The crypto-wars begin. https://www.bloomberg.com/news/arti

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>>136594560
>bitcoin will replace the petrodollar
Buy Bitcoin

all the fucking boomers and institutions in the west are trash they're why Russia and China will eclipse us

>>136595271
The west has the most to lose from a radically transformed global monetary system.

>>136595625
*elites in the west I should say.

Average Joe's should be dancing in the streets in celebration of a return of their purchasing power.

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>>136594560
Holy shit bitcoins are worth 3362.00 USD right now.
I remember when they were basically worthless, talk about missing the boat.
>tfw I'll always be a poor fag.

>>136596225
>oh shit bitcoin is $10
>i missed the train should have bought
>oh shit bitcoin is $100
>i missed the train should have bought
>oh shit bitcoin is $500
>i missed the train should have bought
>oh shit bitcoin is $1000
>i missed the train should have bought
>oh shit bitcoin is $2000
>i missed the train should have bought
etc.

>>136594560
dont get me wrong bitcoin market is only 40 billion dollars, that is the ammount of money brazilian government spend with healthcare alone. It will take a while for bitcoin to really be relevant to macro economics.

>>136597842
It's actually valued at almost $60B. But keep in mind that it was valued at <$15B in the beginning of 2017.

If bitcoin manages to take a significant market share away from gold as a store of value (something it's already starting to do), It will be relevant very fast. Some countries are seeing this.

For example, if Bitcoin captures just 10% of the gold market, a single bitcoin will be worth $50k, and the entire market cap will be worth nearly $1Tn.

>>136596872
Hind sight is 20/20 anon. I've lurked around on /biz/ occasionaly out of sheer curiosity. All they talk about is crypto currency. I know there are other coins to invest in than just bitcoin.
But where to invest your dollars is the real question.
Seeing some anon saying doge is about to moon doesn't exactly fill me with confidence.

>>136598232
and how much money do we have in circulation again ? 75 trillion ? im not saying bitcoin cant get to 1t marketcap, but when is the more important question. You see, bitcoin and its tech work too well for our current political system, transparency and smart contracts (in the case of ether) and shared computational power (in the case of golem) will have to break a huge political resistance. I mean imagine if they start using the blockchain and smart contracts to deal all the government transactions ? that would change the way government works. Countries like brazil would never allow it since we are corrupt as fuck. Not only that this system would literally break the state. Eventually this might happen but i dont know if i will be able to see it in my lifetime. I do won bitcoins and im learning how to program smart contracts, but i know the political limitations of this tech, its sad but very true.

>>136596225
look into ethereum, bitshares, iconomi and steemit. not too late to get in this game.

>>136598882
True, I should just pull the trigger and buy some already.

>>136598882
t.brainlet
Don't listen to this altcoin fag. Buy the one true coin: Bitcoin. (I've been in crypto since 2012, I know my shit)

>>136594560
> placing faith in a currency that has even less specie value than fiat currencies
> thinking youre clever

bitcoin is not, and can never be a "store of value"
most of the world doesnt want it, doesnt trust it and recognizes that it is not even an "it"
you might as well invest in "legendary equipment" on your favorite world of warcraft server and consider your retirement secure.

TLDR; bitcoin is the fiatiest of fiat currencies, without even the dubious virtue of backing from a nation state.

>>136594635
This guy gets it

>>136598864
Don't think about it's growth in linear terms.

It doesn't need to capture all of global wealth to be important geopolitically, not even close. But that is besides the point. You mention how countries like Brazil will never allow it, and maybe that is true, but all that will do is hurt Brazil as other countries like Japan do adopt its use. Eventually Brazil will be forced to adopt it, or will suffer the economic consequences.

Honestly, the west is more likely to resist cryptocurrencies than countries like Brazil. Developing countries will see cryptocurrency as a way to escape the petrodollar paradigm.

>>136601116
Hi Lloyd Blankfein

>>136596225
in 10 years BTC will be worth $500,000

>>136601403
And that's a conservative estimate

>>136601116
>Fiat money is a currency established as money by government regulation or law.
>Fiatiest

Nobody wanted or understood the Internet in 1992 either.

