/biz/ - Business & Finance

Greetings fellow bull anon. Shall you buy the ropes or should I?

Imagine buying bitcoin over 4K dollars. LOL

Propped by a fraud.

“Once you have Tethers, you can trade them, keep them, or use them to pay persons that will accept your Tethers. However, Tethers are not money and are not monetary instruments. They are also not stored value or currency. We do not guarantee any right of redemption or exchange of Tethers by us for money.”

https://medium.com/@thecaspiancey/whats-behind-tether-cfde9e2199c8

https://www.bloomberg.com/news/articles/2019-08-07/tether-mafia-318-crypto-addresses-control-most-of-stablecoin

https://www.forbes.com/sites/francescoppola/2019/03/14/tethers-u-s-dollar-peg-is-no-longer-credible/amp/

https://cointelegraph.com/news/the-strange-story-of-tether-the-digital-money-that-claims-it-isnt-money/amp

https://en.m.wikipedia.org/wiki/Tether_(cryptocurrency)

https://static.coindesk.com/wp-content/uploads/2019/11/SSRN-id3480263.pdf

bitcoin is fundamentally flawed, both economically and technically. It won´t work without block rewards as numerous academic papers has PROVEN

>On the Instability of Bitcoin Without the Block Reward
https://www.cs.princeton.edu/~arvindn/publications/mining_CCS.pdf


>Beyond the doomsday
economics of “proof-of work” in cryptocurrencies
Monetary and Economic Department

https://www.bis.org/publ/work765.pdf

"Second, the transaction market cannot generate an adequate level of
“mining” income via fees as users free-ride on the fees of other transactions in a block and in the
subsequent blockchain. Instead, newly minted bitcoins, known as block rewards, have made up the bulk
of mining income to date. Looking ahead, these two limitations imply that liquidity is set to fall dramatically
as these block rewards are phased out. Simple calculations suggest that once block rewards are zero, it
could take months before a Bitcoin payment is final, unless new technologies are deployed to speed up
payment finality. Second-layer solutions such as the Lightning Network might help, but the only
fundamental remedy would be to depart from proof-of-work, which would probably require some form
of social coordination or institutionalisation."

>shitcoin is undervalued because I say so

>>18838211
The piece of shit would be overvalued at 4k

Its literally just a bunch of retards doing speculation chicken with each other. Buttcoins are only for die hard gamblers and retarded future bag holders at this point.

>>18838227
My guess is you as a person have overvalued your intelligence and insight.

>>18837963

BTC is a ponzi scheme. The code is fundamentally flawed. Whales know this, and they will dump when it pumps sufficiently high. Set a stop-limit order on your BTC and get ready to move out as quickly as you can once it stops pumping. Then get into gold and gold stocks.

>>18837963
BTC is a useless turd pumped by idiots. Fuck that nigger Arthur Hayes. Fuck that little chink at Binance and fuck Block Stream.

BTC price too low imo

>>18838262
100k, undeniable

>>18837963
>'Store Of Value'
Nope.
>'Peer-To-Peer currency'
Barely. Unusable when people actually try moving it around at the same time.

Anything over a dollar is over valued. There are much cheaper and much quicker crypto methods to move value around, as needed.

>>18838250

>>18838406
hold up, just sold my shill coins.
i think that fixed the wick.
pamp it

Without block reward the fees will go up, people compete for block space for their transactions.

Where's the flaw ? If there's less miners each miner will make more money.

Not to mention the option to do a 51% vote to create millions more BTC if the community decided its needed.

>>18837963
shit should be at 10$. undervalued lol

>The amount of fud itt

>>18837963

Bitcoin will go to 100k, but first it will go to 1k to get rid of all the dumb money.

>>18839244
this. 20k was the top

My wife doesn't believe in me.

>>18839244
Except the long term trend is clearly up

>>18839258
That photo makes me miss 2017. Kek

>>18838317
They’re are “cheaper and much quicker” shitcoins. But those shitcoins have to sacrifice something else: security, PoW, influence from a third-party, etc... Bitcoin is a layer 1 protocol for moving value, that is it’s only job. No altcoin will ever surpass Bitcoin

You guys know that black stuff that comes from the earth that we pay thousands of dollars to pump and transport?

The stuff that millions people throughout history have died and faught wars over?

That went to -37 Us dollars the other day.

Don't tell me that mining of finite coins that get more rare over time mathmatically aren't worth anythign when we all decide oil is free PLUS 30 dollars.


