Bitcoin Mania

[Anonymous No.18840578]

Revisits sub 1k as miners capitulate one after the other like flies.

[Anonymous No.18840851]

>>18840578
>miners capitulate
if it's profitable to mine at the current hashrate for 9000 bucks, worst case is 4.5k, at some point buy pressure will ensure a new point of equilibrium
you can just switch off ASICs temporarily if they are not profitable
keep also in mind that sell pressure is disappearing, just look at dormant addresses, so the odds of a death spiral is like 1/10 (and even if this happen, worst case is like 4k)

[Anonymous No.18841482]

>>18840578
possible, my 9k short will save me from this disgrace tho

[Anonymous No.18841549]

>>18840851
the problem is the following:
price is below $9k, miner breakeven is above $7k for 10nm miners around $5k for a lot and little below $4k for newest 7nm miners
hashrate is near ath
price drops, miners turn off their machines at first
mempool gets congested nobody can move in and out of exchanges
people panic
price drops more
more miners turn off their machines
more congestion
fees skyrocket
more people panic more selling
and so on, until only the strongest of hands are left probably around $1k to $3k

and that is an optimistic scenario because it takes 2 weeks for difficulty to adjust and start getting back to normal.

[Anonymous No.18841564]

>>18841549
also i think the real difference between $5k and $1k is what the entire global market is doing if the stock market has a meltdown it's $1k or triple digits.

[Anonymous No.18841602]

>>18841549

Anyone who knows enough to move BTC out of an exchange is not going to panic about memepool

[Anonymous No.18841616]

>>18841564

We already know what BTC does in a stock market crash. Goes down 60%. Even more than silver. It's completely worthless.

[Anonymous No.18841645]

>>18840578
Its going to keep going bros.

That giant BTC mining farm in Texas is going to be bigger then even Bitmains stuff. The bubble never ends even if it is dinosaur tech

[Anonymous No.18841666]

>>18840578
I can't wait to scoop up 80 BTC for $1K a piece :)

[Anonymous No.18841685]

>>18841549
>>18841549
God, I really fucking hope you are right bro. But I doubt it. This shitmarket is totally manipulated and makes absolutely no sense at all

[Anonymous No.18841735]

>>18841616
it's not bitcoins fault that idiots have weak hands and are prone to panic.

[Anonymous No.18841747]

>>18841666
Too many people wanting that, so we will only crash to 1k, then 100k.

[Anonymous No.18841763]

>>18841685
my bullish scenario was going to $14k before halving and drop back to $9k into and after the halving.
that however is running very very late i don't think it will happen anymore.
i think we are either heading to the biggest nothingburger crab halving or a disaster.

[Anonymous No.18841767]

>>18841645
>>18841735
>>18841747
>this cope

[Anonymous No.18841785]

>my bullish scenario

[Anonymous No.18841818]

>>18841735

People sell, not because they have "weak hands," but because they know that BTC is a scam and a ponzi scheme. It got taken over by Blockstream, banks, and financial institutions early on. The real devs all migrated to BCH. The technology of BTC is so primitive that it can't scale with even 0.01% of the population without breaking down. Whales know this. That's why it's been a pump and dump from $3000-$10,000 for three full years now without going anywhere. Everybody knows there is no long-term future in BTC except for the naive normies; but when they get conned this time, they won't come back. BTC won't drop to $3000 this time; it simply will go to zero.

[Anonymous No.18841842]

>>18841735

People sell, not because they have "weak hands," but because they know that BTC is a scam and a ponzi scheme. It got taken over by Blockstream, banks, and financial institutions early on. The real devs all migrated to BCH. The technology of BTC is so primitive that it can't scale with even 0.01% of the population without breaking down. Whales know this. That's why it's been a pump and dump from $3000-$10,000 for three full years now without going anywhere. Everybody knows there is no long-term future in BTC except for the naive normies; but when they get conned this time, they won't come back. BTC won't drop to $3000 this time; it simply will go to zero.

Contrariwise, people held on to gold during the stock market crash because they truly had confidence in it.

[Anonymous No.18841850]

>>18841785
lol you utter brainlet. you can't just have one scenario. you have to plan ahead be ready for anything. have strategies for any outcome!
i'm personally ready for btc going to $100k overnight at all times. but i the meanwhile i'm ready for a disastrous halving also.

[Anonymous No.18841866]

>>18840578
Bottom is in you retard. Enjoy buying back in at 20k.

[Anonymous No.18841881]

>i'm personally ready for btc going to $100k overnight at all times

[Anonymous No.18841900]

>>18841866

The whales will dump BTC long before $20,000. That will trigger a series of stop-loss orders that will bring about one of the quickest and most catastrophic losses of wealth in human history.

[Anonymous No.18841906]

>Enjoy buying back in at 20k.

