/biz/ - Business & Finance

Crypto is a scam, what else is new? Doesn't mean you can't make mad cash shorting this shit to the ground.

>>9800516
Fag probably gonna kill himself when crypto becomes the backbone of the entire world

>>9800541
I guess that means he has a long full life ahead of him.

>>9800550
No he won‘t, once crypto goes beyond tokenization dumb cunts like him will either fomo or get the rope ready.

crypto is like having mock stocks that you buy with real money

real jews stay out of it, let the kids have their fun

>>9800569
It didn‘t even reach its final form yet. But soon enough its time for the next step.

>>9800559
>once crypto goes beyond tokenization dumb cunts like him will either fomo or get the rope ready.
Like I said, I guess this means he has a long full life ahead of him if he's only going to kill himself when crypto becomes actually useful.

>>9800586
Less than 2 years is a long life? Poor nigga.

>>9800593
if it doesn't happen in 2 years will you kill yourself and livestream it?

>>9800550

I get not investing in crypto, I get thinking it’s, volatile, manipulated, and full of whales waiting to fleece you. Those are all valid points. What I do NOT understand is how much a bootlicking nigger you have to be to not be ROOTING for crypto win in the long run. Not even for your gains, I cashed out of crypto when we hit around 11k, just couldn’t hack the stress. Got all my money in stock, might jump back in before the next halvening. But Jesus Christ the absolute worst faggots are the ones sitting on the sidelines getting an absolute hard on for crypto to die. Even if you think it’s stupid you should be able to recognise the significance of the concept, using cryptography to secure your wealth independently of the federal reserve. You don’t even need to be college educated to understand how fucked the current monetary system is, countless documentaries from the left AND right side of the political spectrum highlight this. The corruption and evil of the US dollar is one of the only non partisan issues. And yet ten years after this visionary whitepaper (honestly the tech isn’t impressive it’s the game theory behind the whitepaper, before faggots start saying databases aren’t impressive) and bitcoin rose from 1 penny to 7k, the news talks about us every week, were in the Financial Times. This is a huge win for the common man, this is bringing free market competition to sovereign currencies. And yet despite this you still get inbred faggot niggers laughing and saying shit like “I can’t wait for this shit to die”, now it may end up dying, but if it dies it will be a huge tragedy for mankind. Moments like these are the only chances we as a society have to cause a change at the highest level. I’m not talking about “redistribution of wealth”, a new elite will arise, and some of the old elite will remain (like the Roths) but it will at least cause the slightest bit of disruption, the same way we’re better now than as literal serfs

>>9800619
Why would I? I know how to trade and make money no matter if bear or bull market.
Stupid nocoiner on the other hand has to rely on wagecucking. Sad.

>>9800516
>useful to humanity
It's so easy to spot communist faggots repeating same tired brainfarts over and over again. How is Bitcoin not useful in shitholes like Venezuela?

>>9800516
He makes a good point. Bitcoin is not being used on a global scale for any large transactions. Its really because in order to facilitate a large scale transaction using cryptocurrencies, one would need a smart contract set up to make the transaction completely trustless and immutable. In order to set up a smart contract of that magnitude, one would needs off chain information, and in order to properly bring off chain information into a smart contract while still adhering to the trustless nature of the contract, one would need a network of nodes acting as an oracle.

TLDR BUY CHAINLINK $1000 EOY!

>>9800530

>>9800516
the origami network will change this

>>9800702
sure showed him!

>>9800635
this is the real blackpill
the sufferings of this world are not due to the jews, the globalists, the elites, the feds or whoever we think pulls the string
it's people like that anon or that twitter guy, with their crab in a bucket mentality, happy to live in slavery as long as they can delude themselves into some perceived superiority by being cynical towards anyone that wants to improve the status quo
we more or less live in the world atlas shrugged described, and the very people who make fun of ayn rand as a fantasy peddler to immature teens behave in the exact same way the antagonists of that book did
just like white men are leaving traditional industries in drove to build stuff freely with decentralized technologies the way atlas shrugged's heroes retreated in the valley
the parallels are uncanny. ofc rand's story is a novel, with absolute good and absolute evil, whereas the reality has a majority of scammers using crypto and a minority of people using the technology for good, and by and large money does not drive people to be virtuous
then the truly evil, the aforementioned fencesitters, enemies of progress and potential point at the scammers to justify universal condemnation of crypto in any form
shit sucks. buy eth, use dapps

>>9800674
>bitcoin
>communist
holy fuck how can you be this retarded and still breathing

>>9800635
>>9800738

>both of these aren't pastas

>>9800749
I don't think you can read... kinda ironic when calling somebody else retarded... lol

When was the last time you (or someone you met) bought a product with crypto? What coin was used?

