Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. As such, it is more resistant to wild inflation and corrupt banks. With Bitcoin, you can be your own bank.
Bitcoin is dead. Long live bitcoin.
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He’s speaking the truth, he doesn’t understand
“It's very attractive to the libertarian viewpoint if we can explain it properly. I'm better with code than with words though.” ― Satoshi Nakamoto
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Number go up...
At least he understood “line keeps going up”.
It's it number go up? Or everything else go down?
Not necessarily.
There's always more stuff, never more BTC, that's enough for it to go up.
I'm no expert (so please feel free to pick this apart and help me learn more cause this stuff evolves and changes p much daily but at least weekly) but in my opinion from what I can see across America at least. I think everything is collapsing slowly and as everything else "goes down" people are starting to give up on American money and nothing has value really if it's an valued in the American dollar (and I don't say that to be factual. It's just my opinion. Since we came off the gold standard and printed more money nonstop for Like 40-60 years or so since. I just think USD is worthless tbh and increasingly worthless as time progresses which is why I got into BTC in the first place.) So now all these die hard that only did stocks or real estate and never believed in or knew enough about crypto that just stuck to those guns, those are the people flopping rn. I really do think BTC has the potential to completely devalue several if not most of even all individual country currencies. So I guess in a way as things like stocks crash, and real estate crashes, and inflation has crippled anyone using that inflated currency all that's gonna stop and more and more people will turn to BTC and Blockchains and etc finally because they almost have no choice. BTC going up (and especially right now through these big crashes and markets crashing like ftx. I've heard speculation that Binance might be about to tank as well. several others as well but idk how much to believe.) Is caused by people flocking to BTC rn cause it's the only thing stable rn. And that Bitcoin halving is coming up next march, I'm expecting a potential 100x according to another post from this sub, but realistically I'm only planning for a potential 50x. So low-key BTC is the only thing stable or going up. USD, fiat currencies (which is the real scam) backed by banks, all all these banks and ponzy scheme crypto exchanges and altcoins and blah blah blah they're all tanking trying to hang on to the dying USD. Finally those diehards are switching over and we're experiencing growth currently because everything else is tanking rn has tanked recently or has potential to tank at any second really. Thats just markets tho numbers wise, and algorithmically, BTC is designed to increase its value by creating its own scarcity which is supposed to cause the value to grow all in its own.
Sorry if all that's confusing and jumbled together friend, in summary: The growth or "going up" we're currently experiencing rn in my opinion has p much nothing to do with algorithm (although BTC IS designed essentially to constantly scale and increase its own value already) and everything to due with failing economies and companies "going down" or even all together just full on tanking, outside of itself. The rest of that "going up" will come later over time.
He sounds butthurt!
Is that sub satire or real? I can't tell anymore
It's a vicious cycle.
It goes through both stages.
It's a source for a good laugh from time to time though.
It's real. They hate crypto for some reason
Honestly i would love to see more of these clueless buttcoiner posts, this is hilarious.
Hahaha…. Zing!
Isn't this exactly the building blocks of their sub lol
Looking at the Buttcoin mods history is the most serious opportunity loss porn you'll ever see. These dudes been hating since sub 100 BTC. These are some of the saddest creatures on the Internet.
If you had bought $100 of bitcoin on the day the arr buttcoin sub was founded, you'd have $222k today.
Your numbers are off. It's closer to $900k as bitcoin's price was under $5 when the buttcoin sub was founded.
Holy $$$$hit!!
I'll steal this.
Yea and as soon as it hit 1000 everyone here would have sold.
I would’ve sold at $4.90 at this time in my life
I didn't. Still sitting on my stash I accumulated at sub $11.
Yeah they’re just sour FOMO
Except a lot of them actually missed out.
Their argument is now, that BTCs price is not in USD but in "Tether units", which they say is not backed by or convertible into USD at all. If cognitive dissonance pain grows too strong the mind will use any escape hatch it can find I guess.
