Reminder that Bitcoin is a bubble that is currently bursting

Reminder that Bitcoin is a bubble that is currently bursting.

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reminder that op is a fag.

reminder that user is a fag

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True delusion. This ship is sinking.

a bubble just bursts, there is no "currently" or "bursting"

a bubble simply pops. It either happens or doesn't.

OP have we popped or not?

holy kek that picture

kek

How can it be a bubble if no one knows what its potential is yet?

What would it take for someone to realize bitcoin is worthless?

i.e. In 2008, there was a housing bubble due to the MBS products which were composed of dogshit loans. There was a product that could objectively proven to be shit. With bitcoin that isn't the case.

What changed about bitcoin from december 2017 that all of a sudden made it worthless? Were fundamental flaws shown in the source code, are their byzantine failures we're not yet aware of?

WHAT THE FUCK IS THE REASON. As of writing this, there is no reason to believe its a bubble. It is merely another asset class.

Also fuck off to r/buttcoin OP

The fact that it is worthless. It's slow, expensive and inefficient to make a transaction.

Merchant adoption has fallen.

And yet it's price is above a grand..... The only reason people buy it is to sell it on for higher.

Bitcoin is a textbook bubble.

Bitcoin is objectively worse that making a transaction with a credit card. Slower, dearer, less secure, less userfriendly, less features (currency conversion, consumer protection).

Bitcoin It will burst, but it will take 5-10 years

not to mention it literally has the same use case as fucking venmo which has been a thing since like 2009...

except you can't launder money across borders with venmo, which is BTC's main use case--transferring money from dumbass American speculators to Koreans and Japanese people (hence why they dump every fucking night starting @ 4am when all the moron Americans have gone to sleep)

meh people dont understand that the cheaper option always wins doesnt matter how revolitionary a tech is if something is cheaper that is whats going to be used

It's also got absolutely abysmal privacy.

What's funny is that it's actually gotten worse as a currency.

When I used bitcoin, it was free to make a transaction, they got confirmed in 10 minutes and people tried to circulate them rather than hold them, because, you know, it was a fucking currency back then.

Now it can't even do that.

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i hate that background so much

>People will not use a more expensive thing over a less expensive thing
Wowsers user, good observation

Transactions are cheap now, nobody is using it anymore.

yeah why would people buy a bitcoin with 10k $ when you can have a dollar for 1 $

Just checked it's $0.8. That's insanely high. The fact that that's considered low is a reminder of how absurd this has become.

Compare this to traditional payment or transfer methods. It is undeinably better than ach or wire transfer for large amounts. Credit card processing takes ~1%. Bitcoin is trash and it's still better than the old shit.

In the UK we have faster payments which are free and instant. You also get fraud protection on a credit card, which is why the fees are so high.

The point is though that credit cards and bank transfers are old technology. They are the bare minimum a crypto should be weighed against.

In order for another payment system to overtake them, this payment system should absolutely eclipse the old one in every technological aspect.

Payments should be instant, feeless and fraud protected in some clever way and anonymous. The only system I know that manages this is GNU Taler: taler.net/en/index.html

Remember US banking is absolutely crap compared to the rest of the world.

Imaginary internet meme money are a bunch of 1s and 0s floating in cyber space with nothing to back it up lmaoo

Sepa transfers are free and take one day.