[Anonymous No.18841913]

>>18841842
your idiotic narrative falls apart on the examination of multi-year wallet balance ages which are going UP

[Anonymous No.18841938]

>>18841913
>bagholders bagholding
>ok this is based

[Anonymous No.18841939]

>>18841767
>>18841785
>>18841881
>>18841906
The board destroyer

[Anonymous No.18841960]

>>18841900
>The whales will ...
*insert random shitcoiner wankfiction*
meh you have no clue what they will do but most of the bitcoins in existence haven't moved in like 5 years.
only weak hands and idiots are really selling here.

[Anonymous No.18841963]

>>18841939
Seriously, only an American chimp would be this obnoxious

[Anonymous No.18841969]

>>18841842
>The real devs all migrated to BCH

[Anonymous No.18841974]

>>18841735
How do you expect mass adoption of your memecoins without exposing it to the risk that retails is going to bail at the first sign of trouble and crash the price

[Anonymous No.18841976]

>>18841913

Explain to me how you think BTC can possibly go up any further. The narrative is that it will reach the market-cap of gold and so be $100,000 a coin. That's how all the moonboys get poor normal fools to part with their money. But it can't even scale for 0.01% of the population without breaking down. It does not have the capacity to support more than a few hundred thousand active users. All the real devs, knowing this, left long ago for BCH--they got pushed out by corrupt institutions. BTC is a cult that censors all criticism. Once normies realize what is going on, and after the next dump occurs, who is ever going to touch such a toxic asset again?

[Anonymous No.18842012]

>>18841974
the solution is simple over time the market cap grows to what gold has and settles the fuck down volatility greatly decreases and risks (also rewards) associated with holding bitcoin decrease a lot. until that enjoy the wild ride!
>Explain to me how you think BTC can possibly go up any further.
very easily.

[Anonymous No.18842025]

>>18841976
Did you sell at 7k and got left behind?

SAD!

[Anonymous No.18842033]

>>18841976
>BTC is a cult that censors all criticism.
lol... is that what you think? man you should got to north korea or something.

[Anonymous No.18842053]

>>18842025

This is literally the only argument which moonboys have. "BTC went up before, ergo BTC is going to go up forever, haha, I bet you don't have any BTC, you lose."

[Anonymous No.18842065]

>>18842053
pic related is everyone that sold

LMFAO!!!

[Anonymous No.18842079]

People who bought btc before 2017 were speculators at best.

Anyone who buys bitcoin now is a certifiable idiot

[Anonymous No.18842090]

>>18842033

You can read about it here.

https://medium.com/@johnblocke/r-bitcoin-censorship-revisited-58d5b1bdcd64

The fact that the original devs of Bitcoin were pushed out by the Blockstream crowd is well known.

[Anonymous No.18842139]

>>18842053
it will not go up forever nothing does but it will most likely go to $1mil before going to $0.
altcoiners are impatient as fuck. most of them are also retarded some have fair criticism but all of them share the same basic traits: don't understand consensus and can't fucking wait and see.

[Anonymous No.18842159]

>>18842090
there have been roughly 600 bitcoin devs and they pushed out 1 but didn't actually push him out either just revoked his commit right after he compromised himself in a silly manner. nothing stopping anyone from doing a pull request including gavin.

[Anonymous No.18842177]

>>18842090
also who the fuck cares about reddit? i can't even... github is a different story.

[Anonymous No.18842191]

>>18842139

It's impossible for BTC to go even to $30,000. As I said before, it can't even scale for transactions with more than a few hundred thousand active users (about 0.01% of the world population). Satoshi Nakamoto intended the technology to keep scaling, but his project was captured by banks and financial institutions early on (look into Blockstream) and hindered from doing so. In response, the original devs left to create BCH. The idea that BTC can go to $1 million or even $100,000 is based upon the notion that it can achieve a similar market-cap with gold. But as the technology is fundamentally primitive and broken and cannot scale, that will not happen. It will crash to the earth when its flaws become commonly known. It rises only by moonboy hype and technological ignorance. There is a reason why the mainstream media are always pushing BTC on us.

[Anonymous No.18842195]

>>18840578
>flowers the grow everywhere by themselves are comparable to crypto currency

[Anonymous No.18842235]

>>18842191
>It's impossible for BTC to go even to $30,000
how man times i have heard this over the years with $100 and $200 and $1000... so tiresome.

[Anonymous No.18842243]

>>18842159

If you mean Gavin Andresen, he was given direct successorship to the project by Satoshi Nakamoto himself, and Mike Hearn was also pushed out. Even Andreas Antonopoulos once acknowledged the problems I'm speaking of before BTC went mainstream and he became its most prominent figurehead.

[Anonymous No.18842254]

>>18842243

[Anonymous No.18842304]

>>18842243
yeah if you don't like it fork just make sure you fork with consensus or you just making an other shitcoin.
i was pro unlimited until the fork. but a 10% minority shitfork is worthless and not bitcoin. a lot has become clear in recent years. and yes some aspects of bitcoin are regrettable. but it's the actual original consensus. and if it survives this halving it will be stronger than ever.