They also think that exchanges no longer allow us to sell bitcoin for cash. They think we can only exchange our bitcoin for tether and other stablecoins. "You can't cash out, so the only direction is up!"
"Are you sure you are cashing out to a fiat bank like chase or boa and not a stable coin?"
from u/i-can-sleep-for-days
That user is actually so fucking dumb that they assume we're not smart enough to tell if we know the difference between fiat and stable coins....
That sub blows my mind. It has got to be the largest gathering of the smallest IQs on the internet.
Given the choice between horror and nonsense, many people will choose nonsense. It's an unconscious coping strategy.
Would make for a cool bot in that sub.
instabanned by the snowflakes
Truth. They completely reject the idea that technology evolves that use cases aren’t always obvious at the start and adoption takes time. Then they have the balls to call us stupid.
No. You would have 1 BTC. What you said makes no sense
Don’t be silly. You’re acting like people don’t value things in various units. If I bought one ounce of gold in 2000, I would still have one ounce of gold, but I would simultaneously think of it as a rise from $279 to $2,030.
Whether it’s stocks, metals, or crypto, there is always a way to convert to spendable currency.
Just wait until 2032, the sadness hasn't even begun.
Every second that passes these dudes get more poor and more wrong.
I can't actually believe that none of them bought any just in case, or out of spite.
They have too much investment in the trash talking to not have any skin in the game.
At least 1 of the mods lost his private keys. Which is why he’s so sour. Before he realized I was a bitcoiner he said that. Then when he realized I was he blocked me.
They don't have any money and realize their only chance at happiness has long since passed.
And angrier and angrier
Poor, wrong, few
like a jim cramer sub
And not the wallstreetbets type
I bet there are people there who are holders but are making an effort to spread FUD so they can continue stacking cheap sats. To claim Bitcoin is dead for the X,XXXth time just seems completely insane (though I don't doubt some of them are actually insane).
Or it's some weird masochist fetish lol.
Now that's 4D chess
It’s similar to the sick thrill that keeps wsb alive.
Nah that sub is pure gold. You’re just not regarded enough
I regularly post to buttcoin and enjoy it.
I just assume everyone there that actually hates crypto is salty from losses or being late, but I’m not hating.
It's like the tech editor of the guardian. Has been following and spreading fud for years and years now. Enormous L
Truly a miserable hobby.
Imagine religiously following a topic such as Bitcoin, with sole purpose of trying to be right that.... iT wOnT WoRk
Probably whales just spreading FUD honestly
I could understand not being interested in BTC. I don't understand hating it so badly that you commit your time to trying to find everything that is wrong with it while it continues to climb.
I’ll never understand any of these subs that exist just to hate on something. Go find something you enjoy, stop living in negative energy all the time.
It's psychological projection.
When we have an inner battle over something, we tend to project it externally. So it feels like the battle is happening outside, but really it was happening with you.
All the Christian anti-gay preachers who turn out to be gay, all the pedophile hunters who turn out to be pedophiles etc.
The external conflict is really just the tip of the iceberg - they're obsessed with it because it's this ever-present inner tension. And because it's unresolved, that's why they keep coming back to it, why it takes up so much of their attention. They're really just trying to talk themselves out of it.
We all hate countless things, right? But we don't spend hours of each day waging war against them.
If someone hates something and argues against it when it comes up naturally in conversation, that's normal.
But if someone is consumed by hating it, invests huge amounts of time in fighting it, it's a big sign that a part of them is secretly into it.
Yup those people are totally gay for Bitcoin
Exactly!
I’ve owned bitcoin and Tesla for years. Good explanation of what seems to happen everyday in media and the internets. Makes it weird to own these…but also entertaining
I can top that - I own bitcoin, Tesla, and an actual Tesla I bought with my Tesla profits!
Half of Twitter think I'm the antichrist.
