/biz/ - Business & Finance

I've got $50k worth of shitcoins and another $40k in the bank. Bring on the recession.

>>11574395
>goes all-in on crypto
>50% of your net worth still evaporates

>>11574525
Nope. Crypto will be fine.

>>11574600
If it behaves anything like other commodities such as gold, no it won't be.

>>11574600

>>11574395
Aren't you stoic.

>>11574600
People will flock to cash, as they always do. People trust USD, whether you like it or not, and will actually pull out of crypto if a big recession hits (which is looking very likely).

>>11574624
>>11574658
Nope people will gamble

>>11574664
you honestly have no idea how recessions work and prefer to cling to what you want to happen, rationalizing it with your bias. 2008 made people trust investing even less across the board, and the same generation experienced the crypto bubble and most got burned.

Why the fuck, when they're struggling to find jobs amidst layoffs, would they throw money they need for bills and food back into crypto?

>>11574676
Crypto is different. Crypto has actual use that transfers over into the real world. Boomer stocks no longer matter. Crypto is the future.

>>11574705
>crypto has actual use that transfers into the real world

you are being delusional. What uses does crypto have IRL?

>>11574658
except fiat is going to get wiped out
nobody wants a depreciating "asset"

>>11575070
A global uncontrolled, transferable currency.
No gubermint can say "bailout" no Draghi or Bernstein can print 1trillion of it as they wish to conjour the next keysian revolution.
Its just money like gold and silver coins except on the danknet.

>>11574658
It depends on how the recession begins, last time it was the banks, Lehman brothers crashed etc..
If the recession is caused by an inability to pay off debt, it could lead to hyperinflation, in which case physical cash is the last thing you want.

>>11575263
very odd that our deficit raised hmm........maybe they'll print more dollarydoos............

>>11574395
I would go into crypto but I only have enough shekels to buy physical things like food and bullets. Everyone else I know that didnt chip in can straight up go kill themselves

>>11575302
in the worst of all depressions you would actually be off best with nothing but food and ammo. its the other 99.99% of possible scenarios that you stay poor in.

>>11575302
maybe stock up on cheaper stuff that you will be able to barter like prescription meds, alcohol, cigarettes

>>11575379
Batteries.

>>11574395

well I don't know about a recession

but if cryptos get even more popular on biz, you can tell with one glance on

merv.tech

>itt people who don't even know why Bitcoin was first created

I'll give you a hint it was soon after the 2008 recession.

>>11574658
People will be trying to chase their losses through gambling high-risk investments. It's the human nature.

Crypto will only take off if TPTB want it to happen and signal that fiat is being phased out.

>>11574395

>>11575612
yes....yes....natural...

>>11575612
>Mnuchin's family is Jewish.
Every fucking time
Buy the top goyim your (((friends))) need to cash out

>>11575191
i have lived through 2 hyperinflations fiat is not going anywhere.

>>11575937
are you from argentina, venezuela, zimbabwe, or some other shithole? fiat didn't go anywhere because there were no other options before (inb4 muh shiny rocks). there are now.

>>11575937
crypto didnt exist then now did it faggot

>>11574395
>crypto
>resilient
And what will happen to crypto when recession will impact Chindia and they will start buying food instead of internet money? Personally I'm investing in rice sacks.

>>11575947
hungary i think we got the world record set for inflation back in the days. the point is inflation doesn't make money worthless it is still a unit of account and a medium of exchange used every day. you adjust the prices faster in your head keep your wealth in jewelry foreign currency and real estate and bonds that yield 40% or more a year and stuff. it's like you adjust to it within a few weeks than live on as before with minor changes. you people think inflation is some universal tragedy but the truth is you barely notice it.
>>11575948
crypto is still not practical for everyday use, it won't really change anything except one more possibly inflation proof asset to pick from but trust me there is many.

>>11575969
What do you think about the current situation? The Forint is basically at an all time low and the ideological separation from the rest of the EU isn't helping it I think .. Is it wise to invest in Hungary right now?

>>11576028
>Is it wise to invest in Hungary right now?
hell no, i'm trying to get out as fast as possible. this country is going down the shitter trust me. only a matter of time until it regresses from an emptied out democracy to the turkish model.

>>11575969
You're actually the dumbest nigger in the thread.

>>11576038
well you will see i'm right. especially if you are murrican. you will see it very soon. inflation barely changes anything prices go up, wages go up, interest rates go up, stocks and bonds go up, assets go up real estate goes up in a never ending cycle. only the morons that keep large amount of cash under the bed get burned everybody else is fine.

>>11576059
You clearly don't live in America.

>>11574395
im almost ALL IN

>>11575969
>the point is inflation doesn't make money worthless

Money doesn't inflate you dummy. You're thinking about currency which =/= money.

Money is supposed to be store of value. It's an integral part of how money functions.