SWIM bought weed with it last week.

>>9800700
I wondered where that awful smell was coming from....

>>9800752
Haha you just #rekt'd them hard yo!
Nice meme *clap* review

>>9800771
If you can come up with a better solution for cryptos being used to facilitate large purchases please be my guest I'm all ears.

>>9800784
this will do nicely

Bitcoin is worthless, only a digital currency will work out is its back by gold or sliver on a 1-1 basics, than that digital currency would have value, bitcoin is back my nothing but stupid people who thinks it have value and con the next fool to buy it and etc

>>9800764
I paid for my tax software with my BCH from the fork. A lot of alt-right producers are strictly crypto since (((banks))) want to SHUT IT DOWN.

>>9800541
more likely he'll keep wagecucking and thinking "yeah if I wasn't doing this wagecucking what would I ever do with myself" while being sucked dry in every aspect of his life by the state

>>9800516
Third world actually uses them to buy food & get paid. It's not the fault of cryptos that your goverment fucked cryptos as payment currency to kill it and retain their monopoly on monopoly money.

>>9800516
I just paid this semester university fee with ethereum and saved myself the 3% debit card surcharge, (government loaned me the money but I pay back right away to avoid interest)
If I didn’t use crypto the surcharge would have been 210 dollars, last semester it was not available but they’re taking crypto payments now.
Crypto is speculative and whatvs but I am seeing the light, this shit had a future or at least will force banks to new less
>implying

>>9800803
What backs gold?

>>9800819
the jew

>>9800819
kek. asking the real question.

>>9800803
Nigger, everything in this world has the value we put into them, having a metric ton of gold is as useless as having internet meme coins under some contexts

>>9800516
tfw i could pay rent with bitcoin 2 years ago in my slavshit country

>>9800816
Has future*
Will force banks to Jew less*
Also I Bought a watch during the bullrun using eth and saved myself 3% surcharge as well.
That was only like 120 bucks but still, eth transaction was less than 1 dollar.
Don’t stores pay surcharge fees as well and some or all pass it onto the costumers?
My mom went to Cartier to buy a bracelet and they gave her a 5% discount and then when she said she could pay with cash they gave her 8%
3% off 20k is over 600, banks jew u hard senpai.

>>9800843
The physical laws of our world give base value. You need gold to produce certain electronic parts for example.

>>9800906
and you need diamonds to... well...

>>9800906
>The physical laws of our world give base value.
No, they dont...
The value of things solely depends on how society sough after said items, for example, the value of a dollar isnt the same in the US than in Venezuela, the value of a clean water isnt the same in Zimbabwe than in Europe and so on

>>9800906
>The physical laws of our world give base value.

>>9800752
Fuck off Forced Shrek Meme, those posts were great and yours just sucks.
>Here, enjoy this video!

>>9800792
DIE!

>>9801013
>those posts were great
>old edgy webm

>>9801022
>DIE!

lol cryptocuck IQ really is in the double digits

>>9800924
thermal paste and lasers, friend

>>9801013

>>9800819
The strong nuclear force. Costs a lot of energy/money to defeat it.

>>9801041
Like I give a shit about you. Put this in your compilation faggot.

>>9801044
overwhelming majority of lasers are just semiconductors, and diamond thermal paste... lol

either way, diamonds were expensive long before either of those inventions

>>9800924
industrial diamonds. You need diamond heads for mining in example. The inflated values selling to boomers are not base value.

>>9800960
What I'm saying is that certain things will be always sought after purely because the laws of the universe make them a requirement to have. This gives them a constant minimal value that will never vanish.

>>9801079
>laws of the universe make them a requirement to have

yeah dude, the price on them photons and oxygen is just overwhelming

oh wait what do you mean I can have those for free

>>9801102
Rare minerals will still have a value in 1000 years. Your current money will likely be long gone.

