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Cryptocurrencies are just assets you bet on.

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Thread replies: 115
Thread images: 15

They don't have any backing, and the only reason people accept them is to sell them for USD.

Enjoy the bubble while it lasts morons, the Post-Crash tears are going to be oh so sweet
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>>3267090

The trend is still up and away.
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>>3267090
Ride the tiger, baby.
C.R.E.A.M.
>>
Another retard
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>>3267102
>The trend is still up and away.
literally what people said about Housing before 07-08, but at least those Assets had intrinstic value.

What instrinsic value does BTC or any Crypto have?
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>>3267112
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Yeah, but sometimes they're better than a countries currency. Like would you want to have Venezuela dollars which could easily become worthless or have your savings in a crypto currency which could easily become worthless?
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So what?

I agree that the crypto market is in a bubble, but I got news for you, so does the USD, Euro, and just about every other major currency. Use your knowledge of economics to your advantage, pump, dump, and put in gold and silver.
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>>3267117

I think you fail to understand the importance of decentralization.

Thats what makes it an asset.
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>>3267122

What backs up fiat? Government.

And we all now people all around the world just love governments more and more and more because they always do their best and make everything great .

Right?
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>>3267117
Fucking younglings haven't even lived through the Dotcom bubble.

This is similar to that but it is too early to say.
Everybody is betting on BTC or even ETH in the long term but it is harder to find that one 'Google/Amazon' out of the ICO trash-heap
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Buy gold right now
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>>3267090
>Enjoy the bubble while it lasts morons
I will, I already made more money than I invested.
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>>3267238

Then it probably doesn't hurt that much when you loose everything because the music stops playing and you cant sell because the exchanges fuck up.
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>>3267363
>when you loose everything
>loose
Why do nocoiners have such a low IQ?
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>>3267363
which is not going to happen, unless governments attack BTC or something.
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>>3267090
When the bubble bursts... imma short.
Its the same game still, there's opportunity to get more.
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>>3267223
>The past is indicative of the future.

No just no, go away grandpa
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>>3267090


if chainlink goes up 6 times, I'll be a millionaire. I would have had ~80kUSD net wotrh by end of this december if id stuck to index funds.

Smart people like you don't understand, you're too smart. Bye!
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>>3267440
It is
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>>3267090

As a followup, google "why smart people are stupid" (no quotes), enjoy reading!
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>>3267117
>What instrinsic value does BTC or any Crypto have?

decentralized banking, content hosting and advertising and various technologies.

the feds didn't have to drop intrest rates to 0%, now look at this mess
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>>3267117
What instrinsic value does fiat have?
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Oh look another doom/FUD thread to push prices lower.
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>>3267467
kek at the questions in the article
Who gets those wrong?
t. math student
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>>3267117
>literally what people said about Housing before 07-08
That's literally the opposite of what happened. Everyone, including bankers, knew it would crash but they did nothing to stop it. When it did crash they cried to be bailed out, which Obama did like a good goy. Every bank and banker involved should be bankrupted and liquidated, but instead they are still rich and laughing at how many lives they ruined.
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>>3267090
bitcoin since 2015

fuck i hate journalists
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>>3267117
There was no real real for housing to moon. For many cryptos, there is.
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>>3267117
A self-auditing public ledger, world-wide access, cryptographic security. Its intrinsic value is in the fact that it runs its own system, as public and personally controlled as possible.
They all do the 'Savings' and 'Checking' espects of banks better, without the many middlemen or large cost. With verification instead of trust.

Ethereum has smart contracts. Programs that run automatically, decentralised on the block chain, when a set of conditions is met.

