Is BTC Dying?

just from eyeballing the chart I don't see a meaningful connection between transaction count and price
we've been at comparable levels of transactions since jul 2012, you have to consider the effect size, there's a short term component that clearly shows they're related but overall 5.5 years ago bitcoin was 10 bucks with 25-50k transactions and went to 19k with only 10x the transactions.

grug move rock less mean rock worth less

people are afraid of moving their btc off exchanges because at any time the price can tank, translating to lower transactions

So?

>You cannot be a store of value without being a medium of exhcnage
knowing gold exists
toppest of fucking keks you brainlet

Bitcoin is better than ever. WIthdrew money from Cryptopia today and it was confirmed in the destination account within 2 minutes. Empty mempools = happy days.

bitcoin needs to die already desu

fucking all business everywhere in the history of mankind is a ponzi scheme, using your definition.
early investors make the most profit.
lmao fucking brainlet
keep posting your pseudo-intellectual shit. it's hilarious

gold makes jewlery you can wear.. There is a gold company I wont name for shilling reasons, but I 90% of the value of the jewlery is gold - so only 10% of the price is the cost of the necklace, etc.

Bitcoin can't do that

I absolutely accept gold coins. I wouldn't take your fucking bits in exchange for a shit I'm about to flush.

after people buy jewelry do they exchange it for other things or do they generally hold onto it, perhaps even pass it down to their kids?
next, you fucking idiot

some people do accept it though.
next

"All business everywhere" produce actual VALUE through:
1. either currently or in the future paying dividends to stock holders.
2. allowing the holder to assert control over the company & industry, proportional to the volume of stocks they own.

A pyramid scheme achieves neither of these things, the only way to make $ on a pyramid scheme is through suckering in new investors.

"Early investors make the most profit" is how every investment ever works.

If BTC has no inherent value (which it previously had as the previously leading candidate for the #1 world future currency) then it is a pyramid scheme.

2013 coiner here.

cashed out over $10 million this year

haven't used bitcoin for anything other than trading bitcoin and cashing out to fiat

Mempools are empty cause no one is actually using it, don't you get it?

eos does 2.

...

tell me how much a dollar really cost doe

>When coretards celebrate people not using bitcoin

every business is a pyramid scheme, fuck you're retarded.
>doesn't understand the value of an actual cryptographic immutable store of value ledger that can be accessed by anyone with an internet connection
i'm out, dude. you're obviously a shill, troll, newfag or actual brainlet and i have better shit to do than explain this to you.

Previous BTC was selling the product of low cost international online censorship resistant internet transactions.

New BTC is selling the product of "hope that lot's of new suckers want to buy in in the future, so your "stored value" doesn't deteriorate into nothingness. It's why BTC soon-to-be bagholders get so salty when anyone suggests that their coin is dying - because they have already given up on it ever being adopted as a real currency, they are just hoping to reel in more suckers before the whole thing pops.

If this were true, we wouldn't see the same decrease in the number of unique addresses.

i'm imagining an idiot that basically won the lottery market selling 10 million btc and leaving an indelible mark on trading history forever.

>THE ABSOLUTE STATE

a spot for a place in heaven embrace your loss.

actually I was just thinking, is the transaction count the total rate of outputs being sent or does it actually count them as sets?
if it was the former you could expect there to be a contracting/expanding pattern of distribution where inputs got smaller and smaller until some company like coinbase had a portfolio of outputs that are currently not worth using due to fees, then when the price goes up the situation changes until the price goes back down or the outputs get smaller.

>every business is a pyramid scheme, fuck you're retarded.
yep I'm the retard here, not the dude who thinks that literally every business ever is a pyramid scheme

The value of the dollar is created through the exertion of force by the state. National currencies are legally mandated by governments as valid for all debts in the country. Performing transactions in national currencies is a show of support for the state apparatus, it's institutions, military, bureaucracy etc. By using the national currency you are buying into the validity of this system & the legal protections that it affords you.

