Event: Bluepill bubble pop ceremony

If you're so confident why aren't you making millions from shorting Yugioh cards?

>bitcoins are like Yugioh cards

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>They both increased in value over a specific period of time and had a very loyal base of buyers and sellers who traded between each other increasing and decreasing the value during said time

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>but bitcoins and exchanges are safe retard

en.wikipedia.org/wiki/Mt._Gox

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>Yugioh cards

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>you just don't understand the technology, I do and think that it's cool therefore it's worth a lot of real money that was actually minted by real treasury departments

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If you're buying a product in hopes that you can sell said product at a later date to someone else for a higher price than what you paid for it then what you're doing is not called "investing," it's called "speculating." Anticipating profits from market fluctuations is what the vast majority of BTC holders are doing and will sell at the first 10-30% downtick. The only reason the price keeps rising (for now) is because more people are buying than people selling BTC.
What do you think happens in 5 years when no country has given any considerable thought to adoption of BTC? Does it go back to being used to trade Magic the Gathering cards (it's original primary use) or does the price keep floating off into the sky carrying your aspie dreams along with it? Also, what do cognitive dissonance and confirmation bias have to do with investing (this one should be fun for you)?

>inb4: "but this time it's different RREEEEEE"

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I don't want dollars for my btc, thanks tho

You voted for Bernie Sanders, didn't you?

>If you're buying a product in hopes that you can sell said product at a later date to someone else for a higher price than what you paid for it

>implying I'm ever leaving the crypto space
I might adapt to a new crypto though, but for the time being BTC is where to be.

>the vast majority of BTC holders are doing and will sell at the first 10-30% downtick.
Baby's first market reaction.

>The only reason the price keeps rising (for now) is because more people are buying than people selling BTC.
What the fuck is supply and demand? No shit dumbass. You really did vote for Bernie.

I live in Manchester currently and was born in Munich so I would have no way to vote in your elections. Would have probably voted for Trump if given the chance though. I like his Putin-esque suggested policies and overall plan of convincing average Americans that he is "one of them."

Laws of supply and demand describe what happens within market movements, they do not dictate said movements. Real reasons within the market environment cause movements up or down in the price of said market. You're confusing theory with application. You should take some Economic courses once you get to university to help you better understand what you're talking about.

What I mean is that you have to find the underlying reason that more market participants are buying as oppose to selling in order to truly analyze the situation. It's not enough to note the simple fact that more people are buying than selling. You'll pick this up more in a few years after you go to university and start working a professional job.

You're a fucktard. You just debunked your own statement. Supply and demand doesn't describe the "why" but the "how" in price movements.

Seriously consider suicide.

So what happens when the price of something falls while the quantity demanded also falls and the supply increases? Does your American secondary school teach you these things?

wtf are you talking about? If quantity demanded decreases and supply increases the price will decrease.

>Laws of supply and demand describe what happens within market movements, they do not dictate said movements
>you have to find the underlying reason that more market participants are buying as oppose to selling in order to truly analyze the situation

Can you not tell that these two are complimentary statements? Surely you understand that economics is not concerned with the underlying reason which causes fluctuations in supply, demand, quantity demanded, price, etc. only with which fluctuations lead to the next factors fluctuation so market can be understand in a behavioral manor.
Take econometrics once you finish your basic economics courses after you finish American secondary school. It will help you understand these relatively basic things.

So an ever increasing hash rate of BTC combined with a decline in its price and outflow of capital from a shrinking userbase would cause the price to continuously fall? You stated what you said as if it was basic understanding so surely you understand this since it is the same thing only with a little life-application added in?

Holy fucking Christ you're a retard.

Also BTC just broke $1200. Too bad you also had to Bin that Knife! Have to find another way to kys.

>outflow of capital from a shrinking userbase

These things effect price. You think price is independent of this for some reason I'll never understand.

>Outflow of capital from a shrinking userbase
Try focusing on this part:
>shrinking usebase
Which would mean a decreasing demanded quantity of BTC correct? Just making sure you Americans don't lack reading comprehension like you lack basic finance and economic knowledge.

Wtf are you trying to say?

If capital is leaving the asset and less people are interested in investing into it, the price will decline. Why is this so hard?

I was describing underlying factors that are bound to happen to BTC in an attempt to make you understand that the basic laws of economics show that the price will decline heavily over time. Glad you agree that this is not hard to understand, did not realize we were on the same page as I thought I was discussing this with the guy who could not understand the synonymousness of BTC and cartoon playing cards with a large (for a short period of time) secondary market. Apologies.

Comparing BTC to playing cards is a massive false equivalency.

