The amount of BTC lost forever is increasing every day

[Anonymous No.54293912]

[Anonymous No.54293958]

Hacking, suicide victims with no heirs/written will, people who lose their cold wallet key.

[Anonymous No.54294115]

its slowing down though, rapidly.
most was lost when it was worthless, and is the unique reason why bitcoin and only bitcoin is suited to be a digital money. those lost coins represent the only fair method of distribution wealth throughout the system slowly.
then bitcoin started to be worth something, and from that moment on everyone started paying attention, it meant more thefts from malware and russian hackers looking to make money but less people simply throwing away their wallets or forgetting they ever had any.
these days it's almost impossible to lose your bitcoin in the ways of the past, and it's only going to get more and more unlikely until there's an insignificant amount lost per year at all.

[Anonymous No.54294255]

>the year is 2050
>1 BTC = $1,000,000,000,000,000,000
>only 10,000 BTC left in circulation
>last remaining whales (>10 BTC) engaged in perpetual state of war
>world's best assassins prioritize BTC holders for massive payouts
>anyone with private keys to over 0.0001BTC is a walking target and must forge false identities, hire private security, etc.
>the only miners left are run by governments deep underground and guarded by nuclear self-destruct failsafes to protect the private keys

[Anonymous No.54294390]

>>54294115
delusional and optimistic but okay. It will never not be deflationary and the only possible reason this could be good is using it as a hedge against inflation of real currencies, which is its only real utility. It will never be money. It is, quite literally, a security.

[Anonymous No.54294560]

>>54294390
>delusional and optimistic
accurate and factual, you mean.
yes, it'll always be deflationary, but that's irrelevant with something like 210 quintillion base-layer indivisible units.

>quite literally, a security
never try to pretend to understand finance against people that actually do.
it's, by definition, a commodity, and no amount of late adopter tears is going to change the very nature of what it is, not just in legal terms, but most importantly in psychological terms.

[Anonymous No.54294664]

>>54294560
Yeah well maybe it's not fungible or whatever but trying to say it's comparable to something like gold or something with actual physical value is just fucking stupid. You don't really know anything about finance, you just huffed a shitload of memes and are pretending you do. It cannot be a currency if it's deflationary; it will always be something on the side measured against actual currencies. It just doesn't work the way you think it does. Also late adoption implies adoption at all. Bitcoin will never be "adopted" in the way you seem to think it will. It is simply not a currency and its value is entirely speculative.

[Anonymous No.54294717]

>>54294664
to be fair anon... he said money, not currency

[Anonymous No.54294779]

>>54294664
>physical value
what dose that even mean?

[Anonymous No.54294850]

>>54294717
It's not money. It's a speculative digital stock that you buy expecting it to increase in value. Anon talks about the psychology of it, seemingly without realizing that's all it's for. And it's not physical, so it's not secure. You can easily lose your keys, you can easily get hacked and have it stolen, you can easily fuck up and send it to an essentially burned wallet. There's just so much wrong with bitcoin from a technical/infrastructure perspective that it's kind of asinine.

But it has value. Because people think it does. For however long that lasts. Maybe forever. The price could always go up. But it will never go up in a vacuum and it will never see adoption, because it doesn't work.

It also is fungible, so I don't know where anon thinks it definitionally is a commodity and not a security. That's another wishful cope, hoping that it can forever be delayed from being under the scrutinizing eyes of federal regulation. Just more delusional cope.

It's worth something tho. It may even make you rich by holding onto it against he collapse of the current financial system. Maybe 100 dollars in it now buys you a house later. That can only be a good thing, for people that hold bitcoin. But there's just as much of a chance it gets cut the fuck out or heavily taxed.

>>54294779
meaning it can be used for something beyond trading and speculation. Gold have physical uses. Every other commodity has physical uses. Bitcoin has none, because it is a digital hopeful "currency" that acts like a stock. It has no inherent value, and all of its value comes from the simple belief that it will not only be there a year from now, but that it may be worth significantly more. The entire system for it is designed for this to be the case; it is why deflationary mechanisms are built into the system. That incentivizes an increase in value versus other assets, but only in the case where it's unironically NOT being used. Bitcoin has to be SAVED. Otherwise it's inherently worthless

[Anonymous No.54294888]

>>54294664
a non inflationary money will always win long term vs an inflationary money, everyone will end up having it, that's how it will turn into money, to avoid conversion costs
gold industrial use is not really related to its monetary use

[Anonymous No.54294892]

>>54294888
No, because for it to be money it has to actually work as money. It doesn't, because it's not money.

