/biz/ - Business & Finance

Reminder that Bitcoin's exorbitant price is not the result of organic real-world supply & demand but is instead the result of 10+ years of orchestrated wash trading by a cabal of schemers who are counting on you to believe the hype and FOMO in every time they initiate a pump.

Reminder that this same kind of market manipulation is how utterly useless dog memes are also able to inexplicably attain multi-billion dollar market caps.

Reminder that price action in a market this spectacularly fraudulent is therefore not truly representative of an asset's actual value and is an inherently meaningless metric.

Reminder that such fraudulent trading is not consistent with long-term growth and stability.

Reminder that Bitcoin is now rapidly losing real-world economic relevance to Monero as *reliable* privacy and *full* fungibility become evermore necessary for truly permissionless crypto transactions. https://moneroinfodump.neocities.org/#MoneroReplacingBitcoin

Reminder that maxipads are delusional bagholders who actually believe Bitcoin can continue losing real-world economic relevance without it negatively impacting the price.

Reminder that those same maxipads will also attempt to distract you from Bitcoin's downward spiral with constant appeals to historical price action that, as seen, is inherently meaningless.

Reminder that HOLDING FOR FUTURE PROFIT ≠ ADOPTION.

Reminder that HOLDING FOR FUTURE PROFIT = SPECULATION.

Reminder that actual ADOPTION = sustained & growing utilization by non-speculators as a medium of exchange in a real-world economy for the purchase/sale of goods & services.

Reminder that Monero is the only cryptocurrency that has consistently growing demand from non-speculators due to it becoming the exclusive medium of exchange for cyber-related black market commerce.

Reminder that this growing demand makes Monero the only cryptocurrency with a guaranteed floor since commercial users will continue buying it no matter the price or market conditions.

>>54855202
>That's just like every other market

Uh, no. Wash trading is flat out illegal in regulated markets and engaging in it will put your ass in prison.

>Wash trading has been deemed illegal in most jurisdictions. For instance, the United States enacted the Commodity Exchange Act (CEA) in 1936[1] to prohibit wash trading. To comply with regulations, most regulated stock exchanges have implemented protective measures, such as Self-Trade Prevention Functionality (STPF) on the Intercontinental Exchange (ICE).[2]

>However, in some unregulated emerging market, such as cryptocurrency,[3][4][5] the practice is common.

https://en.wikipedia.org/wiki/Wash_trade


>Its only value right now and mid-term is as any other alt: as a potential trading pair to accumulate more BTC.

Why the fuck would any rational person want to accumulate more of a fraudulently inflated asset that is demonstrably losing real-world economic relevance?

News flash, hotshot: THE BTC MARKET PRICE ISN'T A REFLECTION OF ITS ACTUAL VALUE.