/biz/ - Business & Finance

Who is this?

>>21663941
peter schiff

He's mad because it's sucking up money from his boomer rocks. If crypto didn't exist gold would prob be 10k an ounce rn

>>21664055
This
Gold bugs gonna bug

>>21663923
dis fagt caused da gfc nigga

>>21663923
The guy is all in on gold
It’s part of his “brand”
Bitcoin is a threat to his income
If he doesn’t embrace it eventually, he will go broke, so whatever, jokes on him

>>21663923
das racist

>>21663923

Schiff understands that the only use-case of Bitcoin is to serve as an alternative to gold. People speculate on Bitcoin because they have the delusional hope that it will become the new system of money, and go 100x. But either Bitcoin or gold is going to win; you can't have both. And if it is gold which becomes the new system of money after the reset, and it obviously will, which is why central banks are hoarding it, then nobody will be stupid enough to trade their gold for Bitcoin. Schiff doesn't want people to lose everything when the reset takes place. He is especially insistent because the Bitcoin bubble has already burst, so it isn't even intelligent to speculate on it any more; when you have junior mining stocks, for example, or even pump-and-dump fads like Link, if you do still want to mess about with crypto. BTC is a range-bound dead end at this point. Only Twitter moonboys and ignorant boomers are keeping it alive.

Bitcoin is only here as we transition from the old system of money into the new. People buy it as a hedge against inflation. Once fiat is gone, Bitcoin serves no purpose.

Schiff could make a far better case against Bitcoin if he knew more about it. I doubt he's aware quite how useless it is. Even if the LN, which is perpetually "two years away" was widely implemented, BTC would only be usable by 0.1% of the world's population. BTC requires second-layer solutions which track and trace everything you do. Hence it doesn't even serve the purpose of privacy. This is why Mike Hearn left the project in disgust.

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

BTC looks even worse when you consider the fact that Satoshi is almost certainly Adam Back, the head of Blockstream. It would make perfect sense to me that crypto was designed as a scam from the beginning; as another way, besides the COMEX, to suppress the price of gold, by deluding people away from real money.

https://www.youtube.com/watch?v=XfcvX0P1b5g

>>21664055

BTC market-cap is minuscule. 160 billion. That of gold is ten trillion. Nobody even cares about Bitcoin. It's niche. And BTC is 5x larger than Ethereum, the second-largest crypto; to say nothing of the other thousands of cryptos, which will die just as quickly as they were born.

He is the ultimate boomer maximalist.
He talks alot of sense about 95% of things, but he is is just anti btc because he is pro gold.

>>21663923
>boomer yelling at the sky

Gee, I dunno, anon.

>>21664558
>sending value around the world in a couple hours is worthless

Ok, boomer

>>21664588
>BTC market-cap is minuscule. 160 billion. That of gold is ten trillion. Nobody even cares about Bitcoin. It's niche. And BTC is 5x larger than Ethereum, the second-largest crypto; to say nothing of the other thousands of cryptos, which will die just as quickly as they were born.

this anon understands. Like, when i meet with my advisors at goldman, we talk btc and they straight say 2 things. first they don't have a mechanism to buy sell(which is a non answer, they could make a relationship to do it very easily). Second is that the market is to small, there is no enough liquidity, its to prone to being manipulated, blah blah blah. All that stuff has something that is real truth in it. They also say they believe if it gets to big it will get regulated, ie banks just won't transact with cryto exchanges. we will see i guess.

>>21664558
>Satoshi is almost certainly Adam Back
HAHAHAHAHHAAHAHAHAHHAHAHHAHAHAHAHAHAAHHAHAHAHAHAHAHAAHHAAHHAHAHAHAAHHA

>>21664701

Read Mike Hearn's post. You can't use BTC as a currency. When it got to $15,000, you had $100-fees and 3-day waiting times. That's why Roger Ver sold all his coins and became an advocate for BCH. Why is it always boomers who are so quick to accuse others of being boomers? Who but a boomer would buy BTC at this point? It's a joke even within the crypto community.

>>21664558
You know what defines every evolutionary step in the history of money? Each new form of money was more practical than the one before. Bitcoin is far more practical than gold. Deal.

