/biz/ - Business & Finance

>converting back to fiat
top kek

>>4518288
this is just as foolish as those who say "my cab driver just told me to buy bitcoin! sell!"

This isn't a bull market. This is the transition to a new form of currency. Bitcoin isn't a stock. There is a capped supply. Bitcoin cannot split.


Fuck I'm done. People should pay me if they want to hear anymore.

>>4518465
Yep, this is a land rush. It’s 1542 and we’re all rushing to stake out some land for ourselves in this land called California. What will that land be worth in future?

If you hold BTC that’s the same as grabbing LA or SF. If you hold BCH, that’s like somehow ending up with detroit

10-25% less? That seems...high.

>>4518440
Is true. Rather you should collateralize your crypto and buy real world shit, whatever you can’t buy for straight up crypto.

>>4518288
HODL until I die motherfucker. I liquidated my all my stocks

>>4518288
In addition to the great points of >>4518465
and >>4518721 you're completely forgetting about taxation on your profits when you convert back to fiat. Absolute brainlet advice.

>>4518721
This. BCH is only good for a quick pump and dump!

>>4518721
I'm still very worried about the CME futures. The contracts are settled in cash and have nothing to do with BTC. It's like the power's that be are trying to create an instrument solely for shorting BTC. 2018 is gonna be ugly.

>>4518721
Detroit would be a great piece of land to buy if you bought it in 1542.

>>4518465
Would be the case if bitcoin had use or wasn't replicable with just copy paste or it was government backed currency.

For now, I would be sceptical at any moment if I were you. Your sad devotion to that ancient blockchain has not helped you conjure up the governments trust just yet.

Did I just enter a thread for sub-120IQ replies only?

Guess I'm leaving then. Have fun downies.

>>4518810
REALLY!?!? I'm going to move my family there right now!

>>4518824
>Would be the case if bitcoin had use
Bitcoin is a bank vault which can be accessed anytime anywhere with not a single person being involved except yourself. If you have more than $100,000 you can appreciate the true value of this.

>>4518845
Then try to build a house with it, run electricity through it, eat it, use it for energy.

It's not a commodity, it's just like fiat: proof that it was once mined and its transferable. Just like fiat once was backed by gold, bitcoin is backed by that it was once mined.

You can copy the code and make another one as easily as it was created. Its only the trust that we put in it is what gives its value.

If the government calls a ban on bitcoin, it's basically worthless.

>>4518897
>it's just like fiat
I'm done here.

>>4518897
You can access fiat anywhere yeah? Why would someone even give you any money for your random shitcoin?

>>4518964
>You can access fiat anywhere yeah?
Do you have zero understanding of history? Holy fucking shit.... You guys don't know what fiat is. I'm not getting paid to educate you so I won't.

>>4518897
>exchange currency only holds value as long as people recognize it
try and build a fucking shed with paper money I double dare you

>>4519001
I'm being sarcastic with him dude, sheeesh

>>4518933
Actually fiat is backed by the government, so fiat is definitely better.

>>4519023
My bad. I'm drinking.

>>4519024

>>4519019
I actually said that fiat is not a commodity, just like bitcoin.

>>4518800
The exposure that CME futures provides will be worth it. It'll also help to validate crypto in the minds of a lot of investors and ordinary people, the "bitcoin is worthless" crowd is easily swayed by the opinions of big names, and having massive groups like CME create a futures market helps to reinforce the legitimacy of it.

>>4519061
The problem is that it is settled in cash. What will happen if everyone just shorts it? It's an even better short position than Tesla. $800 to $8000 in one year?!?!?!

>>4519044
Yeah I'm retarded.
Regardless you could still cash out in another currency or in valuable market goods. Some of them aren't even illegal everywhere.
Stocking up on hrt meds is a profit on the long run and has significantly less risk of getting narcs on your ass.

>>4518838
Retard

Would short sellers on futures contracts actually scare away anyone?

>>4519136
Invest in blockchain knowledge for now, it's gonna pay off immensely after a few years.

>>4519161
FUTURES ARE SETTLED IN CASH

Think about this and realize that the ONLY thing people will do is short. CME has absolutely no requirements to hold BTC.

Guys you have to understand this. The futures trades are designed to allow banks to short BTC. That's literally the only purpose.