Is there any reason why a single Bitcoin wont be worth $1,000,000

>>132632989
only if you sell it

>>132632989
>Is there any reason why a single Bitcoin wont be worth $1,000,000 USD or $100,000,000 USD each in the next few decades?
yes.
bitcoin won't exist in 3 years time.

>>132633190
Why?

>>132633083
I know.

I have this weird feeling/prediction that the cost of 1 BTC in 2017 will pay for your retirement if sold in 2047.

I don't know why I have this feeling, but I just do.

I feel like it's going to be this super amazing thing that every single person wishes they got into.


$4,400,000 USD of Bitcoin in 2017 was worth $5 USD in 2009. What's stopping it from being worth $44,400,000, or $444,400,000 in then next few decades?

>>132632989

Bitcoin has an actual value cap that unless a bunch of other fiat currencies die the death it will not be exceeded.

That and the US's current governmental stance on it caps its usefulness as a currency.

Thankfully: Some chink politicians and businessmen are using it to hide sums of their wealth and that is starting to expand in popularity so after the big correction coming up we will likely see at least one more boom.

>>132632989
btc will reach 10k then die cryco is the future
EOS/ ETH if enhanced will be main 2 currencies in 20years

>>132633269

Because it has no innate value.

since you basically can't buy anything with it...

>>132633269
Because it's a meme

It's like vaporwave

>>132632989
Because they literally are worth less than a tulip bulb.

>>132634889
>Because it has no innate value.

lol....that's the same as any other currency.

>>132634889

https://en.wikipedia.org/wiki/Fiat_money

>>132635041

Real currency is valued by the government as a means of regulating the economy.

>>132635041
Most currencies are backed by gold
America in particular is backed by military spending, called a militaristic standard

Canada is backed by nothing so it's monopoly money

Bitmeme is weird to me
I don't see how it has any innate value considering how unreliable the blockchain really is

>>132632989
>if there's limited supply
for something that has no intrinsic value

>>132635443
>Most currencies are backed by gold

Most currencies are backed by the USD, which isn't backed by gold; aka most currencies are backed by the "full faith" of the US Govt in the Federal Reserve.

>>132635443
>how unreliable the blockchain really is

what do you mean?

>>132635701
So basically if the US empire collapses and the US no longer has it's military might, all fiat currency becomes worthless? Right?

So what happens then? Everyone switches over to virtual currencies? :O

The banks.

>>132635916
... AXA already partially owns Blockstream, which funds Core, which is steering BTC into a centralized model which will in effect turn BTC into a centralized regulated electronic money.

>>132635703
Bitcoins blockchain is essentially mathematical proofs that are used to stop people from corrupting the blockchain aka spending funds from someone elses wallets

To me it just seems like a ticking time bomb for someone to decrypt and essentially make all 21 million buttcoins worthless

>not already being rich from crypto
Stupid normies.

>>132636110
If it breaks so does bank encryption.

>>132632989

i'm waiting for the bildeberg coin

>>132634956
Microsoft actually accepts it. I remember I bought something for my Xbox with BTC.

>>132635891
>>132635891

No, just the US dollar. When a country collapse, their currency is worthless and history has show this many times. Typically, a new government is created and a new currency is made. A government will prefer their own currency since this lets them control monetary policy.

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>>132632989
Is there a smaller unit than one bitcoin? For instance, how much in bitcoin would a hamburger cost?

>>132632989

- Transaction costs have already made it unsuitable as money.

- The energy cost to keep bitcoin rolling is fucking retarded.

- Chances are that they will do hard fork, in a system with billions of market valuation.

>>132636213
does every bank account holder have access to the banks encrypted transaction database?

no

>>132632989
Banks. They're already making their own secure block chains and the moment they think for a moment btc is taking part of their market share, they will kill it overnight. It's going to be glorious seeing all the shills cry after their scam goes belly up overnight

>>132636213
Bank encryption already has a clear step by step as to how to break it

But NSA has that info on tight lock
It was in the snowden leaks

>>132635443
>Most currencies are backed by gold
Wrong. Every single currency in the world today is a fiat currency, they're not backed by anything. The last pillar of the Gold Standard ended in 1971 when Nixon "temporarily" suspended the Bretton-Woods system in which all currencies were pegged to the Dollar at certain exchange rates and the Dollar was fixed at $35/oz of Gold.

>>132635891
You aren't wrong Anon, everyone will switch over to the next relevant countries currency.
Probably Germany, but it could be any country theoretically.

>>132636332
Number of bitcoins doesn't mean shit, since you can exchange/transfer 0.0000000000001 bitcoin.

>>132636332
Bits. Bitcoin can go into decimals.

>Is there any reason why a single Bitcoin wont be worth $1,000,000 USD
Well not really. But there isn't any reason why it wouldn't be worth $1 either.
>and big boy international businesses start using BTC
And why would they do that? There are hundreds of other currencies and many of them are probably more appropriate for a specific use than BTC (it's the original but also the most clunky).

>I feel like every single person in the future that owns some of the 21,000,000 bitcoins are going to be super fucking rich, even if you only own 1 or 2
That is certainly a possibility. But they could also all lose their money.

>>132632989
Someone has to be willing to buy a single bitcoin for that amount and somelse has to be willing to sell for that amount.

>>132632989
Not that Bitcoin will be worth a ton of USD, but that USD will be worthless.

>>132636297

Like everyone else who "accepts" it, they convert it into cash immediately.

litecoin is the future guys. far more useful in a global market with millions of transactions a minute

>>132632989
bitcoin makes money.. for the people that sell it. those that buy it may as well piss in their wallets.

>>132634634
>ETH
>80GB blockchain will be main currency
MyFuckingSides.jpg

>>132636306
>A government will prefer their own currency since this lets them control monetary policy.

It's not even about preference... It's mandatory

You can't start anew and use an old crypto (BTC) when you don't have the power to print/share them with all your population.

The new government would have to go into debt and borrrow BTC or other currency to buy BTC.

In the end it's much more simple to just print currency or create a new country cryptocurrency.

BTC has no longevity, it's entire value add is that it was first to market. First to market advantage, when that is the only advantage, will not sustain a product.

