/biz/ - Business & Finance

[Anonymous No.24386245]

Bitcoin is not digital gold.
It’s platonic gold.
It’s the ideal gold. It’s what gold is trying to be in the real world but bitcoin can be in the world of math.

We were given a chance to buy some platonic gold because we were nerdy and didn’t have friends so we ended up on a mongolian yak husbandry database where other more competent math nerds shilled us platonic gold

All in all i dont know how to fee about this

[Anonymous No.24386265]

dr;ns

[Anonymous No.24387135]

low IQ. if you actually dive in the technicalities and the engineering, you would realize bitcoin is far from what you think. It's actually really practical and far from gold. What you are thinking is what the kikes at blockstream wants you to think.

recap:
BTC is not bitcoin
BTC is not digital gold
BTC is even less so platonic gold
BTC IS SHIT

[Anonymous No.24387181]

>>24386245
you get it.

this is why jamie dimon of jpmorgan says "lots of smart people think the price is going lots higher than gold"

when gold appeared it displaced the previous forms of SoV....well technically took over the 90% of the market and relegated all competing SoVs to the 10%

The rise of btc will do same to gold.

[Anonymous No.24387198]

>>24387135
>csw will kill segwit in 2020!

[Anonymous No.24387329]

>>24387135
Yeah, Bitcoin shouldn't be compared to gold, it's better than gold in every way. Gold has been used as a store of value. Bitcoin is store of value defined. Not only that, it's digital (in a rapidly digitizing world) so it can live in the digital world where it can do a billion things while you're sleeping, because it never sleeps and isn't limited by borders or arbitrary jurisdictions. It also solved the problem of trustlessness which is like inventing fire. It doesn't care whether you like it or not, it doesn't need you. The only thing it needs to grow is for human beings to keep being human beings, that is incentivized to keep doing something that will benefit them.

It's a brand new asset class in itself. But really, it's a new form of life.

>Bitcoin is the first example of a new form of life. It lives and breathes on the internet. It lives because it can pay people to keep it alive. It lives because it performs a useful service that people will pay it to perform. It lives because anyone, anywhere, can run a copy of its code. It lives because all the running copies are constantly talking to each other. It lives because if any one copy is corrupted it is discarded, quickly and without any fuss or muss. It lives because it is radically transparent: anyone can see its code and see exactly what it does.

[Anonymous No.24387378]

>>24386245
Now are you going to listen to us and buy platonic truth, anon?

[Anonymous No.24387416]

>>24386245
yes, chinese controlled mining is platonic gold
thats what gold is all about

[Anonymous No.24387512]

>>24387378
>platonic truth
>technologically generated definitive truth

[Anonymous No.24387749]

>>24387329
You people and your fantasies. There's nothing true about what you think or believe.

>solved the problem of trustlessness
not a problem, not a solution
>isn't limited by borders or arbitrary jurisdictions
It will be, tech is still young but regulations are coming in. The CEO of coinbase announced that self-hosting wallets will have to be identified.

You can try to work your way around it, but in the end, you will be stuck with crippled useless tech. A transaction will cost more than all the alternative with no real other benefits.

>But tHaats JUST the US MAN! They are CUKING THEMSLEVS LOL!!!!

Yea sure, I bet the biggest market for mining, communist china, won't care at all about monitoring every fucking wallet there is. Especially since the tech is made for this, a public ledgers that keeps track of every. single. transaction. since day 1.

You guys are so fucking deluded it's not even funny. Never educate yourself, never seek truth, just make up stories that fits your narrative until the bitter end.

[Anonymous No.24387848]

>>24387135
anon, if you start you sentence with an insult i have less incentive to read your comment. just saying

[Anonymous No.24387873]

>>24387848
But you read their comment, if you didn't you wouldn't have noticed there was an insult in it.

