Greater Fool Theory

Pretty much

I'm convinced it's one guy making all these nocoiner threads because they all have to same low iq arguments. There are some valid points against crypto but he never even comes close.

Nobody needs bitcoin

Nobody needs gold

no one needs bitcoin

Bitcoin has no purpose, it is a new thing, a trustless intangible ledger, and can be used for new things.

We can use btc for at least two priceless functions:
1) We can encode the price of money into btc via aggregate demand for “economic unit”, in doing so creating a Trustless Price Signal of Money, i.e. THE economic reference point. This massively increases the efficiency of economic calculation.

2) Trustless intangible Store of Value: Physical goods require active force simply to maintain ownership, trust-based assets require trusted third parties to operate them. Storing abstract economic value in either enables negative sum actors to parasite as NSAs can specialize exclusively in force. With a trustless intangible SoV we can guarantee voluntary exchange in-the-limit as btc can be made prohibitively expensive to seize (multi-sig, Shamir backup) and is infinitely more resistant to seizure by defaul

Further, while not priceless, BTC will drain abstract economic demand from assets with functional use (gold, land etc) freeing them for productive use.

currency loses value daily

seething fiatcuck still defends it

does it for less than free

nobody needs crypto
nobody needs cash
nobody needs gold
nobody needs anything
excellent take

i use USD to buy BTC
i use BTC to buy USD
make x100 return

Nobody needs bitcoin

i use USD to buy STOCK
i use STOCK to buy USD
make x0.5 return

not the Greater Fool Theory...

Profiting in USD

HAHAHAHAHAHAHAHHAHAHAHAHHAHAHAHH

90% of stock exists thanks to useless products people don't really need in the first place, either. we'd be all investing in nestle and whatever the fuck since food IS vital for existing and yet we aren't. i've made more money than my entire group of friends combined by trading "bitcoin/altcoin/shitcoin". hell npc, pepe and shib alone boosted me 40 thousand dollars in a year.
nobody with a brain is buying because of muh ideals or muh future use. just exploit whatever market has a lot of dumb money to go around and siphon from and that's it. just like investing in nvidia. people with brains do it because they are hot thanks to their ai slop garbage smokescreens, and that's it.

Are you from 2018 you dense mothrfucker?

you didnt make shit. your all time performance probably is a loss kek.

There is literally no use of crypto in real life. Nothing is valued in cryptocoins, there is always conversion to dollars involved.

ive ordered products exclusively denominated in BTC

There is literally no use of crypto in real life

nor the entire finance sector, yet here we are

Crypto is a scam just for making money!

You didnt make money, thats impossible!

"Do you realize you're playing this game? Nobody needs stock shares for anything but profiting from them. Profiting in USD. There is literally no use of stock shares in real life. Nothing is valued in stock shares, there is always conversion to dollars involved. If there is no more people to buy let's say microsoft at ridiculous 420 price, it's over, it'll start slowly dying just like other stocks right now. Will there be another cycle for you to profit from? Not necessarily if no fools with money left. You are not investing, you're gambling."

Correct. Most crypto nerds lose money.

looking at market cap change, if you lost money you are at the wrong end of the bellcurve and were daytrading all your profits away constantly

Do you realize you're playing this game?

Yes, but there is still money to be made before the music stops

It is speculation on the worth of an asset class that the market has deemed will be highly valuable in the future. This happens with all great jumps in human technology and exploration. It happened to whole Internet including Amazon, Microsoft, and Apple.

It also happened to the tulip bulbs.

1) Even if that were the case, the volatility and cost of transactions would more than erase those gains in efficiency. Stablecoins may have some limited use long term, but BTC does not. Crypto cannot simultaneously be a good investment and a means of exchange, what makes it good at one means it fails at the other. Nobody buys groceries with shares of stock or equity.

2) The entire notion of an economy is founded on trust. The earliest forms of money were not bartering, but a trust-based credit system. Modern currencies are just an abstraction on top of that. Fundamentally, all (productive) economic activity comes down to humans interacting with other humans, and that requires trust. The trust required by the current system is not a bug, it is a feature. Any system that cannot negotiate disputes will never be accepted by the mainstream.

I am the greatest fool and I'm never ever selling. You can suck my nuts OP.

means of exchange

Who said anything about using BTC as Medium of Exchange? Only net demand carries novel state information, so all relevant information can be encoded into bitcoin via aggregate demand for “economic unit”, MoE use does not increase the fidelity of the price signal so is wholly superfluous. You use Bitcoin by buying, selling or transferring it, not by trading it for coffee.

Economy is based on trust

False. Economy is based on The Positive Externality of Voluntary Exchange, economic abstractions like money evolved because without such abstractions the complexity of economic interactions is limited by the parabolic growth of prices as the economy becomes more complex (n^n prices without a money, n prices with a money).

earliest monies

Were commodities like grain, salt. These work fine as a MoE (as there is little term risk in MoE) but can’t function as an abstract economic unit as increases in demand for said commodity will increase the amount not price of the commodity as these have great elastic supply. This is why gold was gained market share for this function, because it has less elastic supply than the vast majority of commodities.

Notice that gold is trustless (in physical form), yet “despite” this (because of this) the greatest periods of prosperity throughout history have been under gold-money. Bitcoin goes beyond gold, trustless, intangible, perfectly inelastic supply. Not only will NSAs be unable to corrupt the Trusted Third Party of Bitcoin (for there is none), but they will also be unable to mass seize bitcoin as BTC is intangible. This is a literally priceless.

Except its not actually an asset, you can't actually possess or own it, its just an abstraction, you can only know a secret password that gives you electronic access to a particular set of digital receipts nested within a larger set of digital receipts.

they will also be unable to mass seize bitcoin as BTC is intangible

just as NSAs can outlaw hoarding gold, and make it impractical to use as MoE, they can say that only bitcoins purchased from certified KYC exchanges are worth anything, and outlaw trading tainted coins originating from non-whitelisted addresses
with KYC enforcement, seizing bitcoin becomes more trivial than any other asset

Trustless

Anon says as anon blindly trusts the protocol safekeepers from bitcoin.org to the bitcoin foundation and their propaganda and encryption schema implementation that anon doesn't fully understand.

and if you live outside the US..

p2p trading sites exists

No its paid organized campaigns on here to part you with your holdings. Majority of it anyway maybe some edge lords here and there. "Composite Man" for lack of a better term which encompasses a lot of different groups employing psychological operations.

if you live outside the US, you will see this implemented much sooner than in the US
reminder that some people still write paper checks to pay rent here
they will exist to turn useful whitelisted bitcoins into worthless digital tokens with a broken chain of trust

you don't have to sell it, you can borrow FIAT against it.

Nvmd, Half of this chan posts are jew trying to bait you out of btc.

Never selling my btc, jew.

Yea and if you lost money on the pyramid scheme, you are at the wrong end of the upline and gave away your profits to the other sellers.

p2p trading sites exists

try it