Why would BTC ever go over 5k??

But how do you get your bitcoin out before the collapse?

Do you think if there is a collapse, you can just login to your wallet and withdraw somehow?

Apple one is backed by something which is an actual company. Bitcoin is backed by literally nothing

bitcoin is backed by its blockchain technology which you are too much of a brainlet to understand

That's what every single person whose seen the numbers and is bullish on Bitcoin is saying, because its just basic math. The only unanswered question is how wide this paradigm of asset class can go.

I haven't seen a concrete answer to that so assuming that it's going to grow at least for the near future is not some I'm going to bet against. Not investing is betting against the market - if you can't see the end of it, assuming growth is the logical conclusion.

Bitcoin is backed by myself and all these other people

go fuck yourself

WE ARE LEGION

The fact that you think a currency needs "backing" shows what an emotional retard you are. Bitcoin is a protocol with well-defined expectations. That certainty gives it utility.

What backs gold, figgot?

short it then, faggot

put your money where your stupid mouth is

Even that JP Morgan faggot said it could go to $100k

There is another fork coming, what will happen?

Bitcoin is backed by all cryptocurrency that use its blockchain technology as a basis for whatever it is they do and will only grow over the next few years when more and more of these technologies are up and running and used by average people.

Let's be 100% honest here. When the fuck is bitcoin ever going to reach Apple's market cap? 25 years, 50 years? Too convince Grampa and Gramma to buy Macbooks is a whole different ordeal then to convince them to buy "virtual currency".

5 to 10 years or less, since we're being honest here

>25-50 years
Grandma will be dead

SFYL.

You don't, fuckwit. BTC is worth MORE after the collapse. Think about the total number of dollars that will get printed to spend our way out of the next big crisis. Instant inflation. BTC is a hedge against inflation bc the supply is limited.

Here is basic economics for you op. USD is jew funney money with infinite supply and therefore todays dollars are worth 1 cent in the future, just like in the backtest proofs. btc has finite limited supply and functions as international money therefore btc will equal 400k usd in the future. you dont have to believe anything. just watch

How can it be that soon when there are countries TODAY debating on whether or not to ban bitcoin exchanges. While other governments have no legislation or have no idea what bitcoin is? Be 100% honest. Yes we all hope bitcoin is worth nearly $50,000 in 5 years, but we know that's impossible.

Listen buddy

If there is a collapse, wont the internet stop working?

The power grid goes offline???

I keep wanting to invest in BTC but I keep putting it into ICOs. Though I guess if the tokens 5x-10x then I can just dump them and buy more BTC than I could have originally.. So I guess I might not be fucking it up?

hurf durf who gives a shit. the more btc gets banned the more people think it's awesome and the more it's value goes up

>t. bootlicker

They're talking about a financial collapse like 2008 or the great depression. Not the fucking apocalypse.

>kek

I talked to some discord guys a while back and they think a collapse of the power grid and resources will shut down

Economic collapse = no jobs?

Who will work at the internet companies, who will keep the power running and without security issues?

Not even going to bother writing an explanation why you're all wrong since you're all so sure of yourselves. Remember, just because you want something very bad doesn't mean it's the truth though.

Yeah, because in 2008 the power grid shut down and nobody had a job..

fucking retard

go to bed, grandpa

Don't invest in BTC, if the power grid shuts down then surely you'll be able to withdraw all your cash from the bank.

Oh wait..

Good point

I'll stop worrying about the Apocalypse

"t. brainlet

Biz is fucking hopeless.

why the fuck are you even here lol

...

>Remember, just because you want something very bad doesn't mean it's the truth though.
Same to you. :^)

Hoping for some real discussion. I got skin in the game too. But the dillusion some people here have is crazy.

>making bitcoin illegal would just make it more awesome and drive the price up

What a fucking joke.

This thread needs to end.

What guarantees bitcoin will have a limited supply?

What guarantees the price will keep rising?

What's to stop the secret bitcoin creator from just creating more currency while you chucks are left holding the bag?

>>making bitcoin illegal would just make it more awesome and drive the price up

literally the truest statement I've seen on Veeky Forums since forever

Care to explain what backs USD user almighty?

>inb4 the government

Also, you are asking a question that has been asked millions of times here. It sure was asked since you were too young to lurk on Veeky Forums.