[Anonymous No.24387987]

>>24387749
you had 11 years kek

[Anonymous No.24388194]

>>24387749
>not a problem, not a solution
A medium exchange goes back to how civilization was built. We went from seashells, to gold, to fiat. Seashells and similar mediums were wiped out because gold is a harder money. Gold isn't easily transferable, digital or divisible - so govt issued paper currencies being backed by gold were created. 50 years ago we left the gold standard and adopted Keynesian monetary policy.

The monetary policy we currently have is one based on spending. Policy dictates that saving is bad, and that spending must be promoted perpetually. This means inflation, true inflation being 7% historically. It's the reason behind the wealth gap - which is outrageous if you look into it. It means bubbles. It means 2008, when fiat was overleveraged. It means malinvestment because the money isn't issued with due diligence. The Fed simply prints it ad infinitum. This is the reason for the boom and bust cycle of economics. Look up Druckenmiller or Dalio - they both cover this extensively, and they are amongst the most educated in economics, prospering from these understandings.

Trustlessness means first principles. It's how Elon says he made his fortune. It means going back to thinking about how we think about money in the first place. If you could design a money - would you design it to be centralized? Of course not. Trustlessness means no one entity can control it or change it. Again, this is like creating fire, as it touches upon all of humanity via economy.

1/2

[Anonymous No.24388379]

>>24387749
2/2

>Regulations
Regulations are legitimizing cryptocurrency. CEO's in this space are all saying how fast this is all happening. Many of them say they weren't expecting this for another decade. Banks can now custody digital assets. Brian Brooks, former Chief Legal Officer at Coinbase is now the comptroller of the currency, the crackdowns on exchanges aren't the demise of Bitcoin, it's the legitimization of it. BlackRock, Fidelity, Guggenheim, CitiBank, JPMorgan, PayPal institutions are beginning to plant their flags and make their moves. BTW, this is the first time in human history where the individual retail investor has been allowed to frontrun the institutions. It's like being allowed to invest in Google pre-IPO. Layer 2 is being born and legitimized which means blockchain transactions move to the final settlement space.

>US/CHINA

The miners are the slaves of the network. There is no way they can "cash out" after a hypothetical 51% attack. Their only motive would be to attempt to destroy Bitcoin, which would only lead to a fork. So, the CCP would have to arrange all of this - for ambiguous reasons as they would be alienating themselves from the rest of the world (which they are highly reliant on for trade). In terms of privacy, there are ways around this as anyone can interact with the blockchain regardless of regulation, and jurisdictionally there will always be geo-arbitrage and VPN's.

[Anonymous No.24388874]

>>24388379
>Banks can now custody digital assets
>Let centralized power take control of decentralized protocols
>That looks pretty valuable goy, mind if we hold it for you?
>You will argue that this is perfectly fine

[Anonymous No.24389054]

>>24388874
I'm not arguing that Bitcoin is going to flip fiat. But I am saying it will be the building block of sound money with the potential to slowly rip apart the existing systems. Trusting in third parties comes with the due diligence of understanding how that company operates in terms of potential lending/borrowing, and storage policies. In any case, overwhelmingly people have their own keys. The parties most interested in ETF's and third party custody will be institutions. Bitcoin is the only decentralized trustless system to exist, it's been blowing everything else away and it's going to blow everything else away. The only thing that can stop it is us.

[Anonymous No.24389591]

>>24389054
>I'm not arguing that Bitcoin is going to flip fiat.
Inflationary fiat prevents rapidly growing economies from outpacing access to liquidity like constantly happened with the gold standard. It also punishes people that hoard money without making it work for them.
Countries can still operate a fractional reserve fiat economy but now they have a tool for deleveraging without buying foreign currency and perhaps strengthening a competitor or an out of control satanic empire.
As an individual you cash out your fiat profits into deflationary platonic gold and lend it out with decentralized collateralized lending which reduces reliance on fractional reserve banking and risk of unexpected synthetic feedback loops like in 2008.

[Anonymous No.24389610]

>>24389054
>it will be the building block of sound money with the potential to slowly rip apart the existing systems
I sure hope so anon