/biz/ - Business & Finance

Bitcoin is definitely in a bubble. You have to be deluded not to think the "normies" are in. When 2% of Americans have already held Bitcoin.

Certain smart contract related coins? Arguably not in a bubble.

I CANT CASH OUT

>can you buy...
Yes I can. I pay exactly like I would with my debit card.

>>4610086
>sell some for cash
>buy groceries, gas, clothes (alternatively find someone willing to accept btc for these items
>????
>profit!

>>4610086
>>What can you buy with it? Groceries, gas, clothes? No ..? Then it is worthless.

I guess gold is worthless, real estate, pretty much all assets are worthless...

>>4610086
>Sure it is currently trading at 9600$ right now. That does not mean it has value though.

It has value, it's 9600$

>>4610152
You are using cash to purchase those commodities, not bitcoin.

Hey Anon, why don't you goto the shop and buy some milk with gold...
Wait you cant do that, i guess gold is worthless...

>>4610183
and I use bitcoin to buy stuff online, not cash. What's your point?

>>4610175
Go to your nearest car dealership and buy a car worth $9600 - try to pay the car salesman with one bitcoin. Please.

>can't buy clothes
https://www.overstock.com/
>can't buy groceries
Whole Foods gift cards through Gyft
>can't buy gas
Shell gift cards through https://coinfuel.io/

>>4610206
You're cute.

https://themerkle.com/buy-a-lamborghini-with-bitcoin-in-newport-beach/

I can buy a kilo of coke on the darkweb

>>4610086

Let me guess. You're about to say BCash is the "real Bitcoin"...

>>4610218
Be honest anon, do you really use your BTC for those things?

>>4610201
Let me tell you about gold money dot com

>>4610167
>>4610201
>Trying to compare bitcoin with gold

Bitcoin is a digital currency that could permanently disappear tomorrow. Gold will always exist. Gold is real. Bitcoin is not real.

>>4610201
You think they would reject gold? Christ you're really deluded.

>>4610236
No, I do use my BTC for amazon purchases though as if you use Purse you can usually get at least 15% off. Just be sure to rebuy that amount of BTC.

>>4610228
OP doesn't have faith in crypto at all, you dolt.

>>4610257
>could permanently disappear tomorrow

Good luck with that.

>>4610281
>asteroid hits earth
It's that simple.

>>4610257
The illusion that gold has value could also disappear.

The main value behind bitcoin is the network effect / community. That won't disappear overnight.

Combine that with the benefits - truly scarce, impossible to seize,etc - and you have a winner.

>>4610322
>The illusion that gold has value could also disappear.
Prove it faggot. I'll prove whatever stupid shit you say wrong. I dare you.

>>4610292
>>4610281
>>4610322

All it takes is a large scale internet outage and Bitcoin will be gone forever.

>>4610261
How much do you pay in transaction fees for that? This is total bullshit and you know it.

Its mostly newfags that are buying this "tech doesnt matter its all about store pf value" meme. Back in 2013 we were all excited about BTC's colored coins project which was the closest thing to programmable money back then. Now all you newfags are doing is defending the shitty tech that has not changed.

Ethereum is the closest thing there is to BTC's colored coins. BTC right now is nothing but a ponzi.

>>4610257
>Bitcoin is a digital currency that could permanently disappear tomorrow.Lmao, you are too fat at this point. Bitcoin will not disappear, since nobody controls it, sure it can "disappear" in a sense that if most users drop it, it'd crash and become useless. It is possible, but many believe that speculators riding the hype train did drive bitcoin past the point, where complete abandonment is likely.

>>4610322
unless humans are erased from the earth, gold will always have value.

you nigger.

>why everything gotta cost money: the post
kill yourself marxist scum

>>4610369
Wrong. Gold has value everywhere in universe where a civilization exists.

>>4610086

book first class flights on expedia for example retard

>>4610086
No coiner

>>4610086
You can do all three
Groceries
>https://www.forbes.com/sites/rakeshsharma/2014/02/11/use-your-smartphone-to-buy-groceries-in-bitcoins/#3d06a2f3ae28

Gas
>https://bitcoinmagazine.com/articles/paying-bitcoin-gas-pump-1398810681/

Clothing
>https://www.overstock.com/bitcoin


That still doesn’t mean it has value though. Only purchasing power. Much like, you know, the US dollar.

bitcoin is worthless because its can't even do the very thing it was meant to do. this coin only serves as an entry coin to better coins

>>4610086
An EMP attack could cripple bitcoin and ruin it forever

But then again, a mass EMP attack would destroy USD fiat as well.

