/biz/ - Business & Finance

[Anonymous No.24769291]

>For most of human history, some physical object was used as the store of value. The function of value storage did not need a physical manifestation, but having one allowed for making the supply of the store of value harder to increase. Bitcoin, by not having any physical presence, and being purely digital, is able to achieve strict scarcity. No divisible and transportable physical material had ever achieved this before. Bitcoin allows humans to transport value digitally without any dependence on the physical world, which allows large transfers of sums across the world to be completed in minutes. The strict digital scarcity of the Bitcoin tokens combines the best elements of physical monetary media, without any of the physical drawbacks to moving and transporting it. Bitcoin might have a claim to make for being the best technology for saving ever invented.

[Anonymous No.24769330]

>>24769291
yes

[Anonymous No.24769344]

>>24769291
Yes

[Anonymous No.24769574]

Yes.

[Anonymous No.24769674]

OP was linked to this book in another thread as a reply to why bitcoin matters or something, and pic in OP was his shocked-face that someone would dare explain a crypto by not first appealing to what kind of ghey apps or scams it can run. The shocked face of a redditor upon discovering bitcoin was principally an economic innovation, and not the faggy web-app silicon valley nonsense they were hoping it was about as a newfag. Crypto-kitties is probably more understandable and useful to OP.

[Anonymous No.24769847]

>>24769674
>If the modern world is ancient Rome, suffering the economic consequences of monetary collapse, with the dollar our aureus, then Satoshi Nakamoto is our Constantine, Bitcoin is his solidus, and the Internet is our Constantinople. Bitcoin serves as a monetary lifeboat for people forced to transact and save in monetary media constantly debased by governments. Based on the foregoing analysis, the real advantage of Bitcoin lies in it being a reliable long‐term store of value, and a sovereign form of money that allows individuals to conduct permissionless transactions. Bitcoin's main uses in the foreseeable future will follow from these competitive advantages, and not from its ability to offer ubiquitous or cheap transactions.

[Anonymous No.24769935]

scarcity is irrelevant if the good in question is worthless. there are many things in the world that are 'scarce', but we dont use them as a store of value. why? because theres no value to store unless the good in question has some form of utility that the free market deems valuable.

only commodities can be 'stores of value' because only commodities have 'value' in and of themselves, in their utility. Bitcoin has no utility.

Gamblers will argue 'but bitcoins utility IS as a means of exchange'. No. we've come full circle. Only a commodity can be a means of exchange, because a means of exchange must also be a store of value. which bitcoin can never be. simple as.

[Anonymous No.24769984]

>>24769847
>If the modern world is ancient Rome, suffering the economic consequences of monetary collapse, with the dollar our aureus, then Satoshi Nakamoto is our Constantine, Bitcoin is his solidus, and the Internet is our Constantinople.

holy reddit bagholder cope. we literally have the exact equivalent of the solidus today - pure physical gold. instead gamblers want to create a solution to a problem that doesnt exist

[Anonymous No.24769996]

>>24769291
Yes.

[Anonymous No.24769997]

>>24769291
Nah bro, Peter Schiff is right. I’d rather pile up gold bullion in my basement and let it rot there until the 0.00175% chance hyperinflation occurs and I can use it as money.

[Anonymous No.24770006]

>>24769935
>>24769984
>Bitcoin is gambling / a speculation bubble

Yes, but pls don't say that because I need more people to buy bitcoin or the pyramid will collapse!!

[Anonymous No.24770017]

>>24769997
>prints half of your money ever in one year
nothing personnel

[Anonymous No.24770029]

I feel like a fucking dentist after being bombarded by this meme for months

[Anonymous No.24770031]

>>24769997
>until the 0.00175% chance hyperinflation occurs

ok JP

https://www.goldmoney.com/research/goldmoney-insights/the-emerging-evidence-of-hyperinflation

[Anonymous No.24770052]

>>24769935
>>24769984
listen here you babbling idiot, the free market has determined that bitcoin has a market cap of 350 billion dollars and 200+ billion for several months. i give that more credence than you pathetic coping brainlets trying to make sense of something you don't understand.
bitcoin's main utility lies in strict scarcity and international online settlements. name your favorite precious rock or corrupt bank that lets you transfer $100k to a wallet in China for a couple dollars in fees in under an hour without requiring permission from a third party.
now i'm done spoonfeeding, stay poor or learn something for once.

