BitCoin NOOOOOOOOO

>>509137393 (OP)
Literally just described fiat currency.
Bitcoin is as valid of a currency as any other.
The problem is they're all shit.

>>509137393 (OP)
Yes, but that’s all things with their price built on confidence. This is even how the housing market works. Except with bitcoin, even using it as a store of wealth instead of property is more moral, because then people will be able to afford shelter.
Fucking hell Redditors are retarded.

>>509137767
Wrong, fiat currency is backed by the military.

>>509137767
Last time i checked, the dollar doesnt have a $10 transaction fee. And i didnt have to wait 2 hours for my customers’ transactions to go through. Maybe it’s different now, though. Idk.

>>509137767
>Bitcoin is as valid of a currency as any other.

IT'S NOT A FUCKING CURRENCY YOU NERD!!!!!!!!!!!!!!!!!!!!!!!!!

JFC I've been shouting about this for years. It's not a currency. You can transact with a currency, right? You know, buy and sell things? Who is buying and selling ANYTHING in bitcoin?

Oh some pizza shop in Eastern Europe accepts bitcoin as payment? Cool. How about your grocery bill? How about your car payment? Can you get paid in bitcoin? Can you pay your property taxes in bitcoin? Hell no, because normies don't want to play with your fake and gay internet money.

You're all just a bunch of computer nerds playing make believe Gordon Gecko looking at charts and graphs that mean nothing.

>>509137393 (OP)

>>509137835

Then how was ruble a top performing currency in 2024

>>509138214
Because you have oil and aren't losing a war?

>>509137767
Fiat currency is by definition legal tender enforced by a government. A government requires it be accepted for all debts public and private, and that it be used to pay taxes. Only El Salvador has this relationship with BTC; I always expected that when sovereigns decide to adopt crypto it will be in some form other then BTC.

>>509138095
They could try to argue it's like stock but stock can be used as collateral towards a loan, home, etc.

>>509137393 (OP)
>r/buttcoin cope

lol

>>509138274

Is this sarcasm?

>>509138095
You can use it as to back home loans now. Bitcoin is more legitimate than fiat currencies as there is a finite amount.

>>509138313
And bitcoin is decentralized tender enforced by the blockchain.
Eventually it will all be broken and the value will become zero.

The only value it has is in its enforcement.

>>509138351
fr...
imagine how retarded the guy who did buttcoin has thought through the years if he didn't kill himself. Hell... that faggot probably influenced some of my thoughts after the ~$30 crash. I stopped mining because of the cost of electricity at that point made it a loss, and I was broke at the time.

And even later... it crashed to nearly 0 and I came up on a large stack, but given that it had crashed so hard, I didn't think it would go anywhere, and sold for very little money.

>>509138029
Ive never had a 2hr wait except maybe when using a shuffler. The fees are annoying because you think something is X amount, but it's actually X + fees. But when you do the maths on it all, its still cheaper than inflation, and thats not even considering credit card transaction fees. Those are a problem, as many vendors who allow BTC will charge the same for their merchandise, despite the cost of card transactions being included in the purchased item. Generally BTC is better in all metrics for large amounts, but annoying to use for small amounts usually resulting in vendors not using it or ripping BTC buyer off by charging the same amount for an item as a card user.

>>509137767
Fiat currencies in their traditional format, don't require electricity to exist.
Digital fiat which is most currency these days is just less secure crypto.

>>509137767
>Literally just described fiat currency.

Yes. But there is a difference. Fiat currency can be traced back to gold. It's a chain of trust.

Bitcoin doesn't have that trace, unless you trace it back to fiat currency and THEN to gold. That's just same pointlessness with extra steps.

Think of it like a cloakroom ticket. You give your coat, you get a ticket. That's coat backed currency right there.
The ticket itself is a little paper, sometimes literally just a dumb piece of paper with a number scribbled on it. What makes the cloakroom ticket real os the fact you gave someone a real physical coat (gold). This means you can trace the cloakroom ticket back to the coat. The issue is that the cloakroom (Central Bank) has printed extra tickets A SHIT LOAD, and now has more tickets than coats... and that's a huge issue, a breach of trust, but the truth is that you can STILL use the the tickets, but its worth less now.