A mass EMP attack would cause me to worry about a whole lot more than the value of USD or Bitcoin or any money.

Just always make sure you have enough spare WATER, DRY/NON PERISHABLE FOOD, BATTERIES, LIGHTERS/MATCHES, and SHELTER on hand to last through at LEAST a couple weeks if needed. That's what will be important in a true loss of internet/power for extended period of time.

>>4610364
The only way that would actually matter is if the internet was shut down for good. If that happens you're problems are much larger than monetary and gold won't help you.

The patrician portfolio contains bitcoin, guns, ammo, food, and medicine.

>>4610413
This

>>4610364
No.. blocks would simply stop being added to the chain. Chains could also possible continue separate from each other (if the global network is disrupted). Once things are reconnected the chain with most work would take precedence.

>>4610414
What are people doing to get other coins
>exchanging
>paying for something
Huh almost like it’s a currency or something

>>4610364
>All it takes is a catastrophic event and it'll all be over!
You really showed us

cash out and buy with cash. takes 20 min with PayPal and coinbase.

>>4610086
You can buy a lamborghini or a house.

But you have fun with your fiat shopping at Lidl.

>>4610259
Yes they would. In fact it is much more likely that a shop accepts crypto than gold.

>>4610366
Most has been $10 a couple months ago. This is why you make large purchases
>Its mostly newfags that are buying this "tech doesnt matter its all about store pf value" meme.
I haven't said that, not sure why you're assuming I think this. It needs to get better, if even half the people in crypto were actually using it for its intended purpose everything would be entirely falling apart.
>BTC is nothing but a ponzi
This is a bit much though.

>>4610413
I hope you enjoy eating Subway 3 meals a day and only being able to purchase gas and clothes from one or two retailers.

>>4610259
>goes to grocery store
>puts $100 worth of groceries in the cart
>hands the cashier $100 worth of gold
>casher says "fuck no"

>>4610456
nah.
the whole point of e-cash is to have the ability to compete with electronic fiat on the same level, while keeping yourself hidden from authorities.
as of now the barrier of entry to crypto is pretty high and the fees/cost is too big

>>4610502
>implying we are currently in the end state

>>4610086

Faggot what can you buy with gold or silver? You buy your local FIAT currency stupid fuck.

>>4610502
>converting to cash for purchases at a brick and mortar store like a caveman is impossible

i pay ALL my bills, utilities and groceries with Bitcoin. absolutely everything.

>>4610540
Our coins which we use for currency have gold and silver in them numnuts. You use gold and silver to make purchases everyday.

>>4610204

Debit cards, PayPal and many forms of electronic transfer exist. All I ever hear about with bitcoin is it is "secure and decentralized", but ironically your money is more insured against theft or fraud by dealing through a normal bank or company that deals in payments, and everybody is always talking about who in the crypto world is manipulating currency or trying to steal your money.

>>4610355
You're in a desert, what good is an ounce of gold for?

Gold acquires value in an advanced, trade based economy.

Bitcoin acquires value in a digital, fiat scam economy

In order to make bitcoin worthless we'd have to go back to a time where bitcoin wasn't possible.

>>4610502
I gave you what you asked for, then you changed the objective of the discussion. What am I to do now, list more retailers? You'd still come up with a reason why they're invalid.
You said you couldn't buy XYZ with it. I gave you examples of places you could buy XYZ with it.
Nothing left to discuss

>>4610086
WAGEKEK IS TALKING, GO BACK TO WORK YA FAGGOT.

>>4610613
holy shit you have absolutely no idea what you're talking about, you're fucking stupid I know that for sure.

>>4610601
No they don't

>>4610613
Bitcoin is unironically more secure than Fort Knox.

>>4610601
There are no US coins in circulation that contain gold or silver. All copper, nickel, and tin now. The dollar coin has zinc and manganese though.

>>4610642
I will be laughing the day you kill yourself when the Bitcoin bubble bursts. Keep spending real money on computer pixels.

>>4610688
>>4610708

I'm not American. This is why I am not stupid enough to fall for the Bitcoin scam.

