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/biz/ - Business & Finance

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18928234 No.18928234 [Reply] [Original]

>>18927692

Do you realize how ridiculous it is to get excited about BTC going up? Even Boeing is up 5% today. BTC only moves with the stock market. The 60% March crash shows that it isn't a hedge against economic disaster. You're picking up scraps from the stock market while believing that you're engaging in, or profiting from, something revolutionary.

Perhaps you'll retort that you're hodling. But the fundamentals of BTC are horrible, so that it has no long-term future either. We saw what happened when it went to $20,000 before: $100-fees. Three-day waiting times. The code is irrevocably neutered by Blockstream. You can only solve the problem to a minuscule extent with third-party and second-layer solutions which wipe out privacy, and enslave you to banks and financial institutions. BTC has absolutely no use-case, and is propped up merely by speculation. Mean-while, everyone who bought over $10,000 is still holding the bag three years later.

If there is a future for crypto, it's probably going to be BCH or XMR. What we can say with certainty is that it won't be BTC. Ride the pump up if you're already holding, set a stop-limit, and then, when it begins to fall, cash out while you still can.

>> No.18928282

>>18928234
dr;ns

>> No.18928298

>>18928234
>words words words words words
>be sad you piece of shit stop having hope
>buy BCH lmao

>> No.18928352

These two papers have already exposed Bitcoin for the shit it is, but bitcoiners refuse to read it. Either they don´t understand it because of their low IQ, or they willingly ignore it because they know that bitcoin is shit.

>On the Instability of Bitcoin Without the Block Reward
https://www.cs.princeton.edu/~arvindn/publications/mining_CCS.pdf
The most in-depth paper written on bitcoin EVER
Princeton university

>Beyond the doomsday
economics of “proof-of work” in cryptocurrencies
Monetary and Economic Department
https://www.bis.org/publ/work765.pdf

This should be mandatory reading for bitcoiners. But buttcoiners don´t even know what they invest in, really tells you all you need to know.

>> No.18928370

>>18928282
>>18928298
Absolute maxi cope

>> No.18928379

So what you are saying is that you didn't buy at 4k and now you are salty?

>> No.18928390

>>18928234
Do you realize how ridiculous it is to get excited about altcoins going up?
Altcoins only moves with bitcoin

>> No.18928423

>>18928370
I'm not even maxi but seeing people scream how "bitcoin is dead!" kind of makes it look more attractive

>> No.18928433

>>18928390
not always, sometimes they dump when btc pump and other times they pump when btc is crabbing or dumping

>> No.18928439

>>18928379
I didn´t buy and I´m not even salty about it. I don´t like to support a overvalued dogshit blockchain. I will not give bitcoin even one transaction.

>> No.18928454

>>18928352
> Arvind Narayanan
Poo in the loo
> (((Bank for International Settlements)))

>> No.18928478

>>18928423
Technology wise, bitcoin is dead. It will be replaced by eth as n1 in the next bull, then it has nothing more than any other alt. It will be one of the slowest alts lol

>> No.18928530

>>18928234
true desu, after the 60% cut in ONE day. No rich institutional investor will buy btc. You wake up one day and you are down 60%, only gamblers will hold this shit.

>> No.18928548

>>18928478
I already know this but at this point it's a question of what will people do in the immediate short term

>> No.18929750 [DELETED] 

>>18928379

If you bought any stock at the bottom you're up just as much as you are with BTC. Gold stocks are up a lot more (GDXJ is up 90%). Difference is that, if there's a stock market crash, both stocks and BTC will plunge; but BTC might plunge at any time simply of its own accord.

By the way, as I type right now, even silver is outperforming BTC.

>> No.18929782 [DELETED] 

>>18928390

If you're sensible, you put 99% of your hedge against inflation in precious metals and mining stocks. The other 1% goes on alt-coins which you actually think have a future and which you will hodl for five or ten years.

>> No.18930358
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18930358

>>18928379

If you bought any stock at the bottom you're up just as much as you are with BTC. Indeed, gold stocks are up a lot more (GDXJ is up 90%). Difference is that, if there's a stock market crash, both stocks and BTC will plunge; but BTC might plunge at any time simply of its own accord.

By the way, as I type right now, even silver is outperforming BTC. Yes, silver.

>>18928390

If you're sensible, you put 99% of your hedge against inflation in precious metals and mining stocks. The other 1% goes on alt-coins which you actually think have a future and which you will hodl for five or ten years. Anything else is simply gambling.

>> No.18930884

>>18928234
Putting aside that this is really just a shill post for BCH (lol) and XMR, BTC crashed in March because Bitfinex went haywire. People commonly mistake the stock market for being the cause. Obviously sentiment being negative and people selling off their assets in general didn't help, but it was actually Bitfinex that caused it.

>> No.18930916

>>18930884
BitMEX*

>> No.18931064
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18931064

>>18928234
I think you mean cruzbit is the future of crypto.

>> No.18931171

>>18928234
i can buy drugs with bitcoin, so it does have a use-case. besides that i agree, the price is inflated and appears to be largely correlated with stock market trends, indicating it has been coopted by wall street.