Someone made an excellent 2 liner post explaining why regulated

When less than 20 people own 90% of Bitcoin, how is that better? It's virtually the same.

You forgot to add "Volatility: high"

>>988144
>>988154
Wrong. You pulled that number out of your ass, since there's no way to know exactly how many people own what in Bitcoin, it's all speculation. In any case, there will always be elites, that's basic human nature.

The difference is in Bitcoin elites come from visionaries that saw the potential since the early stages, and got naturally rewarded by this in a non violent way. This elite cannot manipulate the total money supply at will, and run under a decentralized and open source system.

The "old elite" was made with blood, and runs under a closed source system that can manipulate the supply at will. Volatility is a side effect of not being controlled by this cancerous, old elite, enclosed system.
In any case, volatility will naturally decrease as the marketcap grows towards a trillion dollars over the next decade or so.

>>988166

>Wrong. You pulled that number out of your ass, since there's no way to know exactly how many people own what in Bitcoin

This retard is shilling Bitcoin and has never even heard of blockchain.

>>988172
This retard doesn't understand it's impossible to know how many addresses belong to the same person.

>>988173

So you're just further proving my point that Bitcoin is monopolized. Thanks m8

File: bitcoingoyims.png (33KB, 1046x531px) Image search: [Google]

33KB, 1046x531px

97% of Bitcoin address own only 603 Bitcoins, or virtually 0%. Enjoy putting your money into a rigged market boys.

>>988170
>since there's no way to know exactly how many people own what in Bitcoin
It's called the blockchain. Do you even understand what it is?

>>988170
By "elite" you mean NEET gamer who got his mommy to buy him a nice graphics card? Seems legit.

>>988186
>he thinks fiat is any less monopolized than that
The point OP is making is, elites will exist, ****but Bitcoin's total supply cannot be manipulated and the system open source*****

First, there are a lot of bitcoin addresses that are either dead, abandoned or lost due to forgetting passwords/keys/usernames/, etc. Or just tens of millions of test addresses that are empty and never were destined to hold bitcoin, just to exist. Almost 99% of all the bitcoin addresses have less than one-tenth of a bitcoin, which is less than $24 USD worth at present. This is pretty startling to see if you aren't expecting it. It is hard to compare to any other store of value easily or fairly since most do not have a finite unit count built-in.

The U.S. Government has no problem making trillions of brand new U.S. Dollars every year since the inflation is spread throughout the global economy. Being the "global reserve currency" certainly has its advantages, mainly you have an unlimited credit card the rest of the world's economies help you pay off every day. Exporting inflation is so sweet! Should anything that has lost over 98% of its value over the last century be considered a "store of value?" Gold also does not have a finite limit in its mining, and there are several mining operations worldwide working on producing more 24 hours a day, seven days a week. How much gold there is also is unknown. So how much concern there should be about such an imbalance is questionable.

Those that are actual whales, will sell as bubbles happen due fear. Bitcoin wealth will naturally distribute itself across more hands.

I'd change durability to low for bc.
Once they're gone they're gone. already a significant amount of total has been lost.
Fiat even if its destroyed can be replaced, provided its still a valid exchange medium.

portability needs a caveat. You need electricity to get at your value.

>>988190
By elite I mean people smarter than your shitposting ass, just like:

https://www.youtube.com/watch?v=9pyVvq-vrrM

Just admit it, you are too dumb to get any of this. Go back to shorting PRAN.

>>988192

>Bitcoin wealth will naturally distribute itself across more hands.

I've been hearing this on /g/ since 2012 and it's only getting smaller and smaller. People buy and hoard hoping for something instead of circulating. Bitcoin is extremely volatile. The people who buy have no education in finance yet always try to compare it to fiat, gold, stocks, etc. They are delusional.

>>988193
This is retarded. A paper wallet doesn't need electricity, and electricity will be here as long as humanity exists anyway.

Also durability means the medium will not deteriorate over time. If you lose your coins is your fucking fault. In any case, services like Xapo will act as "Bitocoin banks" for the dumbasses that can't be their own banks.

Everything is planned, there's no escape from Bitcoin's ultimate success. It's 2+2=4.

>>988197
Missing the point/10 and we are still in the very early stages. You are complaining the internet doesn't do Facebook and twitter shit in 1995.
People are free to buy and hoard. It's their money, they can do anything they want with it, that's the whole point idiot.

>>988201

>everybody buys and hoards
>expects stability and growth

This is why you should stay away from Bitcoin

>>988195
You seem really elite, bro. What classy individuals you Bitcoiners are, I gotta tell ya.

Im so lucky to be part of a generation that will see the biggest paradigm shift ever. It's fun to see people trying to cope with it. Reminds of me grandpa Letterman coping with the internet back in the day:

https://www.youtube.com/watch?v=lskpNmUl8yQ

File: bitcoin-is-growing-up-an-infographic-of-the-bitcoin-ecosystem-1.jpg (2MB, 1200x8708px) Image search: [Google]

2MB, 1200x8708px

>>988205
>meanwhile

>>988212
MLM scams have a lot of infographics and YouTube presentations too.
>oh crap these guys aren't buying what I'm telling them
>quick link them the infographics! Link them the infographics!
>were losing them! Do something Eugene!

>>988141
Anyone can create some kind of crypto currency though, and data on itself has no value.
The US Dollar is backed by the government.

>>988212
Wheres a huge hole in the middle representing MtGox?