/biz/ - Business & Finance

>>23625074
I read an article this morning about Iran subsidizing their crypto miners in exchange for them providing ~1/3 of what they mine to their central bank. I’m not sure entirely how to interpret it but it looks like economic battle lines are being drawn. Should be interesting

I once fell in a chinese website scam and lost 1k. Never trust ching chong people ever again. Soulless bastards

>>23625074
I thought China was 80% since 2015?

>>23625266

It actually is like that, but my worries are in the fact that they can take advantage of that amount of power to manipulate crypto to their convenience.

>>23625145

NEVER trust chinese people in economics. Their profit culture consist mainly on destroying others funds to make theirs huger. I'm not the only one saying that, ask Venezuela or other third world countries about their unfair debts with China.

>>23625371
Can and do. Driving prices up during an election involving their largest geopolitical rival could be interpreted as a form of psychological warfare

funds are:

>>23625453
>VajaNy
kek

>>23625130

This is why we can't support PoW. I'm only buying PoS coins at the moment like AVAX.

>>23625424
>Their profit culture consist mainly on destroying others funds to make theirs huger.
How is this any different than the US

>>23625857
Chinks are shitty to deal with. Shittier than Americans if such a thing is possible

>>23625857

Credit system isn't about destroying other funds, it is actually a way to encouraging people to invest. Chinese people look for imposing high and ridiculous fees and sink entire countries in debt without any good intention to contribute to any other economy but theirs. They'll do ANYTHING for money, while US is ethical at least in 65% of the cases.

>>23625912

Undoubtly, never negotiate with chinks if you appreciate your wealth.

>>23626071
It’s not just negotiation, they’re super shiesty in day to day interactions. Do not trust a Chinese person under any circumstances. This is a lesson I have learned from bitter experience

>>23625489

send bob and VajaNy pic

>>23625435

Don't think so. People aren't really paying attention to BTC, even though the price is rising, voters ain't batting an eye for it

>>23626287
Some people are paying attention. You and I are, so that’s at least two

>>23626318

Yes, but we are redpilled enough to know that this price thing does not mean that China is still the biggest evil in global economy and voting for Biden will only make it worst. I like to think that all cryptoinvestors have enough IQ to know that

>>23626362
Fair, although I personally do think China and Chinese people are evil as fuck, but that’s only because I’m on the west coast and have had to deal with many, many Chinese

I should add though that it’s not entirely a racist thing: most of the Taiwanese people I’ve dealt with have been a pleasure

>>23626558

Yup, it's not like a generally-asian-related thing. Particularly, chinese people in business are filthy as fuck. But in other aspects besides that, I have nothing against them.

>>23626625
Yeah well, I assume that’s because you haven’t dealt with them enough. I hope for your sake that you never have to

>>23625074
China and Iran are moving to BTC for trade. China perceiving it has control through the miners may help move BTC mainstream. In reality China has no power over BTC.

>>23626680
There is an obvious logical inconsistency in your argument

I welcome china becoming a super power because it'll put jews on the backfoot.

>>23625857 >>23625424
US are shit too but at least they aren't communists on trumps power for now. Everything that's not lefty retarded is preferable. Just a less harmful cancer.

>>23626836
No.

>>23626888
chinks are more capitalist than the US dude. the only difference is they have a functioning state that works for their nation, unlike the US that has a shitshow for a state that only works for Israel

>>23626932
china can just stop mining bitcoin and the txs wont go through

>>23626062
>US is ethical at least in 65% of the cases.
top. fucking. kek

>>23626945
Nonsense. They’re a Confucian/legalist aristocracy like they have been for the better part of the last four thousand years

>>23626958
If they all shut down at once there would be a slight clog until others grab the opportunity. They can't enforce a ban like that anyway. People like money.

>>23626979

come on, try to prove me wrong

>protip: you can't

>>23626558
Taiwanese are civilized; mainland Chinese are freaky, unempathetic ants.

>>23627129
https://en.wikipedia.org/wiki/Unethical_human_experimentation_in_the_United_States

>>23626062
Encouraging others to invest by making inflation... DESTROY THEIR FUNDS (their purchasing power).
But yes, the slopes are unironically much worse.

