/biz/ - Business & Finance

>>22083562
in case you didn't know, bitcoin was designed as a free market alternative to government issued currencies.
it's most searched for in countries without a functional currency.
https://trends.google.com/trends/explore?q=bitcoin

It begins with weaker 3rd world countries, but the list of failing fiat currencies only gets larger by the day.
Many countries (including the US) may have to print their currencies into oblivion to save their economies in the short term. By the time they notice any inflation, it'll be too late to turn back.

>>18471424
the petrodollar won't survive covid.

>>15594340
all you can do is long crude oil, like a bastard.

>>15587443
is there anything in specific I should look up? Because it's created by steam.
The video I linked does do into some detail about how to produce it as a fuel.
"all you need is your own particle accelerator"

Sadly, it's all illegal to produce commercially. Because reasons.

>>14715522
it's the petro dollar
either use it exclusively or get droned.

>>14040647
Fractional reserve banking was always a scam. Plebs would lend their gold to a bank for a return on interest. You could technically withdraw all of your gold. But not practically.

If enough plebs tried to withdraw in the full amount at once, you'd get a bank note for your gold that you could retrieve on the other side of the continent. You could get on your horse, travel through bandit country and maybe a warzone, maybe lose a horse or family member along the way, just to get where the reserves were held. Or you can play along and spend the IOU, like every thing's fine.

After the industrial revolution, travel became easier, but feeding the ponzi became a bit more difficult. Every nation that had a gold backed currency failed in less than a century. America even started banning the possession of and confiscating gold bullion to keep the scam going.

Thank god the sham finally came to an end. Sure, 1 GBP is worth chicken tenders on the kids menu, not a pound of sterling silver. But now that we can admit we have a problem, we can at least hedge with precious metals. Unfortunately precious metals can't be transmitted digitally. That's the one thing banks really moved the world forward on.

Bitcoin was invented to be a p2p digital currency. Great idea. 1 BTC=1 BTC, no ifs ands or buts.

>>13166186
when crypto goes 10x in a month, there are only winners
when oil does a 3x in a decade, it's nothing but pain and suffering

>>13067081
Mixed results. Norway, Iran, Saudi Arabia, Venezuela and arguably Russia and Kurdistan all have state owned oil. I think that whether or not you piss off the central banks is the deciding factor.
Make of that what you will. I'm a market anarchist. Whether it works or not, it's not worth it.

>>12852033
Long Haliburton

>>12781980
Even if everybody is content with the petro dollar and the psychotic shysters that control it, nobody was asking for a fucking car a century ago either. Everybody likes horses a hell of a lot more than they like banksters.

You're only seeing the tip of the iceberg. It's still the wild west of smart contracts. But the grander vision is to outcompete central bureaucracies with trustless consensus algorithms that eliminate counterparty risk.

We're nowhere near there yet. But it's a revolution worth financing. Most revolutions will cost you your life. This one only costs a few bucks.

I bought into ETH because I saw potential of DAO smart contracts disrupting political/bureaucratic institutions.
Unfortunately it's bloated with ponzi schemes and beanie babies. And there's very little to no market demand for goody two shoe anarchist ambitions.
But maybe the strategy of a revolution disguised as a get rich quick scheme might pay off. But it looks like it may have just backfired.

>>11412351
money about greed?
gee........
YA DON'T FUCK'N SAY?
unironically bullish on petrodollar.

>>11395012
>Nothing can kill bitcoin. Even if we enter deeper into "recession" AKA DEPRESSION then Bitcoin will continue to increase in appreciation until the dollar is replaced
Don't be naive. If you have to choose between selling your car and selling your bitcoin, you'll sell your bitcoin. So will every other hodler. Bitcoin and gold only make sense if inflation is the cause of the crisis. Despite $10,000,000,000,000 QE inflation is no worse than it was in 08.
And if the UN/G8 really wanted to, it wouldn't be hard to block the exchange on/off-ramps. Sure you could still mine it and send/receive it, but even then telecoms could probably interfere.
Right now they're not scared because you can't buy crude oil with it. If we did, then I'm pretty sure we'd be on the no fly list and devs would disappear into undisclosed black sites.