Is this the power of AnCaps???

>buttcoin
Jow Forums pls go

All money is a meme based on confidence.

It doesn’t take a million Chinese mining rigs to prop up the USD

not bad

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If you want a good laugh go and look at the denial and shit slinging happening on Jow Forums

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All I see is pink Wojaks and people asking about best methods to commit suicide.

Yes

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youtube.com/watch?v=IOlvOiGPPio

they dont even understand the real magnitude of what is happening

craig wright has created a new paradigm not for money, but for ECONOMIC/AI WARFARE

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Because the supply is totally limited , there will be a total of 21m bitcoins.

The real reason why btc price increases is not because retards holdings but because it´s the sepa / swift of the develepening world and third world.

So when you are in latin america or africa for example and buy 0.0089 to pay for a videogame or top up a debit card you are increasing the marketcap.

Bitcoin payment platforms pay the merchant in usd , but they keep and sell the bitcoin after.
Since the supply is limited and international wires are constantly every 4 years after each halving(the supply reduction in the algorithm) the bitcoin price explodes.

Because the people using it for international wires keep using and all of the sudden the ammount of btc being sold is reduced(because the miners get less reward and there are less btc in the market).

The fact that we reached the floor faster than expected and all of the sudden in december , means that retards that bought at 20k are surrendering to have some money for christmass and the end of the year.

Weak hands leaving means that the next bullrun will surpass 20k easy.

>>actually believes this

hanging out on Jow Forums back when this board was not full of disgusting normies with tame political views literally changed my life circa 2011

>tfw worth low 8 digits because of some autistic ancap baited me into purchasing bitcoin early

thanks whomever you are

t. former degen now happy father of two beautiful white children

I don´t believe it , i lived it and have used it to pay for real life shit.

Trust me we are going to see a revoltion in international transactions all the freelance economy ,latin america ,africa , and now the us are all pissed off the banking system working like shit.

You can have your paypal account closed for the lulz , cards get blocked everytime for security reasons , fees keep rising in everything.

The crypto revolution is happening , go check the most demanded skill in freelance markets.

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>please buy my buttcoins
>I need to feed my dog

How do you even know that the floor has been reached? Even the link you posted has the floor at $500.

>those feels
fuck man, time flies... it can't be almost ten years already?

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He doesn't but see it this way:

if there's a 5% chance that Bitcoin becomes a hedge commodity (i.e included as a maximum risk asset in a basket of other commodities) then it's easily a x50, x100 price increase from the current pricepoint.

Compute the expected value, don't invest too much if you don't feel comfortable but these are pretty good odds (say you put $100):

0.05*10000 vs. 0.95*(-100)

You clearly have never been to Africa or Latin America. They could not give a flying fuck about bitcoin. They live hand to mouth.

>inflation is propping up bitcoin

galactic level iq detected

>he thinks the floor is above 1k

>economic autism

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401k you fucking imposter

>the supply is limited
>coiners still believe this dumb meme

There are over two thousand cryptocurrencies and anyone is allowed to create more. The supply is infinite.

youtube.com/watch?v=lW3hHtP-lLc

Are you going to be a faggot and miss the bottom? you have till 2020.

Bitcoin has a limited supply, Bitcoin is the only one that matters.

there's a million anime board and only one Jow Forums

network effects don't carry over easily, that's why they are valuable

>The crypto revolution is happening

It isn't. If it was you would see movements in shitty meme coins like dogecoin.

The bitcoin bubble didn't occur because bitcoins are limited, or because of their value as a way to have anonymous transactions online, it occurred because of retarded speculators driving the price up, and it will continue to go down as those retarded speculators panic and drive the price down.

Coiners being superstitious, it's probably 666.66

>Are you going to be a faggot and miss the bottom?
I guess so.
>Bitcoin has a limited supply
So does hydrogen.
>Because the supply is totally limited , there will be a total of 21m bitcoins.
en.wikipedia.org/wiki/Bitcoin_scalability_problem
Gee how did they solve this? By modifying the protocol. If the protocol can be modified that means so can the total amount of Bitcoins.

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wagie wagie, back into your cagie.
and don't forget to garnish his wages mr bezos

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>Bitcoin has a limited supply

A limited supply that you'll never hit.