Filecoin, and others of the same concept, could potentially pay users for hosting content locally P2P.
Just think, a youtube that doesn't require sending the file all the way from the server to every single computer to share that popular viral video. People just download it from their neighbors.
That would reduce the strain on the ENTIRE ISP network, and incentivise people to do so.
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The world stock market cap is about $70 trillion. Crypto market cap is about $165 billion. Therefore crypto as a whole occupies about 0.235% of the world stock market. Bitcoin alone is about 0.1% of stocks. If just 0.1% of the stock market goes into Bitcoin, we double our money. For comparison, gold has about $8T, and about half that is in jewelry. That means gold bullion is about 5% of total stock market. If 1% of the stock market goes into bitcoin, we make 1000%. Bitcoin is a brand new asset and is just beginning to crown into the mainstream. None of those bubbles listed started from zero, and the chart does not account for relative market caps. The exponential growth of bitcoin is only a function of it's minimal starting point. As institutional investors move on bitcoin, the gains for early movers are certainly exponential, but this alone does NOT denote a bubble.
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>>3267090
nice graph you got there faggot. Remind me, what was the dotcom bubble's capitalization at the peak ? Like couple of trillions usd ?
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>>3267760
This
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Currency is an extension of (overt and covert) political and military control. Media is its counterpart. Media is the carrot, while currency is the stick. He who controls the money supply can control the world.


>>3267493
Fiat currency has the entire United States military putting a gun to your head and telling you to fucking use it, moron.

- Don't wanna pay your taxes in USD? Enjoy rotting in Jail for 10 years?
- Want to create a pan-African gold-backed currency? NATO destroys your country and a bunch of terrorists kill you.
- Want to trade your Oil in USD? The US military BTFOs you once, then comes back 15 years later to lynch you personally.
- Want to create a labor-backed note so that you're free from the international Jewish finance cartel? Britain starts a war with you and drags the US into it.

Cryptos may have some attractive technical properties that make them superior to metals or fiat currencies, but these properties don't provide BACKING any more than the industrial properties of gold back its value. Cryptos are backed by little more than HYPE. No one is putting a gun to your head and telling you to pay taxes or tribute in crypto, nor is he destroying your country if you refuse to trade in crypto. You are buying a crypto because you think people will voluntarily use it in the future.

Well, I have news for you, dickheads. Never in history has a currency that can be created out of thin air EVER been voluntarily adopted by anyone. There is always a monarch, a government, an international cartel, or some other such organization forcing its use upon large numbers of people. (And yes, every currency can be created out of thin air because anyone can create a new crypto and hype it.) With cryptos, he who hypes best wins out. So, you just have to ask, who has control of the hyping machines? Well, it's the same group of people who have control of the printing presses.
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forgot muh pic
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>>3267090
Stocks are just assets you bet on.
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>>3267090
Just like stocks. If the company you invested in goes bankrupt, you just lost everything. Only you cant trade your stocks for other stocks and the stock exchange wants a pound of flesh and your first born child in trade fees. So pick your poison.

Of course you could just stockpile paper dollars, because thats totally backed by something real AMIRIGHT.
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>>3267090
>the only reason people accept them is to sell them for USD
can you explain why this makes the value a crypto has somehow invalid?
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>>3267090


>crypto only has value because you can convert them into bead lizards and magnets
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Most of my holding are in BTC / ETH and a crash would just be an excuse to accumulate more.
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>>3267117
utility
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>>3267474
>decentralized banking, content hosting and advertising and various technologies.

buzzwords, nothing of substance

if someone else wanted to make their spotify payment they could quickly roll it out. And yeah, it would be decentralized, too.
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>>3268002
>Just like stocks
Except no, since there's actually a revenue generating business involved.
>If the company you invested in goes bankrupt, you just lost everything.
Probably, though not necessarily. It clearly isn't the same.
>Only you cant trade your stocks for other stocks
Technically you can, it just isn't usually done on the individual level.
>Of course you could just stockpile paper dollars, because thats totally backed by something real AMIRIGHT.
Yeah, the taxing authority of the United States.
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>>3268085
Only matters if they are actually used.
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>>3268051
Pure speculation.
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Moonero is about to take off. Y'all faggots better get into XMR while you can
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>>3267141

cryptocurrency are literally MLM-tier playmoney
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>>3267957
The Chicago board of options exchange and LedgerX have been cleared for starting derivatives exchanges by the SEC. Banks are starting to track bitcoin in portfolios. Bernanke has capitulated to the crypto gods and is joining the Ripple convention. The rulers don't want to stifle innovation, and crypto could provide access to millions of unbanked people. I think the only risky coins are the privacy ones that enable the drug trade, as the recent alphabay take-down shows that bitcoin is perfectly traceable and is not very feasible for darknet purchases.
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Benjamin Franklin mentioned that the primary motivating factor for the American revolution was the desire of the colonies to be free from the British pound. The war of 1812 was ordered by Rothschild to bring those "impudent Americans" back into line. Andrew Jackson's (failed) assassin reportedly said that he attempted to kill the president so that money could be more plentiful in the nation. Jackson, of course, was notorious for fighting the Rothschild Bank. And Lincoln was assassinated shortly after introducing the Greenback. All of American history (and recent European history, too) can be understood as battle of the control over the international money supply.