[Anonymous No.18842305]

>>18842235

This is a facile argument. If the fundamentals don't work, there is simply no way for Bitcoin to go higher. The intrinsic value it was originally intended to have was to let every person be his own private bank--to send and receive transactions instantly, costlessly, and without the fear of government confiscation. This was a good idea, and is why the first investors got rich. But if you make transaction exorbitant and impossible, which it _must_ become with scale, then BTC no longer has any intrinsic value. It _will_ crash. There is a reason why it never gets above $10,000 and always promptly crashes at that point. It's a cycle of moonboy pumping and whale dumping, and normies are the ones who get left holding the bag.

[Anonymous No.18842374]

>>18842305
>If the fundamentals don't work, there is simply no way for Bitcoin to go higher.
same has been said before and behold... i'm not bearish on bitcoin tech wise. it works. it has more potential than any shitfork or them altogether but it's incentive structure is dependent on market valuation continuously going up and is vulnerable to the halving event. more than the shitforks.

as for scaling there is no issue with bitcoin scaling. as for the devs of blockstream bein reactionist idiots that's an issue but i don1t think bitcoin gives a fuck about blockstream that's a false narrative. if blockstream was blown the fuck up and disappeared with barely a carbon trace bitcoin would not give a single fuck. they are more replaceable than car tires.

[Anonymous No.18842429]

>>18842374

SegWit means that people will paying through the nose in fees and waiting for days to complete transactions if even a few percent of the world population adopt BTC. Google this, I can promise you I'm telling the truth.

[Anonymous No.18842449]

>>18842305
>Normies get left holding the bag
So what you’re saying is it becomes more decentralized?

[Anonymous No.18842470]

>>18841645
Newton himself owned nearly £22,000 in South Sea stock in 1722, but it is not known how much he lost, if anything.[39]

[Anonymous No.18842500]

>>18842243
Gavin wasn't banned. Merely had his commit access (think admin) revoked after many months of inactivity and publicly endorsing a scammer.

He can still contribute like any other dev.

[Anonymous No.18842504]

>>18842429
not really. i mean it's inevitable for bitcoin to increase the base block size. but there is no rush. effective block size limit is now around 4mb taproot makes it possible to have more complex smart contracts on the same block size. ln makes it possible to have millions of tx/sec easily with the same blocksize.
pruning makes it possible to run full nodes on a smart phone and barely taking up more than 200mb space which opens up the possibility of larger blocks without introducing undue global burden.
lightning makes it possible to use it for everyday spending instead of a credit card.
bitcoin is doing well so long the market valuation stays up it will have no problems. and normally it adjusts over time to downtrends also.
the next 4 weeks will be interesting tho.

[Anonymous No.18842523]

>>18840578
I just think the powers that be are devastated by the fact a bunch of incels have all these coins and there is nothing that can be done. Bitcoin is divine providence.

[Anonymous No.18842562]

>>18842523
>the fact a bunch of incels have all these coins and there is nothing that can be done
You are retarded as fuck. No incels control the market. Neither do early adopters. It's banks and other big institutions
Not even 1000 BTC move the market significantly

[Anonymous No.18842597]

>>18840851
>you can just switch off ASICs temporarily if they are not profitable
Most of these miners are large facilities with a lot of overhead, they will hemorrhage cash with their ASICs off. Nevermind some of the largest have taken out loans using Bitcoin as collateral to expand their operations. You can just guess what will happen to them if the price goes down.

[Anonymous No.18842605]

>>18842504

Lightning Network will never allow BTC to scale. You need to buy a Rasberry Pi for $100, do some coding to set up the node, set up a channel for everyone you choose to make micropayments with, and so forth. Normies won't get on board with that. It's hard enough to get them to understand private keys.

[Anonymous No.18842793]

>>18842605
Wrong

[Anonymous No.18842908]

Yes yes crash coming sell while you can

[Anonymous No.18842929]

>>18842908

No need to sell outright. Just set a stop-limit order on your Bitcoin and get ready to cash it in for gold and gold stocks if it doesn't pump. Even if it does pump, sell before the crash and buy gold. It's going nowhere.

[Anonymous No.18842997]

>>18841549
>>18840851
>price is below $9k, miner breakeven is above $7k for 10nm miners around $5k for a lot and little below $4k for newest 7nm miners hashrate is near ath
Have to assume those #s are right... none of us casually run a mining farm but I looked online and that's what it says and it matches with what I've seen before.

so that means btc is profitable to mine at 3.8k for the absolute latest ASICs that means the cost floor to mine after halving is 7.6k per bitcoin which coincidentally is a little above what market makers have been habituating as fair value
... but if that is also the case that means there's going to be a big purge of old mining equipment and likely volatility downwards. no death spiral though should be an orderly exit.

