/biz/ - Business & Finance

>>4926644
>We found out it wasn't so good for original purposes and now use it for something else.
It's an even worse store of value than a currency. The value of Bitcoin is 25% less than it was a day ago. Does that sound like a great store of value to you?

You aren't using it as a store of value, you're using it as a get rich quick scheme.

>>4901211
You aren't "investing" in Bticoin, you're just hoping some poor sap will be willing to buy yours for more than what you paid.
Why do people buy Bitcoin? Because it's value keeps going up! Why does it value keep going up? Because people keep buying it!
If that sounds sustainable to anyone, they are deluded.

Welcome to biz

>>4895218
>Everyone and their mother is losing their money in bitcoin now.
FTFY

>>4882286
10 years. Bitcoin has been out for almost 10 years.
>No one uses it as a currency
>Everyone just hoards it
>Everyone thinks they will get rich from it
>Everyone hoards it even more
It ain't going anywhere. The few places that accept it are becoming fewer each day. At this point everyone is just hoping some other moron will pay them their money. Hoping the exchanges won't run off with their money before they can cash out.
The only people who think Bitcoin is going anywhere are deluded or they are scamming others into buying so they can have someone left holding the bags.

Cryptocurrency may go somewhere someday, but Bitcoin is just going into the ground. It may had a chance 5 years ago when people actually still used the thing to buy items. You know, what a currency is there for.

>>4855884
>Coinbase gets 100k new customers a day.

>>4847985
It's not hope, but hype.
Why do people buy Bitcoin? Because it goes up in value! Why does Bitcoin go up in value? Because people keep buying it!

>>4848219
>Bitcoin is more transparent.
Hahaha. Buttcoins is so easily manipulated. The exchanges are all shady is fuck.

>>4827595
>(also they're overpriced by a fuckton
You can easily make the same argument for buttcoins.
Much like Bitcoins, there is always a fool who will pay for those overpriced diamonds. At least, until the bubble pops.

>>4777584
It's not a good investment. Who or what are you investing in? Oh, you're just hoping some other poor sap will pay more than you did.
>>4779357
>and near instant transfer??
Until you try to cash out lel

>>4723368
It's proportional to how easy it is to put money into BTC. You can do so in a matter of minutes.
>>4723396
>the more popular it becomes its more probable you can cash out
Depends on the amount. For .5BTC, easy. Pretty simple for just a few coins too. 50,000? 100,000? Lol. I wouldn't be surprised if the market crashes as it does at least 2 or 3 times a year. Doesn't help that people are thinking of it as an "investment." But why do people buy Bitcoin? Because its value always increases. Why does its value keep increasing? Because people keep buying it. That's hardly sustainable, especially something designed to be a currency.

>>4712102
Greater fool theory.

>>4683711
>But the REAL coins, the ACTUALLY useful and BENEFICIAL coins, will prosper soon after.
Which will never happen because everyone just tries to get rich off of crypto, instead of it being used as a currency and it can never be useful as a currency unless it's stable which it won't ever be because everyone uses it as a get rich scheme.
>>4683745
>New coins are just money Grabs
So is Bitcoin.

>>685645

>>174291
People are idiots.