/biz/ - Business & Finance

>>10576903
bakkt is the exchange medium to convert btc into dollars.
in other words, bitcoin is dead.

>>10576903
It will bring more liquidity but at the same time forget about volatility. BTC will become boring as hell, but alts could make a come back if they are not already dead when that happens.

>>10576952
I used to think bitcoin was idiotic and it didn't make any sense for a digital currency to actually hold value. Then I saw the need for crypto in general when all of these security flaws started happening on the Internet - my bank sending me a new card every week, month after month of personal data being leaked by major corporations, etc. Maybe eventually dollars will be replaced by a tokenized dollar approved by the US government, but it makes a lot more sense for governments to just start adopting bitcoin as an acceptable currency. Dollars are dying, my friend. Bitcoin is only just beginning.

>>10576952
and how are bitcoins converted into dollars?

>>10576903
>>10577026

>>10577026
>it just makes more sense
no, (((government))) isnt gonna use bitcoins

>>10577029
exchanges, like what bakkt is, except bakkt will get adoption

>>10576992
>Forget about volatility
Not at the start. BTC still isn't widely accepted or used as financial instrument or store of value. It has to go up quite a bit due to demand and be spread out to FAAAAAAAR more holders before the volatility is gone. But this is a step in that direction as more big money will be able to purchase it along with old people without needing to actually know the technology behind it.

>>10577071
Big money won't buy at these prices though. Price discovery will happen and it will be brutal, because BTC price has been manipulated for years now. This new exchange could crash Bitcoin to oblivion before we start seeing some upwards market efficient movement.

>>10577148
>Big money won't buy at these prices
Says who exactly? It doesn't even make sense for it to crash bitcoin.

>>10577190
It makes perfect sense if you can short the shit out of it. Speculators make money when the market goes up or down dude, they don't care.

>>10577190
>says who
dont look at the charts, you might learn something

>>10576952
>>10577067
See you at the big green dildo season.

>>10576992
>forget about volatility
Yeah maybe when we are past $1,000,000+

>>10577241
heres some wojaks to get you ready

>>10577223
You have been able to short bitcoin since Bitcoin Futures were a thing.We have already felt the effects of that. This is legitimizing it and making it an actual investment vehicle.

>>10577255
My God I thought we were beyond denial at this point.

>>10577304
you dont ssem to understand what the article is saying.
bakkt is the medium of exchange, not bitcoin.

>>10577026
>>10577241
>>10577255

terrible fucking name jesus christ

>>10577364
literally is a mix of bukakke and rekt

>>10577263
>>10577345
Say cheers for the picture.

>>10577066
I feel like I'm stealing at these prices.

>>10577746

>>10577322
we're at disbelief right now

>>10577833

>>10577746
>muh bullruns
literally the only argument bitcoon boomers have

>>10577148
Coinbase is quite known now. Normies there and its big 4 have btc

>>10577956
>*screenshot of someone selling eth at $3 in 2017*
is literally fucking you rn.

>>10577982
wow you totally destroyed him repostoing the same fucking stupid image over and over
in any case we'll know a few years from now who was right and you'll look back on this and think wow, I was a fucking moron
at least you got to post a few poorly made, unfunny, childish memes! :^)

this will be the final death blow to crypto
i remember how everyone was cheering for BTC futures

>>10577961
>doesn't know about the bullrun that happened last December..

>>10578085
this is the death of bitcoin.
ironically this is what allows crypto to scale

>>10578099
i bet you cant even explain why it went up

>>10578123
It goes up at the end of every year brainlet

>Retail payments is an industry that appears ripe for Sprecher-style disruption. Today, Americans charge $7 trillion in goods and services every year—around 60% of GDP—on credit and debit cards, and through digital portals such as PayPal. The stores and restaurants that accept those cards typically pay 2% to 3% to around six intermediaries, including “merchant acquirers” who sign up the merchants, credit card giants such as Visa and MasterCard, and the banks that issue the cards.

>It’s hard to overstate how drastically a shift to Bitcoin could crunch those lofty fees. Consumers could pay for groceries or detergent directly from the Bitcoin wallets on their iPhones or PCs, right from a scanner at Walmart or Starbucks, with no banks taking fees in the middle. If Bitcoin became the chief currency for retail, it’s likely that credit cards would disappear.

>>10578128

>>10578164
It literally goes up every year, that's my point.

