Bitcoin and clonecoins market caps are merely theoretical...

Bitcoin and clonecoins market caps are merely theoretical, because as soon as a nontrivial number of owners wants to convert them to fiat, that cap value immediately falls down to zero.

Then why 10k BTC could barely pay for a pizza while now they're theoretically worth more than $32M? Because speculation.

Every fukkin' day at every fukkin' hour some retarded fag starts a thread about buying some cryptocoin and expecting/dreaming its value to skyrocket.

This is no more than a self-induced large-scale Ponzi scheme, only kept up by an increasing number of gullible faggots trying to enter the game hoping to become rich overnight, that is, wasting their pocket money (fiat money) into bitcoin and clonecoins.

In other words, the entire cryptocoin thing is kept up and running by the steady flow of new retarded gullible guys who willingly pump their real money into the purse of those who sell and convert to fiat and buy stuff (that is, not reinvesting it in cryptocoins).

Since I converted ~$7200 of my cryptoearnings back to fiat money and bought a $7200 motorbike, there are some retarded faggots on the Earth who wasted a grand total of $7200 to pay for my motorbike. And if an asteroid hits the Earth destroying every internet connection and every computer, I wouldn't care because that motorbike is my good ROI.

While the number of gullible faggots is undeniably big, the Ponzi scheme will eventually fail with the last gullible faggots entering the game. The only people willing to buy cryptocoins will be those who actually need a specific set of features - fungibility, anonimity, and so on. Speculation will be difficult and dangerous (imagine a whale making a greedy move).

Btw every fukkin' altcoin was born out of speculation (for example, everyone wanted to pre-mine) including those trying to reinvent the wheel (muh contracts muh anonimity muh program hurr durr).

Historical note: the last mooning before the 1929 crisis was when people started to get loans to buy stocks.

You can buy things with BTC though.

tl;dr, op is a faggot, sage, etc. etc.

t. plebbitor in disguise

Good job, son. You're halfway there. Now all you have to realize is that all of society is a Ponzi scheme and "value" doesn't exist any more than people think it does. Fiat is paper, your bike is a depreciating hunk of metal, love isn't real.

yes.
and this means sucking out real wealth from the cryptocoin market.

you should've bought gypse tears with your shekels instead

The last gullible faggot will be the last person on earth OP.

I bet it will be you ;)

>no coiner still exist
Surprised you haven't killed yourself yet

t. yet another plebbitor in disguise.

fiat money is backed by nothing, but every time you buy something you're outsmarting the system because you converted a nonbacked something to wealth.

this also applies to the real money flowing in the cryptocoin market.

I already extracted more than 7 grands and converted them to a wonderful motorbike.

You are so fucking retatded. It is so obvious you feel like shit for selling. Just fuck off, get out of your house and enjoy your shitty depreciating motorbike you fucking faggot

Unironically this . Fiat is no different from crypto, except that you are forced to use it. All value is subjective. 10000 ounces of gold is worth less than a loaf of bread if that loaf was the last piece of food on earth. Your bike is worth $7200 to you but less than that to me and others.

this. get the fuck off my board you motorbike plebbitor roodypoo faggot. >:)

What an original idea OP!

wow 7 grand ... thats like 2 whole bitcoin , dont crash the market pls your volume is too big

>you feel like shit for selling

go waste your pocket money, betamanlet, and don't stop envying me because I outsmarted the system to some extent, while your wealth didn't yet produce significant ROI (and I mean "something in your life", not just numbers on computer displays).

I literally extracted the bike from the system.

I feel like a gambler who entered the casino with $100 in his pocket, and then exited the casino with $200 in his pocket plus a 7 grand brand new bike... while you people are still at the tables with lots of fiches.

You may be patting yourself on the back for buying a bike, but bikes are for kids...

t. Paying My Rent With Crypto Gains Since Last Year

>10000 ounces of gold is worth less than a loaf of bread if that loaf was the last piece of food on earth

true. this is why you should not wait that loaf to become the last one in the world.
Life is now.

>Paying My Rent With Crypto Gains Since Last Year

that would be even better than my bike, if true. Extracting real wealth from crypto.

That thing has a name: "successful speculation". Indeed, a number of gullible faggots is actually paying that rent, without even knowing.

They'll just sit on their losses and think: everytime I buy a coin it dips.

