Bitcoin has failed. Pol was right

Except that it hasn't, and everyone on /pol/ who hates bitcoin is a shill.

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you do know /pol/ is always right, right?

pets.com says hi

who is buying bitcoin?
is there a big shift in wealth going on because of what is about to happen?

Why are people buying bitcoin? It’s get rich quick, right? At some point the dollar isn’t that fucking shitty and this ponzie scheme will come spiraling back down. Get in, get rich, and let the normies lose everything in the crash.

>who is buying bitcoin?

People who will fall for any get-rich-quick scheme.

basically bankers are propping it up so people take loans out to buy bitcoin. bitcoin collapses which it will because it doesn't have any real world use like you can't make shit out of it like gold or Oil or it doesn't have people with guns saying it's worth something, those people will owe real money to banks.

In the real world for something to have a value you need to be able to construct something concrete out of it or it needs alot of people with guns saying it's worth something.

otherwise it never ever works. EVER. they've been doing this shit since rome.

>basically bankers are propping it up
>Volume steadily dropping throughout the rise.

Really thinks you make.

>In the real world for something to have a value you need to be able to construct something concrete out

Like intangible digital goods you buy everyday.

Or a computer program that verifies all transactions are correct.though a blockchain, creating value and virtually eliminating all possibility for fraud.

>otherwise it never ever works. EVER. they've been doing this shit since rome.

Rome had a blockchain? Can we see this ancient Roman blockchain?

The only problem with bitcoin is that no one is going to use it as currency until the price stabilizes. But the price isn't going to stabilize until everyone buys into it and starts using it as currency.

And that's where you step in...

You guys are really worried about losing your central banks, aren't you.

bitcoin is worthless for actually buying shit now
costs like $15 in fucking transaction fees before you can actually use it

>until the price stabilizes
Except most people buying in right now just want sell it for more than they paid. As soon as the price stops skyrocketing, they'll try cash out. What happens when everyone wants to sell, and nobody's buying?

Can someone confirm this? Credit card companies charge like 3% in fees. You need to buy something worth $450 just to break even with credit card companies.

> As soon as the price stops skyrocketing,

central banks will be completely dead, and the dollar will be completely useless. There won't be another currency to cash out to.

>reading
Fucking learn it buddy, do it for your country, cause it's looking retarded right now.

Yep. Any day now. Just like last time.

VELOCITY HAS REALLY SLOWED DOWN, ITS QUIET TOO QUIET

RUH ROH A 2 WAY MARKET WHERES MY ROCKET TO THE MOON, BIG DOWN LEG COMING

CAN U GET OUT IN TIME ON THE AMATEUR HOUR SCAM EXCHANGES WITH UR STUPIDLY HIGH COST BASIS :^)

Transaction fees on gdax are a few pennies.

>buying a fiat currency that's more inflated than the currency you're using to buy it.

coiners will forever be cucks.

How does that work? One of the reason why steam stopped using btc was because of the high fees.

>listening to /pol/ when it comes to finances
you're more likely to get better advice in literally any other board

Also it can take more than 20 hours after you bought bitcoins for them to be in your wallet. Hmm, almost like they sell you something that doesn't exist yet

How the fuck do you even use bit coin?

Can I go into a super market and buy my groceries with it? Can I fill my car up with gas and use bitcoin to pay for it?

No. Its a currency being used by nerds and criminals. Il take it seriously when I can use it to buy everyday goods.

Until then Sage and fuck off.

Just no-coiners complaing.

/pol/ is always wrong.

in the weekend they opened for normies to speculate on it on some stockmarked in the us, so now it's even more in on this hype, people wouldn't normally be able to buy

I like 40k ish of this shitcoin, I mined half my self 3+ years ago and bought the rest.... well I can regret that now lol, but point is even they are starting to go up. Closing in on 10 cents a bit over half a mill in us dollars traded on them each day. They will never reach bitcoin heights though, backed in dudeweed by this canadian dudeweed man

>Can I go into a super market and buy my groceries with it? Can I fill my car up with gas and use bitcoin to pay for it?

Not until everyone buys into the system and stabilizes the price.

Can you address

the drug stuff isn't even 1% anymore user, it's speculation and that alone basically at this point

>Also it can take more than 20 hours

Can and yet doesn't. Jews going hard on this thread.

>literally a pure incarnation of speculative wealth

No, it was because of price fluctuations.

Xrp... big household names about to adopt in realworld application. India about to join... get in early only 28cent

lololol
This looks like steam market prices for certain items that can at anytime be removed by Valve.

How can anyone take this shit seriously?

>he is sticking to BTC
Litecoin is where it is at up 400% in less than a week

And what are we speculating for. A world without central banks and Jewish control of money. So where the fuck is /pol/?

I think visa is 2.5% yes for every transaction you make, ie the store has to pay that fee to visa. I don't know what mastercard is but I assume it's around that same price.

