/biz/ - Business & Finance

[Anonymous No.2058119]

So bitcoin .. is it actually going to die?
I've put off buying it for months, and it refuses to stop going up despite the outdated tech. I assume its "too big to fail" at this point

thoughts?

[Anonymous No.2058129]

>>2058119

everyone thought the same about myspace
myspace even thought they could get away with updating their website and would attract the people that left for facebook back
that never happened
bitcoin will eventually die for something better
will it be litecoin? I don't know..but some coin will eventually become the go to coin of all coins.
Only time will tell. I think by 2020 Bitcoin will be in our memories.

[Anonymous No.2058234]

>150k unconfirmed transactions

Yep it's fucked

[Anonymous No.2058250]

>>2058234

so what happens next? does litecoin take over? is there going to be a push to use litecoin or some other coin?

[Anonymous No.2058265]

>>2058119
the outdated network doesn't support enough transactions per second to go out in a massive fireball

it will die a slow, painful death due to the core devs and miners refusing to come to a consensus, with ethereum taking its place

[Anonymous No.2058268]

https://www.youtube.com/watch?v=AEt9BqfhxPo

yeah litecoin is fast

[Anonymous No.2058489]

Bitcoin is a system that securely holds 30 billion dollars. The best people in the space are working on it. Scaling problems are not only normal but inevitable for any platform that becomes popular. Don't listen to anything these fucks are saying.

[Anonymous No.2058503]

>>2058489
this

bitcoin has always been the defacto stanatard crypto currency and it wont be changing anytime soon

[Anonymous No.2058517]

>>2058268
that's pretty fucking neat

now if only it weren't cheap too

[Anonymous No.2058530]

The only reason bitcoin hasn't died yet, is because of the massive altcoin market

Bitcoin is relying heavily on altcoins at this point, no one uses bitcoin for anything else, its too slow, absolutely retarded fees that exceeds bank transfer fees at certain amounts to be used as normal payment transfer, its a hedge at this point, a safe haven for your altcoin gains, but even that's beginning to change

It will die horrible one day, and something WILL replace it

the question is just what and when

[Anonymous No.2058545]

>>2058530

I will only believe this when one day I see another coin surpass bitcoin's market cap and hold it for more than a week without shitting itself.

[Anonymous No.2058555]

>>2058545
and what coin do you think would it be ?

[Anonymous No.2058560]

>>2058234

unconfirmed, slow Tx is caused by senders that don't pony up the Tx fee, so miners have no incentive....The Tx fee has been going up with difficulty, but some software never adjusted for this and so are putting Tx out there that are going to sit there without a miner's fee attractive enough to work it.

you'd think an exchange would do this. But no, it varies. Check the block explorer Tx fee. Coinbase usually puts 0.0004 fee on which is industry standard. 5 months ago, it was 0.0001. But some exchanges, the shit exchanges, dont even bother, when sending Tx out. There is no skin off their backs to acknowledge the increases and just tell the customer, but thats what you get for dealing with Russians. Nickel and dime you on every fucking Tx. They actually told me to use an accelerator service. I told them to post the proper fee, not fuck around with me. It took 24hrs

When you post a proper fee, the transaction times are about 10 minutes for me. With ETH, I don't know how it works but sometimes I wait a long time for the block to get completed.

[Anonymous No.2058567]

>>2058555
Ethereum is the likely successor

But Ripple and Xem might also do it

[Anonymous No.2058568]

>>2058119
>. I assume its "too big to fail" at this point

yes, but no. It needs to correct to its trend line. It will drop to $1200 at least in the next fortnight. Then is your perfect time to buy.

BTC is an outdated shitty coin, but It is still the biggest due to household recognition. It will fail, but not yet, and not this year. Just like how McDonalds sells shit burgers but its still huge. BTC will grow for the next year or two.

[Anonymous No.2058570]

outdated tech?

you dont even own any and you say that? this is practically prenatal care. I hand it to you that BTC could end up being AOL but it's not even the booming era of being AOL yet.

It might not even crash and burn, it might just become a legacy currency for holding wealth, expensive and slow like gold. Someone might continue to figure out how to make it scale better. No one knows how this will play out, but its taken years to get to this point and it will take years before it's over.

[Anonymous No.2058573]

>>2058555
Given the fact that none of em's gotten even close I'd say it's anyone's guess at this point. ETH is not even in the same market as Bitcoin. All other alt coins are a joke compared to it at this point.

