/biz/ - Business & Finance

you are retarded

No anon don't you get it??? It will replace FIAT and the whole financial systems of the world!!! In the future you will use Bitcoin to buy EVERYTHING!
>meanwhile Ethereum usage grows and basic fees are at $35, swaps cost $700
If fucking Ethereum can't cope with all the transactions then Bitcoin can not even dream of coping with them all. No scaling solution has been provided after ALL THESE YEARS. What the fuck are the BTC, ETH devs even doing? Just chatting on Twitter?

I traded BTC for ur mum last night.

end is near

>>29383926
Not an argument.

>>29383967
The funniest part is how everyone thought Eth2.0 was going to fix the fees, then the devs came out months AFTER everyone locked up their eth and said that it wasn't going to fix scaling.
These morons are being fleeced.

>>29383967
it is not needful of it to become world currency, it is storage of wealth sirs. pls donate to me you can email to me at akash.singh@gmail.com

>>29383967
ye and wait 12 hours to buy a fucking piece of bread.
RIGHT BTC IS THE FUTURE XD

>>29384175
>Not an argument.
I don't argue with retards

>>29384236
This storage of wealth is the worst fucking argument they have as well. They compare it to gold, that has been used for like 3000+ years and has its own unique intrinsic values to something that has been around for 12 years and is failing at its main usecase. Basically it's a store of wealth because people buy it because it has gone up because it's a store of wealth because people buy it because it has gone up...Ridiculous. It's a big ponzi at this point. You don't even use Bitcoin to buy drugs on the darknet markets.

>>29384582
They'll also claim that the price floor is held by electricity costs, as if there's no costs (let alone electricity) associated with dollar printing.

Bitcoin cash or even SV would actually be the solution but roger ver and Craig are just so Unlikable. And I’m saying that as someone that holds BTC

>>29384582
Digital gold meme is an absolute joke. Gold has never been only a SoV. Aside the SoV, gold has been used as currency for most of history. Now that time has passed, it is being used in technology.

Reminder about transactions per second

>Not going long on volatility
>Not hedging against a monetary regime change
>Doesn't understand currency vs money and shills his ignorance

>>29383967
Meanwhile NANO is instant and has zero fees. I have no idea why it hasn't taken off yet.

>>29384582
>Gold has been used for 3000 years why bitcoin?
>wooden war ships have been used for 3000 years why use steel?
>horses used for transportation has been used for 3000 years why use cars?
>Putting leaches on your dick to ward off spirits has been used for 3000 years keep doing it bro

>>29384100
redpill me on this

>>29383716
>GOLD IS THE FUTURE OF CURRENCY, COCONUT IS DEAD
>oh yeah, what can you do with it?
>...trade for coconut

Even if it goes against the principles of crypto, mastercard and visa are working day and night to make it happen. Your world is done boomer

>>29384772
The electricity cost thing might actually be one of the "more" valid arguments they have although still that just means that the miners are incentivised to not dump below their profit margins, but when they need to cover costs they'll dump it either way.
>>29384932
Yeah gold is at least useful and again with thousands of years of history. Meanwhile they think that Bitcoin's 12 year track record is something so solid in a completely new space. I think it was Peter Thiel who said that often times it's not the first companies who last, but the companies who come in a bit later to solve the first problems. Bitcoin for all we know could very well just be an experiment of blockchain tech.

>>29385203
>doesn’t put leaches on his dick.
Yeah keep trusting Big Pharma. They’ll get rid of your coom demons.

>>29385242
Kek

>>29385025
Ok i'll bite.

>might as well be flipping a coin
>Absolutely no hope of BTC flipping any regime because 1 US city alone would max out the TX rate.

>BTC is actually MONEY not currency!
What is BTC's intrinsic value? It's not it's scarcity, that's market value.

How is BTC money when it's purchasing power is measured in fiat? The same fiat you're claiming it will over take. BTC does not have a consistent value, the same reason people get tricked into buying it is the same reason it's not money.

If you let a BTC maximalist tell it, BTC is Schrodinger's Asset. It's a Currency, its money/store of value, its a hedge against inflation, its whatever you want it to be, just keep making that chart go up!

>>29385156
Lmao NANO is a joke. You think if NANO had solved the scaling issue while remaining decentralised that it would continue to be irrelevant? Where you around during the BitGrail times?
>>29385203
All of those things brought improvement. What improvement does Bitcoin bring unless you live in a country like Venezuela?

>>29385561
Its purchasing power is measured in fiat because the value of everything in the world is measured in fiat. The purchasing power of gold is also currently measured in fiat, goldbugs btfo

>>29383716
>WHAT CAN YOU DO WITH CRYPTO?
>you can do everything you can with fiat but with self-sovereignty
>WOW YOU CAN ONLY TRADE FOR MORE FIAT
>fiat is just pegged to a rigged interest rates because of cheap money addiction, a consequence of relying on trust rather than letting the market decide
>WOW YOU CAN ONLY USE BTC TO GET MORE FIAT LALALA I CAN'T HEAR YOU


unironically kys OP

IM NOT LOCKED IN HERE WITH INFLATION

INFLATION IS LOCKED IN HERE WITH ME

>>29385561

A currency is what you use to transact for goods and services. It has no store of value. It doesn't have to retain wealth. Money has all of these properties and it also retains wealth.

