/biz/ - Business & Finance

>>16447471
Ahoy matey!

Terrible. Serves no purpose at all because it's limited so fucking much. Honestly Dogecoin has more utility.

>>16447501
>it's limited so fucking much
What do you mean? Limited supply? Limited utility?

>>16447542
Limited utility.

>>16447471
well it is an asset therefore it will crash
its only meme is store of value and value will be extracted in a crysis

>>16447594
>crysis
Good game.

>>16447579
Don't you think being a global completely decentralised immutable and borderless ledger is a useful utility?

>>16447471
It will crash, just as precious metals did.

>>16447605
there better coins that have privacy
and they are better that BTC in every other sense too
BTC is NOT the only crypto you mongrel

>>16447605
It would be if the network wasn't completely limited. The killer app of Bitcoin aside from security is the frictionless transactions or micro transactions. Shit isn't doable on BTC, nor is the ability to build applications on it because Core has removed so many OP codes.

>>16447623
>It would be if the network wasn't completely limited
How is the network limited?

>Shit isn't doable on BTC, nor is the ability to build applications on it because Core has removed so many OP codes
Well yeah, not on the base layer. Why do so many people think the base layer needs to be scalable for bitcoin to be scalable? Layer 1 is for the protection of wealth. Pretty much everything else, everyday transactions and the like can be done with layer 2 solutions

>>16447608
In the GFC precious metals also entered a pretty fucking magnificent bull market very shortly after the initial crash, though. Around the start of 2009

>>16447657
>How is the network limited?
I don't have time for this, I'm going to bed.

>layer 2 solutions
lmao okay, boomer

Store of value is a meme, its volatile but it will pump to high havens. Nobody cares about blockchain unless it creates riches. Bitcoin will do that. Its the best bait.

Oh and its the mark of the beast, but it will make you rich so you can enjoy all the worlds distractions until you die. BTC to 100k and then 1m

>>16447671
Mostly just gold though, and that was mostly boomers being shilled by AM radio scams. The gold bubble crashed quickly once the recession ended.

>>16447471
crash to new cycle lows, then pick up after wall street implodes

literally will go under 1k in a recession environment. Thankfully the economy is better than the past 20 years

>>16447824
>The gold bubble crashed quickly once the recession ended
True, although there's definitely an argument to be made that pretty much the only reason the gold bubble popped was because the Fed started pumping air straight back into the stock market bubble. Because the stock market had such a rapid recovery (albeit an artificial one) there was no reason for people to continue preserving their wealth in gold.

>>16447824
>>16447883
Silver had a pretty fucking magnificent rally too. Although it did dump even harder than gold. But again, most likely due to QE and artificial stock market recovery than anything else imo

>>16447855
>economy is better than the past 20 years
we will see about that

My guess would be that as people are struggling to find cash or trying to capitalise on volatile markets before a crash I think it will be first to go down.

cyprus

>>16447883
>>16447888
Gold on the market has been a small fraction compared to the total market value of stocks for decades now. You're right to an extent, of course, but that's all big institutional money and professional traders and etc buying in those QE bux. The NASDAQ and S&P have outperformed gold since their inception; gold has never been a serious long-term investment for a thriving economy, it's a shit-hits-the-fan investment.

Silver is mostly a meme for investments since every time it pumps Nevada (and the rest of the world) can just put the mines into turbodrive again. Better off buying aluminum stocks or futures since at least those pump and dump every time the USA starts a war.