/biz/ - Business & Finance

cope and seethe

>10 year bubble

this fag has atleast 20 btc

>>25422820
Why do people listen to jews?

world gold medal worth mental gymnastics

>>25422820
Only person BTFO is him

>>25422820
reminder that this turbokike literally underperformed stashing cash in your mattress for the past decade

dilate

Bitcoin value comes from the fact that there is a limited supply, unlike gold, is more easily accessible and transferrable, unlike gold... yadda yadda, somebody just post the comparison chart

>>25422820
>schiff
sniff sniff

>>25422820
>buyers don't know it's a bubble so they will never sell

>>25422820
Omg someone tell gbtc before they lose billions.

>>25422820
He probably has thousands of btc lmfao.

>>25422820
Imagine being a bull this obsessed with BTC. He must be furious that he has to keep telling his serfs to buy gold while BTC goes 100X and autistic NEETs become millionaires.

>>25422820
>(...) sell to buyers who actually use the gold as a metal
kek

>>25422820
>The only valid reason to buy bitcoin is thinking the bubble will get much bigger before it bursts.
Yes you seething boomer, and there's nothing wrong with that, if you're smart and bought during the three-year long bear market. Everything is a bubble. Not even your boomer stock companies will stay in business forever. You're just doing the same as we are, but in slow motion.
>Most Bitcoin buyers don't know it's a bubble so they will never sell.
Which is a decent strategy. Sure, I'd prefer to get out within 30% of the cycle top. But even if I failed to exit and we descended into a bear market, I would still make way more money than your boomer assets in long term. Just wait for tthe next halving.
>But since most who will be unable to thell when it's popped, they're also unlikely to get out with a profit.
Not my fault some people are trigger happy retards. Drink your money if you want, or gamble your money, or make some dumbass 4% yearly margin with your ETFs. But all I smell from you is jealousy.

>>25422820
Schiff is a hodler and a master fudder. He is the supreme standard of fud. He will never relent, and he will probably still be mocking bitcoin when he's in the citadel doing standup.

>if you never sell what difference does the price make
Doesn’t this apply to every investment that does pay out dividends?

>>25422820
I'll never sell my bitcoin because i'll take out asset based loans on it to invest into cash flowing businesses, real estate, or product creation. Why would anyone every sell it? It's like what saylor said about the riches people he knows are the wealthy families that have owned real estate across from central park for hundreds of years. They get asset based loans against their properties because it's tax free and they can use that capital to invest in yields higher than the loan rate

>>25422820
his basic argument is right tho. I remember the struggle in 2016/2017, I never knew when to get out. It's hard to say how hard something will pump if you can't tell anything about its actual value.

>>25422820
I just sold 100k worth of my bitcoin thanks for this insight very much appreciated

>Jewish conman screaming into the void on Twitter
I am so glad the tribe was late to the internet and while they were consolidating control of Web 2.0 by using the dumb white nigger ZOG courts they missed Web 3.0.
Come on Jews, don’t forget your 200 IQ’s.

>>25423111
All of his anti BTC arguments apply to everything else.
>only valid reason to buy bitcoin is thinking the bubble will get much bigger before it bursts
Only reason anyone invests in anything is because they think the price will go up before going down. He's a retard.

At what price will he kill himself ? 500m? 1m?

>>25422820
this dude is a faggot scammer

How have morons like him not figured out that it’s not “btc vs gold”, it’s “any sensible store of value vs the meme fiat currency.”

They “printed” 25% of all usd ever printed in 2020. Be in bitcoin, gold, silver, or fucking hoola hoops, just hold onto something until their great reset is done and you will be ok.

>>25423111
When will it burst again? I'm sitting on hot coals not knowing when to sell before I lose everything (again, see 2017/18).

