I think we can all agree that the fundamental value of Bitcoin (btc) is 0$ now, it has become completely useless. It's only a metter of time till normies realize that bitcoin is completely useless and their 10$ investment is now completely gone in transaction fees.
Now, other cryptos have some merit to them, but once bitcoin reaches it's real value, all the crypto market will collapse badly.
Do you agree? is this the end?
fuck off fudd shill. BTC IS the gold standard. stay poor or go into tether.
HOW? theres never been such a disconnect between market value and real value.
I've been in Bitcoin since 2010, and never for a second i thought that bitcoin had zero value. But now i can safely say it. With these fees and confirmation times. Bitcoin is completely worthless. There are much better alternative for every possible usage. The market will slowly realize that bitcoin is now worth nothing, and that will hurt.
I'm 100% in bitcoin cash now, and i really dont wanna get out of the market cause i believe in crypto.. but at this point i am sure i will lose all the gains i made in 2017, because once btc crashes, the entire market will crash badly and take years to recover if ever.
agreed
if BTC collapses, all alts will collapse as well and become absolutely worthless
without BTC the crypto market doesn't exist
market value = real value
keep on fudding corecuck
oh god
Fundamental value is a brainlet myth.
BTC has a value of whatever people will pay for it.
fundamental value drives the real value goober
so explain why would anyone want to buy or use bitcoin now?
The argument was already weak in the past, but now it's completely gone.
The only remaining reason someone would buy btc is 'cause there might be a greater fool later on buying it from me for more'.
That's literally ponzi now, that's all there is to it at this point. It's bound to collapse
What was the fundamental value of BTC a month ago?
What was the fundamental value of BTC a year ago?
five years?
a year ago (or more) it was used on deepweb for drug trades, other transactions you didn't want the government knowing about. This of course doesn't happen anymore, and will get more regulated by governments to shut down these transactions.
a month ago, it /was/ used for more mainstream transactions, but was discontinued from many due to steep fees and fluctuating value.
Its 'fundamental value' is driven by the actual uses (purchasing power) it has. The problem is you can't buy anything with it, and its a more expensive alternative to traditional currency exchange
it could be exchanged with other people and you could buy things online with it. Now more and more it cant be exchanged (something like 55% of addresses contain less btc than the transaction fees to move them..), and sites are dropping support for it because the fees are too expensive.
Tbh I'm not too worried about my money, I only invested what i can afford to lose, but I'm worried about all the less informed people who bought in big sums recently, in hopes it will be their ticket out of poverty, and they will lose everything. People who convinced their family to "invest". Their relationships will deteriorate.. there will be suicides.
I have a really bad feeling about this
Nonetheless, $1B of value moves across the network on a near-daily basis. This means that, analyzing Bitcoin as a currency, it is actually trading close to its fundamental valuation within the 1-year interval.
Seeking Alpha
So you believe that it had value before, but now has zero value? In other words not used at all
Idk dude. People in places like India still love Bitcoin, especially for international payments.
Adoption is still really low, and to get to alts, you have to buy bitcoin. I bought in at $4k so if it slips to $8 or $9k that’s okay with me.
I doubt it will though. I think it if it drops below $10k the normies and fomo’ing nocoiners will pounce.
It’s insane we’re at the levels we are today.
i used it in the past, on silkroad, on steam, vpn services, i'd tip people on reddit,
it could be actually used. Granted the value has always been a bit disconnected from the fundamentals of actual utility, but people could envision a future where adoption would raise even more.
Now the adoption is decreasing, not increasing. Lots of websites are dropping bitcoin, there's more dropping it every day, even the big players like bitpay are discouraging transacting in bitcoin. Fees are absolutely insane, and even if they go down, how can people trust putting money in a wallet where the fees could go up again if theres market congestion and they wont be able to get it out anymore? Plus you have to be careful about the number of utxo's.. like 1 bitcoin is not always worth 1 bitcoin, cause in some cases transacting it will cost you much more.
Bitcoin's value proposition has always been to transact all over the world with low fees and quickly. That value proposition is gone now, what's left? Fucking beanie babies
daily reminder we were at less than 1k this same year. Price could easily go back to less than 1k, especially with these crazy conditions
The fundamental value of Bitcoin is that it can be used to buy shitcoins.
