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Bitcoin. How many other Wizards, other than myself, missed out on their chance to eternal NEETdom? Personally, I've been aware of Bitcoin since 2009. I even mined it for a time before giving up. To rub salt in the wound further, I was even friends with many people who invested in it, yet never followed their example myself. While this is mostly due to the fact I was rather young at the time, even a small change of heart would have made me a millionaire right now.
For a long time, you were either born into riches or worked hard to get there. Now you'd be rich if you put spare change into internet funny money years ago. It's not fair, bros. And the regret will haunt me for the rest of my life.
If you have some crypto regret stories, share them in this thread so that this poor wizard might not feel alone in their mistake anymore. Wagecucking is so much more painful when you know you could have avoided it entirely.
For a long time, you were either born into riches or worked hard to get there. Now you'd be rich if you put spare change into internet funny money years ago. It's not fair, bros. And the regret will haunt me for the rest of my life.
If you have some crypto regret stories, share them in this thread so that this poor wizard might not feel alone in their mistake anymore. Wagecucking is so much more painful when you know you could have avoided it entirely.
Yeah, I wanted to buy some but I wasn't able to get the wallet linked to my bank or whatever. My friend made hundreds of thousands from it.
It's best not to think what could have been and instead focusing on what could still be. Yeah you didn't take a gamble ten years ago and walk away a millionaire, but that happens to countless people every day. Anyone who invests in stocks or crypto laments over all the lines of text they didn't buy in to. Call me a normalfag for suggesting this, but if anything you should be glad that you didn't buy in to something that flopped (which is most stocks/crypto). You're doing better than millions of smug managers, bullies, breeders, entitled brats, and E-Succubi that lost it all because they felt that they were infallible just by being them.
New coins come out all the time. They probably won't be the next bitcoin, but buying $2.00 of coins worth $0.01 each will pay off when those coins make it past the common threshold of $1.00. Next time you feel like buying in to a vice of yours, put that pocket change in to a few penny coins instead, keep your key/account information on paper, and in 10 years you might walk away with enough money to buy some time off work.
I tell you this but I don't actually follow through with my own advice. Buying coins is just one too many clicks to keep me interested. I would argue with someone who says they don't buy any because it's all a scam that will never pay off, but I'd sympathize if some anhedonic wiz who said he trusts that the return is there but couldn't commit just out of sheer laziness.
I have a few thousand worth of a coin I'm certain will shoot up to make me hundreds of thousands, but life is going to force me to cash out. Forget not buying a magic money machine. Having to sell the machine you bought to pay landlords before even getting to turn it on is gutwrenching.
>I was even friends with many people
sage
>>230601
>My friend made
rage
New coins come out all the time. They probably won't be the next bitcoin, but buying $2.00 of coins worth $0.01 each will pay off when those coins make it past the common threshold of $1.00. Next time you feel like buying in to a vice of yours, put that pocket change in to a few penny coins instead, keep your key/account information on paper, and in 10 years you might walk away with enough money to buy some time off work.
I tell you this but I don't actually follow through with my own advice. Buying coins is just one too many clicks to keep me interested. I would argue with someone who says they don't buy any because it's all a scam that will never pay off, but I'd sympathize if some anhedonic wiz who said he trusts that the return is there but couldn't commit just out of sheer laziness.
I have a few thousand worth of a coin I'm certain will shoot up to make me hundreds of thousands, but life is going to force me to cash out. Forget not buying a magic money machine. Having to sell the machine you bought to pay landlords before even getting to turn it on is gutwrenching.
>I was even friends with many people
sage
>>230601
>My friend made
rage
it turned out to be a scam just like everything on the internet yes some lucky fools made it through but it was just them standing in the spot that handed out winning lottery tickets at a lucky time
most people that got into crypto are eternally butthurt over it and 99% of them turned out to make huge losses but of course you'll never read those only the fake success stories
most people that got into crypto are eternally butthurt over it and 99% of them turned out to make huge losses but of course you'll never read those only the fake success stories
>>230600
My cousin tried to get me to invest in bitcoin in 2014, but I was too retarded and depressed to do it. I would have made around $30000 if I had invested a few hundred dollars.
