/biz/ - Business & Finance

>>23450378
he's right though, there is no value behind BTC

>>23450378
I don't get people's logic.
>Hurr durr it's a scam
>Hurr durr it won't last
>muh ponzi scheme
Who the fuck cares? If you make money off of it, does it really matter?

More idiocy.

>>23450448
Sour grapes + cope

>>23450378
Never trust people who Randomly Capitalize letters

>>23450378
>normies
Kitco. Anon I....

>>23450378
Didn't Fidelity start calling to get part of your portfolio in bitcoin? That's advice from literal boomers, are they still sour graping?

>>23450540
That last one is correct though. It's literally a digital version of pokeman cards hype right now

>>23450630
Yep fuck useless shitcoins better buy [REDACTED]

Literally every single one of my friends thinks Bitcoin is a complete scam, and they're all young working at tech companies. They make fun of me for buying it. The closest one of them got was "bitcoin is useless but the blockchain tech behind it sounds interesting" and that's it. Anytime an exchange gets hacked they'll send me a link to the article and tell me Bitcoin is doomed. We are so early it's ridiculous.

>>23450782
Same here. All my friends are 20-27 year olds. None of them have any

>>23450782
Every single friend or family member I talk about crypto with won't even give me 10 seconds before they're changing the subject. I really do hope I make it so I can laugh at all of them and then give them nothing at all.

>>23450884
Based

>>23450782
Are you me? I'm not even gonna rub it in my co-workers' noses when btc inevitably reaches 100k. I'll casually retire

>crabs for 1.5 years
>finally sees upward price movement
>retards buy the top at $13k
have fun coping with your losses when it dumps back to $10-11k

>>23450401
you can send BTC to another address this is very valuable network worth 241 billion sir.

>>23451025
Then ill just buy more

>>23450378
99% of the population don't know what the federal reserve is and does

>>23450378
>Fat
>Ugly
>Vegan
Didn’t even need to read the comment to know he’s a retard.

>>23450378
China owns your ass.
Buy china coin now !

Based.

Recently there was a normie interview in aus/tasmania. Some heard but never bought others didn't even hear about btc.
One guy was like yeah it's the future and where we're heading but still didn't seem like he buy any.

Talk is cheap and some obviously know about it but to actually buy some takes a big leap and determination. Even in 2017 most boomers bought One Coin instead of Bitcoin.

>>23450782
im in several discords with active software develepors and 99% think the same way

>>23450378
>Bitcoin isn't backed by anything
>Muh shiny rocks
>Muh green paper

>>23451101
> O

>>23450630
If that's true why aren't you mining it right now?

>>23451126
I am a member on a niche forum filled with boomers. One guy gets it, the rest are absolutely convinced it's a scam. They default straight to trolling if you try help them learn.
Problem is when talking traditional finance they are just as clueless. They are literal parrots.
I guess it's msm, not sure 100%. But something has tapped into those boomer brains and they are all very convinced it's a big scam. And boomers always have this weird level of confidence in their bullshit.

Mass adoption will not come from normies opening a coinbase and buying bitcoin. It will come behind the scenes, presented to normies as a quicker, cheaper and more efficient service and they will never know they are even using it. Look up Velo and read deep. mass adoption is here already, just not in the way you expected.

>>23450782
BTC isn't a technological proposition. It's primarily a philosophical and economical proposition with tech being secondary. If you don't understand the bird's-eye look and philosophical reasons for why BTC might succeed, the tech knowledge by itself won't help you at all.

>>23451295
Boomers are arrogant self entitled narcissists who think they know more than anyone so no surprise

>>23450782
>We are so early it's ridiculous.
Lmfao

>>23451364
Kek one anon already said one of the standard replies
>bitcoin is useless but the blockchain tech behind it sounds interesting
Word for fucking word.
Where the fuck do they get these canned responses from? Are boomers full blown NPC's where dialogue can just be inserted via some MK Ultra brainwashing techniques?

>>23451353
>not technological
raspberry pi's ssending signed messages over 14.4 kbaud dialup is bleeding edge

>>23451421
every media corp is owned by a bank, and boomers never go out of their way t consue any non bank backed media. theyre basically in the matrix, and respond accordingly

also holy shit captchas have been schizo lately is anyone else having to do them like 3 times

>>23451540
Makes sense
>3-4 captchas here, 10+ on /pol/ Every. Fucking. Post.

