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Why Bitcoins will never crash
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2018-06-22 at 9:26 AM UTCFace it bankers, we are here to stay.
Central bankers have noted that today’s cryptocurrencies could face a “complete loss of their value.” Last December, I warned investors that Bitcoin (and other “worthless” digital tokens) would stand to lose about 99% of their value before such a decentralized digital currency would ever become “the norm” in our day-to-day financial transactions. Sure, the technology is promising, but it’s way ahead of its time. There are just too many practical flaws in cryptocurrencies currently, and like high-flying tech stocks during the dot.com bust, most (if not all) of today’s cryptocurrencies will go belly up within the next decade.
The thing is, bitcoins are not stocks or bonds and they never will be, we don't want them to be but lately crypto has started to become treated like how bankers usually like to label things.
Surprisingly it does not fit the label!. Maybe this is the reason bankers hate it.. they just don't understand it. Look at this language, these people are lost and scared.
Really? Rat poison squared? They pulled the rattex card, holy fuck.
The reason all of these bankers and regulators are so triggered is because of these 'practical flaws'. Let's list some practical flaws of bitcoin.
. Courts cannot garnish Bitcoin transactions
. Facilities illegal transactions
. Untraceable
. Money Laundering
. Price Manipulation
Those seem more like features to me!. People like me that have been in since sub $100, sub $50 or even sub $1 will know that feel when you were right and the world was wrong and now they realize they are wrong so they try to tell you that you were actually wrong the entire time.
We might be wrong but we also don't give a fuck if Bitcoin is $1 or 1 million dollars because we will still use it to facilitate illegal transactions and money laundering and do it all untraceable and lose and gain our shirts in our sleeps 100 times because we ENJOY the roller coaster, the highs and lows.
If Bitcoin crashes I will simply buy more and hodl until it hits the moon again. There are only 3 sure things in life. Death, taxes and THE FUCKING MOON!The following users say it would be alright if the author of this post didn't die in a fire! -
2018-06-22 at 9:37 AM UTCi hope it crashes so i can get in that ass like i should have done almost a decade ago
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2018-06-22 at 1:43 PM UTCAnyone who deals with BC has no real money to invest.
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2018-06-22 at 2:02 PM UTC
Originally posted by mso8 i hope it crashes so i can get in that ass like i should have done almost a decade ago
You and everyone else like you will do that, refloat the price based on speculation, then realize nobody will accept your money, because the only people demanding it and floating the price are... You speculators.
Bitcoin was an interesting first project but it seems inevitable that currencies like Ethereum or Monero will take over and solve all the current practical issues.The following users say it would be alright if the author of this post didn't die in a fire! -
2018-06-22 at 3:44 PM UTC
Originally posted by Captain You and everyone else like you will do that, refloat the price based on speculation, then realize nobody will accept your money, because the only people demanding it and floating the price are… You speculators.
Bitcoin was an interesting first project but it seems inevitable that currencies like Ethereum or Monero will take over and solve all the current practical issues.
whats the problem then. i just need to sell to speculators once i get an acceptable profit margin and get out before shit goes south. thats assuming you are right in what you say. -
2018-06-22 at 4:21 PM UTC
Originally posted by joerell Anyone who deals with BC has no real money to invest.
Prove it
Originally posted by Captain You and everyone else like you will do that, refloat the price based on speculation, then realize nobody will accept your money, because the only people demanding it and floating the price are… You speculators.
Bitcoin was an interesting first project but it seems inevitable that currencies like Ethereum or Monero will take over and solve all the current practical issues.
There is no practical issue, price speculation is all jedi bullshit. At the end of the day it is a medium of exchange and its value is irrelevant. People will use it for what it's best at and that is e commerce.
The only other coin you wanna use is LTC because it's cheap but big enough to be used on a wider scale.The following users say it would be alright if the author of this post didn't die in a fire! -
2018-06-22 at 4:43 PM UTCbitcoins will never crash until all the supply of retards have been exhausted.
