/biz/ - Business & Finance

>>26098776
I dont give a shit, give me crypto and give me gains

who care

I am never selling my bitcoin, EVER.

>>26098776
No not me.
I bought btc because I fully expect banks to start freezing assets and denying transactions for certain things, like firearms.
You fucks who sold at 40 then have fuck all after the dollar collapses will be the story.

>>26098871
This is the correct approach. We play the long game.

>>26098776
Im tryna stack more btc.

Hodling btc next 4 years is way comfier than hodling usd

>>26098776
I want to buy a house EOY. Hopefully in full but if not, at least 50% down. That's all I care about, and houses are priced in fiat, so that's how I track it.
I'm currently 1% of the median house price in crypto tho lol

>>26098871
The situation you describe is one of pure chaos. In that scenario you can expect complete anarchy and your btc will be the last thing on the planet to save you

Because it's the most accurate representation of demand we have. 1 US Dollar = 42,105 Iranian Rial. You don't see any of us worrying about people selling USD for Rial. But at the same time, if 1 USD dropped proportional to other world currencies where it became only 4000 Rial, then your admit the USD got fucked hard on its demand, correct?

USD just gives us an easy baseline understanding of how close or far it is from actualizing the fees we have for it.

>>26098901
Oh? And would you say the same thing if the price of btc was $500 usd a coin in 4 years? If the answer is no, then you’re proving my point

>>26098871
This. I'm not an expert on crypto but even I expect a lot of services to start accepting crypto as the standard if the dollar collapses. Didn't Venezuela try to do the same thing with wider adoption of Bitcoin but at a much smaller scale? Imagine now the US.

>>26098932
>Banks won't process transactions for certain items = anarchy
Guess we live in anarchy then.

>>26098932

You sound like a sad faggot,

read this > https://www.coindesk.com/bitcoin-adoption-venezuela-research

>>26098932
this. go and check real shtf scenarios, the last thing you are going to want is shitcoins, or precious metals.

Sneed
Also /biz/ became a fast board again

>>26098998
Thanks to me , and let me just say that whoever read this post is defenitely going to make it.

>>26098932
>In that scenario you can expect complete anarchy and your btc will be the last thing on the planet to save you
The (inevitable) collapse of the U.S. will affect the rest of the world, sure, but just because the U.S. descends into complete anarchy/civil war/balkanization does not mean that the rest of the world will do the same.

Dollar inflated to worthlessness, yuan new world reserve currency, U.S. in the middle of a civil war, and all your assets inside the U.S. and/or in dollars? You're fucked. Same scenario, and you have even 10-20 BTC? You can go wherever the fuck you want and bring your wealth with you, because crypto has value no matter where you are in the world, no matter what currency was initially used to purchase it.

>what is staking

>>26098776
xmr will always be used to buy drugs, cp, and evade taxes.

best use case of a coin thus far, bullish

>>26098978
>after the dollar collapses

>>26099032
You’re dreaming if you think you’ll see that in this lifetime

>>26098871
watch me shatter your worldview with just two words: cash exists

>>26099088
i think you might be the delusional one

>>26098776
My goal is to make enough gains to pay off debts like my car and student loans (which will obviously need to be converted to fiat), with some left over to keep making gains. Debt lives rent free in my head, and I'm tired of it. I trust that cryptocurrency will become much more popular within the next couple decades, and my bags will grow, but fiat will still be around long after I'm dead - and I'm only 25. So I'll keep a maybe 20-30% of my folio in crypto, for now, even if it is just a scam. I'll either make it with my shitcoins, or lose an insignificant amount of money.

>>26098776
>We’re all just buying bags of crypto hoping to sell it for a higher price in fiat.
Only to reinvest in more crypto. I honestly do believe in the tech. And I honestly do hold long term. And I honestly do believe that cash will in my lifetime be a thing of the past.

>>26099121
Europe’s economy has been dying for years now. Same with Canada. If the USA goes under all of western civilization goes with it. Which again, in that scenario you’re a mong if you think bitcoin will be able to save you from anything

>>26099032
based and truth pilled. USA has like 20 years max

>>26099106
Not for long.

>>26098776
DR . NS

>>26099196
I suggest you read https://www.coindesk.com/bitcoin-adoption-venezuela-research

>>26098776
Still better than the unlimited supply ponzi fiat game.

