/biz/ - Business & Finance

>>672414


moar of cute trap

>>672414

People that say this don't have money saved. All you fags whish for is a better future for yourself because you fucked up your life financially, and now you want to get rich by holding a few worthless coins.

Consider sudokuing yourself

>>672430
So you got loads of fiat currency and you just hope it won't collapse.

Consider sudokuing yourself

>>672436
So you have no money and you hope you will be the one that'll rule the bitches when you are cashing out your 5 coins?

How old are you and what job do you have?

1. There's no reason for the dollar to collapse in the foreseeable future.
2. Even if it did, there's no reason to expect Bitcoin to replace it.

>>672414
How do I buy bitcoin?

>>672414
Ahahahaha
Bitcoin jokes never get old.

>>672414
>Bitcoin will never be cheaper. Also, after US dollar collapse it will become the main reserve currency.

"The United States dollar is the most widely held currency in the Allocated Reserves today. Throughout the last decade, an average of two thirds of the total Allocated foreign exchange reserves of countries have been in US dollars. For this reason, the US dollar is said to have "reserve-currency status", making it somewhat easier for the United States to run higher trade deficits with greatly postponed economic impact or even postponing a currency crisis."

Meanwhile Bitcoin is the reserve currency of Fedorastan.

The practical limit of bitcoin right now is about three transactions per second. It's technically seven transactions per second, but that is basically impossible to achieve in practice, so most people have stopped even pretending that it's true. So, with the 3tps in mind, you're getting about 94608000 transactions per year. As the current population of the world is about 6.9 billion, if we stopped all population growth tomorrow, the performance of your amazing decentralized currency would be as follows:

>Each person is allowed to make one transaction per 73 years.

Cool world reserve currency bro.

>>672597
>three transactions per second
Why is that?

>>672597
> decentralized

u dun goofed

bitcoin is peer-2-peer, it scales infinitely

>>672654
"Today the Bitcoin network is restricted to a sustained rate of 7 tps due to the bitcoin protocol restricting block sizes to 1MB."
Herp.

>>672658

Yep, if every single transaction is the smallest possible size, which would require every single bitcoin user to massively optimize their transactions voluntarily. Good luck with that.

In the real world, the possible transactions per second are actually more like 2.97, but I was being generous. Because I am a nice guy.

To prove how nice I am, I will give bitcoin the benefit of the doubt. Let's imagine that the devs somehow manage to force the miners to increase block size to 20mb, (which they won't because then the miners are losing money and will fuck off to a different scam, leaving the "network" vulnerable and eventually destroying billions of dollars in value) and what's more they implement bloom filters, dozens of sidechains, six hundred other useless crypto buzzwords direct from bitcointalk, and manage to increase the transactions by an order of magnitude. This isn't possible, by the way. But say they did. Somehow.

700 transactions per second. That's great, I'll only have to wait seven and a half year per transaction. By the time I'm dead of old age I'll have used bitcoin eight or nine times. Compare that to one microscopic (by comparison to our world economy) credit card company which will REGULARLY handle bursts of 20,000 transactions per second.
>such currency
>many future

>>672439
I am 18, no job.

>>672489
>Even if it did, there's no reason to expect Bitcoin to replace it.
Mah nigga, there are nah alternatives.
>inb4 butt mah dodgecoins

>>672414
Wow! You Russkies are still trying to shit up this board after 1 week. Now that's dedotated wam!

>>672597
Implying you can't make transactions inside BTC-E or Bitstamp limitless for free.

>>672865
4chan got blocked in Russia, otherwise we would have succeeded.

If I bought $10 in bitcoins, how much will I have in a year?

>Yes, I'm a poorfag and can't risk more than that right now

>>672855
Your whole idiotic argument is based on the assumption that every person on earth starts using bitcoins, but at the same time the infrastructure isn't upgraded.

That's like saying 'this company will never become successful, they don't have enough employees'.

>>672882
get into SmartCoin instead

>>672882
Probably something like $3-7

>>672414
if shit gets so bad that a crypto could become the main reserve currency then the world wide web won't even be working

If the USD collapses, Bitcoins will have a negative value.

>>672901

Only a person who doesn't understand the bitcoin protocol in the slightest way would pretend that you can just "upgrade the infrastructure."

>>672414
buy monero

>>673175
>>672855

>"the devs somehow manage to force the miners to increase block size to 20mb, (which they won't because then the miners are losing money and will fuck off to a different scam"

That's wrong though. Why would they all leave they would make more in a given block on transaction fees, if anything mining might increase.