/biz/ - Business & Finance

>>15527338
Kek what if it's not. I'm getting that hopium

>>15527338
>What makes crypto like BTC a good store of value?

Next year it will have lower inflation than fiat and the hashing rate is so big that it is 51% attack is insanely costlier

>>15527338
Stores of value don't exist, it's all supply and demand.

>>15527338
>What if the 'Blockchain, Not Crypto' narrative is true
it's actually the opposite
saying that blockchain is cool but bitcoin is bad is like saying that suspension systems are great but cars are bad

in reality all those blockchain maximalists are just virtue signaling, they pretend to be better because they want to "provie muh utulity" or "change the world" but in fact they are just disgusting late comers and/or too poor to afford a few bitcoins

blockchain on its own is a meme
more holding, less building, bitcoin not crypto/blockchain
store of value, not payments,

>>15527338
'Store of value' in technology is not granted to stunted products. It's a way to keep the crypto space in line by convincing everyone to put their funds into stagnant technology instead of innovation.

>>15527706
What people don’t understand is that blockchain is just a cool name for “database with signed data”
BTC is much more, blockchain is only a small part of it, there is an economical model behind, there is proof-of-work to ensure the most democratic distribution possible, and it was entirely designed to be sound money.
“Blockchain” maximalists are just circle jerking off on “banknotes” instead of looking at usd value
Yeah banknotes are nice, they have magnetic ink, different layers, uv ink and much more, but they are worth 3cents

>>15527338
this meme is used by boomers only because they're really afraid of using bitcoin; they think it's a centralized server storing the coins or that the coins are an actual computer file. That or they think 'volatility is bad', but keep using the dollar (90% down on it's purchasing power)

bitcoin is the real innovation here
the whole game theory and putting proof of work to validate the blocks is the work of genius
Szabo is truly ascended in terms of intelligence

>>15527338
It's not.. this narrative is retarded. Cryptocurrency is the only solid use case so far.

>>15527744
lmao, bitcoin was literally called bitgold before coding it
and how is SHA-256 a stagnant technology? nothing we currently have can even come close to breaking it

then realize that SHA-256 is only SHA-2
we already have SHA-3

>>15527338
>What makes crypto like BTC a good store of value?

The fact it has a spotless 10-year record and not a single fake BTC was ever fabricated or the BTC blockchain corrupted.

You'd have to be a fucking potato to think blockchain has any real value

>>15527338
>What makes crypto like BTC a good store of value?
the network, but the network is only secure and immutable because there is financial incentive (BTC rewards) to make it so

>blockchain, not crypto is a retarded finance bro argument

>>15527338
only demand gives btc its current value, doesnt really matter if its capped at 21m cause thats a century away from being a thing. Demand can dry up fast if we dont hit a new ATH soon.
Think about it, at any given time there are millions of btc sitting in wallets. The only thing you can do with them is send them to other wallet, trade for alts or trade for USD.
Since the only thing merchants accept is fiat, you can guess what happens when this speculation frenzy slows down

>>15528548
this

>>15527338
also to answer your retarded question
>What makes crypto like BTC a good store of value?
the fact that it has a limited supply
permitionless
with minimal (almost nonexistant) governance, and don't let the indians crying 'muh blockstream' fool you. blockstream did almost no commits to the code, they develop a layer2 which does not affect the layer1 what so fucking ever. it's like saying Toyota is finished because some kikes make cupholders that you can buy for Toyotas.

The tech is hijacked by deep states for extra surveillance
China is already getting on that train

>>15528564
>slows down
oh yea, it will slow down anytime now lmao
i don't even speculate but it's really funny to think it's going to slow down for any fucking reason at all
plus the whole point is for the money to sit there, what do you do with a store of value? you fucking store it

>>15528577
>t. never saw the integers and hashing from the source code
you know that the word 'deep state' means the public servants of governments, right?

>>15528526
It's not a meme. It's the truth, but the coiners are so deluded with thoughts of easy unearned wealth that they are blind to see it.

Let's start with the electrical usage. Right now, the per-transaction electrical cost for a single BTC transaction is 607kWh. That is roughly the same amount that a house uses in 28 days.