Yes I'm using crypto for fiat gains so I can buy property, weapons, and peace of mind. Does this somehow mean I like fiat or the debt-based economy? How the fuck are we stealing when the crypto marketcap is 1 trillion and countries are printing fiat nonstop? There's new money constantly flowing into crypto. Is the grocery store stealing because they increased the price of toilet paper during covid? Wtf

>>26099196
excuse me but i ride with the standard. you filth.

>>26098776
I think we will be in a similar situation to Venezuela in 20 years and all my USD wont save me if they are worthless.

>>26099196
Good luck with your barter economy

>>26098932
Hyperinflation did not lead to total anarchy in 1930s germany. Some would say quite the opposite.

>>26098776
no, i'm slowly putting all of my cash into crypto because i fear inflation of the u.s. dollar. im hoping in the future i won't even need to use fiat anymore
> t. zoomer

>>26099088
You're dreaming if you think the U.S. will go on forever and even be remembered forever.

>>26098776
I'm selling for fiat only for 14 days it takes to buy a house with that. If banks would accept crypto I would never cash out to fiarlt ever again.
No one is actually cashing out crypto to sit on US meme money. They change it for real assets like houses, lambos and cocaine.

>>26098776
>Biggest ponzi scheme
>USD by design loses 4% value per year
Volatile things are alive. Things that decrease in value are dieing.

>>26099336
That’s because everyone was white

>>26099346
based zoomer

I like using it to buy things. It's faster and safer than using an e-check or money transfer not to mention way easier.

>>26098932
This. Gold and silver stacker fags have the exact same problem. If martial law and anarchy descend nobody is gonna want your shiny rocks, who the fuck is even gonna walk around with the necessary tools to even check that all your shiny coins are even legit? The only things worth stacking are canned food, medicine and guns, and even then the first two you can't even stack too early because they expire

>>26098871
Unironically America could be in a great depression for the next 4-5 years. Then go full commie.

>>26099306
Cope. If your USD is ever worthless make no mistake you will be killed in your home

>>26098871
>I fully expect banks to start freezing assets and denying transactions for certain things
Like crypto for example the might want to prevent capital flowing into things out of their control.

>>26099379
>people buy it for no other reason but to sell it at higher price
The literal definition of a ponzi. Like I said in the Op, if btc did nothing but go down relative to your “dying asset” you wouldn’t be buying it

>>26099392
>who the fuck is even gonna walk around with the necessary tools to even check that all your shiny coins are even legit


Crypto currency is not shiny coins or comparable to gold holy shit can't be this short-sighted.

>>26099088
It's not that I necessarily expect it to happen, but that if it does, it will make crypto one of the best possible investments. Having $40k worth of crypto in an economic collapse is the same as having $40k in gold, except the crypto can be stored entirely in your head.

>>26099196
>If the USA goes under all of western civilization goes with it. Which again, in that scenario you’re a mong if you think bitcoin will be able to save you from anything
Again, crypto has value no matter where you are in the world. Even if the entire Western world undergoes a complete collapse, your BTC will still be valuable in South America, China, Russia. Shit, it will be valuable in Africa if you're really that desperate. And again, with a little practice you can store all relevant information to access your wallet entirely in your head. It's magic gold that you can store in your brain. The only economic collapse scenario in which it's not valuable is if a massive solar flare melts all electronics on the planet.

>>26099499
>people buy it for no other reason but to sell it at higher price
This thread is full of people responding to you with their reasons for buying it that have nothing to do with eventually flipping it for fiat. Also, by your logic literally every investment is a ponzi. Is gold a ponzi?

>>26098776
Yep that’s why I’m sitting on $90k cash, bargain bin hunting crypto is fun, especially during Bitcoin panics. Thanks for the gains wagies

Sounds like you're ready to start becoming an educated investor along with buying gold. Head over to pmg.

I don't understand people with end time scenarios in mind believing anything digital being of any help

>>26099692
that cash probably worth $80k now

>>26099723
Did global communications go down when the Soviet Union collapsed?

>>26099723
Nations collapse, empires collapse, life goes on.
When the US balkanizes wtf is a federal reserve note gonna be worth?

>>26099769
The soviet union collapse is not on the level of some of the stuff being described in this thread.

