/biz/ - Business & Finance

>>3251399
Bye

>>3251399
go read business insider your imbecile

>>3251399
>buying shiny rocks

>>3251399

>Buy my gold and silver REEEEEEEEEEE

no thanks

>>3251399
>good goy, take your money our of that system and reinvest it into ours

>>3251399
filthy dumb boomer scum

Mr. Buffet would like a word with you. At least shitcoins have at minimim 1 use case.

>>3251422
>>3251424
>>3251429
>>3251433
>>3251437
>all these butthurt coinholders
I'll enjoy seeing you burn.

Or you could just get out now like I did.

Totally agree I mean this satoshi nakamoto guy could steal all the bitcoins aswell dont forget satoshi he is a pivotal charctr in this "bitecoin" thing

>>3251449
Already cashed out, I just hold enough to reinvest and repeat my cycle again which I am

>>3251399
You do know the US not owning gold anymore right? Sorry to burst your bubble but you should research first. All gold is spread out over the world. Heck most gold is thin air. there are more papers than actualy gold. Check out fort knox and the gold reserves from the US. I bet it's almost empty.

The hansiatic league felt the same why when double-entry accounting came out of Italy.

This guy mistakes use value for exchange value.

Peter Schiff?

Well shit if he says it, I'm out. Cya fags. I'm not even kidding, he predicted the crash in 2008 and made tons of money. I am out of here.

>>3251399
How do goldbugs manage to be literally wrong 100% of the times? One's gotta admire their perfect score at being wrong and oblivious. Is there any way I can ask a goldbug info about what shitcoin to buy and then do the opposite?

>>3251449
You are showing incompetence by calling people butthurt nocoiners and trying to push your agenda onto others based on an opinion you heard on a podcast.

Just leave man, just go do your gold thing and leave crypto behind. If we all burn it wont affect you so why are you so upset.

>>3251449
>>3251459
normie pieces of human scum
>missed out an crypto
>now think they can FUD
retarded inbred imbecile pedophiles you are
>empty from the inside
>not able to feel
>not able to enjoy

>>3251442
This.

Salty boomers are pissed that the newer generations found a way to stop them from sucking the blood of the young. No free retirement and medicaid for you, you worthless fucks.

Peter Schiff is the epitamy of a spoiled, delusional boomer and Im looking forward to watching all of their unethical schemes collapse on top of them just as they get to that special age. I hope they invested in a gun with at least one bullet in it.

>>3251399
>taking decades to become a millionaire

>>3251493
Not a fair analysis.

I actually disagree with OP that
>every coin has no value

my digibyte coins once held in a hardware wallet allow me to experience great amounts of sadness and sorrow. Before I bought them I never felt sad or upset but after dgb now i can feel more emotions
Thank you Jared

>>3251446
Use cases: looking pretty, dentistry, electronics.

If I had a building with a huge and elaborate golden facade I wouldn't say it has "no utility", throw out the facade and replace it with more living space. Just like I wouldn't throw out huge quantities of cosmetics or decorations.

They may be useless to a guy putting on his emotionless witticism cap, they are not actually useless to the human race which appreciates aesthetics. Gold has huge utility in being a visible show of status, whereas nobody is going to fuck you if you staple the drive with your bitcoin wallet to your clothing.

You can stop using this image as a defense mechanism, especially since Warren Buffett doesn't even have crypto.

>>3251491
LOLol

>>3251541
not fair but 100% true
>OP is human scum
>OP most likely got burned because he entered crypto and bought ETH for 400$
>OP most likely works shitty job and as being the imbecile he is dead from the inside

>>3251399
>believes an old faggot in suit
>does not believe an autistic russian nerd
get out of here,cuck

Peter Schiff is wrong about crypto, I agree.

His other points aren't though. I know people always mention that a broken clock is still correct twice a day but that's missing the substance around it all.

The idea that the fed went 10 years at basically 0% interest is unfathomable. Nobody expected any of this. The fed lied so many times about raising the rates over the last 10 years that it all becomes a joke. The CPI is a fucking joke and obviously cooked.

It's not Peter who is delusional, it's the fact that the lies went on for such a long time and unseen prior at this scale.
The USD and markets were inflated painfully high and we will all suffer for it soon enough. The recovery from the recession is an absolute joke.

>>3251399
never post here again your male asshole sucking piece of raped (by dad) creature

>>3251459
This raises an interesting point.

I have a bachelor in computer science from a respectable school, I graduated with a 4.0 GPA. I was far ahead of the average graduate in my cohort.

Most of you are not actually knowledgeable about technology; you are just everyday normies who know enough about crypto to either pull the wool over your own eyes or pull it over others.

There are guaranteed to be people from /g/ with respectable computer science educations and degrees, but they are maybe 5% of the population here. The rest are along for the ride.

>>3251579
>buy gold
>keep it in a safe and don't use it for anything
>price goes up because others are doing the same

>buy crypto
>keep it in a wallet and don't use it for anything
>price goes up because others are doing the same

aren't they exactly the same?

>>3251640
>I have a bachelor in computer science from a respectable school
spends his time posting on 4chan

>>3251399
Sure thing senpai. See you in 10 years

>>3251640
>I graduated with a 4.0 GPA
mom hates me
dad hates me
everybody in our family hates each other

>>3251679
Got one too
but i believe that this stuff will change at least financial transactions even for normies, or even more
I can not take someone seriously who does NOT think that this will not be a revolution

>>3251399

>>3251627
This.

We've gone on too long this way. Our currencies and economies are hollow and empty. The emperor has no clothes. Someone like Peter Schiff is going to take cooked figures and regurgitate them like they are true.

The US has more than $100 Trillion in unfunded liabilities last I checked, there's no magic way of getting out of it unfucked.

Peter Schiff is just a baby boomer fuck who wants to keep the charade going just long enough for it to outlive him just like every other piece of shit babyboomer cocksucking piece of shit.

>>3251459
>>3251640

>Totally agree I mean this satoshi nakamoto guy could steal all the bitcoins

You people know literally nothing about how digital currency or asymmetric cryptography works. Read a fucking book or something

>>3251791
wooooooooosh

>>3251644
>>keep it in a wallet and don't use it for anything
wrong, with crypto you can buy pretty much anything

>>3251791
hahaha, they propably worked their homosexual pedo asses off for years to buy this small faggot house and the stupid car they will crash before the end of this year

Well put, fuck these faggots trying to rain on our shitcoin parade.

>>3251399

Bitcoin value is zero

People buying and selling tens of millions of dollars++ every day at $4,000+

Pick one, then proceed to kys

t. Schiff fan who's been actively listening to his stuff since 2007 but now questions whether he's fudding to buy low or just a retard

>>3251856
everybody who spergs about intrinsic value is a retard.

>>3251837
You can sell gold whenever you want too, it's not like you're hoarding gold coins. Some do, the large majority don't.

Most people buy gold in equity. You can sell it instantly to get cash on whatever the fuck you want. They even have shit like this now.

http://www.sendgold.com/how-it-works/

Crypto and gold both generally hedge against the official currency. They do differ in unique ways, but it's not in the regard you mentioned.

