Crypto is a failure

[Anonymous No.29138757]

This no longer has any functional utility in society. People will just hoard crypto to maximize their wealth in US dollar equivalents.

Tell me, why the fuck would someone want to buy something with Bitcoin or ethereum, or even fucking Dogecoin? The way these are designed and how volatile they are, it’s throwing money away. Why the fuck would I spend 0.001 ETH on a soda, when in a few months 0.001 ETH can go from being worth $10 USD to $100 USD? (Just making up numbers)

All crypto is going to be in the future is everyone hoarding it and nobody spending it, until it’s time they want a big cash out. Using crypto to actually purchase goods and services is idiotic, and because of that, it is a failure of a concept

[Anonymous No.29139519]

You’re not wrong. Jump ship when Bitcoin is 6 digits

[Anonymous No.29141000]

>>29138757
You're an idiot. Do you buy coffee with your Tesla Stock? Oh no you can't so it must be worthless to you then. Simpleton.

[Anonymous No.29141684]

>>29141000
LMAO CHECKED AND REKT

[Anonymous No.29142286]

>>29141000
Tesla stock isn't supposed to be a fucking model of spending you retard.

Thanks for agreeing with me that crypto is a failure by the way. It's only use it to hoard like a stock and sell out when it's worth a lot. It's not able to function as an actual CURRENCY...cryptoCURRENCY...whoa

[Anonymous No.29143297]

>>29142286
XMR

[Anonymous No.29143663]

>>29143297
XRP

[Anonymous No.29144021]

>>29143297
kek. have fun with your useless shit. I dare you to spend a single XMR on any actual product

[Anonymous No.29144097]

>>29141000
LMFAOOOO FUCKING BASED

[Anonymous No.29144227]

>>29138757
im in it just for the money. i do like some projects like dot,ada,link,eth, but all in all im in it for the money.

[Anonymous No.29144242]

>>29138757
I use Monero every month

[Anonymous No.29144280]

>>29138757
crypto is a store of value which also functions as a currency.

no dollar or bank needed

Dollar "stable coin" is literally FAKE. that pieece of shit inflates constantly, if dollar wasnt fake pegged it would literally just go down forever

[Anonymous No.29144389]

>>29141000
BASED

[Anonymous No.29144400]

>>29144280
holy fuck, the dollar isn't fake pegged. Anything that's represented by the government, especially one as powerful as the US, makes it more real than any other currency. it's fucking "backed" by the US military

[Anonymous No.29144509]

>>29141000
BASED. Does he buy coffee with gold?

[Anonymous No.29144512]

>>29144389
>>29144097
>>29141684
>>29141000

this is pathetic you samefag, you do know that everyone knows how to change an IP address to look like a different user right? Hell, that's probably even too complex for you, the only thing you could come up with was turning off wifi on your iphone and using data

[Anonymous No.29144516]

>>29138757
Look up what Ethereum is and why it was made. Vitalik realized that "instant payments" was not the greatest innovation of Bitcoin, it was the blockchain itself. Watch some Youtube videos about what smart contracts are until you understand it. Then get rich with the rest of us who are bullish about DeFi.

[Anonymous No.29144542]

>>29141000
Tsla stock may be a bad example, but in general stocks give you a share in a company‘s profits (in dividends).

Crypto doesnt produce any earnings or profits, it doesn‘t do anything. The much more accurate comparision would be e.g. Gold and that‘s why Peter Schiff is so butthurt; he knows we‘re replacing him.

[Anonymous No.29144585]

>>29144509
>>29144512

another samefag to add to the list. Wow, you really need some validation on your epic comeback, don't you

[Anonymous No.29144691]

>>29144512
lmao how fucking delusional are you?

[Anonymous No.29144707]

>>29144512
>get rekt
>proceed to flip the fuck out and act butthurt to keep your own thread afloat/harvest (You)s
nothing here ever changes

[Anonymous No.29144789]

>>29144707
how did i get rekt. His analogy is batshit retarded and outright wrong

[Anonymous No.29144799]

>I work at McDonald’s and can’t afford a Bitcoin so I’m going to project my failure onto the crypto market

[Anonymous No.29144805]

>>29144400
its backed by belief. thats it.

When more people believe in bitcoin its changing and bitcoin is immutable

[Anonymous No.29144816]

>>29138757
He's realizing while crypto is being ruined


Shut it down.

[Anonymous No.29145182]

>>29142286
Yes Crypto is a failure.
>looks at BTC price
that is a big failure, a $500,000 failure.

[Anonymous No.29145253]

>>29144799
I have a full portfolio in various different coins. I just recognize it as an abstract thing you can make money off of right now while the public and government don't really know better. People that unironically deem it to have any societal use are fucking insane.