If BTC were ever to go mainstream, there wouldn't be enough electrical generation in the world to handle the transaction. Not to mention the cost of verifying purchases is well above the cost of minor purchases using BTC.

https://digiconomist.net/bitcoin-energy-consumption..

Then there's immutability. Sure, that's nice if you're spending $200k on a house; but does the entire world need to know that I'm buying a bottle of soda? And is it necessary that this purchase be enshrined forever?

Then there's the decentralized verification. While I might agree with fear of government overreach, there is no logical reason to move control of currency to strangers on the other side of the world.

Which brings us to the technology. Crypto won't work when the internet is down; and we all know how often we (or companies) lose their internet connection.

Finally... BTC offers nothing that already exists; and there's no reason for companies to pay more for the same service.

>>15528574
Scarcity means nothing. The amount of shit that comes out of your dog is scarce, but people aren't lining up to pay $1000 per oz for it.

BTC, for now, has no real practical value in the mainstream. Yes, it's handy for illegal transactions, but there is nothing it can do in the mainstream that can't be done faster, cheaper, and better than by existing systems.

>>15528598
there is no storing of any value or money 'sitting there' like in a savings account, someone gave you this digital unit of which there are limited amount, in exchange for your dollars, this 'someone' is mostly exchanges these days and they're making huuuge bank.
Now for you to do ANYTHING with these btc (lets get real very few accept btc) you NEED to sell it for cash again and if for some reason people lose trust in this whole scheme you are pretty much fucked and you wont be able to get all your dollars back.
>i dont speculate
therefore you are always speculating when buying btc, not storing value. Way to fall for a meme

>>15528632
>Finally... BTC offers nothing that already exists; and there's no reason for companies to pay more for the same service.

I live under capital controls , btc offers me a way to get my freelancing income and do international payments.

>>15528727
Which falls under the category of illegal transactions (though that may be more of tax avoidance than tax evasion).

But the average person in the world doesn't have such a need. All they care about is that when they go through the checkout of a store, that their transaction goes through.

They don't care about HOW it goes through; and most never even consider how transactions are processed.

>>15528652
>>15528751
i dont think people here realize just how fast this whole market can drop 90%

>>15528632
>Finally... BTC offers nothing that already exists; and there's no reason for companies to pay more for the same service.
Good luck moving your FIAT capital from one nation to an other without any effort.
Did you ever had all bank account frozen?
I don’t like banks to have custody of my funds and use them as liquidity to leverage them into loans for someone else.
Fuck banks.
>pasta
>reddit spacing
kys faggot, you don’t belong here

>>15528652
>but there is nothing it can do in the mainstream that can't be done faster, cheaper, and better than by existing systems.

BTC tx costs are per tx not a % , the bigger the tx the cheaper it get's btc will become digital gold and a wire system for big transactions.

BCH OR LTC will take a place in payments.

>Let's start with the electrical usage. Right now, the per-transaction electrical cost for a single BTC transaction is 607kWh. That is roughly the same amount that a house uses in 28 days.

The electric usage is irrelevant miners could be shut down and the difficulty would decrease and so will the electric usage , the only reason the electric usage is so big is because this thing is valuable.

>Then there's immutability. Sure, that's nice if you're spending $200k on a house; but does the entire world need to know that I'm buying a bottle of soda? And is it necessary that this purchase be enshrined forever?

Yes you are correct centralization has it's advantages in mass purchases , and descentralization in money saving and wire systems that bypass retarded regulations.

>Which brings us to the technology. Crypto won't work when the internet is down; and we all know how often we (or companies) lose their internet connection.

Yes it will the blockchain is stored worldwide , there is no way all the internet will stop working at the same time ironically the governments distrusting each other will prevent this as long as 1 node is operating btc is safe.

>>15528751
>Which falls under the category of illegal transactions (though that may be more of tax avoidance than tax evasion).

Yea sure (((illegal transactions))) , nearly all of latin america is unbanked and so is africa due to capital controls and corrupt government regulations.

Crypto allows everyone to enter the world market while leaders do everything to balkanize the world economy in their retardation.