I've only had positive interactions IRL over the Tesla. A lot of curiosity and questions asked in good faith.
I think it's a vocal but small minority of basement-dwellers who invest their time in waging keyboard wars against stuff like this.
The thing with endless crusading is that, if you don't eventually get tired of it, you have problems. If you don't already have problems, you'll get them soon enough.
I'm talking from personal experience.
Take my upvote and now you have exactly 69 likes.
You sir, are a gentleman.
I was banned there to have said this.
Everyone gets banned over there for saying anything sane.
Weird how the coin is fine but some exchanges aren't.... if only there was a way to put my btc in some type of cold storage 🤪
At a glance from a birds eye view its a growing network of users that's downtime is essentially 0 over a decade.
The vast majority of people hating on it as hard as they are do it from an unlogical emotional place.
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You need a tiny bit of it... if only to decide what to use your logic for.
But tbh most people think they are using logic, and that everyone else is emotional.
I think the biggest problem is not lack of logic, but using bad logic and being incapable of or unwilling to learn.
It's almost as if I'm not investing directly in the exchanges when I hodl...?
He can't understand because he's too busy hating to think objectively.
Hard to stop hating once it becomes part of your identity. Maybe AI will take their jobs and they move on to hating that.
This describes that sub pretty well. Spent too much timw there realizing they are their own kind of apes.
It’s not bitcoin it’s these corrupt, ridiculous most of the time completely unnecessary exchanges with their garbage tokens that are the problem
Every time
100%
I own only bitcoin because its the only real cryptocurrency. The rest are just some company or scab trying to make money.
This is bad for buttcoin
Rumor is they're changing the sub name to Butthurt.
They might as well. It's the first thing that comes to mind when I think of "Buttcoin". It's a circle of people that are butthurt about something.
Do buttcoiners think ftx IS bitcoin? Do they think bitcoin is controlled by these entities? Bitcoin just is. That’s the beauty of it.
These are the same guys who will unironically refer to bitcoin as stock lol
Stock represents a portion of a productive asset. Bitcoin does not. Calling it a stock would be very generous.
Calling it a stock would be wrong, as it is a commodity. It does not offer any kind of dividend.
Line goes up. Checkmate nerd
Let me know when your Bitcoin pays dividends like an actual investment
I'm sure a decent number of them think that these are just companies that work with bitcoin and because they work with it, they fail. This in their minds is a result of using bitcoin and other crypto and not the result of shady practices outside of the rules of the bitcoin network. In each case the failure is in the layer above bitcoin, and not in the bitcoin network itself. That is what they miss with this, either willfully or out of ignorance.
they think the price is entirely propped up by Tether. It's useful for them to think that since it's pretty much unfalsifiable. It would be interesting if Tether did fall what they'd use as an excuse after that
Makes me wonder if there’s significant overlap between butt-coiners and flat-earthers 🤣
They lost their fucking minds watching bitcoin go up....they don't know what to post.
You cant find a buttcoiner even with the james webb telescope..
I remember seeing threads of them rejoicing when it lost $20k. Posts like: “here we go boys!”.
It’s amazing really. The asset goes from literally nothing to trillions yet they celebrate when it’s ‘only’ in the hundreds of billions. What a strange bunch.
Ya I occasionally browse that sub and have noticed the same thing.
When bitcoin is going down they are celebrating as if they just won the world cup. The sub literally becomes 90% meme celebration posts.
When bitcoin is going up they ignore it or make posts like the one above where they comfort each other by making up reasons it's up. ("because no one can sell it" "because it's controlled by a small group of oligarch")
When bitcoin is in consolidation they post about shitcoins and NFTs.
They are similar to sports team fans, or people who build their identity on a political party. they will shout and scream that they are right, you are wrong and bad because you think something else. They will deny and ignore any evidence you bring them to support your argument and will provide little if any evidence from their side. In the end they don't want to admit they were wrong, ever. They cannot grasp the concept of being partially right and partially wrong so at every turn, they are right and you are wrong. Admitting being wrong about any one aspect means the rest of what they said is wrong too, so never give an inch.
