/biz/ - Business & Finance

>>15922641
(((economist))) (((banker))) shill

We're actually supposed to be fudding right now but bulls are literally so braindead they cant get it together to save bitcoins next bullrun. I'm trying to catch that ×100 long from the bottom wick and its not gonna happen with you faggots continuing to Redpill people on crypto

>>15922661
Crypto is bigger than profits fag. Crypto is the future. And the more people that realise that and quit thinking that it's just a nerds way to make money the sooner we can become Kings of that future

>>15922677

did you watch the video?

can you refute his claims on bitcoin being a bunch on bullshit (not decentralized, secure ect), and the crypto space just being a cesspool of shitcoin scams?

>>15922677
I don't disagree with you, but I also want to be retardedly rich with minimal work so I'm going to speculate on trades. In fact I know your right, which fuels my desire to FUD until everyone thinks im legally retarded yet I'm sitting on more crypto then they will ever be able to get.

>>15922647

i think he makes some fair points regardless of his economist/banking background

>>15922688
Who cares dude, USD is the ultimate shitcoin. Id rather use BTC as a medium of exchange then USD. Fuck it if its too slow we could use BTC iou's exchange to exchange like its a visa for all I care, btc could be a piece of literal horeshit were trying to trade even, its going to be reserve currency no matter how many people think its stupid

>>15922701

the no inflation aspect is probably the most appealing factor, so that it can't be "devalued"... although it can drop 85%

>>15922641
This guy absolutely destroyed Arthur. Holy shit, it was kinda funny at first but really just kind of sad. Fintech is the real revolution in emerging markets, and blockchain-based currencies are doomed to fail.
Only projects with real utility like ETH and XRP will ever go anywhere.

>>15922641
This retard keeps yelling at BTC since it was 50$
Imagine wasting your life, your mental health and spending energy to stop something that nobody can control
Oh the butthurt...

>>15922688
His claims, while many are true, are non sequitur. But, there's really no need to argue the point. Either grab a bag or don't.

>>15922688
His criticism isn't about crypto itself but the crypto environment.

He's deliberately overexaggerating his arguments because he either hates bitcoin or has an (((agenda))).

>>15922641
just another butthurt boomer who can't wrap his head around pic related and treats the status quo as his orthodoxy

>>15922641
Vitalik Buterin already ripped his anus hole to pieces on stage. He just sat there and took it. Blows hot air constantly.

>>15922641
Roubini is a fucking retard

>>15922641
All new revolutionary world changing technologies are used by criminals completely unregulated at first. As countries and businesses and people figure out how to utilize the new tech to save people time and money over decades it slowely gets regulated, becomes less volotile, and becomes safer for mom and pop investors to use and own. The internet was first used by criminals and it was called a scam. Today everyone uses it. If you decided against investing in microsoft or amazon in the 1980's because regulation was low and scams were rampant you'd be kicking yourself for being an idiot. We are the innovators.

Roubini is based but he also comes from the perspective of IMF/Fed/World Bank, so I tend to disregard most of what he says when it comes to crypto

See this good video of him debating with Arthur Hayes
https://www.youtube.com/watch?v=qlZukhN_C6c

>>15922894
>the internet was first used by criminals
Well i suppose the us government counts..

>>15922688
he's right about the PnD scams existing and whale manipulation within even legitimate cryptos...but does that mean all of crypto is a con? that would be like saying 'hey, this con artist stole my $50USD, all of USD is a scam!'

>>15922701
>USD is the ultimate shitcoin
if the USD had lost half its value since 2017 the way BTC did, there would be blood in the streets

>>15922929
well, on a longer timeline, the USD is fucking you in the ass, unlike BTC

>>15922929
>he denominates his salary in something that is debased exponentially against something that's value is going down exponentially

>>15922894
No, internet was academic project for universities.

>>15922641
OH NO NO NO LOOK AT THE TOP OF HIS HEAD

>>15922929
The usd has lost 99% of its value though. You are guaranteed to lose 2.75% per year, even more duribg recessions and depressions.

>>15922809

yeah true, based

>>15923011

banks pay you interest, and many funds/investments yield more than 2%, so you're not really getting fucked by inflation desu unless you're retarded or something... even in pic related, you'd have to hodl for 100 years for a 95% drop

>>15922971
But the first real world use was by criminals. During the dot com bubble in 1999 scam companies were popping up left and right doing ipos worth hundreds of millions of dollars because the government was allowing pretty much any dot com company to do whatever they wanted with zero taxes and zero regulatory oversight. Government is slow to regulate. When regulation is slow scams are rampant at the beginning.

>>15923011
cpi is not a reasonable measure of value. The price of consumer good gets cheaper with time (moores law, wrights law). Central banks don't measure cpi they change the definition of the index to make the inflation figure between 0 and 3% >>15922852


it is ~7%pa against gold.
which is how the dollar was initially defined.