>All they care about is that when they go through the checkout of a store, that their transaction goes through.

And this is why the western republics are in a demographic nightmare , the government regulations have gonne too far , i have heard stories of venezuelans earning 100 usd a month freelancing having their income frozen due to gov regulations in first world nations.

It's peak clown world now , government regulations from one nation are clashing with the gov regulations from the other country , you can't take your money with you anywhere without crypto.

You may think i am larping but try to do a big bank wire outside something like the european union.

It will be frozen without reasons unless you are a company , shit's insane.

>>15528774
Yet another reason why BTC (or any crypto) as a "store of value" is crazy. It's especially interesting when people who scream about the devaluation of the dollar promote a crypto that can (and does on a regular basis) lose 50% of its value

>>15528785
I'm American. Why would I ever bother moving my capital to another country? And no, I've never had occasion to have any of my bank accounts frozen. As far as not belonging here, welcome to the 1st amendment.

>>15528787
> wire system for big transactions
Probably not. The only people doing (legal) transactions that large are banks and governments, and they already have the ACH transaction system, which they are far more likely to trust than BTC.

> electrical usage
Which tends to lean toward consolidation, where the poorer miners are pushed out and replaced by the larger well-run operations. So in the end, a system that is guaranteed by governments is replaced by a system guaranteed by unelected strangers in russia and china

> no way that the internet will stop working at the same time
I applaud your optimism, though it comes from a certain lack of knowledge. I can't be the only person in the world who knows that 90% of the worlds internet traffic flows through a single building; and that if ever a real war came that would be one of the first targets hit. An immutable blockchain is fine, but when you can't get to it, it's like a car with no gasoline.

>>15528807
A reasonable argument. I had not taken into account countries that were in the middle of collapse. However:

>nearly all of latin america is unbanked and so is africa due to capital controls and corrupt government
But when you consider that many of these same target nations have little to no access to stable electricity, it kind of limits their ability to participate in crypto transactions.

>>15528867
this, people act as if you can have an 'decentralized internet currency' when internet traffic is centralized. Like 95% of traffic goes thru US corps

>>15528867
>Which tends to lean toward consolidation, where the poorer miners are pushed out and replaced by the larger well-run operations. So in the end, a system that is guaranteed by governments is replaced by a system guaranteed by unelected strangers in russia and china

This will start to be reverted in 2021 once moore law limits are hit , once the last asics are reached residential electric costs will win to centralized miners.

Only reason residential crypto mining died was that you had to keep buying asics every year due to moore law advances , once that is reached an asic will last decades.

>Probably not. The only people doing (legal) transactions that large are banks and governments, and they already have the ACH transaction system, which they are far more likely to trust than BTC.

The system is only serving the system at this point if you are outside the us or the european union the financial system is totally broken , doing international wires is a pain in the ass , the only true worldwide payment methods are credit cards(with extreme limits) and cryptocurrencies.

Most of the world is cut from the international payment system , sometimes with clownish reasons such as venezuelans having their accounts blocked until they provide a credit card in a country where no one gives credit cards due to having 3 usd per month salaries.

>I applaud your optimism, though it comes from a certain lack of knowledge. I can't be the only person in the world who knows that 90% of the worlds internet traffic flows through a single building; and that if ever a real war came that would be one of the first targets hit. An immutable blockchain is fine, but when you can't get to it, it's like a car with no gasoline.

In the case of that the blockchain forks itself and the longest one remains the true one it may be in china while that happens , europe , or the usa , but cutting the entire internet is retarded even more with starlink and oneweb.

You literally can't have decentralization without crypto. End of story.

>>15528913
Crypto adoption is strongest in developing nations than in the first world , just look at localbitcoins data.

Just consider the fact that nigeria will have more people than the entire eu in our lifetimes and that it's an unbanked nation.

The future of crypto is bright , bitcoin will remain the reserve currency of the crypto system due to it's insane hashrate(due to high fees) , other coins will take the payment place later.

Consider that as we enter the 2020s we will see the first cryptocurrencies having lower inflation rates than fiat currencies.