Please downplay the technology behing Bitcoin and the billions of dollars of free media it has gotten and still getting for years, making it a household name among normies. Please spare us your counter-arguments against those.

You think BTC wont go over 5k?

If the US made all cryptocurrency illegal tomorrow. It would be worth 500 dollars by 2018.

Grammar.

Ofc it's going over 5k. Idk why this conversation needs to take place.

k

Does the federal government actually have the authority to do that?

They would have to break into people homes and force them to hand over the private keys.

When this happens violent revolution is the only option left.

Crypto market cap is not the same as stock market cap. It's notlike there's millions of lost apple shares in frozen accounts that can't trade

This is backwards and stupid. Where would the marketcap ome from then? And the price is being constantly determined based on the movement of this magic number, the market cap?

The price is the what Bitcoin's selling for now. Multipy by supply for marketcap.

Market is a function of price and supply, saying it's the other way around is asinine.

.....which is only making Bitcoin more valuable

en.wikipedia.org/wiki/Inverse_(mathematics)

REEEEEEEEEEEEEEEE
DISBELIEVERS IN THE 1 MILLION DOLLAR BITCOIN GET OUT
YOU'RE NOT WELCOME HERE

This whole thread is asinine.

lol you faggots are so fucking new it's unreal

My my, how little understanding there is of basic economics on Veeky Forums. Color me shocked.

Bitcoin is a digital asset. It exists as bits of data on an electronic network, nothing more. It is worth money because people BELIEVE it's worth money. It has no intrinsic value beyond that. It can be copied and mimicked to infinity, and if the power goes out tomorrow, all your wealth goes *POOF*.

Conversely - companies like Apple, or commodities like gold, are tangible. Apple owns physical property. You can't make more land. Gold is inherently rare throughout the universe. You can't make more of it.

Private tangible property and irreplaceable commodities have, quite literally, thousands of years of history backing their value. Bitcoin has a decade.

It's fine to invest in Bitcoin to make money, but don't be so deluded as to think it's impervious to having zero value. It's not.

Why do nocoiners constantly feel the need to show how ignorant they are by arguing about things they refuse to understand?

Please share your opinions on the fact that if anything as popular (and valued) as BTC is deemed illegal in one country, another one jumps on the opportunity.

Illicit money is forbidden in vast majority of the world, except for a number of countries whose economies are based solely on laundering money. All of these countries have average to above average economies. Same goes for tax havens. If you care, you'll find that the amounts of both illicit money and untaxed money is rising each year, not dropping.

Cat's out of the bag and making it illegal will not work.

>Does the federal government actually have the authority to do that?

Of course they do. But they wouldn't come after you directly, they'd target the institutions that accept BTC as payment.

Your bitcoins won't do you a lick of good if you can't spend them anywhere.

And sure, you could start a "revolution" over it but who would back you? 99.9% of the planet doesn't know or even give a flying fairy fuck what a crypto-currency is. If the government decided to ban them, realistically your only option is to sit and sulk about it.

>You can't make more land
yeah you just start building vertically

>Gold is inherently rare throughout the universe. You can't make more of it
you've been throughout the universe huh?
also, we're going to be able to make literally everything once we have microscopes powerful enough

Bitcoin is a limited asset that I am in complete control of myself. The gov can't take it away. I can transfer it for 5 dollars anywhere in the world without going to a bank. Aside from new coins it can never be diluted.

>You can't make more land.
Oh but you can. At the very least, you can move it around for creating value. You obviously don't live in a country where housing and construction are among the major forces that drive the economy. Filling up the sea to create property onlooking the seaside is a very common thing.

> It exists as bits of data on an electronic network, nothing more.
You also don't have a bank account I guess.

Look I can do that too:
en.wikipedia.org/wiki/Market_capitalization
>Market capitalization (market cap) is the market value at a point in time of the shares outstanding of a publicly traded company, being equal to the share price at that point of time times the number of shares outstanding.
Go on any exchange dumbfuck and look, the price is the last tx. IT'S THAT SIMPLE. Supply and demand determines this number. Multiply by the number of coin for marketcap.

Real holocaust when?

>yeah you just start building vertically

You are still restrained by the amount of physical material it takes to build the building, dumbass. There is a finite amount of resources on this planet - THAT is why they have value.

