/biz/ - Business & Finance

[Anonymous No.56997819]

cryptobros have no response to this and you should be concerned about that

[Anonymous No.56997836]

>>56997819
>sold
>withdrawing
>withdrew
>sell
>sell
>selling

[Anonymous No.56997847]

>>56997819
At least pick good bait please

[Anonymous No.56997849]

It's Money, not currency, it doesn't need to scale, it doesn't need to be used transactionally. Currency gains from being made of Money, but Money gains nothing from being used as currency. All of global finance will be Bitcoin's L2.

Core to Money is the store of value, but of course you can't actually store value. So how does money accomplish this function? By being a difficult thing. If I only trade my goods and labor for something I know is difficult to produce/procure, I stand a good chance of being able to trade that thing for roughly what I paid for that thing in goods/labor. I am storing the value dispersed within the economy. It should be obvious that while any difficult thing can be money, only some will be well suited and very importantly, have the network effect, to develop significant monetary value (premium over it's difficulty cost). Bitcoin is simply better Money than what we're had available, gold & equities (Equity Premium "Puzzle" is the product of partial monetization of equities post-gold standard). Network effect guarantees BTC will be The Money as it's the oldest and most difficultest, BTC will continue to grow because economic calculation is enhanced by having a good Money (price carries information, fixed unit of account reduces variables) and a good Money needs a large capitalization.

This halving will be the beginning of hyperbitcoinization, as it marks the inflection point where BTC's inflation rate permanently falls well below that of gold's mining inflation (2%). BTC will stand alone as the hardest Money, at all points after this halving BTC will only ever be a better and better fixed unit of account.

[Anonymous No.56997859]

>>56997849
Meanwhile people's use of BTC as anything other than haha line go up whee will continue to get eaten by XMR.

[Anonymous No.56997878]

works on my machine
pay for everything using crypto
not my problem

[Anonymous No.56997927]

imo everyone should be able to use whatever form of money he wants.
people should be able to pay with any currency centralized or decentralized and cash and PMs should be accepted everywhere too.
digital money, crypto money, bank money, PMs it all should exist as a backup for the other.
like if the dollar or euro or ruble fails because politicians are faggots you can be sure that some chink miner somewhere out there will keep the PoW chain running so you wouldnt be completely fucked, and when shit hits the fan globally like carrington event hits or supernova or whatever, we can fall back to cash and gold.
Crypto shall evolve into a public good and people should be able to decentralize and diversify their networth however they desire.
I'd argue my approach is the one that is best for all Humans and maximalism is retarded when it comes to currency. dont be a maxi faggot.

[Anonymous No.56997972]

>>56997859
Shut the fuck up stupid nigger faggot

>>56997849
Anon i enjoyed reading your post, please continue posting. In your scenario, how will the world change along with hyperbitcoinization, and besides buying BTC what other shovel selling schemes will pop up? You don't have to answer me but i enjoyed your post and would like to read more about your opinion on BTC

[Anonymous No.56998011]

>>56997819
it's a uhh, blockchain something something

[Anonymous No.56998016]

>>56997819
He's right and we should all start blaming the huge marketing campaigns that benefit the making of money over the growth of tech which used to be the main goal of crypto. We all love money but there's basically fuck all on the discourse except the next pump and dump scheme and its all the fault of the influencers because they used the power and trust the community entrusted in them to move the conversation from what made crypto an actual stepping stone over banking to basically make it fiat 2.
I have some hope because the tech does exist, the decentralization is there, and i trust that now that marketing is actually being discussed and some projects (viralx for example) want to reinvigorate the trust on influencers to give them actual projects and not shitcoins, we can move towards a mass adoption that fulfills what satoshi wanted in the first place: pure economic decentralization.

[Anonymous No.56998037]

[CONCERN INTENSIFIES]

[Anonymous No.56998091]

>>56997972
keep bleeding into that maxi pad

[Anonymous No.56998231]

Truth is i dont need to justify my gains. The world is a cruel and unjust place, im here to make profits and nothing else. Go play morals and politics somewhere else ledditor

[Anonymous No.56998234]

>>56998231
The actual sigma grindset

[Anonymous No.56998238]

>>56998231
>uh you're just as worse as the bankers muh muh muh
>sure, but im making money
based

[Anonymous No.56998280]

if bitcoin was money biz wouldn't be 99% crypto threads. simple as

bitcoin is a casino. when you want to sell your casino chips the house is the buyer, same as crypto. you are selling your shitcoins to binance and hoping they will honor it.

