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28943353 No.28943353 [Reply] [Original]

Bitcoin is a shitcoin by 2021 standards. Why do people prop it up?

>> No.28943484

Salty nocoiner btfo, eat shit and die.

>> No.28943507

>>28943353
Its easy to buy it

>> No.28943568

>>28943353
First adopters+a lot of "maxis" are losers who spent their life savings accumulating, believing it to be the future. But yes, BTC is a shitcoin.

>> No.28944262

>>28943568
jealous nocoiner

>> No.28944473
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28944473

>>28944262
BTC was invented to provide a cheap, fast way to do transactions and used for this purpose for its early existence. While the speculation has pushed the price way up, the technology underpinning BTC and other coins like ETH has become extremely aged and unable to keep up with the needs of society. BTC has less than 5 years before people realize the emperor has no clothes and money goes elsewhere. Refusing to understand that technological limitations means that holding BTC beyond that point is idiotic is your own general stupidity and the fact you are a faggot.

>> No.28945606

>>28943353
Inertia. Any commodity only has value because people believe it does. 98% of crypto holders have no idea about any of the underlying tech or applications. So even for those 2% that even know what a smart contract is, btc is still a good investment because it is carried by the belief of the majority. The intrinsic qualities of the commodity itself are basically completely irrelevant.

Gold is a perfect analogy. Gold by itself is pretty much entirely worthless, objectively, outside of a few high-tech and niche industrial applications. Yet there has been a massive demand for it and use for it as currency across human history because:
>it is rare enough to be difficult to obtain
>it is also common enough to be obtainable in reasonable quantities
>everyone has mutually agreed that it is valuable


So yes, it's true that speaking only in terms of technology, bitcoin is a shitcoin by 2021 standards. It also doesnt matter. It's also true that with enough redditors and celebs shilling, DOGE could usurp BTC as the number one crypto.

>> No.28946048

>>28944473
Could be 5 years could be 15 years

>> No.28946507

>>28944473
this

>>28943353
>Bitcoin is a shitcoin by 2021 standards. Why do people prop it up?

Because the entire crypto community are shit for brains shit coiners who only care about 'price go up'. BTC is a giant piece of shit that has been comprised in several way by blockstream. Segwit, lightning, etc. BTC was meant to be P2P monetary system. It's some bullshit "store of wealth" with zero functionality and 1mb block sizes. I am gonna laugh at all the retards who bought on speculation when it fucking plummets to zero.

>> No.28946548

>>28944473
>BTC was invented to provide a cheap, fast way to do transactions
No you goddamn moron
Read what’s written in the fucking genesis block