If the limit is hit, then you won't have miners performing the calculations that are needed for the transactions to be processed. The fact that bitcoins are "limited" is meaningless, because you can break a single bitcoin into nearly infinite pieces.

The limited supply of bitcoin only means that "1 bitcoin" represents more transactions as time progresses. So the question is, "what is the value of the computing power to create 1 bitcoin?"

I do see it being mass adopted into portfolios though. Especially considering that it contains inherent and uncertain risks relative to other commodities.

>i lived it and have used it to pay for real life shit.
But... why would Walmart ever adopt this?

/financiallyconservativefags/, for what price would you buy Bitcoins?

>stupid loser tries to pawn off his monopoly money before it reaches $0
Nice job investing in a currency that people only buy to get rich quick, making it impossible to get rich quick because nobody has any reason to buy when the price is high. I'm sure you're loaded with $6,000,000 worth of bitcoins, too bad there's no way to turn that into a form that can actually be used for business transactions.

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oh boy.

sold down, watch someone buy a shit load and boom the fomo back to 20k and beyond :)

Can you link a similar market that had followed this value trajectory?

Maybe a couple of Schrutebucks.

The irony being that he's technically holding on to "currency"; which he should be able to buy all sorts of wonderful assets like houses, cars, securities, etc. et al.

But no, speculative greed had destroyed another interesting idea. But hey, maybe he can buy some kick ass drugs with those shitcoins now?

We're already at 3k, I don't see how we don't go as low as 1k.

had to look up the backstory on that bogpic

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Could get shit load of hammer on the dork wib for that much crypto........

>graph is actually altered to fit the made up curve
I guess that's why it uses an increasing scale, so people can't look at the real charts and immediately know it's been forged.

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I'd probably put in 10K if it reaches a thousand and another 10K if it drops to 500.

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buy now idiots... how many times when it was 15-18k were people wishing they could have bought in at 3k-4k... there's a very finite amount of bitcoin, it'll get harder and harder to mine very soon... or don't buy lol, your loss.

>Price goes up 79500%
>Price dips 85%
>lolol hows your internet funny money taste now fags
Stay poor, Jow Forums

This is an entirely brand new asset class, which we haven't seen in over a century. Modern stock market would be closest equivalent. Shares of the East India Company (and other similar ventures) did something similar.
>"From 1602 to 1696, the (Dutch East India Company) paid a regular dividend that yielded from 12% to 63%. In 1634, VOC ships carrying tulip bulbs set off the infamous tulip bulb craze that resulted in a market crash. Despite a violent whipsaw in its share price—up 1,200% from the IPO price and back down to 300% from the IPO price—the company weathered the crash easily."

>muh tulips

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>and another 10k when it reaches 100

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The rapid rise of Bitcoin the other year was a pump-and-dump scheme by a few investment banks. It's just returning to its true value.

All-in when it reaches 50?

Because buying pressure gets higher and higher as price goes down. Waiting for it to go lower from here is like waiting for it to go higher after hitting 19k.

I'm sorry, but your analysis is unfounded then. I mean it looks pretty and bullish, but it appears emotionally based rather than using sound predictive modelling.

It may satiate your concerns, but I wouldn't show this to investors; they'd have better odds at a casino.

the lower the price gets the less profitable it is to mine bitcoin you retard. as less and less people mine shitcoin its price will continue to go down

because it might make sense financially for them to do so at some point

This assume a specualtive mono-market though. Investors have many different speculative markets to invest into and given the historic volatility/uncertaining of the coin, I doubt that it's retained its attractiveness.

Suprisingly, if the securities market busts, then there probably would be a shift in attention toward cryptocoin as a commodity investment.

Financial wise, Walmart is a retailer not a hedge fund. Their board would never approve of it.

Operations wise, it would be a disaster for a lean retailer to price their goods in crypto; the volatility could render them insolvent overnight.

I refer you back to
This has already happened three times before. This crash is nothing new. The need for fungible, permission-less money is not going away. Indeed, it's only going to continue to grow, especially if the multiple economic bubbles we're currently sitting on stop popping off. People are paying a 4x premium on Bitcoin in Venezuela, and they're happy to do so if it means holding on to their wealth.