>>3251856
Neither, he has a vested interest in making sure that crypto never takes off. He's either lying to himself or to everyone who listens to him spew diarrhea from his mouth, crypto is no worse than fiat currency and some (like ETH for example) have use beyond just a means of storing value.

Bitcoin's use case is actually in accounting. It acts as a fully transparent ledger for trades.
It's not just about holding value as value. It's about publicising it and securing it.
That is a use case in itself, somewhat separated from simple speculative value.

But other crypto actually has valuable, NON-CURRENCY use.
Smart contracts are a good example. Programs that are stored and run on the block chain. Upon pre-set and agreed upon conditions.

If the whole internet would run IPFS, for example, and get paid in Ethereum or similar for doing so, then much of the inefficiency of network travel would be alleviated.
No longer would the entire network need to suffer performance for the transfer of viral videos from the initial server to the viewers. As the local users themselves would upload automagically to anyone nearby.
And people could get paid for doing jack shit to do it. Incentives for efficiency.

>>3251916
>You can sell gold whenever you want too
you don't need to sell crypto to buy stuff with it, and it's incredibly divisible as opposed to Gold. Gold is also easier to fake.
>They do differ in unique ways, but it's not in the regard you mentioned.
They do though.

>>3251399
>Software has no value
>Networks have no value
>Software that facilitates a global payment network has no value

I would tell you to KYS but you will do it on your own eventually

guys wtf is this thread I can't tell what's serious and what's not anymore it needs to stop

>>3251856
>>3251894
In the short term yes, but Ignoring intrinsic value over the long term is retarded.

If you don't understand this then you need to read about some basic investing and discipline behind it.

Once the government enters the picture, it will all be very different.

>>3251640
Yeah I have no idea what I am doing. My gains arent even that impressive. But i have gains....well I mean they're impressive compared to the stock market. I turned 3 grand into something like 12 grand in 5 months. Not bad. Not great either. I tried to get out. These gains lately are insane....and while I am fairly greedy I am not fucking retarded. I know unnatural growth when I see it. But I mean gold doesn't really have any value either. I own some and it just collects dust. I do think we are going to go through rough times here soon in this recovery from the last recession. I want to get into weed and alcohol stocks because I think those will do good in a recession or even depression. Anther guy here told me to look into VIX and I still have to do that.

>>3251856

I really doubt your intelligence and your claim to be a Schiff fan if you claim that something having no real value and yet people are spending millions buying and selling them are somehow contradictory statements.

Mortgage-backed securities composed of home loans to people who have no capacity to pay them back are completely worthless and yet people decided to spend hundreds of millions and billions on them. The point isn't that "there isn't money in it" but that you don't want to be holding the bag when the market tops out and people realize that they've been riding a bubble and the price then plummets towards it's real value, little to nothing.

Ethereum has no value, Bitcoin is questionable, and like 99% of the other altcoins are completely worthless. Literally the only coin I can think of that has intrinsic value is Monero because at least that can be used for laundering money, which is of obvious and direct value that you can't (easily) do with paper money you have running through the IRS-watched banking system.

>>3251399
>gold has no use other than store value
>crypto is a network that will change everything from transactions to banking to internet and cloud storage

At one point I was like you, all these shitcoins spawning, surely a bubble, then I started to see shitcoins aimed at changing already existing markets such a gambling, went deeper and deeper, crypto is the future, the marker might crash, the current kings might fall, but out of it all cryptos will rise to rule our financial system, might not be bitcoin or ETH but crypto will be around for a long time and will reshape many things in our life for the better.

>>3251459
Gold is useful in making electronics though

>DUDE stop buying de centralised currency LMAO

Max Keiser Vs Petter Schiff

https://www.youtube.com/watch?v=J0c69mtdtUI

By now bitcoin and altcoins are so established that any crash would be bought up instantly bouncing it back up to new highs.
And we will have many real life uses for these coins in the next years apart from buying drugs online.
>>3252175
This
Individual coins are fragile right now, but the market as a whole will continue to grow.
Most people who start getting into cryptos are convinced this shit is just a huge bubble. But as you dive deeper into this world you realize it's the future. And businesses realize it as well.

>>3252075
>Ethereum has no value
Not true. It can be used for smart contracts.
The capacity to bypass legal necessity to enforce access to a service is incredibly valuable.

>>3251565
People care less and less about physical objects as we continue to move into a virtual world. we can see more amazing things through a screen- nobody will care about a shiny piece of metal in the future.

>>3252175

>changing already existing markets that have no incentive to change

Seriously, Netflix changed things because people are too lazy to get up off the fucking couch, not because it's ON THE INTERNET. What problem is being solved by any of these fucking coins?

>>3251399
haha Peter Schiff

>>3252380
Espers on YoBit sir can host websites on the blockchain

>op the fag cant make his own decisions
>instead listens to people that have ulterior motives when they speak to the public

the same washed up shitty argument has been repeated every day since bitcoin hit $10
kys

>>3251399
>doesn't understand why we use gold and foundation for currency
>doesnt understand how the blockchain works and why crypto has intrinsic value

Stay poor or do your own research instead of letting others decide your opinion for you.

>>3251711
>4 transactions per second
>need to have half TB of blockchain on your HD just to pay for some weed
>revolution
Masters degree here, bitch.

>>3251399
Everyone knows this already...
Doesn't mean you can't make money out of it before it pops.

>>3252331
Enjoy the ride while the government stays silent collecting the lists of people who ignore federal law behind things like profit from capital gains you may not pay or transactions not reported. Tier 1 blackmail for them.

Let's ignore that though because it is too scary to think of.

Cryptos are a lot like research chemicals. Unregulated, free, no bullshit involved. Then the games are played and the wild west days come to an end. Don't ignore the incentives that people have to use bitcoins, you know what I mean.

>>3252380
They changed /biz/, because they have intrinsic value for the meme-economy

memeconomy

If Peter Schiff knew anything, he would have gotten decent hair plugs.

roll

>>3251640
Every human activity is pulling wool over eyes to you tinfoil FUDers. You're like Freud with sex or Marx with rich people. Too dumb to comprehend more than one dimension to life.

>>3252075

Bad analogy, in your example banks who bought "worthless" mbs backed paper ultimately got bailed out, so they were hardly bagholding in the end. It was basically all reward with minimal or zero risk. Btc and cryptos are different, there is no bailout, at least not until the big banks join the party.

Also why are you denouncing people who bought btc at like $50 or even $100? They can cash out now and enjoy huge gains. How is that worthless? Without a time frame, saying "x is worthless" or "x is going to $5000" is pointless.

And also, how loud would schiff be and how hard would he beat his chest if gold was above $4250? He's been calling for $5k gold for years and goes nuts when it breaks above "key technical levels" of $1300 when it was $1900 years ago. Pretty pathetic

Why are stocks valuable then?
You could argue people only buy stocks in hopes their prices will go up some day.

>>3251493
i love this comment

>>3252574
Companies hold actual physical fucking assets like land, buildings, machinery and general means of production.

>>3252674
Well, coins are used for stuff too, you know? Bitcoin, for instance, is used everyday by millions of people. Only old folks and low IQ idiots think BTC has no use.

