Convince me

Fried_Sushi
Fried_Sushi

Is there some grand pyramid scheme behind all this that I'm not seeing? Seeing as its shilled on here ruthlessly is there any actual sound reason that you should invest in bitcoin today?

Other urls found in this thread:

discord.gg/Uvn4Nz9
fiatleak.com/

Lord_Tryzalot
Lord_Tryzalot

is there any actual sound reason that you should invest in bitcoin today?
It's probably going to go up and, if it does, the gains will be unlike anything you can achieve with conventional securities.
However, it's mostly powered by hopes and drugs, so it's pretty much gambling.

Spamalot
Spamalot

bitcoin is *the* success story of the cryptocurrencies. but yeah its all speculation driven

tl;dr: its too late to make any money on BTC, but you'll always hear about it because some people made a shitload, and every other coin is trying to emulate it

lostmypassword
lostmypassword

Bitcoin is to USD what email is to the post office.

It's an objectively better monetary system but adoption will take time and normies won't ever start using it until the traditional financial system fails them in some way. If this happens, however, those holding bitcoin will become the world's new elite. For now, though, bitcoin is just a scarce digital commodity. A good investment but nothing magical.

hairygrape
hairygrape

but people make the argument that if stocks or the economy crash the price will go up, theres opportunity there no?

RumChicken
RumChicken

an objectively better monetary system
Only for lolbertarians.
To everyone else, it's simply an alternative.

Spazyfool
Spazyfool

Convince me
we don't have to convince you about shit , convincing time was 2010-11

Nude_Bikergirl
Nude_Bikergirl

no

lostmypassword
lostmypassword

Wrong. There are many advantages to the blockchain and bitcoin monetary system that put the existing system to shame.

One of the biggest is no intermediaries. I can pay you and you can pay me with no involvement with a 3rd party.

It is 100% objectively better than the current systems. Not just an alternative.

hairygrape
hairygrape

You don't even know what a pyramid scheme is clearly. If there was any other dodgy shit behind Bitcoin, you'd think in 8 years of it being around that it would be discovered.

Gigastrength
Gigastrength

Personally, the ability of physical money transfer from me to someone else anonymously, without needing a computer or an internet connection is more appealing than any of Bitcoin's other benefits combined.

Emberburn
Emberburn

bitcoin is fucking awful

buy ETH

SniperGod
SniperGod

its good to speculate on

I bought it months ago, and doubled my money., If you dont like speculating on things, better just put your money under a mattress

SniperWish
SniperWish

Bitcoin takes all the benefits of in-person cash transactions and makes them work globally.

Sure, you need a computer (or $30 smartphone) with internet connection but you're hardly without those things in the modern world. It's no less convenient than carrying around a duffel bag full of cash and MUCH safer. Not to mention that I can take my little smartphone with me ANYWHERE. Good luck explaining why you're carrying $10,000 in cash when you get pulled over or try boarding a plane.

BlogWobbles
BlogWobbles

I'm aware of all of Bitcoin's benefits. The appeal of truly off the grid anonymous payments in the woods after sex though is still appealing. I think right now at least, its easier to condense that $10k into a little diamond, which you can resell. Getting fiat from crypto is still pretty hard, banks are being deliberate cunts.

LuckyDusty
LuckyDusty

debate in crypto room on bitcoin if u want

discord.gg/Uvn4Nz9

discord.gg/Uvn4Nz9

discord.gg/Uvn4Nz9

Stark_Naked
Stark_Naked

It is 100% objectively better than the current systems. Not just an alternative.

I love BTC and have a lot of it, but I don't agree with this.

Banks provide really important services that people need. People are FUCKING STUPID and getting their shit stolen constantly....

If someone gets your credit card info, the bank will cover your ass. If someone gets your BTC details, you are beyond fucked.

Lunatick
Lunatick

what did you exactly think he meant you moron?

MPmaster
MPmaster

There's no reasons banks couldn't provide these same services but use bitcoin as the underlying asset.

Carnalpleasure
Carnalpleasure

new elite

Oh I like the sound of that.

Flameblow
Flameblow

Bitcoin has a finite money supply, which means it can't support a large, growing economy.
Bitcoin is deflationary, which discourages spending.
Bitcoin transactions can't be reversed, meaning stolen funds are irretrievable.
Thieves are usually untrackable.

