/biz/ - Business & Finance

Peter Schiff is the hero we need. Makes you question if bitcoin is truly needed or whether it was a scam all along

Saif Ammous debate with him is better although saif was way too nice and respectful to this smooth brain greasy liar

>>28728592
Buying gold and silver with its gains

>>28728592
18.01.2021
yawn

Tbf, does he actually say anything that's incorrect?

Tbf, does he actually say anything that's correct?

>>28729143
>>28729226
Yes. He's incorrect because he doesn't see how Bitcoin's scarcity works exactly like fucking gold. He's correct in that BTC is fucking useless because its too expensive and slow to use, which will only compound as the price increases.

Basically BSV is Bitcoin

Peter Schiff
hahahahahahahahahhhhahahhahahahaahahah

>>28729404
this
bitcoin is the first asset in history where the jews didnt get in first
this pisses him off

>>28728592
Thank god this man saved me and my future by convincing me to buy metal investments

>>28728592
The final red pill is that Peter Schiff is Satoshi

>>28728592
there is only 1 use case for bitcoin:
trustless permissionless and secure ledger maintained by a byzantine fault tolerant distributed consensus.

>>28728592
Hmmmmmm

>muh real value
Do those niggas really believe that gold would cost 1800 dollarinos if it was valued based on its practical usage alone

>>28729788
it would probably be $50 to $250 hard to tell cheaper gold could see more widespread menial use.

>>28728592
HMMMMMMMMMMM

>>28728592
Provide a decentralized global finance system for anybody in the world with a cell phone.

Cryptos provide way more value than fucking gold

>>28729860
every time when someone fuds bitcoin and you look at wikipedia...

Making people rich as fuck.

>>28729143
>it has no use
anyone who's done more than 5 minutes of research on bitcoin knows this is false

>>28729390
i think the key argument about bitcoin (and why schiff is ultimately right) is that all the money that is "made" from bitcoin has to be put in by others
so if everyone sells next week a lot of early holders/buyers might still be happy while tesla and similar will have a big sad

i mean even gold (which might be the asset/commodity that is most similar to btc) has intrinsic value as it is used for JEWelry and some industrial applications

>>28728592
Send my under-the-table money from US back to my relatives in Mexico without expensive Western Union

>>28730350
all value put into fiat has to be put in by others too, usually via work. So what is the difference if you want to store the value you've accrued from work into bitcoin instead of fiat? In the latter case, your stored value does not decrease due to your government printing billions and giving it to niggers

>>28730350
>>28730613
I guess I can see your argument if you'd rather invest in a company that makes profits but compared to gold bitcoin is the better value storage medium, if only because gold is potentially infinite, while bitcoin is definitely finite

>>28730201
To be fair that applies to most people in finance and crypto

>>28730424
They do this with rip and rsr

>>28729390
>too expensive and slow to use, which will only compound as the price increases.
I’m not in bitcoin, but those aren’t bitcoins problems and here’s why.

Slow:
- will be tokenized on bank exchanges like paper silver (pluses and minuses there)
- will be tokenized and traded on the xrp ledger, you know the coin built to legally host all money, derivatives, contracts, crypro and realestate assets.
- code for generation can be updated with 80% node agreement, like every crypto.

Expensive:
Ehh, divisible and tolkenable

I can get in the igloo

>>28730350
You have to realize fiat is in trouble, the unprecedented spending over the last year has created massive inflation. If you haven't seen your grocery bill go up you haven't been paying attention. In that same time BTC has gained the majority of it's value (40k)

BTC is the ultimate store of value; claims it's "useless" because you can't use it like a credit card make no sense. It's not meant to be used as a way to buy your groceries. It's for luxury purchases and to keep your money from losing value as fiat is abused by the govt.

>>28730613
>>28730698
but the "value" of fiat is not its "value store", its the fact that it can be exchanged at (almost) any time and place for something that i need -> its a currency
I think the idea that bitcoin could be used as a currency has died long ago, its too complicated (that could be worked around), its too slow (that cant be worked around) and ultimately regulators will be in your way, because he who controls the money, has the power -> its not a currency and never will be

its not an asset like land or a security, because it doesnt have intrinsic value and cannot generate value

so it could only be a commodity - as i said - like gold, and in that case as mentioned i dont think its better than gold. all commodities have real world applications (silver, gold, platinum, grain, oil, cows), bitcoin doesnt have that either
the only thing it has is costs (constant and expensive mininig to facilitate transactions) and scarcity
quite weak if you ask me

>>28728781
No crypto is truly needed by anyone, anywhere, any time, any place. It is a volatile investment opportunity for people to throw expendable cash at while hoping for high returns. That's it. The entire world would be 100% fine and move along as usual without blockchain technology. It is arguably less relevant to human history than simple gambling, and is at best, no more relevant than the stock market (which is also something the entire world could do without). I'm not saying to avoid it. On the contrary, I've made good money off crypto. I'm simply saying that it is fundamentally useless outside of its own ecosystem.

>>28730951
This is correct

>>28731066
trustless, permissionless, anonymous, decentralized store of value. gold is none of those things.

>>28730951
Bitcoin only has these problems because Jews are keeping the blocksize small. Then these kikes offer the same solutions you're proposing, a banking layer that people use for payment processing that keeps fucking kikes in the middle of the financial system.

So I suppose what I'm saying is FUCK YOU

>>28731179
Yes let's stay the same forever

>>28731271
>anonymous
Wrong.

Steal money from normies

>>28728592
Making me money
I don’t care about the rest

>>28731271
Keep your IOUs and transactions in a text file on an encrypted volume. Enforce payment of debts owed to you through intimidation and violence. Avoid paying taxes at every turn. Invest in weapons, ammunition, and securing tracts of land. These tactics will defeat both crypto and fiat forever.

>>28731271
and 3 of those qualities you listed would make any of the powers that be really, really nervous, so you think thats gonna happen?
right now one of the main ways dissidents (be it generation identitaire or russian diplomats) are shut down is via attacks on their bank accounts and freezing their assets
you really think they will give that power away?
the complete destruction of crypto is just one "special circumstance" (e.g. a huge crash in which tens of thousands of retail gamblers lose all of their live savings in BTC) and subsequent legal reforms away

right now its not big enough for that. a lot of people will cry if it crashes but its not gonna be a danger for the economy
but imagine it really hits 500k or 1M and in the next crash institutional investors go bankrupt because of it, the economy suffers, all that shit

>>28731066
>i dont think its better than gold
compare charts, many people seem to disagree with your opinion

>>28731647
>just become your own government/sovereign

You're not wrong, but I mean come on man.

>>28731693
its the nature of a bubble that while it expands everything looks mellow.
i think at the moment in all of the BTC positions there isnt a single bagholder

>>28731524
No. I'd love to see the stock market and all speculative trading collapse entirely, along with central banks. Again, I have had a lot of great luck with crypto, but ultimately, wealth should be based on obvious value like production of tangible goods, and property ownership.