/biz/ - Business & Finance

>>24308446
One came into existence in 2009 one has been around longer than humans. You're the dipshit looking like a snapshot reactionary take on bitcoin.

>>24308808
Poor people can in fact buy bitcoin. And their choice is between government fiat and bitcoin.. One harms the poor, and the other just exists with an immutable monetary policy. There will always be a class of human beings less well off than the rest, because people are not equal. You know poor people do more to keep themselves down than any bitcoiner does a thousand fold. Don't let bitterness and resentment of "being late" have you spewing nonsense lies.

You can't time the bottom, but you can buy it. Just stack sats everyday.

The people who kept stacking through 2015 sure felt stupid in 2017 just because they didn't bulk buy at $150, right?

>>15171780
>I have to say, your weak-willed fiat-measuring tech-doesnt-matter attitude is disgusting and embarassing.
meaningless drivel banter
>It wasn't like this with Bitcoin until the lambo moon crowd became obsessed with making their emerging tech value like useless boomer gold before all else
"GREED BAD GREED BAD!" Yeah and your shitcoin is just a selfless charity project to help unbanked niggers buy coffee. Yeah right, so revolutionary. Never mind your bcashier scaling vision is short sighted and retarded. We just understand how a crypto can go about being a collectible for nerdy libertarians to being slowly monetized over the course of decades, and did not want to fuck up that process by trying to fully scale on-chain with bigger blocks & compromising on decentralization. You legit lost that debate, no one wants to talk about it anymore.

>This allowed banks and governments to completely hijack THE ORIGINAL PURPOSE as defined by the whitepaper. P2P electronic cash.
Tinfoil garbage. And if your arguments about bitcoin being worthless had any correspondence with reality then it wouldn't be the most popular crypto in countries like Venezuela, it wouldn't be effortlessly maintaining its status as #1. All successful monies are multi-layer, devs were right to see LN as the proper scaling method.

>Now you all find yourself fighting against adoption chanting HODL. Merchant adoption is dropping
Again this just underlines how you have fundamentally lost the plot and don't understand in the slightest how a crypto can go about being monetized like as shown in pic related. You have the basic bitch normie conception of "fiat is money, I use fiat to buy groceries, therefor a crypto can only go about the process of monetization by people spending it like they would fiat, by front-loading a kind of everyday spending network effect". This demonstrably does not work, all the shitcoiners who have repeated this view have been fucked over and over for reasons we can identify.

>>15106278
I mean it will be in the long term but in the short or medium term altcoiners are deluded for thinking that matters or is some kind of existential crisis for bitcoin.

>>14892812
>>14892875
based, sillicon valley wannabe soi boys have no idea what they are doing

I read /r/ethtrader for laughs, it's like a money losing cult.

>>14893864
you know retards are desperate when they start to argue "it would be worthless if civilization totally collapsed". But then ho ho ho he's got the basic bitch "it's a ponzi" argument too: >>14893960

>>14894002
Reddit researchers bring their preconceived notions to the table regarding money and what the monetization process of something that has never existed in history before ought to look like, and measure bitcoin based on those preconceived notions after exchanging narratives with other altcoin shills who are also operatingly purely on uneducated preconceived notions. If you say anything that sounds even a little counter intuitive in sound bite form, their NPC brains won't have the curiosity to look into what you are saying and consider it. They don't actually read anything about economics or bother to educate themselves on monetary theory from the school of thought that influenced Satoshi Nakamoto in the first place.

As the most transportable, divisible, unconfiscatable and hardest monetary asset that is accessible to anyone anywhere, Bitcoin will over time accrue vast majority of all monetary value. That has implications for other assets that are currently used as a store of value and therefore have a monetary premium - fiat currencies, stocks, real estate, gold, art, collectible cars etc.

A 1 Bitcoin is therefore 1/21 million of everything. Imagine owning 1/21 million of world's wealth today. Then realize that by the time hyperbitcoinization is complete, the population will likely be higher and productivity will also increase due to technological advancements.

Allegedly, 1 - 3 millions of coins were lost in the early years. If we settle at 19 million coins and population of 7 billion, that leaves 271000 satoshis on average per human. We all know Bitcoin will not be distributed equally and the median will be like 100000 satoshis at best.