>>25422820
review of peters fund:

I invested everything I and my wife had saved from 57 years as a Fire Marshall and teacher for the mentally disabled.
With our 843k we meet with peter bridled before being quickly passed to a "broker". Although salesman/ con artist may be more apt.
He pushed us to invest in a South-East gold mine- in just 3 weeks we lost a 347k. Although we had plenty of worthless shares..
Our original "broker" quickly fell out of the picture and after no communication for 3 months- short of occasional email with links to his pod cast- we went to the office in person.
After many frustrating conversations we were provided a new "broker". Although we were charged for this transfer of accounts.
For the next few years we continued to lose time and time again. In total we had 4 different brokers.
In 2015 my dear wife of 52 years passed. The only money I had left was still wrapped up in our accounts. After much effort I was able to speak with Peter. I told him about Mar's passing and that I needed to close the accounts so I could pay for the funeral.I was also hoping to bring our mentally disabled granddaughter to Disneyland. A sort of distraction from the grief we all felt.

After reviewing our accounts I have as told that ; of the initial 750k we were down just 4K , plus the many many hundreds of shares in company's that we're essentially worthless.
And although he was aware that I needed to draw down and close our accounts so I could give my wife the best funeral she deserved and take our mentally disabled granddaughter to Disneyland he said I would have to pay a 2% closing fee.
Ultimately I had to cremate my wife as I didn't have funeral costs.
And I could not afford to take our grieving disabled granddaughter to Disneyland.

Please do not invest with Peter.

I have since lost my home and live in a nursing home. I'm on a fixed income with my military and fireman pension.

I really let my dear wife, granddaughter Ella and my children down.

>>25422820
He may be right that BTC will burst, but how fucking retarded you need to be to believe people in the future will "need" your gold? What for, better cables for audiophiles? This is top tier idiocy

>>25423375
source: https://topratedfirms.com/brokers/customer/europacificcapital-review.aspx

>>25423345
What should I get, crypto or gold? Looking to get rid of most of my fiat before the big depression that is looming over us. Will BTC and ETH burst in the next few days/weeks or should I buy now.

He literally says this every time. He sounds like he’s mad he didn’t buy

>>25422820

>>25422880
This

>>25422881
Because most people aren't humans but golems.
In goes the programming, out goes the shabboth goyimness.

>>25423431
no. he's a pyscopathic scammer. he forces old boomers to invest their life savings in se asian "gold mines" (that he probably controls). then they wind up in nursing homes after he rapes their account from 800k to 4k.
read the reviews.

>>25423375
sounds totally real and not made up at all. peter is wrong about bitcoin btw

>>25423238
You have no idea how behind are you, faggot.

>>25422820
>Gold is valuable for its industrial purposes.
Holy shit what a moron, he doesn't even know what makes gold valuable over other metals that also have industrial purposes (hint: it's scarcity).
Does he think the Aztecs and ancient Romans valued gold because of it conducts electricity so well?

>>25423369
Well right now we are overextended, I'm thinking there will be a local top between 40-50K. After that, some pullback. But if history is any indication, the cycle top will come around winter.

>>25422887
Kek

>gold is a store of value as people buying gold now will be able to sell it in the future to buyers who actually need to use gold as a metal
>bitcoin's value comes from the belief that it can be resold at a higher price in the future to speculators willing to make the same bet

nowadays, gold is inherently worthless in the same way that bitcoin is. it's just a shiny metal that you can make rings and tooth fillings. in the same way that gold has a perceived value because it is rare, bitcoin has a perceived value because fuck you, that's why, you had years to buy it

>>25423043
>autistic NEETs become millionaires
Not happening in this reality, schizo

>>25423679
The NEETS will inherit the earth like God said

>>25423581
If there’s one thing I’ve learned about bitcoin, it’s that “the top” is always much higher than your expectations/best guess

>>25422820
Every time bitcoin pumps people post about this boomer, and bitcoin always continues to increase in value.