I have been wrong about bitcoin on a number of occasions. So have a lot of bitcoin supporters. I will admit I don't have a full grasp of how it works and the math behind it, or how the market for bitcoin works. bring me evidence supporting your view point and i will consider it. I highly suggest more bitcoin users take the same stance. We are better for it.
Literally one month ago when BTC dipped to about 20k. Some butthurter on there said "last chance to buy above 20k"
Let then buy bank stocks.
I’ve been banned from buttcoin because i said i made a lot of money from btc. They are so salty it’s insane
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This. Exactly this.
These guys are seriously retarded. I commented on a post about money laundering the other day saying something like.
Crypto came before money laundering. Money laundering is a result of crypto. There was no money laundering before crypto.
They downvoted me to oblivion and brought the goons out. I came back saying
Oh, were those statements not true?
Simply by arguing with me, they have confirmed they know my statements aren't true. And thus negating their own argument. They don't understand this. Idiots.
Serious regards, agreed
Just fyi: the r word falls under hate speech by reddit's community guidelines and can get subreddits shut down. That's why wsb says regarded instead
These are obviously false statements.
Yeah, people tend to downvote comments saying obviously false things.
Why didn't you say what you meant instead? Then people could actually reply in good faith. If you make a false or sarcastic statement, you're probably going to get a low quality response.
They aren't true.
This doesn't negate their argument though. The argument is simply that money laundering is easier when AML regulations can be circumvented.
You might disagree that cryptocurrencies can help circumvent AML regulations, or you might disagree that helping circumvent AML regulations actually increases money laundering in practice. If you said one of those things, there might have been a better discussion.
As someone who has been banned from that sub, this makes me laugh really hard 😭
Banned Gang
+1 over here! There was a time when I didn’t like this sub because I wasn’t too much into Bitcoin. I then went on to Buttcoin to see find some legitimate criticism but boy, all I found was swarms of violently dumb and hateful people. At least since then I know that love or hate bitcoin, those into it are in fact the main characters lol.
+1 Here also.
I went to that sub years ago looking for valid arguments against bitcoin when I was still on the fence about it. iirc I was banned for mentioning the fact that eventually bitcoin, along with everything, will run off of renewable energy. It's a simple fact - we either switch to renewable energy or we eventually run out of fossil fuels but if you say anything that isn't a direct insult to bitcoin, you're banned.
Still haven't found a valid argument against bitcoin btw
Banned for saying no matter what asset/business your in whether it be crypto/traditional. More money always comes with more stress
1+ and I was only banned for making a good point. Ultimate eco chamber over there.
Same🤣
Imagine being aware of Bitcoin, keeping up with it, and not owning any. Ooof.
"Best performing asset in human history? Nah, bro, miss me with that. I'm going to allocate only to indexes that don't include that asset."
They exist to sweeten our ride up and over.
Have you read their comments? The excuses and reasons they come up with every little pump 😁. This is my second bear market of hodling and its much more enjoyable. That sub should be called 'Butthurt'.
Got perma banned from there today for commenting that I go there for comedy lol
US currency debasement, global inflation, it’s just so hard to understand why…
The mental midgetry of that sub is astounding.
I lurk on Buttcoin because however much I may disagree with their tantrums, I still think it’s important to leave echo chambers and experience unobstructed counter opinions. Their arguments are mostly just petulant whines, however.
I have a theory that a huge portion of those Bitcoin haters are closeted sat stackers.
Do they not realize that crypto exchanges have been collapsing since the very start? 😂
Dude thats got to be one of the strangest subs to be a member of lol
Buttcoin used to be a place you could go and rationally debate crypto.
