/biz/ - Business & Finance

[Anonymous No.13250800]

Is crypto even real?
How do we know these coins even exist? Maybe we just move imaginary numbers around without an underlying asset backing them up?
I am scared, frens...

[Anonymous No.13250852]

>>13250800
It's more real than fiat, which is backed by nothing and created out of thin air by banks.

[Anonymous No.13250872]

>>13250852
yes but i can touch paper

[Anonymous No.13250914]

>>13250852

But at least with fiat you have pieces of paper, with crypto you have nothing

[Anonymous No.13250926]

>>13250800
Is anything even real?? No, everything is retarded and fake. now stfu and buy xrp.

[Anonymous No.13251000]

>>13250872
do you use credit cards? do you touch that money ever when it exchanges hands?

[Anonymous No.13251008]

>>13250872
the USD is a currency. BTC is money. learn the difference

[Anonymous No.13251018]

>>13250914
like this provides any value

[Anonymous No.13251019]

>>13250852
Fiat is backed by real governments with real militaries
Crypto is backed by real Indians with real poop
Really makes you think

[Anonymous No.13251024]

>>13250800
Fractional reserve banking was always a shell game. Plebs would lend their gold to a bank for a return on interest. You could technically withdraw all of your gold. But not practically.

If enough plebs tried to withdraw in the full amount at once, you'd get a bank note for your gold that you could retrieve on the other side of the continent. You could get on your horse, travel through bandit country and maybe a warzone, maybe lose a horse or family member along the way, just to get where the reserves were held. Or you can play along and spend the IOU, like every thing's fine.

After the industrial revolution, travel became easier, but feeding the ponzi became a bit more difficult. Every nation that had a gold backed currency failed in less than a century. America even started banning the possession of gold ingots and confiscating it to keep the scam going.

Thank god the sham finally came to an end. Sure, 1 GBP is worth chicken tenders on the kids menu, not a pound of sterling silver. But now that we can admit we have a problem, we can at least hedge with precious metals. Unfortunately precious metals can't be transmitted digitally. That's the one thing banks really moved the world forward on.

Bitcoin was invented to be a p2p digital currency. Great idea. 1 BTC=1 BTC, no ifs ands or buts.

[Anonymous No.13251070]

>>13251024
Good post. For those not familiar with (((central banks))) vid related: https://m.youtube.com/watch?v=lbarjpJhSLw

[Anonymous No.13251075]

Nothing is real, we're puppets dancing for invisible masters.

[Anonymous No.13251096]

>>13250872
paper money is literally 0.00000000001% of all existing fiat money

[Anonymous No.13251111]

>>13251019
>I can force people to use my shitty product at gun point and this surely doesn't end up badly time after time

[Anonymous No.13251172]

>>13251111
Checked. And yes, people who think fiat is "backed by guns" are brainlets.
It is backed by the competence of its issuer, which is somewhat dependent on the military, but the latter is nevertheless only a necessary and not a sufficient condition for "backing." In case you haven't noticed, the issuers are a bunch of clowns.
HONK HONK

[Anonymous No.13251498]

>>13251172
>>13251111
Governments are responsible enough to intervene when the economy hits a decline. There's literally no state entity that will move to a currency they can't control. Treasury bonds are a much better investment long-term than betting on fake drug coins

[Anonymous No.13251524]

>>13251498
big governments won't replace their currencies with bitcoin. people will start using bitcoin more because in preference to the currency

[Anonymous No.13251534]

crypto is more real than any other currencies because it's closest to its platonic form as pure electricity.

[Anonymous No.13251538]

>>13251096

>Almost 100 years for $20 to simply buy less groceries

>11 years till 1 btc goes from buying you groceries to a mansion

Do you fucking idiots actually believe this garbage or are you aware it's an exaggeration to make a point?

[Anonymous No.13251556]

>>13250800
Most of the shit people 'invest' in here doesn't even exist. It only exists if it has a blockchain which you can explore. ERCs don't count because they're all worthless.

[Anonymous No.13251580]

>>13251498
Anyone in power within government has money on tax havens. HSBC bank has cucked any government that has tried to intervene. Do the math.

[Anonymous No.13251593]

>>13251538

[Anonymous No.13251597]

>>13251096
this makes me wanna bitcoin

[Anonymous No.13251602]

>>13250800
Ponzi scheme. Fools buy hoping to sell to greater fools.

