bet you poor fags wish you would have bought

>>137507965
My local store doesnt accept bitcoins fat ass

>>137507965
It's pushing 4400 now Jesus.

>>137507965
buttcoin will fall hard

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The biggest the bubble, the biggest the burst

>>137507965
Hell fucking yeah.

3.2 btc hodler here. I'm not selling anytime soon.

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>tfw almost bought bitcoins when they were dirt cheap

>>137508123
Use a fucking exchange to get some fiat when you need to. Or keep letting centralized banks erode your savings through inflation.

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>>137509781
tfw your not in the 21 million club

>>137507965
>buying money that isn't backed by anything real

I seriously hope you guys don't do this.

>>137510380
>implying all fiat isn't like that

>>137508569
It will almost certainly have a sizable correction but the floor will still be higher than it was in April of this year.

>>137509972
tfw I know that feel

>>137510341
soon. and pretty good for a college kid.

>>137510380
What's the CAD backed by?

>>137510683
>What's the CAD backed by?

syrup

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>>137509972
>>137510630
>tfw I had 20 of them when it was new and worthless
>lost wallet and everything in format
>didn't even think twice about saving it
I am upset.

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>>137508569
You niggers have been saying this the past 5 years

>>137510380

>implying any 1st world country has a currency backed by anything

I hate to break it to you, but it ain't the early 1900's anymore

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This bitch ain't stopping till it hit's 1 million

>>137511061
Bit coins have no inherent worth. They're meaningless. You can't even buy nearly anything with them, you can really only sell them, meaning that they will eventually collapse under their own worth, just like beanie babies.

>>137511736
I fully understand this. I am still upset that I could have sold them for $80,000.

>>137511736
>Bit coins have no inherent worth.

Does fiat money have an "inherent worth"?

Do you even have a good definition for the term "inherent worth" anyway? According to economic theory (if you're not a Marxist), the value of everything is subjective (Google 'Subjective Value Theory' and the 'Marginal Revolution' if you're not familiar with the topic), so I'm not sure anything has "inherent worth".

>>137511736
>btc has no inherent worth

yet your 401k is based on stocks

>>137511736
At least beanie babies where a physical item.

>>137512332
>Does fiat money have an "inherent worth"?

Yes, you can buy oil, food, water, electricity or uranium with "fiat money"

You can't do that with bitcoin, because it's a shitty Ponzi scheme that's going to collapse under its own weight literally any second now.

>>137512629
>going to collapse under its own weight literally any second now.
People have said that for years m9, I don't see it going anywhere.

>>137512934
k

>>137512629
You know what, you should educate yourself on the matter.
Sure, right now US and other (((first world))) countries don't need bitcoin that much. You have banks, you have visas, you have checks, etc. You have pretty okay governments, stable inflation, etc. 3rd world countries already started using bitcoin because governments can't devalue it just by turning a fucking printing machine. It's that simple. People in unstable economies just want to stop loosing money because of unreliable governments.

>>137512629

>Yes, you can buy oil, food, water, electricity or uranium with "fiat money"

That's not a coherent definition of "inherent worth". Being (almost) universally accepted is advantageous for a currency, but it doesn't somehow become worthless just because it's not accepted as widely as a competing
currency. Does the Euro no longer have value just because USD is more widely accepted?

>it's a shitty Ponzi scheme

Do you have any clue what a Ponzi Scheme is? Bitcoin doesn't meet any of the criteria of a Ponzi Scheme. You seem to have a big problem with definitions.

>>137507965
the big boys have been going a bit in on bitcoin, raising its price, and now shilling it more, so its price will further raise?

I remember reading about Bitcoin in early 2013 and having a little more than 6k I was willing to throw into it. I remember looking at the screen and reading articles about it and thinking, "Yeah. No. That's not going to take off." I'd be a literal and actual millionaire right now.

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>>137511736
Its worth is the technology behind bitcoin. A decentralized network that supports an unalterable ledger of transactions. These transactions are made with virtual coins and the ledger will only ever acknowledge the existence of 21 million of these virtual coins. If you help maintain the ledger of transactions then you are rewarded with a small amount of bitcoin for essentially recording a transaction. This is how Bitcoin is distributed and created. Maintaining the ledger AKA "mining" Is regulated with mathematical formula that needs to be solved by the computer in order to add a transaction to the ledger, solving this takes large amounts of processing power this helps to keep the network decentralized and also distribute bitcoin proportionally since more mining power means a larger investment in hardware and electricity. The value of bitcoin is the genius programming behind it and the implications it could have on society if more widely adopted due to its decentralization from government or authority, the way the currency is initially distributed and its deflationary value because of the unalterable supply.

