Red pill me on the current state of bitcoin

There are literally a total of two groups of people answering:

Shills and massive fucking bagholders, who for some reason still talk it up.
Or people in the real world that know it's over.

Honestly we've had ten years of hearing how cryptocurrencies in general have this "potential" and can do all these cool things and all we've had in practice is ransomware and buying drugs online.

AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

Know a couple of guys who went in to bitcoin mining when it all started, and how smug they were when it exploded and they had a headstart and claiming about how much their bitcoins were worth in real money.
Now several years later they are all still working their dayjob and when you ask them about it they try to change the subject and get mad when you keep asking about it.
In short, i have never met anybody who has cashed in on bitcoins.

it's a bubble that burst, it will normalise at around 300usd I would image

I had half a mil at 20 from it. Now down to my last 50k in bitcoin 50k in cash. Going absolutely all in or I throw myself of a building. Turned down Cambridge and going to live at geriatric grans house for a few years until the bullrun starts. probably will kms after cause of how shity my life is anyway but this gets tme through at tthe moment.

It WILL be 1 mil by 2030 I just fucking know it.

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cope

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Bitcoin went from something useful and free to unstable and unusable piece of shit, thanks to retards who speculated with it

Bitcoin? More like Drugcoin am I right?

bubble a it's

COPE

Screenshot this post 1mil per bitcoin 2030 I will be worth 20 mil after tax 2030

Only if you are stupid, thats how free stuff works, the smart reap all the profit, while the stupid die away. This is good. I made quick runs, and cashed out right before the peak of every bubble so far. Now I am buying for cheap again. All-in-all my initial investment was $11k back in 2012 and I have a 1,7m right now. While having a steady job and very diversified funds from 3 other sources.

I guess retards will always stay poor.

it's a bubble

This is how I imagine you:
>Breathes in
>Forgets to breathe out
>Dies

Mr. Millionaire, do you own an iPhone or other apple device?
I want to confirm meme, that if you don't own apple products you're poor.

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I have Mac Book Pro, and I use one at work as well and I am far from "Millionaire". I have more than in assets, such as property and precious metals. I have an android phone, which I use only for calls/texts, try to stay away from the "botnet".

On the otherhand, my wife does have all the iphone, ipad, mac book and a mac.

>all we've had in practice is ransomware and buying drugs online.
Which is a good enough reason to buy Monero or some other privacy related coin, as it fulfills that process a lot better.

Not at current prices, though.

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Bitcoin will go a higher than 20k eventually if scalability problems are resolved, but all the get rich quick retards will leave for a few years and come back when it bubbles again. Smart money will buy when it flatlines for years and progress is made on the underlying technology.

Ah, so you ARE poor.
So far so good.
I bet devices of your wife are older than a year. Couldn't afford apple watch for your wife?
Yikes!

Poorfag here.

If you want easy money you can follow a trent like a retard if you want, you can get lucky or all can explode in your face.

Truth make money is the easy part, is how you use it where do you expend it, thats what determines if you get rich.

The moment i understood that i just stopped worrying, its like that simpsons episode where Mr Burns gets poor and gets rich by recycling, is all about how you use what you have.

So shitcoins? Go ahead, just dont be a holder and learn your shit. You are going to lose money, but also win a lot, just ve smart.

Why should I listen to a poorfags advice about making money

Now you are getting it.

It's going down. Just like stocks, bonds, real estate, crude oil, and precious metals.

The US economy is tanking and Americans are in a liquidity race to get their wealth out of various assets back into fiat so they can pay their bills.

Jow Forums doesn't pay attention to the economy outside of crypto though, and even that only so far as it affects GPU prices.

>This is what ancap brainlets think it will happen.

Not poor, but not filthy rich, I am still gonna go to work every day the next 10-15 years before I can retire at around 40. And I dont buy shit for my wife, she got her own job and income.

But I am definitely on the plus side when it comes to my initial investment/time-spent on the crypto shit.

Bitcoin is shit, and a replacement isn't ready for global usage yet. If Bitcoin goes 'mainstream' (and not the 'mainstream' of last year's futures, I mean people actually try using Bitcoin on-chain) crypto is fucked because Bitcoin is shit, and crypto and Bitcoin will be linked forever in everyone's mind. It's better for Bitcoin to slowly die until most likely Monero can use Ethereum's scaling research, then cryptocurrency can be seen in public without getting shot on sight.

Price wise, Bitcoin isn't actually die unless some government intervenes.

>I was able to find a greater fool to buy my junk assets
>this makes me smart and not just some lucky retard who is larping.

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>until most likely Monero can use Ethereum's scaling research
Please be true and not just an asspull.

Heh, keep telling yourself successful people have luck, and not smarts or work harder/more than you.

Also even if I found a greater fool than me, that technically makes me smarter compared to him.

