When you realize BTC are party hats

I do not think they are doing so. You can not buy these anywhere only trade for them. Jagex also forbids switching between real life money and run escape money. (Whatever)

In a way party hats show what happens in a shitfest of inflation when people choose something else to attach value to. Something with a finite (deflationary) supply.

If you think about it, on earth there is literally nothing except crypto that cannot be made of. One can always create replica's with as much precision as one wants.

Crypto is exempt from this rule. It is truly a limited supply of X with no more ever being made of.

If look at the eternally rising value of party hats it is more then logical to see that crypto is going towards the same path.

This might hold truth if there weren't an endless number of new crypto currencies being pumped out every day. It's not a finite supply if you can create an alernative supply.

That is the same as saying that a certain stock price should be related to how many different stocks are on the exchange

I was playing that in 2003 and I think i just missed the time they were dropping

>tfw I have an old account with a santa hat that I bought for 20 mill

Don't know what to do with that account, I log in once a year or something just for nostalgia

Stock is tied to capital you fucking ape. Stock isn't a commodity, it is an evaluation of a company's overall worth. Crypto Currencies are just a medium of exchange, they also all serve the same function.

Ones that have a finite supply appreciate over time. BTC, LTC, MONERO.

Mostly these but especially BTC since it was the original party hat.

>Stock isn't a commodity, it is an evaluation of a company's overall worth
hahahahahahahahha

If people found a more effective way to exchange real money for drugs, guns and kiddie porn tomorrow Bitcoin would crash and burn. I'm honestly surprised it isn't being regulated by the government yet.

You don't get to laugh at me Cryptofag. I know more about business than you will ever know.

...

>regulated by the government
are you actually retarded.
serious question.

>People actively using Crypto to engage in business on the black market
>Haha you're retarded to think the government would ever step in
Not as retarded as /pumpanddump/ evidently.

But bitcoin is the only one that matters, so alternative currencies are a moot point.

looks like $100 000 per BTC is not some fantasy

but how come so many random people suddenly get rich?

this never happened in the history

First time for everything, chap. The world was also never joined in a global communications network that allowed for near-instant actions between not just nations but individuals, from messaging to marketing.

1) Party hats are a status symbol, there is an element of prestige to owning and wearing them.
2) Party hats are unique inside Runescape, Bitcoins aren't unique inside the crypto-world. Bitcoin is more like a TF2 hat that you can no longer get. It's limited availability increases its price, but TF2 is constantly getting new hats that everyone CAN buy.
3) A party hat isn't fractional.

Still, I agree that Bitcoin will inflate heavily.

It's happened before; gold mining in North America, the discovery of oil fields, etc. Whenever something new arrives, there are those who are lucky or diligent enough to make a killing on it. Buying bitcoin early is the equivalent of buying cheap lands with undiscovered oil or mineral reserves.

1) This is true, but that does not explain their abhorrent prices of 21,000,000,000 coins a piece. It's not like more people are playing runescape, less people are. So why does the price keep rising then? Less people need less status symbols, yet the price keeps growing higher.

2) Bitcoins are pretty unique. Since they where the first coin most/a lot have been lost due to negligence. Same with partyhats. There are santahats which are far less worth. Because there are more. They are slowly gaining since new ones keep getting lost. Yes there is other stuff but one thing is rarer/more recognized then the other. If a normie knows about crypto he will know about BTC. Not some random alternative.

3) Very true, but this does not seem to matter much. If party hats where divisible their price would remain the same just more scattered. Since you still would not have a partyhat. Just a part of it.

1) Because the price increases its prestigious effect, and the increasing prestige associated with it also increases its price. Demand will always remain high regardless of a drop in amount of customers in the market.

2) Granted, but the emergence of altcoins such as ETH and LTC have already, without a doubt, slowed down BTC growth. Who can say what the future holds for altcoins, bitcoins and the crypto-market as a whole? It's kind of like the future possibility Jagex will make party-hats available to be farmed again, which would crash their price; except it's more likely for altcoins to rise than it is for Jagex to issue new hats.

3) The point is that even though a bitcoin can have a high price it will remain accessible. Party hats are inaccessible to a majority of the player base, which increases its effects as a prestige item, see 1. For the analogy to party hats to remain true, a satoshi would have to have such a large price that few people could afford it, which would naturally make 1 BTC un-affordable to even the richest elites.

>Since you still would not have a partyhat. Just a part of it.

There's no difference between owning 0.0005 of a BTC and 5 BTC, except for its value in fiat. Again, owning a full BTC isn't prestigious, whereas owning a full party hat would be.

Okay so either:

- A variant to BTC is created with no decimal points. (Strangely ANS/NEO does this)

- A certain threshold is set for certain amounts of BTC. Ex: the 21BTC club is a clear example of this: "A maximum of 1,000,000 people own 21BTC (or more)" is a lot more prestigious then having say 7BTC.

You do bring up some interesting points:

- BTC is not visible nor can it be shown/hard.

- Due to it being fractional it will remain accessible.

