BTC doesn't work.

[Anonymous No.14797196]

DO YOU PEOPLE NOT UNDERSTAND THAT BITCOIN LITERALLY DOESN'T WORK
When we approached ~13k the tx fees got so high you had to pay $50 to get it in a reasonable amounts of time. Once you break 20k$, tx fees go to over $100.

How is BTC supposed to go higher than that when you literally can't do transactions? inb4 Lightning Network, you need at least two transactions to open and close the LN channel. It doesn't fix shit.
How is BTC supposed to rise in price given this obvious technological hurdle?
At this point BTC is like some kind of make-believe virtual gold. People just buy it in exchanges in hopes the price goes up.
What's the fucking point of this? Years ago we believed BTC is going to become a big currency and will replace the scam banks with their fake money, and instead we got fake gold and people say that's okay. What the fuck is wrong with you people

[Anonymous No.14797227]

>>14797196
Can someone please debunk this. Getting scared bros. My life is on the line here.

[Anonymous No.14797257]

>>14797227
There's nothing to debunk here, it's literally the truth. BTC got tested by the people and it failed and therefore crashed.
There's other actual, possibly working cryptocurrency out there but I will not name names because all I will get called is a shill instead of having an actual discussion here.

[Anonymous No.14797258]

>>14797196
>I'm new

[Anonymous No.14797260]

>>14797227
He is right you know.

[Anonymous No.14797286]

>>14797196
>digital store of value
>thinking billionaires care about $100 to transfer their billions

[Anonymous No.14797289]

>>14797196
>People just buy it in exchanges in hopes the price goes up.
Pretty much this. Nobody actually "believes" in whatever the fuck the devs say the coin will do. Everyone just buys in hopes that someone else is suckered into buying it and the price going up.

[Anonymous No.14797326]

>>14797286
Was bitcoin made to be store of value? ie. basically fucking virtual gold? NO. Why do you think it became one?
Because it failed miserably at being an actual currency.

[Anonymous No.14797348]

Long transaction times don't matter, Bitcoin is being solidified as a store of value, waiting an hour to transfer gold across the world is nothing. Bitcoin isn't meant for the coffee shop, that will be some other crypto that is pegged to btc

[Anonymous No.14797360]

Crypto in general would be in an incredible place right now, probably worth in the trillions in marketcap, if it weren't for bitcoin being everybody and every legitimate business's first impression of cryptocurrencies. Bitcoin literally set us back probably by a decade for being such a worthless piece of shit.

[Anonymous No.14797384]

>>14797360
Unironically this. Given how many better actual cryptocurrencies are out there, bitcoin pales in comparison. It's like comparing dialup vs. fibre

[Anonymous No.14797873]

>>14797326
>Was bitcoin made to be store of value? ie. basically fucking virtual gold?
Yes, it legitimately was.

[Anonymous No.14797881]

>>14797873
[citation needed]

[Anonymous No.14797897]

>>14797196
Thecaseforbsv.com has good insights why btc is a dead fish in the water and bsv the only one that will survive long term

[Anonymous No.14797946]

>>14797360
Except all those public attention was built up after 8 years of growing phase. That growing phase is the primary reason why people actually gave a fuck about crypto.

[Anonymous No.14797961]

>>14797881
Have you tried thinking it through? Gee wiz why would bitcoin be made to be deflationary if it wasn't meant to be a store of value? It was made to be an alternative to inflationary fiat currencies. Yes, bitcoin was made to be gold, spendable gold.

[Anonymous No.14797973]

>>14797961
Except it's not practically spendable. It fails as a currency.

[Anonymous No.14797981]

>>14797961
Retcon harder you piece of shit

[Anonymous No.14798004]

>>14797973
Well, I don't think that blocks should capped at 1MB. It's not a very hard fix.

>>14797981
What issue do you have with the store of value narrative?

[Anonymous No.14798019]

>>14797196
How much time would it takes for you to transfert 10k from a bank account to an other?
Bitcoin is not designed to buy bread, it's designed to dematerialize wealth.
$100 is not an amount you should transfert using bitcoin.

