/biz/ - Business & Finance

Does this continue to $10,000,000? $100,000,000? $1,000,000,000?

>>24942381
>injects hopium
CHH AWW YEAH THAT’S THE STUFF

>>24942637
It can only go up!

Fuck this im selling.

>>24942637
yes but with muh "lengthening cycle"
so maybe in 30-40 years it will be worth 100 mil per

>>24942637
>today i will remind them

>>24943816
At a certain point you would stop using dollars to compare, as BTC would essentially take over. However, I suppose its useful to compare it to todays dollar.

Do we have an idea of how many coins have been burned or lost? If half of them are unusable, then it could reach $20 mil, by this guy's logic

>>24942381

>>24942693
this

C тaкoй пpoкaчкoй btc вce бoльшe людeй пытaютcя нaйти нaдeжныe плaтфopмы и aльты
Heдaвнo нaткнyлcя нa DuckDAO, вы пpoбoвaли тaм игpaть? Пoхoжe, этo пepвый кpиптo-инкyбaтop c хopoшo пocтpoeнным тoкeнoмикoм.

>>24944823
>This guy's logic
Either is Satoshi or apart of the team

AHHH GEEZZE DUDE, 4 MORE YEARS?

>>24942637
Only if we're on a path to becoming a Type 3 civilization.

>>24944823
>this guy's logic
>this guy
dude read the bottom of that image unless you are satoshi himself stfu

>>24944823
>If half of them are unusable, then it could reach $20 mil, by this guy's logic
satoshi wrote that, of course hes gonna shill his own shitcoin

>>24944823
Roughly 2-3.5M Bitcoin are believed to be lost with a high degree of confidence. Higher bound estimates say 4-5M. I personally think it’s ~2.5M lost.

Even when it's worth 1m I will only have 100k

>>24942381
What is quantum computing

>>24942381
Pic related prediction made in 2014. 10k was hit 6 days after he predicted it would.

>>24942381
Imagine falling for this.

I sitll think API3 is the winner mid term.

>>24943816
This lucky fucker understood. Yeah he was going on a hypothetical tangent with the 10 million dollars thing but he was in the right place at the right time and he understood that the risk to reward ratio of just setting it up and mining bitcoin for a bit was insane, it was something you should definitely do because it cost like 10 cents and could make you enormously rich
I hope he did mine bitcoin and become rich (Tell me if I'm being retarded, I have no idea who he is kek)

>>24947120
That is Hal Finney, the first person to receive a Bitcoin transaction from Satoshi himself. He was one of the first people to work on the code and use Bitcoin, some suspect him to be Satoshi himself.

He suffered from ALS and in 2013 he cryogenically froze himself to be revived in the future. He definitely was damn bullish on Bitcoin, the decision to freeze himself when he was near death from a debilitating illness means he was very fucking hopeful about Bitcoin.

>>24947160
He also developed PGP, another indicator he could be Satoshi or part of the Satoshi team. He is a Bitcoin legend

>>24947160
>>24947169
Thanks for the info anon. I hope he can be unfrozen someday and live but, I'm pretty sure the act of freezing yourself just destroys all your cells and I feel like that's not something that's going to be undoable within the next 100 years so, RIP Hal

>>24943816
Hal will return when he is awoken from cryoslumber and become Hal 9000
Raining down prophetic wisdom upon us

>>24947067
This image is the literal reason I got serious about putiing my entire networth into crypto ever since 2017

>>24944842
this is hilarious in that this mspaint laden picture is basically enough to explain why bitcoin will truly become digital gold as long as you understand how bitcoin works and why none of the misconceptions about it are true

>>24947270
Based

>>24946992
If quantum computing breaks encryption we are fucked whether you hold bitcoin or not.

>>24947257
Normally yes but the company that deals in cryogenic freezing is on standby for your death, they whisk you away and pump your vascular system with a special cocktail of antifreeze type drugs as they chill you so that cells don’t burst.

>>24942381
very good, but it’s 2020

>>24947067
So what happens after 2024? Stablecoin at $1mil?
Or line only go up, just like stocks?

>>24947120
>lucky
this dude was part of the cypher punk scene before you were an itch in your dad's wrinkly balls. luck had nothing to do with it.

