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/biz/ - Business & Finance

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19159676 No.19159676 [Reply] [Original]

Why isn't this piece of shit worth $0 yet?

It sucks as a payment transfer system (high fees, slow shit)

It's too volatile to work as store of value

70% of the network is controlled by 3 chink miners

It consume more energy than entire countries

It's not even good for buying drugs/illegal shit (Darknet markets leaning toward Monero lately)

>> No.19159739

Cos it has a proven track record of security, finite supply, liquidity and transfer-ability that precious metals can only dream about, and the financial system is crashing all around it.

I was holding out for another dip but am now all-in.

>> No.19159752

>>19159676
Tether and chinks keeping it alive

>> No.19159768

kek

>> No.19159779

>>19159676
All in good time. Market can stay irrational than you can stay solvent, but Bitcoin will definitely not remain alive for long.

>> No.19159803

>>19159676
Because of degenerate gamblers. Eventually Bitcoin will be adopted though. Right now everyone is using Segwit.

>> No.19159818

Vitalik said that it's backed by nothing, it only has value because people give ti value, like collectibles.

I think it's the most accurate description of BTC. ETH is worthless too and all ICO's are Ponzi scam, but let's concentrate on BTC.

>> No.19159919

Bitcoin is a savings technology of first resort and payment technology of last resort.

Growing number of people understand this.

>> No.19159940

>>19159919
That means Bitcoin has already failed

>> No.19160178

>>19159940
then sell

>> No.19160222

>>19159676
>alphabet agencies own it
>is hugely used to move money under the table
its here to stay faggot deal with it

>> No.19160259
File: 45 KB, 1778x611, Block #635141.png [View same] [iqdb] [saucenao] [google]
19160259

>>19159940
Bitcoin is doing better than ever.

>> No.19160329

>>19159919
hi aviv

>> No.19160377

>>19159676
Worse is Better theory of software. it's boring and slow, but the most simple and stable

https://en.wikipedia.org/wiki/Worse_is_better

>> No.19160805

>>19159940
Yes, Bitcoin is exponentially failing to die and just keeps getting more liquid. When does it stop?!

>> No.19161004

>>19160329
Do you want to tell Aviv something ?

>> No.19161033

>>19159676
The only thing that matters if you want to store value - security.

>> No.19161150

>>19161033
So buy gold. It's vastly better at storing value than Segwit.

>> No.19161841

>>19161150
You dont need to store your Bitcoin in segwit addresses.

>> No.19161860
File: 532 KB, 3000x1086, vishnuwars.jpg [View same] [iqdb] [saucenao] [google]
19161860

>>19161841
and no, im not shilling shitcoins

>> No.19161899
File: 82 KB, 1015x864, Transactions.png [View same] [iqdb] [saucenao] [google]
19161899

>>19161841
So what? The ledger operates with people using Segwit, making the whole thing fake and gay (invalid).

>> No.19161912

because it has lasted over 10 years without any hack caused by the protocol itself its the most secure database in the world right now and has been proven through time and is backed by its hashpower

>> No.19161914

>>19159739
>
this

Also, should I go all in or hold a bit for another dump? Like come on man that bitcoin has to come down to atleast 8k right?

>> No.19161960

>>19159779
Time is something you don't have alot of. Everything is happening so slowly and on such a long time frame that you'll either be dead or too old to enjoy it when it finally matures. This system is stealing your time and the best years of your life from you. Communism is the only way we ALL make it.

>> No.19162052

>>19161899
This is not how it works. Once you have coins in a legacy address and the block matures for a while your coins are safe even in a so called segwit miner steal attack. But then again, this whole narrative is retarded because the price would crash and would put miners in bankruptcy, so there is no Schelling point in attacking segwit.

>> No.19162288

>>19162052
why do people think a miner can misspend a segwit tx easier than a legacy tx?
segwit rules are enforced by the consensus ruleset. not even a 51% attack could misspend them it would make an illegal block, split and make a new shitcoin.

>> No.19162330

>>19162288
tldr for brainlets: the attacking miners would fork themselves off and no exchange would receive their earnings.

>> No.19162496

>>19160805
How is it more liquid when you can't cash out?

>> No.19162527

>>19162496
wdym can't cash out?

>> No.19162677 [DELETED] 

Meanwhile I got 52$ for free. If cuckcoin is giving these and it can be sold instantly, fuck them...

https://coinbase.com/
earn/oxt/invite/y3pchr8j

Correct Answers are:

1 A peer to peer privacy wallet.
2 Orchid’s Ethereum token, OXT, as well as the Orchid app and a Web3 wallet.
3 Multihop configurations between bandwidth providers.

>> No.19162995

>>19162527
it's the cashie equivalent of chimp out. if you can't "cash out" on bitcoin it means the protocol is locked in and consensus is working as intended.

>> No.19163016

>>19162677
some cuck made me register for earnings on stellar i was like wtf if i can convert them to bitcoin why not? so that has been weeks ago still not activated and can't answer.

don't bother with this shit folks they just make you watch some propaganda videos of their shitcoin and you get nothing.