>>25422820
>If "functions as a store of value" becomes the de facto raison d'etre for Bitcoin, no one will ever panic sell
>People will continue to hold it as a hedge against fiat devaluation, exiting a portion of their holdings as necessary
You don't fucking get it, all of this shit is made up. It's like Santa, it lives on self-perpetuating belief. The universe is cold and indifferent, we have to make our own meaning.

>>25423766
Yes. Which is why I don't sell local tops.

>>25423739
Autistic white males in their 20s and 30s that leech off their poor parents while playing video games and masturbating to 2D cartoons becoming anything of value?
So out of touch with reality it makes me want to cry.

>>25423437
>MY BOOMER ROCKS

>>25423679
>Not happening in this reality, schizo
already is, schiff. sorry.

>most btc buyers don't know its a bubble so they'll never sell.

How will it burst if they never sell?

I really wish people would talk about other boomers for once, Peter gets too much of the attention.

>>25423145
this is the move

Well, he blew out the dumbasses who never sell, but thankfully I'm not one of those. I sold at 27k and am pretty happy with it.

>>25422915
Yes. Emerging markets are not in a bubble.

>>25422820
he can still cope after all that happened?
amazing he just won't bend the knee

>>25423473
Sad but true

>>25422820
>IT'S A B-BUBBLE!!!!
Yeah, a consistent, repeating bubble that happens in a 4 year cycle of 3 years of bear market + 1 year of bull market.

>>25422820
lol at "sell it to those who need to use it as a metal".

Sure, all these fancy investment gold coins and bars are really going to be melted down and used. Yes, they COULD, but they're not are they. Not unless there's a massive apocalypse scenario, and that's the only bit of gold left on the planet.

Those buying investment coins and bars are doing so just to sell it to someone else for a higher price later on. Same reasons for investing.

In an apocalypse scenario you've got bigger things to worry about than how many paper dollars you can sell your bar of gold for, either way.

>>25424398
someone post the it's a bubble comic!

>people buying gold will be able to sell it to buyers who need to use gold as metal
clueless boomer lmao
yeah, microsoft and apple will buy up 100 gold coins and 3 bullions from a /biz/ dweller, lmao

>>25422820
btc going to 0 confirmed

>>25424410
>>25424502
I've always hated the "gold has value because of electronics!" cope. It's fucking stupid; gold has been highly valuable for thousands of years throughout human history, long before anyone discovered that it makes a good conductor for electronics in the modern era.

The actual reason gold is valuable is because it's rare, durable, and has a very low inflation rate. Oh wait, the same properties as bitcoin.

why does he hate the bitcoins so much?

>>25424867
>gold
>rare
Pick one and then return to Reddit

>>25422820
asteroid mining kills the gold bug

>>25425162
Because he's a literal gold dealer. His whole shtick is doom porn and then marketing gold as the only way to save yourself. Bitcoin serving the same function detracts from his bottom line. He needs to FUD crypto in order to keep his followers on the plantation.

>>25422820
Imagine actually paying for this guy's services just to be forced on the sidelines of the greatest wealth transfer in history...
...and then imagine him desperately telling you to hold your position while btc literally adds an ounce's worth of gold to its value every 12 hours.

>most btc buyers never sell
>it's a bubble and gonna pop any second now
old people should be banned from the internet

LOL Schiff's son bought BTC in September.

another one to add to the chart

>>25425557
Boomers in denial are so cute. They have real trouble understanding new world.

>>25423299
>>25423375
His father Irwin Schiff died in federal prison after making a living for decades by scamming people over income tax evasion schemes. At the trial of one of Irwin Schiff's followers, Irwin Schiff testified that anyone who had believed him was an idiot who deserved whatever they got.

>>25425769
As one gets older, one's brain becomes less able to learn. If I hadn't been a CS major in college 35 years ago, I would have dismissed Bitcoin as some stupid zoomer thing instead of buying in and finally making it.