Bitcoin?........... lol.... That's just like a retard scribbling a number on a ticket.... WITHOUT any coat. And then selling it to another retard, telling the retard it's worth a coat. THERE IS NO COAT. The ticket is worth nothing. But the retards believe it. It is an economic bubble with zero guarantees. It's quite literally a game of chicken, or a poker gamble.

>>509137393 (OP)
>random redddit homo gets filtered... HARD

bitch! what the fuck even is currency? what an idiot

>>509137767
btc is backed by the miners hashing power which secures the network. the cost of the miners electricity to mine and distribute transactions constitutes a lower bound cost of utilizing the network.

Everybody buys bitcoin at the price they deserve. It's an IQ test, simple as.

>>509137767
Bitcoin is backed by fiat currency kek

>>509137800
Yes everything is fake and gay I agree. The only real wealth are precious metals guns and ammo and food. When starvation occurs your Bitcoin is worth about as much as a pixelated object in a vidya game

>>509140556
No it’s value is directly related ti it’s supply and how much is being traded. Stop trying to overcomplicate a fucking piece of data. Bitcoin mining could cost 10x more or less and it’s value would still only be related to how much it’s being traded

>>509137393 (OP)
With tulips, at least you had the bulb in your possession. It's a weird scheme no matter how you look at it..is it a currency or an investment?

>>509138547
>finite amount
That makes it even less valuable as a currency then.

>>509139030
>Yes. But there is a difference. Fiat currency can be traced back to gold. It's a chain of trust.

The US dollar has not been backed by gold since 1971. It's free floating and not "backed by" anything.

And while we're at it, the concept of being "backed by" something doesn't make any sense in the first place. Gold itself is not "backed by" anything. It trades at a premium of 50x its utility as a resource, because it's a tool of wealth storage and speculation just like everything else.

At least if there is one redeeming quality about Bitcoin, it's that it seems to force retards like you to research and realize that everything they thought they understood about money and value their entire lives has been wrong.

>>509141176
You might be retarded. Scarcity is a cornerstone of value. Its why the usd is worthless now.

>>509137393 (OP)
That's literally the same justification for the existence of the dollar. No difference.

>>509137393 (OP)
Like two years ago Jamie Dimon was at Davos talking about bitcoin and he said “Who knows maybe after all the bitcoins are mined satoshi just pops up on the blockchain and tells everyone wow that was a cool experiment thanks for playing and poof all the bitcoins disappear!” For that reason alone I don’t invest in crypto it’s all a scam. I know everyone says it’s totally not possible to hack bitcoin but I would bet on one day someone finally figuring out a way to do it and when word gets out someone hacked it it will plummet to nearly zero in a matter of hours.

Honestly I think the only reason they’ve allowed bitcoin to flourish is to introduce people to the idea of digital currency that can literally track every fucking penny you spend. Peopel act like it’s anonymous when it’s not since your wallet can be blacklisted.

>>509141618
Yeah I love that the people saying 'dont trust, verify' also expect you to take it at face value that the anonymous founder who holds 10% of the float won't dump on them lmao

i love watching poor people talk about monetary options while being slaves to their jew dollars. Stick to fortnite pups, this isnt for you.

>>509141223
Fiat is backed by its government. Gold had many thousands of years of precedent as jewelry and coinage long before the industrial used for it were discovered. Crypto has a peer to peer transfer advantage but you don't know who issues it. That's one very unstable investment you are foaming at the mouth over. Did you buy too high? You guys flip between cheerful stupidity and self-righteous indignation so often you would make a Commie blush with shame.

>>509141753
Exactly it’s sus as fuck that there’s just the wallet of who created it that apparently nobody on earth knows and has 10% and never cashed out anything.

>>509137393 (OP)
This applies to fiat currency as well

>>509137393 (OP)
Bitcoin is a scam. The current market cap for all bitcoins in circulation is 2.14 trillion dollars.

That means 2.14 trillion dollars worth of bitcoin is owned.

If everybody decided to withdraw all their bitcoins today (so all 2.14 trillion worth) the price would collapse so the actual amount available to withdraw and convert to USD would be roughly 200 to 400 billion. Its a fucking scam.

>>509140709
The day that bitcoin becomes worthless, your gold and silver won't be worth much either.
It will be food/water, the ability to procure more food/water, and the means to defend said food/water.