Have never heard of it IRL exceot for when it peaked at 13k, once, on the TV. Have never come across any service that accepted it.

Oh yeah, and when I was looking at why GPU prices were so damn high.

7/13 good speculation gimmick

>Jow Forums doesn't pay attention to the economy outside of crypto though, and even that only so far as it affects GPU prices.
>Have never heard of it IRL exceot for when it peaked at 13k, once, on the TV
>Oh yeah, and when I was looking at why GPU prices were so damn high.

Most rich people were born with rich parents. And if you are pretty well off by a global standard you very probably were born into a wealthy country rather than a poor one.

The major part is just luck.

I mined bitcoin when I learned about it at about 40 cents, was mining about 15 coins a day on a single HD5870 and turning them into paypal money almost immediately. I posted on Jow Forums bragging how my $200 GPU was earning me $15 a day and everyone ignored it. I started like 2 threads a day and they slid into nothing each time or people told me to fuck off because it wasn't possible.

I massed up 1500 btc and sold it on mtgox for about $5 each figuring that was the peak. I used $5000 of it to get a bigger motorcycle to drive to another country, to lose my virginity to a 4channer, Crashed and lost the bike after driving 18 hours to see her, but lost my virginity then got arrested and ditched (she was 16), and then watched bitcoin soar while my life went off the rails to hell. Then I started thinking "if I didn't give into women I'd have $3 million" and shit like that. 8 years later I still think of that 16yo every day and all the bullshit surrounding it. Everything was awful.

Also I showed the business owner of the computer shop i worked at Bitcoin at $0.40. I spent days showing him everything, explaining the hardware and the whole system, he made fucking millions on it because he invested thousands at the $2 mark. He cashed in a bunch at $30 to buy vehicles, held tons more, got married, bought a house, SOLD THE PC SHOP, and basically retired because he used a lot to invest in real estate. He's still holding a lot of it. He sold the shop after falling through with promises of raises. I went homeless while working for him. Guy did not even thank me at any point.

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Where is the bottom, guys?

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Serious answer
The value of bitcoin is the market cap of the drugs and CP purchased through it.
Bitcoin has no inherent value and is only useful as a means of transaction of USD from one guy to another. And as a means of transaction it doesn't matter whether it costs 1000$ or 0.1$
>dude sends another dude 1000Btc to but 10$ of stuff
>the other dude immediatelly exchanges them back to USD
>BTC price doesn't matter as long as it didn't change signficantly during the time of transaction
So go figure how large is the black market cap, and divide it by ALL the memecoins.

>inb4 fiat Dollars has no inherent value either
wrong, it's tied to the mionimum wage and is guaranteed to but me labor of american workers

Whenever the FED stops putting strain on the economy with interest rate hikes.

If you have your wealth anywhere but fiat this month you're getting fucked.

>the dollar is tied to the minimum wage
I hope you realize that you just vomited a bunch of words that don't mean anything in sequence with each other. The USD used to be backed by gold, now it's backed by the threat of violence from the US military industrial complex. Go ask Saddam Hussein or Muammar Gaddafi what the dollar is backed by, I promise they won't tell you "the minimum wage".

Well that's a different story, In reality EVERYTHING is based on vilence, every law or regulation is a threat of vilence from police on a high level of abstraction.
>Don't do small crimes or the men with guns will come and take your money
>Dont do big crimes or the men with guns will come and kill you
Men with guns is the low level mechanism behing everything.

Our guys managed to protect Assad, I believe we only let Gaddhafi fall because before Crimea we didn't know that NATO are cucks and wont intervene.

Whatever.
The OFFICIAL idea behind fiat is that it is guaranteed to buy me sometthing in the US, since US citizens are MANDATED (by the threat of violence from police) to work for USD and nothing else, not gold coins, not bottle caps. if you wanted to work for caps, that would be illegal.

>The OFFICIAL idea behind fiat is that it is guaranteed to buy me sometthing in the US, since US citizens are MANDATED (by the threat of violence from police) to work for USD and nothing else, not gold coins, not bottle caps. if you wanted to work for caps, that would be illegal.
The minimum wage is just a cartel racket applied to the concept of labor. It has nothing to do with the value of the dollar because "an hour" is not a measure of work.

The idea behind fiat currency is to give the central banks the ability to inflate it via "stimulus", give handouts to their buddies in the banking industry to buy stocks from corporate whores and decrease the value of the money in your wallet.

Fiat money is a representation of value, that value is equal to the fiat currency's representative share of the overall GDP of the country. Central banks print more money, GDP stays the same, your money is worth less. It's really not that complicated of a game.

HOOOOLD

After this fall if it will rise up again it will be the last time, since right now all the holders are shitting their pants and will sell all at the minimum opportunity