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10014031 No.10014031 [Reply] [Original]

Why did crypto fail?

>> No.10014052

>>10014031
It didn't, you just believe it did because you bought in above today's prices. Late to the party, OP.

>> No.10014073
File: 63 KB, 500x412, 50382E87-E48D-4C6D-95B3-CEF53113B01A.jpg [View same] [iqdb] [saucenao] [google]
10014073

i guess it was a tulip mania after all

>> No.10014088

>>10014031
claim to replace fiat currency but priced in fiat currency
claim to be decentralized but transactions centralized around exchanges
claim to be currency but used as investment even their proponents tell everyone to hodl, most of the transactions are buy sell to fiat/other crypto
claim to be high in demand, but the only demand is get rich quick by greater fools

>> No.10014091

it's a database, but costlier and slower

>> No.10014107

>>10014031
Because they dont have real value like stocks. You dont own a company and you dont get dividends.

>> No.10014108

i mined btc in 2010. it wasnt worth anything. no exchanges to sell it on. no one knew about it. i mined it because tech was revolutionary and knew the ponzi would make me rich as fuck which it did. the little bittycoins i mined went from 0 to 20 fucking thousand dollars in 10 year. i mined a shit ton.. id say btc is a success. i havent sold a single one. and im still mining.

>> No.10014119

I bought in at 17k.... Everything I owned.. I literally sold my house and moved in with my mom. It's all gone now.... REEEEEEEE

>> No.10014143

>>10014031
because it's a commodity, not real money

commodities rise and fall all the time

>> No.10014232

>>10014031
Because it is too unstable to function as a currency and so only ever had mainstream interest as an investment.

>> No.10014402
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10014402

>objectively worthless vaporware that is worth at best 1 billion collectively
>800 billion valuation
>"why did it fail?"

>> No.10014425

>>10014088
good post

>>10014091
dumb post

>> No.10014449

>>10014031
>>10014073
>>10014088
>>10014091
>>10014402
>what is a bear market

>> No.10014461

>>10014031
Mania that exceeded any possible reason. That and bitcoin fucking sucks at the moment. All the flaws became obvious, and any solutions for scaling and what not aren't ready for a long time.

>> No.10014469

>>10014461
>for a long time
Yes, so it will make a comeback.

>> No.10014484

>>10014031
M E M E M O N E Y
E
M
E

M
O
N
E
Y

>> No.10014538

>>10014484
>meme
Grow up.

>> No.10014545

Because btc and other crypto were marketed as 'currencies'.

They failed at that, so they tried memeing people into thinking it was a 'store of value' and 'digital gold'


It isn't gold and is a terrible store of value. It can be hacked, mining is controlled by chinks, and it has no physical properties.


Gold is extremely useful in electronics, beautiful in jewelry. and shiny. People like shiny things.

People who say it's better than gold because you can move it quicker are retards.

>> No.10014556

>>10014469
Yeah, someday. Cryptocurrency is too good of an idea, will always exist in some form.

>> No.10014574

>>10014052
/thread

>> No.10014584
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10014584

Get a little perspective. Just 6 months ago people were freaking out when BTC broke $5k for the first time. BTC being worth $5,900 is not failure. It's a massive fucking success, and it's just the beginning.

>> No.10014607

>>10014545
This. Digital currency isn’t tangible enough to be a good asset

>> No.10014627

>>10014584
Exactly. People here do not have a long enough perspective.
>>10014607
That has nothing to do with it. Stocks and bonds aren't tangible.

>> No.10014654

>>10014425

dumb poster

>> No.10014658

>>10014031
0 to 20,000 in less than a decade. No other asset in human history has seen that kind of value appreciation. Your inability to keep from FOMOing in at the top says nothing about crypto itself and everything about your lack of trading prowess

>> No.10014677

>>10014627
When you buy a stock you are buying a piece of a company. When you buy apple you see the drones of society buy a new phone every year and use imacs. The stock is ownership of the company, employees, and products they produce.


Same deal with bonds, you're loaning money to the government so they can do cool shit like drone people and rape 3rd world countries.

>> No.10014727

>>10014677
When you buy a bitcoin you are buying part of the blockchain.

>> No.10014739

>>10014031
Tether

>> No.10014742

>>10014584
Exactly
I lost my shit when bitcoin crossed 2000 usd

>> No.10015104

>>10014658
20000 to <6000 in less than half a year.

>> No.10015159
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10015159

>>10014088
JESUS CHRIST I REALLY AINT THE ONLY PERSON TO THINK THIS

>> No.10015174

>>10014031
It's a bear market retard, coupled with crypto being highly speculative. It's going up again, whether it be this year, next year or in 5 years.

>> No.10015205

It's been dropping because of all the exchanges get hacked in Korea, which were buying BTC like crazy a few months ago.
Nothing to see here. Just let the prices drop.
They'll rebound hard in a few years.

>> No.10015289

It didn't fail, it just got hyper-inflated by normies and is now back at its regular level.

I honestly don't understand the hodl meme because it was obvious to everyone that December would be the price peak.