Bitcoin 3700$

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I'm going to put some back in once it settles the fuck down

the (((stock market))) is heading for a huge recession and (((they))) don't want bitcoin to skyrocket instead of gold (which they've got a much larger percentage of) so they're dumping it

Totally ebin if bitcoin would find it's true value.

>we don't have enough bitcoins. What do we do?
>dump it.
Based jews IQ

how do you trade bitcoin for real money anyway

This will be the first recession where bitcoin is a thing

Remember that the recent financial crisis is WHY bitcoin exists.

In the long run it would be an absolutely monumental blow to all those organizations with gold reserves if some of the

sell it to someone and pay the tax

some of the gains they see in bear markets go instead into crypto

>pay the tax
Stopped reading your post after that

I would but apparently selling bitcoin for real money is annoying in Austarlia, Any aussies wanna enlighten me?

>my internet points are important guys!!!!1!!1!11

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>(((they))) don't want bitcoin to skyrocket instead of gold (which they've got a much larger percentage of) so they're dumping it
>Remember that the recent financial crisis is WHY bitcoin exists
>In the long run it would be an absolutely monumental blow to all those organizations with gold reserves

Woah, so this is the power of 90 IQ.

>the brainlet mutts are waking up

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yeah that 90 IQ that made me 600k, woe is me

good job on finally finishing a sentence Rajesh

>I made money on a volatile stock! I know the system!

You didn't get my implied point. First if they have so little how did they make it go from 19 (?)to sub 4? Second if they think bits are so good why would they crash it instead of profiting from that good?

I saw obvious value years ago and it remains today. Sorry you're salty that you didn't.

>gets lucky with internet points
>”look at me mom! I’ve figured out da joos!!!!”

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>true value
It doesn't have one

They don't have to buy and sell it directly, that shit is for fucking goyim

This whole bitcoin cash thing is manufactured - and you only need to dump certain amounts at certain times

You do realize that the entire crash was the result of mtgox selling coins at specific key points in order to pay their debts, right?

They just shifted momentum one way, they weren't the momentum themselves.

We figured them out long ago.

Like saying you're an investment genius because you jumped in on a pyramid scheme before others

It's literally a new asset class. That shit doesn't happen very often.

Brainlet here. I read an article a couple of years ago about the Bitcoin and how the original goal was to create a currency that would be resistant in a crisis and would be completely independent of central banks.
Is that still the goal of the project and they are just royally fucking it up or did it become another speculation object? On another note: Isn't the Bitcoin strongly dependent on other currencies? After all, a Bitcoin in itself is worth dick if you can't change it for a real currency.

>or did it become another speculation object
this

The primary problem is that the creator of bitcoin stayed psuedononymous and has not been heard from in years. So it's gone all over the place.

There's many theories on who he might have been (or if he was an organization).

I suspect he was Hal Finney, who is dead now.

Oh not only has he never been heard from, his wallets have like billions of $ in bitcoin and they have never been touched(!)

Do you believe gold is a speculation object?

bitcoin failed miserably as a mean of payment, because bitcoin transaction are expensive and slow, especially in December 2017 when bitcoin hit 20k and there were gorillion of transactions around, you had to pay huge fee and wait literal hours to transfer anything
so it became literally useless and it spawned lots of altcoins that are almost instant and without any fee, but nobody seems to be much interested in it, everyone is there just to make some quick money and leave

currency can't be independent of large holders of it

we would be talking about some sort of a scenario where everybody is of equal level

bitcoin is controlled by its own banks

The king is dead, long live the king!

bitcoin is the telegraph
one of the next coins will be the telephone
then one will be DARPAnet
then the Internet

No.

Why? The reason gold is valuable is because it is scarce. It's not like oil where it is objectively valuable, it's just a store of value because people agree it is and it's hard to get.

Fundamentally bitcoin is the same concept, but with far better technological advantages over it.

>tf this thread
Aren't Germans supposed to be intelligent?

ever since man could dig man has had appreciation for gold

every single human culture considered it pricy (not verified by any facts)

wtf is bitcoin in comparison to that

2.0 (alpha version)

that's how they explain everything in star trek, by mumbo jumbo that sounds smart

lmao, remember all the 100k by december predictions?