>>3268002
Stocks are ownership of a company. You can gamble on them all you want but at the end of the day, the company is still going to be producing goods or services. In contrast, a cryptocurrency is the solution to some algorithm. It doesn't "do" anything except exist.
>>
gold > all

if you disagree you are literally retarded
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>>3267090

if you want to stay poor, its your decision.

but you have to be really retarted not to invest in crypto right now. even if you just do the basic investment moves its free money.

lets assume were in a bubble then were far away from a burst.
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>>3267957
You're fucking retarded m8
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>>3268137
Your first paragraph is insane conspiracy nonsense.
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>>3267957
the central bank in my country lowered intrest rate to 0% because of the crash that happened in the united states. it had nothing to do with my country.

now that the intrest rate was 0, people starting investing in real estate like crazy. it drove up the prices by hundreds of percentages. in 10 years. and the government is pumping this bubble by spreading false information like shortage in housing that never existed.

now the entire economy is fucked and is at a huge risk, all because some the government decided to participate in this scam.
this is why we need an alternative. we can't have our assets sized and our taxes rised because of some crooks.
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>>3268146
>thinking something is better because it's shiny
Okay Pajeet.
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>>3268137
Absolutely retarded and ignorant
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>>3268068
this anon gets it
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>>3268165
Thanks for proving my point, dumbass.
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>>3267238
congrats, it's true, you can play the ponzi, the suckers who buy into it are fools you don't even need to play - they do it themselves
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>>3268177
Thanks for proving my point Pajeet.
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>>3267957
Well ideally it doesn't need to be enforced. Crypto is, ironically, more suited as a tool of trade than a method of power and control. And more efficient in trade as well.

Side note. I honestly love the way bitcoin was designed to be innocuous at first, and widespread quickly. To leech its way into every country with internet, become prevalent in black markets, and gain social acceptance. Long before it truly showed itself as being actually viable as an asset against inflation and debt.
Now it's too big to take down. Too distributed to control. Growth rates outrun interest on many loans. And that's with it only being .2% of stocks in size at best.
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>>3267957
With the multipolarity of the world, bitcoin will be used by other nations as a threat to the established order. China will use cryptos as a hedge against the United States, which will have to counteract these moves in a way.

There may very well be a bitcoin war.

But regardless, nothing about that counteracts the fact that cryptos are significantly technically superior to paper fiat. Paper fucking currency just doesn't do the job the 21st century requires.

There will probably by sovereign coins produced. Estonia is already talking about it. And since some form of this technology will almost certainly win out over the long run, it's very advisable to study it as much as possible now, as we are still in the innovator stage of this revolution. And if you can make life changing money with it too, well, fuck.
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>>3267969
he never said that, some author made it up.
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>>3268137
Only technically, you think you can show up with your 2 stocks in Apple and as for a audience with Steven Jobs. I doubt they would even let you near his corpse.
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>>3268147

you need to seize this opportunity if you want to be rich! We in the diamond club already bought a few yachts from the crypto return.

It's not too late to invest, but soon it will be - don't think for too long! Unless you wish to continue living the poor life that is.
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>>3268146
only for central banks, governments and the elite class.

if youre rich and invest 10 million EUR for example in gold. you got about 240kg of gold. where do you hort this fuckamount without risk ?
when it comes to transfering gold shits getting harder. in terms of practical use and flexibility fiat > crypto > gold. try to buy a coffee or anything with gold.

gold is the best asset for you if youre in the elite class which 99,99% of ppl are not.
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>>3268231
not really.

There are places where you can keep your gold and they give you a account with the amount of gold in it, so you can transfer it to other people without having to transfer the actual gold. If you wish you could ship it to yourself but there is no reason to.

