/biz/ - Business & Finance

[Anonymous No.25007735]

>Tfw you're too smart for Bitcoin

[Anonymous No.25007752]

I bet this fucker and Kevin both have at least 1 btc

[Anonymous No.25007760]

>>25007735
BOOM

[Anonymous No.25007877]

>>25007735
What does that even mean?

[Anonymous No.25007954]

>>25007877
It means he's correct in the ultimate sense, in the world that truly matters: the platonic realm. He should have realized however this is the world of stupid grunting beasts who can't appreciate his truths and so of course would be foolish enough to pump bitcoin. Got a little carried away with his philosophical rigor regarding intrinsic value... It's a mistake many geniuses make.

[Anonymous No.25007980]

>>25007735
He clearly owns Bitcoin at this point. He has owned it for ages. He's literally hedged against it in gold so if Bitcoin goes up, as he advertises, his value goes up. If bitcoin goes down, Gold goes up, and he's hedged against it too. Stop thinking everything is literal and people are genuinely dumb.

[Anonymous No.25008041]

This poor guy thinks people care about BTC fundamentals being absolute trash. Him no understand orangecoin make boom boom.

[Anonymous No.25008099]

>>25007954
get over yourself. he had a failed thesis and missed a giant opportunity because he didn't, and still doesn't, understand what makes Bitcoin fundamentally valuable. this is just his conceited way of admitting the markets proved him wrong while still clinging to the delusion that his ideas should have been right. utterly pathetic

[Anonymous No.25008121]

>>25007980
So is this the official narrative of /pmg/ now? That Peter doesn't believe fucking any of what he says regarding bitcoin, not even that gold is a better investment, and is just kiking over his stupid followers like the anons of /pmg/? I keep noticing this line of thinking in your post come up... Surely some of the /pmg/ anons come out of their containment thread every once in awhile and comment on the number one gold bug who has influenced so many to go into gold over bitcoin? So Peter doesn't believe a word of his own spiel, and so it's blatantly obvious even to him (one of the biggest public gold bugs) that bitcoin is a better investment.

>>25008099
Yeah I agree, I was making fun of him for what you just said.

[PMG BAKER No.25008322]

>>25008121
I do have some crypto, but it is less than 1% of my portfolio. I do acknowledge bitcoin as a benchmark hedge for the crypto marker, however CBDC's will make it irrelevant with the new news from the IMF this week.
https://gizmodo.com/your-credit-score-should-be-based-on-your-web-history-1845912592
https://blogs.imf.org/2020/12/17/what-is-really-new-in-fintech/
You can see people piling onto bitcoin in a mania, but I along with many other people do not see the historical trend lines to say it is worth holding onto. Especially when gold was tested during the GFC when the Eurodoller system died, and when the dot com bubble popped. You have the covid crisis hit, but it did not go as big as those two. You can say the debacement of world currencies at the moment will let the bitcoin be undervalued. However, we did not see it during a reset event which gold has done multiple times. You can mention venezuela, but that is not a major player on the GLD or international geopolitics. The last point it the fact that the only store of value it has in on block chain which is in direct competition with hash graph. The programmers who mentioned bitcoin said that once you have over 50-60% of all the computing for mining bitcoin in one user, then you can make up bitcoin and no one will notice.

TLDR, unless your side addresses the lack of history with crisis, hashgraph, store of value, tether, and all. I can say a short to mid term bull on it, but long term bearish outlook which does not bode well for me when silver and gold is more undervalued than ever,

[Anonymous No.25008334]

>>25008121
Peter Schiff is controlled opposition. He will join the bitcoin crowd when tptb need him to generate a groundswell of support for a scam that will herd people away from a solution that will actually work to escape the current monetary system, namely PMs. It looks like that time has come. Obviously a lot of people are getting interested in alternatives to stonks, bonds, dollars, etc. Just look at how many celebrities are suddenly talking about Bitcoin. "One word: Bitcoin" is the new cliche for grug brain retarded normie masses to follow, and Peter Schiff endorsing Bitcoin when he used to staunchly oppose it and support gold/silver will make PMs look especially bad because of how autistically he defended it even when his bubble theory of economic collapse has failed to pan out multiple times.

[Anonymous No.25008343]

>>25007735
Imagine how fucking salty this dude must be. KEK.

He could still be early for ARPA / Bella protocol tho. But he won't. Most of you won't.