These days the mods are bratty children who will bait you into going there by tagging you and reposting your topics, and if you do go there they will lord over you the fact they are mods and tell you that you’re not allowed to advocate for crypto, unless you do it specifically by their rules of arguing.
It’s all so petty and disgusting. Then they will inevitably ban you for disagreeing, and when you tell them to go fuck themselves in their stupid mod chat, they’ll report you to the admins and you will likely lose your account.
Fuck them. And fuck their useless subreddit. They were spouting the same stupidity in 2014 when Bitcoin was $200 and they have been wrong more and more every day since.
Honest to God I cannot understand the existence of that sub. It's like I hate something, say dog poop, then I join an anti-dog poop subreddit and pour my heart out? Like do I really have nothing else better to do?
CartmanLickingScottTenormansTears.jpg
When will they learn that exchanges have nothing to do with what bitcoin is
And it’s a cycle, the more Bitcoin goes up, the more gains they don’t have, so the more mad and bitter they get.
FTX + Celsius + Voyager ≠ Bitcoin
I actually joined that sub for a bit hoping to hear some legitimate criticism, and figure out if I was leaning on weak arguments or assumptions. But I never read anything but bitterness and rote stupidity
In a sense, you could say he was right: he doesn't understand the why of Bitcoin.
If he had understood the why of Bitcoin, he would have understood that Bitcoin's goals are longer term and that these scams need to be purged in order to get the market going again in the next cycle.
Fiat is unlimited. End
Buttcoin:
- Don't believe in bitcoin <- Fine, each his own
- Want bitcoin to crash and burn because they didn't buy it <- Why?
It's such a negative perspective. To hate stuff. Chose something to like, not something to hate.
All those you mention going down went down due to mismanagement and greed not because of Bitcoins fault, bitcoin is freedom simple as that, and let this be a hard reminder of NOT YOUR KEYS NOT YOUR COINS, NEVER leave your coins on exchanges..
For those who don't understand the future of money and Bitcoin, I suggest reading or listening to "The Bitcoin Standard".
The first seven chapters barely mention Bitcoin as the author wants people to understand the essence of money, the first coins, their history, etc...
The author does a good job explaining how "money" including precious metals, fiat and Bitcoin have been and are now used. He also speaks about the banking industry and other facets of govt controlled assets.
If only you could control your own keys instead of them being hosted 'securely' on another man's computer. I could worry less about what people are saying about bitcoin.
The same day that I discovered that page is the same day I got blocked lol.
One guy told me to have fun staying poor. I bought more right after that comment. Btc was around 16k-17k.
Lol magnificent. My lowest buy this bear market was $17,225. I always seem to run out of trash cash when bitcoin actually finds it’s bottom bottom.
Tried to tell em'.
Aput 90% of Bitcoin isn’t on an exchange. It’s held in wallets like physical gold. It’s good enough that the holders refuse to sell it. Have fun staying poor.
Why do we keep getting paid in dollars if banks are collapsing
Those miserable losers have nothing better to do than constantly monitor something they hate for no good reason that isn’t affecting them.
They can’t be so serious about their ignorance? Can they?
its funny really, they can talk a day long about how it is going to zero... but they can't deny NGU lol...
Oh so they just truly don't get it... I feel like I knew that already but this guy just proved it lol.
Lol fucking haters. Im just sad Im on the sidelines for all of this. But let’s go!
Don't worry, when bitcoin falls from 140k to 50k they will be there to laugh at us.
Tell me that you don´t understand Bitcoin without telling me you don´t understand Bitcoin.
Ah those salty tears..
starts with 'i really dont understamd'
proceeds to toot its opinion and finds followers. love online subcultures
I don't understand why collapsing exchanges should kill Bitcoin, lol. And I find it hilarious that he thinks that Binance is gonna fall soon. I'm using Bitfinex and keep my crypto in OWNR, but I understand that it's not gonna happen.
