/biz/ - Business & Finance

>>17713266
I can buy coke and mushrooms with it

>>17713266
bitcoin is a hedge against central bank fiscal policy. guess what is coming over the next 6 to 18 months?

>>17713266
> Currency - used for circumventing capital flow restrictions in china and other authoritarian countries so much, trading has been banned in these countries. Whenever darknet markets are seized, all trading is in Bitcoin and thousands of Bitcoin is seized.

> Store of value - Best performing asset over the last 10 years.

> Hedge against world recession - performing better than gold this year. BTW, gold tanked in 2008. Bitcoin only has to be a diversifier like gold is not correlating to equities markets.

>>17713266
> stupid high risk bets?

that's it that's what crypto is now

>>17713266
The only use case is a dystopian maximalist fantasy i.e. global financial collapse where fiat becomes worthless and bitcoin becomes global current (lmao)

>>17713266
digital GOOOOOOLD

>>17713824
and the gov't gives everyone unrestricted internet access and bitcoin isn't banned

>>17714000
While trading hand sanitizer and toilet roll for bitcoins

>>17713266
The main problem is that it doesn't fucking scale. For it to be a store of value, it constantly needs people having a NEED to send money illegally and since it can't scale and the fees will go up, the sums need to be big. That doesn't seem like a very stable thing since governments can crack down more and thus the demand would fluctuate. For it to be a stable currency(and thus a good enough store of value), it needs constant demand which means a big market of 100s of billions of USD traded everyday, low fees for people to actually use it and scalable to support a lot of transactions. Tbh LINK would be a better store of value when the Chainlink network is up and running with enough demand since the LINK token would be actually valuable because you NEED it to get access to the Chainlink Network™ thus creating a constant demand for the LINK token.

Bitcoin Boomers will constantly scream muh best performing asset, muh store of value, muh federal reserve without ever explaining the fundamentals or how Bitcoin is gonna evolve for the future. They keep talking about their layer 2 solutions and what not, but still there hasn't been almost any progress for years now. I'd be more optimistic about how Chainlink's oracles are gonna help the scalability through off-chain ways, although I have to admit I have limited knowledge about that subject or how that would work.

>>17713266
>peer-to-peer electronic cash: YES

>>17713266
i am not counting bitcoin out as a store of value just yet
all graphs show maximum hodling and accoomulating
the number of dormant coins is huge
factor in margin calls in a paperthin market and you get wide price swings

watch for the first big eu bank failure with boomers losing everything and being limited to 50€ withdraws per day
it guaranteed to happen and then bitcoin will moon like you have never seen before
just like when the cyprus bank crisis began and bitcoin mooned first to 200 and then 1200 dollarinos

It's never been any of those things. It is a hedge against regional uncertainty, governments which seize assets like gold, bail ins, bail outs, inflation. The single most valuable property is the inability to be seized. When cash bans, amount restrictions, negative interest rates all kick in things will actually get interesting again.

>>17713266
He had years and did nothing. What a dumb cunt.

>>17713266
Boomers are about to pump BTC the fuck up. Not saying it's going back to 20k anytime soon but I predict a dip down to 7200 and then a parabolic run to 10. Screen cap this.

All of you are wrong, BTC is literally going to 240k at least.

>>17713266
it will be the biggest pnd weve ever seen

>>17713487
wrong. literally any commodity is a better hedge against fiscal policy than btc. it's not a hedge.

>>17714447
I can’t even fathom how BTFO you are about to be. Comparing Link, a premined utility token, to BTC... your whole crypto existence has occurred between ‘18 and now and it’s showing.

>>17713312
All these years later and drugs are sill pretty much the only thing you can buy with it.

>>17714802
It's never been any of those things. It's a system where you get points for successfully guessing a number. The points can be traded. Eventually some people decided to trade their dollars for points. People started trading more and more dollars per point. Then we ended up where we are today.

That's literally all BTC is. Any deeper meaning than this is in the eye of the beholder.

>>17716954
Come on then. Explain to me how Bitcoin will achieve a stable(or slightly rising every year due to some BTC getting lost) price point in the future.