/biz/ - Business & Finance

above 10k tonight
suck my dick and screen cap it

>>18931763
you forgot to price in the halving

>>18931763
we don’t use meme lines here

>>18931763
imagine betting against reduced supply when usd supply is inflating

It's alway the same here

Btc 3k "it's over"
Btc 9k "to the moon 50k eoy"

ridiculous

>>18931828
You don't get it, do you, retard?
Sure, it might go to 10.5K, but that's where it ends.
There is only a small bit of room left for upside. The multi-year resistance is still intact.

>>18931896

Limited supply doesn't matter when your coin is a centralized scam controlled by Blockstream and has no use-case. Get ready for a repeat of the 2017 crash.

>>18931922
You cant draw memelines at the tip of the wicks, lmao.

>>18931922
Lmao you are a fucking moron, dont breed

>>18931943
When will you bainlets realize that use case doesn't matter? Do you think the price of gold is just its instrinsic value? Lmao. Go home Craig, I'm not buying your scam coin.

>>18931921

BTC is pretty much a consistent pump-and-dump between $3000 and $10,000. Once it gets low enough, the Youtube moonboys, with the promise of fantastic riches, can scam just enough people in to push the price up. Then the whales, who know the whole thing is a con, offload everything they have. Rinse and repeat. I feel really sorry for the poor normies who are buying at the top right now.

>>18932030
>the lines are just MEMES
>YOU CANT DRAW IT THAT WAY

>>18932075

>When will you bainlets realize that use case doesn't matter?
>Do you think the price of gold is just its instrinsic value?

Do you realize that your two statements just contradicted themselves? Gold is a store of value precisely because it does have intrinsic worth. It is possible for good crypto (like XMR or BCH) to have intrinsic worth, because it does certain things that gold doesn't do, but BTC does absolutely nothing. It can't be used as a medium of exchange without resorting to third-party and second-layer clunkware, and even with the LN it can only service 0.01% of the world population. It is impossible for it to reach mass adoption, and even partial adoption means losing all privacy and autonomy over your money. In other words, BTC is no better than a bank account.

the absolute state of biz

>>18931922
um excuse me faggot you need to redraw that meme line so it cuts through the wicks with respect to the close price

>>18932174
its not worth explaining to maxis who believe in bitcoin still

the only thing remotely special about bitcoin is the technology it introduced to the world underlying it

>>18932322
The normies are trickling back

>>18932322
>>18932381
In crypto, the most accurate meme lines actually go through a combination of wicks and candle bodies. Only newfags think otherwise

>>18931763
after 2017 BTC became a perpetual purgatory between $3k and $10k we will never ever again rise above or go below those two numbers. Screencap this forever. We have this market to the crabs and you were naive if you didn't see it 3 years ago

>>18932649
>In crypto, the most accurate meme lines actually go through a combination of wicks and candle bodies.
>Only newfags think otherwise
Is that why you posted a chart with the line at the top of the wick? Ok retard

>>18932747
I agree, there's no reason for any meaningful change between those limits

>>18932747
Wrong. The halving changes everything. We may never see BTC sub 9k again

>>18931887
For your reaccumulation zone we are currently in negative % LOL

>>18932747
I always laugh when people say things like "2017 was the height of crypto."
2017 was just the beginning. The next bull market will make 2017 seem like nothing.

>>18932928

It will dump. It always does. You can't sustain a $10,000 price-tag on speculation alone. People will see the $100 transaction-fees and 3-day waiting-times, and, just as in 2017, the price will crash through the floor. And nobody will ever listen to the moonboys again.

>>18933015
BTC's price is not based on speculation alone. It costs money to mine BTC, and the price reflects that.
It currently costs around $6k to mine 1 BTC. You can argue that anything over that price is speculation, but $6k is the baseline.
After the halving that number jumps to $12k. Hype might drive the price higher, or it might dip lower at times, but $12k will be the new baseline.

>>18932928
>He thinks he's seen the last of the vegeta memes

>>18933510
how do people not get this?

>>18933510

>BTC's price is not based on speculation alone. It costs money to mine BTC, and the price reflects that.

