People in the know realize there are some very big problems happening with fiat currencies. 0% interest rates and endless "quantitative easing" (aka money printing) are the signs of a dying currency. Fiat currencies together hold $50 TRILLION+ in value. Gold holds about $8 TRILLION in value. Bitcoin currently holds only $10 billion. Within 5 years Bitcoin will reach a $1 Trillion market cap, meaning each coin will be worth over $50,000+. Physical cash will not exist in a decade and Bitcoin will be the only way to circumvent the centralized, closed source "GovCoin" that's in the making, in order to finally control absolutely everything. Gold will be useless as you will not be able to hide it when trying to cross borders, let alone send it all over the world instantly for a cheap fee. There will not be an alternative to Bitcoin if you want financial freedom. Attempts to stop the Bitcoin network will keep being futile, since to cause relevant damage it would literally need that the governments get rid of the internet as a whole, which would wreck the economy.
The software will keep evolving and adapting, getting stronger, more private. Not even an hypothetical quantum computer attack will stop it. Non-reuse of addresses makes Bitcoin as it is now, at only version 0.13, immune to those. Besides whales diversifying their wealth into Bitcoin, common people will start working under the radar for direct Bitcoin payments as a substitute for the lack of physical cash. The circle is then closed and government issued money is no longer needed. Everything starts and ends within Bitcoin. A perfect circle of financial freedom. The nerds will inherit the Earth. Logic and Math dominate. Even at $1 trillion market cap, that's STILL only 1 or 2% of currency markets.
>Within 5 years Bitcoin will reach a $1 Trillion market cap sure your crystal ball told you that right? bitcoins market cap can halve overnight any time.
Andrew Wright
>Within 5 years Bitcoin will reach a $1 Trillion market cap [citation needed]
>Physical cash will not exist in a decade [citation needed]
>the centralized, closed source "GovCoin" that's in the making [citation needed]
>Gold will be useles [citation needed]
D-, see me after class.
Joseph Jones
>The software will keep evolving and adapting, getting stronger, more private. zero sign of this to date in fact it's in a weird hell of conflicting dev politics and nothing gets done. >Not even an hypothetical quantum computer attack will stop it. uhm... that's not true at all. >Non-reuse of addresses makes Bitcoin as it is now, at only version 0.13, immune to those. that's also bullshit. address reuse has very little relevance to the breaking of private keys. you are confusing things it seems. but even if you don't reuse an address the theoretical attacks on pub key to private key still work the exact same. >whales kek ocean life has nothing to do with crypto this meme must die. >common people will start working under the radar for direct Bitcoin payments as a substitute for the lack of physical cash. where the fuck do you get this silly shit? the companies have a vested interest to pas the employes above the table as the expenses are tax deductible. >A perfect circle of financial freedom. except everyone and their mother seeing all transactions plain as day. you mean... >Even at $1 trillion market cap, that's STILL only 1 or 2% of currency markets. and? how is that any indicator of future whatever? it doesn't mean anything. especially that bitcoin scales really bad it has many challenges ahead of it and nothing is moving forward. >Welcome to the Information Age. you are late about 20-30 years with that.
Tyler Smith
>Physical cash will not exist in a decade This is common knowledge you coping mong.
So you're saying holding 225 bitcoins is a good idea?
Jackson Flores
There's no difference between "fiat" and gold. Gold only has value because people believe it does. There is no practical use for gold that gives it any value. It doesn't rust and is a decent electrical conductor, but so are a hundred other metals.
Jaxon Bailey
sweet cherry picking on the image. here's the lines missing from the diagram:
acceptance as payment: moderate - high - abysmally low exposure to accidental destruction: low - moderate - high recovery after accident: high - medium - none exposure to forgetfulness: low - medium - catastrophic tracability after fraud: moderate - moderate - low withstanding catastrohpies: high - moderate - low inherent theft protection: high - moderate (as strong as your physical defense) - low (as strong as your cyber defense and life expecancy of your storage device) exposure to built-in weaknesses: low - moderate - high exposure to future technological advances: low - moderate - high transparency of transactions (to a layman understandable and verifyable transfer of wealth): moderate - high - low
>Within 5 years Bitcoin will reach a $1 Trillion market cap, meaning each coin will be worth over $50,000+. laughable >Physical cash will not exist in a decade they're trying, but 10 years is waaay too short for this drastic of a shift. maybe in 30 years. 10 years? no fucking way. there'd be riots in the street. right now politicians have to promise their voters this will not happen. the currenty generation of politicians can't back down on those promises, probably the next neither.