[Anonymous No.54294925]

>>54294892
>>54294888
also, it doesn't matter if its industrial use is unrelated to its monetary use. The fact it has a physical use by definition is what makes it a commodity. Maybe you could stretch that definition by saying some stupid shit like it's shiny and a rock therefore it has inherent value. This isn't wrong, and it's a somewhat reasonable argument to make, but still separates it from like, wheat or oil or something. But it has legitimate uses and is a physical thing so this makes it a commodity

[Anonymous No.54294945]

The amount of frogs that will be posted in the future is decreasing every day. One day there will be no more frogposts. It's inevitable....

[Anonymous No.54294965]

>>54294888
>>54294892
>>54294925
I also want to point out that deflationary currencies will never work as money. That's why there will never be a deflationary currency again beyond maybe some huge financial fuck ups or a temporary reversion to some kind of silver standard cbdc or something. The way economics works basically just means you have to constantly have an inflationary currency to maintain how our economy currently works. For this to not be true, the entire world would have to change in radical ways that ends in you being dead so it doesn't matter.

[Anonymous No.54294980]

>>54294892
>tautology
yep argument proven case closed ggwp

[Anonymous No.54294990]

>>54294255
I would watch this kino

[Anonymous No.54294991]

>>54294850
Nigga you glow

[Anonymous No.54295008]

>>54294980
you wouldn't be alive without tautology retard. My post was also evidently just 2deep4u. Bitcoin isn't money and can never be money because its functionality simply doesn't work for it to be money. If you don't know what money is, I can see where the confusion comes from. But it's not money, and that means something very important

>>54294991
yeah well try and run me over fucking faggot

[Anonymous No.54295062]

>>54294892
for it to become money it has to grow over time until it is enough widespread, with enough volume and lower volatility. it does just that.

>>54294925
I don't care about how you call it, but the sec calls bitcoin a commodity, bitcoin doesn't care though

>>54294965
it's not a matter of not working, it's a matter of not having the choice. if there's an asset that grows and that can act as money (bitcoin has the perfect properties for that), then people will just save more due to human nature. that's how it is. whether it works or not isn't relevant: that's how the universe works. yes it might be radical. but I'm in favor of it.

[Anonymous No.54295120]

>>54294664
i don't know why you're so mad about bitcoin being money. hope you're not holding some altcoin thinking it's going to replace it. if you're traditional and think gold is the only money, then that's factual, but only to a point. the minute you have to start digitizing gold for modern uses you're left with something worse than bitcoin, despite gold being a better core "money" in its simpler, natural physical form.

a world without digital communications, without computers of any kind is likely never coming back, and i'd rather be using something that i can store in my head than something i have to carry around when both are ultimately treated the same.

the world has moved on, move on with it or accept you're not going to capture the productivity increases just like those that eschewed the industrial revolution.

[Anonymous No.54295146]

>>54294850
what about the physical network of billions of devices built using gold.

[Anonymous No.54295177]

>>54295008
Your thought process is a narrow, closed loop - a mind made on very simple, self assured Dunning-Kruger arguments. And that's fine. There's room for everybody and anybody on the distribution curve, by definition. A tautology, if you will. Probably the result of some inherent bias, perhaps the result of some intrinsic aspects of your personality... a touch of schizophrenic doomerism coupled with an oversized bag of shiny rocks? Just a guess. It's a bit of a cliché at this point, a bit too predictable. 2 more weeks, trust the plan.

[Anonymous No.54295210]

>>54295062
no, for it to be money it has to be used as money and not a vehicle for speculative investment, which due to the way it works is impossible.

The fed only calls it a commodity because the government currently can't get away with calling it a security. But if you haven't noticed, they're trying very hard to do that behind the scenes and will succeed at some point in the future. This will be affected one way or the other by extreme volatility in the american currency, which will either cause the government to hold onto it temporarily until a new currency can be established(likely its own silver backed cbdc or a new currency after the dollar explodes) or to regulate it and tax it into the ground, or ban it outright. Perhaps even all of those things simultaneously.