>>9801116
>rare minerals
>rare

and there you have it, the true reason for the "base value"

>>9801126
If you could replace them with backyard stone they would be valueless. Why can't you replace them? Cause physics.

You can easily replace money but you will never replace those. That's the difference.

>>9801165
but you do replace them as technology advances, as certain materials become more available than others, as society changes

brainlet

>>9801165
>muh physics
yeahh. then iron is more valuable than gold.

uses are:
>foods and medicines
>agriculture
>automobiles

>>9801165
I agree, but really only with half of what you're saying. It's not so much the inherent properties of these materials that gives them their price, but the difficulty in obtaining them. There is a correlation, but not a causation. Being rare does not necessarily make a material inherently useful.

>>9801176
name one element we stopped using.

Taking some internet rando with the handle trolly mctrollface seriously, never change /biz

>>9801216
radon

>>9800516
Bits of paper and stoneage shiny stones won't be worth shit in 20 years when your sitting on your fat lazy arse on your hover chair while you get a blowjob from your sexbot WH0R3 1000 as your massagebot EZ1 300 rubs your feet as your wifebot CUNT1 makes your dinner

>>9801210
Cost to extract is the best point here. Assuming the cost is higher than the deposits value the deposit becomes as good as worthless since nobody want's too make a loss.

>>9801196
Nobody argued against supply&demand.
The argument was only that some goods will always retain a nonzero value due to their inherent usefullness.

>>9800924
Diamonds are pretty useful though, but they're also pretty common and relatively easy to synthesize, so the only reason they can be sold for so much is price manipulation by the De Beers Group.

>>9801254
>in 20 years
>sexbots, so epic bjs 24/7

the future for crypto NEETs will be much worse

>>9800635
This 100x
Crypto and blockchain technologies have the potential to disrupt the entire current economic system and do away with the middle man and centralization. I can not understand the retards who unironically root for the fall of such technologies, it's absolutely disheartening. Even on /pol/ on all places are there people that would love to see crypto crash and never come back, I often wonder how the fuck those mouthbreeders can be so ignorant and arogant at the same time.

>>9800569
>crypto is like having mock stocks that you buy with real money

And you still need to pay taxes on it HAHAHA

>>9801285
/pol/ is irrelevant now. /biz/ is the new /pol/.

>>9800516
Lol, coming from trolly mctrollface..

Either way, people can say shit like this all they want.

I can in fact purchase anything I want with my magical digital monies.
From something as small as a piece of gum up to a house.

Obviously you can't cash out just anywhere but you also can't take chink money and move to burgerland with it. You need to get it converted.

On that point, American bucks are accepted almost anywhere but that happened to work out by chance, same with Canuck bucks- you could use them almost anywhere people will accept American dollars.

Now to the elephant in the room.

Crypto will become king once we see one of them fangdangled debit cards that uses your crypto for cash become a part of debit/credit machines. You can already link your cards to your mobile so having a crypto option really isn't far off. The main issues are laws and shit especially with using your money abroad.
These cards do exist already but only one will win and that's whoever is working with visa/MasterCard.

>>9800635
God damn this is hard hitting stuff. Uncharacteristically hard hitting to say the least.

>>9801285
Once the scenario is that it's also under bank/goverment control it becomes merely a better tracking tool for your finances with a record that lasts forever. Today already most western countries outlaw the originally intended use.

>>9800738
Often times it will be someone who claims to be "progressive" that will also fear crypto the most. Which is something we should be willing to call out more often than not.

>>9801327
/biz/ is the new [s4s] at best

>>9801342
>crypto for cash become a part of debit/credit machines.

so banks allowing crypto on cards? lol, so never

>>9801429
We have Monero and there are ways to launder your bitcoins very easily on the dark web

>>9801466
nah. /b/ is

>>9801327
Agreed. There is better political discussion on /biz/ anyway now, /pol/ glows in the fucking dark.

>>9801527
/b/ is what? it is the same edgy teenage newfag cesspool as always, rest of the site doesn't even go there

>>9801484
If BlockStream has it's way, banks will be soon running LN hubs

>>9801492
Monera had at one point 50% chance to identify a user due to an oversight exploit. Didn't keep up with it how it is now but it can be simpler: they could make it illegal to use anon cryptos.

>>9801484
Already exists in germany but still a small project. Your account is cryptos and you can use the card to pay in € deducting the value at current market price. It's not a major bank however but a new startup.

