Bitcoin isn't used

Bitcoin (BCH) is used.

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and then you stumble upon a bcash or chainlink thread and realize the dumb money has been here for a while

I buy food with Bitcoin online

Sorry for your loss, I am currently at more than 10x the fiat value I put in less than two years ago.

Might be hard to believe, but not everyone is a high time preference fomo brainlet, who buys in at the top.

i didnt buy the top retard, i was pointing out how those who bought above 6k and held the 'store of value', which is like 80% or more of the money that got into btc got absolutely JUST'd
>inb4 they made money by selling above their buy in price
then you're not storing value, you are trading value

sauce for this roastie?

I got your stupid point from the first post. So let me re-word my point in way that your sub 100 IQ brain can hopefully comprehend:

Storing value is a low time preference activity, where you postpone current consumption for at least multiple years or even decades, so you can have that value at your disposal in the future to mitigate the inherent risks of life.

I am willing to speculate that huge majority of FOMO buyers from Nov/Dec didn't buy in at the top of a speculation bubble to store value, but to flip the coins for fiat profit. And portion of them got rightfully rekt.

Mitigation is simple, just drop your time preference, buy more at lower prices to bring the average down and wait a few years. People who got in at 1k in 2013 and held are 6x in 5 years.

so youre a filthy nocoiner? ok. lets see how that plays out homo.

almost no one uses ethereum either but a shitload of people buy it.
Crypto is mostly a solution in search of a problem, a store of value is all I'll ever need from this market so btc is more than enough for me

yeah, only works IF btc is going to +20k, which you dont fucking know and neither does anyone, you had luck with the last bullrun, next gen of buyers may not be so lucky to have their value 'stored'
im a coiner faggot but im not deluded enough to call this shit a reliable store of value just because of a few bullruns. If its a slow bleed to sub 1k from here and never recovers, 95% of those who stored their value will have it stolen instead

I'm sure gold was alwas super stable and only went up in value, especially in the early stages

other times and it was THE currency, cant really compare

>measuring BTC in jewish currency with infinite supply
There is your mistake.

Sure its summer here.

Early adoption meme. People here want to buy coins which COULD be used in the future. Its all speculation

im sorry whats the current price of btc? yep it says 6350 DOLLARS, same as always,dollaridoos the only thing that people care about. Try and price anything without fiat as reference. What do you measure gold in aswell? whats that? dollars?

>the fiat psychosis in which I live in will last forever

In any case, im up several thousands % measured against powellcoin because I saw the value in bitcoin early enough, as opposed to the average low IQ mong.

The good news is, we are at the bottom after the last bubble, you can either get in now or hopefully finally kill yourself in 2 years.

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Yep everyone is just waiting till November till they kill btc off

so how many sats you want for your car? btc is the only currency, 50000 sats? 100000? no wat ill just hold a couple more years and buy it for 10000, i can walk instead

you are happy and smug cause its worth so many dollars. If dollar collapsed no one would care about your little coin and you know it

If you think Bitcoin periodically going up with waves of new adopters is luck/random then you might want to educate yourself and read 'The bullish case for bitcoin' by Vijay Boyapati - a short article on medium.com

Then if you get intrigued you should read 'The Bitcoin Standard' by Saifedean Ammous - you can pirate it on gen.lib.rus.ec

I don't really care if you read it, but at least some lurker might change his misconceptions.

Not at all. Dotcom bubble peaked at 6.7 trillion. We still need a ton of dumbasses buying shitcoins, then the bubble will pop, couple years of "crypto is dead" again, then bitcoin goes to $1+ million while shitcoins stay stagnant.

There is no hope to save "why bitcoin has value? its not used" mongs tho. They are several standard deviations away from having enough IQ to understand the implications in high finance that BTC has, the game theory involved, understanding schelling points and whatnot. Then again few people can make it, naturally, as a matter of course.

>brainlet.tiff

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>uses false argument A as fact
>proceeds to build argument B on A

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never traveled, eh?

No, im happy to see the dollar deprecate against Bitcoin, while my BTC count only goes up, sleeping tight at night nobody can counterfeit it at any point in time.

You are too dumb for this, time to pick another hobby.

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Based

go ahead tell me, how would you price goods and services if there was no fiat and btc was the only currency. Im all ears prove me wrong

i bought a pack of cigs off a wook at a fest in btc just last weekend. first person i asked too. stay poor OP

In electronics and jewelry yes

Let me explain something to you retard.