I also don't know what makes you think bitcoin has the perfect properties to even remotely act as money. It really, really doesn't. It is ALMOST nonfunctional, and the functionality it does have lends it to being poorly suited for the future in almost every respect. It can retain its value longterm but that is speculative and there is the possibility it can always just go to 0. Doesn't mean it's not worth holding onto.

>>54295146
Yes

>>54295120
Because it's not money and the retards trying to convince everyone else of their own delusions are supremely annoying. Bitcoin isn't money. It is a speculative investment that I would personally encourage you to hold onto, in conjunction with silver, gold, ammunition, and food. But it's not, and will never be, money. It is impossible.

[Anonymous No.54295252]

>>54293912

Well, yeah. When you depend on a literal piece of paper to keep your magic funny money words safe, a lot of shit can happen.

The losses will only get exponentially worse over time between natural disasters, retards losing info, exchanges failing etc.

The smart thing to do would be realize right now there is no way to securely store this shit long-term. You have very high risk of losing your entire investment, and it is a fatal flaw of crypto.

It still comes down to protecting pieces of literal paper and making sure no other human eyes ever see them. Ridiculous.

[Anonymous No.54295266]

>>54295177
The thing about dunning kruger is that it kind of implies that one holds delusional beliefs in contrast with actual, physical realities. I've noticed a particular subset of people obsessed with this term. Perhaps you took an IQ test and scored highly and this makes you a smart person? Of course, this itself is an extension of dunning kruger if you are consistently wrong all the time and use a meaningless test score to justify that. Meanwhile the actual smart people don't care. I've never met anyone who was actually smart that actually even mentioned dunning-kruger. Partly because the implicit unstated realization that comes along with that is that it's about as pointless as being deluded. If you cannot make effective arguments and resort to bullshit psychological tricks, which you have, then you have lost and it's simple as that. Not that winning or losing matters; because life isn't a game and who's smart and who isn't doesn't matter either. What matters is who's right and who's wrong, which is tested by reality. Something I'm sure you fail at more than I do, probably. But that's just my dunning-kruger brain :^)

[Anonymous No.54295320]

>>54295210
at that point it doesn't matter then what narrow definition you're trying to use. money is simply a standard medium of exchange, and today's fiat currencies will either die or need to be backed by something that looks a lot like bitcoin in the not so distant future. that's all.

[Anonymous No.54295348]

>>54295320
Oh today's fiat currencies will die. Then they will be replaced, very possibly by something backed by things with physical value, because the competitive global environment will dictate it. Then everyone will go back to fiat again in 50 years because it's the only thing that makes sense when everyone isn't trying to kill each other.

The human race will use fiat until the end of time, or it will die. There is no in between. If the human race survives, it will be with fiat. If it dies, it will be in the nuclear hellfire paid for with commodity backed cbdcs.

[Anonymous No.54295349]

>>54295266
Not an argument.

[Anonymous No.54295355]

>>54295210
I don't think I've said bitcoin can be money right now. I've said it's growing and becoming money, as it grows more. volatility will lower, volume increase, hardware performance improve. look up the properties of bitcoin if you don't know them.
surely you understand that such system cannot become money overnight, right? if so, you acknowledge that there's a concept of adoption time to account for, and speculation is natural in that context.
everything indicates that bitcoin will end up fitting the 3 criterias of money (not the same concept as money properties)

[Anonymous No.54295376]

>>54295349
Doesn't have to be. Thanks for playing tho, I prefer to care about reality instead of playing infantile games but that's maybe just because I actually don't operate on dunning-kruger pathologies

>>54295355
I understand the arguments for bitcoin being money, I just don't think it will actually work like you think it does. The whole "bitcoin is money" thing is a libertarian fantasy and that's all it will ever be. To be clear, that does not mean that bitcoin is worthless, because it isn't. It just isn't money

[Anonymous No.54295431]

>>54295348
so why the fuss about definitions then? gold's won the physical realm, bitcoin's won the digital realm. each bubble and collapse of a fiat currency simply keeps increasing the real value of those assets over time.

the value bitcoin would get being "money" is not much more than it would attain being a global wealth instrument not dissimilar to gold.

this is clearly a worthless academic discussion, of which nobody is going to make money being "correct" about.

