Who the hell keeps buying BTC? Who are these people who dump in average more than 2 billion per day into it?

Wallstreet. Bitcoin ETFs are coming. Big fucking money. This is the start of a .com style bubble, except bitcoin is the internet. BTC will reach 1mil. Anyone who buys 1.0 BTC right now will be a millionaire in a few years.

if it was that easy. everyone would do it.

Everyone IS doing it, hence the parabolic price increase. Only the laggards and poor who can't afford $15k BTC aren't.

BTC is not a currency or an investment, it is a gamble. It only destroys value, not produces it. Every single cent some people win through BTC someone else has to lose.

The only people around BTC I respect are those who actually cashed out in the order of millions. Everyone else who hypes BTC is just an idiot. Money and actions speak louder than words. To all the people who think they know the future so well I ask: why are you not a billionaire yet?

Secure storage of value, with no central point of failure, creates no value? Lmao you are brain dead retarded. Poorfag logic right there.

>Secure storage of value
wrong
>creates no value
correct

>name calling
ok kid

bitcoin is a peer to peer electronic cash system

He's right to be honest you mongoloid. The value is not created by making a magic unbreakable coin but by the trust and use given to it.

I think it has to do with BTC/USD pairs. When people enter the crypto market with more money, whether they're new or not, one of the things they buy is BTC. Then they trade that BTC for other crypto, which doesn't immediately affect the USD/BTC pair.

>not realizing that theres literally hundreds of billions of dollars on the sidelines waiting to get in on this

2018 will be a good year friends

Ok then, stay poor fags if you never saw how bitcoin created immense value its no wonder you didn't buy in early. Its going to be hilarious when BTC hits 1mil and your dump ass is on Veeky Forums "why is anyone buying this?"

>people are actually this retarded

this is why wealth and intelligence correlate

I do have bitcoin and other cryptos, but I don't spout retarded shit like that it creates value. Get fucked.

Go ahead and prove to me that you are rich. Or are you admitting that you are stupid yourself?

Literal retard. Bitcoin would have a 29Trillion $ market cap at that price. Surpassing global M0 by a factor of 3. If you don’t understand why that’s not possible/highly unlikely you should stop posting here.

The ability to store value in a decentralized trustless and secure system creates immense value. If you can't see that you are doomed to be poor.

m0? Lmao. Total USDT value on earth is $250T+. Not even taking into account inflation of USDT when crypto takes over, 1-10m is entirely likely in the next couple years.

Also, bitcoin mcap is far less than what people calculated based on 21m supply as about half the coins are lost or never spend.

Fuck that who keeps buying eos through the ICO. Where are so many ETH coming from everyday? One day I think I will get it cheap but nope.

damn, you know your shit.
I appreciate the research you've put into this, and thank you for sharing it. I hope others seriously consider your warning

more like trillions

damn, you know your shit.
I appreciate the research you've put into this, and thank you for sharing it. I hope others seriously consider your warning

i dont think it can scale to be a million.
without real world transaction use its just a store of value.
i cant envision everyone putting their money into digital gold at anywhere near that price.

If you can't even tell the difference between USD and USDT, just shut up please. You make a fool out of yourself.

Sorry what are you referring to with a $250 Tn market cap? What do you mean by USDT

Everyone? There is only enough for some of us

That's why its valuable

you know btc ia divisible by 10 million right

Sorry, used to typing USDT. I mean that the total value of all assets on earth are well over 250 trillion USD. Comparing bitcoin to the m0 money supply is retarded, because 99% of all transactions are electronic, not physical exchanges of paper money.

Even if BTC only took up 10% of USD transactions, that would justify a $1-10 million value per bitcoin from the demand to make transactions alone. If you include the fact its a secure and trustless way of storing wealth its potential far exceeds the cap of USD, potentially taking a huge chunk of the precious metal and security market.

And thats 1-10m of the current USD value, not even taking into account inflation.

>store value
You're not storing value retard. You're storing a number.
Bitcoin isn't backed by anything, it literally halved in value just a few weeks ago because there's nothing cushioning the fall.
That's okay if you're playing with your own money trying to make a quick buck, it's not okay if you're a serious company or even government

>Using fiat
You're not storing value retard. You're storing a number.
USD isn't backed by anything, it literally bleeds in value ever single year because there's nothing cushioning the fall.
That's okay if you're a government trying to take on debt to pay for everything, it's not okay if you're a serious company or an individual trying to make money.

You are an absolute brainlet

Just because something is highly divisible doesnt make it infinite in supply

I can't believe I even need to explain this

>USD isn't backed by anything
lol, let me repeat high-school economics:
USD is backed by everything you need it for (I.E. to buy american products). This gives USD inherent value unlike BTC which you don't need for anything except some obscure drug-trade. In addition, if USD would have dropped 50% like BTC just did, american goods are suddenly half the price to the rest of the world, that would lead to the biggest demand spike of USD in history, rapidly increasing it's value without volatile speculation.
>it literally bleeds in value ever single year because there's nothing cushioning the fall.
lol, see en.wikipedia.org/wiki/Inflation_targeting

>literally defending fiat

Don't buy BTC then if you don't believe in it. But remember this in a few years when you're wagecucking hard and hear on the news BTC just hit 1mil.

Please be troo

>Don't buy BTC then if you don't believe in it.
Only retards need to be emotionally invested in their investments.
also pic related

...

It was that easy 5 years ago.

this retarded circular logic, you are dumber than a creationist

its still incorrect though

Folks like Warren Buffet calling it a FOMO

they're are Coinbase noobs