Once, I almost bought four whole bitcoins.
But then I thought "Man, $100 is a lot of money."
It may not help much, but remember that it was the rational decision at the time. There is really no reason (other than hype) for the value of Bitcoin to move the way it does.
If you don't play the lottery and the numbers that you would have picked win big, then not playing the lottery was still the rational thing to do at the time, because the chances of winning are so astronomically slim.
I could have gotten $10k if I held doge coin. But, if I had gotten lucky, I would have immediately made 3 more stupid financial decisions that would have canceled out my gains.
There is really no reason (other than hype) for the value of Bitcoin to move the way it does.
Sure there is. It is a limited resource which can be exchanged for other things of value (goods, services, currency).
It is a limited resource
Bad joke
Your Mom is too. Yet I'm still seeing her for free
(BTW, you're just wrong. If something being a limited resource that can be exchanged for services and goods means it is unstable, why aren't we seeing that with Euros? Dollars? HUF? insert currency here?
which can be exchanged for other things of value
...yet if we look at the triangle of investment, it neither has stability, nor has it got good liquidity, leaving only profitability. And since the job of a currency is being stable and liquidible, it fails at those completely.
Have you ever heard of anyone using bitcoin for anything other than speculation? I haven't, and I often spend time in those circles. If you send btc you have to pay a lot on transaction fees
As long as the transaction fees are less than the value you're transferring, there's still value left to exchange. This is part of what drives the price.
Whether people do use it beyond speculation is not relevant. Another part of its value is that you can use it beyond speculation.
That is the thing. The person you replied to didn't say "bitcoin can only be used for speculation" they said "there is no reason for the value to move as it does (beyond speculation)". which means that it IS relevant. Otherwise you are saying both " yes there are other reasons" and "it's not relevant if there are other reasons"
No, they said
There is really no reason (other than hype) for the value of Bitcoin to move the way it does.
Which I responded to appropriately. There are other reasons.
In my previous response to you, I said
Whether people do use it beyond speculation is not relevant. Another part of its value is that you can use it beyond speculation.
I didn't say that speculation wasn't relevant. I said that whether people use it beyond speculation isn't relevant. It remains true that it can be exchanged for other things of value. As a counter-example, it turns out that NFTs attached to random JPGs are pure speculation, mainly because they are not a limited resource, and because the things they are attached to are also not a limited resource. If holding an NFT represented ownership of something which was a limited resource - like a piece of real estate, or a car, or a share of a business - then such an NFT would have value. That would require a common public agreement on such a system, which does not currently exist, but it's not impossible.
Now, if we're talking about BTC specifically, its use case outside being a store of value is now pretty limited, mainly because of the way it was designed. Other coins and tokens have greater use cases, but there hasn't really been a "breakout" moment for anything yet.
ENIAC was completed in 1945, and it took many decades for digital computers to become ubiquitous. Now we take them for granted. Someone, at some point, will have a useful practical application for blockchain.
Lemmy needs a "living on bitcoin" community like Reddit had.
Have you heard of anyone using any financial instruments for anything other than speculation?
I mean, you literally have to go through tons of warnings and accept various things when opening trading account, all of which basically inform you that there are no guarantees for anything and that majority of people lose money in margin trading.
You don't spend any time in any circles, you are talking out of your ass, you could right now send few billion worth of BTC for less than a dollar. Or you could do it for 5 bucks, just to be absolutely sure. But you wouldn't know that since you are unlikely to be a human.
Stupid AI bots rehashing old shit they were trained on, from years ago. Sigh.
Just say that everyone who disagrees is a bot that way You can never be wrong.
I and most of the world literally use cash and banking everyday for gas and groceries. Literally not speculation. If you mean trading stocks, then I 100% agree. But they are made to be speculative, they don't pretend to be something else (which I absolutely hate)
I'm not talking out of my ass. I've literally triede every crypto that has caught my eye. Including btc. However, I like self custody, and in the case of btc, just moving from binance to self custody was really expensive and took forever. Go to nostr, and you will see thousands of people using lightning just to avoid paying the huge fees. However using lightning for like 10 USD (which is what I would be willing to try) is not worth it since you have to do a lot of transactions and pay a lot of fees.
Just keep telling yourself that everyone who disagrees with you is a bot and treating bitcoin as a core part of you personality if it makes you feel smart
You should move some more goalposts and change some more topics.
I responded to your initial post which very clearly talked about very specific things and now you decided to talk about completely unrelated nonsense. Just stop.
It's ok to be wrong about something and learn/improve.