Eventually whomever businessess accept BTC will accept any or all other cryptos. There's no reason to be exclusive to BTC or ETH or any other when you're in the business of trading in crypto.

>>132633462
what is stopping a cold beer from costing 650 bitcoin in two years?

>>132636332
yes.
you can have 0.000000000001 bitcoin or any denomination you want.
It takes like no effort to do some research, nocoiner.

>>132634889
Anything that can function as a currency has an innate value just based on the properties that let it function as a currency. I.E. its sufficiently rare, its durable, its infinitely divisible. A lot of things have one or two of those properties but few things have all three. Gold has all three. The bitcoin network is what sets it apart and makes it an attractive store of value. My understanding is that as long as people are mining bitcoin then the network is secure. If people suddenly stopped mining and left it open to attack then bitcoins would surely be worthless. The problem with that is its functionally an electricity sink and so is tied into the petro dollar just like everything else. Maybe people are getting rich individually off it I don't know as far as the system as a whole is concerned its just a way of online banking, that is unmoored and unprotected by big institutional governments, which makes it volatile should they decide to crack down on it, which they most certainly will if it ever starts to threaten their traditional reserve currencies.

>>132632989
$100mil times 21 million bitcoin is $241 quadrillion. That is roughly ten times the existing quantifiable wealth in the world.

>>132636480
>they're not backed by anything

Kinda completely wrong. They're backed by the economy of the country or countries who print the currency. If that economy goes full Venezeula the currency is shit.

>>132636807
Why would that happen? I'm not even sure you can mine coins on quantum computers.

>>132637036
hes saying a quantum computer can break the blockchain

>>132636965
That's not how monetary systems work, anon. All currencies today can be printed to oblivion and become completely worthless, that means they're not backed by anything. Your currency is either backed by a physical resource or not, there's no middle ground.

yeah, it gets replaced by memethereum or Tezos

>>132637164
OwShit.jpg
But then again quantum computers would be able to break any encryption (RIP banks, RIP countries, RIP military...). Guess some wiseasses will have to invent quantum proof encryption.

>>132637339
and the game continues

>>132637036
>>132637164
Quantam computers would be capable of hacking your wallet

They'd also lead to temporary hyperinflation as they solved all the mathematical problems leftover very quickly. You can double the length of time it takes between hashes, but if QC are breaking the hashes at insane speeds it won't matter.

There's talk that BTC has a plan in place for when QC come about, but I expect that plan is to just halt trading and then make the new algorithims harder to solve.

At that point normies will never be able to mine BTC ever again unless they get their hands on a QC.

1. Mathematically impossible
2. It fucking sucks dude. have you ever made transactions? they take a long time.

BTC is literally the beta for whatever comes next, and its not eth or ltc or anything out there right now.

>>132637339
>Guess some wiseasses will have to invent quantum proof encryption.
It already exists - called Quantum Cryptography.

>>132636332

The cost of a Cheeseburger is about 40000 Satoshi.

The transaction cost to transfer that amount would buy you a Daily Double.

>>132637249
If you overprint currency you just fucked your economy by inflating it. The currency is still pegged to the economy.

>>132637249
The US Dollar is backed by the fact that we'll bomb the shit out of you if you try to sell your oil for anything else. Stop saying its backed by nothing its a complete misunderstanding that doesn't hold up to reality. If it did, the dollar would be worthless wouldn't? But if I handed you 100 dollars you wouldn't just throw it away would you? So what does that tell you? There is SOMETHING to it. Its not just funny money.

>>132637541
The next big thing might be out already. There's like 1000 different shitcoins available.

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>>132633462
TO THE MOON

Honestly the only sound investment here is to wait for another crash, buy one while they are sub-300 dollars, and just sit on it while you live your life.


If you don't have 300$ to invest in something that is honestly a 50/50 at this point, you need to make serious changes in your life.

>>132633190
>>132634889
>>132634974
people have been saying this for almost a decade now
1999 was 50 years ago etc
but seriously it's been a decade
you people are delusional

>>132637611
God dammit. Guess wiseasses are wiseasses for a reason.

>>132637541
buying and selling take forever on exchanges. but peer to peer is almost instant(unlike with credit cards and banks)

>>132637541
>BTC is literally the beta for whatever comes next, and its not eth or ltc or anything out there right now.
space credits dude, space credits

>>132637339
>>132637611
People are also neglecting to mention that you need a quantum computer to be cooled to almost literally absolute zero before it will even work.

The only companies that can afford these things are tech giants and walmart for some fucking reason. I have no idea what they are using them for but it terrifies me.

>>132633190
HAHAHAAHHAHAHAHAAHAH NO COINER HAHAAHAHAH

>>132637775
I thought you still have to wait for others to confirm it. You can send a higher fee for higher priority tho.
Right?

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>>132637651
You're completely missing the point. The Federal Reserve has the ability to "print" (digitally nowadays) as much currency as they can under the current fiat monetary standard. There are no checks and balances which exist under something like a Gold standard. In fact, the FR has demonstrated quite aptly just how quickly they can expand their balance sheet - and they will do it again.

Cant wait for the first people to get a 1500 qubit quantum computer to decrypt it and steal everything or just mine everything in no time.
Bagholders on suicide watch

>>132637954
check out Lightning Network

>>132632989

Don't listen to /biz/. They're fucking retarded. Crypto currency is a short ride because governments of the world hate competition. Just be a normie with your money, start a business, invest it wisely.

>>132638076
That doesnt mean the USD isnt backed, it means that QE was instituted and there should be inflation coming in once the Fed releases the USD it printed into the market instead of hoarding it.

>>132638076
>gold standard
Gold standard isn't really that good. It can still be cheated as it was in the 70s. You need actual physical gold to be free of manipulation.

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>>132638232
>Crypto currency is a short ride

>>132638158
Individual citizens will not own them unless they are millionaires. They are insanely expensive to even run, let alone buy.

You need a quantum computer to be cooled to almost literally absolute zero before it will even work. This costs a fuck ton to do.

>>132638232
But anon. The lambos. They are waiting.