I believe that lack of adaptation of BTC by a major government will render it's over utility to be small therefore it will likely have the same life-cycle as most of those playing card games.
Hype goes up as people buy up more of the newly produced cards while trading (buying & selling) them between each other in a sort of secondary marketplace. Production gets continuously ramped up until demanded quantity falls due to hype moving on to whatever "new toy or card" is which leaves secondary marketplace prices of the product in free-fall. This is the same effect as BTC not being adopted (or really fairly recognized as a currency at all) by any large nation and the demanded quantity for coins falls while the hash rate is left rising (temporarily) making the price fall.
Realization of lack of utility of BTC will leave the price falling to a reasonable level where it should stabilize. I will not pretend to know what a reasonable price for this would be but it should be fixed to an already commonly used commodity so it doesn't fluctuate wildly and isn't as exposed to speculatory fluctuations in price (which could lead to future outflows which would lead to further price dropping).

What are your thoughts on this?

>implying BTC doesn't work without a government adopting it.

Holy shit you're dumb. People in countries like Venezuela flee to bitcoin precisely because governments don't control it.

Well you can't just produce new bitcoins on a whim first of all, there are a limited supply.

Secondly adoption has increased, many, many, many websites accept bitcoin or at least bitpay. There are now bitcoin debt cards as well more bitcoin ATMs.

Bitcoin is beginning to gain traction all over the world, namely China, where people are using it for capital flight.

Governments may try to regulated it out of existence, this is a legitimate threat. So far they've had a lot of trouble in doing so.

We could see Bitcoin become a more popular investment vehicle if the ETF passes. Many people feel its a long shot at this point, but its setting the tone and possible acceptance in the future.

The largest problem with BTC as of right is transaction speeds due to block sizes. So the are issues, it isn't perfect, but to say this isn't an amazing technology is ignorant. It may not be Bitcoin in the future, but blockchain isn't going away.

Can you describe a situation in which it does work without a government recognizing it as a viable currency? This would leave the price in a free-floating state and subject BTC to speculation risk by anyone with a large amount of it selling aggressively no?

Currently no government recognizes it as a currency. Or at least places like the US and China do not.

The blockchain technology underlying BTC accounts for the vast majority of its value in my opinion. If this were applied to something else (say a cyrptocurrency issued by a country with a strong central bank) then it could very well work. I just don't believe that BTC in it's current state (and facing its current obstacles) will work.

Which is why it's current price fluctuations look like pic related. This is "working" using American logic?

Sorry, wrong chart.

Decentralization and no government or bank issue/ownership is what makes it so attractive to people. The market can be manipulated as of right now because the cap is so low, expect that to change in the future.

For someone who touts the "college educated" line so much you don't seem to understand the relationship between adoption and volatility.

The whole point of block chain is that it's the first technology that allowed decentralized digital ledgers to exist by solving the Byzantine General computer science problem. You saying it would only work if it was issued by a government with a central bank authority literally defeats the whole purpose of it. You literally don't understand the first thing about bitcoin.

I used to hear about the relationship between adoption and volatility within the mortgage-based asset backed securities markets back in the early 2000s. Also used to hear about that same relationship about technology/internet stocks in the US equities markets back in the late 1990s. I guess I still can't figure it out.

So there is something in place (as of right now) that prevents aggressive speculative short-selling of BTC by someone with a large pool of it or a pool of a large number of participants with any size pool of it of their own? Like something will step in a stop the price from falling through the floor? Or is the point that it should be able to rise and fall drastically at the users will?

We've seen billions leave the market in a market cap worth less than 20 billion. Shit is the wild west. As the market cap grows, the ability for individuals or parties to do this lessens. No one is asking you to accept the risk. However, fortune favors the bold.

The fact that acquiring a large pool of BTC... actually requires an enormous amount of real world resources?

Plenty of bold men participated in the Dutch tulip market in the 17th century yet fortune didn't favor their choices. I suppose only time will tell which of our opinions is correct. Best of luck with your investments.

So if Satoshi Nakamoto decides to short sell a couple hundred thousand worth of BTC and a few hundred thousand more with a few thousand BTC each decided to follow suit then what would happen? Have you thought about what if people already holding BTC decide to short it (nevermind reasoning as to why they decide this)?

>Dutch tulip market
Stop using false equivalency arguments, its really fucking annoying.

The phenomenon exists within BTC sure, but you're still not seeing the potential in the technology. Luddites always lose, my dude.

The market would take a hit. But think of it from a perspective of someone with a large amount of BTC holdings, you'll have a vested interest to NOT dump it all on exchanges at once causing the price to tank and having many of your coins sold at way below market price. You would sell it slowly over time to get the most $ for your BTC.

I see moar of you are wising up and GETTING THE HELL out before this big plump bluepilled bubble explodes all over the place.

Good on you...

And to all you thinking that now is a good time to get out and hide in alt coins your decision will be regretted as those two will be left stranded.

When I say this thing will pop I mean IT IS GOING TO POP.