/biz/ - Business & Finance

>>10007938
look at the like dislike ratio. too many people still belive. we have a longer way to go down

lmao i love jordan he's so salty

>>10007938
>implying he's wrong
I sold when I saw his first video, BTC was around $12k then. Dumped everything into fiat, and thank god I did

damn this guy almost goes as far out of his way to fud as link bagholders
>3 min mark: I've still never bought a bitcoin-
He's a nocoiner. Shouldn't he be shorting this shit?

>>10007938

yeah I don't know how people think the bottom is near anytime soon, we have yet to seen any real capitulation. Go pull up a commodity chart like NG or WTI and look how fast and sharp they go down towards the end, and those are actual commodities with actual uses. Natty used to trade mid 4s, it dropped to 2s in weeks. Remember when oil was in the 100s? It printed 20s not too long ago. This bitcoin drop is nothing so far, and you won't have an actual "bottom" without capitulation, or BIG and OBNOXIOUS SELLING

>>10008083
Lmao. You realise that oil crashes for actual reasons?
The BTC crash was an artificial banker pump and dump. The tech and ecosystem is better than ever and improving rapidly. There is jo real reason for it ever to go down again.

>>10008131

>There is jo real reason for it ever to go down again

lol

>>10007938

Thanks for the buy signal.

>>10008131
There is no reason for it to go up either....

>>10008142
Do you understand the difference? Oil moves because of wars or international trade deals. Bitcoin moves because of retarded korea fud. BTC has as much utility at 20k as it does at 6k. More, even.

He's right
He's right about everything
Face the facts, we all got suckered in and are too sunk-cost cucked to pull out

https://www.youtube.com/watch?v=k2iyA4T3e_o

>mfw he's upset because he "cares about millennials"

At this point I think he's right. What reason is there for him to lie? sure he might be shorting, but like he said, he was once "on the other side" and it'll be dumb not to take him somewhat seriously. Think of how many whales there are that could wipe out the order books without even selling all of their BTC. In a scenario of a real selloff, panic will be so high that exchanges will freeze, and there would be no way for you to cash out. As someone who still has a lot of money in crypto, that's fucking scary.

>>10008320
>In a scenario of a real selloff, panic will be so high that exchanges will freeze, and there would be no way for you to cash out. As someone who still has a lot of money in crypto, that's fucking scary.

It wouldn't happen. There's now blood in the water with the kinds of gains that can be made with crypto and at low enough value people will pump fucktons of money into BTC buying it up

>>10008320

His main thesis is that bitcoin is a security and the government will ban them. He claims to know all about crypto and blockchain yet throws the typical "blockchain great cryptocurrencies bad" arguments that show he doesn't understand even the basics. Let that sink in.

The guy is a fucking scammer and he's angry he didn't make any money with this. That's it. Why else would he be ANGRY? If he actually didn't care about this at all he should be neutral.

>>10008368

You sound like a really obvious bag holder

>>10008373

Nice ad hominem. Did you watch the video? He literally said all those things. You sound just like him. You want to see this whole thing fail so bad because you fucked up and didn't get in early.

>>10008221
>>10008131
>theres no real reason for it to go down again
>no reason to go below $6k
>no reason
you sound like a fucking cultist anon
anyway
>Lmao. You realise that oil crashes for actual reasons?
>The BTC crash was an artificial banker pump and dump
you realize oils major trends are created by artificial pump and dump fuckery from OPEC/KSA, right? they create false scarcities all the time. wars and trouble in the middle east can cause market to price in lower supply/increased demand, but the major trends are caused quite literally by manipulation (and the far reaching effects of it).

see the difference is, right now, since OPEC crashed oil so long, their competitors are broke, but theyre almost broke too. since everyones outta business, the demand has soared and supply has dried up. there arent enough producing it. so as a result, all oil countries are suddenly gearing up to make money off oil. and demand is STILL high enough to keep prices moving up. this whole type of price action is because oil is a real thing, and people need it.

this will not happen with BTC because it is not real, and people DONT need it. the only reason people want to hold it is because it will go up. but its not going up anymore. its broken. as more and more people cash out of it, after continually losing money, it will go down. there will be spikes and bounces like any crashing commodity, but the old faggot is right. there is no bottom. there is no floor. and less people holding it means less liquidity. if it starts crashing in a serious way, we will see it go down into literally nothing. the reverse splits will occur naturally as BTCs value decreases logarithmically into absolute nothingness.

