Bitcoin is a fucking joke, and this is coming from a maths student

these are not counter-arguments my dudes
at least try to refute his points

Back in 2010 you said Bitcoin was shit.

The only difference is, back then you were right. The current "gainz" have blinded you with greed. I have enough money without BTC so I see things clearly.

>people try to make it sound confusing on purpose so you would buy the miraculous future tech.
Great technology usually starts off with something simple. The wheel was nothing special but it ultimately evolved to self-driving cars.

>you could literally have a paper blockchain that you run manually with your friends
Good luck doing SHA256 computations or other forms of consensus with your friends. Unless you don't want to have it decentralized and trustless, in which case it's not a viable blockchain and it defeats your argument.

You don't seem to understand the value behind a trustless currency. It's not about the technology itself as much as it is abound the implications; the reliability of a currency and how it defeats the purpose of centralized banks.

Decentralized means the supply is not controlled by a central bank.

>hurr durr bitcoin is just like a physical logbook you & your friends hold
>maths student

more like faggot student

Who are the Rothschilds of Bitcoin?

>You don't seem to understand the value behind a trustless currency.

I understand the ideals behind it, but they won't matter in the long run. Usability is the only thing that matters. You think your average Joe gives a shit about SHA256 protected money? (which is an obsolete encrypting method by the way)
Most people don't even give a shit that they're feeding banksters. No matter how much it pains you, we just don't give a shit.

When he goes to the store he uses the currency that is
- accepted at the store
- easy and fast to use
- worth today the same it was yesterday

>implying maths students aren't always the most retarded on campus.

It's a disability, not a gift. Actually intelligent students are able to apply maths in socially functioning fields like physics or engineering. You're basically doing religious studies with Arabic digits.

You're telling me this after I invested my life savings and took out another mortgage?
Fucking hate you biz

>Sha256 is obsolete

Then why are you posting on Veeky Forums instead of hacking wallets and becoming a billionaire? Your LARP sucks.

>before it pops
Great! You got a time machine?

Also, cash is anonymous while bitcoin inherently isn't. If you buy something with bitcoin, it becomes indelibly recorded into the blockchain that you bought some furry porn back in '15

>You're basically doing religious studies with Arabic digits.
Kek.

you sure are a dumb fucking retard for having a math degree

maybe try taking a course in economics next and you can cure your fucking disease brainlet

He doesn't have a math degree.

BTC doesnt have fractional reserve banking, central banks more sercretive about their spending than fucking intelligence agencies, or a government printing press you idiot

>BTC doesnt have fractional reserve banking

Pick up.

Wow man. You know when the wheel was invented, it was that day's "today's tech" since round rolly things existed for billions of years. Same for fire. Nakamoto solved the Byzantine General's problem. That's the innovation so look it up. For a site full of supposedly high IQ neets, this place really stinks for any type of legitimate insight.

>it's not fair because I didn't buy in early.
You don't know what fair means you communist fuck.

>blockstream
Your only legitimate complaint so far. Yes blockstream is garbage, BCH is the real bitcoin that has 5 different development teams and anyone can contribute.

>and this is coming from a maths student
Bahahaha!

>Usability is the only thing that matters
>I understand the ideals behind it
no you don't.
Bitcoin is not about fast and cheap transactions. There's literally nothing wrong with visa and PayPal in this regard.
>You think your average Joe gives a shit about SHA256 protected money?
you obviously haven't stepped outside of US and/or didn't live through a hyperinflation. Everyone who did - will take decentralized money over fiat any day.
>No matter how much it pains you, we just don't give a shit.
bless your heart
>worth today the same it was yesterday
so not fiat?

>You think your average Joe gives a shit about SHA256 protected money?
Joe cares about his money being safe. It isn't with banks, nor with governments. Trust in Fiat and government is at an all time low, and it's not ever going to ramp up again until the NatSoc transition occurs.

