/biz/ - Business & Finance

>>11903588
>samefag initiated

dubs confirmed

>>11903588
what is gold backed by?

>>11903620
3000 years of being sound money

>utility usage
I get vicariously embarrassed when brainlets try to sound smart.

>>11903657
and today it isnt

your argument is flawed

- gold is not used as currency
- not backed up by anything
- no utility (gold rings and stuff doesnt justify its value price)

Cringe

>>11903588
Lol. Art has no utility value and acts as a store of value. Crypto has mathematically provable virtual scarcity. It will be 100% required in the next century as a hedge against asteroid mining reducing everything to its industrial value. FFS, AI is going to fuck with art too. /sci/ is surprisingly shit at futurism. Truly Bill Nye tier thinkers.

Holy shit its over, /sci/ is right, im dumping everything for fiat

>>11903620
Rappers / media

>>11903675
and your imaginary runescape gook coins are worth thousands but still ‘undervalued’, amirite?

>>11903620
And women unironically.

>>11903620
>what is gold backed by?
by not being gay funnymoney LMAO!
you think hundreds of generations got it wrong and you got it right?

>>11903697
crypto iffy nigga

>>11903588
Heehee /dumb/ is at it again.

Crypto is backed by literally the most valuable resource in the world: electricity. Nice brainlet tier post

>>11903675

It is used as a conductor.

>>11903690
> t. brainlet NEET fueling his delusion with false presumptions as a coping mechanism

>>11903588
this thread again

>>11903715

Bool wun


Cheap coin

>>11903715
this.

these fucking zoomers i tell you. they really think they’ve outsmarted the fucking bankers

>>11903620
It takes billions of years to deteriorate.

>>11903588
Fiat isn't backed by force.

>>11903762
>Fiat isn't backed by force
It literally isn't backed by anything else.

>>11903588
>duurrrr what is gold

and before you say "gold has industrial uses", gold has never historically derived any of its value outside of its use as a store of value. Any industrial uses for gold have been within the past 100 years.

>>11903762
All that spending by the US on its military? Yeah there's a reason for that.

>>11903620
Human vanity

>>11903762

This is your brain on biz

>>11903732
>It is used as a conductor.

you're an idiot. How long has gold been used as a conductor? It's been used as store of value for the span of human existence, and accepted as a store of value by every civilization on earth that encountered it.

>>11903675
Gold is used as a store of value. It has been able to do that for literally thousands of years across almost all cultures.

Bitcoin is a shit ponzi for retards and nig nogs.

>>11903620
>>11903657
>>11903715
>3000 years of being sound money
>you think hundreds of generations got it wrong and you got it right?
imagine thinking that the millenials and zoomers who never look up from their phones and play fortnite all day are going to use literal physical gold in the future if money gets less stable

imagine thinking that the people who are comfortable with not only gays getting married but also men claiming they are women and forcing the world to refer to them by their preferred pronouns and possibly chopping their dick off with full support from the community are going to have a problem with the idea of 0s and 1s as money

imagine thinking the people being fed a steady diet of "nationalism is evil" will want money backed by an ebil national government instead of global digital money

imagine thinking the nationalist ones will exclusively prefer to use traditionalist money when they are being blocked out of the "traditional" systems daily

imagine thinking the the kids that spend all day on laptops and tablets during school now, far more advanced than anything people who grew up on the 80s and 90s did, won't "get it"

IMAGINE thinking that the kids who grow up FAR preferring to spend money on virtual fortnite SKINNER BOXES than on ANY physical goods, for a game they don't even OWN a physical copy of, will want to trade in heavy, literal bars of gold or little pieces of paper and metal instead of instantaneous internet based concepts like they are more used and to and comfortable with


go ahead and screencap this post, if 4chan(nel) is still around in 4 years, November 25th, 2022 repost this and we will see who was right

>>11903777
The US military doesn't stop the FED from printing the shit out of it

>>11903923
Literally came in to post this exact thing

It's used to buy drugs, there's your utility usage.

>>11903923
people are not going to actually use pieces of gold you retard. good job wasting your time typing up that rubbish.

>>11903745
>>11903715
it should be noted that while gold has value, that doesn't necessarily make it a good investment. knowing whether something is a good investment is predicated on understanding whether it's over or under valued, especially with reference to ways its value might change in the future.

If you think gold mining techniques might become cheaper and more sophisticated in the future, you'd be best to bet against it. If you think all the easy gold deposits have been found, and only more capital intensive extraction methods will bare fruit in the future, then you'd best bet for it.

>>11903923
You amerimutts have let the fact that you have the world's reserve currency get to your head. Let's see how fast you'll turn to gold when the fed starts crashing ctrl+p ing the shit out of US markets.

>>11903886
>Gold is used as a store of value. It has been able to do that for literally thousands of years across almost all cultures.
but what if People stop telling that Gold is worth a lot? then it stops being worth a lot.
nothing that lasted for thousands of years ever came to a halt, right?
flat earther detected.

>>11904092
>it's sound money for 3000 years
>people are not going to actually use pieces of gold
pick one

>>11903923
this, crypto is popular because literal children are obsessed with it. The crypto-cut off is about 37 years old, past that the concept is just WOOSH.

>t. zoomer that has a near 6 figure job 2 years after dropping out of college at 20

>>11903620
unique chemical and physical properties

Sure gold has many properties that makes it useful material in tech. However how much of golds price comes from utility value?

The truth is that gold is backed by jews.

>>11903588
Bitcoin is backed by mathematics.

>>11903588
amazing to me that /sci/ and /g/ have all the technical skills to become multi millionaires, and all they yearn for is a job interview for a 60-200k/yr job in a cubicle. The kicker is that those jobs are going to pajeets and roasties.

>>11904092
>people are not going to actually use pieces of gold
>i'm literally retarded

yea, people would never use gold as money and government don't stockpile it as part of their national reserves

>>11903588
scifags as a rule don't know much outside their area of expertise, but think they do bc big brain thus they often are worse than random chance.

much like most traders on picking stocks.

>>11903923
Based and zoomerpilled

>>11904092
Genuinely amazed at how retarded you are

>>11903620
jews

>bitcoin is dead

>>11903588
Brilliant morons.

>>11903588
Fug I always knew /sci/ is full of brainlets!

>>11903923
This

SOMEONE POSTED A PICTURE THE OTHER DAY SHOWING 5-6 WESTERN BANKS ARE HOLDING 10-15% EACH OF BTC
PLS REPOST
TY
brapper posting for payment

>>11904834
someone must have it
one was barclays, another was jp morgan

Cooperation is more powerful than coercion.

>>11905027
Amen to that.

>>11904818

Imagine when those zoomers grow up...biz can't see it. They literally fucking can't see the MASSIVE fucking bull running straight towards them.

>>11903588
>implying anyone on /sci/ is employed
It's a reddit containment board

>>11903588
I don’t give a fuck if you cunts think crypto is dead. I’ll hold this shit to $0 if I have to.

>>11905159
>hodler
https://artschaft.wordpress.com/2018/06/26/ferdinand-hodler-the-disillusioned-one-1892/

>>11903620
>>11903675
gold is used in electronics and one of the few elements that it is relatively easy to make super conductive. The later is why the coils at LHC in CERN are made from gold.