/biz/ - Business & Finance

>>13319020
https://medium.com/@FidelityDigitalAssets/an-update-on-our-work-f5a50a753a1f

>>13319048
Why are BAKKT and FIDELITY setting up infrastructure for digital assets storage and custody? So that every boomer you see who can hardly operate a phone or a laptop can invest into Bitcoin and other crypto by simply contacting a broker.

>>13319020
We’re unironically scheduled to be millionaires and billionaires. Strap in boys, it’s happening tonight!

>>13319070
Thank you for reminding me. You’re so kind. Now we just have to remind 10 other people, and those 10 people will each reminder 10 others, and... we’ll all make it!

>>13319073
No it isn't. BTC is an IQ test, one that rewards the patient. Will take time to eat the current supply in the market before we can begin upwards recovery. Pic related is one of the probably only useful images Caps anon provided

>>13319100
Yes, and we are the genius early buyers. The others don’t know our little secret. Caps anon is a generous prophet. The world needs more visionaries like you.

>>13319070
Every one of those inventions was useful. Crypto has no utility.

>>/biz/thread/S553311

>>13319151
Crypto is a store of value if you bought it below $5k (as of 4/13/2019) xd

>>13319166
Strap in, it’s happening! We’re at the bottom of the bubble, and only hi IQ visionaries like us know that this bubble won’t stop until we’re all millionaires and billionaires!

>>13319073
>>13319186
>We’re unironically scheduled to be millionaires and billionaires
>this bubble won’t stop until we’re all millionaires and billionaires!
Alright this shit's going to 0

>>13319151
To you apparently

>>13319168
>>13319186
>>13319213
Bitcoin is an IQ test.

>>13319246
You must have a very hi IQ or else you wouldn’t be here

>>13319168
"Store of value" that literally will drop 90% or more at any point. Fake money will always go to zero because nobody can actually use it.

>>13319258
Nice shit posting, what shitcoin have you been burnt on? Or are you a stocks fag? Or just a jobless neet? Maybe you made it off crypto earlier on and are riding the waves? The irony is, all your sarcasm is actually correct

>>13319277
>at any point
Sure

>>13319020
have ever considered the possibility the line might return to zero

>>13319151
bitcoin: trustless transfer of value.
doesn't mean it needs to go to $1,000,000 though. as long as it's got liquidity doesn't matter if the price is $1000 or $10000.

>>13319277
Y-you take that back! My precious will never go to zero because it crashed so many times already. It can only go up now! Crypto’s use case is to make early buyers like me rich and make late adopters like boomers poor. Boomers like Buffett and Dimon are retarded and will buy my bitcorn when the USD inevitably crashes!

2011 - “So, That’s the End of Bitcoin Then” – @Forbes | $15.15

"They’re not liquid, nor a store of value & the price collapse shows they’ll not be a great medium of exchange either as who would want to accept them? Bitcoin has nothing going for it"

>>13319313
and you have privacy coins and stable coins
that can do it too

2013 - "Game Over, Bitcoin" - @businessinsider | $110.68

"The bubble has burst & now all that's left is to watch its steady & inexorable decline. So what now? It will crash & disappear like http://Pets.com & Lehman Brothers, existing only in the memories of Economists"

2015 - "Bitcoin Will Not Survive" - Jamie Dimon, @jpmorgan CEO | $395.67

"People are wasting their time with digital currencies like Bitcoin. I'll be surprised if it's even here in five years"

>>13319300
No. We’ve considered that before and it didn’t happen, so why consider it now.

2018 - "Is Bitcoin Going To Zero?" - @Forbes | $3,432

"It won’t go quietly, but the recent drop may be the beginning of its inevitable & inexorable death spiral. Future generations will read about bitcoin in a finance textbook as a curiosity & wonder what all the fuss was about"

>>13319345
you had greater fools
now you don't
BTC will be around as long as there are humans I am dead certain of that, but value wise it might go another 95% down

>>13319317
>>13319323
>>13319335
>>13319349
Hi IQ research here. Well done. You deserve to be rewarded.

