>crypto will replace fiat, they said >crypto is immune

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Fuck she's so hot

>>3484559
Because the fiat replacement wont happen overnight, first people need to realize that governments can't do shit about cryptos other than FUD.

This is one of the first occasions where cryptos will be tested, so they're only accelerating the process. Weak handed bitches are only making it sweeter for those of us who actually understand the relationship of cryptos with the economy.

china has been needing a nerf for several seasons now

>>3484559
Not stable enough because not enough people are in it atm.
Anyway these coins are just paving the way. We don't know what the future holds.
Bitcoin probably won't be used worldwide 200 years from now but it will be remembered as the first.

>>3484559
Real talk the volatility that makes crypto fun for investing (rockets to lamboland) is the same thing that makes cryptos awful for replacing fiat. Fiat might not be commodity backed, but it is inherently related to the economics of the country it's backed by. Crypto has nothing. Crypto is 100% fluctuation. There's zero chance of people giving up fiat for crypto when it has the potential to delete their savings.

>>3484559
yep. all over. everybody sell

Besides, what do you think would happen after governments try to ban cryptos? What is the incentive?

They're only revealing the necessity of cryptos, talk about intrinsic value...

>>3484593
never fuck a jewess

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>he ACTUALLY thought he could just sit around "trading cryptocoins" all day as a job
>he ACTUALLY believed that he didn't have to enter the real workforce and could live off of magic internet money
>he SERIOUSLY disrespected his elders by conning them into this scheme and acting like it was a real investment
>he REALLY thought he could get an atrocious gas guzzling car like a Lamborghini from getting in at the top of a pyramid scheme
oh sweeties...you deserved this

>>3484559
Probably because smug yet retarded teens with no understanding whatsoever of the world thought they found a way to validate their basement dwelling and autism towards the world through crypto?

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>>3484618
>Because the fiat replacement wont happen overnight, first people need to realize that governments can't do shit about cryptos other than FUD.
This. What drives this insane volatility is actually just weak handed bitches getting in and out. The base value continues to grow. $3000 or even $2000 were considered extremely high for Bitcoin just a few months ago.
Today it's the low of a panic sell.

>>3484644
The reason this is true though, is because you need to exchange btc back to fiat before buying most stuff.

If, somehow, we can get a system in place where we can buy most stuff directly with crypto, this would all change.

>>3484670
I shorted at btc at 4880 and ltc at 78
Lmaoing all the way to the bank my hombre
Gonna live like a king on vacation until the dust settles which may be a while

Thanks crypto gods

>>3484670
Only a gay man would write this comment this way

>>3484670
I regret most of my time spent on what is little more than gambling with a house edge.

>>3484618
FUCKN EXACTLY!!!

>>3484559
shes is a qt tho

>>3484656
Anita the Armenian

> LOL

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>>3484559
Why do you take pleasure in a new paradigm that could help humanity break free of the fiat paradigm potentially failing? Do you have a hooked nose?

>>3484559
Eat with your mouth closed, you cunt.

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>>3484559
DO IT FAGGOTS DESTROY IT WE'LL COME BACK STRONGER WITH A HARDER BONER

>some guy on TV says he doesn't like it
>currency of the future goes into nosedive

>>3484559
I literally see this as "Crypto's bootcamp to FUD resistance".
Might happen once again, maybe twice.
Eventually these gov announcements wont mean shit

You can't blame them, they lack basic economic knowledge and don't understand how currencies work. Besides, no one really wants for cryptos to replace fiat really, all they dream about is high exchange rates so they can get rich *in real money*.

>>3486582
this

when BTC recovers massively (there has been an overreaction far beyond what should be caused given China's market share) people will be more resistant to this. Not totally, there will be another wave of normies when it goes Moon mode, but as you say this overreaction will fizzle out

>>3484618
>relationship of cryptos with the economy.
oh you mean the fiat economy you want to replace? anon have you read what your typing?

>>3486640
btc hodl is mostly a cult at this point blind faith that theyll replace fiat

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Last time I checked, BTC still works the same.

1BTC=1BTC. Government can't do shit.

>>3486775
Go back to /r/bitcoin

>>3484700
I read what shorting was. Can someone just explain what shorting and settings long orders are once more.

I'm a no coiner who's about to buy in

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>>3486724
We don't need to replace fiat you autist. Only 5% of goldbugs diversifying on BTC would make it rise to $25,000+, and this is not considering all the dumb money on useless shit out there.

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>>3484670
But I am already rich and bought a lambo paid in BTC

>>3486724
Well, my point is, they don't actually want to replace fiat, or at least they don't realize that it would mean in practice, all they want to is become rich doing nothing. Back in 2009-2011, there was some actual political/economic activism involved, but since then it's indeed mostly a cult, based on greed and not an idea. The mere fact that they measure success in the speculative value of the exchange rate and not in the real world adoption demonstrates it.

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>>3486848
It's ok, waggie, go back to your poorcubicle.

>>3484559
Haha it's not like the whole purpose of blockchain is anonymity and no state regulation
Haha no it hasn't completely lost its sole purpose by de-anonymizing users and getting regulated by countries
Haha no it's not just a non existent coin that now equals all other currencies and/or is worse why would you say that?
Fuck my life.

>>3484559
>crypto will replace fiat, they said
crypto coins are fiat by design

>>3486694
No, I mean the economy based on production and surplus savings, called Capitalism.

>>3486880
You do realize that deflation makes credit impossible and facilitates hoarding, pulling money out of circulation, which is extremely bad for the economy, this is why Eurozone specifically maintains inflation at 1%. I don't expect from you to understand how the economy works, but this is basically the reason why deflation currency will never be adopted by any nation.