>>3252685
And what are you using it exactly for..?

>>3252380
>no incentive to change
I'll name a few.
>Replacing requirements for trust in authority with automatic verifications from an autonomous system
Cuts out bank costs. No need for workers, customer support for banking, legal bodies for contracts, debit card services. Cut out the middleman by allowing the users to run the system themselves.
>Reducing fees to use systems by distributing workload over the network of users
By removing the need for and cost of those institutions, the cost to run the system is far massively reduced. Therefore the cost to use the system is comparatively reduced.
No bank wire fees. No paypal/etc taking a chunk out of vendor profits.
I mean it's not completely free. People need an incentive to run the chain. But the ease and comparably low cost of running the chain do make up for it.
>Worldwide accessibility
You can send money to and from anywhere you have the internet and can run a program.

The only problem is a need for a fiat gateway.
Jobs currently only pay in a countries' currency. Countries only accept debts in their own currency as valid and enforceable.
Debt is seen as an absolute requirement in modern times, due to the insistence of having a home and mode of travel before having the ability to pay for them in any capacity.
Functionally hosting debt on a blockchain system is currently infeasible.
And society is not yet automated enough to function without the work that debt enforces upon people.
That's really the only reason fiat stands so strong.

>>3252695
Buying stuff on fucking Amazon? My god, normie, get outta here.

>>3251498

This so much.

You're fucking dumb, you don't understand the vision of Satoshi, the value is based on, not just market sentiment, but the electricity you use to mine. It removes the middle man, it makes total fucking sense. And blockchain technology will revolutionize not only our economy but all information systems. I like Schiff but he's a fucking dinosaur, and you're a fucking idiot

>>3251399
>you make money only by generating hype and bringing more and more suckers in
>Just watched the recent Joe Rogan with Peter Schiff and now all my money is out of crypto and into gold.
really makes you think
nice argument, faggot

OP stay poor wagecuck

I'm don't know, but BTC and the others criptos, are commodities and same that if the price down much, don't will disappear. One exemple is at Skins in Games how CSGO, one knife with price of 2000 usd...

>>3251399
I agree with you, but I see no reason why crypto would crash before fiat. And I don't expect fiat to be worth zero anytime soon.

>>3252776
Nice English, dude.

>>3251399

Why should I care; I took out my original investment and I the reward to risk ratio is totally asymemetical; If the market gets wiped out tomorrow, I loose all my speculative profits which will be a bummer but if I keep making the kind of gains that I have been making, I can make a fortune.

Peter Schiff is an expert on how to get paid to spread FUD on tv. So he predicted the 2008 crash? How much profit did his massive short positions make him, then? Jack shit? Why isn't he a multibillionaire already from shorting all these things he talks shit about for a living?

>>3251399

and what makes gold valuable? nothing except what people perceive its value to be, and for some people thats rare shiny things

how long has shiff been predicting economic collapse btw? decades?

>>3251950
>Bitcoin's usecase is perfect for the IRS!
AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

>>3252722
Last time I checked there was no "Checkout with Bitcoin" button over there. I really doubt that double conversion of fiat->btc->fiat with some kind of side app is a smart idea..

>>3251565
>Gold has huge utility in being a visible show of status
Because gold has been around for centures
>whereas nobody is going to fuck you if you staple the drive with your bitcoin wallet to your clothing
while cryptocurrency is in it's fetal/early baby stages
Stop making retarded arguments

>>3252741
>It removes the middle man
>15 fucking dollars fee for miners to verify your transaction

Also Peter is right that bitcoin itself might have limited quantity, but nothing limits the creation of new crypto that replaces the old crypto due to popularity and new features. This entire market has unlimited inflation.

>>3252819
>nothing stops people from making new alloys with shiny new colors! gold has unlimited inflation

>this coiner delusion

all bubbles pop kiddo you just never seen one

>>3252870
What shiny new alloys you stupid fuck? There are few precious metals on the periodic table and that's it.

Also, I'm not arguing that gold is the future because it will be completely BTFO by asteroid mining.

My point is that cryptos are speculative garbage and at the end of the speculative chain the ultimate fool won't be able to find a greater fool to sell his cryptos to.

>>3252870

This so fucking much. Makes me angry when I hear schiff parrot this retarded line. He was yammering on about how "ANYONE CAN CREATE A NEW BITCOIN AND CALL IT SUPER BITCOIN AND THEN YOU WON'T KNOW WHICH COIN YOU'RE BUYING HURR DURP"

>>3252819
Tell me how much of a cut paypal takes from its vendors.
Something like 5%?

Bitcoin's fees are only high on low cost transactions. Because they charge by the memory size to add the trade to the block.
Large trades are much, much cheaper in percentage.

Imagine if miner fees were paid in percentage instead. NO ONE would trade any high value. Low value trades wouldn't pay miners enough for the electricity used. Miners stop mining, trades build up, blockchain stagnates, usage disappears.
Having it based on memory cost is far more stable and sustainable. No matter how much it sucks for small transactions.

One way to fix the cost would be to allow small transactions to be handled by another chain. One much less computationally expensive and faster.
You could even have a decentralized exchange automagically convert the two based on market prices.
Boom, dreamland.

>>3252915

Just because some pajeet creates a new coin doesn't mean Bitcoin (or "other useful coin x) itself is "unlimited"

>>3252935
>just using IOTA instead

If people want low transaction fees they should use IOTA or Stellar Lumens

>>3252776

sarcarsm ?

>>3252944
Popularity and hope are a very fickle mistresses. And they don't give a fuck about your mathematical principles and white papers.

They fucked dot com and they will fuck you too.

>>3252870
is this guy for real?

Your analogy is embarrassing to read.

>>3253025

No, you're the faggot

Bitcoin is not the same as all cryptos

Bitcoin does in fact have limited inflation.

Anyone can create a new shit coin. That doesn't make Bitcoin any more or less valuable.

Anyone can paint a copper coin gold. That doesn't make gold itself more or less valuable. Retard.

>>3252429

As long as the gov protects my money I'm okay with regulation.

>>3251399
so is a dollar but thats how currency works

>>3253099
But the new shitcoins DO have more features and are faster/more scalable than bitcoin. Your painted copper coin analogy falls flat.

>>3252024
Having 400% gains in 6 months in the stock market is close to a miracle. Go to goldman sachs an they will hire you in an instant

>he unironically thinks (((Jewerly))) is real money and superior to fiat

>>3253099
Inflation..? Bitcoin was created with negative inflation in mind. This shit basically can't be used as a currency. The only usage for thing with deflation is just accumulation.. which is pretty much what we're seeing right now.

>>3253121
They cannot really regulate any system that doesn't require identification though.

>>3253186
You're missing the point of that analogy. Hell, you're missing the point of them all.

Those new coins with new features are like copper or silicone. They have value and use of their own, completely separate from gold.
Painting copper gold would be like calling an entirely new coin Bitcoin2. Sort of like BCC, but with a brand new empty blockchain.

He's saying that other things can do what gold can do.
They can shine, they can conduct electricity, they can be put on teeth for nig culture. It doesn't HAVE to be gold that does these things.