>>136598796
Bitcoin is the root of the entire crypto market. If you are investing in alts, you are still betting on bitcoin as a store of value.

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>>136596872
yfw you bought 57 @ $606

>>136594560
>more fiat currency
no thanks I already have worthless paper, worthless electrons is going the wrong way

>>136601510
> b-b-but other things that were crappy and worthless at the beginning turned out good...
and shitloads of crappy ideas also turned to shit.
remember:
The Snuggie?
Popeelware?
Ginsu knives?
Communism?
i could go on, but i think i have made my point

can i pay my bills with it? No
can i buy a beer with it? No
can i tip a stripper with it? No
can i buy groceries with it? No
can i save it? No
can i flash it around at a nightclub to attract bitches? No
can i use it to pay my mortgage? No
can i use it to invest in an enterprise? No

so it's a "currency" that exists solely in digital "wallets" that cant be used to purchase anything except from a very few e-retailers who sell korean body-pillows with cartoon ponies on them, marvel character themed bento boxes and fleshlights

sign me up.

>>136602221
Want to buy a house from me anon? I'll just need you to physically mail me the gold for purchase.

Oh what's that, you are worried I might just run off with the gold? Hmm, well now we need to pay someone to write us up a contract. And we also need to hire an escrow service to hold the gold you are sending to prevent me from running off with it. Of course there's always the off chance that the escrow service is corrupt, or the government will favor my interpretation of the contract over yours or vice versa. In fact they could just seize the gold in escrow based on some arbitrary ruling...


If only there was a way to do all of that without trusted third parties and the systemic risk of centralization...

>>136599214
How many ppl do you know who owns btc? im guessing just a few at most. Its still insanely early for bitcoin and not even close to being mainstream. The best time to plant a tree was 20 years ago. The second best time is now.

>>136602844
You're dumb. It's gold backed instead of monetized debt. Guess which one has lost 98% of it's value since 1913? And previously in Germany, and previously in Greece and Rome and etc etc etc.

>>136602562

Same could've been said for the internet in 1992 as well you shortsighted faggot.

>>136603015
You are speaking to the choir with regards to central banks eroding the purchasing power of their own nation's currency.

Everything I said in the given scenario still applies with gold backed paper money. The point is that cryptocurrencies solve a centralization issue, and eradicates need for middlemen and third parties to reduce risk. That is something that gold will never be able to do. That is where cryptocurrency's value is derived.

>>136600922
why not spend a bit on other currencies?

>>136598796
>Hind sight is 20/20 anon

this. I'm tired of people acting upset over not investing in BTC even though they had a vague chance of doing so like five years ago. Almost everyone on here was exposed to BTC back when it was worthless and whether deliberately or through disinterest never bought any. That's how speculation works

>>136603059
back in '92 the interweb was promised too be a mechanism for communication data access and porn.
it delivered on those promises.
bitcoin promises to be a currency that no real establishment will use, with zero real backing, and a shaky foundation of "value" dependent on millions of chinks doing math problems.

ill keep my dollars, gold and silver, thanks.

>>136603316
> bitcoin eliminates the middle man...
bitcoin replaces the middle man with a new, shadowy unaccountable middleman and millions of chinks farming math problems to create an endless supply of data bits

nobody can go out and dig up a bitcoin, you have too BUY them with real currency, and then cant use them for anything until you find a sucker willing to give you THEIR real currency in exchange so you can purchase a pack of marlboros at the circle K

sounds legit.

>>136606528
>Shadowy unaccountable middle man
open source code is shadowy? Sure, millions of chinks are mining but they have to follow the protocol or else they're worthless to the network.

Millions of chinks mining is also simply a result of energy cost disparity around the world. The whole point of this thread is that Russia is entering the space, with other operations in other countries beginning to compete.

>nobody can go out and dig up a bitcoin
Yes, you actually can. You just need the right hardware for it. Just like you need the right hardware to mine for gold.

You're focus on bitcoin as a useful day to day currency in the developed world shows just how much you miss the point of the technology. You realize only a few hundred million people have access to modern financial services on earth, right?