If the electricity and global systems that allow bitcoin to continue existing were to collapse, then so would most of the systems that make modern life possible will be going down with it.

Granted you might find some people to trade your gold and silver with, but those would be people who've already been able to meet all of their own immediate needs.

>>509138547
>it’s finite
This is a complete lie since it is sold at fractions of a bitcoin which can be infinitely divided and split and resold as a smaller fraction. It would only be true if whole bitcoins were bought and sold.

>>509142511
When the house of saud starts selling oil for bitcoin, only then is it money.

>>509138803
Made money on that thing ....shitloads
First time i purchased i did @ 1300$ had quite a bit but lost the hdd fuck it
Got back in @ 3500$ sold @ 17000$
Got out and got back in @ 20000 and sold for 55000$ was it? I forget,that was the last time i touched shitcoin when i figured how big of a scam it was
Shit is not worth it you never know of you end up in the red and can't SELL for instance cuz of muh server problems or 404 erors for the site all of a sudden?
We are experiencing technical errors
FUCK YOU LET ME SELL MY SHIT!!!

>>509137767
Last I checked, there were no armys backing bitcoin

>>509142511
I should add that is best case scenario. In a realistic scenario the actual amount would be around 100-200 billion.

Thats right. Your 2.14 trillion USD in bitcoin is only worth 100-200 billion USD.

>>509142698
You can divide an ounce of gold into dust you still have only a single ounce of gold.

>>509137393 (OP)
It’s value is equal to the degree to which government fiat is used to steal from (primarily non-jewish) people.

>>509137393 (OP)
Okay stay poor?

>>509137393 (OP)
buy bitcoin.

imf hating it is good enough for me.

>>509142847
There's an army of computers backing bitcoin, it's called the blockchain.
They track and verify every transaction to make sure it's legitimate.

>>509138547
Lemme guess they value of the bitcoin is calculated in dollars?

If no more dollar, bitcoin has no value

>>509138547
If fiat currency vanished what would bitcoin be worth?

>>509141858
>Gold had many thousands of years of precedent as jewelry and coinage long before the industrial used for it were discovered.

So your argument is simply historical precedent? So if Bitcoin exists for thousands of years from now then it's suddenly valid as a store of value, right?

>you don't know who issues it
Bitcoin is issued by open-source code. You can go read it yourself if you want.

>>509141858
Who are stupid and don’t give a fuck about you and view you as a slave lol. Bitcoin is backed by the section of the public smart enough to first see that, and second understand the intrinsic value of automated finance. How much money does the global fiat financial scheme cost? How much is wasted feeding wealth into keeping Jews fat and happy? Governments serve those Jewish interests and throw you and your children into wars to maintain the status quo.

>>509143219
What kind of swiss cheese brained midwit normie niggerlogic is this?

>>509142511
It’s always the same retarded arguments that you can literally just apply to every fiat currency. “Well if everyone ran to the bank to take their money out it would all collapse! Banks are a scam! Keep your money under your mattress”. You’re literally retarded and just have the mentality of an ignorant fool destined to be poor.

>>509137393 (OP)
HOES MAD!
JUST GONNA EXPONENTIALLY INCREASE IN VALUE! HAHAHAA
POOR LOSER STILL USING BANK MONOPOLY MONEY HAHAHAHA

>>509137767
kek, this.
in theory, everything is backed up by something. fiat can be backed up by labor, or by military might.
another currency can be backed up by gold or something similar.
bitcoin can be backed up by trust in the system, or a desire to escape the fiat currencies.

but at the end of the day, all of it only has as much value as people are willing to assign to it.
if I say "no", then that's it. the deal won't happen.
the only thing that holds actual, undeniable value are the things you can turn your currency into. because I need food, I need a place to live, I might need medication and so on.

if you're smart, you try to keep as much of your wealth in material assets.

>>509137393 (OP)
>unbacked
This shit is so tiresome. Nothing "backs" money except people's expectations. You think that other people will value this object/coin/paper in the future so you value it today. That's it. That's what "backs" any and all money, including gold. Yes, some forms of money can have other uses, but those limited uses are almost never considered at all when anyone is unconsciously or consciously determining the value of a currency that they may or may not accept in a transaction.

