NIA forecasting a crash in Bitcoin prices

It's a pyramid scheme, everyone knows, even the ones involved.
The game to play was to make a fortune before it crashes since the beginning.
The only question is "when".

key word here is volatile,
it can and will explode time and time again,
its more volatile than the regular market by giant margin

interesting thing is that every time the bubble "bursted" it found a plateau on a level that was higher than the previous highs. Even if it does burst, it will probably stabilize around USD 1K and stay there for a few years before the next rallye starts again.

Bitcoin's most important streght is its scarcity. Gold could be mined on asteroids or it could be artificially created in laboratories but the amount of bitcoin is capped at 21 million and nobody can inflate this amount. Regardless of what you think about the future of BTC, it is probably the most interesting monetary experiment in the last 2000 years and I am excited to see how it will end.

these forks are nothing more than external parties trying to take over bitcoin by marketing their altcoin as the "real" bitcoin. The real bitcoin will always be what the core devs decide. The other faggots can fork until eternity but nobody will ever give a shit about their altcoins.

oh I expected the next copycat to call itself bitcoin platinum but I see, these people are humble and modest.

Lolberts are the best berts. Not even saying bitcoin is going to drop, but you people who think bitcoin is any sort of financial savior are delusional.

Good. It all needs to crash so I can get a video card for a reasonable price again.

Even if BTC crashes, I think people are still buying video cards for Ethereum mining.

All those video cards and all that electricity just burned off. It's fucking obscene.

Nobody alive was able to experience a time without fiat.

GPUs are not for Bitcoin. They're for Moneros and Zcash

But my point still stands. Majority rule isn't a good safeguard for anything because most people are manipulable idiots.

I still can't believe how people fall for this shit.

Call me when the first crypto currency addresses the 51% problem.

Here we go again with this "it can change, so it will change" shit again. It is in nobody's self interest for Bitcoin to inflate, nor will it ever be.

This isn't "one wallet one vote" mob rule bullshit, it's proportional to how much skin you have in the game. You don't mine, you don't get a say in where the network goes. They only decide on things when it's incredibly imperative for the network to do so, as even small decisions cause large swings in the price.

I'm not saying I can absolutely predict that it will change. But my response was to one of the many people who say it can't change. It can, so stop saying it can't.

I can envision several scenarios where many would think it was in their self interest to inflate bitcoin. Especially powerful people, which is why "bitcoin is non-inflatory" is an argument at all, because we know sneaky, manipulative and influential people like to inflate currencies. There's a reason why people accepted changing having their money backed by rare minerals (also a shit system but the best we had at the time) with monopoly money. It wasn't because people were way dumber back then, it's because the majority can be steered with propaganda exactly against their self interest.

And if that's too conspiratorial in mindset for you (even though that's exactly what happened) how about when bitcoin becomes even more centralized between a few miner-powerhouses say 30-40 years down the line? Might be way sooner seeing how the lay of the land is with that already. What happens when their profit margin falls beneath operation because bitcoin has become too hard to mine? Wouldn't it be in their interest to change this aspect of the protocol that basically destroys their by then very centralized operations?

Cryptocurrencies is an interesting technology with lots of potential. I'm not even saying bitcoin is going to drop in value any time soon like the naysayers do. It might go much higher, I don't have a crystal ball. But as a social panacea it's not it. It's prone to centralization, it's got the majority consensus problems both in the technical and social aspects, as well as several others. We've already seen the rudiments of how chaotic these things might get with the fork debates we've encountered, about simple and in many ways inconsequential changes and where people have to put their trust in different informational groups for what is best. How will this play out when the real players in perception shaping gets into the mix? "Won't someone think of the children and the poor!??" Hard to say if the Bitcoin lolbert crowd is any more resistant to manipulation than any other smart group of people throughout history.

Actually, in most regards they seem very naive so I can't say I have much hope.

Well what about BitInstant? MtGox? Or ButterCoin?

There is a limit to how much you can manipulate people, and that limit is very small when you factor in how much it costs to do so. Who stands to gain from inflating Bitcoin? Nobody earning or holding Bitcoin, that is. There is no practical reason to. Only those who seek to profit from Bitcoin's destruction have a rational reason to inflate it, and those people are not influencers and never will be. At best they go big on a short sale, and Bitcoin is so volatile that they'd just choose to spread FUD instead.

