/biz/ - Business & Finance

very boomer opinion on bitcoin.

thats a kike

>>28156063
lol

>>28156106
Notice how he never makes the statements he makes about bitcoin on other real cryptos

He said my digimoney has no real value! He's just old and doesn't understand me! He's not my real dad!

>>28156063
Definitely very correct. Thats why hes tweeting about bitcoin every 2 millisecs. He doesnt seem worried at all

If you put $100k in crypto in the last 3 years you would have $1MM-$10MM now.

But instead you listened to Boomercunt and turned your $100k gold into $120k.

>>28156213
He probably thinks all crypto is bitcoin

>>28156063
He has no understanding of what cryptocurrency is. Probably has never heard of a blockchain...

He might be right about Bitcoin though

>>28156063
yea
that's why besra gold has a huge marketcap

>>28156213
he has mentioned chainlink on his podcast

>>28156063
>>28156447
yup everything he says is right, definitely
read for yourselves
https://topratedfirms.com/brokers/customer/europacificcapital-review.aspx

>>28156063
It's possible to be correct but wrong at the same time. There's no reason something like Chainlink should be worth $.50 let alone $25 yet here we are, with a Russian repeat crypto industry scammer (NXT) operating out of the Cayman islands (I just saw they took this information off of their newly designed website) selling a string of buzzwords to American teenagers and making himself a billionaire in the process. Same goes for Bitcoin. There's no reason this dated piece of shit should be worth any more than any of its counterparts.

>>28156650
Read my post again, retard.

>buy my shiny stones
no

>>28156106
He's basically a seething /biz/ shitcoiner

>>28156063
I'm so tired of this. Can you read graphs nigger? 10 years of valuation. Why stay in denial? It's like you hate profits.

>>28156615
Yeah, but just as an example of a hot market. I don't think any of this shit should become currency, because it doesn't have value across every instance. However, his main points obviously don't hold up well against ethereum

>>28157669
Literally not even 1 business cycle you adhd zoomer. Interest rates have not corrected since volker. No body that isn't about to retire has seen jack shit for a "cycle"

>>28156063
Not about this one!

LMAO

Gold
>abstracted supply, hard to sell, must go through lots of middle-men, hard to actually be in possession of what you physically own
>Useless as a transactional currency

Bitcoin
>Known supply
>Immutable ledger of transactions
>Not even close to what its true value is
>Gained more yoy value than gold by 1000s of %

Schiff is a dumb boomer conman

>>28156063

The funny thing is that he was right about everything pre-2010, but he's too Boomer to realize that Bitcoin was the answer. So instead he flails around and launches idiotic attack after idiotic attack (an Austrian talking about intrinsic value? Really?) because of his cognitive dissonance.
Watching him argue with his son on Twitter is amusing, because his son has taken his father's beliefs to their natural conclusion.

>>28158008
checked

>>28157971
based ayys love schiff gold

>>28156063
He's literally never been correcr about anything. He said bitcoin would die 7 years ago, has been saying gold would become the stand for how long now? Dude is fraud.

>>28158134
He line by line predicted the housing market you retard. He was literally in on the big short before most of the guys in the movie.
https://www.youtube.com/watch?v=jj8rMwdQf6k
He went to the mortgage bankers scene from that movie and had a public debate TWICE before the crash trying to warn the brokers

>>28157865
I get it, it's a risky investment. But still, given it's track record it would be utterly retarded not to have it at least 5~10% of your portfolio.

>>28158291
I 100% believe bitcoin will go to zero, but I still own enough that I will make money overall in a 90% gold/silver/miner portfolio if bitcoin totally replaced gold.
5-10% is too much imo

>>28156063
>correct in theory
>wrong in outcome
many such cases

>>28156213
>>28156498
It's like back in the day when parents called all video games a "Nintendo"

>>28156314
Imagine having Shiffy as a dad.
He probably required his offspring to pay rent at age 8.

>>28158283
If you bought a house at the top of the 2007 bubble and held it through the crash it would be worth 2x as much now.

he basically runs a Ponzi scheme himself, he gives doomsday advice for free, shills his gold, defrauds (allegedly) his investors, and does whatever he can to get on TV.

that being said he's probably right about a crash, we are overdue for a big one

>>28156063
>Satoshi (SN) left for a reason.
He's 100% correct about bitcoin. It was a cute, successful experiment.