Gold is the best currency

>stable price
>universally accepted
>finite ammount
>intrinsic value
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>>3267363
Except I already cashed out 10times my initial investment and I'm only investing in shitcoins with the profits, if it goes to shit it doesn't matter I already made massive profits, I'll keep making gains while the music plays, stay buttmad.
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>>3268160
Which country? I have a friend that studied in Sweden and because of negative interest rates, they have housing shortages
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>>3268267
It's like, oh my gosh, TETHER!
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>>3267117
do you even have any idea why the housing market crashed?
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>>3268275
israel, we have 100k plus empty housing units but the bubble is still being pumped
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>>3268288
Holy shit you are actually retarded uh?

>stable
no, speculative af
>universally accepted
no, dollar is
>finite amount
no, anyone can create a similar crypto
>intrinsic valye
lolno
>>
>>3268267
Wew lad
>stable price
No. Try actually looking at price charts.
>universally accepted
No. I cannot walk into my grocery store and pay with gold.
>finite amount
It's true that there exists a finite amount overall, but the amount of gold available increases from mining.
>intrinsic value
Much lower than the spot price. Less than 20% of gold is put to use as an actual commodity.
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>>3268267
i agree to a certain point.

if you keep your gold somewhere else in an account u automatically lose controll about it. and in times where you will need gold the most, u will probably have no access to it.

gold itself can be manipulated too:

http://www.newsmax.com/Finance/PeterReagan/Gold-Price-Manipulation-Silver/2017/06/08/id/794998/

never forget we live in a fucked up world.
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>>3268291
Banks gave loans to niggers and other riff-raff who couldn't pay them back.


>>3268155
In The Parliamentary History of England from the Earliest Period to the Year 1803? (1813); when questioned why Parliament had lost respect among the people of the Colonies, he answered: “To a concurrence of causes: the restraints lately laid on their trade, by which the bringing of foreign gold and silver into the Colonies was prevented; the prohibition of making paper money among themselves, and then demanding a new and heavy tax by stamps; taking away, at the same time, trials by juries, and refusing to receive and hear their humble petitions”.’ Examination before the Committee of the Whole of the House of Commons Thu, Feb 13, 1766

https://www.amazon.ca/Creature-Jekyll-Island-Federal-Reserve/dp/0912986212
https://www.youtube.com/watch?v=mBGYCoQBbsE

Why not read something for once? I bet you think that the Holohoax happened, too, and that Britain invaded Germany, throwing away its Empire in the process, to save poor little Poland. The prime motivating factor of world war II was that Hitler decided to create a currency that was backed by labor and therefore not under of the control of the existing banking cartel. This is blatantly obvious if you read what he wrote.
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>>3267090
>>3267117

How do we stop baby boomers from coming on here? Surely there must be a way?
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>>3268360
>linking The Creature from Jekyll Island
Into the trash it goes.
>Why not read something for once?
Why not try fact checking what you read for once?
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>>3268310
I meant those digital gold stores. It's only a digital certificate that says you own it. Not backed by a government, not traded by vendors. It must be traded back through that system to get any useable currency from it.

But anyway, time for some fagging.
Gold isn't incredibly stable. It has ups and downs. More downs than ups usually.
Gold isn't universally accepted. You can't walk into starbucks and pay with gold. You can't buy computer parts with gold. No one takes it but gold vendors and some banks.
If you're using OTHER cryptos as an analogy, then you can use OTHER metals too. Most are conductive and shiny; boom, functional intrinsic value.
And if you disagree with that then you disagree that gold has intrinsic value. But even if you don't, its intrinsic value for actual use, in electronics for example, is incredibly minor in volume to its supply. If its price was not so inflated by gold otaku, you would see more gold circuitry.
Intrinsic value only acts as a floor, and is 100%, absolutely, and entirely irrelevant to the value of any functioning currency.
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>>3267760

Beautiful. Thanks senpai
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>>3268392
Retarded Brit detected.
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>>3267090

It is the actual blockchain itself that is the value of the coins in reality.
Take Bitcoin for example-
>The huge and growing blockchain, and the MASSIVE amount of work it takes to rewrite it to attack it.
>The fact that it is decentralized, (it would be very hard or impossible to stop the bitcoin blockchain without the entire earth going back to the stone age)
>You don't have to trust any single entity like a bank or government to do transactions or even exist. Any one of the worlds governments could collapse and bitcoin will still exist, unlike that countries currency.
>They're either deflationary or have predictable inflation, etc etc... and so many more reasons.
>YOU control your private keys, and absolutely nobody can confiscate your account for any reason, unless you're stupid.
>so many more reasons

As for this absolutely retarded bubble meme, the dot com bubble was $5+ TRILLION. All coins are at $165 billion market cap, and Bitcoin is $75 billion. Not even on the same planet yet.