OP...If you don’t think the major chokepoints for the control of ones wealth (banks, payment processors, etc) won’t become completely politicized in the next decade then I have news.

Are people ignoring the fact that there has been enormous effort to globalize economies and to make nations dependent on each other?

>>26099739
You are not reading the situation correctly

>>26098776
>Let's be honest
>We're all just buying houses hoping to sell it for a higher price in fiat. All you niggers go on about *muh worthless renting* but if the real estate market did nothing but go down relative to the dollar, nobody would be buying it. We're literally stealing money from the working class in what will probably go down as world's biggest Ponzi scheme.
memes aside, i'll probably sell my house before i sell my crypto

>>26099674
>This thread is full of people responding to you with their reasons for buying it that have nothing to do with eventually flipping it for fiat
So far the only answers I’ve gotten are a)collapse of society b)using it to get some other asset, which only happens when it goes up relative to the dollar
>literally every investment is a ponzi
It basically is, the least ponzi investment are probably stocks, because companies actually create production and betting on a stock price is basically betting on its future production. Gold is basically a huge ponzi but it has a giant network and scarcity that Bitcoin that does not (the fact that networks exist for fraud chains like BSV or BCH proves its not scarce). And also people buy gold for jewellery/fashion purposes.

>>26099871
What's high school like nowadays?
I can't figure out if "online learning" would be awesome or super gay.

>>26098941
I don't understand what this means but I'm sayin' based.

>>26099871
Society won’t collapse, it’s just going to bleed out. It will be death by a thousand papercuts. The best type of asset to hold in a situation like this is one that’s verifiably scarce and can easily be moved across space.

>>26099798
>>26099909
You’re a schizophrenic mong. If the US federal reserve note goes to zero what do you think happens to your shitty country? You either go off the grid in some poor 3rd world or prepare to become a slave to the chinks

Imagine responding to such low level bait

>>26099850
already priced in, all the nations in the world cant pay off the money printer.

>>26099978
>life is unpossible without USD
There are people in this thread right now that really believe this.

>>26099958
>random intangible nonsense to help support your narrative
cope

>>26100044
Kek if you think the USD is going to zero before the event of America using their nuclear weapons then either you’re the one in high school or I have to bridge to sell you in Cambodia

>>26100069
What I am saying is there will be no "collapse" the way you think of it. It's not going to be where one day suddenly shit hits the fan and prices skyrocket and everyone begins to riot and the SS comes marching down the street to kill everyone. There will be no happening. It's far more insidious than that. Read the poem "The Hollow Men" by TS ELiot and you'll understand.

You'll just notice that every day simple things will become a little more expensive. Everyone's homes and apartments will start to get smaller. your work hours will get longer, but your pay will decrease. You'll see family and friends less, and find that in time you care less about them. Every day you'll find yourself lowering your standards for everything: work, food, relationships, etc. Job security will no longer exist as a concept. You'll notice houses and apartments shrinking. People will start hanging on clothing longer and longer. Less people will get married, even less will have children. People will engross themselves in technological distractions and fantasy while never truly experiencing the real world.

That is the collapse. The reduction of the American man into a feudal serf, incapable of feeling love or hate, incapable of seeing the pitiful nature of his situation for what it is or recognizing his own self worth. That’s why people hold BTC.

>>26098776
Also consider: crypto produces nothing. All the money is crypto is dollars in = dollars out. A person who buys a coin to enter the market is purchasing someone else's exit. Math says a proportion of people will buy at the top and get nothing but bagholding for their trouble.

>>26098871
Yeah banks will shut down all transactions via traditional payments, but someone will be powerless to stop people using the energy of Switzerland to trade to tokens.

Honestly if they just stopped letting banks transfer fiat money in and out of crypto, 98% would lose interest.