It's bad to just keep talking nonsense.
But hey, you do you. Not my problem.
Have you ever heard of anyone using bitcoin for anything other than speculation?
Yup.
Cool
where can you go and buy a burger and a sodie pop with Bitcoin?
Where can you do the same with gold?
Gold is a physical good with intrinsic value and real uses beyond it being valuable.
ETA - gold is also generally bought as an investment (or jewellery/decorative purposes, or for industrial use), not for use as a currency.
On Yelp you can search for burgers and check the "accepts cryptocurrency" filter.
My brother decided that Bitcoin was likely to steadily increase in value (in the long term) and spent about a thousand bucks to buy three of 'em. Then he got hit with some surprise money trouble and had to liquidate, losing about a third of his investment.
He was not amused when BTC became an investment hype.
I upgraded my PC with my Bitcoin. Making $800 off a $20 investment was a great deal IMO.
I wish I'd forgotten to check on it...
I discovered I sold my old PC with the HDD with mined BTC when compusa announced you could buy components with bitcoins, but tbh I think I would have used all of them when their value was still very low
I'm not a fan of participating in money laundering schemes
Just saying that, by far, the most common ways to launder money have nothing to do with btc. It can be taken advantage of by criminals just like usd or any currency. Go to a casino, exchange usd for chips, cash out chips...laundered. Apparently it's very easy no matter what currency you want to use so not liking btc is fine but it can't be because is laundering.
“While casinos and junkets have for years served as vehicles for regional underground banking and money laundering, the proliferation of ... underregulated cryptocurrency exchanges has changed the game, allowing for faster anonymized movement of funds"
From a 2024 UN report on money-laundering in casinos in South East Asia
Money laundering with casinos and with crypto aren't necessarily separate issues, particularly with the rise of online and digital gambling.
Casinos can be and often are fined if regulators suspect money laundering - the majority have systems in place to crack down on it. Crypto is part of this arms race between casinos and criminals.
Yes, crypto is rising to the level of corruption of the usd but isn't there yet. One big difference, you can print more usd(and do all the time at a heafty rate). You can't print more btc. Ever.
To be fair, USD is used for things that aren't crimes as well. Bitcoin has no utilities other than crime and speculation
So email hosting, VPN, domain names, supporting content creators, buying PC parts -- are these crimes?
Those things can be used for stuff other than crimes. Holding Bitcoin itself isn't a crime, but there's not really any use cases for it outside of crime.
there's not really any use cases for it outside of crime
I just listed 5...
This guy launders money
You oppose the US dollar backed global banking cartel?
2017-12-11: $16936/BTC
2025-06-20: $103043/BTC
If it was worth one thought at the last panel, then it's worth six thoughts today.
I'm sure that Bitcoin is eventually going to crash back down to 0, but it might take anywhere from a decade to 50 years.
I had a few bitcoins back in the day, I remember trying to mine some, but I think someone just gave a bunch.
Either way, I long ago wiped the disks that they were on and I know for sure I would have sold them as soon as they would have been worth a nice pizza or similar anyway.
There is no way I would have believed it would ever become valuable, let alone this insane.
Some people understand bitcoin, others draw cartoons. 👍
Well yeah it's hard to draw while you're jerking yourself off
Post this on Nostr and wait for the backlash.
Hello fellow Cyanide and Happiness fans!
Cyanide & Happiness (C&H) is a webcomic created by Rob DenBleyker, Kris Wilson, Dave McElfatrick and Matt Melvin. The comic has been running since 2005 and is published on the website explosm.net along with animated shorts in the same style. Matt Melvin left C&H in 2014, and several other people have contributed to the comic and to the animated shorts
Read more: https://en.wikipedia.org/wiki/Cyanide_%26_Happiness
Hope you enjoy and feel free to contribute to the community with art, media, cool stuff about the authors, tattoos, toys and anything else, as long it’s Cyanide & Happiness related!
@MrSebSin@sh.itjust.works started this community and wrote:
About this community and how I post the comics… Many moons ago, I would ask my Dad to save the newspaper for me everyday so I could read my favorite comic strips. Of course these days you can read your favorite comics online instead of a newspaper, but I love the nostalgia of reading the daily comics. Anyway, one of my favorite current comics is Cyanide and Happiness and I will be posting the daily release from their website (https://explosm.net/) and a an extra or two randoms.
Subscribe to all the daily comic communities!
All comics posted are freely available online. In no way is the poster claiming ownership, copyright or anything else. This is a not for profit community, we just want to enjoy our comics, thank you.