[Anonymous No.25008351]

Look at the retard and laugh

[Anonymous No.25008385]

>>25007752
>1 Btc
Kek
He was a already millionaire fund manager back in 2010, when he first heard about bitcoin
You’re a brainlet if you think he didn’t throw 10k at it at that time just for shit and giggles

[Anonymous No.25008395]

This is what he meant. This anon sums it up perfectly.

[Anonymous No.25008484]

>>25008121
>Surely some of the /pmg/ anons come out

To remind you shitcoin bagholders that the word of a Jew regarding gold of all things is essentially worthless. I started buying BTC in '14 and while it's been an interesting ride, physical silver and mining stocks are where you want to be right now. Instead you're getting your info from the Ledger hack disseminated far and wide to be used as the basis of the IRS' next big door-knocking list after the pajeet phisherman have their way with your emails and cell numbers, LMAO.

[Anonymous No.25008605]

>>25008121
i'm a bullionfag but peter 100% holds a decent amount of btc and is thoroughly enjoying the gains

[Anonymous No.25008921]

>>25007735
Is that Schiff capitulation?
IS THAT SCHIFF CAPITULATING???

[Anonymous No.25009204]

>>25008395
based. wise words from clownanon

[Anonymous No.25009228]

Gold fags are hilarious the absolute cope.


5 years a go bitcoin was going to disappear any moment now, suddenly now you all secretly have bitcoin and it's probably going to do well midterm
Hahaha give me a fucking break.
BTC will unironically replace your shiny piece of metal and we are doing you a favour. Unlike Gold central banks can't dump the btc price with made up btc
Look at gold prices now tell me that shit is not being supressed, and there absolutely nothing anyone can do, central banks literally making up gold out of thin air and dumping it ok the market.

[Anonymous No.25009266]

>>25008921
no he's ratcheting up the smug self indulgence by saying he was too smart to predict how stupid people are

[Anonymous No.25009697]

>>25009266
I still think it is the first step in capitulating
If you look at gold priced in bitcoin it's truly pathetic over the last few years
Gold went from hundreds of bitcoins, to a few bitcoins to less than one bitcoin, though still a significant portion of one for a long while, to a worthlessly small amount of bitcoin
And after this next year even that worthlessly small amount will be instead an enviable one

[Anonymous No.25009730]

>>25009228
Go to any PM shop in your town or even online bullion dealers. The prices consistently have a premium on them. The real price is diverging from the manipulated paper spot price set by the COMEX

[Anonymous No.25009762]

>>25008395
good advice

[Anonymous No.25010507]

>>25007735
Schiff is a jewish name

[Anonymous No.25010560]

>>25008385
you overestimate him
his fund is down in the dumps
everyone of his old clients hate him
the guys that like and follow him don't have accounts with him

[Anonymous No.25010581]

>>25007980
have you seen EUROPAC performance?

[Anonymous No.25010623]

just to make things clear

schiff still misses the mark on bitcoin's BFT
he has NEVER given any alternatives

in fact, he came close to needing BFT this year, when the AUS 60min did a hit piece on him

he was lucky that it was just australia, if US 60 minutes went after him, he might have had problems

[Anonymous No.25010677]

>>25010507
German name, dumbass

[Anonymous No.25010856]

>>25010677
https://en.wikipedia.org/wiki/Peter_Schiff

>early life
>middle-class jewish family

[Anonymous No.25010877]

>>25009730
Silver doubled value since I bought the dip. It was an ideal trade at the time, bought literally at the bottomest point. If I sold now, I would barely make gauns, if any, just because of premiums let alone taxes.

[Anonymous No.25010894]

>>25007877
It’s cope. He can’t just say “I was wrong about bitcoin” because his ego is too big so he has to say that he’s just such a big brain thats why he’s late instead of early

[Anonymous No.25010988]

>>25010856
I already know that, Schiff is a typical German name though
It's not even Yiddish

[Anonymous No.25011094]

>tfw you're too shrewd to profit

[Anonymous No.25011202]

>>25007954
kek. exactly. Bitcoin is shit, he says, and he's right! But the crowd loves shit! So he will act accordingly. So smart.

[Anonymous No.25011203]

>>25010560
Peter Schiff's net worth is estimated to be $70 million.
He own an asset management firm, a bank, and a bullion dealing business.

