Help me understand
We all are trying to get rich off of bitcoin. Say bitcoin goes up to like 50k. What happens when everyone is trying to sell this shit off for regular money......essentially we are only holding to sell of for fiat. So doesn't that make bitcoin pointless.
Other urls found in this thread:
np.reddit.com
pastebin.com
twitter.com
once btc becomes valuable and mainstream enough, people will accept it as payment everywhere. no need to cash out.
>essentially we are only holding to become multimillionaires. So doesn't that make bitcoin pointless.
I guess that makes every investment pointless then
Never leave, that's the point. Fiat = old & bloated. Crypto = shiny & new.
Bitcoin doesn't just "go up" to 50k, it's sold up to 50k. We're selling on the way up. There's no magic number where everyone will sell at once.
You finally figured out that Bitcoin is a gigantic pyramid scheme. The trick is to sell before others do. Otherwise, you'll end up at the bottom of the pyramid holding bags.
if you wanna sell your precious BTC for worthless paper, go right ahead
I set the alarm to notify me at $400,000 per bitcoin
Thats how sure i m of bitcoin future. Ps;i only hold 230 dollars
>essentially we are only holding to sell of for fiat.
When crypto is as easy to spend as fiat, and banks are starting to fail, you won't be asking this any more.
even $230 worth of bitcoin will be a respectable sum in a few years time..
Exactly, the more you think about it the more you realise its an enormous ponzi/pyramid and confidence scam.
There are literally no real world use cases on any major coins.
The only reason people invest is for monetary gain. Unless there is anything useful then you're relying on greater fool theory, hoping that there are people more stupid then you to sell your bags to.
It's completely unsustainable, it will probably carry on like this till 2020 by which point all it takes is one trigger event for the whole house of cards to fall.
I look forward to that day.
Yea I find it funny that everyone on here is convinced they'll be a millionaire. The irony being they are probably right except the only lambo a million will buy you is the matchbox kind.
money is the bubble that never pops. please read up on how your precious fiat money is created and what gives it any value...
You do realize that fiat is the same exact scheme except we are compelled by a gun to trade with it. That will end one day.
thats only true for altcoins
blockchain is the future for currency
Let me know when I can use cryptocurrency to do anything apart from launder money and buy drugs.
Fiat is backed by government and by consent of the public. It is used to transfer value in 99.999% of cases.
No one invested in crypto really understands or cares about the potential of the technology, they just pretend they do to draw in new investors (pyramid scheme anyone?).
They only care about the possible monetary gain, and when a trigger event happens or investors realise en masse that greater fool theory dictates the value of cryptocurrencies, you'll all be playing a game of hot potato, except where the potato is your life savings.
kek.
begone, boomer!
no one here cares about your antique world views. soon you will realise we were right all along and cry yourself to sleep while you polish our lambos
Crypto has the potential to make Banks disappear.
Imagine credit card companies going out of business because they can't compete with feeless instant transactions.
You can literally spend bitcoin on anything you retard. I've gone grocery shopping from spending bitcoin.
>Say bitcoin goes up to like 50k.
Why sell at 50k when you can sell for 60k?
Doesn't it make you suspicious that so many ICO's are complete trash. Back in July there was ICO mania (no pun intended) with almost every token going 10x or more, with absolutely no real app or program backing it.
People realised that they could earn millions of dollars in crowdfunding by doing ICO's. They then designed products which didn't actually solve a problem or make anything more efficient using blockchain (compared to standard tech), they just did it for monetary reasons.
This should be a huge warning sign to anyone who invests in this gargantuan pyramid scheme.
No you didn't. Your card transferred BTC to USD or whatever currency you use and then completed the transaction, just like a normal debit card.
This is just another example of creating a problem where non exists, just for the sake of using blockchain technology.
I actually just feel sorry for you because you lack the ability of foresight. People will certainly lose wealth in crypto but if you keep your eyes open and aren't foolish you should be well positioned by the time the powers that be have officially given up and accept the new paradigm.
>blockchain is the future for currency
Blockchains don't scale up. The fixes are makeshift and don't really address the problems in the long term. It's good as toy money, but for practical use, it doesn't work.
I agree that lots of ICOs were overvalued and people wanted a quick flip. That doesn't change the fact that blockchain itself is the future, though....lots of good and bad projects. Only the good ones will survive longterm
> There's no magic number where everyone will sell at once.
