How do you justify the price of BTC?

The money from btc should flow into alts right?

t. Alt bagholder

Yep.

Everyone wants it because the price keeps increasing.
The price keeps increasing because everyone wants it.

It's a beautiful

Is that healthy or sustainable?

the opposite will happen when it starts to crash, bagholders will be fucked.

Does that sound healthy or sustainable to you?

where will all the money go when bitcoin inevitable crashes? will the $170 billion just evaporate? OwO

ok il stop i just got btfo. my bad

In this world everything has an end, everything must die

The point is to enjoy it while the moment lasts

I have to say I like the sentimentality about discussing this. We all know it's going to crash but we're not doing anything about it.

People will no longer believe it to be that valuable so it will no longer be that valuable.

THE JEWS DID THIS

nothing is worse anything less than what people are willing to pay for it
a very significant portion of our economy these days is speculation based on what completely unprofitable entities and assets might be worth in the future, and while I'd agree with you if you take issue with that Bitcoin is by no means unique and the only thing that matters in the end is successfully exploiting human behavior for profit

Holy shit, someone admitted being wrong on Veeky Forums.

Bless you user. Bless you.

The price of BTC reflects the demand and supply for a pseudo anonymous currency out of immediate reach of the government. It doesn't need justification

whats the US deficit look like?

...

Historical precedent.

Also, anyone can create bitcoin 2. No one can create gold 2 because the laws of physics prevent that and you're not god.

That's like...the exact opposite of beautiful. The fuck mate.

But it's not Bitcoin 2, just like me scribbling on a piece of paper isn't USD 2. That's be beauty of a transparent currency enforced solely by majority rule.

The supply is too low to meet the demand.

it's the only asset in history that truly has a hard limit on the amount that can exist. It will go up forever.

...

Bitcoin is an easily traded commodity whose value comes from the rarity of it, the speed of transaction settlements, and the ability to do this without financial institutions.
A little more solid to me than pretty metal.

> No one can create gold 2 because the laws of physics prevent that and you're not god.

DAAAAAAAMN Bitcoin's store of value meme literally got BTFO.

hahahaah you must really be fucking stupid

I would disagree that at this moment it is an easily traded commodity, and the value doesn't come from the rarity of it either. I would argue and hypothesize that the value at the moment is a result of explosive growth, media attention, and general FOMO from new investors who have seen an unprecedented rise. Crpyto "investment" courses are popping up all over the places. Additionally the current technological/economic (POW/energy consumption) restrictions that will probably never be solved in the foreseeable future tells me that it really isn't solid as we think it is.

>Bitcoin is an easily traded commodity whose value comes from the rarity of it, the speed of transaction settlements, and the ability to do this without financial institutions.

Uhh yeah, with no barrier to entry... Which is why there are so many competitors, who are we to say whether or not bitcoin will be the dominant coin in X years?

speculation on exponential growth that was value based before august 1st

Waiting for the crash. Will be hilarious when people go from rich to poverty within a few seconds

>POW/energy consumption
Found the communist

Stop telling other people how to spend their money, statist vermin

user I've been waiting a long time for the crash now. I don't think it's coming.

Thanks for contributing to the discussion. I'd love to hear your argument about the increase of power consumpion

the price of anything is based solely on confidence

Sure. It goes like this: "If people want to spend $100,000 buying electricity in order to obtain an asset worth $110,000 then let them - it's there money".

Whereas your argument is "How DARE people spend their money other than as I would wish it? Why, they're even buying bottles of milk without checking in with me that that's okay first WTF"

hth

Didn't really say anywhere that people should be buying "x" or "x" and not "x", not sure where you got that from. Can you quote me somewhere?

It feels like something is going to explode.

Why do I have to justify that, or anything else to you? I'm just a humble trader, making a quick buck here, and a quick buck there. You can ponder the meanings.

Sure:
>Additionally the current technological/economic (POW/energy consumption) restrictions that will probably never be solved
You've asserted that energy consumption is a restriction that needs to be solved. That consumption is problem for the individual paying for it, not a social (or other-than -individual) problem. If that's not what you meant to say, perhaps you could rephrase it?

All i stated was that it's a growing problem, and never once said "this con outweighs the benefit of mining."

>~21 million coins
>3-6 million people owning digital currency
>can be used to make payments online or even in other countrys without having to do an exchange to local currency

It's a growing problem, you say. And what is the nature of this problem? And who is it a problem for? Your skirting the issue opens you up to being misread

tfw too intelligent

I don't. BTC is a piece of shit that doesn't deserve to be priced this high

Doesn't mean I'm not gonna ride up to the top these retards are building for us

What's it gonna crash to? 8k? 7k? 6k? 5k?
Who fucking cares if it does... that's where it was a couple months ago.

the so-called "investors" who lose money, i would imagine.

Yeah until it's up another 800% in the next year

>there money
Back to the brainlet containment board.

the value wont recover once the bloodbath begins

So NONE of you are holding bitcoin?? I was about to buy some....

If not whats yer spread? I have $100k and don't know what to put it into. I want to be able to retire in 15 years

ETP.

all into XMR obviously

it's literally because it's by far the most expensive to attack. any non-brainlet should understand this

it is the most secure computer network on the planet

Same was said about mtgox and the China fud crash

Energy consumption isn’t a real issue.

