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10609024 No.10609024 [Reply] [Original]

Bitcoin will fail, here is why. Institutional investors do not trust it. Normies think it is a scam. Business will never accept something so volatile. Most importantly governments of the world will never allow something that directly undermines their power.

It was a fun experiment, people got excited, but the writing is on the wall. Crypto will never survive.

>> No.10609040

>>10609024
slowly but surely, all your points will flip tables once enough adoption/number of masses agree on the tech being useful

Crypto will be used everywhere by 2020

>> No.10609041

>>10609024
>what is BAKKT

>> No.10609056

>>10609040
Heard this 2 years ago, and 2 years before that. It is a perpetual meme that crypto will see adoption in x years

>> No.10609066

>>10609024
Eventually some crypto will prevail. There's no way that in a 100 we would keep using fiat currencies issued and controlled by some central authorities. Trusting the code and avoiding tax is the inevitable future.

>> No.10609085

>>10609024
The jury is still out. I had high hopes for decentralized currency but am disappoint that it has moved to centralized miners and exchanges. Maybe someday it'll fulfill its true potential, but it's not looking great. Think of internet 1.0 vs the global panopticon that has turned into.

>> No.10609120

>>10609040
Less business take crypto than they did a year ago. The market is dying right before your eyes. Hell would have to freeze over for anyone to be using crypto in any serious way by 2020

>> No.10609131

>>10609066
dubs

And fuck you OP. Crypto has already won you numbskull. Now we are JUST haggling about the price and how the next breed of robber barons will be.

>> No.10609201

>>10609040
Do you even consider how society would get to a place where we always use crypto instead of the government fiat? If bitcoin is an official government invention, sure you have a point maybe. But for fiat to fail, governments need to fail. People need to not want fiat anymore. Banks will need to fail. All sorts of stuff. It might happen in a generation or two. But for now things are stable. People are still dumb enough to buy the story

>> No.10609227

>>10609201
Bank will work with crypto.
Sheeple will do whatever they are told.

>> No.10609315

>>10609056
>what is BAKKT

>> No.10609384

>>10609056
It took over 10 years for the internet to get used properly and for the services to make money

2-5 years for crypto is actually quite right just before 2020

>>10609120
Only the businesses that will stand the true test of time will continue to be adopted. Not shitty scamcoins that had their business plans set up around the price of $20,000 BTC and had no actual plan to make it in to the future if there was a bear market

>>10609201
It's a slow and steady process towards upgrading fiat into crypto (honestly won't happen for at least 5-10 years) and the crypto market itself becoming centralized so that the government can control it (think CIA big, think drugs and weapons big)

It's a big battle going on right now, but in the end, there's always a bigger fish so there is no way the people can be free with crypto by cooperating with the banks.
We have already decided on this. Anyone who hasn't just hasn't woken up to the fact yet.

>> No.10609406

>>10609024
Bitcoin will die. Crypto will not. XRP, or something like it, will become a household name and replace PayPal

>> No.10609411

>>10609041
>>10609315
BAKKT will never get approved. This is one of the biggest problems with the crypto market and why it will never work. Everyone hypes themselves about the next greatest thing, then it fails. ETFs get denied and everything crashes, but you people are so in denial that you latch onto the next big thing.

What do you think is going to happen to this market when the inevitable happens and BAKKT gets denied. Sooner or later you are going to run out of things to latch on to.

>> No.10609447

>>10609201
Governments ability to establish monopolistic tax will decrease drastically. They won't disappear, but they will become irrelevant, like religion is today.

>> No.10609461

>>10609411
>we have been in a bubble for 9 years now!

The fact that BTC is above $1 is amazing. Think deep about it, niggar.

>> No.10609462

>>10609384
Sounds like you are admitting that Bitcoin will never reach 20k again

>> No.10609474

>>10609406
And what problem does replacing PayPal exactly solve that would change anything? You haven't taken the red pill yet.

>> No.10609494

>>10609411
Crypto is a people's currency. It does not need permission to exist and will live even if your slave masters say it's dead.

>> No.10609500

All of the btc skeptics here are going to assblasted in the future. This is like people laughing at the guy who invented the the phone or those who laughed at jeff bezos. History will prove the doubters wrong.

>> No.10609534
File: 198 KB, 1336x234, screencapped.png [View same] [iqdb] [saucenao] [google]
10609534

Screen capped so I can laugh at this faggot when BTC goes to $100K

>> No.10609559
File: 247 KB, 1204x800, Communism.jpg [View same] [iqdb] [saucenao] [google]
10609559

>>10609494
Calm down comrade

>> No.10610018

>>10609462
how did you come to that conclusion from what I said?

Bitcoin will forever be internet gold.

>> No.10610043

>>10609534
I look forward to handing you change on the street corner.

>> No.10610095

>>10610018
>business plans set up around the price of $20,000 BTC

Why would this be an issue if BTC is going to be so much more? The fact is that they only fail if BTC never hits it again. Its almost like you got so close to comprehending the inevitable failure of bitcoin, but are still surrounded by denial.