>>3484618
>Hello, is this walmart's corporate office.

Yes it is, how may I help you.

>Hi, this is Jane, Associate Attorney General at the DOJ. We are calling to tell you subject to the U.S Code section 5 dollar sign dollar sign 3 subsection 23 pound, asterisk, paragraph 5b all business that don't use USD as legal tender will be subject to federal criminal prosecution.

We didn't know, we apologize m'am, we're dropping bitcoin first thing tomorrow morning.

>>3487113
This, the only way for btc to replace USD is by libertarian revolution aka beta uprising.

>>3486965
> but this is basically the reason why deflation currency will never be adopted by any nation.
/biz/

>>3487113
They'll still accept USD. It's just that after a couple more decades of quantitative easing (Jews printing money out of thin air for their friends), a candy bar will be $1000 or 1000 sats.

>>3484559

Crypto-currency craze has always been a "psudeo-Ponzi scheme" since the beginning.

The early adopters prey on economically illiterate to "invest" or "mine" to hype coins. The early adopters cash out when SHTF leaving the overwhelming majority of the pool SOL when there's no near enough collateral to cover what is written on paper.

/biz/ is so rich in Schadenfreude from the economically illiterate and/or retarded. Think they could get "rich quickly without any real effort" and didn't understand the massive risk involved.

>>3487113
Through pouring the result of our production into an uncontrollable parallel currency, the productive structure backing up fiat's value will be diminished. You won't be able to buy anything with them.

This will force governments to increase their control over the population, including shows of violence, which will result in a revolution in those countries that decide to go against the flow.

As always, some countries will resign and go with the flow, creating deflationary currencies to take over the demand of cryptos, and these countries will come out on top of the situation.

Cryptocurrencies in the end will help us reduce the amount of socialism in the world and will end predatory central bank practices. Irregardless of the final result, we libertarians win.

>>3487365
> the result of our production
What's that, memes?

>>3484644
The reason its so volatile is to do with the fact barely anyone on the world scale owns BTC. Its like a tiny percentage.

>>3486965
>deflation makes credit impossible
>What is variable interest rate

>facilitates hoarding

Good, less consumerism, more productive enhancement through saving.

> this is why Eurozone specifically maintains inflation at 1%

Because the Eurozone does not care about future, the Eurozone only cares about short term results. After the crisis, no amount of intervention could keep inflation at 1%, and they're stagnating the economy like in Japan by not letting it crash.

People who put their savings in cryptos will be able to escape this stagnation trap.

>but this is basically the reason why deflation currency will never be adopted by any nation

If they don't adopt them, people will.

>>3486775
Literally the money tree meme. Your a normie.

Within 1 year we will be at 1 trillion market cap.
We will see who laughs last.

>>3487406
This is the argumentation level of Keynessian nocoiners

>>3484593
>ywn have Anita eat popcorn while laughing at your penis.

Why live?

>>3487451
> productive enhancement through saving.
How is saving a productive enhancement? It's literally taking wealth out of circulation.
> People who put their savings in cryptos will be able to escape this stagnation trap.
Assuming there will be fools ready to buy these cryptos, because, you know, you can't buy food or services with them.
> If they don't adopt them, people will
No, they won't, no functioning government will allow the existence of an unregulated black market, it's like saying people will organize their own police. Besides, why would people adopt cryptos? It's a shitty payment system, volatile currency and a storage of wealth with no inherent value, comparing to stuff like gold. There are basically only two use cases for cryptos right now - buying CP and speculating.

>>3487365
>This will force governments to increase their control over the population, including shows of violence, which will result in a revolution in those countries that decide to go against the flow.

No it won't. Otherwise dictatorships and big governence wouldn't exist. People would rather live under tyranny than die under it.

>>3487630
>How is saving a productive enhancement? It's literally taking wealth out of circulation.

In order to improve your productivity you need to stock surplus production to invest it at a further date. That's literally the premise of capitalism.

You think people who save do so to die being the richest man in the cemetery?

>Assuming there will be fools ready to buy these cryptos, because, you know, you can't buy food or services with them.

I can buy food or services with them, plenty of people around the world will either give me food for bitcoins or will buy me food for bitcoins.

3-way bartering is as simple as having Swiss francs and buying bread in Spain.

>Besides, why would people adopt cryptos?

Because governments are fucking us in the ass creating a debt culture that keeps throwing all our production into low-elastic demand products such as housing, healthcare, media, etc?

Why do you think houses are a refuge investment? Because low elasticity demand products such as houses absorb the exceeding liquidity of QE's. We're fucking tired of some (((people))) getting richer through government's coercion, and the commies and socdems who are not tired will ride along anyway because they will have no alternative when hyper inflation we will cause on fiat comes knocking down your doors.

>>3484618

Christ, you people couldn't possibly be this retarded.

>>3487878
>You think people who save do so to die being the richest man in the cemetery?
They did it by investing the capital in banks, real estates, shares, etc, not by hoarding physical money under their bed.
>plenty of people around the world will either give me food for bitcoins or will buy me food for bitcoins
Because right now bitcoins can be exchanged into real money. The same people would buy you food if you give them iPhone or some pearl beads, and they would do it by selling these commodities and then buying food with money. Same with btc - it's a commodity, not a currency, and it's only valuable as long as it can be exchanged for other commodities. In the even of governments cracking down on btc no one would have any interest in it.
>Because governments are fucking us in the ass creating a debt culture that keeps throwing all our production into low-elastic demand products such as housing, healthcare, media, etc?
Wew, lad.