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55763339 No.55763339 [Reply] [Original]

>bitcoin HAS intrinscic value, mining consumes electricity therefore bitcoin represents work, so it has value storing properties, just like precious metals!
completely inadequate argument since bitcoin network requires electicity in the first place to even exist
you can now begin to seethe crypto >investors

>> No.55763344

>>55763339
>2 more weeks until we destroy the internet chuds

>> No.55763346

A public ledger that is cryptographically enforced by the internet is inherently valuable. Eat shit fiat faggot.

>> No.55763348

>>55763344
https://youtu.be/ah2tbJg9_MI

>> No.55763356
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55763356

>>55763346
cryptography is a meme faggot

>> No.55763363

>>55763356
>hit him with this 5 dollar wrench until he shows us where his precious metals is buried

>> No.55763380
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55763380

>>55763363
exactly
and that is why orwells vision will win
poorfaggots will sethe

>> No.55763386
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55763386

>>55763339
>bitcoin HAS intrinscic value
Yes, jew, because fiats and PMs keep getting devalued into oblivion versus Bitcoin.

Keep kvetching.

>> No.55763413

>>55763339
>completely inadequate argument since bitcoin network requires electicity in the first place to even exist
That's dumb you dumb bitch. Btc requires the internet to exists, which isn't going anywhere. It requires the consumption of energy to be created, like gold. It is hard money like gold. Fiat money isn't hard faggot. Please make like a fag and kill yourself.

>> No.55763421
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55763421

>>55763386
fiat trannies in disbelief

>> No.55764167

>>55763346
This is a much better argument. The "it stores energy/work" idea is retarded even for gold. The cost to extract is just sets a price floor because no one will mine it at a loss, nothing more.

>> No.55764201

>>55763356
Assuming Satoshi is alive and not a glow op, good luck finding him.

>> No.55764242

>>55763339
Bitcoin is outdated send/receive spaghetti code that had two inflation bugs where anyone could have minted as many coins as they wanted.
/thread

>> No.55764247

>>55763339
Value is subjective, and even the "intrinsic" value of the US dollar comes down to force and coercion. The value in Bitcoin is it's a global payment network that anyone can access and is backed by math and energy. Is one more intrinsic than the other? I honestly think anyone complaining about Bitcoin's "intrinsic value" doesn't understand modern money at all.

>> No.55764249

I spent five years, eight hours a day working on my Star Trek fan fiction trilogy so it must be worth a million dollars if the labor theory of value is correct. Pay up, commies!

>> No.55764253

>>55764247
Retard. Literal goldbug logic. Bitcoin is backed by nothing but a cargoculy. Gold is backed by nothing but a cargocult. Fiat is backed by the political power of strongest nations on earth as well as the common interest to not break what works.

>> No.55764273
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55764273

>>55764253

>> No.55764550

>>55763339
Why antagonize?
If I had put more into crypto a few months ago (after doing much research and having questions answered by folks here) I'd be in an even better position to buy PMs right now.
It's not even a matter of crypto vs PMs when crypto projects can, by themselves, be compromised and crash.
Just like with anything you put money into to make more money all you need to say is: do your research.

>> No.55764681

>>55763339
>intrinscic value
Anyone that uses this phrase is a brainlet. All value is subjective.

>> No.55764710

>>55764550
hes from israel, and his wife has been giving him trouble for a while now

>> No.55764912

>>55763346
How do you assign a value to each unit in that ledger?

>>55764167
The energy used to mine gold isn't its value. Its value is its usefulness as a material.

>> No.55765243

>>55764912
Some say the effort used to mine it is somehow stored in the gold. To me this seems like magical thinking. But it's true that the cost to extract it sets a price floor.

>> No.55765955

>>55764710
It happens when you meet your wife from Omegle. Unfortunately some men feel the need to take it out on people anonymously