>>24948356
10m eventually but probably takes longer than 1 more cycle, maybe 2 or 3 cycles. so 2032 at the latest. then who knows.

So wait this guy Hal is the creator of bitcoin and he’s dead? Doesn’t that mean the million bitcoin in the first wallet are lost forever?

>>24942381
blocks your path

>>24948434
UwU what's this?
Capitulation I smell?

>>24948434
>buy my premium, goy.

>>24948412
Probably.

>>24942381
>>24943816
>>24944842
>>24947067
>51% hash power
>this kills btc
Uncle Sam will protect dollar hegemony, he will kill btc
just like he killed the gold dinar, just like he killed Euro for oil

Washington has just started realizing btc might be a problem

The United States will issue RICO lawsuits against all miners in the West and seize their mining operations for facilitating transactions for drug cartels and terrorists

The United States will demand priority service from SAMSUNG/TSMC as part of Taiwan/Korean defense

The United States will establish hash dominance by pushing btc price so low that commercial miners are forced to shut down, increasing American hash dominance

The United States will block all btc transactions and double spend their own btc until crypto is abandoned

>>24948601
can't even build a wall, build any meaningful infrastructure or find the political will to do a non-drone war anymore, and yet the US govt will cobble together and implement a plan to be the #1 miner in the world.
get real. maybe if they contracted it out to a private contractor but they'll blow up all the money and kill the USD at the same time

>>24948658
>enact legislation against btc
>btc price plummets
>commercial miners are forced to shut down since they can't sustain operations with low btc prices
>seize a few of the remaining mining operations
>dominate

>>24948601
America needs to be nuked.
Fuck these jew fatasses

>>24948734
>massive financial institutions are now throwing their hat into the BTC ring
>surely the US gov't will now over-regulate it

cmon bro. you can make up better FUD than this.

>>24948734
hashrate plummets, blocks get cheaper and easier to solve .. as intended. Realist is hashrate continues to climb from confidence in btc, If you think governments aren’t funding mining ops you’re retarded. /they/ don’t wanna kill it however /they/ want their profits from it, taxes and fees

>>24948762
>>24948783
they don't give a fuck about making bitcoins
they care about protecting their currency and killing the competition

>>24948762
from what i heard..... the gov is only worried about stable coins lmao they view them as the threat to national currencies.... as for bitcoin and the price fluctuating coins that are all over the place, they dont give a fuck about those. but yeah govs already tax the crypto space anyway so regulation has been here since 2017....

>>24947075
is not api3 just another shitcoin? How would it challenge btc

>>24948233
I didn't even know that was possible, smart decision on Hal's behalf

>>24948412
We've known for a long time that the million btc is probably lost

If bitcoin reaches 1 000 000, that means that its market cap would be greater than the market cap of the entire world depending on how you measure it. Good luck with that.

>>24942637
it really depends how much the FED is going to print

>>24942637
It tops out at 4 million
100 trillion market cap
We will be dead btw

>>24948601
>consensus materializes to changes hash algorithm
nothing personnel

>>24949346
the world's top 1% holds ~$173 trillion (~43% of total), and at $1milion btc would be about 21 trillion market cap. Gold has a market cap of ~$10 trillion. Monetary expansion will continue in perpetuity, and the rich will get richer while the poor get poorer. Equities, precious metals, and real estate will continue to inflate. We're already started to seeing commodities start pumping, soon we'll be paying $30 for a cup of coffee. Point being, the whole economy is in a massive bubble but btc has mathematically enforced deflation. And unless the apocalypse happens we live in a digital world now, even if electricity went out you can do offline signing and create your own grid locally. I could refute literally every piece of nocoiner fud possible for hours on end since I've heard it all since 2011.
>>24942381
I prefer planb's model in pic related. our goal now is to overtake silver and gold. brainlets can't understand the s2f meme line but if you can't understand this one you should just neck urself tbqh. On that note, eth and link are trash shitcoins.

>>24949346
Newfag detected, it’d be 500k when it hits the market cap of golds _today_

>>24947917
Nope

>>24948412
>you die
>your money goes poof!
I doubt it, more like someone got a big inheritance.

