>crypto's main selling point is that it's decentralised
>hence no central bank to keep price stable
>a currency's main requirement for mass adoption is price stability; thus crypto will never be mass adopted
once you understand / internalise this fact you will sell your Linkies /btc / shitcoin
Price stable relative to what? USD goes up and down compared to to other currencies but 1 USD = 1 USD. What it will get you varies and crypto is no different. The more people that use it the less it's daily fluctuations.
gonna be honest here:
i sold everything cause i couldnt take the volatility. it either continously goes up or it stays stable. these “drops” since january completely turned me away from crypto.
to be a currency habe either constant gains or stay at least stable, otherwise its utter shit.
Ok. But what happens when the dollar collapses
you clearly know NOTHING about central banks
the dollar / euro is not some shitcoin. central banks will bend over backwards to keep it afloat. one example tactic is mass currency conversion to sterling to regulate price or create artificial shortage
>gold has no central bank
>not all the cryptos are currencies
It sounds pretty retarded, you know.
And there are already use cases for the currency coins, and no, I don't talk about the drugs.
To be fair the reason The US went off the gold standard is because they couldn't print more gold but they could print more worthless paper. We are just finally coming full circle with digital gold.
The dollar is a massive shitcoin
>Thinking crypto is all about being a currency
Holy shit, dig deeper you newfags
You can't print more "digital gold" but you can always crash it.
>What is DAO?
There are plenty of projects having decentralized analog of central bank.
Now fuck off
Yeah. Having no liquidity for a global market will do that to you.
>Central Banks are entity which keeps the price stable
Are you genuinely retarded?
>central planning works guys
Thank you marx
you are a contrarian millenial soy boy. money is SRS business not hipster bullshit. yes money needs centralized control to keep it from flactuating
Most price level fluctuations in modern history were caused by central governments, you retarded communist piece of shit,
if you buy a 2nd hand car today with $8000 dollars tomorrow the seller would have $8000 in hand
with bitcoin he would have $7000 tomorrow
END YOU LIFE FOR FUCK'S SAKE
u r as brainwashed as a cult follower
I always knew cryptocurrency is worthless. Whether I can make money buying and selling it is a separate matter.
Stellar is dealing with central banks to solve this issue
Believe it or not, Bitcoin has become more stable over time. It used to be way more volatile years ago. As liquidity increases, it stabilizes. It's still unstable because it's too small when compared with national currencies.
it will stabilize itself. It's several years away, but it will stabilize itself. People won't keep trading this this like crazy for ever.
this
all businesses will not use it. I am a businessman. a currency without a regulator cannot be trusted. what if a whale dumps?
i read somewhere that whales own most of bitcoins
>what if a whale dumps?
This is good for the market. When a whale dumps, money becomes more distributed. Price falls in the short term, but then it recovers and becomes more stable over time (as the size of whales' stakes become smaller). In the early days, whales used to have more Bitcoin than they have today. Wealth is becoming less concentrated.
>i read somewhere that whales own most of bitcoins
Whales own most of dollars.
forbes.com
all mental gymnastics. there is no need for crypto by anyone. ONLY MONERO for darkweb market
remember the pen scene from Wolf of Wallstreet?
>t. jew
Crypto is useful for cross border payments
But it won’t succeed as a libertarian decentralized currency
But you don't understand (((Someone))) needs to control the currency from a centralized point. Your society can't function without it. DON'T YOU FUCKING WALK AWAY FROM ME GOY I WILL DESTROY YOUR WHOLE FUCKING CRYPTO MARKET REEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE.
that's his fault for not selling it as soon as he got it
>for cross border payments
why do you guys keep repeating this meme?
transfers cost huge BTC fees. also you retards ever heard of paypal? or a fuckin cheque? I am not an expert on money washing but jesus you guys are retarded if u think BTC saved the money laundring world
It's not mental gymnastics. Prove what I said is wrong. You can't. I can back everything with evidence.
>there is no need for crypto by anyone
This is like saying you don't need the internet.
Crypto reduces transaction costs, so naturally we will shift to it. Sure, maybe we won't shift to bitcoin, but to government backed cryptos instead.
>it's bubble
Tell me something I don't know. This was not the first cryptobubble, there have been at least 4. This was the first to become mainstream.
thats why theres JNT
you are wrong and we will do everything to cripple crypto
get me a Fillet O Fish bitch
Crypto is not only BTC
Coins like ripple or stellar solved the fees and transaction time issues a long time ago
Bitcoins value is not its stability lol. You dont know what ur talking about
>it won’t succeed as a libertarian decentralized currency
Your opinion will change once it starts going back up.
>transfers cost huge BTC fees. also you retards ever heard of paypal?
I have to transfer money between countries on a regular basis. Currently a transfer of ETH or BTC costs $2. Litecoin is evern cheaper. Western Union costs 25+ USD. Bank wires cost 1-2%. Paypal across countries is a meme, it barely works. Soon we will be transfering money for $0.0001 with the stuff like the lightning network.
>t. 2012
google stablecoin
then ethereum
then makerdao
you're welcome
you transfer $8000 of BTC in the mornin and at night it's worth $7000
just end it man....read my op
central banks create instability if anything (i.e. mass printing of money, see post war Germany, current Venezuela, Zimbawbwe etc).
Stability comes based on the adoption of levels of merchants. The more services and products you can procure with a fixed supply currency, the more stable it will become given the goods and services you can exchange the currency for acts as a value peg.
>you transfer $8000 of BTC in the mornin and at night it's worth $7000
Yes. Or maybe 8k becomes 9k. Whatever. As I said earlier, price volatility has fallen a lot since 2012, and it it will keep falling.
