>thinks everyone will adopt Bitcoin in the future
Never going to happen.
Even if Bitcoin proved to be useful in the future (which it currently isn't), people who refuse to buy it today will refuse to buy it tomorrow. Out of spite and bitterness. They will feel left out and jealous of early adopters and will not just admit defeat and pay 1 million per BTC. This will never happen because of human nature.
I dare say we have already seen the mass adoption.
no one fell for your b8 thread huh? I'll give you a pity (you) and a sage
Bitcoin is gold, people will just use LTC as a currency.
Once LTC also become gold, they'll use something with a bigger supply, and so on until i'm so rich i can buy two or three star systems.
You hodlers are deluded as fuck. But I guess you have to be, since you took a second mortgage just to buy numbers on a screen.
>Bitcoin is gold, people will just use LTC as a currency.
>Once LTC also become gold, they'll use something with a bigger supply, and so on
Why wouldn't people use government-issued FIAT?
That's what people do today and there are no problems with it.
Crypto enthusiasts insist that FIAT is flawed, but to the average consumer it isn't. I buy all my groceries with euros and I've found it very convenient. I'd rather not mess around with my smart phone and wait for confirmations every time I buy a soda can.
there is a saying on wallst, "all individual investors get it wrong"
>Bitcoin is gold
I have thought a lot about that, and I am sorry to say, you are horribly wrong about that fact.
I think the problem with people like you who believe that Bitcoin is gold, is that you believe that Bitcoins (plural) have value.
They don't have value. Look at them instead as tokens for the Bitcoin network. The Bitcoin network has value.
I mean it's not a company like PayPal but in practice it functions just like PayPal. It creates value by acting middle man in transactions. If you buy Bitcoins, as a form of investment, you can view them as shares. If the demand for Bitcoin transactions increases in the future, so will the demand for your Bitcoin tokens.
Bitcoins are like tokens on an amusement park. You buy tokens and then you can ride the carousel. You buy Bitcoins and then you can buy drugs on DarkNet.
But it's important to understand that Bitcoins in themselves have no value. They are just tokens for the Bitcoin Network. What has value is the Bitcoin Network.
The Bitcoin Network can't be gold, more than say PayPal can act as gold. That's not to say that buying Bitcoin is a bad investment. But buying Bitcoins and then say "this is gold" is like buying PayPal shares and say "this is gold". It shows a fundamental misunderstanding on what gold is and what Bitcoin/Pay Pal or any other transaction service really is.
yawn another stupid bottom seller trying to FUD his way back in.
neck yourself pajeet
If you live in a non shit hole then yes FIAT isn't really a problem. As long as you don't hold FIAT over a long period of time there's really no problem because the inflation rate is very low. But if you live in a shithole (basically all non-white countries) then inflation is a really big problem. Because the nigger boss have found out that he can steal the peoples wealth by inflation. And all niggers are like that. If you give them a chance to steal from you then they will. So all pigment handicapped nations will like crypto, I'm pretty sure of it, because darkies can't trust their wog overlord not to steal from them.
Very good insight mate. But I don't think bitcoin is a good investment, past riding the speculation waves. The bitcoin network itself has very little value to the real world. It's simply obsolete tech. There is no reason why anyone would use Bitcoin over, say, Ethereum.
Am I the only one who is genuinely troubled to see that "yawn this is FUD" is literally the best argument for Bitcoin's defense?
That's the only thing you see on Veeky Forums.
People blindly worshipping digital numbers like a religion.
Every counter-argument is just flushed away with "yawn, FUD." or "pajeet."
Bitcoin won't even develop if you just accept it with all its flaws, idiot.
Enjoy hyperinflation faggot. Jewcoin (ie USD) is getting stomped soon.
Train is leaving the station. Get on board while you still can.
Irrelevant because BTC is currently one of the few entry ways into alt coins. And guess what? By the time the normies can buy alts directly, those who have BTC will have accumulated them and the prices will, similar to BTC, be much higher than they used to be.
Early adopters have an advantage, duh. Saying people will ignore x out of spite due to this is moronic. Boomers had a huge early advantage with real estate, does this mean you'll never buy a home out of spite?
Bitcoin is shit no matter how you look at it, but investors are so emotionally attached to it that not even facts matter anymore.
It's all about "muh gainz, muh gainz.."
Ever heard of Onecoin? A famous pyramid scheme in the form of a cryptocurrency. It has millions of members worldwide and they all claim Onecoin is the answer to all their problems.
Agreed. Unfortunately we can't have Bitcoin die without bringing down the entire market with it, not before the alts are paired with fiat (if that ever happens). The entire market is built on top of a rotten foundation.
>Boomers had a huge early advantage with real estate, does this mean you'll never buy a home out of spite?
Stupidest example you could come up with.
Your average normie will never need to use dapps daily. We'll never live in the cyberpunk fantasy where you make IOTA micropayments for opening your fridge and pay musicoins when you listen to music etc.
The blockchain is obsolete tech.
>Why wouldn't people use government-issued FIAT?
Because I don't want to depend on banks to start a business and inflation forces me to either spend my money or risk it away?