TL;DR
ur fucked kiddos

>>10008413
Hahaha. The price of oil is whatever the US political elite wants it to be. You think the Iraq war was about ... what exactly? Hows that search for WMDs going?
>BTC is not real
Oh ok if it's not "real" why dont you go off and counterfeit a few BTC? Ill wait.

Fuck. It's actually all over.

>>10008331
Sure. Even Bitconnect and all these other scams pumped after crashing 90%. But how do you know this scenario won't happen? Let's be real. There's no reason for Bitcoin to be that high. No reason other than speculation. The fact that it is the main instrument for criminal to launder money is concerning, and I genuinely fear that a REAL crash can happen. I don't know man. I wanted to believe in crypto and the gains made me (and I believe all of us) blind to how corrupt and, quite frankly, useless it is. 99% of cryptos are either scams or vaporware, and probably both. Again, as someone who still has a lot of money in crypto, I'm scared as fuck.

>>10008368
Yes he might not be a computer scientist but so what? he is right about everything else.

>>10008413
Spot on. I know this about myself and everyone I know who got into crypto (hell, this board is the best example of how prevalent this thought it) that the only reason I hold ANY crypto is to make more $. I NEVER used it to do anything other than hold it hoping the price will rise and I could cash out, and so does everyone.

>>10008458

What is he right about exactly? In december or something he said it will come crashing down at some point. Sure, everyone fucking knew it wasn't going to go up forever? How is that fucking news for anyone? And now he says it might be 7k tomorrow or crash even lower. Yeah, no shit man. Basically all he says it can go up or it can go down. He's just a good talker/salesman so it seems to you that he's actually saying something new and important. And he wasn't only wrong about tech he said it's a security and the government will ban it. Didn't happen did it?

>>10007938
Who needs oil when u have BAT?

Earn 0.01$ per video with BAT

Rated #1 method of passive income in India

>>10008517
It's not about that, common sense will tell you it's going to crash at some point after such a rise. What I fear he's right about is the "crash of all crashes", the one that will leave us unable to cash whatever we have left in crypto because there will be no liquidity anymore. He is right about Bitcoin's price being nothing more that speculation - it could be ANYTHING from 0 to whatever. He is right about governments going to put a stop to crypto when they feel threatened enough. It doesn't fucking matter that it's decentralized, if you can't trade it nowhere you are screwed. He is right that crypto, at least currently, is basically vaporware and that scams and corruption are deeply impeded in this space. If this doesn't make you doubt your investments in crypto then I don't know what to tell you.
Lastly, as a 28 year old boomer who's only market he ever played in and knows is crypto, I think it's wise to take his word (and others like Buffet) seriously as the more experienced boomers they are. Sure they might be there to manipulate you like all the others, but just on off chance that they are genuine in their concern, should ring alarm bells as it comes from people way more experienced than you.

>>10008024
shorting is more of a shorter term kind of thing b/c of interest and you never really know when the coin is gonna crack.

>>10008489
precisely
there may be some alts that have some sort of small store of value, and are already reasonably priced, that will remain alive, to be used for their niche. but BTC will crash and will take most of the market and the liquidity with it. its only purpose is to go up. and it wont

Over 1000 btc passed through my hands since I learned about it, which saved me at least $40K.

>>10008024
Most serious investors wont move their positions to enter a market that they dont understand - they are too risk averse.

>>10008131
Yes, there is, people still are holding that shit instead of buying other shit with it.

>>10008216
Exactly. It is pure speculation at this point, I only wish that we had a study showing how much BTC is used in exchange for goods/service to illustrate that.

>>10008320
Stop gambling, son.

>>10008413
Bitcoin might go up if some country bankrupts and run it for a few months. That is unlikely, however.

>>10008489
And that is why it should return to less than $2K.

>>10008445
>The price of oil is whatever the US political elite wants it to be
no the price of oil is whatever the KSA want it to be
>You think the Iraq war was about ... what exactly?
eliminating oil market competition for the KSA and OPEC
>Hows that search for WMDs going?
i get the feeling you were born sometime after 911 anon. how old are you?
>Oh ok if it's not "real" why dont you go off and counterfeit a few BTC?
>Ill wait.
you will.
you will wait for a long time, because no one wants to buy BTC because it wont go up anymore. no one wants to mine for BTC because it wont go up. more and more money flows out of it daily because it wont go up. you can keep telling yourself that its worth something, and that it will go up, but eventually youll realize that it isnt, and it wont. and youll leave too.

this is what the "greater fool" is
the bounceback on real commodities, or the floor exists because people will want it eventually for some price. but no one will want BTC if it doesnt go up. and with the Mcap as huge as it is, it will never be able to go up, as it will be completely controlled by whoever has the most, as they wont even be able to get rid of it.