>>11576072
i don't but i don't think all americans are magically dumber than the rest of the world. some of them maybe. but people adapt to inflation even hyperinflation naturally. it's not a big deal and crypto functions inn the setting more like a foreign currency. it's a big deal for dictatorships and other shitholes where the state tries to set and enforce an exchange price to foreign currency in a retarded anti-market way. there crypto is actually useful. in the western world where people can just forex and buy any currency at their banks freely it makes very very little difference. again if you have to run with your wealth crypto is more useful but it's unlikely americans will come to that.

>>11576059

>wages go up

Look at him! Look at him and laugh!

>>11576123
>Money is supposed to be store of value.
truly you have to add a timeframe to that statement. money has to be a store of value for a reasonable amount of time to function as money. in extreme cases of hyperinflation you lose half your purchasing power as you get home with your salary that's the end of it. but so long you can spend it on value for a few weeks money can function as a unit of account and medium of exchange (which is the primary function truly, being stable just makes it more practical). i grew up like this so yeah every year out money was worth less but we also got more of it. prices went up like crazy but not that crazy that we couldn't use it.

>>11576134
uhm... and the sky is blue. go on laugh!

>>11574516
If it's in a bank they'll take it in a "bail-in" or the bank will close to prevent a bank run. It has to be cash, gold, crypto (your private keys!), land, canned food, bullets, cigarettes, etc. Shit that you actually hold and control. Not a fucking bank deposit.

>>11574395
The economic indicators for a recession of that magnitude aren't there. But you keep thinking you have even a shred of an idea about what's going on.

Now, a correction? Maybe. Maybe not. The markets are most likely being rigged right now for the election, and I suspect it will be business as usual afterwards.

I see no signs of a coming storm - there's stuff to keep an eye on, but nothing like 2008 or the other periods of recession. We keep kicking the can down the road, and I honestly don't see it stopping any time soon.

>>11574705
People that lose their jobs in the US have absolutely no need to send money around the world.

You're just posting the usual hopium. If a crisis hit tomorrow, all cash would go to paying bills and buying food, not buying hopium coins.

The people who don;t lose their jobs MIGHT buy the dip, in all markets. That also happens in recessions and economic crisis.

>>11576163
nah in a recession prices go down, it starts with deflation inflation only sets in when the productivity and thus gdp already gone to shit. but of course the money prints will start sooner, and once again most of it will go straight into stocks and real estate not consumer prices. debt will grow and nothing much will change this is not gonna be the pop of the debt bubble yet. it will be like 2008 exactly only bigger.

>>11575379
Ammo would mean shit in a depression, you fuckwit.

>>11576151

FIAT is currency. In no way is, or will, it ever be money so you should stop calling it that. Gold is money.

>>11576191

You don't really even need to print any currency for hyper inflation to kick in. All you need is that some of the currency stuck in reserves, stocks, bonds etc floods the market when people lose confidence and start to convert them to tangible assets.

>>11574664
Sure thing faggot, once you have to sell your house to feed your fucking children first thing you do is buy a speculative asset

>>11576227
in the us case more like if all that currency on foreign land comes back like a tsunami. i can't see the murricans losing faith in their own currency by random chance.

>>11576212
>FIAT is currency.
money is what you use day to day it is also legal tender. when you use gold coins in the supermarket and to pay taxes it becomes money until it's just a speculative asset. a foreign currency is not money for the same reason.

>>11576179
lel. you're fucking retarded, bro.

>>11576033
Thanks bro, yeah it seems similar to the Turkey situation.
Good luck to you, hope you find something better

>>11576294
>money is what you use day to day it is also legal tender.

No, that is currency. Money is a store of value which FIAT is not and never will be.

>>11574705

>>11574395
>>11574600
The market and crypto go hand in hand. Nearly everytime the market has crashed, crypto crashed alongside with it.

I've never been a grownup yet during a recession. What does it actually mean, more unemployment among the uneducated? Cheap real estate? Less cafeterias in business?
It doesn't sound so bad to me.

>>11575379
Apocalyptic scenario for survival but not for profit

>>11576688
>No, that is currency.
no it's literally the definition of money. don't fall for the goldnigger terminology!

don't listen to this idiot

If u dont understand how well btc will do in an economic collapse then i see you as far too stupid to debate u about even money let alone bitcoin.

>>11575958
India is demographically very different from China and sufficient domestic market strength to buffer any global economic recession barring few temporary dips.

>Not putting it all in the Chinese Yuan

>>11576179
Fuck. Am I really reading this. Look at CAPE ratio chart, morons.

Serious question bros... Is there a way I can protect my worth from a recession that isn't risk in the form of crypto

>>11574395
Post this shit on twitter

Everyone needs to spam this everywhere they can.

Investing youtube comment section, twitter, stock twits.

>>11575204
It also provides superior immutable social media and monitization schemes that were never possible before. Content creators will be able to make content without constant fear of getting randomly banned by some authoritarian asshole.

Crypto also integrates well with video games.

>>11576190
>a rational, well reasoned argument
>on /biz/ of all places
Sh..shut up

>>11578722
Dividend stocks from old companies