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>>132638349
>8 years
>long

You have to be 18 years old to post here...

>>132633462
Fuck it, I'm saving up to buy a full bitcoin starting today. I've always thought this.

>>132633190
>computers are just a fad

fuck off, grandpa

>>132638351
Well the obvious solution is to run QC in space. Spacetravel is becoming pretty cheap isnt it? Just hang the QE out the window and then bring it back in when youre done bankrupting everyone.

>>132632989
You have to use it and transact with it for bitcoin to have any value. If everyone holds on to it, then no. If more people transact with it and at the same time people lose faith in fiat, then yeah it's possible

>>132637674
This, although I don't know that it would crash all the way to $300 except in the event of a crash that would completely BTFO bitcoin

>>132638676
Space is terrible at cooling anything. You need to have particles to transfer heat away from the computer. There aren't many particles in the vacuum of space.

>>132638415
Can you tell me what it's like to have to cope with the fact that you're missing out on the single biggest bull market of our time? Born too late to explore the world, born too early to explore space, but born just in time to get in early on cryptocurrency... and here you are making snarky, unintelligent posts about it on 4chan. Are you over the age of 50 by any chance?

>>132638676
>Well the obvious solution is to run QC in space

See that would make it easier, but here's the thing. Space isn't even cold enough. "outer" space is about 2.7 Kelvin, for a quantum computer to not get interference from heat it needs to be at a temperature of around .015 kelvin, almost absolute zero.

Shit is crazy right now, they need to find a way to isolate and discard heat interference.

>>132638076
I know this but I also know that they try to keep it within some limit. So yes they're trying to keep all their different balls in the air and its going to end up failing spectacularly but there are still real world considerations, things that aren't just fiat, that have actual consequences, such, the US Navy just for starters. To suggest that the US Dollar is not backed by anything is to misunderstand your enemy, in my opinion.

>>132638930
>Are you over the age of 50 by any chance?
No but i bet the guy who fucked your mom to produce you was. Did you know downs syndrome is 1 in 11 in women over 49? Autism is 1 in 8. From reading your posts you sound like a pretty "lucky" guy.

If cryptocurrencies are valuable because there are a finite number of 'coins', what stops the cryptocurrency market of being saturated with thousands of new cryptocurrencies made by the ((((banks))))? Isn't it just a matter of time before ((((they)))) take over the cryptocurrency marketplace? They have the financial backing to be able to crash the value of bitcoin don't they?

>>132639157
Im such a brainlet with this stuff, though it fascinates me. Whats the thing about how when you get to the coldest temperatures matter starts acting fucking retarded and moving through itself and being all weird?

>>132639478
THE
FREE
MARKET
WILL
BUILD
THE
ROADS!!!!

I'm going to buy 3 bitcoins and just sit on it and see what happens.

Yeah it's gona cost me $10k, but I don't ever spend money anyway so it would have just rotted away from inflation anyway.

>>132639523
>Whats the thing about how when you get to the coldest temperatures matter starts acting fucking retarded and moving through itself and being all weird?

That's basically what quantum computing uses, that is quantum tunneling.

>>132632989
One big huge scam that will collapse at one point and a small amount of people will have made a lot of money off a lot of suckers who bought in to it.
If you can't hold it in your hand, or if it doesn't work when the electricity is out, then it is a scam.
What are you going to do with your millions in bitcoin when the sun acts up, knocks out the grid for a long time, and sends us back to the stone age?
You're gonna be sucking dicks for to eat is what is going to happen.

The market cap would be in the trillions.
People can and have made other cryptocurrencies.
There's a finite amount of gold too. That's why retards always go on about $10,000+ per ounce of gold.
You've missed the opportunity at this point.

>>132639472
>the guy who fucked your mom to produce you was
> Did you know downs syndrome is 1 in 11 in women over 49
>guy
>women
Seems like you bungled your own lame insult
Anyway, enjoy being a poor faggot, lmao

>>132639581
Do not spend 10k on fucking bitcoins. Buy one bitcoin and put the rest in government bonds unless you want to end up explaining to your family why you're sucking dick for rent money.

>>132638274
so this is what talking to a wall is like

>>132639754
I'm not a degenerate so i just assumed they were in a similar age range. I see now that you're probably a disgusting slum child and your parents are almost for sure divorced. Never fucking speak to me again you sperg.

>>132639915
>I'm not a degenerate
man you're just grasping at straws and coming up with nothing at this point

give it up, brainlet

>>132632989
Each bitcoin is a bet on the future value of pseudo-anonymous blockchain transaction.
Pure derivative as currency.

>>132637462
I predict that by 2030 there will be a quantum computer in every home, and they will only ever need 640kb of memory.

>>132639796
I don't have rent, I own an apartment, paid off, no mortgage.

I don't own a car.

I don't smoke.

I don't drink.

I don't have any expensive hobbies or interests.

My bills are small because I live alone and don't have anything on besides the computer and maybe 1 light or 2.

My money is just piling up, 10k is less than 10% of my cash savings.

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>>132639478
Nothing. BTC is successful because of marketting and word of mouth. Initially it was selling to autists the fiat currency is bullshit and we need to have our own currency and all that. GFC was the perfect time to launch because all the normies in the world were suddenly paying attention to global markets, and witnessing the chaos that they can experience. Fear is a powerful motivator, so people were hedging into this new meme that offerred some form of protection incase the entire world collapsed due to the GFC.

That never eventuated, as obviously crops still grow and meat still grows and economies never really die.

But people had these BTC now, and blackmarkets will do anything so theyd take the BTC and sell you pot. And that just never stopped happening. Winklevoss twins from Facebook gave BTC more social proof, taking it mainstream, which allowed more normies to speculate in BTC.

I assume this means the next global financial crisis would be a good time to invest in every crypto because people are habitual and will redo the same things again.

>>132639993
>thinks crypto is the best investment
>calls me a brainlet

I just ask that when you kill yourself, you don't mention anything about 4chan in your suicide note.

>>132640135
>My bills are small because I live alone and don't have anything on besides the computer and maybe 1 light or 2.
>My money is just piling up, 10k is less than 10% of my cash savings.

