Its been years coming, even on this subreddit people treat it like its a stock, but only reason BTC ever had value was because people believed in its potential as a currency.
Now we know its way too volatile to be useful currency, so anyone invested to BTC now is looking for the last sucker to buy into the lie and cash out.
Only people who disagree with this are the ones who are still holding any crypto, naturally you want to keep up the lie long enough for you to cash out your 'investments'.
Its over for the magic internet money.
BTC has no future as a currency and everyone is just looking to cash out.
byu/bullips inbtc
Posted by bullips
40 Comments
Haven’t people been saying this since BTC was worth like… a few cents?
What’s up with today, and all the BTC bearish posts that keep popping up?
BTC hasn’t been realistically thought of as an actual currency for many years now, but anybody if they’re being honest, it’s just a store of value. They pivoted to it being the new gold standard a long time ago. Nobody is trying to buy anything with bitcoin anymore. The price is fluctuate way too rapidly to try to use that as a currency its stupid.
BTC has been an open ponzi since 2017.
The pedo-class began subverting the project to make it a useless fork in 2013.
BTC isn’t a currency. It’s a “Number Go Up” (NGU) dollar toaster market ponzi.
They were using bitcoin mining as a monetary pipeline to cash out natural gas leases that were underwater, but the lease holders see a better value controlling punters with AI.
Seems like you’re comparing Btc to. Cash. Nobody holds cash as an investment because it always, always loses value over time and is also tied to nothing. Btc goes up over time. Same belief system but Btc is limited
Now we know it’s way too volatile? It’s the least volatile it’s ever been, which is still very volatile. That’s not a recent discovery. It’s also not viable as a currency for so many other reasons that are not new. Limited transaction speed and throughput, tax implications, reluctance to spend in an asset you hold with the belief that it will appreciate. Why would you hold BTC if you didn’t expect it to increase in value over a medium time horizon, and then why would you spend it instead of USD which is easier to transact in, doesn’t have transaction tax considerations, and guaranteed to lose value over time? Its perceived value is a decentralized network that people trust to function and retain its rules and structure, aside from changes that are necessary to maintain security. It’s functioning more as gold or a collectible, you’re just substituting any tangible value for the value of a secure and consistent rule based network. Time will tell if it has a future I have good reasons to doubt it as well as believe it will continue to serve as a unit of account, but if it doesn’t it won’t be for known qualities you are framing as recent developments.
That’s just like, your opinion, man.
Bitcoin is dead. Crypto has moved to AI alt coins with a purpose that literally are printing money by staking
imma let this post age and take a screen shot and lets see what happens in a few years 🙂
We’ll talk in 10 years.
Meanwhile the absolutely pointless resources being wasted on all the computation… of nothing
Oh ok
https://x.com/bitcoinnewscom/status/2033967355483615732?s=46&t=wTa3wvzlNFE_XCrLGOa4IQ
Apparently you don’t keep up with the news. Jack Dorsey is auto enabling Bitcoin payments through square for all users on March 30th. If you use square to receive payments you would have to go in and disable it. That’s millions of small businesses.
Nice. Definitely getting close to despair phase.
Bitcoin will go to $200k, $300k, $400k, and so on and you’ll still be right. So keep coping that it’s over.
Ironically BTC was more valuable as a currency when it was used to buy the pizza.
The suckers are the financial entities.
On chain data shows retail selling and institutes buying
Ok now do some research. Bitcoin Circular Economies.
Tether destroyed btc I will say it until I die. Having a 1 to 1 peg to the dollar and unlimited mint lol.
btc is at a year low of 70k and its not even adopted as a widespread currency yet lol.
Sounds like someone sold the bottom and is looking for a reason to feel better about it.
Bitcoin as digital gold makes 100% sense and that’s where it will land when everything is said and done.
This isn’t the big groundbreaking revelation you think it is, OP.
This is the exact same attitude for everyone who has any retirement investments whatsoever.
Everybody holding an SP500 ETF in their 401k is banking on it going up in perpetuity, but someday hoping to sell it to some “sucker” who wants to buy into the “lie” that they also need to save for their own retirement.
You’re not exactly dishing out any truth bombs here that haven’t been known since block 0, lol.
The majority of stocks operates the same way. People don’t care about the tech, they want to eventually cash out returns. Prices are inflated far above their use case. Ai stocks/tesla for example.
It withstands the tests of time.
It’s always been a pyramid scheme but those speculators just refused to believe it.
This is just a silly take.
L
Go tell that to blackrock and all the suit and ties buying it then
fvck btc
“Too volatile to be a currency”: for now. The whole theory is that fiat currencies are doomed. That hasn’t changed. Btc is a back up currency money should fiat fail (which many of us believe is 100% mathematically baked in)
We are in “Bitcoin is dead” phase of the cycle. Glad to see this. Again. LOL.
Post like this show me we are reaching for a bottom. Bitcoin didn’t go from fractions of a penny to tens of thousands of dollars by accident. These post come from people that still blindly believe in fiat currency even though time and time again they fail. Bitcoin has never failed and never will.
Let’s hope so, as much people as possible cash out, so that I can buy for lower prices. Please set yourself a reminder to this post in 8 years.
u/bot-sleuth-bot
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RemindMe! 360 days
Good
3 years up 1 year down
October 2026
See you there
hell ya! Sell the magic internet beans! I always enjoy assisting my fellow orange brothers to find despair before me… helps me time the bottom.
I never once felt Bitcoin would be currency. I always felt Gressham’s Law would solidify it as digital gold. It does NOT mean it failed. Any more than gold has failed.
Ah shit, here we go again.
Bull market ->
I wish I bought more when it was cheaper🥺😔
BTC GOING TO THE MOON
I AM ALREADY BUYING MY LAMBO
BTC is PUMPING 👀
DIAMOND HANDS 💎🙌
Bear market ->
LOL. I ain’t buying that shit 🤣😏
BTC has no future
don’t catch falling knives
Every damn time lmao