[Anonymous No.25011426]

>>25008322
Comparing cbdc to btc reveals your ignorance. btc is THE reserve assets for cbdc

[Anonymous No.25011436]

>>25007877
dunning kruger effect

[Anonymous No.25011463]

>>25007735

[Anonymous No.25011477]

>>25007954
i been over this in 2017
you are NOT smarter than the market

[Anonymous No.25011509]

>>25007735
>>25011463
>tfw if you were 30 iq points dumber you'd be a billionaire

[Anonymous No.25011545]

>>25011509
:(

[Anonymous No.25011553]

>>25007980
His son has been shilling btc on twitter for 6 months kek

[Anonymous No.25011568]

>>25008099
>what makes Bitcoin fundamentally valuable
please enlighten us

[Anonymous No.25011586]

>>25008322
Waste of dubs and you sound so fin stupid, why is it you idiots compare centralised stable coins to btc as though they’re competitors? It’s like newfags can’t see in 2-3 years binance will have cbdc pairings

[Anonymous No.25011614]

>>25011568
it is the closest thing to the abstraction of what "asset", what "property" means humans will ever get to. at some point in the future wealth WILL be measured in bitcoins, universally. it's not a question of IF but WHEN.

[Anonymous No.25011628]

>>25010856
jew, btc hater .. go figure

[Anonymous No.25011639]

>>25007877
he was so smart he stopped being smart and became retarded

[Anonymous No.25011642]

>>25011545
So painfully fucking based, can you imagine being such a Chad that you feel it with that much emotional intensity?

[Anonymous No.25011657]

>>25011614
Only if you assume no systemic failure of any kind along the way. We live in chaotic and dangerous times and there's always randomness.

[Anonymous No.25011725]

>>25011545
That’s not smart, that’s a midwit. There are many many around and they’re unsuccessful people, only a midwit would believe while not believing in btc he could magically hold from 2010 to ath, nice fantasy but not productive thoughts

[Anonymous No.25011733]

>>25011657
fine, wealth WILL be measured in some form of cryptocurrency. bitcoin is just by far the most likely to be that one. the only way it can go down is if someone figures a way to derive private keys from addresses (algorithm like that isn't even known for quantum computers), WITHOUT there being any warning signs this could happen in the future, and the network doesn't have time to migrate over to a different algorithm.

[Anonymous No.25011735]

>>25011545
>midwit thinks he's smart
The stupid are reckless and can lead to all sorts of things, excellent or horrid. The midmwit is risk-averse and so he can lose on fantastic opportunities but he won't be reckless either. The smart do what the midwit would find reckless when it is just their ignorance that makes it seem so.

[Anonymous No.25011743]

>>25011545
This was me when I came to /biz/ and people were like theres no future in this it's all bullshit...much regret

[Anonymous No.25011788]

>>25011733
Anon, I meant systemic failures in the physical world. Shit that could halt our progress or make us regress. Natural catastrophes, wars, etc.

I'm also bullish on crypto in general, my entire portfolio that isn't property is in it, but one has to be aware of the dangers.

[Anonymous No.25011821]

>>25011788
>Shit that could halt our progress or make us regress
that doesn't matter, bitcoins cannot be lost. even if the internet goes down, all copies of the public ledger cannot be destroyed. those who store their private keys securely will have the exact same amount of bitcoins back when civilization gets back on track

[Anonymous No.25011834]

>>25011821
>bitcoins cannot be lost
lost/confiscated from a SMART player.

[Anonymous No.25011899]

>>25009730
PM shops are jewish scams.

They sell above spot and buy below spot. PM's are a scam.

[Anonymous No.25011924]

>>25011735
The midwit loses cause he’s never even in the game, he’s overthinking it all on the sideline and tends to cope heavily. Like the post above talking about what “if” he just bought the held from 2010, but was too “smart” for that. Kek, a lot of actual geniuses were in early on crypto

[Anonymous No.25011935]

>>25011821
>when civilization gets back on track
If. Also you can't say anything about its valuation after such events.

[Anonymous No.25011950]

>>25011735
Yep*

[Anonymous No.25011956]

I'm smart enough for GRT tho

[Anonymous No.25012016]

>>25011935
ok, if mankind destroys itself there won't be any store of wealth it's true kek

[Anonymous No.25012031]

Imagine believing for a second that a kike like Schiff, who has been one of the most vocal decades long dollar bears, doesn’t own bitcoin? For as autistic a community as /biz/ is, I figured someone would’ve made the connection. Fucker was probably buying bitcoins for his PA back in 2014.

