/biz/ - Business & Finance

How can you even say that after the past 8 days?
Crypto is a scam. Now actually PROVEN to not work as intended.

>>17672171
What proof? Bitcoin transactions work fine.

>>17672171
>dow goes down 13%
>ftse goes down 12%
>btc only goes down 16% after this marketwide drop
is that all you got?

>>17672189
>Go moon
>Crypto is supposed to be detached from the financial market!
>Crashes harder than the fucking stock market and all the sectors
>Before the economy sharted itself even
lmao

>>17672246
why was btc invented in the first place? give me a correct answer me or you lose

>>17672136
Why?

>>17672136
>crypto
gold and silver
failing that bullets, clean water, canned food, a medical degree

>>17672246
Who said crypto was supposed to be detatched from the financial market? All assets crash in a recession. Bitcoin will moon after the crash.

>>17672263
>It's a store of value!
>Goes 80% up one day, crash 120% next
Store of value is gold, silver, platinum, actual real physical goods.

>>17672296
WRONG

>>17672246
Works well on my RSR.

>>17672136
Crypto has not yet seen a global recession from peak to trough. It was created during the last one, but we are in uncharted territory. Tbh senpai we need investors to get btfo and crypto to be adopted as actual money that people use as digital cash. Then we moon slowly

>>17672303
Lmao, alright timmy, tell us the truth only you are beholden to.

>>17672308
Thing is, due to the instability of the value, only speculation hunters buy into crypto. Hell, 99% of the cryptofags on /biz/ aren't thinking about this getting adopted, they're thinking about TO DA MOON get rich quick fantasies when they dump.

>>17672327
>he doesn’t know
>>17672363
redditor detected

the crypto fad is finished
time to get a real job, pajeet

>>17672171
This
Someone also posted over the weekend how localbitcoin has essentially collapsed since December

>>17672136
look at the dollar chart and bitcoin side by side

>>17672411
Ah, so you don't know, just trying to derail conversation to avoid the current facts.

>>17672239
The current price of bitcoin has nothing to do with its use case. You all are dumb and have short attention spans and even shorter perspectives on history. This potential recession isn’t dangerous because of stocks losing value. It is dangerous because the people who control our money try to fix this buy creating more money (I.e. more debt for us) out of thin air. Now everything is more expensive to us and we are more indebted and have to trade more of our time to survive. Do you really want some group of people deciding how valuable your time is?

I’ve been trying really hard to spark some thought in the very myopic Community here. Does anyone even care anymore? Or is everyone so short-sighted that they just care about the next 15 minutes?

>>17672496
here’s a tip you mental trainwreck. check the year satoshi published the BTC whitepaper

>>17672499
Goldfish meme is real

>>17672296
"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution."
- Satoshi Nakamoto
It works fine.

>>17672263
Good luck convincing normies to trade fiat for BTC "peer-to-peer currency" that they can't use anywhere except in exchanges and a few online stores that would still peg BTC to fiat.

Also, wake up call: there is no escaping this anymore. You can’t just move to a remote place and set up shop and take control of your own life. Wherever you go, you will ultimately have to trade some of your time for debt papers or you will be imprisoned. Also, anything you want to build, you have to trade your time for those supplies or else you’ll be imprisoned. The more currencies get inflated, the more of your time you have to give away. The older you get, the more you realize time is extraordinarily valuable and limited.

You all are wasting most of your time trying to garner debt receipts. Bitcoin is the first piece of technology that gives humans a chance to escape this stupidity and has the potential to guard us against this inflation. The only hope is increased decentralization of bitcoins so it doesn’t go the way of gold.

Even gold is no longer safe and we just got a sample of that when we saw $3B of notional value dumped on the market.

>>17672591
Do you honestly think the majority, from twitter nigs to the /biz/fag electiontourist are here for "peer-to-peer currency"?
You're a gullible fool if you honestly do. They're here because they saw those big green %s in dec '17 and wanted "in" on it. Hell half the /pol/tards back then came here to "beat the jews and get richer than them"

>>17672499
Most people these days, on this site or otherwise, have completely fucked attention spans. Constant exposure to digital media has done bad things to us. I think the people who type out longer, higher quality posts also tend to post less often. That doesn't mean we arent lurking. Keep it up, anon, you're not the only one of your kind out there.

>>17672623
this
crypto is a fun new way to gamble with trust funds, but it will never catch on as a legitimate way to conduct real life transactions

>>17672651
My point still holds. The purpose of Bitcoin is to be peer-to-peer electronic cash and it works. The fact that some people lost money speculating on Bitcoin doesn't mean Bitcoin doesn't work.

>>17672733
>The purpose of Bitcoin is to be peer-to-peer electronic cash and it works.

No, it doesn't work. No one's going to wait an hour for their transaction to confirm in order to buy a cup of coffee.

>>17672801
It takes a week for your transaction to confirm when you buy a coffee. They just give you your coffee before the transaction is confirmed.

>>17672832
in what scenario?
>hand cashier cash
>hand cashier credit cards - scanned and approved

>>17672733
I'm not contesting the concept, i'm just saying that the majority don't give a shit about the intention of BTC, they just want quick profits and then go back to FIAT

>>17672801
>No one's going to wait an hour for a Bitcoin transaction to process when they can use a credit card which takes a week to process transactions

>>17672876
>hand cashier credit card - they give you the product straight away and wait a week for the credit card transaction to get processed.
>hand cachier bitcoin - they give you the product straight away and wait an hour for the transaction to get confirmed.

>>17673003
Think of how long it takes the financial institutions handling the funds to verify, transact, etc and all the bull shit they have to do in order to facilitate all of this.

>>17672363
>they're thinking about TO DA MOON

>>17672296
oops
you got it wrong, newfag
here's a hint: bit torrent went against hollywood and the media lobby with billions of dollars and lost
the kikes had a crushing humiliating defeat
now guess what happens next

>>17672651
you are pathetic
people are in bitcoin to control their money without a fucking trusted third party
math is money and you are a fucking dead kike

kikes can only do middleman jobs, if you eliminate that from the world, the kike starves and ceases to exist
you are going to fuck your mother if you want fuck

>>17672136
the only thing that will cause crypto to moon relative to fiat is hyperinflation

>>17672499
Dubs of truth