Explain why anyone should invest in this boomer-shilled thing called Bitcoin?

[Anonymous No.21338982]

No utility.
High market cap.
High risk to crash.
"Muuh, it's like the internet in 1989 despite it's being launced for 10+ years and shilled hard as fuck.. Still nothing to use it for (bu--u-ut darkweb, a-a-and to buy altcoin)
The most retarded selling points ever:
>Digital gold
>Theee cooode decides and it can't be changed (no the fucking miners decides in the end you retard)
>Call option on future financial system

Essentially like investing in Myspace around 2012, why do people do this?
Did believers in social media get a call option by investing in Myspace?

[Anonymous No.21339027]

>>21338982
You are too poor to understand it’s utility. Bitcoin isn’t for you. Go gamble on shitcoins, options or your little 10oz silver stack

[Anonymous No.21339171]

>>21339027
I'm unironically a millionaire.

[Anonymous No.21339716]

>>21338982
You could have bought bitcoin at its lowest point since the crash and have sold it at its highest, and you would have made less than if you invested in an etf for those three years. I wouldn't be surprised if CD's have better returns. Bitboomers are completely in denial

[Anonymous No.21339800]

>>21338982
Yes Raoul is cringe. He was shilling tether FUD as recently as 2 years ago. I think his video and newsletter business is failing so he’s trying to appeal to bitcoiners

[Anonymous No.21339988]

I keep hearing boomers shilling it hard af... Bitcoin will be sub 10 % of total coin valuation within 3 years.

https://youtu.be/767CbDajKu4?t=1130

[Anonymous No.21340056]

>>21338982
you're gonna find out the hard way after the miners bags are cleared out of the way.
>>21339171
and you won't be able to afford a single bitcoin once you're accepted your mistake.

[Anonymous No.21340083]

>>21338982
Don't buy it cunt. I've had enough of you weak handed cunts.

[Anonymous No.21340187]

>>21340056
>>21340083
Enjoy holding <20koin for the rest of your lives

[Anonymous No.21340226]

>>21340056
based

[Anonymous No.21340310]

>>21339027
>>21340056
>>21340083
I'm noticing a pattern. ALL the bitcoin boomer baghodlers can't actually answer WHY anyone should invest in it.

It's just "You're dumb", "You're poor", "I'm going to be rich, hueheuheu"...
The type of people holding Bitcoin 2020 are unironically adorable. They at least have hope and belief, that's what makes'em cute!

[Anonymous No.21340332]

Btc always starts to plummet when Americans go to bed, sigh

[Anonymous No.21340349]

>>21340310
We certainly could. We don’t care to explain it so some poor faggot who can’t DYOR or ask the right questions.

[Anonymous No.21340387]

>>21340349
>>21340310
Unlike most shitcoins here, we don’t need you few thousand bucks for a pump and dump rugpull. We have Wall St. Investing hundreds of millions of dollars into BTC because they are starting to understand the value prop and the regulatory landscape has become tenable. I don’t care if you wallow in your ignorance, we’ll see who laughs in 5 years.

[Anonymous No.21340400]

>>21340349
I'm still waiting for an actual answer

[Anonymous No.21340402]

>>21340310
the older bitcoin becomes, the more valuable it is
do you think banks and fortune 500 companies are going to buy into something that's been around for a year, or something that's been working perfectly for over a decade with no downtime and continued awareness and mining investment?

[Anonymous No.21340420]

>>21340310
you buy it the same reason you buy link to ironhand it and dump on fools when the circulating supply dries up and causes FOMO

[Anonymous No.21340429]

>>21340400
I don’t give a fuck, I’m not going to spoonfeed you. I do not care at all wether you buy or don’t.

[Anonymous No.21340434]

>>21340310
Pretty similar to the stock market though, I doubt most ppl have a thorough understanding of securities and equities, it’s just glorified gambling at the end of the day

[Anonymous No.21340443]

>>21340349
Hahah, the cope is cute.
Who's my big bitcoin boy who's going to be rich?
It's yooou!