>>25425908
I'm in CS for years and I didn't buy it because I was too pussy 10 years ago. But at least I'm not denying the reality kek

>>25422820
God damn. When this guy flips you know

>>25424867
>The actual reason gold is valuable is because it's rare, durable, and has a very low inflation rate. Oh wait, the same properties as bitcoin.

also the same properties as 9000 other crpytos that suck ass.
you can't explain BTC, it might go to 100 or to 0 tomorrow, nobody knows. trying to justify it is just retardation.

>>25423413
I dunno man, I’m honestly not very smart or a great investor. I converted 0.2 btc into xrp in November, and look how that worked out. All I know is that the fiat game appears to be nearing its inevitable conclusion. Hence the “great reset”.

>>25423145
>I'll never sell my bitcoin because i'll take out asset based loans on it to invest into cash flowing businesses
Can you explain how you are planning to do this. I have been trying to learn now (since I have 5 years to figure out how I want to make my eventual ten million pay me every year) and you seem to be thinking the same thing I am.

>>25425250
retard
>All of the gold discovered thus far would fit in a cube that is 28 meters wide on every side.

>>25426107
>it might go to 100 or to 0 tomorrow
No, Anon. Don't you understand? BTC will go up forever and ever and everyone who buys BTC now ill be rich and everyone else will be poor. You are obviously a retard if you don't understand how easy it is!
Now go sell some real assets and buy some internet coins at the ATH!

>>25426557
>asset based loans on it
hahahahahahahahahhahahahahahhahaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

Holy fuck retards really think they will take out loans against BTC

>>25422993
He‘s talking about link there

>>25422820

>>25423345
People only subscribe to the zero-sum game that if you shill one thing, you're saying something else is worthless. While this is true for some, basic money management tells you to diversify your portfolio. If I say "I think gold is good", too many retards take this as 'OH YOU'RE SAYING BITCOIN IS BAD". You can invest in both, you can profit from both, you can lose from both.

>>25422880
Kek try 500-1000 dude is worth 70m$ and been talkin non stop about btc for years. If he bought at 10k$, propably even lower he only spend 5-10m$.

>>25422880
very likely, his gold site accepts BTC so they probably have a very large quantity

>>25422820
>people buying gold now will be able to sell gold in the future to buyers who need to use gold as a metal
dat boomer delusion

>>25427404
gold is going to crash, too many negative attributes and not enough positive ones, yeah it's shiny so what

>>25425557
The dude is playing 4D chess and he's fucking great at it ngl

>>25425772
its almost like its genetic to members of these types of people....

>>25423679
I already DID, newfag

Stop shilling for this snake oil salesman, he is like the Jake paul of the finance world, acting like a heel for publicity for his shitty fun that has done 30% in the last DECADE.

>>25427404
Isn't this just another version of the greater fool theory?

>I have no use for it but I'm buying it because I'm sure someone at some point will have

>>25422820
What he doesn't tell you, is that you will need to have a lot of capital to protect your gold. For instance, dragons can destroy entire armies. And don't get me started on leprechauns.

>>25424867
Bitcoin is not durable. Gold lasts forever and does not degrade or decay. World loses internet, and power and your bitcoin are useless. Bitcoin is nothing but a ponzi now. So tired of seeing this dinosaur tech. I thought it was stupid in 2017, why does it keep doing this? GOD

>>25423111
OMG SNAAAAP

>>25422820
that's some massive cope

>>25427553
Oy vey! You take that back or I'll call the JIDL on you!

>>25426107
Fucking magnets how do they work?

>>25427817
Bitcoin is infinitely more durable than gold. That's not hyperbole. I say infinitely for a reason.

Bitcoin has a limit of 21 million coins.
Gold inflates at 1.5% a year. I'll do some math for you:

Let's say you hold all the worlds gold today. At 1.5% inflation you’re at 77% and at 2% you’re at 86%. This is the power of inflation. If you would have bought at 30 years old with the intention to sell at 60, a 1.5% inflation rate means you’re money has been bled out by 36%!