My cousin tried to get me to invest in bitcoin in 2014, but I was too retarded and depressed to do it. I would have made around $30000 if I had invested a few hundred dollars.
Yes wizzie, I remember seeing many bitcoin threads in 2008/9 - I was too young to give a fuck. I scrolled past all those nerdlord currency threads on sight, because they got in the way of my hentai or whatever.
There were threads legitimately just saying "invest in bitcoin!" - on 7chan especially, iirc, and I completely ignored them. Hide thread, scroll.
Perhaps I could be a millionaire right now if I had been a few years older/less retarded at that time. Probably some of those people from 2009 are millionaires?
Instead, I need to wageslave forever or suicide (or both).
Mind you, imagine the people who did buy bitcoin at the time, then when the value went up they'd lost/thrown out their wallets. I have less regret from overlooking potential millions than I would from losing actual millions. That's a frightening thought.
There were threads legitimately just saying "invest in bitcoin!" - on 7chan especially, iirc, and I completely ignored them. Hide thread, scroll.
Perhaps I could be a millionaire right now if I had been a few years older/less retarded at that time. Probably some of those people from 2009 are millionaires?
Instead, I need to wageslave forever or suicide (or both).
Mind you, imagine the people who did buy bitcoin at the time, then when the value went up they'd lost/thrown out their wallets. I have less regret from overlooking potential millions than I would from losing actual millions. That's a frightening thought.
I had some bitcoin from when it started since I used to hang around anarchist cyberpunk forums, economic secession was a thing. I calm myself knowing I was broke when it was worth $10, $100, and $1000. I would have sold it to pay rent multiple times. I wouldn't have kept until it was worth so much.
>>230615
That's true, you'd have to be a fanatic to not sell by $100 at most.
A lot of people who made it big recovered Bitcoin they had forgotten about, so they weren't tempted to sell at any of the old highs.
That's true, you'd have to be a fanatic to not sell by $100 at most.
A lot of people who made it big recovered Bitcoin they had forgotten about, so they weren't tempted to sell at any of the old highs.
I literally tried to invest 20k into it at a point when I could have multipled my money by like 10 times but the exchanges locked me out. They proved long ago that the markets are manipulated by a single large player who can create up and down swings however he wants them to funnel money from unsuspecting rubes. I had timed it perfectly but they locked me out and I was too lazy to sign up for another exchange.
>>230600
Oh no the crypto regret wizzie is back with his daily "tfw no crypto millionaire" threads.
Oh no the crypto regret wizzie is back with his daily "tfw no crypto millionaire" threads.
>>230600
started scraping together some bitcoin earlier today online after a wizzard from another thread tought me how to do surveys. Only have 20 dollars from like 3 hours of work but if i do this every other day i might be able to scrape some together to buy another crypto before it moons with it
started scraping together some bitcoin earlier today online after a wizzard from another thread tought me how to do surveys. Only have 20 dollars from like 3 hours of work but if i do this every other day i might be able to scrape some together to buy another crypto before it moons with it
You could have also invested into apple or tesla 10 years ago and made a ton of money. You could have published that book about the story in your head and made a lot of money. You could have bumped into the right normie who liked you for some reason and gave you a chance at a cushy well-paying job. You could have pursued another hobby and become a successful youtuber who makes ad revenue through his videos. It doesn't end.
At the same time, you could have enlisted in the military and had your face or legs blown off. You could have been exposed to meth as a kid and become an addict. You could have put all your money into a stock and lost it all. Someone could have dropped a heavy object on your head by accident and left you a bumbling retard who drools from the side of his mouth for the rest of his life. You could have been born in some poor backwater village in china. It doesn't end here either.
At the same time, you could have enlisted in the military and had your face or legs blown off. You could have been exposed to meth as a kid and become an addict. You could have put all your money into a stock and lost it all. Someone could have dropped a heavy object on your head by accident and left you a bumbling retard who drools from the side of his mouth for the rest of his life. You could have been born in some poor backwater village in china. It doesn't end here either.
