Tulip Mania? Dot com bubble?

Which ever algo is the most flops/watt efficent will win out for best massively parallel distrubuted RSA key hashing/smasher algo. Then that technology will be used everywhere. These 'cryptocurrencies' that have popped up are nothing but an abstract beyond the CSGO gunskin market.

The algos are the valuable part (USD could be transfered.) There is nothing linking these currencies to their algorthms except for that algo just happens to be how you hash keys to verify transctions of your currencies.

IMO: the NSA created the concept of crypto in order to create a bubble economy/market to drive the development of massively parallel/distriubted algorithms to hashing 256bit RSA keys.

what is money skilly trying to say?

I guess you missed the word divide, retard

complete different timeframe

even its straight going up, not exponential like BTC and tulpomania ...

bad comparising

btc will be 500k because? Because it is a "store of value"? muh "digital gold"?

Value comes from use, if people don't want something it has no value, btc has become pretty much useless as a currency, the only reason people want it now is because its value rises because other fuckers buy it because they see it rise too, that will stop sooner or later

link?

>He doesnt think the tech makes adoption quicker also.

I'm long BTC and I would prefer it to crash right now because it's just dumb money coming in at the moment.

BTC has some advantages over other cryptos. It has household name recognition. Ownership is far more decentralised than any other crypto (a product of it being the most mature token). The pioneer of BTC is either dead or in hiding which means there isn't anyone to come out and tell us what BTC is supposed to be used for.

>The pioneer of BTC is either dead or in hiding which means there isn't anyone to come out and tell us what BTC is supposed to be used for.

and that's where you are wrong kiddo

>it's just dumb money coming in at the moment
Never underestimate the value of dumb money to a smart investor.

>using GDP as an example of a healthy market
if congress didn't print money out of thin air, creating debt, and then spend that money on bullshit, we wouldn't have the GDP we do now ffs...

>Ownership is far more decentralised than any other crypto
Development is far from decentralized, with the developers serving the interests of their funders (aka Blockstream)

>The pioneer of BTC is either dead or in hiding which means there isn't anyone to come out and tell us what BTC is supposed to be used for.
BTC was meant to be peer-to-peer electronic cash, that's what made it gain adoption in the first place, over the last few years BTC has strayed away from this vision, consequently transaction fees have been increasing, merchant adoption has been decreasing, and its value is now irrationally skyrocketing despite the lack of fundamentals

>BTC was meant to be peer-to-peer electronic cash
Yeah but so what? It wouldn't be the first time something is used for a purpose other than its original design. This is why Satoshi being off the grid actually allows it to work.

The BTC technology is already completely obsolete. In a twisted way that actually makes it more valuable than eth, LTC or anything else.

Something else will come along that will make all the alt coins obsolete. But BTC has first-mover advantage and synonymous with all cryptocurrency and blockchain.

Gold is another commodity that is in a bubble. But it has been in a 5000 year speculative bubble. The price of gold is also completely irrational relative to its actual utility even if you factor in demand for jewellery etc.

I'm not saying BTC will replace gold (it won't). But it may endure as a store of value that has many advantages over gold.

welp im convinced just bought 100 more k

This.
Vitalik is bullshitting y'all. Bitcoin still looks like a massive bubble when you divide it by that chart.

>Gold is another commodity that is in a bubble. But it has been in a 5000 year speculative bubble. The price of gold is also completely irrational relative to its actual utility even if you factor in demand for jewellery etc.
hahahahahaha...this is what coiners actually believe....

I own gold as well as BTC. I'm not so stupid as to wager my livelihood on internet funny money.

I may be wrong but that's my judgement.

>Yeah but so what? It wouldn't be the first time something is used for a purpose other than its original design.
You have to realize that the very reason BTC grew to have value is because of its original purpose, if you remove its purpose of "peer-to-peer electronic cash" then what remains? Something has value when people want it, at the moment most people want it only because its value rises because others buy it because they see it rise. If BTC becomes useless as a currency then it will become worthless, because people will stop wanting it because they won't make money from buying it. Why would they keep holding BTC if its value stops rising? When it won't rise anymore they will sell and it will go down for good.

Many people have wanted gold in history and still want it because it is beautiful, and rare. They know they can make expensive jewels out of it, that other people are willing to pay a hefty price for. BTC doesn't have that, and people will find a much better store of value elsewhere.

