/biz/ - Business & Finance

Speaking as a socialist. (This is relevant not politicking, don't fling shit like apes, hear me out) These anons arguments work within the context of our dominant ideology and will play out should that ideology remain dominant, which I think it will for at least the next two decades into the 2040s.
>>19786808
>>19786889
>>19786932
>>19787784
That good shit out of the way. Capitalism as an economic mode of production in an attempt to keep its coherence during crisis can and often will push its contradictions more than it otherwise would in times of normalcy. (Not politicking so I'm not elaborating on those here, if you want an example of empirical examples google "marxism TRPF")

Point being, yes, smart contracts and both ethereum and bitcoin have already proven their value to the market and capital will organically accumulate into their blockchains. But, that's not the whole picture. Irrational exuberance also drives the market, it's what all us smart money investors since the bottom in 2018 have been hoping for. We're very likely entering a new great depression. It doesn't really matter how you approach the question whether from a free market libertarian perspective or that of the left, it's clear for many reasons.

Though conditions seem bearish, and they are for most of the market, the perfect time for massive spurts of irrational exuberance are during times of great desperation. If this depression were to drag on for 10 years it would not surprise me to see bitcoin reach 300-500K and ethereum 50-100K by 2030. Ethereum especially is perfectly in line with capitals tendency towards automation. Financial firms are going to aggressively pursue any efficiency gains they can over the coming decade.

this guy just hijacked the blockchain and now markets everywhere are going haywire

>BTC to $15,309,494,335.24
>ETH to $332,454,306.58
>DOW to -$19,209.04
>S&P 500 to -$113,421.45
>LINK to $999.997

they've been seeing anywhere from 6% to 89% movements up and down within seconds
what do you do?

This guy hijacks the blockchain and gives crypto $999,999,999,999,999 marketcap for 5 minutes before dumping every single token project and to 0. Banks see assets up 999% for 1 minute before crashing to 0. What do you do?