[Anonymous No.56998588]

>>56997849
Dont spoonfeed anon. They dont fucking deserve it

[Anonymous No.56998780]

>>56997819
why are these garbage reddit posts not cleaned up? Do your fking job jannies

[Anonymous No.56998957]

>>56997819
You have to be very retarded to manage to pay $50 to take the money out, at most you would pay $1 on the transferring

[Anonymous No.56998983]

>>56997836
>solded
>withdrawed

[Anonymous No.56999009]

>not using a p2p cash meetup
>blames it on people providing a service

>the actual state of redditors

[Anonymous No.56999191]

wth? dont binance have p2p? it takes me like 5 min to withdraw

[Anonymous No.56999228]

>>56997819
The correct way to use crypto is to buy bitcoin put it in a cold wallet and never move it.

[Anonymous No.56999899]

Here's the response
>not my problem

[Anonymous No.56999936]

>>56997927
Spoken like a true schitzo.
However, power is in play and they want your soul, time and energy to be spent on their scheme system - fiat. There is a long way to go to light up on that truth before we can have a peaceful time in the post-globalism era, where the west will fall to a planned energy insecurity.
And if not that, the forced sterilization of every developed country with enough docile and obedient serfs to take the jab. We'll see >10% births in the future from this, and the only countries who didn't take hook and sinker on the covid bullshit are countries only were countries like Russia, a few African ones and probably mongolia, half of india, iran and afghanistan. The west has fallen and along with it its so-called money with it. Crypto of course is the future, and its valuation will be astronomical in terms of blood money.

[Anonymous No.56999944]

>>56997819
>gets fucked by the banking system
>blames crypto

[Anonymous No.56999973]

>>56997819
>I withdrew $200 and paid $50 in fees!
Maybe try stop being poor

[Anonymous No.57000016]

Banks and governments can easily yoink your savings for whatever reason they can pull out of their ass, but they'll have a much harder time doing the same thing with your crypto. That alone makes it better for many people, except for first-worlders who can't think outside of their little hugboxes to save their lives.

[Anonymous No.57000501]

>>56997859
Retarded or just illiterate? Currency has no value, it's a cheap easy thing, we can use shitcoins like silver, USD, or DOGE for currency. Currency convention into Money is a low friction affair that does not add meaningfully to systemic economic inefficiency as currency, being transactional in nature, has no term risk. Remember, value store function of Money is inherent to Economy, without a fixed unit of account you get inefficiencies like the monetization of large cap equities. There is no choice in this matter, hyperbitcoinization is not a new thing happening, but an old thing happening in a new way, an evolution of Money

[Anonymous No.57000536]

>>56997849
I was in btc at $3.
It's not money.
I do ecommerce and had a page to accept payment in btc or XRP for literally 8+ years.
I do 30k orders a year.
Not a single person ever even inquired.

[Anonymous No.57000613]

I use Binance in Brasil, its cost me 75 cents to withdraw BRL to my bank account.
>Laugh and points to the American

[Anonymous No.57000671]

>>57000613
All these systems are set up to rob people of the correct amount given their location.
If you could afford more, it would cost more.
The general "you" as in your country's people.

Same scam, just run on a relative basis.

[Anonymous No.57000748]

>>56997819
All his complains are literally about exchanges and banking.
In 2023 the space is so tech illiterate people don't even understand what crypto even is.

[Anonymous No.57000764]

>>56997878
How do you avoid paying taxes?

[Anonymous No.57000818]

>>56997819
This ledditor completely misses the point of crypto. First of all, crypto is only just now exiting the "fringe" stage of revolutionary tech adoption. We are only now entering the frontier stage and will fully realize what that means with this upcoming bull run next year. You can tell they don't understand crypto because the end goal of crypto isn't selling and transferring to a bank, as they say, the end goal of crypto is bitcoinization. Meaning bitcoin being the global reserve currency, and alt coins being used as the main value transferring systems, all working together with ease and at the speed of light.

[Anonymous No.57000895]

>>56997819
Crypto was never meant to be converted to fiat, it was meant to replace it. Unfortunately none of the necessary goods e.g. rent, groceries, gas, accept it, its always got to be converted. We lost the plot and that's our fault.
If people insisted on only paying in crypto, things would change but nont enough people will do that. Also you would need a ln anonymous crypto like XMR or its cutting edge evolution, DIST which btw is still in presale. Aurem testnet soon tho, they will save the world. Discreet(dot)net

[Anonymous No.57000926]

>>56997849
>>56997859
>>56997972
>>56998588
>>57000536
>Bitcoin: A Peer-to-Peer Electronic Cash System
>Satoshi Nakamoto
>[e-mail]
>www.bitcoin.org
>Abstract. A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures [...]

[Anonymous No.57000965]

>>57000926
Yea, I know it failed. As I said, been here since $3.
It's a speculative bubble asset with no real world usecase because of how slow and expensive it is.
Quite literally 85%+ of the world can't even afford to pay for a tx with an entire days pay.