I wouldn't trust or click a link to Bloomberg but I'm holding a lot of bitcoin long term

>>136607556
> the code is open source...
but the system is closed.
who operates the basic mechanisms of transaction management?
who regulates the exchanges
who watches the watchmen?
see Mt Gox. for more information on how easy this shit is to scam

> you can dig it up...
only within the tightly controlled parameters established by the shadowy cabal that runs this thing from behind the bamboo curtain and the great firewall of china.

> only a few hundred million people can use currency at all cuz the third world is a shithole
you posit that some witchdoctor living in a grass hut in in zimbabwe is gonna bitcoin his way into the 21st century?
people that have no access to real currencies wont be able to use your mystical unicorn imaginary currency either.
how do you propose they acquire their "bitcoins"? selling their organs in china might work, for the chinese, but any non-chink who mails his kidneys to guandong glorious peoples university hospital is unlikely to receive the promised remittances.

currency requires TRUST, and i simply dont trust you, or the other bitcoin touts offering to sell me a bag of magic beans
this is also why i dont accept mexican pesos, the chinese yuan, the vietnamese dong (heh heh, he said dong), or the ausfailian dollary-doo
if i cant reliably transform a currency into goods or services, or a different currency, then it's not a currency, it is a novelty.

literally Clownshoes.

>>136610294
>but the system is closed.
wrong
>who operates the basic mechanisms of transaction management?
An algorithm that anybody can read

>who regulates the exchanges
not part of the bitcoin network. Those are bridge points from the old archaic system to the new decentralized system, they only serve as an example as to why centralized operations are sub-optimal.

>who watches the watchmen?
there are no watchmen

>see Mt Gox. for more information on how easy this shit is to scam
Mt. Gox hack didn't compromise the bitcoin network. The hacker broke into a CENTRALIZED server and stole the assets that retards were stupid enough to store on it. Another example of systemic failure in a centralized system.

>shadowy cabal that runs this thing
It's quite obvious that you have no idea how the bitcoin protocol works.

What can you buy with BC?

>>136606149
>t. Shlomo Shekelberg

The jews fear the bitcoin.

>>136611511
so, you know the names and provenances of the persons validating your transactions?

you can be certain that the series of data bits you receive for real currency are valid strings of data bits and not counterfeit?

you are secure in the surety that the chinese wont seize control of the math farms that run the system and turn it into financial chink escalator fiasco on a grand scale?

you place a lot of trust in a system that appears to have no safeguards beyond handwaving and "but theres math involved"

this kind of blind trust is how we got a fractional reserve banking system, a private cartel running a central banking system, and a fiat currency.

fool me once, shame on you.
fool me twice, i was asking for it.

>>136612409
> doesnt trust a shadowy cabal of faceless computer nerds and chink math slaves to run a currency with no recourse when it fails
> must be a jew
your deductive reasoning is without equal.
for surely i am jewish, as jewish as any man with scotch irish immigrant grandparents and a belly full of grilled pork has ever been

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>>136594560
>>136594635
No, it won't.

Crypto-currency is bad for Americans, good for everybody else. At least, under the assumption that there isn't some critical flaw to crypto-currency itself, in which case it would be bad for everybody.

As an American I say we just need to bite the bullet and just get it over with, depart from the petrodollar so we can depart from the US dollar and in such a way that nukes the Fed. We've already invested into an absolutely massive military, and when the US Government goes broke over crypto-currency, we'll still keep our Navy going at least.

But that's the thing- it's just my pipe dream. We don't have to, we have the means to continue enforcing the petrodollar. We have the military, and enough oil production is on our side to mandate buying Oil in US Dollar. The USA doesn't play the game where they would intentionally hurt themselves.

Bitcoin will not replace the petrodollar. Bitcoin is small time because the vast majority of the world understands this. Bitcoin is a little bit tech misunderstanding(cryptocurrency is a hazy place), a tiny bit of unwarranted fear over other currencies, and a massive ton of speculation in a new investment commodity.

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>>136614715
>so, you know the names and provenances of the persons validating your transactions?
people don't validate transactions. Your concerns about trusting the people who own the hardware that do the mining show your ignorance of the purpose of the protocol.