This will be a monumental historic thing overlooked by economist worldwide that don't understand the tech and overlooked by the techfags that don't understand the economy.

BTC , LTC ,BCH ,XMR and after that even more cryptos will have lower inflation than national currencies let that sink , cryptos are where the internet was in 1998.
https://coin.dance/volume/localbitcoins

>>15528526
>That or they think 'volatility is bad', but keep using the dollar (90% down on it's purchasing power)
you dumb fuck.
"volatility" means bitcoin dropping 20% in six hours. that obviously makes it unviable as a currency, as these unpredictable short-term swings massively disrupt anything built on bitcoin.
the dollar consistently losing 2% a year is good. it's predictable, and mediums of exchange aren't supposed to appreciate in value.

>>15528751
You sir are a supreme fucking bootlicker / good dog who just sits there and takes what the government tells you to do.
Has it occurred to you that the government imposing limits on what people can do with their money it's what's actually illegal and immoral and not the individual trying to secure financial security by not bagholding worthless Argentinian pesos?
I hope all the bad things in life happen to you and only to you.

>>15528917
Again, we are talking about different things. Yes, the blockchain would continue to exist, somewhere, on some drive, in some country.

But I'm talking about whether it would usable. A cell phone without power is a paperweight; a gun without bullets is a club; and BTC without the internet is a series of useless files on a hard drive.

Look it this building (image). I'm not going to identify it or where it is located, but 70% of the entire worlds internet traffic flows through it each day. This fact is well known by everyone who matters.

If a big war would come (pick your enemy, china, russia, martians), how long do you think this building would remain standing? And once it's gone, so is 70% of the internet.

Then there are the undersea cables. 99% of the worlds internet traffic travels through undersea cables; and the location of those cables is also known. Do you think that an enemy (or an ally) is just going to to leave them alone?

So again... once the internet is gone, what happens to BTC?

BTC is the longest, most secure and most decentralized blockchain. This is what makes it a good store of value.

Blockain is a gimmick buzzword to make people think fake internet money is worth something and you people were dumb enough to fall for an obvious scam.

>>15527338
Shes so hot
Zoey deChanel look

>>15529033
Volatility is the enemy of "store of value" If you put your entire life savings into BTC for safe keeping in December 2017, 43% of your wealth would have evaporated.

A good store of value is one with a stable price; a price that can't be manipulated by speculators; and with enough practical use to be used by a large number of people.

>>15527338
You should buy more gold

>>15529051
You should try reading the whitepapers. many many pages of unmitigated bullshit, bound up in a classy font to make it look like it's not a big scam.

>>15529060
Yes, BTC is volatile right now but you're not seeing the bigger picture. Blockchain as a technology is still in it's infancy and BTC is still going through it's price discovery process. It's price will stabilize eventually.

>>15529069
The fact that they call them white papers life if its something special itself is pull shit. I have books filled with white papers that have more value than any of these shitcoin projects.

>>15529110
Stabilize to zero.

I'm still amazed that somebody avoiding capital controls is called illegal by this boot licking fuck.
Here's a pro tip retard, there's nothing illegal about transferring BTC from one country to another.
Show me a single customs form that mentions crypto, and when you fail to do so, kill yourself, preferably after killing other members of your family who are still of breeding age.

>>15529138
t. nocoiner

>>15529211
Also known as a smart investor.

>>15529256
Yes, so smart for missing out on 10000% gains.

>>15529281
$9 million per day lost to crypto scams. If you're not the one doing the scamming, you're the one being scammed. It's best to be neither.

https://www.investopedia.com/news/beware-9m-are-lost-each-day-crypto-scams/

>>15529311
Hardware wallets my dude

>>15529311
>getting investment advice from investopedia
Please go back to /r/buttcoin

>>15529377
Oh I'm fine. I'm not the one who drank the kool aid on play money.

There are now roughly 2322 crypto currencies out there. Nearly every week more are added. With each one, people are starting to figure out that there is nothing proprietary, special, or unique about any of them. It's a house of cards, waiting to fall.

>>15529392
It's quite easy to avoid shitcoins.

