/biz/ - Business & Finance

Gold-sunk fallacy

Lmao gold is on the same level as ufology

Peter Schiff made millions in his life. Try talking down a successful millionaire just because he's bearish on bitcoin.

>>28067910
what the fuck

lol gold.. they'll take water and uranium. and bio samples of earth life.

>>28067910
I'm pretty sure aliens would rather take my jizz as payment than fucking gold
there's a fuckload of gold in space already but the only place they can get my jizz is right between my legs

>>28068060
>say something stupid
>but I'm a millionaire so it's ok

>>28067910
If intelligent life exists outside of earth, they wouldnt give two fucks about gold. Its a worthless shiny metal. If humans can develop enough tech to reach aliens, I am sure they can mine gold from asteroids and other planets. This boomer is stupid.

>make a coin called 'ayylmao'
>aliens invade
>???
>profit

>>28067910
He's not wrong about aliens being completely uninterested in bitcoin, but they probably wouldn't give a shit about gold either.

going full schizo

>>28067910
aliens want payment in khazar milkers not gold

>trade gold with aliens
>trade shitcoins with humans

Schiff is based. If you can't see it NGMI

>>28068362
If you go to another planet and they're using sea shells as currency you're going to use fucking sea shells to trade with them you moron

Aliens are a meme anyway

Gravity drives need moscovium to work properly and that doesn't even occur naturally on this planet. If they eat gold or something I'm sure they brought extra just in case.

>>28067910
By the time we are able to trade with other planets we will have already developed technology to do space mining massively inflating the gold supply. No one wants to transport a large amount of gold which is going to be very heavy to another planet.
Meanwhile with crypto all we have to do send a small network packet.

If a planet is to primitive to have created their own cryptocurrency then we should probably not interfere with their technological advances as they likely would not have anything of use to us.

Sex is the intergalactic currency.

>>28067910
Imagine thinking an alien race who can travel across hundreds or thousands of light years will care about fuckn gold....

>>28067910
>ayy lmaos will almost certainly accept gold
Why? Maybe shiny rocks have no value to them.
Seems like other natural resources would be the most likely thing to barter with. Why would gold intrinsically have value to another species?
>>28068182
Probably more likely than gold.

>>28068409
Also this.

>>28067910
his boomer coping has gone so far that he has to invent intergalactic trade agreements

>>28068741
Imagine thinking that if they cared about gold they would trade with us instead of taking it from us via force

>>28068943
space warfare is a meme, you couldn't have open hostilities between two planets longer than a week before one side used relativistic weapons to completely destroy the other.

>almost certainly
"May I temp you ayyyyys with our finest rock"

>Boomer rocks

>>28067910
Lmao based Schiff forever trolling brainless. If you read this tweet and took at as anything but a joke you may be under 120 IQ.

>>28068602
I don't see why you're calling me a moron when you're saying the same thing as me.

>>28069070
The worst part of this take is that you think what you just said was intelligent. Relativistic weapons still have to travel at or below the speed of light. Oh no, the glarphglians have sent an asteroid at us moving at relatavistic speeds we're all going to die in 5000 years.

>>28067910
What the fuck is it with leftoids and aliens? Reminds me of this shit
https://www.youtube.com/watch?v=WfGMYdalClU
>Man conquered earth and that's BAD because uhhhh...... because if ALIENS ever show up they probably won't approve for some reason!

Imagine thinking an alien race who can travel across hundreds or thousands of light years will not already conquered space mining.

the value of precious metals and diamonds needs to be removed. How efficient would a spacecraft that has gold wiring and light-diamond resistors be?

>>28067910
Correction:
>aliens will pay in asset I hold and not in the one you have that happens to compete with mine, peasantry

>>28067910
it's really funny to think that this guy does the same fud as us, just on a much higher, more public level... he's just shitposting against cryptowhales and has hardcore fomo with his lil goldmine.

>>28067910
Gold will be worthless for aliens. They'll have found a gold asteroid and tugged it to their homeworld

>>28069655
>aliums have lots
>hoomans have little
>they understand hooman economics
>they demand payment of their goods in gold
>this boosts their supply but diminishes our supply
>eventually all the earthly gold is with the aliums
>further trade is only possible through slave trade of hoomans

>>28069401
Nigger a relativistic weapon would be moving FASTER than the speed of light

>>28069838
that would be a superluminal weapon. Relativistic motion is speed of light or slower, because you know like, light is the universal speed limit. And if aliens had superluminal capabilities then they would also be able to do conversions between matter and energy and they wouldn't have the need to fight us anyway.

blockchain-based crypto would need some adjustments for use across interplanetary distances (let alone interstellar) because the latency imposed by the speed of light would break a lot of the implicit assumptions of algorithm in practice.

>>28069762
We would probably pay in living animals.