>>137513735
People will give you food in exchange for your Euros. European food producers won't give you food in exchange for your American Dollars because Euros allow them a certain independence from America, and they like that. Therefore, Euros will always have value.

The people who produce the food are the ones who get to determine which currency has value and which hasn't. Food producers will never sell you food in exchange for Bitcoins because that would surrender their autonomy to an unknown, abstract entity.

Unless you can buy food with Bitcoins (will never happen), your little numbers on your screen are utterly worthless.

>>137515149
>surrender their autonomy to an unknown, abstract entity
You spout bullshit, educate yourself on what this technology really achieves, why it was created and how it works. It's not rocket science, but it's almost near this level of complexity.
>will never happen
It already happened. https://www.reddit.com/r/Bitcoin/comments/6628a4/countries_where_its_possible_to_buy_food_for/

>>137514856
>acknowledge the existence of 21 million of these virtual coins

Didnt something just recently happen, some fork, where something was changed to make more coins?

>>137515149
there are plenty of franchises that except bitcoin, some major websites, I guarantee there is a farmer somewhere who would accept bitcoin as payment for 4000 pounds of turnips, Bitcoin has proved itself functional its just a question of how far the adoption of this new technology will go.

>>137515149
If you want to buy food with bitcoins, you just sell 20 dollars worth of bitcoin, and use that money to buy food.

What you are saying is like, there is not need to invest in the commodity copper on the stock market, or apple stock, because a restaurant will not give you food for copper or apple stock

>>137516565
Show me evidence of a guy buying food from a farmer with Bitcoins and I'll concede that I'm retarded and have no idea what I'm talking about.

>>137516443
To explain in simple terms a small minority of people who help maintain bitcoins ledger which is called the blockchain decided they want to make the pieces of paper the ledger is recorded on larger to process the increasing amount of transactions that need to be recorded or processed. The other majority group wanted to write smaller on the ledger instead of making the page bigger. This resulted in what is called a chainsplit and the creation of a new ledger with a group of people that maintain it in a different way. Both ledgers share the same history of transactions but go on to be maintained with different methods and different transactions. If you were on the ledger before the split than you are still remembered by the new and different ledger.

Chainsplits are a crucial part of blockchain technology which allows important changes to be made to the way bitcoin functions and the people who maintain the blockchain usually pick the better version to use their processing power on. Thats why Bitcoin is at 4400, and bitcoin cash, the name for the new blockchain is at 300 even though the amount of coins on both ledgers is the same. Eventually if the new ledger keeping system is unsuccessful people will stop using that ledger and go back to the different version and help maintain that one.

>>137507965

I buy it all the time, I just spend it on drugs. And now it's increasing so much sometimes I just have spare BTC sitting around and then it grows in value enough to buy more weed.

But yeah I really wish I would have bought some coins back in the day when they were cheap and just put them in a wallet and forget about them.

>>137510380

It's actually more "backed" than the paper currency you use since it's on a physical computer and represents physical processing power.

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>>137507965

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>>137519186
>it's on a physical computer and represents physical processing power
So is my rare pepe folder, but I'm not about to take out a second mortgage on my home to invest in pepes

>>137510547
>implying fiat makes any fiscal sense

>>137517156
"Moscow-based LavkaLavka has enabled Bitcoin payments at all of their stores, cafes and produce markets."

http://bitcoinist.com/russian-farm-produce-accept-bitcoin/

>>137511736
I bought some headphones with them on overstock back in the day

Oh well

>>137519687

>>137514856

>>137508916
t. nocoiner beaner

>>137507965
Someone give me the run down on how it won't be devalued when the world bank goes to war with it?

>muh decentralization
Yeah cool. But what happens when you can no longer use an exchange to gain fiat currency and bitcoin is not accepted by any legal business?

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>>137510547

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Reminder that digicoin is the NWOs wet dream globalist fiat currency. Any poorfags out there who have ever had a lien on their bank accounts know that digital currency is another step towards total control.

>>137515149
>Unless you can buy food with Bitcoins (will never happen)

but you can faggot. I can order food with btc and restaurants in my cities accept bitcoin as a payment

>buying pixels
lmao

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>>137520200
The pumpers are planning to cash out before that happens. Don't fall for scamcoins kids.

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>>137511570
Being this naive.

>>137507965
I thought I bought at the wrong time but here I am already 30% richer.

>>137520054
I won $600 on Trump if it makes you feel any better

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>>137507965
>mfw I had 0.06 bitcoin 2 years ago after some deep transactions but didn't care to put it back in my wallet since it was only like a few bucks.