2020 when boomers tell me bitcoin doesn't work but oil was literally free 2 weeks ago

YAWN

>>18839437
How are people on """biz""" this fucktarded?

If I order 10,000 bricks a day to my construction warehouse, but everyone stops building houses, very soon I'm out of space for bricks. I'm going to have to pay big time to have the incoming bricks hauled away.

It turns out every other builder in the area made the same mistake and all the landfills are full.
So now I have to pay to have the bricks hauled to the ass end of nowhere.

And like oil, you can't just burn dump them outside international waters (bunker fuel).

>>18838047
>Tether
literally who

>>18839869
Because they are all get rich quick coin zoomer faggots. I literally hate this board and I don't know why I'm posting right now.

bitcoin is undervalued, BTC is overvalued.

"Imagine selling BTC at 10k" - ChinkZ

>>18840736
No one cares about forks. If you think any forks are ever surpassing BTC, you don't understand how the world works. Popularity always wins over technical/ideological merit

>>18838187
>Oy vey! Your trustless system will surely fail and then be replaced with an (((institution))) you can trust!
Sure schlomo, I’ll sell my bags right away and get some fiat!

>>18841479
>>18841311

BTC is already compromised by institutions. Blockstream took it over in the early days and shoved out all the real and passionate developers. It's controlled by gatekeepers now, and only moonboy hype is keeping it afloat. The fundamentals of BTC are completely rotten. It can never scale as a medium of transaction; the fees and waiting-times are already bad, they are going to become infinitely worse. If there is going to be a future for crypto, it has to be BCH, which is trying, faithfully, to follow Satoshi's vision. However, when BTC crashes, which it will when the scam is exposed, and the whales and speculators dump it, the whole crypto market will crash too. That's why you have to be in gold.

Bitcoin should be around 50K if it was a free market.

>>18841535
Hmm you might have a point. I do remember 2017 when the institutions decided to increase the block size and the network went along and did it.

>>18839258
who's even watching these videos holy shit

>>18837963
Nice try mumu, now go back to your shitty stables.

>>18841621

Even with the changes, BTC still can't scale with 0.01% of the population. That's how bad the problem is, and the extent of the scam.

>>18841724
Newfag detected.

>>18841724

should I buy bitcoin? I denied to buy bitcoin for 50€ because I thought it is shit, it is over 8000€ now. Kind of stupid move to buy now. But when BTC will go to 100.000 best move in my life. Can not decide. What should I do anons? Shoudl I buy BTC before all the tards watch this youtube videos and btc will be sky rocking?

>>18841724
>>18841724
>>18841724
>>18841724
>>18841724
>there is only 21 mullion buttcoin I and 2999999 go buy bread for 1 buttcoin and THERE IZ NO MORE BUTTCOIN HAHA LOGICALLY FLAWED YOU STOOPID

>>18842287

That's not what I mean by scale. There is a technical limitation in BTC which causes waiting-times and transaction fees to go up exponentially as more people get involved. BTC will be worthless and unusable because of waiting-times and expense if even a fraction of a fraction of the world-population gets involved with it.

Same old tired arguments in this thread as BTC continues to increase in value year over year. We'll be reading the same shit when BTC is $100k, $500k and $1 million. Stay poor losers

>>18837963

I hate bitcoin because my best friend cucked me on it by being right about it and becoming a ten millionaire. I’m pretty sure he’s not truly savvy to linkies though thank G-d. Though if he were he could move his pinky and outstack me there too, so there is no sleep

should I buy and at which platform?

>>18842472
No

>>18842409
>>18842398

Most of BTC's rise in price has taken place over the past few years. Many a bubble in history has lasted twice as long.

>>18842409
your fucking faggot line is going to fail eventually idiot

>>18838247
Kek

>>18841535
dude, such intelligent retort and then you come with BCH... WTF, accept BSV, it is the only protocol that scales. And has Satoshis Vishnu in the name. BCH is a mongrel bastard of bitcoin.

>>18842409
if mtgox dumps 600k coins it's litearlly worht 0$ and your charts are useless.

>>18841879
>>18842156
>>18842287
The irony. You stupid fucks must not have even been here in 2017. BTC is right on the edge of skyrocketing fees. Like right now there are just few enough people who want to use it. I can't believe the stupidity of maxis who say shit like "I never pay over $1, fees are fine" while simultaneously expecting mass adoption.