All of its use cases can be replaced.
So its value from being finite is only relevant to its usability as a store of value. As all other intrinsic value can balance out against other materials in a free market.

>>3251399
I like Schiff. I've read three of his books. But he's wrong here. He doesn't understand the tech behind it. And he has vested interests, as his firm sells gold. What you should do is pull all your money from stocks, put 10% in gold/silver and the rest in crypto. Then after the next market crash/recession throw like 50% back in index funds

>>3251399
>It is digital fiat. And it is not valuable, no coin is valuable. You only make money from crypto because for now, some greater fool will buy it for a higher price. But it won't continue forever. All crypto value eventually goes to zero, just like all fiat.


Just like gold.

>>3253327
It's not apples and oranges. Better shitcoins actually make bitcoin obsolete.

>>3252696
why cant governments accept crypto to pay debts?

>>3253389
>governments accepting taxes in currency they cannot control and is volatile as fuck
Not gonna happen in this universe.

>>3251399
Idiot. Peace out Faggot.

>>3253363
They absolutely do. The second you can pull all the users from bitcoin onto them.

Dedicated calculators are also obsolete because computers can replicate their functionality in full.
Super Nintendos are obsolete because computers can now run, with cycle accuracy, their entire routines in full.
Does this devalue them? Somewhat, sure. For their use cases. But not for their perceived value.
They're still capable of doing their job, and SNES are finite too. So people buy them.

Bitcoin is still currently capable of doing its job, for now, and certainly finite.
Despite being technically obsolete, its previous market value and behaviour keep its perceived value high.

So it holds on, just like gold does despite replacements for all of its actual, non-security, use cases.
Especially since it is so accessible.
You don't need physical access to it. You're not locked behind 'promise' of value from using services like >>3251916 to avoid needing physical access.

Bitcoin is not gold.
Bitcoin is not fiat.
Bitcoin is bitcoin.

I feel sorry for you little brainlets who are unable to accept new ideas. Not everything is one of the old options, sometimes something is something completely new.

>>3253593
I agree. But you have to draw parallels to explain behaviour in ways people already understand.

>>3253576 continued ramblings SAGE
You cannot take all the users off of bitcoin in favour of a replacement until bitcoin itself becomes unreliable. It has to slow down to a stop for any such switch.
For it to slow down, miners would need to stop. Which means it would need to be either unprofitable, unfavourable, or completely blocked.
For it to be unprofitable, its market value has to be lower than the cost to mine. For it to be blocked, ISPs across the entire damn world would need to prevent the miners any connection to the blockchain.
To be unfavourable, you have to dangle superior mining options in front of them. Like BCC for ASIC, or Monero for the general population.

BCC and segwit's combined fragmentation of the blockchain is very dangerous to the stability of BTC's ability to continue.
Both sides are doing a damn good job at trying to end bitcoin as a whole in favour of other coins. But it is not yet successful.
Fighting faith in Bitcoin is like fighting faith in gold. It is to, pardon the word choice, memetic fail.

>>3251399
You forgot to mention Schiff accepts bitcoin for gold towards the end of the pod

>listening to boomer gold shills
Schiff's been saying this since bitcoin was $100. By all means follow his advice.

i like schiff and have done since before bitcoin was a thing but he's 1000% wrong on crypto and i think he's just too old, wealthy and prideful to admit defeat desu

STUPID COINERS HAVE NOTHING ON US BOOMERS, CHECK OUT THESE GIANNNZZZZZZ

>>3253576
>he fell for the meme that Bitcoin is technically obsolete
Bitcoin has a bigger responsibility than just transmitting value, and that is to create a network that has value in and out of itself. You can have fast and easy online payments with Paypal and Visa too, the real value is in the independent and decentralized nature of the network.
Higher transactions per second will arrive very soon anyway, your problem is you are all noobs with the patience of a toddler and the attention span of a goldfish
I suggest you stop browsing plebbit and start listening to this man:
https://youtu.be/DXLZSgf4b8Q

>>3251399
wtf I hate bitcoin now

>>3253389
Because they cannot issue it.
If they could issue it, they could create the debt. Say 'Here's money, pay me back', and enforce it through social or physical means.

Debt requires an institution which can hand out currency on demand.
To be able to hand out currency on demand, you either need a LOT of fucking money, control of other people's money, or the ability to create money on demand.
Consequently, the ability to create money on demand leads to both control over people's money and the ownership of a lot of fucking money

Crypto, by large, removes their ability to create money on demand.
And there's no need for a deposit service when users hold their own wallet and keys.
The only way to acquire and hold other people's money, to lend with, would be the original bank benefit that crypto generally doesn't (And doesn't need to) cover. Positive interest on holding.
But you would need a lot of power to make enough users give up enough money, in trust for more, to sustainably run a lending service while keeping safe from full withdraws.

Banks could certainly create their own blockchain, mine it themselves, and back it with USD.
But that would require trusting that bank to hold its promise on that value, which they can create out of thin air.
There's already a coin that does this. Fucking no one wants to use it, if at all possible.
The ones who run it would be in legal HELL if they tried to loan it.

Since they cannot get in reliably, especially at the volume USA demands for debt, they cannot accept it as payment.

>>3253821
That comparison would hold if it weren't for the fact that the bilderburg group /blockstream will take a huge cut out of miners fees once the lightning networks is in effect. This gives them a lot less incentive to maintain the network over BCC

>>3251399
Same faggot who would have said that FIAT papers would never be trusted like gold among the population, back when fiat was created

>>3254237
>That comparison would hold if it weren't for the fact that the bilderburg group /blockstream will take a huge cut out of miners fees once the lightning networks is in effect
Wrong. Anyone can open a payment channel, you, me, miners themselves. You can choose with whom to open a payment channel. It isn't any different than choosing on which exchange you will trade your shitcoins (actually it is a lot less centralized than that), but you don't go around saying that Poloniex controls the network and are the jews trying to subvert BTC.
>This gives them a lot less incentive to maintain the network over BCC
The interest of miners is to follow consensus, i.e. to follow users. Jihan has tried to exploit the coming swarms of noobs to create little delusional robots who would follow the consensus made by him and Roger instead. He's probably smart enough to realise that can only work for a short amount of time, reason why they coded BCH to act as a literal pump and dump to steal BTC from brainwashed NEETs

>>3254148
>the original buy high sell low

>>3254169
The thing is, most other coins do this as well. Several of them feasibly better than bitcoin.
It is obsolete from a technical, intrinsic standpoint.
That does not make it obsolete from the very use you're describing.

>>3254237
Sort of. I would compare it to work at a fast food restaurant, actually.
You have one person both running a register and making sandwiches.
You could just open more stores, and still have one person running each.
But lightning network adds a person to run the register in the same store. Translating and processing the orders together so they're easier to work with, so that the cook doesn't take so much time making the sandwiches.
It's technically more efficient, using the same amount of people.

>>3254392
Actually I take that back.
It's also like installing a kiosk register the customers enter shit in on themselves. Since users should be able to run LN channels.