Again, so were clear, OP is a faggot.
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>>3268493
>It is the actual blockchain itself that is the value of the coins in reality.
And guess what? The blockchain isn't proprietary in any way. Anyone can make a coin at any time.
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>>3268517
Yes they can, but can they put 900 trillion hashes per second of hashing power behind it at any time? No they can't, and so it will be worth a lot less than Bitcoin.
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>>3268382
we could have audio captchas that play at a high pitch
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>>3268559
>No they can't, and so it will be worth a lot less than Bitcoin.
This implies that hashing power is directly correlated with value, which is wishful nonsense.
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>>3267090
>Technology is a bubble
Fucking LMAO its like calling electricity a bubble in the 20th century
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>>3268638
this
computers are a bubble!
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>>3268559
And most of the 900 trillion hashes per second is controlled by a single hardware manufacturer ;)
I seriously wonder if Bitmain got any backdoors in their hardware.
>>
>>3268134

There are FIVE BILLION users coming onto the internet. That's right frogs, they're coming to ruin your pillow fort party. Instead of crying about our safe space being invaded, we need to capitalize on this as much as possible.

>crypto is the perfect vehicle for getting these unbanked people into the system
>the establishment stands to profit off of crypto just as much as we do
>the US government already gave the bitcoin crowd a green light to continue developing this ecosystem

The /pol/ tier bullshit needs to stop. Do you really think that the rulers of the richest, most powerful countries on the world are dumb enough to outright kill crypto instead of just letting it develop and co-opting it? You dumb motherfuckers need to realize that thousands of professionals bound to legal and corporate law are already in this business. It isn't a fucking secret, though we are still in adoption phase.
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>>3268683
Cell phones are obviously the biggest bubble ever. Cant wait until it is impossible to call people again.
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>>3268561
Nah make the captcha something they wouldnt click on.
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>>3268559
Yes, the technologies that are used in cryptos may be intrinsically useful but the actual backing factor of any individual crypto currency is, as of now, hype. Saying that cryptos have value because of blockchain technology or whatever is like saying that the US dollar has value because the physical notes have anti-counterfeit properties in them. The US Dollar has value because people are forced to use it at gunpoint. In a hypothetical scenario where a coin is half-mined by a group of influential men who lobby for their coin to become the official currency of some state, and then the state uses armed force to order people to pay taxes or to settle debts in said currency, then the value of that currency will appreciate by some amount. They could also lobby for policy that says that there will be a new hard fork every century or so and mine out the coin by some percentage before anyone else.


Currency only has value because people are forced to use it at gunpoint. This has been true since the dawn of time and it will always be true because the will of a small number of connected and committed men is more powerful than that of the mob. Cryptocurrencies may be the future, but they will eventually be controlled by a small group of men.
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>>3268579
Fair enough, but the point is it takes a huge amount more than just creating a new coin to compete with Bitcoin, even if it is legitimately better.
For example I unironically think Bitbean is a better coin, but they are worth 0.00000060 of a Bitcoin right now.
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>>3268873
the biggest risk that exists in crypto is that the government can't seize your assets.

this shit is a perfect getaway for people that are getting divorced or extorted b the irs
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>>3267223
Factom, one or two of the exchange coins (probably blocknet, no shill desu & bancor if they actually report anything).
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>>3269317
>>3268579

They could easily make bitcoin / alt coins illegal or tax them heavily, release their own crypto, and it would become worth more because that is what everyone would buy
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>>3269108
If anyone could print US dollars, it wouldn't be worth anything at all, would it... The security features are a HUGE part of a currency. In fact you could argue it's one of the most important parts.