>>23627194
>https://en.wikipedia.org/wiki/Unethical_human_experimentation_in_the_United_States

>We're talking about business and finance, not biological matters
>Last unethical experiment was made in the 60's and we're talking about the current times

>>23629146
>Last unethical experiment was made in the 60's and we're talking about the current times

>>23627160
Crazy thing is; The Taiwanese government was the original government of China before Mao Zedong shitted it up with the communism.

i don't see why anyone would remain in bitcoin. it leads to huge losses or chinese feudalism. even with all this shit about paypal it's still trading sideways. i'm tempted to sell off the rest of it right now. it's marketcap is nowhere near commensurate to what it offers. there are fewer xmr than bitcoin and that will remain the case for about 300 years. if scarcity and security had anything to do with it, xmr would be on top of the pow-coins. even ltc has more to offer and has been around forever. selling it is genuinely hard though. crypto is equally about knowing when to get out as when to get in.

>>23627194
>>23629194
Kill yourself chicom

>>23629307
Crypto is risky if you get emotional.
Control the greed.
But better in than out. Not owning btc right now feels more risky than not.

>>23625074
> Muh China has the hashpower
This meme has been forced since 2016.
pic related is op

>>23629377

i disagree. all this news looks bullish but you have to remember that btc has a carrying capacity.

>>23625130
they're lining their miners up to power plants
imagine if all countries start making moves like this

>>23629461

so they're co-locating their power generation and their means of obtaining currency for foreign trade? sounds pretty convenient for bomber pilots.

>>23629401

It's not a meme, it's totally true. We need to stop supporting PoW and invest in PoS projects. Avalanche is my first take on that.

pm-backed national digital currencies would probably be ideal and also encourage the conservation of those metals. if its deflationary, then so be it.

>>23629194

I thought hashrate was the conversion rate between BTC and weed

>>23630199
Dude, checked

>>23625371
They can manipulate PoW coins that's about it

This is why PoS > PoW
The future is in PoS coins like Tezos Avax and Dash. Never change my mind, never selling.

Good. Nobody wants to evacuate their money from China more than Chinese people.

>>23630199

redpilled

>>23630256

That's what I'm saying, if people does not stop supporting PoW, cryptomarket will doom. Start buying PoS coins to avoid this

>>23630276
And we should not be letting them. The consequences will never be the same

>>23626885
Based and lateral thinking pilled

>>23630595
>have a rat problem
>I know, I’ll release a bunch of venomous snakes, what could possibly go wrong?
You’re a dumbass

People against PoW are believing in the holocoof.
Let that sink into your thick cattle skull to your retarded brain.

>>23626945
Blatant chink shill

>>23625074
>China will insanely fuck up BTC
Why?

>>23630779

it's wasteful. if you want to tie money to something with limited supply then PMs would be a much better choice. at least once they're mined, they're mined and do not continue making a larger and larger carbon footprint.

>>23630861
Look at this retard.
Look how it believes carbon is a poison.
That's the face of PoS.

>>23625823
you realize thats not a solution...right?

>>23625074
then anon will go full degen w jusdefi

buy waltonchain

>>23626958
>forgetting to take brain out of park

>>23625857
China lacks Christian values.

>>23625857
Educate yourself. China getting power is the worst possible outcome of our lives and we need to stop them from getting it. They will destroy the planet and destroy western culture.

>>23634177
>They will destroy the planet and destroy western culture
All the more reason why I'd support them.

>>23625074
>will

>>23625130
can confirm
am Lebanese and people are attempting to get as much BTC as they can because our fiat is shit
I have friends on discord who are in Iran and are legit telling me that the government monitors fuck everything
so yeah they're gonna force the people to sell and mine for their central bank to get as much money as they can, because of the US sanctions on Lebanon/Syria/Iran
Note that the three countries are in hyperinflation at the moment and civil unrest is coming to Leb soon if not civil war. Because subsidy for basic resources is ending next month and I'm sure but hope not Syria and Iran will follow
AMA