Also see this:
end it man. if i wanna transfer $10,000 i do so western union. wanna know why the fees are a bit higher than shitcoin's shitservice?
maybe you are extremely poor and cant afford 2% fee? I gladly pay that 2% and get god tier service
Hey RETARD, what happens when the government decides they don't like where your sending your Western Union transfer? Huh asshole? They take it. Ohhh you want records of the fact they took it? Grab a pair of fucking kneepads and start making calls.
What happens when i transfer with Bitcoin and the government doesn't like it? Fuck all.
Crypto is the key to giving people power over their wealth and removing government and corporate control and will bring about a era of TRUE free trade.
Bye bye,
>maybe you are extremely poor and cant afford 2% fee?
That's like $200 when you trasnfer 10k? $400 vs. $2, pick one.
>I gladly pay that 2% and get god tier service
Alright, I got it. Either you are LARPing or kidding. Anyway, it takes 4-5 business days to complete an international wire transfer.
you talk like that coz you transfer sit amounts or get shit profits (maybe you an agent)
you would NOT wanna transfer $50,000 using shitcoins
that $400 you save is nothing compared to the $5000 you lose in volatility
u r so deeply brainwashed there is no way out of it.
I was rude in my earlier post, so i will be kinder because i honestly want to hear your response to my point.
How do you address the fact that blockchain carries the potential to strip government and corporate entities of the ability to censor and control people using various forms of wealth distribution/theft. What other system, other then a decentralized blockchain, gives full control to the populace without any centralized power structure that can be bought or manipulated?
I wont hold my breath,
The primary quality of an asset that allows it to be a currency is its ability to retain value, not lose it through “stabilization” by printing an infinite amount, which is why limited-supply money is better and will eventually replace fiat. Secondly, much of crypto’s current price volatility is a consequence of its low market cap and a low level of trust, partly thanks to subhumans like you spreading such unsubstantiated bullshit FUD.
In the UK bankwires are instant and free. The other day, I paid for US goods over paypal, and it was instant and cost a few pence.
How is crypto cheaper or faster in anyway? I have to convert the crypto to and from fiat anyway, so it can only be worse (atm)
Gold was a limited supply money and it had massive inflation/deflation in the 19th century.
Do people genuinely think that bitcoin is going to become a world currency? Adoption is down and it's worse in every metric than fiat. The only thing it has going for it that it went up massively in price, but that's stopped now (so it seems).
Please see:
op here. notice how most of these BTC investors dont come from the business world. i come from that world and I am startled when they mention transfer problems and fees. what problems and high fees?
Private property in the external world still has to be enforced by a government promising to use violence on whoever stole your property. You still need a government to link things in the blockchain (e.g. tokens for land) to the thing itself (e.g. the land).
Blockchain is just a database which solves the double spending problem.
>In the UK bankwires are instant and free
I was talking about international bank wires.
>The other day, I paid for US goods over paypal, and it was instant and cost a few pence.
Great, you bought something on eBay congratulations. Now try to transfer money using paypal to a South American, African, or Asian country.
>you would NOT wanna transfer $50,000 using shitcoins
I've done it using ETH. It's easy and seamless, and it takes minutes instead of days. You don't have to ask anyone's permission and there are no questions asked.
Okay I've never needed to do that though, and I think that's true of most people as well.
In the EU our sepa transfers are very quick as well. You can use transferwise for more international transfer as well.
99% of currency transfers are done locally, so that's what fiat specialises in.
First of all you did not address my question in the least. I pointed out the fact that blockchain allows the transfer/storage of wealth while disallowing interference by any government or corporation.
You sir are referring to the enforcement of physical property rather than the transfer/storage of wealth however if your interested in property right post-government i would suggest you read up on Libertarian principles or better yet..... Anarcho-capitalist principals.
I think its time to take the bog pill.
Can you imagine the average no-coiner? Especially the ones on r/buttcoin. I just think that it doesn't make sense that they consider a ~70% drop from ATH to be the losses of everyone in crypto because it's retarded to assume that everyone bought that high. Opportunity cost, yes, but then you can only imagine that these guys started fudding bitcoin and crypto in general some years ago, looking back at the post history of the average no-coiner. Much sadder is when you see that some of them post on r/investing or r/entrepreneur, probably spending a lot of time there, trying so hard to come up with ways to make money when he could've just bought in. Even the ones who only started being salty at the start of last year, their opportunity costs are still what, some crazy amount still. I think I read somewhere that they applauded some dude who made a manifesto of sorts and sent it to SEC, lambasting the Winklevoss twins' attempt at making an ETF. Bitcoin at that time was below $1k. I think it's more sensible to make fun of the idiots who bought into crypto when it goes below the point where you started being a salty no-coiner. Because making fun of bitcoin back when it was $1k, and after going down from $19k ATH to its current price, well, it just seems retarded because the ones who you started with in this game of crypto are still way ahead. It may very well go down to that point, but don't count your chickens and all. Like being down some 1000 points in a basketball game and cheering like a maniac when there's only a 300 points deficit. You're still losing.
Okay if you're seriously an ancap there's no point arguing. Property rights only exist with a government.
There is no wealth if it's not backed by anything in the real world.
Because bitcoin is terrible as a currency, expensive, can't scale, slow, volatile.
It's clearly a bubble and has further to fall.
>the dollar / euro is not some shitcoin
What about cryptos that aren't meant to function as a currency? Surely you see the use case for dApps and blockchain in general?
>with bitcoin he would have $7000 tomorrow
No nigger, he would have however many bitcoins you paid him for the car. The price conversion to fiat is irrelevant if people are accepting crypto for purchases. You can just as easily say that he wouldn't be able to buy the same car back for $8k the next day due to inflation.