There is nothing to stop anyone from "creating" Bitcoin 2.0, 3.0, and so on.

>he still doesn't understand the concept of decentralization, and the fact that countless institutions in many industries are already obsolete dinosaurs that are on their last legs

stay poor, brainlet boomerfag

>Taking land from one place and moving it to another = creating more land

Are you stupid or what?

>You also don't have a bank account I guess.

Of course I do, and I don't claim the "money" in it has any intrinsic value either. It's all fake.

>boomerfag

I'm 32, numbnuts. Quit being a fruit mold-mustache millennial and recognize the basic forces at work in this world. Government and central banks run the planet. If they wanted cryptos gone they could make it happen inside a week. They have all the money, all the legislators, and all the militaries to back them up. A bunch of sniveling basement dwellers aren't going to change that.

Word.

But they run the world in a certain way to minimize risk of uprising and etc. Outlawing Bitcoin would be inconsistent with their style of rule but beyond that, unnecessary as they think they can control it without doing so.

I dunno if you know this, but when the market cap goes up, so does the price

....because of supply and demand

You honestly think the world would rise up in open revolution if they banned bitcoins?

Holy shit man...

An old soul born in the wrong century, eh grandpa :^)

Short it then you fucking clueless retarded faggot. Put your money where your big stupid fucking mouth is.

I don't understand your point

and there is a Bitcoin 2.0, 3.0, and so on; they're called "alts" and there are over 1000 of them

If you're 32 you're also a millennial...

The market cap goes up because the value of every coin just went up. This is the most basic dynamic of any market.

Go read some spiderman comics, kid.

Read spiderman.

I am by purchasing Bitcoins.

Even if I'm 95% sure it doesn't mean its the only thing I'm going to get. I need money to do other things today as well.

>>this

I can only take so many of these posts

Bitcoin's market cap goes up when people buy Bitcoin

we're literally talking about the same thing, except I'm trying to explain there's an inverse to the math

..........which is why I linked you that Wiki url on inverse mathematics

Clearly you're too dense to understand what is being debated here. I'm not saying that Bitcoin has no value, I'm saying that it has value for entirely different reasons than you're claiming. It's no different than fiat. Faith in both systems is the only thing that holds them together, beyond that NEITHER of them have any intrinsic value as both are "created" from nothing.

I'm sorry basic common sense eludes you.

so then you're not even arguing a fucking point??

>I don't understand your point

which part?

>and there is a Bitcoin 2.0, 3.0, and so on; they're called "alts" and there are over 1000 of them

I'm aware. And the market cap of all those alts added up exceeds bitcoin twice over and is increasing. This is what I mean with intrinsic value. Bitcoin is not unique and can be replicated. You can't make a Gold 2.0 now can you?

Short it then, right fucking now,

you fucking fuck.

And is saying to short it then, if it has NO VALUE

HAHAHHAHAHAHAHAHAHAHAHAHAHAHAHAHA
....
*takes deep breath*

BWAAAAAAAHAHAHAHAHAHAHAHAHAHAHAHAHAHA
go back to your jewtube e-celebs faggot

which is why I don't hodl like a retard and day trade instead

I'm arguing against those who think "muh blockchain" or "muh decentralization" or some other dumb shit is what gives bitcoin it's value. It's not. It's the basic fact that you BELIEVE it has value and there's a bunch of other people who agree with you. Literally no different than fiat.

It's ALL fake money.

It's all part of the motion in the ocean bb

>"created" from nothing.
1 BTC takes an extraordinary amount of electricity to mine, and there are a limited number that can be mined. This makes it different from FIAT.

why would it ever go above $1? and yet here we are

Thirdly it's not issued by a govt.

the blockchain and the fact that it is decentralized is why it has value in the first place

THEN everyone hopped on board

>Literally no different than fiat.

Is this a troll or are you actually this dumb

That's what gives everything its value. You need to look at what is specific to bitcoin/crypto. It's actually a great product and people have reason to speculate on it beyond just blindly following memes.

*sigh*

You tards don't get it. If it can be replicated, it is NOT unique.

So what if that particular compilation of code only allows for 21 million coins to be created? What stops me from writing a new code that makes 21 million more?

Protip: Nothing. Hence altcoins.

Can you take a bar of gold, write some code, and magically POOF another gold bar into existence?

Nope.