/biz/ - Business & Finance

wake me up when it breaks the yearly low

I unironically agree. I'll buy at 3k in a few months for a quick 2 or 3x but any hope of this being anything more than a meme died today.

>do we pump gold that's held by banks and Joomers or do we put out money into memecoins

HMMMM

>>17442318
Bitcoin's only purpose is to sap money from poorfags to make whales richer

Crypto is a game of chicken, seeing who can convince the next person to buy from them for more than they bought.

lol thinking the store of value meme was actually true. It's a ponzi lol.

>>17442318
WEAK HANDS AND NEWFAGS

$20,000 EOY

BUY?!

>day 2 of crash
cmon

>>17442331
>wake me up when it breaks the yearly low
!RemindMe 2 weeks

it's been rallying for 2 months it will pull back with 50% corrections as we bull the next two years. how new are u?
look at the devastation that occurred as we hit ath.

How the fuck is a 3x crashing? Bitcoin has been kicking ass this year.

gold looks overpriced still, so unless you need some ingots lying around to bribe the border guards to flee the country when SHTF, why bother

>>17442318
>things actually start costing a lot of money due to supply shortages
>"please retail merchant, will you take my internet meme money instead of government backed currency?"
>laughed out of store

>>17442318
It was obvious when the hash rate of bitcoin stopped increasing starting from mid Jan as 90% of mining industry are done in China

>>17442852
Meme altcoins like ass shit or fart nigger coin literally have infinitely more value than government backed currency. They just print it and ins backed by nothing. Some people think it's backed by military but try and turn in your worthless dollars for nukes, a platoon of soldiers, an anti aircraft gun, or even a post 1986 assault rifle and they won't give it to you. So if it in backed by something there is no argument supporting its backed by military. You can try taking it to Fort Knox and redeeming gold, copper, or plutonium but you won't get that either.

>>17442928
Wow you must be really fucking stupid.

The fiat currency is backed by the country's economy. When money is printed and supply is increased beyond the economic growth of a country you get hyperinflation as you see in countless other countries, and conversely why countries with good governance like the US and Europe don't have these problems.

When people say fiat is backed by the military they don't mean you can trade it in for guns you brainlet gold bug nigger. It means that the value of that dollar can not simply be replaced by the declaration of a random fag, or some country coming up with their own new US dollar. For the USD that means the strongest military force on earth will literally fight to death to defend the position of the US as a world reserve currency, and as the national currency within its borders. Any nation state that tries to subvert that will get Ghadaffi'd.

Is that clear enough?

>>17443003
And if your argument is somehow having a trillion dollar economy, a world reserve currency, and the backing of the strongest military is not "value" but somehow your faggot meme money invented by an unknown internet weaboo is, you should kill yourself right now.

>>17443003
fuck all dat i want an RPG

>>17442318
Bitcoin is literally the same as fiat. “Currency” not based on any kind of tangible asset, only having any value because there’s still an idiot out there willing to pay for one. It’s the same thing except with fiat if I want to give a person money, I just hand them some paper with numbers on it representing arbitrary value in my national currency it doesn’t even require technology to do this, just the use of my hands. What can you do with a bitcoin that you can’t do with actual money?

This is why you gotta check the supirior BTC/XAU chart instead of comparing Bitcoin to fiat.

>>17443003
So basically it's backed by nothing except for our history of never having a depression or recession before and it does not matter how much money is printed hyperinflation can't happen because the dollar wasn't backed by anything before we increase the printing? If the military backing the US means that the military does not back up the dollar then how can I take you seriously? Thin could just be another time where you mean the opposite of what you say again.

>>17443018
>falling for the marketcap meme
Ye, no. Sorry kid, that's not how the world works. Maybe you'll learn more once you get in high school.

The USD has literally zero intrinsic value, besides as fuel for fires when our electric grid gets shut down

>>17442318
>boomer rocks were right again

>>17443093
Yeah, sure, energy in "nothing". Too bad one of the smartest man to ever live said otherwise.

>>17442650
go back

>>17442318
But in case of economic collapse, if gold mining stops then gold will moon, and if bitcoin mining stops it will drop with no support.

Just wait till all countries start burning cash and the inevitable bank run happens...there will be very few secure fiat off ramps. You are so close, but by all means sell.

>>17442318
>he didn’t buy silver

>>17442318
>Buying an electronic meme coin

Hope everyone had fun and cashes out before the bluff gets called. Goldbugs have been right since 3000 BC.

how could some convoluted ass current see only a fraction of people have the time to give a shit about possibly be more valuable than something any idiot can literally pick up
who could've predicted this

>>17442318
>This is the first economic collapse
First, not a "collapse", it's nervous nelly investors selling off in a panic.
Two, they'll rebuy back all of it over the next couple of weeks. Or they'll just sit on what they have and wait for it to come back up, with no tax liability for moving it into and out of crypto.
Third, nobody has ever seen bitcoin as a safe harbor, with real money.

>Crypto is finished.

Some of us have been saying that for over a year now.

>>17443354
because the internet will def be around when society collapses? Finally cryptocucks are learning their place.

>>17442318
>imagine your store of value being a fucking buttcoin

>>17442318
>And it fucking crashes.
no internet bud, reality check x100000000

>>17442650
kys redfag

>>17442318
> And it fucking crashes.
You realize that BTC is still like 30% up YTD from 7k, right?

>>17442318
>he believed the pajeets who've been shilling buttcoin as a store of value on blockstream's money