/biz/ - Business & Finance

[Anonymous No.5518348]

Who the hell keeps buying BTC? Who are these people who dump in average more than 2 billion per day into it?

[Anonymous No.5518396]

I have a friend that used to be a finance manager for a global company. People like him are the ones keeping the price up and pushing it.

[Anonymous No.5518460]

>>5518396
And how do they do that without losing money?

[Anonymous No.5518484]

>>5518460

getting more people and specially companies to buy into it. That explains those massive pumps in the millions.

[Anonymous No.5518540]

>>5518460

also daytrading, dont fall for the fucking hodl meme. Its a ponzi, but the ponzi has not even yet shown its real value.

[Anonymous No.5518548]

its all margin traders trying to fuck each other

[Anonymous No.5518647]

>>5518460

sorry for many posts but also note: this market is unregulated. There is a reason why basically only millionaires and billionaires are shilling it: its a free money printing machine because every fucking tard pretends to be an investor these days

[Anonymous No.5518707]

>>5518548
>>5518647
Okay thank you for the explanations. Feel free to teach me more.

[Anonymous No.5518852]

>>5518707

I can't. People will probably not trust me, but I guess you are a smart guy cause you ask proper questions and dont dump random memes. All altcoins are scam by the way, add yourself to the ponzi during the next dip and never watch the charts for a year or 2.

[Anonymous No.5518927]

>>5518852

also, notice the fractal patterns bitcoin takes over and over again. It is not something random, it follows a mathematical pattern.

[Anonymous No.5519042]

A large part of it is wash trading

[Anonymous No.5519043]

>>5518707

also note: the FUD about a bubble is partially true. We have seen parabolic advances, which will result in a correction of the price to 6-8k in early 2018. You might want to jump in then, could be the final call.

[Anonymous No.5519068]

>>5518927
t. schizo

[Anonymous No.5519087]

>>5518348
>Who is Blocksteam

[Anonymous No.5519165]

>>5518348
Idk but buy in now before it goes to $100k

[Anonymous No.5519212]

>>5518348
It was me lol.

[Anonymous No.5519238]

HOW DARE YOU

[Anonymous No.5519262]

Wallstreet. Bitcoin ETFs are coming. Big fucking money. This is the start of a .com style bubble, except bitcoin is the internet. BTC will reach 1mil. Anyone who buys 1.0 BTC right now will be a millionaire in a few years.

[Anonymous No.5519309]

>>5519262
if it was that easy. everyone would do it.

[Anonymous No.5519376]

>>5519309

Everyone IS doing it, hence the parabolic price increase. Only the laggards and poor who can't afford $15k BTC aren't.

[Anonymous No.5519533]

>>5519262
BTC is not a currency or an investment, it is a gamble. It only destroys value, not produces it. Every single cent some people win through BTC someone else has to lose.

The only people around BTC I respect are those who actually cashed out in the order of millions. Everyone else who hypes BTC is just an idiot. Money and actions speak louder than words. To all the people who think they know the future so well I ask: why are you not a billionaire yet?

[Anonymous No.5519688]

>>5519533

Secure storage of value, with no central point of failure, creates no value? Lmao you are brain dead retarded. Poorfag logic right there.

[Anonymous No.5519732]

>>5519688
>Secure storage of value
wrong
>creates no value
correct

>name calling
ok kid

[Anonymous No.5519758]

>>5519732
bitcoin is a peer to peer electronic cash system

[Anonymous No.5519762]

>>5519688
He's >>5519732 right to be honest you mongoloid. The value is not created by making a magic unbreakable coin but by the trust and use given to it.

[Anonymous No.5519777]

I think it has to do with BTC/USD pairs. When people enter the crypto market with more money, whether they're new or not, one of the things they buy is BTC. Then they trade that BTC for other crypto, which doesn't immediately affect the USD/BTC pair.

[Anonymous No.5519827]

>not realizing that theres literally hundreds of billions of dollars on the sidelines waiting to get in on this

2018 will be a good year friends

[Anonymous No.5519881]

>>5519758
>>5519762

Ok then, stay poor fags if you never saw how bitcoin created immense value its no wonder you didn't buy in early. Its going to be hilarious when BTC hits 1mil and your dump ass is on 4chan "why is anyone buying this?"

[Anonymous No.5519890]

>>5519533
>people are actually this retarded

this is why wealth and intelligence correlate

[Anonymous No.5519940]

>>5519881
I do have bitcoin and other cryptos, but I don't spout retarded shit like that it creates value. Get fucked.

[Anonymous No.5519945]

>>5519890
Go ahead and prove to me that you are rich. Or are you admitting that you are stupid yourself?