[Anonymous No.57001006]

>>57000965
The Bitcoin community is very stalwart and opposed to change or adaptation, which is sad. Other projects like XMR or KAS which have open minded communities that embrace change and upgrades have more of a chance of succeeding as real "digital cash" in the future. Not saying BTC is going away.

[Anonymous No.57001015]

Everyone hoping to sell into USD when I just want to buy a house using only BTC...

[Anonymous No.57001146]

>>57001006
BTC isn't going away because big money and glowies run, and have always run, btc.
But it's useless. All the early talk were glowies running a scam.
It was absolutely never in a million years going to benefit more than .00001% of the population.

[Anonymous No.57001192]

>>56997819
its baffling how fucking retarded normies/hylics are. they deserve to be debt enslaved and in poverty.
real life example:
>i physically hand someone something of value in exchange for a service ie. cash/gold in exchange for mowing my lawn
problem:
>i cannot electronically transmit anything of value
solution:
>use crypto to electornically transmit something of value directly to someone else in exchange for a good or servie

[Anonymous No.57001231]

>>56997819
>i converted all my crypto to cash and now all i have is fiat
>this was my goal
>how is crypto any better than fiat?!?!?
unbelievable! how could this be happening?

[Anonymous No.57001820]

>>57001015
I predict you will be able to do that in most countries within the next 10 years.

[Anonymous No.57002065]

>>56997819
>Also the end goal is to sell crypto and transfer the cash to guess where? To the bank
>To the bank
Lol lmao lmao

[Anonymous No.57002619]

>>56997819
It's self custody of money.
Glowniggers don't have direct access to it.
Instant wires across the world.
It's a technology of cryptography and block chain ledger not just "money."

[Anonymous No.57002654]

>Withdrawing $200
I know the cost of living is skyrocketing but please bros don't say you actually do this?
I withdraw $1500-2500 a month and the fees for me are probably less than $5 total, certainly less than 10.

[Anonymous No.57002676]

>>56997819
I ain't reading all that you need to summarize it for me. I'm not reading any reply either, I just want you to know your thread sucks and I won't be participating because you didn't sell it well enough for me to bother reading an image you took from reddit. I might as well fucking go to reddit at this point.

[Anonymous No.57003397]

>>57002654
On what exchange?

[Anonymous No.57004402]

>>56997819
Banks should be the exchanges or operate the exchanges. The Feds want it this way and we all want it this way. You shouldn't be able to self-custody and if you want to withdraw cash you should be able to do so as a loan from the bank, using your crypto as collateral.

[Anonymous No.57004437]

>>56997819
crypto gains value when shit hits the fan and thats what it was made for.

[Anonymous No.57004889]

>>57000764
I pay fees to miners/ stakers
I also pay sales taxes which are embedded into the price of whatever I pay
other taxes don't exist because crypto exists in a virtual jurisdiction, which exists inside my node and others'

[Anonymous No.57004997]

>>56997819

Deep down I know Crypto is not better than banks. As much as I want to say it is. I love that it's decentralized and not run by (((them))) but still It's just a fucking mess.

[Anonymous No.57005093]

>>56999944
Banks fractionally reserve deposits
Cryptos rehypothecate wallets

[Anonymous No.57005105]

[Anonymous No.57005116]

I don't have to go into a nigger infested building to be talked down to by a poojeeta to fuss with my accounts I can just do it

[Anonymous No.57005500]

>>57000926
1) Satoshi's intentions and a stinkylinky will buy you a cup of coffee
2) "A purely peer-to-peer version of electronic cash" is a reference to Ecash, not a statement on its Economy function
3) Money (store of value) is both more difficult and more important than currency (remittance)

[Anonymous No.57005540]

>>56997819
Do you really have to transfer to coinbase from binance to get your money to your bank account?

[Anonymous No.57005581]

>>56997819
not reading that but good shit man

[Anonymous No.57006200]

>>57000965
You're an idiot, it's real world usecase is MONEY, the Store of Value (and unit of account, money is a unit), we have completely split the Money (store of value) function from the Currency function. Bitcoin simply improves on what we've been using, BTC is evolutionary not revolutionary, but in completely splitting the unit of economy from mere currency bitcoin IS revolutionary. Stop viewing money value as demand for currency, that was a part of the Money function when currency was made of Money, but that's why they were tied, removing the store of value from currency does not remove the economic demand for store of value. BTC provides a pure, low inflation (and slowing), trustless, stateless, store of value. BTC is the best Money we've developed to date, it's value is driven by demand for the Money function, not demand for currency, so it doesn't need to scale, to be used transactionally, it can do what gold does and just chill being itself. Remember, despite gold's mining inflation(2%, supply doubles every 35 years), gold still kept pace with monetary expansion. Demand for the Money function is HUGE and the asset we've primarily been using since '71 (public equities) creates large scale systemic inefficiencies.
>muh volatility
It is volatile only because we don't know the true market value of Money, and it's far from it's full capitalization, volatility will fall as it approaches it's natural full capitalization

[Anonymous No.57006800]

>>56997972
I don't know if they'll be any shovels to sell as it's less a gold rush as the organic rise of a new Money (store of value/unit of account), old monies (gold, large cap equities) will lose value, but this probably won't happen in USD nominal but in BTC base (which of course has been happening).