>>18842835

BSV is run by a lying conman, and has serious flaws. Perhaps it will succeed though, who knows, or perhaps some other crypto will. But as there is no way of knowing which, I'm sticking with gold. Crypto is simply for gambling with small change.

>>18842469
>G-d
Jews truly are subhuman monsters

>>18842942
Morality must win at any cost, fren

>>18842835
>>18842903
Monero is going to be the one when crypto actually becomes a thing. Forget about those bag holders who tell you the network effect comes from their bags. They are lazy morons and no one needs them in their network.

>>18838046
>He fell for the market cycle meme meme

>>18842973
What would you know about morals?

>>18839364
show me a chart that cancels that chart

>>18837963
> true value

Idiot. All crypto unless it’s backed by a decent government has ZERO value.

>>18839437
Oil wasn’t free. That was just some derivative bullshit

>>18843282

I hold 98% gold and 2% crypto, but still disagree with this. Crypto can have intrinsic value. Privacy, inability to be confiscated, lack of fees for transaction, instant transmission, are intrinsically valuable. It is simply that BTC is a ponzi and a scam which has none of these values; and, when it falls, it will take down every other crypto with it--even the good crypto.

>>18839244
it is a classic rebound beyond all previous highs pattern

>>18843320
>intrinsic value
No. ZERO value. Just like fiat money, it requires people to BELIEVE it has value. If nobody is willing to accept your “crypto” it has no value. It’s literally just some 0s and 1s on a hard drive at that point, worth less than even Zimbabwe money paper (at least you can write in that!)

On top of that, most crypto, Bitcoin specifically, requires “miners” that operate expensive machines just so the entire system works. If people stop mining transactions don’t get processed and the entire system comes to a grinding halt.

>>18843282
>All crypto unless it’s backed by a decent government has ZERO value.

Imagine being this guy and being unable to believe in something unless big daddy government tells him its ok

>>18843476
>believe
You can do that all day long. Won’t change reality.

>>18843445

Most of the price of gold derives from its use as money, not in decoration or industry. That additional price is also a consequence of belief. Gold does many things which crypto doesn't and vice versa. Gold is superior to crypto, but crypto does have value.

The miners are what facilitates the intrinsic value of crypto. They are what allows decentralized transactions to take place.

If people stopped guarding vaults and lorries, gold would also grind to a halt, because most gold is held in storage for protection against burglary.

>On the Instability of Bitcoin Without the Block Reward
https://www.cs.princeton.edu/~arvindn/publications/mining_CCS.pdf
Princeton university

>Beyond the doomsday
economics of “proof-of work” in cryptocurrencies
Monetary and Economic Department

https://www.bis.org/publ/work765.pdf

"Second, the transaction market cannot generate an adequate level of
“mining” income via fees as users free-ride on the fees of other transactions in a block and in the
subsequent blockchain. Instead, newly minted bitcoins, known as block rewards, have made up the bulk
of mining income to date. Looking ahead, these two limitations imply that liquidity is set to fall dramatically
as these block rewards are phased out. Simple calculations suggest that once block rewards are zero, it
could take months before a Bitcoin payment is final, unless new technologies are deployed to speed up
payment finality. Second-layer solutions such as the Lightning Network might help, but the only
fundamental remedy would be to depart from proof-of-work, which would probably require some form
of social coordination or institutionalisation."

>Written by phd´s in computer science and economics. Bitcoiners can’t refute this fud, lol. These academic papers prove that proof of work will not work longterm.
Another weakness is the lack of on chain governance, which results in huge governance and coordination problems, and limits innovation.

>>18837963
I believe no one here cares the fuck out about anything more than making money of this meme.
WHY AREZ WE GOING DOWNZ NOWZ? FUCKS ZAKESSSSS

>>18843065
Seething

>>18837963
>commodity executive from Bloomberg
>understanding smartcontracts
Bitcoin is a primative and obsolete cryptocoin and the only reason it holds any value at all is due to resdiual hype over the 20k bubble.

>>18843818
DR;NS

>Never going to actually make large-scale improvements due to Blockstream and miners
>Never going to move out of being a 'store of value'
>Never going to actually become a usable everyday currency, which means it will never actually be anything but speculative trash

If it never has any hope of becoming used as an actual currency it's trash

>>18843912
>the goyim must serve us
Yes great morals Chaim. Give Palestine its land back

>>18837963
Too expensive, not going to buy.