/biz/ - Business & Finance

when i made 900 thousand fucking dollars within a month last december and completely changed my thinking about money and how the rich get richer off the poor which are getting poorer

>>11257970
lul. zoomout of these 1 min candles OP you huge fucking faggot.

>>11257970
Op confirmed blue pilled cuck

>>11257970
>When did you realize that crypto isn't the future, but is simply a get-rich-quick pyramid scheme for millennials that are completely clueless about finance?

Its a way to run a business and profit without the need for ad revenue or standard banks.

>>11257999

it took you making 900 thousand dollars to realize that? wow.

>>11258074
>wow
shocking, a 19 year old college freshman that isn't redpilled about the monetary system

>>11257999
Everyone on this board claims they're a millionaire because of crypto. They're lying just like you are, but even if they weren't the fact that you still measure your wealth in US dollar terms speaks volumes. Even the biggest crypto proponents expose through their bragging of how much US dollars they made that they are just selling snake oil they bought for cheaper from someone advertising their own gains having bought even cheaper.

Nobody uses this crypto garbage for anything.

>>11258876
>Everyone on this board claims they're a millionaire because of crypto.
i made €79 trading ltc does that qualify?

>>11257970
The moment I chose to buy in. I have no dilution about this really is: a money transfer scheme for cartels and druggies, pawned off to boomers like me as an investment. I know what i actually invested in, the darker side of society. It's like the only way you can short sell modern society in general, so that's kind of neet

Money is courage OP
You must be a fearful little pussy
It’s ok Tyrone will give your GF what she really wants

>>11257970
>>11258876

This FUD is fantastic. Feed me more.

Trying sending your shit usd to your friend in Croatia with BTC's low fees, no exchange rate, and practically instantly with no government interference. You objectively cannot do that with usd and the current banking system.

Lick my ball sack. If you still don't have 21 BTC you will not make it in the digital future. When AI lives on the block chain and your family is homeless, you'll wish you too advice if faggots on /biz/. Faggot.

>>11259023
GS knows guys like you will always cover their shorts, that is the beauty they see in all of this

>>11259023

>can't do that with US banking system
>paypal exists

assuming btc does have a use case then...
>friend receives btc
>must sell it to use in fiat

or

>vendor accepts btc
>friend pays
>he has to wait an hour for the payment to go through
>he didn't account for the fee and it cancelled has to try again
etc bologna garbage


so its a deflationary medium of exchange thats not USD. that is pretty much the only value proposition. for most people the censorship resistance and other stuff is useless

You realize markets are driven by fundamentals and sociology/psychology and not technicals, right? The hype is gone. Nobody is throwing their money into these rigged crypto markets anymore. Yes some good coins will come about out these saturated markets but being successful in them in no different then winning the lottery or getting lucky on a stock pic. Stop wasting your money on crypto!

>>11259110

The whole thing is propped up kids, don't be stupid

>>11259110
this is capitulation.

THIS THREAD WTF

>>11257970
I wholeheartedly agree with you OP.
These fags will never know cus all they made was
negative 2000$

>>11257970
It's the boomers that don't understand it and think it's a fad

>>11257970
*crack*
*sip*
Yep. You’re right, OP. Time to put on some Rachel Maddow.

>>11257970
OP, much money did you lose?

I'm only up 6x ;) from 10 to 60k

>>11259273

Boomers have the money. You're minimum wage underachieving ass doesn't. So who do you think drives the market?

>>11259075
There are other cryptos that are clones/copies of BTC but actually move instantly. JIDF, we know that the fed reserve dying is something you don't want, but it is something the world needs.You can't murder people who openly oppose it like you did with the boat that was like the Titanic.

>>11259273
Boomers have money and wealth, because they invested in things like stocks and real estate. You know, things that have inherent value in the underlying asset. And they invested and grew it through compounded profit accumulation over the long term through sustainable growth.

Millennials are poor because they think stocks and real estate are lame and that they can get a 1000% per year profit by putting their money into shitty meme internet coins that nobody has any use for.

Millennials should be gassed.

>>11259480
I’m sorry you’re too stupid to understand new technology.

>>11259480

Millennials are too young to be rich from stocks and real estate because IT TAKES TIME to get rich from those. You don't have to be a genius to sit on real estate for 40 years and see it go up in value lol. The absolute state of nocoiners. This is why no one takes you seriously.

