Tell me again how this shit isn’t some high tech scam that’s about to pop and fuck over all the fools that bought...

Tell me again how this shit isn’t some high tech scam that’s about to pop and fuck over all the fools that bought into this slow burn grift.

its gonna crash. and when it does, its going to be spectacular

People that bought it already sold it and made a ton.

It was a high tech scam from day one. Someone literally said "I wrote a program that generates money" and it somehow wasn't illegal.

I could go into the intricacies of cryptocurrencies and the value of decentralization but then I'd be remiss if I didn't go into the basis of economics and how currencies evolve in the first place, and eventually it all boils down to one commonality:

A currency which is reproducible is worthless as a currency, and a product which doesn't provide inherent value is worthless as an economic output.

At the end of the day, bitcoins are useless. They're only valued by idiots who think they can sell them to bigger idiots for a profit.

It WILL crash, it's just a matter of when. I thought it'd crash this last year, but the idiocy of humans knows no bound. Just Google the South Sea Bubble or the Tulip Bubble if you need further proof that people are stupid.

Unless you want to blow a few dollars gambling, ignore bitcoin and keep on living life.

it already crashed at the end of 2013

Op here, well aware. I’m just literally amazed at this point just how far people are letting this get. I mean we’re on the cusp of $12k usd shares. It literally blows my mind people are putting this much value into an imaginary goldmine.

A major dip in value, but not a total crash. The fact it still exists is proof it hasn’t truly crashed yet.

Bitcoin will die eventually. Bitcoin Cash or Litecoin are better.

Ethereum is the future.

The value of something is based on belief. Same for everything else in existence.

Anyone who isn't investing 5-10% of their income into cyrptos is a moron. The gold standard is a thing of the past my friend. Amazon is currently adopting cryptos for God's sake. You think that the monolith called Amazon would buy into a bubble? Have some intelligence op.

One of biggest regrets was not buying up a bunch of this crap when I heard about it in 2009-2010. I heard about it through this website but thought it would just be worthless internet money to buy guns, drugs, and cp. My best advice is if you have any Bitcoin right now is to sell it off. Eventually the government is gonna try and crack down on it.I would recommend keeping it but that would be the direct competitor (government issued currency) keeps tanking. But the USD has been steadily increasing in value over the last few years. I still think buying Gold is the best option for the long term

None of them solves the scalability issues of any blockchain system. You cannot support millions or even billions of transactions which take place every day with conventional currencies.

Do you even understand how the block chain functions?

It's just as real as actual money just in a different form. If you think it could collapse any minute then you also must think the dollar will collapse any minute.

/Thread

Not on an individual person to person physical form, but when the vast majority of money is held in banks and transactions are from one account to another then it's no different than digital currency.

Muhhhh tulips fags get btfo late adopter's btfo shills btfo all you had to do was listen fags .....now I will be nice and give u some advice buy the dips and HODL

it already has

>A currency which is reproducible is worthless as a currency

Like the US dollar? USA used to be backed by gold and tracked it. Once Nixon took the dollar off the gold inflation ramped up nicely.

Enjoy your worthless fiat.

>Someone literally said "I wrote a program that generates money"

>I could go into the intricacies of cryptocurrencies

somehow, user, I doubt that

Right

Anyone who thinks btc is reproducible clearly doesn't understand what the blockchain is.

These threads are always started by some salty cunt who missed out on earning a ton of money. Just ignore crypto and let us big boys earn our big boy money whilst you stay in your shitty 20k a year job user topkek

dude. just stfu and stop embarrassing yourself

Enjoy it while it lasts, I bought 4 bitcoins at 6k, sold enough to get back my investment and now I'll just see where it goes

thats exactly my point

you think a monolith like the king of england would buy into a bubble?

