/biz/ - Business & Finance

[Anonymous No.59739573]

What went wrong

[Anonymous No.59739575]

Some how people got more greedy and desperate the higher the price got

Really odd if you consider how laid back and chill bitcoiners were back in the early-mid 2010s when the price action was pretty dull and it looked like it would take a lifetime to ever reach $10,000 let a lone $100,000

[Anonymous No.59739584]

>tradfi boomers coming around and buying our bags is a bad thing

[Anonymous No.59739589]

>>59739573
same thing that went wrong with the internet when it became more widely adopted

the lowest common denominator is subhuman filth. The general public ruins everything it touches

[Anonymous No.59739597]

you're remembering things wrong

[Anonymous No.59739963]

Lmao there was an attempt at defi

[Anonymous No.59741151]

>>59739573
It's simplem BTC has topped, to pump further it needs institutional investors
>which won't happen
And soon, the black swan event will commence

[Anonymous No.59741270]

>>59739597
I don't remember 2013 at all lol

[Anonymous No.59741291]

Now there are more options, I mean I can keep my ass quiet for a while with my Nibbles and after the disaster of 2021, I prefer it that way

[Anonymous No.59741642]

All the good people moved over to Monero.

[Robert No.59741671]

>>59739573
Nothing, the meme is just flat out wrong.
Even in 2013 95% of people were only in it for the money.
There are way more drugs sold today for BTC than in 2013.
People just learned keep quiet about it.
Pretty much any site that sells something not entirely legit i come across only accepts crypto.

[Anonymous No.59741778]

>>59739573

[Anonymous No.59741789]

>>59739573

[Anonymous No.59741801]

>>59741789
based

[Anonymous No.59742653]

The midwits inability to grok bitcoin appears to be a function of their conception of humanity as individual organisms operating as tribes as opposed to the reality that humanity has evolved into a superorganism bound by voluntary exchange. The midwit viewed btc as a New Tribe hence his feelings that “bitshit has failed!” by the existing dominant tribe “moving in” to bitcoin. We can observe this reasoning directly in the xmr-maxi’s “muh circular economy” completely missing the obvious: we already have a circular economy: Economy.

However, Bitcoin is not a new tribe, but an advancement in monetary technology, Bitcoin has no purpose, it is a new thing, a trustless intangible ledger, and can be used for new things.

We can use btc for at least two priceless functions:
1) We can encode the price of money into btc via aggregate demand for “economic unit”, in doing so creating a Trustless Price Signal of Money, i.e. THE economic reference point. This massively increases the efficiency of economic calculation.

2) Trustless intangible Store of Value: SoVs pre-btc either had to be physical or trust-based, both are subject to seizure, this provided negative sum actors (NSAs) a HUGE systemic advantage as NSAs can specialize exclusively in force, with a trustless intangible SoV we can guarantee voluntary exchange in-the-limit as btc can be made unseizable (multi-sig, Shamir backup) and is infinitely more resistant to seizure by default.

Further, while not priceless, BTC will drain abstract economic demand from assets with functional use (gold, land etc) freeing them for productive use.

[Anonymous No.59742731]

Bitcoiners watched as Bitcoin Exchanges that refused to be bought out by central Bankers mysteriously got "Hacked" and ceased to be. Bitcore was taken over by Central banker backed Blockstream and Bitcoiners were clueless and allowed Central Bankers to remove Signature data from Blocks in the Segwit Hardfork (For scaling! instead of raising the blocksize by 2mb as if cpu storage wasnt getting exponentially cheaper every year). Segwit removed Smart Contracts and DeFi from bitcoin forcing bitcoiners to stray from Satoshi's vision and be forced to use a third party middle man (central exchanges) for everything bitcoin.
The normie perspective thinks """they""" never attacked bitcoin and its unstoppable and they are beating the government and banks by buying bitcoin. lol and there there was the Asic wars but thats a story for another time. Hal finney tried to stop them.

[Anonymous No.59742778]

>>59739573
Governments joining in, mean that Bitcoin won.

[Anonymous No.59742784]

>>59741789
based and redpilled - because it's the case.

[Anonymous No.59742796]

>>59742731
>central exchanges "hacked"
yes many owners run off with money. do self custody, stupid

>muh takeover
the obvious takeover was the bitcoin-cash idiots, funded by BitMain.

The BASED developers of *bitcoin* invested into LN and community supported it. Fuck off with your too heavy chains.