>>28067910
>Aliens will buy our boomer rocks

>>28067910
Does he not know that Aliens are mining BTC right now?

>>be alien with Super Computer
>>find out that Earth Men run an algorithm that produces lots of value which equals money
>>use your super computer to run such algorithm to deposit into your wallet faster than any human
>>humans = pink wojak
>>aliens = green pepe

>>28067910
its just a boomer saying boomer things

For trade with aliens the most likely mediums of exchange would be water(assuming similar biological functions to our own planet), then after that would be refined metals.

Making the assumption that any ships/things that we've built won't really be marketable. Would be like indians trying to sell a dugout canoe to colonists.

>>28068698
Don't forget the metric tons of gold at the bottom of the ocean that will eventually get mined once the vessels and tools to do it are made. Likely with bots so we don't have to risk pushing someone down that deep.

>>28068741
Funniest part is that said aliens could just mine the gold from asteroids and other planets before reaching earth.

>>28067910
What a retarded cunt holy shit

>>28071105
and how much will that cost brainlet? the gold price will have to be higher to justify getting it, otherwise they would already be doing it

>>28068741
its the best conductor of electricity and you can shape it thinner than any other metal and it will hold its form.

>>28070023
I would imagine that each planet would have their own distinct L1s and interplanetary traffic would be just sending transactions over. Having a L1 span even two planets is inefficient and risky. While there is risk in trusting another planet's L1, I think that is something you can not escape.
>>28070943
I think intellectual property would be marketable at least for the novelty of seeing Earth's perspective of things.
>>28071386
Sure gold is useful, but maybe another planet will already have access to a large quantity of it. It might be cheaper for them to just go mine some asteroid nearby than travel across the universe to pick some up from us.

>>28067910
Aliens prefer human jenkem.

>>28067910
At this point I'm convinced he's just doing this for attention by spouting the most ridiculous nonsense he can

>>28071844
I mean he's not incorrect the economy is only as strong as we want it to be, if our dollar can be devalued/revalued.

If you pull the plug on the internet for a month or change how people use the internet you now control Crypto.

Crypto itself uses energy if you take that source of energy away you manipulate it's value.

>>28071328
Would have to be done in some sort of passive way, otherwise wouldn't be cost and energy efficient your correct.

>>28067910
Imagine not going all in on AYY lmao
I'll be on the moon fucking my alienfu whilst this boomer is picking mushrooms for his starving family.

I'll pay the ayyys in boipussi.

>>28071925
what are you talking about? That's beside the point, he's wildly speculating on what ALIENS would want to trade with, and using it to draw conclusions about crypto. You don't see how that's retarded?

>>28067910
>can travel to earth
>cant travel to asteroids and mine the trillions of tons of gold there

>>28072252
Oh lol my bad I read gold and just thought was Schiff being Schiff.

yeah fuckoff Aliens don't even exist we are a god damn mutation.

>>28071666
well that part I can agree with

>>28071386
Is that really the reason gold is worth $50,000 per kilo? Because its a good conductor and you can shape it thinly. Graphene has those properties and doesn't cost $50,000 per kilo

>>28070107
I feel like we'd depopulate Detroit and Chicago much too quickly doing that.

hey biz, newfag here. I just got into crypto and I'm trying to understand where I should put my investments. Sure thing btc and eth is non-tradable for me now
i know enough not to follow into alts but I'm just not sure about new systems and pools with NFT

Found PoolzFinance shilling on twitter, seems legit but wanna know your opinion, is it good?
what should I do?

>>28067910
>How does he know?!?!?!?!?!!?
because he saw star wars and is extrapolating the shitholes of their galaxy refusing republic credits onto alien worlds in our reality refusing crypto
it's a normie take if there ever was one

>>28073106
Poor time to ask since things just started moving. Looking at the chart, Poolz is in support after a blow off top. It's not responding to other coins pumping so be careful. I recommend blue chip defi like SNX and AAVE or L1 coins like AVAX and DOT's testnet KSM.

>>28072756
No its because we use it as a store of value

>>28073106
Dogecoin nothing but doge buy super high.

Nobody will understand your long term plan but I do.

>>28069223
This, what a fucking bizarre statement

This such a retarded thing to say. It's akin to saying that when we met other countries in the past they wouldn't accept our fiat currency.
How did they trade Pound Sterling for French Franks? Because both had come to an understanding that the other was valuable to the other party. Ergo it makes sense to trade them because you can buy things with them from that party.
If Aliens came here they would instantly recognise BTC as our global currency (if it becomes it) and would go about integrating it into their markets.
Schiff is fucking retarded.

>>28071328
That’s the point though. As gold prices go up it self defeats by incentivizing production.

This is fundamentally why BTC is better.

>>28068698
Weight is meaningless in space, the issue is volume.

