Was there ever anyone more Jow Forums than Satoshi Nakamoto?
Was there ever anyone more Jow Forums than Satoshi Nakamoto?
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its coming back
Heh my 50e investment is gonna make me a thounsandaire
I never understood you niggers, why would you want bitcoin to fail? The jews/banks/corporations dont own it, that should be enough make everyone instantly like it. It levels the playing field
>probably controlled by some Jew somewhere, nobody actually knows
>basically a new age ponzi scheme
Are you sure you niggers aren't just AnCaps, you fit the description?
I don't think you understand what fiat currency or ponzi schemes are user.
it's the best currency ever conceived.
A ponzi/pyramid scheme is a method of money extraction in which increasingly large amounts of people are pulled into the scheme, which in turn enriches the previous wave of investors temporarily. Eventually it collapses when people realize that it's all a farce.
Fiat currency is arbitrary value currency printed without a baseline (gold or labour value), which is created at a moment's notice from nothing.
It is apparently you that doesn't understand what either of them are.
The only reason you want it to succeed is because you put money in it.
I'm actually astonished niggers have yet to learn that Bitcoin is a ponzi. It went from 6K to 20K in just 1 year and then dropping all the way to 3K. People still haven't learned have they?
So many stocks went up 2-3x in this past year and their businesses are legitimate. Maybe if you spent some time not hyper-focused on a ponzi you'd have made money instead of losing it.
Nice copy/pasting. So then you realise that neither of those apply to bitcoin, brainlet.
It's not being used as a currency at all, an asset becomes a currency when it is relatively stable & actually utilized for trade, Bitcoin is a pump and dump asset that's manipulated by gigantic money. Nearly a trillion went into the crypto market, and nearly a trillion left it in a span of a year. Did you enjoy making people rich?
dude this was a buying opportunity. there is no resistance until $20k.
>Bitcoin needs internet to work
>Jews control the internet (ISPs)
KEEP ME POSTED
The "community" will be pozzed by trannys, faggots and kikes just like linux kernel. It's only a matter of time when it collapse, they've already split into Bitcoin and Bitcoin Cash.
You can't just throw the word Jow Forums into a thread that is clearly Jow Forums and expect to get away with it.
cryptos can be good but it has to be backed by gold
lol. That's an interesting trap you've got there. Say that someone doesn't have any idea what something is and when I went out of my way to type it from memory (which is why they're so poorly described); you just say I copy-pasted it. Funny.
>o then you realise that neither of those apply to bitcoin, brainlet.
On the contrary, they perfectly describe Bitcoin and crytopcurrencies in general. A ponzi scheme is an investment scheme in which people are investing in something that doesn't actually exist in the real world in any form. That's what happens with Bitcoin to real currency exchanges.
And it's electronic fiat because one random guy that nobody even knows can, in a manner of speaking, electronically print as much bitcoin as he wants without restricting because it isn't actually based on anything.
Those two things describe Bitcoin perfectly, actually. You dirty electronic jewniggers trying to rope people into it again is pathetic.
Yeah that solves the problem. Don't you need a (((license))) for that, by the way?
>On the contrary, they perfectly describe Bitcoin and crytopcurrencies in general. A ponzi scheme is an investment scheme in which people are investing in something that doesn't actually exist in the real world in any form. That's what happens with Bitcoin to real currency exchanges.
Does fiat money exist in the real world in any form? Before you say yes bear in mind that 97% of all money exists as numbers in some banks database. So that also makes fiat currency a ponzi scheme by your logic.
>And it's electronic fiat because one random guy that nobody even knows can, in a manner of speaking, electronically print as much bitcoin as he wants without restricting because it isn't actually based on anything.
Going to have to stop you there champ. Who is this mysterious person who can print as much bitcoin as they want at will? Last time I checked you needed to have mining equipment and a use a lot of electricity.
Let me guess, you're a boomer, aren't you?
gold if real
You guys are gonna get fucked. The US-China trade war is the only thing sustaining BTC.
do you ever ask who is getting rich when you change your dollars for euros and vice versa?
because the jew-controlled Fed and ECB have printed $4trn and $5trn respectively out of thin air since 2008, a sickening inflation of the money supply and devaluation of purchasing power
bitcoin is going to continue growing because there is immense value in a form of sound money that the central banks cannot debase.
and you will be crying about it on tunisian cycling forums for the rest of your life
>So that also makes fiat currency a ponzi scheme by your logic.
No. A ponzi scheme sucks money out of unwitting investors. Cryptocurrency exchanges for real life money makes purchasing the currency as a short term investment (which people do, so it applies) a form of electronic ponzi scheme.