>>15529392
Wait until you realize your arguments against crypto can also apply to fiat currency.

>>15529018
>If a big war would come (pick your enemy, china, russia, martians), how long do you think this building would remain standing? And once it's gone, so is 70% of the internet.

If a big war happens it's only a matter of time until a nuclear reactor is bombed and we all die of radiation.

Wars between superpowers ended up the moment the trinity bomb was tested.

>Then there are the undersea cables. 99% of the worlds internet traffic travels through undersea cables; and the location of those cables is also known. Do you think that an enemy (or an ally) is just going to to leave them alone?

Again wars between superpowers are not going to happen also starlink and oneweb will bring low earth orbit cheap internet soon.

Only reason it did not happen was because launch costs forced satellite services into geostationary orbits , musk reduced launch costs by 20 times and soon we will have global internet without the need of cables since low earth orbit satellties can provide terabyte size capabilities with low latency.

>So again... once the internet is gone, what happens to BTC?

Same thing than fiat(since 95% of fiat is digital nowdays and only 5% cash).
That's the irony of the situation the only way to kill crypto is by killing fiat.

>>15529060
>Volatility is the enemy of "store of value" If you put your entire life savings into BTC for safe keeping in December 2017, 43% of your wealth would have evaporated.

Not if you where Argentinean , Venezuelan or a lot of other nationalities , also bitcoin inflation rate will be bellow fiat currencies in about 6 months.

>>15529392
> people are starting to figure out that there is nothing proprietary, special, or unique about any of them.

But a few of them are special and unique , specially those that had a long history and are now reaching lower inflation levels than fiat currencies.

You can't copy that you need at least a decade of mining to reach btc inflation rate.

>>15529444
except that dollars are backed up by the full faith and credit of a nation; while crypto is only backed up with hope.

And come the day that the dollar collapses, the world comes to an end anyway, so money will be the least of our problems.

>>15528977
I like the fact he has no comeback. Good argument sir.

>>15527824
Deserves a (you)

>>15529448
>Wars between superpowers ended up the moment the trinity bomb was tested.
You know, they used to call WW1 "the war to end all wars". This is when they thought that nations would never again be so stupid, before they became smart enough to number them.

>Same thing than fiat(since 95% of fiat is digital nowdays and only 5% cash
That would happen to credit, but if you would still have the ability to make transactions in paper cash.

>especially those that had a long history and are now reaching lower inflation levels than fiat currencies.
Meanwhile, BTC has lost 1/2 of it's value on multiple occasions. I'll take 2% fiat inflation over a chance of losing 1/2 my stack on any given day.

>>15529456
>except that dollars are backed up by the full faith and credit of a nation; while crypto is only backed up with hope.

Proof of work based cryptos are backed on electricity , the miners won't sell bellow electric costs if fiat inflation increases globally so will the price of bitcoin.

>>15527338
why do you keep posting this chick is she a twitch thot?

>>15529466
I didn't reply because his comment wasn't directed to anyone. I would have mentioned that to him, but he was too busy giving me "pro tips"

>>15529480
> backed by electricity.
I can't believe you wasted precious electrons to type that.

>>15529479
>You know, they used to call WW1 "the war to end all wars". This is when they thought that nations would never again be so stupid, before they became smart enough to number them.

Nuclear weapons are a different history , the leadership would get killed faster than the soldiers , wars are about shilling and trade now.

This is why crypto will win , governments are shilling against each other and fighting indirect trade wars worldwide.
Take for example muh amazon bolsonaro bad , anyone with 3 digits iq knows that Macron created the entire larp about the amazon burning to boycot the eu mercosur trade deal.

Hell even nasa data showed that the firest where actually not outside the norm.

That's how wars are fought now , or trump creating tarrifs or the eu putting regulations about the circunference of apples to protect their internal market.

>That would happen to credit, but if you would still have the ability to make transactions in paper cash.

Yea sure , if that happens there would be a global bankrun that would destroy the concept of fiat currency for at least a century and half.

>Meanwhile, BTC has lost 1/2 of it's value on multiple occasions. I'll take 2% fiat inflation over a chance of losing 1/2 my stack on any given day.