>>10577992
kek. because literally every one of his arguments is listed on this card.

look, heres another faggot
>>10578128 >>10578099
>See you this time next year!

>>10578185
try 2015 dumbshit

>>10578221
they've been right for years on end now (literally almost a decade) while all you have is unfunny meme spam

like i said, have fun looking back on this in 5 years

>>10578221
>>10577982
>>10577833
>>10577345
Is this how you cope?

>>10578227
>picks one year out of all of them
>>10578221
Bitcoin will literally go up this December again and be higher on this date next year.

>>10577833
Dammit i hate what youre doing in principle but i audibly keked
Nice form/10

>>10576903
The September - Dec bull run of 2018 will make the whole of 2017 look like one big joke

ETFs in Sept and Bakkt in Nov along with GS custody services

GGWP

>>10578289
so why didnt it go up in 2015?

>>10578344
It didn't go up in 2015 because your mom got stuck in the front door to the bitcoin HQ.

>>10578284
i dont need to cope. ive been here since 2015. havent sold a single cent of crypto since. unlike you i dont have to make up bullshit and excuses to justify my holdings.

the question should rather be, is this how YOU cope?
>>10577956
>>10577746

fucking newfags.

>>10578307
so because it went up last year the same thing will happen this year?

Do you also read horoscopes?

>>10578448
>The I have been here longer than you with no proof and I know better than you argument
I've been here since it was being shilled on /g/ and you are a faggot. I will provide evidence right after your provide yours.

>>10578396
no, it didnt go up because i was stuck in your mom in 2015

>>10578448
>ive been here since 2015.
No you haven't.

On the other hand, I have been here before 2015, and I was telling you mongs to buy bitcoin at $250, then again at $465 (check trip) and so on, yet you were posting anime smug pictures instead.

As you can see, I can actually prove it, you are just another LARPfag.

I will never be on the red, I will keep increasing my BTC stack. No such thing as coping applies to me. I will just continue getting richer, naturally, as a matter of course. Crushing mongs like you is yet another passtime for me now as a rich NEET.

Now *snap*, these are going into my 2018 dip folder.

>>10576952
So essentially the company will just take all the bitcoins for each transaction and horde them as they give the company dollars that they are backed by? Yes by that logic they will have to dump them at some point and just cause goxxening 2

>>10578625
I wonder how he is going to respond to being so thoroughly blown the fuck out. I can't imagine it will be good and will at best be random bullshit where he shouts cope and salt alot.

> microsoft
> bill gates
> the same bill gates who said he wanted to short BTC (downtrend ever since)
> entire scheme is a ploy fot bill gates to short BTC down to $7.50

>>10578628
they dont have to dump them, they just go to zero as people exchange out of bitcoins.
but i suppose they could dump them

>>10578625
based

>>10578625
Faggot is totally silent after this.

>>10578625
copying the trip of a widely circulated pic is not exactly proof but whatever. If you're not larp i salute you based oldfag coiner

>>10578516
are you a fucking retard

>>10578516
>doesn't believe in astrology
All you have to do is look at your dumb family members of yours and compare their birthdays to what their sun sign is to get a base of what their personality is like. It will match every single time, Nigger.

>>10576992
>actually believing this

the net inflow to bitcoin since it was created is $15B

there are individual retirement companies like fidelity with $2,000B under management

you realize when the ACTUAL bubble comes, that net inflows into crypto will be ~5-10% of people's assets?

that's $100B from fidelity alone, compared to net $15B so far

we are guaranteed to hit $250k in the near future, $1M eventually. you cannot stop this train

>>10578396
>>10578619
But was it with a green or red dildo? This matters.

>>10579148
Your dad took both.

>>10578625
> I can actually prove it
how are you intending to prove it? i bought BTC in early 2015 but there's no way i can prove it, it was on fucking virwox and i haven't used that site for 3 years. if you say you can provide proof, do so

>>10577067

globalists want bitcoin because they want to kill all national control over their own wealth.

a new global reserve currency.

No more hitler debacles where he tears of the jewish yoke and saves his nations economy.

>>10579336
Do you not know how a fucking tripcode works? How new are you?

I have no BTC, only ETH, XLM, BAT, XEM, LTC, FUN, and GVT.

A-am I going to be OK?