The fact that something requires effort to make isn't a use-case. That's the Marxist labour theory of value, that simply putting work into something gives it worth. By contrast, BCH coins both require effort to create, and have enormous intrinsic value. BTC coins have none. In fact that have less than intrinsic value: they have a negative value, because, when you buy BTC, you support an evil system of banks and financial institutions controlling you.

>>18933510
>>18933831

>BTC's price is not based on speculation alone. It costs money to mine BTC, and the price reflects that.

The fact that something requires effort to make isn't a use-case. That's the Marxist labour theory of value, that simply putting work into something gives it worth. By contrast, BCH coins both require effort to create, and have enormous intrinsic value. BTC coins have none. In fact, they have less than intrinsic value: they have a negative value, because, when you support BTC, you support an evil system whereby banks and financial institutions will track and control humanity.

>>18931763

>>18933968
Oh now I get it, you're a BCH supporter.
I'm not a BTC maximalist by any means, so go ahead and talk shit. I'm well aware of BTC's limitations, and would love to see it dethroned.
All I'm saying is that crypto as a whole is going to have a massive bull run sooner than later.

>>18934129

I'm 99% in precious metals. I have a small amount of money in BCH and XMR because those are the two coins I know which provide an actual use-case, and hence have a chance of becoming the new system of money. But all crypto is a gamble, and nobody should put more than a small amount of his net worth into it.

>>18933978

>>18934191
Honest question here - Won't BCH have the same issues that BTC has if the network becomes congested? By that I mean high fees and slow confirmation times.
I don't know all that much about BCH so please enlighten me. I thought it was literally just a fork of BTC

good thing i bought in 2014

>>18934248

>Honest question here - Won't BCH have the same issues that BTC has if the network becomes congested? By that I mean high fees and slow confirmation times.

No--as it stands, BCH could service millions of people with virtually no fees. This is because it did something called increasing the memory of the block size. The banks and financial institutions which took over BTC in the early days didn't want to do this, because there would have been less money to be made in fees. If you want to learn about the inherent problems of BTC and what BCH has solved, start with Mike Hearn's 2016 post here:

https://blog.plan99.net/the-resolution-of-the-bitcoin-experiment-dabb30201f7

"Bitcoin XT," which he calls about in that article, is essentially BCH.

Hearn and Gavin Andresen were the closest people to Satoshi Nakamoto, as well as the leading Bitcoin devs, and they both left BTC for ethical reasons because they knew it was a scam. Both are sympathetic to BCH. Andresen has directly endorsed it, and the most passionate part of the original Bitcoin community is behind it.

You can learn more here:

https://medium.com/scalar-capital/the-bitcoin-cash-story-e55b277491f9

https://medium.com/@johnblocke/a-brief-and-incomplete-history-of-censorship-in-r-bitcoin-c85a290fe43

https://medium.com/@jonaldfyookball/12-reasons-bitcoin-cash-is-the-real-bitcoin-8d5547988374

https://medium.com/@johnblocke/a-brief-and-incomplete-history-of-censorship-in-r-bitcoin-c85a290fe43

I don't post on Reddit, but the subreddit is worth browsing:

www.reddit.com/r/btc

>>18934248

>Honest question here - Won't BCH have the same issues that BTC has if the network becomes congested? By that I mean high fees and slow confirmation times.

No--as it stands, BCH could service millions of people with virtually no fees. This is because it did something called increasing the memory of the block size. The banks and financial institutions which took over BTC in the early days didn't want to do this, because there would have been less money to be made in fees. If you want to learn about the inherent problems of BTC and what BCH has solved, start with Mike Hearn's 2016 post here:

https://blog.plan99.net/the-resolution-of-the-bitcoin-experiment-dabb30201f7

"Bitcoin XT," which he talks about in the article, is essentially BCH.

Besides Hearn, Gavin Andresen was the closest person to Satoshi Nakamoto, as well another leading leading Bitcoin dev, and he also left BTC for ethical reasons because he knew it was a scam. Andresen has directly endorsed BCH, and the most passionate part of the original Bitcoin community is behind it.