So what are some other crypto's that are not fractional (like ANS)? Some real potential here.

Loads of nerds got rich from early computer and internet innovations.

>what's so special about being a millionaire? anyone can just go work 1 hour at mcdonalds and get $7

the exclusivity is in the quantity. that's why people talk about having 1 bitcoin, or 10, or 21.

fishing lvls?

versionfinal.com.ve/politica-dinero/run-scape-y-el-furor-del-bitcoin-gano-dinero-matando-dragones/

Venezuela economy is so shit that they are playing runescape instead of working real jobs

>but how come so many random people suddenly get rich?
>this never happened in the history

need to hit the books boyo

Conversion to dollars is about 5000 dollars each. The same as 1 BTC but you can't buy fractions, only wholes, you fucking poorfag.

Ya, that's what makes the items rare. Eggs have to be cracked to make an omelette. You're account was chosen by a higher power to be the egg for someone else to enjoy the omelette.

>Granted, but the emergence of altcoins such as ETH and LTC have already, without a doubt, slowed down BTC growth.

>There's no difference between owning 0.0005 of a BTC and 5 BTC, except for its value in fiat. Again, owning a full BTC isn't prestigious

checked, also
>implying owning 21 btc isn't prestigious

apeall nigga, if you cry hard enough and long enough to j mods eventually they might let you back on, it's happened to my friend and he was permabanned. you could go to rune fest to do it and you stand a chance of getting it back, bro youre talking $10,000 plus for that stuff

Just because it's divisible doesn't mean it's not rare.

If you could cut partyhats in two and get half a partyhat they would still be worth a shitload.

There will never be more than 21 million bitcoins. You can say you can create an infinite amount of cryptocurrencies, but you can also create an infinite amount of digital hats on runescape/other games, but partyhats will always be valuable, even if there's a new cooler hat that allows for smart contracts and is also finite or has low inflation like only one hat per year to a winner of some contest or anything, even in those times partyhats will be valuable, maybe the value will grow slightly less.

Same as with golds, you could say there's a finite amount of gold on earth, most of it is hard to mine. But there's a shitload of other metals, or minerals that aren't infinite but far from rare, yet gold, this special metal will always be rare, even if there's thousands of other metals that can do the same.

NEO not having decimals is actually gonna cause problems later on.

ETH undeniably has. LTC is irrelevant.

>If you think about it, on earth there is literally nothing except crypto that cannot be made of.

gold ?

ETH absolutely slowed down the growth of BTC.

Used to own a yellow. Spent my childhood grinding for that shit. Me and my e-bestfriend got the same one and used to roll around with them together leaving noobs in awe. Stopped playing and a couple years later I heard it's worth 1-2k. Went to sell it online and instantly got a keylogger and lost it. Oh well

>he havent heard about asteroid mining

>gold mines on earth regularly go out of business due to fluctuations in price making mining unprofitable

>flying ships to space and back carrying loads of metal will be profitable

ofcourse, over time, there will forgotten wallets with crypto's in it. but won't happen at the same rate as forgotten runescape accounts with party hats in it. it's less common to sell your rares for real money when you quit the game (hence putting party hats in circulation), than to sell cryptos when you stop crypto investing.

anyway i was a grand exchange investor at the age of 13 on runescape. now i am 21, a complete neet, started cryptoinvesting 2 months ago. turned 2.8k (15th july) to 45k. u mirin brahs?

Monero has an infinite supply. It is projected to inflate linearly compared to exponential fiat inflation. But it's not like btc or zec with a fixed supply cap.

blues are like 10b
5m=$1

>>flying ships to space and back carrying loads of metal will be profitable

Moore's law will take place. The rockets and the fueled used to move them 80 years from now will be highly advanced compared to the ones today.

Imagine trying to explain bitcoin, blockchain, and ethereum network to someone in 1937

>If you think about it, on earth there is literally nothing except crypto that cannot be made of. One can always create replica's with as much precision as one wants.

What are you talking about.

I agree with you. Eventually the fed will step in once bitcoin gets big enough to take thier cut and im sure someone will try to regulate it because pumpanddump is too scary and unpredictable for them

Monero will never have an infinite supply. Currency production tails off to ~1% of total currency. When you consider lost coins, it could still be deflationary.

>Implying vehicles have ever adhered to Moore's law
>Implying laws "will apply" and then not apply

>RS3

It won't be infinite, but it will still grow linearly about 1% each year. Below is copied from wiki:

Its main emission curve will issue about 18.4 million coins to be mined in approximately 8 years. (more precisely 18.132 Million coins by ca. end of May 2022[) After that, a constant "tail emission" of 0.6 XMR per 2-minutes block (modified from initially equivalent 0.3 XMR per 1-minute block) will create a sub-1% perpetual inflatio starting with 0.87% yearly inflation around May 2022) to prevent the lack of incentives for miners once a currency is not mineable anymore

...

>completely misunderstanding the point
>vehicles don't use technology impacted my moore's law
>>Implying laws "will apply" and then not apply
Literally what.