>you can be certain that the series of data bits you receive for real currency are valid strings of data bits and not counterfeit?
Do you understand WHY it's impossible for a single miner to do something malicious on the network?

>you are secure in the surety that the chinese wont seize control of the math farms that run the system and turn it into financial chink escalator fiasco on a grand scale?
Sure, that was a legitimate concern in the past. As time goes on and economy of scale kicks in, this possibility rapidly declines. Once again, the point of this thread is that new mining operations in Russia and the US are rapidly ending the hashpower concentration in China. Pic related on decentralization over time. Keep in mind that each of these pools are not individuals, but collections of many miners. Even if a government entity took over a pool, the miners could just leave the pool and go to another, even one overseas.

Blind trust is how we got the federal reserve, and transparent open source protocols is how we end centralized control of monetary policy, finance, contract enforcement and ultimately central governments entirely.

You are arguing against a concept of which you have little to no familiarity. Why?

What happens in war when multiple country's networks are segmented off from the rest and or a wild pack of uighurs starts blowing up bitcoin mining ops in china?

>>136617588
You starve because the systems in place that maintain the logistics required to feed the entire nation are now offline.

Once we get away from a centralized energy grid and network infrastructure, this no longer becomes a concern.

>>136617866
I didn't say everything was offline, just that there is no network between US and China due to war.

China could also block all bitcoin ops on their network tomorrow if they wanted to.

Basically bitcoin people are China's bitches. I guess maybe it is a little better than being Yellen's peg boy, but at least with dollars you can do stuff.

>>136616713
> people dont validate transactions...
people who have computers with OPEN SOURCE CODE validate transactions.
most of those people are in china.
if north korea had reliable electricity, they would soon dominate the entire network, and then theres the fact that code can be tinkered with.
securing a single institution's data is a job so complex even the US govt cant get a handle on it
but all these privately held devices will surely be secure, nobody is ever gonna try to jack the system and make a few hundred fake data bits worth hundreds of thousands of dollars in untraceable transactions through a poorly regulated network of international computer systems...

> a single guy cant defraud the system... it's too big to fail!
thats how ponzi schemes work.

> economies of scale will keep the yellow menace in check.
yeah cuz china cant handle economies of scale.
are you really this dumb or are you merely pretending to be retarded?

> a shitty electronic currency will totally eliminate all govts because muh special snowflake anarcho-___________ist fantasy is like totally a real philosophy...

i am arguing that you can do what you like, but i wont be buying any shitty electronic ephemera nor will i be investing in your vaporware currency.

if you want to buy anything from me, you better have real currency, specie or goods to trade.

>>136618839
>if north korea had reliable electricity, they would soon dominate the entire network
Sure, it's possible, but that wouldn't even matter because of the consen-
>and then theres the fact that code can be tinkered with
Such an idiotic statement it's not even worth addressing.

>>136618436
China has more hashpower than most other countries right now, but it's control is overstated. Obviously it's not desirable to concentrate hashpower in a single country, which is why the decentralization of mining in other countries that is starting NOW is a sign of things to come.

Also, criticizing Bitcoin's current utility as a currency isn't quite thought out. Internet infrastructure couldn't handle 4k video streaming in 1992, but here we are.

In a few years teenagers in Indiana will be swapping over-the-blockchain derivatives with grandmas in India without asking New York City.

>>136619550
He literally has no idea how the bitcoin protocol works and will not answer any question about it. It's like watching a caveman try to explain why electricity is bad.

>>136619550
Not really an idiotic statement. The code can be changed by whomever controls a majority of the successful mining ops, as it just was with bitcoin cash.

Most of the mining by far happens in china

Chinese people currently control the future of bitcoin

There are various ways Chinese miners could fuck the US if we were to go to war right now.

>>136596872

Fuck, I was there when it was 200, I'm a fucking retarded mongoloid

>>136621299
>as it just was with bitcoin cash.
Right, so all they managed to do was isolate themselves from the actual bitcoin network and fork off into an entirely new network with hardly any support. Where is the issue here? At the end of the day, what they did was entirely voluntary. They didn't compromise the original network in any way.