[Anonymous No.2058575]

>>2058545
>I will only believe this when one day I see another coin surpass bitcoin's market cap

and by then you will be too late. You should be looking for Bitcoins successor right now.

[Anonymous No.2058588]

>>2058570
>outdated tech?
>you dont even own any and you say that?

You don't need to own any to say that. BTC transaction fees and transaction waiting times are fucking awful. Who the fuck wants to wait more than 20 minutes to transfer digital currency? A fast transaction can be almost a dollar in fees now. Its bull shit.

Bitcoin will Die. The question is when.

[Anonymous No.2058592]

>>2058575
I may be, but at least I won't lose all my money speculating on alts when it's so early. I'm not saying that certain alts are not worth getting into but simply that Bitcoin is not going anywhere anytime soon if at all.

[Anonymous No.2058604]

>all these misguided faggots who think BTC will ever die or fall from it's dominant spot in crypto

you're all retards who have been trading alts for a couple of months and now you think you know everything. You're all fucking retarded and I'm going to thoroughly enjoy watching you all lose a lot of money

[Anonymous No.2058627]

>>2058592
>I may be, but at least I won't lose all my money speculating on alts when it's so early.

Its never too early. you need to be early to get the big profits. Luckily you are aware of this at the dawn of Crypto currency so you have a chance. But don't wait too long to get in the water. Or else BTC's successor will have exploded before you've even bought any.

[Anonymous No.2058634]

>>2058604

You're the retard here. You think BTC will be king forever? You're Fucking delusional.

[Anonymous No.2058646]

>>2058634

I think alts are basically bitcoin in 2013 at this moment and are way, way overvalued relative to their actual adoption and use for things other than complete degenerative speculation.

I'll probably pick up some ETH at 25 bucks and lower when these faggots panic sell them to me in a couple of months.

[Anonymous No.2058651]

Big BTC holders are pumping the price even further to stimulate the market and slowly cash out to make a downhill look like a plain.

Guess what happens then

[Anonymous No.2058656]

>>2058604
its not that bad. After all ,these simpletons ended up giving bitcoin more power from their failed alt/scam coin trading.

Im going to enjoy the day that i will buy my rolex straight cash while these retards are stuck wage slaving

[Anonymous No.2058683]

>>2058265
nah, litecoin. no one wants garbage eth.

[Anonymous No.2058696]

>>2058567
not likely. no one wants your big bank scam coin.

[Anonymous No.2058703]

>>2058119
it will stay strong for the fact that governments need to pick a coin and stick with it.
Japan can't switch which coin is legal or not all the time.

[Anonymous No.2058734]

One day it will just keep dwindling down due to scaling problems. Then one the price drops so low they will finally reach consensues to fix the issues and then the price will explode. Repeat times a million forever and ever when they hit a roadblock.

[Anonymous No.2058735]

>>2058703
It will also stay strong for the simple reason it takes an act of god to change it in any major way. Resistance to manipulation is what it has and alt coins lack and that makes it a highly effective long term value storage.

[Anonymous No.2058782]

>>2058683
lets see, either smart contracts, or bitcoins retarded little brother, hmm...

[Anonymous No.2058784]

Bitcoin will stay on top until another coin becomes the default currency everything else is priced in or becomes the go to method of getting liquidity on to the funny money exchanges.

[Anonymous No.2058790]

>>2058735

Longest, oldest chain. Thats huge value. Thats why it has quad digit price and huge market cap balls

[Anonymous No.2058804]

>>2058784

I don;t think it will be replaced even on the willdebeest dreams of some eth or ripple fantasists.

Other coins might reach market cap parity, inevitably. But they will be more volatile until they have 10 years of history behind them and by that time bitcoin will have 20

In the future there will be a lot of big market cap coins like there are a lot of big market cap fiats, there will be an ecosystem, and in that ecosystem Bitcoin is going to be very valuable... there isn't going to be "dominance" (I really don't like the word)

[Anonymous No.2058840]

>>2058804
It will likely never go away unless it massively loses support, but its importance will wane until it ends up being a hipster coin that people have in their wallets/accounts just to say they hold some of the original big boy. The price may be sky high due to rarity, but it won't mean anything when the daily volume of another coin(s) blow it out of the water.

[Anonymous No.2058854]

>>2058489

this. Bitcoin is not ''outdated tech'' at all. Bitcoin is industry leader and SegWit / LN is inevitable on BTC.

