Bitcoin has no inherent value

>bitcoin has no inherent value
>I literally don't understand Proof of Work or the double spending problem

Jesus, you stupid people need to research the technology more. Here's quick 3 minute introduction to why bitcoin is valuable:

youtube.com/watch?v=7etOh0YYqcc

Attached: NORMIES.jpg (720x764, 145K)

What a cringy pic kys

You have to go back.

holy shit i think there are faggots on here right now who think like op's pic

OH BOY THANKS user THAT TOTALLY EXPLAINED WHY A VIRTUAL CURRENCY IS WORTH MORE THAN GOLD BUT HAS NO INTRINSIC VALUE AND WHY ITS SO HARD TO CASH OUT MILLIONS OF DOLLARS WORTH OF BITCOIN.

kys faggot fuck

Even better when you pair
>bitcoin has no intrinsic value!
with
>bitcoin consumes too much electricity!
If it costs electricity to generate Bitcoin it has intrinsic value you dumb normies

51% has been breached. As of right now video is dinosaur. BTC is mined and owned by one entity 51% < x

Yeah just like everything else, and that value is as good as 0.

>double spending problem
So Bitcoin solves a problem that doesn't exist? I wonder how people were using money before Bitcoin was invented.

Go back to Jow ForumsBitcoin, normie

>If it costs electricity to generate Bitcoin it has intrinsic value you dumb normies

No? Just because something consumes energy doesnt mean it has value.

We'll never know user we're just to dumb.

Also, proof of work is outdated garbage that's equivalent to shitting the streets on a global level, and the double spending problem is solved in any DLT by default, be it crypto or not

Yea, like you’re brain r-tard

And your point is....?

I could make a cannon that fires shit into space, and that has zero intrinsic value. I'd need to figure out what to do with it, and nobody has figured out what to do with Bitcoin.

Bitcoin is just a giant Rube Goldberg machine. It wastes energy to solve problems that it created for itself.

gold price only 10% is explained by "instrict" value, 90% is speculative. oil price is too mostly speculative. stocks prices, especially tech stocks are supe speculative and fundamentals have in many cases nothing to do with pricings

Attached: 1387900219671_chloes-infectious-laugh.gif (312x290, 3.39M)

Can I get my electricity back? There is no intrinsic value. I can make an electric motor and run it 24-7 in my room. That's worth nothing.

If you remove oil from the world, modern society would collapse. If remove Bitcoin from the world, it would just create a tiny dent in the economy.

If by now you unironically think the bitcoin isnt a complete scam you might be retarded. Only reason to be in this shit is to try to make money by shorting, but good luck since its manipulated as fuck

Tiny is a vast overstatement, more like non existent

>I can make an electric motor and run it 24-7 in my room.

If you actually did that, then the motor would have value in your opinion. Because you spent real money, which has value to you, on something else that you deem to have more value then the money you spent on the electricity.

Of course, something that has value to you but to no one else is worth nothing to everyone else.

My shit has intrinsic value.

those long on bitcoin are beginning to act more and more like cult members.

What a weird thread on a crypto board.

kek. I love this meme. one of the first I saw when I first came to Jow Forums.

I made pic related around the time Hillary's book came out.

Attached: 150506695889.jpg (720x764, 316K)

Securing the network so people can use the coin as a superior (faster and cheaper) transfer of money through countries is a use you colossal faggot.
I should be happy that I'm profiting from idiots like you, but it's not worth it to just shit up my board.
Fuck off niggerkike.

Anyone who has ever had a levy wrongly placed on their bank account, or has had their wages wrongfully garnished knows full well that bitcoin has a LOT of intrinsic value.

MUCH MORE intrinsic value than the fiat currency normies like to jerk off over.

Attached: goy.jpg (300x231, 27K)