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/biz/ - Business & Finance

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[ERROR] No.10155244 [Reply] [Original]

It's over guys. I am unloading by garbage truck full of bags.

https://nypost.com/2018/07/04/why-bitcoin-may-be-soon-worth-nothing/

>> No.10155253

Wooow. That might literally be the worst boomer nocoiner bullshit article I've ever read. Congrats John Crudele

>> No.10155255

K.

>> No.10155300

The us Dollar is worth nothing compared to what it was worth in the 50's.

Because you boomers have been diluting it and made the problem worse with fractional reserve banking.

BTC will dominate the world,

>> No.10155329

>nypost

>> No.10155341

Wow what an insightful argument.
I've seen more informative comments from facebook moms.
>>10155329
Also this

Saging your thread in 3.. 2.. 1..

>> No.10155352

Lul, dude doesn't understand anything... Bitcoin has a value because it costs money to produce.

If you spent $5 grand on hardware and $1 grand on electricity (hypothetically) you're not selling it for less than $6 grand...

The same way if a kid toy car costs $10 to produce, you're not selling it for less than $10...

How dumb is he ?

>> No.10155398

Wow imagine being paid to write an article where you can’t even use a proper noun for the topic you’re writing about and your first sentence is ‘it’s a fake currency’. Boomers really did have it easy if this guy managed to get a job as a journalist.

>> No.10155406
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[ERROR]

TOP KEK.

>> No.10155434

I thought we’d finally get rid of bitcoin. But the fake “currency,” which I like to call bitcon, just won’t fade away.

Bitcoin’s price rallied to over $6,600 yesterday, but it had been well under $6,000 last week. Even at $6,600, bitcoin is still worth 70 percent less than it was at the beginning of the year.

I use the term “worth” cautiously because bitcoin is really worth nothing since it’s backed by nothing or no one. It’s a confidence game that has value only because people are convincing other people that it’s worth something.

Got it! Ponzi scheme. Confidence game. Fraud.

Anyway, bitcoin is headed for a value of zilch. It’s only a matter of when.


wow man that's argument thanks sir market sold 666kk

>> No.10155458

>>10155244
Zilch!

>> No.10155460
File: 712 KB, 600x525, 1481513780598.gif [View same] [iqdb] [saucenao] [google]
[ERROR]

>nyp

>> No.10155473

>>10155352
Jesus christ you're even dumber than he is

>> No.10155491

>>10155473
jesus christ youre even dumber than both of them

>> No.10155498

>>10155352
No, it has value because lots of people think it has value, same thing with everything that has ever be used as money.

>> No.10156254

>>10155244
>I use the term “worth” cautiously because bitcoin is really worth nothing since it’s backed by nothing or no one.

someone should tell this guy it costs approximately $4,000 to make a single BTC in the most efficient mining operations with the cheapest electricity in the world

>It’s a confidence game that has value only because people are convincing other people that it’s worth something.

You mean like literally anything of value? That's how value works, a buyer and seller agree something is worth an agreed upon price.

>> No.10156304

>>10155352
>x has a value because it costs money to produce.
According to you my shit has value because ot took $5 of food to produce. By your logic, my shit should be worth $5 and higher. Not only are you delusional beyond words, you are fucking stupid beyond hope. Cost has nothing to do with something's value idiot. Labor value of theory has already been debunked countless times.

>> No.10156357

>>10156304
>According to you my shit has value because ot took $5 of food to produce

That's a really bad example because shit is just the byproduct of eating food, you aren't eating food with the intention of selling your shit.

A better example would be a business selling cow shit as fertilizer to farmers, and selling the cow shit is the only product being sold (no milk or meat). If it cost $50 worth of food to produce a pound of cow shit, the cow shit can't be sold for less than that otherwise they would be losing money, and there needs to be buyers who are willing to pay that.

>> No.10156358

>>10155491
Jesus Christ >youre even dumber than them