[Anonymous No.18843030]

>>18842929
I’m a hodler looking for another nice opportunity to accumulate. Weak hands feel free to sell

[Anonymous No.18843055]

>>18842605
>You need to buy a Rasberry Pi for $100
or have a smart phone, you don't need to have a node continuously runnig if you are only spending not receiving payments. you have no risk associated with downtime.

[Anonymous No.18843071]

>>18840578
So you using real money to trade BTC over gov supervision ? BTC is not anonymous electronic cash as it meant to be from the beginning,,, so whats a point? You need electronic daddy, that control how much ice cream, you can buy?
Real value is all we, not numbers on the screen .

[Anonymous No.18843080]

>>18842997
yes about 30-40% of mining power will fall off the grid at halving. which will cause a congestion. easily noticeable by everyone. coupled with a good old s&p crash and a bit of panic selling you have a nasty dive in the picture.

[Anonymous No.18843142]

I just bought 5k british Bitcoins. I hope i didn't dun goofed

[Anonymous No.18843149]

>>18843030

Just remember that the hodler mindset is dangerous. You're sitting pretty on your Bitcoins that you bought up cheap, and your greed is telling you that the price will go up. You have the luxury of fantasizing. But think about it from the point of view of a normie with no exposure to Bitcoin, contemplating buying in at $12,000, $15,000, $20,000, after what happened last time. He simply won't have the stomach to take the plunge, and he would be a fool to do so.

[Anonymous No.18843280]

>>18841549
If people are buying mined ETH at a premium they're probably doing the same with BTC. If crypto really does become a hedge we could see the price become less effected by mining activity.

[Anonymous No.18843335]

>>18843149
Bitcoin at $12k-$20k is till cheap compared to the upside. Bitcoin is a way out of the financial system. A “high yield” savings account gets you what 1%-2% now? It’s going to go further down as we approach negative interest rates. Bitcoin is risky yes but if you’re young and can stomach the risk; it is a comfy place to park money long term regardless of short term FUD.

[Anonymous No.18843355]

>>18841602
The entire leveraged market is within exchanges.

Sell, and buy at 1k.

[Anonymous No.18843411]

>>18841842

[Anonymous No.18843412]

>>18843335

When people realize that Bitcoin grinds to a halt when even a fractional amount of the world-population adopts it, they will run out of it, because they will see that it has no intrinsic value. I know somebody who paid an $11 fee to make a transaction even today. Bitcoin is driven by greed. Set stop-losses and be prepared to get out before it's too late. Gold is the only sure bet.

[Anonymous No.18843512]

>>18842243
>Gavin CIAndressen

[Anonymous No.18843612]

>>18843512

Nobody on /biz/ is going to get lucky, Chimpette poster.

https://www.youtube.com/watch?v=he-n_XCWJhw

[Anonymous No.18843642]

>>18842562
Banks and institutions control fiat valuations, the amount of BTC are the same. Early investors dont fall for it. 1 BTC = 1 BTC

having said that, we are going back to 1k before 100k

[Anonymous No.18843677]

>>18843412
>$11
Which is nothing if you want to move $100k in a way that no other technology will allow you to move $100k

In other words, Bitcoin attracts rich people

[Anonymous No.18843683]

>>18843355
you will fomo at 10k in two weeks, you stupid faggot.

[Anonymous No.18843730]

>>18843280
the price is not affected by mining activity until there is no mass miner capitulation.

in this regard bch is better, large block mean all tx gets included in 2 blocks time and daa means no chain death.
but they sacrificed too much for this durability. it was really shameful.

[Anonymous No.18843754]

>>18843677

And rich people are a fraction of the world's population. Which means that you don't get widespread adoption, which means that moonboys get nothing.

[Anonymous No.18843783]

>>18843683

Nobody has any reason to FOMO into Bitcoin. Gold is definitely going to double. Even normies like Bank of America are saying so now. Whereas Bitcoin is very unlikely even to reach to its all-time high of $20,000 again; it hasn't done so before, and it crashes down at half the price on a regular basis. In other words, when you analyze risk vs reward there is no reason whatsoever not to put your money into gold or the GDX and GDXJ instead.

[Anonymous No.18843867]

>>18843783

[Anonymous No.18843922]

>>18843677
Yeah nobody is going to use Bitcoin as an every day currency when a simple instantaneous purchase like a coffee requires a huge expedited processing fee. wtf was Satoshi thinking

[Anonymous No.18843942]

>>18843867

The Dotcom and Japanese asset price bubbles would have looked exactly like this before they burst.

Most of the people who made money from Bitcoin got in before 2017. Anybody who buys into Bitcoin now is hoping, and taking the risk, that it's going to go to a price which it crashed down 90% from before and actually hold there. And even then they only double their money, a thing which they can more than do with gold at a near certainty.