>>10579377
this. When will you faggots understand BTC is not against the system. BTC IS the system. They want cashless and global since a long time ago. They get both and get to extract wealth from goys in the meanwhile. Yes a couple of neets get rich in the process but they will lose that wealth in the long run. So its going to 1 million and more, its inevitable

>>10579395
>implying everyone uses a tripcode.

>>10579412
just make sure you have your health. dad loves you

>>10579412

If you dont own atleast 1 BTC at this point I dont know what the fuck is wrong with you honestly.

>>10576992
what a retard lmao

>>10579137
>we are guaranteed to hit $250k in the near future, $1M eventually. you cannot stop this train
HHHHOOOAAAAAAAAAA!!!!!!
We're going to make it guys we're really going to make it

>>10579493
Felt I missed the boat. Got in early enough on everything else I'm still in the black somehow, but BTC was like 1200 at the time.

So what your saying is. Buy silver?

Someone has to screencap this thread and post end of year

>>10579439
>Yes a couple of neets get rich in the process
The goys are NPCs and wouldn't know the difference either way
I'm going to enjoy my neet gains and watch the world burn

>>10578289
>Bitcoin will literally go up this December again and be higher on this date next year.

You are objectively wrong. Bitcoin will be lower by this time next year. Probably at 1k at best and dying a slow death.

>>10577345
>>10577833

>>10579618

Are you really this naive? Don't mislead the last remaining noobs before this glorious golden run we're about to witness.

I wouldn't be surprised one bit if bitcoin is 6 digits next year.

If a bunch of fucking neets can figure out the dollar isn't back by anything and bitcoin is legit then what do you think people in these multi billion dollar companies are thinking
if we were full of shit autism would have shaken us out by now but it's all real and we're going to make it

>>10579876
why would it be?

the price will only go up if lots of people want to buy it. some people will want to buy it just to make money when the price rises but in order for it to rise as much as last year now that people are calmer and the media is less likely to go crazy about bitcoin price rises there have to be real reasons why bitcoin is more useful in 5 months time than now, and there is nothing making bitcoin significantly more useful now than last year nor anything on the horizon for the end of year.

>>10579952
just stop dude. btc is going to six figures. eventually seven figures. the writing is on the wall and people like you who mislead are becoming increasingly obvious.

>>10578625
Based and Redpilled
>>10578448
Cucked and Bluepilled

>>10579952

because it becomes more and more mainstream? bakkt and a btc etf is one big step further to mass adoption.

Why hasn't bitcoin gone up since the announcement of Bakkt and possible BTC ETF?

>>10578307
what if people use the new service to sell?

>>10579395
what's a fucking tripcode? i'm not even that new

>>10581859
>Asking about tripcodes
>I'm not even that new
HAHHAHAAAAA NEWFAG GET THE FUCK OUT

>>10581883
yikes, i just looked it up, calling someone newfag for not knowing this bullshit is cringe af
chances are high you were still in elementary school when i started visiting this board

>>10581750
for every seller theres a buyer

>>10582037
Tell that to the TRTL bagholders.

>>10579028

>>10580057
>just stop dude. btc is going to six figures. eventually seven figures.
Notice how you haven't given a timeline for these vague claims.
I specifically argued that there is no reason to believe that bitcoin's price is going to jump as high or higher than it did in 2017. You respond by claiming that it will make 6 figures, with no timeline, and giving no reasons, just bland, authoritative-sounding language
>the writing is on the wall

What are your reasons for thinking that within 4 months bitcoin will jump even higher than it did last year despite the fact that most normies and the news media will be calmer and less FOMO ? Is there anything to justify the new default price being 20k plus at this point in time or in 4 months? neither the ETF nor Bakkt give such huge gains in adoption that it makes bitcoin look desirable enough that there will be demand for it being 20k.

If a bull run did happen again EVERYONE would be looking to cash out at 15-20 K again which would mean that there's no way the price will get that high. the price is only going to get that high if people actually believe that that's going to be the new , stable price rather than a week long bubble and people are only going to believe that that is the new stable price if there is much more news about bitcoin being useful and widely adopted than there is currently or on the horizon.

>>10581859
>t. 2016 summerfag

>>10582777
>If a bull run did happen again EVERYONE would be looking to cash out at 900-1.2 K again

>>10577537
Kekd

>>10582824
you haven't provided any reasoning why the stable demand would be 20k+
by what metrics is bitcoin that much more useful or widely adopted or trustworthy than last year?

>>10576903
This press release, disguised as an actual piece of journalism, left out one important point - it needs regulatory approval. Which won't happen, especially with what just happened with Okex.

