Cryptocurrencies hold no real value

[BigBiceps]

Cryptocurrencies will never become actual day to day currencies. Not Bitcoin, not Ethereum, ans god no that awful dogecoin. It is like the tulip mania all over again. For anyone not familiar with the tulip mania it was a "investment" bubble in the Netherlands where the prices of newly introduced tulip bulbs skyrocketed, and later collapsed nearly overnight. People thought that tulip bulbs were a sure investment, as the prices would only go up, despite there being no actual value in them. The very same elements can be seen in cryptocurrencies. In 10 years, nobody but a few crazed up lunatics will use cryptocurrencies. Mark my words.

 

[Deleted member 7224]

: brah crypto is future u know nothing about it!

 

[redpilledboomer]

 

[Deleted member 14323]

just make money off it while you can

 

[DesperadoRatado]

no shit bigbiceps

 

[metagross]

Bitcoin only has a fixed amount of coins. The supply is limited. So I don't think it's comparable to tulips.

 

[BigBiceps]

Bitcoin only has a fixed amount of coins. The supply is limited. So I don't think it's comparable to tulips.

And what will happen once the supply has run out? Most of the mining will stop, and the transactions will become EVEN slower and expensive as they're now.
It's just waiting to collapse once the supply hits 21 million.

 

[Deleted member 14203]

There is value in a limited resource that can be exchanged anonymously and transfered instantly. But unfortunately Bitcoin is neither of those things. Some other cryptos are but they are probably overvalued themselves

 

[MikeMew'sBitch]

Money/fiat doesnt have intrinsic value either. Its just a piece of paper rofl. Im sure you will eat your words in 10 years tho, i hear same shit every year and crypto always goes up and up and up every year. Also lol at comparing crypto with fucking flowers, you mad nigga

 

[hebbewem]

And the value change are to extreme to be relibable currency

 

[Amnesia]

can someone explain why cryptocurrencies are valuable when theres an unlimited supply of different cryptos that can be created? bitcoin litecoin dodgeecoin etc theres no finite supply when another shitcoin can be created that has all the same features as bitcoin

 

[BigBiceps]

Money/fiat doesnt have intrinsic value either. Its just a piece of paper rofl. Im sure you will eat your words in 10 years tho, i hear same shit every year and crypto always goes up and up and up every year. Also lol at comparing crypto with fucking flowers, you mad nigga

Yes it does. Money has value backed by government, and it's in governments best interest to keep that value steady. The value of cryptos is entirely based on how willing people are to buy said crypto.
That's exactly what they said about tulips too, they'll only go up. Why not pay 5 years salary for this rare tulip bulb, when you can sell it in a month for 10 years salary? Needless to say it doesn't work like that. All bubbles are bound to burst.

 

[Entschuldigung]

If you think about money is Jewish trickery

 

[Deleted member 6380]

Water

 

[BigBiceps]

can someone explain why cryptocurrencies are valuable when theres an unlimited supply of different cryptos that can be created? bitcoin litecoin dodgeecoin etc theres no finite supply when another shitcoin can be created that has all the same features as bitcoin

Their value is entirely based on greedy gamblers who believe their value will go up. And at first, that may be the case for a coin, if that coin gains enough hype for some exciting new, yet useless feature. Then when another more exciting useless coin comes out and the hype moves to it, the shitcoins value crashes to the floor, and there's always some miserable idiots who lose everything they had overnight.

 

[BigBiceps]

If you think about money is Jewish trickery

But at least money is real. Crypto is nothing, and will never be anything more than a slots machine.

 

[Deleted member 6963]

Most cryptocurrencies won't exist in 10 years.
Some hold real value though.
I have a feeling that for many technically legit projects the token is not needed. Just an other source of revenue instead of selling shares.

can someone explain why cryptocurrencies are valuable when theres an unlimited supply of different cryptos that can be created? bitcoin litecoin dodgeecoin etc theres no finite supply when another shitcoin can be created that has all the same features as bitcoin

Some projects try to solve problems. Whether those problems are "real" is an other question.

 

[MikeMew'sBitch]

Yes it does. Money has value backed by government, and it's in governments best interest to keep that value steady. The value of cryptos is entirely based on how willing people are to buy said crypto.
That's exactly what they said about tulips too, they'll only go up. Why not pay 5 years salary for this rare tulip bulb, when you can sell it in a month for 10 years salary? Needless to say it doesn't work like that. All bubbles are bound to burst.