>>3254392
>The thing is, most other coins do this as well. Several of them feasibly better than bitcoin.
Not really, they don't. There's no actually decentralized coin out there. Some promising attempts but nothing significant so far, unless you want to make examples instead of speaking vaguely about things you clearly don't understand.
>It is obsolete from a technical, intrinsic standpoint.
That is wrong too. Why do you think all those shitcoins are adding Segwit and LN that was made by Bitcoin devs in the first place?
There are coins that serve a certain niche, but from a technical aspect none of them are superior to Bitcoin. Unless, again, you are going to make examples instead of parroting shit you read on plebbit

>>3254392
>But lightning network adds a person to run the register in the same store
YOU DON'T NEED THIRD PARTIES IN LN TRANSACTIONS,
HOW MANY TIMES DO I FUCKING NEED TO SAY IT BEFORE IT ENTERS YOUR RETARDED LITTLE BRAINS?

>>3251399
gold has no inherent value too other than "hurr durr is pretty".

>>3251399
good look sending your shiny rocks through a cable

>>3251399

Cool story gramps, good night

Peter Schiff is a hook nosed con-man. He has been betting on government failing his whole life. His entire plan was that everyone would move to gold from fiat currency. Now he is shitting his pants because crypto is becoming so popular and his entire plan will fall through if people move to bitcoin instead of gold.
He is the epitome of the butthurt salty nocoiner.

>>3254557
limited supply, doesn't erode, divisible...

>>3251399
>Crypto is not digital gold, it has no value as a commodity.
Gold is immobile as fuck. Even at small amounts.
Try moving 50k$ worth of gold lets say from Europe to China or India via public airline.
Good luck.

>>3254808
>what is the gold standard

Crypto FUD won't push your sparkly metal's price up - we buy things online, we don't load a wagon and head to town.

>>3251640
>There are guaranteed to be people from /g/
true.
It all started on /g/

>>3254823
death
it doesn't exist.

Gold is fucking useless compared to Bitcoin.
very easy for the government to take it away from you if you move significant amounts. Sad.

Also, chinks are flooding the markets with fake gold bars and coins which are hard to detect for normies.

>>3254744
*LUCK FUCK

>>3254218
>they can issue it
they can acquire it easily though

>>3251399
i will never buy gold just because i hate goldbug faggots like you so much. fucking die faggot

>>3251399
Excellent FUD.
Sick dubs.
10/10.

>>3251459
>satoshi steals all bitcoins
>Bitcoins are suddenly worthless

Why would he do that?

>>3254302
>>3254302
>Creating two coins is a pump and dump
Anon I don't think pump and dumps involve creating a coin

>anyone can open a payment channel you, me miners themselves
Why would the miners open a payment channel? We have established this to be less profitable for them to do so. I said nothing about Jews, and this is different than exchanges, as there are exchanges that are attempting to move further from centralization, while the off chain transactions will likely lead to centralization unless this technology can be demonstrated to be more decentralized, which it hasn't. You could argue that btc was/is already centralized due to the fact that a few companies are responsible for the majority of mining and maintaining the network. I just think that block size increases should have been prioritized over off chain transactions

>>3254891
>portability of fiat is just as high as crypto
objectively wrong. let's ignore money has a PHYSICAL FORM for a moment, and just talk about the digital dollar. the least-hassle way to transfer cash is to use paypal, but its fees are astronomically high compared to cryptos, it's slow, it has problems, oh and YOU HAVE TO FUCKING USE PAYPAL. other options like western union are even slower, more expensive, and the only benefit is that it's more secure for sending high amounts.

I think the retarded OP is confusing BTC with BCH lmfao

>>3252075
> Monero shill detected

I ain't selling my crypt to you Mr Shekel stein.

>>3251399
Lmao. You are delusional X)

>>3255175
>Anon I don't think pump and dumps involve creating a coin
you are clearly too much of a brainlet to understand why BCH is a pump and dump. After all, if you did you wouldn't be holding it.
>We have established this to be less profitable for them to do so.
It doesn't matter, because with BTC's price going up thanks to the fact it can now to both microtransactions and big transactions its value will skyrocket incredibly. If it stays like it is now, it would be Paypal 2.0 (marketcap overcome lately) which means it wouldn't grow much more than now.
>the off chain transactions will likely lead to centralization
Off-chain transactions do literally the opposite, and you keep repeating this blatant lie either because you are an ignorant moron or because you're a paid shill. Whatever that is, repeating this lie over and over again won't make it true.
>can be demonstrated to be more decentralized
It is more decentralized than the alternative, which is to raise the blocksize. It also a lot of technical advantages in general, while having virtually no downsides.
>I just think that block size increases should have been prioritized over off chain transactions
There's literally no reason to believe that, especially if you think mining and network "mantainers" (I guess you mean businesses and exchanges) are already centralized.
Development isn't centralized at all btw, you can pretty much find literally nowhere a more decentralized development team than Bitcoin Core developers, and if you think otherwise it just means you're a normie who's never coded anything in his life.

>>3251399
> crypto is literally no better than a ponzi scheme
When politicians will realize they won't be caught for taking bribes that shit will moon

>>3255545
>BCH is a pump and dump
Explain instead of insulting why it's a "literal pump and dump" as you state.

>Off-chain transactions do literally the opposite
They are intended to do the opposite. Correct me if I'm wrong, but the idea behind the lightning network is to do off-chain transactions for micro payments or small payments, and larger transactions are intended to remain on chain. The issue then would be why wouldn't larger payments use off chain transactions if they are cheaper. In theory, you'd want to use an existing open payment network. However, the larger the payment, the smaller the potential pool of users in an existing network that have the funds to "push" the transaction through. I don't see how it's too far fetched for the possibility of an exchange or an entity with a lot of btc to spare to create an off chain pool or network of users, which would be the proverbial third party and centralization stepping in. While theoretically you could create a 2 person off chain channel, it's not going to be the bulk of off chain transactions. You complained ITT about normies not understanding the tech. Tell me, do you honestly think that those who are competent enough to make a transaction with another user sans a third party are going to make up the bulk of transactions? That's what I mean when I say it hasn't demonstrated decentralization. While I did mention that I think miners maintaining the network is more centralized, I think it would be safer than to trust a system which financially disincentives miners. Who knows, the BTC core of the future will be sustained by third parties that are hubs for off chain transactions and operate miners to maintain the network.

>>3251399
Whenever some wall street fag says "x is worth 0" I know is full of shit. It's pretty fucking hard for something to be worth exactly 0. Like that idiot who shorted herbalife and then the stock doubled. It's such a stupid premise.

>>3255032
Yes they can acquire it, directly. But they would not benefit by accepting crypto to pay debt off.
Accepting USD supports the creation and use of USD. By giving it faith through backing it, giving it a direct use.
Supporting crypto, on the other hand, does not work to hold faith in any fiat.
Since any currency not issued by them cannot reliably support their system of debt, they cannot support the continuance of it through them.

It would devalue their returns by devaluing their system.
They would only accept crypto once their fiat is forsaken.

>>3251399
"Investing" in commodities is laughable. Remember it's just speculation.