>>26098871
based
I posted my greentext on another thread yesterday

>be 27
>wage for a couple of years while paying off uni fees
>get CS degree
>feelsgoodman, working part-time shitty job upgraded to internship during senior year
>get full-time job
>fast forward a year I get a better offer; take it
>live frugally, pass out on life to save up enough and gtfo to study and get a better life
>economic crisis starts to happen
>financially raised to just keep savings in the bank and get interest
>people protesting they can't withdraw any money
OHSHIT moment
>I have 10k USD worth of Lebanese lira
>People can withdraw 200$ per month in cash
>central bank governor says lira is fine no worries
>keynesian raised that all is good
>Lira to USD starts to go even further
>civil unrest, protests, people can't get a single dollar
>black market rate starts to affect all goods and imported food since we basically have nothing local produced
>get laid off and unemployment is on the rise
>work a part-time job making 200$ worth of LBP
>had BTC and some anons sent me some when I made a thread about this, cash out for USD
>have around 1.8k cash at hand
>wagie cagie time lost
>fuck depression, I get tasks on plebbit and make friends online to get tasks that pay in crypto
>cash them out here for USD using peer-to-peer groups, exchanges always blacklisted us and the banks always said CRYPTO bad
>lurking /biz for a year, become based austrian economist
>fuck keynesians
>never keep your eggs in one basket, INVEST in crypto don't trade, achieve FIRE any means necessary
>fuck banks

>>26098776
Things I will buy with crypto
>houses
>cars
>guns
>food
>women

Things I will never buy with crypto
>little pieces of paper with numbers written on them who's supply is controlled by tiny hat people

>>26102249
based and crypto-pilled

>>26101176
This. It's literally a pyramid scheme which is why Warren Buffet has spoken out against crypto

>>26098776
Nah
All I can think about is how I can acquire more SATs. That's my endgame. I'm stuck at 1 BTC hell

>>26102249
Take your anti-semitic bullshit back to /pol/ you piece of crap

>>26102249
Ultra based

>>26101176
And fiat currencies do produce something? NGMI

>>26100129
kek you are delusional

>oh noo no one wants our dollarios anymore lets just nuke them if they dont think the dollar has worth

yeah like thats gonna happen lol

>>26098776
WE WUZ KANGZ N SHHEEEEEEET

>>26102457
Both of you are blue pilled and low IQ

Until the nukes say, "Look at me, Look at me, I'm the money now" and nominate a new global currency we're not getting away from fiat. Fiat is just going to become crash level bad.

>>26098776
I dont. I actually think that buying crypto right now is like buying the Island of manhattan from the indians.

I will just keep accumulating until I reach the point where I can comfortably live of passive income that my crypto generates.

>>26098776
all of life is a ponzi scheme. the sooner you realize this, the happier you will be.

>>26098776
nah, i'll hodl until i can trade 0.01 bitcoin for a modest house. and then trade 0.0001 for a decent new car. will not be converting back to fiat, ever.

There’s a point when crypto based on hard technology overtakes the central banking industry. I want to be there for the birth of Apple and Windows.

And no, I don’t want to cash out.

>>26098776
>We’re all just buying bags of crypto hoping to sell it for a higher price in fiat.
Pretty much. People believe in "tech" until they try to use it. Big fees, long ass transactions. It totally sucks now.
After the last bubble it's "store of value" now. But come on.. it's zero sum game and everyone should know it.
Kinda sad that real people are getting burned in the end.
And it's also sad how interesting tech turned into speculative bubble. BTC probably had more real life usage 5 years ago than now (it was drugs mostly, but still..)
Wonder what needs to be changed to make crypto usable as a currency. Probably built in inflation of some sort? Maybe bigger rewards with bugger networks and no token cap?

>>26100129
Yeah

The great nuclear war of 1990 harkened the end of the soviet union. But we rebuilt didn't we.

>>26099106
Likewise: meme virus

>>26102601
Such a cope chart. You're telling me by 40 only 7% of wimin are sexually attractive? Fuck off. Lots of yummy mummies around.

>>26102656
Apple and Windows is gonna be a fucking baby compared to crypto when that happens. You'd witness a shift similar to the invention of farming or the invention of trading. Where a lot of value is simply suddenly unlocked because all people in the world can suddenly store value but also freely allocate value

>>26102805
You just have a fetish for older women because your mother was likely old when she gave birth to you

>>26101909
>fuck banks
Based and redpilled

>>26102805
I've never had to resort to fucking a woman over 30 so I wouldn't know, 18-23 is prime for me. So seems accurate enough.

