To the people who don't think Bitcoin will go up in price with time, try to understand this:
Bitcoin can not inflate further past 21 million coins. The dollar is inflating constantly. Bitcoin, just by holding a steady value, will go up in dollar amount because the dollar is inflating into nothing. Bitcoin will appear to be increasing in its dollar amount when in reality it's simply holding its value.
It's not Bitcoin appreciating in value with relation to a steady dollar. The dollar isn't steady. It's the dollar depreciating with relation to a steady bitcoin. The dollar is a depreciating asset so it makes sense that the price of 1 BTC should go up in terms of dollars in order for a Bitcoins value to remain the same.
When you're trading alts, BTC is the 'base' and your alt is the alternate. This holds true with dollars. BTC is still the base. The US dollar is the shitcoin.
I know this may be difficult to understand but try
leave them just screenshot the deluded bears in 2020 all the normies will say "WTF IF I KNEW BITCOIN IN 2018 I WOULD HAVE BUY A SHIT TON" History repeats itself
Jackson Morris
Stop listening to delusional perma bulls
Jeremiah Powell
why do you think the dollar is depreciating or "constantly inflating" its true but the inflation rate currently sits at like 3%
Aiden Murphy
What makes you say that this was the last time bitcoin will bull when it has proven bears wrong every time in the past? "this time is different. Buttcorn is finished!!!!! ". Why?
The "official government figure" is 3%. You don't truly believe that do you? Take a look around, the price of everything from cars to groceries has nearly doubled since a decade ago. Houses have doubled in 5 years. That's not 3%. And our monetary base is absolutely not increasing at 3% lol they are printing wayyyyy more than the economic growth we're experiencing
Thomas Davis
Thanks to quantitative easing, the inflation rate is more like 7.2%
Might even get worse as more money leaves broader money markets due to fears of an upcoming crash
Thomas Cox
Who the fuck doesn't know about Bitcoin in 2018? You're not in some special secret club.
Evan Bailey
Knowing is only half the battle. How many of those who knew actually bought? Very few. But when btc starts ramping up again and these same normies who were on the sidelines last time see the potential for mooning because they saw the last one play out in real time, more of them are going to buy in. This will cause an even bigger pump than last time.... Like has been happening every single time in the past
Camden Jenkins
literally everyone knows about bitcoin... thots in my highschool were talking about it ffs
Jaxon Butler
muh 7-year market, kek
Luis Ortiz
yes, bitcoin has a limmited supply, but as time goes by more cryptocurrencies will appear and bitcoins market share will keep decreasing.
Robert Powell
>Barts are steady lol ok. how many bitcoins are used for speculation vs actual transactions? that should be enough to make you skeptical of its utility.
Cameron Cook
a small minority of people were using internet in the 80s, mostly in academia and geek circles. most of the people "have heard" or "knew" about internet by early 90s, but we still had stuff like this: youtube.com/watch?v=UlJku_CSyNg flash forward to mid 00s, still only ~50% of people in developed nations were using internet (at all, not as in constantly plugged in). flash forward to now, internet is seen as a given, zoomers cant even comprehend world without internet. now, im not saying that cryptocurrencies will follow the exact same path, but its foolish to think that just because people have heard about something, it means that they actually know anything about it. its not unusual for me to hear exactly the same question as in the vid regarding btc: "just wtf is bitcoin anyway?", from people who have heard about it, but know nothing. i can easily see how were in early to mid 90s regarding cryptos.
Evan Rivera
Could just as well say "who the fuck doesn't know about bitcoin in 2014?". It was all over the news in 2013, yet here we are with thousands of newfags who bought the 2017 peaks, again and again
Elijah Hall
They think Bitcoin has known mass adoption. Furthermore, they hold 0.7 BTC. Leave them.
Lincoln Sanders
this
Lucas Nguyen
>what is a market cycle
are you so retarded that you don't want to buy while it's low?
Landon Mitchell
Imagine buying Bitcoin for $12 in 2012 and receiving a message from the future that: A) People are sad that Bitcoin is only worth $6,320 B) Six years into the future, the same idiots still don't get it
Buy and hold, remember to take profits this time around so you can maximize your keks
Christopher Hall
This user gets it
Luke Murphy
what if the utility isn't for transactions? the narrative has changed to digital gold. if that's the case then nothing to be skeptical about.
Ian Mitchell
if you think the bitcoin fixed economy is a sound economic system, you deserve the destitute grave you've dug when bitcoin goes to 100USD within 5 years time.
