Reminder Bitcoin is not Tulip Mania 2.0

Reminder Bitcoin is not Tulip Mania 2.0

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armstrongeconomics.com/world-news/cryptocurrency/bitcoin-being-declared-a-financial-institution-beware/
twitter.com/AnonBabble

btc has no inherent value, it is by definition a bubble.
its good to make money in the short term though.

Always funny to see the mental gymnastics people do to say it's not a bubble.
Like we can make money off bitcoin but let's not lie to ourselves.

BTC is definitely a bubble. Hopefully whatever replaces it will actually take us to the decentralized currency promised land

Gold has no value right nigger?

and before your 12 year old ass says "muh gold can be used in real life". No, there are cheaper and better metals that do anything it can do.

But BTC is slow as fuck. Something really needs to replace it.

I don't have to give away $15 in gold to hand you $20 worth.

Bitcoin has no value because it transitioned from being a currency to being a way for miners to milk as much money as possible out of a compromised decentralized network.

Also, I'm not aware of any cheaper metals that match gold in both corrosion resistance and conductivity, but I don't really give a shit about comparing cryptocurrency to metal anyway.

Bitcoin and gold can both store value, but the point of cryptocurrency is to replace currencies issued by the central banks of corrupt governments to subvert their power. It's about keeping pieces of shit from making money off you or taking money from you as providing little too nothing in return. Pieces of shit like the Bitcoin miners who refuse to properly scale the network to reduce the transaction fees they're leeching off the network they managed to overwhelm and compromise.

The whole world is going to swap from gold to bitcoin! And they will do it because it will make me rich! In 10 years people will be wiping their bums with gold it will be so worthless!

In this field, a lot of people who haven't experienced the silver pump and dump. The parallels are uncanny, yet the attitude is slightly more delusional. SLIGHTLY. It's the same stories over again. There was a point where people thought that USD was going to fail inevitably. This led to the silver rush. Silver had a really great run starting around July 2010. The normies and bandwagoners jumped in, the "value" increase jumped in over 150%, then people who were part of the scam sold out and it had a slow death over a couple of years to where it should be. Back to where it started before the rush, in fact.

So many people are trying to convince themselves they're onto the new thing. It's a trend they can't deny and it's just getting bigger. The sooner you see what's going on, the better. Sure we're making good money off of other people feeling the "get rich quick" shtick. But that stupidity has an economic cap, where that incoming wave will stop, and people will freak out about whether they made a good decision or not. When BTC has a great correction, which it will, these idiots will be trying to dump as fast as they can.

Why does this matter? Because, regardless of the intrinsic/extrinsic value of BTC, they are mostly looking to convert it back to USD for a profit. It's purely speculation and they're taking a dumb risk. They don't understand why it's going up, and are trying to get in, but it's too late. This means they are trying to ride a wave, not reform the money transfer across nations like many of you fantasize about.

The second they realize they can't convert it back to real money at the value they want, this bubble bursts. It's over.

Same people got scammed with Iraqi Dinar.

Get out while you're rich.

They really never get it.
>It's Different This Time

hah.. it's different this time.. well said

There's alot of newfriends flooding onto this board. You can tell who they are because they think their opinion matters.

They are going to get scammed so hard.

You have no idea what bitcoin is worth to people around the globe. So many people hate their government, but can't get money over boarders without being detained. Bitcoin is global freedom, it always has been this way. It has never been about one country. Those who fud just want to take the keys of freedom away from others while they selfshily guard all the gates to travel and global cooperation. Fiat is outdone.

>You have no idea what bitcoin is worth to people around the globe.
Yeah I do. And I accept your point, entirely. Between arbitrage and general freedom. My point is that the trade has been driven up by USD speculators who think this is going to make "rich", nothing to do with what you're speaking of.

If that reason for it going up were true, then you can be sure as shit that the primary driver in the increase, the US, doesn't care about what you speak of, or that's the reason they invest in it. They're looking for a turnaround which will never come.

I never devalued the purpose of BTC, just the current value.

nope its a fiat currency now, also i forgot to mention, all miners/wallets are now banks, so pay your taxes goy!

armstrongeconomics.com/world-news/cryptocurrency/bitcoin-being-declared-a-financial-institution-beware/
you can thank california for this.