>Usability is the only thing that matters.
That's why there's a plethora of coins improving on Bitcoin's shortcomings. XRB is a great example of a "Fiat killer" in terms of speed and fees. Once the ease of use difficulty barrier gets sufficiently thinned -- which it will as there's too much money and minds behind this, mass adoption will occur. It's bound to happen the way things are going now.

>Most people don't even give a shit that they're feeding banksters.
People care about putting their money in a place they trust. The "putting money under the bed" meme rings true. No single fucker trusts banks nowadays anymore, neither do normies. It's just that they lack an alternative. That's where crypto comes in. It just boils down to adoption at this point. Hundreds of companies are attempting to streamline this and millions upon millions are spend upon making that happen. You'd have to be retarded to think this is not going to achieve adoption, there's too much momentum and the advantages are undeniable. The perfect storm is coming up.

That's not akin to central banking, that's akin to someone printing dollars in his basement and all the retards in the neighbourhood accepting these printed dollars even though they are obvious fakes

...

Just kill yourself you fucking retard. As soon as you were faced with a proper argument you go like "dude who cares lmao nobody cares normies dont care"

just fuck off to plebbit you fucking insufferable ultranigger

>Nakamoto solved the Byzantine General's problem. That's the innovation so look it up.

So why is it that nobody accepts Bitcoin as payment?
In your head the reason must be that everyone in the world is stupid. But in truth it could be just because Bitcoin is shit.

You guys are emotionally invested in BTC so your opinions are biased as fuck.
It boggles my mind how blind you can be to your own bias.
Sure you see the good sides of BTC but you completely ignore all its problems which will eventually destroy it. You're literally saying BTC as it is now is perfect, which kills the development you long for. If you love BTC, you have to admit it's crap.

The world will never accept a currency that was distributed simply by the process of who was stupid enough to buy first.

The day you all await, when normies accept they have to pay 1 million per BTC will never, ever come. They would be too jealous and bitter, to begin with.

Fuck off Shariablue.

You didn't understand my argument, that doesn't make it shit.

I'm saying being "trustless" and "decentralized" is the least valuable quality of a currency.
Sad but true.
Linux is more decentralized than Windows but we all run Windows because it's better in DAILY LIFE. Bitcoin is exactly like Linux. All ideals and "epic tech", but normies don't want it.

>being this new (and retarded)
People will pick a currency with value over a inflating currency any day. Look at Venezuela. Their currency is worth nothing and it's dropping like stone. Even USD is, just check inflation statistics. If bitcoin reaches 1MM per coin, it's only proving to be a very reliable currency that actually generates interest merely by holding it. And you think people would not be interested? Are you actually this dense?

>So why is it that nobody accepts Bitcoin as payment?
I care about that as much as I care how many people use Linux on the desktop despite the fact that I both do the former and the latter. Enough other people care about it that it's viable. Simple as that. Matter of fact, I'd be just happy if Bitcoin never grew anymore than it is now both in fungibility or mindshare. It's viable for my purposes and that's all I care about. Again, just like Linux on my desktop.
>You guys are emotionally invested in BTC so your opinions are biased as fuck.
I am emotionally invested in BTC to the extent that it serves my purposes. So far it does. I'd say that describes 80% of biz. This isn't r/cryptocurrency where people drink some koolaid and shave their head. Crypto is an asset class with extreme volatility and growth. When that stops, we all move on. How you antis don't understand that, I don't know.
>Sure you see the good sides of BTC but you completely ignore all its problems which will eventually destroy it.
Again, I'll lean on my Linux example. The OS that perpetually has 1% of the desktop. Yet it thrives. People came up with all kind of reasons why it would die. Patents, lack of cohesiveness, difficulty for newbs. Yet millions of people keep on using it and love it. Same for btc.

yes, bitcoin is trash, but not every cryptocoin.

inredible analysis, math student! can't wait for more of your insight on crypto!

Lead distributed systems engineer here. Math student is right

lmao this is all about you being a salty nocoiner isnt it

No, you run Windows because you're a gullible retard. Stop projecting your own failures onto the rest of us.

