Buttcoin

Crypto will never die and the tech is still advancing the usability.
It's still in a rather precarious place atm tho with tether. Once that bubble pops even more normie and major (((financial))) will pull out which will likely bring Bitcoin back below 10k but it'll be better for the health of the market and crypto all together. I do feel bad for all the people who'll lose money in insolvent exchanges.

>he doesn't know about the (((chosen meme)))
Lurk 5 aeons before posting.

It will plummet straight to zero. Bitcoin has no value other than as a speculation and trading tool. To someone who has no intention of using it as money, it's worth is nil. Physical money can be used for collection purposes, hanging in a frame on the wall, and if nothing else they're worth their weight in paper and metal - the only two factors that keep them worth more than absolute nothing. You can't do either with bitcoins.

But they're inaccessible outside of a specific set of circumstances involving a computer. Even if the US collapses tomorrow I could use my fiat money as firestarter or toilet paper. Bitcoins are nothing more than microscopic bumps on a hard drive that are useless. The only thing that gives them value is whatever dipshits assign to them because they think if they hoard enough they can sell them for actual money. Bitcoin started out as an okay niche currency to buy drugs and porn, but no one uses them for anything anymore, they just want to horde and dump.

Cryptocoins fall almost perfectly neatly under definition of a ponzi scheme, with the biggest difference being absence of a central con man controlling the whole deal directly, instead everyone is their own scammer. Distributed scam operation.

Well kind of, the people at the top of the pyramid are those who bought in first, or those who created the currency and gave themselves a starting reserve. I see what you're getting at though

Technically in a pyramid you pay to join but then you charge recruits and that's the only way for you to make money. Even though top of the pyramid profit "legitimately", the bottommost layer of the pyramid is always larger than entire structure on top of it, so there are always more people who just lost their money. It's not so much of a scam as a gamble of joining it early on and recruiting more suckers later on. Ponzi scheme is a clear cut scam. It poses itself as a legitimate business investment with high return on investment, however the money goes towards the head of the operation. They issue reports that say that investors' profits are growing and encourage them to keep the money in, the company is "showing" good growth and investors flock to it; to keep them flocking there are payouts in reasonable amounts. But eventually the investing stream dries up and at that point the scammer vanishes with all of the money. That of course won't happen with bitcoins, but as more people want to sell than there are people who want to buy, its cost will drop, which will trigger further sell-offs on one hand and rapid value deterioration will disincentivise buying and will drive prices even lower on the other hand.

A universal trading tool is not a trivial source of value. Bitcoin's long-term success is dependent on this purpose alone. Ironically, the more normalfags leave the Bitcoin world, the better it is at being a currency (its original purpose) as small transactions won't be prohibitively expensive. Volatility is the big killer here.

A distributed blockchain serves as a near-indestructable and universally-accessible store for small, unfalsifiable notes. That's far more useful than decoration.

You don't make any money holding cryptocoins unless you sell them, and then your profits eat away at your whale status. To call that a pyramid scheme is facetious.

*quantum teleports behind you*
*unsheathes superconductive junction*
pssh.... nothin personnel......... kid

calling it "buttcoin" points out that you only see bitcoin as an investment or stock or some other normalfag instrument and not something of technical merit. so this thread is off topic and you should be banned