/biz/ - Business & Finance

no

>>25037354
based schiff

i'm afraid he's just going to get too based as he gets older

You can also buy fractional gold, and it won't drop thousands of dollars when you go to sleep. Not saying BTC is a bad investment necessarily, but it's absolutely unbelievable people are buying it at these prices. I don't see it ever being below $8k again (save for a black swan event) but anyone with even a room temperature IQ knows the rugpull is coming.

>>25037354
>retarded boomer yells at technology

>>25037396
Thats what happens when you have a micropenis. You spend you day trying to fuck with chads on twitter.

>>25037354
he's always right.

>>25037484
so? In 10 years btc will be atleast at 1m.

>>25037484
I get what you are saying but the demand for a scarce coin exists.

>>25037396
>>25037474

>>25037354
but u wanna know what? at this point he has had to realize bitcoin can do what his gold never will. he's not dumb. understands what's wrong with fiat money and all. he wants it to succeed inside i'm pretty sure.

picrel is a schiff gold comic.

>>25037629
*rather: he knows it will succeed inside i'm pretty sure. and he wants to be alive when it does.

>>25037611
KEK!

>>25037525
>>25037538
I get the demand, otherwise it wouldn't be as high as it is right now. When CNBC and other institutions are now actively shilling crypto when they've spent it's entire existence calling it a scam (while likely secretly accumulating, along with the Chinese) it's definitely a sign not to touch the shit with a 10 foot pole right now. When a foreign country has a bulk if the supply of an asset (a country we're not exactly on friendly terms with) you know it's coming. The US printed roughly 20% of it's actual currency this year. That isn't a move made by a country that is economically well off. The reality is going to set in for people that we're in dire straights economically sooner rather than later, and putting your money into assets is definitely a better idea than holding the worthless US peso. An asset that's been mined to the extent as I mentioned above doesn't sound like the safest places to put it, especially on a market that is still largely seen as a casino and/or scam.

Tl;dr - he's probably right, but this whole saga is still unfolding, especially given this (((pandemic))) adding a new plot twist.

>>25037521
lmfao

what a fucking mongrel

>>25037521
holy shit this could go on for YEARS

>>25037354
10/10 is still a fraction

>>25037354
So someone with a whole brain buys a whole bitcoin??

>>25037354
Peter Schithead

>>25037611
Is this real?!

You guys know that Schiff just pretends right? He just shills gold because he knows how to sell it to retards. His fund invests in everything not just PM's. He 100% holds some BTC. Blind followers get what they deserve.

>>25038054
It ain't a fraction you moron. It is a whole number improperly expressed or, as in this case, a score representing perfection.

>>25037354
that would require billions of boomers who need to be shown daily 'how to make facebook the first page i see?' being right as well. doubtful. but he can't capitulate, illiterate fear is his business.
i also hold pms.

>>25037484
>I don't see it ever being below $8k again
And why isn't $8k "absolutely unbelievable" for a coin that was 0.8c 10 years ago?

>>25038118
Why do people think this? I think he holds the gold and silver and he lets his kid hold the bitcoin. I think he legit doesn't trust bitcoin but is ok letting his kid gamble on it in case he is wrong.

He is accumulating since like last year. Anyone that takes this goober seriously is a dumb ass.

Watch him be in the citadel come 2023. Bastard has no shame.

>>25038690
>Bastard has no shame.
Of course he doesnt hes a fucking kike

>>25037611
>a jew making anti-family jokes
shocking.

>>25037484
Gold is a shitcoin.

From 1980-2009 it bleed for 30 years.

Imagine being a 20 year old gold bug in 1980 and going all in. You would have to wait until you are 50 years old to be break even nominally.

However in terms of real value you still wouldn't haven't even broken even.

Gold is trash, Bitcoin is king.

>>25037521
>I HATE BITCOIN
>THATS WHY I SPEND SO MUCH TIME AND ENERGY RESEARCHING IT AND POSTING MY OPINION
this fag is just fudding like I do with link

