Bitcoin is worth more than AMD

miners are pulling in over 10 million a day now in revenue

>comparing currency to a company

Had the technology behind bitcoin worked, Bitcoin would be worth the price it is.
However, Bitcoin will begin centralizing when it becomes too expensive to start a mine without extensive capital, making it effectively an inefficient bank.

Because a company is a niche strategy for profits bitcoin is supposed to literally be all the money in the world so you shouldn't be scared until bitcoin is worth more than most of the world's currency combined

For starters bitcoin isn't a company or any asset class we've encountered before so valuing it is next to impossible. Bitcoin takes humans and trust out of the picture and provide a protocol based on proof of work where information and governance cannot be corrupted or hacked. This is the first (and best) use case of this technology as it has created a decentralized ledger to distribute value to anyone, anywhere without permission from anyone and is more secure than Fort Knox.

It still probably has more problems than solutions. All in all, this is an exciting technology and I'm interested to see where it goes and am taking the risk to be apart of it because the implications are absolutely bigly if true.

>supposed to literally be all the money in the world

You see where this logic is flawed? Valuations isn't based on what its supposed to be, but what it is.

But seriously. If you think the future of money is somehow going to be worth less than a single company, you're nuts.

Money needs to have sufficient value to purchase anything that should be purchasable. If there were only a million US dollars at current value, you simply couldn't have a workable world reserve currency. If all of a currency in the world can't buy one corporation then it's not functioning at the global level. By necessity of it BEING a global currency, it has to have a much, much greater purchasing power.

Now if you think Bitcoin is just going to fizzle out, ok fine, it's overvalued. But if it's going anywhere close to being a real currency, it's going to have to be big enough to buy much more than a few companies.

> Bitcoin will begin centralizing when it becomes too expensive to start a mine without extensive capital, making it effectively an inefficient bank.

Do you not understand how mining is nothing like being a bank?

Apple, a single company whos biggest achievement lately is okay-ish phones for normies has a valuation of nearly $900 Billion, 9x more than bitcoin which is a revolutionary new technology and decentralized, worldwide payment system with a huge brand recognition.

We're not in a bubble, we're just getting started. We are in the basement dweller adoption phase. Bitcoin will go all the way to $300,000 before the bubble will pop.

> If there were only a million US dollars at current value, you simply couldn't have a workable world reserve currency. If all of a currency in the world can't buy one corporation then it's not functioning at the global level.

The fuck are you on about? Don't you understand that you can trade one hundred millionth of a single bitcoin (0.00000001 BTC)?

>Valuations isn't based on what its supposed to be, but what it is.

Completely wrong. A startup company isn't valued at millions of dollars because it's currently making millions of dollars, it's valued because of the potential investors see in what it could become. Plenty of companies are valued at millions or even billions despite having minimal profits. Just look at Amazon.com- constantly turning nothing or nearly nothing in profits but worth hundreds of billions. A company like that should be worth basically nothing. It's instead the potential for further growth and future profits that drives current valuations.

It's almost as if value is subjective. Really makes you think.

I do, and that's irrelevant to my point. Bitcoin will be a global currency and if it does, a satoshi will need to be worth at least a few dollars for adequate purchasing power.

Alright I get your point now and I agree.

99% of the world never bought any bitcoin yet?
that's why it really can't bubble, at least not until the market cap is much much bigger than this..
the day you will actually be able to buy everything with crypto is the day we all ride in golden lambos my friend.

Well, FIAT dollars are.

There has never been a multibillion dollar speculative investment

wtf are you talking about

Crypto has a total market cap similar to the entire Coca Cola Company

>ONE BITCOIN WILL BE WORTH MORE THAN THE SOLAR SYSTEM
>BITCOINS WILL MAKE US IMMORTAL GUYS

>implying one bitcoin won't buy a solar system in 10,000 AD

Reality itself is fake/artificial so, there. Play on playas.

>Comparing company values to a deflationary asset

lmao

OP is amd beta race

Core is going to get fucking rekt on the 18th and anyone paying attention knows it.

>thinking any chain can survive losing 85% of its hashpower immediately without a difficulty adjustment patch

>it would be hilarious if Core is forced to merge Bitcoin Cash's code to keep their bullshit gimp-chain alive

Thing is, BTC is still doomed, it will be hopping from a corporate controlled dev-team (Core/Blockstream) to another corporate controlled dev-team (DCG). The 2MB blocks will definitely be a breath of fresh air, but I'm betting on altcoins gaining significant ground (especially ETH) during the weeklong chaos that will follow the hard fork.

ITT Veeky Forums gets carried away and starts believing that their fucking algorithm on a laptop will have more influence than a country that touches both oceans and possesses nuclear missiles. And could pass a law that says owning Bitcoins will send you to jail.

I think crypto is amazing, but fukin' Christ some of you guys.

Kek'd so fucking hard. Thank you Jaden

Bitcoin will survive the government question. There will be wars fought over it.

>thinks because miners are signalling for 2x means they will mine 2x

how fucking new are you? did you not see what happened to bitcoin cash?