And it was still the best performing currency of the decade.
Bitcoin bubbles will end in may next year once it's inflation goes bellow central bank currencies inflation.

Once fiat losses value faster than crypto , the price of bitcoin will rise just like housing did the last 10 years of quantitative easing.

The Revolution Will Not Be Centralized

>>15529493
Take the halving pumps game theory


1_All the miners have a reduction of 50% of their income in bitcoin.
2_Their electric costs remain the same.
3_They now earn 50% less
4_They refuse to sell at this price because they know everyone else doing mining is under the same situation.
5_Price starts to go up due to lack of supply in the market.
6_Eventually price does 50% increase and miners could be in the green again.
7_Speculation starts at what will the top price be.
8_Miners still refuse to sell because it could go up even higher.
9_Miners having different electric costs all have different breakeven price.
10_Price keeps going up as news spawn all over the world.
11_A bubble starts to form
12_Some miners start to sell to pay electricity
13_Bubble becomes insanely big
14_All miners start to sell.
15_Fees become massive
16_Bubble explodes
17_Price collapses 83%.
18_The new bottom where everyone tells bitcoin is dead is literally so big that years before it would have been considered insanely high and that it would never happen.
19_Bitcoin starts to grow again in the next halving.

GAME THEORY
Next bottom will be 55k after going to more than 300k.

The Revolution Will Be Descentralized

Once bitcoin reaches lower inflation rate than the usd and euro next year we will enter into a new era of history that will culminate in the separation of currency and state.

>>15529480

But let's deconstruct this entire comment:

>Proof of work based cryptos are backed on electricity , the miners won't sell bellow electric costs if fiat inflation increases globally so will the price of bitcoin.

"proof of work" is useless, unless the work itself has value. For example... if I hire a person on Monday to dig a hole and then hire someone else on Tuesday to fill the hole back up, a lot of "work" is being done, but it is valueless.

The "value" of the miners "work" is simply perpetuating the bloated BTC system. And, since the number of total BTC are limited and each transaction requires mining, this creates a system where all BTC eventually flow to the miners.

As far as miners refusing to work at a loss; there are several miners who worked at a loss, and many people who set up expensive mining shops only to go broke later on.

But let's say miners decided as a group to stop mining out of protest for being underpaid. What would happen then? Well, BTC would become useless because it would no longer be fungible, would no longer be useful as a means of store or payment since it could no longer be transacted.

The real problem is that the entire theory of bitcoin is flawed; but you have so many people wasting time energy and money to support it, that it will take a little longer for the entire thing to collapse. But it WILL collapse in the end, because reality always wins in the end.

>>15529493
Oh, I see. You're just retarded then.
You literally labeled avoiding capital controls as criminal activity.
It was absolutely directed at you, you dumb rube.

>>15529448
>Not if you where Argentinean
love how these libertardians talk out of their ass. Im from Arg, If you bought BTC instead of US with your pesos on dec 2017 you'd make way less return (in pesos) and you would be down in dollars.
Dollar more than tripled in pesos since dec 2017

>>15529456
>Full faith of the government
Yeah we'll see how far that faith gets you when the likes of AOC become old enough to become president, and/or the dollar uses it's world reserve currency status.
You'll see your paper halve in value within a year with no prospect of gaining value again.

>>15529526
>Next bottom will be 55k after going to more than 300k.
You're delusional. Plain and simple.

>>15529559
What happens if you bought BTC almost any month but the two at the last peak?

>>15529573
AOC will never be president. She isn't even going to win her re-election next year. The democrats are going to primary her out because they don't like her being a pain in the ass.

And again, if the dollar collapses, it's the end of the world. If you don't understand this then you understand nothing about history or world economics.

>>15529559
Also post a picture of your hand next to some physical Argentinian pesos, you shyster.

>>15529590
same argument can be said of any currency in any country, has nothing to do with shit pesos, you'd be way up

>>15529597
It's literally not the end of the world, there's a decent chance gold will replace it or maybe, decades from now, the RMB. All of this would happen quicker if the USA fucks up its finances more. Every world reserve currency falls to a different one over time, this doomsday prophecy of yours didn't carry out for the Portuguese, British, Spanish, or anyone else.