>>23451126
>tasmania
They haven't even heard of the internet yet

Everyone should just like the FUD comments and add to the normie talking points so we can accumulate more kek

>>23451579
its telling me i got it wrong twice when i select all the god damn traffic lights or cross walks, then finally the third one will be the slow fading one and it'll finally go thru. gonna see how other boards are but i mostly post here.

>>23450378

he's entirely correct.

>>23451295
It's called neuroplasticity. Basically, at a certain point your brain can't learn things like it could when you're younger, especially if those pathways are already deep and engorged. Tbqh it's kind of a good thing; gives us youths a chance to make some money for a change.

>>23451648
Fuck the fading ones
You can do audio and just type the first word followed by 'nigga' or 'kike' to fuck with their AI and it accepts it first time. Just cannot be fucked pausing what I am listening to / watching half the time.
/pol/ I figured was because of US election

>>23451295
>One guy gets it, the rest are absolutely convinced it's a scam

who wouldn't be? it's worth is based on popular consensus, not on the real scarcity of essential resources.

i almost feel like an idiot for buying into crypto, even though it made me some okay money. crypto does not reward correct assessment of value as much as it rewards a fad mentality.

>>23450630
so you mean i can mine bitcoin, right now, at zero gross financial expense?

>>23451809
i bet pol is flooded with the_donald tier newfags

>>23450448
thats the point, you can make money off ponzis sure, but they will collapse eventually thats a given. As long as you know when to exit you're good

>>23450378
Basically they say BTC going to zero but none of them have the balls to actually short it
BTC has only went up, zoom out
They would be right 1% of the time while being wrong the other 99%
And they would say:
>ha I told you
They were never meant to make it

>>23450378
Someone say kek? https://cryptokek.com

>>23452028

nobody will have the balls to get out when its time either.

>>23451863
Reddit spacing brainlet

>>23450448
they dont believe it's a scam, they just claim so because how else will they cope with not buying btc for less than 1000. they also dont believe it will continue.

ask these same normie morons if they had a time machine and could buy bitcoins for 5 dollars if they would do it. then keep in mind they wouldn't actually do it because none of them thought it would be worth more than $1 as well

>>23450782
>>23450818
>>23450884
My friends are all stoners who play PC games all day and they all hold BTC.

>>23451068
What are you, fucking retarded?

>>23450782
The best is going to be blocking people's phone numbers that didn't listen to me, but will probably be calling me up next Fall asking me for money or asking me how to buy in. Kek

>>23450540
>muh tulips

This is all they got huh?

>>23450378
>he took the schiffpill
ngmi

>>23451586
Settled by anglos and euros. It's developed.

>>23450540
this level of cope feeds my soul

>friends and coworkers tell me it will be worth nothing in a year and it’s too risky
>tell them to short it then
>they say that’s too risky too
>mfw

>>23450378
>shiny rocks
>"""intrinsic value"""
when will boomers ever learn?

>>23452521
Just go into a long rant about managing risk and expected value in gambling.

I only have $2000 in cash at the moment for investments before I make more money in the coming year. Worth putting in bitcoin?

>>23450378
Enjoy this OC

Not sure why people are so determined to be retarded

>>23450782
every single person I know thinks its all just made up non existant money... my parents still dont beleive I cashed out about 900$ awhile back to pay for some things when money got tight. to them its make beleive and made up and has no value. majority of my friends go awesome hope you make money on it man but when its on them to invest oh well I dont beleive in scam stuff like that. <_<
some people on /biz/ truely dont understand how early we truely are in crypto.
I think and this is just my opinions crypto wont really start to get more noticed and mainstream for another 5-10yrs and by than most of us will have made our fortunes from it.

BTC is fundamentally flawed, and cant even break 13k with confidence, even with paypal help

There is no intrisic value behind a currency that allows seemless verifiable decentralized transactions? When we're currently stuck with currency being printed by a magic machine at the rate of 30%+mcap/year?

Yeah keep buying your gold and paper money

>>23452741
no, much better investments out there. Bitcoin is barely up YTD

>>23450378
>>23450540
Weird I only ever see BITCOIN IS THE FUTURE!!!!! Q- shit on yt comments of crypto videos

>>23452805
it will be irrelevant when bitcoin gets replaced by another superior crypto. If you think bitcoin will forever be the top crypto you´re delusional

>>23452873

i expect a big crash when this happens too. the moment bitcoin loses #1 marketcap it's over.