>>4610580
Very stupid. How does it feel knowing that your utility payment for last month has gone up 50%?

>>4610086
Hey Faggots, My name is Peter and I hate every single one of you. All of you are fat retarded no-lifes who spend all day staring at crypto currencies.
You are everything wrong in this world. Honestly, have any of you ever made any money trading? I guess its fun pretending to be apart of the 1%ers like me all day but this is worst than jacking off to pictures on Facebook

Don't be a stranger just hit me with your best shot, i'm pretty much perfect. I am CEO and chief global strategist of Euro Pacific Capital Inc,CEO, and chairman of Euro Pacific Asset Management, LLC , I also am founder and chairman of SchiffGold, a precious metals dealer based in Manhattan. What companies do you run ? other than jack off to the crypto currency on all day LLC ? I also have a banging hot girlfriend she just blew me (Shit Was So Cash)
You are all Faggots who should just kill yourself, Thanks for listening.
Pic Related: Its me and my bitch

>>4610086
>What can you buy with it? Groceries, gas, clothes? No ..?

Actually... check, check, and check. But, no, anyway.

>>4610737
You can't do a single google search for "US Coins metal content" before posting though?
Your points are getting a bit rekt and you just shift the argument every time it happens

>>4610668

You sound perturbed

>>4610688

That's dumb, Fort Knox is a bunker with a military around it and a great track record. Bitcoin nearly collapsed when people lost millions from a rogue exchange only a couple years into its life.

>>4610509
>pay with gold
>cashier has to get out the scales
>everyone behind me in line hates me

This is all a moot discussion anyway since you can't cash out Bitcoin to fiat even if you wanted to.

>>4610244
Dude if you goto the store with $2 worth of gold and try buy milk with it, I think they'll tell you to fuck off.

>>4610844
>cashier pulls out a pick and bottle of nitric acid

>>4610565
>converting to cash
Oh fuck, you haven't heard, have you? I'm so sorry.

>>4610668
How deep are you to keep convincing yourself that bitcoin won’t be worthless in a few years? It is just another tulip mania. Once big banks lobby to kill it or acquire it, devaluation will occur if they are not the major holders. Economics are not the only factor to consider, politics is a major influence. Investment firms fire financial managers for speculating in the cryptocurrency market.

>>4610086
What a poor mindset.

>t-this doesnt have value because i can buy food food or gas gas for muh wagecuck job, how can get to wagecuck job if not buy gas with bittlecoin??

>>4610257
Are you saying all crypto is worthless?

>>4610933
Yes. Cryptocurrency is not real currency. It is inherently valueless.

>>4610257
Neither is the fiat money in your bank money. That's not real either. At least with Bitcoin, money can't be duplicated, can't be stolen (if you're above double digit IQ) and wouldn't be subject to inflation or panic the same way fiat would be. There are certainly reasons why crypto would fall flat on its face but hardly any of the things in the world that would adversely affect fiat can affect Bitcoin the same way.

>>4610122
2% of adult americans isn't a lot.

>>4610086
Yes i buy food, power, train tickets, rent, houses with it. Right now.

>>4610086
i bought more money with it later on

>>4611025
Real currency can cease to exist over night.

What's your point?

>>4610086
I unironically can't envision a future where crypto currency isn't the main supply of money and where the unsustainable fiat banking system doesn't collapse. I'm 99% sure this will happen in our lifetime.

>>4610150
then why not just use a debit card?

>>4611147
How so, the 20 dollar bill I have in my wallet will always be in my wallet, even if the electrical grid was shut down.

>>4611147
Existence isn’t the argument, it’s value.

FUN FACT: In my country you can cash out ETH exclusively (and it's super easy to do), everything else cannot be cashed out directly

>>4610086
OP's face when bitcoin crossed 9k.

>I don't think bitcoin is worthy anything.
Reality disagrees with you faggot.

Easy trolling more or less makes you an autist. Congrats on this. Seriously.

*buys drugs with btc*

>>4611198
https://www.google.com/amp/s/www.dawn.com/news/amp/1310517

Nope. The government might accept it but good luck trying to get some fuck tard in the treasury department to switch it out.

>>4611199
And there are legal tender bills that have no value right now.

>>4611249
It’s honestly hard to tell if this is true retardation or mere pretending
>>4611280
Yet another banking problem solved by blockchain