BUYING BITCOIN IS A STUPID IDEA

[Anonymous No.4189269]

Watch this video and tell me again how its a good idea to buy an imaginary currency with nothing to back its value

https://www.youtube.com/watch?feature=youtu.be&v=XbZ8zDpX2Mg

[Anonymous No.4189274]

>>4189269
> imaginary currency with nothing to back its value
Like the USD?

[Anonymous No.4189296]

>>4189274
you think the USD backs bitcoin? LOL

[Anonymous No.4189326]

>>4189269

It's limited and everyone agrees it's a currency. That's literally all it takes, that's even more than what it takes for an American to accept dollars for their services.

[Anonymous No.4189338]

>>4189326
>It's limited and everyone agrees it's a currency.

It's just being used as a speculative asset. No one gives a fuck about its intended use case.

[Anonymous No.4189347]

Did you autists not pick up on the sarcasm in the video?

[Anonymous No.4189357]

>>4189347
>sarcasm

That guy's tone is pretty neutral.

[Anonymous No.4189361]

>>4189269
bitcoin is valuable for the same reasons gold is valuable. Why did gold develop as money across all cultures independently? because of its properties (which are dependent on the laws of physics)

Gold is valuable because it is the most anti entropic material in the universe meaning all other materials degrade with time relative to gold. This means gold is the supreme store of excess labour. Additionally its scarcity is dependent on the collision of neutron stars and so gold has a constant scarcity on a universal scale. Cryptocurrency will not only have all the above listed properties of gold but more. That will only be true when the internet is decentralised, indestructable and ubiquitous. As soon as that happens crypto currency will be the philosophers stone or the singularity.

It may not be bitcoin or any other of the cryptocurrencies that currently exist but the history of mankind will be divided before and after cryptocurrency. Cryptocurrency makes financial repression impossible https://en.wikipedia.org/wiki/Financial_repression
The us dollar will collapse no later than october 2021 though it can happen at any moment between now and then. More and more countries have been selling oil in yuan and china made the yuan pegged to gold 29th april 2016.
precious metals have always been the way to get rich off new international monetary agreement but for the first time in the history of existence precious metals have a competitor that as soon as the internet is ubiquitous, decentralised and indestructable will be superior.
god help you if you do not own precious metals and crypto by 2020

[Anonymous No.4189371]

It cost thousands of dollars in electricity to create bitcoin. How much does it cost to print a 100 usd bill with nothing to prove it's worth.

[Anonymous No.4189383]

>>4189361
whereas bitcoin is valuable because some retard in his basement says it is.

[Anonymous No.4189403]

>>4189383
>bitcoin is valuable for the same reasons gold is valuable.
first sentence

[Anonymous No.4189433]

>>4189403
are you stupid. bitcoin has no physical backing. gold is real and has many properties that make it valuable. bitcoin is in imaginary land. you are stupid to invest in bitcoin

[Anonymous No.4189466]

>>4189433
read this >>4189361
and try again

[Anonymous No.4189485]

>>4189361
so you are telling me......the USD will crash and bitcoin will take over as the worldwide currency? HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHHA i knew you gooks were dumb but.....HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHHA

[Anonymous No.4189850]

>>4189296
What? He's saying there's nothing backing the USD either, faggot.

[Anonymous No.4189870]

>>4189269
>t.marxist
It's almost as if marxism is wrong and value is subjective. Really makes you think.

[Anonymous No.4189876]

>>4189269
Yes buying bitcoin is a stupid idea, you've made your point, now you can go