Your argument is just an appeal to the masses - "muh normies don't care." Normies didn't care about the Internet or social media etc either - they don't know what they want. So we'll make it happen, get rich in the process and normies will follow when TV tells them to like the little bitches they are.

You're absolutely retarded. Dunning-kruger. How the fuck do you figure linux is "decentralized"? What do you even mean by that? It's an operating system, it's not a network, it's not a public ledger. You're a dopey retard.

>maths student
>2018
>student
so you were what, 9 or 12 when bitcoin released, 7 or 10 when the subprime bubble popped
you weren't born during the web boom
you never paid significant taxes
thanks for your input, now go play with your pokémons

Cryptos are a major bubble. Biggest in human history. Ppl are gonna lose a lot of money

>"trustless" is the least valuable quality of a currency.
brainlet incorporated.
Why do we have security measures on cash then if no one cares about it being trustless?

This is the dumbest post ive ever glanced over and i take satisfaction in knowing you're not going to make it

The blocksize is controlled by a central authority.

Fiat is a fucking joke this coming from a plebbit.

>some big nose guys writes some serial numbers on papers

>you could literally write your own paper with your friends

>people try to make it sound confusing with debt and interest rate miraculous talk.

>the only reason it has value is because jewish trickery

>people started using it because the issuer sounds governmently thus it magically had value

>=it's a bubble

Fuck off.

>the only reason it has value is because jewish trickery
You must be looking for reddit. Veeky Forums does not tolerate anti-Semitism.

Sorry about that my good man. I'll go play with my lebbit anti-semite friends.

s

p

a

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no it's not. Everyone is free to use any client implementation they want. If majority of miners and users will decide to increase the block - it will be increased.

>(which is an obsolete encrypting method by the way)

Uh, no? Not even SHA-224 is anywhere near broken yet. SHA-1 just got broken by Google last year and it's *still* secure to use in many cases (e.g. git).

SHA-2 is still very secure.

...

kek

In all fairness, housing is also a fucking joke. Someone decided to gather a bunch of free dirt and put a million dollar price tag on it,

The Sumerians invented single entry accounting.
The Venetians invented double entry accounting
Satoshi Nakamoto invented triple entry accounting.

If you are to retarded to understand the societal impacts this then just stay out of crypto.

Do you have any knowledge about how difficult decentralized consensus is or are you trolling ? 1st year student I suppose. You 1st year are so arrogant

OP is right goys and it worked even better than expected... (((we))) literally found a way to tax your imaginations. enjoy cashing out larpers

paper money is a fucking joke, and this is coming from an origami enthusiast

...

Fractional banking can work on BTC. If btc becomes mainstream, people will deposit their btc in btc banks, which are going to lend a fraction of it etc

>people claiming BTC is absolutely flawless and perfect, even godlike

Why do I even fucking bother?

But don't buddy, just leave, keep living your nihilist life, because you know, "normies dont care anyway hurr durr life is meaningless wabudadubdub"

I used to be a religious BTC nutter like you, so I'm not some nocoiner fudder you want me to be.
I actually tried to recruit all my friends, too.
One of them said he will start using BTC as a currency the day when you don't have to check coinmarketcap 20 times a day to know what your money is worth.
Back then I disregarded arguments like these because I wanted to believe I was a pioneer ready to receive free millions, but now it makes sense. I don't have to check what my eur is worth, even though that changes as well, but it's so minor and predictable. With Bitcoin I could hardly sleep when I knew in the morning I might have missed my chance to buy or sell.

Yeah you can run a paper blockchain but you can also do maths on paper. When the real work gets done you use a computer dipshit

i hope this is bait

All of the financial system works, literally nothing changes except you are exposed to the wins and losses of the rest of the world, and a handful of early adapters who have limited idea about fucking anything and hodl more of the worlds cash supply

Why not make a new wallet and transfer all your funds to it or make multiple wallets?

