Can you remain a "gold is better than Bitcoin guy" after watching this?

[Anonymous No.18955373]

Bitcoin Explained to Gold Bugs in 10 Minutes!

https://youtu.be/KX6KLsaXjHQ

[Anonymous No.18955401]

>>18955373

[Anonymous No.18955416]

>>18955373
Can I hold a bitcoin in my hand?

[Anonymous No.18955471]

>>18955373
BTC segshit scam token artificially pumped with fake Tether tokens. LMAO

[Anonymous No.18955835]

>>18955416
>He didn't buy the real bitcoins

[Anonymous No.18955906]

>>18955373

It's amusing to see BTC-supporters condescend to those who buy gold, because people who support BTC are completely ignorant about crypto. There's a reason why the mainstream media loves BTC. The code was neutered early on by Blockstream, an organization backed by banks and financial institutions. When BTC went to $20,000 before, you had $100-dollar transactions and 3-day waiting times; that's why the price promptly crashed to $2500 (87.5%), and has been in limbo for three years. BTC can't support even 0.01% of the world's population without second-layer solutions which track and centralize everything you do. Satoshi Nakamoto's original vision has been destroyed. The original devs were either shoved out, or went into voluntary exile, and founded BCH to carry on the original project, a coin which _does_ genuinely allow for decentralized, private, peer-to-peer cash with minimal fees.

https://blog.plan99.net/the-resolution-of-the-bitcoin-experiment-dabb30201f7

At best, BTC can handle 0.25 million transactions per day. BCH can handle 8.3 million, and has a roadmap to handle 50 transactions per day for ten billion people. If BCH had the traffic of BTC at its 2017 height, transactions would cost only one cent.

https://www.bitcoincash.org/roadmap.html

https://medium.com/scalar-capital/the-bitcoin-cash-story-e55b277491f9

https://medium.com/@johnblocke/a-brief-and-incomplete-history-of-censorship-in-r-bitcoin-c85a290fe43

https://medium.com/@jonaldfyookball/12-reasons-bitcoin-cash-is-the-real-bitcoin-8d5547988374

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

https://www.youtube.com/watch?v=UYHFrf5ci_g

[Anonymous No.18955955]

>>18955906
Don't bother trying to explain this shit to these morons. Imagine the look on some moonboy's face when you tell him 80% of gold purchases are industrial or jewelry related. Gold has a PURPOSE. Bitcoin has none

[Anonymous No.18955993]

>>18955906
Look into cruzbit. BIP 101 implemented.

[Anonymous No.18956005]

Why want buttcoiners adress these papers? Why don´t they talk about what will happen after block rewards are no more?

>On the Instability of Bitcoin Without the Block Reward
https://www.cs.princeton.edu/~arvindn/publications/mining_CCS.pdf
The most in-depth paper written on bitcoin EVER
Princeton university

>Beyond the doomsday
economics of “proof-of work” in cryptocurrencies
Monetary and Economic Department
https://www.bis.org/publ/work765.pdf

[Anonymous No.18956046]

“Here’s how things could go wrong. Due to the possibility of profitable forking, the default strategy is no longer best; we lay out a menagerie of interesting and bizarre strategies in the paper. The most worrisome is “undercutting,” where miners capture aslittleof the available transaction fees as they can get away with, leaving the rest in the pool as an incentive for the next miner to extend their block rather than a competing block.
We also show rigorously thatselfish mininggets worse when block rewards are replaced by transaction fees, motivated by the following intuition: if you happen to mine a new block just seconds after the last one was found, you gain nothing by publishing, so you might as well keep it for selfish mining in case you get lucky. The variance in transaction fees enables strategies like this that simply don’t make sense when the block reward is fixed.”

[Anonymous No.18956061]

>>18955835
>copper

[Anonymous No.18956086]

>>18955416
>>18955835
this
i bought these for 10 bucks at my local store. a bargain. enjoy them bags when i dump them on you at 10k a piece lmao'ing at your life

[Anonymous No.18956101]

>>18955373
>cliff high

sorry OP but FUCKING DROPPED

>>18955416
can i hold gold in my head?

[Anonymous No.18956102]

>>18956005

This is worth considering as well. Jorge Stolfi on BTC's Lightning Network:

"If the LN becomes centralized into one big hub and everybody connected to it by one channel (which so far seems inevitable, for economic and technical reasons), then there will be no privacy. As the middleman of every payment, the hub will know instantly who is paying (or trying to pay) who.

But let's pretend that the LN can be decentralized, with channels distributed among thousands of independent hubs and millions of users.

One "interesting feature" of the LN is that channels and nodes must be long-lived entities, that will be used for dozens or thousands of payments; and each channel connects two fixed nodes. In contrast, a raw bitcoin user can create a new address for each transaction; and a spook can guess that two addresses belong to the same person only if they are both used as inputs of the same transaction -- at which point that information becomes largely useless.