You're unfamiliar with the concept of a bubble.
And the saddest part of this whole thing is that this is a zero sum game. For every dollar you gain someone will lose one. Reading stories about people killing themselves and leaving families behind because of losing lifetime savings to crypto are fucking depressing. Really want to leave all of this because of shit like this sometimes, but I guess I'm just too addicted to this kind of gambling..
At some point US will definitely ban crypto exchanges or regulate the shit of them, like China are currently planning to do.
You do realize that the US has over $100 TRILLION yes with a T in unfunded liabilities. Yet you're going to try to point out that cryptocurrency is fraudulent? Go read "The Creature from Jekyll Island" if you want to understand how fucked the dollar and fiat in general really is.
If they were stupid enough to lose it all they deserve it.
the same applies to buying stocks and to general life. for every winner there must be a loser by definition. if everyone could be a winner then we would all be winners. whats your point?
Learn how blockchain work, dude. It's not the best kind of database and got lots of problems. It's too slow and impossible to scale for the worldwide usage.
The Tangle is though.
>The Creature from Jekyll Island
This explains a lot, you take your cues from a guy who argues that cancer is a nutritional deficiency, is an HIV/AIDS denialist and believes the actual geographical location of the biblical Noah's Ark is located at the Durupınar site in Turkey.
Get off the koolaid, it's hard to take you seriously when you cite shit like this, it kind of proves my point about crypto being a pyramid scheme for suckers.
This. Like I said all it takes is one big trigger event and the house of cards begins to fall.
You sound like you you're self aware, which is good. You could probably try making good money then cashing it before BTC goes to 0.
Alright nocoiner, explain how btc hitting 50k pops this "bubble."
>Reading stories about people killing themselves and leaving families behind because of losing lifetime savings to crypto are fucking depressing
Where can i read those stories? I really need something to cheer me up after the last two weeks
It seems people are misunderstand things here.
BTC does not go up, fiat just goes down.
The reason why Gold becomes more valuable is because the inflation is less then fiat.
BTC is even more extreme on this point with deflation.
You do not sell your BTC to fiat ever, just like you never sell your gold. For reasons mentioned.
Betting on BTC is betting against fiat and metals basically.
>Fiat is backed by government and by consent of the public.
>Fiat is backed by government.
>Fiat is printed by government.
That seems more correct user.
I'm putting my savings into bitcoin because fiat is an inflationary trap and I wanted out.
People will do the same, then others will accept as payment.
problem is bitcoin is slow as shit, other cryptocurrency is more advanced. when will btc be replaced?
Crypto has no measures against fraudulent/illegal transactions. They can't be undone. This makes it perfect for exit scams, extorting money, and money laundering.
It doesn't make anything I said any less true. I don't really give a shit about convincing you. I'm just trying to explain why you're being shortsighted. I'm prepared to deal with the consequences if I'm wrong. I didn't put in any money I need to pay bills. If I lose it all I lose it all. Just like any investment. Are you prepared to deal with the outcome if you're wrong? In 10 years if BTC goes to $100,000 or more will you be able to sleep when you know you could have invested when it was a fraction?
Exactly, this is another reason why it won't become adopted on a large scale.
People always talk about it as a currency, but why would anyone ever spend any of it, knowing that it has a limited supply and is deflationary. It would be like selling an Apple share in 1970.
No one will sell it, so you need new investors coming in.
If this doesn't set off alarm bells you shouldn't be anywhere near your money.
This fulfills all the criteria for a giant ponzi scheme.
That is why there hasn't been mainstream adoption. People are working on this problems, the free market is a wonderful place.
>No one will sell it
People are selling it right now. Right this second, even. Some people are cashing out, some are buying other coins. Some are even trading BTC for items or buying services like programming.
This is not true.
I actually care about the blockchain technology and believe in it.
I do NOT advertise Bitcoin to my friends and try to make them buy. As a matter of fact, I'm always trying to FUD my friend so that I'll have more BTC than he does when it's worth millions.
Please, don't buy it.
They are selling it for other coins, with the expectation that they will earn more BTC in return, due to greater fool theory.
Only 5% of investors ever "spend" there BTC without any expectation of getting more in return.