If you're a big boy, I think you can ELI5 why I should throw my million dolla on this piece of crap.
Give it a shot bitcoin boy! :)

[Anonymous No.21340501]

>>21340443
You are wallowing in your own ignorance. Don’t buy, I don’t care about you.

[Anonymous No.21340572]

"If you don't believe me or don't get it, I don't have time to try to convince you, sorry." - Satoshi Nakamoto

[Anonymous No.21340581]

>>21340501
Seethe more faggot. Hold your "digital gold" for the rest of your life if you want. Boomercoin is only becoming more irrelevant as times goes by.

[Anonymous No.21340598]

>>21340349
>We certainly could.
No, you couldn't and that's why none of you EVER do.

[Anonymous No.21340665]

>>21339988
Why the fuck did you post a 30min video with Martenson and Maloney explaining their positions that we were already aware about that had no relation to the OP.
We knew Mike was silver stacking and Chris has gone full prepper.
Fuck you i want my 30min back

[Anonymous No.21340672]

>>21340581
>>21340598
You act as if I need to defend or clear my investment thesis with you, some angry, ignorant stranger on a scam, pump and dump forum. You are nothing, you are irrelevant. You expect to be bottle fed like a little baby and when you aren’t you throw your little fits.

[Anonymous No.21340680]

>>21340429
>>21340501
You came into a thread where the premise is that you explain why anyone should invest in shitcoin and you go "i could explain it to you but im not going to". Are you fucking retarded? Why are you even here?

[Anonymous No.21340695]

>>21340672
see
>>21340680

[Anonymous No.21340698]

>>21340402
This is the first attempt for an actual argument.
Firstly, why would they invest in something that doesn't have any utility in the first place?
Secondly, even if this can be true to some extent the marginal benefit will shrink with time, Today Bitcoin is almost twice as old as Ethereum. But as you probably can tell, this won't be true for long and the marginal benefit will shrink with time.
Bitcoin's security is designed to decrease with time but boomers won't realize that until someone ELI5 for them.
Unless the price of bitcoin keep going parabolic, the security will decrease for each halving, you will reach a point when there is a lot of idle hardware that can ONLY be made to mine (or attack Bitcoin), once you have enough idle hardware 51 % (in coordination with short bets or governments looking to harm it's credibility) attacks will be a common thing.
Bitcoin's design is REALLY dumb if you look for long term security.

[Anonymous No.21340712]

>>21340672
>if you don't buy my irrelevant piece of shit bags you're just a big smelly baby
>NO I WON'T EXPLAIN WHY BUT I C-C-COULD IF I H-H-HAD TO

[Anonymous No.21340735]

>>21340672
I don't expect anything from you other than you to remain a poorfag who bought into a pipedream. But you clearly do need to defend your case, you insecure faggot. Mad that a boomers retirement fund makes more money than your shitcoin?

[Anonymous No.21340746]

>>21340698
China already owns bitcoin, all the miners are located over there. Its literally just used as a slush fund for their illegal and subversive activity. Also, if bitcoin drops below 6k then they don't even have profit margins anymore and the network completely collapses.

[Anonymous No.21340881]

>>21340712
That sums up every bag holder post-2016...
They're cute though, always something.

[Anonymous No.21340936]

>>21340310
since you're genuinely ignorant I'll explain.
If you tried to cash out a million dollars in shitcoins, you'd destroy its value in minutes.
If you want to cash out a cool mil in BTC, no sweat.
And when the time comes to realize profits from all these pathetic little PnDs, the whales move their profits into BTC, where they can preserve their wealth while maintaining the upside exposure to the market.

Just look at all the pathetic little 2017 moonboy coins, like NEO, QTUM, ONT or even worse XRP. Imagine DCAing that trash.

There's only a one month window where you could have lost money on BTC in its 10 year history. Even if you've been DCAing since the cryptomania blow off top, you're in profit.

eat shit, pajeet.

