Oh no! Prices are back to what they were 3 months ago! Crypto is dead, this is the end! Beanie babies! Tulips! Pets.com!

>t. retards who live in privileged first world countries
Go live in Venezuela and tell me whether their existing financial technologies work, and whether crypto is uesless and too much effort for them.

Go live in countries without reliable banking systems or fiat currencies and tell me whether crypto is useless and too much effort for them.

There laughing saying BTC IS PONZI

People pay for loaves of bread with Phone Data in some countries. I'm sure people won't think its inconvenient to tap their phone to pay.

Translation:

countries without reliable electricity, running water, and toilets are going to benefit from a currency that requires stable internet access and access to 1st world high tech.

OK, I guess that's one theory.

We're not done going down. The total market cap will hit 100b or even 50b. the days of easy money in crypto are over. unless they can show real world applications shitcoins won't go up in value. no applications exist, so we have nowhere to go but down.

Which takes us full circle.

Consider Sweden, who is rapidly about to become the first non-cash society (more than 1/2 the banks no longer carry cash, and the are the first nation with plans for an all digital currency).

Why do they need bitcoin or other coins when they already have a system that does the same thing?

>You guys are pussy ass little bitches
say that to my face faggot.

>Why do they need bitcoin or other coins when they already have a system that does the same thing?
It's faster having 2 people in a transaction as opposed to 3.

Standard "massively in denial" playbook

Start by insulting everyone and generally asp out with lots of posturing.

Then move into muh technology rant that hasn't been valid for two years

Then comes the bargaining, a desperate plea to keep the faith.

Then its back to more insults and posturing, talking up what a big man you are because youre watching your imaginary disappear before your eyes.

Mate, it's over. Everyone knows its over. Just exit in an orderly fashion.

whoever gets put first will have the most to show for it.

But do you have that? Can you transfer bitcoin from Person A to person B without going through an exchange? And how long does the transaction take to verify?

Governments will definitely go cashless. That way they have 100% surveillance on every little thing you do. RIP your privacy

Governments don't need BTC. It's the 99.9% of the rest of the population that benefits. If BTC became even more adopted, the government would have to work for the people. Right now we're all working for the government/banks

>Can you transfer bitcoin from Person A to person B without going through an exchange?
Yes. It's called having your own bitcoin wallet you fucking newfag

That's the exact type of thing that happened after MtGox retard. I'm in it for the technology and you aren't. Get fucked newfag.

I understand the idea of having a wallet. But I was under the impression that if I wanted to transfer to another person, you still have to go through some sort of exchange or third party to process and verify the transaction.

> follow-up to the idea of needing a third party

yeah its validated on the blockchain, and then the receiver gets it

>third party to process and verify the transaction
I guess that's a way to interpret the blockchain…

Hey user, obviously you're new to this technology and that's okay, everyone starts somewhere, ignore the user calling you a newfag lol

The entire point of crypto is that you don't have to rely on third parties because it's "decentralized". There are no third parties you have to rely on, that's why this is so powerful. Please watch this lecture

youtube.com/watch?v=biXORNe4dhM

Right now we somewhat dependant upon exchanges for buying crypto, but that's because this is just the beginning. As it becomes more heavily implemented into society then presumably people will even get paid in crypto and just use it entirely, bypassing fiat and banks. I will do this as soon as I can. I would LOVE to be paid in crypto.

Which takes us full circle again. So if using a bank-based electronic currency requires a third party, and bitcoin requires a third party, there is no advantage (as far as that goes) for using bitcoin.

No, it's not, because it's decentralized and shouldn't be viewed as a third party authority but rather a decentralized computational hive which no individual member controls, but the protocol and consensus rules themselves, hand in hand with PoW requirements, control. This removes authority from humans and gives it to mathematics, which is what we want.

No third parties are required, I can send you BTC right now with no permission required from anyone, and no third parties, and I don't even need to know who you are.

