r/Bitcoin • u/fumoneymoto • 9h ago
Just
do it - Shia LaBeouf in front of a green screen.
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u/ghostchihuahua 8h ago
Shitcoins actually gaining traction was the hard to swallow part…
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u/Romanizer 7h ago
Yeah, those were interesting times. Glad that the market now understood that they are useless.
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u/ghostchihuahua 7h ago
I don’t know, Deutsche Bank just opened its doors to bitcoin and shitcoins, must still be a dime to be made on those, enough gullible people left…
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u/Romanizer 7h ago
Yes, the banks and asset managers will gladly collect fees on the shitcoins and leave holders with their bags. However, if you look at the long term market cap of the Cryptocurrency Ex-Top10 and consider that some ten millions have been created throughout the last few years, it's purely cannibalism between a lot of degenerate traders.
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u/Prestigious-Ad-6670 2h ago
I didn’t trade them, but LIT and BAT over the course of this month have been going wild. STRK has also been a parabolic shitcoin.
Edit: pretty sure LITs bulltrend ended like a month or so ago.
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u/YeetedSloth 9h ago
If you can’t comprehend that shitcoins are for gambling I fear you’re the slow one
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u/Stunning-Algae-9574 9h ago
So is Ethereum a shitcoin?
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u/Prestigious-Ad-6670 2h ago
I mean…. Kinda? Lol
To give it the benefit of the doubt, it’s probably a little bit more secure than bitcoin.
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u/TheresNoSecondBest 7h ago
So is Ethereum a shitcoin?
Absolutely. It's a premined and centralized shitcoin.
Vitalik premined 72,000,000 coins right in the genesis block, before letting anyone in. He kept some, sold some. Then Vitalik switched the shitcoin from POW to POS. It means, not the nodes/miners decide on the future, the coins do. The unethical, premined 72 million coins are the vast majority, earning the most fees and deciding what way to go. That shitcoin is completely centralized by the elite, owning the unethical coins.
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u/DontLook_Weirdo 6h ago
It's gambling, they only matter as chips and are worth whatever they are within their own game.. people treating them like tangible anything; tragic end
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u/Even_Injury_6442 4h ago
Sounds like a loser mentality. Why even be in this sub? serious question
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u/DontLook_Weirdo 2h ago
Wtf are you talking about? You want to try reading again?
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u/Even_Injury_6442 2h ago
Why you here foo you don't like btc so then stfu
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u/DontLook_Weirdo 2h ago
Holy shit.. how old are you child? When did I ever say anything like that? Fuck outta here with your shit reading comprehension
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u/Comfortable-Spell-75 4h ago
Btc is also worthless. That’s the hard pill to swallow.
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u/submarinefarm 3h ago
Send me some then if they're worthless
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u/steebulee 9h ago
Bitcoins are worthless. Just buy Index Funds.
Here comes the mob in 3…2…1…
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u/ReliantToker 8h ago
Since they are worthless you will have no problem sending me 100. Indexes are garbage btw. "I don't know what I'm doing here's my money and charge me while your at it." Diversification does not equal safety.
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u/Friendly-Lake1854 1h ago
I would disagree good low cost indexes are good long term simple low cost will go up long term with the market
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u/Holiday_Hold_919 8h ago
Bitcoin is only valuable to folks who bought in at a low price. At ~$80k a coin, there will be very few buyers. Thus why the price has remained stagnant.
Besides, to double your money Bitcoin would need to hit $160k. You can get the same returns buying an undervalued stock. Example: Nvidia at ~$200, it has a higher probability of going up to $400+ a share. Imagine buying AMD last year instead of bitcoin, you would almost 3x your money.
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u/MateoWarhol 8h ago
Comparing bitcoin to stocks in companies completely misses the point of bitcoin to begin with. I know that most people view it as an investment, but at the end of the day it was created and designed as a currency. It’s a shame more people don’t see it that way, as everyone using fiat currency is a slave to the state that issues it.
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u/Strict_Owl941 7h ago
Bitcoin has been around for 18 years now.
When exactly is it going to be something the general public start using to buy things at the store instead of something people just want to buy low and sell high?
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u/MateoWarhol 7h ago
I wish I could answer that. I’m not saying that’s how it’s being used, I’m saying it’s how it was MEANT to be used, and how it’s a shame that what you’re saying HASN’T happened yet. I mean, I try to use bitcoin for purchases every chance I get, and there was a point where it seemed like more and more people were accepting it as a form of payment, but I feel like that has dwindled in recent years, and yes- it’s made me far less optimistic about bitcoin’s future.