[Anonymous No.21340965]

>>21340698
>Firstly, why would they invest in something that doesn't have any utility in the first place?
that could be debatable, there's utility in a currency that is global and doesn't require having to convert between local to foreign currencies, no high cost bank fees, and ability to instantly know of the transaction and visible proof a transaction occurred as agreed upon
>Secondly, even if this can be true to some extent the marginal benefit will shrink with time
i don't know if it'll shrink, but it might not grow as fast as what it did in the past. the network effect is pretty huge here though- ask 98% of people about crypto, and they'll only know "bitcoin"
>Unless the price of bitcoin keep going parabolic
this is still possible to happen, given its deflationary nature
idk i'm not trying to convince anyone, and i'm not a maxi, though i do keep about 20% of my crypto holdings in BTC, while i keep over 50% in ETH

[Anonymous No.21340969]

>>21338982

First Mover

[Anonymous No.21341036]

>>21340965
Based poster,

[Anonymous No.21341192]

>>21340965
>Unless the price of bitcoin keep going parabolic

Guaranteed as those money printers keep printing. You have to take into account that there is massive inflationary pressure across all asset groups so as long as the money keeps printing it's becoming harder and harder to actually assess actual value. By the time BTC hits $100k that might buy you a very nice car or maybe just a loaf of wonderbread.

[Anonymous No.21341265]

>>21338982
ipv6 was launched 30 years ago still fringe adoption to date.

[Anonymous No.21341274]

>>21341192
>as the money keeps printing it's becoming harder and harder to actually assess actual value
yeah we're in completely new territory
never before has the entire global economy been back by nothing but fiat, and everyone is printprintprinting

[Anonymous No.21341316]

>>21338982
>High market cap.
kek it's fucking nothing yet.

[Anonymous No.21341339]

Fake money begets more fake money

[Anonymous No.21341348]

>>21341274

[Anonymous No.21341480]

>>21341348
money printing seems genius to keep things running, but once you add too much fuel you'll flood the engine to the plane and then it's a slow coast down to a crash
but it might never happen because everyone expects it to
i don't know if i'm using the term right but it's like a "kensyian beauty contest" where you don't act on what you think but what you think everyone else thinks- so if everyone thinks it'll cause a huge inflation spike everyone plans on that and it ends up getting circumvented somehow
idk it's like 3am and i've not slept but keep this thread going i like it

[Anonymous No.21341522]

>>21338982
Because it’s the only real value tracking mechanism invented so far with the exception of using yellow rocks.
Like the Internet unlocked information flow, Bitcoin unlocks value flow. The world will never be the same. It is the first hard money and all other money will inevitably be sucked in, the earlier it does the better off it will be.

[Anonymous No.21341670]

>>21341480
i personally think most people like 99% on this planet completely misunderstands money. this especially includes metal cucks and austrians.

[Anonymous No.21341723]

>>21340965
>that could be debatable, there's utility in a currency that is global and doesn't require having to convert between local to foreign currencies, no high cost bank fees, and ability to instantly know of the transaction and visible proof a transaction occurred as agreed upon
This is a decent argument. How much of it's current usage is any of these usages?
My counter-argument would simply be, that yes there is some utility in this, but other points counter it.
>Weak UX (Slow transactions, easy to get hacked, etc)
>Very limiting in comparison to smart-contract platforms which can serve as money with all the listed benefits while also implementing further utility which ought to create a larger demand and larger network effect in the long run.
>i don't know if it'll shrink, but it might not grow as fast as what it did in the past. the network effect is pretty huge here though- ask 98% of people about crypto, and they'll only know "bitcoin"
The marginal benefit will definitely decrease.
The marginal benefit back in 2015 between "bitcoin is secure because it's been running for 7 years" and "Hey Ethereum has been running for a few months" is a large contrast in 2035 "BTC 37 years VS. ETH 30 years", people won't care *as much* for those extra 7 years as they did back in 2015.
I've already mentioned why I think the network effect on BTC will have a hard time to reach any further than tech geeks/crypto gamblers.
>Unless the price of bitcoin keep going parabolic
Let's take the extreme scenario say USD crash and is replaced by Bitcoin. It constitutes above 95 % of all trade... Where will the price increase come from?
Half of all hashing power gets removed each 4 years, this will be an extremely risky scenario.