This, and I strongly doubt people will "loose" it if it has a very high value. At least it is linear and not exponential so that is pretty neat.

>earth there is literally nothing except crypto that cannot be made of

LAND nigger, LAND

I'm buying a few acres this week, and probably some more towards the end of the year.

It's going to be a long hold, but land will only ever become more valuable on a long enough timeline. Especially land on Earth, it'll still be the best land for a long, long time even once we start to colonize extraterrestrial assets.

Just wait till they start asteroid mining land and dumping it on the market.

World population is declining again or slowing down user. So land is not such a great idea.

its called monero

bitcoin isn't even worth one burning team captain yet

what a joke currency

>mfw elysium and earth land becomes worthless

saved

>used to roll around with them together leaving noobs in awe.

fuck I miss cruising around RS calling people noobs

Our generation literally grew up with runescape. I fucking miss those school afternoons playing it and hanging out with school mates or doing my best to avoid them

Nice. What coins?

>black market uses meme
>implying cash USD isn't preferred for illegal transactions
Yeah all those guys on the corner selling bags deal exclusively in bitcoin. And I wonder how they got paid before crypto existed?

The items purchased with the currency don't ding the actual viability of the currency. We didn't see people distrusting fiat simply because Escobar had tons of it stashed away.
It even makes it more viable because black market transactions are proving that bitcoin works as a medium of exchange.

kek

>World population is declining again

Absolutely not, and probably wont ever barring some global catastrophe.

>Slowing down

Yes, this is definitely happening right now. The industrialization of Africa by Chinese companies is going to cause another massive increase in population as large urban centers start to appear in the dark continent.

Earth land is going to moon. Maybe not in 10 years, or even 20, but if you HODL land now your great grandkids are going to be laughing their ass off from their ritzy orbital habitats around Mars as they liquidate your acreage to megacorps desperate to build new arcologies to house the poor rabble of our cradle planet.

>Implying Elysium was anything but shit hamfisted "Muh 1%" bullshit.

I only care about me being rich. Not some random kid user

>Not caring about establishing generational wealth.
>Not plotting your legacy.
>Not banking on life extension technologies becoming available within your life span.

You aren't gonna make it.

I wonder how many are actually lost already. Even those small bits on exchanges add up. Destroyed harddrives with thousands on them.

If I am rich I will extend my life if possible. Else I will die.

I do not care about anybody else. If I die it's over. You only have 1 life.

I give 0 shits about the kids I put on earth. I want to live forever.

I do not see why legacy would matter if I am fucking dead. And no, I do not care either people "might remember me".

I'm dead either way so it matters nothing.

My willpower is a force that will extend its cadaverous fingers deep into the void well after irreversible brain death.

If no better options come along by then, I'm going to spend my sunset years training a deep learning computer to emulate me as accurately as possible.

Blue is around 20b, white is around 14b.
I don't know the others specifically, but they're around 8b each for the lower 3, and 10b for whatever the middle one is.
Since they're above max cash (System limitation, signed 32bit integer, 2,147,483,647) they're only tracked by players in player to player trades. Which leaves them incredibly open to manipulation.
So those prices may not be 100% accurate, even ignoring rounding, but it's the best you can find.
You could use the official real money trade value. Bonds: Buy other players' membership and shit in trade for their in game money.
As said that's 3.4-8.5 grand usd depending on the hat. But it only works one way, to buy them, since you cannot turn a bond back into $5.99.

Or you could trade black market gold directly to other players, usually on a third party site. That's half the price of bonds. You would HAVE to do this to trade it back to real world currency, such as USD or BTC.
You could get as much as 4-5k USD for a blue, or 3k for a white, rough estimates.

While on the topic, the exchange system SUCKS FUCKING ASS.
It is certainly better than trading player to player for most things. But it is absolutely retarded as an exchange.
No bump because rant.

The way it tracks prices is a great example.
See, it updates those prices roughly once a day at a fairly random duration. To the average value of trades since the previous update.
Not the most recent trade, no, that would make sense. The average, across that random span of time.
Then, it can never move more than 5% in any direction regardless. It is hard capped to that.
That's annoying enough as it is. But JaGeX also manually sets prices for new items to absurd values, and rarely adjusts them.
Thankfully they're just guide prices.
But from 2008 to 2011, you were required to trade within 5% of them. Which locked items up so you couldn't practically trade them whatsoever.

Then there was coinshare. Oh god coinshare. So much inflation and trading trouble.
When killing in a group, you could enable the option to split higher drops into coins, divisible across the team.

Now instead of just instant selling the item to do this, since there's always one instant side (bid/ask) like most any other exchange, it split the item by the guide price and throw the item in at that price.
If the item was trading far above guide price, it would go straight to the highest bidder AT GUIDE PRICE and give the difference back in cash.

But if it's down, it stays in for a while, creating 2 problems.
Since the item's ask price was updated with the guide price, the coins created for the share were not all paid back to buy the item.
It also created a sell wall. Instead of going to bid, they stayed at guide price until people were willing to pay that.