[Anonymous No.5519969]

>>5519262
Literal retard. Bitcoin would have a 29Trillion $ market cap at that price. Surpassing global M0 by a factor of 3. If you don’t understand why that’s not possible/highly unlikely you should stop posting here.

[Anonymous No.5519990]

>>5519940

The ability to store value in a decentralized trustless and secure system creates immense value. If you can't see that you are doomed to be poor.

[Anonymous No.5520028]

>>5519969

m0? Lmao. Total USDT value on earth is $250T+. Not even taking into account inflation of USDT when crypto takes over, 1-10m is entirely likely in the next couple years.

Also, bitcoin mcap is far less than what people calculated based on 21m supply as about half the coins are lost or never spend.

[Anonymous No.5520147]

Fuck that who keeps buying eos through the ICO. Where are so many ETH coming from everyday? One day I think I will get it cheap but nope.

[Anonymous No.5520161]

>>5519262
damn, you know your shit.
I appreciate the research you've put into this, and thank you for sharing it. I hope others seriously consider your warning

[Anonymous No.5520222]

>>5519827
more like trillions

[Anonymous No.5520249]

>>5520161
damn, you know your shit.
I appreciate the research you've put into this, and thank you for sharing it. I hope others seriously consider your warning

[Anonymous No.5520291]

>>5519262
i dont think it can scale to be a million.
without real world transaction use its just a store of value.
i cant envision everyone putting their money into digital gold at anywhere near that price.

[Anonymous No.5520316]

>>5520028
If you can't even tell the difference between USD and USDT, just shut up please. You make a fool out of yourself.

[Anonymous No.5520386]

>>5520028
Sorry what are you referring to with a $250 Tn market cap? What do you mean by USDT

[Anonymous No.5520389]

>>5520291
Everyone? There is only enough for some of us

That's why its valuable

[Anonymous No.5520411]

>>5520389
you know btc ia divisible by 10 million right

[Anonymous No.5520476]

>>5520316
>>5520386

Sorry, used to typing USDT. I mean that the total value of all assets on earth are well over 250 trillion USD. Comparing bitcoin to the m0 money supply is retarded, because 99% of all transactions are electronic, not physical exchanges of paper money.

Even if BTC only took up 10% of USD transactions, that would justify a $1-10 million value per bitcoin from the demand to make transactions alone. If you include the fact its a secure and trustless way of storing wealth its potential far exceeds the cap of USD, potentially taking a huge chunk of the precious metal and security market.

And thats 1-10m of the current USD value, not even taking into account inflation.

[Anonymous No.5520813]

>>5519990
>store value
You're not storing value retard. You're storing a number.
Bitcoin isn't backed by anything, it literally halved in value just a few weeks ago because there's nothing cushioning the fall.
That's okay if you're playing with your own money trying to make a quick buck, it's not okay if you're a serious company or even government

[Anonymous No.5521085]

>>5520813
>Using fiat
You're not storing value retard. You're storing a number.
USD isn't backed by anything, it literally bleeds in value ever single year because there's nothing cushioning the fall.
That's okay if you're a government trying to take on debt to pay for everything, it's not okay if you're a serious company or an individual trying to make money.

[Anonymous No.5521087]

>>5520411
You are an absolute brainlet

Just because something is highly divisible doesnt make it infinite in supply

I can't believe I even need to explain this

[Anonymous No.5521253]

>>5521085
>USD isn't backed by anything
lol, let me repeat high-school economics:
USD is backed by everything you need it for (I.E. to buy american products). This gives USD inherent value unlike BTC which you don't need for anything except some obscure drug-trade. In addition, if USD would have dropped 50% like BTC just did, american goods are suddenly half the price to the rest of the world, that would lead to the biggest demand spike of USD in history, rapidly increasing it's value without volatile speculation.
>it literally bleeds in value ever single year because there's nothing cushioning the fall.
lol, see https://en.wikipedia.org/wiki/Inflation_targeting

[Anonymous No.5521401]

>>5521253
>literally defending fiat

Don't buy BTC then if you don't believe in it. But remember this in a few years when you're wagecucking hard and hear on the news BTC just hit 1mil.

[Anonymous No.5521458]

>>5519827
Please be troo

[Anonymous No.5521483]

>>5521401
>Don't buy BTC then if you don't believe in it.
Only retards need to be emotionally invested in their investments.
also pic related

[Anonymous No.5521611]

>>5520411

[Anonymous No.5521770]

>>5519309
It was that easy 5 years ago.

[Anonymous No.5521778]

>>5519309
this retarded circular logic, you are dumber than a creationist

its still incorrect though

[Anonymous No.5522070]

Folks like Warren Buffet calling it a FOMO

[Anonymous No.5522083]

they're are Coinbase noobs