Moreover, while a bitcoin address is just an immaterial pattern of bits, with nothing that ties it to the "owner", an LN node is a computer, that must be online in order to send or receive payments, and must be reachable by other nodes through a specific IP or onion address. Therefore, it will be much easier for a spook to determine the physical location and physical identity of the owner of a given node. In fact, large hubs will have to collect that information in order to comply with KYC/AML laws.

Also, when Alice sends a payment to Bob on-chain, Bob can check that the payment was sent at any later time, without having to contact any specific server. If she uses the LN, on the other hand, Bob must be online and interact with her (or with the middleman nodes) in order to receive the payment. Thus it will be much easier for a spook to detect that Alice paid Bob -- by timing analysis of internet accesses, if nothing else."

[Anonymous No.18956272]

>>18956102
bitcoin has no future. Way too many problems and downsides, that can only be ignored for so long.

[Anonymous No.18956388]

>>18955906
I don't know much about Bitcoin Cash since I think there's more value and investment opportunity in smartcontracts which is the reason I'm all in LINK, but I completely agree with your BItcoin part. Bitcoiners talk about all these visions of taking over the federal reserve and what not when in reality the main devs who are all part of Blockstream are telling people to use credit cards lmao.

[Anonymous No.18956441]

>>18956388

Even I would admit that BCH won't necessarily replace BTC. I have only 1% of my net-worth in crypto, and have chosen BCH and XMR as the best bets, but nobody knows exactly which coin will succeed in the end, which is why most of my inflation-hedge is in gold and mining stocks.

[Anonymous No.18956596]

>>18955373
>Internet access goes down
Whelp, there goes my bitcoin
I started mining in 2010 and cashed out already. I'm long gold now

[Anonymous No.18956798]

Can someone be off grid and still own Bitcoin? Gold has no third party risk that can't be midigated. Owning gold is a sign of mutuitty.

[Anonymous No.18956873]

>>18956101

He did well here, truth is truth.

[Anonymous No.18957515]

>>18955835
man i think you could sell a plastic bitcoin to many people and they would believe it

[Anonymous No.18957602]

>>18956101
There’s something about the ownership of intangibles that seems so, I don’t know, intangible

[Anonymous No.18957692]

>>18955373
here is the thing, Gold is gold, its value derives from its scarcity and unique properties, you can't duplicate a ounce of gold like a line of code
bitcoin price sorely relies on the majority accepting that it's bitcoin, tomorrow that majority could shift to BCH, BSV or any other fork just like peoples left myspace for facebook
because bitcoin code can be duplicated to infinity, this is not real scarcity it's completely artificial

[Anonymous No.18958050]

its hillarious that everyone invested in crypto wont shut up about "muh scarcity" when there are literally thousands of shitcoins that are 100% perfect copies of the big boy tokens

crypto has infinite supply and zero value other than its name

[Anonymous No.18958121]

>>18955373
when the emp hits you will remember gold was always a store of value and not some exchange vehicle of laundered money

[Anonymous No.18958126]

>>18955373
>

[Anonymous No.18958198]

>>18957692
You can make gold

[Anonymous No.18958234]

>Digibyte

[Anonymous No.18958281]

>>18958198

[Anonymous No.18958342]

>>18958198
>>18958281
>https://en.wikipedia.org/wiki/Synthesis_of_precious_metals#Gold_synthesis_in_a_nuclear_reactor

[Anonymous No.18958381]

Madman did it again.
Ctrl+F 'Gold'
>https://craigwright.net/blog/economics/money-is-time-and-energy/

[Anonymous No.18958387]

>>18958126
I hope this FUD is a joke.
It is literally as easy as downloading an app now.

[Anonymous No.18958425]

Was reading some zero hedge and the fags in this thread sound just like the salty boomers over there. Same arguments too.
Ngmi.

[Anonymous No.18958457]

>>18958342
>https://en.wikipedia.org/wiki/Synthesis_of_precious_metals#Gold_synthesis_in_a_nuclear_reactor
> although the production cost is currently many times the market price of gold. Since there is only one stable gold isotope
yeah ...it'"s like those asteroid full of gold but costing zillion to reach and mine

[Anonymous No.18958640]

>>18955471
you could've prepared but you've missed your chance. you're going to watch your family live in abject poverty from here on out...
you're going to wind up killing yourself.

[Anonymous No.18958817]

>>18955373

Bitcoin and gold are on the same team dumbass. Team real currency. But BTC is too volatile to hold medium and short term right now and Boomers and gen x can't wrap their heads around it, so if they want to flee to safer assets they'll flee to gold. Wait till they die off a bit, and for zoomers to grow up and start making real money. They'll buy in for sure. It's a game of patience, but don't kill off your allies in the mean time.