Nowadays you pay shitloads of taxes to speak of. FIAT is inflating. Just check the charts what 1$ used to go for. But okay nvm FIAT bcs it will stay here anyways.

You can literally do the same with crypto. Lets create USDC!

Its always 1$ = 1USDC. It never changes. Now forget the dollar part. The world is now 1USDC or whatever logo it adopts. Yes a burger costs 5 USDC and with BITCOIN you can play stocks.

The fun part is that all of this is decentralized, its on the blockchain and nobody can get it from you if you memorize your private key, addres and what not. ITS LITERALLY IN YOUR HEAD.

If you dont see the potential in this then i dont know. It is literally the next generation currency.

so you're just gonna replace fiat with some kind of tether, which can also be printed out of nothing. Got it.. Cause you cant actually price shit only with btc, you HAVE to have this USDC, we're back to the dollar only digital. If btc didnt have a hard cap, and the supply increased without limit but way less than the dollar, you'd have an actual, stable, useful currency that beats inflation

You set good or service at 1 BTC
competitor B sets good or service at 0.9 BTC
competitor C sets good or service at 0.8 BTC

in other words, the fucking market will decide what the value of things are against BTC and nobody will think "how much BTC is worth" just like you don't think "how much the dollar is worth". It will be the unit of account.

In any case, fiat doesn't even need to "die" for BTC to replace gold which would make it be worth $1+ million a coin. People would keep using shit money to buy things because it deprecates, and good money to store wealth aka BTC.

/thread

Did i say fucking tether anywhere? No i didnt. I just created a coin called USDC.

Give it a fixed supply and start distributing it like the dollar. I dont see the problem? My god just put the same supply that currently the dollar has (im too lazy to calculate the current USD supply).

THE POINT IS

The banks do not control your resources (no need for bank if you memorize it IN YOUR BRAIN). Its a digital currency no need for pennies and fucking paper. Its on the blockchain, its anonymous, its the best kind of currency out there.

Like literally i dont see it guys how you can advocate a currency that is inflating. There is like 0 point to hold FIAT. Paper money is being printed every second. Your money is worth less every year. Prices are getting higher but salary is lower.

woops, but the amount of BTC is limited so you cant use it to buy/sell, you dont wanna lose those precious sats.
>People would keep using shit money to buy things because it deprecates, and good money to store wealth
that keeps appreciating in relation to fiat, so people would spend the minimum fiat possible and store the rest in btc cause it always goes up. The economy would tank

yes i know how btc works and that its supposed to go against banks, jeez im not a fucking normie i said im a coiner. Im discussing how would a future crypto economy where fiat is done away with would work, while having hard caps on these cryptos.

I used Bitcoin to buy Jow Forums pass, and a few days ago I used it to buy a VPN, I don't know what the fuck you're on about
Though if given the option to use another coin besides bitcoin to pay for something, it's a bit of a no-brainer I'd use that coin instead.

Oh my bad user, late day at wagecucking. Yes your argument is valid, a fixed supply needs to be. Thats the whole point like you said +1

And i will add to it, that i dont need to have any kind of stupid pennies, paper money. I can easily decide on my own. Its anonymous (SJW would love this) nobody controls it but you if you memorize all the codes in your head. The blockchain works on its own. Its made so secure that you cant literally fuck it up. Its the future.

>You have virtual currency ala BTC.
>You pay with your electronical device by just looking at stuff with your electronical lids.

Yeah we will probably maybe not see the future, but i bet you boyz that anyone who has invested in crypto right now will fucking make it. This is just the beginning like internet.

Go read up history how the internet was created. There was like shitloads of research teams doing it. Yes when the first came out everything went apeshit, then it cooled down a lil bit, but then people understood the usefulness.

The next revolution is going to be the next
>FIAT inflates.
>Prices get higher.
>Salary stays the same bcs MUH STATISTICS OF PREVIOUS YEAR.
>People are not able to afford homes.
>Rich people buy properties in other countries and rent them.
>Above is already happening (Even in my country).
>New Zealand is unironically fighting against this. Passing laws that you cant do that.
>READ NOWADAYS WORKING IS SLAVERY. IF YOU WORK FOR 50 YEARS TO BUY A HOME THEN ITS NOT LIVING, ITS SLAVERY.