That makes investing in crypto even worse.

You know you could basically live without working and still make a profit by buying certain government bonds. It's not hard at all, it's considered 100% safe, and anyone can do it.

Crypto is a gamble, it could shoot too the moon or you could end up holding a 10k pile of your own shit.

>>132640170
>failing at life
>all he can do is post insults on 4chan
>fucks even that up
cya poorfag sorry about your mediocre existence

>>132639478
Say hello to the (((Bancor))) coin.

With a (((reserve))) system included !!

>>132640485
>now he's projecting

How do you post this shit without cringing at yourself?

>>132640427
Why would government bonds be less risky than a world wide internet currency?

If the government fails, don't the bonds become worthless?

big boy businesses won't use BTC, they'll make their own digital only currency that they can control the supply of
you know (((why)))

Is there a smaller unit of bitcoin than 1 bitcoin? I don`t suppose it`s gonna be practical buying a hamburger with bitcoins if it replaces real money, unless they have an equivalent of cents.

>>132636042
>tfw commies ruin everything.

>>132640642
I dont know how you could come to the decision that a speculative asset is as or more secure than government bonds in a developed economy. Thatd be wrong.

>>132640781
Bitcoin is divisible down to the one hundred millionth.

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>>132640642
>Why would government bonds be less risky than a world wide internet currency?

If you think that if you think bitcoin has a better chance of going up than the US government has of staying cohesive there is no advice i can give you that could help you. Invest it all in eth and lit and GO TO THE MOON!!!!11

>If the government fails, don't the bonds become worthless?

Yeah and the plot of fallout begins, so why the fuck are you not investing in CAPS NIGGA?

>>132637787
Underrated post.

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I want to get into the coin nonsense but its the kind of thing I'd end up fucking up and getting scammed or some shit.

It's unlikely the REAL value of bitcoin could ever suddenly skyrocket to some absurd amount because it would be impossible for people to turn bitcoins back into realmoney or services if they're in a state of complete chaos.

i saw the price under 200$ and it was glorious

>>132636578
Because the transnational utility of Bitcoin is shit. 10 minutes to clear enough for a beer?

I'm sorry faithful, but that is never going to work out long-term.

Good for short term speculative gains though. Like any bubble.

>>132634889
And a piece of paper does?
Also, if the world gets bombed into the stone age, you can't eat your gold and silver bars.

>>132633190
Didnt you learn your lesson after making this post 3 years ago?

>>132632989
segwit is about to fracture the bitcoin community
it's an unscalable technology and every retard wants to go a different direction with fixes which will be the death of the coin

>>132632989
>
What's stopping them from using the technology and never adopting the currency known as BTC, thereby rendering BTC worthless?

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>>132641100
>>132641100
STOP BEING AFRAID!!!!!!!!!!!

Why live life in fear, bro?

So you spend $3000 and buy a whole bitcoin now and in 10 years time, it's worthless...so fucking what? Is that really so bad? Are you saying this is what you fear?

Mother fucker if this is what you fear, you've lived a sheltered mother fucker life nigga.

Spend in moderation, buy coin in moderation.

Just fucking do it.

We're all going to fucking make it brah, and even if we don't, we fucking tried.

Fuck the no-coiner fear mongering negative nancy faggot ass baby bitch niggas who never tried.

https://www.youtube.com/watch?v=Qsa2BbtOq3o

>>132636393
These 'shills' are just NEETs who dumped their welfare money into bitcoin and want to stir up demand for it

>>132642123
wtf im zyzz now

>>132641956
wrong

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>>132632989

>>132632989
https://www.youtube.com/watch?v=5JT0Kq01CFg

silver is the future

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because theres not that much money in the entire world

21 million coins times 1,000,000$ , not that much money in the entire world its impossible theres a limit of what a bitcoin can be worth

Crypto-ponzi/pyramid scheme

If you can't hold it, It ain't real!

>>132632989
>Is there any reason why a single Bitcoin wont be worth $1,000,000 USD or $100,000,000 USD each in the next few decades?
Because the kikes will kill it first. They'll probably go after the people who used them, too, if given the chance.

However, if the kikes are gassed race war now, the whole thing is up in the air, as normal/physical currencies become sane again.

>>132644021
>21 million coins times 1,000,000$ , not that much money in the entire world
what? total money in the world = quadrillions

>>132632989
>falls for bitcoin meme

it's got pretty limited circulation ability compared to fiat

>>132645199
this is the single most retarded post on /pol/ since the soul eating thing

>>132635166
Yeah, and what happens if/when govts start valuing bitcoin as a means of international commerce?

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>>132645508
google says all the money in the world is 60 trillion

you would have to have 100% of the worlds wealth in bitcoin for it to be worth a few million

>>132645947
Governments just want to own the private companies that take transaction fees between crypto traders. They could really give a shit what crypto is used or why.

>>132632989

Keep using them bitcoins. all is good under the sun.

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>>132636690

its 150GB already, only worthy competition against bitcoin is coming from monero

>>132645947
That won't happen.
No government will ever give legal backing to a currency that cannot be tracked or is unreasonable difficult to track.

>>132638930
You just proved him right, can't wait to to hear about your suicide when you find out your currency is a scam.

I'm not sure how wise it is to put one's wealth into a form of currency that only exists as long as telecommunications lines are operating. You can be rendered insolvent by a solar flare, for God's sake.

>>132638076
Yes, by selling bonds you faggot. Which are backed by the USA government & military. Exactly what people have been saying.

>>132632989
It's incredibly volatile. No sane investor would put their money into it

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>Bitcoin
You mean Ponzi Scheme?

>>132635467
...You mean like cash, stupid?

>>132632989
governments can create their own crypto backed by their government.

>>132632989
Dumbass here, why can't Jews make their own version of it? Or is bitcoin a Jewish invention? If so, then why doesn't a first world country make a competing currency? .

>>132653489
Putin stated a while back his plans for a cryptocurrency. It went by mostly unnoticed but it was literally a declaration of war against the Silent Weapon system of the deep state.