Bitcoin isn’t just hard money, it’s infinitely hard money. It’s not that Bitcoin is better than gold, from this perspective it’s INFINITELY better than gold. Further, the more gold goes up in price, the more gold miners are incentivized to procure more gold. Warren Buffet recently buying gold mining stocks is both a way to invest in gold and paradoxically suppress the price of gold!

>why does it keep doing this?
You don't understand what Bitcoin is. Nor does it sound like you have a grip on what's happening in the world economy today.

>>25428237
What can you actually do with btc? Never understood how people can say something is a store of value if you dont do anything with it.

>>25427817
if the world loses internet the universal currency will be bullets, not gold

>>25428365
what can you do with gold? Make useless trinkets that people can easily steal or lose, extremely hard to secure and transport, will cost thousands to secure your million $ of gold and as the other Anons says it's being eroded by the supply grwoing

>>25428365
btc is like your dick, you will never use it but you still value it a lot.

>>25422858
>>25422880
>>25422881
>>25422887
>>25422899
>>25422900
>>25422915
>>25422925
>>25423020
>>25423039
>>25423043
>>25423074
>>25423111
>>25423126
>>25423145
>>25423238
>>25423247
>>25423253
>>25423299
>>25423345
>>25423375
>>25423392
>>25423431
>>25423437


>cryptoschizo containment thread

Nice

>>25422820
if they never sell doesn't that by definition make it not a bubble? Also pic related Peter Schiff's advice is financial poison

>>25428365
The world needs a store of value. All governments around the world have debased their fiat currencies since forever.

Gold was used as a store of value, it did the job pretty well.

Bitcoin is store of value defined (programmed). Programmable (can be built to do even more), sleepless (you can't move gold or fiat 24/7), borderless (you can't send gold or fiat in a thousand places in an instant), and trustless (nothing can control it, debase it or inflate it away).

Gold is a store of value encapsulated in metal.

It's riding the digital parabola because it's digital. Non linear. To cement this into your skull, Millenials hold 5% of the wealth today. What happens when they actually have money. What happens when the boomers don't control the money anymore? What happens when bonds hit zero and go negative (they already are), what happens when stocks and real estate hit ATH's during a recession?

All of this and Bitcoin just sort of fizzles out? What do you think is going to fucking happen?

>>25428602
Imagine thinking the only value gold has is in "trinkets" and that newly mined gold is anything but a miniscule fraction of the existing volume and is affecting the price

>>25422820
Anyone who unironically thinks bitcoin can ever be worth $0 has the iq of a sub saharan african nigger monkey.

>>25429206
It could be, but just as likely as gold being 0$.

>>25424035
What, all of it?

>>25426562
That's all the gold mined in a year, not all the gold in existence.

>>25429750
less likely. Gold has more uses other than a medium of exchange or money

>>25426787
>BTC will go up forever and ever
Laugh all you want but that's what happened with gold so far as well as stocks and real estate. You could make the same sarcastic remark about those yet they are at or near ATH, and will most likely be even higher in 10 or 20 years. Just like BTC there are of course bear markets that might even sometimes last 10 years. But in the grand scheme of things, gold, stocks and real estate have gone up forever and ever for hundreds and thousands of years.
How long have you been in this game? You show the same sarcastic derision as nocoiners on /g/ in 2013. It seems you haven't grown at all.

>you can sell gold to people that use it

What the fuck am I reading? The amount of gold "used", especially by any normal boomer rocks collector, is zero.

it took me unironically years to realise the bitcoin icon is added automatically if you tag bitcoin
i thought the boomer was manually adding the emoji every single time even as he was seething about it

BUY BESRA GOLD INSTEAD OF BITCOIN GUYS

>>25430747
> i thought the boomer was manually adding the emoji every single time even as he was seething about it
i mean this one's retarded, so he might've done sth like that

>>25426787
Is it btc thats keeps going up or is it the dollar that keeps going down?