>>15529614
Which currency can you buy right now in any significant quantity with the capital controls put in place last month?

>>15529559
Coming from a country where freelancers had to take planes to uruguay or chile to get their income out in 2014.

Yes in usd you would be down but not for long , also you would only be down if you bought in two fucking weeks in december 2017 , in all other scenarios you are up.

>>15529545
>"proof of work" is useless, unless the work itself has value. For example... if I hire a person on Monday to dig a hole and then hire someone else on Tuesday to fill the hole back up, a lot of "work" is being done, but it is valueless.

It's not valueless , it means that if a governments want to attack the network they will need to spend billions to reverse a single transaction.

>And, since the number of total BTC are limited and each transaction requires mining, this creates a system where all BTC eventually flow to the miners.

Quite the opposite miners are the majority of the supply being sold as they are forced to sell due to the electric costs , this is why the halvings have a pump afterwards , because the miners stop selling due to the game theory i pointed to you.

>As far as miners refusing to work at a loss; there are several miners who worked at a loss, and many people who set up expensive mining shops only to go broke later on.

>SELL AT A LOSS
>GO BROKE

Kek yes if they sell at a loss they go broke this is why the price goes up after a halving.

>But let's say miners decided as a group to stop mining out of protest for being underpaid. What would happen then?

The difficulty decreases and now you can mine back again with graphic cards , then with cpus , then with cellphones.

>>15529545
>The real problem is that the entire theory of bitcoin is flawed; but you have so many people wasting time energy and money to support it, that it will take a little longer for the entire thing to collapse. But it WILL collapse in the end, because reality always wins in the end.

Your commentary above about the miners being underpaid shows that you did not did any research about bitcoin technicals you don't even know about the difficulty adjustments.

>>15529575
Those are the pessimistic numbers actually , screencap this bitcoin will be above 180k 100% during september 2021.

Bitcoin will reach gold marketcap before 2025.

>>15527338
You have a misunderstanding. There cannot be a blockchain without an underlying currency.

The currency allows interaction with the block. No currency, no interaction.

If you want to use the service on the particular blockchain then you have to obtain some of its currency. To do that you will have to trade something for some which gives it a value related to how badly people or bots want to use that chain.

>>15529624
the 'capital control' is they allow you to buy 10k usd max per month, which is waaay more than 99% of us here make

>>15529624
>Which currency can you buy right now in any significant quantity with the capital controls put in place last month?

It's stockholm syndrome anon , some people won't get it until they end up like venezuelans earnign 3 usd a month because they are holding government bags and all gateways are closed.

The worse crap is that the so called "reserve currencies" , like the usd or eur are under control of lunatics that want to go full cashless to push negative interest rates , i am sure the argentinean government will let him buy digital usd or digital euro if the keynsians retards abolish cash in the eu or the us.

>>15529674
>the 'capital control' is they allow you to buy 10k usd max per month, which is waaay more than 99% of us here make

After the elections it will be probably 200 usd kek and with the solar minimum fucking agricultural nations in 2020 it's probably going to get rough.

This is good for bitcoin tough.

>>15528632
this whole post

>>15527706
I think you're only half right. One alt coin is actually used more for their utility than bitcoin. Monero, and it's precisely because it's both functional and doesn't leave a massive paper trail.

>>15529256
you're a retard, m8. I don't believe you have any money to invest to begin with.

>>15529604
>>15529674
>>15529688
He's not even a real Argentinean he's a LARP amateur.
I'm waiting on a timestamped photo of physical Argentinian currency you dumb fuck!

>>15529704
This guy actually believes the government narrative that it's the $10k per month people bringing down the value of the peso and not government mismanagement.
Let's see how well this is all going to ens up being 12 mo from now.

>>15529797
>Let's see how well this is all going to ens up being 12 mo from now.

Probably hyperinflation , also the solar minimum is happening next year and agricultural output decreases massively during solar minumum years , so the Argentinean peso is about to be rekt , so will the usd Trump is openly saying he wants a weaker currency top kek , and his agricultural base is also going to be rekt due to the solar minmum plus trade war so he is losing.