The only realistic demand for inflation would be if a large amount of Bitcoin users started taking out loans for it, ones not adjusted for inflation, and would stand to gain from said inflation, a la bimetallism in 19th century America. However, they are not influential enough to divert the course of action; by necessity, their lenders would be far more influential. This is why only those with skin in the game get to make decisions, and why I regard this non-argument of "they'll just manipulate everyone into making bad decisions" with so much disdain. It doesn't take a market exclusive to homo economicus to figure this out.

They move on to a different coin. Mining is self-regulating: Miners leave as the price goes down, miners enter as it goes up. If big miners came close to failure, miners smaller than them would already be dropping out - the difficulty would decrease and profits start going up. If the price didn't grow to match the difficulty, the same correction would happen.

Hard forks to improve mining become viable if and only if it is more profitable to hard fork than to move to a new platform, but the losses they'd take on what they've earned so far would outpace any gains they make in the future.

you miss the point. the point is banks will use crypto tech to create their own (((crypto))) products, then crash crypto with no survivors for their own benefit. current banking powers will not simply go silently into the night. or are you naive enough to truly believe they would?? for the past 5+ years banks have been heavily investing into crypto specifically bitcoin but also some alts and more importantly, into the devs. they don't need to attack crypto infrastructure or protocols directly all they need to do is manipulate it and they can kill it. they don't have their own (((crypto))) ready to roll yet and haven't killed USD yet so they haven't killed crypto yet. when (((banks))) can credit their accounts with infinite fiat, buying crypto is babbywork for them. they throw 12 billion? 50 billion? at crypto simply to buy up controlling stakes and manipulate the price, it's super easy :)

once we have (((crypto))) then we'll have rfid chip 666 to buy or sell and (((they))) will have total control. that's their goal. both crypto and rfid chip implants prominent in the news, it doesn't take a rick to connect the dots even a morty can see the big picture :)

No, why you do that is because you lack proper understanding of history, society, economics and human nature.

But that's how it is today, especially with young people. They severely underestimate their ancestors and overestimate their contemporaries, even though very little have happened in the biology of humans for tens, possibly hundreds of thousands of years. A medieval man had a just as sophisticated brain as you, even though he lived in what would appear to be a strange make-believe mind-scape to you. And even though history is littered with examples of populations veering into very peculiar modes of thinking, most often spurred on by powerful kings, priests or ideologues, you somehow think that can't happen again. Even though there are still people living who was alive when the last huge collective psychosis ravaged the west with the collectivist movements. But people now think modern man is somehow immune against this, and why do they think so? Not from any particular real observations, but because some authority they trusted told them so. They were told in school and on the TV that people are smarter now and they believed it, contrary to all evidence. That shows a lack of critical thinking, which is no wonder seeing how every remnant of training in logic, historical context and rational thinking has been scrubbed from the schools over the last century.

As I say, people wasn't as dumb in the past as they are being portrayed as being and people aren't as smart now. Take the concept of usury for example. In medieval times that was a capital offense, and if you were found to practice usury some very serious men would come and drag you to the town square where they would literally chop your head off with a big axe. Do you think this was because the societal ideologues of those days had no understanding of how usury impacts society? It should tell you something about how strongly they felt about it. Today usury is the bread and butter of our economic system, to the detriment of everyone but a tiny, tiny group of the social elite. Most people just think that's an inevitable and even proper part of society, because most people don't really think much about anything, but rely on an authority they trust to tell them what to think. It was this way in the past and that's how it still is.

But how does this relate to bitcoin? Not in any particular way if you're just talking about it's technical merits in an objective sense. But that's not the discussion you've started. A huge part of bitcoin zealots present it as some sort of social panacea that will break banks and bring fairness to economy. Which is a ludicrous statement, seeing how bitcoin has no safeguards against the type of subversion that has been the downfall of other contending systems. In reality bitcoin is pretty similar to gold in that regard. It's divisibility, non-counterfeitability, predictable and non-inflatory way of production and so on and so on. From an objective standpoint it's pretty much neo-gold. But no one in their right mind would suggest a gold standard was any way to really save the economic system and bring fairness to the world, because everyone knows gold was subverted and with relative ease at that. It stands to reason that any monetary system that would purport to actually repair and prevent the severe problems of our grift based economy from happening again would have to account for history and have built in safeguards against the ways it was subverted before. Which bitcoin does not. In fact, it might be even worse than gold if it reaches a world currency standard, because while pretty similar to gold in it's technical properties it is compounded by the dubious anonymity and security of computer systems in general.