ETH, ARK, XMR, BCH.

I think B2X will replace B1.

As much as I would love to see 4channers try to fight the US military, you are mistaken. The value of Bitcoin is the promise of future adoption. If the government decided to do a ban on crypto, there would no longer be the possibility of wide adoption and all your coins would be worthless.

blog.bitgo.com/bitgos-segwit2x-plan-bb8f17e972d3

>We anticipate that one chain will have majority hashpower and be able to confirm transactions quickly, and the other chain will confirm slowly.

Guess which is which, bucko.

the one that costs more

the one that has the name bitcoin

not the new fucking fork you dumb nigger

WE

You're assuming the US is the only country in the world. Other governments adopting it will make it incredibly resilient and anyone not adopting this technology will be left behind.

Prohibition on a technology like this is beyond full retard, its fucking suicidal to any potential growth that country will have in that sector and it certainty won't prevent criminals from using it. They already do it in plain sight.

>the one that has the name bitcoin

Whichever survives will be considered Bitcoin proper and the loser will be called either Legacy Bitcoin or Bitcoin2x or some shit like that

bix nood

i read a statement by warren buffet where he said that bitcoin is a bubble and in essence said "bitcoin is like a check you use it for transactions its fast cheap but its nothing that produces value in itself".

the same goes for every currency. its paper if you dont use it to trade it for value its all just a useless bubble. in the same light is the USD in a bubble right now if the main stakeholders dont use the money to buy stuff.

Derelict

It's a global reserve store of value and the first and most established of its kind

It's going to be worth a lot once it achieves any measure of adoption

Stop being a bitch

>doesnt know other countries already banned bitcoin
china is already considering a permanent ban, countries already know that that its going to be one of the causes of a depression

expect withsacle banning before 2017 is over

> "bitcoin is like a check you use it for transactions its fast cheap but its nothing that produces value in itself".

So like money? Last I checked money was valuable.

money isnt valuable. its what you buy that is valuable.

>doesn't know other countries already recognize it as a currency

forbes.com/sites/outofasia/2017/11/02/japan-a-forward-thinking-bitcoin-nation/#7c57f3c933a3

I wonder if Japan and China have any kind of rivalry?

except it has a finite supply, and cannot be forged or hacked

So why is anyone exchanging paper for value

Why do people horde paper and call that wealth

Value is subjective and abstract

M8 No one is going to go against the United States in support of a decentralized currency, when decentralized currencies are the opposite of how government works. Countries like having taxes, and there's a whole lot of people who think government is a good thing.

And if they went all in, the US could make MAGAcoin and give every citizen a wallet while prehashing a trillion for themselves.

the finite supply thing is a meme. if there was really a need for more btc you could just attach an offchain and create as much as you need like 1 sat = 1 satoshicoin with 8 decimals

No it isn't, that's why it's worth $7000 right now. You can't fool a market like that retard.

you cant fool a retard like that market

so why are you on this board if you dont understand basics of economics?

its worth what you can do with it.
if tomorrow the "world ends" and nobody wanted your money what would it be worth?
the potatos still have the worth they had before but your money is now royal toilet paper

Hahahahahaha you obviously dont know that the fuck is going on. Bitcoin is at $7000 for muh free bitcoin fork coins.

So invest in potatoes you moron. Gold, fiat, bitcoin, they are abstractions of value that are contingent upon mutual agreement therewith. Of course it isn't a sure bet but then again your life and your potatoes aren't either if no one wants to eat that shit.

What time scale do you think I'm alluding to? It went from cents to thousands in 8 years, there is no asset class that has come close.

just check btcforums on the topic
in 2015 when the discussion of wtf to do with the congestion problem was a hot topic the people started research in offchains and the tech is already in use is some cases and other coins. if the btc devs decide there is a need for it. it. will. happen.

Its 5000 to 5500 at best post-fork. It will probably reach 10,000+ next year. Honestly I'm having hard time thinking of a scenario where ETH wont overtake its marketcap in 5 years plus.

>a form of payment that is not legal currency
oh boy someone doesnt understands what he reads

(You) are a fool. Anyone who listens to you is a (fool). You have been using steaming pile of bullshit since last weekend to pump and dump Bitcoin cash, among other Alt scams you are running. As admitted by the Script Kiddie Developer, Segwit2X is a non sequiter for causing ANY problems for Core 14. Although the developer blames Core 14, he eventually winds up admitting that 15 is fatally flawed, and will have to limp along on Core 14 for 6 months or so until he figures it out. That is VERY bullish for Bitcoin Core. Pic VERY related. Now, back to your Altcoin Containment scams. No one here believes you, and Honey Badger Bitcoin don't give a fuck if they did. !00 Billion in Hedge Fund Futures Trading Money incoming.

Compare BTC to gold (~7trillion), not companies.

Fool. Bitcoin is at 7k because it has been cleared for Derivitives. 12k incoming.

English lessons is worth more than shitposting

Muh Ethbags so heavy.