/biz/ - Business & Finance

[Anonymous No.22857572]

I think the main problem with being on /biz/ all the time is that you become a LINK maxi. Not that that's necessarily wrong, LINK is obviously the best hold of the last couple of years and the next big step in crypto, but I have absolutely no fucking idea of what is happening in other projects.
The reason /biz/ found LINK is that we weren't as singleminded as ETH maxis who were completely married to their project. Are LINK ICOfags who are totally married to LINK going to miss the next big thing for the same reason?
Do people who experience one major moon (BTC, ETH, LINK) get fixated on that one project to the detriment of future gains?

[Anonymous No.22857595]

>>22857572
Go and masturbate, /gif/ is around the corner.
Don't pretend you some sort of smartass.

[Anonymous No.22857601]

>>22857572
Im not selling my link, faggot. Why dont you understand that

[Anonymous No.22857616]

>>22857601
I'm not telling you to sell, I'm asking if people who are completely focussed on LINK (like me) have fallen into the same trap that stopped ETH maxis from seeing LINK for what it was. You get so fixated on one part of the stack you stop looking at everything else.
Fuck, I even just assume the L1 race is solved by Arbitrum but there are like a dozen contenders in that race.

[Anonymous No.22857618]

If a person solves a puzzle a certain way successfully a few times, even if the puzzle changes and there are far more efficient ways of solving it, they will continue to use the original method. Psychological phenomenon (I forget the name of it), but yeah I do find myself buying back into the same projects I profited from. We're myopic beings. buy UNI

[Anonymous No.22858025]

>>22857572
Anon I don't know if you realize this but 9/10 uniswap coins are just fucking scams and I've learned that in crypto the straight and narrow waiting for your shitcoin to moon makes more sense than throwing all your dollars at the "next 10x will be 10k by EOW" token.

[Anonymous No.22858070]

>>22857572
> the problem on biz is you become a link maxi
You are the problem faggot. I'm not distributing my link gains to jeets late to the party who want to take advantage of link features.

[Anonymous No.22858138]

>>22857572
weak fud. You really suck at that game

[Anonymous No.22858142]

>>22857572
its a mix between what you said and what >>22858070 said.

Part of it is that if you have been here long enough you will realize 99% are shitshows and scams and others are projects parasiting or riding off LINK success (e.g defi yield farm projects made by "link marines" (aka trannies) or LINK competitors).

But then again you have stuff like YFI that came outta nowhere and turned out to be a pretty good usecase from the possibilities that LINK spawned, pretty much blindsiding everyone.

[The Devil !!y9pM1O7kKh0 No.22858144]

>>22857572
Poo in the loo.

[Anonymous No.22858181]

>>22858142
To add on, I guess I look at these when evaluating future projects:

Is it under LINK's umbrella and reliant on it (e.g a Defi project that relies on price feeds from oracles)

If it has its own niche usecase that is not related to LINK, will it have the same network capture and monopoly that LINK is destined to have (i.e will it face competitors that will eat this up in the future compared to LINK's first mover advantage)

I guess when you already hold the golden ticket few will see the need to risk it to buy other assets and get burnt, while others see the new usecases created by LINK (lending/borrowing protocols or some governance meme nonsense) and decide to bet on potential "winners". Then again I see all of Defi as reliant on LINK in the end, so why not hold the underlying asset that acts as the "reserve currency" so as to speak?

[Anonymous No.22858239]

>>22858181
that's the position i find myself in too. it always just loops around to "buy more link". But LINK was never supposed to be an endgame token, it was a tool that opened up new functionalities, a tool designed to open floodgates. so when you just sit in LINK saying "well this powers everything downstream anyway" i feel like you're hitting a wall.
I'm NOT saying sell your link. Obviously keeping a majority stake in the thing that powers everything else is a good play. But LINK is not the "end product" it is a facilitator of end products and I find that /biz/ has become complacent because a lot of us missed ETH, hit LINK and are now completely fixated on it to the exclusion of everything else.

[Anonymous No.22858281]

>>22858239
ill put it this way:
Defi is ONE niche usecase of LINK.
if LINK is the tool that opens up new functionalities and serves as the "swiss army knife" of sorts ranging from scaling to VRFs to DECO etc etc....

I guess the best analogy for me is about selling shovels during the gold rush. LINK represents not just a shovel, but also owning a proportion of the future "spaces" and "marketplaces" that will be created in the future.