How many people buy gold and then go on and buy something with it? see how dumb your argument is..
Because people will sell to protect themselves from potential massive losses? Even if they want to rebuy when everyone sells it can crash everything really bad.
Well, at least you realise that it will never be used as a currency, and only acts as an illegitimate store of value.
Now return to what I said earlier, all it takes is a big trigger event for all the retards who have been investing since 2013 to dump their bags and the party is over.
>gold is a ponzi jew
>Only 5% of investors ever "spend" there BTC without any expectation of getting more in return
I don't know about that.. but that makes me think that the bubble just won't pop, because if that number is true, then that means that the vast majority of people are counting on BTC being worth hundreds of thousands each and are holding with iron hands.
youre old as dust ya friggin kek
>thinks fiat will exist when bitcoin hits 50k
It is because of free market the reason that BTC's problems won't be solved. You have a group that wants the status quo, a group that wants privacy, a group that wants better security, etc. Ultimately, because crypto investors/miners are driven PURELY by profit, they don't really care about BTC's issues or turning it into usable currency and would rally against any changes that would potentially decrease its speculative value.
Which sub-saharan country do you hail from newfriend?
>There are literally no real world use cases on any major coins.
>2020
>travelling abroad
>driving through a strange city at night
>suddenly another car pit manoeuvres you and you're staring down the barrel of a gun
>"da money, give us da money"
>you hand over your wallet
>"not enough, motherfucker, we going to the bank"
>force you to ATM to make withdrawals until nothing left
>"have a nice day motherfucker"
>go to internet cafe
>transfer 1 XMR to fiat
>bank balance back at $5k
>flying out of the airpot
>sketchy police chief pulls you out of line
>"please open your internet banking sir"
>open it
>"Ah, your balance says $4500, that happens to be the exact fine for dealing drugs"
>Shows you a large bag of powder and places it on your bag
>Pay him the $4500
>Transfer 1 more XMR
>back to $5k.
>get on with your life
>Fiat is backed by government and by consent of the public
Only the former. Fiat is backed by violence. Implicit violence empowered by the state.
Crypto is backed by consensus. It is by definition far more democratic than fiat as it is opt-in.
Yeah, the consensus of 0.001% of the world.
The overwhelming majority of people don't care about spending weeks signing up to exchanges and making their security top notch in order to buy shilled coins from NEETs.
Basically this. In my city (dubai) you cna already buy houses with btc, same in canada I think. You can buy cars ( lambos and mclaren dealership accept btc and eth also I think).
I do recommend getting some money into cryptos.
I've been thinking about it for some time,I'll never think of it as a store of value but just drop 2 months worth of salary in it (salarycuckwageslave)
I have a strong confidence there are many many retards with 0 grasp of any of the warnings you are giving willing to multiply my sheckels.
I too am against fiat as probably so are you,even if people on this board think if you're against cryptos you must love fiat it usually means you have seen the failures of fiat and even those of cryptos.
My advice is don't put all your bacon on cryptos for your own sake anons and diversification in cryptos is like holding yen dólares and euros as a way to diversify it can work if it's a local issue it will just get you fucked if it gets bigger.
This: pastebin.com
Are stocks and gold pointless just because we will eventually sell them for fiat? No. The point is to either preserve value or achieve some returns. Selling back to fiat is totally irrelevant.
Yep. This.
it will replace fiat, getting in early lets you accumulate. If bitcoin succeeds goods and services will be priced in satoshis
Holding till the lambo dealership accepts BTC
I don't wanna make a new thread so I'll ask here:
Do you really think government, central banks and the jews will allow this to realize its full potential?
I mean central banks, Rothchilds and the jews pretty much control the world. Wars have been waged and millions of people have died because their status was in danger or some country was defying them.
And before you call me negative, I fucking love the idea of crypto and have indeed invested in it. I just think it's too good to last, governments are already pushing against it. Same with the Internet - when something good comes along that upsets the status quo and makes them lose control over people, they start pushing more and more for censorship, regulation and outright bans.
The goal is, once Bitcoin/crytpos becomes worth millions, you're not going to have to sell them for fiat
It will be the other way around
It has no attributes of a scheme
It's the most freely traded asset on the planet lol
The rise of the price proves that more and more people own Bitcoin. This means that more people can receive and send Bitcoin. That means more people can trade Bitcoin. That means you don't need another currency. That's why the bankers are in panic mode. They are one more crisis away from people turning to cryptocurrencies instead of banks. Would you rather own Bitcoin or Venezuelan bolívares?
