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A cryptocurrency created as a parody is now worth more than $1 billion by Nigel Tillingdale - Fri, 05 Jan 2018 19:05:23 EST ID:MlidkWIL No.164652 Ignore Report Quick Reply
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> Dogecoin, a cryptocurrency created as a parody after a popular internet meme, now has a market cap of more than $1.1 billion

>The rise of Dogecoin and other bitcoin descendants is due to the fact that they're perceived as being "cheap" compared to bitcoin or ether, according to Dave Chapman from Octagon Strategy

>One of the Dogecoin founders told a cryptocurrency news site that the token's rise makes him worry about market excess
https://www.cnbc.com/2018/01/04/cryptocurrency-dogecoin-now-has-a-market-value-of-more-than-1-billion.html
Worth more than Bitcoin,
Welcome to 2018
>>
Hugh Honeywill - Fri, 05 Jan 2018 19:24:02 EST ID:nO4g22iY No.164653 Ignore Report Quick Reply
going to the moon
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Simon Brocklechot - Fri, 05 Jan 2018 21:44:56 EST ID:LBoSRtjp No.164654 Ignore Report Quick Reply
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BLOCKCHAINS EVERYWHERE
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Charles Clammlestone - Sat, 06 Jan 2018 01:01:05 EST ID:WXUWSia2 No.164664 Ignore Report Quick Reply
>>164663
Libertarian Tears.
>>
Hugh Hendernutch - Sat, 06 Jan 2018 01:41:53 EST ID:qetGCKL9 No.164665 Report Quick Reply
>>164663

Nothing. It literally comes from the aether. Speculation, speculating on that speculation...it's all a facade.
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Fuck Clenderworth - Sat, 06 Jan 2018 04:31:03 EST ID:u0wJbB/w No.164667 Ignore Report Quick Reply
>>164665
Hi mom.
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James Chapperford - Sat, 06 Jan 2018 06:23:44 EST ID:5bylhOD6 No.164668 Ignore Report Quick Reply
>>164663

Remember Beanie Babies? The price of those skyrocketed for a while, and some actually believed they were a good investment.

The only reason they held any value was because people said they did.

Now, I don't mean to knock cryptocurrencies, I think the idea is neat. But it's not going to be replacing cash any time soon.
>>
Jack Drenningdale - Sat, 06 Jan 2018 14:59:32 EST ID:2WjC3KY5 No.164673 Ignore Report Quick Reply
>>164668


ALL IN ON BEANIE BABIES, SHUT UP AND TAKE MY MONEY!!!! Ol' Gill is going to be eating good tonight.
>>
Jack Drenningdale - Sat, 06 Jan 2018 15:00:52 EST ID:2WjC3KY5 No.164674 Ignore Report Quick Reply
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>>164673
>>
Eliza Binnerhire - Sat, 06 Jan 2018 15:15:13 EST ID:kT9CWKZZ No.164675 Ignore Report Quick Reply
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>>164668
>The only reason they held any value was because people said they did.
So what you're saying is it's the exactly the same as anything we've ever used as currency once we progressed past bartering?

I'm not trying to be super condescending and cunty I just don't understand the difference.
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Phoebe Sumblefuck - Sat, 06 Jan 2018 17:58:30 EST ID:3E+uYiLw No.164678 Ignore Report Quick Reply
>>164675

It's not really the same thing. Do you think the insane increase of the value of the bitcoin reflects an equally insane increase in its utility as a currency? It's a speculative bubble. Much of the demand for bitcoin stems purely from the fact that it increases in value, not that you can buy shit with it.

People see other people making bank on just buying and selling bitcoin, so they jump on the gravy train.
>>
Nigel Tillingdale - Sat, 06 Jan 2018 18:54:56 EST ID:MlidkWIL No.164679 Ignore Report Quick Reply
Seems meme magic reigns supreme during this presidency
>>
James Degglemotch - Sun, 07 Jan 2018 15:18:42 EST ID:kT9CWKZZ No.164686 Ignore Report Quick Reply
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>>164678
I get that, I was just talking about "the only reason they held any value was because people said they did".

I mean I'm not saying beanie babies were a good investment or whatever, just that the logic there doesn't make any sense to me. Your $20 only has value because we've all collectively decided it does. In some other universe where beanie babies just went up and up and we all decided to switch over to using them, it'd be the same thing but with plush owls and dogs instead of paper bills.

Anyway as far as BTC goes, I think it's totally fucked. Nobody accepts it because it's too volatile and it'll always be too volatile until people start regularly using it, but they can't because even for the companies that want to accept BTC it's not very feasible thanks to the super fucking high transaction fees. I read a thing where some guy tried to send $40 to somebody else and the fee on that was 32 goddamn bucks.