I find LINK to be immensely valuable and honestly the metrics I mentioned earlier are quite hard to beat. Feel free to shill a project or any that can change my mind though (im currently looking into Kleros as an add on of solving data subjectivity for smart contracts)

[Anonymous No.22858306]

>>22857572

Interesting thought. Link will of course always be nr 1 but I am all in Link and don't even look at other projects. I'm thinking of using just using 10% to gamble on some other things. It will at this point be easier to make a 4x on some defi coin than with link (in the short term).

[Anonymous No.22858314]

>>22857572
I missed out and am going to miss out on fantom but I don't really care

[Anonymous No.22858341]

>>22858239
I would buy these new products but everything seems like rehashed 2017 shitcoins.
> nfts dude it's totally going to revolutionize art it's not just cryotokitties
> dude let's play musical chairs with defi rugpulls for lulz!
> Just try X
> why don't you try Z???
crypto anarchists don't sell products they change things. Lately everything has been shilled by satsgang just like 2017. I'm over it. Get new shills or have a product that doesn't need to be shilled. people should be legitimately excited for it like arbitrum with no token and one of many competing solutions but I'm excited for its release.

[Anonymous No.22858345]

>>22858281
i dont have anything else to shill because i still think the space is entirely too nascent for any really groundbreaking end products. But add ETH2.0 and Arbitrum to the mix and there will definitely be the beginnings of the Ubers and facebooks of DeFi. I just wonder if we'll be watching out for them, or totally jaded by an endless parade of shitcoins.

[Anonymous No.22858410]

>>22858345
> endless parade of shitcoins
and this. Fuck Andre and stupid food cryptos. These were without a doubt instrumental in jading me to the space.

[Anonymous No.22858453]

>>22857572
/biz/ has the same problem as tinder in a way. All the successful people leave and those who repeatedly fail stay. That's why I just check in on /smg/ and guage random cryptos every now and then. I have my strats in place for stonks and I've built up my wallets for crypto.
Pink /biz/ is really fun though. This has been a great year for memes, pic related.

[Anonymous No.22858477]

Look I understand that Sergey has mentioned the creation of a virtuous cycle but the how he does this escapes me because we literally have a quagmire of scams to chose between and if we support we buidl this virtuous cycle on immoral foundations

[Anonymous No.22858484]

>>22857572
Yes. Retards are missing out on CUR as we speak.

[Anonymous No.22858543]

>>22858484
>CUR
the fuck is CUR

[Anonymous No.22858688]

>>22857616
LINK is the only original project that actually fills a need that I’ve seen in years. Everything else is ethereum clone #574 and yield farming ponzi scams which are all useless. I’m averaging into ATOM and DOT because I think interoperability will become more important and people are actually building things on those chains but they won’t replace ETH and LINK.

[Anonymous No.22858786]

>>22858543
Soon

[Anonymous No.22858825]

biz was relatively ahead of the curve in 2017. now biz is behind. 95% of biz doesn’t even know how to provide liquidity or use most defi protocols. there were barely any threads about snx/aave/yfi while they were mooning (there still barely are any). it’s especially strange that biz is missing all of the big defi coins that are controlling the main narratives of crypto for the past 8 months, considering that the investment thesis that would lead you to buy chainlink should also lead you to buy snx/aave/yfi.

imo the market is getting more efficient and mature, and biz is not. the more institutional investors and tradfi people start to occupy the space, the harder it will be to make money for average biz retail.

[Anonymous No.22858888]

>>22858825
where do you do the research to find these stuff?

[Anonymous No.22858958]

>>22858888
Checked. Go on their sites for starters.
>>22858825
Are you new? Check the archive biz had threads for snx and aave. YFI not sure.

[Anonymous No.22859085]

>>22858825
> more money being swing traded by institutions will make it harder to make money
kek you're saying volatility increases yet it's somehow harder to make money? If defi fails because I don't wanna sell me link it means there is something wrong with defi not me and my extremely valuable multiple usecase linkies. kek

[Anonymous No.22859145]

>>22858281
>>22858825
have you looked into dmm? Timo sold halve his link stack for dmg. (I agree they seem to be oversold)
I am also struggeling to decide how to invest further (link or eth or defi coins or stonks). Any suggestions?