>>11259503

Exactly this.

>>11257970
>Everything is a ponzi because any commodity can only hold value by there being a future buyer when you want to sell

>>11259503
>10 year old digital currency
>nobody uses it for anything except to hype retarded millennials into giving up their real money in hope of selling to an even greater millennial fool

Its not new technology. Its a greater fool ponzi scheme.

>>11259586

>nobody uses it for anything except to hype retarded millennials into giving up their real money in hope of selling to an even greater millennial fool

Exactly the same as stocks.

>>11259665
>The absolute state of millennial retardation.

Except stocks have real underlying value, give dividends and voting rights in real companies that produce actually useful things you use every single day, you retard.

>>11259678
>no stocks are currently overvalued and in a nonstop speculation train leaving all fundamentals in the gutter
LMAO

>>11259678

>dividends

Lol, not all stacks even give dividends, not even close.

>voting rights in real companies

Lol, practically no one is rich enough to buy that much stock, especially not in /biz/.

You buy stocks hoping their price goes up so you can sell it to the next retard. That's it bro.

>>11259075
>wait an hour for the payment to go through
you don't have to wait 6 blocks anymore, you can assume 1 block is enough for small shit and 3 max for big shit
the hashrate is so high now waiting 6 blocks is a meme

>>11258876
>Nobody uses this crypto garbage for anything.

>>11259678
>Except stocks have real underlying value
based brainlet poster

Fuck crypto manchildren

>>11258876
>Nobody uses this crypto garbage for anything.

I actually do use it -- I'm getting internationally paid in BCH which would be a pain in the ass if done through regular banking. I sell most of it to fiat (at a premium) but some I also use for shopping with purse.io.

I know if I ever need to move to another country, I won't be paying out the ass in bank fees, rather it will be done with smooth jumps into crypto and back.

It's not an investment for me, it's just another kind of money but with special powers.

>>11259895
They absolutely deserve to lose everything as this shit goes back sub $1000.

The sad thing is they will then cry about how nobody warned them that they're part of a fucking cult pushing a shitty pyramid scheme to technically illiterate idiots hoping to get rich quick.

>>11259782
>You buy stocks hoping their price goes up so you can sell it to the next retard.

Are you a fucking retard? People are willing to buy shares in real fucking companies because they have inherent value, actual assets and they produce something of actual utility.

Crypto is worthless garbage for retards, no wonder its so popular among NEETs without any marketable skills.

>>11258876
A lot of people did get rich thanks to crypto. You think otherwise because youre a brainlet who bought the top

>>11258876
A lot of people did get rich thanks to crypto. You probably think eveyone is losing money because youre a brainlet who bought the top. I went all in early 2017 and I'm still in green

>>11260709
>comparing an old chart
>implying were not at the point of maximum financial opportunity

>>11257999
You need to be at least 18 to post here, kid.

>>11260686
Crypto can go to zero and they will still repeat the same stupid crypto cult mantras.

>>11257970

When I realised problems have nothing to do with material issues but everything to do with humans. Bitcoin is a great invention that can solve a lot of problems but it can’t solve human nature. Everything that ever gets invented will just be used to keep the unwashed masses alive longer to get fatter and be dumber. It’s all pointless, I strongly advise you to just do drugs.

>>11260709
>Wall St. Cheat Sheet
>Psychology of a Market CYCLE
hmmm. what did anon mean by this?

Did you seriously compare paypal to bitcoin and think they fill the same niche? You tried sending a million dollars from China to USA through paypal lately? In 10 minutes? LOL.
Hate to say it but you really don't understand the tech and it's implications. This is the dawn of triple entry bookkeeping. Look up how double entry bookkeeping made economies several orders of magnitude larger than before possible.
Yes, it's a bubble, but ALL revolutionary tech causes bubbles, dummy.

Furthermore, bitcoin will end up as the reserve currency of the world but I'm too lazy to type out why. Dyor if you can understand the technicals.

>>11261145
One who gets it

>>11257970
when they started changing accounts to 2 step authentication and then locked accounts until you gave photo id. when monero changed into some other new bullshit coin and i get stuck with monero lite or whatever bullshit they call it. genuinely have no hope for cryptocurrencies as most of them do fuck all for anyone.

>>11259855
kek