If you can't even grasp this then why the fuck are you giving away your opinion about anything?
Be honest, how many aspects of your life you find yourself being the smartest guy in the room? Not many I bet.
Why would it be different here?
>Because I don't want to depend on banks to start a business and inflation forces me to either spend my money or risk it away?
But you'd depend on garbage like Coinbase and other commercial markets, and take your chances with insane volatility?
Just having a steady income and building up your USD funds is more secure than having BTC. USD didn't drop -60% in a day last week, for example.
>Be honest, how many aspects of your life you find yourself being the smartest guy in the room? Not many I bet.
Dunno mate, I'm a humble guy so I don't claim to be a genius, but I praise myself on the ability to look at concepts objectively.
I have BTC but it hasn't made me all patriotic towards it, nor do I have any need to put down people who criticize it.
I know exactly how people like you think. You think you've grasped how great bitcoin is and you evaluate people's IQ depending on whether they are bitcoin believers or not. That's stupid.
fag stop educating people and enjoy the shitshow while it lasts, you already have front row seats just watch and take in the despair
I know what you mean, the 60% drop was entertaining as fuck, even though I lost money in it too.
I've invested a small amount that I don't give a shit about so I can just enjoy the ride. Most religious BTC nutters have invested most of their possessions in this, even though they claim they didn't invest too much.
Nigger if it confers an economic advantage they'll have to use them, that's how capitalism works
You valuemax or you eat shit
Banks existed long before FIAT currency. If you look at the biggest banks today most of them dates back from the time when we had gold standards.
Yeah BTC is shit, but cryptocurrency isn't. You're an idiot and I don't really care what you think because of it, but just out of curiosity, are you a boomer? I'm trying to understand what it is about people infected with this mentality that are unable to accept technological innovations even when they're eating the world directly in front of them, it's baffling to me.
This. Crypto is cheaper and more secure = incentive to use it. Capitalism 101.
this
You're kidding yourself if you think race fixes it. It's the nature of centrally controlled monetary supply and political authority.
Which is exactly what cryptocurrencies remove, and which is thus exactly why they are so valuable, they allow us to finally overthrow the political and financial parasite class once and for all.
>You're an idiot and I don't really care what you think because of it, but just out of curiosity, are you a boomer?
You think I'll argue with someone who uses nothing but ad hominem? If you even know what that means.
>This. Crypto is cheaper and more secure = incentive to use it. Capitalism 101.
If crypto was cheaper and more secure, you mean? Not long ago I paid 30 euros for a BTC transfer.
If that was the case why do we have government issued money (fiat) in the first place?
This is legitimately funny, you think "You're kidding yourself" is an ad hominem? In this forum? Where double turbo nigger space jew gas yourself is used as a stand in for "hi there"? How fragile are you? I actually had no intent to insult you in any way, merely to draw attention to a clear error in your line of thinking.
...
>they allow us to finally overthrow the political and financial parasite class once and for all
Honestly I'd rather pay my bank double than use Coinbase.
Crypto crooks are ten times greedier than any bankster or government figure.
I'm not American so I kinda find it funny how USD is the standard measure of FIAT.
Geeze iv literally been waiting for posts like this, great contrarian market indicators /bi/z from shills.
>I actually had no intent to insult you in any way, merely to draw attention to a clear error in your line of thinking.
Yeah and I was kinda implying I'd appreciate an explanation to why cryptocurrency will change the world.
Sure I know Basic Attention Token could fix online advertising, Siacoin could cut the costs of cloud storage and so on.. I hold all these coins from Aragon to Golem. Still don't believe in the tech. They're dreams, bro. You think Golem has a worldwide supercomputer? No, we're just paying them for the 1% chance they actually make it happen.
Thanks for your little political manifesto.
In reality what you are saying is "hey guys, my fiat is better than the governments fiat".
In reality: dollars have value because you need to operate in the US marketplace.
Bitcoin has value, because you need it to operate on DarkNet.
You seem not to understand the entire point of crypto, which is that you don't have to trust anyone, savvy? It's all about computers and mathematics, none of the people involved have a lick of control, get two million BCH? You've got two million BCH and nobody can issue more of it to fuck with you, all your transactions are validated by a distributed network of miners around the world, and nobody even necessarily knows who you are. There is no role for regulation, and no place for central management of the money supply.
That is the entire point.
I can't figure out if you're just some random boomer fly-in or a temporary /pol intruder, you seem a little too 1488 for the first and a little too fragile for the second.
Because it confers an advantage by providing much more flexibility than bartering. It also has more advantages over gold and other precious metals (divisibility, transportation, storage etc)
I don't need to operate in the US marketplace, I'm not from the US, don't really go there, and every dealing I have with anyone from there I transact in crypto.
The difference between fiat and crypto is that crypto issuance is not centrally controlled by a politically manipulable pack of humans. By no stretch of the imagination therefore is it valid to refer to crypto as "fiat".
That’s because a lot of people on Veeky Forums have spent four years arguing against the same arguments over and over and every time bitcoin reaches a new milestone you guys move the goalposts.
