Tfw 6 years ago told parents to buy bitcoin when I was 14 and never listened to me

You don't seem to realize how much gold is stored in vaults. Also, you can't transfer gold to the other side of the world in 10 seconds.

Sage withdrawn

ALSO, as most cryptocurrencies have to be mined, they're like a more perfect and abstract version of gold. No impurities either. They're historical, mathematical tokens. Gold is just matter.

how does that matter?

There's an abundance of it, and banks and governments own the vast majority of it. It really wouldn't be all that different from the current situation.

except you can't print more gold

But if you have 80% of it, you can control the price.

until you no longer have 80% of it

Yeah, but you control the price by trading it and if you inflate it artificially by trading only with your friends or your own proxies, then nobody will want to trade it anymore because it will be dead. All that will be left will be overpriced, nearly worthless metal. Then the market will eventually correct the price. Bitcoin is inherently shit because you need exchanges to trade it. You can't go to the bank and ask for x bitcoins because it's not a currency - it's a commodity legally. It has legal consequences. What's more is that since it runs on exchanges, what can happen (again) is that a currency can go down with all the bitcoins on there and so they are permanently gone - stolen by exchange's owner. The guy who did that the last time is truly genius. He won life big time. He can sell millions of bitcoins, crashing the currency forever. It can happen to any exchange at any time. Bitcoin's usefulness is only niche, basically for trading in illegal sector. In any other case money is more convenient and better, mainly because you don't have to wait at the store for 3 hours to buy a beer.

… what can happen (again) is that a bitcoin exchange can go down …*

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A bank is an exchange. And no, you don't have to go to an exchange to get it. You can buy it directly from me for fiat, food, favors or whatever I'm in need of.

You can prevent getting MtGox'd or robbed by making sure the admin of an exchange cannot use your coins, because only you know your private key. That's how it's done these days. You don't store your coins on an exchange, you store them in a cryptographic wallet if you're not a complete moron.

If the price of gold increases, then the rate at which the wealth of the banks and governments grows is far greater than the rate at which the wealth of the people grows. That's one of the problems with gold. The dictators already have it, and they have the majority of it. They do not have significant values in cryptocurrencies, so the people's wealth would grow faster than the governments' wealth. Not to mention that it can actually be transferred.

So no, it cannot happen to just any exchange at any time, not anymore. Only you should know your private key.

The value of Bitcoin cryptocurrency is not niche. It's the transformation of the human economy from centralized (dependent on the banks you love so much) to decentralized (everyone is his own bank) and unregulated (you can send your money to anyone you'd like, and you do not need to ask for permission nor let the government know what you own).

You don't know how it works is all. You don't need to wait for 3 hours to buy a beer. You can choose a good cryptocurrency (Bitcoin is not it) and instead wait 10 seconds. Eventually, sufficient trust will be in place that it's enough that the cashier knows you sent it. You can prove the validity of your money instantly though cryptography, and you can verify that you sent it. That is enough to get your beer.

Bitcoins are worthless. I knew this since day one. Can't really buy anything with Bitcoin in my city.

nice logic

I have over 100k in cryptocoins and started with 5k. Im pretty happy, it's the only thing that gives this autist some hope.

Oh thanks!
I bought at 25 Americans and I forgot I had them

might wanna switch some of that 100k into stocks or real estate

You can get drugs guns and assasinations and tax free

Try buying a pizza with bitcoin, it doesn't work. Especially since 1 bitcoin are supposedly worth more than $7.99(the amount needed for me to buy pizza). 1 Bitcoin cost $2310. Definitely not worth spending my money on. How am I suppose to split 1 bitcoin for a $7.99 pizza? I'd have to order 289 pizzas.

I don't like drugs. I already own a gun. Who would I want assassinated? Also can I hire a hacker to hack a webpage with bitcoin?

Not for now, real state is iliquid and the stock market is also overevaluated. I know cryptocoins are here to stay so im not worried even if it drops 60% from this price, because i know its gonna go higher some months/years later.

first off, Bitcoin can be split just about any way you want to. that's the nice thing about it being digital.

second, you can't buy a pizza with stocks either, but that doesn't mean they're worthless.

Sounds like your pizza place is charging $2262 for a pizza then. You do realize you can send fractions of a bitcoin, right? And one bitcoin is worth $2262, because that's what people are willing to pay for it. Far from worthless.

You'll be able to buy pizzas and burgers and tacos and whatever garbage you normally eat for bitcoin or whatever cryptocurrency you wish in about 5 years, don't you worry, little normie cuck.

I'll stick to having real money. Digital currency is worthless.

Pick one.

except it's literally not

I think it's retarded to spend $2310 for one lousy bitcoin. So unless there's a way to get it for free, no thank you.

you do you, but it's not worthless

if you were so sure, why didn't you buy them with all your money? go work and invest in bitcoins instead of begging your parents to buy them?

A world currency should absolutely not be on the cutting edge of technology. Walking the world's wealth into uncharted territory is begging fot disaster.

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Yeah, that sounds logical and all, but it isn't. Blockchain is no longer uncharted territory, and will for sure not be in 5 years.

It's a shame you missed this cycle. I've hit a couple of BTC's pump & dump cycles and made a lot of money off it.

What's funny is I have never actually used BTC to buy anything because I don't do drugs or anything illegal and I'm also not a paranoid guy.

I'd say don't buy any BTC right now unless you need it to buy something. I bought 20 coins back in 2015 when they were around $200 a coin and sold them all a couple days ago. This might not be the optimum time to dump but I'm happy enough turning $4,000 into $40,000. I got a bad feeling in my gut that told me it was time to dump.

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Don't beat yourself up about it. This is Jew tier money changing type shit. Just wait for it to pop again and buy a couple coins.
What my friend actually did back in 2015 was he bought 1BTC and gambled it on online blackjack. I don't know much about it but apparently if you play the perfect strategy you can get a 49.5% win rate. Sounds like shit to me and I'd never do it but he did manage to turn that 1BTC into like 10BTC in a couple days. He always was a lucky motherfucker.

I have no idea what to do now. I don't want to cash them out yet nor do I need the money at all atm. Normies would have 10 million ideas already what to blow this cash on.

cash out and use the money on less volatile assets that also pay dividends

what exchange should I use when the time has come? Are there some that will not bully me and block / freeze my account because it is too much money?

I told you guys to buy Antshares, but you didn't listen.