You can learn more here:

https://medium.com/scalar-capital/the-bitcoin-cash-story-e55b277491f9

https://medium.com/@johnblocke/a-brief-and-incomplete-history-of-censorship-in-r-bitcoin-c85a290fe43

https://medium.com/@jonaldfyookball/12-reasons-bitcoin-cash-is-the-real-bitcoin-8d5547988374

https://medium.com/@johnblocke/a-brief-and-incomplete-history-of-censorship-in-r-bitcoin-c85a290fe43

I don't post on Reddit, but the subreddit is worth browsing:

www.reddit.com/r/btc

As far as BCH-users are concerned, BCH is the real Bitcoin and BTC is an aberration, because BCH follows the plan in Satoshi's white-paper of a decentralized peer-to-peer cash-system. Satoshi himself endorsed increasing the memory size on Bitcointalk, so they are simply following his original plan. Indeed, Satoshi himself hard-forked Bitcoin in the early days to fix a critical bug.

>>18931922
Why would you use the wicks for resistance but candles for support? If you draw resistance through the candles then we broke multi year resistance

>>18931922
You also need 3 points of contact for your meme line you colossal flaming faggot

>>18933968
How much is BCH in USD. How much is BTC in USD. Fuckin cope

>>18934835

Prepare for the 3700% increase for BCH and the 97% decrease for BTC when the prices swap.

>>18931896
“Scam” rofl

>>18934956
When do you expect this anon?

>>18931922
just keep redrawing those lines bobo

>>18934979

There's no way of knowing for certain. It might be this year, might be next year, might be in five years. I simply think that it's more likely to happen than that BTC will succeed. But nobody really knows what is going to happen, or which coin will ultimately succeed, which is why a rational person puts most of his inflation-hedge into precious metals.

>>18931922
You are one dumb nigger bobo

>>18932174
What btc “does” is have first mover advantage and “brand name recognition” with normie peasents... corporations pay billions of dollars to advertise their way into the peasants’ collective subconscious for a reason... that’s literally all that matters. Doesn’t need to scale. Doesn’t need to be anonymous or private. Why would u use a finite store-of-value assent for everyday transactions? That role will be filled by United States digital dollar... look at bsv and bch charts... no one’s buying the recovery because they’re useless coins... I think you may have outsmarted yourself on this one... does btc have shitty programming compared to other coins? Fuck yea it does... but it doesn’t matter... I guess bch could survive alongside btc but it it’s not going to be spent when it’s finite and u could otherwise be spending inflationary assets like a digital dollar... plus it’s too cheap to transact and will encourage too much buying/selling and thus be more unstable... large amounts of physical gold is hard af to transport from seller/buyer but that doesn’t stop it from having value lol.. xmr is a god damn pedo coin that degenerates own don’t even get me started there...

>>18935276

You have to consider why people are buying BTC in the first place. Youtube moonboys sell victims a promise that mass adoption will push the price up 30-fold. This is why everyone buys a little piece of it, because they think it might be the new system of money, and make them a millionaire some day. But if it is literally impossible for BTC to reach mass adoption, then, once people learn that fact--and they _will_ learn it--the price _must_ crash. You can't get a 30-fold increase from mere speculation and mass-media interest; you can only get that from a genuine use-case. All that speculation achieves is a regular limbo of pumping and dumping, which is all we have had for the past three years.

>>18934587
except at the current time it doesnt matter at all. when have you ever seen a divergence of momentum between bch and btc? there isnt a point to speculate

>>18934232
I dont use meme lines but nice try

>>18932747
>>Got you capped bro
The US just needs a war with Iran. Evey time Trump gets pissed at Iran, BTC jumps.

>>18932082
anon...this is why you are still poor.

>>18932174
Stupid fucking memes peppered throughout that paragraph, but all that needs to be pointed out is that anyone who mentions "intrinsic value" theory instantly discredits themselves as being a brainlet.

>>18932473
In ten years time you will still be recycling your dumb and dead narratives to yourself, but BCH will be 10x more irrelevant than it is now.

>>18935700

You clearly didn't understand a word of it.

OP I think you are overestimating the importance of the tech and underestimating the importance of hype and psychology in terms of effects on the price. I made the same mistake holding ETH instead of BTC and saw my sats bleed.