Brainlet here, are the Bitcoin founders still working on the Bitcoin network or is everything is already in the code?

Gold has actual uses you dumb NEET

why would people put money in crypto during a recession? are you retarded?
People put money in gold because it's a safe investment, we've been using gold for thousands of years, bitcoin on the other hand has gone from 3k to 20k to 4k in just one year.

Which are completely decoupled from its value, you stupid nigger.

cretin
the gold standard created the great depression

Gold doesn't jump around to a multiple of its value.
God exists on physical form.
Gold has uses in electronics and jewlry.
Gold is needed for restauration of old buildings.
Gold is used as a depot by Nations.

Naive incel. The stability of gold that had been for centuries made into something that changes slowly but steadily and is therefore perfe3ctly suited as a long term investment.

Bitcoin is an entire speculative product. It's value rises and dies entirely from people whop want it or not. Bitcoint will stabilze around 900$ per coin next year beginning of february.

It will always have a little value (300-400$ Propably longterm) since it is in good use as form of payment to order drugs online.

Gold is a mechanism by which people can make gains in bear markets. That is its purpose and function in the modern era.

I will leave it to you to solve for who utilizes this functionality

Gold also doesn't rust

>he also doesn't realize that "physical uses" are a meme and have nothing to do with its actual value
I guess this misconception is not limited to mutts.

Some economic studies have indicated that just as the downturn was spread worldwide by the rigidities of the Gold Standard, it was suspending gold convertibility (or devaluing the currency in gold terms) that did the most to make recovery possible.[65]

Every major currency left the gold standard during the Great Depression. The UK was the first to do so. Facing speculative attacks on the pound and depleting gold reserves, in September 1931 the Bank of England ceased exchanging pound notes for gold and the pound was floated on foreign exchange markets.

The UK, Japan, and the Scandinavian countries left the gold standard in 1931. Other countries, such as Italy and the U.S., remained on the gold standard into 1932 or 1933, while a few countries in the so-called "gold bloc", led by France and including Poland, Belgium and Switzerland, stayed on the standard until 1935–36.

According to later analysis, the earliness with which a country left the gold standard reliably predicted its economic recovery. For example, The UK and Scandinavia, which left the gold standard in 1931, recovered much earlier than France and Belgium, which remained on gold much longer. Countries such as China, which had a silver standard, almost avoided the depression entirely. The connection between leaving the gold standard as a strong predictor of that country's severity of its depression and the length of time of its recovery has been shown to be consistent for dozens of countries, including developing countries. This partly explains why the experience and length of the depression differed between national economies.[66]

>bear markets
cringed hard

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>Gold doesn't jump around to a multiple of its value.
Gold is massively unstable compared to other assets

crypto is just gold on steroids

>i-it'll go to 900$
lol

bist du behindert?

I am still having massive profits.

But some family members who didn't listen to me when bitcoin was cheap and invested during the normie period in december and januari are fucked. And I feel sorry for them.

The psychology is interesting. During the depression in the 20th century, a lot of people would trade gold for other things as payment without regard to the currency value of the gold as obviously it was understood the current currency values would not reflect the real value of the trade.

Bitcoin having it's value entirely tied to a real currency being compared to gold requires mental gymnastics only people who buy into the pyramid scheme can come up with. Gold prices over 100 years don't have the swing in prices Bitcoin had in a span of a month, but somehow it's better. It really makes you think.

Are you shorting?

What's even the point of using bitcoin other than wild speculative currency and drugs? At least the dollar is backed by oil.

>crypto becomes the latest tech buzzword
>retarded VCs and banks throw money at it just so they don't miss out
>after a few years they realise it's a useless meme that adds zero value
>the hype dies out
>everyone sells

Bitcoin won't even hit 20k again, there's no hype and only amateurs are holding

I haven't traded since I went all in on Stellar at 2 cent last year in oktober or so.

That was my last trade because I haven't seen a more viable project yet.

The true value of bitcoin is the massive amounts of salt it created.

I remember threads on SA calling it buttcoin when it was 15$. Either it was all false flag to keep people out of mining, or it was real and they all killed themselves.