I invested in bitgold instead of bitcoin. I didn't lose money, but I missed out. I would have been a millionaire. Never listen to libertarians.
>>230600
Reminds me of the incident when in the early days of Bitcoin, a guy sold 15K of BTC for couple of pizzas.
Reminds me of the incident when in the early days of Bitcoin, a guy sold 15K of BTC for couple of pizzas.
>>230600
Told plenty of people about bitcoin in 2010-14 while I was in an AnCap/libertarian phase around 20yo. Knew I should buy some for sure when the ESEA mining scandal happened around then. Instead I was spending all of my money on an addiction to synthetic "cannibinoids" which were actually mostly PCP analogue chink RC's sprayed onto shit, and spending most of my free time playing thousands of hours of league of legends. I didn't buy a single cent of bitcoin. Fuck I hate myself.
Told plenty of people about bitcoin in 2010-14 while I was in an AnCap/libertarian phase around 20yo. Knew I should buy some for sure when the ESEA mining scandal happened around then. Instead I was spending all of my money on an addiction to synthetic "cannibinoids" which were actually mostly PCP analogue chink RC's sprayed onto shit, and spending most of my free time playing thousands of hours of league of legends. I didn't buy a single cent of bitcoin. Fuck I hate myself.
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Bitcoin is inherently valueless and impractical, it also isn't as secure as people think. That tweet is by the CEO of Microstrategy, he's basically admitting to insider trading. That slide is from Goldman Sachs.
Furtermore, the crypto boom of 2017 was proven to be caused by Tether creating coins and pumping it up, not unlike how the Fed creates dollars and pumps up stock prices.
https://www.bloomberg.com/news/articles/2019-11-04/lone-bitcoin-whale-likely-fueled-2017-price-surge-study-says
Furtermore, the crypto boom of 2017 was proven to be caused by Tether creating coins and pumping it up, not unlike how the Fed creates dollars and pumps up stock prices.
https://www.bloomberg.com/news/articles/2019-11-04/lone-bitcoin-whale-likely-fueled-2017-price-surge-study-says
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>>231226
Goldman sachs
Goldman sachs
>>231228
Not surprisingly, Tether is currently creating BILLIONS of Tether coins every week, it's very likely this is cause of the recent surge in prices.
https://twitter.com/search?q=from%3Awhale_alert%20minted%20at%20Tether%20Treasury&src=typed_query&f=live
Not surprisingly, Tether is currently creating BILLIONS of Tether coins every week, it's very likely this is cause of the recent surge in prices.
https://twitter.com/search?q=from%3Awhale_alert%20minted%20at%20Tether%20Treasury&src=typed_query&f=live
I went nearly all into SONM near it's all time high in 2018. I left crypto for a while after that, only to get fucked in the LINK bullrun too. I think I finally understand it now and I'm actually making profits, so there's hope.
>>230600
The currencies of this life are energy and water. Can't seriously understand how do you still fall for the Bitcoin scam.
The currencies of this life are energy and water. Can't seriously understand how do you still fall for the Bitcoin scam.
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Bought 1 bitcoin for $3,800, but traded it for AGI. I've owned AGI (SingularityNET) since June of 2019 and I'm currently in profit.
Survived October of 2017 through the bull-run and survived with a profit at the end of it. Most alt-coins are scams and try to use fancy wording and confusing terms to confuse you and make it seem like it's just you that doesn't understand it. My first ever crypto purchase was LINK (Chainlink) and I bought around 5,000 at like 16 cents and if I held them, they would be worth around $70,000 right now.
Bitcoin as a technology is practically useless, as the fees are too high and it isn't scalable, nor does it have any sort of privacy. Bitcoin has been replaced by Monero on the darknet because it's completely private and the fees are like 1 cent and the IRS has been unable to crack the privacy aspect of it.
Gold is also useless, as it is only used as a hedge against inflation and it won't actually make you rich because it hardly beats the inflation of the US dollar. Even in a post apocalyptic world, gold would be useless.