The discussion of third party was related to this: My point being... unless you and I can stand next to each other and transfer funds from one to the other, the transaction requires an outside mechanism (third party), so there is no real advantage to using the blockchain over using a bank as the third party, at least in terms of the efficiency of process

Now you've added the word "authority" which is an entirely different topic.

Oh yeah if you're fine with the banks running the world and making all the cash thats cool (obviously you work in the banking industry)

If you want a trustless financial system, where you can't print currency, which no one can control, which anyone can participate in, then BTC is the one for you

Keep repeating it all you want - you're wrong. Tell me your BTC address anonymously over the internet. I can then send you BTC and you can confirm without the help of a third party whether you've received it, by running your own full node. It's a hassle right now but it can be done.

Which is not the impression I was getting earlier in the thread.

I'm not talking about whether people should trust the banks, or even want to trust the banks.

It was a very narrow point about the actual process of making a transaction:

option 1: pay for a loaf of bread using a credit card which is processed by the credit card company

Option 2: paying for a loaf of bread with bitcoin, which is processed by whoever processes transactions for bitcoin.

Under these conditions, there is no time or process advantage to one or the other.

In other words, neither are like me walking up to you and handing you an envelope of money, which can be done independent of any outside processing.

That's what I meant.

*price pumps* EVERYONE GET IN BUY BUY BUY

*price drops* omg it is dead ur stoopid if u buy

>Veeky Forums in a nutshell

Well businesses have to pay 3% on every credit transaction

Thats why businesses are starting to offer 3% discount for paying with crypto

And I'm sure the customers will love the discounts too

That's why I said "a way." It's not really a good or proper interpretation.

>Now it's time for intelligent crypto investment in good projects instead of shitcoins
That better be the case, I've been JUSTed by literal who coins pulling 2x's per day way too many times

If they can do it for a lower fee, that is a plus.

Side question: which of the better exchanges charge the least commission? I spent some time checking them out earlier, and they all seemed to charge insane amounts either for transactions or for putting dollars in or taking them out.

If you're in Australia, they're free btcmarkets.net/fees

Oh here's another newfag/ normie with the "crypto is over" thread. U just show all of us experienced traders how much u know nothing kek.

You are wrong because the third party banking system has discretion and deciding power over your transaction, and the third party decentralized Bitcoin mining swarm does not.

Not if you're handing someone a bag of cash.

Use your head. Its NOT just that prices are back to where they were months ago. Its the added factors of various countries banning crypto, u.s. on the verge of regulating, stock market getting involved, tons of money leaving the market , the impending tether scam, etc. there is a ton of bad news on the horizon which makes this much different than years past

You just said they're getting rid of cash

Even then - the central banks control what that bag of cash is worth and can make it worthless in a matter of days, like what happened in Venezuela and Zimbabwe

Actually there are massive advantages to having crypto vs digital fiat. Manipulation is one great example, literally only the banks and government would argue that them being able to do whatever they want with the money supply is a feature, not a bug.

you are a pussy ass little bitch

Bumps on the road. Unless the US declares crypto holders to be terrorist and starts drone striking them, it's not going away and it will get several digits of the worlds GDP involved with one or two decades.

thank you friend for the good post

You're not some mind reader OP. It's done for. Countries worldwide are banning cryptos because of their dangerous volatility and scamming potential. I sold all my coins at $19k just as the prices began to fall because I knew dipshits like you were gonna fuck it up.

Smart phones and internet are more accessible in those areas you mongrel.

You’ve probably never even left your state

>Countries worldwide are banning cryptos because of their dangerous volatility and scamming potential
You mean because of their potential to dismantle the nation state's hold on the economy through issuance of fiat currency? You're really naive if you think they're watching out for you

Lol u are an idiot

yo op thanks for the pic

>a handful of NEETS collectively holding a drop of piss in the ocean of bitcoins HODLing is going to make any difference.

I never said it's going to make a difference in what's coming, I'm simply giving you advice on how to ride the wave correctly

>not knowing that wallets exist

>5000 neetbux
>all muh "wealth" is in crypto!!!

You know nothing about how much I have user, I earn nearly $5,000 per pay period.