[Anonymous No.18844035]

btw too many people talks about miner capitulation while ignoring that miners are obviously expecting this
it's literally their job, and they already did the math way in advance...
it's not like they wake up on mid may after lethargy and start screaming while everything is on fire...

[Anonymous No.18844067]

>>18843942
go and short bitcoin with 100x leverage then u big mouth. all you do is paint black.

[Anonymous No.18844101]

>>18844067

Nobody knows the exact day or time that a bubble will burst, simply that it's dangeroys to stay in it.

[Anonymous No.18844122]

>>18844067

Nobody knows the exact day or time that a bubble will burst, simply that it's dangerous to stay in it.

[Anonymous No.18844149]

>>18843922
It’s impossible right now for a decentralized network like Bitcoin to compete with a centralized like VISA. Pros and cons to both. The value of Bitcoin to people comes from other areas. It does not require a trusted third-party. It

[Anonymous No.18844176]

>>18844122
>11 years, still alive
>growing stronger every day
it's not risky, BTC is here to stay
it's volatile, yes, cause there are almost no regulations nor circuit breakers
but once marketcap will be several in the trillions area it will be more stable...

[Anonymous No.18844193]

>>18844122
Ok Peter

[Anonymous No.18844208]

>>18844149
holy fuck the retardation, BTC is not in a competition with VISA
you are not swiping your credit card to move around few million dollar without banks/govs approval

[Anonymous No.18844215]

>On the Instability of Bitcoin Without the Block Reward
https://www.cs.princeton.edu/~arvindn/publications/mining_CCS.pdf
Princeton university

>Beyond the doomsday
economics of “proof-of work” in cryptocurrencies
Monetary and Economic Department

https://www.bis.org/publ/work765.pdf

"Second, the transaction market cannot generate an adequate level of
“mining” income via fees as users free-ride on the fees of other transactions in a block and in the
subsequent blockchain. Instead, newly minted bitcoins, known as block rewards, have made up the bulk
of mining income to date. Looking ahead, these two limitations imply that liquidity is set to fall dramatically
as these block rewards are phased out. Simple calculations suggest that once block rewards are zero, it
could take months before a Bitcoin payment is final, unless new technologies are deployed to speed up
payment finality. Second-layer solutions such as the Lightning Network might help, but the only
fundamental remedy would be to depart from proof-of-work, which would probably require some form
of social coordination or institutionalisation."

>Written by phd´s in computer science and economics. Bitcoiners can’t refute this fud, lol. These academic papers prove that proof of work will not work longterm.
Another weakness is the lack of on chain governance, which results in huge governance and coordination problems, and limits innovation.

[Anonymous No.18844232]

>>18844208
That’s my point

[Anonymous No.18844266]

Thanks, just sold 100k.

[Anonymous No.18844276]

>>18844215
Yes because a government fiat funded university knows what’s best for Bitcoin

[Anonymous No.18844295]

>>18844215
>Bank for International Settlements

[Anonymous No.18844362]

>>18844215
BIS is literally shitting their pants because BTC makes them obsolete
https://web.archive.org/web/20180329201029/https://www.ft.com/content/78bf5612-0b1a-11e8-839d-41ca06376bf2

[Anonymous No.18844435]

>>18842012
Bitcoin will always be extremely volatile no matter how big the marketcap becomes. It´s extremely fragile to bad news and panic selling since it has no real compelling use case that it does better than other options. Holding bitcoin will always comes with uncertianty and fear, the whales know this, so it´s extremely volatile no matter what.

[Anonymous No.18844797]

>>18844176

Market-cap won't solve the fundamental flaws in the technology.

I don't believe it was in a bubble until 2016 or 2017, because it offered something unique and important before then, but now it most definitely is.

>>18844193

Don't count your chickens before they hatch.

[Anonymous No.18844944]

>>18843335
no, it´s not a comfy place to park money long term. Proof of work is fundamentally flawed, eteherum understands this and thats why they are switching to POS. Bitcoin is 100% gonna fail in the long term. You´re a brainlet if you think otherwise.

[Anonymous No.18844994]

>>18844276

BTC was captured and sabotaged by banks and financial interests early in its development; look into Blockstream.

[Anonymous No.18845034]

>>18843783
Nobody wants to hold gold. The future is digital: gold takes up space. Where the fuck am I going to store it in my apartment? I sold my Blu-ray collection years ago.

[Anonymous No.18845063]

>>18844276
>>18844295
>>18844362

You moonboys can´t take down their arguments so you attack the messenger instead. The absolute state of buttcoiners. There are more academic papers written on the subject of block rewards, by people with no skin in the game. You guys think transaction fees will be enough to keep mining profitable? haha. Not to mention the likleyhood of selfish mining when block rewards are gone.

[Anonymous No.18845071]

>>18840578
>miners capitulate

this is the funniest LARP. People around the world are dying for the chance to get in on mining. Bitcoin Miners are instantly replaced. The halving will only solidify this.