>>24942693
based starcraft anon

>>24948762
Have you ever heard about the concept cornering the market? Look it up.

>>24943816
Based Hal

FFFFF
F
FFF
F
F

>>24950079
if you really can't see how a large, powerful player like China or the United States can seize complete control over bitcoin you are mentally retarded

for bitcoin to function a majority of the hash rate has to be in the hands of honest, or at least non-cooperative players
the moment a majority of the hash rate ends up in the hands of one player, or a number of players willing to cooperate in a malicious manner bitcoin is fucked

hash rate is not some magical thing that just rains down from the sky, it has to be manufactured in semiconductor fabrication plants which are extremely expensive to build and they are HEAVILY centralized;
Pyeongtaek, S3-Line, Yokkaichi Operations fab , Fab 18 and Tsinghua Unigroups upcoming fab are all located in China, Taiwan, Japan and South Korea and these factories alone produce many times more semiconductors than the entire Western world combined

putting your wealth into btc is a massive gamble on a system that can and will eventually end up being controlled by a single powerful party

Financial brainlet here, lets say you bought 1000 bitcoins when it was $1, then it goes up to $1 million, how would you turn that liquid? Would anyone buy it? How would you use the bitcoin to acquire other assets?

Please educated me /biz/

>>24948783
blocks getting cheaper or easier to mine doesn't matter when the large player already has a majority of the hash rate

keep in mind that China/Uncle Sam doesn't have to be profitable, they can mine just to destroy a competing currency

>>24950659
if you want to convert a large number of btc to dollars you have to sell otc to a large buyer or sell off extremely slowly on an exchange

if you want other assets just liquidate into dollars and buy what you want or find someone willing to trade btc for the assets you want

>>24948601
>Uncle Sam will protect the post office from email
>Taxicabs from Uber
>Main Street from Amazon
>Record lAbels from MP3s
But somehow This Time Is Different. Disintermediation is a bitch

>>24950760
are you really dumb enough to compare the dollar, the basis of the American empire and all American wealth to fat indian taxi drivers, ma and pa shops and some dumb nigger with a synth?

jesus christ btc really is going to zero

>>24950637
>putting your wealth into btc is a massive gamble
I agree 100%, personally I'm just playing around with some old dust I have trading futures, but I'm unironically never selling. There's no financial incentive to 51% the network, since all the mining equipment used to do so would become worthless, along with the btc holdings of the attacker. The CIA or some state level adversary that gets revenue through theft (taxation) would not mind the financial disincentives I guess, but I think we're too far past the point of govts trying to kill bitcoin. In fact I believe satoshi was a group of people, a CIA/NSA/DEA operation to create a digital surveillance coin. GBTC has been around for ages, and institutions are buying one after the other. I remember "institutions" "etf" used to be a meme, but this time it's really happening. See you at 420k fren.

>>24950637
So many words you’d think at least a couple would not be wrong. What matters is full nodes. All miners colluding together can do NOTHING.

>>24950814
The dollar, backed by an army that can’t even take down girls in wok hats? Yes. Yes I am

>>24950822
non-mining full nodes cannot prevent a 51% attack you dumb nigger
the only thing nodes can do is uphold the validity of the chain i.e. no new bitcoins out of thin air and no transactions without proper authorization
they cannot independently verify double spends which is why 51% attacks work

do you niggers know anything about bitcoin at all?
>>24950842
taking down btc would be a lot easier than defeating 900 000 communist guerilla fighters backed by a communist super power in a jungle 8000 miles away

>>24948601
Shut up, they'll just bribe Biden and it's over.
Did you forget you no longer have a real president, starting 2021?

>>24951000
I'm not American but I don't want the dollar to collapse despite owning both gold and btc
if.. when the dollar collapses pax Americana will be over, the US will leave the middle east, China/Europe will have to live with OPEC's record high oil prices or invade and sort out the region for themselves but Europe is weak as fuck and China allied with Russian will win

when the US falls Europe will literally go belly up, nothing will remain
the US will still do relatively well in the long run being far away from the upcoming mess and having plenty of natural resources in it's own backyard

>>24950814
It’s not even just the US.

Btc can only survive as long as the Chinese government allows it to rumble on under the radar. The moment it threatens control (and it does), how long do you think it will last?