[Anonymous No.54295438]

>>54295376
again I didn't said bitcoin is money, I've said bitcoin is becoming money
enlighten us on how and why you think bitcoin won't work
money having to work isn't a libertarian fantasy, it's just a fact

[Anonymous No.54295478]

>>54293912
Silver is great because you sometimes get a mulligan
https://youtu.be/if42bRWlL3o

[Anonymous No.54295510]

>>54295431
because it isn't money and it annoys my autistic brain

>>54295438
It is a deflationary currency that is used for investment. This is exactly why it can not work as money. Money implies widespread actual usage as a currency, but one, the bitcoin infrastructure simply doesn't support that. Two, if it were to ever be "adopted" in the ways that some people imply, the economy would implode and force the creation of a legitimate currency that can actually be used. Bitcoin may retain its value through this, and this will always depend on how things simply shake out, but it will never be used as a currency because the way that bitcoin works just doesn't support that. This is especially an issue because of future energy needs and conservation. You can make the argument that because the entire financial system uses more energy than bitcoin does that the energy argument isn't valid or something that really really matters, but pound for pound almost like any crypto, especially the work validation or whatever ones, are just way less efficient. This will matter in every possible future case besides the one where we magically meet all of our energy needs and then some with a massive amount of energy infrastructure to the point where nobody cares. But people really, really care and that's not likely to happen, which will mean more regulation and more legislation, even in the absence of other federal financial considerations like I dunno, COMPETITION. If ever at some point we can't even meet our energy needs at a baseline, any digital currency will become far less valuable. This is a distinct possibility

[Anonymous No.54295555]

>>54294990
just need to get Paul Verhoeven to direct it

[Anonymous No.54295687]

>>54295510
1.you keep repeating but didn't explained WHY it (non inflationary) wouldn't work which was my question. you just say the economy would implode, that's not an answer at all you realize that?
2.if bitcoin keeps growing, there will be widespread usage as I've explained
3.the bitcoin infrastructure will support that and more
4.since non inflationary money always win vs inflationary money, no one will want that "new legitimate
currency" you mention
5.bitcoin is more efficient

[Anonymous No.54295770]

>>54295687
>that's not an answer at all you realize that?
It is if that's what would happen

I want you to consider a world where bitcoin has widespread usage. Why does this happen? Because it's worth a lot. Why is it worth a lot? Because stacked against inflationary currencies it, as an investment vehicle with deflationary mechanisms, is worth more of the inflationary currency over time. Do you think in the absence of other inflationary currencies this trend continues? To what degree? Does it maintain its worth when you must be using it exchange for goods and services that you actually need? Or do other things take its place as investment vehicles that are worth more btc over time? Do these other assets magically become the next widespread currency? A house is worth more than btc. Do people trade houses? They certainly could. You give me your house, I give you such an such. Why doesn't this happen?

To understand why it being deflationary is such a huge deal, look at the great depression. A deflationary currency being the standard of exchange is just an issue from an economic perspective. Sure, it's nice to look at it and say "hey this could actually work if you traded it around and used it for stuff" but economics is just way more complicated than that and there's a reason our actual currencies work the way they do, which is to say be mildly inflationary and used for everything all the time. At least in an ideal world. Bitcoin just does not support this

[Anonymous No.54295867]

>>54294850

[Anonymous No.54295870]

>>54295770
yes long term if bitcoin is widespread it will be stable due to its volatility lowering.
no reason something would replace it, if it's possible it doesn't exist yet.
your part about houses makes no sense, houses don't have the properties to be money. they have a price, that's it.

as far as I know the great depression was an economic crash under the dollar, an inflationary currency. not really something happening under a deflationary money system.
you didn't answer my question.
why a non inflationary currency wouldn't work.

[Anonymous No.54295929]

>>54295870
>it will be stable due to its volatility lowering.
but then it loses its purpose and the reason people wanted it in the first place. Then comes the question, why is this being used? Because there's nothing better? Because governments can't make their own people use their own currencies and every government in the world just has to accept being blueballed by a US navy/CIA technological finance op?

