/biz/ - Business & Finance

>>18439400
Checked. Unironically how does 10-20k sound champ?

Peter Schiff keeps saying the real value of 1oz of gold should be around the price of the Dow. Is he pulling that out of his ass?

>>18439487
>if happens, I sell all me gold
>tfw i rich because i bought the gold meme

>>18439487
Schiff has a lot invested in GLD and has always shilled it, meanwhile constantly trying to devalue crypto as it takes money away from GLD. He has some good points, I don't why there can't be both.

>>18439464
Feels comfy as FUCK

never selling

>>18439487
Have you seen his wife damn that Jew boy is Redpilled Based Alpha Chad fo sho yo

>>18439558
there will be both, but crypto is merely currency/convenience and is not by itself a store of value. I like the idea that crypto can be built on top of a real asset like gold, so you can buy a pizza by transferring control of 0.001oz of gold digitally

>>18439716
and to be clear this is NOT a gold standard, any gold would be warehoused privately and available for delivery/audit

>>18439716
>crypto is merely currency/convenience and is not by itself a store of value.
>I like the idea that crypto can be built on top of a real asset like gold

How do you even get locked into these fucking intractable mental grooves like this? Is this what happens when you reach Boomer age and your neuroplasticity has atrophied?

>>18439716
>and is not by itself a store of value
bitcoin been a better store of value in pretty much any 3 year period than anything else on the planet.

>>18439789
Im sure everyone who stored their wealth in bitcoin in dec'17 agrees.
yes they were brainlets

Lol I feel bad for the silvertards who fell for the dealer scam

>>18439738
>warehoused privately and available for delivery/audit
oh the custodial fractional reserve schemes we will play again...

you fags never learn do you? this is how fiat started... first just swap notes on warehoused gold for convenience... then suddenly you have more notes than gold but it's not a problem becasue nobody wants their gold at once right? then you barely have any gold but a lot of notes but it's fine because nobody uses physical gold right? so why have any gold reserves at all in the end? and you are right back where you started.

>>18439826
doesn't matter when you buy in 3 years it will be insane good gains compared to dumb rocks.
last years high is next years low.

>>18439716
It's not cryptocurrency if it's based on a centralized asset held in some company's warehouse dumb ass

>>18439789
lol

>>18439840
>>18439789
largest gainer != best store of value
btc is a speculative asset, not a safe haven

I'm posting it again

>>18439844
Theres no such thing as a decentralized asset. Its an absurd concept.

>>18439829
no ones stopping you from using physical gold, as I said this is a convenience thing so you dont have to barter

>>18439985

>>18439716
sounds like you want tetherAU

>>18440066
Then shut the fuck up about crypto because you clearly are not its intended audience. There are plenty of services online that let you store and transfer gold remotely and you don't need a token to do it you brainlet

>>18439903
there was only one 3 year period where bitcoin made a small loss but all other 3 year periods were decent to insane gains. which seeing how inflation exists makes it the best store of value in this planet especially that it is unconfiscateable and unstoppable.

>>18440146
Youre right, im not the intended audience for XYZ speculative shitcoin. I want a crypto that actually acts as a currency and cuts government out of the deal. We dont need to lie and pretend its decentralized when its not.

>>18440088
with crypto you transfer the entire asset with all it's intrinsic value. has mathematical hard coded scarcity. more convenient modern programmable there is no limit tot the amount you can take with yourself on a plane.

it just shits all over the boomer rocks.

$2000/oz when?

>>18440066
>Its an absurd concept.
you are a boomer aren't you? peter right?

>>18440187
>all other 3 year periods
How long has it existed?

>>18439867
go on show me a 3y period on that chart where bitcoin was not a store of value from beginning to end!

>>18440232
>dude read the whitepaper
>not gonna spoonfeed you
im just not interested in investing in paradoxes

>>18440248
obviously if you started from before it began it's existence it would be infinite gains and that's not fair to the other assets.