See: Ant IPO.

>>24942637
probably

bitcoin will never overtake the role of money imo. it will be a money substitute in fringe cases like other commodities sometimes are.

but it will overtake the role of gold. it's just better. in every which way. more convenient in the modern world cheaper to secure cheaper and simpler and faster to transport and store.

the way you secure the blockchain from solar flares is basically tinfoil from the convenience store. the way you secure gold is you build fortresses vaults armored cards and armed escorts.

gold is stupid.

>>24948601
if 51% attacks would be useful or profitable don't you think someone would have fucked bch already?

>>24951669
you don't seem to understand
it's not about making profit from btc, it's about destroying btc to prevent it from replacing dollars/yuans

>>24951791
>(((They))) are starting to buy bitcoin on (((Wall Street))) and (((Corporate Balance Sheets)))
>(((Politicians))) are starting to own it in their personal accounts
>Imagine thinking the (((US Government))) will actually go after BTC when there are (((profits))) to be made
Anyway these fuckers can't agree on shit and most people are too retarded to comprehend bitcoin in the first place. Therefore the existential threat it poses will likely not be understood until the US military doesn't want to be paid with USD toilet paper money anymore.

>>24945758
we are

>>24951791
there is no incentive for governments to destroy bitcoin... now tether and facebook libra and other corporate sovereign currencies are a different matter.

>>24946752
2 million are gone at least
1 mill satoshi
and so many people lost so many early coins by not securing their computers or throwing away their hard drives

>>24953861
also btc is lost every day because knowing a secret properly is not a good inheritance scheme.

>>24950961
>>24951161

Look we get it, you didn't trust bitcoin originally, are now late as fuck and are COPING very hard.

>>24949346
wait what no
https://www.visualcapitalist.com/all-of-the-worlds-money-and-markets-in-one-visualization-2020/

>>24950637
>if you really can't see how a large, powerful player like China or the United States can seize complete control over bitcoin you are mentally retarded

have you seen the other 8000 cryptos on CMC ready to take over

Sure even *IF* they could take down bitcoin, there so many much more resistant coins, infact that will just become a selling point

Feels so good to be a NORMIE and a MAXI.
The shitcoiners can only seethe. Bitcoin goes up, shitcoins goes down. This is the price they pay for being a autistic pleb.

>>24954186
LITECOIN

>>24942381
>not using S2FX
NGMI

>>24948601

The dollar, backed by the American military that is getting browner and weaker by the year

>>24951161

Except we have the demographics of Brazil so the US is fucked regardless

>>24948601
Imagine actually believing bitcoin isn't a western funded lifeboat for the broken financial system. You WILL switch to the easily controlled digital currency reserve goy, which we have millions of from website seizures, and you will like it goy. Oh what's that, you don't like your debt being denominated in a deflationary currency goy? You think it's unfair we just seize all your assets unless you move to a third world African shithole goy? Lick my fucking boot goy, look at all your countrymen willing to kill you because we told them you got your wealth through trading child pornography we found on your laptop.

>>24943816
>payment system

ha.... no one uses btc

>>24948601
im pretty sure they could just close the big exchanges and the price will plummet.

>muh black market
wont sustain 20k a coin

this goes for any country

>>24954501

Nah, the large majority is going to be a white/hispanic mix, Brazil is 50% black

>>24948434
god damn. plan b literally beat the fuck out of him!
knocked all his fucking teeth out! brutal!

>>24943816
Rest In Peace

>>24944823
>this guy
Summer cancer detected

>>24947917
totally the internet actually will stop working if a bad actor can break sha 256. btc will be down for a month then they will just switch the encryption. quantum wont be a big deal.

>>24942693
BASED broodwar anon

>>24942693
show me the money

>>24948837
if its between bitcoin being reserve and china controlling reserve the west will go bitcoin. its fate, the hand has already been dealt

we will always have other cryptos

>>24944842
Dangerously based.

>>24952494
If the older BTC whales decide to dump at the top with short contracts for extra profit it could still happen again.

>>24947067
Based and trololopilled

>>24948601
>Adds masternodes or changes to proof of stake.

Nothing personal kid.

