Bitcoin has no intrinsic value

[Anonymous No.26182349]

You cannot make jewelry or computer microchips with Bitcoin. Therefore, it is not a store of value, like gold.

[Anonymous No.26182389]

>>26182349
if it moves, I trade it.
who cares what the boomer thinks?

[Anonymous No.26182408]

>>26182349
ok drop-shadow schiff, whatever you say

[Anonymous No.26182423]

>>26182349
oh peter, this again?

[Anonymous No.26182452]

>>26182349
You can't make chips without silicon, maybe we should be investing in sand

[Anonymous No.26182483]

Someone give him covid

[Anonymous No.26182500]

>>26182349
I can buy exclusive luxuries and services with bitcoin everywhere. Can I do safely the same with USD?

[Anonymous No.26182511]

>>26182389
>also forgot to add:
After reading his book and independent research I agreed believed he was accurate in the government being bankrupt.

As I thought this was a sound foundation to capitalize on I invested everything I and my wife had saved from 57 years as a Fire Marshall and teacher for the mentally disabled.

With our 843k we meet with peter bridled before being quickly passed to a "broker". Although salesman/ con artist may be more apt.
He pushed us to invest in a South-East gold mine- in just 3 weeks we lost a 347k. Although we had plenty of worthless shares..

Our original "broker" quickly fell out of the picture and after no communication for 3 months- short of occasional email with links to his pod cast- we went to the office in person.

After many frustrating conversations we were provided a new "broker". Although we were charged for this transfer of accounts.

For the next few years we continued to lose time and time again. In total we had 4 different brokers.

In 2015 my dear wife of 52 years passed.

The only money I had left was still wrapped up in our accounts.

After much effort I was able to speak with Peter. I told him about Mar's passing and that I needed to close the accounts so I could pay for the funeral.

I was also hoping to bring our mentally disabled granddaughter to Disneyland.
A sort of distraction from the grief we all felt.

After reviewing our accounts I have as told that ; of the initial 750k we were down just 4K , plus the many many hundreds of shares in company's that we're essentially worthless.

And although he was aware that I needed to draw down and close our accounts so I could give my wife the best funeral she deserved and take our mentally disabled granddaughter to Disneyland he said I would have to pay a 2% closing fee.

[Anonymous No.26182554]

>>26182349
The concept of intrinsic value has no intrinsic value.
>It's a confidence game.
So is everything.

[Anonymous No.26182618]

>>26182349
A system of money is valuable in and of itself for what it facilitates. It's a social system and a public good. Libertarians want to describe money as arising accidentally through barter which is pure ideology. In reality, the social system precedes and generates the individual just as the forest precedes and generates a tree. Money was an intentional design from the beginning not a byproduct of economic atoms blindly bumping into each other.

[Anonymous No.26182731]

>>26182349
He's a literal Jew, fuck what he thinks

[Anonymous No.26182887]

>>26182618
>Money was an intentional design from the beginning
got any evidence for this claim?

[Anonymous No.26183201]

>>26182511
larp (ancient boomers don't post on biz). in extremely unlikely case that this isn't larp - can't see anything other than you making a stupid mistake trusting with ALL your funds to some shitty broker. And not even diversifying 10% into physical gold. Had you read his book you would have known that. Like I said, a larp. and a weak one too

[Anonymous No.26183701]

>>26182389
Thus, it is a speculative asset, and it’s only value is the hope is someone will pay a higher price for it

[Anonymous No.26184049]

>>26182887
Don't you fucking basedjack me when neoclassical economics is the biggest onions of them all.

Only clueless economists are still clinging to the barter myth. Historians and anthropologists (and now cryptographers) have moved on. Read Debt by David Graeber. I had trepidations about it because he was a jewish ancom, but it was a great read. Fwiw I used to be an ancap and I've read through the Mises Institute library. I am now basically a traditionalist reactionary.

Money was originally a system of accounting that arose from temple complexes. The barter story did not happen. Barter is sporadic and almost always occurs in a hostile or ritualistic context.

[Anonymous No.26184226]

>>26182349
You could say the same for fiat.

[Anonymous No.26184297]

>>26182389

It's afraid.

[Anonymous No.26184330]

>>26182349
>Bitcoin has no intrinsic value
It does because there's never been a public record in human history that can't be altered through brute force. Now it's here and we're only just beginning to see the shockwave.

[Anonymous No.26184337]

>>26183701
>Thus, it is a speculative asset, and it’s only value is the hope is someone will pay a higher price for it


Thus goldbugs talk about Gold's price because they wish to sell it to another at a higher price.

[Anonymous No.26184780]

>>26184226
You are 100% correct. One should only hold equities, real estate, and commodities (excluding Bitcoin)

[Anonymous No.26184845]

>>26184226
not so fast

[Anonymous No.26184843]

>>26184337
People can attempt to speculate or pump/dump gold. But, at the end of the day, the gold as a real use/purpose and Bitcoin does not.