Jose Carter
Fucking beat me to it, and you have a couple of really good ones in there that I missed.
I hope OP's bitcoins all get stolen in the next mtgox fiasco.
Logan Foster
>Fungible Without high transaction costs, almost impossible.
>Secure Yeah, there has never been any major exchanges hacked, or never a huge scam that affected the price of Bitcoin.
>Easily Transactable Transactable isn't even a word. Whoever made this is literally retarded.
>Decentralized Like 99.99% of Bitcoin is owned by 18 addresses, and how knows how many of those addresses are owned by the same person/organization/company/government/etc.
Nolan Bell
Ever been to Japan?
Evan Jackson
not to mention trasnaction processing is getting more centralized in chinkland every day.
Wyatt Thomas
>losing coins on centralized exchanges >blaming Bitcoin Every single critique of Bitcoin is of this tier. The denial and coping is off the charts.
Jackson Lee
He was literally so embarrassed that he deleted his old thread lol
Grayson Phillips
i dont think bitcoin will go above 10k
normies are too dumb to use it.. they will remain poor
David Perez
There are mobile wallets with QR codes and shit. Normies can figure that out. It will only go mainstream if mainstream vendors start to accept it though.
Tyler Sanchez
>nocoiners why do they still post here
Alexander Diaz
>but muh china centralization >but muh bitcoin is not secure cause I lost coins on mtgox >but muh cash will not go away >but muh bitcoin is not making improvements
The amount of cope and misinformation in this thread is outstanding. Then again, those ignorant/in denial are the ones needed in order to make me rich. It's physics.
Jacob Butler
When will nocoiners ever get a clue? Will they be in denial forever? Are they contented by a life of poverty?
Luke Richardson
>Every single critique of Bitcoin is of this tier. uhm where are the decentralized exchanges then you cucknigger?
Gabriel Wood
fucking shills and their phantasmagorias... anything can happen of course but the most likely scenario is a new coin will surpass bitcoin simply because of the ineptitude and overbearing self importance of the bitcoin dev community.
Ryder Nguyen
bitsquare.io confirmed /r/btc troll
Dylan Reed
What is "euphoria" desu.
Trade in tulip coins whole you're at it, fags.
Carter Brooks
I have fiat laying around that I haven't spent or invested cuz lazy and frugal. Considering buying even one BTC just as a gamble. How would I purchase one and how are they stored? I know centralized exchanges like MtGox are risky and that bitcoin's big thing is its decentralized blockchain but my knowledge os pretty minimal other than that.
Im Aus and have AUD if that's relevant
Tyler Ortiz
Gold can't be inflated like fiat can, that's the difference.
Isaac Sanchez
Lucky for you I'm Australian. Use CoinJar. Check altcoins.com.au because they used to be cheaper but they've stopped working recently. You could probably just leave it on coinjar. Like if laziness is too much for you to make proper cold storage don't stress too much. Armoury is a good wallet or you could make a warpwallet brain wallet.
Hunter Nguyen
Bumping for the same issue here
Luke Brooks
>buy coins off locabitcoins (I do it on the regular) >set up a wallet or something on a USB and don't lose the fucking USB >watch BTC prices and wait >????? >profit
Jonathan Scott
c-c-cryptofags btfo
Thomas Clark
>transaction with fiat takes 30 seconds to give money and get change or use your card >transaction with bitcoin requires internet connection, takes minutes or hours to confirm thats why we will never see bitcoin payments widely accepted
Evan Gutierrez
Wrong. The Spanish fucked their gold-based economy by sending over too much from the Americas. Mansa Musa also crashed the economies of Cairo, Mecca, and Medina just by giving away too much gold.
Cameron Reyes
$ is backed by 5000+ nuclear warheads.
Bitcoin is backed by a network that can be brought down with one of those warheads blown up at appropriate altitude.