No economic system is inflation-less, especially one as unregulated as bitcoin. Literally every time someone creates a credit debt in an economic system is the literal same as printing more money. Every time a debt is paid, it's as if you flushed the money. Without some guidelines, or a ban on the practice, no currency system is safe from credit cycles and the eventual rigging of the system to consolidate funds in the hands of a few. Worse yet, a system that depends on as much trust as bitcoin, with few barriers to exit, has not much chance of survival.
Just because you know how to play the game of capitalism, doesn't mean you know the rules of the game.
Cameron Gray
Get a real job you delusional idiot. Even by 2020 there'll still be a bear market and you'll just move the goalposts again.
Shut the fuck up you white nerd, I can hear your nasal voice over the internet.
Jeremiah Parker
im too stupid to understand what you said, i just like the picture. its funny. makes me laugh. ha. ha.
Caleb Brooks
Here is my two concerns with BTC
A.) It can be parted into 1000,000,000 units so much for muh only 21m
B.) Quantum computing wrecking BTC wallets in the future
....
Liam Carter
Are you medically retarded?
Eli Howard
>difficult to understand
is biz really that retarded?
Kayden Watson
i'm sure this has been answered somewhere, but what's to stop a government(s) from using blockchain tech to create their own version? They could easily arm twist everyone legit into using it, yes? that's not to say BTC would disappear or anything
Isaiah Powell
Pretty sure if quantum computers reveal that there are no hard problems that we'll also be able to cure all diseases and do some pretty exotic stuff. But as long as there are hard problems that our machines cannot instantly break, there will be cryptography, which means there will be Bitcoin.
Aaron Brown
>tfw unironically did buy at $12 in 2012 and hodld ever since missed out on the message from the future tho
There is nothing to stop this, in fact it would be extremely beneficial for them to do so.
Tax fraud would be a thing of the past, as all transaction would be transparent to our overlords and they can issue/remove tokens from supply as desired.
From my brainlet perspective, the fear is that no encryption method in our current paradigm will be able to withstand a bruteforce attack from a quantum computer.
The first entity to create one will have complete access to all of the information/digital resources in the world
Jacob Scott
Nice argument retard, u literal retard
Brandon Hughes
you're a late adopter. There's literally one thing keeping bitcoin from falling into three digits, and that's hope for an ETF and in general 'muh institutional money'. When that option either pans out, or is categorically denied, btc is finished. It's nothing but a decentralized ponzi. Adoption died in December along with $100 fees.
Mason Moore
only delusional late adopters think bitcoin can stagnate while alts will go up.
Sebastian Jones
>The first entity to create one will have complete access to all of the information/digital resources in the world
Do you think quantum computers will be able to generate private keys from public addresses? I can see breaking a private key from a public key, but getting a private key from a public address seems like it would be a much more complex problem -- possibly enough to buy some time.
Seems the only way to be safe is to keep information offline or in an analog format.
Jose Nelson
i know about chainlink
Evan Carter
My problem with dollars is that each can be parted into 100 units called cents.
Ryan Ramirez
more than that, bitcoin is actually deflating because of people losing wallets, passwords and hackers messing up code that results in irretrievable private keys we probably wont even get to 20.5 million actual coins
Eli Cruz
Quantum computing only wrecks the current version of bitcoin, but you easily fork and update its code, this is integral to the crypto/blockchain system
also, you can already do this with contemporary computers - instead of guessing hashes you can easily start guessing private keys, but guess what: its not profitable and it probably won't be in the future. you can use the same computational power to just mine blocks instead also also, if you use quantum computers to break blockchain wallets, you're ruining the value of the reward that you're getting by breaking the system. its a big nope
we'll have and have solved bigger problems based on encryption once we get quantum computers
Ethan Edwards
DELUDED E L U D E D
John Gray
yeah I worry about the divisible part too. I mean it is only to the 8th decimal, so not entirely infinite but pretty damn close
Jose Roberts
you'd be surprised, only having heard about it doesn't count as "knowing"
Tyler Morris
this makes sense. thanks for explaining it so well will try and buy 1 bitcoin next month
Jacob Reyes
>The first entity to create one will have complete access to all of the information/digital resources in the world And would be unable to use it: the instant they did, everything everywhere would turn to ash. Quantum breaking of encryption would have the same effect as a worldwide EMP. Who would set that off, when nothing would save their own money from it?
Owen Nelson
$1 Bitcoin is a scam $30 Bitcoin is a scam $400 Bitcoin is a scam $1000 Bitcoin is a scam $20000 Bitcoin is a scam $100000 Bitcoin is a scam $1000000 Bitcoin is a scam