[Anonymous No.2058873]

>>2058840
That's like saying gold coins don't mean anything because they don't circulate nearly enough as the us dollar. Bitcoin is on track to establish itself as a reliable and solid storage of value next to gold.

[Anonymous No.2058891]

>>2058782
people want a currency. btc/ltc actually do that incredibly well. no one cares about an animation program that no studios will adopt.
no one wants your big bank scam coin, bitch.

[Anonymous No.2058901]

>>2058703
best post.

[Anonymous No.2058908]

>>2058891
>people want a currency.
what is raiden network, which will be released before lightning network
>no one wants your big bank scam coin, bitch.
you mean ripple

[Anonymous No.2058914]

>>2058129
Even dogecoin is still going and its number 14 in market share,bitcoin isnt going to die 100% for a very very long time.

Everyone in crypto should have the majority of their holdings in BTC.

[Anonymous No.2058916]

>>2058873
Gold coins don't mean anything aside from being a scam Fox News runs on old people or people fucking around with slips of paper representing a bunch of the shit sitting in a vault.

[Anonymous No.2058922]

>>2058651
/thread

[Anonymous No.2058931]

>>2058908
lightning came out today on ltc. only a matter of time before it's on btc. eth was sold to huge companies (and banks) first. no one wants your big bank scam.

btc is a decentralized, deflationary currency. done.
saying eth is the future is like saying Linux is better than Windows. maybe it is, but literally no one gives a fuck because Windows does more than enough for what people actually want to use a computer for.

[Anonymous No.2058941]

>>2058931
>only a matter of time before it's on btc
yeah, just as soon as maxwell and lukejr kiss and make up with JiHan

[Anonymous No.2058948]

>>2058916
>999 gold coins are scam

wut.. What the hell does Fox News and sheets of paper have to do with holding physical gold. Coins are the most convenient way of holding physical gold if you don't want to get raped by inflation in a couple of years.

[Anonymous No.2058967]

>>2058119
The problem with most of the autists on here is that to them they make the seemingly logical assumption 'better tech = more value'.

Bitcoin seems to have found its niche as a store of value outside the current monetary system, a bit like gold.

95% of Bitcoin users aren't interested in using it as a currency just like 95% of gold holders aren't interested in dragging a bag of gold coins to the grocery store.

Bitcoins value now comes from its relative stability, liquidity and reliability as a long term store of value. Not from it being fast or low transaction costs.

[Anonymous No.2058978]

>>2058967
Excellent summary!

/thread

[Anonymous No.2058995]

>>2058967
way to copy my fucking post
>>2058931

[Anonymous No.2059033]

>>2058948
Except everyone selling you gold coins is doing so at a premium to the actual price of gold, and the only ones buying them are doing so at a discount.

If you're trying to protect against inflation, there are better vehicles out there than hoarding a pile of gold like your Conan the barbarian.

[Anonymous No.2059054]

>>2058967
you're right but there comes a point where it does affect the stability, liquidity, and reliability.

[Anonymous No.2059059]

>>2058967
>store of value

It's volatile as fuck but I agree with your general position

Bitcoin is Gold, ETH is Silver, Altcoins are conflict diamonds

[Anonymous No.2059079]

>>2058119
>despite the outdated tech
nothing outdated about its tech, stop falling for memes

[Anonymous No.2059099]

BTC is becoming the digital gold everyone is talking about. Chinese, Indians and many rich people all around the world store their wealth in BTC because their givernment at any moment can seize their assest and BTC is the only real safe haven.

BTC is not going anywhere, I suggest yiu all have at least 0.1BTC or get fucked when BTC goes go 500k

[Anonymous No.2059115]

>>2058908
>what is raiden network, which will be released before lightning network
lmao stay delusional eth cuck, the eth developers keep saying "we'll release it next month" and never deliver

[Anonymous No.2059127]

>>2059115
you'd know a lot about features not being delivered, wouldn't you?

[Anonymous No.2059154]

>>2058489
No, the best people are working on ETH. Get your head out of your ass before it's too late.

[Anonymous No.2059159]

>>2059154
> "All the banks are using modified versions of Linux on their servers!!!! Invest in Linux!!!!"