>>28157932

ok this one stings

>>28158283
>He went to the mortgage bankers scene from that movie and had a public debate TWICE before the crash trying to warn the brokers
can't blame them for not taking Schiffys adivce!
they probably looked at his track record and saw that there is a 1:100000000000 chance that he is correct.
sucks for them that the was correct for once kek

>>28158697
anon you can't commoditize real estate prices like that. If you bought a house in FL you're up like 25% total. Not annualized. However industrial real estate is way the fuck up.
Not that any of this actually proves that he was somehow wrong about the housing bubble.

>>28157971
please tell that this is fake

lol, you can’t get what is scam and what is star
why are u here lil boi? wanna check this shit? cmon - go for it
I will be clever and wait for playcent nft launch, my purse will be safe

>>28158697
not quite but almost

>>28158811
You fucking zoomers don't understand how to be a bear. Read Spitznagel's book to figure it out. He made like 10x in the housing crash (should have done better I know).
But back then he was less of a permabear than he is now. He was shilling oil stocks in the late 90s during the tech bubble and was right about that too. His only problem, ironically, is not knowing when to leave the table for a bit

>>28158949
post hidden after trying to read the first line

it's much easier to scalp gold than crypto and i am not a patient person

>>28159007
>He made like 10x in the housing crash
source?

>>28158697

>>28159188
This tells us what?

>>28159122
I'm not gonna try and find it desu. It was some talk he gave when he was referring to the debate he had at that confrence and that figure is for the hedge fund he set up to short the housing market (like I said, should have done a lot better, but carrying costs are a bitch with real interest rates). Within old school brokers he's one of the only guys worth listening too, but he's way too optimistic on oil for some weird reason.
You also have to realize the audience he plays to. With his profession and licensing, he can't tell the average listener of his podcast to go all in on inflationary bets and then short bonds as a hedge. He has to make sure that the can stay solvent forever and still have current income.
A few of his funds are actually very good if you have stock accounts, a couple are shit though

>>28156650
Bitcoin could be worth
$0 tomorrow. Gold has been valuable since before the wheel was invented. crypto is a fad and the only way it has a future is if thats the only way you can buy ze bugs to eat and rent ze pod in a cashless society.

>>28159296
That houses aren't worth twice as much as they were in 2008, they just cost twice as much.

>>28159612
based

>>28156063
Saying "there's going to be a crash" is the easiest way to pretend like you're predicting the future. When no crash happens people are too happy to care and when a crash does happen everyone thinks you're a genius with psychic powers.

>>28159612
Is that even relevant when currency will probably never go to currency heaven?

>>28159843

>>28156757
Yes it is called a bubble. Tech bubbles are always the biggest because normies are stupid and when they see complex shit they dont understand they think it is valuable when it isnt.

It is like a boomer finding an iphone 1 and thinking it is worth 1000's of dollars. Zoomers are even more retarded than them because they think because they grew up playing xbox and using twatter they understand tech and no one else does. I am genx and we built all the shit these morons are using. I am also a computer scientist so I literally built a lot of the shit these morons are using. Meme tokens are ponzi schemes anyone who isnt a moron should be able to figure this out. Zoomers are attached them and seethe when people tell them this though because they are atatched to it and think it will make them rich kek. Like if you are telling someone them their girlfriend is fucking other dudes, they want to fight you when you are just doing them a solid, but they dont want to accept the truth. It is sad really but a good way to determine someone's character and IQ - how they behave when they are told things they dont want to believe.

>>28156063
uhh.. no. He's not and never has been. I thought he was correct 20yrs ago, too, when I was a fucking idiot.

>>28159612
>twice as much
17.396 divided by 5.255 isn't 2.

>>28159556
cope some more

>>28160334
>cope some more
I am not wrong. you are the one doing all the coping just by saying "cope some more" because you know I am right. you are literally coping.

>>28160954
lmao pic related is literally your argument ahahaha

>>28158697
Sucks though cos your money is now worth half as much. Also can't pay your -overpriced- mortgage if you lose your job in the recession

>>28157932
>Bitcoins: SAFU
>Golds: NOT SAFU
CZ has spoken.

>>28158104
Holy shit... booba-sama... i kneel.

He doesn't understand how crypto is going to crash hard (it will) but he's right about the fundamentals. Just looking at the marketcap of the top 50 coins should be enough to scare any rational investor, considering most of them are useless vaporware.