I wouldnt be surprised if the kikes would start putting some shenanigans on like if you die while loaning FIAT for buying a home and if you die while having said loan then the government owns your home shit. Then the cycle restarts with your offspring as they work for 50 years.

My cost basis average is 450, faggot.

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i also want to see current inflating fiat die, but the current state of crypto is not a viable replacement. I try to discuss this with crypto fanatics and they all go 'stay poor fag' 'ha you missed the train' 'fiat is shit btc is king and will make us richer cause its got limited supply'. Like, try to think a bit on how you can have a serious economy with crypto instead of shilling your shitcoins all day. You NEED something without a hard cap to satisfy the demand for capital, but its supply should grow in proportion to the creation of new goods & services so it doesnt get out of hand. This is what isnt being discussed and until you can solve these very fundamental issues with crypto, you will never see true adoption and it will always stay a volatile, speculative asset to make quick bucks

I only use bitcoin when I have to, but I use Ether and ERC20 tokens on the daily. Ether to move my tokens, and the tokens as an actual store of value or as fiat currency.

The amount of transactions on the ethereum chain are far higher than the amount on the bitcoin chain desu.

because people use it to move hundreds of different erc20 shitcoins.
No one uses eth for anything serious, it's either moving shitcoins (such use case, wow) or some stupid ponzi/citties dapps.
Eth real price is probably in single digits if you cut out the speculation (and it will die - the speculation)
inb4
>hurr bitcoin is even more speculative
but that's what bitcoin is for, currency/store of value/digital gold
ethereum was never designed as such, people use platforms/protocols for performance and utility

>people will stop needing things

>55 replies
why?
its so boring

Not true, I bought a Jow Forums pass with it.

youtube.com/watch?v=Zbm772vF-5M

see this

Sauce pleaseeeeeeeeeeeee

Essentially this. Crypto, or more specifically decentralized currency, has great transformative potential. What we've seen so far is literally just a Ponzi scheme.

Sauce please, need to fap

Keri sable.

>that keeps appreciating in relation to fiat, so people would spend the minimum fiat possible and store the rest in btc cause it always goes up. The economy would tank
fuck the economy you kike.
How is the economy good when it's impossible for young people to buy their own house because by the time they save up something it's not worth shit because of inflation?
will you justify that with even more jewish tricks and telling me it's good for the economy?
Fuck the economy and useless products/jobs that get a free ride on other people's backs thanks to inflation

low iq

Thank you for making me fap at 1 pm..

they will not stop needing things, they will just become way more conservative with their spendings, and when i say conservative i mean bordering frugality, cause every sat you spend is a sat that could buy you twice or thrice what you bought in the future. This would bankrupt the high consumer society. To put it in other words, they'd buy what they absolutely NEED, whereas now people buy what they WANT

Because it's the Future and you can't fight the Future.

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I don’t trust Jews or fed.

>Oh boy Bitcoin is at an ath lets dump all our money at 19k this seems fiscally responsible.

another triggered bitcoiner holy shit how about you read my posts. In your head it makes sense cause you lead a simple life where you buy shit, fuck bitches and work your ass and you see that the money you earn is worth less and less and saving becomes pointless unless you invest.
This is about inflation yes, but we are talking macro level here. You cant have a country like the U.S using bitcoin currency, where there are 18 million btc at best and the entire world is trying to hoard it. Global trading would halt, its not only about spending.
Hey i give you these 1000 tons of wheat for 1 btc. The btc owner goes: thats the best deal in the world right now, but what if this 1 btc can buy me 6000 tons in 3 years? am i being ripped off? it literally encourages hoarding. This is but one issue there are others. If this is the way you wanna go, you need some kind of stable fiat replacement with no hard cap, doesnt matter if this is a school of economy or not, its just common sense.

Yeah it is expensive as fuck to buy a house as a millennial (29 yr old). It will be even tougher for Gen. Z to buy one if the prices keep going up and the wages stay stagnant. Gen. X was the last generation to comfortably afford property without signing away your life to pay off the mortgage. I do see some hope in the near future as the housing prices are starting to cool off. Hopefully it triggers a recession and bring housing prices down while at the same time Bitcoin runs upwards to $100k+. That would be the dream.