>>18440207
Ok but that's not cryptocurrency

>>18439487
>Schiff
>pulling stuff out of his ass

Dude... he writes books about stuff he completely pulls out of his ass.

He is way too slim for someone soind so much shit, he must have a ghostshitter making up all this shit.

>>18440293
>REAL cryptocurrency has never been tried!

>>18439400

Gold will return.

You cannot print yourselves rich, westerners...

Can't wait to buy property with a couple of oz's
feels good man
crash real estate crash

>>18440305
Cool non sequiter.

All your describing is Tether backed by gold rather than the US dollar and we all know how legitimate and sound tether is

well fags confuse the term decentralized a lot lately.
it really just means 1 thing: there is no single point of failure. there is no single person device or legal entity that can paralyze the network if taken out of the equation.
that's all decentralized means. paypal is not decentralized coinbase is not decentralized banks are not decentralized even if their it infrastructure is probably redundant enough to technically not have a single point of failure.
but bitcoin is absolutely decentralized. not as much as it would be ideal in some aspects but it is decentralized enough.

>>18439464
sounds like a lot of taxes

>>18440367
WOW you really figured me out. By advocating for a regularly third-party audited private gold storage service I was clearly describing tether

>>18440372
Its mathematically impossible to build a decentralized service on top of a centralized one (internet). This is why no one takes you seriously.

>>18440431
Tax write off you mean. I just realized I lost all my gold on that boating accident.

>>18440466
good luck with that

>>18440443
Actually I was just drawing an analogy but:

> By advocating for a regularly third-party audited private gold storage service I was clearly describing tether

It's actually kind of funny at how that is word for word how tether describe themselves but replace the word gold with the US dollar lmao. There is literally no reason for a gold backed "crypto" to exist. It would open up so much room to fuck holders of the currency over that I don't even understand for what reason you would that unless you are a big dumb dumb which you might be

>>18440518
what third party regularly audits tether?

>>18440465
no it's not first of all the internet is decentralized by design if you read up on arpanet project you will understand the motivations and design principles behind the modern internet. second even if you have a centralized service for transmitting data encryption makes it possible to be completely censorship resistant.

>>18440538
None which is exactly my point moron. They literally lied, which is the same exact flaw a gold backed "crypto" would be beholden to which is that the authority in charge of distributing the coins could literally just lie

>>18440563
nothing, not a single thing, about the internet is decentralized

>>18440583
so dont use a service that lies, how is this different that literally any other service?

>>18439400
All you need to know :
since 2018 market cap
BTC $125 billion DOWN 65% - $232 billion
Gold $10 TRILLION UP 44% + $ 4 trillion

>>18440599
Ever download a torrent moron? That's not coming from a central server. In simple terms the file is being shared by multiple people.

>>18440583
which is why bitcoin is still the best. when you transfer bitcoin there is no underlying asset that can be separated from the security.

>>18440639
its weird how your ISP immediately knows about this decentralized file transfer to your computer

>thread theme

https://www.youtube.com/watch?v=5Bnl_g45SkA

>>18440631
So why would you even want that if they have the ability to lie to you? I still don't understand what a gold backed "crypto" offers in terms of convenience that makes it superior to some service that hands you a credit card that you can spend your stores gold holdings with.

>>18439487
At two points in history the Dow reached parity with the price of gold. The Great Depression and I think during the 70’s. It only holds for a short time, but if we’re having another Great Depression like it looks like then that would be the time they return to 1:1 ratio. Yesterday was the first time I started understanding that gold will actually be above 10k in the next few years

>>18440599
fucking boomers i swear...
not only you still don't know what the word means but you are proud of being blatantly wrong also.

>>18439700
Checkd and
>That's a man

>>18440656
Ok but that's a privacy issue, not decentralization. Your changing the subject. It's still a decentralized file transfer. If one host went down you wouldn't lose access to the file.

>>18440656
not really. read up on mse/pe!