Also, the great depression started with the currency being deflationary. A brief way to explain this would be, if my money is going to be worth more a year from now, why should I spend it? If I don't spend it, how does the economy work? The short answer to this is that it doesn't

[Anonymous No.54295985]

>>54295867
I have over 300 confirmed FBI anonymous tips. You are nothing more to me than another tax dodging crypto monkey.

[Anonymous No.54296078]

>>54295929
you're basically saying that something EXTREMELY valuable (probably the most valuable thing that exists by market cap) would lose its purpose if it becomes stable as well as very valuable? you have to understand that something expensive makes it desirable. people want to earn things that have value.

it would be used because it would be money, and money is used because people want money basically.

the dollar during the "great depression" was still an inflationary currency. isn't the problem that it all happened extremely fast? this isn't relevent anyway, we're talking about a non inflationary money system, not an inflationary system that somehow crashed the economy one time and it created economic issues. you didn't answered again.

I'm telling you that in a non inflationary economy, people will save more, will still consume what they want, and investment will still happen because there will be a high reward, so there will be lots of thoughts coming with each risks. and don't forget that the price will stabilize, so it's not like "my money will be worth x tomorrow". that's "my money will be worth the same in x years", which is how money shall work. not by forcing people to consume useless garbage while stealing their savings silently.

[Anonymous No.54296124]

>>54296078
I am saying if it's valuable, it will not gain the stability you are looking for. The reason it is desirable is the exact reason it cannot work. If becomes stable, it is no longer desirable. If it becomes the primary method of exchange, it will no longer work. It will simply always be in the background and this isn't a bad thing. One of the reasons being that a world that runs on bitcoin would actually be super gay and fucking stupid

The dollar didn't lose its deflationary status until around 1933. It being deflationary in the first place was one of the things that caused the great depression. This is also the exact reason we do not allow deflationary currencies anymore, because they cause depressions.

[Anonymous No.54296208]

My encrypted private key, encryption key, and bip39 passphrase are divided among my best friends and wife. If I die, they'll collaborate to recover my bitcoin. My wife hates my friends, so it would take my death for them to collaborate

[Anonymous No.54296214]

>>54296124
this makes no sense. stability is related to volume, not price.
it's desirable if it's valuable. that's just a fact. bitcoin will be valuable due to its use and properties.

the dollar has always been inflationary, it has always been centrally controlled with no fixed supply.

you just say "it cannot work". you NEVER explain. what's the matter with you?
stop brining up the great deflation, it happened under the dollar and caused an economic crash because it's a bad currency, that's not our subject here.

[Anonymous No.54296335]

>>54294255
10/10 movie anon, would buy popcorn and pop (yes i say pop, fuck you niggers)

[Anonymous No.54296385]

>>54296214
anon it's at this point your choice to believe the things you do, I am far past the blood alcohol level to try and legitimately explain this to you

[Anonymous No.54296439]

>>54296385
I'm just trying to hear your explanation, you didn't told it to me, every time you say it's "bad" but you never give a proper reason, which obviously won't help changing my mind especially when I have arguments
inflation vs deflation has been debated many times, austrian economics say a slight deflation is good, so it's not like I'm making claims out of nowhere, and you can clearly see that the current (inflationary) system doesn't work, another argument in favor of no inflation
I guess let's see what happens with bitcoin?
try to skip alcohol it's bad for you

[Anonymous No.54296460]

>>54296439
so is sobriety

[Anonymous No.54296492]

Will I make it with 2.1 BTC?

[Anonymous No.54296550]

>>54294255
10/10 wouldn't torrent and pay admission for the first time in 5 years to watch it

[Anonymous No.54298943]

>>54293912
I often wonder about this scenario.
If someone were to kidnap a celebrity they dislike, and they ask for the ransom in Bitcoin, what would happen if they just throw the ransom in some random address and burn the keys?
Would it be unrecoverable?

[Anonymous No.54298961]

>>54296335
>pop
Based and northerner-pilled.

[Anonymous No.54300287]

>>54293958
Based oldfag, I think poor storage and hacks are the root causes, more reason why I store my Btc, Bnb, Mana, Ride and Mex in a Ledger. Although the tasking part is how to protect your keys.