>>9801535
this place is on ice until the next bullrun. thread quality is garbage last 4 months

>>9801554
>If BlockStream has it's way, banks will be soon running LN hubs

Lucky for us LN is a pipedream anyway.

>>9801545
Agree. /b/ is the new s4s at best.

>>9801574
But it would be hard to regulate and we don't have an one world government so it won't be made illegal worldwide in one sweep.

>>9801047
In that sense the energy required to defeat Bitcoin (or any other cryptocurrency) backs its value, which is why coincidentally the network effect is so important in crypto and why first mover advantage exists.

>>9801176
He isn't a brainlet, he is on the right path. He just has not seen the light yet.

>>9801584
The occasional non-crypto gem slips through still. See: >>9799062
Boredom breeds discourse.

>>9801634
Common interest can lead to a common result. It doesn't need to be illegal everywhere. People largely won't leave their country nor disobey the law. If the majority makes it impossible to use you could see anon crypto die due to lack of users.

it would be possible to slip through regardless of what they do but it would require singificant technical skill and effort- something the average user won't have and without getting the majority on board the issues remain.

>>9801654
there is no "backing" tho, the network is secured by wasting enormous amounts of energy, but there is no mechanism to turn your ledger entries back into usable energy. bitcoin is intrinsically worthless, moving numbers in a distributed ledger is only worth what someone is going to give you in exchange for moving the numbers. and unlike government backed money, people don't desperately need bitcoin to fund their daily purchases, pay back loans and taxes etc.

>>9800906
Gold value is not based on the demand to fabricate electronic parts with it.
Gold used in industry beside Jewellery is laughable, look at platinum for example, a precious metal which is not as popular as gold that actually derived its value from industrial use, perhaps hundreds of times rarer than gold, all the platinum ever mined fits in an average room, gold is around 170k tons, to get ur small brain to understand that’s enough to fill a couple Olympic pools.
Yet gold and platinum have similar prices despite a much larger percentage of the mined platinum being used for industrial purposes while total gold used for industrial purposes wouldn’t surpass 10%
Both are precious, just that one is far rarer, guess why Gold is more expensive and usually at best platinum will only be slightly more downside despite being hundreds of times rarer

Because of you and me and everyone else.
People Hoard gold not platinum, when people want to put money into a precious metal to avoid economic turbulence they put it on Gold or silver, our preferred precious metals

We assign value to things. We are the force that drives the price.
It does boil down to offer and demand but you misunderstand where the demand for gold comes from, it’s not “industry”.

>>9801823
He was talking about security. Meaning you need greater energy waste to manipulate the chain. Thereby making your coins save. Of course realistically you need to look how divided the network is - if there ever is a group owning the majority it's over.

Provided that the former is secured bitcoin is saver than goverment fiat because noone can block / take your money away. Every shithole in the world is hot on crypto precisely because it's a better more stable currency than what their goverment can provide.

>>9801902
too bad so much energy is wasted securing the network when attacks are never aimed at the most secure part of the ecosystem, being your own bank makes crypto far far less secure than traditional banking because the average user is completely clueless about security. and exchanges can blacklist wallets or tx chains, making turning your ledger entries into real-life goods or usable money impossible. and ofc the government can take your money away by applying force to your nutsack until you give up your keys.

>>9802021
The praxis is it works and people have survived with it. Running after a number pair constituting a crypto wallet someone might own is a lot harder than just telling the bank all your money is now frozen and belongs to the gov.

>>9802084
still you're entirely dependent on developers of the software, mining pools and fiat gateways. most people in unstable economies look into community solutions or stable foreign currencies or stuff like mobile minute payment systems instead of buying the bags of millenial ponzi "investors"

>>9802146
They ain't buying. They are mining or doing regular jobs while getting paid with crypto. Mining has of course the issue of not getting your rigs confiscated by the gov as some even outlawed it to enforce their own gov currency. Some places also have internet but not a single bank.

>>9800819
Consensus amongst humanity from millenia

>>9800516
>Using scan coin to buy other scam coin
Wow not a bubble at all.

>>9800819
The real world use of it. Microchips. Jewelry and coin use. You can, you know, hold it and it won't fucking disappear in an instant i on a solar flare or nuclear electromagnetic pluse.