I still think BTC is going to zero, unless someone can tell me....

[LinuxJon]

Wtf asset class it's supposed to be.

Currency? Okay. Show me who is actually buying and selling using BTC as the native payment method. Could your parents pay their mortgage or buy their groceries in BTC?

Okay so not currency. It's a commodity then, right? Okay. What is its utility? Because something can't be a commodity if it's only used as a store of value.

If you say blockchain is the utility, that's fine too. Except BTC doesn't own blockchain and its uses for other things has no benefit to BTC.

You're left with this being a fully speculative investment. Which is exactly how things go to zero.

[CanuckGame]

Keep coping nocoincel.

[crupiea]

I dont think it will because criminals and politicians and such need it for money laundering purposes.

It will hang around as long as they have a need for it which will be a very long time most likely.

[kusok]

In an entire country El Salvator, it’s actual currency.

It’s a store of value. To protect yourself against dollar debasement. Since bitcoin supply is limited.

BlackRock, biggest money runners on Earth, with trillions of dollars under management, would not offer an ETF if there was a chance of this going to zero. It has a long track record by now.

[artm]

I'm not a coincel but I think it will go higher, people are dropping money into it because of fomo.

[Kiop]

we cant guarantee our
selfs if we will be alive
or healthy by tomorrow or after couple of days.
so your point of view is valid,enjoy it as it last.
in the ass.

[kusok]

I dont think it will because criminals and politicians and such need it for money laundering purposes.

It will hang around as long as they have a need for it which will be a very long time most likely.

Money laundering is much easier done with dollars. Terrorists regularly appeal to their supporters to NOT help them with crypto donations, since it’s all on-chain, and transparent.

[omnip0tent]

Wtf asset class it's supposed to be.

Currency? Okay. Show me who is actually buying and selling using BTC as the native payment method. Could your parents pay their mortgage or buy their groceries in BTC?

Okay so not currency. It's a commodity then, right? Okay. What is its utility? Because something can't be a commodity if it's only used as a store of value.

If you say blockchain is the utility, that's fine too. Except BTC doesn't own blockchain and its uses for other things has no benefit to BTC.

You're left with this being a fully speculative investment. Which is exactly how things go to zero.

I think its usefullness is kinda like the 2A. None of us are killing intruders or criminals daily. But the fact that its our right and would be our force/violence multiplier against other potential violence/force actors makes it something that will never die.

Same with Coins. Decentralized currency not controlled by the banks or govt? The idea will never die as long as we have electricity.

[HMFIC_BROWSIN]

I believe crypto is setting up for the largest black swan event ever seen in the history of financial markets.

I understand all your points OP, but let's say there's some backdoor code written in that allows a complete hack & purge of the coins, and let's say AI decodes this fault, and sends all the chitcoins to literally zero.....

Would ANYBODY actually be surprised? No, no they wouldn't.

In b4 "hurrrrrr you obviously are retarded because that's impossible!"

Do yourself a favor and Google "black swan event"

[Titansfan08]

Inb4 hair set one fire once again

[ThatGuy950]

I believe crypto is setting up for the largest black swan event ever seen in the history of financial markets.

I understand all your points OP, but let's say there's some backdoor code written in that allows a complete hack & purge of the coins, and let's say AI decodes this fault, and sends all the chitcoins to literally zero.....

Would ANYBODY actually be surprised? No, no they wouldn't.

In b4 "hurrrrrr you obviously are retarded because that's impossible!"

Do yourself a favor and Google "black swan event"

I’m a dedicated coincel but I agree, this is certainly possible.

I’m curious how the rise od quantum computing will hit crypto, probably some supercomputers in a few years will have the capability to break it all and zero it out overnight

[LinuxJon]

Keep coping nocoincel.

Bro I bought four Rolexes last year. I'm doing fine. lol

[LinuxJon]

In an entire country El Salvator, it’s actual currency.

It’s a store of value. To protect yourself against dollar debasement. Since bitcoin supply is limited.

BlackRock, biggest money runners on Earth, with trillions of dollars under management, would not offer an ETF if there was a chance of this going to zero. It has a long track record by now.

Why would BlackRock care? They have the insider knowledge to beat the market on absolutely any investment. They also only hold $500m worth of coins... out of $10t assets under management. So 0.5% of their portfolio. That's like the average American holding $500 of BTC in their $100k IRA. If it went to zero they wouldn't even notice.

[MarioMiami305]

It's literally a speculative asset that is used by gamblers to trade on their phones with. That's why the dumps are glorious. Check out the dump that just happened from 68k to 63k that happend 30 minutes ago.

It is 100% going to be severely regulated by goverments or outright banned and it will go to zero.

It went from 71k to 10k three years ago.

Nothing but a ponzi scheme and retailers will hold the bags again.

Its not recession proof like gold and it will be the first asses sold off in a financial crisis or recession - something it markets itself as a safe haven for.

Gold is still the best assest for protection and it's on the path for a huge bull rally. 5k within 5 years. mark it. 2400 oz by end of year.