>I haven't even read the Wikipedia page about how bitcoin works but I'll claim to be an expert anyway the post

Let's put it really basically. Each additional bitcoin created took more electricity to make than the last one. Therefore it isn't reproducible the way you say

It's no bigger scam than the US dollar not being backed by gold anymore.... It finds its value based on it's use. Right now it's only use is for investors who want to make money on once their insane gains are reduced, the bottom will drop out and crash

Why would I buy bitcoin? I can't use it at a store, or on Amazon or Walmart, or Best Buy, or Giants, or any local mom-and-pop store. So why would I want it?

Ok, then please elaborate how you squeeze a large number of transactions into a fixed block that are limited in update intervals by design. And alternatively, bypassing the issue by increasing either block size or update rate, how to make full nodes still economically possible?

Yes you can
Right now it's mostly just in bigger cities though

Blz send me a bitcoin. All I want is one!

1LcSVjY4z3oDGXp
KD7GL8ZV49SgoatRWYu

Bitshares...

hahahahahahahahahahahahahahaha cut your losses mate

Until Honda, Geico, Amazon, Weis Markets, and Med Express accept bitcoins, then they have no value to me.

...

This.
The fag who claimed he could go into the intricacies sounds like the college freshman meme.
This guy here , owned his dumbass too.

Since bitcoin is going to be worth anything in the future anyway, why not just send it to me?

1JHoj5tSVuRkGG
kttfF1nudnHYm2KMbe3Z

FUCKING OWNED

It shows that you don't know shit about bitcoin and what it is trying to achieve ...
Imagine a money not inflated by the government robbing the savings or everyone, where you can't hide transactions, one not controlled by central banks, available 24/7 and across every country without currency changing fees, one who does not need bankers and other scammers ...

I am here for "the project", I want to believe.

Yeah but I also know that bitcoin has tons of scaling problem, no°1 is network fees.

What is driving the value of bitcoin up though? I understand its just as good as traditional currency so long as people believe in the system and assign it worth but I don't understand why that worth is increasing? Is it because the number of bitcoins is limited? If a company creates a new product and sales increase then profits increase and a share of the company becomes more valuable but what about bitcoin is changing or improving to raise the value?

...

Can you buy and sell bitcoin without fees though? I signed up for coin base and cex and they both demanded tons of personal information and have stupid fees. Also, cex always gives a considerably higher buy cost.

Coinbase isnt exactly having the best of times right now. I recommend avoiding them.

>from /biz

i think /b should just stick to cock tributes and trap threads

Do tell?

I use coinbase too. Can I move my coin to a different wallet?

From personal experience and friends who also use it, theyve been getting hit with different kinds of fees for nothing really. And of course the irs breathing down their neck.

So what do you recommend??

Someone was telling me about Gemini i think but i haven't tried them yet. I also recommend getting a hardware wallet, either ledger nano s or a trezor.

This is really vague FUD.
If you're in the the US using a US exchange you're going to have to report. That's a legal business. There's no random fees, what are you on about

Hardware wallet?

They told me it would crash when it hit 50c per coin....

Can you use gold to buy your food at Walmart didn't think so, blockchain tech and the tangle will most likely become the norm replacing visa and cash. But I do say it still has far to come before that.

You are limiting yourself if you believe that the internet wouldn't have its own, or multiple of its own, currencies. Soon this will be considered normal.

This...help a newfag out too stupid to understand

found the shill

It's current price is to high imo I think some manipulation has caused it to grow and new people will buy at any price cause of fomo

That answers nothing...

>Someone literally said "I wrote a program that generates money"

has to be bait

bmwforum.co/image.php?v=X26AQD.jpg

I mean the proof is right here, its all a scam

Yeah but people don't trade in dollars for anything besides purchases

We don't trade in our dollars to use candy bars as currency, but we do trade in our bitcoin for dollars to use as currency

What happens when a bunch of people trade in at once?

The value drops and then people buy back in. That's not a unique problem though. If everyone went to the banks to withdraw their money it would crash the system since so little of the money actually exists in cash. the government wouldn't allow it, remember Greece