[Anonymous No.14798040]

>>14797973
>fails as a currency
>therefore cannot be a store of value
You walked right into that one.

[Anonymous No.14798061]

>>14797257
Just say it, FTM. Anyone can read the white papers. I get called a shill everytime. DAG is just superior. South Koreans know what they are doing

[Anonymous No.14798143]

>>14797326
So use BCH or BSV and stop bitching, you sound like a woman. Those forks were made with street shitters like you in mind.

[Anonymous No.14798185]

>>14797196
Not to mention, Lightning nodes defeat the entire purpose of Bitcoin. Bitcoin was created so that peer to peer transactions could be carried out without a third party(like a bank). Lightning network proposes that we keep large volumes of BTC in a node operated by a third party so that transactions can be facilitated between peers by said third party.
>What does this sound like to you?
This is why The Flippening is inevitable. ETH transactions cost a fraction of what BTC transactions do, and are completed in a fraction of the time. Throw in smart contracts, dApps, and enterprise adoption and its painfully obvious that ETH is the vastly superior crypto.

[Anonymous No.14798513]

>>14798185
what is the purpose you think lightening nodes defeat. Btc is still decentralised, but you can do reg tx cheap and easy with chosen nodes.

I don't know why all the fudding.

Are glows trying to drop the price because they need to buy before USD collapse.

Fiat is the true shitcoin people need to get out of

[Anonymous No.14798848]

>>14798061
Rundown on DAG?

[Anonymous No.14799168]

>>14798513
We can all agree fiat is the ultimate shitcoin. Lightning network is still somewhat decentralized, but Lightning nodes are basically just banks with a different name. Yes there are some minor differences, but it sets the stage for another financial system controlled by (((them))). If you disagree, you are delusional. There are plenty of other crypto options out there that are more decentralized(than Lightning network) and waaaaaaaay faster. Why the fuck would anyone use Bitcoin? Once cryptocurrencies become more mainstream, we are going to see something analogous to the dotcom crash. Tons of cryptos are going to go to zero, and the only ones remaining will be the ones with the most practical functionality. There are already other cryptocurrencies that do everything Bitcoin does, but better. If you think Bitcoin will stick around because “muh first mover advantage” and “muh king shitcoin” you may want to look into what happened with pets.com. A faster, more reliable, more functional, and more energy efficient option will take its place. I cant say exactly when, but I am certain it will happen at some point in the not so distant future. I would bet my life’s savings on it.

[Anonymous No.14799181]

>>14797196
BITG
https://bitcointalk.org/index.php?topic=2827989.msg51629410#msg51629410

https://youtu.be/s3SJ2TMIXZI
https://youtu.be/OIamCXZ6CZI

[Anonymous No.14799218]

>>14797326
Powell just called it a store of value.

[Anonymous No.14799229]

Why lightning network is a bad idea even if all its issues were solved:

1. you have to set up your payment channel with on-chain transaction. if you have to deal with on-chain transactions anyway you might as well just scale up on-chain instead. if i go to a coffee shop that only have depleted lightning channels i have to make an on-chain transaction. a depleted customer channel will be that way forever unless the store decides to pay someone else through a customer's channel.

2. if someone else use your payment channel they can deplete your funds to a merchant. if there are no other channels, which is likely since otherwise your channel wouldn't be depleted, you now need another on-chain transaction to make a new channel or refund your old one. if you think this is wrong, check: https://youtu.be/pOZaLbUUZUs

3. if you have 1 BTC and open up four channels with 0.25 BTC on each channel it's impossible to send more than the unspent amount of BTC on that channel even though you own more than 0.25. likewise nobody can receive more BTC than the sum of all their channels (assuming all channels could find a path to the sender and that the right amount of BTC is available at the correct end of each channel).

4. the network will inevitably develop backbone nodes that nearly all transactions pass through (most likely just trusting each other to have the required funds to save time). this "solves" the routing problem but makes the whole thing completely centralized, just like internet is today with master backbone nodes.

5. once you put your crypto into a channel you're basically trapped in the system. it's designed so that you would never want to take it out. eventually there would be almost no in/out on the bitcoin blockchain and at that point bitcoin is essentially dead and you can be sure that there will be talks to just drop it completely in favor of some kind of issued lightning network token.