Wyatt Wilson
>requires internet connection >thats why we will never see bitcoin payments widely accepted shit mate u r dumb Even third worlders get internet today and it's only just beginning for them. Also everywhere that uses credit cards use internet.
So many people keep saying this. If this was real tulip mania you faggots would be rare. Ever talked to a normie about bitcoin? They think you're fucking crazy if you tell them you've put even $1000 into it. They don't get it and if they've heard of it they think it's a thing that had a bubble once and is done now. Bitcoin is way undervalued right now imo. There should be euphoria but there isn't.
Cameron Thompson
>Bitcoin is backed by a network that can be brought down with one of those warheads blown up at appropriate altitude. wrong
Levi Adams
The economy is fucked. Buy Bitcoin while it's 3 figures.
Austin Reyes
>muh cash will disappear in decade or two
>muh cc transactions are instant, it's confirmation that takes time
guess what, a credit card takes 180 days to confirm your beloved instant transaction
the lightning network will allow for trusted instant, cheap transactions, deprecating every other form of money in the planet
bitcoin already won, it's a matter cope on deniers now. history will make it mainstream when the time is right, plebs are always last to catch on.
Ryan Rodriguez
>Note: At this time, a fully decentralized arbitration system is not yet developed. The current bootstrapping phase instead uses a closed group of trusted arbitrators. kek >2. Both traders are required to pay security deposits. These are refunded to them after a trade completes. yeah whatever fiat you deposit can be stolen just like an account at a centralized exchange. same shit nigger. only there are more "trusted arbitrators" here not just one in theory but how can you even make sure they are not the same russian gypsy?
it's a step in a direction but not even close as expected.
Brayden Gomez
>mom why arent we on the future yet waaaaaaa save your fucking bitcoins in your local wallet if you don't want to lose them just like any sane human would do and stop crying
Anthony Foster
CAPM says you should invest a little a bit in Bitcoins based on its small market cap. Putting all your money in it would be gambling.
Andrew Brown
not taking risks = staying a poor faggot
Nathaniel Cox
the point was exchange or any service where you can spend it or whatever. bitcoin is useless for them mostly as of now. because it loses all decentralized properties ones it interacts with the real world and exposes the users to scam as it's highly unregulated and hard to pursue any legal measures across a bitcoin transaction.
which is everyone's problem with bitcoins.
meanwhile in real world if a seller scams me i can chargeback on my card or sue the fucker file a police report and whatnot. we have a way of dealing with being scammed out of real money. with bitcoins it's not there yet and doesn't look like it will be anytime soon or ever.
Juan Stewart
>not taking risks = staying a poor faggot I don't take stupid risks based on the opinions of some fags with probably less than $100k in assets on an obscure message board
Christopher Williams
>listening to deprecated grandpas stay a poor faggot payment channels will allow for decentralized exchanges, chargebacks etc
Nathan Diaz
wow youre dumb, you have to blow up the entire internet to destroy BTC. not one warhead
Dylan Murphy
some people are simply content with making 5% per year, this is why they will forever be poor and stubborn grandpa's
Luke Williams
>Physical cash will not exist in a decade >Physical cash will not exist in a decade >Physical cash will not exist in a decade >Physical cash will not exist in a decade
Yeah, no.
Jackson Green
Looked around and checked scholar sites too, the following is the most relevant and is basically a summation of what the others I skimmed said. ___________________________________ The rise of electronic currency will lead to the phasing out of physical cash in Australia within a decade, according to Professor Rabee Tourky, Director of the Australian National University (ANU) Research School of Economics.
Phasing out the currency at this level is only going to work if it's a slow transition. They could easily choose to stop printing physical currency by 2025 and begin only issuing new currency in the form of electronic currency, BUT, anyone taking this claim seriously fails to comprehend how slowly people adopt to new technology. You are not going to be able to make two bogans in the outback give up all their cash and start using a machine if they are content to continue using paper currency. Not to mention this is only being said about some fuck off country no one really gives a shit about.
Yeah, no. Keep coping tho. Not to mention during the transition to the inevitable cash society, be it in 10 or 20 years, Bitcoin will start skyrocketing already since more people will start to see the trend. Not everyone can see things coming years before it happens, indeed few do, which is why few (like me) keep getting rich from events like this while the rest keep coping on their normalcy biased, linear-thinking bubble.