>>132636297
Wait, they do? I've got a couple dozen of them from farming in the early days when I was bored. I've never used them because I thought they were only good for drugs and hired killers.
Are you telling me I can buy videogames with them?

>>132654164

Just delete them desu

>>132636393
DON'T DECENTRALIZE CURRENCY GOYIM

>>132653489
They did it was called bancor and it was a scam

>>132654164
You can buy games on steam with BTC

I bought bitcoins quite a while ago to buy drugs online.
Was a few dollars worth left in bitcoin balance after the order. Recently i visited the site again and the balance had grown enough due to the rising value of bitcoin for me to buy the same thing again.

>tfw you could have been settled for life if you had bought bitcoin when they were worth less than dirt.

>>132654988

And spend more than $20,000 on games?

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should i buy some bitcoin with $2500 neetbux i have saved now?
give it to me straight, i already considered buying them years ago, i could have had unironic trump money now.

>>132654988
But there's nothing left I want to buy. The sale just ended.

>>132655625
Wait, how much are they worth now? Last I looked they were worth like 300 each. which was decent, but not 20k for 27 of them.

>>132654421
don't do this.
actually you should make sure they are safe by checking your PC for the malware 'system32' and deleting it immediately.

>>132654164
If by a few dozen you mean ~30, you have ~$80k sitting around... I would not spend that all on video games....

>>132656194
>Wait, how much are they worth now?
Let me introduce you to my friend called Google...

>>132633462
>tfw I was underage when bitcoin started up
>tfw I wanted to buy ~100 coins when they were cheap
>tfw couldn't convince mum to do it

Could have cashed in some mad dough now. Oh well, just another missed opportunity for the missed opportunity collection.

>>132657560
I've got 27 and some iirc. Also jesus fuck. That's a lot of fake money. Buying just one game with that would pay for the electricity costs of getting them in the first place.
Don't really want to risk my steam account doing that though.

>>132632989
you know you can break btc down basically infinitely, right?
you know they can fork to remove the cap at any time, right?
you know there are more than a thousand alternatives that already are taking marketcap from btc, right?

>>132658367
You can just sell them for real money dude.
Hell you could use that to live off of for years.

>>132658628
I doubt we can do that in Canada mate.

>>132658870
Yes, you can.
God, why am I helping a leaf get 80 grand.
Send me one of 'em, pls.

Fucking bump

There'll be people saying Bitcoin has no value / not backed by anything when its $20,000 per and their gas station and supermarket accept it

>>132658870
Go to America every once in a while, sell a bitcoin, go on a shopping binge, go back to Canada. You got a lotta money there. If you're not gonna use them then give em to me.

>>132633462
>i have this weird feeling
That is not a sound base on which to build your fortune on. Use logic and facts, not feelings. That's what leftists do.Feelings cloud your vision.

>>132632989
You wanna know why? Because wealth is not meant to be in the hands of dumb niggers and autists. I have nothing against Bitcoin or cryptocurrency in general but every fucktard owns a 1 or more bitcoins today. Think of it like you go outside and give $100,000,000 to 100,000 random retards. That's the sitoation we are looking to. It will never happen.

>>132659239
I can't go to America. You guys don't let me in with my record.

>>132635443
>considering how unreliable the blockchain really is
This is quite literally the opposite of why a blockchain is useful and tokens tied to it maintain value. Can you point to an example where the Bitcoin blockchain was "unreliable"?

>>132660275
Any hard fork in any blockchain. . .

>>132657866
It's ok, I sold 8 btc for $18 a pop when I bought my original 1 for $12. I was playign satoshi dice and thought I should cash out while I was ahead. Retard.

>>132655856
No. They are a digital fiat currency based on nothing. Get some gold or buy some junk silver bags on ebay and sell them when the prices go up a tick. If you have 15k+ buy a COMEX deliverable silver bar and hang on to it for a few years.

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>>132636346
>The energy cost to keep bitcoin rolling is fucking retarded.
That retarded expense of energy is what protects the blockchain from double spends through 51% attacks. If you want to break Bitcoin, you're going to need a shit ton of ASIC miners and enough energy to power most major cities.

It's called security. Other tokens use this security to perform different functions and tap into the value security of Bitcoin. Just look at steem and being able to post content and earn tokens tradeable for Bitcoin which can then be sold into any currency on earth.

>>132636965
Guess how many Venezuelans are scrambling for and accepting Bitcoin.

>>132652755
How is it a ponzi scheme? It's a cryptographically secure way to conduct transactions without a central authority.

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>>132632989
>>132633190
>>132634634


Bitcoin is just another currency but will endure.

>>132655856
Not yet. Loads of people jumping in at the moment. Wait until after August 1st. We could be seeing a slow market correction over the next few months/year like the previous jump.

Why is infinite divisibility a good thing? Sounds unstable.

And gold cannot be broken down past 1 atom so it isn't infinitely divisible is it?

>>132658599
>you know you can break btc down basically infinitely, right?
This allows the monetary supply to expand without being inflationary. You can't break a dollar down past a penny so you have to print more dollars.
>you know they can fork to remove the cap at any time, right?
Only if there is 50% consensus amongst the miners. That's a pretty big ask.
>you know there are more than a thousand alternatives that already are taking marketcap from btc, right?
Bitcoin is just a gateway.

>>132634889
It's all about psychology this afternoon guys, no fundamentals or analysis required.
You are all saying it's intrinsically worthless, and that it's a shitty currency, and you're
absolutely right. But you all haven't taken into account the speculative aspect of Bitcoin.
A lot of it has to do with emotion, and if you can gauge that, it's easy as shit to mark out
where people's fears and hopes lie within those numbers. Play and prey on peoples fears.

>>132632989
https://bitcoinfees.21.co/

>The fastest and cheapest transaction fee is currently 330 satoshis/byte, shown in green at the top.
>For the median transaction size of 226 bytes, this results in a fee of 74,580 satoshis.

The more valued a bitcoin gets, the higher the transaction fees.

Lol you guys are actually fucking retarded if you plan on buying into virtual currency now. The markets are so inflated right now, shits going DOWN.

But go ahead, dump all of your money into btc, I don't care how you lose your money.