Don't buy in just yet. We're nowhere near done with this bear market. But there's absolutely no reason to assume it won't begin to rise again eventually, especially with the next halving.

And eventually (worst case scenario) it will reach a point where it becomes profitable for regular games to mine it again. At which point the price will stabilize, and the cycle begins again.

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It's about to drop.
xe.com/currencycharts/?from=USD&to=EUR&view=10Y

“I call everything by it’s proper name because I’ve never had a water cooler chat.”

>to price their goods in crypto
why do they need to do this? can't they adjust the price to the local currency?

also crypto isn't just about Bitcoin. There is a lot of development going on into blockchain technology and smart contracts

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>e need for fungible, permission-less money is not going away.
But that's the fundamental problem that all us nay-sayers have been screaming all this time. You keep treating it as a commodity, while touting it's viability as a currency. It can't function as both with that level of volatility. People will not conduct business with it if the value increases/decrease by double digits every day. This ultimately makes the implicit value of cryptocurrencies as a currency negligible; rendering it primarily as a speculation vehicle.

I blame the exchanges. The liquidity in exchanging cyrpto for real world currencies is self-defeating. If they enclosed the crypto-economy within a microcosm, with limited exchange into real currencies, then it would've been a viable alternative, trustworthy, and discrete alternative.

Does anyone have mcafee saying half a million by 2019?

No just an army base in virtually every nation to force nations to use USD to buy crude.

>You keep treating it as a commodity, while touting it's viability as a currency. It can't function as both
>what is gold

If walmart bought their inventory at $4000 BTC, and it goes to $3000 in a week, then nothing they can do will make selling that inventory profitable. Sure the opposite could happen, and they could make a huge windfall. But why would a multi-billion dollar business take on that kind of risk over something they have virtually no control over? Limited upside and existential downside based on market whims?

You need to stop looking at bitcoin from a poor man's perspective. When you have nothing, speculation seems great. You can hold onto something small and hope it balloons into thousands, maybe millions. If not, you're still poor so no loss. But if you're already rich, why would want to risk losing billions for billions? This is how a big corporation thinks and why they will never adopt crypto as a currency.

Which leads to your next part
>There is a lot of development going on into blockchain technology and smart contracts
I'm sure there is. But what do these things do that isn't already done currently? We already have systems in this place, and while not perfect, the blockchain developments haven't been adopted en masse by any industry. Perhaps it's because the market doesn't believe they are as valuable as speculators think they are. So either the market is too stupid (highly unlikely) or the speculators are overly optimistic (very likely).

Go to your local 7-11 and try to pay in gold.

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>I'm sure there is. But what do these things do that isn't already done currently? We already have systems in this place, and while not perfect, the blockchain developments haven't been adopted en masse by any industry. Perhaps it's because the market doesn't believe they are as valuable as speculators think they are. So either the market is too stupid (highly unlikely) or the speculators are overly optimistic (very likely).

These things filter out tons of need for trusted third parties in any industry. Law and supply chain could be crushed, or at least severely whittled out and forced to innovate.

You are correct though that the tech apparently isn't there yet in a way that's useful enough for mass adoption. Anyone thinking they still have a chance at "get rich quick" crypto can gamble on alt-shit but you're under informed if you aren't aware of the inherent utilities of the idea. Long term, there will be a successful cryptocurrency. Since bitcoin is kind of a de facto reserve currency, it makes perfect sense to hold some.

I am waiting for some buy signals in the coming months but I got two crypto wallets for 50% off on black Friday.

It's a log scale retard. Commonly used for long period charts

I think it's sensible to have a minor stake in a bitcoin for the hell of it, when it bottoms out of course. But people overleveraging themselves, taking out mortgages, was completely retarded.

As for the blockchain adoption, I think you touched upon the inundation of alt-shit that has flooded the market. It's too difficult for a rational adopter to separate the wheat from the chaff. Imagine if you're a CTO of a major healthcare provider and you're looking into blockchain for a solution. You'll have 500 white papers each with their own spin (most with some kind of sleazy coin monitization attached, which the proprietor conveniently has the lion's share) that you'd have to sift through. Since no one else in the industry has adopted one, there is no standardization, so you have no clue if any one of them functions outside of theory. Meanwhile your current system, while imperfect, still services the day-to-day needs. So rather thank risk it, you pass on blockchain.