[Anonymous No.25012359]

>>25007735
top kek what a retard

[Anonymous No.25012813]

>>25011477
Low iq take. The market is just a collective of what everyone thinks so it basically reflects the average iq which is pretty damn low. This is what shiff meant by his tweet. Bitcoin appreciates because people are actually retarded and don't understand that it is not valuable and fundamentally flawed in various ways.

[Anonymous No.25012918]

>>25011614
Y do u think so? Because there is no need for 3rd party?

[Anonymous No.25012959]

>>25012813
You are a total midwit it's hilarious you think you just said something intelligent

[Anonymous No.25013042]

>>25012959
Nice arguments bro, you sure got me there buddy. You are clearly extremely intelligent.

[Anonymous No.25013103]

>>25008334
everything is controlled opposition to you people lmao
Peter's just a smart old guy hedging his bets and having some fun with it
There actually exist independent actors from the jews aside from you, believe it or not

[Anonymous No.25013225]

>>25012813
Seen variations of this argument posted on /r/buttcoin all the time. It's just massive cope. "Bitcoin is now too big to fail... It would've failed if less people were buying it!" "it would've failed if it wasn't so popular!" I mean come on now sonny. What kind of argument is that?

[Anonymous No.25013255]

>>25012813
>The market is just a collective of what everyone thinks so it basically reflects the average iq which is pretty damn low.
no the market is everyone the smartest and the dumbest but it's collective intelligence and ability to price in every available information far surpasses yours brainlet.

but that's not why they say the market is always right.

[Anonymous No.25013321]

>>25008395
yea... i'm thinking i needed this advice. saved and thanks clownanon

[Anonymous No.25013343]

>>25013225
nocoiner cope, been there i tried to find rationals behind the 2017 pump (exited too early) but there was none. then i understood a year later it's just human nature and pointless to fight it. i also understood that anything below $350k is way underpriced for bitcoin and there is no such thing as top when the money printer goes brrrrrrrrr.

[Anonymous No.25013356]

>>25012918
because you can store ANY amount of wealth solely by remembering a 12 word long phrase if you need to. you can transfer any portion of that wealth to anywhere in the world as long as you have access to internet. even if you don't, you can travel with your wealth without having any ballast on you. nobody who is searching your home can find your wealth. nobody can even prove you still own that wealth.

what other asset class is capable of this?

[Anonymous No.25013435]

>>25013356
yeah bitcoin did great against inflation and it's the most cheaply secureable asset on earth that you can TRULY own in a private manner.
all other ownership in your life is from someone else's grace. some authority grants you that right. but in reality you own nothing that can not be taken away from you. except bitcoin.

[Anonymous No.25013464]

>>25007735
YOU WILL NOT SMART YOURSELF ON #BITCOIN
YOU WILL FEEL GOOD LIKE NEVER BEFORE

[Anonymous No.25013485]

>>25013255
>the market is always right
This is another brainlet cope. If the market was right there would be no opportunities to make profit. It is because the market is so often priced stupidly that you can actually make serious money by buying what is undervalued and selling when it becomes overvalued. This obviously doesn't apply to crypto because as a pump and dump or ponzi investment it is simply government by one rule: are there buyers after you have bought? In other words, is the top in or can you still dump your bags for someone who comes in later and make profit.

[Anonymous No.25013542]

>>25013485
it's the most absolute truth there is out there. the market is always right because it literally is the arbiter that by you get your profit or loss.

there is no one to appeal. you dumb shitstain.

[Anonymous No.25013562]

>>25007752
Niggers have 1btc, i bet rich millionaire like peter who knows gold and understand store of value and talks nontstop of bitcoin has been buying for years. He has more than 100btc, how much more that we dont know, yet.

[Anonymous No.25013574]

>>25013562
if not him then his son

[Anonymous No.25014451]

>>25013562
he may change his tune but it’s simply because btc is getting all the attention and it’s impossible to deny the roi, doing so he just looks stupid. He will change his tune slightly to get attention, then take a big steaming shit on bitcoin from time to time. We don’t want him, he’s a scumbag in general he’ll do what it takes to get back on tv/cnbc. They Havnt Asked much from him since his 5k gold calls back in 2012 and being a huge equities bear, he rekt a ton of people with his calls

[Anonymous No.25015246]

>>25010988

Nope, Schiff is a super jewish name.

https://youtu.be/6sM3KOYPL_A?t=83

[Anonymous No.25016195]

>>25008322
>https://blogs.imf.org/2020/12/17/what-is-really-new-in-fintech/

"...Recent research documents that, once powered by artificial intelligence and machine learning, these alternative data sources are often superior than traditional credit assessment methods, and can advance financial inclusion"

It will take a while to get through the regulations to give companies access to that level of data. Throwing a lot of data at ML algorithms will produce fragile solutions that can and will be exploited.

