/biz/ - Business & Finance

[Anonymous No.15808536]

crypto is cool an all, but it isn't backed with anything just like fiat money

also there is an endless amount of crypto because everyone can create their own

[Anonymous No.15808550]

>>15808536

[Anonymous No.15808559]

>>15808536
ask yourself why gold has value and you will know that bitcoin is not the same as fiat.
it CAN be fiat but ISN'T fiat.

[Anonymous No.15808578]

>>15808559
gold has value because people use this stuff for 6000 - 7000 years

Gold is also used in jewelry, electrionics, computers, dentistry, medical stuff, aerospace, awards & status symbols z.b gold medalls, glassmaking etc

[Anonymous No.15808636]

>>15808578
it's counter intuitive but industrial usage is actually bearish for a store of value. that's why the silver chads will fail if they don't sell the exact top of the spike.

gold's usage is negligible. read this https://www.bayernlb.com/internet/media/ir/downloads_1/bayernlb_research/megatrend_publikationen/megatrend_bitcoins2f_20190930_EN.pdf

[Anonymous No.15808845]

>>15808536
that is true, crypto is fiat
>>15808550
hash power give value to the coin, but that matter only if you choose to use the value
>>15808536
and because there are many coins you have no reason to choose to use the expensive ones
>>15808578
gold has intrinsic value because you can use it for stuff

[Anonymous No.15808881]

>>15808845
> gold has intrinsic value because you can use it for stuff
Wrong! Gold has intrinsic value because humans have agreed it has value for ages. That it is also a valuable resource for some applications is more like a side business and not the cause of its value.

[Anonymous No.15808894]

>>15808881
wrong
intrinsic value by definition is what you can do with it
food, car, tools, wood

imbued value is what humans assign to it now, function of supply demand and cost

[Anonymous No.15808920]

>>15808881
>>15808894
gold has intrinsic value because it has unique properties no other thing has (besides bitcoin).
and those properties qualify it as store of value, combined with a long history as currency.

[Anonymous No.15808927]

>>15808920
gold has value because of what you can do with it
and you do that because of its properties
gold odes not rust
gold is easy to work with
gold is shiny

intrinsic value is what you can do with it, iron is stronger, for a week then it rusts, today we have better alloys

[Anonymous No.15809229]

>>15808845
>hash power give value to the coin, but that matter only if you choose to use the value
what are you even trying to say?

[Anonymous No.15809238]

>>15809229
if you want to use 1 bitcoin (now) you have to pay the market price and the value is fair
because of the mining you have fair value and checks and balances
however the value exist only in the market that is now

[Anonymous No.15809240]

>>15808536
>gold is cool an all, but it isn't backed with anything just like fiat money
>also there is an endless amount of gold because everyone can mine their own

[Anonymous No.15809243]

[Anonymous No.15809251]

>>15809238
and? i'm sorry, i don't understand the significance of what you're trying to say

[Anonymous No.15809262]

>>15809251
it means BTC has value
but that value is not intrinsic and can vaporize at any time and it is useless as a store of value medium

[Anonymous No.15809265]

>>15809262
and how is that different to anything else in the universe?

[Anonymous No.15809272]

>>15808536
Its value is in itself being a value marker of trade.

> endless create your own

No. I mean you could invent your whole coin if you wanted to but you can't print an existing coin without effort.

[Anonymous No.15809276]

>>15809265
gold's value is intrinsic and if the current market condition are fair, you can buy it and the value you exchanged for it now, will be stored
if it is fair valued
that is because gold is indestructible

[Anonymous No.15809278]

>>15809262
it's rare, nobody can manipulate it and you can take it anywhere you want.

tell me anything that has these properties. it's a store of value.

[Anonymous No.15809283]

>>15809278
no you are wrong
it is a store of value only if it can last and maintain the properties
rarity is not valuable
also gold can be manipulated and the current price might not be fair

[Anonymous No.15809305]

>>15808536
Fiat money is backed by the need to use it to pay taxes.
Crypto's value is purely speculative.

>>15809278
People try to manipulate the value of crypto all the time.
Mainly by shilling it on /biz/

[Anonymous No.15809315]

>>15808536
yeah if it's not proof of work. the long term value of coins not using large scale proof of work as part of their security model is 0

[Anonymous No.15809327]

>>15808578
>gold has value because people use this stuff for 6000 - 7000 years
that's a fucking retarded reason to value something and as the boomers who think this way keep dying off it will become more and more clear. women were also treated as property until 50 years ago. things can change faster than ever now. boomer rocks are shit when it comes to modern security and operations considerations. all we need to do is wait for boomers to die and we won't even HEAR about the fucking rocks anymore unless we are at an indian wedding or something

[Anonymous No.15809331]

>>15809243

probably a federal reserve glowposter

[Anonymous No.15809369]

>>15809276
and how is bitcoin any less indestructible than gold?

[Anonymous No.15809389]

>>15809369
bitcoin and any crypto effectively exist only if there are new blocks added
if there are no miner, the chain is stuck, you still have to proof and the coin still exists but since it cannot do anything it is dead
so crypto requires a live netwrok, expending resources
while gold requires nothing, it just is

both are indestructible, but the value of one only exists if you actively do something

[Anonymous No.15809408]

>>15809243
A sign of the times. Bitcoin is dying. Nobody would have asked these questions last year. If bitcoin doesn’t appreciate at 5% per year it’s finished.

[Anonymous No.15809422]

>>15809389
Not only that the value must appreciate in bitcoin to account for miner decay.

[Anonymous No.15809432]

>>15809422
death is pretty normal
we haven't seen miner capitulation yet
we are still in bubble land

[Anonymous No.15809439]

>>15809408
Buy signal.

[Anonymous No.15809442]

bitcoin isn't real

[Anonymous No.15809495]

>>15809439
If has failed all its use cases. Name a single bitcoin use case beyond paying for crime

[Anonymous No.15809594]

>>15809495
it is store of value because ...
it is the only blockchain
it is the only crypto
it is only bitcoin

that is the only thing they have left
and it is not an argument

[Anonymous No.15809608]

>>15809594

[Anonymous No.15809634]

blackpill: all money is social consensus. as boomers die off and millenials/zoomers holding buttcorn and shitcoins start having more prevalence in society, the likelihood for corns to be actual money increases
consensus algorithms matter, but believing their importance is intrinsic means you've fallen for the sleight of hand. it's unironically possible for xrp or tron to become money

[Anonymous No.15809639]

>>15809634
copium
all.....bullshit

[Anonymous No.15809654]

>>15809634
What percentage of millennials own shitcoin? Will they stand for allowing that wealth transfer to happen? Incels be driving vans through crowds and you think the rest of the world is gonna let your shitcoin become worth something?

[Anonymous No.15809683]

>>15809240
There is still a finite amount of gold on the planet, and even smaller finite amount of it in circulation in the market. With cryptos there can infinite. So basically u a retard

[Anonymous No.15810423]

>>15808927
>gold has value because of what you can do with it
The most valued thing you can do with gold is store it.
>>15809389
The data still exists if the network is down. In a collapse of global communication I would mine a local fork that would be merged when global infrastructure is restored 300 years later.
>>15809594
It's a store of value because it stores value. I know how robust the system is and how fragile other systems like ETH are so I trust this system more than any other by far.

[Anonymous No.15810448]

Anyone can create thier own fiat currency too btw.