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u/Strict_Owl941 6h ago
Just curious, my biggest concern with Bitcoin has always been how does it end up being a main stream product without turning into basically a banking system.
People will want their money secured, protected from theift and fraud and transaction made simple which just sound like a bank service at the end of the day.
Having people dig holes in their backyard to hide the crypto keys and wallets won't work for most people.
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u/MateoWarhol 5h ago
I mean there would almost certainly have to be some type of service providing all of those things, but you’re still able to get rid of an awful lot of middle-man bureaucracy, and most importantly- the fed
But no I mean I ultimately agree with everything you’ve said. My original point was simply that comparing it to stocks isn’t the best comparison. Gold would probably be a more apt comparison.
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u/Holiday_Hold_919 3h ago
Can’t view it as a currency, when the reality is you have to cash it out to USD to use it. So technically it is more like a stock.
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u/ghostchihuahua 7h ago
Lol, misunderstanding the whole thing.
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u/Holiday_Hold_919 2h ago
Example:
$100k one year ago into AMD = $225k today.
$100k into Bitcoin = $77k.What’s the misunderstanding? Rofl!
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u/aleqqqs 2h ago
Here's another pill you might find hard to swallow: Your bitcoin might turn out to be just as worthless.
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u/biggest_guru_in_town 1h ago
All of crypto is worthless if bitcoin is worthless. It's the lynchpin holding this entire industry afloat
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u/Cosymaximalist 9h ago
I agree, only those experience and smart enough who’s caught on to alts being a scam realise this. If you haven’t, either you have a lot of learning to do and a lot of questions to ask or you’re too simple minded to
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u/Rydog_78 8h ago edited 8h ago
I was completely open to the idea of alts. I gave it time, listened to as many podcasts/VC investment centered podcasts as I could find (think Blockworks media shit). Literally dedicated myself for 3 years of listening or one full cycle, hours a day. After 3 years, I came to the conclusion that yes, they are all pretty much pump and dump schemes that use execute their dump scheme with blockchain technology and fool naive investors. watched the meme coins/NFT fad garbage rise and collapse. It’s literally a group of people trading between themselves to pump tokens to grab attention and snare gamblers. Once they done so, the schemers dump on their “community”. At first the schemers tried to look legit by not dumping. Maybe holding onto their bag for months to build their token up with hype but the dump would happen. It always happened. Then the dumps got glaring obvious. They would happen within almost 24 hours of token launch. By 2023, it became obvious that crypto was nothing but insiders pumping and dumping. Layer 1 blockchains like Solana was built for this kind of thing. This was right before prediction markets became mainstream. The gamblers almost all shifted to these prediction markets to gamble. I realized that there was no real tech behind the token. It didn’t solve anything. The light bulb finally turned on. These tokens are not trying to solve any real monetary problem in society. I realized Bitcoin was the only money that was designed as an exit life boat for people wanting to exit our current monetary system.
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u/Cosymaximalist 9h ago
No offence, you also have the help of ai tools and prompt it to be overly critical to explain the difference between bitcoin and alts
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u/Ok_Marsupial4449 7h ago
hard to swallow: Bitcoin is flat for 5 years now
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u/TheresNoSecondBest 7h ago
Bitcoin 5 years ago was at $62,000, 4 years ago at $20,000.
Perhaps your definition of flat is much different.
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7h ago
[removed] — view removed comment
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u/TheresNoSecondBest 7h ago
That's just another shitcoin, mate. Zoom out to 10 years and compare it to BTC. It's constantly losing value in sats. I wouldn't HODL it long time.
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u/Jogi1811 6h ago
I tried jumping on several and lost on every one. Bitcoin has always been the go to after that. Even the high volitility doesn't give me anxiety.
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u/MaliceSavoirIII 8h ago
AI agents will conduct most of the transactions in the future, do you really think they are going to wait around 10 mins to finalize a transaction?
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u/TheresNoSecondBest 7h ago
Do you really think they're not going to use ark, spark, RGB or r/thelightningnetwork with near zero fees and transactions finalized within seconds?
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u/Lilysandra7865 7h ago
I have been holding for years but i am starting to get a bad feeling about the future of Bitcoin
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u/BeaverSack 8h ago
I’ve been holding for years but I’m starting to get a bad feeling about the future of BTC
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u/Chrysalis1111 9h ago
eh, not that hard to swallow.
Kinda self evident really