Because it disempowers political institutions and central banks. It removes any control or influence they have over the financial system and relegates them to at best minor roles rather than the controlling ones they have enjoyed the past hundred or so years.
Or to put it as simply as possible, see the chart over in ? that will never happen in crypto.
>all your transactions are validated by a distributed network of miners around the world, and nobody even necessarily knows who you are. There is no role for regulation, and no place for central management of the money supply
I've held BTC since 2013 so yeah, I know how it works.
My point is that the public won't care about this in the long run. If USD is easier to use, they will use it.
Think of it this way: the idealistic and optimized Linux is technically a million times superior to the disgusting corporate Windows, but guess which one we're all using?
>every time bitcoin reaches a new milestone you guys move the goalposts.
No it's the opposite. Every time Bitcoin fails, you just move the goalposts.
5 years ago this was supposed to be the coin you use for buying groceries. No? Then you just move on to saying it's "digital gold" and you wouldn't buy food with gold, right?
I've never bought anything with BTC in my life.
True, but Bitcoins get lost forever with broken computers and forgotten passwords. Eventually we'll reach a point where only 1 satoshi is left in the markets.
This will never happen with FIAT because banksters will just print more. I kinda want to see something in between BTC and FIAT, I think both have way too many flaws.
>USD didn't drop -60% in a day last week
USD didn't go up 10000% the last year either.
Linux. You might be using windows on your PC, but the majority of the infrastructure between us on this communication is probably running Linux, including the server on which this discussion is taking place, and even the infrastructure we're discussing. Why? Because it's easier to use that, some startup comes along and builds a tard friendly product around it and undercuts a competitor who'd try to do the same thing on the microsoft stack at a higher price and they win the market share.
The same will apply with crypto, and undercutting the entirety of the central banking system saddled with all of the sovereign debt in the world is the easiest layup in economic history. It is a game you can't possibly lose, they are so loaded down and slow and inefficient and generally useless they're completely doomed. Maybe the more agile ones will use their brand to make clueless normies feel warm and fuzzy when they're connecting to the nuclear power station that is crypto in the background, they're already kind of trying to do that by hijacking and sabotaging the original Bitcoin and re-architecting it to rely on hubs where they can re-insert themselves, but the time where we have the slave driven grinding mill that is the current financial system in the background actually calling the shots is drawing to a close, and the massive wealth transfer you're witnessing as those intelligent enough to realise that stampede for the exits is exactly what's going on there.
All the while boomers and associated clueless normies look up from their latest netflix or fifty shades schlock every few months and silently mouth "huh what, where'd my 401k go".
Security will get better because it has to, it already has, if you express the amount of crypto lost to theft and hacking as a portion of the outstanding monetary base, that portion drops every year as people actually finally take security seriously, realising that if they don't, they literally will lose all their shit and there is nothing they can do about it and no FDIC or police to cry to.
>if that ever happens
Doesn't XRB already have fiat pairs? Doesn't a bunch of crypto already offer fiat on-ramps (litecoin, dashcoin, etc?)
Just sayin
This is comedical. I guess you're saying that you can't use a debit or credit card if you use gold standard? Everyone would have to carry around their gold? That's funny. There's no storage, transportation or divisibility problem.
The problem with government issued fiat is that it depreciates with about 2-3 percent a year (if you are lucky and live in a rich country).
Fiat isn't around because it's more competitive, it's around because government can tax everyone with 2-3 percent a year with inflation.
...
1 btc = 1 btc
it didn't go up 10000%
I think you misunderstand the true nature of Bitcoin and other cryptocurrencies. Read my post again and simply accept this fact: crypto has value (true value) because it is the only accepted means of exchange on DarkNet. It's the same mechanism that gives the two value.
The share of the crypto market trade that encompasses DNM's would not add up to a single percentage point of the mainstream daily exchange trade in the markets. Sorry dude, you're just wrong.
>Fiat isn't around because it's more competitive, it's around because government can tax everyone with 2-3 percent a year with inflation.
In Finland all your crypto profits are subject to an income tax of 34%.
So are Jamal's earnings from dealing, which is all done off radar not touching banks and in cash.
You think he pays taxes?
wow! this man looks like he knows what he's talking about... or is he
Arizona just passed a law allowing tax bills to be paid in bitcoin.
zerohedge.com
Wait until uncle Sam figures out that by the time they convert to fiat it's less than what you owe
>by Tyler Durden
>2 shares
>"just passed a law"
>If the bill is adopted, Arizona would become the first state
Disregarding all of this, how would it actually work?
I send 100 dogecoins to the government, and what if their value drops during the transaction? Do I need to send more or is it not my fault?
how anyone can not see that this is a technology that isnt going away is beyond me
>TFW the numbers on the screen has resulted me to be early retired at 30?????
KEK STAY POOR user
We can't all be in lambos some of us need to do 9-5
>implying everyone wins with cryptos
Every gain is someone else's loss.
>Because it confers an advantage by providing much more flexibility than bartering.
Myth: Barther -> Gold -> Fiat.
Nerds never learn history, that's why nerd keep runing things for everyone.
I meant ruining not "runing".
BTC has fixed supply of coins, but its price is based on infinite supply of stupidity.