>>13319300
BTC is supported by producers who are willing to put forth computational and electrical power in order to sell their coins to those that are willing to pay for them. Bitcoin is the perfect ecosystem, every 4 years, the base value (production cost) rises an order of magnitude. Saying it will go to zero is a certified brainlet response (no offense). Cost to produce a single BTC is $3k-$15k depending on your hardware and electricity costs.

>>13319349
>>13319335
>>13319323
>>13319317
So what are you going to say when it does inevitably go to zero? Are you going to apologize for all the lives you ruined pushing a scam?

>>13319397
sure
but that is more valid for a random shitcoin
the BTC miners are real business that have to sell
it is a different game

>>13319389
Did I hit a nerve? You seem to be seething

>>13319404
It won't, that is the truth you and Mr. Butt Hurt (>>13319389) fail to recognize. (>>13319397)

>>13319397
looks like it's going to be a while before I make some profit :(

>>13319404
THIS! WE NEED TO HODL OP ACCOUNTABLE!

>>13319397
>>13319420
All that energy wasted makes bitcoin even worse. We are trying to stop this planet from overheating and dooming us all, but instead you people are supporting the very thing that will make everything worse.

>>13319443
no sorry you are a brainlet
the energy is not lost and it wont kill us all
the problem is you have near infinite sales pressure from the business that are mining BTC because of the absolute state of BTC

when BTC was grass roots minable, it could get most miners to just hodl with no problem

>>13319397
Can you please make a high quality customized $100k bitcorn for me? I’m willing to pay $90k for it.

>>13319246

If you had a high IQ with all the answers, you wouldn't be on 4chan.

>>13319397
I think dat shitz game theory... whales n' miners r' on tha same side in tha long run they won't let dat shit drop below tha cost o' production fo' too long n' fuck tha whole thang.
one estimate i read was 2k pa bitcoin fo' chinese minin' farms. If dat shit does git ta 2k, n' as fun as dat shit would be ta wreck da bottom buyers at 2k, any drop from dat would be a quick wick down n' da price would settle back at 2k. If caps be correct n' there be one mo' cycle, y'all N' therez Ain't nuthin' but "smart money" would have given the fuck up n' they gotta accumulate at dat point ta keep tha miners alive. So therez da case fo' a 2k bottom.

>>13319486
He’s a generous visionary trying to lift us NEETs out of poverty

>>13319443
"From that dataset we calculated that the bitcoin mining network currently draws approximately 4.7 GW, or 41tWh on an annualised basis.
At the time of writing, this figure is falling—and has been since late September. The estimate also includes a 20% excess for cooling, a figure we consider highly conservative.

For reference, there are approximately 85m PlayStation 4, 40m Xbox One and 15m Nintendo Wii U consoles distributed among global households (see our report for full list of sources). Their weighted average gameplay power draw is approximately 120W.

Assuming these gaming systems are played on a modern 40’’ LED TV drawing only 40W, for 4 hours a day, and idling for 20 hours a day, at a weighted average of 10W, they alone draw more power (4.9GW) than the entire bitcoin mining network."

https://medium.com/coinshares/beware-of-lazy-research-c828c900b7d5

>>13319486
And why is that? I'm young, graduated top of my class in chemical engineering from a prestigious school, and working in a technical field. Too much info out there to suggest it is worth the risk of me putting in everything I have into it this year. And If im wrong, then I lost a year of my life. There are many more processes out there that are destructive for the environment. Soon enough bitcoin will become much more efficient. It started at 500 W / Gh/s, and now miners these days are ~0.2 W / Gh/s. The kWh / BTC will continue to support bitcoin' price, while speculative bubbles allow for the price to rise much higher than the baseline value

>>13319555
OK bitcoin was the only coin
it is no longer the only one how does this changes things, as for mining there are now other chains with the same algo too, if one of those chains becomes more profitable it will lead to exodus and even more pump of the new chain and ever more transfer of miners

>>13319578
>it is no longer the only one how does this changes things
Bitcoin is king. The past few weeks should of been evident enough, alts bleeding like stuck pigs while the king was making moves. People flip alts for more BTC. Think of BTC like the index of crypto.
>as for mining there are now other chains with the same algo too, if one of those chains becomes more profitable it will lead to exodus and even more pump of the new chain and ever more transfer of miners
Hash rate figures speak for themselves. Bitcoin has the most brand recognition, security, and tests of time. Not only that, but it has no central owner to fuck with the chain. The flaw with most alts is the owners / devs are greedy, satoshi was able to make such a successful system become has dipped the scene early on.