>>18936081
I agree with this. Here’s my perspective- but first a disclaimer. I don’t really know shit about programming or the technology behind blockchain/crypto... what I do understand is the occult and how it’s used to control peasants and subsequently create our outward reality. So my archenemy rests on two main points. The first is that we as a species create our reality with our collective subconscious. Why do u think elites put a pyramid/eye and “novos ordo seclorum” (new world order) on the back of the one dollar bill? To tell the peasants subconsciously that “ we are your money supply. We are your masters. You are ours.” They put their symbols fucking everywhere to be taken in subconsciously since every image has a vibrational frequency. It keeps them in power since humans subconsciously and unconsciously know they’re in control. Bitcoin is so dominant in the collective subconscious that I don’t think it can be overthrown at this point. We are literally creating a reality where bitcoin is a new store of value unconsciously. Remember- the universe is infinite... and there are infinite realities, including ones where bitcoins price is already 0, and ones where it is already 1000000. Peasants aren’t smart enough to understand the tech. And even tho bsv and bch are far superior, they sadly will only be seen as cheap knockoffs of btc by unwashed masses. My second point is that astrologically, (unironicaly lol) bitcoin is exiting a very negative Saturn (limitations/acknowledging realities) dominant 2 year period, and entering a very positive 2ish year period which culminates in the same Neptune-Jupiter conjunction which occurred both during bitcoins “birth” (09ish?) and during the four month period at the end of 2017 (during 20k run). Tl;dr golden bull run is upon us go long

>>18934587
This is a retarded response. Yes they increased the block size a little bit, but even doubling the TPS of BTC still isn't good enough for world wide commerce that the internet enables. BCH is still limited by technical limitations in much the same way that BTC is - increasing the block size increases the orphan/stale rate in a linear fashion. And a high orphan rate leads to reorgs and destroys the network, so unless you invent a new protocol for block and transaction propagation you will never be able to make a real payments system.

>>18933968
Miners aren’t going to risk mining a fake chain when they don’t know if it will be supported. This is one of the reasons why bitcoin hasn’t died. Game theory. It’s much risk and by to much I mean you lose everything.

>>18934587
Mike Hearn and Gavin didn’t see bitcoin evolving into quasi gold 2.0. High powered money that is socially scalable. It’s crazy to me how people who are first their ego gets in the way. They believe they know better and want to take control.

>>18931922
Fucking shit drawing mate

>>18936993

BCH can already handle 8.3 million transactions per day. BTC limit is 0.25 million transactions per day.

>>18937113

Gold is intrinsically valuable. BTC isn't. The original promise of Bitcoin--decentralized peer-to-peer cash with minimal fees which cannot be confiscated from you--that had intrinsic value. That's BCH. BTC can't be a store of value, because it has no value to store.

>>18938055
>Gold is intrinsically valuable. BTC isn't.
most retarded shit i ever read

>>18938055
>BCH can already handle 8.3 million transactions per day.
So? On average Visa and Mastercard process 5k TPS or 432 million per day. During peak times (holiday shopping) it can burst to double that. And that's only the two leading ones - there are like 4 others. Your crypto will have to do 10x it's current capacity to gain mass adoption. Basically, it doesn't solve the problem.

>>18938055
>Gold is intrinsically valuable
Explain why shiny rocks some retard dug up with a spade is more "intrinsically valuable" that a digital token some retard mined with computers & electricity.

Bitcoin hits at least 100k this year and no amount of FUD from the shills can stop it. What a great timeline we are in.

>>18939255
Mathematically impossible

>>18939173
Honestly the gold thing vexes me to. I have a feeling (((they))) know somthing about it that we don’t, and consequently they hoard it all. Most origin stories of human cultures describe an extraterrestrial race creating humans to mine gold for them. Perhaps it’s some sort of intergalactic space currency used by other races ? It is THE most conductive element after all.. and I believe is used in some supercomputing applications

>>18939173

Gold: Dentistry. Medicine. Electronics. Computers. Medals. Statues. Jewellery. 5000-year-old world-wide accepted store of value.

BTC: Not only intrinsically worthless, but actually a tool to enslave humanity if it ever gets popular.

>>18931763
You could draw a hundred of those retarded triangles at earlier points, meaningless shit.
Crypto will always be speculative garbage. If you happen to make money it's because some other retard is losing money.

>>18938490

The BCH roadmap has an adaptive block-size limit. It aims for fifty transactions per day for ten billion people

https://www.bitcoincash.org/roadmap.html

If the BCH network processed the same number of transactions that the BTC one does right now, each one would still cost less than a cent.

>>18934587
nigger did you really just post a link to reddit? fuck off my forum, roger.