Well, cool then I guess. You don't like crypto then don't buy any. In the meantime, the rest of us will get rich and you will stay poor or at least will end significantly less financially successful than you otherwise would have been. All signs are pointing to the crypto space exploding in the next few years. A member of the US gov recently said he thinks crypto will be worth 20 trillion in 2 years. You have thought about this so hard, you are now basically playing yourself. Congratulations.

Nigger it already exploded, you were the normie, we thank you for your custom

Honestly there's a good chance 20k was BTC's limit.
Buying now would mean I have a chance to make 30% tops, and it would make you even richer because you bought BTC 5 years ago.
Calling it a ponzi is not far off, because the system needs new members that you convince to buy late.

>In the meantime, the rest of us will get rich

At least stick to defending the tech and the idea of BTC.
Saying it's good because "you'll get free money, I promise" is shit tier. Promises of free money are a sure sign of a scam.

I'm not a religious BTC nutter, only those who don't understand BTC are. The only difference is that I have a master in comp science and I know what I'm talking about. BTC sucks huge dick, but that is only on an economical point of view. I'm only interested in the technology, and the fact that what has been brought by bitcoin will allow us to make a true and better currency in the future. But you see, you don't understand shit, you can't take the good out of it, your brain is so simple, something has to be either good or bad. So you shit on bitcoin, and you miss out on opportunities to build something greater by getting inspired by this new tech. Basic normie brain.

>A member of the US gov recently said he thinks crypto will be worth 20 trillion in 2 years.

>he thinks

Being in the government means he can predict the future?
More like vice-versa.
Yeah there's also this guy who will eat his own dick this summer.

Yes

I got in at $500 so while I'm not an OG like Ver, I didn't just start last week. Furthermore, I made more trading the volatility between Jan. and Feb. of this year in a significant downturn than I've ever made doing anything else in my life so if the prices stagnate or keep falling forever, I'll just accumulate more and more btc and fiat value. So thank you for your "custom", Normie McNormiefuck.
>Honestly there's a good chance 20k was BTC's limit. Buying now would mean I have a chance to make 30% tops.
Being that specific means you don't have a clue what you are talking about.
>>In the meantime, the rest of us will get rich
>At least stick to defending the tech and the idea of BTC.
Um, news flash user. One can do both. There are even tertiary perspectives and even more beyond that. Get out of the black and white and look at the space as a whole. Your lack of vision is why your opinion is worthless and you will be left behind along with the other guy above.
>Being in the government means he can predict the future?
No man. It means at least part of the very powerful US government isn't virulently hostile to crypto which in this day and age is a very encouraging sign. The number he mentioned is irrelevant, it is the mere fact he said $PRICE significantly larger than $PRICE right now. Again, you people lack vision, comprehension, common sense, etc. It's good you don't like BTC as you would have lost your money eventually anyway.

Read the thread. I've specifically said that Bitcoin is shit, because it is.
You're kinda agreeing but move on to saying that a new coin could be better. I'm not saying the opposite.

>you don't understand shit
>your brain is so simple
>Basic normie brain

And you guys accuse me of Dunning-Kruger? They only thing I'm doing is being objective and non-emotional about it.
What kind of fucking idiot wouldn't question something like a proposed new currency? It NEEDS to be probed, questioned and literally fucked in the ass so we can be sure it doesn't fail us.

>It means at least part of the very powerful US government isn't virulently hostile to crypto

you cant predict the future, us gov might become hostile against crypto, gov dont like losing control of the money supply. also the fact that they are going to regulate icos and this means most altcoins is not a good sign. because most of these wont be able to comply

>has millions in crypto

>defends crypto with the sole argument that opposition lacks vision / is too stupid

What a surprise. How does it feel to be so goddamn smart you can literally see the future?
Didn't see the drop from 20k to 6k though did you. In hindsight you say "yeah corrections happen", but back then you were rooting "straight to 100k!"