USD pairings for alts would change everything.
I think it would have to maintain this rally or fall to 8k-9k and rally to new highs to attract substantial new normie money. Most still believe it is a mania
and will believe it is going to zero if it falls more and fails to make significant gains. If bitcoin fails, it is unlikely normies will ever enter the alt coin market. It will confirm deeply held beliefs that are just now starting to turn
Not true you can buy alts with ETH and LTC
BTC and BCH are old crypto, that new money is just finding out about.
The early adopters have left these two shits coins, the scraps if you will for the normies to play with.
meaning it was a massive bubble?
If you've been here since 2010 you should understand that tx times and fees don't matter
Bitcoin is still the most powerful and secure network in the world. You think it's worth $0?
Kill yourself pathetic ass fud fuck
>BTC and BCH are old crypto
>mentions LTC in previous sentence
what the top 5, 50, 500 shit coins. It would be a complete circus
Early adopters are still in btc. Alts only exist for pump and dumps. You are clueless.
You are forgetting that those miners can switch to bitcoin cash tomorrow if they wanted to. There were already times where bch has had more hashpower than btc. Next time that happens, with the current crazy fees and increased congestion, it will be quite bad
>that new money is just finding out about.
new money has known about it from the beginning, but has been very skeptical about it. That is beginning to change as normies recognize that the blockchain could be revolutionary, but it is a bridge to far, to expect that to continue if BTC fails because in there minds they are the same.
this
Just a point that you dont need BTC to purchase ALTS.
This method of thinking reminds me of the time when BTC was $10.
You can lead a horse to water....
>muh digital gold
>There were already times where bch has had more hashpower than btc
Because the ones with the most hashpower were playing games.
because it was more profitable to mine bch at that point due to diff adjustments.
Anyway yea the fact that so few big miners have so much control is also kinda scary and a bit of a failure of bitcoin
HAHa Ha Ha Ha Ha.
One thing I’ve learned on this board is buy the FUD!!!
All in on BTC now
Look back on this pistons month from now.... you’ll kys.
whats your opinion on anonymous coins like monero?
once bitcoin bites the dust people will then have a decentish free market to go with the most viable coin with the best features like speed, transaction fees, ability to small time mine and anonymity
they surely have a higher intrinsic value than bitcoin due to their properties being more free market
are you guys saying that crypto is no longer the future and fiat will continue forever??
>gold standard
>takes three months to transfer funds
that day is closer than most of you here would dare to think
So, this is just my opinion (whereas the fact that bitcoin fair value is 0 is a fact now).
All things being equal (if the market were to restart from scratch and all coins presented at the same time), I do believe that coins with privacy built in are more valuable. In fact, whereas people like it or not, I believe that the biggest use case for cryptos are illegal activities. Drug commerce, sex commerce, money laundering, evading taxes and capital controls, and so on. Those are huge markets, whereas people like it or not.
Now I haven't actually done my due diligence so idk if those coins offer "real" privacy, i've heard here an there people saying it's not that simple, and what are the tradeoffs in terms of computational power, speed etc. Also it is possible to achieve decent anonymity on bitcoin too. But anyway, with my limited knowledge, if someone forced me to put all my momney into an altcoin i would definitely go for one with privacy properties so maybe monero.
>are you guys saying that crypto is no longer the future and fiat will continue forever??
I never believed that crypto is the future desu, but that's just me. It's also why I'm not a billionaire even if i was an early adopter.
Cryptos are more like commodities or contracts with the nice feature that they can be quickly exchanged worldwide and trustlessly, but I've never seen them as a currency and don't think they ever will be.
The main property of a good currency, and the main goal of central banks, is price stability. You want fluctuations in value to be as low as possible, and that can only be done with a central bank controlling the supply.
There is also a potential case, where, if a crypto is used so so much by a lot of real economic activity, with people being paid in crypto and market caps in the trillions and more, maybe maybe it would be a bit more stable, but it would still be super hard to reach a stability similar to a central bank coin.
>you're R e T A R D E D
go home stoo pid
Fuck of, oracle is real problem
whats with these bots? Someone trying to manipulate Veeky Forums sentiment by bumping certain threads?