>>509139030
>Fiat currency can be traced back to gold.
Fiat currencies, by definition, are not backed by physical commodities.

>>509138095
>Who is buying and selling ANYTHING in bitcoin?
People who actually did buy and sell illegal shit with it over the dark web 10 years ago are kicking themselves for spending hundreds of bitcoins on a bag of pills.

>>509137393 (OP)
It's money that's literally designed to go up in value forever.
While you're whining that it isn't money people are getting rich.
Get in now or forever be a broke insta-print money holder.

>>509138734
If a blockchain currency will eventually "break" why are governments clamoring to issue CBDC's?

>>509137835
And bitcoin is backed by hash work, so what

>>509143585
Why is bitcoins value based on fiat?

I know “Truth”, the individual being quoted in OPs post. He is not some guru or even particularly intelligent. Hes just a troll on Telegram who gives a few shitty projects tons of shit.

'government good' people will never understand crypto

>>509141618
How could that possibly happen? Is there any hidden code in the bitcoin program? No? Then it can't happen. Just a silly fantasy.

>>509138095
This.
It's a strange juxtaposition when BTC fags praise the blockchain and decentralised nature of the "project", whilst they cum to Big Money saying their gay safety word. Meanwhile, the store-clerk refuses to play along because he knows main-street aren't tech savvy and don't give a shit about crypto; never mind try to understand it. Yet, BTC fags FOMO-post like crazy, rattle off their buzzwords like a talking doll with its string pulled, and look down their nose at everyone who refuses to play. What does the BTC fag dream of? One where they're the new oligarch who gets to empty that store-clerk's shop just for the fun of it because he HODL'd for 10 or so years. Do they comprehend the disruption to life itself should we be forced to transact in BTC? Of course not! Because their one isolated success story El Salvador did it well, albeit in a fiat-world that teeters on the edge of a global conflict. BTC is all well and good until the web goes offline, grid goes down, and devices break and can't be repaired or replaced.

>>509144289
Because the current system is breaking down and the new CBDC system will give them even more power than they already have.
That is until the new system inevitably breaks down and they replace it with something else.
It's like buying a new car--It's not going to last forever but you replace it because it's better than not having one.

>>509137767
The US dollar is backed by the US military and the US legal system.
Bitcoin is backed by unicorn farts.

>>509137835
Also I don’t think people grasp what this means. It means that the rich Jews who have control of the currency will send YOU and YOUR CHILDREN to die in war to protect their control. It’s literally their final mechanism for keeping YOU a fucking slave.

>>509144488
You've got a point there, if you don't use their insta-print money then they throw you in jail.
They're still going to print it until it turns into Zimbabwe money.

>>509144391
Not understanding how bitcoin works, or how layering solves problems, isn't going to make its value decrease. The first stage is accepting that you're actually ignorant, and then doing your own research to improve your understanding as to why bitcoin outperforms fiat and scam coins alike.

>>509144481
Yes, but only temporarily because the CBDC will "break down" at some point.

>>509144488
This is a real bank note printed by the government.
This is where USD is going.

>>509137393 (OP)
Not only that but it was created and is being propped up by alphabet agencies affiliated with the US gov along with MicroStrategy and Blackrock which can be considered a 4th branch of gov. These entities are buying enormous amounts of btc weekly propping up the price. Laughable when shitheads like Max Keiser try to make the argument that "muh cyberpunks" created it with the blockchain.

>>509137393 (OP)
OK smart guy. Can you guess the top? Or when it will crash?

>>509137393 (OP)
>100k for a bitshit token
It's all kept afloat by globohomo and their unlimited fiat printer, it would have never ballooned to 100k if they didn't pump it themselves, retail doesn't move shit, retail is broke

Bitshit was an idea anyway, it will not become the reserve currency or the next settlement layer, that will obviously go to the X tokens and countless others they have prepared.

>>509144847
Bitcoin is completely open source and you can look at all of the code, there is no trick.

>>509141425
>it's not tangible therefore it's scarce
This is how you sound. You're right about usd in part though.

>>509144816
Zimbabwe was pegged to the US dollar.
The US dollar is pegged to its military force and its ability to tax the populace.
Your comparison is like trying to say some ghetto convenience store operates the same as Walmart.