>>25430841
both, but this cope is getting stale
btc multiplied
did you see dollar's value halved at least?
do you understand now?

The store of value shilling for BTC was started by me. I don't own any BTC

>>25422820
shiff is either a clueless small brain retard or he fuds to keep the price down. Fuck this guy

HAHAHAHAHHAHAHAHAHHAHAHAHAHHAHAHAHAHHAHAHAHAAHHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHHAHAHAHAHAHAHAHAHAHHAHAHAHAHAHAHAH

>>25422820
he's still accumulating that's why he's fudding

>>25431046
both

>>25427343
Is it possible to get that BTC address?

I wanna choke this faggot to death.

>>25423375
He should have murdered him.

Schiff has one of the shittiest investment firms on the planet. He profits on your fear and insecurities.

>>25422820
>worst performing fund manager
>trusting anything he says

>>25422820
he's not wrong now, he was before blockstream. NANO is inevitable.

>he's not wrong
>*predicts 08 financial crisis*
>*fund dumps with everything else*

>>25431613
>>25431787

>>25422820
>doesn't understand the importance of blockchain
>doesn't realize blockchain will replace banks and eliminate third parties
>doesn't get how secure and instantaneous payments can be useful

tisk tisk

>Peter Schiff should know better

>>25424867
>The actual reason gold is valuable is because it's rare, durable, and has a very low inflation rate. Oh wait, the same properties as bitcoin.
Why can’t you make another crypto with the same properties as bitcoin and it be a SoV? Why is Bitcoin the only one. Answer me this and I sell all my gold for BTC

>>25432546
Because bitcoin was first to market.

>>25432621
this. Look at all the bitcoin imposter forks who arent worth shit

he's absolutely correct and you all know he is. That is why you're so triggered you just have to make a thread about it or come in to cope and seethe. I know you can't admit it outright, but deep down you all know this. Everyone does. That's why bitcoin is a joke.

>>25431887
>instantaneous payments
lel

>>25422820
trustless, borderless, scarce 24/7 value transfer at a discount

>>25429196
What would you do with your gold that has any value besides selling it ? you turd

Bitcoin is a dead end tech and the rest with crypto despite people thinking it's the next big thing. The moment quantum computing breaks that 10 minute block time, it's game over. It's a speculative asset more than anything. Yes, will get you rich possibly in the next 5 to 10 years, but it will be obsolete as quickly as VHS, casette tapes, CDs, etc. Enjoy it while you can.

>>25432621
>>25432637
You can cap a supply on any cryptocurrency. Why does it seem people only say bitcoin is the scarcest when there’s other coins/tokens with less total supply?

>>25433141
who the fuck cares that you have a coin with less supply if nobody wants the pre-mined shit. Bitcoin is still hanging around because the satoshi never dumps and its widely accepted(in the crypto world)

>>25422820
Can someone tell this retard gold isn't a speculative asset like bitcoin and to stop comparing the two gold price only good for protecting oneself from fiat inflation bitcoin ia good for actually making real value

>>25433092
bitch my bladee redlight CD is worth $200 tf you talking about

>>25427343
>he swaps worthless gold for valuable BTC
I take it back, he is one genius motherfucker

>>25433092
Oh look, it’s a 103 if midwit with the quantum computing fund. You don’t think quantum computers would fuck everything up not just crypto? Or that moves to upgrade and implement new algorithms would be taken?

>>25424067
This actually seems like a cool swing opportunity.

>>25422820
Did he finally learn how markets work?

>>25432860
IT's not about what I would do. But others demand it for jewelry primarily. Also in electronics and dentistry.

>>25422820
bitcoin is not "safe". i agree with Peter on that. but his mining stocks he likes so much are not safe either and his foreign stocks are also not particularly safe.