[Anonymous No.2059198]

>>2059154
>comparing ETH to Bitcoin

[Anonymous No.2059984]

Costs $7 in fees to withdraw from polo. No joke check your transactions on blockchain.info

[Anonymous No.2060002]

>>2058914
>Everyone in crypto should have the majority of their holdings in BTC
Can the same 3 people stop shilling this bullshit idea. Do you keep over 50% of your net worth in iPhones? No, didn't think so.
Bitcoin will be dead by 2020.

[Anonymous No.2060019]

>>2059059
If anything, ETH is oil. ETH is not in competition with bitcoin.
And bitcoin sure as shit isn't gold. More like mercury: it looks cool and is fun to play with, and was very useful once upon a time, but now it's worthless.

[Anonymous No.2060021]

1MDa4VxiQyFwuo3aRfyniJ6ppfX5fjEn7r

Can use some btc of you think it's dying

[Anonymous No.2060035]

>>2059159
Comparing the bitcoin-ethereum relationship to windows-linux is fucking retarded. Both might be technology related, but it's completely different.

[Anonymous No.2060189]

>>2059154
ETH might be a big crypto area, but it has nothing on BTC. BTC was the first, it has the most research done on it in the field, and it has by far the most USD value of any kind of crypto.

BTC might have growing pains, but it will expand.

[Anonymous No.2060287]

I fucked up bad this month, just started living on my own and I have no money for food or gas. Pls someone help with a Bitcoin so I can buy some groceries

342jPdP9vyKA6MjoqpBXXRH2ijjAVWMvSr

Pic related it's my bank account atm...

[Anonymous No.2060323]

>>2060287
pls help anons

[Anonymous No.2060448]

>>2060323
Shameful bump

[Anonymous No.2060473]

>>2058568

Anon.

I have been waiting for this fucking dip for 2 weeks now. Do you know how it feels to wake up to $1400, $1500, $1600, and now $1700? Do you even fucking know how it feels?

Shitty. Really fucking shitty.

Now don't get me wrong, I'm figuring my forskin-clit over those nice gains and all, but I'm just annoyed. Really really annoyed right now.

I'll be waiting in line, reading a book, checking my current holdings and be annoyed when checking the price.

It is really pissing me off.

[Anonymous No.2060480]

>>2058782

> bitcoins retarded little brother
> bitcoins

Better than bitcoin's autistic cousin, that got raped and had to re-identify itself.

Seriously though, ETH/ETC is some straight cousin fucking, trailer trash, insest shit you see on Duck Dynasty.

[Anonymous No.2060483]

>>2060473
>>2060473
>buying the "wait for the dip" meme

Shit is always hitting all time highs in the stock market unless you are in recovery. Better to grind out slow increases in all time highs than to miss out on a 300% gain followed by a 30% loss.

[Anonymous No.2060484]

>>2060473
this is a Big Short scenario
bitcoin will crash eventually and we'll all live in smug satisfaction when it does, but it may take longer than we hoped.
will ethereum and litecoin fall with it?
will the other Altcoins fall too? thats what I want to know

[Anonymous No.2060495]

>>2060484
We'd need either a liquidity crisis or a massive outflow of capital. I don't see a catalyst for either.

[Anonymous No.2060504]

>>2060495
youre discounting the possibility of a bitcoin correction at all? you only need to look at the year graph of bitcoins price to realize hoe wrong you are.

[Anonymous No.2060515]

>>2060484

Even if altcoins go up and BTC goes down, you buy BTC and the altcoins will flow back into BTC.

>>2060483

stock market != currency

Stock market has 3 billion people slaving away to making it properly function.

Fiat currency is apart of that system and BTC is a fraction not even relevant to a number. 30 billion is nothing compared to ~ 100 trillion with a diving force of 3 billion people.

[Anonymous No.2060521]

>>2058646
>I'll probably pick up some ETH at 25 bucks
Thanks for the laugh

[Anonymous No.2060538]

>>2060504
I don't see another MtGox event any time soon, and the wonder twin ETF not getting off the ground has really only kept a shit ton MORE capital from flowing in. People wanting to invest in crypto are finding alternatives to buy in.

The question is how long are you willing to wait for a dip, and are you prepared to lose gains if the dip isn't as deep as you'd hope.

Shit could go down tomorrow and create a bunch of bag holders, but that's the risk. Waiting for the "inevitable" dip just means you're missing out on what's happening now. If it's really a concern, buy in slowly to dollar-cost average.