>>24942637
10 years unironically 1.5 million per bitcoin

>>24951161
>I'm not American but I don't want the dollar to collapse despite owning both gold and btc

Then tell fucking boomers to stop supporting monetary base multiplications every time they shit system falls since 2008.

They accumulated wealth under strong currency and now they print trillions every time there is a problem to bribe themselves out of it.

>>24948837
>they care about protecting their currency and killing the competition

It does not work like that any longer the problem is that they killed the competition and got too lazy it's unbelievable they have not increased dollar denominations since they removed the 10k thousand bill in 1969.

You can't even use the usd for house purchases in places were it's used in cash like latin america.
It's an insane risk to go out with a bag of dollars and this retards keep demonetizing their own currency.

Also currency shortgages of usd are forcing governments to do things like swaps with china, they are their own enemy this time , if they don't stop the cashless society keynsian lunatic faction the usd will be rekt and so will be the euro.

>>24949346
No that's just 14 trillion usd 2x gold marketcap and usd monetary base will probably increase 5x next years thanks to biden lunatics.

>>24952494
For the usa elite bitcoin is like a soft implemented bretton woods bancor, it would not completely replace the dollar but it would eliminate many of the problems the usa has due to being the reserve currency.

It's basically a soft fork for the usd reserve currency system that would allow them to escape from the Triffin dilemma slowly and still regaining some powers of the reserve currency.

I think a faction of the us elites are starting to realize the reserve currency status has become a danger when they have lunatics like aoc wanting to do 30 monetary bases of stimulus because lmao just print money.

Time to bring back something to measure value before the communists lunatics use the reserve currency status to create hell on earth since it would take a decade for them to evaporate a decade in which they can go full hugo chavez.

Biden is there by pure luck they were nearly not able to gain the democrats from the marxist wing this time.

aslong as link pumps to 1k and beyond i dont care

>>24954375
the service academies are about 60 percent retarded minorities. they brought up the diversity of the class as a selling point to the parents on I-day. The majority future officer class of the us military is currently majoring in english or some other humanities related shit. that's not even considering all the fuckers that joined just to play niggerball. PC culture is rampant in the ranks, and there is no sense of comradery because one off tone comment will land you in a world of hurt.

>>24954724
Correct me if im wrong but wouldnt that help crypto as decentraliced exchange platforms become more popular and are more privacy minded anyway?

>>24948601
>>24948734
>2012 tier FUD

>>24953924
This. People don't realize how many coins are permanently lost due to mishandling daily. Sure, custodial services and wallets are improving, but it is still almost trivially easy to lose your shit if you don't know what you're doing.

Daily reminder that we are still in the early days.

>>24952494
>>Imagine thinking the (((US Government))) will actually go after BTC when there are (((profits))) to be made

https://www.bnnbloomberg.ca/treasury-proposes-cracking-down-on-virtual-currency-transfers-1.1538749

They are already at it. Give it a year (or months) and withdrawing from Coinbase to your own wallet will be illegal. This is obviously bearish since the main value proposition of BTC is an independent store of value for 3rd parties. This will scare investors, thus crashing the price and scaring miners away. Good opportunity to buy after a massive crash.

>>24957258
https://old.reddit.com/r/Bitcoin/comments/dyclf8/list_of_bitcoin_persontoperson_p2p_bitcoin/

>>24948601
T. Gif related

>>24957258
>withdrawing from Coinbase to your own wallet will be illegal
are you purposely spreading nonsense fud, or just a retard?

>Banks and exchanges would need to keep records and verify identity of recipients of transfers over US$3,000 if they have an unhosted wallet

>Rule would add compliance requirements for transactions over US$10,000

>Regulation would force banks and exchanges to keep records of recipients of crypto currency using so-called unhosted wallets

>>24957258
blah blah weak fud, when you withdraw to an address it's pretty much assumed it's yours anyhow. your identity is already tied to it.

>>24957348
How are you going to buy real state or anything relevant with p2p transactions?

>>24957401
Exactly, who the fuck wants to withdraw to your own wallet if you get the equivalent of just leaving it into the exchange? any privacy is killed and thus the value proposition of an independent store of value.