Worked slightly with making systems which included bankterminals/card readers(bbs/baxi) so I mean to recall it's 2.5% they take

steamcommunity.com/games/593110/announcements/detail/1464096684955433613

Steam itself said it cost close to 20.

Not a shill and your used energy "money" is still dumb as fuck.

well played.
0.00000000000001 satoshi has been transacted near your account

>everyone on /pol/ who hates bitcoin is a shill.

True words.

/pol/ hates nothing more than baking-cartels. Bitcoin is a blow to them.

You exchange it for dollar currency and then you use that money to purchase goods and services.

>17k
WHAT THE FUCK HAHAHAHA PIC RELATED

anyone listening to /pol/ is a retard. i got no bitcoin unfortunately, but i'm glad it's going strong.

If you do find somewhere that actually accepts bitcoin make sure you remember that it’s really intellectual property, not currency.

That way you can make sure that you track the fair market value at the time you spend it and then subtract out the fair market value at the time you purchased it to determine how much capital gains tax you owe the IRS. For every. Single. Transaction.

And if you ever mess up don’t worry, it’s only a violation of federal tax law. What’s the worst they could do to you?

>/pol/ hates international banking Jews.
>/pol/ hates decentralized deflationary currency that cannot be manipulated by Jews.

Pick one.

>steamcommunity.com/games/593110/announcements/detail/1464096684955433613

Never experienced anything like that. It must have been a very very large transaction.

Acquiring wealth with something unnecessary and intangible like bitcoin is pretty jewish though.

scared me OP. good one

>bitcoin didnt fail

what can you buy with it tho?

nothing lmao

bitcoin is worth about as much as monopoly money. If you're in for the long haul the bubble will pop and you will lose everything.

>currency
store of value.
>decentralized
you don't know who owns what
>deflationary
entirely off of speculation

>hahaha what can you buy with buttcoins hahaha
Literally anything

The pawn shops in my area just started buying bitcoins for cash.

Buying Ripples. Is it a good idea?

I am also retarded, maybe we can hang out at group therapy?

if you were so sure bitcoin wasn't about to burst you wouldn't be creating threads on here 5x a day telling people to buy in to your ponzi scheme

the second the government even takes a look at regulating it it's going to fall hard

And transacting with paper money is free. Also i think there is less fees when non credit cards are used for eftpos

>cannot be manipulated by jews
Stop trolling >:(

The CBOE just opened trading on bitcoin futures. If you feel compelled to trade it you should almost definitely be trading the derivatives so that your downside risk is capped at a number that isn’t zero

One stock exchange in the US recently opened up for BTC trading. And I believe two more has announced. A lot of other exchanges in the US and other countries will likely follow, which means injection of even more capital.

It's hard to justify BTCs current value, but it's only going to continue even further up, until it says BOOM. It's fucking impossible to say if it'll be $30k or $100k by mid-2018.

>decentralized
>you don't know who owns what

Public ledger is freely available to be exterminated.

>deflationary
entirely off of speculation

That's a funny way of spelling "limited supply".

> it doesn't have any real world use like you can't make shit out of it like gold or Oil

Stupid goldcuck shit. Currency is a system of tokens that measures wealth ie non-financial goods and services. It is a token that manages the distribution of these things in society so that we don't have to trade shit directly because godamn walking 3 goats into town for a haircut. The token can be literally anything.

The best use of Bitcoin as money I can see is that it is used in online transactions... sometimes. Of course the underlying issue with this is that we are in tech stock bubble no.2 and most internet business is propped up by venture capita, ad rev. and government subsidies rather than actually pretending to turn a profit offering services. The other thing is that it's being traded as a purely financial product equivalent to printing paper. Even if it was gold and not paper being manufacturered this is still a problem as the value of gold as a commodity doesn't mean shit when a government is increasing the supply of tokens while it's actual productive capacity is stagnant or declining.

Tldr; lolbertarians are retards

that's actually a good idea, but the problem is if you pawn a bitcoin you're a fucking retard who probably has never heard of it before

Screen capped.

> Coiners

except it is deflationary cause theres a zillion copycats that run the same SHA-1 coding

Unironically Asians.

Trading in just South Korea has outpaced total US trading

limited supply of a pattern of numbers. You can draw arbitrary lines in math-world wherever you want and make limited supplies everywhere. You can do the same in cryptographic math-world.

You can have whatever public ledger you want, all it takes is a large enough proportion going off script, say in one big short, when public opinion is at its height, and the whole thing comes crashing down. It's purely speculative. It's a symptom not a cure. As long as it's around you can probably make money off it if you aren't brain dead.

>Acquiring wealth with currency is pretty jewish though.

Oh no. It's almost like we've out Jewed the Jews.

Some people have been paying like $2000 in fees to get their transaction to go through

>limited supply of a pattern of numbers.

Literally any non-inflationary currency.

>You can have whatever public ledger you want, all it takes is a large enough proportion going off script

Which they can't because it's public. But it's been good talking to you.