[Anonymous No.22859174]

>>22858825
>considering that the investment thesis that would lead you to buy chainlink should also lead you to buy snx/aave/yfi.
DeFi is a meme you retard, none that shit will matter in 5 years.
Chainlink matters because eventually most companies and financial institutions will automate away workers with smart contracts, and Chainlink is a necessary part of the smart contract stack.
Kleros is the closet thing to another Chainlink in that regard and once again /biz/ composes most of the early adopters.

[Anonymous No.22859197]

>>22859145

Yes I have - problem is that DMM seems subject to quite a bit of competition, example would be Akro and Curio (tokenization of real world assets on chain), team seems pretty solid right now but we will see in the future. So yes u can say it has not passed the metrics in my eyes yet (will it have the monopolistic effect LINK has)

[Anonymous No.22859203]

>>22858825
>thesis that would lead you to buy chainlink should also lead you to buy snx/aave/yfi.
your thesis is obviously not true. Overwork it

[Anonymous No.22859227]

>>22859197
> literally who
> solid team
kys satsgang

[Anonymous No.22859232]

>>22859174
Im the same poster as >>22858281 just on a different id. Any more elaboration or stuff to look into for PNK? It has caught my autism and its looking to be pretty neat, especially after I saw case 302

[Anonymous No.22859273]

>>22859227

I trust in my man with the CIA medal kek

But like I said before I do acknowledge that the project itself is subject to getting eaten up by other competitors in the future (i.e just hold LINK instead)

[Anonymous No.22859299]

>>22858825
/biz/ talked about those plenty, they didn’t get memed and obsessed over like link because they aren’t a safe long term play, and most of the smartest posters here are intj’s who want to find things you can safely invest in for 5 years and come out massively ahead. DeFi in its current form does not qualify, its just a shuffling of money already in the space and will eventually collapse without fresh blood (trying not to just label it a ponzi).

[Anonymous No.22859311]

>>22859273
Why should not a decentralized money market be subject to network effects and winner takes it all dynamics (i.e. most assets, most stables interest)

[Anonymous No.22859343]

>>22858453
That's wrong for both /biz/ and tinder

[Anonymous No.22859361]

>>22859311
Governance
Great for whales, uninteresting for anybody else

[Anonymous No.22859371]

>>22857572
Token scam

[Anonymous No.22859452]

>>22857572
>the next big thing
Anon, I...

[Anonymous No.22859543]

>>22859452
Also this. Btc and eth already functioned upon release, link is still finishing its product and pushing for adoption, which is insane because it means people that are up 50-100x are still early, but also means there’s still risk involved and it could ultimately fail.

[Anonymous No.22859581]

>>22859543
>eth functioned upon release
>btc functioned upon release perfectly
Have you slept over the last 9 years

[Anonymous No.22859616]

>>22859343
Wouldn't it be the opposite? I sure as fuck would not have stayed this long if it didn't make me a lot of money. Tinder wasn't getting me any better matches than Oklahoma cupid so I dropped it aft'a couple of months and a handful of shitty dates.

[Anonymous No.22859641]

>>22859616
You seem to assume you are successful

[Anonymous No.22859734]

>>22859197
Are you in a discord? This place has deteriorated too much for my liking. Wouldn't mind sharing a space with other like minded people.

[Anonymous No.22859802]

The problem is that there isn't much that can't be done with Link and Eth2.0/Arbitrum. Almost all of the new coins are related to taking data (Link) and processing it (Eth2.0/Arbitrum).

Everything else is built on this on some way. Imagine it as buying a bond in a country that just started and that you know is going to be sucessfull? Why buy stocks that would make 3x fuck you money when a perpetual bond can make fuck you money and has less risk?

For history chads, I'm comparing now to the 14th century development of finance. We've got from grug exchange berry for rock (Bitcoin up to 2015) to having insurance being developed.

However, if you'd bought 'shares' in the Medici bank, you wouldn't have anything today. If you'd bought gold, land and the rights to 0.001% of all tax revenue collected in perpetuity, you would exist on a different plane of reality.

[Anonymous No.22859857]

>>22859734
nope, and i enjoy the anonymity and the no filters discussion on this board no matter the fluctuation of quality (i believe the chanian ecosystem cleanses itself over time, specifically for biz a bear market purges the jeets). Do share your thoughts in this board and thread, im sure even this current state of Malaysian chair manufacuturing forum still deserves something.