This is just Microsoft pushing it's Azure bullshit. It will go nowhere, and the complete lack of interest across the board about this announcement shows it.

>>10576952
It's not gonna kill btc. It will become mainstream and prices stabilize. Gone will be the days of 50x gains but it WILL finally make btc what it truly is - a payment system

>>10582777
How fucking mentally retarded are you? You really think there weren't other stupid fucks saying the exact same shit? Except instead of 15-20k they were saying 4 digit numbers or 3 digit numbers. We will breeze past 15k and then retards like you will FOMO back in. You have so many companies and people like the NYSE CEO saying bitcoin could be the worlds currency, ETFs, more institutions getting in. So much good shit but you're STILL ignoring it? Does Trump need to come out and say that Bitcoin will be the official currency of the world for you to finally stfu?

>>10582913
How the FUCK would a broke bum like you know bitcoin won't be approved lol? Wtf does Okex have to do with being approved?

>>10582824
based jpg

>>10582916
bakkt doesnt pay in bitcoons, it pays in usd

>>10577332
No, it's not. BAKKT is, on paper, an exchange where holders of bitcoin can convert their coins to USD, to use through mobile apps at places like Starbucks. Starbucks involvement in this is to invent the first app. None of you have done any research into what this is, and the players. And most of you are reading what you want into it, without any knowledge of what's really going on.

Which is typical for 4chan.

They have to get regulatory approval for this. If they can get past that hurdle, I might pay attention. I'm not holding my breath.

>>10582920
You're claiming that bitcoin is going to shoot up but you aren't giving or justifying any timeline.

What specific reason based on evidence of Bitcoin's adoption, usefulness, etc in 2018 vs 2017 is there to believe that over the next 4 months bitcoin's price is going to go to 20k ?
what is so different about today vs a year ago that the price is going to go triple within 4 months and stay there?

Please don't answer by saying that someday it will be the global currency because that's just making a forecast without a timeframe which is not what I'm asking.

>>10582970
if you're not holding your breath then who is faggot

you better check yourself

>>10578148
>>It’s hard to overstate how drastically a shift to Bitcoin could crunch those lofty fees. Consumers could pay for groceries or detergent directly from the Bitcoin wallets on their iPhones or PCs, right from a scanner at Walmart or Starbucks, with no banks taking fees in the middle. If Bitcoin became the chief currency for retail, it’s likely that credit cards would disappear.

This was already tried, and failed spectacularly. Retail spending through bitcoin has fallen in 5 years from 270 million to 60 million. Nobody wants to put their paycheck into an app, and have it lose 10% overnight, and retailers don't want anything to do with it.
To get the stability in Bitcoin BAKKT would need to sell this to anyone, they'd have to fundamentally change bitcoin, which they can't, and get the crypto market to give up what they perceive as the strengths of bitcoin, to be regulated, which they can't.

Just because rich people throw money around on projects like this, doesn't mean they'll work. The complete lack of interest from anyone who matters about this shows you how successful anyone thinks it will be - IF they get past the regulatory issue.

>>10582970
so its the exchange.
thats what i fucking said you fag

>>10578289
Bitcoin isn't Santa, dummy. It doesn't go up every December.

>>10583008
The underlying decentralized concept can be augmented with layers of apps/api/websites to enable even a brainlet to go spend with a bitcoin nearly anywhere.

Give me any reason why not, I'm waiting.

Maybe we should bring you to the finance dept. at Starbucks so you can take out your blue pill dick and show them they are making a bad investment.

>>10583008
people don't mind volatility if they think that the price will increase faster than fiat currency inflation in the long term.

>>10583008
bakkt can just create their own token, peg it to the usd and trade it for bitcoin.
its a way for bitcoin hodlers to cash out, but since it pays in usd, theres no point buying btc just to use it

>>10583020
I'm not talking to you, spastic.

>>10583075
yes you are faget that poster is me

>>10583044
>Give me any reason why not, I'm waiting.

It's a layer of complexity to simple transactions nobody wants, or needs, and removes the so-called strengths of crypto. It's another solution in search of a problem. People use apps now, with no need of crypto, and crypto isn't needed by the overwhelming majority of consumers.

Second, they aren't telling consumers that right now, in the US, if they use crypto for anything, it's tax event, and they'll have to submit all records of transactions using BAKKT apps to the IRS, yearly.