[Anonymous No.18845083]

>>18845034

You set up an account on GoldMoney or BullionVault and pay exactly the same trading fees that you do on Coinbase (0.50%). You buy real physical gold, silver, platinum, and palladium, instantly, with the click of a button. You have the ability to register bars in your name, and buy and sell with as little as a gram of gold. It's that simple. There is even a credit card which you can pay for things with in gold grams.

[Anonymous No.18845226]

>>18844435
>It´s extremely fragile to bad news and panic selling
that's just the result of low market cap. the more people hold bitcoin and the more money sits in it the less volatile it becomes. you can already see this bitcoin taking months to do the same dance it did in weeks years ago. soon it will be years.

[Anonymous No.18845236]

>>18843754
Top 1% of people has more money than the bottom 50% , why do you need widespread adoption if you have the 1%, which would also mean less traffic on the network

[Anonymous No.18845245]

>>18845071
Miners who survive:
-giant chinese/texas mining farms that are built in/on/by powerplants/hydrodams etc. can afford latest mining tech has capital to always upgrade
the lone ranger who has 'free' electricity - mines at a loss but doesnt care because they are stealing electricity. (think shared housing, someone plugging one in at their work etc)
-moonboys who mine at a loss thinking they'll get 100k a bitcoin

everyone else will dip out.
hashing power will become even more centralized and controlled by chinese interests.

[Anonymous No.18845254]

>>18843754
>And rich people are a fraction of the world's population
And rich people have most of the money.

[Anonymous No.18845266]

>>18845063
>You guys think transaction fees will be enough to keep mining profitable?
we will see in 50 years i guess.

[Anonymous No.18845270]

>>18845083
Go to bed, Schiff.

[Anonymous No.18845318]

>>18845236
>>18845254

The problem is that you're not thinking this through. The only reason why BTC has the price it has, is because moonboy hype is causing enough greedy people to think that it might achieve widespread adoption some day, and become the new system of money. As soon as that hope dies away, Bitcoin has nothing. Hence there will be no reason for rich people to buy it. It will offer rich people nothing without such an incentive. If rich people want to preserve their wealth, they will just buy gold.

[Anonymous No.18845810]

>>18845318
lol btc is valued highly because it's the only trustless permissionless publicly auditable yet secure asset with a hard cap on supply. the only byzantine fault tolerant distributed ledger based peer to peer payment network.

there is no other reason why bitcoin is valued as it is valued. everything else is just nocoiner cope.

[Anonymous No.18845864]

>>18845810

BCH does what BTC should do and what it was intended to do by Satoshi. I don't invest recommending much in it, because, when BTC crashes, all crypto will crash to the ground with it. But you're wrong to think that there's something uniquely valuable about BTC. It's primitive, flawed, and, by its fundamental design, can never achieve even a minute amount of widespread adoption.

[Anonymous No.18845996]

>>18845864
>BCH does
but it doesn't that's my point. it could have but it failed to do so and it doesn't. you shitcoiner fucks just don't get it.

[Anonymous No.18846038]

>>18845810
this
my entire networth is in btc and I keep buying my monthly quota each month because that's my saving account
I can move around in different continents with an sd card in my pocket and move hundreds thousand of dollars with me
I can send intercontinental tx during the weekend, and zero bullshit like flagged transactions or bank wire recalls or tax authorities
waiting 20 minutes for a double confirmed tx is good enough, how many transactions per year are you doing with btc? I did less than 20 transactions in 4 years, and I repeat it again, my entire networth is in BTC
and let's be very clear with delusional bcashies >>18845864
you just don't want to buy a coffee with btc, why the hell do you want to be tracked from your daily tx while going to the pharmacy?
just withdraw some cash from the atm and use physical cash, the only true anonymous form of payment
if you don't care about privacy then just swipe your visa credit card, why the hell do you want to bloat a distributed public ledger for your shitty starbuck frappuccino?

[Anonymous No.18846042]

>>18845996
and like i said i full and vocally supported bitcoin unlimited before the fork. going through with a non-consensus shitfork that failed to secure community and miner support is childish immature and borderline malicious.

[Anonymous No.18846070]

>>18841645
>dinosaur tech

solar/thermal I heard. custom chip fab, the works. Peter Theil isn't known for half-assed work

[Anonymous No.18846083]

>>18845996

Nothing will change until the BTC bubble bursts. Hence why I don't invest more than a token amount of money in crypto. When the house of cards topples over, a genuinely worthwhile crypto will take centre stage, whether it's BCH, XMR, or something else. The only coin worth holding for now is a gold one.

[Anonymous No.18846135]

>>18845864
What, so you are a bcash bagholder

[Anonymous No.18846173]

>>18846135

If 99.5% of my money in gold, 0.25% in XMR and 0.25% in BCH makes me a bag-holder, then yes.

[Anonymous No.18846177]

[Anonymous No.18846207]

>>18846083
i wouldn't expect it for an other decade.
not until bitcoin fulfilled it's current potential at least. there will be no moving on till then.