>Going to have to stop you there champ. Who is this mysterious person who can print as much bitcoin as they want at will? Last time I checked you needed to have mining equipment and a use a lot of electricity.
Whoever created it (newsflash: nobody even knows who that is, which is a red flag in itself)? Everyday people need to "mine" for it, but whoever made and owns it obviously wouldn't have to. They can artificially inflate the supply in any manner they choose.
>Let me guess, you're a boomer, aren't you?
You're trying real hard with the insults, but it's not working. Feel free to keep trying, you reek of desperation.
Bitcoin is simply an asset - you can say exactly the same about any other investment. Muh ponzi scheme is just a way for you to disregard something you don't understand. Much in the same way people did about the Internet in the 90s.
They can't artificially inflate the supply. The total supply is capped at 21M and the only way to create any more is to mine it. For which there is already a huge competitive marketplace.
>The total supply is capped at 21M and the only way to create any more is to mine it.
And when they reach the cap, only biggest miners will survive, making decentralization a meme and ramping up transaction fees.
Alternatively everything will collapse before, and exchanges will just disappear (like few of them did already).
>The total supply is capped at 21M
And it's never even come close to that.
>the only way to create any more is to mine it.
The only way any regular person can get more (without buying more) is with mining. Once again; this rule obviously doesn't apply to the owner/s, who would have the capacity to create more out of thin air (because it's all made out of thin air) and exchange it slowly on the market without anyone noticing.
>Bitcoin is simply an asset - you can say exactly the same about any other investment.
No. Other investments have real world elements to them. What separates a ponzi scheme from a regular investment is that the ponzi scheme doesn't actually produce anything, and the people investing aren't actually investing in anything.
actually gold is a fiat currency too, just another token, it only works because people believe it
Because people are speculating, that's natural, Bitcoin has performed very well and people who bought low as a store of value have nothing to complain about, don't like the price when it crashes? Don't sell
But gold has a measurable scarcity. That's not how fiat works. The lack of measurable or any objective scarcity is what makes fiat currency fiat currency.
2017' and now this price rally seem suspiciously artificial - its all too fast to be organic
its as if big money is collectively & anonymously pumping large amounts
cryptotards being the sheeple brainlets they are think its an expression of true demand and pump in their mom's trustfund money
obviously there will be a new crash like in dec '17 with mass pink woijaks reentering the McD work force
Gold is not fiat.
Satoshi is actually Soros
Everything has a measurable scarcity or lack thereof including bitcoin, once the last one is mined then that's it
the plan is to hurt crypto's reputation by making it seem a hyperspeculative money stove
the naive everyday investor has to be protected from this, we need more regulations and bans
yes it is
People who walked into a casino and won have nothing to complain about either. That's what bitcoin is, and all crypto - a gamble. The concentration of degenerate gamblers in that game is extremely high. Any of them who deny it are only showing their mental disease.
By all means, play with crypto - but NEVER invest in it.
There is no way to create bitcoin 'out of thin air'. You've probably read this on some boomer website you like to frequent, or perhaps reddit - but I can assure you it is not the case.
Although there is no 'real world element' this does not mean that it does not have value. Bitcoin is a global payment network operating 24/7 with transactions that cannot be stopped or censored. Do you truly think this has zero value? The Internet itself is no more than a network of computers operating on a certain protocol yet it clearly has value. With bitcoin however in order to use this network you must purchase a piece of this protocol (BTC). That is what makes BTC so valuable. You are purchasing real estate of the Internet of money.
I'm done trying to convince you. You can stay a poorfag and fomo in at 100k with the rest of the normies.
no, people just need to use it as a store of value, as the volatility dies down the speculators will move on
Gold has intrinsic value. It is the best conductor in the world. It has not been established as money - it's been given a value against actual fiat. Gold is not fiat.
what do you think interest is?
that money isnt created when the loan is made therefore creating a scarcity at whatever the rate of the loan is
I agree to a degree, ATM it's risky but everything is risky. I wouldn't suggest anyone put more than they're willing to lose into it but I would suggest everyone buy a little and simply hold on to it
Once people realise that it's a digital gold with many advantages as a store of value then who knows where it might go
What a fucking faggot
Wasn't there a Wall Street bro who said that the goal was for Bitcoin to fail and then some banker controlled currency to take its place?
Bitcoin was created by man and if you buy the "that's it" once the blockchain has been completely mined, then I have a bridge to sell you. However, if you can pull of literal alchemy then none of this is relevant as you'd be the richest person in the world until someone else figures out how to create gold.
