/biz/ - Business & Finance

Is the question ill-posed? Basically the spirit of the question and broader context is asking if someone can invest in a coin which they have no plans to PERSONALLY use for reasons OTHER than greater fool speculation. I’m sure the answer is obvious once you know it.

Is the question ill-posed? Basically the spirit of the question and broader context is asking if it’s possible for someone to invest in a coin which they have no plans to PERSONALLY use, and for that NOT to be greater fool speculation. I’m sure the answer is obvious once you know it.

Typos corrected

Bump

>>18004343
>doing billion dollar transactions across the globe

how many of them were actually done? the blockchain is public

>>18006244
It’s just the only use case I can think of for bitcoin outside of drugs and remittances. Buying coffee is obviously never happening at scale. C.f. >>17997111
>BTC serves a purpose. It’s old tech but it’s the most secure and decentralized protocol as evidenced by its 99.98% uptime since launch. Wanna send $1billion across the world in minutes and do it ultra securely with low fees and without raising any red flags or involving third party intermediaries? You use bitcoin. Other networks like Nano that tout superior tech lack the network effects that make these chains inherently secure.

>>18004343
>If the main use case for btc turns out to be whales doing billion dollar transactions across the globe
That will never happen because it would be incredibly inefficient, slow and costly to make these kinds of transactions.
The only use case of bitcoin is to sell it to someone else at a higher price than you bought it. This the fundamental flaw in BTC.

>>18006484
Nano has the tech but lacks the liquidity and a lack of means for getting liquidity, which is just as important if not more important than tech.

>>18006672
So basically... bitcoin best case scenario is drugs and remittances for illegal aliens. To predict that it becomes the reserve currency is pretty much a joke at this point right? BTC crabs between 5-30k for the rest of time?

Second question I want to ask you is, even if the premise (that whales would use it to send billions across the globe m) was wrong, assuming they DID, my logic would be correct right? LNW individuals with NO use for it themselves would still be able to hold these things for a good reason and not be counted as speculators/gamblers

The reason this question is important is because it applies to normies buying ETH with no sweet clue about smart contracts other than they will be legitimately important.

>>18007498
>bitcoin best case scenario is drugs and remittances for illegal aliens.
Genuinely not even this because Bitcoin is completely traceable so therefore not good for illegal transactions (Monero for example would be better). And for remittances, currently XRP is being used the most for USD to MXN. It's better for remittances because of the extremely low cost and faster settlement.

>Second question I want to ask you is, even if the premise (that whales would use it to send billions across the globe m) was wrong, assuming they DID, my logic would be correct right?
Yes. Bitcoin would be much more valuable than it is today if this ever happened. Even assuming that no one new entered the Bitcoin market, just using Bitcoin for (large) payments would increase its value significantly.
>LNW individuals with NO use for it themselves would still be able to hold these things for a good reason and not be counted as speculators/gamblers
Absolutely, for a similar reason who people who buy gold aren't gamblers.

>>18007762
Thanks man, for understanding and validating my questions. Suffice it to say, you’re not btc maximalist, neither are you hodler, at least not on the basis of btc’s fundamentals. Possible you could still be speculating that you could be able to sell it to greater fools though.
>The only use case of bitcoin is to sell it to someone else at a higher price than you bought it. This the fundamental flaw in BTC.
Are you into that? If not btc, what are you currently holding on the basis of real fundamental value?

>>18008451
I own zero bitcoin. The only cryptos I own are XRP and a smaller one called Lition. I am certain there are other valuable projects out there but these are the ones I'm most interested in.
XRP is easily the most hated cryptocurrency not only here but also on Reddit. It's in part due to the radical nature of the community and how many people in the community are so ready to believe in conspiracy theories. XRP is at the moment the only crypto that is actually already being used at a moderately high scale by financial institutions. If you want to learn more go to galgitron.net. He's an asshole but he knows what he's talking about.

Also there was a leak that Bank of America will be using ODL (so they will be using XRP), and this has even been indirectly confirmed by Ripple because they DM'd certain XRP youtubers to take their content that covered this down. I'm not a big fan of this guy but he covers the BoA leak pretty well https://www.youtube.com/watch?v=nZarB1gIQMw.. Note this was before the DM's requesting the content to be taken down.

Remember XRP is the most hated crypto in the crypto community. You will find a lot of bullshit and simply incorrect FUD. You will also see plenty of XRP moonboys who have no idea what they're talking about and just accidentally stumbled on a decent crypto.

>>18008864
Thanks, yeah I like XRP from what a I know. Bitcoin for adults. Thoughts on LINK?

>>18009874
I know a lot less about LINK so I can't really speak about it in depth. It certainly does have a valid use case but all I see are a bunch of proof of concepts and not actual utility. It seems like it will probably be one of the few cryptos that will survive in the next few years but I don't think it will be one of the powerhouses leading the way.

>>18010033
>I don't think it will be one of the powerhouses leading the way
So, the analogy I heard is that
>Betting on a smart contract platform (ETH, EOS,ADA, XTZ) is like betting on which car manufacturer is going to succeed. Betting on Chainlink is like betting on the fuel they all need to consume. It doesn’t matter which platform gains enterprise usage, it will need Chainlink.
It basically has no competitors. And smart contracts have way more upside potential esp. among enterprises than sending money to buy drugs.

>>18004343

I expect it to really takeoff when we got O'Neil cylinders all over the solar system. it's going to be really fucking ancap out there.

https://www.youtube.com/watch?v=gTDlSORhI-k&t=696s
https://www.youtube.com/watch?v=IDxkpH4DlZM&t=626s

>>18004343
no, because value is derived from utility to begin with; it's circular to think that something has value because it's valuable, and not from some underlying factor
BTC has zero utility, as was proven when the price reached $20k and the network collapsed with a congested mempool and transaction fees skyrocketing

>>18011326
>no, because value is derived from utility to begin with
I’m saying, even if you see no utility for yourself, SUPPOSING you see utility for btc for a certain segment of the “market,” e.g. HNW investors sending large sums across borders, then it wouldn’t be considered speculation or gambling to buy in right?

It would sort of be like buying a stock for a company whose product you would never use.

>BTC has zero utility, as was proven when the price reached $20k and the network collapsed with a congested mempool and transaction fees skyrocketing
These seems so obvious. Why so many hodlers in light of these freely available facts? (What’s the best alternative iyo given these problems btw, Nano? Lite? XRP?)