In essence it's important to understand that bitcoin is an accord, an agreement, a protocol. It's not something written in stone. Accords change with circumstances, always have. Your idea that people would never accept changes to that is just wishful thinking. In reality a system that would attempt to actually fix our problems would have to account for exactly that, it would have to be something written in stone, because democracy is a terrible and weak idea. This concept might be beyond our collective skill to implement as of the present. But again, I'm not saying there's anything wrong with bitcoin. It's completely fine for what it is, namely a new way of doing the same old. But a social-economical revolution it is not. This thinking comes from a lack of objectivity, because you proponents are people who are too invested in the success of bitcoin. Some are spurred on by greed, some by idealism.

But when you're too invested in the success of an idea, you also lose your objectivity around it.

"""(((rumor)))

The banks can't kill Bitcoin. If they try,we can fork it, or just start again, it's not hard.

Source? Banks hate crypto and need it to die, because they can't print more at will.

Great, because the NYA are trying to kill the devs, and the devs only control the reference client, not the protocol, so it doesn't matter.

Great, we'll cash out and fork a new one. Or just start over. Then, banks are left with useless 1's and 0's.

Whatever.

btw, putting (((parentheses))) throughout your post makes you look like a sub-85 IQ subhuman

Usury was because the church couldn't figure out the logical reason for interest, so they made it illegal.

Turns out the problem was solved with the conception of time preference.

>(((The))) (((banks))) (((can't))) (((kill))) (((Bitcoin.))) (((If))) (((they))) (((try,we))) (((can))) (((fork))) (((it,))) (((or))) (((just))) (((start))) (((again,))) (((it's))) (((not))) (((hard.)))
(((again,))) (((the))) (((banks))) (((can))) (((kill))) (((crypto))) (((through))) (((manipulation.))) (((obtain))) (((a))) (((controlling))) (((supply))) (((and))) (((manipulate))) (((the))) (((market.))) (((you))) (((can))) (((fork))) (((and))) (((start))) (((over))) (((all))) (((you))) (((want))) (((and))) (((the))) (((banking))) (((powers))) (((will))) (((follow))) (((you))) (((wherever))) (((you))) (((fork))) (((to.))) (((and))) (((each))) (((time))) (((you))) (((fork))) (((you'll))) (((divide))) (((the))) (((userbase))) (((and))) (((acceptance))) (((of))) (((the))) (((coin.))) (((hence,))) (((each))) (((time))) (((you))) (((fork))) (((you'll))) (((lose))) (((value.))) (((meanwhile))) (((the))) (((banks))) (((can))) (((release))) (((their))) (((own))) (((subverted))) (((crypto))) (((and))) (((because))) (((their))) (((crypto))) (((is))) (((not))) (((subject))) (((to))) (((manipulation))) (((by))) (((banking))) (((powers))) (((the))) (((bank))) (((crypto))) (((will))) (((remain))) (((stable.))) (((it))) (((will))) (((gain))) (((users))) (((at))) (((your))) (((expense))) (((until))) (((only))) (((a))) (((few))) (((use))) (((your))) (((fork.))) (((and))) (((then))) (((your))) (((fork))) (((will))) (((be))) (((worthless))) (((because))) (((nobody))) (((uses))) (((it.)))

>(((we))) (((can))) (((fork))) (((it,))) (((or))) (((just))) (((start))) (((again,))) (((it's))) (((not))) (((hard.)))
(((tell))) (((that))) (((to))) (((current))) (((bitcoin))) (((users,))) (((how))) (((many))) (((disastrous))) (((forks))) (((have))) (((we))) (((had))) (((this))) (((year))) (((again))) (((:)?)))

>(((Banks))) (((hate))) (((crypto))) (((and))) (((need))) (((it))) (((to))) (((die,))) (((because))) (((they))) (((can't))) (((print))) (((more))) (((at))) (((will.)))
(((just))) (((like))) (((anyone))) (((else))) (((banks))) (((can))) (((create))) (((their))) (((own))) (((crypto.))) (((when))) (((they))) (((do))) (((it))) (((will))) (((play))) (((by))) (((the))) (((rules))) (((of))) (((the))) (((banking))) (((cartels))) (((and))) (((it))) (((will))) (((be))) (((trivial))) (((for))) (((them))) (((to))) ((("print"))) (((all))) (((the))) (((crypto))) (((they))) (((desire.))) (((all))) (((they))) (((must))) (((do))) (((is))) (((subvert))) (((competing))) (((crypto,))) (((present))) (((their))) (((own))) (((crypto))) (((as))) (((the))) (((most))) (((stable.)))