There's even TV shows talking about this already for god's sake:
Wake up and smell the coffee. This is a war. Choose Bitcoin or stay a cuck.
Parker Roberts
>that's also bullshit. address reuse has very little relevance to the breaking of private keys. you are confusing things it seems. but even if you don't reuse an address the theoretical attacks on pub key to private key still work the exact same.
You don't know how bitcoin works don't you ?
Dylan Bennett
Ok so how much bitcoin should i buy?
Ayden Cox
He's just coping to not buy. As much as possible.
Jack Mitchell
Hey bros- new to all this.
Where is a reliable place online to buy Krugerrand coins? Also, why is the price slightly different on coins of the same weight?
Pls no bully.
Angel Howard
i do probably know a hundred times more about it than you do. also know cryptography. if reusing a private key weakens the security of the key then the crypto-protocol is at great fault and should be redesigned. the issue with bitcoin have been fixed. we would be in knee deep shit in general and public key cryptography would be utterly worthless if private key reuse was a concern in the slightest.
Dominic Miller
for more detail same K attack was the exact retarded bullshit cryptoprotocol mistake i was mentioning and was dropped fast as a hot potato and full clients never even had it.
side channel attacks are sci-fi circle-jerks in practice for most anons this is not a concern unless you have malwares but then you know they can just log your password and decrypt your wallet and shit. you already lost the game for privacy and security if a side-channel attack opens up.
Jack Adams
>owning less than 21 BTC seriously kill yourself
Lincoln Nguyen
Id love to own some gold but it's just too damn valuable. Plus no one else really has any so I'm not sure it would be useful as a currency.
Jacob Sanders
You're an idiot. OP said non-reuse of addresses makes bitcoin more private. So you're on an irrelevant sidetrack of copage
Robert Reyes
>Not even an hypothetical quantum computer attack will stop it. Non-reuse of addresses makes Bitcoin as it is now, at only version 0.13, immune to those. you retarded cuck, learn to read!
Eli Ortiz
You're retarded actually. Can you not spot when someone makes a grammar/punctuation mistake and extrapolate from that what they were trying to say?
Cameron Stewart
...U fucking autist
Hudson Cook
i'm laughing at you so hard user and btw your embarrassed butt-hurt is magnificent
Liam Smith
>Where is a reliable place online to buy Krugerrand coins?
That pic of my btc holdings (a few months ago) is copyrighted and if anyone wants to use my btc shitpost-dick-waving pics they gotta ask for permission first
Bentley Green
Didn't even touch on the infinite bullshit that is Negative Interest Rates, NERP.
Watch for: [ Insert Sector ] Industrial Complex
A lot of the high level tactics used to control seems to be using Econ. Engineering (Derivatives, stocks, {etc} Bubble ) to orchestrate social unrest, division, multiplication(population), and the eugenics of value. All tuned to the daily doublespeak on channel XYZ.
Dominic Reyes
>Dectralized >Smart
Bzuz word tmie
Ryan Hernandez
nah i'm fine trust me. delusional faggots like op tho gonna be very butt-hurt soon.
Bitcoins are worthless until I can use them to pay for food and housing.
Samuel Smith
Hop on BTC now or cry later.
Grayson Turner
>nah i'm fine >nocoiner Pick one.
Hudson Foster
actually i have bitcoins you imbecile cucknugget i just don't think ops shilling and the other retards has any real chance to come true.
bitcoins so far turned out to be a huge disappointment in more than one ways. i will keep holding and see what happens but this retarded bullshit about it going to the moon and replacing fiat and whatnot is just too much faggotry.
Brayden Jenkins
>buying gold coins This needs to stop.
Jackson Evans
>actually i have bitcoins you imbecile cucknugget Triggered illiterate nocoiner.
Angel Butler
uhm it's weird how people that can't seem to read can somehow post... one of the many wonders of the world i guess.
Dominic Gutierrez
Your mom could grow balls and become your dad overnight.
Alexander Jones
I can buy coney island
William James
You are either a dumb holder or a nocoiner in denial, same thing since you'll sell too soon.
Jason Miller
i can only laugh at you delusional retards seriously you are beyond retarded. we need a new word for your mental illness.