It also helps to think not about national currencies having inherent value, but non-national currencies having negative inherent value. The state is the ultimate authority, and will never consider allowing another private institution to usurp this position. Do you think any private company has a chance in hell of ever creating a currency that competes with the USD? The feds would come down on them like a ton of bricks, just like they are even now breathing down the necks of Tether for daring to call their token "USDT", US dollars tether.

>posts Tyrone
ironic

Problem is that as the price goes up, so does demand for block space. So the transaction fee gets higher. So companies like coinbase find themselves in trouble, when they hold many unspent outputs with values below the minimum transaction fee. During the recent tx fee spike coinbase was worrying that many of their coins would be unspendable forever.

Regardless, total transaction outputs are down at essentially the same rate as transactions, in spite of all the FUD about exchanges finally batching.

>The state is the ultimate authority, and will never consider allowing another private institution to usurp this position.
Federal Reserve. A bunch of Jews are more powerful than any State.

I get that I used it and it was fast AF.

BTC is dying CONFIRM!

>Linear rather than log
>Not considering the increasing amount of batched transactions
>Not understanding that the development direction is fewer onchain txns and more offchain txns that only settle onchain when necessary.

Bitcoin is a store of value. Stores never go broke. Just keep buying bitcoin and never spend it

>>Not considering the increasing amount of batched transactions
outputs.today/
No meaningful change in outputs:tx ratio post dec 17th crash. Transaction volume is down. Outputs are down.
Batching transactions has some effect, but it's overstated by BTC bagholders desperate for new suckers.

>Not understanding that the development direction is fewer onchain txns and more offchain txns that only settle onchain when necessary.
gl with your 18 months away, need to be always online with a full node, centralized proof of stake rip off

Only person who gets it

>>>Not considering the increasing amount of batched transactions

BTC adoption and value is only roughly correlated with number of txns per day. There are specifically developments that are going to increase this decoupling. And literally the first bitcoin adopter, Hal Finney, explains that in 2010.

>gl with your 18 months away, need to be always online with a full node, centralized proof of stake rip off

bcasher detected. Literally just meme arguments.

>not pumping yourself full of onion cocaine everytime you buy the dip

but what if the rock was always worthless

The problem is no coins are even close to decoupling themselves from this old piece of shit so as it dies it takes everything with it.

I think this is wrongheaded.
>hope that lot's of new suckers want to buy in in the future, so your "stored value" doesn't deteriorate into nothingness.
this is true if bitcoin has negative value. However, there are rewards which create inflation, and fees paid, but the total marketcap rises.

More to the point, when you're talking about a classic MLM or pyramid scam, the reason why it fails within months or years is because the people higher up are spending the temporary losses of the people below them. If the people at the bottom can't fill the ranks of people lower, then the scheme fails.
That doesn't really apply to bitcoin, because with price discovery you can't really demonstrate the this dynamic exists. The behavior of buyers and sellers doesn't line up at all with pyramid schemes.
For example, people who bought in early (should be at the top of your pyramid in your model) didn't receive constant dividends from the market price (like they should if the market activity fits your model) and experienced major volatility, so the vast majority of them cashed out, some even at a loss. Remember that while ago the price dived from 1000 to 200 dollars. Also recall that famous story of the guy that bought pizza with bitcoin in 2010 or whenever it was.

It's pretty easy to confirm what I'm saying if you have a dataset of wallets and prices. Look at the returns with the triangular number series being an index for the count of active wallets. You'll see a random distribution of consecutive negative and positive returns just like any other financial instrument.

btc merchant adoption is shrinking bch adoption is growing
there is not a single reason to cap blocks at 1mb (non mining nodes do nothing)
segwit destroys the mining nash equilibrium incentivising the collusion of miners to change the UTXO without owners signatures. m.youtube.com/watch?v=VoFb3mcxluY
You can only trust jihan and roger to not be doing this right now.
why introduce segwit before a blocksize increase when lightning network requires 133mb as specified in the lightning network whitepaper
why introduce segwit at all when it is not necessary for second layer solutions
lightning network will not be decentralized because to solve the routing problem is NP hard
why would anyone want lightning network when it is not a decentralised ledger? the whole point of bitcoin is to scale on chain as that is what makes decentralised uncensorable money which can free all the people in the world from the financial repression of central banks

The always online isn't fud. If you want to detect fraud, you must be always online. If you aren't, you can't stop your channel partners from stealing all your funds.