It is not hype, and there are currently 9638 Bitcoin nodes operating in 91 countries right now, some of which are
total enemies. Good luck stopping or hacking it. Not to mention they're talking about putting nodes on satellites in geostationary orbit too.

Currency itself has value because people agree it does, and would rather trade currency for goods than trade goods for goods. Yes governments fuck it up, but that is not a requirement for a currency. Nobody was forced to use Bitcoin, but somehow it is gaining huge adoption, no government gun needed, and in fact the gun was against it if anything.
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>>3269368
>It says here you bought a ton of... Digibyte?
>I'm so sorry. Forget my split. You're going to need what's left just to not starve, somehow.
>>
>>3267090
> So you're telling us we have about 1000 days to go?

Nice, just bought 100k
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>>3267117
According to this: http://marketrealist.com/2016/12/will-payment-processors-keep-seeing-the-us-dollar-impact-in-2017/

The mastercard network processes about 13 billion dollar worth of transactions per day.

According to this: https://bitinfocharts.com

Bitcoin processed 8 billion,
Ethereum 12 billion and Litecoin 1 Billion worth of transactions.

Mastecard is valued at 133 billion
Bitcoin at 75 billion
Ethereum at 36 billion
Litecoin at 3,3 billion

Seems to me mastercard is the overvalued one, hein?
>>
So everyone in here is arguing about which currencies are worthless.
When the big crash really does happen, nobody will give a shit about your fiat, your crypto or your gold.
What they will care about it what products or services you can provide. So stock up on ammunition and learn a trade or two.

But for now, keep riding the waves of all this meme money
>>
>>3267117
>he said nervously as BTC hit another ATH this week
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>>3270760
after the crash we'll still have the internet and crypto and computers which we'll probably trust more than whatever corrupt goverment is in charge. and everyone will be trying to hide money. even in african shitholes everyone has a cell phone with internet.
>>
>>3268477
He said trash, so he might not be a Brit. I'm a Brit and I know what you say is true.
>>
>>3267363
>nocoiner doesn't know about cashing out and trading the rest into bigger gains

I can't wait to watch people like you on the news when the world goes entirely digital and you have to cope by moving into small communties where theft and violence is rampant.

Nocoin soon = illiterate nigger
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>>3267760
O N T R A C K
N

T
R
A
C
K

F
U
C
K

Y
E
A
H
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>>3267768
please stop, I can only get so erect before erupting
>>
>>3271179
Imagine everyone on /biz/ becomes a billionaire just because they hold crypto. We're al so fucking happy we made it, we decide to get together and do wolf of wallstreet type shit....and then the nukes start flying.
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>>3267117
decentralized (far cheaper than banking fees, you are your own bank), deflationary (scarce/rare), digital (instantly transactable through the internet)

it's basically everything we want. QRL can maybe fix security issues.
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>>3270760
>Well insulated house
>Generator and fuel
>A cool little solar powered USB battery.
>Fairly large garden growing something almost all year around
>Large stock of rice, oats, peanut butter, flour, and bottled water
>SHIT TON of airtight containers of all sorts
>Stock of various drugs (Best end world currency)
>Full med kit stock, high proof alcohol, endless cotton swabs, nitrile gloves, bandages, medications
>Vinegar and baking soda (Supposedly great for emergency laundry)
>Various tools
>About 70 different blankets
Am prepared for a lot of things.

Currency won't do me much good in a full bottoms up end of the world crash. But I'm somewhat prepared.
Anything short of that, and I'll certainly find something else that holds its value sustainably for the time being.
Because not everything can drop all at once, as then they'd just be all equal to each other sort of nullifying the point.
>>
A stock is not a real asset either. It's a made up unit that represents what people think a company is worth and has nothing to do with how much actual money they have.
>>
>>3271278
>and then the nukes start flying.

kek
>>
>>3271669
In a doomsday scenario all that stuff won't do you much good because it makes you a target for theft and murder. Unless of course you also have a bunker and loads of weaponry.

>Stock of various drugs
>Best end world currency

That's retarded. Food, guns and ammunition are the best post-apocalyptic currency.
>>
>>3267223
I'm pretty confident it's Monero, none of the other cryptocurrencies actually have any kind of plausible use.
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