/biz/ - Business & Finance

>>23552887
https://old.reddit.com/r/Buttcoin/

NOOOOOOOOOOOOOOOOOO BASED GREEN ENERGY WAS GOING TO SAVE THE PLANET AND DEFEAT THE DRUMP NOOOOOOOOOOOOOOOOOO BITCOIN WHY YOU DO THIS

>>23552968
kek. If Biden wins it will still be good for crypto.
The Fed said they will fund any amount of Fiscal stimulus by printing USD and buying Treasuries.
This will accelerate the devaluation of USD vs. assets like Bitcoin.
Dems will probably do bigger stimulus and gibs than Republicans.
Democrat DOJ would probably be less aggressive in attacking privacy coins and encryption.

>>23552887
get in here!

>>23552887
The catalog is scrolling fast as shit right now.
I give up.

They are abandoning the subreddit now. They've capitulated. We won lads we fucking WON

>>23553209
It is a ghosttown relative to 2018. Some of them are still in denial:
>The only way companies adding Bitcoin to their treasuries is going to be good for the regular people who buy and sell Bitcoin is if the companies lose money on it. If corporate treasuries realize big gains it means that those gains can't be realized from non-corporate treasuries.
Imagine trying to argue that public companies and billionaires buying thousands of BTC isn't bullish as fuck.

>>23552887
how are there STILL nocoiners?
How many large institutions need to buy crypto before these retards realize there's value here?

>>23553401
Imagine spending thousands of hours bashing Bitcoin on Reddit only to get BTFO after the halving.

They had 10 years.

>>23553508
lmao, muh non productive assets!
Yeah, better dump your BTC and buy negative yielding bonds instead.

>>23553085
God i hope Biden wins so I can watch the dxy

Poor folks, they just don't know any better.

>>23553701
Kek
>doesnt know the dollar was gold backed

>>23553701
Sounds like a total progressive liberal, the sort of person I know who says
>Who cares what the Constitution says, what matters is what we want today

I wonder how they'd react if someone told them gold and silver functioned as currency for world-conquering empires for millennia.

>>23553701
are they for real

>>23553701
>t-the fed devaluing my money is a good thing
>see I watched a youtube video about MMT and they said it was good
>see this Nobel prize winning economist said so, don't mind the fact that he also advocated for policies that objectively destroyed the American economy
holy cope, I fucking hate midwits

>>23553890
They are absolutely cucked by mainstream economists.
The career path of a mainstream economist often involves working for banks, governments, and universities (the biggest recipients of gibs).
Of course they're not going to advocate money that transfers some power from these institutions to the individual.
Economists will be the latest adopters.

>>23554085
Austrian economists were the first adopters.

>>23554085
true
the entire field is a meme imo, as with the rest of the social sciences. They are all more contingent on retrofitting your observations to fit your funders needs than they are on actually creating effective models.
The duty of economics research should be handed over to finance guys, complex systems guys and mathematicians, economists have proven that they're worthless, the economics Nobel prize should be ended and those who received it should have their honors revoked.

>>23554118
Imagine shilling Keynesian economics, MMT, and Bogleheads investment advice since 2011.
Impoverishing (relatively) your side of the ideological debate.
The absolute state of https://old.reddit.com/r/Buttcoin/

>>23554340
Imagine telling everyone on Reddit (and likely your friends/family/coworkers too) that it was bad to bet on BTC, gold, and TSLA

>>23554358
They don't get it dude, they have no concept of it. They have 0 idea how markets works besides a couple contrived youtube videos and maybe an elective they took as a freshman.
Even if they had learned it, they wouldn't have a way to challenge it, this is the nature of the midwit. Smart enough to repeat and apply, not smart enough to challenge assumptions. This is the terminal condition of reddit.

>>23554223
>>23554223
One of the most enlightening talks i had was with a econ major on her way to working in some hedge fund in nyc. She basically said that econ is a soft science and no one really knows what the hell is going on. How its all basically just models that should operate a certain way, but they all fail at some point because something was overlooked or a certain variable was given too much credence.

>>23554541
> How its all basically just models that should operate a certain way, but they all fail at some point because something was overlooked or a certain variable was given too much credence.
This is what happens when you try to boil down a complex system with millions of moving parts into a 3 term deterministic mathematical expression. It's hardly surprising that it fails.

>>23554541
this but unironically; charlie munger probably has the best takes, though I'd argue everyone has discounted "trustlessness" and "fast settlement" as reasons for BTCs success. BTC is not good money as implemented

search "The ergodicity problem in economics"