My example might be a bad one because people will say it won't reach 90 % anyway, but I want you to think what happens once Bitcoins price (in real terms, inflation adjusted) reach a steady state.

[Anonymous No.21341787]

>>21341670
it's the funny idea that literally everyone understands how money works from first hand experience that goes back to the very early stages of our social evolution (trade 2 fish for 10 apples now, or hold a ticket/shells/gems to get 10 apples later instead), but when it comes to complex monetary systems- that type of thought has only been in the works for only a couple hundred years or so (since paper currency was invented)

[Anonymous No.21341805]

>>21341522
>It is the first hard money
bitcoin is not money tho
and it would be the first hard _digital_ currency maybe but that's not even true.
it's the first that works in a trustless permissionless publicly auditable and secure manner tho.

[Anonymous No.21341824]

>>21340969
As:
Myspace
Altavista
Netscape

What happened with them?

Other companies took notice of what they did wrong and improved... Just like what's happening now.

[Anonymous No.21341893]

>>21338982
You're absolutely right. Before 2014 it was at least good as a payment system, with instant transactions basically for free, but Blockstream turned it into a useless bitgold clone instead.

[Anonymous No.21341956]

>>21341893
bitcoin never had instant transactions before segwit and lightning

[Anonymous No.21341985]

>>21340572
BTC has nothing to do with SN anymore.

[Anonymous No.21342015]

>>21341956
>He doesn't know about 0-conf
Newfag

[Anonymous No.21342047]

>>21342015
0-conf is a fools gold.
you are a fool to accept it.

[Anonymous No.21342081]

>>21341723
i like this kid of discussion
i'm running on little sleep so apologies if i ramble/don't make sense

>Weak UX (Slow transactions, easy to get hacked, etc)
i'm not sure it's that bad. you can easily send 1 million dollars in just about 10 minutes (one block confirmation) to get pretty good certainty that the transaction went through- a lot of places require multiple block confirmations but i imagine that is mostly overkill
>Very limiting in comparison to smart-contract platforms which can serve as money with all the listed benefits while also implementing further utility which ought to create a larger demand and larger network effect in the long run.
yeah that's why i hold a lot more ETH, but i still keep some BTC as a hedge. but i don't see why bitcoin would have to have smart contracts to try and compete with something it's not. heck if you want there's even forks like BCH that are working on smart contract addittions (but of course since all the hash is on BTC then BCH isn't "as secure" so no big money will move into BCH if one pissed off BTC miner could flip over to BCH for a week performing a 51% attack, so that high hash rate keeps it the most "secure")
>I've already mentioned why I think the network effect on BTC will have a hard time to reach any further than tech geeks/crypto gamblers.
i'm not sure though, because it's already reached a critical mass- investment firms like (i forget the name) graystone (i think?) has a bitcoin trust that's bought up more bitcoin than has been mined in the past year to date, with plans to continue buying; there's also the company (microsystems? sorry i forget shit easily) that bought 250 million in bitcoin to be used as a hedge against the dollar
bit players are already getting into the game and it's becoming a big boys game in terms of money going in
but those same companies would probably buy ETH too for the long term hedge of it
1/2

[Anonymous No.21342119]

>>21342047
Yes I'm sure someone is hacking the blockchain so they can get out of their 8 dollar coffee. You're a fool for embracing kiked KYC/AML MT custodian Lightning Network. BTC is fools gold, boomers technogold.

[Anonymous No.21342153]

>>21342119
0-conf ain't got anything to do with the blockchain.

[Anonymous No.21342179]

JPOW CANT PRINT IT. THATS IT. THATS ALL. if thats hard to understand stay broke pajeet

[Anonymous No.21342189]

>>21342153
The safety of 0-conf does. You're braindead, you have no idea what you're talking about. You're just reguritating propaganda you've been brainwashed with.

[Anonymous No.21342196]

>>21342119
>custodian Lightning Network
rofl who is the newfag now? hahahahah!
you don't even understand lightning on the most basic level. you have no clue why pre-consensus like 0-conf is meaningless bullshit. how new you are honestly?