>>22859802
Its a based take, which is exactly why it always circles back to "why hold X when you own LINK that dictates the entire space"

[Anonymous No.22859878]

>>22859802
One real concern I do have is whether Arbitrum (beta apparently only comes out Q1 2021) will appear in time amidst other scaling solutions

[Anonymous No.22859896]

>>22859802
>>22859857
Do you plan on investing in other asset classes than Link?

[Anonymous No.22859899]

>>22859085
more efficient markets and institutions trading doesn’t mean more volatility, it usually means less. retail also does not do well in volatile markets, it’s quite the opposite. wealth always flows upwards when during market events and periods of volatility

[Anonymous No.22859954]

>>22859174
if by defi you mean inflationary food ponzis then sure. go look at the graph of minted wbtc though. institutions aren’t ignoring the opportunity of 30% APY while only needing to be exposed to BTC/USD. your description of why chainlink matters makes me think you don’t have any formal understanding of finance though.

[Anonymous No.22859996]

>>22859343
This is more for tinder as a non hookup. It used to not be as bad as it is now.

[Anonymous No.22860022]

>>22857618
u can't argue with success. u only have to be right 60% of the time

[Anonymous No.22860104]

>>22859299
i feel like the responses to my post prove my point that people on biz aren’t even using defi protocols. when you remove every middleman and rent seeking institution in a traditional financial process, such as attracting LPs or backing synthetic assets, and you recreate the process and make it trustless via smart contracts, capital is naturally going to move towards the space until a point of equilibrium is reached with regards to returns.

yfi and uni are trading at a P/E less than 20. every fund and VC firm in crypto has pivoted towards this small 4% of the market, and biz completely ignores it. after two years of bear market, yfi does a 1000x in one month and nobody seems to care because jannies deleted every thread about it the first two weeks.

[Anonymous No.22860147]

>>22860104
a ponzi stays a ponzi
those that like to play ponzi games knew about it and played it, on /biz/ ponzi players have become a minority

[Anonymous No.22860215]

>>22860147
bro what are you saying. i just said yfi and uni have a P/E of 20. these aren’t ponzis, they represent ownership and control over services generating hundreds of millions of dollars.

[Anonymous No.22860239]

>>22860147
Good post. Traditional finance works the way it does because it is also a ponzi, that said it works because money printer go brrrr, crypto doesn't have the magic money printer so you end up with the opposite scenario, the middle men are cut out which is good but the system will become untenable long term without new money entering.

[Anonymous No.22860285]

>>22860215
A meta ponzi is still a ponzi
>>22860239
this, crypto is not the US of A and will never be

[Anonymous No.22860308]

>>22860239
you do know that when the dollar goes down, stocks, crypto, and gold all go up relative to the dollar right?

if you’re earning 58% APY on DAI, you’re beating every hedge fund in traditional finance, and the last thing in the world that you want is for new money to enter the system.

[Anonymous No.22860311]

>>22860239

Well if everything's a ponzi then wouldnt the most frictionless and ease of access protocols just win out in the future? Ever tried zapper.fi and just see how seamless shit is these days? defi itself imo opens up the barrier of entry to every jeet all over the world with a working internet. Helps too that defi memes are reddit tier and all the shit is shilled on twitter to normies

[Anonymous No.22860372]

>>22859954
You are really small minded.
Everyone will need to adopt smart contracts that massively slash overhead costs in the future in order to remain competitive. There are a lot more use cases for smart contracts than you seem to believe.
Smart contracts will put millions out of work, Chainlink is called the 4th Industrial Revolution for a reason. You must be new because every anon in 2018 got the memo.

[Anonymous No.22860519]

>>22857616
>focussed
Fellow Germanfag detected

[Anonymous No.22860525]

>>22860372
idek what you’re saying. i bought link in october 2017 and don’t plan on selling for 10+ years. i just wrote paragraphs about how defi is going to eat traditional finance... of course i believe smart contracts are going to take over the world. there is no reasoning that would allow for someone to invest in one of chainlink or synthetix without investing in the other.

my point was that “companies will automate jobs away fourth industrial revolution!!” is a completely reductive/wrong interpretation of why oracles are important.