>>10008617
>Bitcoin might go up if some country bankrupts and run it for a few months
i think theyd be smart enough to go for a smaller cap coin

>>10008578

>it could be ANYTHING from 0 to whatever

Yea, it used to below $1. I doubt it can drop that low ever again but under $1k is definitely possible. It's just supply and demand. You knew this before you bought right? You never go all in on something like this.

>He is right about governments going to put a stop to crypto when they feel threatened enough. It doesn't fucking matter that it's decentralized, if you can't trade it nowhere you are screwed.

There's literally no signs of that atm though. Almost the opposite actually. At least when it comes to BTC and ETH. There's plenty of reasons for governments to ban things like bittorrent too but somehow it has never happened. You underestimate how hard it is to truly kill a decentralized technology.

>I think it's wise to take his word (and others like Buffet)

Buffett told you not to buy bitcoin in 2014 too. How did that work out? Again, clearly just another angry boomer trying to cope with the fact that he missed the biggest gains of this decade. I mean I didn't buy in 2014 either but at least I can admit that I should have lol.

>>10008413
bitcoin has uses. It's used to launder money and is actually used to transfer and remit funds by legit exchange providers like those in my country. Yes, it's not touted out as it is to be by the crypto cultits and pajeet/chink scammers who have loads of btc because of ASIC mining but you're on the other extreme end too who think btc has no uses.

BTC is like forex, nothing more. It's just another currency which can be used to transfer numbers all around the globe. Nothing more, nothing less.

>>10008671
Eventually, yes, but BTC could work before they figured something better (maybe even trying to create their own crypto).
What I wanted to say is that BTC might jump back to $20K or beyond for a while, but there is no reason to keep it longterm - the leading cryptocurrency will be the one actually used as currency. The future is a world where I use crypto to buy land, securities, commodities and hookers, while leaving some of it liquid, not one where I just HODL IT FOREVER AND BUY THE MOON LOLOLOL!

>>10007938
Press b for batmanjeet, earn 0.01$ a video, big moni sirs

>>10008688
Look, bottom line is, I've been in crypto for over a year now, and after making lots of gains and actually starting to look at the space more critically, I don't see a bright future. Theoretically it is promising, but seeing all the warning signs and red flags I'm starting to think I should get the fuck out. I just don't wanna lose my gains, I will literally kill myself if this happens.
I wish you good luck my fren and that we all make it.

>>10008714
theres better coins to do such things where all the eyes arent on it. face it, BTC has no uses that any other crypto doesnt offer. and its moonabilty (the only value most crypto holds) is worn out. its broken

>>10008660
I am 30 years old. I saw the ridiculous Afghan and Iraq wars as they happened and heard all the lies live on air. How old are you anon? 22?
If you think the Sauds boss the Americans and not the other way around you should go back to school.
That you would say Bitcoin is "not real" as if that is a legitimate or even comprehensible statement pretty much disqualifies you from the conversation.

S

>>10008771

There's definitely some red flags like tether(dunno about you but I'm still not convinced it won't just blow up tomorrow lol) but doesn't mean the whole space and every crypto is 100% shit. I'm not saying I want you to lose your gains fren. It just sounds like you might have put too much money in this if you're panicking now.

we're about to find out if jet fuel can melt steel beams.... errr... if miners will continue to mine bitcoin below 5k

>>10008780
Not the point genius. Bitcoin obviously has uses, in contrast to your claims that it doesn't. Obviously there are faster crypto out there like XRP but they're not being adopted yet on a mass scale like with bitcoin. Treat crypto like you would with any other currency and not a commodity that you think pays dividends and you will be fine. Crypto is here to stay whether you like it or not. The pandora's box has been opened and it will be hard to put back in. Whether it falls to $2 or rises to $500,000 it doesn't really matter. Bitcoin has its place in money transfers, remittances and forex.

>>10008810
then why did almost all north american oil companies get destroyed by the last crash anon?
its a give and take. saudis pulled the last crash on their own, and they did it even against OPECs wishes. many of the OPEC countries were seriously hurt by this.

thus, since no one is supplying, and demand has increased (as well as production costs) oil is now going up. this will not happen with BTC. whether you care to admit it or not. banks dont need your currency. they have the gold backed petro-yuan for that. they cannot allow for a safe haven like crypto when they rugpull USD

>>10008858
My cock is already throbbing in anticipation.

>>10008856
It's not panic, it's fear. I didn't lose like most of the zoomers who bought in December, I just fear that I won't be able to cash out my gains. I'm literally still 80% in crypto. If I lose that I'm no better than all other losers who hodl'd from 20k till now.