[Anonymous No.21342230]

>>21341723
people too like warren buffet might buy ETH instead of BTC (since buffet wouldn't buy gold since it "doesn't do anything" but ETH would have future staking returns to make from it)
>Let's take the extreme scenario say USD crash and is replaced by Bitcoin.
i like to imagine a big bitcoin spike, but it'd never replace USD just like gold would never replace it in the same function either- but that doesn't mean something along the lines of a "bitcoin backed currency" couldn't exist similar to how there will (probably) be gold back currencies again once the whole "global fiat bubble" experiment ends eventually
>Half of all hashing power gets removed each 4 years, this will be an extremely risky scenario.
i wonder too about this, and how well the tech will keep up. i'm not sure if moore's law comes into play here where each 4 years more efficient machines will come out to keep up with more and more hashing while keeping the electrical costs about steady
>but I want you to think what happens once Bitcoins price (in real terms, inflation adjusted) reach a steady state.
i wonder what would happen in that case too, since it's by nature a deflationary currency and i'm not sure how it would behave in a case where it would be expected to be a steady price
like for real i don't see bitcoin having much function beyond maybe 30-40 years (well before the mining rewards end and it'd have to rely upon just transaction fees alone)
by that point we will have a true global crypto currency that can replace local fiats and not fall to the whims of governments (i hope)
sorry if this wasn't a good argument for things it's mostly late and i'm just kind of rambling

[Anonymous No.21342238]

>>21342196
Subhuman retard.

[Anonymous No.21342241]

>>21342189
once it hits the blockchain it's not 0-conf anymore you idiot. 0-conf is retarded.

[Anonymous No.21342288]

>>21342196
Unless you run your own 24/7 live node you will have to use someone elses you fucking moron. Do you think the average person will run a 24/7 live node? Do you even know what an MT is?

[Anonymous No.21342302]

Only total degenerates invest in crypto. Everyone knows stock market is the right way to invest in similar fashion.

Sadly this board is dead now by all those shitty crypto threads.

[Anonymous No.21342326]

>>21342241
Stupid monkey.

[Anonymous No.21342387]

>>21342288
web wallets are custodial what's new?
but lightning isn't and you don't have to run a node when you are not transacting if you only spend and don't receive.

[Anonymous No.21342419]

>>21342326
you are a fucking tech illiterate cashie imbecile.
you have no clue wtf you are talking about.

[Anonymous No.21342452]

>>21342387
If you have LN bitcorns and not your own node, it's custodial you fucking moron.

[Anonymous No.21342466]

Every other currency is shit on by degenerate untrustworthy self serving politicians. Bitcoin is anon. Anon understand anon.

[Anonymous No.21342495]

>>21342419
You're a fucking braindead NPC midwit.

>>21342466
The same goes for bitcoin. Do you know who funds Blockstream?

[Anonymous No.21342556]

>>21342230
>sorry if this wasn't a good argument for things it's mostly late and i'm just kind of rambling
It's cool I've also been awake a long time (getting close to 24 hours).
I'm going to try to sleep (again), I'll try to answer your counter-arguments if the thread is still left or if I can't sleep.

[Anonymous No.21342610]

I hate altcoin fags so much.
They just restart arguments we won in 2017 from square one and expect us to debate them.

Every single altcoin sacrifices decentralization for some feature it's just tiresome trying to keep up with new idiots everyday.

[Anonymous No.21342662]

>>21342387
>when you are not transacting if you only spend and don't receive.
Lmao you fucking moron, if you close the channel all the time you have to update the blockchain all the time, paying an on chain transaction fee every time you close a channel. You are so fucking ignorant holy shit.

[Anonymous No.21342696]

>>21342556
off by one
and sounds good, sleep well if you can

[Anonymous No.21342700]

>>21342610
Kill yourself.