>>24957524
Yeah, except now there's another nightmare layer of bureocracy even to do a fucking withdraw to your own wallet. They are going to put all liquidity on exchanges, or insane amounts of it, then go for the kill.

They’re ring-fencing the herd. Corral them for the slaughter.

>>24957690
>How are you going to buy real state or anything relevant with p2p transactions?

Move to a friendly jurisdiction countries that go for anti crypto regulations will go for the cashless society which will cause a communist revolution and bolchevism eventually.

No reason to stay in the soviet union , otherwise you can use debt like spending from credit card and slowly paying via p2p transactions.

Were i live you can literally cash btc for usd cash at any time p2p.

Sentinel will x20

It’s not too late for me is it?

What if I put in 10,000 in a month and 15-20k a year later?

I lost my Bitcoin wallet in 2010 when I was dumb and 20.

>>24946752
Don't forget the Satoshi wallet holding ~5% of the total supply along with the same amount of bcash. (BSV too? I'm not sure about this.) This is why litecoin will eventually take bitcoin's place.

>>24957690
>except now there's another nightmare layer of bureocracy
there isn't

>>24957690
>changes fud from self-custody being 'made illegal' to privacy
btc was never about anonymity you mong. it's a public blockchain.
there are plenty of advantages of self-custody that aren't anonymity.

>>24958042
this is basically bargaining
>okay okay bitcoin sama you are allowed to completely fuck me in the ass but only if i can take pictures for my wife
>t. fed niggers

they can't stop it they can't control it they just want the appearance of control

>>24946992
>>24947917
>>24948601
YOU STUPID FUCKS QUANTUM COMPUTING WILL STILL NOT BE ABLE TO CRACK BITCOIN. TO CRACK AES256 ENCRYPTION YOU NEED TO BUILD A DYSON SPHERE AROUND A SUPERNOVA AND HAVE THAT RUNNING FOR 35YEARS UNINTERRUPTED. THE COST TO CRACK TODAY IS 8*10^45 THAT IS THE WORLDS GDP 44 TIMES OVER.

>>24958253
CRACKING THAT LEVEL OF ENCRYPTION INVOLVES THERMODYNAMICS + RESOURCES THAT WOULD WRECK THE PLANET. HOW DO YOU STILL NOT UNDERSTAND THIS

>>24958253
>NOOOOOOOOO YOU CAN'T BRING HIGH IQ AND LOGIC TO THE CONVERSATION

>>24958253
aes and bitcoin? wtf

>>24958336
when tech illiterate mongrels like you two come defend bitcoin i always get anxious af. i like you imbeciles on the fudding side better.

>>24958388
>aes and bitcoin? wtf
bitcoin & aes encryption go hand in hand. I just got into an argument with a "hacker" friend of mine who said there are people out there that can hack bitcoin and I Just don't know. I wanted to slap that shit out of him. The worlds fastest supercomputer would take trillions upon trillons upon trillions ^20ish years to crack 128bit, never mind 256. So if you ever hear someone saying that bitcoin can be hacked, they are saying they know fundementally how to travel in and out of a black hole.

>>24958691
bitcoin protocol has nothing to do with aes. at all.

>>24958691
social engineering is always the weak point anyway, even with basic encryption/security.

>>24954724
how people cant understand this is beyond me...enjoy it while they let us

>>24942381
I once doubted the meme cycle...but now I can see the truth in the Nakomoto consensus.
https://www.youtube.com/watch?v=NsoPCxdH4U4

>>24958826
they can close the big exchanges that are hosted in their jurisdiction. which is what? the 3 smallest and cionbase?

>>24958826
>while they let us
glad to see fighting for 'muh freedoms' is still important to the americucks

>>24948601

The sheer copium on display here is the most bullish signal I have seen in my entire life.

USD to zero inside three to five years.

>>24942693
Based
>GO GO GO!
>GIMME SOMETHIN' TO SHOOT

>>24954724
You mean like the time in 2013 when the Only Exchange for bitcoin went bankrupt and the founders arrested and singlehandedly all bitcoin-fiat onramps were shut down?
Man I'm sure glad I didn't buy then; would kill the whole project now in a time where dissident governments are mining bitcoin and China has an incentive to become the next world financial elite
They would absolutely bow to a US only ban on exchanges? Mining??