/biz/ - Business & Finance

>>17900431
Pretty sure 0

I'd say around the area where it bounced from.. so 3,8k?

Literally 0. It's just ones and zeroes and doesn't even have the backing of any organization like a government behind it.

Sure real money is bits on a computer screen as well but it has the backing of a population willing to contribute labor behind it so it will always be worth something. Bitcoin lacks any centralized figure giving it credibility so there's absolutely nothing stopping it from reaching zero.

>>17900431
>200 MA destroyed
>50% drop in a few hours recently
>More than 5000 shitcoins that do absolutely nothing of economic value
>Exchanges wash trading the shit out of it

Between 0 and 1 cent, but it won't happen unless we start a really agressive campaign against those scammers at Binance, Bitmex and Bitfinex.

>>17900537
The whole point is to be anti-government kek. Same could be said about your precious stocks.

>>17900431
Pretty fucking low. This is no longer a safe place for btc to be at since stock to flow model has been invalidated which has reduced confidence including mine.

>>17900582
>The whole point is to be anti-government kek.
I understand that. Just because it's "the point" doesn't mean BTC doesn't suffer the consequences.

Metal money has inherent value because metals are useful in manufacturing. Paper money has inherent value because of the organization issuing it is giving it credibility. As long as the country doesn't dissolve into a failed state money will always have some value because a country equals workers and workers can provide value.

Bitcoin lacks any centralized figure giving it credibility (the point of BTC) which means that when shit hits the fan there's absolutely nothing stopping it from losing all value. The bits themselves are worthless and there are no Bitcoinians who could at least provide value. It's entirely speculation, where as paper money is just partly speculation (since real people living within borders of the country exist).

$4500

>>17900668

Value of btc is security of network

>>17900843
what's a death spiral

>>17900431
It all depends of Tether

>>17900843
The technology behind bitcoin isn't tied to the value of bitcoin. The blockchain as a technology has value due to its possible applications but it isn't related to the price of bitcoin. Owning bitcoin doesn't give you access to the technology enabling bitcoin to function nor do you need to own bitcoin to use a blockchain in your own application.

Unless you meant the privacy of trading with bitcoin but that isn't inherent value. It's just a positive attribute. The privacy bitcoin offers only has value as long as BTC has value. An encrypted email has no value just because it's a secure way to communicate.

>>17900913
Yeah but you forgot that there are mechanisms that increase the value of BTC that are inherent to it’s design. There will always be some holders of BTC and there are plenty of Bitcoins that are lost forever which will never be sold, the halving also decreases the inflation in half each time it occur which further limits supply until eventually (long time frame) it will become an deflationary asset. Bitcoin won’t die but it could see a huge reduction in price but the economic model is in place for BTC to increase in value albeit at a slower pace if somehow we death spiral which I don’t see happening.

$300-400

>>17900489
>>17900537
>>17900575
All of you saying 0 - you do realise you’re implying people will be giving their bitcoin away for free, right? I cannot fathom how retarded you must be to believe this.

>>17900913
>The technology behind bitcoin isn't tied to the value of bitcoin.
holy shit, your disingenuous. The average gold buyer doesnt buy it to do anything with it besides hold that shit. Just because it has "intrinsic value" doesnt mean it's being bought for that.

As for btc, you're ignoring how secure it is, how it is not subject having its supply changed, and how it is impossible to confiscate it in a cold wallet.

The only real problem with it is low market cap which makes it too volatile. Only good for trading because of that. Due to low market cap, it can't actually be seen as a safe haven yet. Maybe negative interest rates will help with that since that seems to be where the fed is headed

>>17901190
They used to give away bitcoin for free. I remember getting a bitcoin for creating a wallet. I never did anything with it so that bitcoin is lost.

>>17900537
I will back it

I'm gonna oh gawd oh gahhhh I'm gonna DOOOOOOOOOOOOOOOOOOOOOOOM

>>17901211
Ok retard, bitcoin is going to zero

>>17901210
Every few nights I see you defending Bitcoin with 2014-16 Andreas arguments. Just want to let you know that your dedication is admirable but also extremely gay. Best of luck

>>17901235

>>17901243
Except 1. not me 2. Not a counter argument 3. I didnt copy and paste that argument. Its just common sense. What fucking person actually buys gold just to make a fucking bowl out of it? People buy it because they see it as a store of value, not for the intrinsic property. That said, btc has intrinsic value. Secure network and safe along with limited supply. That's just common sense.

all this said, btc could fail. Wouldn't even surprise me. This is the first time btc has reacted to a recession and it reacted poorly. There could be another trigger to give it more demand such as negative interest rates so who knows.

>>17900537
>Sure real money is bits on a computer screen as well but it has the backing of a population willing to contribute labor behind it so it will always be worth something
but anon, I'm converting every salary to BTC, every month, since early 2017
>centralized
>credibility
it's more credible if it's decentralized, it means no one can fuck with it