WHy would I waste the time of the "finance" department at Starbucks? A. there's no such thing, and B. they wouldn't be making strategic decisions like this, the corporate suite would. But you keep posting, because you totally show your ass and lack of knowledge how corporate US works.

>>10578547
you remember when we played catch with them? I remember, tearing up now memory makes me happy and sad.

>>10583048
>people don't mind volatility
Keep thinking that.

Besides, the price of Bitcoin has no bearing on the services that BAKKT is offering. They're just trying to position themselves as a middle man to transactions, to reinvent credit card charges from vendors. They have to convince companies to not only pay for existing systems, which cost a lot of money, but to buy into a new system, which will assuredly cost money to be part of, and give up the same percentages on transactions they pay credit card companies.

explain how this gets federal involvement?

>>10583211
It requires regulatory approval to exist.

That anyone even needs to explain that shows how ignorant this place is. You fall for every press release and smoke and mirror bullshit that comes along, and start jerking yourselves off over it, and when it fails, as it always does, you'll spend weeks sniveling at "boomers" and "bears" and how nobody understands.

>>10583151
Not a single reason why it wouldn't work. Ok, we're making progress. You shifted to an argument of, "even if it works then who would use it". And your argument is that people can use apps for payment w/ CC.

Consider smart contracts and the money saved without a third party. Consider payment between people or groups without banks without third party. There are more examples, but you would have to be a brainlet luddite to not imagine these and other uses. I wouldn't put it past you.

The last sentence was a meme, and your sub 130 IQ can't interpret anything other than a declarative sentence.

Want to shift your argument again? I'm waiting.

>>10583254
thanks fag

>>10583280
>Not a single reason why it wouldn't work.
Sure, if you ignore everything I've said - which is par for the course for /biz.

"I don't care about reality, i want muh lambo that was never promised to me!"

>>10582777
>the price is only going to get that high if people actually believe that that's going to be the new , stable price rather than a week long bubble and people are only going to believe that that is the new stable price if there is much more news about bitcoin being useful and widely adopted than there is currently or on the horizo

The next ATH will be much higher than $20k. Bitcoin grows in waves. There are plenty of reasons to be bullish. An ETF would allow institutional access. Bakkt should massively increase adoption.
Bitcoin is still a mystery to most people. Barely anyone I've spoken too IRL knows the first thing about it. The FOMO for the next bull run will be unreal.

>>10583462
The irony of your post has not escaped my attention.

Also, I couldn't read your second sentence it was just an illegible run-on with a sick amount of commas. However, the idea of a tax event occurring with each use of BTC seems ridiculous. Big if true.

>>10582960
And they buy btc in order to give you usd. You think they just magically give usd away? They still operate under the market of buying and selling

>>10582002
>yikes

>>10583174
>They're just trying to position themselves as a middle man to transactions, to reinvent credit card charges from vendors. They have to convince companies to not only pay for existing systems, which cost a lot of money, but to buy into a new system, which will assuredly cost money to be part of, and give up the same percentages on transactions they pay credit card companies.
Then what is the fucking point? They're just trying to scam money

>>10582982
Fuck off Redditfag. You've been dealt with.

>>10583959
>They're just trying to scam money
You answered yourself. This is all an attempt to create a new system to skim off fees for transactions, and fees to convert your bitcoin to their token. They're trying to double dip, creating a new payment system that isn't needed, as the current ones work, and will cost everyone involved more to actually use it.

If they get past the regulatory hurdles, which I'm pretty skeptical of.

There is no fucking point, other than rich companies with money to burn buying into Microsoft's Azure bullshit, because they inhaled the Microsoft magic dust deeply. Not the first time, nor the last.

And, it won't stop the degenerate gamblers and desperate get-rich-quick retards here from jerking off all over themselves over it. It might even surpass the etf scam porn. And come November, there won't be a single mention of it.

>>10576903
am i suppose to be all in btc right now or am i gonna miss the moon taxi if i sell all alts for btc, how will i ever decide

>>10584279
Sell all alts yesterday friend.

>>10579028
>brainlet.png

>>10583151
You got it backwards. Bitcoin decides which governments are or aren't relevant, depending on what they do about it.

Learn Jonh Nash Ideal Money, game theory, Schelling points, etc, and maybe you fucktards will ever understand why BTC is going to $1,000,000+

Then again, you are most likely several standard deviations below the IQ required for the task.