Bitcoin is crashing again

Bitcoin is crashing again

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youtube.com/watch?v=KTf5j9LDObk
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Virtual fake money

AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAH

real money is also fake

...

bitcoin should be outlawed tbqh
only criminals use it anyway

Wasn't the Bitcoin supposed to be an actual currency? Even third world African currencies are less volatile

Just a minor blip, it will gain ground again. Don't worry.

fuck bitcoin dude my altcoins are crashing

it's because bitcoin rarely or not being used as payment commodity anymore
it become more useless by time to time as long as the flow of exchange not being generated actively

we made it.

THis is what happens when 3/4 of created bitcoins are being hoarded waiting for prices to rise and the rest is used for illegal transactions

But the free market will fix it!

bitcoin will never be used as a currency
they only reason it stays that expensive is because it was the first crypto
it is so fucking expensive to make a transaction, and it takes at least 3 hours
bank transfer is 10000000x better than this shitcoin

Ethereum is cheaper and faster but still not enough, you still have to pay few $ for a transaction and wait like 30 min or 1 hours

there are altcoins like RaiBlocks(Nano) or NEO that are instant and feeless

no one will fix it as long the cryptotards keep hold back it without doing anything
you want it become pricey again? then use it, buy something with bitcoin, don't hold it

why didn't i stay in Ethereum

>But the free market will fix it!

This, but unironically.

Crypto cannot die soon enough

Crypto won't die but bitcoin will

Good

Investing 4 babies

Why the fuck isn't this Russian piece of shit Eth dropping?

Because it's being artificially pushed by the Russian government at the expense of the Russian economy (as usualy).

>"user you have to get into bitcoin!"
>"I have bad luck, it would crash the moment I went in, haha!"
>"user, I just made 5 grand, you gotta try out bitcoin!"
>"I have bad luck, it would crash the moment I went in, haha!"
>"user, I've made 25 grand, you HAVE to try crypto!"
>"I have bad luck, it would crash the moment I went in, haha!"
>"user it's down super low, you should buy!"
>"Fine, I'll buy some BTC."
*crashes and doesn't recover*

MOOOMMMMYYYYYYYYYYYYYYYYYYY MAKE IT STAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

>be NEET
>live at parents basement
>hear about cryptocurrency on r/Sup Forums
>take a loan and spend thousands on computer hardware
>start mining
>waste whole weeks letting the computer run at maximum power
>electricity bill skyrockets
>GPUs fry regularly due to overheating
>parents eventually ask why we consume so much electricity and why there is another mortgage on the house
>"Y-you don't understand you brainlets, I am going to be rich!
>make .01 BTC profit (something between $1 and $100)
>IRS tracks you down
>takes away house and car
>parents become homeless
>get sent to jail for tax fraud
>lose virginity in prison by Tyrone and Pablo

>poojeet pm says they'll crack down on criminals using bitcoin
>ehmahgerd dey be bannin crypto
>everyone panics
I'm really enjoying all this drama.

It is as real as the Law, since it is legal tender.

Yeah, by correcting that shit all the way to zero and and moving the focus from blockchain technology enthusiasts to actually useful applications, like smart contracts and fast and safe transfers.

Obligatory post

youtube.com/watch?v=KTf5j9LDObk

mfw I sold everything in december 31
Thank you Jesus Christ

i bought at 18k and still holding

>buying buttcoin at 18 k

...

>There were people who unironically did this

what were you thinking seriously?

What were your gains?

I hope it stays down for awhile. I bet on the Superbowl and if I win I can get paid in bitcoin. I'd wait and sell it when it goes back up.

I hope bitcoin and all other bitchcoins die and burn, I need a new graphic card because I want to buy VR and I'm not paying 3 times the normal price because these cunts buy up the whole stock.

Almost $10k in gains since I got those bitcoins for free (providing some links and passwords to these sites)

AHHHH
AHHHHHHHHHHHHHHHHH
AHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH
THHHHHHHHHHHHHISSSSSSSSSSSSSSSSSS CANT BE FUCKING HAPPENING
PLEASE GOD GOD PLEASE HELP ME
JOHN MACAFEE TOLD ME ITD BE WORTH %0K BY NOW HOW IS THIS HAPPENING
MOMMY PLEASE HELP AHHHHHHH NOONONNONON
JUST A SMALL CORRECTION
JUST A SMEALL CORRECTION
JUST A SMALL CONRECTION
AHHH NO ITLL GO BACK RIGHT PLEASE TELL ME PLEASE PLEASE PLEASE

Good job, lad.

Good post.

Yep

>now it's 8,800
>literally -5% since the thread started

I mean, what is backing bitcoin? It's just as arbitrary as national currencies but doesn't even have central banks or convoluted financial mechanisms behind it. It's pure speculation, you can't even use it for most transactions.

>doesn't even have central banks
That's why bitcoin gains more value, will your currency loses value.

while* your currency

Fuck the autocorrect desu

I can't wait for the news reports on all the shitcoiners who are killing themselves right now

>bought 100 grand's worth when it was at 16,000

>Currency gaining value
That's an oxymoron

good, good, let tge reality flow through you

>Warned everybody on /biz/ that I decided to enter the cryto market near the end of december 2017
>Warned them that I am the unluckiest motherfucker ever and they should consider exit the market since it will inevitably crash because I spend money on it
>They didn't listen
Sorry

people unironically bought btc at 19k

the whole job of a central bank is to keep inflation down.

On another and deflation is far worse for the economy than inflation. Imagine if your euro gained value .. We'd end up with 0 growth because every fucking of you faggot would just save everything instead of consumming, just like what's happening with bitcoin

I don't care anymore. It's all free money anyway

Forgot pic

ITS GOING TO GO UP RIGHT MOMMY?
I DIDN'T WASTE ALL MY MONEY, RIGHT MOMMY?

The role of a central bank is not to keep inflation down per se.

>save everything instead of consumming
Thus bitcoin is used like crazy to consume right now, because its price currently falls...?

>every fucking of you faggot
Reste poli.

no it's falling because people are starting to realize it has become just another speculation device

I thought finns were smart.

Literally me

>>The role of a central bank is not to keep inflation down per se.
in the USA that's literally its only objective

Black market.
Money laundering.
Autist ancaps larping.

it keeps going down

How come Westerners still obess with shitcoin?

so the utopian idea of an internet currency is dead and at this point is just IT autistic males who don't know what to do with their money are seeing this as an investment because a no-risk savings at 5% isn't enough for them

...

The OG's who invested in bitcoins from the beginning and sold their shit when it peaked at 15-19 k are rich now. If you invest now you are literally retarded, there is nothing left in this ponzi.

>BITCOINS WILL REACH 1 MILLION PIECE

Also do you really think investing in a currency which whole purpose is to buy drugs/weapons/assasinations/cp is a good idea?

>says the guy whose country invented it

USD is too

>>thinks satoshi is japanese and not a pseudonym

>criticize japan
>weeb instantly jumps to defend japan

Yes, but people bought it to speculate in the first place desu. It's not a sudden realisation after they bought.

It's the current policy, but as you pointed out, when there's a deflationary risk, the central bank actually pushes for more inflation. The central bank itself is a tool, it doesn't have autonomous goals.

When posts like these will be the dominant opinion on bitcoin, it will be time to buy again.

>invested 5€ into LTH when it was fresh
>now it's worth 50€
>reinvest into ICX

Heh bring it on! I WILL FUCKING TAKE IT ALL. MY IRON HANDS WILL PREVAIL.