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Is there any reason why a single Bitcoin wont be worth $1 USD or $0.01 USD each in the next few decades?

I mean, if there's unlimited supply of competing crypto currencies, and big boy international businesses start using alternatives to BTC to buy/sell in millions/billions, wouldn't they not care if BTC is worth zero?


I feel like every single person in the future that owns some of the 21,000,000 bitcoins are going to be super fucking hosed, even if you only own 1 or 2.

>>132635028
Haven't laughed that hard all day. It's literally nothing and that is what it will be worth in 10 years.

>>132662348
They will eventually hit a max price point and then it will either decrease or slowly increase each year and be tied with inflation.

>>132634889
top kek, fiat currencies worth shit it's common knowledge but we're nailed to them via arcane kikery

>>132635166
bitcoins are regulating governments in the domain where govts issue worthless paper with written value

Monero is where the money is, secure private and has built in laundry system. It's already becoming the currency of choice on alphabay. You guys know vice and degeneration are trillion dollar industry's and are not going anywhere soon but choose not to profit from it.
The old systems are failing we have eroded public confidence in the media we helped elect and "unelectable" President If everyone on /Pol/ looked into crypto embraced it and used it as a weapon we could flip the script on the Jews.

>>132662348
No one could refute that with certainty. You're right, there could be another technology that comes along and blows Bitcoin out of the water. However, Bitcoin was also the very first cryptocurrency, and has a nice lump of cash behind it. A lot of the developers and investors who hold stake in Bitcoin definitely don't want it to drop in price as you described

>>132632989
I don't think crypto as a whole has a ceiling, but BTC definitely does. There will come a time when theres chaos in the financial world and there will be a mad rush to bitcoin. It will probably hit a crazy level, maybe even like 50k, but then enough people will realize that the "value" isn't necessarily in bitcoin itself but in the technology of the block chain. Folks that are on the btc train mostly for actual transactions and not speculation will migrate to a less volatile cryptocurrency. In the long run we'll have a relatively stable digital ecosystem of competing crypto currencies, each filling their own niche.

>>132662348
Wow I answered that seriously. Didn't even read the original post. Call me a faggot I deserve it

>>132641578

Physical metlas have intrinsic value, and are valuable irrespective of whatever happens in the world.

Even if a nuclear exchange occurred, gold and silver will retain value.

Bitcoin will have nothing, as its fucking fried, and no comm systems to verify/transact with.

>>132632989

Back in 2011 I had just over 1500 bitcoin.

I used em all for a long weekend party.

fm degenerate l

>>132633462

I was this close to buying a few fucking years back to buy drugs with (lol druggy) at uni.

It's totally the kind of thing I would have just left lying around too.

Could have been fucking rich as fuck.

>>132633462

They're going to split it again soon. Either way I'm gonna buy some ans just stick it in the bank.

>>132665021
Such a party. Was it a full 12 pack or did you need to toss in some cash too.

>>132665564

What's a 12 pack?

Just methox and md. I'm not some fancy lad.

The US dollar is backed by other countries being forced to trade oil in US dollars. Other countries that have zero need for US currency must have hoards of US cash on hand in order to trade thru OPEC.

It's like going to an arcade and their machines only accept their tokens.

I love these bitcoin posts. Most have no idea what it is and liken it to investment in a stock.

Bitcoin has a FUCK TON of value. For instance:

Never before in history has there been a network that:

Is transparent - all code, including mining, and core software (runs nodes, wallet) and even some 3rd party software is completely open source.
Units on that network are completely fungible
No central party (for now) verifying transactions
Units are capped
Units are non-counterfeit-able - they cannot be counterfeited

That's just to start.

The best way to think of it - in my opinion - is as digital land. What's that worth to you?

A network/system like this (the blockchain) does directly derive it's value from the monetary value imbued in each coin. IE Blockchain's are useless inventions on closed systems or systems without tokens, coins, etc. with some value. They are literally just a database being called something else.

Bitcoin was a very interesting thought experiment that combined blockchain (databases) with tokens that could one day have value - that became real and gained traction, very slowly. Money is natural. Bitcoin is digital money.

IMO there are a ton of problems with it however - but they're men made... ways it could be corrupted, ways it could be manipulated.

But, if remains open enough to counter these attacks, there's no reason it can't grow to hundreds of thousands/coin.

>>132665709
>What's a 12 pack
What, do they only sell two fours there or something?

>>132666147

If you're talking beer it comes in sixes and twenty fours and doesn't cost you a grand.

Canada currency must be all kinds of fucked up.

>ctrl+f "ethereum"
>1 of 1

This thread sucks lol

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>Out of all the coins he could possibly buy he's going to buy bitcoin

Oh my

>>132666775
Ethereum is a joke and a scam. I don't doubt that it will continue to rise due to network effect/marketing, but if you understand the fundamentals, the difference between ETH & BTC, as well as a couple other important points (pre-mined - no cap on coins) you realize it's just FIAT 2.0 - which may have some value, but it's not a place to invest money.

You stupid fucking gaijin. It was me! It was me all along! Do you have any idea how much money I made hoarding most of the coins before their public release and selling whenever the price spiked? I'm the only reason prices dropped I sold so many! I still have more coins then everyone else combined. I'm going to make a few more billion then dump EVERYTHING just to spite you by making my creation worthless. Ahahahahahahahaha. Fuck you pigs!

>>132666528
>Canada currency must be all kinds of fucked up.
You're one to talk Australia.

Also you said you had 150 bitcoin. It was worth like a quarter in 2011.

>>132639712
This you retards, for the price to double the market cap has to double as well. The current market cap of BTC is 42 billion usd, for BTC to go to 1 million usd, the market cap would have to go to 16 trillion usd. And this is just for BTC, there loads of altcoins and the BTC dominance just keeps going down.
I wouldn't go so far as to say the opportunity is passed to make good money in crypto, but BTC is definitely not hitting 1 million unless there is massive inflation and normies poor their money into crypto.