Survived October of 2017 through the bull-run and survived with a profit at the end of it. Most alt-coins are scams and try to use fancy wording and confusing terms to confuse you and make it seem like it's just you that doesn't understand it. My first ever crypto purchase was LINK (Chainlink) and I bought around 5,000 at like 16 cents and if I held them, they would be worth around $70,000 right now.
Bitcoin as a technology is practically useless, as the fees are too high and it isn't scalable, nor does it have any sort of privacy. Bitcoin has been replaced by Monero on the darknet because it's completely private and the fees are like 1 cent and the IRS has been unable to crack the privacy aspect of it.
Gold is also useless, as it is only used as a hedge against inflation and it won't actually make you rich because it hardly beats the inflation of the US dollar. Even in a post apocalyptic world, gold would be useless.
>>230600
the reason you miss out on it is that it is no solution for you. money in itself is worthless and even if you think it'd enable you to do exciting things, the fun would be over within weeks. if you really need money, you find the way to get it. we're born into a world with resource scarcity for a reason, and shortcuts will never give you fulfillment.
>t. has over $3 million in crypto, very likely to kys off before eoy
the reason you miss out on it is that it is no solution for you. money in itself is worthless and even if you think it'd enable you to do exciting things, the fun would be over within weeks. if you really need money, you find the way to get it. we're born into a world with resource scarcity for a reason, and shortcuts will never give you fulfillment.
>t. has over $3 million in crypto, very likely to kys off before eoy
>>232252
>>t. has over $3 million in crypto, very likely to kys off before eoy
Ca… Can a wizzy blast me 3.5k worth? I got phished out of mine a few weeks back and I need to pay rent or freeze to death
>>t. has over $3 million in crypto, very likely to kys off before eoy
Ca… Can a wizzy blast me 3.5k worth? I got phished out of mine a few weeks back and I need to pay rent or freeze to death
>>232254
no i'd rather have them locked forever and have you freeze to death than toss it over to some stranger on the internet
no i'd rather have them locked forever and have you freeze to death than toss it over to some stranger on the internet
I lost 2/3 of what i invested in crypto, which was a lot . Its not free money. So far its basically a pyramid scam
I am forced to brainless wageslavery where I have nothing else to do other than think. Many days were spent torturing myself with this subject. I forced myself not to think about it after a while because it started to legitimately cause me such mental anguish.
There's a btc wallet somewhere with 10 - 100 coins. I can't even remember the exact amount, could've been in the hundreds. I mined them on my old pc which fried and I lost the keys to the wallet. Didn't matter at all back then, they were worthless and just a part of my fleeting hobby. Never bothered to set up a mining operation on the new pc.
There's a btc wallet somewhere with 10 - 100 coins. I can't even remember the exact amount, could've been in the hundreds. I mined them on my old pc which fried and I lost the keys to the wallet. Didn't matter at all back then, they were worthless and just a part of my fleeting hobby. Never bothered to set up a mining operation on the new pc.
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>SingularityNET (AGI)
This could potentially 1000x, considering that it has the potential to take advantage of the 16 trillion dollar AI market and they just recently introduced SingularityDAO for DeFi smart liquidity and solutions, merging AI and DeFi
-partnered with Cardano (part of the SingularityNET's network has just recently been ported to Cardano)
-partnered with Cisco
-partnered with Ping An (largest insurance company in the world)
-partnered with Ocean Protocol
-partnered with Domino's Pizza
-partnered with the government of Malta
-partnered with UNESCO
DeAI Oracle creating AI tools and AI marketplace for fortune 500 companies. Cisco and Huawei are already utilizing OpenCog (Opensource AI framework developed by Ben Goertzel and his team for over 12 years) within their companies on the back end and will eventually utilize AGI. AI services will be purchased on mass utilizing SingularityNET and potentially, billions of transactions could be made each day using AGI.