Fundamentally, you have a decentralized industry of blockchain entrepreneurs pushing a decentralized idea. It's going to be near impossible to get this adopted by centralized institutions and industries. The best bet is to put personal greed aside (again near impossible for the libertarian types behind this), and work on consolidation these blockchain ideas into a singular cohesive vision. So rather than 500 whitepapers, you have have a couple of really good well thought out ideas for implementation. I am doubtful though given my observations of the blockchain/crypto community.

bitcoin is a scam for the sole fact it can be broken down to an astronomical number of fractions for trade and is valued against the dollar.

There is only 21 million in total but then multiply out the fractions its allowed to be traded in simpletons

this is like trading gold flakes

> (You)
>I think it's sensible to have a minor stake in a bitcoin for the hell of it, when it bottoms out of course. But people overleveraging themselves, taking out mortgages, was completely retarded.

Of course, but anyone mortgaging to buy near ATHs really deserves to get their ass handed to them.

>As for the blockchain adoption, I think you touched upon the inundation of alt-shit that has flooded the market....

I have to wonder if trust busting is coming on big tech. You couple that with a startup that utilizes blockchain in the right way, and easily we could have a new market hierarchy very quickly. You're thinking in a way described as "immanentizing the eschaton"

>Fundamentally, you have a decentralized industry of blockchain entrepreneurs pushing a decentralized idea....

Centralized industries are not set in stone forever. However, predicting disruption is kinda like predicting 9/11. It's going to be a black swan rearing its head.

Fwiw I think we agree on 80%, we just have different preferences of where to place our faiths.

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if they want to dilute it they just add another 0 on the right side of the decimal instead of the left. think mirror

>relying on spics, mongrels and niggers to make decisions that require intelligence

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I'm waiting to start dollar cost averaging when it drops below 2 and half grand now

it also takes 40 minutes to spend and requires massive computing power to use.

its a fucking retarded system and it will either fail with cryptocurrency or be replaced by a better form eventually.

fucking bitcoin shits are total brainlets.

you retard you do realize its been over 10 fucking years now ye?
When you expect this magic revolution to come?
I don't know what the bottom is, but there are too many depressed boomers for it to not surpass 20k again

>adding a zero to the right of the decimal changes the value

Can't you see adults are talking?

>bitcoin is a scam for the sole fact it can be broken down to an astronomical number of fractions for trade
That doesn't make it a scam.
Divisibility is a positive trait in a currency.
Inflation is a negative, and bitcoin has a hard limit on it.
If it was as scarce as it is and also wasn't highly divisible, that would actually be a bad thing.

>buy bitcoins
>go broke
Sounds like is the board for this garbage

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Yeah I mean I'm not buying this whole current tech hype stuff with AI and fully autonomous vehicles and ubiquitous blockchain implementation. While some stuff will get commercialized and adopted, most of it is oversold smoke & mirror shit; instead of autonomous cars, we'll get a limited self-driving cruise control standardized in each vehicle. It all just seems like buzzwords and complicated jargon to lure rubes into opening their investment wallets.

We're told that everything's coming down the pike in 5-10 years, which is conveniently long enough to stall. Meanwhile, it's been 10 years and there's been virtually no meaningful innovation in the cell phone I carry (outside of the expected Moore's law performance). I think the industry is tapped out and running on fumes.

It really struck me hard after watching that Ben Goertzel interview on Joe Rogan, when I realized that we've reached the tipping point of a yet another AI Winter. The entire thing was pretty much talking about AGI like it already existed, despite there being nothing demonstrable outside the current expert systems masquerading as AI with maxed out neural net computation and lots of heuristic input. A lot of wo wo talk interchanging technology with magic.

I could be completely wrong, and the singularity could be near and I should repent. But I'm not gonna put my money on it. Tech is the new alchemy and people always have wanted to make gold from lead, nothing new.

Should I buy into this now? My boomer gandpa keeps telling me to invest my savings and I don't trust the stock market or 401k's.

I can do this.