Also, the developers who created and deployed the bitcoin cash fork were white.

Sure, if people actually preferred bitcoin cash, then the legacy network would drop in price. But once again, that is entirely free market driven. I'm failing to see the foul play here.

>>136621299
Also, your point about the code being change by miners isn't really true. I can change the code right now and fork off the network, it just won't be bitcoin anymore, and not a single node in the bitcoin network will consider my ledger valid.

>>136602562
>can i pay my bills with it?
Yes
>can i buy a beer with it?
Yes
>can i tip a stripper with it?
Sometimes, depends on the place
>can i buy groceries with it?
Yes!
>can i save it?
Same as anything
>can i flash it around at a nightclub to attract bitches?
Sure why not, "hey baby check out muh wallet"
>can i use it to pay my mortgage?
Yes.
>can i use it to invest in an enterprise?
Absolutely

You can also literally cash out in seconds for cash in person or wait 2 days by mail. You are an idiot.

>>136621299
They are the hacking units of Red Alert 3. Yes the shitty EA one not westwood classics but still... Its on point. Bitcoin is space cash. Space cash is doomed to failure in the apocalypse. Super valued now but entirely fiat in origin.

> Inb4 muh numbers and blockchains...

Its still fiat since the underlying commodity aka Dollar Euro Yen Yaun... Is fiat. Until bitcoin is pegged to agricultural output and tangible services besides just currency inflation and energy utility prices that dictate mining profits it is nothing but baseless space cash....

>>136614715
>so, you know the names and provenances of the persons validating your transactions?

>you can be certain that the series of data bits you receive for real currency are valid strings of data bits and not counterfeit?
You know absolutely jackshit about cryptography. Totally understandable since 99% of people don't either.
If you actually want to know the answers to your questions I would sincerely recommend you look up ECDSA and hashing at the very least.
If you're still skeptical then you should just go back to using ((FedReserveCoin)) that you can definitely always trust.

>>136620639
> he doesnt know how it works...
NOBODY really does.
you dont know, neither does anarcho-numbnuts who thinks it will make nation states obsolete

Protip: if you cant explain something in such a way that anyone can understand it, you dont sufficiently understand it yourself.

> he wont answer any questions about it...
what questions have i failed to answer?
if you wish to argue with me, argue WITH ME, not by making snide side comments to anarcho-numbnuts, who hasnt answered the questions relating to the very thing he is touting.

i have not been asked any questions beyond "why dont you trust bitcoin" and i answered that immediately

it is a new middleman, not the elimination of middlemen.
the current system is overburdened with money-fingerers and usurers who make their living skimming off the top when productive people buy and sell the things they make.

bitcoin "miners" do not produce any tangible goods or services. they are nameless faceless jerkoffs who operate devices that do math and magically create "money" that nobody can see touch or really understand.

touts like anarcho-numbnuts and shitstabbers like you try to insinuate that anyone who cant see the awesomeness of bitcoin must be a fool

as a side benefit to The Emperor's New Currency, nobody in the real world of day to day transactions takes your invisible money.
if the only thing one buys is japanese animu body pillows, german dungeon porn and astroglide, then bitcoin might be the currency for you, but for everyone else, its a non-starter.

you cant tell me why bitcoin is better than specie, US fiat currency, or barter, but you want me to jump on board, but you dont even address me, you mutter to the other touts ABOUT me like a faggot.

your opinions are worthless.
eat a dick.

>>136622632
>> he doesnt know how it works...
>NOBODY really does.
hurr I don't understand it so nobody does

>>136622144
You are not a majority of miners and neither were the bitcoin cash people. If Chinese were to get involved in nationalizing bitcoin ops, they could change bitcoin itself.

Just face it, a majority share of bitcoin is within a single politically defined region, and one that is not necessarily friendly to the US.

Bitcoin is not currently decentralized.

The first time something with even a tangential relationship to bitcoin threatens state power in China, it could get shut down so hard and so quick you won't believe it.