Makes perfect sense: without dead weight to drag corn down, it goes up
Whenever I feel bad about the opportunities I've missed, I cheer myself up by remembering that r/buttcoin was created in 2011 when the prices was in single digit dollars. I wonder how the people who posted on there in the early days feel about mocking what turned out to be 10,000x investment?
The post sounds so butthurt - but at least he is honest. He doesn't understand
Frauds leaving the space is bullish long term. I don't get how this is hard to understand
Isn’t that like asking why hasn’t the US dollar collapsed with all these banks going under?
It’s almost as if there’s more to it than meets the eye.
I remember when they were saying exactly the same thing when bitcoin hit $200.
These buttcoiners are clueless
I was dumb enough to think that the buttcoiner members had enough sense to see that the fiat debt fractional reserve system was a Ponzi scheme… they actually believed it to be the only legitimate system.
Buttcoiner members are fiat maximalists, just a more normi version of shitcoiners… they are paper shitcoiners… many of them are also statists and believe in the system of authoritarianism… the FED is their high priest.
Why do nocoiners keep pointing to the collapse of centralized entities as proof of why a decentralized system won’t work?
HATERS
Haha i love when they get mad
Buttcoiners are worse than cryptobros at separating Bitcoin from crapto casinos.
I have zero trust of people who are against something which they can just ignore.
I'm against fiat currency backed up by nothing but I can't ignore it. I'm against shitcoins as well but I can ignore them and most importantly, I have zero problem with people's freedom to trade or do what they want with them.
These people have fascist tendencies though because they don't want to just ignore something, they want to enforce their preference on others by banning that thing whether it be bitcoin or trans people or some form of investment or whatever else they can leave perfectly well-alone.
Not sure you understand technology. Good people and decentralization is the real war of the future
Is that Jamie Dimon or Obama?? Toadiethug sounds more like Jamie
Likely due to the FED selling off a massive amount of silk road coin.
https://cointelegraph.com/news/us-government-plans-to-sell-41k-bitcoin-connected-to-silk-road
Wouldn’t selling a massive amount decrease the price?
buttcoin is a joke, but they will have their hay day again...
I believe I've benefitted tremendously from never having gone thrrr
Nothing but ass on the buttcoin subreddit.
Buttcoin...heheh. Like- way to blow the minds of your kindergarten classmates busting out a potty-pun in public. Who takes these idiots seriously
That sub is one of the most dogmatic and one of the biggest echo chambers on Reddit and they don’t even realize it. Lol.
Definitely, the Beauty of Bitcoin is that it is not for ignorants
thats all literally the Bull case for Bitc0in
He should know this is just an anomaly this time and he should borrow 100k worth of bitcoin, sell it, and buy it back and repay the loan when it is 1k. Easy 99k profit!
Wait. What?
isn't there a significant difference between fraud and a monetary value of something?
at least he is honest
“I am Batman”
The buttcoin sub is not user friendly
Eff these trolls
corning*
Great
Are there other groups on reddit similar to it where people pour all thier hours into hating something so hard? If they spent half as much time actually understanding it they wouldn't be wasting their life. I kinda feel sorry for them honestly
Crowns are for Kings
This gave me a good idea of how to troll that sub.
What a loser hahah
Bitcoin is not FTX or any of those other names. It is an independent thing in itself. Those exchanges are on-ramps not the highway. Traffic on the highway keeps truckin’ along even with a ramp or two closed. There are lots of ramps. Some of them lead to Main Street. Many lead to Bitcoin Avenue where you can buy and sell things in Bitcoin. Got it?
As Main Street develops potholes Bitcoin Avenue becomes more popular. Bitcoin gets more valuable compared to Main Street money.
It is almost like shady exchanges issuing coin balances that don't actually exist somehow depresses the market causing the overall market value to decline....
It’s almost like exchanges go against the very nature of a decentralized currency.
Basics of Economics. Demand and Supply.