I don't get paid in buttcoins or pay my rent with it so i never cared.

>I haven't traded since I went all in on Stellar at 2 cent last year in oktober or so.
>
>That was my last trade because I haven't seen a more viable project yet.
that is also my take. since the market moves together i'm going to buy back into mostly stellar once it calms down

so there's no reason to put money in bitcoin then?

I bet most of you don't even know this entire situation played out already in 2013 & 2014.

This is my list of priorities when I trade:
1. Hype (such as when bitcoin was forked into bitcoin cash, which was great)
2. Partnerships (like IBM)
3. Unique coins with future potential
4. A product (as if those shitty projects are worth 100 million. You don't even get a share of those projects when you buy a coin, so why the fuck do I even need those coins?)
5. Tokens (they are usually unnecessary)

Yes, and the tech behind stellar is very good - fast and cheap transactions, and iirc some tokenization like people use ETH for to support ICOs and things.

>Bitcoin was 20k and had world wide popularity in 2014
Uhh ohh didn't know that

>it's different this time
hell this is the third cycle - 2011. 2014 and 2017

>PLEASE BUY MY MEMECOIN AGAIN
hahaha you fucked up cryptocuck

How low does it have to go for you to kill yourself?

Considering I banked 600k after taxes, even if it goes negative i'm good ;)

It's actually impossible to tell what a bitcoin is worth until it becomes more directly tied into the real world economy.
Once more companies start offering products for bitcoins, then you can at least say that 1 bitcoin is worth 100 cola bottles or something. But now it's pure speculation. Speculation on its future adoption.

The vast majority of the value of the stock market is speculation

Bitcoin is the biggest meme of the 21st century so far. It's a "currency" supported by nothing. Literally value out of thin air. Can'twait for it to go below 1k dollars by late December and cause planetwide suicide sprees.

>The true value of bitcoin is the massive amounts of salt it created.
>I remember threads on SA calling it buttcoin when it was 15$. Either it was all false flag to keep people out of mining, or it was real and they all killed themselves.
You still browse something awful?
Do you have an account?

>he doesn't know that in this modern economy EVERYTHING is a bubble and there is no true value
It's such a bubble that we have emergency teams ready to go if it pops

investopedia.com/terms/p/plunge-protection-team.asp

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I guess you'll eat [Nothing] then, watch [Nothing] and go to sleep on your [Nothing]

No, not in years. I think my account might still be active.

Hope you have 10 bucks

>saying this when the most valued companies make overpriced leisure garbage for firsties and have P/E values through the roof
>oh and have lost 20-50% of their value in a year
lol

what the fuck happened? it's been stuck at around 6000$ since last years crash, why did it fall further down?

No, because even as a company makes zero profit it owns goods and has debt. So you can objectively measure what it has right now. So it has a value. And when you buy stock you become a partial owner of that.

It's norm to speculate on the future profits of a company, which you can guess based on historical results, it's projects and the market. But that part is speculative. But those speculations are usually more reliable than crypto speculations, because the crypto market is still in its infancy.

exactly, now we're seeing their true value

meanwhile people who make bread have had their stock stay the same as ever

that 10$ was well worth it in retrospect
shame it went to shit, i think a good chunk of the goodposters came here though

inflation considered, of course

don't get me started on derivatives, something like a 100 trillion dollar bubble

>i can buy triple leveraged inverse derivatives that pay money based on the weather in Idaho (because muh agriculture hedge)
>this is fine though

lel Jow Forums kept saying it physically can't go lower than 5000$
oopsie

>let me argue why bitcoin is good
>because we also have derivatives, what more harm could bitcoin do

ahahaha it's actually meausred in quadrillions

the point is people need to wake the fuck up if they think their 401ks are invested in something "real"

everything is a fucking overvalued bubble

I mean derivatives are legit used for hedging, that's why hedge funds do well in a recession.
When derivatives are used purely for speculation you get shit like Option Sellers

it's not a black and white question

it's a spectrum

bitcoin is comparatively much more shit

>mfw buying 50€ worth of BTC crossed my mind when it was at around 12000$

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