>>136622401
none of my utilities accept bitcoin as payment
none of my local bars accept it either
no stripper is doing table dances for imaginary money. they have mouths to feed.
no grocery store i have ever seen accepts it either
what bank will take deposits in bitcoin?
what bank takes bitcoins as payment on the mortgage?
what investment broker will accept bitcoin.

if i have too wait to "cash it out" it was never a currency at all.
you dont even know what makes a currency a currency, yet you call me an idiot?
fucking leafs.

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>>136623061
if you know how it works, feel free to enlighten us all with your glorious wisdom, oh mighty guru...

pic related.

>>136622418
While speculation causes big rallies and crashes, it is still pegged to the resources required to maintain the network. The hardware used to mine it + the operational costs of said hardware. If the price of bitcoin falls below that, mining operations are no longer solvent.

>>136622632
Bitcoin "miners" produce the service of an unfalsifiable global ledger of value.

I'm not criticizing you for not understanding bitcoin. I'm criticizing you for attempting to debunk the utility of something you have proven to not understand at all.

There are lot's of valid concerns for bitcoin that I would be happy to debate, such as quantum decryption, 2nd layer centralization, scalability proposals, etc. But you lack a fundamental understanding that prevents us from even beginning to discuss these topics.

>>136623188
Sucks to be an American i guess.

>>136623097
You cannot take a majority of hashpower from nationalizing bitcoin ops. You can nationalize bitcoin POOLS, but that is counter productive because the miners within those pools will leave. There are a few major warehouse operations that the chinese government could seize, but this would afford them a few percent maybe. Tackling each individual miner would be like tracking down torrent users. Not impossible I guess, but highly unlikely.

The upside to all of this is that hashpower IS growing outside of china, so the fear of a Chinese takeover dwindles every day.

>>136623511
Do you know what hashing is? Or digital signatures? If so that's enough to understand the original white paper (only a few dozen pages) https://bitcoin.org/bitcoin.pdf
For a more in-depth explanation read "Mastering Bitcoin" by Andreas Antonopolous. You can find a free Epub on TPB or probably 5 mins of googling. It's the best overall explanation I've seen and it should be accessable to mostly anybody.

>>136623814
> unfalsifiable
and yet the very idea of "unfalsifiable" currency is bullshit.
since the beginning of currency there have been counterfeiters
even fake gold is still a thing. buy gold on ebay or alibaba and youre buying gold washed lead
if you can build a computer system that cant be hacked, especially one that has numerous anonymous users and OPEN SOURCE CODE, why are you arguing on a bolivian turtle breeding board instead of fucking supermodels on your yacht in the bahamas?

> utility
you keep using that word...

> U R not smurt enuf 2 hve N opiniun DDDx
i said clearly:
i will not accept it for my goods and services, and neither will most of the human race.
this remains factual.
perhaps sometime in the distant future your computer generated money will find acceptance, but i dont see it happening.
the communist world utopia will happen first, rendering currency obsolete.

>>136624623
heres a prospectus for you.
http://nakedshorts.typepad.com/files/madoff_fairfieldsentry3x.pdf

bernie maddof did very well with this one.
ponzi schemes always look great, and they often pay out well for the early "investor", but when the music stops somebody is always left standing, and that guy gets fucked in the ass.

i prefer i not be fucked in the ass. i work too hard for my money to throw it down a rat-hole that is so byzantine that even experts cant explain it.

>>136624216
The gfw has deep packet inspection.

>>136625556
>and yet the very idea of "unfalsifiable" currency is bullshit.
since the beginning of currency there have been counterfeiters
There has never been and will never be a counterfeit Bitcoin
The only way you get counterfeit gold is when you're too fucking dumb to properly check that it's real--by checking the density and checking whether it reacts to nitric acid, etc. you can be 100% certain it's real.
It's the same with Bitcoin.

Bitcoin is centralized.

>>136594560
It's too late, bitcoin is already the gold standard and will always be. Gold never got replaced by silver or bronze or anything and never will.