>>23452805

the ultimate fate of bitcoin is to be replaced by a POS-based coin. people have no reason to pay mining fees when a faster network exists for free and the cost of mining will become prohibitive. i don't know how far away this is but POW-coins will not survive because POS also provides seamless transactions at a lower cost and higher speed. XMR may survive because it also offers a reasonable degree of privacy and decentralization. lacking this, there's no reason to use POW

>>23451863
You should sell. It is worthless, trust your gut

>>23450401
In 200 years the world population will be 2 billion and the gold supply will have risen from 200,000 tonnes to 10,500,000 tonnes.
Instead of 25 grammes of gold per person there will be 1300 grammes.
Gold will become abundant for the first time in human history.

>>23453115

i'm going to see how the paypal bullrun turns out. most of my money is out of btc anyway. if it doubles its previous ATH i'll cash out a portion of what i have left.

>>23450782
>Anytime an exchange gets hacked they'll send me a link to the article and tell me Bitcoin is doomed.
I love people like this. They're the ones who will tell you you just got lucky when you pull up in your new bmw and hand in your resignation.

I just don't tell people at work about it, unless I sense they have an independent mind. And desu, I may continue to work if anything, just for the benefits and access to market material.

>>23453172
I made a fuckup.
It will have risen from 25 grammes of gold per person to 5.25 kilo.

>>23450540
>bitcoin takes zero resources

>>23450782
2 of my friends showed up unannounced with a few drunk girls at my place all laughing about my "bitcorns". They raided my fridge and left. Another tech guy looked at me in disgust and said blockchain is ponzi scam. I plan on showing off before leaving the state.

>>23453172

most silver mined is consumed and irrecoverable. a portion of the gold mined will also be used up in similarly irrecoverable ways.

>>23453172
Where you getting these figures

>>23453294

case in point, people are not going to be buying into btc at 13,000 on paypal.

>>23453294
based anon. When you make your millions , make sure you show your lambo off to them. Ought to teach them a lesson.

>>23453172
What sort of apocalypse are you expecting that's going to kill 5.5 billion people and several generations of their children?

>>23453061
I thought this way in 2014 and it turns out it has reverse predictive power. All the PoS attempts failed miserably while Doge survived. If I kept the Doge I mined in a week it would be worth $80k now. All the PoS experiments failed in the exact same way with a few bullish buyers staking while volume fizzles out until there's none left. Your utopian fantasies are irrelevant, PoW works.

>>23453350

it works because mining is still profitable and there are still relatively few users, so mining fees are reasonable.

Can't go to 0 because I will hold and will not sell for lest than 100$ each Bitcoin

>>23453208
These people are the worst. I still get the sarcastic "how are your bitcoins doing?" even though I've been in LINK since $0.30. I just laugh it off and say "doing well". Some people just are just meant to stay close minded I guess.

>>23450448
they cope like this because to admit they were wrong would be to admit they are retarded and are proud of their retardation

>>23451863
>i almost feel like an idiot for buying into crypto
your post indicates you should feel like an idiot for other reasons but sure lets go with that

>>23452521
kek

>>23452786
You should have seen my friends/ familys reactions when I told them I sold the airdropped UNI I got at $5

>>23450782
They are just coping.

>>23453349
Maybe declining birthrates in developed nations coupled with most nations becoming developed. Even Nigeria and India are expected to turn the corner and start shrinking by 2040.

>>23450630
>Bitcoin takes zero resources
>correct

People who get high off the smell of their own shit tend to think they know everything and adhere to the very early conclusions they make on things no matter how much time or evidence crops up to prove how wrong they are. For them it's not about finding the truth, it's about enjoy the smell of their own shit

>>23453315
From his butthole

>>23454053
I dont even bother telling my friends and family almost anything now. if its brought up I just go market crashed waiting for recovery and they assume that im down massively in money.
tho lately my dads been amping up the pressure for me to "get out of that useless crypto and get into real money in stocks" and trying to shill the same stock my mom and dad made 400$ on last quarter. 9500$ invested and 400$ made.
shiiiiit i made 5x that in uniswap selling and selling off a couple of shitcoins for profits in 1 day. but let them think I "need" to get into stocks and to stop "throwing money away into that scam crypto"

the biggest problem bitcoin has is the level of intelligence and abstract thinking required to truly understand it.

the average person doesnt even know what inflation is. how can you expect them to understand something like bitcoin?