[Anonymous No.18846222]

>>18846173
if you are such an avid bch holder tell me about the current state of the dev tax debacle! i don1T follow the news but the last time i thought about buying some bch there was this retarded idea implemented already and i was like hell no shit is fucked.

[Anonymous No.18846238]

>>18846083
>The only coin worth holding for now is a gold one.
>just baghold 40 years just to beat inflation bro (and hope you are not born in the wrong epoch)
https://inflationdata.com/inflation/images/charts/Gold/Gold_inflation_chart.htm

[Anonymous No.18846246]

>>18842597
>You can just guess what will happen to them if the price goes down.
They go insolvent and their wildly depreciated assets are auctioned off to someone who isn't leveraged to their eyeballs. Did you think a bank would just toss the datacenter into a landfill?

[Anonymous No.18846275]

>>18846238

Gold is going to $3000, at minimum, by the end of the year. Even a mainstream institution like Bank of America is saying this. You're going to see fireworks soon.

[Anonymous No.18846303]

>>18846275
take your pills skizo, nobody is buying shiny rocks anymore
s&p has better returns and after the next (slow and painful) dip, as soon as US economy restarts, everybody is going all in

[Anonymous No.18846306]

>>18846222

I'm not avid, so I can't tell you anything about it. I know just enough to be willing to put a fractional amount of gambling money into it and put my coins in cold storage for years just in case it does replace BTC.

[Anonymous No.18846336]

>>18846303

The U. S. is done. There has never been a bubble or an economic collapse like this one in all of human history. The shock is only just setting in. You're either going to see deflation worse than the Great Depression, or hyperinflation worse than Zimbabwe or Venezuela. In either case, gold is historically shown to win.

[Anonymous No.18846370]

>>18846336
imagine betting against the only world superpower
USD should hyperinflate against what? Mexican pesos?
holy fuck the retardation

[Anonymous No.18846454]

>>18846306
i used to trade bch/btc buy at 0.03 sell at 0.05 rinse and repeat. it was sort of a fallback scenario. had at least as many bch as btc. then this shit happened and i don't feel buying bch anymore until this retardedness blows over with some finality. as far as i can tell they implemented the dev tax but maybe hasn't been activated yet?
so patiently waiting for them to fork it the fuck out. i don't really believe in bch anyhow i acknowledge the development that was done and the alternate scaling testnet thing but there are limits to everything. i only really lose my temper when some retarded fuck starts raving about it being the "real bitcoin".

[Anonymous No.18846567]

>>18846370

You're delusional if you think you think the U. S. can't collapse. Empires which were infinitely more respectable than yours have done so time and time again throughout history. There is no possible way for you to avoid either hyperdeflation or hyperinflation now. The biggest bubble in human history was just pricked by the sharpest pin in human history. Either the black hole of debt, which is now in the quadrillions, swallows you up, or you print your currency into oblivion to cope with it. Why do you think Russia, China, Turkey, and other nations have been hoarding gold since 2008? They knew what was coming.

>>18846454

I'm keeping mine for 5-10 years; I don't even check the price, it's simply a small speculative bet and an insurance policy. I intend to make my money with gold-mining stocks and precious metals, so what happens in the short-term to the crypto market doesn't concern me.

[Anonymous No.18846864]

>>18846567
>you, implying
I'm a yurofag, but you really have to be brainwashed to think other countries will do better than US, especially EU which is fucked beyond imagination with ECB refusing to be a central bank

[Anonymous No.18847317]

>>18846864

Romans, Ottomans, British, The Khanate, what makes the American Empire the exception to history?

[Anonymous No.18847392]

>>18846336
Shaddap, poo.

[Anonymous No.18847411]

>>18840578
I love these fud threads, it’s fun to watch the same arguments get regurgitated for years.

Just had lunch with the head of IBM Blockchain recently and they expect BTC to be worth at least a quarter million apiece by 2050 because it’s viewed as a store of wealth by crypto investors. Stay mad goldcucks.

[Anonymous No.18847429]

>>18847411
lmao the delusion

[Anonymous No.18847480]

>>18847411

This is how the scam works. BTC price crashes down to $3000. Moonboys like this hype new investors into buying in with tales of million-dollar Bitcoin. Price gets pushed up to $9000 or $10,000. Pump is proceded by a dump; normies get left holding the bag. Rinse and repeat, year after year.

[Anonymous No.18847548]

>>18847317
We by and large help out countries and regulate free trade while the others you mentioned just raped & pillaged & taxed

[Anonymous No.18847652]

>>18847317
Jews

[Anonymous No.18847676]

>>18847548

You enslave the rest of the world by forcing them to take your worthless paper dollars. Developing nations are severely hamstringed by this; you do nothing but consume their resources with your worthless paper, while producing almost no real value of your own. You make oil-prices artificially high to prop up the petrodollar and the U. S. oil industry. You invade any country which rebels against your evil system. You export filth and degeneracy all over the world.