Let's just go through those bullet points at the bottom of that infographic.
>No locking-up of funds
>Unlimited, instant payments
These two are false. In order for an intermediary node to act as part of a route for LN channels, the node must stake sufficient BTC in its wallet. Channels require every node along the route to have sufficient free liquidity equal to the channel value all the way along the route. If a node doesn't have enough liquidity in it's wallet, it can't act as part of the route.

So LN will create huge economic centralization of transaction routing, where only whales will ever have enough BTC to meaningfully participate in the LN. If you only have 0.01BTC, your lightning node can only have 0.01BTC of channels open, max. So why on earth would anyone ever want to open a channel to you?

And LN is blatantly not unlimited. If the max rout between A & B on the network has a liquidity of 10BTC, the maximum possible LN channel across that route is 10BTC.

Bigger problem will be spam/dos. With onion routing that LN uses there is no way for a node anywhere along the chain to know where the route they are participating in originated. And to route a transaction, a node must have sufficient liquidity, a node that stakes 1BTC can only have 1BTC of open channels max. And closing a channel before the timeout requires the consent of BOTH channel partners.
So an attacker can open a multitude of routes between themselves across the network, and exhaust liquidity in every node along the route. & then refuse to consensually close the channel before timeout. And because the origin of routes is obfuscated by onion routing, nodes along the route can't do anything to differentiate the spam from valid transactions.

Honestly, the more you look at it the more LN looks like a bastard proof of stake glued onto Bitcoin.

Dupount Bros, Rockefellers, Vanderbilts etc.. typical brainlet.

Isn't the chart obvious enough?

Find me a person on planet earth that wouldn't take gold. I can show you billions that wouldn't and even couldn't take Bitcoin. Most people on earth don't even have a computer or electricity and wouldn't take your numbers on a piece of paper in exchange for physical goods. Do you even hear yourself? You want it to be real so bad that you're forcing yourself to believe the lies. Crypto is done. Quantum computing will guarantee it's finished within 20 years if nothing else.

>Find me a person on planet earth that wouldn't take gold
anyone with a brain? if someone insists on paying in gold for something that's never payed for in gold it sounds very suspicious. Unless he's offering a 15%+ premium nobody would do it.

This guy has it.

Star bucks CEO says BTC is shitcoin but cryptocurrency is future.

My parents work at fortune 500 company and attended seminar that said Crypto is the future, but BTC is a shitcoin.

>Even boomers know its a shitcoin

My mom after watching the presentation asked me to buy ETH for her.

BTC is done, crypto can grow 50x after we kill it. If you are smart, you will sell all BTC now to another coin. It's slow as fuck, it has nothing to back up, such as a network you can use it as a token on that has utility.

People accumulating satoshi are going to wake up one afternoon with 80% of their money gone.

it's up the most of any top 10 coin other than neo, that's why you are fudding today.

BTC is a speculative asset not a ponzi schem e. Nobody is promising you returns brainlet.

fucking garbage coin. BRING GOOD BIZ BACK, FUCK CRYPTO QUEERS

I dont like bitcoin

it coarse, and rough... and it gets everywhere

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BITROCK WORTH MORE

BTC network transactions and market value of BTC aren't in relationship.

>non-national currencies having negative inherent value
That's a bunch of assumptions, reel it back a lil. your definition for American fiat is correct, surprisingly.

Immutable public ledger is valuable tho. You haven't properly addressed this. Gov will crack into btc, but the idea exists and will take new forms. Game theory dictates that governments will aim to adopt and compete for the dominant currency (likely btc), you state that belief is what drives all of this - and belief is moving far away from current government and institutions. Cryptocurrency is pretty much unstoppable at this point.

>spam transactions
I love this meme

>ponzi

Look up what a ponzi is you fucking retard. Speculative assets are not ponzis.

>"All business everywhere" produce actual VALUE through
hahahahahahahahahahahaha