[Anonymous No.22860609]

>>22860525
>there is no reasoning that would allow for someone to invest in one of chainlink or synthetix without investing in the other.
You need to overwork your hypothesis, as /biz/ should have demonstrated you over the last 8 months that it is false. My assumption, you overlooked long term systemic risks. Like crypto currencies prior to 2012 or icos prior to 2018, there is currently no specific regulatory oversight, depending on how this looks, synth, comp and company will stop to exist, be crippled or flourish. Impossible to predict, so too high of a risk for anybody not looking for short term gambles

[Anonymous No.22860864]

Did I do good?

[Anonymous No.22860954]

>>22860864
If you never sell, yeah. People will make fun of you here for the next few months but you have more than most will ever be able to get moving forward, especially the neets and pajeets that missed it 3 years ago. Think about it, the people who bought link at a dollar in 2018 probably felt like absolute fools for the longest time, and they're all up at least 10x now.

[Anonymous No.22861160]

>>22860525
>there is no reasoning that would allow for someone to invest in one of chainlink or synthetix without investing in the other.
Why would someone invest in a small use case of smart contracts instead of something that will be apart of the backbone of all major use cases?
That would be like investing in Facebook early on rather than hypothetically investing in HTTP.
The tokenomics model of Chainlink and the fact that everyone will have to use it means it's a way better investment than any DeFi garbage will ever be.
>is a completely reductive/wrong interpretation of why oracles are important.
No it's not, slashing overhead costs, and everyone following suit to remain competitive, is what will be the main force driving global adoption.
I don't see how else you think smart contracts will take over the world.

[Anonymous No.22861348]

>>22857572
>LINK is obviously the best hold of the last couple of years and the next big step in crypto, but I have absolutely no fucking idea of what is happening in other projects.

correct. while link is definitely a no brainer, being too focused on it might make you lose other gems. aave/snx/yfi/nxm/rsr/uni are possibly similar investments, except that they might offer higher reward/higher risk. Overall, link is probably the best or one of the best place to park your profits, alongside with ether.

people make fun of btc/eth maximalists, but lots of those become link maximalists and lose lots of opportunities out there. sure, it's FINE if you want to protect yourself from spewing money at food farm scams, might be even +ev for most linkers to just buy and hold long term because it still offers amazing risk to reward long term but yeah I get you op, being a maximalist restricts you.

>>22858825
>controlling the main narratives of crypto for the past 8 months, considering that the investment thesis that would lead you to buy chainlink should also lead you to buy snx/aave/yfi.

this!! some fag who gets it!!>>22859734
>Are you in a discord? This place has deteriorated too much for my liking. Wouldn't mind sharing a space with other like minded people.

you can join my discord. server id is 7tCCreW
We are profit maximalists there. We also like link. a lot. but we also like discussing new coins and setups that might help us trade/finding some new gems. We also shitpost a lot though. You and other fags are welcome, but no pajeet shilling there

[Anonymous No.22861612]

>>22857616
>Fuck, I even just assume the L1 race is solved by Arbitrum
Its actually solved by AVAX.
The Avalanche Consensus comes like the Chainlink Whitepaper out of Cornells IC3.
Emin Gün Sirer is the #2 of IC3 (Ari Juels is #1).

They also solved Ethereums problem by making a friendly form of it called Athereum, its basically Ethereum that can scale and is fast.
but DYOR

[Anonymous No.22861615]

>>22857572
No one above Link

[Anonymous No.22861649]

>>22861612
*friendly fork
>>22861615
For Link to reach its full potential it needs a platform that can scale.
The biggest usecases cant work until a better Consensus was found. It seems like Avalanche is the Solution.

Sergey and Emin are also in contact and know each other.

[Anonymous No.22861684]

>>22857572
This is why I'm on twitter, and why I own BASED. Deposited LINK to aave, took out a stablecoin loan, bought BASED. Now I have paid back the loan and have my full LINK stack and 10% of my portfolio in BASED.

[Anonymous No.22861743]

Get to whichever comfortable level of LINK, minimum being 10K.

The rest of the money you get put wherever you want.

[Anonymous No.22861772]

>>22857616
>>22857572
Bingo.
If you weren't so fixated on link you'd see that going all-in RLC is the next play.
Thank me later.

[Anonymous No.22861848]

>>22857595
Basseeed fpbp

[Anonymous No.22861923]

>>22860104
>people on biz aren’t even using defi protocols.
What is there to use them for? Profitably shuffling shitcoins around only works until it doesn’t. I fail to see any value in the protocols in their current form

[Anonymous No.22862027]

Sold all my link at $19.50 and bought 200 BSV + 1 BTC + 32 ETH