/biz/ - Business & Finance

>>18455081
scarce + fomo

>>18455081
If you have an urge to buy it, please do it so by Dollar cost averaging. Be careful the whole bear market thing hasn't played out yet.

when you buy bitcoin you buy a dream, its like lottery tickets but less dumb

>>18455081
Soros pumped and dumped it the man is a legend

>>18455092
no i don't wonna buy it, i don't think it will do a x1000 or even just a x10

>>18455099
That's a fair and healthy way to look at it. The only kind of people that have actual use for it are dissidents.

>>18455102
post proof

>>18455081
humans enjoy gambling

>>18455081
It had a pretty great story: unknown person creates something that was formerly deemed impossible, which is clicking with a libertarian narrative (private, non-state-controlled store of value) and which actually worked.

It also came at the exact right time, when a financial crisis hit and nations were forced to bail out financial institutions via tax money - or else.

And it quickly found a killer use case: dark net markets for drugs and meds.

Unfortunately it fell into the hands of people who were not so great, some assumptions proved wrong (tx-limit, blocksize, lack of inflation) and finally the robbers and thieves showed up and forked it into BCH, Core, BSV.

What the next outperforming asset is, nobody knows. We'll know in retrospect.

I guess nano will become the next big thing

>>18455194
lol
>>>/biz/thread/16596049

>>18455194
>>18455203

When it comes to investment then there are many rules and one of the famous rule is that don't put all eggs in one basket ie never invest all your savings into one project or cryptocurrency but the ratio & amount to invest depends on you whether you want long term or short term return or safe investment etc, during my research for good altcoin I have come across a project called trias, it is one of the best blockchain projects around with real-world use cases. It is being used by large multinationals and is generating revenue from its products as well.

>>18455081
Also listen to this: https://www.youtube.com/watch?v=080l49dWbHY

Skip to 15:40. It is explained why BTC pumped so hard in 2017 and also why the transaction pool became so clogged up plus a considerable rise in transaction costs. Traders massively used arbitrage opportunities that the market provided. Those opportunities where so lucrative that they were ready to pay relatively high transaction fees.

I also recommend to listen to the whole piece. Its an interesting take on Bitcoin's block size debate.

>>18455194
Go fuck yourself

>>18455107
>Bitcoin at $0.01
I don’t think it’ll do a 10x
>Bitcoin at 0.10
I don’t think it’ll do a 10x
>Bitcoin at $10
I don’t think it’ll do a 10x
>Bitcoin at $100
I don’t think it’ll do a 10x
>Bitcoin at $1000
I don’t think it’ll do a 10x
>Bitcoin at $xx,xxx
?????????

>>18455154
In reality, this narrative is the false one. Core isn't a fork and its supported by the majority of devs and users.

>>18455081
Because it actually has a use. Drugs.

>>18455081
>Can you explain why this shit mooned so hard in this decade?
It was the currency of the people, the first cryptocurrency; able to be mined on people's home computers and quickly and cheaply transferred around the world. It started catching on so (((they))) had to stop it. There was a hostile takeover of the bitcoin development community and it was engineered to be slow and expensive to transact. Bitcoin was then advertised on normie TV to get grandma to invest in it and traded on futures markets to allow big players to manipulate (pump and dump).

Now it's basically controlled opposition to make sure freemarket cryptocurrencies don't become too popular before central banks can issue their own digital currencies.

>>18455154
If your "udsing dark net during a recession" theory has some merit, then Monero is definitely a sleeping giant.

>>18455209
Lol this is going nowhere.

>>18455798
lol just take off that tinfoil hat and eat your schizo pills.

>>18455081
It has a great story.

>creator is a mystical hero nobody has met
>limited supply + halvening
>the meme about BTC going to $1 million a coin makes poor people believe that they can become rich one day and escape their wageslave life
>BTC is "against" the system and the evil spooky satanic banks
>it's new, hot and popular (humans are herd animals)
>it's easy to buy and international, anyone can do it

Bitcoin simply has a very good story.

The feeling is similar to what one might find in a movie in which the people are fighting some supernatural dark lord (the banks).

Couple that with the thought about turning a few thousand dollars into millions and you have the perfect asset to create the biggest bubble the world has ever seen.

One might think that it was intentionally designed to appeal to poor people.

>>18455081
> whales managed to convince buyers to never ever take profit
it's literally a ponzi scheme, the best one ever made but still one

>>18455081
Hype mostly.
First it was supposed to be programmable money - failed at that.
Then it was digital cash - failed at that.
Now it's supposed to be digital gold, the most stable of the cryptos, the prime blue chip, yet it dips 50% in a day.
The only succesful use case for bitcoin is as a utility token for bybit to do leverage trading on, thus getting noobs rekt.
In time people will realize this and the price will plummet, because there are new superior projects emerging right now.

>>18456273
Recommend me some superior projects which i can investigate more, noob here
And what do you anons use for buying, i have 3-4 apps installed and fee's are like up to 7%, banks in my country dont support crypto so hard wired transactions wont work.
There is 1 Stock Market supporting my currency and its Xcalibra which has only BTC ETH STX and some other normie crypto's.

>>18455081
there's no better coin

>>18456452
>>18457613
>there’s no better coin

RSR

>>18456452
do your own research man. start with this place as a template with which to launch your investigation but don't ask people here for advice, unless done very consciously.
having said that, I believe it's the proof of work that supports BTC's price levels above all. think about the way we're calculating value here, if BTC was printed out of thin air and distributed in exactly the same way, the valuation would surely be drastically different. it's the energy expended in minting and the lack of a way to game that process (via counterfeit or whatever) that is giving BTC value.
as far as other things to look into, think about your projected/ideal scenario 5, 10 years from now and what solutions need to be found to realize that vision. then find projects that you believe will be those solutions.
GL anon

>>18456221
math is money
proof of work creates value, deal with it
Hal Finney is a genius

>>18458175
80% of my money is in BTC. This is the biggest scam the world has ever seen and I'm gonna ride this up to the moon.

>>18458205
>blocks your path

>>18457742
Im too late to join the game, maybe big drop in price is awaiting and i can maybe sneak in
>>18457846
I understand, its just a little overhelming in the start so im just searching what do people talk about and what alt has a potential. Not mainly to get money, this market is like sci-fi and i would like to see more practical uses in the next years, im feeling positive about it even more after covid crysis
Interesting, thanks anon. GL

>>18458844
and beyond looking at tech be wary of how things are distributed, if you see something that seems promising but find out that a large portion of the tokens/coins are locked away in a "dev fund" or whatever, figure out what that means and who has the permission to control those assets. the point is decentralization is important in being able to trust your asset

It is the only asset on earth that cannot be seized by a government. That alone makes it extremely valuable. It is a global hedge against regional corruption and failure. Nothing before it filled that role.

>>18459168
Pretty pointless viewpoint considering .05% of all btc holders hold 61% of the supply

tether did the trick , nothing else.

>>18455081
>And what will be the next coin that will do something similar?
BTC

>>18459412
i also don't believe btc best encapsulates that point, but i think it's a true statement regardless

>>18459480
It’s a true statement but it’s the nature of the crypto space and the world at large. I agree there are plenty of scam coins, but there are plenty of legitimate coins where the majority of the supply is in the hands of a few people.

>>18459412
source? are there numbers over time available?

>>18459526
i also agree with you there, thats part of the point i was trying to make. just saying anon should be aware of who controls what and why before putting money somewhere. everyone's gonna have a different tolerance level for that depending on their outlook

>>18459583
https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html