Hedging with commodities/crypto or pump and dumps aren't a bad idea, but to think of either as an investment is just like saying you are investing in the US dollar.

Also, Peter Schiff is a broker of gold, and will sell it to you at a fee, he doesn't really care if gold is $1200 or $12000, however upward momentum creates more business for him.

>gold and silver are great investments
>the price is 1/25th, 1/50th, 1/gorillionth of what it SHOULD be
>there's way more physical gold than paper gold, do you know what this means?
>when everyone with easy-to-store, easy-to-trade paper decides they want shiny metal, you'll be rich
>this will happen as soon as the governments stop devaluing, meaning the governments have failed and chaos reigns
>the price of physical gold doesn't already reflect this because ...
>this is a secret between you, me and anyone who googles "Gold"
>so buy this gold/silver/whatever, you'd be a fool not to
>why am I selling it? Because ...

>putting your money into intricately designed pieces of paper
>exchanging those papers for ones and zeros representing how many paper you have
>exchanging your ones and zeroes for a piece of plastic with raised lettering
>trading your raised lettered flat plastic for a signal button on your touch telephone

how long before you realize that your money doesn't exist anymore

>>3251399
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

>>3256740
YoBit ESPER$ are worth $0

Thanks for the heads up OP. let me tip you 3.576 gold. Just have to go the goldsmith to cut it. Give me your adress and ill mail it with USP. Might take a couple weeks if you live in the US. Transaction fee (5 gold coins) will be on you tho

>>3251399
Schiff is a jackass. Did he say that he'll take Bitcoin off your hands in exchange for gold? Because he will. He wants to get rid of a metal whose price is suppresssd by (((them))) and pad his own pockets with Bitcoin.

>>3256698
>Explain instead of insulting why it's a "literal pump and dump" as you state.
It's meant to take your BTC and give you worthless shitcoins in exchange. It's built with the purpose of temporarily slowing down BTC transactions to convince brainlets that "le blocksize must be increased" so you'll exchange your BTC for chinacoin. BCH literlly can't survive on its own in the long-run, with or without BTC.
>Correct me if I'm wrong, but the idea behind the lightning network is to do off-chain transactions for micro payments or small payments, and larger transactions are intended to remain on chain
Holy shit you are fucking retarded. Instead of typing all this retarded drivel why don't you actually learn how the LN works outside of the r/btc ecochamber?
Off-chain transactions are still validated on-chain, the difference is that happens in a bundle when the channel is closed, instead of doing it for every 2 dollars you send to buy weeb videogames from steam.
Larger transactions can use the LN if they want, but after a certain sum people would be incentivized to have their transaction validated immediately.
>I don't see how it's too far fetched for the possibility of an exchange or an entity with a lot of btc to spare to create an off chain pool or network of users, which would be the proverbial third party and centralization stepping in
This is so fucking retarded. I guess everything's already centralized then, considering literally all in-exchange transactions already happen off-chain and most funds are kept in cold wallets. You're fucking retarded m8. You can literally apply all your dumb excuses for shitting on the LN on on-chain transactions and Bitcoin itself, literally no difference.

>>3251399
You just got fucked by Peter Goldburge

>>3256698
>. Tell me, do you honestly think that those who are competent enough to make a transaction with another user sans a third party are going to make up the bulk of transactions?. Tell me, do you honestly think that those who are competent enough to make a transaction with another user sans a third party are going to make up the bulk of transactions?
Opening payment channels will be easy as fuck and integrated into the wallet you fucking moron, therefore yes. LN is literally working in Testnet, why don't you fucking try it instead of repeating astroturfing propaganda like a retarded moron?
>That's what I mean when I say it hasn't demonstrated decentralization
Just like with Segwit, shitcoins are starting to implement the LN. So you'll see first-hand how good it works. Or you can fucking try it in testnet where it demonstrably works. You are the usual retard who doesn't undestand how things work and goes "hurr durr this isn't possible because it's not on the apple store yet".
>While I did mention that I think miners maintaining the network is more centralized, I think it would be safer than to trust a system which financially disincentives miners
It doesn't take away their incentives, they still earn a fuckton of money. They are still mining blocks. Miners don't only earn from transactions you fucking moron and they certainly aren't going to stop mining the fucking international digital gold standard because 2 dollars transactions are validated only after a payment channel is closed.
>. Who knows, the BTC core of the future will be sustained by third parties that are hubs for off chain transactions and operate miners to maintain the network.
Again proving you are literally mentlly incapable of understanding the simple concepts.

Fuck off Pajeet

lol what an idiot.

the majority of the economy is empty speculations and people fucking over investors to get rich.
there is no such thing as hard rock money, other than gold. and people can steal your fucking gold - more easily than every other thing

>>3251565
Gold is a show of status because it has value, not the other way around.

You retard, the purpose of crypto isn't to be backed by a commodity. But go ahead and miss out.

>>3257965
Money exists as a certificate of work and a means to repay debt.
It must exist as long as work is required and people demand to be indebted. Even if it exists only as an entry on a ledger.

I personally look forward to crypto popularity in common use. The deflationary nature and functional replacement of debit FUCKING MURDER loans. They simply cannot survive against it.

Hypothetically, one could take a loan, shove it in crypto, and out earn that loan while exchanging back just enough to pay it off.
Obviously that's fraud of some sort and bound to get governments on your ass. But all parties involved profit. And it is absolutely hilarious.

>>3251399
>Bitcoin is bad because you must convert it to money before buying.
>gold is good because you can convert it to money before you buy.

Is this old fuck retarded?

> people actually hodl godl

>>3251399

It's another episode of "Rich People Purposely Giving the Masses Bad Advice"

Last episode with Warren Buffet was great!

>>3251640
>Puts the entire amount in ETH instead
The Madman.

>>3251771
youre just some larper trying to be funny right?

What are they going to use to take it from the US Government? No president would ever accept we cant pay our debts a huge black mark on their career and no single trade ally that would even consider demanding things at threat of war.


As long as everyone's worried about our weapons no one can touch us.

>>3258568
I hold a fair amount of Au and Ag. I used to listen to kooks like Schiff who keep saying that the dollar collapse is imminent and that PMs are going to be worth a fortune, and that it's all right around the corner any day now. Well he kept saying that for years and years and it never materialized. PMs have barely moved in ages.

Meanwhile, crypto has been on a rocket straight up for several years now with no signs of slowing down. I could see which direction things were going so last year I finally hitched my wagon to the crypto rocket instead and stopped buying PMs. My PM investments have been totally flat for over two years now. Meanwhile I've seen over 1000% gains from BTC and ETH.

If I had listened to Schiff, who has been saying this whole time that the crypto bubble was about to burst, I'd have missed out on huge gains. Maybe when Peter Schiff is right for once about something I'll start listening to him.

>>3251399
This is the gayest shit

>>3253342
but when is that crash coming?

We edge the next age of humanity and these idiots fear leaving their shiny rocks for a universal digital currency.

Of course we'll need a few good years of peace and avoiding this war brewing with north korea.

>>3251399
(((Peter Schiff)))

>>3251498

Can someone pls explain what he meant by this? How is cryptocurrency affecting retirement and medicaid for boomers?

