[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 561 KB, 860x758, bobopepe.png [View same] [iqdb] [saucenao] [google]
18736392 No.18736392 [Reply] [Original]

How can Bitcoin reach $100k plus if it can't even scale?
>muh it's digital cash
But it can't achieve low fees and near instant transactions like VISA/Mastercard?
>muh it's digital gold meant to be held
But it doesn't have any real value?
>muh supply/demand dude there can only be 21 million bitcoins
What does it matter how many there are if there's no real big demand for them?
>dude you can send money cross border without a middle man!
So it's main usage is for criminal purposes which should justify its market cap of $100b+ even though only about 1% transactions are for criminal purposes?
>DUDE DON'T YOU GET IT THE FEDERAL RESERVE DUDE FIAT MONEY BITCOIN IS GONNA TAKE OVER THE FIAT MONEY SYSTEM THAT ENSLAVES US WITH INFLATION DUDE
But it can't scale?

>> No.18736463

Finally, no Bitcoin boomers left on this board

>> No.18736466

>>18736392
it scales on layer2. layer1 is for different purposes. each layer has a different level of security.

fiat has no real value too. the value comes from the properties it has, just like gold has properties.

no printer means nobody has control over it.

its main usage has shifted to a SoV, it might shift again, see venezuela

>> No.18736485

>>18736463
too early

>> No.18736848

You haven't heard of Blockstreams private Lighting network aka. Liquid?
- Sidechain of BTC
- Fast confirmations (< 2 min)
- Optional: hide Transaction amount
- Tether is already on Liquid
- Many other stablecoins

le btc cannot scale meme is dead now

>> No.18736955

>>18736392
>So it's main usage is for criminal purposes which should justify its market cap of $100b+ even though only about 1% transactions are for criminal purposes?
agree with everything else you said, but this might actually be unironically true

>> No.18737097

>>18736848
- Fast confirmations (< 2 min)
Dude just wait 2 minutes for your contactless payment to go through

>> No.18737261

>>18736392
>it has no use case
it's western union 2.0
>its meant to be digital cash
satoshi wasn't as smart as he thought he was. his creation cannot ever be digital cash.
>it's digital gold
in a way it is. it has intrinsic value being an efficient money transfer system and PoW is secure enough that people trust it so that gives it value.
>it's main use is criminal shit
no one cares.

>> No.18737354

>>18736392
That’s why there’s something that exists called eth

>> No.18737544

Yeah BitCoin scales , but core does not

>> No.18737594
File: 37 KB, 245x174, 20200428_164935.jpg [View same] [iqdb] [saucenao] [google]
18737594

>>18737544
there is one left

>> No.18737596

>>18736848
>fast
Crypto will never be “fast”. VISA is fast. Trying to make crypto Every-day transaction-able like my 50+ year old transvestism prostitution brothel fetish, is never happening

>> No.18737609

>>18737097
faggot. you can send millions and millions worldwide in like 2 minutes. you can't do that with your bank.

>> No.18737629

>>18737261
>no one cares
Holy shit a fucking federal agency just flew over my home on their way to yours

>> No.18737795

If we switched from fiat to bitcoin jews would just be replaced with bunch of spergs who bought at pennies and hold control over the market. No real change desu

>> No.18738217

While bitcoin might or might not be it, there will come a time that digital currencies are the new norm a

>> No.18738320

>>18737261
I'm saying the "intrinsic value" is greatly exaggerated if it's basically only used for criminal purposes currently which make up roughly 1% of the transactions. Almost 99% other transactions are just buying bitcoin on exchanges and sending to a wallet or vice versa.
>Western Union 2.0
Why should I use Bitcoin that might drop 10% suddenly and is hard to withdraw to fiat over TransferWise which is near instant in the first world? Tell me what kind of people will be sending large amounts of money cross border with Bitcoin? Mostly criminals.
>>18736848
Yeah right, lightning has been a meme for years

>> No.18738856

>>18736392

The answer to 4/5 of your questions is that it's not cash and doesn't need to have instantaneous transactions to be successful. It's gold; it's a hedge against fiat and the markets. That's all it has to be.

Its trustworthy scarcity makes it valuable. Nor does gold have any inherent value other than its scarcity. Besides, its valuation is already proof that you're wrong. The entire market disagrees with you. Learn to use your apostrophes also. It's annoying correcting you on your writing in addition to your thinking

>> No.18739117
File: 63 KB, 658x507, 1586692088537.png [View same] [iqdb] [saucenao] [google]
18739117

>>18736392
BTC is mostly irrelevant. When talking about BitCoin, you should be talking about BSV. All BTC has a is name, which it will lose in the blink of an eye. Meanwhile, BSV scales and everything BTC does well it does better, plus it has more features.
It's even run by someone who in the eyes of a bunch of loudmouth smoothbreains is a complete scammer and and even their cries aren't killing it. Really activates the almonds.

>> No.18739191

>>18736392
what i don't get is the whole point of btc is to be decentralised yet most of the miners are massive farms in china?