Gold is physical, which to a lot of people is absolutely necessary, has a history going back to the beginning of mankind, and will pull people away from fiat for you. A gateway currency. This is a long game and you need to be patient, and recognise who the real enemy is. Anyone who all-ins on crypto now is retarded. At least diversify into some other asset classes so at the very least you can buy more crypto when it goes on a down cycle. You're allowed to be a speculator but can you not be so fucking stupid?

[Anonymous No.18959094]

>>18958126
confirmation that website "developers" are fucking retards who can use html/css but can't write real software

[Anonymous No.18959145]

>>18958817

BTC is a tool for enslaving the world, it most decidedly is not "on the same team" as gold. Gold means freedom, BTC means servitude.

[Anonymous No.18959357]

>>18958817

I find that a good number of people in BTC have a profoundly ignorant contempt for gold, just like the OP. What I fear is that, if enough people join in the "digital gold" scam, it might actually serve its purpose of enslaving us. On the other hand, if it crashes (which I think is the most likely option), many people will be impoverished who might have protected themselves with gold, which is why it's so important to warn people about the dangers of bad crypto, or of putting much money in any crypto, since nothing is certain.

What I find ironic is that people who support BTC, parrot the same arguments about money-printing and the economy which Peter Schiff has been expounding for years. And yet when they sneer at him they think they are revolutionary and intelligent.

[Anonymous No.18959460]

>>18958817

I find that a good number of people in BTC have a profoundly ignorant contempt for gold, just like the OP. What I fear is that, if enough people join in the "digital gold" scam, it might actually serve its purpose of enslaving us. On the other hand, if BTC crashes (which I think is the most likely option), many people will be impoverished who might have protected themselves with gold, which is why it's so important to warn people about the dangers of bad crypto, or of putting too much money in any crypto, since nothing is certain.

What I find ironic is that people who support BTC, parrot the same arguments about money-printing and the economy which Peter Schiff has been expounding for years. And yet when they sneer at him they think they are revolutionary and intelligent.

[Anonymous No.18959482]

>>18955373
Gold survives the impeding apocalypse, OP.

>tfw living in a comfy bunker paying peasants to gather food for me

[Anonymous No.18959554]

>>18959357
exactly. Single tracked thinking leads to poverty. Like the metaphor of foxes and hedgehogs. A hedgehog only knows one trick but the fox has many, and adapts when new information comes into play. EVEN IF you don't believe in BTC, you need to have at least 1% diversification into it if not just for the downside vs upside ratio.

EVEN IF you don't believe in gold, you need to diversify into it to play on the boomers who'll flock to it. Diversification is both how you avoid bankruptcy and ensure gains.

[Anonymous No.18960524]

>>18958640
No matter how much money you dump into this $10k ponzi, it will never ever be lifechanging money. Even if it does 5x, which is totally unlikely as there is 0 organic demand, it still won't make you wealthy.

So shut the fuck up, BTC had it's run, and buying now is buying the top of the tether exit scam.

[Anonymous No.18960674]

>>18960524

Whereas even Bank of America is predicting $3000 gold (a 76% increase on the current spot price). Don't understand why somebody would gamble rather than take the sure thing.

https://www.bloomberg.com/news/articles/2020-04-21/bofa-raises-gold-target-to-3-000-as-fed-can-t-print-gold

[Anonymous No.18961731]

>>18956388
>Bitcoiners talk about all these visions of taking over the federal reserve and what not
yeah that's bollocks never gonna happen
same for the sv cuck delusions about well pretty much everything they are raving about never gonna happen.
nothing is gonna happen except bitcoin silently going to $1million without changing a single thing about the world.

[Anonymous No.18961784]

>>18956102
>But let's pretend that the LN can be decentralized, with channels distributed among thousands of independent hubs and millions of users.
something in between. there will be a bunch of large hubs and a few smaller ones satelliting around them. the thousands of hubs mesh model not gonna work routing wise. fully centralized it would be awful. so we gonna have just enough decentralization.

[Anonymous No.18961807]

>>18955373
Fuck goldies, it'll be a joy buying their shine shine rocks from them for basically nothing.

[Anonymous No.18961867]

>>18958457
seafloor is much richer in gold and much closer.
the amount of gold on planet earth is staggering.

[Anonymous No.18962295]

>>18961784

>something in between. there will be a bunch of large hubs and a few smaller ones satelliting around them. the thousands of hubs mesh model not gonna work routing wise. fully centralized it would be awful. so we gonna have just enough decentralization.

And then you proceed to overlook the arguments to show that this can't provide privacy either.