>> No.10610124

it only needs to be big enough to sustain a high enough price to sustain a high enough hashrate to be safe from an attacker that would attack it (which is never economical and so would have to be either politically motivated or a blunder)

>> No.10610183

>>10609024

They said all of this about the internet in the ‘90s, too. Fuck, I remember some mainstream economics reporter saying that the internet had peaked and “was proven to be nothing more than a high tech vending machine with minimal impact on the economy” back in the mid-2000s.

>> No.10610254

>>10610183
>implying
Crypto is not the fucking internet. The internet is how crypto is transacted.
To say that each coin is like a dotcom is a more apt and realistic comparison.

>> No.10610270

you don't need to trust bitcoin Lmao that's the entire fucking point!

>> No.10610322

>>10610095
I should have been more clear. Those business plans eventually sold at the bottom because they thought it was going to crash to 0

point being, those scamcoin companies weren't prepared in the first place

This has no bearing on the actual companies and the actual adoption taking place today

>> No.10610378

>>10610183
https://www.google.com/amp/s/www.newsweek.com/clifford-stoll-why-web-wont-be-nirvana-185306%3famp=1

>> No.10610481

>>10610183
No, this did not happen. Other than a few contrarian outliers, everyone loved the internet. I remember watching an episode of Beyond 2000 where they were wanking out over this world wide web thing. Crypto is nothing like the internet and all the financial experts know its going to fail.

>> No.10610517

>>10610378
Everyone posts this single article. If it is so prevalent show me a ton of them. They shouldn't be hard to find if it was so common right?

>> No.10610532

For the internet all the smart nerds knew it would be huge one day and the retarded normies who doubted that it would. For bitcoin its the reverse, all the really early developers and profs already shunned it and all thats left are scammers and deluded moonboys.

>> No.10610606

>>10609024
Yeah idk it might fail for you but there’ll always be a niche use case for it.

>> No.10610613

>>10609474
nothing changes, except everything is now on a distributed ledger

>> No.10610814

>>10609024
No shit and it suffers from too many security problems. Normie dont have the time to secure their bitcoin accounts carefully.

>> No.10610954

Everyone in this thread is butthurt that crypto is going to be big without them.lol If the West doesn't want it, then Asia will take it. Bitcoin is going to 100k even without ideal conditions because market manipulators want it to. And for those who think it'll be a slow transition get the fuck out of here. Theres so much fucking money in this world that you cant see its going to explode past 20k because your sheep ass hasnt seen real gains in 50 years.

>> No.10610975

shit man you're right… just market sold 100k

>> No.10611010

>>10609024
>Normies think it is a scam
Hasn't been a problem in the past. It just takes JPM or GS to securitize it and normies will invest their life savings into it.

>> No.10611022

>>10609024
Well if you're talking about Bitcoin as in Bitcoin Cash as BTC is no longer bitcoin, then it will not fail. If you're talking about BTC shitcoin then yeah it will fail but not because of your reasons

>> No.10611026

>>10609024
>Business will never accept something so volatile
A Visa/Mastercard transaction loses 3% of its value instantly.
>Most importantly governments of the world will never allow something that directly undermines their power.
True, but there will still be a market

>> No.10611044

>>10609024
sell now faggot, short it. Show positions and join the bitcoin is dead for the 746th time gang.

It's not going to happen people have literally been saying this for 10 years

>> No.10611629

smart contracts will solve the issue of payments with this volatile asset

>> No.10611650

>>10609024
u real dumb nigga

>> No.10611764
File: 277 KB, 1692x1167, roller.jpg [View same] [iqdb] [saucenao] [google]
10611764

>>10609040
How can you talk about universal adoption of a currency that's lost 10% of its value today alone? And which loses or gains 10% of its value in a day at least every other week?

Most people much less businesses are not okay with accidentally losing your entire profit margin in a transaction because you used the exchange rate from 45 minutes ago.

>> No.10611772

>>10609066
society literally doesn't function without taxes
luckily governments already know how to catch bitcoiners, since your shit is on a public ledger.

>> No.10611800

>>10609024
it literally cant and wont fail. our modern times demand it. witht he rise of the internet, and it being global, we need a global currency that functions along with it. also, people demand instant transactions. people are tired of waiting 2 or 3 days for funds to transfer from banks to their accounts, etc., processing times. people want control over their own money, and that time is coming.

>> No.10611846

>>10611800


Dude i pay for shit instantly by wiping my phone over a console. We already got digital payments that are instant.

>> No.10611864

>>10609411
>BAKKT will never get approved
what is gov lobbying

>> No.10611869

>>10609024
[literally any new financial innovation] will fail and here’s why. Investors do not trust it. Normies think it is a scam. Business will never accept something so volatile. Most importantly governments of the world will never allow something that directly undermines their power.

It was a fun experiment, people got excited, but the writing is on the wall. [innovation] will never survive.

>> No.10611952

Absolutely pointless thread
Most of the people bought in during November-December and barely know anything about tech of crypto. Not to mention lack of general computer science knowledge. Without competences in both fields your opinions don't matter, zero. You don't know what you're talking about.