>guy solves decade old double spending problem in decentralised systems for the first time in history
>retard can't even grasp the basics of cryptography and tries to write it off

this is too complicated for brainlets

Dude, no one on this board other than a small faction of deluded core-cucks denies that BTC is is an outdated with overinflated value. Everyone with half a brain in this forum has mostly moved out of BTC and into ETH, NEO, and quality alts. The people left holding BTC do so short- to mid-term to capitalize on stupid normies pumping it again out of sheer FOMO, a cycle that will probably be repeated a couple of more times over the next 1-2 years until all the prophets and their disciples have been satisfied and can finally accept the inevitable fate of grampa buttcorn finally shitting the bed.

If you genuinely don't see the value in BLOCKCHAIN technology (as distinct from BTC), you're beyond saving...

>Dude, no one on this board other than a small faction of deluded core-cucks denies that BTC is is an outdated with overinflated value

You're literally the first person in this thread to make that distinction.

The sad truth is, most people here do indeed support BTC.
Why? Because they bought it with loan money and they're fucked.

This is the worst thread on Veeky Forums this week. Anyone who bumped this thread pls leave and never come back
Spoiler:
>sage

The world has already proven for millennia that it's stupid enough to accept the "GAWD-given" power of whoever picked up that pointy stick thingy first and hit some other dude in the head with it.

truth is that not even people who believe in btc want to hold it forever, they want to sell it at 100k or whenever they thunk the bubble pops.
this means they actually want fiat and they are trying to make fiat by flipping btc.
if they really thought btc could change the world they would hold it forever

You said it yourself, you're a maths student, you're one of the people in your field who least know about business

>Bitcoin is a fucking joke, and this is coming from an autistic future cuckold pajeet.

If the world was run, and populated by, nothing but computer scientist, we'd probably adopt cryptos.

There are ideas from thousands of years ago, that are sheer wisdom, yet we still continue to disregard them. I see crypto as something similar.

>you cant predict the future, us gov might become hostile against crypto
You're reaching. If you want to stay out of crypto because of something you think might happen at some point in the future that you cannot possibly predict nor can you predict the result then go ahead man. I'm not going to argue with your feelings. My feelings are that crypto will continue to grow for at least the next few years and will slowly infiltrate the normie-sphere. I don't see signs of a flippening yet but if I do, I will adjust my portfolio accordingly. What I don't see is crypto just dying out due to lack of interest or for it to be outright banned. Barring those two scenarios, while it may change, it isn't going anywhere.
>defends crypto with the sole argument that opposition lacks vision / is too stupid
No, I said my opponents lack vision because they were presenting dichotomies where none exist. That pretty much exemplifies a lack of vision. There are many directions this thing can go. Flippenings may happen. The tech is very interesting, there is also a great financial opportunity to be had. Take it all into account and act accordingly. I'm bullish about the space. The monthly/yearly machinations I'll take as they come. But just dismissing any of this out of hand including BItcoin itself despite its flaws is folly.

>It means at least part of the very powerful US government isn't virulently hostile to crypto which in this day and age is a very encouraging sign
Somehow, American exchanges like CoinBase have been working for YEARS without issues, but now you're making a big deal out of the fact that the government didn't suddenly ban crypto

Going to take this bait.

The average person cant reliably launder their money in crypto like most people think. The best way would be through monero.

If you had multiple wallets for btc, its not hard to see that you sent from your main wallet to some other wallet then from that second wallet to its final destination.

You don't know much about money history right ?

>Somehow, American exchanges like CoinBase have been working for YEARS without issues, but now you're making a big deal out of the fact that the government didn't suddenly ban crypto
I hate to even bump the thread by responding but you literally quoted me and then go on to react to something I didn't even say. Where did I go on about the government not suddenly "banning crypto"? If you want a response, argue what I actually said instead.

BTC has its problems, but it was a darn good idea at the time.. It liberated NEETs from wagecuckery

Anything can a bubble.. For a Maths student, you seem to have no understanding of Supply and Demand

>come to Veeky Forums because you've heard that it's a place where your posts will be judged by their content and not user identity
>everyone ignores your post because you used the wrong shibboleths