Keep shilling btc harder though. FOMO is real, people actually fall for it.
Right...unless the chinese own over 50% and start blocking transactions.
Has happened, will happen again.
Gold is fiat and everything has intrinsic value or lack thereof, gold only seems like it's non fiat to you because you have absolute faith in it, without the collective faith it's worth no more than it's value as a material with certain properties
I did the KYC bullshit through Kraken. Will they report me to the Jew if I cash out in the future? Fuck... I suck with this kind of stuff.
My understanding is guy shills bitcoin at the start and makes a small investment into it "something like 20k which isnt fucking small at all" and then creates a fucking artificial demand via hype for buttboins so prices skyrocket and then he fucking sells his entire bitcoin stock becomes mega rich then never reinvests in bitcoin again.
I dont know
I dont have any bitcoin,
and no one will give me any so my wallets empty...
feels the same as jew money to me :(
I'm not shilling it, I'm merely pointing out that it's a very new thing and you'd be a literal retard not to get in on it even in small way
People have been saying what you're saying since the beginning yet if you'd bought a 100 bucks back then and simply held it, you'd be a very rich man today
Technical difficulties will slowly be overcome, it's evolution
No, it doesn't. You can get all semantic on me by claiming that everything has scarcity, and you'd be right. But we're talking about human levels of interaction here, not cosmic levels. Literally nobody is measuring energy consumption ticking down to the heat death of the universe here. Bitcoin doesn't have any establish basis, it's not existing in reality. A string of 0's and 1's that any retard with limited coding experience could've theoretically created doesn't compare to gold: something that cannot be manufactured from nothing with almost no energy consumption.
No, it isn't. Can you please take a few moments to find out what the word actually means.
>There is no way to create bitcoin 'out of thin air'.
So you're saying Bitcoin existed before bitcoin existed? It's been around since the 1600's or any other time prior to 2009?
Of course it can be created out of thin air in the manner you know we're talking about. You can try some heat death shit like someone else did, but that's entirely disingenuous and nihilistic in outlook and absolutely not relevant.
>what do you think interest is?
yeah man licensed buttcoin vending machines inside liquor stores in the fucking ghetto
So are GPU prices gonna skyrocket again?
but your faith in gold doesn't exist in the real world either, gold has no real world value, only the collective faith in gold has value
Gold is fiat, meaning it's a representation of work done/goods produced
>Gold is fiat
Can you please stop responding to me for like 5 minutes and search the definition of the word. You're running around saying "water is dry" right now. It's not hard, see:
>"Fiat money is a currency without intrinsic value that has been established as money, often by government regulation."
Gold has intrinsic value, fiat currency does not.
Satoshi is so Jow Forums, he literally has the sticky hanging in his office at all times.
Ignore the sad nocoiners who are bitter they didn't get rich quick in crypto
Buy a little bitcoin, and forget about it, look at it like a gamble on something absolutely new, yes you might lose your money, your wallet password or hardware but if you're smart you'll back it up. So don't buy more than you're willing to lose and you never know, in 2 years or 5, or 10 anything could happen and you'll have a piece of it
I explained it to you, intrinsic value doesn't really mean anything does it
Gold does not have any intrinsic value beyond it's uses as a material, it's only the faith in gold that gives it it's value
Therefore gold is a fiat currency
Stay mad tho
Shitcoin is a scam:
1. Not backed by any sovereign government
2. Value driven by media hype and ponzi scamming
3. Nobody wants to buy or sell it due to hoarding
4. The only people who stand to win are those who've already bought in
It might go through several boom/bust scam cycles, but it'll never be a real currency
>therefore water is dry
>because I say it is
We're not arguing over the subjective theory of value here. We know all value is subjective. But you're in over your head blasting out words you don't know the definition of.
meme, when every nation in the world is having it's sovereignty attacked by the same megalomaniacal bankers who don't want you to buy bitcoin
Everything you say is wrong but you're a leaf so
gold value is just a representation of stored labour
it has intrinsic value as a rare metal, and as a display of wealth, but its just stored and tradeable labour, which is infinity preferable to debt back money, but gold isnt the best store because it can be cut, shaved and altered in various ways
>but gold isnt the best store because it can be cut, shaved and altered in various ways
This is true, but that's a fault of human observation and planning and not the fault of the gold itself, which is material outside of human existence.
you are either a 16 year old faggot who will never make a ROI or so new it's funny. They will never allow a competitor currency without having a controlling interest, wars have been fought for this very reason and it is not going to change. Shitcoin will never be able to beat this either, since the fed can manipulate the value of currency indefinitely to win vis a vis shitcoin. It will exist only as a form of ponzi stock market derivative from USD
I saw Bitcoin skyrocketing last week so I put in €50. Look at the fucking dip it look the last 24hrs.