The idea of any large, first world country replacing its currency with bitcoin is ridiculous, because it's unsuited for the task.

kizzmybutt
kizzmybutt

i agree, so whats next? i bet blockchain tec will be the next big thing, what should we invest in ? are the banks coding proprietary ethereum like tech ? is it possible to make it proprietary code out of blockchain tech ? Since The dao hack fiasco, and the ethereum autoritarian intervention that jeopardise the whole "free unregulated economy", i wonder : will bitcoin crash ? and if it does will any other crypto takes it place? will we eventually have a permanent crypto to store our money into ?

Skullbone
Skullbone

Bitcoin has a finite money supply, which means it can't support a large, growing economy.
Bitcoin is deflationary, which discourages spending.
Our economy was based on gold, a finite resource, for thousands of years. Know what else being deflationary "discourages"? The government printing away your life's savings.
Bitcoin transactions can't be reversed, meaning stolen funds are irretrievable.
Don't get your funds stolen. Bitcoin is more secure than traditional banking. Go buy something online with your credit card. You must provide the website with your entire CC details and hope they only charge it for the amount advertised. When I pay for bitcoin I send them exactly X and not a single cent more. Don't feel like you can manage your own keys? Use a custodial wallet or multi-sig solutions. Transactions being irreversible is one of bitcoin's biggest strengths.
Thieves are usually untrackable.
See above. Pseudo-anonymity, again a major strength.

Blockchains are slow and inefficient. Their ONLY redeeming quality is decentralization. The idea that banks or private companies are going to capture the "power" of the block chain while making it centralized are complete idiots.

will we eventually have a permanent crypto to store our money into ?

Yes, it's called bitcoin.

AwesomeTucker
AwesomeTucker

getting fiat from crypto is still pretty hard
wot m8? couldn't be easier it's just clicking a few buttons.

Spazyfool
Spazyfool

Our economy was based on gold, a finite resource, for thousands of years.
Economic growth in the last two centuries outstrips economic growth in the last two millennia by an enormous factor.
Besides that, the supply of gold was (and is) growing, whereas the supply of bitcoin will soon stop growing, permanently.

Know what else being deflationary "discourages"? The government printing away your life's savings.
Inflation encourages investment and spending. Deflation encourages hoarding. I know which one I'd prefer.
Massive inflation is not a serious risk in a stable, first world country.

Transactions being irreversible is one of bitcoin's biggest strengths.
Definitely, but it's not a feature anyone wants in a primary currency. It offers no protection against fraud or theft. If your wallet is compromised by a hacker you have no recourse.

Pseudo-anonymity, again a major strength.
And again a reason it won't replace fiat, no matter how much lolbertarians insist it will.

Dreamworx
Dreamworx

i have all my savings on bitcoin right now. Im betting on a huge colapse of dollar starting on germany. lets hope our predictions are right.

kizzmybutt
kizzmybutt

id say having all your savings in bitcoin is a bit risky, I'm only at about 25%

Bidwell
Bidwell

Economic growth in the last two centuries outstrips economic growth in the last two millennia by an enormous factor.

What is the industrial revolution, what is the computing revolution, wtf is the internet?

deflation/inflation hurr

What are altcoin? Gold was far from the only currency used. Money is only a fucking commodity after all, trade with fucking tobacco leaves if you like

Inmate
Inmate

Buy one. If it turns to shit you lose some money, nothing life changing. If it does what people are hoping it will do, you are set.

likme
likme

What is the industrial revolution, what is the computing revolution, wtf is the internet?
Those are the reasons recent growth has been so rapid, dumbass.

What are altcoin? Gold was far from the only currency used. Money is only a fucking commodity after all, trade with fucking tobacco leaves if you like
What does any of this have to do with deflation?

WebTool
WebTool

Its obvious you've never dealt with the hoops of BTC-to-fiat cashing out. Unknown stalls, shit not visible, no one to talk to for support. It was a mess back in the early days and still isn't totally flawless.

VisualMaster
VisualMaster

Yeah, have fun doing that when governments get rid of cash in the next decade or two.

Also have fun moving gold between countries without getting caught.

Anyway, if you have to ask other people to convince you, you are already too much of a retard to be a pioneer, just remain in doubt with the rest of joes.

eGremlin
eGremlin

The world economy is a pyramid scheme

Ignoramus
Ignoramus

Inflation encourages investment and spending. Deflation encourages hoarding. I know which one I'd prefer.
Massive inflation is not a serious risk in a stable, first world country.