>(((Source?)))
(((look))) (((on))) (((any))) (((job))) (((board))) (((and))) (((see))) (((the))) (((flood))) (((of))) (((crypto))) (((jobs))) (((at))) (((financial))) (((firms.))) (((jp))) (((morgan,))) (((goldman))) (((sachs,))) (((etc))) (((all))) (((working))) (((on))) (((their))) (((own))) (((crypto))) (((instruments.))) (((and))) (((it's))) (((common))) (((knowledge))) (((central))) (((banks))) (((are))) (((buying))) (((up))) (((crypto.)))

>(((banks))) (((investing))) (((in))) (((devs)))
(((NO))) (((you))) (((stupid))) (((nigger,))) (((this))) (((isn't))) (((good.))) (((they))) (((actively))) (((recruit))) (((some))) (((of))) (((the))) (((best))) (((crypto))) (((devs))) (((to))) (((work))) (((on))) (((their))) (((own))) (((crypto))) (((instruments.))) (((those))) (((they))) (((can't))) (((recruit))) (((they))) (((still))) (((try))) (((to))) (((fund))) (((so))) (((they))) (((have))) (((influence))) (((over))) (((these))) (((devs.))) (((and))) (((the))) (((devs))) (((who))) (((replace))) (((the))) (((originals))) (((are))) (((the))) (((ones))) (((who))) (((push))) (((hardest))) (((for))) (((forking))) (((which))) (((fucks))) (((the))) (((userbase))) (((and))) (((stability))) (((of))) (((the))) (((big))) (((coins.)))

>(((Great,))) (((we'll))) (((cash))) (((out))) (((and))) (((fork))) (((a))) (((new))) (((one.))) (((Or))) (((just))) (((start))) (((over.)))
(((you))) (((won't.))) (((more))) (((truthfully))) (((you))) (((can't.))) (((you're))) (((invested))) (((in))) (((your))) (((coins,))) (((the))) (((bank))) (((is))) (((invested))) (((only))) (((in))) (((subverting))) (((them.))) (((you'll))) (((never))) (((cash))) (((out))) (((until))) (((it's))) (((too))) (((late.))) (((the))) (((banks))) (((goal))) (((being))) (((to))) (((destroy))) (((the))) (((crypto,))) (((they))) (((have))) (((the))) (((initiative))) (((in))) (((beginning))) (((massive))) (((selloffs.))) (((anons))) (((holding))) (((crypto))) (((will))) (((panic))) (((when))) (((they))) (((see))) (((the))) (((price))) (((crash))) (((and))) (((they'll))) (((sell))) (((which))) (((adds))) (((momentum))) (((to))) (((the))) (((crash.))) (((the))) (((banks))) (((will))) (((reap))) (((the))) (((profits))) (((from))) (((the))) (((selloffs))) (((and))) (((buy))) (((back))) (((more,))) (((for))) (((less,))) (((when))) (((the))) (((price))) (((is))) (((low.)))

>(((we'll))) (((fork,))) (((or))) (((just))) (((start))) (((over)))
(((you))) (((can))) (((yet))) (((you'll))) (((lost))) (((value,))) (((acceptance,))) (((and))) (((userbase))) (((each))) (((time))) (((you))) (((fork.))) (((eventually))) (((nobody))) (((will))) (((use))) (((your))) (((fork,))) (((nobody))) (((will))) (((accept))) (((it,))) (((and))) (((it))) (((will))) (((be))) (((worthless.)))

>(((banks))) (((are))) (((left))) (((with))) (((useless))) (((1's))) (((and))) (((0's.)))
(((you))) (((say))) (((you'll))) (((leave))) (((them))) (((with))) (((1's))) (((and))) (((0's))) (((yet))) (((they))) (((already))) (((credit))) (((their))) (((own))) (((fiat))) (((accounts))) (((with))) (((1's))) (((and))) (((0's,))) (((this))) (((doesn't))) (((hurt))) (((them.)))

>(((666))) (((rfid))) (((Whatever.)))
>(((just))) (((fuck))) (((my))) (((shit))) (((up))) (((fam)))
(((the))) (((virgin))) ((("master))) (((plan",))) (((cool))) (((story))) (((bro)))

>(((parentheses))) (((are))) (((retarded)))
(((only))) (((a))) (((brainlet))) (((morty))) (((would))) (((say))) (((such))) (((a))) (((thing,))) (((a))) (((rick))) (((thrives))) (((on))) (((them.)))

This is why you invest in Ether for the long haul. It's a commodity and an asset. And no, the supply of Ether is practically capped with such little inflation, and it will ultimately be soon anyway.