>>26102899
>fuck banks
>Based and redpilled

>>26099392
no one is expecting a complete anarchy. It didn't happen even in Zimbabwe when the currency crashed. Besides, even if someone genuinely believes in some extreme doomsday scenario, do you expect him to put his entire net worth into lighters and cans of beans? precious metals are the only thing that will allow you to store your wealth through the potential crysis and the only thing that will be universally recognized as money once the order is established.

lol

>>26098776
OP is a stupid kike ngmi

>>26102993
you are a fucking moron
https://www.arabianbusiness.com/politics-economics/457317-lebanese-currency-retains-title-of-worlds-most-undervalued
>>26102899
checked and yeah, they ruined my country


https://www.reuters.com/article/lebanon-crisis-salameh/update-2-lebanon-central-bank-can-keep-subsidies-for-only-two-more-months-governor-idUSL1N2IH2HU

https://english.alarabiya.net/en/News/middle-east/2020/12/01/Lebanon-s-Central-Bank-Governor-Salameh-says-he-is-independent-and-not-corrupt-

https://english.alarabiya.net/en/business/economy/2020/12/01/Lebanon-s-economy-has-plunged-into-a-deliberate-depression-World-Bank

https://english.alarabiya.net/en/business/economy/2020/04/16/Lebanon-s-economy-to-have-biggest-plunge-in-the-world-in-2020-IMF

https://english.alarabiya.net/en/features/2020/07/07/Lebanon-s-economic-collapse-is-slipping-out-of-control

https://www.wsj.com/articles/lebanons-central-bank-fuels-corruption-extremism-concerns-11606744393

https://uk.reuters.com/article/uk-lebanon-crisis-students/lebanese-students-abroad-fall-prey-to-financial-crisis-at-home-idUKKBN28A1I9

https://www.worldbank.org/en/news/press-release/2020/11/30/lebanon-is-in-a-deliberate-depression-with-unprecedented-consequences-for-its-human-capital-stability-and-prosperity

https://en.wikipedia.org/wiki/Lebanese_liquidity_crisis

https://www.nytimes.com/2019/12/02/opinion/lebanon-protests.html

some reading if anyone's interested

>>26099106
>coming to you soon

>>26103059
>It didn't happen even in Zimbabwe when the currency crashed
Zimbabwe is anarchy by western standards. Western governments are held up by complex financial systems. Zimbabwe is held up by a few child soldiers with AKs

>>26099406
this

>>26100242
This. Anyone expecting a clear cut "now it's on" hasn't really put any thought into this. It's not going to be some hurricane Katrina where everything suddenly gets shredded in a short span of time. It'll be the Roman decline.

UBI seems oddly similar to how emperors would subsidize grain and eventually just give it out for free. Guess what happened? People stopped producing in the Italian peninsula and eventually everyone who got suckered into depending on the states big tit got turned into serfs for a thousand years in the span of a century.

This is the most midwit post I've ever read

>>26103151
and yet you'll have much better luck trying to pay with a gold coin than with canned food or medicine there

>>26102296
kys

>>26099029
Thanks anon

>>26102601
The whole universe is ponzi, mate. Check out the
Second law of thermodynamics

Why don't you stupid cunts realise that speculative investing makes BTC worthless as an actual currency?

Why the fuck would large company use BTC when the money they're paid can rapidly lose value in a day?

>b-b-but fiat has inflation

Retard fiat won't be subject to a crash and lose half its value in a day

>>26103151
>Zimbabwe is anarchy by western standards. Western governments are held up by complex financial systems. Zimbabwe is held up by a few child soldiers with AKs
Back to /pol/ chud

>>26100242
based and jewpilled

>>26103470
How is that pol? He didnt dab on the Jews or anything

>He thinks crypto will kill banks
>He doesn't know banks are already in crypto and if fiat were to fail they would still be in charge just under a different kind of money
Meds anons, now

>>26100242
Pretty sure this is a copy paste from that thread a few months ago talking about how leaving the gold standard will lead to the collapse of America. I would like a copy of that thread btw if you have it.

FUCK JANNIES 0x725851601D35e0DdF1666483DADCE8e3E5032298

>>26100242
this. I'm holding PMs and miners instead bitcoin though. BTC has too many ties with the mainstream financial system and banks. however, I'm not completely against crypto. I think monero is legit and is what BTC should have been. will probably buy some in the future.

>>26103700

>>26099196
>If the USA goes under all of western civilization goes with it
Literally what? Why would I care in Europe that some country overseas went down?

Europe's economy is not dying. Economy != stock market.

>>26103781
Yes thanks