[Anonymous No.14799249]

>>14799229
6. it's possible to make solutions for micropayment channels on-chain instead. someone just needs to figure out a way for the sender to be able to construct a transaction but he cannot broadcast it, the reciver on the other hand can't change the transaction but he is allowed to broadcast it. the payment channel is then either closed by the receiver with the latest state or it is closed by a timeout with a full refund to the sender.

7. bitcoin (cash) works for payments of all sizes today. there's no reason to reinvent the wheel. we don't live forever and every year we delay crypto adaption is another year the banks will adapt to instant online global payments. you think it's hard to on-board people with crypto today? good luck if banks offer the exact same user experience as crypto. when that happens the only perk crypto has is censorship resistance and most people just don't care if banks are convenient enough.

8. [new] all big lightning nodes will be known. DDoS those and you take down the whole network since there won't be any viable paths.

TL;DR i wouldn't want to use lightning even if it already worked flawlessly with BCH, BTC, ETH, LTC and whatever else.

[Anonymous No.14799371]

>>14797227
He is right, BTC doesn't work.
Bitcoin still works just fine however, as described in the whitepaper, it has just changed ticker symbol.
BCH is Bitcoin.

[Anonymous No.14799453]

>>14799168
>but Lightning nodes are basically just banks with a different name. Yes there are some minor differences,
This is a mindlessly retarded thing to say. Stop chugging to koolaid.

[Anonymous No.14799834]

>>14797196
it's a decentralized ponzi, not a currency. You're supposed to hold it on exchange you bought it.

[Anonymous No.14799974]

>>14799453
>i defend my point with logical explanations
>you call me retarded
If you are going to try to say I am wrong, at least provide SOME reasoning. I understand you are afraid I will make you look like a moron(because I will), but we are all anonymous here. You can just slink away afterwards, free of embarrassment. Nobody will ever know that you publicly demonstrated yourself to have room temperature IQ, except for you.

[Anonymous No.14799995]

>>14797227
fast fees were like 3$ still

[Anonymous No.14800027]

>>14797196
hol up
is that a life sized toy?

[Anonymous No.14800039]

>>14797196
Embrace the true cryptocurrency of the future OP.

[Anonymous No.14800061]

>>14799974
>>i defend my point with logical explanations
You had no explanations. All you said was that LN will lead to a system controlled by (((them))). Why would a node be virtually identical to a bank?

[Anonymous No.14800066]

Once Bitcoin gets 100 USD tx fees, devs will just double the blockchain to 2MBs and all you alt fags are going to have to cry another year.

[Anonymous No.14800333]

>>14800066
if you think it's ok that they wait until 100 USD fees until they change 1 line of code you should repeat 2nd grade

[Anonymous No.14800733]

>>14800061
>a third party that holds a large quantity of a currency to facilitate transactions between peers
How is this not exactly the system we already have?

[Anonymous No.14801470]

>>14800733
the problem with banks is more to do with fractional reserve and printing money. I don't have a problem if a bank worked like node

[Anonymous No.14801501]

BTC is a joke. All it has is first mover advantage. Eth and other alts can do everything BTC can do and then some. Hopefully old man Bitcoin dies a quick death

[The nigger who fucks jannies No.14801525]

>>14797196
that's why you use litecoin for sub 2k transactions
i thought we discussed this

[Anonymous No.14801604]

>>14797196
Most based OP in the entire catalogue.

[Anonymous No.14801612]

>>14801470
Maybe YOU dont personally have a problem with it, but it still defeats the entire purpose of crypto. Decentralized peer to peer transactions. If everyone was fine with the current system minus fractional reserve, why would we use Bitcoin at all? We could(and would) just outlaw fractional reserve as a practice and go on with our lives.

[Anonymous No.14801636]

>>14797286
>store of value
>potential to go down by 50% in a matter of days
levels of retardation the human mind can barely imagine are required for this sort of justification.

[Anonymous No.14801654]

>>14797227
Are you goddamn mouth breathing retard? It doesnt scale.

