/biz/ - Business & Finance

>>24993824
it's a clown world bud, best start clowning around urself or u'll go mad

>>24993824
Pic related bobo

>>24993824
>Really why the fuck is this happening?

Dude just short bitcoin and STFU

>>24993824
we’re just hiding money inside of math
there aren’t a lot of math pieces left
and no one wants the dollar because we’re magically writing new ones into existence
but this specific piece of math can’t magically write new math blocks into existence
so number go up
because dollar go down

>>24993863
This is the best answer.

>>24993824
cope... Don't fixate on the unit so much... People fixated on the unit "bitcoin" when it was trading for pennies and somehow people never changed to a new convention like a 1/10th of a whole bitcoin.. Or on another timeline we could be fixating on 1/100th a bitcoin as the standard unit. The market cap still isn't that big for what has increasingly been referring to by institutions as digital gold.

>>24993824
>Massive worldwide unprecedented inflationary events with no end in sight
>Millenial's only hold 5% of the wealth today
>Bitcoin is worth 1/30th of gold, yet does everything gold does better and things gold can't do

What about this do you not understand exactly?

>>24993888
>>24993947
>>24993863

I'm not mad anymore, I'm just confused and disappointed. Please tell me how a digital asset made by a person calling themselves Satoshi Nakamoto (possibly the CIA) can go from 6 cents to 24,000 USD? It makes no sense anymore.

>>24993824
>only to crash it to zero once all the lines have been hooked
imagine having to believe this to prevent you from killing yourself.

>>24994041
I'm not imagining it to happen, but I'm saying it's a possibility. If we really do live in a clown world, then anything is possible, good and bad.

>>24994021
That's fair, but a over 46,000,000% return on an asset is frankly simulation level of happenstance.

I don't get why bulls are so hostile, I'm not fighting it anymore. I just don't fully comprehend how civilization can be so greedy to run something up so much in such a short amount of time. No matter which way you look at it, this is a zero-sum game. No one wants to sell at the bottom, everyone wants to sell at 400k, but not everyone will.

>>24994024
dunno the first $1000 was way harder than anything that follows if you ask me

>>24994024
Sorry anon perhaps it is time to face the fact that you are low IQ. Consider becoming a bricklayer or a trench digger.

>>24994201
to be fair bitcoin was specifically designed to do exactly what it is doing

>>24993824
It’s from the tether release on saturday. It’s not real money though. Market cap increased by almost $500 million, so lots of tether stuck in the system.

>>24994024
It's mispriced, obviously. It started at a value of zero. If you think it's worth 6 cents, then guess what? To you, it's worth 6 cents. Here's a secret to the universe that is always true:

Value is that which someone is willing to pay for it.

>>24994201
Bitcoin isn't only valuable in itself. It's also valuable because other things are less good. Bonds have negative yield in Europe and close to zero yield in the US - do you think that's a better investment? Understanding inflation makes this even more comical. Do you think that Apple is worth 2 trillion? Give me your valuation based on earnings and explain to me why. Tech stocks are now being used as stores of value, along with many other stocks grossly overpriced. Real Estate is at an ATH during a recession, but by all means buy if you can afford it. Why is gold worth 30x more than Bitcoin? Importantly, what do you think it's worth, and why?

Start digging into these questions. Watch videos by Michael Saylor, Preston Pysh, Raoul Pal, they cover the most topical arguments. And no need to be angry, when you begin down this rabbit hole, you'll realize how insanely early you are.

>>24994024
Made by the cia. That’s why it’s pumping. All the cia agents own bitcoin. It’s a huge pyramid scheme. Just buy in now.

>>24994283
It’s not btc but tether. There are now soon 21 billion tethers in the system. If this increase continue there will be more than 70 billion USDT next year.

>>24994003
1 satoshi = 1 dollar 2050?

>>24994421
>Tech stocks are now being used as stores of value, along with many other stocks grossly overpriced.

I completely agree with that, and I don't know why it hadn't clicked that way before. Makes a lot more sense when you phrase that. It's not that Bitcoin is ridiculous, it's that everything is.

>>24993824
just fixing his phymosis issue

>>24994496
nah tether is not going up in price bitcoin is. because it has been designed to do so. from the start.

you are grasping at straws tying how it's not your fault for misjudging the market completely.

>>24993824
Read up on tether

>>24994201
>No matter which way you look at it, this is a zero-sum game. No one wants to sell at the bottom, everyone wants to sell at 400k, but not everyone will.
Currency is a zero-sum game competition... There really only needs to be one globally, a free market in currency with no laws about fiat would trend to one large network effect for the sake of efficiency of trade. There are many because governments use control of their money to fleece/rob their tax cattle more and get more power of them. No one opts into fiat, they don't have a choice they have to use it... They opt into bitcoin because of its fixed long-term deflationary monetary policy is to their advantage in comparison.

Seems weirdly hostile to me to paint a life-raft like that in such negative terms when so far in the long run everyone who has gotten into bitcoin would have seen the value rise so long as they held. Were you this perplexed at the injustice of inflationary central banking before? The sheer exploitative greed and unfairness of that system? You should have been.

>>24994541
Not only that, stock buybacks have made stock prices ridiculous PRE-covid.

Look up Dalio's economic engine video, we were due for a bust regardless, credit, malinvestments - it's how the cycle works. Bitcoin offers a much needed opt-out/alternative. This requires first principles thinking.