>>132632989
The reason bitcoin will not be worth real money is this :
The wrong people have them.
People without any actual power hold bitcoin. Nerds, techies, outcasts, idealists, libertarians.
Bitcoin's value can be wiped off the face of the earth under 30 minutes with the strike of a pen by making it explicitly illegal in the US and China. Every crypto currency not held 90% by the 200 most powerful people in the world WILL eventually suffer the same fate. The reason crypto is not outlawed is that unlike money, most crypto retains perfect trace of where the money passed through - imagine if a ledger magically added a new record every time a dollar bill changes hands. People using bitcoin are paying to have their transactions tracked, and public.
But really. You are a grown man. How do you even imagine them letting you just own something that will keep rising in value? Do you even know who the enemy is?

t. owns 10k$ in crypto and plans to cash out soon

>>132661484
It's the exact same as a fiat currency except there's no government backing the value and it inflates at a constant rate. Because it's not backed by a government, it relies entirely on people giving it value. Then, since people are looking to make money, they sell it to someone at a higher price looking to make money themselves.

The only people using it as a currency are people buying illegal shit. Everyone else buys bitcoins hoping that it will increase in price so some other loser will buy it off of them and repeat the process.

Can someone give me some in exchange of some money? Maybe one of you who got them dirt cheap years ago. I can pay you multiple times the original price but can't afford today's prices..

[email protected]

>only used to buy ilegal shit
>not accepted anywhere
just bought a oculus rift for 520eur and a 3tb hard drive to store all the VR porn im gonna download
stay mad wagecucks
also got a new bong from local growshop that accepts it too

fyi alzashop.com

>>132658870

If you're not playing dumb, just make a Coinbase account and cash them out.

>>132668816
>Bitcoin's value can be wiped off the face of the earth under 30 minutes with the strike of a pen by making it explicitly illegal in the US and China
lol no

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educate yourself nocoiners

>>132670102
I'm not gonna fucking link my bitcoin to a named account you IRS jew.

>>132640135
Isn't the housing market crashing again in some US places?
I'd by some cheap real estate.
You can rent it out. Forever

>>132670835
dude you can always just transfer them to another address and claim you were hacked, pass them though a tumbler and they can't prove shit

>>132637787
Decentralized Credits*
FTFY

>have a BTC
>It goes to 6 gorillion USD
>max you can withdraw from most exchanges is 15k/week
>exchanges are as reliable as a crack addled Negro with Down syndrome even on a normal day

>>132640135
oh you're ozzie. You can still buy in the US online. Oz real estate is ridiculous

>>132670237
Listen kraut, if it ever starts getting too powerful and neither legislation nor propaganda work, there will be another world war to wipe its holders out for being antisemitic. You of all people should know this.
How can anyone look at the last 100 years and think actual power can be bough for cheap and kept in a locker & left to grows is beyond me.

>>132671001
But I can't prove I was hacked. CRA (Canadian IRS) isn't the fucking legal system. It's not about them proving shit, it's about you disproving their claims.

There is no fucking way I'm gonna link any shit to my real name.

>>132632989
yeah. thermodynamics.

>>132671300
It probably works like that everywhere too, but on the bright side they can't embargo you if you don't have any assets :^)

>>132671300
>postin' shit on """""anonymous""""" website

>>132632989
yea, it's called the "real economy''

Bitcoin is completely useless. The only people buying it are speculators, that is, people who want to buy it to sell it and make a profit.

Bitcoin enjoyed a brief period of actual usefulness during the Silk Road days, but after the raids its become apparent that even bitcoin economies have to be legal. The IRS is even muscling in. Once that happens, it becomes completely useless.

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>>132672079
>the Silk Road days
>gone

>>132632989
>Is there any reason why a single Bitcoin wont be worth $1,000,000 USD or $100,000,000 USD each in the next few decades?

Yes because it has not practical use in most of the world and the VAST majority of it is owned by investors as an asset, not used as a currency and unlike gold, it has no innate value.

>>132671300

Well don't complain when your $80,000 disappears because you're too stupid to figure out how to change it to cash. You'll have to pay fucking capital gains no matter what if you actually want to use your bitcoin. Until then it's just fake money.

A fool and his money are soon parted.

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>>132640427
You sound like a poor. Would you fag out so much if he wanted to play poker or roullette with the ten thousand? Would you be literally shaking?

I have over 100k of crypto from less than 10k 3 months ago. The total market cap of crypto is around that of td ameritrade. One fucking leaf bank.

Yes, it could fail, plummet, crash. Could 10x also. He might never get it back. Taxes might fuck him. But it doesn't matter because he is not poor like you.

Fuck, I hate poorfag opinions. I had them when I was poor and they kept me that way longer than I had to be. Took me 31 years to make a million and i made it all in the 30-31 range because I thought like a poorfag for too long.

>>132637842
Logistics predictions.

>>132632989
>be worth $1,000,000 USD or $100,000,000 USD
the thing most people have them as an investment and want to cash them out for fiat money at some point.

>>132672402
It's always been fake money. Not like it cost anything besides a bit of electricity. And if that makes things real then TV shows and videogames are real because I needed to "spend" electricity to make them appear.

Not paying any fucking taxes on fake money.

>>132672827

I'm pretty sure you're leaf-posting. Nobody is this stupid.

>>132632989
Quantum computing ends this generation of cryptocurrency. You're almost to the point of cryptosolubility. You have about 9 months of crypto-bubble at a maximum. I recommend selling off at 6 months and shilling the fuck out of everyone when the first quantum-mined coins start appearing. Within a month of that, it will all die off with no recovery. However, fiat quantcoin will be available around then/after that, much more secure. But also not forever...

In the year 2525... (which is actually 2025)... https://www.youtube.com/watch?v=izQB2-Kmiic

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>>132672827
wait videogames are not real? tv shows are not?
what have i been playing and watching all this time?
wtf

>>132672988
Pretty sure you're just toothpaste, but you didn't see me bringing that up before you started shit.

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>>132673108

Send me them.

1KVKoJn3k6pK9TRrdEfJBcWWomjTddhHJ

>>132633269

think one day governments refuse to trade it ...

nobody can force them exhange it with money

>>132673108
>>132674346
Obviously, I need them more. I guarantee I'm poorer.