>> No.19163047
File: 610 KB, 1860x684, Bitcoin dead.png [View same] [iqdb] [saucenao] [google]
19163047

>>19159676

>> No.19163060

>>19159676
the crypto community is like a really shitty fishing village, I'm surprised it's even 9k right now, if it had any adoption at all the price would be absurd

>slow high fees
actually, not it cost less, and moves faster than an actual wire transfer

>> No.19163064

>>19163047
i lost count of the bitcoin obituaries in 2017

>> No.19163119

>>19163060
>it cost less, and moves faster than an actual wire transfer
true, i never loved bitcoin so much when i realized how much cheaper and faster it is than fucking wires. and the anxiety... wires go through many hands for 2-3 days you are in limbo. bitcoin is transparent as fuck and way way faster. well normally when it's not congested as shit.

>> No.19163273

It's over

>>19154057
>>19154057
>>19154057

>> No.19163379

>>19163060
>>19163119
Have you guys ever spent a twenty dollar bill?

>> No.19163417

>>19163379
i sometimes transfer a few grands to $100k and bitcoin is absolutely my favorit. if you ever had a transfer blocked by a bank claiming some bullshit anti-money-laundering rules and various mongrel excuses you also appreciate it's permissionless nature.

>> No.19163455

>>19163417
Jesus Christ man, run for office.

>> No.19163555

>>19161914

Go all-in.

Chance of it dropping to 8k is minimal, and even if it does then it will just pump back up.

>> No.19163652
File: 1.20 MB, 475x6156, normie halving dump.jpg [View same] [iqdb] [saucenao] [google]
19163652

>>19163555
Too many fucking idiots on board since the halving. Smoke this dumb money, then real money will get in on capitulation.

>> No.19163760

>>19163652
it's funny i was bullish af before halving and shorted the halving. so far pa says i was the fool. from 20d ma to ichimoku and sar all says long price creeps up and up weekly closed above resistance line and broke it for the first time since early 2018...

not a comfy short at all.

>> No.19163769

>>19163652

Logic of a no-coiner... just buy-in and be comfy.

>> No.19163796

>>19159676

100,000 in JULY

CHECK

>> No.19163801

>>19163379
if a $0.15 fee is a lot of money to you, I don't even know. You could go outside, and find $0.15 cents on the ground in a few minutes if you really need your transaction fee back

>> No.19163873

>>19163801
My god, neither of you are capable of answering a simple question. The sheer dodginess says more than any answer ever could.

>> No.19163892

Bitcoin is going parabolic and there's nothing you poor nocoiner faggots can do about it

>> No.19163945

>>19163873
>HAVE YOU EVER SPENT A $20 BILL?
is this really the most difficult question you could ask, and get mad over it?

yes anon, I have, and I have also used bitcoin for small transactions like buying t-shirts and games
no, I will never buy gas, or food items with my bitcoin.

>> No.19163972

>>19159676
Its going to be worth $250k in 5 years brooo

>> No.19164021

>>19163945
It wasn't meant to be a difficult question. I literally said "simple question" in my post. The point is you compared Bitcoin to a wire transfer. Bitcoin is nothing like a wire transfer, its like cash. So if its better than a wire, great, but that's not what its meant to disrupt and change. Otherwise this is just meant for banks to be used a settlement system.

>> No.19164052

20k by December. In now or cry forever.

>> No.19164066

>>19161960
dis

>> No.19164153

Because if BTC goes down the rest of your shitcoins come tumbling down with it.

>> No.19164180
File: 52 KB, 845x477, despair 2.jpg [View same] [iqdb] [saucenao] [google]
19164180

>tfw poor wageslave
Can't even buy $1k worth of BTC

>> No.19164225

>>19159676
newfag

>> No.19164390

>>19159676
It's digital gold, right? It shouldn't ever hit 0 and hopefully it'll just stay at 10k forever so we can have some stability.

>> No.19164477

>>19164180
you can buy fractions of bitcoin

>> No.19164519

Just kidding. They bought.
Drop it.

>> No.19164665

>>19159676
Tether.to chinks could print 1000 Trillion USDT in less than a second with a single click, that's why.

>> No.19165519
File: 400 KB, 1554x856, btc.png [View same] [iqdb] [saucenao] [google]
19165519

>>19163760
Not broken.

>> No.19166200

>>19159739
Based and szabo pilled

>> No.19167298

>>19159676
You absolute fool. It IS a currency at this point. Thats like saying "why is my peice of paper with a 100 on it worth that much more than this one its the same herp derp"

If people accept, buy, and trade it, its valuable.
retard

>> No.19167310

>>19159739
Based

>> No.19167366

>>19167298
the fact you are asking this a decade after when it was worth practically nothing proves a lot
I REMEMBER /b/ threads where people would give thousands, THOUSANDS of bitcoins away because they were worth absolutely nothing, and people were having thsame godamn conversation we are now
"what is it actually worth herp derp"
Therrr is a limited supply, and you can walk up to damn near any women or guy on the street and theyll strip naked and act a fool for 2 of em. thats all you need to know.

>> No.19167400
File: 2.93 MB, 2190x2939, file.png [View same] [iqdb] [saucenao] [google]
19167400

>>19159676
You've had ten years.