Bitcoin

But you can have an unsustainable exchange rate, bitcoin's value in terms of fiat currencies.

>crypto is supposed to replace fiat
oh, sweetie *drops mic*

Should I buy after the inevitable crash? I've got some shekels saved up and I'd rather waste them on a potential profit than drugs and whores.

the ride is what matters, not the destination

So you didn't buy any coins a year ago when we told you to did you?

I bet you had a couple thousand sitting around you could've thrown in but you didn't cause you you were too afraid. Enjoy the 2% interest on your savings account (if you're lucky) as it helps slow leaf inflation that is decimating your saving.

tl;dr stay poor forever

everything else makes no sense. either you want to pay taxes and suck the governments dick or you don't. a simple choice you have to make. either A or B

A

bitcoins value comes from peoples lack of trust in fiat; these "wild" exchange rates just show how truly worthless people feel their paper money really is.

>there is a limited amount of X, therefore X must become exponentially more valuable
>it's unimportant how much X costs in terms of the currency you actually use in RL transactions
>bubble equals inflation

these are three dumbest bloody diarrhea statements i've ever read in my life and i'm sorry for your keyboard for enduring it being typed on it.
this should be examplified in schoolbooks as retard logic

The gov can't exist without taxes. You pay taxes or you live in a lawless country. Btc cost something like 15 dollars for every transaction now. It can't replace fiat.

Btc's value comes for hype and bandwagoning.

>ride is what matters
>takes ride to bottom
Destination matters more, brah

coindesk.com/coinbase-reminds-users-to-pay-their-bitcoin-taxes/

>go back to october
>same trend observable
>three times a year since 2015
I sure hope this shit stops one day

i never said it becomes MORE valuable. IT DOES NOT. the value of bitcoin is always the same. like gold

only when compared to DOLLARS. but i don't care about DOLLARS since crypto is not a fiat currency for me. its supposed to eventualy REPLACE fiat with a new system

I just wanted to say some cool stuff.

Have you ever heard of supply and demand?

Yeah I have a business degree

i pay taxes right now and live in a lawless country.

they can still get taxes and money from the income tax or property tax or tarrifs etc

Value is based on demand and supply, not on supply alone. Crypto may replace fiat, but btc will not. Btc is far to expensive and slow for common use.

...

every single currency right now is either traded in dollars or BTC. BTC is the gold of the crypto world. and i doubt any currency will replace BTC as THE base crypto for trading in the next 3-5 years.

no excuse to be a nocoiner in 2018

>Btc's value comes for hype and bandwagoning.

yup, its long term value trend has not been at all influenced by people distrust of the established global financial hegemony.

wait, I forgot to load:
>FiatCurrencyTopKEK.dmg
>end_the_fed.jpg
>chinesepeopleprotectingtheirwealth.exe
>Chinks_seeking_VanCity_Realestate.pdf
>Silk.Road.net
>stopthejews.pkg

need I go on?

>BTC is the gold of the crypto world. and i doubt any currency will replace BTC as THE base crypto for trading in the next 3-5 years.

Completely baseless claim and devoid of logic.

So you think it's long term value is based on people's stupidity and crime? Fair enough, but how do you think it will replace fiat when it cost 15+ for every transaction and 30 min wait times?

Great. Then you know about the fiat system of currency?

You agree that CDN$2 gets you a large coffee at timmies, I agree it does, and so does the store selling it. Since we all agree we trade currency in exchange for goods. In reality currency has no actual value. My opinion would be that, on the very edge anyway, the only things that carry value are basic necessities -- food, water, shelter.

Bitcoin simply using this strategy but since the supply is limited its inherent value increases. There are currently something like 16.7M bitcoins, and there will only be a maximum of 21M. As long as there is demand and people are willing to trade their local currency for bitcoins then it will have value, since we all agree.

The recent dip in the market, I would argue is caused by early adopters taking profit (you know what that means as well right?)

>long term value is based on people's stupidity and crime
if i remember correctly burger your country is based off of similar principles.
Your response to leads me to believe that you are a no coiner, as if you have ever been on any crypto exchange you would soon realize that once you have bitcoin you can acquire literally any other asset online. Hence, digital "gold". Etherium is becoming a close second, but overall bitcoin is king and likely will be for a while.

I would also argue that bitcoin is not the end-all/be-all.

There will be a coin war in which only the best will survive!

I think the real coin war will happen once quantum processing is more obtainable.