Saying "its just like tulips lolz" is same retarded argument i hear from crypto haters and boomers all the time. Theres no point in arguing as ive heard this many times, the point is, Michael Saylor will be the most powerful man in 10 years, you will regret it not investing in BTC or at least ethereum (several of intitutions in my country are already using it) and everyone who invested will see big returns in coming years. You haters (of which most that i know are boomers) are just doing yourself a disservice by rejecting the future of finance.
I am already in more than 10 000% profit since i started investing and ive been hearing same retarded arguments against it all the time.

 

[Deleted member 15129]

can someone explain why cryptocurrencies are valuable when theres an unlimited supply of different cryptos that can be created? bitcoin litecoin dodgeecoin etc theres no finite supply when another shitcoin can be created that has all the same features as bitcoin

It's the same as money, it's valuable because of speculation, and the "mining". Basically you solve a hard math equation with your computer to verify a trade, and get value out from it. Unless people use it as actual currency tho, it basically means nothing. Mainly cryptos are used for drugs

 

[Amnesia]

It's the same as money, it's valuable because of speculation, and the "mining". Basically you solve a hard math equation with your computer to verify a trade, and get value out from it. Unless people use it as actual currency tho, it basically means nothing. Mainly cryptos are used for drugs

i mean when u put all different cryptos together u basically have an unlimited supply esp cause new ones can be created. new eaning new types of coins

 

[BigBiceps]

Saying "its just like tulips lolz" is same retarded argument i hear from crypto haters and boomers all the time. Theres no point in arguing as ive heard this many times, the point is, Michael Saylor will be the most powerful man in 10 years, you will regret it not investing in BTC or at least ethereum (several of intitutions in my country are already using it) and everyone who invested will see big returns in coming years. You haters (of which most that i know are boomers) are just doing yourself a disservice by rejecting the future of finance.
I am already in more than 10 000% profit since i started investing and ive been hearing same retarded arguments against it all the time.

Ethereum is a big massive scam. You literally have to pay 30-50 dollar transaction fees for every transaction. Even if it doesn't go through. It will NEVER become viable currency. Never. Bitcoin bubble will burst soon, too, as mining will become unprofitable, and this will massively slow down the speed of transfers and increase the transaction fees.

The time of these foolish magic coins is coming to an inevitable end.

 

[John124]

can someone explain why cryptocurrencies are valuable when theres an unlimited supply of different cryptos that can be created? bitcoin litecoin dodgeecoin etc theres no finite supply when another shitcoin can be created that has all the same features as bitcoin

Originally it was feeless money transfers across borders and a limited supply but now there is crypto banking and 24/7 pure unregulated market. Everything with real value has already been inflated to the point where you are unlikely to see significant returns in the next decade (bonds, stocks, real estate, etc.) so to get a return wall street is doing their usual pump & dump tactics but in the crypto market where there's zero regulation.

If you remember gamestop so many hedge fund managers were pissed and they called it financial terrorism and shit but basically what they did is blow up a hedgefund's overleveraged position. Basically no investments are yielding real returns anymore so they are literally stealing from each other using leverage & social media to pump their trades.

But back to crypto, it's going to allow for faster, more efficient financial markets with less capacity for national governments to regulate activities. You can see it right now there are planned crashes/bear markets where investors with deep pockets FUD the shit out of crypto and stress/pressure retail investors to sell at a loss, meanwhile they buy it all up at a 50% discount. Then it randomly pumps for no reason and normies buy back in at the inflated price. Meanwhile it's big money unloading it's bags. Then they short sell it back down again, etc.

 

[Deleted member 15129]

i mean when u put all different cryptos together u basically have an unlimited supply esp cause new ones can be created. new eaning new types of coins

exactly thats why the shitcoins are usually worth nothing. It really comes down to usability, and the amt of supply. For example back when we used gold instead of fake magic money, if someone found out california was ENTIRELY made out of gold, the us dollar would be nothing, because theres too much supply. with fiat currency like the current dollar and crypto, it has to be engineered so that only so much comes out at one time.

anyways I don't think this shit is gonna matter in the future. too many people will be homeless because AI is gonna take their shitty minimum wage jobs, and the govt will just have to provide

 

[Deleted member 14774]

can someone explain why cryptocurrencies are valuable when theres an unlimited supply of different cryptos that can be created? bitcoin litecoin dodgeecoin etc theres no finite supply when another shitcoin can be created that has all the same features as bitcoin

