/biz/ - Business & Finance

>>28434368
Bitcoin is going to be the world reserve currency of the digital space age that is used to back all other currency. Fiat is going to die. Don't be afraid

yep

Yes no maybe /thread

>>28434368
Kinda, but so is the stock martket and forex.

>>28434368
It is until it isn't.
/thread

>>28434368
Always has been.

It is the exact opposite of a Ponzi scheme. A Ponzi scheme is centralized

It's our ponzi scheme

No one knows. One day everyone is posting pepes, the other everyone is posting red wojaks.

>>28434405
>Gold: has utilitarian value, laws of universe show no more can be made, still not a world reserve currency
>Bitcoin: no utilitarian value, can be duplicated, somehow will be a reserve currency

Get a load of this retard

your mums a giant ponzi scheme

>>28434368
Yes, but in the way that gold is a ponzi scheme
Not all ponzi schemes are scams anon

>>28434600
yep, borg scheme.
the fuzzy ends of it makes gains more forgiving. many will lament it's eventual passing.

>>28434600
Something like 80% of all crypto is controlled by 1% of wallets, and many of those wallets belong to one person.

It is about the most centralized thing on the planet.

>>28434368
No, but LINK is

>>28434683
gold is a rock and no util value to nonretards who arent birdbrains fancying shiny worthless rocks

Yes.

>>28434368
everything is a ponzi scheme anon

>>28434683
There are literally millions of tons of Gold in space. Absolute dogshit reserve currency. Why would I buy gold? I can just fly my ship to the asteroid belt and get as much as I need.

>>28434368
For now it is until the masses start using it in place of cash

>>28434683
Flint: can be used to hunt giant sloth, cut plants, kill other tribe. Big spirit

Gold: soft rock look pretty. Useless for hunt. Cannot dig grug poop hole with gold axe. Small spirit

>>28434875
Yeah seriously. We haven't even started asteroid mining yet. Shit is gonna be crazy.

>>28434897
This is a libertarian pipe dream. Crypto is too volatile to ever be a functioning currency.

>>28434800
Yes but a Ponzi scheme is where a single entity takes your money and says “I’ll give you X back in return” and just fucks off with your cash
When you buy crypto you’re getting an asset in return. I’m not saying crypto couldn’t possibly be scammy, but saying it’s a Ponzi scheme is just ignorance of what Crypto is and probably also what a Ponzi scheme is

>>28434683
>>28434811
>>28434875
Actual retards or trolls. Gold is literally fundamental to all modern computing and the micro electrical infrastructure that enables the modern world.

Gold is just about the most malleable metal on earth and extremely conductive, it's become more critical as computing demands increase.

https://en.wikipedia.org/wiki/Gold_plating#Electronics

>>28435267
gold doesnt have 1/1000000th the use of copper or silicon PLEASE stop typing boomer libertarian

>>28435267
LOOOOOOOOOOOOOOOOOL

https://www.the-sun.com/lifestyle/tech/261083/giant-golden-asteroid-has-enough-heavy-metals-to-make-everyone-billionaires-and-nasa-is-heading-there-in-2022/

>>28434368
>Is money a ponzi scheme

>>28435238
>an asset in return
no, assets produce things or are used for production
>>28435238
>Ponzi
correct, its technically a pyramid scheme which is slightly different than a ponzi

FACT: All crypto gains have come at the expense of other people. This is not true of stocks because stocks produce dividends and because companies can grow (bitcoin cant grow).

AGAIN ALL REALIZED CRYTPO GAINS COME DIRECTLY FROM SOMEONE ELSES LOSS. This is a mathematical fact.

Crypto is just a wealth retaining device right now. The world is going to change when it starts to permeate every facet of modern life in about 10 years.

>>28434683
Bitcoin can only be duplicated if all of the miners in china somehow coordinate to double spend. They will never do that because they know that will kill the value of the currency.

Then again it is China. If the government wants it to happen, it will probably happen.

>>28435576
That is as long as things are measured in USD. Once fiat is hyper inflated and 1 bitcoin is 10 million dollars and a loaf of bread is $5000.. does it really matter then? Or would you just trade in, more valuable and useful, crypto then?

>>28435373
All the gold in the world wouldnt fill up a swimming pool.

You do not understand how rare gold really is.

When gold is mine an area the size of manhattan will be dug up and it will result in about a soda can full of gold.