>>509144982
Yep, just an innocent Japanese guy with a heart of gold was behind it I'm sure. It definitely wasn't DARPA or the CIA.

>>509144847
Correct, I would make a guess here and say that they will compromise the systems with their new tech so that everybody will have to upgrade to new hardware and cryptographic protocols, so essentially Bitcoin will be rendered hackable because of the new tech they will soon release and only certain coins which adopt the new features and protocols (in a timely manner, as in it's all prepared beforehand) will survive.

>>509144847
Ignorant drivel. All of those institutions combined control a small minority of coins. And more importantly it isn't proof of stake, so even if they controlled 100% of coins they would not control the network.

Furthermore what MSTR and Blackrock are doing are not really related. Blackrock is responding to the demand of its fund customers, whereas MSTR is executing its own (smart) business strategy.

>>509145084
LOL you're a fucking retard.
Your money is going to be toilet paper real soon and you'll be broke.
I'll have Bitcoin and I'll be rich, maybe I'll pay you to lick my asshole clean after I take a big stinky chipotle shit.

>>509138029
If you use your card, yes, a fee actually is paid, called a merchant fee. Any business that receives money electronically, pays a merchant fee, around 1.5%, so if you make a transaction of 1k to purchase something, there is a $15 transaction fee.

>>509145314
Your bitcoin will be worth 1,000,000 pieces of toilet paper.

>>509140556
Nonsense. That doesn't create a "lower bound" for anything. What determines btc's value is the same as how anything's value is determined: whatever its purchaser will pay for it. If purchasers suddenly say "you know what, I don't want to pay even a single penny for a btc", do you know what its value will be?

Zero.

Its value is whatever everyone collectively decides its value is. "Its worth the miner's hashing power" is, and has always been, the mother of all copes - that hashing power is itself only valuable if purchasers decide it is.

>>509145234
Bullshit, all of those entities have an enormous percentage of the total btc. (((Satoshi))) has over 1 million alone. And many of the 21 mil btc have been lost over time never to be recovered so the total number they all own is not out of 21 mil, it's a much smaller number.

>>509137393 (OP)
So what? The game is not going anywhere. If I want to buy weed or a Russian guy next door wants to transfer money to his mom back home, we both use crypto.

Suppose there is a fucking Payoneer or Wise or Cash app, but you transfer their stock instead of depositing from your primary bank. Is it going to crash due to this fact alone? No. You just don't hold too much stock. It's not good to hold everything you have in one asset.

The threats to crypto is that it stops being liquid for some reason. For example, if Russia starts accepting Swift again, crypto might go down. Of if some weird country builds a nuclear electric plant and dedicates it to pump another coin, posssibly backed by the government money. Then BTC goes down, and that coin raises.

>>509138029
It's called taxes

>>509145592
Maybe Satoshi is dead, lots of people die while owning Bitcoin which pushes the price higher.

>>509144982
>2000 entities own 75% of bitcoin, it’s totally decentralized

>>509145832
Since nobody knows for certain exactly who or what satoshi is, i'll grant you that possibility however small I think it is.

Bitcoin's blockchain network is computationally very expensive to operate. This is why I don't believe in bitcoin, but the normal people do not understand or know this. Countless other cryptos make more sense because they're lightweight in comparison, litecoin is one example.

>decentralized super currency
>don’t let the banks and gubberment track your purchases!!
>blockchain enables everyone to track your purchases
What did they mean by this?

>>509137393 (OP)
If you think about it everything is a ponzu scheme, the value of anything depends on what people thing about it. Gold is Ponzi scheme, banks are Ponzi scheme, Tesla is Ponzi scheme, basically everything is Ponzi. When people loose a faith in something it will crash right away

>>509143704
This. It's just another fiat currency. Only one that can be 100% tracked and traced.

>>509145832
If all bitcoin inevitably gets tied up with corpses, then why would people buy it? Wouldn't there be a point in the future where so little bitcoin gets traded that people stop trading it and it loses all value?

>>509137393 (OP)
Oh look another retard fag from reddit. Keep taking financial advice from there and continue being poor.

>>509138734
>enforced by blockchain
Enforced in my comment meant the government forces all businesses to accept it and forces taxpayers to pay taxes in it. Blockchain doesn’t force anyone to do anything, retard.