>>21663923
He's trying to FUD and buy low.

>>21664558
>People speculate on Bitcoin because they have the delusional hope that it will become the new system of money

the same can be said about the gold standard retards

for me, its cowrie shells, cant print it and its biodegradeable, the ultimate deflationary reserve currency, cowrie shells have been reserve currency for 300 years, thats longer than the dollar, get smart and shell up boi

>>21663923
He’s a Jew so he’s going to shill against anything that puts his kike banker friends in jeopardy.

>>21664818

>Bitcoin is far more practical than gold.

No, it's not. It's an unusable joke. Again, read Mike Hearn's post. All the information you could possibly need is right here if you will take ten minutes to learn. Crypto itself is bad money, because if you get dementia, memory-loss, if there is theft, a hack, a natural disaster, if somebody tortures you for your keys, etc., you can get wiped out in an instant. But BTC in particular is terrible. At least somebody could make an intelligent argument for BCH or Monero.

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

You can use a gold-backed credit card right this instant to buy a cup of coffee with gold. Look into GoldMoney, which used to be called BitGold. Gold can be digitized, and broken into just as small fragments as a Bitcoin into satoshis.

https://www.youtube.com/watch?v=BjqzyqRz_Mc

The only reason why GoldMoney, which used to be called BitGold, has not been successful, is government hamstringing and regulation. Andrew Maguire is trying to do something similar to GoldMoney with his Kinesis Project. At any rate, once we return to a gold standard, currencies themselves will be backed by (i. e. convertible into) gold, and banking systems will continue to function just as they do today.

>>21664558
>Bitcoin is only here as we transition from the old system of money into the new. People buy it as a hedge against inflation. Once fiat is gone, Bitcoin serves no purpose.

You're absolutely a dumb nigger you know that right? Crypto will be THE currency of the future. Gold and silver however is the hedge and will ONLY become the way of future payments if shit hits the fan and we somehow go and live in an post apocalyptic society, but guess whatfaggot if thats the case youre a whole lot richer with a can of beans a pack of cigarettes and a roll of toilet paper than you are with 10kg gold

He may be too early, but he's always right.

>>21664934
Lmao is that you Peter? Bitcoin will eventually scale and become the one true currency. Deal with it. Every year brings more adoption and advancements. We now have BTC satellites and soon free global internet. It's all happening with or without you. If you don't want to be traced then use Montero. As if an open ledger is any worse in terms of privacy than using credit cards and bank accounts. What a weak fucking argument.

>>21664701
>in a couple hours
Why not 0.1s?

>>21664714
You realize it's the best time to get in right? Do you really want to buy when it's 500k and trillions in marketcap?

It's "niche" until it isn't.

>>21664943
>>21665169
>>21664701

Notice the level of substance and intelligence in these replies. This is usually what you get when you try to argue with Bitcoin fanatics. I'm only trying to appeal to intelligent by-standers here; I know I'll never convince moonboys, and I don't even want to do so.

>>21663923
But that's about the only thing he's right on. Rest of the time he's just complaining US is in a bubble and will crash, so everyone should buy gold. That's been his schiff for the last decade.

>>21665375
goldbugs must felt lonely

>>21664588
>>21664714
Massive buy signal

>>21664558
Could not have said it any better sir.

>>21664714
>you can now store crypto at banks because banks just do what the customers demand of them

>>21664934
paxg already exists....

>>21664558
you had 3 years to buy LINK faggot

>>21665169
>Montero

>>21663923

>>21665662

No thank you. Discovery Metals made me more money in three months than Link would have made you in three years, and the miner bull market is only just getting started.

>>21664934
>Crypto itself is bad money, because blablabla

nobody who held his btc in his own wallet has been cyprus'ed
meanwhile digits in bankaccounts can get frozen with ridiculous ease if you run aground the government
if you lose your coins due to your own stupidity, get less stupid

btw btc was at about 25$ a coin when cyprus happened, i rest my argument

>>21663923
if you want useful boomer advise look at ray dalio, if you want to be scared watch schiff

>>21663923
He’s just an Austrian School retard. No economists take that school seriously.