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2018-06-22 at 4:45 PM UTC
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2018-06-22 at 5:09 PM UTC
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2018-06-22 at 5:21 PM UTC
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2018-06-22 at 5:23 PM UTCBitcoin will most definitely fizzle out when other, more useful coins are made readily available. LTC and ETH have already taken over as the main vessel. During the peak this past winter, BTC wasn't moving much. It's far too slow to be useful for much longer.
Coins like XRP on the other hand, handle the stress very well. Transactions in seconds vs the hours and days with ETH/BTC. -
2018-06-22 at 5:27 PM UTC
Originally posted by Ensign §m£ÂgØL Bitcoin will most definitely fizzle out when other, more useful coins are made readily available. LTC and ETH have already taken over as the main vessel. During the peak this past winter, BTC wasn't moving much. It's far too slow to be useful for much longer.
Coins like XRP on the other hand, handle the stress very well. Transactions in seconds vs the hours and days with ETH/BTC.
The problem with altcoins though is they are even harder to sell than BTC. Transactions might take forever but you can have BTC sold on LBC and just wait for the network in a few hours versus having to use one of the many fucked exchanges to offload LTC. -
2018-06-22 at 7:47 PM UTC
Originally posted by mso8 whats the problem then. i just need to sell to speculators once i get an acceptable profit margin and get out before shit goes south. thats assuming you are right in what you say.
Because you don't know when it's going to bust. You might literally purchase it and hodl for that profit margin and have it bust tomorrow. That's why it is called speculation. Every dick has already thought of this. You are probably 8 moves behind the curve. If you have the discipline for it then you can try but it is a stupid investment. Treat it like a gamble. -
2018-06-22 at 8:05 PM UTC
Originally posted by Ghost There is no practical issue, price speculation is all jedi bullshit. At the end of the day it is a medium of exchange and its value is irrelevant. People will use it for what it's best at and that is e commerce.
Transaction processing limits, for example, are an actual problem that will kill BTC if you ever try to scale it and use it as a real currency.
And the problem with it being a medium of exchange is adoption: currently bitcoin is used as a medium of exchange for drugs, stolen credit cards and child porn, basically. If more places accepted it, it would be more viable (although still doomed). But unless that happens, BTC is only valuable because you can convert it into USD or other actual currencies. Nobody is using it as a medium of exchange itself for things you actually need. If I could pay for all of life's necessities with Bitcoin, we could have a discussion. But you can't, so we can't. It's a chicken or egg situation and unfortunately the chicken is backed by governments that have guns. -
2018-06-22 at 8:13 PM UTC
Originally posted by Ghost The problem with altcoins though is they are even harder to sell than BTC. Transactions might take forever but you can have BTC sold on LBC and just wait for the network in a few hours versus having to use one of the many fucked exchanges to offload LTC.
You're not making any principal arguments for BTC or against altcoins. Yeah no shit BTC works RIGHT NOW. It's not going to hold up forever, or even for that much longer. -
2018-06-22 at 8:22 PM UTC
Originally posted by Ghost The problem with altcoins though is they are even harder to sell than BTC. Transactions might take forever but you can have BTC sold on LBC and just wait for the network in a few hours versus having to use one of the many fucked exchanges to offload LTC.
Coinbase announced 18 new fiat to alt transactions available this year. BTC will be fizzling out in the next few years. The technology is just too old to keep up.
Not making the switch to altcoins would be absolutely ludicrous. Why would people want to use such slow technology? XRP takes seconds. Even in an active market. -
2018-06-22 at 8:43 PM UTC
Originally posted by Captain Because you don't know when it's going to bust. You might literally purchase it and hodl for that profit margin and have it bust tomorrow. That's why it is called speculation. Every dick has already thought of this. You are probably 8 moves behind the curve. If you have the discipline for it then you can try but it is a stupid investment. Treat it like a gamble.
i know that speculation is risky business but realistically speaking its not going to crash RIGHT after it crashes. in theory it is possible but what makes you say that it will?