>>13319614
>Bitcoin is king.
Empty assertion, typical, and false.
Your only argument is price action, however BTC is losing market share.
Other variant of that assertion are:
BTC is the only blockchain
alts are traded to get more BTC
we measure things in sats not fiat

BTC is NOT the only game and it will never ever be, the chart is misleading, the hash rate argument also will not hold because miners can switch to another chain.

>>13319614
also you can only compare hash if the algo is the same brainlet dumbass

>>13319639
When the day comes that a coin emerges that is significantly better than bitcoin in every way, I’ll jump ship. Otherwise, bitcoin is king. Dominance means shit if you can’t measure market cap correctly. All those IDEX shitcoins that can be made in 5 minutes are listed on CMC, and are apart of that dominance figure.

>>13319645
Nice try, none of those coins come even close even if you normalized the hash rates to one central Algo

>>13319694
bla bla somebullshit
and the hash is gone (you cannot normalize hash you mongoloid)
the way you kill BTC is with BCH, because of the miners hi hi

but the issue is, the past fundamentals are not different

your argumentation is valid, in the past when it was only BTC, that is why subconsciously you are clinging to it

general always fight the last war, we live in a new world

>>13319323
They called us economists!

>>13319151
>Crypto has no utility
Why are you retarded?

>>13319555
Uh oh. Better ban video games they're destroying the environment!

>>13319020

The price can only go up when there is always one faggot who is willingly paying a higher price than urself.
Since many normalfags got burned last years , not a single pig besides of big investment trustees will invest until the GOV have to regulate the market and Governments getting in cryptos...

>>13319555
But game consoles and TVs have a real world use case. Bitcoin is literally fake money that cant be used to buy anything, anywhere, at anytime for anything meaningful in our practical daily life. Even 1 watt is enough to waste on something that is a NEETs dream, especially when it comes at a very dire moment for this planet and we need to cut fossil fuel emissions immediately.

>>13319913
Technologies change and adapt. There are much more significant greenhouse gas processes that exist today (oil). It’s a matter of time before even bitcoin becomes more efficient.

>>13319925
what's your position? all in btc?

>>13320213
Goal is to have 70-80% of my btc in cold storage, and 20-30% in a variety of alts. Hoping that 20-30% turns into more than what I own in cold storage at the height of the bull. I might take a little of that 20-30% and day trade in the next exuberant cycle. Still accumulating my wages into bitcoin.

>>13320307
Flipping alts for more btc is what I meant to say

>>13319397
>100k in 2022
Do you expect Bitcoin hitting 1M in 2028 or something?

t. brainlet

>>13319020
If this chart is correct, we are getting $100,000 btc during a bullrun late 2021 or early 2022.

I want to believe this but nothing good ever happens to me. If somehow I do make it, a serious catastrophic event will happen and destroy the Earth most likely.

>>13319397
this chart actually makes no sense
like zero sense that btc will crash to 20k from 100k, bounce stupid highs for multiple years.
If we get that high there will be less volatility, but you brainlets don't get that we actually will never likely to reach that high, at least not in the next decade.

>>13319020
According to this chart the bull market won't start til about November. Seems like bull usually starts about eight months before halvening.

>>13319151
The automobile has no utility, the roads and too rough for their "wheels", and they are noisy and breakdown, and where pray tell are you going to get 'gasoline' when out on a long journey. It's just a toy for rich gentlemen. My horse can fulfill all of my travel needs just fine thank you very much, AND he can take me home even after I get blackout drunk at the public house, eh what.