Besides, this latest "bull run" was nothing but a tether pump. Backed by literally thin air.

Why do you think Trump came out and warned the fucking planet?

SHIT IS WORTHLESS SHIT THAT WILL NEVER SCALE

why arent you buying link?

[Anonymous No.14801666]

You guys are retarded with all this FUD. Go to the Nakamoto Institute website and get an adrenaline shot of Bitcoin Maximalism right to the vein.

[Anonymous No.14801671]

>>14797196
>At this point BTC is like some kind of make-believe virtual gold.
Yes and? Nobody believes in this "we're gonna change the world hurr" shit anymore, everyone is in it for easy money.

[Anonymous No.14801716]

>>14801671
If they wanted easy money and didnt sell at 14000 then they really just want to stay poor.

BTC is going to 1400 now

[Anonymous No.14801729]

>>14801654
>>14801716
>reddit spacing

[Anonymous No.14801785]

>>14801501

[Anonymous No.14801802]

>we're going to stick it to the Man! the era of oppressive governments is over since now we have this digital money that can't be controlled and tracked!
>actually all parties involved literally BEG for governments to regulate Bitcoin, everyone eagerly complies with KYC regulations to the point where it's basically impossible to buy Bitcoin without disclosing your real world identity
What did they mean by this?

[Anonymous No.14801900]

>>14801802
Nice strawman, doing illegal untracked activities was never the point.
https://www.thetimes.co.uk/article/chancellor-alistair-darling-on-brink-of-second-bailout-for-banks-n9l382mn62h

[Anonymous No.14802133]

>>14801612
You are very very misinformed on the purpose of bitcoin. The purpose of bitcoin is to sidestep government currencies. Decentralized peer to peer transactions are just the means by which bitcoin accomplishes this.

>We could(and would) just outlaw fractional reserve as a practice and go on with our lives.
We haven't, and we won't.

[Anonymous No.14802263]

>muh currency
Shut the fuck up you braindead retards. In 2008 commerce on the internet wasn't nearly as established. There was still demand for new "internet" payment methods. There's no such demand anymore but still you retards act like it's relevant. There have been lots of faster tokens out there for years and nobody cares.

Bitcoin is the first and most secure distributed ledger. All other labels like "electronic currency" or "store of value" are irrelevant nonsense made up by retards.

[Anonymous No.14802350]

>>14797196
How much does it cost to send a 6 or 7 figure sum of money using traditional methods?

Pro tip: BTC is not for poor people

[Anonymous No.14802561]

>>14801802
haven't you been hearing what craig has been saying?

[Anonymous No.14803084]

>>14802133
>sidestep government currencies
If you cant see how KYC regulations combined Lightning network could easily MAKE BITCOIN INTO A GOVERNMENT CONTROLLED CURRENCY, then you are too much of a brainlet for me to continue explaining this to you. Sure, they wouldnt be able to print more, but they could shut off anyone’s ability to participate in the economy with a click of a mouse. How is that not antithetical to Bitcoins reason for existing in the first place?
>We havent and we wont
No shit sherlock, because fractional reserve is not the root of the problem. Its some shady Jewish shit, sure, but my point is that if that were the only issue here it could very easily be solved with the current fiat system we use now. No need to throw in Bitcoin.

[Anonymous No.14803195]

>>14797196
thats only because the massive volatiity raised the demand for transactions at high costs to secure gains. as volatility declines over the long runs fees should also decline, as people overpaying for transactions run out of money

[Anonymous No.14803206]

>>14803084
>If you cant see how KYC regulations combined Lightning network could easily MAKE BITCOIN INTO A GOVERNMENT CONTROLLED CURRENCY, then you are too much of a brainlet for me to continue explaining this to you.
How would governments ever be able to enforce this? You should stop posting.

[Anonymous No.14803362]

>>14803206
Quite easily. Were you dropped on your head as a child?

[Anonymous No.14803445]

bitcoin will work when sentinle sidechain gets implemented thanks to tendermint tech, it will become anonimous fast as fuck and you will be able to pay for decentralized vpn and chat with BTC

[Anonymous No.14803514]

>>14803362
>Quite easily.
Elaborate.