>>3258413
>Hypothetically, one could take a loan, shove it in crypto, and out earn that loan while exchanging back just enough to pay it off.
You will literally be able to do it very soon with SALT

https://www.saltlending.com/

https://www.youtube.com/watch?v=ken4CBBrMPA

Yeah true, but I'm still gonna ride the wave while its still going.

>>3251399

>(((Peter Schiff)))
>literal descendant of communist jew who funded bolsheviks
>makes his money selling gold
>bitcoin directly threatens his livelihood

wow yeah solid argument OP. I guess I better get out of of cryptos now

>>3251424

lol underrated

>>3258979
Oh dear. They provide the service of giving out fiat for simply holding crypto as collateral, and allow you to profit off of rises in that crypto?
That's even better than just holding it all in crypto yourself and exchanging back minimal amounts for monthly payments. Like I was talking about.

Shove your crypto (Bought on loan LOL) as collateral into a loan like that and you even get fiat to use in the meantime.
Sure, the price of the crypto then has to out-earn TWO FUCKING INTEREST RATES. But it deposits the input value of fiat into crypto. Exchanges make enough on commissions to out earn the move in position from crypto to fiat.

Everyone involved hypothetically gains fiat value from thin fucking air.
Talk about a fiat self destruct. Like seriously.
I want to say there's no way the people backing fiat would allow this. But they allow fractional reserves and usury in the first place, so I don't have a clue.

This Untermensch thread is still alive?

>>3251399
Why not have both? Eggs and baskets.

>>3251399
i have been watching peter schiff and ron paul for years.... gold is the only thing that holds value.... bitcoin is just a modern day ponzi scheme , that will only hold value if the market has confidence in it... just like the US dollar .

>>3251399
lol literally the entire podcast sounded like a commercial for bitcoin. he is so clearly guided by other incentives it isn't funny. all of his talking points are bitcoin talking points yet he doesn't think bitcoin is the answer.

>>3258649
lol

>>3251399
>IMMEDIATELY making big financial decisions because a jew who owns his own gold company whose success is determined by you buying gold told you to ditch cryptocurrency and buy gold

Wew.
Gold is good, so fuck anybody going "hurr it's just a shiny rock" like >>3251429
But crypto is not "nothing" you gullible faggot.
>tfw I'm holding both

>>3259752
Old fucks stuck in their old ways and unable to see what's actually going to happen in the 21st century
The same old fucks said Internet would never be a thing. Now the majority of the western population spend two hours minimum a day using it... just for recreation. Let's not forget all the vital ass services using the Internet

If you seriously listen to these senile old coots, when they are dead as fuck you'll be having a near suicide call mid like crisis because btc is worth 150k and yoire a broken ass fool with some shiny metal

Get with the fucking future or get left behind

>>3252223

not as useful as so many laymen claim. silver and copper are fine. it will be superceded by new technology as a conductor inevitably

>>3251399
>takes advice from karate man

leddit faggot

>>3252810
centures... maybe even longer!?

>>3254148
niggaz be slippin' yo!

>>3252380
I recommend everyone watch this video. It clarified a lot of this for me.

https://blogs.cfainstitute.org/investor/2017/06/20/blockchain-101-with-campbell-r-harvey/

Simply put, blockchain technology has value because it has the potential to reduce transaction costs. The entire world abandoned the gold standard because in a growing economy it became prohibitively expensive to move around a shitload of gold all the time. Before that, gold had replaced barter economies for many of the same reasons.

>>3260097
Correct.
The fact this particular senile old coot recommends the gold standard shows that he's already a century behind real economists and financial analysts.

>>3259752
Intrinsic value only acts as a floor for assets. A number they cannot go BELOW without being bought out for their actual use case.
And gold's intrinsic value from non-speculative use is actually very low, despite being finite. Because all of its actual use cases can be covered by other metals. Shiny, conductive, malleable, soft, heavy, etc. Every property has other materials that can replace it for use.

Bitcoin on the other hand, has intrinsic value as a public ledger of trades.
You could say the coins themselves don't act as a ledger of trade. But their use pays to run the system which makes it possible.
While bitcoin technically can be replaced by another coin entirely, only bitcoin can record its own ledger.
So as long as bitcoin holds its value in trade, it holds its intrinsic value of tracking those trades. A self feeding 'cancerous' system of value. It can only grow, and out of control at that.

Also, drop the ellipses. They make you look unsure and retarded.

>>3251476
>mfw he cashed out right before a megapump

>>3260097
i do not care how old a person is. i care if their point is valid... you can take your bitcoin and trade it for magic beans when you figure out that its only valuable because people can be fooled....
Get whipped when the bubble burst on your fiat currencies.

>>3258890
Most retirement funds are linked to the stock market nowadays.

If that goes belly-up the money vanishes.

>>3260479
Their point is not valid. Youre an idiot who cant think for himself and instead relies on rich old fucks that have been trying to destroy the market for almost half a century to tell you what to do

Enjoy getting killing yourself when btc is worth 6 figures and an Oz of gold is only up 5%

>>3260494

Thank you for breaking that down for me

>>3260432
You sounded smart until your second paragraph lol...
you are correct that tangible assets do have an intrensic floor.... but bitcoin is not an alternative....
because some computer engineers did some block chain mining, does not give digits on a network value....
THEREFORE it has no intrinsic value....
gold and silver have value because they are portable and can be used to exchange value between people....
bitcoin can be used in that manor, but has no value when you break it down.... if they want to make another block , they will just do it... they wont care if the value gets decrease....
if you have a ounce of physical gold on you.... it can never be reduced....

>>3260559
So what if some massive cache of gold is discovered, or we get to a point where mining in space is possible, and the market is flooded with gold? If the global supply of gold is doubled, do you think your oz of gold is still worth the same amount?

I don't invest in crypto because I have little confidence that improvements in the technology won't make previous currencies obsolete. We saw how quickly people turned from BTC to ETH simply because it has more capabilities. desu it sounds like you just don't understand supply and demand.

>>3260527
..."Enjoy getting killing yourself"...
...great grammar newfag.....
...enjoy have your 6x bitcoin .... after you realize you have the ENRON of crypto currencies...
.... you prob thought bernie madoff was a great investor too..... or rupert Murdoch

>>3260607
... i understand supply and demand...
but it sounds like your head is up your own ass...
go on thinking your bitcoin will be there after a market crash... if hackers dont get it all first....

>>3260608
>...great grammar newfag.....
>...enjoy have your 6x bitcoin ....

Ah okay, confirmed troll.

>>3260559 >>3260608 >>3260640
Please, stop with the ellipses. It's fucking painful to read.

If you would actually look into and understand anything about bitcoin, you'd know they cannot just make another block out of nothing. It's hard coded to be rate limited.
The system itself has to reach blocks through long, complex computations. It is cryptographically secure and guaranteed.
And changing anything about this takes more than half of the hash power. Which is a fucking LOT of computers and electricity.

