/biz/ - Business & Finance

It’s unironically true. Get out of crypto while you still can *sip*

Hahah did you guys really fall for the cryptocurrency scam?

The name itself should have raised red flags amongst those of you with any self awareness. Currency/money is defined as having three characteristics, a) a unit of accounts (yet everyone counts their crypto in dollars), b) a medium of exchange (pretty sure nobody uses crypto to buy anything) and c) a preserver of value (goes up 10x or down 90% in a year).

So if it’s not currency/money then what is it? Well it is a speculative asset, but cryptospeculativeasset doesn’t have the same ring to it. But even then let’s break it down further. Let’s of things are speculative assets, for example bonds, stocks, real estate, art, derivatives. There is nothing wrong with being a speculative assets. But most speculative assets have some sort of fundamentals: stocks have earnings and dividends, even perceived overvalued stocks like amazon generate tremendous cash flow from working capital ($20 billion a year); bonds have interest and coupons and real estate generate rent; even commodities like oil, steel and pork bellies which are driven by pure supply and demand with no cash flows are subject real fundamental usage and supply changes (such as bad weather creating a poor harvest, or suddenly people buying more cars thus using more oil).

So what is crypto? It is a speculative asset where supply and demand is not based on usage, but pure supply and demand by the investor, there are other assets like this such as art, collectibles, vintage cars. But even those things have scarcity. After all there is only so many Picasso’s and limited production Ferraris. While anyone can build a crypto, there is essentially no difference in the underlying technology except for the scale of adoption. The marginal cost of creating a new crypto is zero.

Hahah did you guys really fall for the cryptocurrency scam?

The name itself should have raised red flags amongst those of you with any self awareness. Currency/money is defined as having three characteristics, a) a unit of accounts (yet everyone counts their crypto in dollars), b) a medium of exchange (pretty sure nobody uses crypto to buy anything) and c) a preserver of value (goes up 10x or down 90% in a year).

So if it’s not currency/money then what is it? Well it is a speculative asset, but cryptospeculativeasset doesn’t have the same ring to it. But even then let’s break it down further. Let’s of things are speculative assets, for example bonds, stocks, real estate, art, derivatives. There is nothing wrong with being a speculative assets. But most speculative assets have some sort of fundamentals to them: stocks have earnings and dividends, even perceived overvalued stocks like amazon generate tremendous cash flow from working capital ($20 billion a year); bonds have interest and coupons and real estate generate rent; even commodities like oil, steel and pork bellies which are driven by pure supply and demand with no cash flows are subject real fundamental usage and supply changes (such as bad weather creating a poor harvest, or suddenly people buying more cars thus using more oil).

So what is crypto? It is a speculative asset where supply and demand is not based on usage, but pure supply and demand by the investor, there are other assets like this such as art, collectibles, vintage cars. But even those things have scarcity. After all there is only so many Picasso’s and limited production Ferraris. While anyone can build a crypto, there is essentially no difference in the underlying technology except for the scale of adoption. The marginal cost of creating a new crypto is zero.

All it takes to kill rats is some sugar in the poisoned water

Hahah did you guys really fall for the cryptocurrency scam?

The name itself should have raised red flags amongst those of you with any self awareness. Currency/money is defined as having three characteristics, a) a unit of accounts (yet everyone counts their crypto in dollars), b) a medium of exchange (pretty sure nobody uses crypto to buy anything) and c) a preserver of value (goes up 10x or down 90% in a year).

So if it’s not currency/money then what is it? Well it is a speculative asset, but cryptospeculativeasset doesn’t have the same ring to it. But even then let’s break it down further. Let’s of things are speculative assets, for example bonds, stocks, real estate, art, derivatives. There is nothing wrong with being a speculative assets. But most speculative assets have some sort of fundamentals to them: stocks have earnings and dividends, even perceived overvalued stocks like amazon generate tremendous cash flow from working capital ($20 billion a year); bonds have interest and coupons and real estate generate rent; even commodities like oil, steel and pork bellies which are driven by pure supply and demand with no cash flows are subject real fundamental usage and supply changes (such as bad weather creating a poor harvest, or suddenly people buying more cars thus using more oil).

So what is crypto? It is a speculative asset where supply and demand is not based on usage, but pure supply and demand by the investor, there are other assets like this such as art, collectibles, vintage cars. But even those things have scarcity. After all there is only so many Picasso’s and limited production Ferraris. While anyone can build a crypto, there is essentially no difference in the underlying technology except for the scale of adoption. The marginal cost of creating a new crypto is zero.

>>10732395

The delusion is so strong

We are still in the denial phase

>>10732147

Seriously go kill your self you dumb price of shit.

>>10697247
An important life lesson.

All you had to do was listen

Instead of developing marketable skills, you decided to be sucked into a Ponzi scheme

And you were too stupid to get out while the going was good.

Now you are contemplating suicide. Basically warren Buffett was right on all levels.

*sip*

>>10651267
>>10651274
Yikes

>>10642515

No you die and get made into burgers

Rat poison squared

>>10641055

Half berk.a half qqq

Ignore rat poison, the sugar water isn’t free

>>10638426

Sorry Buffett is the real chad

>>10638705

Yes

rat poison squared *sip*

>>10630826

Rat poison squared. Why would i trade my productive assets like oil wells, farm land, profitable business for a unproductive digital Monopoly money?

*sips* Rat poison squared

Rat poision squared

rat poison squared

Hey look, this new rat poison is delicious, comes in an all orange can with electrolytes and double the sugar

>>10623273

Does it matter which flavor the rat poison is?