Crypto is fundamentally useless

[Anonymous No.18242162]

Ignoring the fact that Bitcoin uses more power than some European nations making it basically a heat generator, there are fundamental issues with it.

1) As a currency it’s useless. Three transactions per second?! Wtf. If you cannot make large amounts of transactions with it you cannot call it a currency. “Current” refers to the movement of money.

2) As a store of value it’s quite useless too as it has no universal value. Cryptofags say USD is fake therefore use Memecoin forget that USD is the required currency to pay taxes in the US. And that Bitcoin literally needs people to believe it’s something and run programs on their computers for it to work.

Furthermore. For it to be a currency it must have a stable value. It clearly does not.

[Anonymous No.18242300]

thanks just sold 100k

[Anonymous No.18242376]

News about second wave in china and quarantine in HENAN, priced in and bullish?

[Anonymous No.18242380]

>>18242353
>pennystocks
You missed [generic popular coin] threads on the way here. It might be up to your speed.

[Anonymous No.18242386]

>>18242162
Brainlet here
Doesn't making crypto the standard currency just makes computer hardware manufacturers and the companies mining the materials needed for them the new de facto central bank and gods of the world? Wouldn't q company like AMD hold the entire nation by the balls? Doesn't make any sense. How is this different from smeltering gold or silver into coins and using that as currency? Or oil backed currency? Just seems like the finite material processed becomes graphics cards and motherboards instead

[A͏҉non͢҉ymous No.18242391]

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[Anonymous No.18242409]

>>18242162
>usd is valuable because the government says so

good luck

[Anonymous No.18242427]

>>18242386
BTC is digital gold. Are Central banks the people who produce gold mining equipment?

[Anonymous No.18242441]

>>18242409
Everything that isn't your immediate meal, cup of water, a hookers pussy, and shack you built for yourself is valuable is because some guys with guns says it is by holding it in artificial scarcity to promote stability and the existence of luxuries

[Anonymous No.18242460]

You're right that crypto is a bad investment, but you're overcomplicating things.

All of the major problems with crypto (including the extreme volatility) stem from the fact that virtually nobody actually uses it as a currency right now. Most people who own and trade crypto are speculators. The reason it has any value at all is because people are banking that someday it will be used as an actual currency. Some people are convinced that day is right around the corner but I'm not convinced it'll come for at least a decade, maybe longer. Maybe never.

Until that day comes, sinking any significant amount of money into bitcoin is just gambling.

[Anonymous No.18242483]

>>18242427
But that does not make sense. Nobody could produce gold, nobody is a successful alchemist. It's a result of millions of years of chemical processes. BTC is created by computer hardware like how gold backed currency is "created" by gold. Without the hardware, there is no btc. You can't just sit a hole in the ground and find it. It is not the base value everything derives from like gold, for btc that is hardware, or the materials that make it up.

[Anonymous No.18242518]

>>18242483
Law of mathematics applied in cryptography are older than earth

[Anonymous No.18242548]

>>18242427
>>18242483
Gold backed currency=government controls gold supply and uses it to back the dollar to give it value by force
BTC=computer manafacturers contols hardware supply used to produce the digital currency, faith in value is based on? Silicon? That is way too plentiful and singular usage to work. AMD board members and their private security? Just seems like a more retarded fiat currency. Held up by literal 1s, 0s, and sand

[Anonymous No.18242560]

>>18242162
Dude, WHAT IS THE POINT OF OWNING CRYPTO? For fuck sake all of this is an investment because we deep down want to get rich and have something other people don't have. Are you seriously in it for the tech?? Nobody cares! Nobody cares when toilet paper is the least fucking important thing to have in a depression, but they fomo buy it anyway. Nobody gives a shit you can make a better chicken sandwich at home in 15 minutes, they prefer to stab each other for the fucking limited Popeyes sandwich. Rick and Morty McDonald's sauce too, the list goes on and on. When the absolute scarcity of Bitcoin is realized by the idiots of the world, it will be insanity. People will be fucking looting landfills looking for hard drives, there will be home invasions every day in every city specifically looking for private keys. The world has NEVER SEEN ANYTHING LIKE THIS. YOU CAN'T MAKE MORE OF IT. JESUS FUCKING CHRIST. Don't try to be too smart about this, just fucking get in

[Anonymous No.18242561]

>>18242460
Governments and central banks just wouldn't let it happen.
Besides wanting power, they do need to have some control over the money supply to steer the economy in the right direction, devaluing the currency, changing interest rates etc.
BTC as a currency is a fantasy.

[Anonymous No.18242573]

>>18242518
I can do the same calculations theoretically on a very long piece of paper. The process that allows these calculations to occur still requires physical material, and the availability of this material becomes the new base value, not the currency of BTC

[Anonymous No.18242578]

>>18242548
You lack basic understandings of economics. If it ever became worth it for and to board all their produced hardware to mine the tiny amount of BTC left to mine, that means people wouldn't have computers to do stuff on, including use BTC it would crash.

[Anonymous No.18242588]

>>18242548
yes, but what backs golds value?
You realise currency is just an mutual agreement of value, it has no 'intrinsic' value.

[Anonymous No.18242591]

>>18242573
You're not making a point.

[Anonymous No.18242713]

>>18242578
So you're basing the foundational integrity of a worldwide economic system on the judgment of private computer companies? This would only work if computer hardware production was controlled by governments and with that would just function like how gold backed currency worked but it'll be more unstable because of the more dual nature the use of computers warrents
>>18242588
I know that, "gold backed" currency is a relatively recent creation built upon centuries of predictable behavior, but it was not chosen randomly. As long as historical societies existed, we liked and sought after rare shiney things disconnected from it being a government enforced value as long as basic food, water ,shelter needs were met. A centralized force can dissipate and people will still look for gold jewelery in the chaos, we know this already. Using that as the base value for your currency is exactly the same as using another highly sought after material in the modern age like computers. How is it any better

[Anonymous No.18242721]

>>18242162
this desu

[Anonymous No.18242849]

>>18242162
Don't buy any then. Cry less about shit that doesn't concern you also bitch.

[Anonymous No.18242927]

you're retarded if you think Bitcoin only does 3 tx's per second.

[Anonymous No.18242950]

>>18242713
What is your objection with paper money?

[Anonymous No.18243019]

>>18242162
>Three transactions per second?!
Yikes

I'll stick with buying CKB

[Anonymous No.18243158]

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[Anonymous No.18243167]

>>18242162
xrp is a supra national currency with none of the problems u described. learn 2 xrp mate, all u do is u reveal ur ignorance