[Anonymous No.13251616]

>>13251602

It's that the definition of capitalism?

[Anonymous No.13251670]

>>13250800
Are the numbers in your bank account real? Hint: they’re not. Your bank does not actually have the cash to cover your deposit, and if even just 10% of people decided to take their money out of the banking system, every bank would fail and the entire global economy would collapse. This isn’t even a secret, it’s just how the modern economy functions.

[Anonymous No.13251696]

>>13251538
In 2012 a guy bought a pizza for 5,000 btc. Today that will buy you a $25 million mansion. So no it isn’t an exaggeration, it’s real life.

[Anonymous No.13251765]

>>13251696

And you think the 25 million dollar mansion will then exponentially grow to being able to buy a small country in 2030? If you look at the rate of growth, it was exponential in it's infancy. Then it started doubling. Then increasing by 50%. Then by 25%. Then it dropped by 75%. The idea that it will see exponential growth at this price is laughable. It's not chump change anymore.

[Anonymous No.13251782]

>>13251696
Wrong. It was two pizzas for 10,000 BTC and it was in 2010. You managed to get everything wrong expect the concept. At least fucking look it up you Dunning Krugtard.

>"in May 22, 2010, a programmer purchased two large Papa John’s pizzas for 10,000 bitcoins, worth about $30 at the time."

[Anonymous No.13251858]

>>13251782

No, he got the concept wrong too. And the assumption it'll increase in price as if it's currently worth $1.

[Anonymous No.13252113]

>>13251524
Why would people want to keep money in a highly volatile system?

[Anonymous No.13252139]

>>13252113

They wouldn't. Btc will never be stable. It's simply something to buy and sell. It was supposed to be used as currency but it never will. Absolutely no major institutions will adopt it and many have banned it from being offered to customers as part of an investment portfolio. They will not adopt it because they cannot regulate it or control it. None of their constituents would ever do business with them again if they did.

[Anonymous No.13252149]

>>13252113
Because over time it's volatility shoots up. It's not hard to figure out. Every 4 years BTC goes 10X at least.

[Anonymous No.13252151]

Bitcoin is a PRODUCT not a currency. Never forget that.

[Anonymous No.13252153]

>>13250800
DELET

[Anonymous No.13252192]

>>13252113
>highly volatile system
The system is actually incredibly harmonious, an increase of hash power leads to an increase in difficulty and a decrease of hash power leads to a decrease of difficulty encouraging more people to mine and ensuring approx 10 minute block times.

What you're probably referring to as volatile is the dollar value of bitcoin, which if you observe over time, is decreasing in volatility. This makes a great deal of sense when you realize every 210,000 blocks or approx 4 years a block reward halving occurs. The block reward is the reward the miner receives (plus block fees) for successfully mining a block. Currently it is 12.5 bitcoin. In approx 412 days the block reward will halve to 6.25 bitcoin thus reducing the inflation rate of bitcoin further. This cycle is set in stone and will continue until the block reward essentially hits 0.

My answer to why people would want to keep money in bitcoin is simple. Bitcoin is true financial freedom. Bitcoin is ultimate financial sovereignty for the individual. It is a paradigm shift of the idea of trust that has changed the world forever.

[Anonymous No.13253089]

>>13252192

Bitcoin is literally the complete opposite of everything you described. It's a product and its value is controlled by very few who have zero regulations. It's not financial freedom, it's financial ruin. Just cause you made a profit off bartering for/with the PRODUCT that it is (as opposed to currency, which it is not), doesn't make it currency.

>Financial sovereignty

Good grief you degenerate gamblers weave such webs.

[Anonymous No.13253092]

>>13250914
the inherent value of paper is basically nothing so either way it's all just backed by the people that use it

[Anonymous No.13253121]

>>13253092

>There is zero difference between crypto and fiat

/biz/ unironically believes this.

[Anonymous No.13253126]

>>13253089
As every currency, thanks to crypto we're going to have many more of them

[Anonymous No.13253136]

>>13251019
>it's not tangible so there's no value

[Anonymous No.13253148]

>>13253089
Bitcoin is transparent at least and it's available to anyone it definitely has value as the first digital gold

[Anonymous No.13253155]

>>13253148

It's a product and a shitty one at that.

[Anonymous No.13253162]

>>13253136

>I'm in a casino so I will win

Idiot.