Fried_Sushi
Fried_Sushi

? i bet blockchain tec will be the next big thing,
"blockchain tech" is bank's way to cope with bitcoin deprecating them.

Nude_Bikergirl
Nude_Bikergirl

Inflation encourages investment and spending. Deflation encourages hoarding.

Spot the keynescuck

kizzmybutt
kizzmybutt

Where did I ask anyone to convince me of anything you retarded cunt? Different ID due to internet cut out.

PackManBrainlure
PackManBrainlure

Why wouldn't the usd or some other existing traditional national currency make the jump to digital block-chain and leave all the bit coin people holding their dicks?

Emberfire
Emberfire

crypto is harder to get fiat from than a diamond

what the fuck dude you need your head examined

Flameblow
Flameblow

your just an idiot m8

StonedTime
StonedTime

Prove me wrong, faggots.

New_Cliche
New_Cliche

It seems to me that it may be too early in the world of cryptocurrency to know what will be the future. What is stopping someone else from using the Bitcoin platform but solving scalability issues etc? Whether it be the govcoin or goldmansachscoin. Can anyone argue this from a pro bitcoin perspective? and vice versa

Harmless_Venom
Harmless_Venom

A centralized blockchain doesn't make any sense and only the most ignorant bitcoin supporters will tell you otherwise.

CouchChiller
CouchChiller

but isn't that one of the strengths of bitcoin? decentralized blockchain?

GoogleCat
GoogleCat

Yes, exactly.
If you centralized a blockchain it would no longer make sense to use a blockchain.
That's why you'll never see governments issue their own cryptocurrency.

Dreamworx
Dreamworx

computing revolution and the internet happened in inflationary economies you imbecile. The (first) industrial revolution made 99% of people's lives more miserable than it was before it took place, not really a good example to make

Stark_Naked
Stark_Naked

hurry up and buy POTCOIN before november

Soft_member
Soft_member

computing revolution and the internet happened in inflationary economies
Yes, and they were good things.
I don't understand what point you're trying to make.

farquit
farquit

bitcoin, the currency backed by nothing!

Its inflation proof!

5mileys
5mileys

The point is deflation is absolutely retarded

likme
likme

Are you angrily agreeing with me?

Skullbone
Skullbone

implying being backed by loans and promisses of playing it back, with the legal right to for each USD the government owns me i can lend 9 USD. nice way of backing your money. it would be better if it was backed by nothing but with a transparency on every transfer.

Stark_Naked
Stark_Naked

Unfortunately, Micronesia can not send the PoPo to throw you out on the street and sieze your assets like the US govt

Fuzzy_Logic
Fuzzy_Logic

have diamond
walk into pawnbroker with receipt
5 minutes later walk out with cash

have bitcoin
make account on exchange if haven't already done so and wait weeks for your ID approval
sell bitcoin
request withdrawal
1 week of no signs, just assuming its happening
money FINALLY into account

You're a retard.

whereismyname
whereismyname

see

You have clearly never dealt with Bitcoins back and forth.

iluvmen
iluvmen

Once you have been long enough in the crypto space, you will find that Bitcoin and all other decentralisation projects are just local excitations in the giant hopium field that is technological progress.

LuckyDusty
LuckyDusty

That just defeats the whole purpose of Bitcoins...

If your bitcoins exist in a 'bank account', then they are owned by the bank, not you.

Dreamworx
Dreamworx

what if I told you the US dollar was a pyramid scheme?

Spamalot
Spamalot

Your an idiot.

Carnalpleasure
Carnalpleasure

Hey tales from the cryptards

If you're so smart why base your money on something as delicate and fragile as the internet? Youre some kind of abstract doomsday preppers thinking when the whole world collapses your precious bitcoin address will survive unscathed.

PurpleCharger
PurpleCharger

he thinks if the internet disapears humanity hasn't disapeared with it
The whole economy is based on the internet dumb fuck.

Ignoramus
Ignoramus

Look around. If you think mindless consumerism is good you are up for a harsh awakening.

Fuzzy_Logic
Fuzzy_Logic

The more people realize how much of a ponzi scheme fiat currency is, the stronger cryptocurrency becomes. Now is a good time go get in, even if you missed the early boom, to the currency of the future.

