total market capitalization, and there's plenty of exchanges out there that deal with real fiat

Yes, I cashed out my principal in October to build a new PC and buy some chinkpads

>everyone sold homes but no one wanted to buy because they were too expensive
They can't sell if no ones buying. The fact they were selling means people were buying. If you're talking about the bubble burst that was where people were being foreclosed on properties that were now worthless

CME disagrees with you

Just go to Coinbase and open an account there, it's pretty shit but it works