You're replying to the wrong poster but you're a leaf so
I've been through all this ITT
Everything has a scarcity or lack thereof and everything is measured by it's relationship in value to something else, gold has no intrinsic value in the same way copper has no intrinsic value beyond their usefulness as a material. The added value given to gold is only maintained through the collective belief in it's value beyond that in the same way that what you describe as "fiat" currency only has value because of the collective belief in it's value
ya, i dont know what the answer is because everything can be gamed
gold and silver were very good because you couldn't make some in your workshop, you had to invest labour to pull it from the ground, eliminating profiteering to a point
>no intrinsic value
>has intrinsic value as a material
stfu jew, go back to holland
Wrong again leaftard
Whilst some of what you say may happen, it also may not and if you read my other posts you'll see that I'm not advocating anyone put a large amount of money into it so whatever
Damn a whole week and you ain't rich yet, fuggin shitcoins
Don't worry about it, just don't sell it and keep it safe
It sounds like you have a very tenuous grasp of what bitcoin actually is and who holds the majority.
>eastern european cyber criminals
There's no one to fight, and at this point i doubt a 51% attack could even happen.
gl shilling to the smoothbrains on leddit, faggot
You're being purposely obtuse, gold isn't that useful a material, it's value certainly is no reflection of it's intrinsic usefulness
it's open source and distributed you brainlet. We know exactly how it works and it has no central authority. Is bitorrtent controlled by some jew somewhere too?
PS: the USD is
How to wilt shitcoin:
>mandate as medium of exchange & shake down all business buyers
>ensure USD is the sole medium of fed transactions thereby ensure it has more value to begin with
>manipulate the USD rate of exchange
doomed from the outset by hoarding and you shills can't do a thing
its value, is the labour required to extract it, its usefulness, the demand for it, and available supply, and to an extent what people have to trade you for it
your mind cant even perceive a world not dominated by usury and debt, can you?
Clearly I won this thread anyway
But like I say Anons, buy a little BTC and keep it safe, you can thank me in the rapture
That's exactly what jews promote
So you're saying then that nobody created it? That it appeared out of nowhere or always existed? No of course it didn't. Someone created bitcoin and the system. Are you really telling me they have no control over anything now? That's naivety of the worst kind.
I never said it had a central "authority" in the same way you can use that word.
in the same way you can use that word when referring to other fiat currency*
I agree and I personally wouldn't advocate a cashless society but crypto can in fact be used just like cash without the need for bits of paper.
My anonymous wallet can pay your anonymous wallet in the same way I can give you a piece of paper
So this isn't really a valid argument, as long as cryptos can stay independent of central banks control then it's not the sort of cashless society they want
As we all know their next orchestrated financial collapse is long overdue and when it does come it's going to be the biggest crash in history and many people will suffer greatly at the hands of the greedy big nosed bankers
When that crash comes no one knows what it will mean for cryptos, we've never had a crash and widespread crypto adoption, anything could happen and probably will
You'd have to be a complete leaf not to realise that having a little money in a new technology that can directly compete with the existing and failing one might be a good idea, there's a potential paradigm shift on the way and if you're not in it you can't win it
They've tried and failed, FUD is their only weapon and it's not working.
Even if they banned all exchanges, people can still mine.
Bitcoin survived when there were no fiat exchanges, and now there's a whole host of other crypto currency that can and is exchanged.
I don't know about Kraken but Coinbase is insured by the FDIC. And don't forget that crypto to crypto transactions are taxable events so if you're buying alts with BTC you're screwed. But if you're new with this stuff don't bother with alts, stick to BTC.
As the user says we know whoever created bitcoin has no control over it because it is open source. The code has been well studied and upgraded by the community. That is like saying linus torvalds could take over your Linux computer or shut the project down. No he couldn't as the code is out there for everyone to use and reproduce.
Craig S. Wright will win
boom/bust cycles of ponzi built on fleecing sheeple? Growth industry lmao
You don't even know what a Ponzi scheme is.
It's your coping mechanism, just because the original utilization of Ponzi was for a very specific tactic, does not mean the message does not get across. Language is malleable, but I guess when people want to cope they go for strict definitions.
CHAIN LINK 1K EOY