/biz/ - Business & Finance

buy the dip

Bitcoin is worth nothing in and of itself. The only reason it's worth anything in fiat is because people want to sell it for fiat. It's not a store of value because there is no value to store, it's only valuable to the extent that people want to sell it for fiat. The thing is though is that it's a terrible medium of exchange with high fees and slow transaction speeds. Gold on the other hand is an excellent store of value. Well how is gold different to bitcoin? For starters gold can actually be used for the inherent qualities of the metal. Gold doesn't degrade over time, a bar of gold will still be a bar of gold 1000 years from now. It's scarce there's not a lot of it to go around and it's a lot of work to extract it from the earth. That's why it's been used as money for thousands of years, because it's value is derived from the metal itself. Gold is also valuable because it's needed in technological applications that would otherwise not work without it. That smartphone or computer your using need gold for it to work. And finally, gold is valuable as a form of jewellery, people like the way it looks on their body so they fashion it into rings and necklaces to enhance their appearance. That's why gold has been so profitable for buyers and sellers of gold all throughout history, because of the things you can do with gold, that's what makes it so valuable. Now can you make a profit from bitcoin? Sure, that doesn't mean it's a good way to make profit. You can be profitable as a hitman who murders people because you provide a service that someone is in need of. What service does bitcoin provide that's better than what we already have? It doesn't provide a better service, that's why nobody needs bitcoin to accomplish anything. Instead of buying bitcoin, buy gold. All bitcoin is is a bubble and eventually bubbles pop, and when it finally does pop there are going to be some heavy bag holders and there'll be no one left for them to dump their bags on.

>>29004743
>>show some respect to peter schiff!
Yes.

Bitcoin is worth nothing in and of itself. The only reason it's worth anything in fiat is because people want to sell it for fiat. It's not a store of value because there is no value to store, it's only valuable to the extent that people want to sell it for fiat. The thing is though is that it's a terrible medium of exchange with high fees and slow transaction speeds. Gold on the other hand is an excellent store of value. Well how is gold different to bitcoin? For starters gold can actually be used for the inherent qualities of the metal. Gold doesn't degrade over time, a bar of gold will still be a bar of gold 1000 years from now. It's scarce there's not a lot of it to go around. And it's a lot of work to extract it from the earth. That's why it's been used as money for thousands of years, because it's value is derived from the metal itself. Gold is also valuable because it's needed in technological applications that would otherwise not work without it. That smartphone or computer your using need gold for it to work. And finally, gold is valuable as a form of jewellery, people like the way it looks on their body so they fashion it into rings and necklaces to enhance their appearance. That's why gold has been so profitable for buyers and sellers of gold all across history, because of the things you can do with gold, that's what makes it so valuable. Now can you make a profit from bitcoin? Sure, that doesn't mean it's a good way to make profit. You can be profitable as a hitman who murders people as horrible as that sounds, because you provide a service that someone is in need of. What service does bitcoin provide that's better than what we already have? It doesn't provide a better service, that's why nobody needs bitcoin to accomplish anything. Instead of buying bitcoin, buy gold. All bitcoin is is a bubble and eventually bubbles pop, and when it finally does pop there are going to be some heavy bag holders and there'll be no one left for them to dump their bags on.

Bitcoin is worth nothing in and of itself. The only reason it's worth anything in fiat is because people want to sell it for fiat. It's not a store of value because there is no value to store, it's only valuable to the extent that people want to sell it for fiat. The thing is though is that it's a terrible medium of exchange with high fees and slow transaction speeds. Gold on the other hand is an excellent store of value. Well how is gold different to bitcoin? For starters gold can actually be used for the inherent qualities of the metal. Gold doesn't degrade over time, a bar of gold will still be a bar of gold 1000 years from now. It's scarce, there's not a lot of it to go around. And it's a lot of work to extract it from the earth. And that's why it's been used as money for thousands of years, because it's value is derived from metal itself. Gold is also valuable because it's needed in technological applications that would otherwise not work without it. That smartphone or computer your using need gold for it to work. And finally, gold is valuable as a form of jewellery, people like the way it looks on their body so they fashion it into rings and necklaces to enhance their appearance. That's why gold has been so profitable for buyers and sellers of gold all across history because of the things you can do with gold, that's what makes it so valuable. Now can you make a profit from bitcoin? Sure, that doesn't mean it's a good way to make profit. You can be profitable as a hitman who murders people as horrible as that sounds, because you provide a service that someone is in need of. What service does bitcoin provide that's better than what we already have? It doesn't provide a better service, that's why nobody needs bitcoin to accomplish anything. Instead of buying bitcoin, buy gold. All bitcoin is is a bubble and eventually bubbles pop, and when it finally does pop there are going to be some heavy bag holders and there'll be no one left for them to dump their bags on.

>>28525331
The stock market will cause that. First, Tesla is going to burst which will affect the trust in the Bitcoin. Expect a colossal March 2.0 crash.

Time to face the facts, the USA will be a third world socialist shithole soon.
What are the best investment strategies?
Obviously rental properties are now out of the picture.
Bitcoin, gold, silver, possibly commodities? It's time to strategize.

Why do they always put the most retarded “crypto experts” up against Schiff?

>>25176285
friendly reminder that P. Schiffy only attracts people who are predestined to lose their wealth.
reviews for his firm:
https://topratedfirms.com/brokers/customer/europacificcapital-review.aspx

HI ELON
PETER SCHIFF HERE
AMA

>>24985559
Diversify some into physical silver and gold in case the grid goes down and you will be perfectly positioned.

>>24959121
Thank you Peter, very cool!

>>24705948
>*Porn intro instrumental with catchy guitar & bass playing in unison*
>*Movie trailer voice starts speaking*
>"THE PETER SCHIFF SHOW!!"
>*Intro finishes with violins accompanying the guitar and bass in a spectacular fashion*

>>24671567
This. Bitcoin isn't a storehold of wealth. BTC (like every crypto) is just tulips

HELLO
PETER HERE
AMA I'LL TAKE 3 QUESTIONS ONLY

HI FRENS
PETER HERE
AMA

CEO OF PROSPERITY

>>24088506
>but why was he not in the movie "the big short"?
Why do you think?
Holywood wants the whitewashed version?
They don't want to blame the central bank and government for creating a massive housing bubble. Their narrative is that the free market magically did it itself.
This is the same reason they don't let Peter on CNBC anymore.

>is he a shizo or not?
He's very sane and goes on literally any show/podcast that will have him including infowars. He actually thinks Alex is wrong on a bunch of shit and corrects him.

Why is he so based, bros?

>>23278549
21 ounces is a good pickup. Keep it up.

>>23060608

>>22324910
>my little shill can't be this stupid
Thank you for the dip this morning Mr Goldman