I shy away from trying to predict the ramifications of hyperbitcoinization, as another anon put it:
>the invention of an intangible financial instrument with inherent scarcity is revolutionary. But its revolutionary as a social innovation, not "tech." The tech used to implement it is actually pretty old. Bitcoin is a revolutionary way for people to cooperate without trusting each other or a centralized intermediary.

I don't know what hyperbitcoinization brings, only that given the properties of BTC, and the economic demand for those properties, that hyperbitcoinization is
coming as BTC will continue its meteoric rise until it reaches full capitalization, at which point it will still expand in real value with the demand for store of value, and nominal value with the change in demand for store of value multiplied by monetary expansion

[Anonymous No.57006831]

on a related note, i have about 40k on phemex and they just hit me with kyc requirement. i wont be able to withdraw unless i kyc and im a merican so i wont be able to trade if i do. should I just trade as long as i can and kyc/cash as long as possible or just bite it now and move to a dex or something? fucking annoying because i was withdrawing enough to significantly increase my monthly income too.

[Anonymous No.57007481]

>>57006831
b-bump

[Anonymous No.57007496]

>>56997819
>CRYPTOs and MEMECOINS
>UAPs and GRUSCH
>LOW IQ SOCIAL MEDIA (4CHAN, X, FACEBOOK, TIK-TOK etc.)
>SMARTPHONE GAME APPS (COIN MASTER, SLOTOMANIA, CANDY CRUSH SAGA etc.)
>LOW IQ MUSIC (MUMBLE HIP-HOP, TRAP COUNTRY, etc.)
>CONTRACTOR APPS (UBER, DOORDASH, GRUBHUB, etc.)
it's all created to enslave us, dumb us down and keep us stupid while making others rich. if you can't see the big picture, you're just fucked

[Anonymous No.57007586]

>>57003397
Sell crypto on binance for usdt
transfer usdt to kraken and withdraw it as fiat.

[Anonymous No.57007625]

>>57006200
Good posts. A Christmas miracle.

[Anonymous No.57007634]

>>56997836
fpbp
op btfo
all faggots replying with irrelevant drivel btfo
if you really are a genuine 90iq lurker reading this and need it spelled out:
exiting a system through a thirdparty intermediary has nothing to do with that system

[Anonymous No.57007647]

>>56997819
>"crypto is all about avoiding banks r..right?"
>cashes out and transfers to a bank
>complains
nigger level intelligence

[Anonymous No.57007681]

>>56997849
So I like this post but have a question: Unlike commodities like gold and silver which have tangible applications (not that i know how to use them for those applications), how does bitcoin solve the problem that in a crisis, people like shiny shit and physical commodities? I guess I'm specifically talking about financial collapse (which however unlikely, I think needs to be thought of). In a functioning system, bitcoin is a replacement, if the system isn't functioning, it seems to fall apart. Am I missing something?

[Anonymous No.57007970]

>>57007681
Do you truly believe that, in your lifetime, there is going to be an event that destroys the interwebs? If so, buy guns, ammunition and canned food. Shiny rocks won't help in that scenario

[Anonymous No.57008043]

>>57007681
>in a crisis, people like shiny shit and physical commodities?
that's a stupid goldtard meme. in venezuela they prefer to transact with the usd over gold. in countries with shit economy they all want to transact in usd or eur, not gold.

[Anonymous No.57009612]

>>57005500
>>57006200
>>57006800
Three dubs in a row wtf? But also: Based. You're one of the few here who gets it, so I appreciate the posts.

[Anonymous No.57010227]

>>56997849
ah yes, cryptomoney

[Anonymous No.57011780]

>>57007681
Gold value is driven by demand for it's Money (store of value) properties, not industrial use demand, in a large enough crisis all Monies lose most/all value as their value is network dependent. An ounce of gold buys a literal ton of flour now, you think you'd get even a 50lb sack in the event of nuclear war or a CME that knocks out electricity for years?

[Anonymous No.57011830]

>>57011780
>muh cataclysmic events
Not gonna happen chum, just accept it.