It's also a lot harder to shave off $23.95 off a 1 kilo gold bar than it is to sell 0.00043 BTC

>How is BTC money when it's purchasing power is measured in fiat?

This doesnt make sense. Name me something that is not measured in fiat, that is used in our or any economy?

>>29385791
Tell us all exactly what do you use your BTC for then?

>>29386502
I use bitcoin for 24/7 trading something I can’t do with traditional markets

>>29386791

>>29383926
>>29384343

>be hungry
>go out to eat
>on your way to McDonalds there is a whale manipulated dip, so you pay triple
>that would be 0.000139838394 BTC sir

>>29383716
we printed 100% of the money supply this year

you fucking retard

>>29387355

>>29383967
ETH 's problem is incredibly simple, so simple that ETH maxis seethe whenever you mention it
Fees aren't the main problem
Decentralisation is.
>It is becoming harder and harder to run a full node on ETH and will become basically impossible for individuals and most corporations
>People and most companies, if ETH is still adopted, will need to trust full node operators that the network is running in a honest and clear manner
>You are trusting a third party to do what you can't do anymore since you can't run a full node
It is therefore not decentralised and cannot be.
This is why BTC is superior, running a full node is exponentially easier and people can verify their own txs for a true trustless decentralised network

Watch as ETH kikes refuse to adress this, call it FUD or try to shit talks to binance because they have no answer to it

Oh and something else, ETH had unironically a centralised group take decisions that affected it (Vitalik), like printing supply
It is also not a non inflationary scarce asset

TL.DR : ETH is a scam and will never be what VItalik says it is

>>29387355
>price fluctuates as you order
>next guy in line pays 0.0000000000145234 BTC

>>29383716
Bitcoin is nice but it will never be a reserve currency. People on here might wanna look into that, instead of jacking off to green line go up before there's a currency crisis.

>>29388505
This. The only chance it has of "toppling the system" is to become a reserve currency. But the only people who would be able to do that have explicitly stated that BTC doesn't work for them.

These arguments are so low IQ

You cannot even comprehend what the financial world will look like with Bitcoin taking over as a global reserve currency, which is why you come up with these stupid fucking scenarios.

The volatility of Bitcoin will cease to exist when it is a global reserve currency, once it is that big and spread out, the volatility is removed.

We’re still so fucking early in this it’s why you guys cannot comprehend it, and you know what that means? Huge signal that it’s still that’s still nowhere near over, that if you feel you’ve missed the boat then you can just read this thread, and you will realize you haven’t, even on /biz/ btc is still fudded with low IQs who cannot comprehend future scenarios without applying present day technicalities, now imagine the average normalfag, we’re still clearly in the early phase of Bitcoin.

>>29388775
>You cannot even comprehend what the financial world will look like with Bitcoin taking over as a global reserve currency
How will this happen exactly?

>>29383716
In the event of hyperinflation, when you can't tag a price on anything and fiat becomes useless, anything can become a currency. Be it BTC, Gold, soda caps, Tide detergent or laundry capsules like during the crack epidemic.
Now if you bought gold, you can't buy anymore in such a setting because remember : your fiat is worth nothing. You can only trade it for goods or services. Also, you won't buy a can of beans with a gold coin. It's not divisible. For other made up currencies, it's either you have some right now or you have to find a way to get some (in your case OP, sucking dick for example).

If you have crypto, not only you can divide it all you want to proceed a payment, but you can still trade it if such a thing is possible, allowing you to generate revenue.

Check out Flexa apps like SPEDN and then buy a shitload of AMP.

>>29383716
you fucking scum fuck retard SCUM

>>29388775
If you think the Chinese and Russian central banks are stocking up on Bitcoin to back their currencies with, you're the delusional one.

>>29388924
>BTC will suddenly become useful in the event of complete financial collapse, and not physical assets
Sure man.

>>29388924
You can buy a house with an ounce of gold in Venezuela right now.

>>29385662
>What improvement does Bitcoin
why don't you fucking read the white paper you absolute waste of oxygen

>>29389120
>complete financial collapse
You're confusing financial collapse and societal collapse

>>29389369
And you are playing semantics to avoid being wrong. The scenario you described does not suddenly make BTC valuable or give it a usecase. Especially considering the electricity costs associated with maintaining the network. It just means BTC is worth more now-useless fiat. We would go back to bartering for goods until we stabilized.


BTC uses .5% of the world's electricity in 350k daily TXs(thats the average)
To replace all daily CC TXs, would require 14x the world's electricity.

Explain how this will work.

>>29386502
drugs and cheese pizza

>>29383716
Btc won't be the future of currency since it's not "fucking idiot" proof. It's way too easy for non-tech people to mess up and lose their funds or send them to the wrong place. There's no safety or charge backs and the amount of responsibility needed to keep backups on your own is much more than the average boomer or normie has.

>>29383716
you can buy pretty much anything online with BTC these days. Don't be retarded

>>29390014
I don't get how delusional retards on this board turn a blind eye to this

>>29383967
The scaling solution is in the original bitcoin whitepaper, which I'm fully convinced literally nobody reads.

It states pretty clearly: bitcoin can scale infinitely by increasing the block size limit and pruning old nodes in the transaction tree.

Increasing the block size limit is a one line code change which requires a hard fork. Blockstream the company has dupped retards into thinking its impossible or not viable. It is perfectly viable and solves 99% of the scaling problems.

The node pruning stuff is more involved but could be done with effort.