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Bitcoin Trips At Its First Major Test

https://www.forbes.com/sites/simonconstable/2018/02/07/bitcoin-trips-at-its-first-major-test

RBC detects a fledgling relationship between bitcoin and gold

https://www.cnbc.com/2018/02/07/a-relationship-between-bitcoin-and-gold-exists-rbc-analyst-finds.html

Bitcoin Mining Is Potentially More Energy-Intensive Than Gold Mining

https://motherboard.vice.com/en_us/article/a34gjb/bitcoin-mining-more-energy-intensive-wasteful-than-gold-mining

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Takeout? Bitcoiners are fast running out of arguments!

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The fantasy behind Bitcoin's rise is, that it will take over the world. That was the idea from the beginning. Bitcoiners lay their trust in the Lightning Network. They claim, that energy consumption will decline drastically after LN is implemented.  Also transactions will cost almost nothing then and money-altcoins therefore unimportant. Bitcoin will rise until all of the money of the world is converted into Bitcoin as it is limited and therefore the superior money. After that, it will have a stable price, that means, it will have no price at all, because everything will be denominated in Bitcoins. The infered intrinsic value of Bitcoin is therefore unlimited. In the end, when all fiat currencies have been eliminated, also use of Bitcoins for payments will pick up, as everybody has to consume to survive, so nobody can hold on your Bitcoins forever.
After that, there will be no changes in the world's money anymore, as Bitcoin will rule supreme forever. That is the idea of Bitcoin.

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7 minutes ago, Zockempire said:

The fantasy behind Bitcoin's rise is, that it will take over the world.

Enough said.

8 minutes ago, Zockempire said:

After that, there will be no changes in the world's money anymore, as Bitcoin will rule supreme forever. That is the idea of Bitcoin.

Sure thing, damn, why did I invest in XRP??? I must be just plain Stupid.
I will sell all my XRP now and buy Bitcoin or should I buy Bitcoin Cash or maybe Bitcoin Gold. Or maybe the next edition called BitchCoin.
I really cannot make up my mind right now,  but I guess, at least I can buy another Fork, No?

Or a spoons coming soon, then I prefer a Spoon.

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@Zenkert. I just wanted to point out the thinking behind BTC maximalists. What is the intrinsic value of Bitcoin, if it does not succed in the way I described above? None!! Why pay 10000$ for a coin, that is not used and technically obsolte. For Bitcoin it is a binary outcome, either rule the world or become worthless. XRP is designed to coexist in a world of fiat currencies. That is the reason, it is hated so much by many people in the crypto space. If Bitcoin truly succeeds, there will be no XRP anymore.

Bitcoiners think, that with Lightning competing coins will die out:
https://www.forbes.com/sites/ktorpey/2017/12/28/will-bitcoins-lightning-network-kill-off-altcoins-focused-on-cheap-transactions/2/#3a8f345a28d5

Edited by Zockempire
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  • 1 year later...
3 hours ago, blissann said:

Only time shows. No one really knows, but as bitcoin improves in the long term, I think a significant amount of money will move to bitcoin; though not 100%, because gold still has unique use-cases that bitcoin doesn't have.

Do you see bitcoin improving?  I see things getting progressively worse from just about every possible quantifiable metric.  

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