>>25037354
On Bitcoin yes, on crypto no

>>25037354
new

>>25037354
No because he views bitcoin as a single thing. Bitcoin itself might not be that amazing from a technical standpoint, but people will start to give it utility by adopting it into other blockchains. Wrapped BTC is already becoming a big thing and people will take that to the next logical conclusion which will be to create DApps that only accept BTC or WBTC in order to either make or accept payments or as part of some protocol that gives you a way to mint some other asset or token that can be used in another application and so on. Just like early on gold was kind of useless other than for the aesthetics and then we realized it had other properties that made it valuable and we started to use it for electronics. All it takes is one big company to say "we will only accept btc payments for x y and z" or "wrapped" btc payments and then people will go trade fiat for btc to then make that payment or meet that specific requirement. BTC will become a "luxury" crypto and it will be used because it will give us access to something that we find aesthetically pleasing. The stored value of all the electricity that's ever been used to mine BTC will also become relevant just like the energy it took to find all the gold that's currently in circulation. Since gold is difficult to find it's scarace and as Bitcoin becomes more and more difficult to mine it will become more and more scarce which also feeds into the aesthetics narrative. The harder it is to find BTC in the future the more people will want it, each line of code that represents a single satoshi will become valuable to people that are trying to attain a whole Bitcoin one day even if it's just to gain access to something that can only be attained by wrapping 1 whole Bitcoin. Bitcoin will become super exclusive even if in the end the whole thing dies it will still become an oddity of our times and be sought out by collectors which will maintain it's value into the future.

>>25039071
He's going to an hero isn't he?

>>25038763
It's not a family anymore if it's her ex wife. You don't know who wanted the divorce. Seriously just go back to /pol/.

>>25037354
Yes.

>>25038763
>ex-wife
>anti-family joke

Schiff doesn't get it. Cut and dry. He will when he's forced to buy it.

>>25037354
I've never bought an expensive coin, is this how it works?
>put down $10,000 into a $20,000 coin
>coin pumps and is now worth $25,000
>sell and your profit is is only $2,500
Why the fuck do people buy expensive coins? Is it purely a braindead richfag territory?

>>25037354
no
https://twitter.com/gladstein/status/1340835463620259841

>>25037521
he lost like 50 million because he stupidly bought PR bonds before their entire island collapsed

My buddy had a garage sale and his wife sold all his boardgames without telling him. The boardgames were where he had hidden his gold since his kids are grown. This would never happen with btc.

>>25039385
>>25039415
>ex-wife
>not family
are you memeing on me lads

>>25040438
wife dead? kek

>>25038118
https://mobile.twitter.com/peterschiff/status/1218911797626847234?lang=en
https://mobile.twitter.com/peterschiff/status/1220135541330542592?lang=en

>>25040479
He was almost dead because he was hiding those coins from his wife.

>>25040438
Did they ever get them back?

Also harddrives do get tossed lol

>>25037354
hahaha now the boomer is absolutely seething

>>25040854
No. He never got his gold back. What world do you think this is?

>>25037611
based

>>25037354
Mother of God

>>25041347
based https://youtu.be/brHOdYhk9TI

>>25040545
>intrinsic value
this retard is such a jew
he speaks loudly about free market, supply and demand
still falls for buzzwords like intrinsic value
oxygen has intrinsic value, still free

>>25040438
>DUDE WTF JUST HIDE YOUR GOLD IN LITERAL BOARDGAMES.

What a man child, just keep your gold with a bank lol. It's not like 99/100 banks you kept gold at in the last 100 years would have taken your gold or anything right?

>>25039022

^What he said.

Schiff is a right about the fed and gold and such although once you've heard one of his rants you've heard them all. What he doesn't get or won't admit, however, is that crypto has a very solid use-case in evading currency controls. If shit gets fucked in this country, crypto is the ticket to get out.

>>25037521
Mentally fucking ill.

>>25042238
That's what he wants you to think.

>>25037521
>Alex Jones has capitulated

This man absolutely owns at least one Bitcoin

>>25037521
I almost feel sorry for him

>>25038440
hes a gold salesman, his company sells gold, it's his job to shill gold

>>25037521

He's right short term about the Grayscale bubble. Volume is extremely low compared to 2017 because most buys are OTC from Grayscale.

They are buying shares at a discount and eventually their share price will go below the value of Bitcoin and the crunch will be insane. They'll be selling more BTC than the miners and nobody will be buying Grayscale on the way down - /biz/ will buy on the market, and institutions won't buy in a bear market.

He's wrong long-term, however. Nobody should be a BTC bear on a 5+ year timescale.

>>25038788
in relation to currency yes
then again currency has devalued over 30 years anon
are you the guy giving the burgers 600USD

>>25043155
low spot volume compared to high derivatives volume in 2019/asuka rally was why I sold that top.
i've been scaling out at the wrong time during this rally but still have a good chunk to sell / take profit / short with stablecoins.
i don't get how grayscale's share price in relation to the btc price works though... can someone explain

PETER PETER PETER
I LOVE YOU GUY
BUT I DONT LISTEN WHEN YOU SAY BUY

>>25038440
He is so rich that it doesn't even matter. He's missing out on a huge boom, but being heavily invested in gold will serve him well when the crash comes and/or as the middle class whithers away. He's set for the future, he just could have been much richer is all.