>>21663923
Because he has a blatant conflict of interest, considering he's a fucking gold dealer. Of course he wants you to buy the thing that he profits off of rather than the thing he doesn't profit off of.

Funny thing though is that the rhetoric he uses against bitcoin is the EXACT SAME RHETORIC bitcoin maximalists use against everything else. And for the same reason; because they make money off bitcoin and only bitcoin and don't want anything else infringing on "their turf"

>>21663923
>>21664558
>>21664934

Good luck carrying your jewbag of gold across borders.

Also, asteroid mining is coming sooner or later. There's literally an infinite amount of gold in the universe and people will find a way to mine it at a profit. Might take 10 years or a 100, but it will happen. Whatever takes over as future currency has to be future proof. Bitcoin has a fixed supply.

But I guess oldfags like Peter Schiff are gonna die off in like 20 years so they don't care about that.

>>21663941
you have to go back

>>21664558
>But either Bitcoin or gold is going to win; you can't have both.
wrong

>He is especially insistent because the Bitcoin bubble has already burst
Just like it already burst in 2013-2014 right? Stop being a brainlet and look at a log chart of bitcoin's price

>Schiff could make a far better case against Bitcoin if he knew more about it. I doubt he's aware quite how useless it is. Even if the LN, which is perpetually "two years away" was widely implemented, BTC would only be usable by 0.1% of the world's population.
While I agree Adam Back is a piece of shit and Blockstream are a bunch of kikes bent on sabotaging their own coin, this is a moot point when the context of your criticism is gold vs bitcoin. It's laughable as a goldbug to complain that bitcoin isn't fast/easy enough to move around or use as a medium of exchange, considering gold is infinitely worse at all those things.

>>21664588
Gold has been around for fucking millenia.
Crypto is 12 years old, with half of that being for pure fucking nerds.
I'd say its doing pretty well.

>>21666283

>>Gold has been around for fucking millenia.
>>Crypto is 12 years old.
>>I'd say its doing pretty well.

Replace the word "crypto" with the South Sea Company or the Mississippi Company or the Dotcom-bubble NASDAQ and you will see how fallacious your argument is.

>>21666532

Crypto and PMs are both better than fiat. Invest in both, choose how much % to put in each

>>21664558

>>21667515

If you were a libertarian or a cypherpunk who got into Bitcoin early, you made money. All those people, the principled and intelligent early investors, like Mike Hearn and Roger Ver, have already sold their coins. The only people left now are late-comer moonboys who think that the past is the perpetual present, and that now it's "their turn" to be a millionaire. You can tell from the low level of intellectual discourse in this thread. Peter Spina made the best trade of his life when he cashed out Bitcoin at $15,000, and traded it for precious metals and mining stocks.

>>21667774
i made more money (% wise) on bitcoin this year alone than on gold the last decade you clueless moron.

>>21667774
>Peter Spina made the best trade of his life when he cashed out Bitcoin at $15,000, and traded it for precious metals and mining stocks.
also in 2 years he will be called the biggest fool ever apparently.

>>21668015

Empty boasts of an empty-headed moonboy.

>>21668389
How is it empty when it’s true, you double nigger gorilla faggot?

>>21668389
if only you could check the charts yourself...

>>21668478
>double nigger gorilla faggot

>>21665839
Which mining stocks do I buy babe?

>>21663923
He knows that as soon as we start mining the first asteroids the value of his boomer rocks will drop to nothing

>>21664764
"you cant use the internet to send information, if everyone used it every day we would run out of floppy disks" - classic retard take from a classic retard.

>>21666532
.com bubble has far surpassed gold and gold will never recover.

>>21667774
>Bitcoin can no longer make you rich
>Bitcoin is not accepted by 99.999999999999% of world's vendors for goods & services

literally a pocket lint commodity

>>21668995

>>21669296
Hurrrrrrrrr feeeeeeeeeeees i never learned the technology so I assume fees are eternal DURRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR

>>21663923
Jews mad because they can't control crypto and steal from people in the name of an entity.

They will find a way eventually, jews always do.