Jeff?

no, they are offering futures contracts. this will allow bitcoin holders to hedge risk in the asset they are holding by betting against themselves.

it will stabilize price. what we are seeing now is low volume rise, and that's likely some propping up of the new instrument. You would expect futures to go negative if Bitcoiners were selling futures to hedge their positions.

Since the fees have become so high, BTCs only function is acting as a "central bank" for trading other cryptocurrencies. Other than that, it has become nothing more than a speculative bubble, which will no doubt continue into 2018 as even more normies want to get rich quick. Until it says boom.

I'd prefer that it stayed around $1k indefinitely, but that won't happen. So I'll continue to use BTC as the central bank that it is, and use other more efficient cryptos to actually purchase shit.

amazing that people here are unironically shilling against btc and crypto. is this board full of normies now?

sorry, *inflationary

>Since the fees have become so high

That's not really an issue.

> BTCs only function is acting as a "central bank" for trading other cryptocurrencies.

Cool jargon bro! That means nothing!

>cant be manipulated by jews
*hurricane force breath in* BOI

/pol/ has always had a lot of tech illiterate turds who've shat on BTC since it was $100, all the way up to $17k. It's probably a 50/50 split between the crypto salvaged and the tech illiterates.

>1
Backed by force or scarcity of a physical object.
>2
You're telling me people aren't allowed to sell Bitcoin when they want to? Further are you telling me you've got the actual identity of the people on that ledger, on that ledger? That's foolish. I never used my name when i bought bitcoin to use the silk road half a decade ago. It's trivial to invent a simple spoofer to hold 1 BTC per identity and still have 10k BTC.

>buy massive amounts of bitcoin at 10c
>fund massive 'viral' marketing campaign to exploit cheap money and drive prices up. Succeed by 4 orders of magnitude.

>short bitcoin, sell stock, invert campaign. Make real bank in real money, turn it into land holdings.
OR
>slowly liquidate BTC before it tanks, turn it into land holdings

I'm up 500%... The only people that havent made money in bitcoin are the retarded fucks who cant spend 15 minutes on youtube to figure out what it is, how to buy some, and why it valuable.

Nobody is going to hold your faggot hand through life.

>That's not really an issue.

Are you fucking serious? In the last 2 weeks the blockchain has been so fucking congested that you have to pay a $25~ fee to move anything, and even then you have to wait several hours for the transaction to go through.

It's the reason every online store removed BTC as a payment option. Because no sane person would pay a $20 transaction fee to buy a $10 game.

bitcoin is wort like 300 billion dollars. Thats like 1/3 of google.

More people need to buy BTC and other crypto currencies my goy, I mean guy!
>0.30 zimbabwean cents have been deposited into the OP's wallet.

> In the last 2 weeks the blockchain has been so fucking congested that you have to pay a $25~ fee to move anything

Then why did I only pay 2 cents on Gdax? Wow... It's almost like you're full of crap.

>$300 billion is a 1/3 of google

holy shit.

Just check the blockchain now. 130k uncinformed transactions. 7.67 transactions per second.

There's not nearly enough hashing power to get the all the transactions through in time. Any transaction that goes below a $20 fee will never confirm.

>2 cent transaction fee
>thinks it's still 2009
Confirmed for fucking retarded and having no fucking idea how BTC works.

Yes but for long hold... its a stable real world currency. Bitcoin has seen amazing gains and i think they will hold the majority but ripple will be huge in the next two years and very atm imho.

Saw a notable banking Jew shilling that bitcoin would reach $1 million per coin within 20 years. Which is exactly what notable banking Jews do to squeeze the last bit of value out of their positions before they dump them

Notice the correlation between the timing of bitcoin huge jump, and the timing of the Saudi busts and the timing of the US bombing of poppy fields in Afghanistan.
I also believe there was another off shore banking leak during this time.

Bitcoin rise isn't due to Joe Shmoe buy in, it's dark money being moved.
When governments get sick of it they'll make it illegal for registered domestic businesses to perform transactions with crypto currency.

Now, this will not stop bitcoin or crypto currency, but Joe Shmoe isn't flying on a private jet or sending his yacht to Trinidad and Tobago to make a transaction and bring back physical money to interact with retail and grocery stores.
Crypto currency will go back to dark money, and exchanging the currency will be costly.

US makes it illegal to bring over $10k back into the country without paying capital gains and declaring it.

Literally just a speculative bubble right now, it doesn't even function well as a currency.

Eventually the price is going to crash, some people will make out like bandits while others will lose their investment like idiots. It won't die entirely because people can use it to launder money too easily. If it pisses off governments enough they'll probably start fucking with it in a big way.

I like a lot of the technology behind bitcoin though, it'll be nice to see how it evolves and if anyone takes it further to a larger scale.

>Backed by force or scarcity of a physical object.

And bitcoin is backed by scarcity. No one will create more after 21 million.

>You're telling me people aren't allowed to sell Bitcoin when they want to?

No, I'm just saying that won't take them off the ledger.

I just realized your whole argument is "Bitcoin will fail if it dies."

Yes. I agree. It will fail if it dies. Good talking to jew.