>CEO Ben Goertzel
-PhD in Mathematics from Temple University, graduated at the age of 21 and left high school in the 10th grade
-Has been in AI related companies and projects for over 20+ years
-Chief Scientist of Hanson Robots and scientist behind the Sofia humanoid robot that has been on the Jimmy Fallon show, spoken with Will Smith, Neil DeGrasse Tyson, and has been on various talk shows, gaining millions of views
-Acquaintance and associate of Charles Hoskinson, who is the CEO of Cardano and Co-Founder of Ethereum (part of the SingularityNET network has recently been ported to Cardano for better scaling)
-Has been on various high level podcasts, including the Joe Rogan Experience, the Lex Fridman podcast, and London Real
-Has many high level connections, as evident by all the high level partnerships and public appearances on various platforms
Whoever reads this, buy some AGI if you want to be rich in 5-10 years
This could potentially 1000x, considering that it has the potential to take advantage of the 16 trillion dollar AI market and they just recently introduced SingularityDAO for DeFi smart liquidity and solutions, merging AI and DeFi
-partnered with Cardano (part of the SingularityNET's network has just recently been ported to Cardano)
-partnered with Cisco
-partnered with Ping An (largest insurance company in the world)
-partnered with Ocean Protocol
-partnered with Domino's Pizza
-partnered with the government of Malta
-partnered with UNESCO
DeAI Oracle creating AI tools and AI marketplace for fortune 500 companies. Cisco and Huawei are already utilizing OpenCog (Opensource AI framework developed by Ben Goertzel and his team for over 12 years) within their companies on the back end and will eventually utilize AGI. AI services will be purchased on mass utilizing SingularityNET and potentially, billions of transactions could be made each day using AGI.
>CEO Ben Goertzel
-PhD in Mathematics from Temple University, graduated at the age of 21 and left high school in the 10th grade
-Has been in AI related companies and projects for over 20+ years
-Chief Scientist of Hanson Robots and scientist behind the Sofia humanoid robot that has been on the Jimmy Fallon show, spoken with Will Smith, Neil DeGrasse Tyson, and has been on various talk shows, gaining millions of views
-Acquaintance and associate of Charles Hoskinson, who is the CEO of Cardano and Co-Founder of Ethereum (part of the SingularityNET network has recently been ported to Cardano for better scaling)
-Has been on various high level podcasts, including the Joe Rogan Experience, the Lex Fridman podcast, and London Real
-Has many high level connections, as evident by all the high level partnerships and public appearances on various platforms
Whoever reads this, buy some AGI if you want to be rich in 5-10 years
bitcoin this and bitcoin that, ok sure, we all missed our shot. But there's still alot of money to made in stock. Here's a good tip - buy QUALCOMM - they produce 5G chip and their snapdragon processor etc. Q4 i managed to earn 1500 USD. On their earning reports they said that Q1 2021 will be even better. Just today - the stock went up 5%. Ima hang onto this shit as it will go up the comming months.
who gives a fuck what you did in the past? not like you can change it. and the outcome doesnt necessarily determine whether the decision you made was good or bad. there is plenty of get rich quick schemes that are scams or never work.