>will crash. It's inevitable. If you're in, get out. There are going to be a lot of broken hearts by the end of this; don't let yours be one of them.

What's that you say? Buy now because the price is going to skyrocket? Ok!

>how do you think it will replace fiat when it cost 15+ for every transaction and 30 min wait times?
It won't replace fiat in that capacity, its simply not designed to do that; Think of it more as a unit for setting a base value to all entries across all accounts. Once that is established all the trading and shifting can be done on credit over the short term and behind the scenes the bitcoin which store and exchange the real value can be allocated on a slower basis.

in my view that is the system we are growing towards; BTC or another major crypto is essentially gearing up to replace the role of the USD as the global reserve currency.

god fucking dammit. An acquaintance of mine, a guy who most people consider "eccentric", told me about 3 years ago that he was pulling all his money out of any savings he had, maxing out his credit cards, and putting it all into bitcoin. I thought he was retarded. He ranted and raved at me to invest in bitcoin and I ignored him.

He put something like 10 grand into it 3 years ago. How much is it worth now? Jesus.

>no coiner

Most people educated in business are no coiners. Cryptos are not accepted for virtually everything. Everyone who claims to accept btc uses a service that immediately changes it into dollars. No major company keeps btc wallets. In fact, steam stopped accepting it due to high fees. Nice that you or anyone else would respond to my claim of

>how do you think it will replace fiat when it cost 15+ for every transaction and 30 min wait times?

>As long as there is demand and people are willing to trade their local currency for bitcoins then it will have value, since we all agree.

This is one of it's flaws. It has value because supporters think someone else values it but has no value by itself. This is not true for fiat, which has value because it allows the gov to regulate the economy and can be used to pay taxes.

We have til september 2018, mark my words.

millions of shekels if he's iron hands friend. sometimes those guys are the advice you need.

Last february my drug dealer friend told me to buy as much etherium as I could get my hands on. Price was $14.00 (CAD) and I can't express how glad I am that I took his advice

Thanks for the wall of text. You could've just said "the supply of bitcoin is finite", to which I'm already aware.

Still doesn't matter. When the demand for bitcoin falls (which it inevitably will - it already is starting) then it doesn't matter that the supply is finite.

>It has value because supporters think someone else values it but has no value by itself. This is not true for fiat, which has value because it allows the gov to regulate the economy and can be used to pay taxes.
EXACTLY.

>This is one of it's flaws. It has value because supporters think someone else values it but has no value by itself. This is not true for fiat, which has value because it allows the gov to regulate the economy and can be used to pay taxes.

I can agree with your argument -- but I hope you see the other side of this, a lot of the people and businesses that are interested in bitcoin and altcoin are so they can remove the governmental controls of monetary systems.

You have no education or experience in business do you? There's no other possibility.

Think the lowest it was 3 years ago was sub 1000 probably even a crash to 200$ at some point.

Well personally I think its hard to lose your money now if you lift your heavy bags once a pump and dump hits a coin, and it seems they almost hit all coins.

2018 is the year of alt coins. Get in before all the normies and make bank

oh lawdy. do you not realize bitmeme isn't used in any transactions? like, at all? do you realize currency means "in circulation"? bitshit isn't in circulation nor is it a coin nor is it currency. it's value isn't based on it being adopted as a method of wealth liquidity, but on it being a product which value in actual currencies is rising. replace bitmeme with mutated three legged cows or with gold - it's all the same. geepers, how do you think gold became a currency? it's because gold was an expensive metal on it's own, many very valuable stuff in ancient world were made with gold - a noble metal with aesthetical properties. So gold is somewhat expensive even after it seased to exist as a currency. But bitshit is nothing on it's own, it's not used in RL transactions and even it's withdrawal is a pain in the ass. so fucking WHAT if it's rare and can only be "made" by meaninglessly stealing processor power? it's still worthless as a non-currency. And since it's also neither a currency nor a non-currency, we can safely and rationally say bitdiarrhea is NOTHING AT ALL.
like with medusa in greek mythology, believe i'm actually losing IQ points just by glancing at your meaningless words. fuck you, i'm going to bed and close my eyes, trying to forget there are people running about who are so dumb clueless about basic economics and yet they're setting off the idiotic calf-herd trends which will be the ultimate demise of our civilization

Shorting it could make it a fun ride down, of course there's always the risk involved with that

>When the demand for bitcoin falls (which it inevitably will - it already is starting)

I disagree. I think part of the problem with coins, are the exchanges getting people on board.

Once the exchanges get it worked out I believe the values of the coins will start to rise again.