[Anonymous No.26184924]

>>26182349
thats right faggot! but gold is 1700, Bitcoin is 36k

[Anonymous No.26184960]

>>26182349
Gold only has value because you can make microchips with it to make bitcoin

[Anonymous No.26184992]

>>26182349
>Bitcoin has no intrinsic value
I can put my balls on central bank's and swift faces

[Anonymous No.26185004]

>>26182452
Silicon is not the bottleneck nigger

[Anonymous No.26185017]

You know, I wanted to bring up the Old Miser and the Thief that boomers use to denounce bitcoin.
How does this argument hold water?

Didn't the thief eventually take the miser's gold and he himself use it as currency? and when gold was currency in history, people were still trading?

I don't get why so many boomers believe that inflation is good, and drives us to part with our money. There are misers with dollars, misers with gold and will be misers with bitcoin.

The argument gets uber retarded, when people who bought bitcoin for 0.1$ sold it at 1 dollars, and people who bought at $1/btc, sold at $10/btc, and people who bought at $10/btc, sold at $100/btc, and people who bought at $100/btc, sold at $1000/btc, people who bought at $3000 sold at $20,000/btc

and people who bought at $20,000 will sell at $100,000/btc.

A massive group of people who bought btc through the years parted with it once they reached 20x gains when they reached unimaginable wealth.

Also, if your money is worth more and more in the future, the Old Miser and the Thief is a tale of the why people shouldnt be Misers in a deflationary currency system. The miser kept his gold because he was hodling to infinite gains, and everyday his lack of spending meant his wealth grew to the risk of being gone.

I just feel like the inflation is good argument is complete bullshit, cause people hoard dollars in saving account all the fuckin time.

[Anonymous No.26185031]

>>26182349
Bitcoin has a young, intelligent network that believes in it and value it. That's all that matters

[Anonymous No.26185048]

not supporting this Shiffcuck or anything but hear me out

bitcoin is tech, what happens when something better than bitcoin comes out, literally everyone is attempting to do that, its not like theres 10-20 bitcoins, theres fucking 21 mil cap, you can't even keep it to have it as form of art, so what happens when it gets replaced?

[Anonymous No.26185071]

>>26182349
Why do people worship this guys advice so much when he inherited 20m as his “start” which is almost as bad as dan bilzerian, the self made crypto chad shits on his head

[Anonymous No.26185126]

>>26185004
neither is gold retard, its not the quantity of gold needed either (which is basically negligible) its the ridiculous amounts of processing that goes into making bonding wire. arguably even more processing needs to go into the silicon itself to fabricate the wafers. A single die is way more expensive than the two inches of gold bonding wire attached to it

[Anonymous No.26185389]

>Problems With Gold Standards

>When considering gold as a currency, many people support moving back to some form of the gold standard. There were various problems with earlier gold standards.

>One of the main problems was that the systems were ultimately reliant on central banks to play by the rules. The rules required central banks to adjust the discount rate to maintain fixed exchange rates. Fixed exchange rates sometimes resulted in high interest rates, which were politically unpopular.3 Many countries chose to devalue their currency against gold or the U.S. dollar instead.

>A second problem with the gold standard was that there were still short-term price shocks, despite long-run price stability. The California gold discovery of 1848 is an excellent example of a price shock. This gold find increased the money supply, which raised expenditures and price levels, creating short-run economic instability. It should be noted that such economic disruptions did occur under gold standards. Also, every attempt to maintain a gold standard ultimately failed.

imagine solving both these issues and having a problem with it

[Anonymous No.26185432]

>>26182349
lol at people paying money for 1s and 0s. I can create those with a text editor, plz pay me 999999999999 buxx haha

[Anonymous No.26185496]

>>26185031
Bitcoin is a watered down fiat currency. It is vastly to superior to fiat currencies that can be printed by central banks, but the value of Bitcoin is still embedded in faith that it will be widely accepted by others as a currency, as it otherwise has no real use or purpose.

[Anonymous No.26185734]

>>26185048
>[category winner of a category with a big lead to competitors in same category] is [human created], what happens when something better than [category winner of a category with a big lead to competitors in same category] comes out, literally everyone is attempting to do that, its not like theres 10-20 [purchasable unit of said category winner] , theres fucking [certain amount], you can't even keep it to have it as form of art, so what happens when it gets replaced?

[Anonymous No.26185780]

>>26182349
does oxygen have intrinsic value?

[Anonymous No.26185836]

>>26185734
category winner for now, but one thing is permanent - change. So what the fuck happens when btc gets replaced?

[Anonymous No.26186177]

>>26185836
i will say this.

It'll take a massive movement to dethrone bitcoin as well likely. or at least have a competitor to overtake it.

and it will do it because of truly massive issues, of which there is currently none, not for a long time.