>>233097
>1500 USD
oh wow such big money i bet you could neet it up till retirement huh
this shit is a scam unless you got millions to invest. only the richfags born into wealthy families have it easy
>1500 USD
oh wow such big money i bet you could neet it up till retirement huh
this shit is a scam unless you got millions to invest. only the richfags born into wealthy families have it easy
The cryptocurrency scene is full of scammers and retards who are too high on their own farts to know left from right
There are a lot of fundamental issues with cryptocurrencies that prevent them from being actually useful for things other than money laundering, scamming people and illegal online trade. Especially BTC maximalists are a special breed of stupid and ignorant and don't have a grasp of even the most basic economic concepts
The crypto ecosystem of today exists due to lack of regulation and greed, not innovation, not technology, not anything new, not any good intentions, but the sheer possibility of scamming people in ways that were previously not possible, and the enormous greed of people who have no financial or technological knowledge
Given all this staying away from cryptocurrencies has always been the most rational choice, albeit not the most profitable one, and even if you went in a lot of things could've gone wrong, e.g. losing keys, getting scammed (not that hard, esp. considering how even the most trusted operators in the scene are actually incredibly shady by real world non-retarded finance standards), or being retarded with your money
Plus you are missing even bigger opportunities every day, you just don't realize them because you aren't looking. You could've invested in AAPL in 2009 and made a fortune today, with the added bonus of the safety of your capital not resting on what some weirdo whale operating from a non-extradition tax haven does, but I don't see people being sad about that as much as I see people complaining about missing the crypto train
In short dont beat yourself up over it
There are a lot of fundamental issues with cryptocurrencies that prevent them from being actually useful for things other than money laundering, scamming people and illegal online trade. Especially BTC maximalists are a special breed of stupid and ignorant and don't have a grasp of even the most basic economic concepts
The crypto ecosystem of today exists due to lack of regulation and greed, not innovation, not technology, not anything new, not any good intentions, but the sheer possibility of scamming people in ways that were previously not possible, and the enormous greed of people who have no financial or technological knowledge
Given all this staying away from cryptocurrencies has always been the most rational choice, albeit not the most profitable one, and even if you went in a lot of things could've gone wrong, e.g. losing keys, getting scammed (not that hard, esp. considering how even the most trusted operators in the scene are actually incredibly shady by real world non-retarded finance standards), or being retarded with your money
Plus you are missing even bigger opportunities every day, you just don't realize them because you aren't looking. You could've invested in AAPL in 2009 and made a fortune today, with the added bonus of the safety of your capital not resting on what some weirdo whale operating from a non-extradition tax haven does, but I don't see people being sad about that as much as I see people complaining about missing the crypto train
In short dont beat yourself up over it
>>230600
Been a fan of it since 2011 or 2012 but every time the price was just a little bit out of my reach and believed it was a bubble. Never ended.
Been a fan of it since 2011 or 2012 but every time the price was just a little bit out of my reach and believed it was a bubble. Never ended.
>>234793
The ability to engage in trade outside of the influence of gangster government is incredibly useful for all forms of commerce.
The ability to engage in trade outside of the influence of gangster government is incredibly useful for all forms of commerce.
>>234793
Not investing in something with huge asymmetrical risk and not understanding that the tech was revolutionary was low intelligence, no avoiding that
Not investing in something with huge asymmetrical risk and not understanding that the tech was revolutionary was low intelligence, no avoiding that
>>232252
You just sound like a spoiled normalfag claiming money has no value. You clearly never experienced living with abusive parents because you can't leave, or having a shitty boss for a bully yet can't get another job or being homeless and hungry or any other thousands of bad situations in which money is clearly the solution to the problem
You just sound like a spoiled normalfag claiming money has no value. You clearly never experienced living with abusive parents because you can't leave, or having a shitty boss for a bully yet can't get another job or being homeless and hungry or any other thousands of bad situations in which money is clearly the solution to the problem
heeeeeey don't we have this thread on /lounge/? Anyway how is converting my parent's electrical bill to bitcoin going to make me rich?
>>230600
I'm actually too retarded to figure out how crypto works. I guess that's part of the barrier of entry, is making it super esoteric. I admit when I see threads about crypto I get a bit jealous that I can't figure out how it works, what you're supposed to do, where to get started, etc.
I'm actually too retarded to figure out how crypto works. I guess that's part of the barrier of entry, is making it super esoteric. I admit when I see threads about crypto I get a bit jealous that I can't figure out how it works, what you're supposed to do, where to get started, etc.
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>>230600
Don't think you missed out on the crypto boat just yet. The crypto space is going through its adoption phase and bankers along with normies will pile in soon.
Buy BTC/ETH/LINK if you want to retire in 5 years.
ETH or ethereum will bring about a privatized decentralized internet where useless third parties/ corporations/banks will be replaced by DAPPs and smart contracts.
LINK or chainlink will secure the data feeds that connect the surface level internet protocols and businesses to DAPPs or smartcontracts and act as an decentralized oracle.