>>28435873
>Bitcoin can only be duplicated
People used to brag about how their domain name could never be duplicated.

Then top level domain names came out and all these "web estate" names people were holding becamse nearly worthless.

People used to make millions selling domain names like "money.com" then top level domain names had so you could have money.us money.nl money.fun and on and on and on.

This is what i mean when i say you can duplicate bitcoin.

>>28435889
>Once fiat is hyper inflated
and then all of a sudden a miracle happened

>>28435238
Oh like Celcius network
Got it

>>28436199
hahahahahahahaha
>and then we went to war
ftfy

>>28435889
Why wouldnt i just use stocks to buy thing? I mean stocks have legal voting power?

Oh let me guess, when hyperinflation comes every single company will go bankrupt and over night no one will ever go to work, we will all just sit in a corner, cry, startve, masturbate, and beg for crytpo currency from people like biz posters.

Lol, so delusional.

>>28436315
They needed to pump the petrol dollar.

>>28434368
literally everything is a ponzi scheme

>>28436089
>reddit spacing
everytime

>>28434368
Yeah

>>28436479
I win. I made a perfect analogy and point and all you can focus on is the fact that i put a space between points.

You

are

a

NiggerFaggotJew

>>28436089
litecoin bch bsv all exist already
guess what? they're fucking TRASH and nobody wants them.

>>28436611
It just assumes your audience has too much adhd to read a properly written paragraph such as is found in books, articles, or any form of written media before the inception of Reddit. That's why its annoying.

>>28436089
money.com is still infinitely more valuable than money.mylittlepony

>>28436907
you have to go back
>>>/r/eddit

>>28436611
Also you make good points but obviously the transition from the legacy fiat financial system to the new crypto financial system will not come without its bumps and hurdles. Regardless, it still makes sense to use a fully digitized currency in the rapidly approaching digital space age. The question is not IF but WHICH currency. Will it be the currency made by legacy centralized banking institutions? Or the decentralized currency such as Bitcoin? I prefer bitcoin.

>>28437303
Nigger.

>>28435267
Golds industrial uses sure eclipsed by it's use as a speculative asset and jewelry. It's you said silver you'd have a point but gold is overvalued.

>>28434368
>doesn't realize fiat is already part of the global finance ponzi scheme

>>28434368
No, but the US Dollar is.

>>28436907
That's not what Reddit spacing is. Reddit spacing is when the user habitually hits enter twice because of a quirk of reddit's formatting (which might not even exist anymore). All you newfags think deliberately putting spaces between paragraphs or sentences is Reddit spacing and need to go back.

>>28438048
I've never used reddit beyond browsing so I wouldn't know. Thanks I guess for the explanation. You can go back now.

>>28435107
Wrong. The only reason it's volitile is because we look at it in terms of BTC to fiat. It will eventually flatten out when it's becomes widely adopted, which is what you're seeing with these major companies accepting it now

99% of cryptos are in fact ponzi schemes. Just 1% of cryptos are legit. Just like 1% of motorcycle clubs are criminals

99% of cryptos are scams. Thats the truth. Only 1% are legit and will survive. There is not that much blockchain actually is useful for. It is overhyped. Defi is mostly a joke so far. Just trading and lending useless scam tokens built by other scammers.

yes but so is the regular economy

>>28438600
>>28438405
checkd fed

When you grow older, you will understand everything in this world is basically a big ponzi pyramid.

>>28434368
Yes but so is the stock market

>>28435890
sounds like bullshit
it could easily fill my swimming pool

>>28434368
Yes, but it will work in your lifetime so who cares. Buy BTC and fuck off.

>>28434683
>>Gold: has utilitarian value, laws of universe show no more can be made, still not a world reserve currency
1. In an effectively infinite universe there is a nearly infinite amount of gold
2. You can create gold through fusion

>>28434683
>duplicated
Nigger, what the fuck are you talking about?
Also, gold's supply isn't maxed out. Stay poor. I bought under 10k. At least you have shiny rocks tho lmao

>>28438143
Where did you get the impression I've ever used Reddit from what I just told you? I was here when reddit spacing was coined and thus actually know what it means. You are a newfag aping things you see other newfags say in an attempt to fit in without any understanding of what they mean. You need to go back

>>28435267
Only like 13% of gold is actually used for that. Some other small bit for jewelry. The rest of it's value is literally speculation.

>>28434368
yes and you're in the first 10%