[Anonymous No.21342745]

>>21338982
Hey Peter, I took your advice and bought some gold stock it turned out pretty well. Also I stacked up on some silver. Ilove your pod cast.
Have a good day

[Anonymous No.21342750]

>>21342495
These are the parties backing the closed door NYA

1Hash (China)
Abra (United States)
ANX (Hong Kong)
Bitangel.com /Chandler Guo (China)
BitClub Network (Hong Kong)
Bitcoin.com (St. Kitts & Nevis)
Bitex (Argentina)
bitFlyer (Japan)
Bitfury (United States)
Bitmain (China)
BitPay (United States)
BitPesa (Kenya)
BitOasis (United Arab Emirates)
Bitso (Mexico)
Bitwala (Germany) BACKED OUT!
Bixin.com (China)
Blockchain (UK)
Bloq (United States)
btc.com (China)
BTCC (China)
BTC.TOP (China)
BTER.com (China)
Circle (United States)
Civic (United States)
Coinbase (United States)
Coins.ph (Phillipines)
CryptoFacilities (UK)
Decentral (Canada)
Digital Currency Group (United States)
F2Pool (China) BACKED OUT!
Filament (United States)
Gavin Andresen (United States)
Genesis Global Trading (United States)
Genesis Mining (Hong Kong)
GoCoin (Isle of Man)
Grayscale Investments (United States)
Guy Corem (Israel)
Jaxx (Canada)
Korbit (South Korea)
Luno (Singapore)
MONI (Finland)
Netki (United States)
OB1 (United States)
Purse (United States)
Ripio (Argentina)
Safello (Sweden)
SFOX (United States)
ShapeShift (Switzerland)
surBTC (Chile)
Unocoin (India)
Vaultoro (Germany) BACKED OUT!
Veem (United States)
ViaBTC (China)
Wayniloans (Argentina) BACKED OUT!
Xapo (United States)
Yours (United States)

and you blame blockstream because the consensus decided not to hardfork
you're a fucking idiot.

[Anonymous No.21342867]

>>21342750
Were you even here in 2017? Or are you being disingenious on purpose? Have you ever heard of politics? Are you a psychopath or do you just have codependent personality disorder?

[Anonymous No.21343181]

>>21342700
Ok I apologize for typing this but holy fuck you btc cucks are fucking retarded, the worst of the worst NPC redditor midwits, go back there and stay there.

[Anonymous No.21343196]

>>21342867
Here's a free lesson.

When you increase the blocksize to levels regular people cannot validate you get ninja-reapprovals and iceage deadlines to force change into the consensus.
That's a vulnerability bitcoin fixed that no other blockchain will ever fix.

[Anonymous No.21343220]

>>21341787
You ever seen a stone age shell midden and wondered what an Uggman was doing with that much seafood? They were literally proto-stackers.

[Anonymous No.21343287]

>>21343196
Ok, so there is somewhat of a centralization problem. Therefore, let's turn bitcoin into a KYC/AML, MT, effectively custodian, shit network, offering zero benefits over the current financial system. Great idea. You're fucking subhuman.

[Anonymous No.21343389]

>>21343220
when boats and fishing nets caused the collapse of the shellmarket
i can feel grug's pain

[Anonymous No.21343847]

>>21338982
Because as you said, it has arrived in boomer circles, and also if you don't want to hear it, that's where the money is at. Massive funding from boomers coming in for reasons like wealth preservation in zero interest rate and dollar printing environment.

[Anonymous No.21344332]

>>21343287

So youre saying were getting rich?

[Anonymous No.21344426]

>>21341723
You all ignore one major thing: Crypto as alternative to monetary systems only works with trust and as long as there are no other alternative coins in the same league. If really your scenario took place and eth would eventually be on one level with btc, that would already have killed any legit wealth storage function of all cryptocurrencies together. People would understand that it's completely replacable and lose any trust. They would understand that countless such currencies can be created and replace theirs. This is not dependent on underlying technology but solely on trust. Therefore, if btc doesn't make it, no one will make it. Btw this is also the easiest lever that can be pulled by central institutions to prevent crypto as real alternative. Divide and conquer.

[Anonymous No.21345065]

>>21338982
dollars are all those things too except less utility