Ok so just say you're a communist and you're here to sell us on all the great products the state has to offer.
>Do you really think government, central banks and the jews will allow this to realize its full potential?
Asked like a true slave.
>trying to get rich
You will not be rich but you will not become slave in modern world
Buy and hold Bitcoin- it will make you survive
Just realistic. You take things for granted, until they are taken from you. Shit is great until it isn't. They did far worse things then banning or heavily regulating and tracing crypto trade.
I'd like to see nothing more then abolishing central banks, and world switching to crypto. And not just any crypto, I mean truly anonymous, free, by the people, for the people. But when something sounds to good to be true, it usually is.
My point is, we determine whether they take it from us. Either we stand up and risk their wrath or capitulate. Like the old adage, freedom isn't free...it's worth like 4 ETH.
I don't know how it is in your country, but even in shithole Romania, people accept BTC as a a payment method for buying real estate and cars.
You can rent out property in london with BTC aswell.
They're the ones controlling this. They're planning to make Bitcoin and litecoin skyrocket in price to be the currencies for the NWO. Also watch out for Iota.
You can already buy lambos with BTC, imagine the possibilities in 2027.
No need to ever sell.
It's ok gramps, go to sleep.
by this logic stock trading is also pointless
You will be rich if you hold 21 BTC in 5 to 10 years, it's a physical certainty.
i can't stop staring at her beautiful face, it's unironically been almost 10 minutes now
You can still fuck girls like that, if you get in on the winning team.
This meme has been the biggest pumping tool ever.
I'm certain that anyone who follows it doesn't think too deeply about why it is bad advice.
every country that isn't the world reserve should want bitcoin as it prevents the theft of their production through inflatio
At the moment the USA gives you bonds for goods then the us inflates its monetary supply. You must also buy US dollars to buy oil for your country.
The chinks are the most against bitcoin because they are likely to be the next world reserve currency. Venezuela starting selling oil for yuans this week. This situation also presents the idea that the us may get behind bitcoin if they cannot maintain the USD as the world reserve currency
China has already banned bitcoin and the FUD has already been priced in, all for what? Look at the fucking price mong. Banning BTC is useless, rich people use OTC markets anyway.
Remaining a nocoiner has sure been the best advice.
>We all are trying to get rich off of bitcoin.
You will not become rich, but Bitcoin protect you from Slavery
There are already real estates that accept BTC for property and handle the transaction to fiat themselves so if BTC does hit 50k I'll be buying my house with BTC. If by then the seller is happy to take BTC it's great but if not the agent handles it.
Also the same could be said of gold, most people trading gold are only doing so to get more fiat with only a tiny percentage believing the system will collapse and shiny metal will be useful if that happens.
Keep that to yourself. Tell everyone how revolutionary it is and how "when it's ready you won't have to sell it, you can spend it". Then when it hits 20k cash out and buy yourself a lambo. Laugh at normies still holding btc
>every country that isn't the world reserve should want bitcoin as it prevents the theft of their production through inflatio
holy shit people really believe that other people will risk everything for bitcoin
jesus man hodlrs cult blind faith is insane
I have about 5 bitcoins in total cryptocurrency value
Is that enough?
I buy more each time I get paid and want 21 eventually
Not sure if I'll have time
We've watched it go from 5 dollars to 5 grand while every single media baby Boomer and bank has shut on it the whole time
Why wouldn't we?
the world's been indoctrinated into monopolistic central kiking systems so anything that deviates from usurious status quo is considered not kosher
it's a stupid point of view what you laid out in OP because the same could be said for every investment ever made
Bitcoin isnt banned in china you numbnuts.
They closed exchanges and shut down ICO's temporarily while they sort out licensing for them.
You can still buy bitcoin from an actual irl shop.
All the big mining farms are operating as usual.
If anything, news probably helped china to accumulate.
As a former goldbug... people trade fiat to get more gold.
They dont trade gold to get more fiat.
What is the endgame? Not many places accept gold as payment.
I dunno, but if btc will not reach 500k in three years i will eat my dick on tv