Nothing you ever do will conclude your ricochet of external existence. You are not impressive or ingenuous. The idea of a magnamonious pareto-consciousness forwarding your volition is near laughable

**thanks

8,600 currently

Seriously? Are these the kind of morons driving the Bitcoin boom, or is the article bullshit?

This

I agree that BitCoin will crash, it's run its course, it's become far too slow, fees are getting ridiculous, it's getting more and more centralised and it's not as private as we thought.
Monero will replace it in the long term and maybe litecoin in the short term.

The bitcoin crash coincided with EA getting investigated for lootboxes because it's fundamentally the same fucking thing. Online gambling for an end-user license to a sequence of bits.

NO
FUCKING
SHIT
On GS, whenever somebody brings up fagcoin, I mention that it's a bubble.
How do these fucks still not see this.

anyone who can't see that crypto is in a huge bubble at the moment is naive, and this is coming from someone with 500+ BTC

holy shit nigger why don't you cash out for a home?

Dude, that's more money than I'll see in my life.

Stupidest post ITT. Both for saying that people back then didn't know damn well how destructive usury was when they banned it, and for saying that usury is a solved problem in CY+2.

This, it's going to crash. Why can people not see this?

evidently we've gotten a lot wiser huh?

This.
Usury is the number one threat to every economy in the world, the longer this shitfest goes on the worse it's going to get and the harder the next crash will be.

Also, FYI I think you meant CY+3

that doesn't prove that bitcoin holds value and won't return to NULL

CY was 2015, CY+1 was 2016, and CY+2 is 2017. I meant what I said.

"Ursury" is a natural result of the difference in town preference among individuals. One in the hand is worth two in bush, as they say.

Correction: Time preference. Not town preference.

No, current year was 2014, I think your memory is off

(checked)
What are you trying to say?

There's a strong demand to circumvent the (((banks))), bitcoin will never crash unless a superior alternative takes their place.

wiki.mises.org/wiki/Time_preference

Reminder that CY was a result of retarded leftists taking our ironic shitposting seriously.

How do you feel right now?

>Anno Domini reflects the worship of a 2000 year old booze peddling (((kike on a stick)))
ADfags BTFO!

I thought this was a joke/memecoin. I rediscovered it within the last week or so and noticed the community was still active, small, but active. I decided to look further into it, I believe it has potential, it seems different than most cryptos, if anyone wants to look into the "Fuhrerprocess" that governs Adolfcoin's development here is the gitlab gitlab.com/Adolfcoin/dokumentation/tree/master

...

Daily reminder to pay capital gains tax on your crypto you fucking kikes.

normies get out!

You understand they can just use their wealth to buy it up and then manipulate the bitcoin market to their will like the majority of other finance right? All they need is a small panic cycle and then they'll end up running the bitcoin "market" by purchasing a large percentage. You could argue institutions are already doing this hence the current state of the value.

Contrary to popular belief one of the most important jobs the government has is to manage the currency. Currently the vast majority of governments have completely failed to do this and have handed over their control to private institutions. The fact bitcoin is so open like this is actually a major flaw in the context of being an actual currency.

How does that work? With stocks held in taxable account, you don't pay any tax on the profits until you sell. You can hold shares for decades and only pay the 15% at sale time.

Not using a perpetual calendar.

A unregulated market, that crash ! no way !
imagine my shock !

fucking cia glow in the dark niggers

...

:^)

$16,000 DOLLARS.

It doesn't need to crash when it's already unusable as a currency due to the pyramid scheme (transaction fees) going into overdrive.

don't do anything using this image I'm just posting it because I find stupid shapes in qrcode/captchas funny

NIA trying to pull a Napolean and make everyone believe it's going to crash so that they will sell.
Then some of their friends will buy up everything and guess who just became the next Adam Weishaupt?

never trust retards who try and use this gay jew speak on btc, stock trading is NOT btc

Crashed right into the fucking moon.

16000 DOLLARS

I'm a clueless retard on blockchain related stuff. I don't care about Bitcoin itself, but the algorithm/system behind it. How does a blockchain work? What is forking, difficulty, hashpower etc. Any good books/tutorials/lectures on this? pls spoonfeed

The fucking liberal whining about Bitcoin is unreal.