>>18939689
None of those roadmap items will actually allow a single blockchain the capacity to process terabyte sized-blocks in under a minute (which is necessary to keep the orphan rate down). In fact I can't even imagine a scenario in which that is possible with current technology. You can sit on your ass and hope that in the future computers get so fast that that's possible, but that is just cope for retards that can't build scalable systems.

>>18931763
Thing is -- all you fucking idiots basing all "predictions" on some silly lines are BTFO because the world is different, now.

>>18931887
Based

>>18931922
keep on drawing retarded triangles while I hodl

OP is probably the retard who has been saying this >>18940196 all week and now that he was proven wrong he's autistically lashing out with this thread. You're the retard in this scenario OP, not everyone else.

>>18934956
absolute retardation

>>18932747

lol. Long-term Bitcoin will either go to 0 or 1 million, there are no other options.

>>18934587
HASHING POWER MAKES THESE NETWORKS MORE SECURE. SECURITY IS WHAT MAKES THESE NETWORKS VALUABLE.

>muh intrinsic value
>muh big blocks
>muh fast transactions

BCH
HAS
NO
HASHING
POWER

STAY DELUDED

>>18931763
TA doesn't work.

>>18933015
>You can't sustain a $10,000 price-tag on speculation alone.
That's where you wrong kiddo.

>>18941924
doesn't work for what? you do realize that TA is simply observing market behavior?

>>18939361
Why are you like this. You are aware that Rodger Ver and CSW are complete frauds, right?

>>18941968
Be honest, 90% of the time your meme lines are wrong. It's a small miracle these descending triangles work like they are supposed to.

>>18931922
So BTC is worthless confirmed?

>>18931763

If it goes to 6k or 3k I'll be DCA'ing the whole way
If it moons I'm already in the 2.1 BTC club

I literally can't lose

>>18931763
oh this thread again

>>18931943
same fud again not working today sorry bobo

>nearly 100 replies
>ctrl+f "halving"
>only 4 results

Shame on you peanut brain niggas.

>>18944303
>I literally can't lose
Except you could have been in the 7 BTC club if you sold now and went all in at $3K, and that's not even including the additional funds that you were going to DCA in. Don't be a retarded hodler.

People are buy at 9k... to make their 10k profitable... in a desperate attempt to get momentum to get it to 19k to only break even

Will it dump soon, brahs? Brainlet needs some spoony spoon pls.

>>18944498
>green ID

That means it go up

>>18944537
Even at fucking 10k I should be buying? I've done some serious hustling since the pandemic started but now that I actually have money I'm still a late piece of shit. Fuck

I'm only buying if it hits 20k. Fuck playing with dead money.

>>18931763

>>18944693
We have to hit 3294.

>>18944745
Yeah, basically. Interesting that we called the same top, too.

>>18931763
So many people believe the halving meme that it has me worried for the future of BTC. It's too ubiquitous to normies like LINK is now vs 2 years ago.

>>18944806
Where did you get that chart btw? Did you make it? Where does that predicted nadir correspond to time-wise?

>>18932174
Gold has a massive market relative to its industrial and ornamental use, it's called the monetary premium. 90% of gold sits in central bank vaults and there will never be enough "intrinsic" use cases for it.

>>18935276
Btc doesn't have shitty programming. Its the most widely tested and carefully engineered code in the whole crypto market. It is actually difficult to get code merged because the standards are ridiculously high which is exactly what you want for money. Most other projects literally have like 3 devs that just update the protocol and nobody cares. It should be really fucking hard to change software driving money

>>18938055
Then why is 1 btc the price of 5 ounces of gold?

>>18945250
I'm smelling mozzarella in this post.

>>18945109
I modeled this myself. The additional painted-on lines are what actually happened, I just updated the chart from pic related. Made the prediction last year.

>>18931763
u took this screenshot when it was 8888, it is literally higher by 1000$ now. lmao

BTC is going to drop like bricks when market goes for another leg down. That's not to say it won't go to a mil one day but now's not the time to buy. Nobody gives a shit about BTC in a recession. You can't eat it, and it's not mainstream enough to act as a hedge against the dollar. You have to wait for corona to kill some more boomers off and for zoomers to grow up a few years and start getting income. You've been warned.