>>509145895
99.9999999% of your insta-print money is owned by the government because they insta-print go brrrrrrrrrr

>>509144816
>the government
Not the fucking US government you god damned retard
>hur dur muh proof of concept
We will never be like Zimbabwe lmao
We will default back to a gold standard or Bitcoin before that shit happens.
Digits confirm

>>509138095
Do you genuinely not realize that you can sell your BTC for fiat? Just like gold. In fact better than gold in that regard because you can put that crypto fiat directly on a debit card. I spent a ton of crypto on real world stuff like groceries and the other things you mentioned. Its ok, my parents didnt get it either.

>>509146368
Price = Demand/Supply.
supply goes down -> Price go up

>>509138029
wire transfer is way more anal unless you do it on your phone but even then more anal than shitcoins

>>509146368
Not necessarily. Bitcoin is fungible, it can be split into infinitely smaller units of transfer. If the supply shrank to even, say, a million btc, people could just start trading in ".00001 btcs" or whatever. The supply getting locked up in corpses would actually be a good thing, sort of - it would be naturally deflationary.

>>509137393 (OP)
still better than fiat

>>509137835
Nonsense statement unless you're claiming the military is going to stop the printing

>>509146895
The only improvement over fiat is that the printing is done on a regulated and known schedule, meaning everyone knows exactly how much btc is in circulation at all times.

The rest of it is, ultimately, the same as fiat, unfortunately.

>>509137393 (OP)
seethe more glowies
keynesian kikes deserve the rope
also, monero is the final solution to the taxman question
>pic related

>>509137835
>The dollar is backed by the force of Emma and her two moms

>>509147023
Wrong. The biggest improvement is not being debanked

and if anyone can unironically help a brother at war out I'd be grateful

XMR: 863z4PE1ZBzC6BEixibR1YYqZVX3mEXHoB9WuibmhURPAnXFGihSGHKEhPEM7qmFxpXtS2PJisoQ8HGX4MjEYt2h4y5zvLg

BTC: 3JgC5fXR4TLTCoNXDATZSnryaP8hLKSg2o

>pic related, never forget

>>509144315
Because we regularly denominate in dollars you chicken fuck

>>509147203
Ahh, good point, forgot about that. No external control over funds.

>>509146602
> WE WILL NEVER BE LIKE ZIMBABWE
HAHAHAHAHA

>>509147268
never forget what, how incompetent you brownoids are?

>>509137393 (OP)
Two more weeks and everything but meat and bread is worthless.

>>509147268
reported for e-begging

>>509137767
>nerd
You are profoundly retarded. I hope you aren't white, the thought of a white man dismissing such a profoundly world changing technology and on an individual level, life changing technology, out of such arrogant anti intellectualism is disturbing

>>509137835
>>509142847
>>509144488
>not backed by an army
>survived over a decade and still going strong as a superior currency to fiat
What gives?

>>509146602
> WE WILL NEVER BE ZIMBABWE
Meanwhile the U.S. dollar has lost 97% of its value
HAHAHAHA

>>509147620
Intended this reply for
>>509138095

>>509147559
https://www.france24.com/en/live-news/20210601-lebanon-crisis-among-world-s-worst-since-1850s-world-bank
were being fucked by kikes since we were here
and still fighting
you wanna report me kek
sure man
>>509147679
we got it worse
fuck (((banks)))

>>509144357
Most people don't understand what freedom is and think both the mental and physical enslavement they live under is liberty. This also applies to those who claim to be redpilled.

>>509147864
You don't seem to realize how bad everyone has it. Also, not my problem. Reported again. Take your e-begging to Faceburg

>>509142847
>muh army
did the army come when eggs where 12 dollars all of sudden?

>>509137835
Fiat currency is backed by whatever the fuck, same can be applied in Bitcoin.

>>509137767
>Bitcoin is as valid of a currency as any other.
Funny how only 0.1% of people use it for actual currency.

>>509140556
Sounds like like Labor theory of value>>509140625

>>509137767
True. Both have no value if you are not spending them. Gold has value even if it sits on the table.

>>509137767
>Literally just described fiat currency.

Except all other fiat currencies have the force of law to back them up. Literally entire LEA's, courts, judges, and militaries. Bit-Con has none of that.