Just sold, foreseeing short term drop where Ill buy to unload again like I just did. Practice makes perfect.

>>23451353
this anon gets it.

>>23451997
>as long as you know when to exit

And how did /biz/ do with that during peak FOMO in 2017, when it seemed like jUsT tHe BeGInNiNg?

>>23450378
>>23450448
>>23450401
The logic is that if you hold even 1 BTC you're unironically set for retirement as normalfags will buy this shit in 20 years when it's too big for them to keep ignoring and most of them start getting inheritances when the boomers start dying in their 90s (yes the boomers will live 15 years past normal life expectancy, your parents will dog you forever, deal with it) and spending that money on a handful of sats.

You're still "early" even if you get in at 20k. It might go back to 4000, but you're still 'early' because by 2040 it'll be just shy of a million or more dollaridoos.

>people's logic

There is no logic, they're just retarded. It's why they have 100k in debt for a degree and complain while spending all their non-debt paying money on expensive rent and food. They're dumb as rocks.

>tfw when knew about btc in 2011. Mined for 5 minutes but stopped. Could have dropped a shitty grocery store check and been set in 2017

it hurts

>>23452771
>Not sure why people are so determined to be retarded
Yeah I can't believe some people can't format a photo even if their lives dependent on it

>>23453350
>>23453415
Ethereum shitcoin pumps were enough to disrupt the entire network, and even then they both fall to the wayside in terms of speed and the minimal transaction fees of coins like algo, xrp and xlm. Betting on bitcoin right now is going to see you lose what could be hundreds of times greater profits from the alts that will enevitably supersede btc. You don't want to be betting on Yahoo

>>23450782
That’s because everyone works in tech nowadays. The real nerds who were on the internet long ago are working on crypto.

>>23450573
Many such cases!

>>23450782
Ok wojak

>>23450378
btc has some value. maybe a few million total as a shitty shitty payment network.

>>23452233
thats what i do too

>>23450378
>Even if it makes to a to a hundred million a Bitcoin. It can still easily go to zero because it absolutely holds no value.

>>23456828
It’s not really betting on Yahoo unless you think of Bitcoin as a genuine currency. It’s not the digital dollar. It has high fees and is generally pretty shitty. It’s the proof of work blockchain and the security of it that makes it so valuable. You can buy digital dollars for cheap, they’re called Ethereum, but Eth fucking sucks ass.

>>23450401
Anon, you need to understand - value is simply "do people want it?" People want bitcoin, therefore it has value. What purpose does a diamond have, yet they sell for incredible amounts of money. Tangible =/= value. If that were true, the Internet would have no value, nor would data. Bitcoin has value because people want it, and that's all there is to it. Don't worry your pretty little head about WHY people want it -- it literally doesn't matter. WHY do people want to buy "shares" of gold and silver? That's way more ridiculous than buying actual bitcoin. A digital contact that says you own gold which you've never seen nor even know exists vs. a digital currency which you can do whatever you please with, including destroy it. Bitcoin unironically has more real world use and tangibility than a share of a company, yet you're not saying "there's no value behind stocks".

>>23452847
Like what negro?
>t. Also have 2000 dollars

>>23457055
Cmon man.

>>23457078
It’s something like 95% of the USD does not exist in a printed form. The printed form is a piece of paper. They can just make more of it whenever. It is set to inflate stupidly next year.

I will take my Bitcoin and make better investments and rebuy later, but it’s up 12% and the coin I really want is up 3% in the next week. Halfing season is catching up to Bitcoin.

>>23457097
>Cmon man, will you shut up about that Bitcoin? You should just go just deposit some money at a bank like every else!

>>23450378
It's a double top. Now's the time for ALT run 2.

Wait for UNN.

>>23450401
if ur end goal is to convert btc to US dollar or any other fiat currency. Then you've proven this man right.

>>23457067
Ethereum's certainly not a digital dollar, it is more like an ecosystem for other coins to be built on. There are stable coins that have been built on eth but they != Ethereum, they are their own tokens.