Do you know what Britain's rate of taxation was when America rebelled against it--about 1 or 2%. Compare that with the economic slavery which your own government imposes on you, and which you impose on the world. Both Rome and Britain built up the countries they conquered; you impose financial servitude on humanity. Britain genuinely imposed free trade on the world; you impose the dollar, and rule by the Federal Reserve.

[Anonymous No.18847745]

Fucking faggots in this thread. It's like reddit minus the PreP

[Anonymous No.18847786]

>>18847676
whatever you say, gold might be up in 100 years but we will be all dead
things are not going to change for the next 10/20 years, so buy the S&P dip, hedge with crypto or stay mad and poor

[Anonymous No.18848574]

>>18847786
>we will all be dead
brainlet take. you need to be thinking about your grandchildren.

[Anonymous No.18848648]

>>18841747

goddamn you bearlets are gonna get rinsed. repent before it's too late, i cringe when i think about all the wealth you're going to miss out on

[Anonymous No.18848670]

>>18841900

lol

>implying anyone but the biggest normies will be dumping near the previous ATH

coincidentally, those same people will be buying back in once we breach it.

[Anonymous No.18848740]

>>18847548
>help out countries
The US "helps out" itself, nothing more. Imagine being this naive.

[Anonymous No.18849103]

>>18847676
Irrelevant, you are criticizing morality when we are discussing finances. Maybe you have more respect for beautiful Roman monuments or their badass legionnaires, but this does not translate to their power. Totally unrelated to economics.

Go back to r/politics or pol.

[Anonymous No.18849119]

>>18843149

You greatly underestimate the incredible power of greed, and the hold it has over the normie mind. They buy lottery tickets by the millions knowing they will lose.

[Anonymous No.18849168]

>>18849119
I buy chainlink knowing it will fail
>I buy it anyway

[Anonymous No.18849182]

>>18846038

>hello, this is the based department, how may I help you?

[Anonymous No.18849274]

>>18847676
Wrong. We also extort countries and cuck them with military bases in the name of keeping trade routes safe. The US is the most based country in the history of mankind.

[Anonymous No.18849543]

>>18847676
>You enslave the rest of the world by forcing them to take your worthless paper dollars.
No one forces them, currency markets are open, they can trade for Euros, Yuans, etc.
>Developing nations are severely hamstringed by this; you do nothing but consume their resources with your worthless paper, while producing almost no real value of your own.
Its not the fault of the US that commodities are priced in USD; Exchange rates are fair, a national money system is flexible and can be adjusted (by skillful and competent managers to help their economies)
>You make oil-prices artificially high to prop up the petrodollar and the U. S. oil industry.
But thats wrong, Oil prices are market priced, recent events prove this and you must be an absolute brainlet to not have noticed this
>You invade any country which rebels against your evil system.
Syria, Afghanistan ...?
>You export filth and degeneracy all over the world.
No one tells people what to download over the open internet
>Do you know what Britain's rate of taxation was when America rebelled against it--about 1 or 2%. Compare that with the economic slavery which your own government imposes on you, and which you impose on the world.
Again you don't have to participate in any economy which you feel has undue influence on your own freedom & by the way the economic and political systems of the 18th century were a complete disaster, wars, privation, and frequent and recurring currency collapses, etc., and so on
>Both Rome and Britain built up the countries they conquered; you impose financial servitude on humanity. Britain genuinely imposed free trade on the world; you impose the dollar, and rule by the Federal Reserve.
In 1945 no country except the US was in any position to regulate trade, nations convened to bring you the current system which has allowed many nations to go from being busted broke to the upper echelons of development, mainly through a stable reserve currency and world diplomacy .

[Anonymous No.18849904]

>>18849543
based fuck europoors

[Anonymous No.18850160]

>>18841976
I think you're either for stock-to-flow or against it. This halving will be a major turning point for that thesis, especially in such times of uncertainty.
If there is no change in demand for a good, that good will be made more expensive if supply is cut. Supply is being cut in less than two weeks.
IF BTC is a valid store of value (digital gold), it should increase in price.
We're going from 12.5 to 6.25 BTC. If the rewards going into single digits doesn't move BTC up, then I think it is dead. I think this is a critical scarcity threshold, and that if there is not a significant move upward in price within a week (sooner) of this halving, then no other halving will matter.

tl;dr BTC moons or dies on this halving. Nobody gives a shit about a scarce good unless someone wants it.

[Anonymous No.18850233]

>>18840578
>>18850160
moons and/or dies*

[Anonymous No.18850390]

>>18850233
Praying for death since I’m a cucked copelet

Jews are antibitcoin so it will die though

It’s unironically that simple

[Anonymous No.18851094]

>>18840578
A boomers stoned fantasy on a Sunday afternoon