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>>136625703
>vaporware shitcoin that gives money to refugees

>>136626278
what test can i perform to ensure that a bitcoin is real and not a clever fake?
the answer is NONE.. the entire enterprise is based on blind trust

i dont trust easily.

further, i dont want an imaginary non-item that i have to buy with real money then re--sell to get real money back before i can put a quarter in a jukebox.

>>136626042
Madoff knows jackshit about computer science. There's no way he can properly evaluate it even if he is an expert in other things.
I won't claim that Bitcoin is 100% trustworthy or flawless. What I will claim is that it is more trustworthy than the US dollar that the majority of your wealth is likely tied up in.
If you have a bank account you're already getting fucked in the ass. Inflation due to Central banking is the heaviest tax you bear and you don't even realize it since nothing is taken from you. Every year without fail a percentage of your wealth is shaved off by the Fed. If we're going to throw around the term 'ponzi scheme', hopefully you realize that the Fed is the real Ponzi scheme.

>>136600922
>bitcoin is the only token with value
>calling other people brainlets
wew lad. you've been in bitcoin since 2012 and you're unironically that stupid? kys

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>>136594560
Bitcoin is one giant ponzi scheme. Next to no retailer acceptance, and is barely known outside currency speculator circles. Prove me wrong... oh wait, you can't.

>>136602562
can confirm previous anon. you are an idiot.

search "shift card" or any of the other debit cards you can tie to a crypto wallet. do some fucking homework and quit brainwashing others with your idiocy and/or kys

>>136627210
madoff didnt need too know shit about computers, he knew how to manipulate finance "experts" and dodge regulators

likewise, theres a wide array of nerds who are quite good at fucking with code, spoofing network authentications and stealing data.
every bitcoin is nothing but a data file.
somebody will find a way to steal it, unless, as i suspect, the whole idea is just a scam from the start

i am well aware that the fed is a ponzi scheme, inflation is theft, and no, my wealth is not tied up in currencies.

i keep my profits in tangible assets.
keyword: TANGIBLE, not vaporware.

>>136626885
>what test can i perform to ensure that a bitcoin is real and not a clever fake?
>the answer is NONE.. the entire enterprise is based on blind trust
Retrieve the UTXO containing your transaction from a copy of the blockchain that has been validated by a sha2 hash and then verify it against your ECDSA private key. You can then be guaranteed that you have real Bitcoin.
If you don't even understand what that means or don't know why that would be impossible to fake then you don't know enough to be having a discussion about bitcoin. In that case I would suggest you stay away from it in general because you are one of the idiots who will inevitably get scammed or accidentally lose your coins.

>>136602562
Hey the snuggie is going to come back with a vengeance you silly motherfucker. You'll see.

>>136596872
buy now. bitcoin will be $30000 in 3 years.

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>>136627671
> fight the corporate hegemony!
> buy a "debit card" from a nameless faceless corporation youve never heard of, and pay them to skim off the top with every transaction you make...
> that'll teach em.

>>136628583
>bitcoin will be $30000 in 3 years
*$0

>"investing" in a PoW piece of garbage that makes every transaction publicly known

when the true one coin comes, something that doesn't require an army of video cards parked out by dams to process transactions, something that uses zero knowledge proofs to protect my transaction history, I will follow. something that is actually a currency, and not a speculative interest.

Trumpcoin

>>136628118
> i wanna buy this bunch of bananas.
> hold on, imma establish a secure network connection and run a series of tests on your electronic currency, then read 10 pages of machine code and check the authenticity of your hash stack.
> sounds like a workable currency to me...

> impossible to fake
and:
the titanic is unsinkable...
the prussians would never go to war over ferdinand's death...
new york will be under water by 2015...
a tiger is a great pet, especially around children...
i dont need to lock up my bike, im just gonna be in there a minute and those black guys look trustworthy...
i turned over all relevant emails from my private server...
Trump will never win the republican nomination...
Trump will never win the presidency...
Mexico will not pay for the wall...

>>136629755
the current way for retailers to assess the authenticity of the dollar, from what I can tell from my interactions, is to hold it up to the light or rub it with a marker.

you really need to stop attacking bitcoin with this "forgery" vector; that's pretty much the only thing bitcoin does well as that's the chief thing its designed against.