Buy at least 100 LINK and 1-10ETH if you can afford it. You will thank me in 3-5 years when LINK hits 1,000+. Do your own research as there are other great projects out there such as DOT and UBT that will blow up as well. Just do your own research and see what projects actually do and who are the developers working on the projects itself. Good lucks guys
Don't think you missed out on the crypto boat just yet. The crypto space is going through its adoption phase and bankers along with normies will pile in soon.
Buy BTC/ETH/LINK if you want to retire in 5 years.
ETH or ethereum will bring about a privatized decentralized internet where useless third parties/ corporations/banks will be replaced by DAPPs and smart contracts.
LINK or chainlink will secure the data feeds that connect the surface level internet protocols and businesses to DAPPs or smartcontracts and act as an decentralized oracle.
Buy at least 100 LINK and 1-10ETH if you can afford it. You will thank me in 3-5 years when LINK hits 1,000+. Do your own research as there are other great projects out there such as DOT and UBT that will blow up as well. Just do your own research and see what projects actually do and who are the developers working on the projects itself. Good lucks guys
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>>238037
here's some more resources for you to dig into.
https://www.chainlinkhub.com/breadcrumbs/
Mainnet-protocol that is fully online for the public to interact with.
Testnet-protocol that is private and can be tested for developers
here's some more resources for you to dig into.
https://www.chainlinkhub.com/breadcrumbs/
Mainnet-protocol that is fully online for the public to interact with.
Testnet-protocol that is private and can be tested for developers
>>234793
This.
Notice how nobody ever talks about using bitcoin to buy drugs or whatever anymore like they used to, that's because the black market aspect (one of the factors driving demand early on) has moved onto other more efficient and discrete coins. This coupled with the fact that the transaction costs are high means that it's not worth using for any small purchases. And further, the volatility of the coin makes it further shit for using as a currency, you sell something for 2 bitcoins today and find out tomorrow that you've lost $20,000 because bitcoin had a another bear moment.
The volatility, transaction fees and superior alternative coins all make it a shit currency. Why then is it retaining its value? Because people are speculating on it and using it as a storage of value, it's all dependent on bitcoin consistently growing and recovering from its crashes. It's a giant pyramid scheme at this point and the longer it goes on, the more bagholders there will be. It's one that's been strangely immune to popping because the recovery from previous crashes has been followed by a boom, which means there's a horde of people just waiting for the dip to sink a whole lot of money in.
Bitcoin will be stable for a while, lots of financial institutions are now hedging their money in there because the stock market itself is volatile in its own way. It's a safe bet at the moment due to the aforementioned fellas waiting to buy the dip, but once the economy recovers and bitcoin stops its bull run, you'll see that money start to seep out.
This.
Notice how nobody ever talks about using bitcoin to buy drugs or whatever anymore like they used to, that's because the black market aspect (one of the factors driving demand early on) has moved onto other more efficient and discrete coins. This coupled with the fact that the transaction costs are high means that it's not worth using for any small purchases. And further, the volatility of the coin makes it further shit for using as a currency, you sell something for 2 bitcoins today and find out tomorrow that you've lost $20,000 because bitcoin had a another bear moment.
The volatility, transaction fees and superior alternative coins all make it a shit currency. Why then is it retaining its value? Because people are speculating on it and using it as a storage of value, it's all dependent on bitcoin consistently growing and recovering from its crashes. It's a giant pyramid scheme at this point and the longer it goes on, the more bagholders there will be. It's one that's been strangely immune to popping because the recovery from previous crashes has been followed by a boom, which means there's a horde of people just waiting for the dip to sink a whole lot of money in.
Bitcoin will be stable for a while, lots of financial institutions are now hedging their money in there because the stock market itself is volatile in its own way. It's a safe bet at the moment due to the aforementioned fellas waiting to buy the dip, but once the economy recovers and bitcoin stops its bull run, you'll see that money start to seep out.
>>238036
And I think with eth it's still possible to mine and make a profit, albeit a small one, depending on your electricity costs.
And I think with eth it's still possible to mine and make a profit, albeit a small one, depending on your electricity costs.