>>25039519
>KEKW

kek wills it

>>25037611
based boomer humor

>>25037502
>dumb zoomers 'investing' in the chinese trojan horse

>>25037354
lol based

>>25037484
Based

>>25037484
>I don't see it ever being below $8k
i have been reading this shit since 2017. yoy faggots never learn...it will dump again

Where the fuck is the /smg/ thread?

>>25037354

Yes, obviously.

>>25037354
Unfortunately, he is too smart for Bitcoin

>>25045826
This cope is incredible.

>>25039071
>>25037521
Imagine being a Goldbug. Imagine accurately predicting the collapse of Fiat and western economy because of fake pumping of price and impossible economic practices. Imagine understanding everything and why an objective store of value will balance it all out. And because of that you buy Gold. For 30 or 40 years. You buy, even though the returns are not great. You could have made more money investing in stocks, real estate, P2P cash, bonds or anything. But you didn't, because you knew eventually everyone will lose everything and you'll stand among the ashes. Heck you sometimes even lost money because Gold couldn't beat inflation.
And now comes the day. You see it inching closer and closer. It's happening, you can almost feel the entire economy collapsing right into your hands and then... a bunch of Nerds invent an imaginary Internet coin and all the wealth shift you expected to go to you goes to them instead. They inherit the world and everything that would go to you and they didn't sacrifice a thing. Didn't miss any opportunities, haven't wasted their lifes, heck most of them aren't even in their 20s yet! How is this possible? This can't be real.
I'd be mad too.

>>25044022
Isn't the whole purpose of gold supposed to be a hedge against inflation? If the USD was devaluing for those years why wasn't gold performing super well? I'm convinced PMs are at best a savings account and not a real investment that will increase in it's dollar value because it increases in real world value, like a company or some new technology.

>>25037354
The problem is that Peter is accomplishing exactly what he wants. And that is attention, everyone in crypto knows who Peter Schiff is, he wants to stay relevant so he will keep being a contrarian troll as long as people in crypto keep reacting to his idiotic tweets.

>>25046040
He can do that. He'll go down in history as the biggest idiot to have ever existed. He'll be more famous than the Bitcoin Pizza

>>25037354
he's right
short the fucking ponzi

>>25045919
Being a 'goldbug' in itself is already dumb, there are only people who made the right moves and wrong moves. You can be right your entire life and make one wrong move and fuck it all up, and not moving also counts as a move.

Tying your identity tribalistically to worship of a hunk of metal is a low IQ play regardless.

SchiffGold - Peter Schiff's Gold Company, Madison Ave, New York, NY 10016 google maps bros, lets make piter happy

>>25037354
Ah Mr Schiff, the man who accurately predicted 20 of the last 4 recessions

>>25045919
I have about 3 months worth of living expenses in gold and that's good enough for me. Gold is the emergency fund of your emergency fund, and it shouldn't play a larger role in your life than that.

>>25037354
>https://en.wikipedia.org/wiki/Peter_Schiff
I'm honestly not sure if Peter Schiff is a real person. I think he's either a robot, or more likely an alias and a fake persona who's sole purpose is to try to convince retards not to buy btc. If you look at his twitter it's basically pure cope filled with negative comments. I think this guy is a CCP operative trying to convince dumb Americans to miss the boat.

>>25037354
admitting hes wrong now would be admitting hes been wrong for more than 10 years his fragile ego cant handle it so he will simply keep doubling down

>>25038763
This is bait

>>25040472
It's not family if it is an ex-wife. It is a previous acquaintance.

>>25037508
>chads on twitter
1000 of those chads combined don't have as much BTC as Roger Ver and they spend 24/7 shitting on him, so...

>>25037977
Don't call it US peso. At least Peso is real money compared to dollars.

>>25040472
no blood relation
not married
not in a relationship with (presumably)
no contact beyond that related to the kids (and only if they're still minors)

why the fuck would an ex-wife be considered family? are you stupid?

>>25037354
Schiff is just scared this shit will replace gold. Does he only shit on Bitcoin or crypto in general?

>>25037521
>Jan 24, 2022
>#Bitcoin has finally broken below the support line of the largest meme pattern of the say. This is a very bearish meme pattern and it confirma a major top has been established. The risk is high for a rapid descent down to $46,000, or lower!

>>25037611