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/biz/ - Business & Finance

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4534596 No.4534596 [Reply] [Original]

I only got a couple

> bitcoin has a high price but not a high value
> bitcoin takes so much energy to use you could heat a house for the amount to use 1 coin.
> wherever it ends up in 5 years I still stand by what I say.

Pour unrelated

>> No.4534615

>>4534596
Just people so brainwashed they don’t understand what money really is; information.

>> No.4534624

>>4534596
I actually had some good talks. Everyone seemed kinda jealous that I bought bitcoin at $600. The key is to be honest about the extreme volatility and hate on bitcoin because you honestly believe it's terrible. Bitcoin sucks. My mom was actually very interested to hear about things like ripple, link, and eth and how they might change the way banks and businesses operate. It's also important to never talk about it unless you're asked, and even if they ask once just answer and then stop talking about it until they ask again. No one likes someone who constantly talks about anything.

>> No.4534633

>>4534615
Brainwashed yes, but this was from very smart guys. Just too much conditioning I suppose.

>> No.4534678

>>4534596
>bitcoin has a high price but not a high value
That's not too far off, though. As a digital currency, it's fucking worthless. It can't even handle the transaction volume of a medium-sized walmart. So people are just buying it in order to sell it later at a higher price, no one is actually buying bitcoin to use bitcoin, they're just buying bitcoin to sell bitcoin.

This price growth with that kind of mania where no one even knows what the fuck they're buying? It's not sustainable. Anyone who has even an elementary understanding of markets and economics knows this. But I always forget, most of you are underage idealists full of angst and edginess.

>> No.4534706

Those things are correct though.

>> No.4534717

>>4534615

Nick Gogerty’s Theory of Value is enlightening read. Changed my understanding of money completely.

>> No.4534907

>>4534678
It's a fair point but then again markets are irrational. The same can be said for gold and it's not going anywhere. I do expect btc to stable off and have a bear market for a while.

>> No.4535356

My uncle said OJ was innocent

>> No.4535367
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4535367

>i ate a hungryman tv dinner by myself
HAHA NOCOINS BTFO!!

>> No.4535404
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4535404

>told my parents about my crypto gains and they told me to stop gambling

>> No.4535443

>>4534907
You can produce things that people buy with gold.

>> No.4535467

>>4534615
exactly it's metaphysical

>> No.4535482

My parents made me turn off my miner because it was using too much power. I was mining $16k in today's price a day back then.

>> No.4535500
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4535500

>>4534596

>> No.4535510

>told my mom about crypto and she gave me money
feels good to be pajeet

>> No.4535568

>>4535404
I had the reverse situation; I told them about my crypto gains and they urged me to invest more money into Bitcoin (when it jumped from 2400 towards 5000). I was a bit skeptical back then and wanted to play safe, so I didn't (for better or worse). Hindsight 20/20.

>> No.4535625

>>4535404
Damn this hits close i have over 100k in crypto but am basically homeless

>> No.4536036

>>4535500
fukken saved

>> No.4536075

>>4535367
same but with frozen fried rice

>> No.4536200
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4536200

>bring up POWR and that I've 7x My initial investment of $1500
>father tells me it's a pyramid scheme and that crypto is going to crash as a whole and the growth is impossible
>calls me an idiot
>goes on about how the only way to make money is through a college education
>every time I talk he just says "focus on college"
>mfw I haven't been to school in 8 years
>mfw I realize I'm nothing but a disappointment

This is why I don't visit him anymore

I-i'll show him when I'm in lambo land right?

>> No.4536294

>>4536200

Fuck that piece of shit.

When he's old and needs to be put in a home show him your crypto holdings and cash accounts and then leave him to die.

>> No.4536357

>>4536294
He just doesn't understand it. He's convinced it's not based off of anything in reality. I tried explaining what powr is in particular and he refused to believe it. Insists it and every other crypto is a scam get rich quick scheme and that there's no real money involved. Like nigger how the fuck do you think I was able to purchase my Audi? It sure as shit isn't my shit day job that has literally become secondary income.

>> No.4536729

>>4535625

cash out desu senpai?

>> No.4536758

>>4536200
>>4536357
>boomer butthurt over crypto

What else is new. If he hates it so much I'm sure he won't mind if you don't use that crypto money to find him a good retirement home, right?

>> No.4536768

>>4536200
>goes on about how the only way to make money is through a college education

that's an insult to every tradesman in the country
what the hell is wrong with old people

>> No.4536779

>>4534596
Then heat your house with it and get paid for the electricity you use on heating anyway.

>> No.4536816

Also since we all know they're coming, what's worse: boomers or boomer dicksuckers that defend them on /biz/?

>> No.4536821

>>4534678
This. BTC is 100% speculative currency. Apart from speculation, the only use cases right now are illegal activities.

>> No.4536888

>>4536768
This. I'm a mechanic by trade and he is strongly opposed to it.

I tried going to college 3 different times and failed out every time. College isn't for everyone and it sure as shit isn't for me. It's just annoying he has that mindset desu, the United States doesn't have enough skilled laborers anymore because boomers keep insisting on their kids going through the financial fire pit that is college. Why would I want to get myself in to massive amounts of debt thst I'll have to pay off until I'm 40 just to make $20k a year more than I am right now or not even be able to get a job in my field of study. College is the real scam here, not crypto.

>> No.4536901

>>4536821
bitcoin is good as a deflationary coin in inflationary economy.
this is why third world countries ban it