> Since I converted ~$7200 of my cryptoearnings back to fiat money and bought a $7200 motorbike

Reporting you to the IRS for not paying your 15-25% in taxes faggot

why you so sour? better sell your depreciating bike and BTFD

>I literally extracted the bike from the system.
You extracted $7200 of value from the system. You then used that value to pay for your bike.
>I feel like a gambler who entered the casino with $100 in his pocket, and then exited the casino with $200 in his pocket plus a 7 grand brand new bike
Because that's exactly what you did. "Gambling" is just parking value with a large risk/reward ratio. "Investing" is more educated gambling, with a smaller risk/reward ratio. Fiat currency is where normalfags park their value so it doesn't fluctuate too much, while you decided to take some risks and made out with more value.

Unless you bought your bike directly with crypto, you bought it with fiat (you did). Fiat is the same. People trust the USD/EUR/CNY, so it has value. If it didn't have value, it would be Venezuelan or Zimbabwe-tier currency, which is only as valuable as the paper it printed on. This is not a difficult concept.
>paying rent
>not a mortgage or lump sum buying property

Nice just bought 100k bread.

I imagine you flip burgers while smugly thinking to yourself "teehee, I'm being paid just to do something that anyone could do!"

Not directly though and it's always more expensive than buying via fiat because the seller has to convert the BTC to fiat through an exchange.

Yes but it's never gonna happen cuz crypto > fiat

theres one non retard left on Veeky Forums, bless you user

>cashed out 7200
>spent 7200

lol, dis nigga forgot to pay taxes

>$7200

Nigga I make that in two days as a Canadian plumber.

You sound like an uneducated fool OP. Bitcoin is being adopted more and more. By fiat from all over the world, and it is only JUST passing 50,000,000,000 market capital. If you bought btc right now you are practically assured of a good investment.
We didn't have the internet on 1929. We also didn't have the ability to move our funds nearly instantly (compared to back in the day)

When btc hits 10k I'm sure you'll understand how naive you were.
Good luck with that dystopian motorcycle wonderland you'll be waiting for.

billionaire families and firms trying to privately buy millions and millions worth from blockchain companies
and you think its being propped up by neets with spare change...

a new era is coming. enjoy being poor.

>buying a depreciating asset with a deflationary paradigm shifting technology that's up +452.46% this year.

you made a huge mistake.

op doesnt say what bike it is, probably embarrassed its a shitbike
no liter no peter

DELETE THIS

SERIOUSLY, WHY THE FUCK ARE YOU TRYING TO MAKE US LOSE MONEY

DE
LETE
THIS

If that were true then how do you get vendors that offer 15% off when purchasing with BTC through amazon?

good post user i like it

Stay poor, faggot.

you have nigger tier logic

I sold 30,000 USD worth so far and still have 21.5 coins left

Only a true moron sells their appreciating assets to buy depreciating ones though. My 30k is either going to buy the eventual dip or buy other appreciating assets

I stopped reading in the first paragraph when you said that Bitcoin could fall to zero.

Bitcoin's value comes from the mining equipment that is invested into it. Nobody would sell it for less than it costs to produce.

heh, im actually trying to get loans on every bank to put into crypto, so sell sell sell!

>Bitcoin and clonecoins market caps are merely theoretical, because as soon as a nontrivial number of owners wants to convert them to fiat, that cap value immediately falls down to zero.

Yes? That's the same no matter what you're trading. When a traditional stock moons by 100%, you realize that it's only a very small percentage of the total outstanding stocks that were actually traded at that value, right? If everyone rushed to sell at the new higher value, the value would obviously crash.

jd bullion, the world's largest retail supplier of bullion, is cheaper to buy gold and silver with bitcoin than fiat.

get BTFO retard

>a nontrivial number of owners wants to convert them to fiat, that cap value immediately falls down to zero.


Yes, this happened during the ETH flash crash. Someone sold enough ETH to fill every bid in the order book.

Within minutes the price was back to where it was.

So I guess technically you are right if you have enough BTC to sell into every bid on every exchange you could sell all your BTC including filling my order for 10,000 BTC at $0.50 for which I would be eternally grateful

Speculation is just beginning for BTC 1.8 million dollar BTC in 10 year

I just realised that crypto is essentially an MMO version of Prisoner's Dilemma, and everyone else is maining Pink Wojack

>motorbike

Lmfao hindsight will be a bitch, nocoiner. Suck my cock.