>>24994603
Read up on DeFi.

Bitcoin is a completely new asset class that started at zero and is undergoing price discovery.

>>24993824

Even if it somehow is going to 0 in the future, it is so volatile that even a small investment is worth it.

>>24993824
it's because you're a moron anon. it's because you believe the propaganda sold to you on a daily basis. it's because it's impossible for you to look behind the curtain and comprehend what you're seeing.

BTC is a decentralized global network that exists outside the system. The reason it's valuable is because it's decentralized. Figure out what that really means and the rest falls into place.

>>24994421
>Bonds have negative yield in Europe and close to zero yield in the US - do you think that's a better investment? Understanding inflation makes this even more comical. Do you think that Apple is worth 2 trillion?
Here's something you're misunderstanding. You believe that stocks have some form of intrinsic value. Maybe in the past people used to play by those arbitrary rules. But today? You'd be going broke.

I believe that we've entirely departed from P/E and marketcap. It literally doesn't matter, especially in an environment of rampant money printing/inflation of the money supply. The only useful way to use those two metrics is as a relative measure to other assets in the same sector. That is all.

Allow yourself to let go of the Buffett model, it no longer applies.

>>24994599
If you buy bitcoin it will (officially) go like this:

$ -> USDT -> Btc

The dollar is supposedly kept by the bank.

If you sell bitcoin it supposedly goes like this

$ <- USDT <- Btc

The tether is redeemed and the bank hand the dollar to the seller.

Now explain why there are more than 20 billion USDT in the system.

>>24994421
This, 100x.
You can stop any discussion if btc is inherently sth worth. It has perceived value, people pay 24k for it. There's no difference to a metal called gold. It has limited supply, it works, it's been around. And that's fucking bullish if you ask me when you take a look at worldwide qe, zero interest rates and debt accumation.

>>24994541
What is the total market of bonds, equities, real estate, and gold? With the current rate of asset inflation, how many hundreds of trillions of dollars are sitting in assets with zero or negative real yields, just looking for a safe haven against inflation? Bitcoin is the ultimate scarce asset, wall street has taken notice, and now its becoming a trend amongst money managers to put 1-2% of their fund's portfolio into bitcoin.

What would happen to the market cap of bitcoin if just 1% of that money flowed into bitcoin?

>>24993824
Because Unlike you, it has a purpose in this world

>>24994907
you do know most tether is used in international commerce and not in the crpyto markets right?

>>24993863
This

>>24995080
No I don’t knowthat because it isn’t true. The vast majority of all tether transactions are within the crypto market place.

>>24995444
that was a long time ago

>>24995444
tether today is mostly used to avoid sanctions or inconveniences by chink traders.

>>24995931
>>24995969
Then show your sources, let’s go.

>>24993824
>This shit was 6 CENTS in 2011.
welcome to innovation boomer

>>24993824
byzantine fault tolerance is a real and desirable money parameter

>>24993824
Satoshi wanted it to grow organically, could you imagine in 2009 if someone marketed this shit for 50 dollars per coin mined? It would die almost instantly.

>It just seems to good to be true.
It is, but this has been 11 years of natural progression, utilizing game theory and peoples built in evolutionary urges to acquire something that is S C A R C E

>I DON'T UNDERSTAND WHY IS THIS THING GOING UP IN VALUE
https://duckduckgo.com/?q=byzantine+fault+tolerance
educate yourself once and for all, faggots

https://www.tutorialspoint.com/what-is-byzantine-fault-tolerance
>Imagine that several divisions of the Byzantine army are camped outside an enemy city, each division commanded by its own general. The generals can communicate with one another only by messenger. After observing the enemy, they must decide upon a common plan of action. However, some of the generals may be traitors, trying to prevent the loyal generals from reaching an agreement. The generals must decide on when to attack the city, but they need a strong majority of their army to attack at the same time. The generals must have an algorithm to guarantee that (a) all loyal generals decide upon the same plan of action, and (b) a small number of traitors cannot cause the loyal generals to adopt a bad plan. The loyal generals will all do what the algorithm says they should, but the traitors may do anything they wish. The algorithm must guarantee condition (a) regardless of what the traitors do. The loyal generals should not only reach agreement, but should agree upon a reasonable plan.

>>24993824
seems like you aren't smart enough to grasp bitcoin, but do yourself and your children a favor, were going to 500k unironically.

>>24993863
First post Best Post

>>24993824
“Please tell me how a Pokémon card that someone could’ve bought for a few bucks back in the day is now worth over 100k”

>>24996373
Holy fuck you are retardedly new, tether gives dollar exposure to characters who want it Through an unconventional, more liquid means. your noob argument is any tether printed is used to buy btc, when I have over 100k usdt sitting in my wallet right now and I’m sure whales have 10-100x that

>>24994907
Untrue and nice cope. There are tons of fiat on and off ramps all over the globe.

Not every country has a stable economy.

The use case for placing your currency for example like Zimbabwean dollars into BTC or ETH. Venezuelan dollars or some shit.


Apparently most of the economy in Zimbabwe is backed by bitcoin as well. Over the last few years African countries like Nigeria and Ghana have place more investment into crypto.

its virtually impossible for crypto to inflate.
Its possible for USD to inflate or any other FIAT currency.

I would stop thinking outside of your bubble or country