[Anonymous No.2060550]

>>2060515
It's not about the stock market, it's about the whole "don't buy at all time highs" shit that fucks people over as they wait for a good entry point. The stock market was just the most convenient example.

[Anonymous No.2060557]

>>2060550

Ya... But those people that bought in last time when BTC was at $1,200...

[Anonymous No.2060580]

>>2058268
Are you stupid?
You can literally do the exact same thing with bitcoin right now. This has nothing to do with litecoin and everything to do with how cryptocurrencies work.
I'd bet .1 BTC that they didn't even use segwit transactions.

[Anonymous No.2060586]

Any od you vros want to send me like 1 cent of bitcoin? I will send good prayers to kek for you (below is the wallet adress ;) ;)... please ill do anything....)

1M52Ue26hNMG588EimfsF7VHNeP7eANzZL

[Anonymous No.2060679]

>>2058931
Let me first start off by saying I don't think we've seen the end of BTC and I'm not sure it will ever fully "die off," but your stance on ETH seems a bit ignorant. Your reasoning:

>eth was sold to huge companies (and banks) first. no one wants your big bank scam coin

It's like you see the picture but missed the point. I don't know how much more evidence you need to understand the collusion that happens between huge companies, big banks, and lawmakers. That is the exact reason why ETH has a chance to rise to the top and rival for the wealth BTC has. They fucking hate BTC, for the very reasons you stated. I'm not saying that what they're trying to do is right, rather that you're fighting against the current. We talk about mainstream adoption here all the time:

>just wait until normies adopt this, it's going to moon!
How many times have you heard this? Do you believe it? And then ask yourself what coins have the greatest possibility of that realistically happening is to. I agree with you about BTC, but there's more to politics than doing the right thing for the people. I'm still holding on to my BTC and hope that one day it will win so the banks can BTFO, but that's no excuse to completely ignore how the world really works.

[Anonymous No.2060925]

>>2059099
When the Canadian real estate bubble explodes expect 10K BTC.

[Anonymous No.2061582]

>>2059033
such as?

[Anonymous No.2061584]

>>2059127
no I wouldn't

[Anonymous No.2061592]

>>2058567
ripple.. rofl that's a scam coin dummy.

[Anonymous No.2061602]

>>2060925
Aye, chinks are corrupt as hell and many who buys million dolalr homes are corrupt officials with tons of wealth.

[Anonymous No.2061606]

>>2060557
have now multiplied their money by 1.5x.

[Anonymous No.2061627]

>>2060448
Die in the gutter, trash

[Anonymous No.2061664]

>>2058567
Nope. Ripple is just for investing. Let the banks use it as a payment platform. That's what it was designed for.

[Anonymous No.2061676]

>>2060484
DIVERSIFY INTO CHEAP ALTS BEFORE THE BTC CRASH. All I'm saying. There will be a quick spike all around because everyone's looking to retain value, the gains will go straight back into BTC for a long hold once each alt hits.

[Anonymous No.2061691]

>>2060925
Shit man, if the real estate bubble pops, I'll be cashing those coins in high and pouring the money into residential REITs like it's going out of style. Could clean up on those dividends my man.

[Anonymous No.2061750]

Wow a civilized discussion on /biz/?

Am I dreaming?

[Anonymous No.2061781]

>>2058119
Whats the best platform to trade this and other cryptos?
Is it still poloniex?

[Anonymous No.2061805]

>>2061781
seconding this

[Anonymous No.2061836]

>>2060580
This. With 0 confirmations any cryptocurrency will send transactions instantly, the whole point of waiting for confirmations is to add more security.
Also Segwit doesn't magically make transactions faster somehow, it just reduces their size so (in the case of bitcoin at least) there won't be a huge backlog and confirmations can be done faster. That video is fucking retarded.

[Anonymous No.2061839]

>>2058901
Kill yourself samefag

[Anonymous No.2061854]

>>2060586

Kill yourself

[Anonymous No.2061900]

>>2058530
Ethereum sometime late this year will. There's a huge amount of news and releases coming this year. ETH is only getting started.

[Anonymous No.2061908]

>>2058901
You know there are id's on here, we see that you're the same person.... Fucking retarded cunt...

[Anonymous No.2061935]

okay so I come here once in a while, trying to see how the business in bitcoins is going and recenty I've seen the litecoin hype and I want to get in.

so I cam here to see if you guys could point me some good bitcoin/litecoin wallets, and the best and fastest way to buy them.

Help a nocoiner out!