1DbCuJRGwNoNrerrPTuKbBAfA9BthS9tgL

How does one buy bitcoin and where to store it
>Normie question

>>132675151
Go to a trading site like https://bittrex.com/ and start from there.

>>132675151
Use Paypal to cash out when necessary.

>>132675256
Okay thanks anything i should know?

>>132675829
If you're sending bitcoin or any other cryptocurrency with Bittrex, don't forget to get your email for a confirmation, otherwise, it will just sit in "pending" forever. Also, don't fall for the Ark meme.

>>132674346
Fake money or not, I'd no sooner give one to a Dutchman then I'd give him a tulip from my garden.

>>132674788
And you traitors are worse.

>>132675151
Don't buy it. Waste of money. Just mine when you're afk.

>>132676279
Ark meme?

>>132676707
I lost 40% after investing in this pile of dogshit.

https://ark.io/

>>132676920
>he fell for the ark meme

>I mean, if there's limited supply,

this is the only problem with cryptocurrencies.
>if
There is a limited supply of bitcoin, but there is not a limited supply of cryptocurrencies.

I am a big fan of the idea of bitcoin, and of the blockchain, but what I just outlined, undermines (pun) the anti-inflationary aspect.

>>132676920
what are penny stocks?

look at /biz/ its fucking retarded.

>>132678127
Are those the things on the pink sheets that you get a 50% commission for?

>>132678354
pump & dump my friend.

>>132637679
>>132641736

But it may become true.

If someone made a new digital coin, much better than bitcoin. With a new idea that no one ever had or thought before.

Maybe then bitcoin would really die, as everybody would jump on this new coin.

>>132642123
Thanks for the video anon.

>>132635443
>Most currencies are backed by gold
(not true, by the way)

>>132647451
>cannot be tracked or is unreasonable difficult to track

this is completely backwards, every transaction made is stored in the blockchain, it's certainly way easier to track than paper money

>>132678598

There's already tons of coins better than Bitcoin but they can't surpass it, Bitcoin is like the Windows of cryptocurrency good luck destroying it.

>>132666964
if you offered me 10k worth of btc, ltc, dogecoin, ethereum or whatever the fuck i would take bitcoin too
the other coins are just copycat ponzi schemes, at least bitcoin is a real thing

hidden pepe spotted in green paper pile of dosh.

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>>132632989
If bitcoin ever reaches that level it means we either have a problem with the dollar, or the coin will be in a type of mania. The coins have their use, but when you get to the point where you can buy a house, farm, 50 ar 15s and a truckload of gunpowder id say its time to cash out imho.

>>132632989
>Is there any reason why a single Bitcoin wont be worth $1,000,000 USD or $100,000,000 USD each in the next few decades?

yes, the market for mail order drugs and other illegal transactions isn't large enough to support that

>>132634889
>Because it has no innate value.
it's the easiest way to buy drugs from military goons on the internet

if drugs become legal the only reason bitcoin will still be around is blackmailing hospitals when you take over their computer systems and moving money out of a country where the FED shut down the central bank

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Everything is going digital

https://www.youtube.com/watch?v=KAExa9P7hME

>>132669861
Same here, if anyone bought Apple stocks when they were cheap I'll pay several times the original price but not what they cost now

>>132665151
And then you'd forget to make a backup, uninstall the wallet, and shoot yourself in the head when you realized that you had $10 million worth of BTC, that you now can't access.

>>132634889
The value is in the blockchain technology. Bitcoin is just a proof of concept.

>>132634889
It does have innate value.

It's easy as fuck to transact to anyone in the world in a pseudo-anonymous way. That in itself is more value than a lot of other currencies. Too bad that the blockchain is becoming too big and eventually you'll need a third party to host your wallet.

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>>132680572
>yes, the market for mail order drugs and other illegal transactions isn't large enough to support that

What do criminals do when they have illicit funds that they need to launder? They set up shitty businesses and launder small amounts at a time. Cryptocurrencies allows one to launder without paying taxes in a lot of countries.

Cryptocurrencies allows for all criminals to launder their money with ease, with zero chance of being tracked by law enforcement or tax authorities.

>They buy massive amounts of BTC for cash on localbitcoin
>They trade BTC for anonymous cryptocurrencies that are truly anonymous (Monero/Dash) on an exchange
>They mix the dash or make 2 Monero transactions
>They exchange back to BTC
>They can now withdraw the BTC to clean, taxable (or untaxable in some countries) currency

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>>132635443
They aren't backed with gold but they should be.

>>132632989
Nice. I just bought 100k.

>>132684807
Mexican drug cartels uses the BTC>Monero>BTC>USD route.

It saves them the cost and risk of transporting cash across the border to Mexico.
They buy large amounts of BTC for cash (at a hikeup) in the US. Mix the coins to become untracable, then sell them.

The legit money goes from the exchange to the bank accounts of offshore companies in Ras al-Khaimah, which are controlled by cartel strawmen.

The cartels no longer has to transport the money back across the border, and they no longer have to pay taxes on it. All it costs them is 1-3% in fluctations while mixing the coins.

And no FBI, I'm not cartel. Or one of their launderers.

>>132636480
>they're not backed by anything.
actually, Currencies are backed with EVERYTHING a Country has.


That's why a Federal Reserve system was instituted around 1915, when telephone, telegraph, high speed printing, and rapid coast to coast transport allowed the Banking system to check the "pulse" of the country every few weeks (today its every few days), and judge how much Money should be in the system to enable current transactions.


Gold was not needed anymore as a framework to "control" the economy, it was a last vestige of the Medieval roots of the European Banking System.

>>132684185
In my opinion, Bitcoin is the only technology that justifies using a blockchain. People are now talking about using them for everything but they forget two things:
a) you need a fuckton of users to prevent a 51% attack
b) there has to be a HUGE motivation to do the PoW: solving the hashes requires lots of computation time, which translates in money. Bitcoin solves this because you earn bitcoins, which are limited in nature given the 21 million upper limit.
c) you could probably achieve whatever you're trying to achieve without using a blockchain.

>>132639682
This.

>>132672827
bait

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>>132634889
lmao bitfags crying over this