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>>137519978
Its worth is the technology behind rare pepes. A decentralized network of MSPaint users that supports the ever expanding market of pepes.

Nah, I'd gamble it anyway

>>137507965
Bubble

>>137520918
theres a cryptocoin for that market, its called pepecash.

https://coinmarketcap.com/assets/pepe-cash/

what goes up must come down

don't get too greedy coinfags

>>137521057
In a decade you will be scrubbing my toilet for a couple thousand satoshi's

>>137518765
interesting. there is no way any of the data or mechanisms were compromised in this event? And how can the one be 300? So say you have 1 bitcoin in your wallet. It shows up on one leger as 4400, and on the other 300? Because the value is not 'the bitcoin you own', but the value is 'the bitcoin data on the particular ledger'?

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>>137520918
preach it.

here, have some change. go buy some virtual coins with it.

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>>137521189
And it's just as worthless as actual pepes

>>137518765
also what will happen to the value of 1 bitcoin when all 21 mil are mined?
Then less and less they will be sold and traded 1 bitcoin at a time, but smaller fractions?

Imagine if everyone in america used bitcoin, 300,000,000. Or lets imagine everyone in the world used bitcoin. How would that effect its value, theoretically? lets say if 5 billion people only bought and sold and traded using bitcoin? Can you rough estimate how much each bitcoin would be worth then? Or it would be extra hard because that scenario presupposes no more paper fiat government currency anymore, so you cant put the value on it in terms of any dollars?

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>>137520725

Until your local power station crashes and you realize that internet moniez aren't real and you are fucked. With our current fun bucks system you might be able to fool people for a couple weeks before they get wise. Gold and silver. We all know it, everyone has known it since before recorded time. Second tier is food, clothes, medicine, ammunition. You will never hold a bitcoin in your hand, it is inexorably linked to a a fragile system. The solar flare of 1859 could wipe out your "wealth" in a flash.

https://en.wikipedia.org/wiki/Solar_storm_of_1859

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>>137507965
>tfw I remember scoffing at a thread on /b/ years ago talking about how bitcoins could be bought for $1 saying they're worthless
>tfw I am now a wage/rent slave
kill me

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>YFW the dude who created your fake crypto money holds more coins than everyone else combined and is prob slowly cashing it to invest in gold

>>137508916
Waiting for the pop, then buying after. I predict good things from this.

>>137521475
the ledger simply records the amount of coins that are moved, the price that is paid for those coins is determined by a free unregulated market and how much someone is willing to pay for a virtual number to go up next to their assigned serial number on the ledger.

There are risks but these only come when a single person or entity controls 51 % of the processing power being used to maintain the blockchain. I would have to do some research to get exact estimates but the infrastructure doing this would require would be enourmous we are talking thousands of warehouses full of mining rigs.

>>137522307
Crypto is like any other "sure thing", for every person experienced and cunning enough to make a killing on it, there's 100 that aren't and will wind up making a net loss.

>>137522111
and you could have your money stored in a bank that is just not big enough to not fail, or your home could get taken out by a tornado.

The entirety of the internet all across the world would have to be wiped out, and when its turned back on, the record of what it was at when wiped would have to be lost.

>>137521704
but its not get yourself 10,000 pepe cash and you can sell it for $100 worth of bitcoin.

>>137519298
I&S money in this case is fiat

>>137522073
first off a bitcoin can be divided one hundred million times, This smallest unit of measurement is currently worth about 1/400th of a cent.

So if bitcoin replaced the US dollar overnight I would assume that all bitcoin combined would be worth the GDP of the united states which is a little over 18 trillion dollars. Bitcoins current market cap is 70 billion dollars this is the worth of all bitcoins at this value one bitcoin is worth about 4000 dollars. Increase the worth of all bitcoin to 18 trillion and that makes a single bitcoin worth $857,142 divide that buy 100 million to get the smallest unit of a bitcoin and that is $0.008 not even one cent so it is still usable on a large scale.

>>137522111
Ask yourself, how much cash do you have on hand? In case of energy collapse, all your banks will stop working and crads and cash will be useless anyway.

>>137522319
This post LITERALLY shows you know nothing about cryptos. You can check Satoshi's spending, it's on fucking blockchain. He/She/Them spent ZERO.

>>137525411
sure thing. no one have more than one wallet r-right? and the savant-dude sure wouldn't think of such thing!

>>137525711
your trying to argue something you know nothing about and refuse to learn, when you wait my table in a decade I'll give you a 20000 satoshi tip so you can afford rent that month.

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>>137526136
yet you're still replying