But was gold infinitely divisible in practice? I don't think so, which is why we moved to paper currency, i.e. a receipt of gold. And that was the beginning of fiat currency, since bankers could produce more gold receipts (paper money) then there was gold in their vaults.
But in theory and practice Bitcoin IS infinitely divisible and I think that's why Bitcoin keeps surviving.
They accidentally put in a way that bitcoin can be inflationary and keep circulating as currency and continue to rise in price. It's the best of both worlds!
You make money denominated in bitcoin, and it continually goes up in value. Even if you hoard it, as long as SOMEONE is willing to spend it it says in circulation.

Agreed
This makes their backwards lifestyles even more heinous though, since people in medieval times were about as smart as people today. Which is why people assume they were stupid, it's too much for people to believe someone would willingly live and form societies the way they did then. Look at the black plague, which spread because peasants were kept so stupid ignorant by the aristocracy that they drank raw sewage and didn't do basic hygiene, which was KNOWN at the time to spread disease.

youtu.be/bBC-nXj3Ng4

Half a gold nugget still has value. 1/100 of a gold nigget has value. 1/10000 has value.
Half of a penny does not have value.

We can make gold alloys. If need be, it should be possible to extract the gold back out from them.

17400

They didn't "drink raw sewage" and they did practice their era's basic hygiene. Do keel in mind the black plague was before germ theory.

I don't like kikes

We just want all the money now and you can have heaven when you die ok goyim?

...

Please tell me about the mutual Reich banks, Proudhon Hitler-kun.

May 2018

We'll see what happens to the non-physical, near unspendable, power hungry fiat currency when the world economy has an inevitable crash in a few years and everyone who invested hundreds to millions of dollars tries to cash out all at once so they don't lose their home.

Wanna bet some bitcoin on it?

And...no hard fork. NIA BTFO.

The good old days. I remember watching this live, but forgot the date. Do you remember?

Then you are saying not to invest in anything. You can not say gold because it is not a great alternative to cryptocurrency. Cryptocurrency is finite, gold is not. Cryptocurrency cannot be manipulated, gold can. Et cetera, et cetera. B.T.F.O.

Gold is not finite?
Are you referring to gold found in space?

Why the hell would bitcoin crash because Amazon accepts it as payment? The price would skyrocket like never before.

It's not a liberal vs conservative issue. It's in everyone's best interests to protect the environment. The fact that the bitcoin network currently uses as much power consumption as a medium-sized industrialized country when it's not even in usage by the mainstream is cause for concern. Hell, even if you don't care about the environment, simple logic dictates that it's unsustainable.

The prices of both are influenced by speculation. Both of them can be manipulated. With that said, which can be more easily manipulated is another question.
U WOT?

ITS GRASHING GUISE LOOK AT THE EXAMPLES I CHERRYPICKED IT ALWAYS CRASHES
I can make the exact same video and say Bitcoin always goes up, this faggot doesn't understand how crypto's work.
Keep you hands off it if you like good goyim listening to all mainstream media shilling on how it's a bubble while I'm making shekels.

Crypto's are extremely volatile but if you buy the dip and trust it can still go up in the future and have a few month's patience it'll pay off.
I was willing to take the risk when Ethereum was at €50, now it's at €700.
Ethereum has the most potential to be the crypto of the NWO, so don't hold ETH forever, but ride the wave untill you are satisfied with your gains and pull out

Snapchat of all applications was shilling bitcoin, and its impossible to count how many irl convo's I heard of normies discussing crypto. This wouldn't be a problem if Bitcoin wasn't broken to begin with. Instead of more users being good for it like we all hoped and imagined, more users only made it unusable with its ridiculous fee's and transaction times. Why do you think the devs are pushing the whole (((store of value))) meme so hard. Not just bitcoin is broken but coinbase, and all the other 3rd party services created just for crypto which shouldn't exist to begin with. And Bitcoin futures are now a thing?
What more proof do you need to see that we're in a bubble? Another successful bullshit ICO? Crypto pokemons clogging the network?

Bitcoin devs are not pushing Bitcoin as a store of value. You're thinking of Reddit.

A given Cryptocurrency is finite in that a network conforming to the defined protocol can only mine so many blocks. Unless the codebase says there can be more than n block rewards, there can be only n' times someone earns a block reward. After this, all blocks mined produce a block reward of 0 (miners earn from transaction fees). Unless a Cryptocurrency implementation has no coin limit, there is a coin limit.

Gold on the other hand, can be synthesized using a particle accelerator or nuclear fusion.

Man you missed the point of that video like heck.

BTC is fucking retarded. Allow me to demonstrate:

here, first reply that can explain how I can send the (currently) 2€ contents of that bitcoin wallet without it evaporating to network fees can have the lot

Stop being retarded, user-kun. The ability to create minuscule amounts of gold using a massive amount electricity is completely irrelevant. We cannot produce an infinite amount of electricity. Therefore, any technique that relies on it is finite.