The problem for bitcoin and PoW is that is has a humongous amount of friction compared to PoS. PoW works very much like real gold in that it's finite and only so much can be mined, but for bitcoin, it doesn't hold the real world utility that gold does. Gold is not just for storing value, it is amazingly useful practically - bitcoin only really holds value, nothing can be built on it.

Ethereum has the utility but no permanent supply cap afaik.

>>23457286
because BTC has no purpose , correct

BTC is like any other fiat, but the difference is that's not controled by any entity (state), also, supply is limited, so it behaves more like precious metals.

>>23450378
Pomp has a great rebuttal to this boomer cope.
In the past, hot wars gave the dollar value.
In the future, tech wars will give bitcoin value.
>something about nuclear weapons

>>23451191
Heh

>>23450401
OP hard rekt

>>23450378
they will when they see what's possible with it. like LP staking and face melting charts.
got my eye on the Bestswap one starting today

>>23457304
Bitcoin is a harder money then gold.

Every 50 years the world gold supply doubles if 2% more gold is mined each year. However if the gold price skyrockets like goldbugs assert then many new gold mines will be opened and the inflation rate for gold will increase.

However no matter how much time passes Bitcoin is absolutely hard capped at 21 million.

Also it holds many other advantages over gold such as being easily transportable.

I can walk around my city with a million USD worth of bitcoin on a wallet on my phone and even if my phone gets stolen or lost they won't be able to access my bitcoins.

Try walking around your city with even just 10k worth of silver bullion. Carrying that much means you need a back pack and people around you can hear it clanking around.

>>23458717

This, and as long as there are people in this world and the population keeps increasing, there will always be investors open with ideas just like you and me.

>>23457876
>something something EMP from nuclear weapons

>>23457876
>>23459642
Still harder than gold. The worst thing that happens is that China EMPs enough of the world to get 51% hashing power - which will be obvious and prompt no one to accept bitcoin for fear of a double spend. The ledger will remain unharmed, anyone who hodls their BTC will not be affected once the hashing power gets equalized again. Usually when a country is crippled from war like this their gold reserves just get stolen - not with Bitcoin.

>>23453294
>>23453339
Yeah good idea, show salty Chad your suicide stack that he now realizes he doesn’t have. That’s definitely a good idea to gloat about to low-IQ inbred niggers who definitely won’t turn violent or blackmail you and will just saunter off after admiring your impossible wealth and continue with their lives normally.

>>23450378
I’ve had friends who were using crypto in 2015 to buy drugs off Silk Road not invest in it at all.

>>23450378
What's this shit?

>>23452315
Kek and even muh tulip bubble didn't happen in the way normie boomers think it did. No point trying to reason with an NPC though, just get rich and then laugh at them

>>23457078
>value is simply "do people want it?"
That's demand you absolute retard. Beanie Babies had high demand during the craze, but a very low intrinsic value, so the price crashed hard when the craze ended. Now Bitcoin does have some intrinsic value, but that's beside the point.
>supply
>demand
>price
>cost
>value
If you can't correctly define and use these basic highschool-level terms, why in the fuck are you even posting on /biz/? What a shitshow.

>>23450540
>zero resources
all the thousands of tons of coal burned to power those useless machines says otherwise.

>>23460693
What kind of newfag comes to biz expecting its users to be this kind of autistic?

>>23450401
There is also no value behind the US Dollar

>>23450540
>Bitcoin takes zero resources

>>23461187
Sometimes I wonder if BTC will take off, not because it lacks any fundamental aspects that give things value, but because retards, even on biz, still can't put the pieces together.
>muh no inherent value
>muh no work to produce
Event if it didn't take work to produce, its the most secure, hardest commodity you can own. People who question why btc has value are peak fucking normie one step removed from thinking you the board of directors of btc will shut it down someday and that its a ponzi scheme.

>>23460942
>valuu is a typo
>demant is a typo
Confusing the concepts of demand and value is not a typo, it's a major error that betrays a basic lack of understanding of the subject matter.

>>23450378
>phat vegan has a 257IQ and is fudding BTC to buy cheap, because he knows it can't be stopped anyway so fud will affect normies opinion but not btc price

>>23461290
No it doesn't, anyone with a brain can understand what he meant. You were so lost you didn't even try and get past the flaws to see the point, which really wasn't that hard to see despite those flaws.