Also, unlike you, I am open to being wrong, and I will liquidate my stash of altcoins before the value of them decreases below what I paid + fees.

>i still don't get how it is supposed to be a bubble
It's a bubble because people are paying tens of thousands of dollars for useless monopoly money in the hopes that it goes up in value (I'm gonna buy lambos in a year hurr durr)

>Most people educated in business are no coiners.
Most people educated in business are getting left behind in our new economy. I went to school for mathematical economics for 2 year and dropped out cause that silly degree wasn't worth 60k when all it was going to get me was an analyst position (at best) where I would be competing with robots. All middle management positions and lower now are staffed by endless units of labour in direct competition with each other AND robots.

Investing on the ground floor and trying to build a new platform/ structure for a new economy is the way to make it now friendo.

What you define as "Value" is increasingly arbitrary these days, especially when your "gubermint" argument has proven to be completely co-opted by established, anti-competitive special interest groups.

>how do you think gold became a currency?
because it's antibacterial nontoxic and malleable, easy to identify and doesn't corrode.

People yes, businesses no. Businesses and economist overwhelming prefer money being regulated because they are a prime target for fraud. Zero regulations does not work.

Its a bubble, but its a global bubble, while other were local ones.

Came here to see losers cry about their cryto foolishness.

Just admit it. You didnt know what you were doing, and you made an impulsive decision.

t. not hedging multiple coins as a portion of your portfolio

>economist overwhelming prefer money being

(((They))) do, certainly.

>businesses no.

I disagree. I believe once the markets stabilise and people are more aware of the advantages and disadvantages we will see more investment from business.

>regulated because they are a prime target for fraud

What types of fraud do you see or predict with coins?

>Most people educated in business are getting left behind in our new economy.

Ah, so the educated folks with experience are the fools and the ones with no education or experience are right. Good to know.

>Investing on the ground floor and trying to build a new platform/ structure for a new economy is the way to make it now friendo.

It's actually a good way to go broke. The mass majority of new investments fail.

see my other posts user, I may not have a traditional business education, but I do own and conduct a successful business.

>big whales cashing out at the end of the year
>market "crashes"
>bots in place to keep the price from going under 10k
>big whales reinvest
>price goes up
>rinse and repeat
its all working as intended

CRYPTOCURRENCY IS THE FUTURE!
IT HAS ALREADY BEGUN!
GET IN OR GET LEFT BEHIND!

I'll admit it, at first I didn't know what I was doing, I made an impulsive decision on the advice of a friend, and 9 months later I made $190,000.00

The only thing scary to the establishment is that there are some whales with far right views that are becoming billionaires overnight. Bitcoin will prevail because of the way currency production reflects the actual status of the market. Mining power can immediately be shifted to other coins should they be more profitable. Bitcoin will destroy the establishment and there is nothing they can do. Fuck them.
/Thread

lol

>I disagree. I believe once the markets stabilise and people are more aware of the advantages and disadvantages we will see more investment from business.

It's the other way around. Btc is suppose to be a currency, but with 15 dollar min fees and 30+ mins waittimes, it's unusable as a currency. If I want to buy something with fiat, I can just buy it and be on my way. If I wanted to buy with btc, I would need to wait 30+ mins for the transaction to clear and pay a 15 dollar fee on top of that. Btc is useless as a currency.

Payroll fraud and white collar crimes. Being able to send money to an unknown wallet with the transfer being unreversible is a big deal.

I will first buy a mansion with my bitcoins then I will install a sauna in my mansion

That's called the labor theory of money. Basically value being based on the work put in instead of it's actual utility. It's considered shit even by communist.

>It's actually a good way to go broke. The mass majority of new investments fail.
You actually sound ridiculously like my dad; its kind scary, are you like him too? have you been working for 35 years, own your home and not much else, counting down the days to retirement? He and my mom always told me starting a business and investing was dangerous and never offered anything but pessimism.

How come I'm 24 and own my house, a cottage and 3 cars? internet meme dollars and shopify buddy.

Actual BTC money transfers are considerably faster than banks today, but banks can get away with throwing IOUs around because they're trusted
For people who want to actually hold the money they're receiving and be safe from chargebacks, BTC has advantages, as well as those who disagree with modern banking practices

>It's the other way around. Btc is suppose to be a currency, but with 15 dollar min fees and 30+ mins waittimes, it's unusable as a currency. If I want to buy something with fiat, I can just buy it and be on my way. If I wanted to buy with btc, I would need to wait 30+ mins for the transaction to clear and pay a 15 dollar fee on top of that. Btc is useless as a currency.