[Anonymous No.29145334]

>>29138757
You're used to a manipulated currency. When you make a purchase you're supposed to consider the potential value lost in future gains, unlike with the dollar which is so manipulated it doesn't matter what you do with it. Crypto is like gold or any other precious metal, it has value because it's scarce.

[Anonymous No.29145411]

this is the argument for deflationary money - it keeps people spending.

once we start seeing negitive intrest rate crypto backed credit cards you'll understand why.

[Anonymous No.29145701]

>>29145253
I get what you’re saying but I wouldn’t be so harsh on crypto as a whole. One issue with crypto is, like you said in a previous post, that it is called cryptoCURRENCY when a more correct name would be cryptoassets or something like that. There is real value in crypto, but the technology and ecosystem are so young that it might be hard for some people to understand and define it.

[Anonymous No.29145789]

>>29145334
yes, and that's why crypto has failed as a model of currency. Crypto by definition is an artificially limited "resource", backed by nothing, and worth nothing intrinsically. It doesn't represent any company which produces tangible results, it's not represented by a physical resource with function. It's all a sham.

[Anonymous No.29145952]

The speculative nature of the cryptos is a value itself. You can buy magic internet money to support a legit project or just for trade and profits. In both situations the simple will of purchasing of a entire comunity makes it valuable.

This is actually like buying shitty modern art. It can be glued up garbage buy if enough people want to buy it, then is valuable.

[Anonymous No.29145994]

To purchase other appreciating assets like a home?

[Anonymous No.29146014]

>>29145789
>backed by nothing
First week in crypto? Bitcoins are backed by the power consumption of a medium sized country, and they're worth precisely what people are willing to pay for them.

[Anonymous No.29146101]

>>29144691

Samefag city

[Anonymous No.29146201]

>no inflation
>bitcoin forks

[Anonymous No.29146536]

>>29141000
Tesla contributes something to the world.
Bitcorn, Efferiums and Doggy coins don't contribute anything.

[Anonymous No.29146787]

>>29142286
> He's never heard of forex

[Anonymous No.29146867]

>>29144400
Yet there are currencies more valuable than the USD.

[Anonymous No.29147177]

>>29146536
If you really believe that then simply don't invest in it and go buy some boomer stocks instead. Why are you here? Do you really believe you're going to convince anyone to sell?

[Anonymous No.29147446]

Dunno ask be Venezuela,Cryprus or Argentina for a start.
Then look into the euro dollar,the derivatives market ,n the repo market for a few .
Let alone CBDC Schwab coins.

[Anonymous No.29147651]

when Soulja Boy gets into crypto, you know that stuff is legit
where's my console, Soulja Boy?

[Anonymous No.29148362]

>>29147651

[Anonymous No.29148867]

>>29145253
>it’s a failure
>i have a full portfolio
Gold medal in mental gymnastics

[Anonymous No.29149119]

>>29138757
The defense of crypto is easy.

Fed reserve can print a billion dollars whenever they want.

Crypto by design fixes this.

[Anonymous No.29149608]

crypto is a failure its been over a decade and the best we can come up with is bloated networks with huge fees and shitcoins like bananaswap

[Anonymous No.29149663]

>>29149119
Cant a hacker just go “beep boop” and hack into Bitcoin and make it so it prints more. Or change the value. Remember the scene in Rick and Morty season 3 episode 1 where he changed value of a currency from being worth one of itself to “none” of itself and it destabilizes the galactic government

[Anonymous No.29149752]

>>29144021
People use it to buy childs and drugs

[Anonymous No.29149951]

Guess I’ll just use a deflationary currency that forces me to buy cheap Chinese plastic crap that I don’t need, before the value deflates.

[Anonymous No.29150544]

>>29149663
Perhaps if they find a weakness. Currently the only attack I am aware of is a 51% attack where if someone has 51% of the computing power on a proof of work crypto such at Bitcoin, then they can control the next block and so forth until they lose that 51% computing power advantage.

[Anonymous No.29150847]

>>29149951
This is what consooomers and fiat lovers don't understand. the only reason they believe that inflation is "good for the economy" is because they've been brainwashed with the establishment consoomer globalism ideology that asserts our debt-based economies must keep growing forever in order for everyone to be happy, and in order to grow the economy people must constantly be consooming and wasting (but it's Bitcoin that's the ponzi scheme, right?)

Take the sustainability pill. Only buy what you really need. Buy high quality products that will maximize lifespan. Reuse and re-purpose instead of discarding. Learn how to fix your own shit, and learn how to improvise. Learn how to cook with basic ingredients. Learn how to grow your own food (even just a small percentage). Once you take that pill, a deflationary currency that incentivizes saving money will start to make a lot of sense.