[baldbrah]

It's the definition of a ponzi scheme.

[LinuxJon]

I’m a dedicated coincel but I agree, this is certainly possible.

I’m curious how the rise od quantum computing will hit crypto, probably some supercomputers in a few years will have the capability to break it all and zero it out overnight

Quantum computing is still a pipe dream at this point. But if it ever does happen, BTC will only be one small part of the problem. The real problem is that it could immediately break AES and RSA encryption that traditional banks use. Meaning that all of the ways we currently store and move money would be useless.


I actually think that- if it was to actually work- quantum computing would be worse than AI in terms of a threat to humanity. Our entire existence right now relies on encryption. From banking to email to nuke launch procedures.

[sf813]

I don't think the main governments would allow bitcoin and it'll be nothing more than a speculative bubble before collapsing like the past Dutch tulip bulb market bubble which collapsed

Govts want to track where money goes and tax it every chance they get so they will not allow some digital currency to get a footing

[kusok]

Reading this thread makes it clear, some people don’t want to make money, nor learn from history, it’s fine. Carry on. Buy 4 Rolexes. Whatever makes you happy.

[6gorillion]

Reading this thread makes it clear, some people don’t want to make money, nor learn from history, it’s fine. Carry on. Buy 4 Rolexes. Whatever makes you happy.

dude buys a Rolex but drives a Subaru, you think hes smart?

[Destor]

At least you can wear watches and appreciate the work / craftsmanship that go into them, but they're also largely used as stores of value and for speculation these days

I have a hard af time buying into any non-productive asset

[Berts]

Its a store of value which you don't need anything physical, its all about perception and even the SEC perceives BTC as a asset and store of value. Spot ETF. BTC for a brief moment today flipped silver for market cap. Keep not believing but if you are not buying crypto with money you can afford to lose, you are doing it wrong.

[kusok]

It's literally a speculative asset that is used by gamblers to trade on their phones with. That's why the dumps are glorious. Check out the dump that just happened from 68k to 63k that happend 30 minutes ago.

It is 100% going to be severely regulated by goverments or outright banned and it will go to zero.

It went from 71k to 10k three years ago.

Nothing but a ponzi scheme and retailers will hold the bags again.

Its not recession proof like gold and it will be the first asses sold off in a financial crisis or recession - something it markets itself as a safe haven for.

Gold is still the best assest for protection and it's on the path for a huge bull rally. 5k within 5 years. mark it. 2400 oz by end of year.

Be careful. I did all the same nonsense when I was your age, listened to Ron Paul, bought Gold etc. I would literally be worth 100 mil today if I simply bought some bitcoin and held. No need to sell or even check the market. Just hold. Don’t make my mistakes.

[MarioMiami305]

Be careful. I did all the same nonsense when I was your age, listened to Ron Paul, bought Gold etc. I would literally be worth 100 mil today if I simply bought some bitcoin and held. No need to sell or even check the market. Just hold. Don’t make my mistakes.

Ponzi scheme 101.

1.Tell people how great BTC and to buy it.

2.Pump the price up so it goes up

3.Sell BTC to the sucker who bought it at a high price for USD to get rich

Ponzi scheme 101,.

[Destor]

You need to sell things to actually do good things in the real world. People generally shouldn’t be taking loans out against stock holdings because volatility etc can lead to margin calls that result in forced selling at bad times — this is exactly what happened to a bunch of people I talk to who were heavy in Tesla

But I’d be surprised if lenders are allowing any debt to be collateralized against crypto

[8pieces]

i think it will keep going up and they will do something by law to make the price drop drastically similar to covid but worse. to think the government will allow an unregulated currecency with trillions of dollars exist is hilarious. they are going to screw everyone. but the entire purpose of the currency was that but most holders are boot lickers and will fear what the government will do

[mulletwarrior]

Its a collectible, like art, baseball cards, rare coins, etc.

DFS

[DrugsToGetBig]

jfl


yeah itll be going to zero any day now

[Duckliver]

It will go to zero when quantum computing can instantly solve the equations

We are far away from that point I do believe

But that will kill it, until technology catches up to that point it’s fine. But quantum computing on that level would end its relevance.

[mixednutz]

If you are really serious about it OP; read or listen to the book "The Bitcoin Standard".

[Berts]

I think what people love about BTC is it has a cap on supply, and its worldwide. Its scarce and will scarce forever. Once BTC has 21 mil mined, that's it forever. Unlike the US Fiat Dollar that we keep printing and literally giving away trillions of it to random counties and people. Same with a CBDC, the government will be able to make more as they wish when they wish. Full control of your money.

I'm not a BTC homer, I do not have any. I like Alts because there are some insane ecosystems. Thousands of Dapps, tons of DEX's, etc. Blockchain tech is amazing and interesting.

People love they control it, its instant and the fees are crazy low for most Alts. Which is what currency should be. Why in 2024 does it take days to send money and on top of that you have to pay a bank a fee. It's insane. I'm talking real money, not $100.