"don't buy bitcoins"
t. JP morgan as he sniffs up as many bitcoins as his nose can suck through a cat5 cable

etc

That's quite a large leap to create a snowman. Stop being retarded.
< "We can make an insignificant amount of gold if we use an absurd amount of electricity."
< "Hey, that means gold is infinite because I assume we have an infinite amount of usable electricity"
etc.

You're missing the point, retard. Just because we can't efficiently transmute gold as of now, doesn't mean in x years we won't be able to. One day, all your gold could become absolutely worthless, assuming people still wanted it anyway. On the other hand, as long as people are still using Bitcoin, there can only be so many Bitcoins, and nothing can change that.

No, you retard, it's you that missed the point. Even if you magically are able to practically transmute gold with magic, gold would still not be infinite. Sand is not infinite. You do not know what infinite means.

Your assumptions on efficient transmutations are a big if. You are basing your decisions now on an imagined future that modern understanding cannot accomplish. Yes, it can happen, but so can any mad delusion.. You better in magic wands, because some day, you'll be a wizzard.

You should base your arguments on reality, you miserable idiot.

Sure, not infinite. Nice strawman, but you're being obtuse. Modern understanding can definitely accomplish transmuting large amounts of gold, albeit inefficiently, but that's besides the point. You're really not grasping the fact that more gold can be brought into existence, which will devalue all gold.

Then you, like a retard:

Even with the ability to turn air into gold it'd still be a more valuable currency than bitcoin, which ironically nobody except chink gold farming operations is getting rich from

You still can't make infinite gold, retard.
You just can't teach niggers.

I was making fun of you, you fucking cretin. I've not said we'll be able to make infinite gold, but potentially enough gold to devalue it to near-worthlessness. Gold is what, 1200USD/oz?

It's good that you have realized how retarded you are, but you should delete your past posts if you want to pretend that you never said the things you said.

Your claims of practically transmutable gold is based on nothing but science fiction and the idea that anything is possible in the future. It has no basis on reality. If you intend on making your future decisions this way, then you might as well enter cryogenic sleep because hey, science is advancing quickly, so they might be able to revive your popsicle of a corpse.

It's not based on science fiction, but reasonable prediction. I am not saying anything is possible in the future, and I don't know why you think I am - all I am saying is that there exists the likely possibility that it will become cost efficient when the technology is available. Are you arguing that humanity has reached the peak of technological development? That we'll never be able to produce large amounts of energy cheaply?

You're a subhuman.

any good resources on what bitcoin miners actually do?
what's the most popular bitcoin miner?

Bitcoin miners just calculate SHA-256^2 hashes with a given leading number of 0's (determined by block difficulty). Here's a video of someone explaining the process, doing it by hand: youtube.com/watch?v=y3dqhixzGVo

The most popular miners appear to be Antminers. Big initial investment but they can pay off pretty quickly.

Is it all ASIC's now?
What was the best CPU miner before it all went GPU/ASIC? Is the source available?
That video was interesting, but all it showed was the SHA-256 algorithm -- which I didn't know -- but I am looking for more specifics about bitcoin itself.
What is being hashed?
Which transactions are placed into the payload once a block is mined?
Does the miner connect to other peers like the wallet?
Things like that.

It is mostly all ASIC mining now. You can still mine with CPUs (but it's probably not worth it) and GPUs (probably not worth it, though less so). Just google "Bitcoin miner" for any source.

meep meep All your questions are answered by the wiki tbh no homo en.bitcoin.it/wiki/

thanks pal for the link

Nocoiner here. Is this my last chance to get in?

IS THIS THE DIP?

If you gotta ask then no.

Why is it likely? Do you know how much electricity is required to create gold? Do you know how much gold is created? Look it up. How will the electricity be produced? What are the advances done to move towards your fantasy?

You will find none. Because this technology only exists in your dreams. Yet, you, with completely no knowledge, are now claiming that is likely. It is not at all reasonable, and it is even dumber that you are making your present decisions on science fiction, you dumb nigger.

First, we are already producing large amounts of energy cheaply. You simply do not know how much energy is required for your purposes, and you are too dumb to realize how ridiculous it is to produce a huge amount of gold with a particle accelerator.

You have once again devolved to saying that anything is possible in the future. Because, in your niggerbrain, saying that anything is impossible invites the strawman that humanity has reached the peak of technological development even if nothing of the sort was said.