No, it was speculation and drugs from almost the beginning. "Satoshi's vision" never meant jack shit to the people dropping real money on this, and his intent stopped mattering the second he left development.

Speculation about it becoming used globally as peer-to-peer electronic cash. Buying drugs with it was merely a use case that showed it did work, that people could transact with each other across the world without middlemen such as banks. People transacting drugs with it were indeed enacting Satoshi's vision, they used it because it worked for what it set out to do.

Since when was BTC ever actually used as a currency? When some neckbeard bought a pizza for 10000BTC in 2010?

As long as the blockchain works then it has value. BTC has value to people in countries like Venezuela and Zimbabwe. That will extend in the event of a financial crisis (which lets be honest, look at the balance sheets of every single Western country, is going to happen).

Japanese people buy BTC because their government is printing $120billion USD worth of yen every single month. They are simply further down the path than we are.

This too.
Vitalik really needs to refrain from posting on Twitter. I'm losing respect for him. It's a different timeline is and bitcoin's price increase is logarithmic rather than linear.

What did he mean by this?

Woah, pretty interesting. But why would the NSA which is part of the government, create something that is decentralized and theoretically so useful of a technology that it could threaten the existence of the government all together?

If you have and rabbit hole links to read about this, that would be awesome too.

It means he’s a fucking genius that changed our future.

Vitalik is on a par with someone like Aristotle or Newton. Sometimes people like him come along at just the right time to help us all go forward a step.

>BTC has value to people in countries like Venezuela and Zimbabwe
People in Venezuela and Zimbabwe will want a currency that is fast and has low fees, whereas BTC is increasingly hard to use as a currency (higher and higher fees, transactions stuck for very long times when many people try to send BTC), there are already better alternatives out there

The NSA didn’t create bitcoin, but after gavin Anderson handed the project over to the CIA in 2013 they do indeed control “satoshis” stack. This is in preparation for the currency wars leading up to the 2020 war against China. The Chinese smelled it coming that’s why they are madly trying to mine btc but it’s almost too late for them now.

He's not talking about bitcoin. He's talking about debt, s&p 500 and economic trends in general.

The real breakthrough was coming up with a way to exchange information in a trustless and decentralized way which is what Satoshi did. Depending on how that information is used it can act as a currency, or a smart contract, or a record keeper or many other things. Initially Satoshi had even started working on having the game of poker run on the blockchain. Vitalik merely added a layer that can make blockchain applications programmable. When you think about what blockchain enables this is a natural evolution, probably others thought of it before him and after him.

interesting, tell more please

Where are you getting this info?

Public knowledge if you're in the right circles.

>The pioneer of BTC is either dead or in hiding
what? what the fuck? what does this even mean?

Satoshi has been afk since 2010

He just lost his private key and is to embarrassed to talk about it.

it means you're retarded

Your time has come coiners

lol fucking linky shoo shoo

Stupidity, stop spreading fraudulent information.

>Will want

Venezuelans switched to ETH as far as I can tell, graphics cards easier to cover up than asics, same utility less fees. Would be good to hear from a man on the ground.

Little known fact: money skeleton is actually Satoshi

so it isn't public knowledge then is it mongboy

that would be priceless.

its actually this kek

He's saying you can't judge things in a vacuum. Comparing things to US GDP is a better reference point than nothing.

Of course, leave it to brainlets here and elsewhere to think he's saying crypto isn't a bubble. This is the kind of stuff that makes me confident in ethereum's prospects, Buterin is operating 3-4 standard deviations of intelligence above the average person (for perspective, there's less difference between an average person and a gorilla than between a genius and an average person).

Lol value does not come from use you fucking moron. Diamonds are insanely valuable but it's not because of their utility, it's because of its scarcity and the value that people place on it. This is the same reason why bitcoin will ultimately be worth six figures -- it's the value that they place on it that matters.

>diamond are valuable
you know that a store bought diamond loses 1/2 its value the moment you buy it?
its expensive due to monopoly forces and marketing.

He is clearly a _________ hybrid.
A) Alien-human
B) Giraffe-Kangaroo
C) Gila Monster-Jew
D) Platypus-Chimpanze

I was promised a futures crash!
Where is my damn crasssssshhhhh!!!