1) I'm not a nocoiner
2) I'm not a proponent of BTC or BCH
But pic related is proof that cryptos are no fucking different than fiat. It's created out of thin air.
It took bitcoin 8 years to hit a $100 billion market cap. BCH is now at ~$21 billion in what, 3 fucking months?
"but muh bitcoin is unique and specialz"
NO IT'S NOT. It's just code. Code can be copied. The proof is right fucking here with BCH.
This whole shit is going to crash. I don't know when, but it's coming.
Other urls found in this thread:
en.wikipedia.org
twitter.com
BTC would have been 8000 by now if it hadn't been for BCH.
Unusually good post by Veeky Forums standards OP. How is creating forks and using your status (and BTC stacks obviously) to pump it any different from printing more money?
Any currency is like that though. It just needs faith in it. Theres nothing special about fiat, gold or silver. Just people accepted it. Same goes for crypto except it has the advantage of easily being transfered across the planet. Btc is the biggest because it was the first and became more mainstream.
Crypto was supposed to be different. Why in fuck's name would I use it if it's the same as fiat?
And what will you say when BTC 3, or BTC 4 comes along? This is the inherent flaw in cryptos. It can be replicated to infinity.
JUST. LIKE. FIAT.
>Theres nothing special about ... gold or silver.
Wrong. There is a finite amount of precious metals that exist and they cannot be replicated. Trying to conflate this with computer code is ignorant.
It is more universal and easily transferable across borders in this ever shrinking world.
Everybody disapproves of US government creating money out of thin air and shilling it because of the country's and dollar's status. Literally the same thing as forking.
Visa and SWIFT.
Well I will continue to refuse to use BCH, BTC3 and BTC4.
BTC is real, all other coins are shitcoin pretenders.
This copying is what is going to keep the original BTC on top in value for the long term.
Anytime you fork, there won't be enough USD buyers out there to cover the original's market cap. Forks are going to fragment and be a fraction of BTC's price. BCH is doomed to be a fragment of BTC forever.
Theres also a finite amount of sand and sea shells. Doesn't make it magic. Currency is simply what people give value to something.
Market caps are irrelevant. You would never sell every bch at the current price. Market cap is just supply x price.
As for splits, soon every possible idea or feature will exist and new cryptos will stop being created.
>finite
>implying we won't be able to eventually create them with science/engineering
That's not how Chemistry works. It is possible to create gold, but it's not worth it.
>You would never sell every bch at the current price
Not just that, but the VAST majority of BCH is burnt, if the same amount of BTC and BCH were in circulation the price would be much lower for BCH.
>Why?
Because all the burnt coins from BTC are burnt in BCH too. Also a huge amount of coins burnt since the fork by people moving BTC and not the BCH they got, then losing the 'empty' address.
More BCH is burnt continuously. I wouldn't be surprised if there were less than 1/2 BCH as there is BTC. So the market caps are not indicative of the real value.
>what are ratios
How many ounces of gold vs sand exist on this planet, dingus?
Now tell me: What is the limit to the amount of computer code that can be created?
>not worth it
Ok, try to think about this a bit more critically:
>in the future, technology advances across industries
>things that were once expensive to produce become economically feasible
We will get to a point where it makes sense.
You're talking hundreds if not thousands of years down the road. Try sticking to 2017 for now.
And the facts in 2017 are this:
1) Precious metals are scarce and cannot be replicated.
2) Computer code is simply data that is only restricted by the amount of hard drive space in the world which is increasing exponentially.
really good post and its the truth.
IT TOOK A MONTH FROM BITCOIN TO GO 30 BUCKS TO A THOUSAND, SHUT UP FAGGOT OP. YOUR MATH DOESN'T APPLY WHEN A RIDICULOUS 200 BILLION DOLLAR MARKET IS FLUCTUATING FASTER THAN A NORMAL SEX SESH WITH AN AN ALPHA FEMALE WHILE YOU'RE BETA'IN ALL OVER THE PLACE.
>IT TOOK A MONTH FROM BITCOIN TO GO 30 BUCKS TO A THOUSAND
You're only re-enforcing my point, retard.
I think you're missing the point. Its all about the value people put into something. People value those metals more than sand because its less common. But people also value convenience and the technology behind crypto transactions. Good luck with carrying your gold around with you though. You should read up on how fiat was created in the first place.
>But people also value convenience and the technology behind crypto transactions
I never said they didn't. But that doesn't negate the fact that it can be copied. The only thing holding up BTC's value is sentimentality and speculation.
It's technology, while initially groundbreaking, sucks. It's too slow, too volatile, and too complicated for the average person. It will be replaced.
Yeah as i said its only popular because it was the first and gained fame. Objectively there is better crypto technology, will have to wait and see what happens. I feel though crypto itself is here to stay unless something drastic takes place.
>hundreds if not thousands of years down the road
I don't think you're considering this:
en.wikipedia.org
We might see it in our lifetimes.