A nigger is subhuman, and you're dumber than a nigger.

It would cost over a quadrillion dollars to create one gram of gold(a 40 dollar value!) with a particle accelerator, more money than all the money in the world put together. Your so called reasonable prediction is based on nothing--as can be seen from your reasoning despite how you deny it--but the idea that anything is possible in the future. Even colonizing other planets is more feasible than your nonsense, subhuman

Anything is possible with Jesus Christ, user!

How do JS miners work? I assume all they do is load a script that connects to a mining pool and processes some jobs for said pool for a while. I assume the currencies they use for this are "easy" a la Dogecoin to ensure a constant stream of blocks.

What would be the best cryptocurrency to let my clients actively mine for a while and ensure they give me enough monies to pay for my site's premium services? What would be the best cryptocurrency to let my users mine in the background while ensuring they don't fry their CPU? Are there any "slow burning" or passive cryptobucks that benefit more from long uptimes than beefy machines? Mind you, not just talking about JS miners, but miners in general.

Yeah, and it would cost a fuckton of money to make a computer with clock speeds over 4GHz with vacuum tubes too. The thing is, people from the vacuum tubes era couldn't have foreseen the solid state revolution, and people today can't foresee the doors future technological developments will open either.

Nobody today can see perfect, practical gold transmutation, but you can, and they're wrong, and you're right. Sure.

Once again, your argument has reverted back to saying that we do not know the future, thus nothing is impossible. That's fine. It's alright to dream, but making investing decisions based on your daydreams is foolish. See you on the mars colony.

You do not know what breakthroughs are needed, nor can you even imagine what these breakthroughs are like, or even if they are possible or achievable before humanity becomes extinct. We aren't even close. Yet, like a young boy dreaming of being superman, you are sure that not only will they happen, but they will also happen soon enough to affect your investments.

You know nothing about both physics and markets. Bitcoin's price fluctuates and has been inflated through speculation. Like stocks, you can manipulate price by manipulating perception.

That wasn't me, but a different user. Which confirms my belief - you're just dense. The argument is not
but

The only "investing decision" arrived at from this statement is "gold is not an investment", and it really isn't.

You're a retard. "Bitcoin cannot be manipulated" isn't what was said, and the argument wasn't about price. "The supply of Bitcoin is finite" is what was said. The protocol is what it is, and the protocol defines the upper limit on how many Bitcoins can exist (21 million).

Without any supporting evidence. What is the reasoning for the prediction, absolutely nothing. Look at the arguments.
< Yeah, and it would cost a fuckton of money to make a computer with clock speeds over 4GHz with vacuum tubes too. The thing is, people from the vacuum tubes era couldn't have foreseen the solid state revolution, and people today can't foresee the doors future technological developments will open either.
That argument is nothing more than saying "We do not know the future, thus nothing is impossible". There is nothing reasonable about the prediction.

This is a direct quote from you, retard.
< "Cryptocurrency canot be manipulated"
< "gold is not (finite)"
I never mentioned bitcoin, and "Cryptocurrency canot be manipulated" is EXACTLY what you said. It's like I'm fucking arguing with a jew. You will shamelessly lie about your original statement that is in plain sight.

That post wasn't me, sorry mate. But to defend that user, you changed the subject - originally, the debate was about supply, and you tried to start talking about price.

Bitcoin can be hoarded, thus its supply can also be manipulated. Not that it matters of course, as supply only serves to influence the price. Therefore to manipulate the price of bitcoin, is to manipulate bitcoin itself. You can flip-flop any way you want, but to say that "Cryptocurrency canot be manipulated" is false no matter how much sophistry you apply.

Sold everything a couple days ago. No reverts.

8894

Wghat
Thu
Fucc

Whenever someone says X is being manipulated, where is X is publicly traded thing, it is understood that it is price manipulation.
< It's price can be manipulated but its supply can't be, so it's a good investment
Absolutely retarded.

Are you normalfags, who bought at 18k, contemplating suicide now that it is crashing?

I told myself I to wait until after the crash to buy in but right now I don't have the money to

BUTTCOIN SAMA Y-YAMATE

I don't own any Bitcoin.

You do know that the graph is inflation-adjustied right? it shows us that gold, even at a downswing, works as an inflation hedge better than bonds.

Yes. I used an inflation-adjusted chart to show gold is not an investment.

how did your elliot waves work out?

T-that'll show user

Yeah okay sweetums wake me up when I can use BTC to buy at my local supermarket.