>>18440686
if any central router went down or refused your connection you would lose access to the file

>>18440651
youre describing fiat

>>18440702
What "Central router" are you talking about? You are a dumb ass boomer dude

>>18440722
i knew this board was low IQ and uninformed but i didnt know it was this bad

>>18440739
Clearly not as dumb as the retarded boomer that thinks there's a big Linksys router in the desert that encompasses the entire internet like that episode of South Park

>>18440294
>stuff out of his ass

The fed is injecting liquidity into a contracting economy. There will be inflation. He's right.

>>18440756
this statement is literally correct if you replace linksys with cisco and desert with virginia

>>18440797
Right so hypothetically speaking if someone was seeding a torrent in Bulgaria they would somehow be effected by a Comcast router in Virginia because a bunch of Americans went offline?

>>18439985

>>18440827
if anyone in america wants to access that torrent absolutely

>>18439487

gold sucks because it's hard to verify and break into smaller pieces

bitcoin is king

>>18440685
Not his fucking wife moron that’s Michelle liberman
His wife is Lauren schiff

>>18440633

have fun chopping up your gold and converting it into digital cyber space when you want to buy something online kek

>>18440862
Stay broke retard

>>18440857
Decentralization doesn't mean you necessarily have access, it just means that there are multiple points of failure. It means if America conspires to destroy the torrent they would still need the consent of every other actor on the planet involved with uploading the file. You are an idiot and have no idea what you're talking about

>>18440717
nope, it's much better than fiat because there is no issuing authority you have to trust not to print your shit to oblivion. bitcoin removes trustful and custodial relationships from the equation. it's the future of gold. sadly it's not the future of money. nobody is interested in replacing fiat with anything it's way too useful.

>>18440862
gold is fucking swag money baby

here's a gigantic protip - one that'll probably put a knot in your brain: OWN BOTH

>>18440939
Youre right, because america doesnt have absolute control over every single other country the internet is decentralized. Im glad I get educated here.

>>18440905
what a retard
Gold is the only real money in the entire history 5000 years of civilization
and you post like your a 16 year old incel neet
stay broke faggot

>>18440761

The Fed did the same thing from 2008 to 2014 and there was no significant inflation.

As long as global trade keeps chugging along and 3rd worlders want the dollar, there will be no price inflation in general goods simply because of the way the system is set up.

The US dollar isn't just a monetary unit like any other currency. It's an international system. The last revolt against a reserve currency was WW2, and it was against the British Pound Sterling.

>>18440225
Before EOY no doubt

>>18441000
Intellectual property holders literally can't stop peer to peer filesharing. All they can do is block people in their local jurisdiction from accessing the files but the files are still being hosted under other jurisdictions who largely don't give a shit. All decentralized means is that there are multiple points where it can fail. No one person can decree that all file sharing must cease, it would need the consent of multiple parties. That's all i am saying. You are just too stupid to understand the idea that the word decentralization isn't a synonym for "infallible." Decentralized systems can fail, but in some respects they are preferable to a centralized authority.

>>18441089
Before May

>>18441079
price inflation of consumable goods since 2008 was obscured by advances in efficiency, reduction in quality (eg. a loaf of bread is 8 ounces instead of 12 for the same price) and the fact that a lot of the inflated supply was released in the form of education, vehicle, housing, and business loans.

DJI will become penny stock central. But not the sort of penny stocks you want to own. There might as well not be a DJI.

>>18441099
>it would need the consent of multiple parties.
even that is a stretch. truth is so long net neutrality is a thing no one will be able to even slow down pirating. if net neutrality falls then all sorts of protocol filtering and alternate subscription packaging and pricing schemes can be used to take a toll from people looking to pirate movies.

just imagine: $2 per month internet if you only use http and https and only use facebook google msn and amazon and netflix, $5 per month if you also want blizzard servers and steam and so on to work and $50 per month if you want bittorrent and everything else to work also but your packets outside the priority ports and destinations will lag greatly...

they could win without ever truly stopping anything.