Gold has inherent value in that it looks good and it's long term. It doesn't corrode or decay away like a lot of other physical goods that are visually appealing. It's also malleable and rare.

And if you know anybody in countries who *need* this, they should sell out while they can. Primal rule is that you should never invest in something you can't afford to lose.

People want to convert their third world currencies into bitcoin so they can then convert it into USD. Why should I want to convert my USD into Bitcoin?

lmao. there's literally a fuckin gold medalist right above you dawg.

people channel their inner boomer when it comes to btc cause you can't stand it succeeding.

"btc has no value, but try the altcoins, they're delicious!" the fucking compartmentalization that requires.

I knew a guy who actually killed himself after silver crashed. I can see it happening to a lot of Veeky Forumstards. BTC might keep going up for a few more months, but it will stop eventually, and the stop will be very abrupt.

ding ding ding.. found someone with a functional brain

bitcoin cash is the real bicoin
>supporting segshit and the goyim network
wew laddie

no shit man.. don't have a story about that on my own.. i've seen a lot of people fall into that trap, but not that bad..

all i can say is that people who ignore history(especially recent) have a tendency to repeat it

> I can see it happening to a lot of Veeky Forumstards.
Great. Someone's got to pay the price for this. Looks like people gotta die

You're delusional if you don't realize that the only reason people are buying bitcoin now is so they can sell it for a profit later, and that this is going to cause the biggest crash we've yet seen.

Just stop selling your bitcoin for so damn cheap. 15k isn't worth dick to wallstreet. How much is your freedom worth?

They can take your bank account
They can take your name
They can take your home
They can take life

They cannot hold your bitcoin keys unless you hand it over.
This is literally the one thing they cannot have without your permission.

It's not boomer, it's having a basic understanding of economic history.

Keep being an ignorant millenial.

Before we hit $5K my mom asked me about Bitcoin and before we hit $10K my fucking grandma asked me about BTC.

You damn retarded millennials are not the early adopters and we're in an advanced stage of the bubble.

Not saying that you can't still make good money just buying and holding BTC but when it will tank most of you will cry.

feel like 1 week prior the new majority of people didn't realize this.. bandwagoners.. late bloomers who are uneducated, shooting the price up and the oldfriends are loving it.. there's a ceiling

Wew, i remember a friend of mine convincing a few family members to go all in on silver at around $40/oz, because it was 100% going to go up to $100/oz by 2012.

This is different though. Silver was already established worldwide, BTC is just getting started. It's like getting silver at $2/oz right now

see
literally

Sounds like your family talks to each other

maybe post 4-5k yep. even if it ended the year at 3k it takes over in 10 years. literally your best bet to not keep getting ass raped by the cabal of central bankers, handed to you on a silver platter-and you guys want to fight over a 1000 different ripoff coins cause they transact a little faster or are completely anonymous instead of mostly anonymous.

what's also delusional is not seeing that the real reason people pimp their "better" coins here is cause they actually had a chance to get in early and they want yachts. gimme a break biz

carbon nanotubes will replace gold in both corrosion resistance and conductivity, also quantity... start hoarding CNTs

someone had to say it

Silver is better for conductivity.

If the morons just bought gold, at least the sting would be softer. Over 25% real gain in 10 years is still terrible, anyway.

Those people are also minorities in their countries.

I don't think that you understand what third world means.

ya so different than these smelly pieces of paper and shiny metals. you can use those to... light a fire? make pretty trinkets? wow

Bitcoin will never scale to be usable as a currency worldwide. It has no fundamental value when so many better coins exist.

you can't say that for sure. look at all the old ass tech that we second layered and still use today. they thought ethernet would be capped at a few megs. it came out in the 80's.

move out of your mommy's stinky basement, and pay for your own internet.. may take on a different view of "smell".. beauty is in the eye of the beholder i guess

read
the U.S. gov is already passing a bill to recognize that shit, apparently people acknowledge that shit, the world will follow fairly soon.

lol shut up and buy bch you shill

Money is filthy and it also speads germs and viruses because we have to touch it even though it just paper.

I never handle cash, but I appreciate what you're trying to say

Mike Novogratz said it's a bubble and he invested 20% of his worth into, because you can still make money out of it. I feel sorry for people that will buy this shit at top though. Rich will get richer I guess...

so is bitcoin