I don’t know about the others, but the supply of bitcoin is limited to 21 million. At the moment people can still mine it and create more because there’s less than 21 million, but soon they won’t be able to, not sure exactly when but within a few years I think. And yes there’s no reason why someone can’t copy the code for bitcoin and create a new cryptocurrency, but that won’t matter, because a lot of value in general is based on people’s perceptions / brand image and Bitcoin is the crypto that people perceive has value, as it’s stood the test of time and came back from the 2017 crash and reached new highs, and huge institutions are backing it now. A new crypto would take a long time to get all of that stuff which would be illogical for anyone to try and repeat when Bitcoin already exists

 

[Deleted member 14774]

I think a lot of doubters of bitcoin in particular don’t understand the value of decentralised currency. At the moment the government can do whatever they want to our currency like printing trillions for whatever they want or freezing peoples accounts if they break the law. By the way, whenever they print new money it devalues everyone else’s existing money, but they don’t tell you this. Nobody can print more bitcoin after 21 million, so it’s a store of value like gold. Also, you can just transfer it between accounts as long as you have the internet, without any authority controlling it. Imagine you commit a crime and steal hundreds of millions, if you put it into bitcoin before you were caught, the government would never be able to get that money back unless you tell them your private key
But yeah there’s still some risks like if the governments decide to ban the exchanges then the price could crash

 

[Deleted member 14774]

Anyone hating on cryptos should look into the current economy, there’s a huge crash coming soon and the dollar will become almost worthless, so this environment makes sense to invest in things like bitcoin and gold. Most of the smartest people in finance have positions in gold, and bitcoin is like a digital gold but with higher risk/reward

 

[BigBiceps]

Anyone hating on cryptos should look into the current economy, there’s a huge crash coming soon and the dollar will become almost worthless, so this environment makes sense to invest in things like bitcoin and gold. Most of the smartest people in finance have positions in gold, and bitcoin is like a digital gold but with higher risk/reward

Bitcoin is nothing like digital gold. The thing about gold is that there are very small risks/rewards, whereas bitcoin, as you said about yourself is very high risk/reward. More so than regular stocks.
In case of another stock market crash, bitcoins price will plunge all the same, as investors withdraw their bitcoins to cover their other losses.

 

[Baldingman1998]

COPE. Crypto has value because people give it value on the free market.

 

[BigBiceps]

COPE. Crypto has value because people give it value on the free market.

And can choose not to all the same. Nobody will even remember cryptos in 10 years, after bitcoin becomes unusable when mining becomes unprofitable, all the alt coins will crash too.

 

[Deleted member 5786]

thoughts on crypto @subhuman incel

 

[subhuman incel]

thoughts on crypto @subhuman incel

dont need it i have enough money already from NEET

 

[bwrauycnee]

The only intrinsic value Bitcoin has is the work it took to mine them. But that’s definitely not worth 60k per coin. Given the lack of regulation, governments just might crack down on it, preventing widespread adoption.

 

[BigBiceps]

The only intrinsic value Bitcoin has is the work it took to mine them. But that’s definitely not worth 60k per coin. Given the lack of regulation, governments just might crack down on it, preventing widespread adoption.

Governments doesn't need to do anything. If they would, they'd have already done it. Around 18.5 million of 21 million bitcoin have been mined. As the number gets closer and closer to 21 million, mining becomes increasingly unprofitable, which slows the transfers and increases the transaction fees, which will ultimately end up killing bitcoin.

 

[bwrauycnee]

Governments doesn't need to do anything. If they would, they'd have already done it. Around 18.5 million of 21 million bitcoin have been mined. As the number gets closer and closer to 21 million, mining becomes increasingly unprofitable, which slows the transfers and increases the transaction fees, which will ultimately end up killing bitcoin.

Man I hope that happens soon.

 

[MiroslavBulldosex]

low iq

 

[Deleted member 9274]

So is it still worth it to invest for the upcoming years (3-5) and after that it's over or should i just throw the idea of investing out of the window rn?

 

[MiroslavBulldosex]

Governments doesn't need to do anything. If they would, they'd have already done it. Around 18.5 million of 21 million bitcoin have been mined. As the number gets closer and closer to 21 million, mining becomes increasingly unprofitable, which slows the transfers and increases the transaction fees, which will ultimately end up killing bitcoin.

You really haven't done any research on the topic