Should a "democratic socialist" end up wining the us presidency we will see bitcoin above 500k by 2021.

The brainlets here don't realize that bitcoin did more than 120x in the previous halvening events we could very well hit gold marketcap in this halvening tough i think it will happen in 2025.

>>15529797
>>15529788
i never said such, the real capital controls were during kirchner era and even then you could buy "otc" as much as you wanted. I dont need to prove anything to some random fag on a basket weaving board

very very informative thread, blessed board

>>15527338
>1 post by this ID
nice b8 m8

sage

>>15527706
>in reality all those blockchain maximalists are just virtue signaling, they pretend to be better because they want to "provie muh utulity" or "change the world" but in fact they are just disgusting late comers and/or too poor to afford a few bitcoins
Absolutely spot on. The people that say that kind of stuff want to cope about missing bitcoin.

>>15529875
What's the matter I figured even Argentinian can afford phones with cameras on them, should be a trivial effort on your part since you apparently care enough about me to want me to think you're from there by saying you're from there.
Why even bring it up at all you fake ass fake?

>>15530087
because you fucking mentioned my country

>>15530209
Yeah "your" country is an example of a country where your government is fucking up and they're limiting your options to mitigate your exposure to their mistakes, thus making crypto an attractive option.
What of it?

>>15529018
>>15529060
>>15529069
>>15529311
>>15529392
>>15529456
>>15529479
>>15529493
>>15529545
>>15529575
>>15529597
As an American, I would like you to kill yourself for polluting my politik with the filth of your genetic code. Someone who would argue so vehemently about a globally critical problem without performing a moment of research is a disgrace to all sapient creatures. Even vile creatures of the night who feed upon the flesh and souls of the living would spit you back out. The arrogance with which you multiply your ignorance creates such a supernatural void, the very tissues of your body would fail to nourish them. I used to think our two political parties would never agree on anything, but as West meets East and Night meets Day, dems and reps can finally say one thing in glorious unison: kill yourself. We don't want you here.

>>15530706
Not the same anon, but you're 1000 words to say absolutely nothing.

>>15530706
Yea he brough many Nouriel Roubini stlye of anti crypto arguments not well researched at all.

>>15527706
>saying that blockchain is cool but bitcoin is bad is like saying that suspension systems are great but cars are bad
There are plenty of vehicles other than cars, Anon. Suspension systems are very important in trucks and trains.

Cryptocurrency relies on people not realising that scarcity doesn't actually create value. But blockchain is useful without being a store of value.

>posts a delicious trap
>expects anons to pay attention to his post
Not gonna make it

>>15529311
People are scammed out of dollars daily, what's your point? People being stupid in no way invalidates crypto itself

>>15529392
Crypto will crash and burn for good ANY DAY NOW

your entire schtick comes off as someone salty he missed the gains on bitcoin and is desperately trying to rationalize this by convincing himself it's all a big scam and those who made money will lose it all one day. Its fucking sad and maybe in another decade when bitcoin is still around you'll have matured somewhat

>>15529597
>And again, if the dollar collapses, it's the end of the world.

Another deluded American overstating the importance of his nation. The history of fiat currencies is a history of long-run failure. The USD hasn't even been a global reserve currency for 100 years you ignorant fuck. The latest Jackson hole symposium already had some central bankers floating the idea of a global reserve digital currency for when china knocks you fags off your perch

https://www.wsj.com/amp/articles/boes-carney-floats-idea-of-new-virtual-reserve-currency-11566586800

>>15531873
>>15529055

So you're telling me she's a man...?

Hello faggots I exited in 2017 shortly after the BTC-BCH fork. What's the deal with SegWit? How has that debate evolved?

>>15533061
in other words does the whole 'big blocks for big cocks' still apply? big blocks are the ALPHA move, right? and segwit is gay banker jews trying to steal btc, correct?

>>15527338
>What makes crypto like BTC a good store of value?
anon, bitcoin is the ONLY cryptocurrency that is a good store of value

>>15529281