/biz/ - Business & Finance

>>16117466
>reddit

>>16117466
The Keynsians got him

>>16117466
>prophecy
Here we go again

it means he's a giant faggot who was right once

>Snowden behind Asuka
>Greta behind Time Traveller
4chan and Reddit all united once again

>>16117466

since OP is a fucking faggot i'll post the update here:

1/2


>Update, 27 oktober 2019:

>Well gee, this blew up.

>Bitcoin should not be treated as an investment, it should be recognized as a speculative negative-sum game. The Bitcoin system currently consumes an estimated 3.6 billion dollar worth of electricity on an annualized basis, just to update the ledger that contains a record of everyone's transactions. This enormous consumption of electricity is indirectly paid for by people who invest their savings in Bitcoin, as a consequence, money is continually "leaking" from the system.

>As a Bitcoin investor, you're paying for Chinese businesses to waste electricity by solving an abstract math problem that is designed to get continually more difficult. Besides ensuring that many people lose vast sums of money while a small minority of early adapters is enriched, Bitcoin causes tremendous ecological damage in an era when we should be focusing as a society on reducing our carbon emissions.

>The Bitcoin developers responsible for updating the protocol appear to have no genuine intention to introduce code changes that reduce the ecological damage caused by Bitcoin mining, so my suggestion has to be to sell your Bitcoins, which indirectly has the effect of reducing the ecological damage caused by Bitcoin mining.

>Theft and loss of coins are also enormous problems affecting Bitcoin, so although it is theoretically possible to store your coins in a safe manner, history has shown that a lot of people will simply lose their coins, further illustrating why Bitcoin is not a good investment option.


cont/

>>16117466
>reddit
are you fucking serious?
>muh doesn't produce anything
just like commercial bank """investments""" and financial market
the only difference is that bitcoin is custodial and you don't need to deal with private bankers
and you are immune to stupid central banks decisions to pump the s&p otherwise global economy collapses
>muh if you loose your btc you cannot recover it
that's the entire fucking point faggot, it's custodial, no government, institution or bank can freeze your assets
>muh environment
most of btc mining is done with renewables, and banking system consume way more energy (different order of magnitudes), let's start wiping out deutsche bank from this planet, we will save much more energy

>>16117866

2/2

cont...

>The other cryptocurrencies share most of Bitcoin's flaws (resource waste, no protection against theft or loss, vulnerable to market manipulation, etc), but most importantly, what sets cryptocurrencies apart from proper investments is that these coins don't produce anything. If you invest in a company, that company can use the money to deliver more products. If you buy, silver, gold, bitcoin or beanie babies, you're hoping someone else will come along one day and pay more money for it. History has shown that people who invest money in the stock market will generally end up witnessing much higher returns than people who buy gold.

>With that said, I hope this story has entertained you and helped you recognize some of the problems our society would face if we ever witnessed widespread adaption of Bitcoin or similar digital currencies.


TL;DR = OP should fuck off back to r£ddit and the 'citadel prophecy' was posted by some hippy faggot that thinks climate change is real

>>16117874
>History has shown that people who invest money in the stock market will generally end up witnessing much higher returns than people who buy gold.
only if central bankers wake up and print 100 billions a day

>>16117874
>TL;DR = OP should fuck off back to r£ddit and the 'citadel prophecy' was posted by some hippy faggot that thinks climate change is real

lmao, no surprise. Fucking reddit fags are cancer.

> 100k in 2019
okay

Ok Boomer

>>16118068
as a future board of regents member of the citadel network, I put forth our first resolution: timetraveling reddit homo is banned from the citadel network.

>>16118241
Based and Citadelpilled