This was the last bull trap. Compare this to the NASDAQ chart. It's a perfect chart. (Will post the charts as first two comments)
Although you idiots won't respond with any counterarguments as usual and will call me a nocoiner (talking to the bulls, not the lovely bears on here), I'll still explain why this is a ponzi first. This has no fundamental value. I believed in this shit and bought since 2013 but in a free unregulated market, this will always be volatile, hence removing the only use case it had: sending money without a middleman. It became obvious that people will always want to profit off this shit (back into fiat) hence making this useless. Noone will want to spend something in which the price will go up or down quickly. Volatility NEVER decreases in a free, unregulated market. Now, if it becomes regulated, then sure, but then it's just like any other asset, and is again, useless since it doesn't improve the status quo (since securities already exist). I've literally never seen proper counter arguments to these in the history of biz. I'm pretty sure everyone knows it's true, but just doesn't want to admit it due to their hopes of this ponzi continuing.
Now, back to the main point of this post.
Rule 1. In a ponzi scheme, you buy early, wait for the suckers to keep buying, and sell at the peak when everyone knows about it. It doesn't fucking matter if everyone hasn't bought it yet. What matters is HYPE since it's completely based on speculation. Hype is based on KNOWLEDGE, not actual participation. The reason why the bull run continued before was because people were just finding out about bitcoin at the beginning. Therefore, the hype is over, and just like anything that is based on hype, once it reaches its peak, it's over.
Gold has no inherent value. People will always need to convert gold to fiat if they want to spend it. You link two charts, but unless you bought above $10.000 or are in a hurry your NASDAQ chart is basically showing us to sit COMFY. You have reddit spacing. Ponzi wonzi - well yes - but so is most things. I mean, even a company is a form for a legal construct that only exist because we agree it does. BTC isn't different than that, and it's not really going to go away.
I do think there is an argument against currency coins. They don't solve anything that isn't already in place. Things like NANO not having fees is great, until you get your NANO stolen. If someone had made a run for it with your fiat, your bank could've restored your loss and gone after the criminals - and since people prefer security over freedom, they'll always chose fiat.
>Gold has no inherent value >Scraps of paper somehow does
You dumb? We were at 5.6k like 10 days ago, it's recovered so fast it's insane. Who cares if it dipped below 10k just now ROFL
I'm mentally saving this OP's stupidity in my head for the future.
OP isn't stupid, he just but at 14k and sold at 6.
So he's stupid.
>Gold has no inherent value >typed from a computer run on gold tracks
This is exactly why I didn't buy back in yet. II'm holding some in case I'm wrong, but I have a bunch of cash in reserve to buy cheap bitcoin. Nobody knows what's going to happen, but the bear market can in no way be considered over.
>prices correct after 3 days of continuous growth >"cash out now the market is literally collapsing" Kys faggot
The machines that run your precious bitcoin have gold in them.
So what you're saying is, if the price didn't dip in September we would have already returned to the mean? Tell me again why your retarded meme lines work
The only failure is continuing to call it "currency". Gold used to be currency, but people got wise and redefined it for what it was. The same will go for this shit. It's currency in name only. May as well buy and sell precious stones or oranges and call that currency too. It will have a different use in the future. If this is a ponzi then human life is a ponzi since there is no point for us to be here either than to make Jews rich.
No more than coper or silver. Yea it does not corode, but that does not justify its price.
we have these threads every single dip. go kill yourselves
Nothing has inherent value, only value that exists comes from human psyche which values things.
stop using words you don't understand idiot
gold does have inherent value, but it doesnt mean that it isnt a bubble. golds price shouldnt be anywhere where it is now.
he’s not wrong, though. this is now a philosophy thread.
>gold's value derives from its usefulness in industry and medicine >actually believing this
In a apocalyptic scenario, it still would value more than ponzi numbers in a PC.
See, you even need gold to run these ponzi numbers you so much dear.
the evidence is right in front of their faces but they insist on thinking the "dip" is over lol
>someone uses words a brainlet doesn't understand >he projects that nobody understands them