>>509137393 (OP)
You don't need to write a wall of text to say it's a bubble, just say it's a bubble.

>>509150080

>>509138095
this doesn't imply that Bitcoin is worthless, because the value of Bitcoin is derived from being a trustless and decentralized ledger, which is actually a revolutionary commodity which has been tailored specifically to function extremely well as a medium of exchange, and thus in turn be a great store of value
remember that the value of money lies in expected future purchasing power, act accordingly

>>509137393 (OP)
As long as it’s functional, bitcoin can’t go to zero.
It probably has a floor of 100 bucks for the foreseeable future

t. Nevercoiner

>>509137800
Oh good, well as long as everyone trying to make money is moral I guess bitcoin saved us.

>>509138433
It’s the most direct and accurate answer.

Our sanctions probably helped. They are basically tariffs where the wrong government gets the money.

>>509137767
Postage stamp are backed by hard assets.

>>509137835
Italanon is the only one here not giving a niggerbrained take. All currencies since the first ones minutes in Lydia in 500 BC have been backed by some form of military power. Bitcoin and other shit coins are just parasites on the Fiat system. They all get traded back into Fiat and are propped up by Fiat.

>Buttt my Buttcoin isn't backed up by the US military!
Yes it is you dumb niggerbrained mutt. All of it is. Whether Disneyland dollars or Canadian Tire money, it's all just nominally supported by the US-backed Fiat system which is reinforced through the threat of military intervention by the US if any Nation chooses to defy that said system. This can be done actively like Iraq, or passively like Venezuela. But all roads lead back to the US's military power that protects trade routes and projects power globally.

Without that backing Bitcoin would vaporize into the digital horseshit that is. It's mined on technology built and paid for by the globe supply chain, and even now it's just seen as a highly speculative, volatile joke, meme commodity. Any dumb niggerbrained faggot who thinks otherwise is too stupid, ignorant or delusional to understand this basic concept.

>>509138029
international wire transfers take DAYS, like, business days!

>>509140556
Please give instruction on how to exchange my bitcoin for the hashing power used to maintain the network.
Retard.

>>509142511
>That means 2.14 trillion dollars worth of bitcoin is owned.
That absorbs a lot of inflation vs those monies going into housing or whatnot
It also excuses the next the next round of money printing at 100 to 1 leverage
Magically, you've created $200 Trillion
You can see why bankers love this shit

i mined everything i have. my power bill barely went up. *yawn*

>>509142511
This is how market cap works on literally everything that has ever existed, anon.

>>509142511
bitcoins are always "withdrawn", people keep them in their wallets

I dont know what you're trying to say

and that doesnt even change the price, nah man you have no idea about what you're think you know

>>509137393 (OP)
of course, you're retarded to buy in now. The only people who've made it are the ones that bought bitcoin back in the day when it was like $50. You should explore web 3.0 technologies that actually shill a coin that's cheap. For example I bought 10'000 XRP at $0.20 and the value has x10. If it goes to $20 I'm x100 richer.

>>509137767

yeah, but without fiat, bitcoin and other such meme coins become worthless, and only further proves the statement made in the OPs pic.

>>509151371
send a transaction, it'll have a fee.

yes the cost is ultimately determined by whatever it is exchanging for in an open market as individuals collectively decide what benefits there are to doing so.

pointing to the underlying costs of the system helps identify how people make determinations of it's value. As btc becomes more valuable, the benefit of attacking the network goes up, this cost is balanced by miners who invest to capture more from fees and rewards.

>>509153678
Hey illiterate retard, try again.
Please give instruction on how to exchange my bitcoin for the hashing power used to maintain the network.

Buying drugs and paying a premium does not get me the hashing power my currency is “backed” with, it gets me drugs at an up charge.

>>509141223
It's backed by the government's ability to collect taxes

Shut up boomer
I bet you want us all to open IRAs and "invest" in Lockmart or some bullshit.
$8k a year max contribution ohhhh boy can't wait another 35 years to finally get my money back after inflation raped it.
Totally not a scam like crypto amiright lole.
Surley I will afford the $500k I need to not get beat by niggers in a nursing home when I'm 70 saving $8k a year and investing in Walmart.
There's two kinds of people
>people that buy bitcoin
>retards