I agree, but with a slant, indeed, for immediate purchase local currency is the best way to go!

However for other types of purchases/online purchase, large items that take time regardless of currency, or large transactions that involve many parties to transmit large sums, BTC and altcoins are a good alternative. Imagine BTC as the gold behind the dollar?

> Payroll fraud and white collar crimes.

This is kind of why I like it. Again removing the controls of the government.

>Being able to send money to an unknown wallet with the transfer being unreversible is a big deal.

The developers are working on a few things to aide with this type of fraud

No, I'm 35 and retired. Your parents are right. Statistically, businesses and investments have incredibly high failure rates. It's something like 75% of all businesses fail in the first 5 years and 95% of all new investments. The fact that you're trying to argue against this with a personal example shows that you're not that bright. Rather than saying you're successful, I'll rather say that you larping on the internet.

but BTC transfer costs $25
How the fuck is BTC going to replace currency if you can't even buy shit with it?

Personally for the transfer of currency I see ETH as vastly superior to anything out there today (yes even better than SWFT). its super fast and reliable, price is stable and its getting widely accepted. I think for transferring funds either ETH or XRP will reign supreme, but BTC will remain for a while the gold standard in terms of a store of value and unit of exchange.

FUCKING

>but BTC transfer costs $25

Are you referring to local currency exchange?

I can send you coins right now with banks, no intermediates at all, with no transaction fees.

The fees come into play when converting.

etherium is going to have the same problems as BTC. Prove me wrong

>Most of /pol/ agree that buttcoins and their alts are a scam.
No, only the salty nocoin retards think this. This technology won't die, maybe Bitcoin eventually will lose it's number one spot but then some alt will replace it.
Anybody who has a little bit of technological understanding and has done some research will know this.

Is it? Isn't it one million dollars apiece at this point?

>send you coins right now with banks, no in

...with +no banks

no, simply transferring between wallets costs so much it's not even worth it. You will never be able to make every day purchases with it.

>Again removing the controls of the government.

What does that have to do with fraud and white collar crimes?

Etherium is literally designed as a platform for administering contracts using its currency; its a layer more complex than bitcoin, which was designed more as a store of value with little thought to the transaction process.

Not as long as kiddie diddlers and drug addicts want to proliferate their bullshit

The gov will make their own cypto and this will kill all non-gov coins.

>What does that have to do with fraud and white collar crimes?

It is only a crime if is regulated, yes? If there are no government controls, then there's no crime committed. From my perspective. What is your perspective on payroll and white collar crime?

Surrrre you did.

More like several thousand

Fuck off faggot you need Bitcoin to buy most of the Alts.
I made a thousand dollars tonight riding the tail of a 150% spike on TRON and an 80% spike on FUN and all my capital plus my profits was back in my BTC wallet within a few hours.
But keep being a salty dickless wagecuck with no balls and no fucking future and see if I care loser.

All I'm saying is I got stupid lucky with etherium cause i'm stupid enough to be impulsive and hopeful.
The decade between 2008-2018 will probably be the greatest time in history to be financially reckless and impulsive

I think you're pretty cool, so it worked

By OP's logic
>Apple is a bubble
>Google is a bubble
>Amazon is a bubble

Take a look at their lifestime stock rises

Or maybe you're too scared to get off the 401K joo to invest

OP is a leaf. He doesn't have a 401k

Can i send tulips across the globe to pay my bills? I think no.

Would it be so much to ask that the new product that is making everyone rich actually did something? Is anyone going to make anything real ever again? When is any of this going to improve life or improve the conditions that people live in? You'll recoil and give me the automatic answer "hard work", but what does this also have to do with work? What the fuck is this? Seriously what are people doing? Is it a cult, is it Satan trying to punish me for downloading mp3s when I was a teenager? I swear to Christ, I need a cookie before my blood sugar gets any lower.

collection of Maple syrup or government subsidized hormone drugs for sex changes or Tim Hortons enemas

Whatever leafs think makes people happy beside money

So without gov, murder isn't a crime either?

personally, I say invest for the lols

If you invest $100 and it goes to $1M per coin youll make $10k
>if it doesnt get to $1M John McAfee will eat his dick

I am fine with either outcome

All of those companies produce something of value. Btc isn't even useful as a currency now.

ya ur dumb, bitcoin is for shilling to make gains and funding child traffickers nothing more