You CAN reduce gold physically, actually. Chemistry is fun. You can steal it too, with simple brute force, but that's another issue.
It is also difficult to trade. The process of verification makes it inviable to accept as a vendor in physical form. It cannot be digitized to trade over long distances. So it's not useful as a currency.
Its only uses are in electronics, jewellery, and as an asset. It CANNOT, by itself, replace USD as a currency.

>>3251399
>he said nervously as BTC hit another ATH today

>>3251399
woah the jew that sells the gold says you should buy gold

Peter Schiff will literally trade his gold for your bitcoin.

>>3260608
>>3260640
see
>>3254148
The people you're relying on for advice demonstrably give horrible advice. They manage to do even worse than just holding onto inflationary fiat. You're free to continue listening to them of course but you're still a fool for doing so.

>>3251399
Didn't Peter Schiff short bitcoin at 4,000?
lmao

bitcoin isn't going anywhere anytime soon his old way is thinking isn't helping his cause when it comes to bitcoin.

>>3251399
Watch the Money Masters documentary on YouTube. The gold standard is not all its cracked up to be. Crypto is publicly auditable and has steady inflation.

Look at all the banker incest within tha blockchain..

http://dcg.co/who-we-are/
http://dcg.co/portfolio/

https://www.digitalasset.com/

They are blockchaining you to the wall and you love to serve them.

It is so sad to see you sell your souls right back to the ones that already own them.

BOW DOWN to your banker masters crypto herd.

>>3260836
With over 800 altcoins hyperinflation is guaranteed.

I thought all the bitcoiners said that bitcoin was deflationary?

TOP KEK you delusional faux priests.

Your lie is for you and you alone.

Go buy a lambo, buy some coke and put in on the dash, and go crazy with all those hookers.

What's stopping you?

Oh ya.....mass adoption by Greater Fools.

He is trying to con everyone.

He has big stakes around gold mining companies and is short bitcoin, why the fuck else would he really want you to sell bitcoin and buy gold?These old tricks that billionaires play isn't going well for them anymore George Soros even tried to short the whole market awhile ago, how did that work out for him? Big name billionaires used to be able to go on tv and tell people their positions and then everyone will blindly follow them. With so much access to information nobody falls for their bullshit anymore.

https://www.coindesk.com/bitcoin-bear-peter-schiff-doubles-even-4000-still-bubble/

>>3260753
no, he's selling bitcoin for gold

>>3261003
hes shorting bitcoin*

>>3251399
even if bitcoin wont last, people just want some quick $

>>3251853
ya fuck em

>>3261068
>>3260962
>>3260815
What exactly is your point? If he thinks bitcoin is going to go down, why exactly shouldn't he short bitcoin? He is putting his money with his mouth is.

Do you reject "buy" advice from people who hold bitcoin?

>>3261180
>What exactly is your point?
the only reason he is saying anything is to try and get the trades to go in his favor. Nobody should sell bitcoin because some billionaire told you to do and nobody should buy gold because some billionaire told you to do so. He is only going publicly about any of this because he is trying to con everyone!

>>3261338
> He is only going publicly about any of this because he is trying to con everyone!
Why are you going public about this? Are you trying to con everyone? Are you long on bitcoins?

>>3251399

The value of many of these coins will not go to zero. It takes electricity to mine and there are many people who want this technology to be the wave of the future, not just make a quick buck. This stuff has staying power, sorry Schiff.

>>3261338
You clearly don't study Alpha Theory.

When they move things happen.

I am guessing your Alpha is all the bankers pumping Bitcoin on CNBC right now?

Don't listen though cause Bitcoin will go up to infinity while the government fiats hyperinflate to death.

Then you can mark "x" on your California drivers license and live in utopia forever and ever.

That you can count on.

>>3252468
FACTS

>>3251399
>You only make money from crypto because for now, some greater fool will buy it for a higher price. But it won't continue forever.

You just described real estate and almost every other asset.

>>3251422
>>3251424
>>3251429
>>3251433
>>3251437
>>3251442
Holy shit, the sheer retardedness of the first six posts makes me think the OP hit a very truthful nerve. I think I'll stay a nocoiner.

>>3251399
>Just watched the recent Joe Rogan with Peter Schiff and now all my money is out of crypto and into gold.

This might be the greatest sentence I read all week.

>>3251399
If you're a gold-bug and not using crypto to buy gold, you're a retard.

>>3253342
And when crypto takes a dive?

>>3251640
I am in a similar situation as you with a job at a top company whose software you are likely using right now making almost $170k/yr in USD shitcoin

If my opinion matters, which it doesn't since no individual's opinion matters, then:

Once you understand the implementation, economic implications, and utility of crypto, you are in it until the ship sinks. OP is literally retarded sorry.

>>3252380
For finance, payments and wealth management blockchains is the biggest innovation since accounting and banking were invented in the Middle Ages in Italy

>>3251399
>falling for the gold shill

>>3251399
thx just sold 100k

>>3251399
Boomer detected

>>3254148

This one really gives me a case of the feels, because I was one of the idiots who followed clowns like Peter Schiff and bought half my gold around $1700. Here we are 4 years later and I'm probably gonna have to sell it at a loss to buy more crypto.

If nothing else, that market simply moves too slowly. I don't care about making gains if I have to wait 15 years for a bear market to reverse.

>>3263363
Anon sell your fucking gold now and stop being retarded

This chart says all there is to know

Bitcoin value is negative. Every coinholder will be rounded up, sent to labor counts and summarily executed. You have been warned.

Oh look, it's another one of these threads. Let's BTFO of no coiners yet again.
>It has no value
The only things that have intrinsic value are food and a place to live, and even then it's very relative. 99,9% of the things in the world only have value because people assign value to them.
Now, how do people assign value to something? There's certainly a lot of complex answers for this, but I can give you the most simple one: supply and demand, another very basic economic concept.
So why Bitcoin is valuable? Well, see above, it's valuable because there's a lot of demand for it and the supply is limited. The reason there's demand for it is also simple, it offers people an actually functional, new. secure and efficient way to store their money without a need for a middleman. Say to me how can I store huge amounts of money and send it to anywhere/anyone in the world without using banks or another middleman? How can I do that autonomously? Crypto is the only way to do It.

There's also other things that create demand for Bitcoin and crypto though. It's the most efficient way to evade taxes and launder money in existence and the most secure way to buy drugs or to pay for anything anonymously.

So there you have it faggot. Bitcoin has value because its supply is small and there's high demand for it.

>>3251498 amen brother amen

>>3261753
what did You expect? That we all get on the jew-wagon?

>>3251399
You can LITERALLY buy gold with Bitcoin

what now jew?

Like really, Bitcoin is more valuable than gold and diamonds. Because it's production is limited to 21mln (?), if I'm not wrong. That means that there are more diamonds out there than bitcoins https://www.gemsociety.org/article/are-diamonds-really-rare/

>>3251399

you could make this point about literally anything that has "value" apart from air food and water

>>3251399
it isn't digital fiat, it is deflationary. kys though.

>>3251837
lol

>>3252574
Are you trying to sound dumber than OP?

Schiff is right, but I don't care since crypto is a gainz machine.
Don't be delusional, ride the bull market while it lasts, but at some point you should cash out.

>>3251422
/Thread