Tragedy of the commons doesn’t matter for a decentralized cryptocurrency

What's your plan if the crash ever happened Veeky Forums?
Go fiat?
I'm thinking to save my assets to ETH, but it could went down too yeah, fuck man...

>why is the TCP/IP of global finance limited at 21 million shares going up?

>muh industrial uses
literally 5% of the marketcap

>muh crash

No, not anyone can create bitcoin 2, which is precisely why bitcoin keeps going higher.

By the time you realize this fact you will have killed yourself.

sometimes things just be that way dude. maybe bitcoin will become a million for no reason just like diamonds are valuable but not rare. theres no logic to any of this

FUCKING THIS

you're right, and I'm scared right now

How do you justify the price of USD?

>Also, anyone can create bitcoin 2.
Just 2 blocks before activation, all B2X nodes froze on block 494782. The crashed nodes were caused by a technical error in the code. This is exactly what happens when you try to eliminate the extensive peer review process in Bitcoin development and replace an entire team with a single part time developer.
People often criticize the BTC dev team for being slow, but that's to avoid shit like that happening. If that had gone live if everybody in the world was using BTC, that would have caused hundreds of billions of dollars in economic damage.

but bitcoins are rare? there's only 21 million of them out there.

Also when the bitninjas buy up the sweet cheap coins before the following surge to 15K

/thread

More like a couple weeks ago

Unironically, digital gold. People pay $20,000 for "super rare" gun skins that just change the way guns look in games. Young people are leaning more and more towards the digital world and VR. When VR starts to overtake reality, who is going to care about physical gold? Bitcoin IS GOLD.

true, actually I think thats something which people easily forget about. just makes it a lot more likely it's going to go up and up

Does this mean EBST could have a pump? I think it's a sleeping giant. Look how spooky the chart is on 1 day zoomed all the way out. Someone tell me wtf is going on with it. disclaimer: i hold no ebst.

I don't care anymore. I just want to get off this ride. As soon as I break even, I'm getting the hell out.

Idiot

Nobody else can create an economically utilized (therefore wealth-storing) blockchain longer than Bitcoin's, that's how time itself and entropy work

You don't understand and you never will.

I don't

How many coins are even remotely close to being listed on real-world financial instrument exchanges? Only BTC

You don't understand how important first-mover advantage and public acceptance is. Betamax vs. VHS

Don't listen to any of these fucking retards

Buy BTC and nothing else. At most allocate 10% of your crypto holdings to alts, but only high market cap ones. Don't be retarded

I have almost 6 figures of pure BTC that I paid barely anything for. BTC is the best choice.

i was an early invester in bitcoins, i bought 10 million $ worth back in 2010

as an celebration for my wealth, im giving away 1 bitcoin to the first 25 anons to post their address, and 0.5 to the last 25

find 10 people who own free and clear houses that want to sell. Convince them to do seller financing and give each one 10k to walk and make payments to them for a few hundred below current market rent.

During the time you're making payments to them, offer them chunks of money - for example $5,000 to take off $7,000 from the balance - and at the end of 15 if you hang on, you'll have 10 free and clear houses hopefully paying your rent of around $1000.

$10,000 a month passive income is more than enough to retire living a modest lifestyle.

Just remember that 90% of the people on this board are either pajeet or underage.

>At most allocate 10% of your crypto holdings to alts, but only high market cap ones. Don't be retarded

All alts are risky. It doesn't matter if they're high market cap or not.

I know, that's why I said 10% of crypto holdings. But the smaller market cap coins are more likely to be scams because they have no history of being used by others. Look at all of the literal scam-coins on Veeky Forums propped up by spam bot networks online.

scarcity
supply and demand
deflationary currency
it's really not that hard

Fuck you I'm rich, that is how I justify the price of BTC. The autistic screeching of Veeky Forums about how your favorite shitcoin that you are bagholding is better than BTC, is and will continue to be totally irrelevant. There is no law of economics that BTC is violating. Sorry you lads were late to the game and I do know it is possible to make good money on alts too, but fucking deal with BTC being the king as again your autism is powerless to change that.

Network effect, first coin advantage, its honey badger nature, deflationary, scarce, supply and demand, and yes the dev team is second to none. It is just hard to upgrade BTC because it is so successful, but core will manage to scale BTC and advance it from there.

Then why isn't copper worth ten thousand times more than Gold?

>first coin advantage
Napster and Myspace were first too. Ask Jeeves, he'll tell ya.

You really think that the hyperelite Jewish families that have control over the world's currencies couldn't just pump their own blockchain? Bitcoin is backed entirely by hype and trust in the mob, just like John Bogel says. Stocks generate earnings and dividends, gold at least has 5000 years of history, and the USD has the entire military industrial complex as well as the police state forcing people to use it. If the mass media (owned by guess who) decides to shill against bitcoin and pump some other shitcoin, then guess what, no one will use bitcoin.

Bitcoin isn't even useful as a currency any more given that a single transaction takes a house-week's worth of computing power. It's a giant game of musical chairs at this point.

you right

WHO ARE YOU

You're an idiot, the media is continually shilling against it all day long. I just watched a bloomberg segment on TV and they were only talking about bubbles the whole time