[Anonymous No.2062000]

>tfw I was going to buy 10BTC for £3000 during the dip but couldn't find a good British exchange and didn't want to get stabbed from using Localbitcoins

RIP £12000 profit

[Anonymous No.2062009]

>>2061836
>Also Segwit doesn't magically make transactions faster somehow
>confirmations can be done faster

wut?

[Anonymous No.2062100]

>>2060448
Invest in kneepads.

[Anonymous No.2062102]

>>2062000
In my country localbitcoins works with bank transfers.

[Anonymous No.2062103]

>>2058129
>muh myspace analogy
It's ok, you can still dump your memereum while we are under 5 figures.

[Anonymous No.2062110]

>>2060287

The fact that your bank doesn't automatically cancel any transaction if you don't have the money in your account is dumb. Enjoy your outlandish overdraft fees.

[Anonymous No.2062879]

What exactly is the safeguard against the fact that literally infinite cryptos can just keep being created forever? If it becomes a big thing literally every large tech company is going to decide that they must create a new crypto.

[Anonymous No.2062897]

>>2058941
this

[Anonymous No.2062905]

>>2058489

>securely

Explain why everyday someones bitcoins go missing, get hacked, get stolen...

You know what's more secure. CASH.

You can put it in a safe, bury it in a jar, hide it under your bed, put it in your bank for years..and it never vanishes.

[Anonymous No.2062906]

>>2058129
Agree and can't wait for it to happen. Face it bitcoin is grandpa. We love grandpa and grandpa was great and showed us many things but grandpa is getting old he is sick and his methods are dated. He has a virus(collider) he is dying and its time for his children the most promising being ethereum to live for him.

[Anonymous No.2062914]

>>2062879

>having to have a 100+ different cryptos to purchase things in different marketplaces

>having cash which can be used anywhere, anytime you want


Bitcoin and cryptocurrency can't compare to cash. Fuck them all to hell.

[Anonymous No.2062939]

>>2062914
>Work for Microsoft
>Get paid in microcoin
>Can only buy stuff from the Microsoft store

[Anonymous No.2062956]

>>2062905
>Explain why everyday someones bitcoins go missing, get hacked, get stolen...
This happens because people are idiots and the decades of manipulation from the current financial system has made them incapable of controlling their own money so they put them into banks to control it for them and lend 90% of it to others thus generating billions of dollars off of the population's hard earned cash

>Thinking that actual USD pieces of paper backed by nothing hold value long term

Enjoy eating shit off the streets after the next financial collapse.

[Anonymous No.2062957]

>>2062905

[Anonymous No.2062975]

>>2062956
>Enjoy eating shit off the streets after the next financial collapse.

the last financial collapse in 1929?

Yeah okay.. as if that's ever going to happen.

Bitcoin is more likely to crash and hurt a lot more people than the monetary system that people have depended on for hundreds of years.

[Anonymous No.2062988]

>>2062000
Why didn't you just do a national bank transfer?

[Anonymous No.2063011]

>>2062975
I genuinely feel sorry for you, you are blissfully unaware of how fucked all those relying on fiat currencies are. You really should look into the history of Fiat currencies and see how many have failed in the past. Excessive quantitive easing is going to fuck over everybody who isn't storing at least some of their wealth outside of fiat currencies.

[Anonymous No.2063015]

>>2063011
this.
With fiat you don't control your destiny, and don't control your assets. Central bank wants to raise rates? You can't do shit. Central bank weakens your country's currency against USD? You can't do shit.

Crypto is king

[Anonymous No.2063027]

>>2062975
>Having complete trust in our current government
Meanwhile after the 5th quantitative easing the federal reserve will keep on printing

[Anonymous No.2063052]

>>2061582
>real-estate
>crypto
>art
>some cars
>farms

[Anonymous No.2063082]

>>2063011
>>2063015
>>2063027

If bitcoin was easy to buy & use and there was no middle man in the process collecting gees than I would agree with you, but it's becoming highly regulated just the bank/financial industry and you're paying high fees to buy/sell/trade in most cases.

Also having complete trust in a bitcoin exchange/wallet when many have failed, stolen money, been hacked.. is blind faith. I guess we'll see who ends up getting screwed over before the end of the year.

Where's MtGox? Tradehill? and the 40+ other bitcoin exchange/wallets that have shut down over the years?