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the post means btc is down 70%, not that im down 70% brainlet

How did you get the btc how are the people funding the electricity and miners needed in order to mine the bitcoin.

alright so the price of btc would be its mining cost, how do you establish the mining cost if the only measure of value is btc?

No shit...

>muh store of value
Dude your "wealth" goes down like 1000% every month lol. How the fuck is something as volatile as bubblecoin considered a "store of value?" You're more likely to lose value than you are to store or gain value.

>Hey i give you these 1000 tons of wheat for 1 btc. The btc owner goes: thats the best deal in the world right now, but what if this 1 btc can buy me 6000 tons in 3 years?
that's called adoption/early stages, things would satbilize

>hurr we need to be able to print more and more money
because what? bitcoin or even dollars are divisible. The only reason to print more money is to steal from those who hold it and encourage degenerate/desperate spending trying to at least save some of the money that otherwise would be eaten by inflation. And the governments will make sure that other instruments like gold/stocks/whatever will not save your ass from inflation, because you know damn well that in that case no one would hold any FIAT beyond small amounts for daily expenses.

The governments want you to keep buying new phones new cars, and every other depreciating shit just to keep you like a slave on a short leash without his own place to live in.

How the fuck is that even legal and people like you have the audacity to defend that situation is beyond me. You gotta to be a kike

Can't buy groceries or pay rent/bills with btc

You're a turbo-brainlet. Your btc count only goes up if you're actively buying or mining more bitcoin. Without dollars or a different fiat currency as your frame of measurement nothing happens to your bitcoin.

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>how do you establish
why do you want to establish everything you nany state lover? let the free market decide what's worth what for fuck's sake

>and when i say conservative i mean bordering frugality

Yeah, in other words aligned within a reality of limited resources, contrary to the current clusterfuck.

>down like 1000% every month lol.
confirmed retard

also, is gold going up in a straight line? no, so mabe we should stop calling gold a store of value too? fucking imbecile

low IQ post

read Saifedean Ammous book then kys

You're wro'g, It usually goes up 1000%. Unzoom.

>narrator: but it totally wasn't

>hurr durrr I'm losing money that means I'm storing value
fucking retard

>buy my bags
Literal ponzi. Prove me wrong.

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>Why would you buy something that nobody uses?

The same reason you buy condoms OP. Sure, you're not going to use them this year, or the next. But one day. Maybe. Just maybe. And then you'll be glad you bought them.

so if you buy gold and it goes down in relation to USD that means gold isn't a store of value you basolute idiot? stop changing topics and answer this

Gold doesn't go down 10,000% every day like buttcoin does
>basolute idiot
>idiot
>basolute
lol

>you gotta be a kike
no, you are the kike. You people love to watch the last 100 years of the dollar and go 'thats the kikes' yet ignore the thousand of years they used gold and manipulated economies with it, just like they would with btc. Do you honestly think you'd be free of them with btc? they probably already own half of it you fucking brainlet.
>things would stabilize
stabilize in relation to what exactly? remember if its the only currency, it doesnt go up or down anymore cause you're not trading it for fiat. You're buying/selling directly with it, and you would have hell to try to reach standard prices for goods. Someone, somewhere will always be getting scammed, and it will probably be you, the consumer.
Yes fiat sucks currently but not because its got no hard cap, but because its created as debt with interest rates, meaning there is not enough fiat to ever repay the debt. Doesnt mean having no hard cap leads to price increases by default. If you only printed in accordance with production prices would remain stable, there would be no noticeable inflation AND you could have your btc as store of value if you wished so

how can something go down more than 100% you fucking retard? LMAO
keep grasping at typos you subhuman

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>muh store of value
>go to the bathroom to take a shit
>come back, lost 100,000%
nice """store of value""" you fucking inbred HAHAHAHAHAHAHAHAH

I use it literally every day.

>Gold doesn't go down 10,000%
After it went 20,000% up...

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The only people losing are the ones who bought after Nov. '17

this

>stabilize in relation to what exactly?
to goods, to acres of land, pounds of meat, whatever you want.
Free market would decide what's worth what. I would rather have normal people decide that than a few kikes with a printing machine

with btc as currency? you'd be the first to be ripped off

In a year you'll be saying "the only people losing are the ones who bought after Aug. '18"
And you'll just keep adjusting that date as shitcoin tanks to new lows every year