Not betting on this in the short to middle term.

[Anonymous No.25016300]

Let's establish some simple facts:
(((They))) own most of the gold that has been hoarded and plundered for thousands of years
(((They))) can transmute metals into gold

Any shiny rock imbecile telling you Gold is the solution to the worlds problems is clinically retarded.

[Anonymous No.25016401]

>>25011568
Ez... there are more buyers than sellers. These "experts" who are bent out of shape over the cost of mining are missing the crowds of the markets. Also, they don't see the similarities with holding stocks with triple digit P/Es.

[Anonymous No.25016404]

>>25007752
his son is into crypto mainly bitcoin. sure he had him buy more than a 1 btc stack

[Anonymous No.25016454]

HE'S CAPITULATING
He's still going to fall for the bear trap though.

[Anonymous No.25016460]

>>25016401
The market commands the price. There's nothing else to say about the "intrinsic value".

[Anonymous No.25017238]

how many coins do you have to sell to move the price?

[Anonymous No.25017409]

>>25007735
This is not on his twitter feed. He said this months ago.

[Anonymous No.25017713]

>>25008099
This.
Schiff is nearing capitulation.
He was wrong.

[Anonymous No.25017876]

>>25007735
>Damn
>Foiled again

[Anonymous No.25017964]

>>25007954
Intrinsic value requires consciousness. There is no platonic intrinsic value. The value COMES FROM THE STUPIDITY OF THE GRUNTING BEASTS.

[Anonymous No.25018247]

>>25017409
https://twitter.com/PeterSchiff/status/1340846569344671744
As a bonus
>Even Peter thinks it's totally possible Bitcoin will reach Gold Market up
>He still will not admit he's wrong
>A single Bitcoin will literally be worth 500,000 USD at that point

There is no way he doesn't own Bitcoin

[Anonymous No.25018295]

>>25007735
GODL

[Anonymous No.25018539]

>>25018247
This. He's not stupid. Of course he's balls deep into bitcoin. But he made a business around selling gold, so he's not going to just give up that business. He has a responsibility to his shareholders, so of course he's going to continue to shill gold as the best asset. But he'd have to be REALLLLLY stupid to not be personally invested in BTC at this point, and he's not.

[Anonymous No.25018733]

>>25018247
>>25018247
>There is no way he doesn't own Bitcoin
Schiff does not own bitcoin, you schiff cuckbois.
Schiff invests like a rational libertarian academic.
Schiff believes the rest of the world invests like a rational libertarian academic.
Schiff is already rich from charging egregious 5% front/back-load mutual fund fees & expensive active management fees.
At this point, Schiff would rather be proven right than make $ on BTC.
He has already doubled, tripled, quadrupled down on BTC going down, like the tulip bubble. Wrong, wrong, wrong, and wrong again.
He is unable to say "I was wrong", yet. He is getting very close to capitulation.
Case closed.

[Anonymous No.25018745]

>>25007735
>spend a decade discrediting an asset while it goes up 100000x
>billionaires, investment funds, banks and nation states invest in it
>atleast I'm smarter than you, h-hehe

Jesus christ, talk about nuclear amounts of cope. The final stage of the nocoiner when crypto becomes the world's reserve.

[Anonymous No.25018780]

>>25018733
*Correction, IIRC, some anons randomly sent BTC to Schiff AND he lost the fucking private keys.
lol.
Almost forgot about that.

[Anonymous No.25018888]

>>25018247
>>25007735
How much cope?

[Anonymous No.25019121]

>>25007735
>>25018247
>>25018888
at least he's learned not to make tweets that'll make him look like a total retard

[Anonymous No.25020060]

If Schiff really, truly were so smart; why is it he was unable to read the market? It's pure, unadulterated cope on his part. I dgaf if he has 70M usd, doesn't make him infallible.
You might claim he's held BTC all along, but it shouldn't exclude him from criticism. He was either fantastically wrong about BTC, or he's a total cunt who sold out all his followers. You choose.

[Anonymous No.25020181]

>>25007877
He is the guy that is bobo posting during a bull run.