/biz/ - Business & Finance

>>24898105
>Can't program it either
you can

>>24898105
>Is the only thing going for Bitcoin its first mover advantage and long-term reliability
Yes. With time other coins will start gaining traction and BTC dominance will decrease.

>>24898105
It is only big now because it is the most well known and adopted, in the next decade it will be very obsolete and most of the crypto market will be in alts.

>>24898105
here ya go
>https://www.icaew.com/insights/viewpoints-on-the-news/2020/oct-2020/how-hayek-predicted-bitcoin-and-the-rise-of-crypto
>https://www.youtube.com/watch?v=6MnQJFEVY7s

>>24898206
>>24898206
Agree

>>24898152
Very limited

>>24898309
As I said BTC sucks at being cash. How many real world transactions have you made? Did you use a third party payment processing service (which defies the entire point of BTC?

>>24898528
>be living in Lebanon or Venezuela or Zimbabwe
>government won't let you hold USD or foreign investments
>hyperinflation
>bitcoin exists
>anonymously convert your net worth into bitcoin, memorize ten words, destroy the keys
>costs five dollars to send a transaction if they ever need to move it
bitcoin does great at its purpose and it fulfills the prophesy of Hayek and Friedman

you're a brainlet if you think that people have to buy their morning coffee with bitcoin in order for it to succeed at its purpose

go ahead and keep coping while maxis get rich

>>24898105
its good for buy your mom's, daughter's and wife's pussy.

>>24898105
you're so repulsively poor that you shouldn't be on this board. In some ancient cultures, they've created the idea of "untouchables". Its people so stupid, filthy, repulsive that even their gaze is considered harmful.

You are committing violence against other REAL PEOPLE by posting your inane stupid poorfag ideas. These other REAL HUMANS don't deserve to have the catalog all fucked up with the ramblings of a worthless piece of shit.

>>24898105
You keep money in coinbase in USD then transfer over to BTC when you're going to make a purchase for something. Alternatively if your economy tanks, put your native currency into BTC as it's an international currency. At that point keep your money in BTC and convert to USD to make a payment. If there's a true collapse of the dollar, people who follow this tactic will be the billionaires of the new condition. If bread costs $1000 USD and your life savings is the current value of $30000 USD, you can buy 30 loaves of bread. If you put your $30k into BTC before your dollar was devalued, you cam then buy $1k USD for what used to be $1 or so.

You'd have to be economically illiterate to not understand what a huge safety net this is. Currencies can literally no longer collapse as there is effectively an international currency.

>>24899104
Kek, looks like this maxi ran out of arguments and is on tilt. I have a lot of alts by the way.

What do you mean price fluctuations are too high?
1 btc is always 1 btc. What’s your point?
And no, I’m not memeing, I’m trying to make you see that it is your problem for denominating everything in usd. It had the reserve status for some time, but clearly as this year (and really the last decade) have shown, no national currency should ever be the global reserve currency in the current era of humanity with digitalization and globalization. Your argument for btc is actually true only because the us government keeps fuckijg with the usd
You have to understand how ridiculously early you are to a technology that will forever change human civilization. Embrace it

>>24899748
Based

>>24899647
Seems tedious and coinbase can always fuck with you. I had to verify my bank account (always the same one) at least half a dozen of times over the last five years. No idea why. Also there's the issue of taxes. If inflation is your concern, then why choose Bitcoin over any alt? Or land, gold, stocks etc?

I can send like 100K worth of money to someone across the globe without any bank middleman making some dumb wire or anything like that.

You can send literal millions to anyone in the world just like that.

>>24899748
Because it's highly deflationary, you will not want to spend it. That makes it bad money.

>>24900062
What about alts?

>>24898105
I'm in a good mood, can't tell if this is a troll or not, I'll assume you're new.

>Can't use it as money
Bitcoin is on its way to becoming money. Money is first a collectible, to a payment system, to a store of value and then finally money.
This has taken millennia in the past, however with bitcoin we are seeing it unfold within a single persons lifetime.
>Single confirmation takes 10 minutes
It's still transferred instantly, and is orders of magnitude faster than swift and gold.
>Can't program it
wrong
>Can't scale it
right at the moment, about to be very wrong.. do you actually think this is an unsolvable computer science problem?
>not anonymous
If you're smart it is.
>has no unique characteristics, just a protocol
Bitcoin isn't even an invention, its a DISCOVERY that digital scarcity even exists, this is a ONE-TIME phenomena, it is Bitcoin or nothing. If bitcoin fails, the longevity and security of any other coin can never be trusted.
>Is the only thing going for Bitcoin its first mover advantage and long-term reliability
yes its called the lindy effect, it's also open source, had the fairest distribution and its creation can never be replicated ever again, the creator also had the fundamental knowledge to not attach himself to it, one time history event.

>>24900000
Nice get
>>24900064
Why do you always have to spend your money? Why are you such a cuck for bankers and their inflation meme? Why does the money have to be burning in your hands for you to do something with it?
The inflation argument has done quite a number on the smooth brains. Just buy things with it when you need to, and then whatever you don’t need to is going to be left as savings that won’t vanish every time the FED farts. This is a stupid argument

>>24900064
Deflationary and unstable only while fiat exists in this world. If fiat ceases to exist, it'll be stable and nor inflationary or deflationary.

>>24900342
I mean, the scenario where fiat dissapears in our lifetimes is complete insanity tho.

>>24900332
>Why do you always have to spend your money?

I'm very anti materialistic. Even if I could afford a lambo, I wouldn't. The problem is global - not individual, meaning the entire economy. If everyone hoards money, the economy crashes. Happened before. It's called the great depression.

>>24900342
No that's not true. You could measure Bitcoin in the number of iPhones you can buy with 1 BTC. Compare it to a few years ago, or 5 years ago, or even 10. Extremely deflationary. Which is great as a wealth storage, but bad as money.