[Anonymous No.2063097]

>>2063082
Personally I think BTC is pretty much fucked at this point. I think it'll always be around but it won't go much higher in price and it will keep losing its market dominance as next generation Cryptocurrencies gain recognition. Bitcoin Is a gateway currency and probably will be for a few years yet, but as soon as people dive deeper they'll realise that there are much more promising projects out there that have solved many of Bitcoins problems.

[Anonymous No.2063271]

>>2063097

Other altcoins still face the same problem of relying on middle men (bitcoin exchange/wallet sites/etc.) who can fuck people over with fees, or steal their coins, identity, etc.

[Anonymous No.2063320]

>>2063271
The idea of exchanging them for other currency is basically out of spec in the first place. The original meme was that people were going to get bitcoin from exchanging goods and services with the people who mined them but that is obviously a utopian idea and this is planet earth. Money changing is shady bullshit and always will be. If you don't want to deal with it then don't change money but you will struggle.

[Anonymous No.2063346]

>>2063320

Yes, I know in my state (Florida) they're already passing digital currency laws against money laundering and other schemes related to cryptocurrency. Buying bitcoins most likely puts you on a list here.

[Anonymous No.2063430]

>>2063346
It should, too. Ponzi with a veneer of compsci lingo is still ponzi. An incredibly successful one.

The only difference between MMORPG gold and cryptocurrency is that cryptocurrencies are backed by criminal industries, without which they'll amount to nothing but 1's and 0's.

[Anonymous No.2063463]

>>2058560
>blaming the fee for slow transaction times
>when every block is maxed out
You know nothing, newcoiner.

[Anonymous No.2063464]

>>2063430

All fiat currency is just paper or zeroes and ones too, equally worthless. And all fiat currencies are used for crime. The 100 dollar bill is almost synonymous with crime. Good currency by its very nature is something both law abiding people and criminals can use.

[Anonymous No.2063478]

What's the deal with there being 150000 unconfirmed transactions? Is this normal?

[Anonymous No.2064384]

>>2058119
https://99bitcoins.com/bitcoinobituaries/

[Anonymous No.2064392]

>>2058567
>Ripple

You don't know what you are speaking of man

[Anonymous No.2064430]

>>2058119
Bitcoin is slower than carrier pigeon by now.
I'm currently waiting for a transaction to go through... for the last 2 hours

[Anonymous No.2064445]

>>2058560

[Anonymous No.2064465]

If no more transactions are made right now,
the backlog would still take EIGHTEEN HOURS to process.
Bitcoin is unsustainable.

[Anonymous No.2064544]

no one actually knows what the fuck will happen. This is like the wild wild west at this point. You just have to hedge your bets on bitcoin and/or your choice of alts.

[Anonymous No.2064557]

>>2062905
My credit card is 100x more secure than both and I'm never liable for fruadualant charges.

Cash is way insecure give me a break dude.

[Anonymous No.2064583]

>>2058119
> its "too big to fail" at this point
magical thinking is the sign of an immature mind

[Anonymous No.2064758]

Is there any possibility that the huge backlog of transactions is an attempt at discrediting bitcoin?

Would it even be possible to investigate for something like that?

[Anonymous No.2065050]

>>2060473
>Do you know how it feels to wake up to $1400, $1500, $1600, and now $1700? Do you even fucking know how it feels?
Do you know how it feels to know you bought bitcoins in summer 2012 at $4.5 and spent them on frivolous shit?

[Anonymous No.2065059]

>>2060586
Sent ;)

[Anonymous No.2065094]

>>2058568
>It will drop to $1200 at least in the next fortnight.

you best not be shitting me, I've been waiting a week for this dip and it's only rising

[Anonymous No.2065241]

>>2065094
He's shitting you. He doesn't actually know. No one does. It could just as easily keep rising exponentially faster until it hits $10,000 before it crashes to $5000. Every time bitcoin bubbles, the peak has been an order of magnitude larger than the last one.

[Anonymous No.2065283]

>>2065241
The bubbles themselves are actually a part of a larger meta-bubble.

[Anonymous No.2065341]

>>2058129
This whole thread and no one mentions Monero. Fuckin casuals here see pumps and actually think Ripple and Ethereum could replace Bitcoin. Without Bitcoin no one would give a shit about those two retarded bits of technology.

Monero actually looks at what Bitcoin was built to do (unstoppable digital money) and does it better than Bitcoin from a fresh codebase that Bitcoin will realistically never copy.