>>18440892
how much gold to achieve this level of smugness

>>18440431
> tfw gold is completely tax free in the UK
Gotta love those gains.

>>18441214
This

>>18439789
Thanks for the laugh. I needed that today.

where can I get it in Europe today? Help anons

>>18443380
its too late for you

>>18441382
100% true. Inflation is officially measured by the price of dumbshit commodities so the kikes can make it look like everything is okay on paper. But the fact is real things needed to advance and stay alive are two to three times more expensive than they were in 2000. The big ones being what you mentioned, plus healthcare. Twenty years ago a six figure salary was the start of making it. Now bringing in 100k makes you a superficially better looking wage slave. Everything is fucked.

>>18439558
There will be both. I really yearn for a future where there's a fully decentralized and gold backed crypto. Something like XMR but somehow you can 'redeem' it for a bar of gold and just get a package sent from you by someone running a node with a bar of gold in it. Alternatively you can run a node for gold storage/sending or purity verification.
If the crypto and PM communities could just ally up we could usher in a new era of global financial liberty.

>>18443695
is it really?

there is only bitcoin

it will hit 1900 by end of year

FACTS

444444 get
bitcoin nothing else fuck metalbugs

>>18444463
digits prove you wrong

>>18444444

>>18440431
>implying I didn't have a boating accident

>>18443315
i'm still waiting for you fags to show a 3y interval where bitcoin was not a store of value.

>>18445287
2017 april 13 the price was $1200
2020 april 13 the price is $6800
looks like a fine store of value to me.
let's see gold!
2017 april 13 $1285
2020 april 13 $1716
weeell not so bad but not so good either but if you look at 2013 to 2016 oh boy...
$1593
$1259
that's pretty shit

I'm starting to realize that Silver is a total meme.

I think elites only buy Gold and don't give 2 fucks about Silver because too many idiots can buy Silver and ruin it for everyone.

>>18440431
>He didn't pay for his PMs with cash through an anonymous settlement
Yu dun goofed friend

>>18439827
>dealer scam
Explain to a noob

>>18440431
literally tax free here in krautland

>>18445402
>muh magical internet money that depends on a whole array of 3rd party infrastructures to be relevant is the one real store of value

>>18440225
This week

>>18445988
Kek, this. Physical gold and silver in your possession is the only truly decentralized wealth with zero counter party risk. Why are linkies too stupid to realize this??

>>18441079
>there was no significant inflation.
There was very significant inflation in equities, bonds, and real estate, far beyond their very long term historical valuations.

>>18446443
This

>>18445988
we will see when gold hits $2000 and bitcoin hits $100k will you cut off your dick and eat it?

>mfw 2000 usd/toz

>>18445402
bitcoin is a speculative investment, money has already been made you are a late adopter. 2017 was the top every normie and their grandmother were involved and got burned. Delusion

>>18446587
I've been hearing about bitcoin hitting 100k for years now. It's still just a meme. If you have eyes on your face, you'll realise 2017 was the top. If it didn't moon then, it won't ever. Waiting for it to moon now is like waiting for D Rose to be the NBA MVP.

>>18447445
>I've been hearing about bitcoin hitting 100k for years now. It's still just a meme.
we know roughly when it will happen. between 2021 and 2023
pretty much inevitable a lot depends on the state and recovery of the overall market

>>18447445
>2017 was the top. If it didn't moon then, it won't ever
lol it did moon at that time it wen't pretty far, but there is no top for bitcoin. every ath will be taken out by a new ath.

anyone here familiar with DOW/Gold ratio? You don't keep your money in Gold forever. Once the ratio hits 5 you have to start seriously thinking about getting out.

The difference now though is what happens to Gold if the dollar just completely crashes? Been trying to rationalize this was myself, and try to be honest with myself if I think that will really happen. The stock market would never be completely destroyed would it to the point it doesn't come back, would it?

>>18447445
D Rose is only in the league because his shoe deal mandates it.
t. alpha brain remember everything