>>13849461
Fiat money keeps forever inflating and diminishing in purchasing power. On the other hand, Bitcoin is the only absolutely scarce asset apart from time. Everyday the amount of people who want to hold long-term increases, and as soon as they hold, they are incentivized to propagate Bitcoin to new holders. Bitcoin has many network effects working for it at once. $5000 once seemed just as impossible as 50k, yet we blew past it and barely spent any time below since then.

>>13110902
I'll have to read that tonight. What is Bitcoin if not a collectible? It is a literal collectible right now, it serves no other utility other than speculation or to simply say that you have one. I'm not saying it won't evolve past that, I think it will, but you're mentally hilarious if you think it's proven itself as a store of value or a MOE yet

Bitcoin gives the 99% a money which allows them to preserve the fruits of their labor & makes the Cantillon effects manufactured by the 1% obsolete.

Bitcoin gives the 1% an asset completely inaccessible to seizure by a potential uprising of the 99%.

Demand will come from both.

>>13011368
This. Buy BTC or get rekt.

Now that we are all Bitcoin Maximalists, we need to take it to the next step and get rid of the confusion surrounding the monetary evolution of Bitcoin.
Bitcoin gives the 99% a money which allows them to preserve the fruits of their labor & makes the Cantillon effects manufactured by the 1% obsolete.

Bitcoin gives the 1% an asset completely inaccessible to seizure by a potential uprising of the 99%.

Demand will come from both.

I ask again, your excuse for not owning 21 BTC?

imagine not holding king corn

>>12872988
Unconfiscatable, uninflatable store of value and uncensorable, permissionless, global settlement layer in the form of an open source protocol that can be extended by layers with different trade-offs, such as the Lightning Network.

>>11896824
BTC was never a 'safe asset' for short term value storage, despite performing amazingly well in multi-year perspective. Stability increases with marketcap and volume, so when marketcap is in trillions, it will be more stable than now obviously.

>Usdt was the main and only store of value in crypto
Go ahead and store your value in USDT for 5 years. I will do the same in BTC and reality will decide who was the moron. Tether is just an instrument for avoiding taxes and KYC honeypots like coinbase, I will be surprised if it exists in 2 years.

>Bitcoin was purely for speculation
Yes, because it is a currency, not a revenue generating asset aka investment.
You are witnessing monetization of an unforgeable, unconfiscatable, uninflatable digital commodity which is more scarce than gold (finite supply). Nobody ever witnessed monetization of a commodity during their lifetime (gold was monetized across centuries, maybe millenia), thats why you dont get it. It cannot be smooth gradual adoption, it has to be in waves of speculative bubbles.

I'm just gonna leave this here...

>>10898013
You're the same kind of small mind that would have said the internet was useless outside of porn and criminal activities in 1994

I've been on this board since the beginning and while it was always a cesspool of stupid ideas (dogecoin, pandacoin, TIPS, trumpcoin) at least a good portion of the users were Bitcoin proponents.

Today the average biztard is either a paid shill (bcash, verge etc) or a desperate bagholder of shitcoins and therefore a useful idiot for the shills. Unsuspecting noobs comming to this place are at risk of falling for these scams and judging by the ratio of bitcoin/shitcoin threads, nearly all of them have.

I am gonna list a bunch of articles and books and hopefully at least a small percentage of lurkers will take the time to educate themselves, for their own good. Start with the articles, as they are faster and easier to digest. Then, if you get curious, continue with the new books from Saif and Aantonop. Scholars with a lot of time can continue with classics of Austrian economic school. You can get the books on gen.lib.rus.ec

WHY we need Bitcoin:
The Bitcoin Standard by Saifedean Ammous - MUST READ
'The Internet of Money' by Andreas Antonopoulos

HOW Bitcoin grows and operates:
'The Bullish Case for Bitcoin' medium.com article
'On Schelling points, network effects and Lindy: Inherent properties of communication' medium.com article
'Mastering Bitcoin' by Andreas Antonopoulos

A great compilation of resources about Bitcoin can be found on lopp.net/bitcoin.html

Now some of you might stop investing in dogshit scams in hopes of getting rich over night and focus on important things.