/biz/ - Business & Finance

To what extent is retail invested into BTC? If the stock market bubble pops what will happen to BTC? Will people dump it in order to buy food or will they have diamond hands? In 2020, before the money printing, BTC dumped. I'm looking to enter with a large amount of my net worth and I'd feel wrong buying when there is so much euphoria. It could be nothing compared to what we may see in the coming months/years, though. Google Trends indicate low relative interest compared to the 2017 cycle.

They're always so angry. A normal human being (a real stacker) would chill out and discuss the content of their memes like adults instead of accusing literally everyone else of being a troon, or someone nammed "Jesse".

>>57932965
Gold has no inherent value either you retard. Hard money does NOT have to have any utility besides it's scarcity. Utility accounts for barely any of its market cap and if that's what accounted for all of its valuation then silver or palladium or platinum would've FAR eclipsed it by now.
Gold is favored over fiat because it's supposedly scarce. Unlike fiat, which central bankers can print more out of thin air every year to fund their bailouts or forever-wars, they can't do that with gold. It also is very resilient, it doesn't corrode.
There's massive problems with gold though: division is terrible. Verifying that the gold is actually gold and not just gold sprayed copper takes too much effort. Carrying it around is physically hard. It's being inflated 1% to 2% each year by miners digging up more from the ground. Not to mention you pay a 10-15% premium on buying gold. If you buy ETFs holding gold then that's just an IOU and you have counterparty risks and completely negate the advantage of gold, might as well just hold bonds or stocks at that point. STILL, people prefer it to shitty fiat because it can't be debased THAT easy by governments.
Bitcoin fixes all of those issues. It's a hard asset that nobody can tamper with, it separates money from state. It's verified and validated by free market forces. It's infinitely divisible extremely easily. It's fungible. But most importantly it has a fixed supply. There's zero chance in this world that there will ever be more than 21 million bitcoins. EVER. So it's a deflationary asset by nature.
You have no idea what money is. What hard money is. Pre-colonial indians used fucking seashells as a store of value, until europeans arrived and just went to a different island to collect seashells where they were abundant and completely crashed their markets. Seashells had no inherent value either besides being rare at that point in time to them. But it was a shit asset because it wasn't rare in other parts of the world.

>icptards will look at this chart and say its bullish

>>57816478
>it doesn't matter
Retard. Yes the government won't default because it will just print more money out of thin air. Who's going to end up paying for that? YOU nigga. You are paying the inflation tax. They will debase your currency to pay off the debt

>>57799322
>How many people would still buy bitcoin if the price remained constant
Retard, the aim with bitcoin is to get the price to stay constant. Bitcoin is getting appreciated fast because it's tracked in USD which is losing value fast. People just simply want a form of currency that holds its purchasing power long term. If you hold USD to pass it down to your kids, by the time they're adults it will be worth nothing. That's why people resort to swapping it into scarce goods like real estate (which is why aspiring homeowners are priced out) because fiat is just unstable hot potatoes money that you want to get rid of as soon as you don't have to transact with. Bitcoin fixes this. It's going up for now because it's an opportune time since many retards like you haven't realized it's sole purpose yet, so those who do can frontrun idiots like you. The high IQ people benefit from this, but in the long run when the USD is crashed bitcoin will serve a single purpose and that is just to preserve its purchasing power since no federal reserve deepstate person can print out new bitcoins to fund their own goals (whether that's bailouts, wars, or other programmes)

>>57792427
Don't let him see this it'll break his mind

how sustainable is this?

>>56438950
No depreciation ?

>>56387403
buffet just had theta and delta on his side.

>>56297147
Some retarded millionaire will come up with his own chain where everyone can be constantly in profit. He'd have to be very proficient in market making and keep everything illiquid so no one can really jeet. If only any of this sounded familiar...

>>56201927
Its built on keynesian bologna

Gold standard was removed in 1971.. so why was the dollar dying from the early 1900s when the gold standard was still a thing?

>implying it wasnt over before it even began

>>55937787
lol. lmao. even

>>55731420
zoom out

>>55394595
In 1913 I kept telling everyone that dollar is a fucking scam and well would you look at that

>>53519834
sky high inflation is integral to the monetary system

>>50667471
>>50667492
you have a dollar-normalcy bias because usd is the unit of account. btc didn't "lose 50% of its value", its dollar denominated exchange rate depreciated by 50%, primarily because the federal reserve deliberately pulled liquidity from credit markets, eg they deliberately broke the system for which they are responsible and engineered a liquidity crisis as a bandaid for the dollar's weakness. that you gauge value in USD is a problem, because it blinds you to its constant depreciation and accustoms you to manipulative monetary policy. The dollar's relative value is in constant flux according to supply and demand, if you priced goods in a different unit such as sats or oil bbl or even ounces of gold you would be as unsurprised as I am to see the dollar exchange rate varies wildly all the time