That said I really think there's a metric fucktonne of potential in cyrptocurrencies, it's just absolutely not with bitcoin.
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Phoebe Clayforth - Sun, 07 Jan 2018 15:38:44 EST ID:h9T0FkLB No.164687 Ignore Report Quick Reply
Bitcoin is too deflationary to be used as currency, so you're always going to have to keep most of your money in central bank supported money. By the time the price stabilizes, you're going to be able to instantly transfer funds already, and the anonymity advantage vanishes if you have to exchange every time you want to do anything with bitcoin.
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Eliza Blatherdale - Sun, 07 Jan 2018 16:28:43 EST ID:WXUWSia2 No.164688 Ignore Report Quick Reply
BTC's infrastructure is also pathetically weak for something that wants to be a world wide currency.
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Eliza Blatherdale - Sun, 07 Jan 2018 17:05:15 EST ID:WXUWSia2 No.164689 Ignore Report Quick Reply
>>164688
Oh, forgot to add, and this is a general problem with Crytopcurrancies, their power useage far outstrips their worth. Imagine if it cost 20 bucks to make a one dollar bill.
>>
Walter Nacklekan - Sun, 07 Jan 2018 22:57:38 EST ID:3HbP9RFD No.164692 Ignore Report Quick Reply
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>>164686
fees usually only happen when youre trying to buy BTC with cash or get cash with BTC. Just sending BTC to another wallet is free.

But yeah, cryptocurrencies have a huge value, but BTC is too volatile to be useful.
>>
Rebecca Dommlebere - Mon, 08 Jan 2018 08:10:39 EST ID:dbM7KxGC No.164695 Ignore Report Quick Reply
Bitcoin is a wonderful example of everything wrong with our society today. In the pursuit of personal greed, everyone is burning vast amounts of polluting fossil fuels all while adding nothing of value to society. Then they'll walk around with their buckets of bitcoin cash and pat themselves on the back and buy a whole bunch of shit they don't need which further pollutes the atmosphere and everyone will call them a genius and treat them like they're some sort of God just because they have a lot of money. We are literally destroying ourselves through greed. The planet is fast becoming uninhabitable because of this exercise in self importance and avarice we're all indulging in. Well, good fucking riddance I guess. No one even seems willing to change because they're all fucking horrible people. This evolutionary experiment has been a failure. Our evolved intelligence has not been put to good use.
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Shitting Pidgehadging - Mon, 08 Jan 2018 09:08:52 EST ID:WXUWSia2 No.164696 Ignore Report Quick Reply
>>164695
He bitches as he uses fossil fuels to bitch about how awful humans are using technology.
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Edwin Sinnertot - Mon, 08 Jan 2018 10:36:51 EST ID:3E+uYiLw No.164697 Ignore Report Quick Reply
>>164695

Yeah, lol. That's why it's useless to throw the ball to the consumers, as they're dealing with a 8-billion-people-sized prisoner's dilemma. Change should come from the top-down, through environmental legislation.

Politicians and economists encouraging spending and reckless economic growth influences the attitudes of consumers, who are incentivized to buy ever more shit due to planned obsolescence practices while polluting industries gets let off the hook.
>>
Hedda Pogglewater - Mon, 08 Jan 2018 13:03:38 EST ID:kFmX3/Gj No.164698 Ignore Report Quick Reply
>>164696
Cool way to over look his point for a snarky one liner that wasn't good to begin with.
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Fanny Dettingstock - Mon, 08 Jan 2018 13:27:40 EST ID:QujrQMI+ No.164699 Ignore Report Quick Reply
>>164695
i mean, all the bitcoin/crypto dissent comes from established bankers, and their reasoning in the post-gold standard era is laughable, if not insulting. small investors make money off of midsized investors, and all make a profit off the bubble. This is how the stock market works, so what's the difference?

if crypto is monumentally successful and bankers fail to capitalize, it could possibly even damage the USD score one libertarians
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Jack Blythedock - Tue, 09 Jan 2018 08:45:42 EST ID:A7+muvk1 No.164727 Ignore Report Quick Reply
>>164696
Posting on 420chan doesn't use anywhere near as much energy as is required to mine additional bitcoins. Not even in the same ballpark.

You are retarded, and what's sad is that I'm sure you thought you were being real fucking clever with this snarky comment. Retard.
>>
Charles Bardshit - Fri, 12 Jan 2018 12:39:20 EST ID:CrzK7cKZ No.164822 Ignore Report Quick Reply
>>164652
This shit looks exactly like a repeat of the .com bubble from the long long ago.

But hey, at least someone out there can say they got rich off of internet meme monopoly money. That's a memory that lasts a lifetime.


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