It's being pedantic I realize but it's more the volume that you're transporting not the weight of it in zero g's.
>>28071386
Silver is the best, copper is better than gold gold just works better in fine circuitry.

interstellar trade will be for trace resources and cultural items, presuming there is any other intelligent life nearby we ever come into contact with (we won't humanity is alone in the universe seek jesus and god)

lol imagine trying to give an alien gold he'd be like oi that's a yellow rock ya cunt

>>28075336
Pretty sure they'll recognize it as a material used for electrical circuitry. Assuming they visit us they'll have plenty of time to figure out our language and google shit.

>>28067910
>hyper futuristic alien race that’s been mining solar systems for millions of years and harvesting star energy wants gold

boomers are fucking stupid

>>28071386
>its the best conductor of electricity
It's not you nonce. It's advantage is, that it doesn't corrode, that's all.

>>28067910
'it'll be backed by real money, gold' like you know... our currency used to do? Remember how that went?

What happened to Schiff that made him seethe so hard, bros?

>>28068252
This. If aliens are intelligent, pretty sure they can harness the plasma inside the sperm nucleus and turn it into energy strong enough to power rockets. Google "Sperm Physicists" why most of them are assassinated when they are heard. Because sperm research gives men power.

Currency backed by stars in the universe when? STARCOIN?

>>28067910
Doesn't this retard understand that there is like hundred times more gold in The asteroid field than on Earth? Not to mention other shiny rocks like Platinum and Iridium. There is even more water there than on our planet.

>>28067910
Ya boi David Icke says the whole reason aliens put us here in the first place is to mine gold. Well, not just him, other theorists. Not that I buy into that shit, but I think it's interesting to note.

>>28075895
Seems like a lot of work to mine gold considering that they could just do it themselves. If they were gonna make biological life purely to mine shit you think the species they'd create would be a lot more efficient at it, like the BETA from muvluv or something.

>>28068270
>Say something smart
>but I’m a poorfag so no one will listen

>>28068310
earth is a pretty resource rich planet and gold has various industrial uses, if not gold they'd at least be interested in some of our rare earth mats like uranium.

though the boomer in the tweet is a fucking retard anyway.

>>28067910
fuckin lol this is the weirdest cope he's come up with yet

>>28075609
he knows about BTC since 2012-2013, that's what missing on 1000x gains does to a man. Now he has to sell ad space for pajeet dropshippers in his podcast, probably working on starting his onlyfans as we speak...

>>28067910
he's a legit retard

>>28067910
Lmao if you think Aliens are going to accept gold or bitcoin.

>>28069401
yes and you can't see it coming and have very little means of stopping it
real space "warfare" is stupidly boring and easy

>>28076901
DOGE on the otherhand though

How do we trade with aliens?

>>28067910
>>28076901
there's no reason for them to accept bitcoin, but unless they've completely mastered matter generation gold will likely have some value for them as it's a universally rare element.

>>28075663
not buying your deflationary ayy shitcoin

>>28067910
>>28068060
>>28068417
>>28073484
>>28076460
>>28078063
>>28078233
https://topratedfirms.com/brokers/customer/europacificcapital-review.aspx

>>28075609

>>28067910
If they truly are intelligent, they’d compare the rate of growth between the two and make a sound decision.

>>28067910
bought some silver from his firm and they are cheaper than every other buillon market place so im kinda partial to this guy.

>>28067910
>intelligent life on other planets

>>28078633
lmao

>>28067910
Maybe if it’s a planet of reptilian jews

>>28067910
>Be alien
>Be spacefaring
>Asteroids full of gold everywhere
>Some retard earthling wants to pay me with gold instead of standard currency
>Ayy lmao

>>28067910
funny how he's literally always wrong. why does he even have a platform, oh that's right because he's a kike.

>>28078308
Peter Schiffs fund got dunked on by a 12 year old girl who just bought bitcoin

>>28078308
holy shit dude.

>>28078308
>outperformed by gambling on shitcoins
kek, the absolute state of boomer investors

>>28078308
LMAO

>>28078308
>Magic tricks. Can make your net worth disappear.

>>28067910
Pretty sure aliens can synthesis gold if we can too

>>28067910
What if they're from a planet made of gold?

>>28081823

If you were from a planet made of pussy wouldn't you still like to fuck a new and exotic one?

>>28079858
>>28080262
>>28081228
>>28081351
>>28081613
ikr

>>28082129
i don't think that analogy is really applicable...

>>28068060
>Jewish
His opinion doesn't matter

>>28081823
>be alien
>whole planet is made out of gold
>find apes on dirt planet
>dirt really expensive on gold planet
>trade them gold for dirt
>mfw when

>>28076460
Incorrect/misleading. There's shitton of gold everywhere in the universe, including Earth. Issue is most of it has sunk into our core. Not the case with asteroids.

>>28083746
Fucking lol. Also probably going to happen.