[Anonymous No.24770056]

Fuck the ccp
Fuck the wef
Fuck the rockefeller foundation

[Anonymous No.24770126]

>>24770052
Wow OP proved he wasn’t a faggot for once

[Anonymous No.24770159]

>>24770052
you think your digital vapourware has value simply because its scarce. you think that you can transfer it easily across the globe because its a brilliant means of exchange, as opposed to the fact that is as worthless as thin air and therefore just as easy to transport. you think that just because hordes of mindless retail investors are pilling into your speculative bubble, that the free market is determining that bitcoin is the new means of exchange.

if bitcoins strict scarcity is its inherent value and utility, why aren't any and all of its countless carbon copies(which also have strict supplies) of equal nominal value?

You are desperate to justify your beliefs because if you're wrong, you will not become wealthy and escape your shit life like you think you will. It's ironic, because enormous wealth is still available to you if you were to just open your eyes.

[Anonymous No.24770167]

>MAGIC INTERNET MONEY MAKE ME RICH

[Anonymous No.24770197]

>>24770052

[Anonymous No.24770218]

>>24770052
>listen here you babbling idiot, the free market has determined that bitcoin has a market cap of 350 billion dollars and 200+ billion for several months. i give that more credence than you pathetic coping brainlets trying to make sense of something you don't understand.
bitcoin's main utility lies in strict scarcity and international online settlements. name your favorite precious rock or corrupt bank that lets you transfer $100k to a wallet in China for a couple dollars in fees in under an hour without requiring permission from a third party.
now i'm done spoonfeeding, stay poor or learn something for once.

[Anonymous No.24770222]

>>24770159
listen here brainlet...this isn't just about ME or any regular joe on biz anymore. btc isn't some obscure shitcoin trading for $10 billion market cap anymore. its network is worth $100+ BILLION now, they are institutional investors putting their face and company out there investing in this now. you are beyond late arguing against its utility now. it's too late. bitcoin already won, and so have people like myself who have been in for years. you need to go back and cope somewhere else.

[Anonymous No.24770227]

>>24770218
>Q6Ys2a3D

[Anonymous No.24770231]

>>24770222
>listen here brainlet...this isn't just about ME or any regular joe on biz anymore. btc isn't some obscure shitcoin trading for $10 billion market cap anymore. its network is worth $100+ BILLION now, they are institutional investors putting their face and company out there investing in this now. you are beyond late arguing against its utility now. it's too late. bitcoin already won, and so have people like myself who have been in for years. you need to go back and cope somewhere else.

[Anonymous No.24770243]

>>24770227
>>>24770218 (You)
> >Q6Ys2a3D

[Anonymous No.24770248]

>>24770231
>>listen here brainlet...this isn't just about ME or any regular joe on biz anymore. btc isn't some obscure shitcoin trading for $10 billion market cap anymore. its network is worth $100+ BILLION now, they are institutional investors putting their face and company out there investing in this now. you are beyond late arguing against its utility now. it's too late. bitcoin already won, and so have people like myself who have been in for years. you need to go back and cope somewhere else.

[Anonymous No.24770279]

>>24770222
It's 'network' is worth nothing. It's not like an equity, where each bitcoin represents ownership of a company that can create profit. The only 'value' you have is a digital 'asset', which has no utility, which you speculate you can sell to some other fool for a higher price than what you paid.

you didn't address my point on scarcity because you have no argument.

[Anonymous No.24770314]

>>24770279
>It's 'network' is worth nothing. It's not like an equity, where each bitcoin represents ownership of a company that can create profit. The only 'value' you have is a digital 'asset', which has no utility, which you speculate you can sell to some other fool for a higher price than what you paid.

>you didn't address my point on scarcity because you have no argument.

[Anonymous No.24770320]

just nuke the human race honestly

[Anonymous No.24770321]

these ahegao faces are fucking hot

[Anonymous No.24770341]

>>24770279
>if bitcoins strict scarcity is its inherent value and utility, why aren't any and all of its countless carbon copies(which also have strict supplies) of equal nominal value?
i addressed it multiple times. hard forks can't succeed because their network isn't worth 100+ billion fucking dollars. this is what was holding back many wealthy skeptics who are now in because bitcoin's network has survived and proved to be dominant compared to the rest in crypto. go read the bitcoin standard and saylor's interviews.

[Anonymous No.24770362]

>>24770321
>these ahegao faces are fucking hot

[Anonymous No.24770420]

>>24769291
That's why it will be prohibited. States can't allow the perfect saving. It would blow their state debt because the normalfag could escape the inflation that is needed to manage debt.

[Anonymous No.24770526]

>>24769291
Yes

Once you understand what bitcoin actually is then you understand that

Satoshi Nakamoto Blvd should be a street a in every freedom loving city in America