Facebook got everyone to use their real name, making it an extension of real social networks. MySpace wasn't about that it wasn't going to change to that.

Monero is default private and therefore fungible whereas transparency of the blockchain is important in Bitcoin for enough reasons that it won't change.

The fact is money needs to be fungible and when every coin has a history it's not fungible.

Bitcoin's major use case has been illicit transactions and Monero is the first coin that is actually better for that than Bitcoin.

Money, just like social networks has a network effect and with time I believe Monero will grow it's network past Bitcoin and eventually past fiat as well.

[Anonymous No.2065396]

>>2065341
Monero is really solid. It's got a great dev team and really decent technology. Truly anonymous crypto. I expect it'll be more commonly traded in the coming months. Probably the currency of choice for the darknet.

But don't mind me. Just go pump and dump some penny shit coins purely on the basis that other suckers are buying them up.

[Anonymous No.2065402]

PLUMMET INBOUND

[Anonymous No.2065407]

>>2065402
It bounced a bit just now.. next leg down to hell?

[Anonymous No.2065409]

This is the triangle that was broken downward minutes ago

[Anonymous No.2065414]

theres a chunk to be made because it will keep rising but bitcoin is gonna crash and crash hard the tech just can not sustain the use. Unless the community chooses to make the blocks larger

[Anonymous No.2065416]

habbening

[Anonymous No.2065418]

>>2065407
i think its time
the one rich foreign guy on YouTube said itd get to 2300 before the burst though

[Anonymous No.2065426]

>>2060019
>Most valuable coin
>Worthless

[Anonymous No.2065427]

>>2065418
Yeah the fibonacci lines were at ~$2300 but I don't know.. it looks like we won't go there from here. Big dip before.

[Anonymous No.2065453]

Cascade to 1.2k inbound

Will the money flow into LTC though?

also mfw i sold high

[Anonymous No.2065455]

finally man, my alts will do something.

[Anonymous No.2065492]

>>2065453
Exactly, retrace to $1200-$1300 and LTC will fly since that's the only bigger coin with segwit (fast transaction - so you will be able to use it in your daily life for like buying a coffee)

[Anonymous No.2065494]

btc usually rises at night as the chinese wake up... whats happening?

[Anonymous No.2065498]

>>2065494

still in its daily range, no need to panic yet.

[Anonymous No.2065513]

>>2065498
>>2065494
"When they tell you not to panic, that's when you run."

[Anonymous No.2065544]

>>2060019
>mercury is useless

let me guess, the earth is flat as well?

bad analogy anon.

[Anonymous No.2065588]

>>2065050
I paid off my car loan with Bitcoin @ $400
still only sort-of regret it because being in debt makes me depressed constantly

[Anonymous No.2065595]

>>2065341
>fresh codebase
Monero is a fork of Bytecoin, and was really shitty in its early days. The client did not have a database but loaded the entire blockchain into RAM, which means the wallet used 8GB+ of RAM at some point.
There is still no lightweight client which makes it nearly impossible to use on mobiles.

[Anonymous No.2065598]

>>2065588
Don't regret that. That was a good choice in that moment because you couldn't know where Bitcoin goes.

Just don't forget to buy again under $1300. (Imo it's sooner then everyone thinks.)

[Anonymous No.2065857]

>>2065595
True but the fact that it's not a fork if Bitcoin makes it unique and makes it much harder for Bitcoin to copy than say Litecoin. Monero is by far the largest of the cryptonote coins.

>Database
And now it has probably the best database in the world for blockchains, LMDB developed by the guy who wrote the compression algorithms for communication between the space shuttle and earth at speeds faster than LAN at the time.

>Mobile wallet
Mobile wallets are just around the corner. In the mean time there is the MyMonero web wallet. You can even run a full node on your phone. You can store the blockchain on an SD card or you can connect to a daemon that you or someone else is running remotely.

https://www.reddit.com/r/Monero/comments/651un2/monero_v01031_cli_for_android_arm64/

Running a full node on a smartphone - that's cool. No other cryptocurrency in the world can do that - their CPU and RAM requirements are too high.

[Anonymous No.2065874]

You fellas do realise that a vulnerability discovered in the code, or China banning it will essentially kill the bitcoin, right?

[Anonymous No.2065893]

>>2058489
Oh man you've gotta stop drinking the kool-aid for a second and step back before you lose money. Never get emotionally invested in an investment anon, never...