>>15923032
Noone pays you interest higher than inflation so you are still guaranteed to lose money every year. Just less money. Most people don't have savings accounts as well so they don't get the benefits of interest. You also can't really start examining the chart until 1971 as that's when the us offically closed off the gold standard.

>>15923032
>usd can't be a scam since you lose your money slowely.
Retard.

>>15923073

top dividend stocks pay you more than inflation, and a bunch of others..

>Most people don't have savings accounts as well so they don't get the benefits of interest
if they don't have savings they aren't getting fucked by inflation

>>15923113
just figure out how to make more then 2% a year return... not difficult ..
not saying inflation ins't a scam, but its not as bad of a system as it could be

>>15923073
the inflation figure a central bank reports is meaningless because cpi is meaningless. It changes every year and it measures consumer experience, not objective value. i.e it will measure cost of "consumer electronics" even though the price per byte of storage or hz of processing capacity per dollar is decimated every decade.

the dollar loses ~7%pa against gold. Gold is the best measure of value over time because its value changes the least.
Measuring value in tonnes of dog shit would be more accurate than usd because at least there is some kind of market forces controlling the supply and demand of dog shit whilst cpi is just a way of making the inflation number come out between 0 and 3 every year.

don't forget this means you lose 52% of value stored in fiat or contracts denominated (salary)in fiat every decade: 1-(1.0 - 0.07)^10 = 0.52

and the 7% is just the average since the establishment of the fed:
usd lost 45% in one year during the new deal 1933
usd lost 97% of its value from 1971 to 1980 after nixon stopped the gold standard
usd lost 85% from 2001 to 2011
usd has lost 99% of its value since 1932

>>15922641
2:39
Snakehole peddlers

>>15922641
(((he))) is fuddin

>>15922894
bitcoins adoption is at 0.1% worldwide fyi

>>15923384
It's adoption is capped at 1mb/10min.

bsv is bitcoin. unlimited adoption capacity next feb

bitcoin is a shitcoin
they're all shitcoins

>>15923384
Not talking about the adoption of btc. I'm talking about crypto as a whole. In the dot com bubble 16% of americans had money in dot com companies.

>>15923384 #
Not talking about the adoption of btc. I'm talking about crypto as a whole. In the dot com bubble 16% of americans had money in dot com companies. About 7.95% of americans have purchased crypto. In the next bubble which will be the dot com bubble equivalent for crypto about 16% of americans will own crypto and the total crypto market cap will aproach the market cap of gold which currently sits at $8 trillion usd. The market cap of gold in late 1999 was just under 4 trillion usd. The market cap of dot com companies in late 1999 hit just under the market cap of gold before it collapsed ~3.5 trillion.

>>15923384
Not talking about the adoption of btc. I'm talking about crypto as a whole. In the dot com bubble 16% of americans had money in dot com companies. About 7.95% of americans have purchased crypto. In the next bubble which will be the dot com bubble equivalent for crypto about 16% of americans will own crypto and the total crypto market cap will aproach the market cap of gold which currently sits at $8 trillion usd. The market cap of gold in late 1999 was just under 4 trillion usd. The market cap of dot com companies in late 1999 hit just under the market cap of gold before it collapsed ~3.5 trillion.

>>15923146
Stocks are completely differwnt from the usd. Stocks are volotile and their value is not guaranteed. Just like crypto in that respect. People own cash and have debit accounts. Mist people are having 100% of their money affected by inflation.. no interest.

>>15923400
rofl you sv niggers know nothing

>>15923511
>crypto as a whole
that's a mirage

>>15922641
>Nouriel Roubini

>>15922688
Dude works for banks and every btc hearing at government places he goes to shill to destroy crypto.

This degenerate went as far as saying that no one ever does transactions with crypto lying to politicians.

He is a keynsian motherfucker and knows his scam is over if crypto takes over , so he is scared because his entire school of economics is about to be destroyed by satoshi.

>>15922894
>We are the innovators.


Nah, the innovators are the whales with 500k bags. We're late adopters at best.

all of his criticisms are either outright false or spun in a disingenuous way. I am under the impression someone is paying him to talk like this, I find it hard to believe he is actually as fucking stupid as he sounds

>>15922641
>people gamble on bitmex
>bitcoin crippled itself with the block size cap
>it's volatile
what did he say that I didn't already know

>>15922641

nouriel jewbini's only relevant because crypto conferences keep giving him a platform.

>>15922647
https://m.youtube.com/watch?v=2ysfjNcVUGc

>>15922641
He's bankrolled by Craig

>>15925564
>a goddamn kike hooked up with a homo conman
WHY AM I NOT SURPRISED

>>15922641
he might be right, he might be wrong. All I know is that our economy is completely irrational because of the actors behind it, so his reasoning doesn't really make any sense

>>15922641
>Nouriel Roubignole