>>136629202

People who make predictions like this should not invest or trade financial instruments, because they clearly do not know what they are talking about. Neither do they have any clue of what they are actually doing.

Before you can have consistent success in any endeavour, you must first understand the business you are in.

Crypto is a bull market right now, so fucking play the bull market right now and just buy the fucking dip. Pretty fucking easy. When it goes down you sell the fucking shit. If you want to keep your cryptocoins long term, you fucking diversify your portfolio with other shit.

It's not that hard.

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>>136600922
do not listen to this jew. buy Bitcoin Cash (BCC/BCH), not Bitcoin (BTC).

>>136622418
cryptos are pegged to energy. miners use energy in the form of electricity to mine coin - which keeps the crypto alive and viable. without miners teh chain dies. without electricity the chain dies. without a profit, the miners shut down and the chain dies.

unlike the petrodollar, cryptos are pegged to ALL energy sources that produce electricity and will constantly seek cheaper sources while demanding more and more.

Don't know if somebody already mentioned this, but TOR got outlawed here resently. Crypto-currencies too.

>>136631853
I think it's OK to make conditional predictions like, "if Bitcoin is able to capture 10% of the gold market, it's price should be over $50k/btc"

When or if that happens is anyones guess

>>136632158
I can't believe guys like you are giving me free BTC
Thank you very much

>>136633701
you better get out before teh bubble bursts when bcc becomes consistantly more profitable to mine

>>136634223
This won't happen, if btc 'bursts', bcc will come down too, and in a worse position.
More profitable to mine? More to miners? I think BTC is better.
Thanks for the free BTC again

>>136631255
i already explained why i dont want a fake imaginary currency that i have to buy with real money, but cant be used without finding a sucker to buy it for real cash before i can buy a gallon of gas

YOU are the one who keeps harping on how perfect it is and how nobody can EVER fake it or manipulate it.

if you had a solution to explain why a "currency" that cant be used for goods or services outside backpage hookers and interweb porn emporiums, you would have expounded on it.

"cryptocurrencies' are only useful for illegal transactions due to their complete avoidance of all regulation and record keeping, which makes them vulnerable to various types of criminal enterprises.

why not just buy conflict diamonds?
they are easier to sell, easier to transport and hold real value.
plus they are soaked in nigger blood, so thats awesome too.

>>136636746
how do you go an ENTIRE THREAD spewing this much bullshit?

You are literally embarrasing yourself m8.

>>136636746
As the value increases, so do the services that accept it. The "real" currency you call dollar is as real as bitcoins, since you can back up them on paper.
HOARD

>>136637231
what bullshit have i spewed mr memeflag?
do be specific.
where can i use bitcoins without trading them for real money first outside backpage hookers, internet adult toy shops and subscriptions to german dungeon porn magazines?

seriously, imagine i have a bitcoin and want to buy a pack of cigarettes, how do i do this simple transaction?

>>136637632
> implying the US dollar isnt a real currency
i can exchange directly it for goods and services pretty much anywhere in the world. that sounds like a real currency to me.

when im paying for a BJ at the cantina, the whore accepts greenbacks but doesnt take bitcoins.
are you saying your mom is wrong?

also, paper bitcoins...
somebody tricked you.

>>136638502
>somebody tricked you.
Your ignorance, maybe? GL with fiat, you deserve it.

>>136639160
that doesnt even make sense favela monkey.

if you bought paper bitcoins you got rooked, and it's your own fucking fault

bitcoin doesnt come in a physical form, only data files

the "paper wallet" bullshit doesnt remove the electronic risks from bitcoin, like hard drive crashes, malware or keyloggers, power failures, internet outages, hackers, EMPs, theft of your phone/computer on which your access keys are stored, etc etc etc.
they are very much the post-it note with your passwords stuck to the underside of your keyboard.
and bitcoins still dont qualify as a currency. they are a speculative commodity.
if nobody wants them, they are worth LESS than a failed fiat currency, since, after the crash, you can still wipe your ass with a worthless banknote

>>136602102
I actually clapped. Well done anon. I'm happy for you.