>>10008869
Banks dont need crypto at all, why would they? That's not important. Crypto is a tool for countries to screw each other over with, and for individuals to screw their own organisations! It's a prisoners dilemma on a global scale.

>>10008951
lol
china will just back their own coins
why the fuck would they hold a dead asset? BTC is toast and its gonna take a large amount of the money and liquidity with it. good luck lad, youre gonna need it

>>10008904
Please, sell your stack and drive safely for a while.
We want you to be happy, fren.

>>10008904

>I'm literally still 80% in crypto.

Damn, man. I think I understand you now.

What's with all the brainlets in this thread claiming that btc has no utility and is pure speculation that could crash to zero any moment? You can buy illegal goods with btc, it and monero do have a floor on that fact alone.

>>10008998
It makes no political sense for China to NOT ban Bitcoin. So why haven't they done it yet?
Because they are afraid to.
BTW one of the advantages of crypto is that if a better coin comes along then BTC can be replaced. If it needs to die then it will die and we will be stronger after.

>>10009094

This. It can't go to zero. I'm going all in way before that and I'm not the only one lol.

Go ahead. Call me a "salty no coiner," go right ahead. We're laughing at you, all of us "salty" no coiners, we come to this shitheap of a board and laugh anytime your precious cryptos crash and your """portfolio""" is devalued. We revel in it, you shouldn't have been so cocky.

>>10009094
XMR has a floor
buying illegal shit is not what you do with BTC anymore though. this one is going down

>>10009141
>It can't go to zero
BTC can absolutely go to zero. not all of them will, but this continued fall will cause more and more outflow of cash from BTC

>>10009203

>>10009141

No it literally absolutely can not EVER go to 0 mate. We're way passed that lol. Here's all the proof you need:

https://coinmarketcap.com/currencies/bitconnect/

If that shit STILL isn't at 0 at this point then bitcoin will never be either bro. It just won't.

>>10009252
anon is there id difference between 0 and some infinitesimally small amount like .0000000000001? id argue in this circumstance that there isnt

>>10009290

So $0.388277 = 0 to you? So if you could take 1 million of Bitconnect or 1 million of nothing you would choose nothing?

>>10009358
anon the point is that you will hve all lost 99.99% of your original investment and no one will ever put money in it. and even if someone does, they will be up against an entire army of bagholders waiting to dump. BTC is dead

>>10009290

I'm not only saying bitcoin will NEVER go to $0 I will say that it will NEVER even go to $1.

>>10009393
keep telling yourself that lad
someone always had to hold the bags

>>10009422

Sure man, mark my words on your calendar around 2030 or something. We'll see who was right then I guess.

>>10009466
judging by our digits, both of us

so hold on for the next 12 years, cuz first... its goin down

Ok listen up you fucking idiots.

Firstly, this guy thinks their is no intrinsic value, but there is. The intrinsic value is that fact that crypto puts the power of money directly into your hands, and you can trade with anyone in the world, on fucking thousands of websites. That is an extremely powerful intrinic value. The value is power. This is an entirely new asset class and its just barely getting started.

He doesn't understand this. He believes in the tech but not in Bitcoin. I don't blame him. I think Bitcoin only holds value because it is used as a trading pair. You need to be stocking up on cryptos with actual business plans and professional teams.

>>10009614
>he believes in the tech but not bitcoin
why would he believe in both when bitcoin is a grandpa boomer coin with no utility? it only has market forces in its favour but not anymore

>>10009614

He's in the "blockchain not cryptocurrency" camp. That's what people say when they think they know what they're talking about but don't. He literally doesn't even understand the basics of how the tech works.

>>10009637
Bitcoin holds value because its used as the major trading pair for most exchanges. Bitcoin has first mover advantage but other than that it has little use case. Start looking at the cryptos with actual business and well funded teams that fill a niche. The platforms cryptos like Ether will destroy the stock market as we know it. Its simply to fucking efficient. I can move my assets in from one site to another, fucking seamlessly. That is the value of this stuff.

>>10009713
>because its used as a trading pair
not even. bitcoin holds in my estimation over 95% of the real capital in all crypto markets because the market is basically bitcoin maximalists.
its just historical market circumstances.

>>10008660
>no the price of oil is whatever the KSA want it to be
and who do you think controls KSA?

>>10009835
israel

>>10009853
yes, but in an indirect way, they are controlled by their proxy, the US

>>10009960
like i said its all give and take. US polis do not control oil prices directly however