Nude_Bikergirl
Nude_Bikergirl

95% of all bitcoin trading is done in china and only accessible to chinese citizens, make of that what you will

Emberburn
Emberburn

try freezing my crypto wallet retard.

Emberfire
Emberfire

well that's the thing, they will. You think they'll let bitcoin become the predominant currency. hell no. every government will try and create their own digital currency, in fact, that's where money is heading anyway.

Firespawn
Firespawn

95% ? at first i was skeptic... now :
fiatleak.com/

Flameblow
Flameblow

you realise that literally every business utilises the internet in some shape or form...

SniperGod
SniperGod

in 1 minute it was 99 bitcoins transfers on china against 10 bitcoins on USA.

VisualMaster
VisualMaster

i just realized lookint at this : fiatleak.com/ bitcoin price is raising alot. i should be comparing the price of the chinese currency against USD but i have this feeling china is rushing on bitcoin now.

eGremlin
eGremlin

ok what i got : CNY is dropping agains USD and china is rushing bitcoin. we might get a bitcoin raise.

Nojokur
Nojokur

Our money is already digital.

The blockchain is not about digital payments, it's about:

Anonymous, trans-national, irreversible payments and money which cannot be frozen, seized, or printed.

No government on Earth would ever voluntarily accept those terms. Control over money and the ability to enforce taxation is what gives governments their power. They will fight tooth and nail against bitcoin until their last breath.

kizzmybutt
kizzmybutt

they can still trace it on bitcoin. so its not that anonymous. in my country i can only transfer the money from my bank account into my bitcoin broker if i make fill a form with my id and bank info. my daly transfers are like 250 usd maximum. so it would take ages to move alot of money out of my bank. and still i would give them all my info so they could arrest me if i do something illegal. the only way of turning your money really anonymous is making a jump into another currency transfer from the broker into another wallet of that currency and then turn that into bitcoin again. erasing the trail.

Skullbone
Skullbone

Bitcoin is anonymous (at least pseudo-anonymous), you're just buying bitcoin from a non-anonymous source.

Use localbitcoins if you want anonymous coins.

SniperWish
SniperWish

bitcoin is no fun any more.

we need a new form of digital currency!

such as ethereum

New_Cliche
New_Cliche

when will we ever see these days again? it was the big bang of shitcoin pump and dumps.

TurtleCat
TurtleCat

eeh

Stupidasole
Stupidasole

I work for Bitcoin and get paid in Bitcoin, cuckerment can't do shit nothing unless I voluntarily decide to include my BTC gains in the reports.

Once governments get rid of cash, people will work for Bitcoin and buy with Bitcoin: the circle is closed, cuckerment is irrelevant now.

askme
askme

Once governments get rid of cash

Lord_Tryzalot
Lord_Tryzalot

prove him wrong! I wanna see it!

Firespawn
Firespawn

bitcoin definitely has a chance to become a household currency. I bought em with a buddy when they were low and we're sitting on em and making small gains. it's a lottery ticket to me essentially. it would take a lot more media to encourage more of the general public to accept it.its a lot bigger now but still has a "meme stigma". it's alternative is that it gains traction in the black market by becoming completely untraceable which its not.

Boy_vs_Girl
Boy_vs_Girl

test

Evilember
Evilember

buying Bitcoin today is like buying a VCR

there's a lot of better investments to make in crypto nowadays

diversify your portfolio, but no more than 20% of it should be BTC

buy ETH, REP, DGD, SC, SJCX, XMR, ...

Stupidasole
Stupidasole

and POTCOIN!

iluvmen
iluvmen

Buying Bitcoin is like buying Gold.

Buying ETH, REP, DGD, SC, SJCX, XMR is like buying rare earths or some metal alloys that are able to replace gold for specific applications. They may have some big increase in value and maybe are a lot better than Bitcoin for specific applications, but when it comes to best overall crypto currency for storing value BTC is still the boss.

Stark_Naked
Stark_Naked

People like Lagarde has publicly admited she thinks cash will not exist in 10 years, meanwhile nocoiners will keep coping with their dolla bills.

Booteefool
Booteefool

Buy POTCOIN on poloniex. Moon guaranteed

massdebater
massdebater

cash will not exist in 10 years
Not a nocoiner btw. Just doubled my meager holdings on CGA.

viagrandad
viagrandad

it's mostly powered by hopes and drugs
i disagree
bitcoin is primarily powered by fear and insecurity and it's primarily held back by fear and insecurity