/biz/ - Business & Finance

>>25202021
I've never seen one man so obsessed with losing at every turn.

>>25202039
he would be right if bitcoin wasn't actually BFT
but right now, bitcoin can win against the chinese firewall
it has no more obstacles

>>25202021
>will never come close to having the value of gold
what kind of special crack is he smoking?

>>25202039
Does anyone buy his act? This guy is loaded to the brim with Bitcoin hedge.

>>25202021
I watched an interview with max kieser and it finally hit me. peter schiff will literally shill gold to his death. he will never ever capitulate

>>25202021
Why does this guy have any followers? Gold is the stupidest meme ever. If society collapses people won't trade fucking gold, they'll trade supplies. If the dollar collapses, people will use bitcoin. Buying gold is a waste of fucking money

You have to think of the size of the class action lawsuit this cuck would face from all the boomers he fleeced for pretty rock. He HAS to die on this hill.

>>25202682
>society collapses
>a currency requiring an advanced computer network for it to have any worth is somehow valuable
Now that is some top tier cope. I don’t care about gold, but at least it can be melted down and used for something

>>25202682
>the dollar collapses, people will use bitcoin
you mean all the people in US will transact business using bitcoin that only has 5 TPS?

>>25202682
they'll trade bullets

>>25202750
in this hypothetical situation I think only rich people would be conducting business while the literally billions of peons suffer in abject poverty. I’m a bit concerned about the future

>>25202768
Much more accurate. Been stockpiling bullets for years now

>>25202021
i mean hes not wrong its literally air

>>25202185
What's the narrative here?

>>25202682
Gold and silver have real world functions.
Bitcoin only has a function as a payment method
Bitcoin is also useless to everyone who doesn't have a computer/phone.

Gold and silver will soon go back to being money.
Bitcoin is a good investment and has a lot of utility, but it isn't money.

>>25202021
When will he capitulate?

>>25202021
I mean, pound-for-pound, BTC is worth hundreds of orders of magnitude more than gold.

>>25202791
>only rich people would be conducting business while the literally billions of peons suffer in abject poverty
Anon, I...

>>25202791
Or the government can create its own centralized shitcoin and airdrop it to citizens as a form of UBI. You can then sell your gold and silver to government for extra shitcoins. Bitcoin won't be accepted because government won't want its shitcoin to be the only legitimate currency.

>>25202872
you are such a dumb piece of shit, i do not honestly believe someone could believe what you are saying

>>25202746
The only inherent value gold has is also in advanced electronics, so your point is pretty dumb. Maybe jewelry too but its beauty is merely a subjective thing. For anything else other materials are far more suitable.

BTC marketcap: 1/2 trillion
AU marketcap: 10 trillion
hmm..

>>25202872
>Gold and silver will soon go back to being money.
Said the increasingly nervous gold bug for the 10,000th time since 1913

>>25202898
typo
>government WILL want its shitcoin to be the only legitimate currency

>>25202906
Gold has had value since long before computers existed, familia.

>>25202898
>>25202936
How is this literally any different from the USD as it currently exists

>>25202682
>Buying gold is a waste of fucking money
You are so confused anon.
Gold IS the money. The worthless, depreciating fiat you are using to buy things is a currency.
Also BTC is not money, is not a store of value, it's simply a medium, and you'll never be a woman.

>>25202998
BAAAAASED

>>25202956
Only because we didn't have the tech to use other better materials instead, but we do now. And because of the, as said, subjective perception of beauty.

>>25202669
Yeah no shit he's literally a gold salesman, he literally owns a company selling gold.

>>25202994
All transactions will now be completely traceable on government blockchain. Do you not realize its implication?

>>25202998
>gold is money
Go try and buy literally anything with gold, retard. Money MUST be a currency or it's not useful money, it's just a shiny rock.

>>25203011
>subjective perception of beauty
Only kikes try to shill beauty as a subjective thing. Probably because you all are hideous. Read Socrate and Plato definition of beauty you fucking rabbi.

>>25202935
usdebtclock.org

They kept this whole scam going for a while but we're reaching the endgame now, especially with all the COVID spending

>>25203011
gold isn't even that useful for electronics. silver is a better conductor than gold, the ones that use gold do it simply because gold doesn't rust as fast and so they can charge you more for the shiny plug

>>25203030
This is already true for all non-cash transactions, which make up the overwhelming majority of the economy

>>25203059
Goldbugs said we were "reaching the end game" in 1987 and in 2000 and in 2008 and in March. Gold still has flaccid tiny dick returns compared to literally ANYTHING else. It hasn't even been particularly effective as a store of value, not compared to land.

>>25203034
I can buy currencies with gold, check mate you mongoloid.

>>25203062
I’m a military PCB inspector, and most Class 3 boards use a lot more gold than silver.

>>25203101
I cam sell my Gamestop stock for USD at any time, that doesn't make Gamestop stock money.

>>25203059
Its just numbers on a screen. They can just say poof and the debt is gone, nobody cant do anything to change that because us military.

>>25202909
What’s more realistic is Bitcoin rises to 10 trillion and gold to 100 trillion in economic crisis

>>25203023
This is Peter Schiff. This is what he is doing.

>>25203114
If you don't get the subtlety of the wording i used and the difference with the one you used, i can't help it.
The cold hard truth is central banks are controlling the world, and CBs control over half the gold bullion in the world, but they hold 0 buttcorns.
If your masters value gold over anything else, and don't give a single fuck about your obsolete ponzi digi-air backed by nothing, maybe you should try to get some perspective about the decisions you are making.

>>25203101
You can buy currencies with BTC--does that mean it is money?

>>25203220
Why can't goldbugs justify the value of their shiny rocks without resorting to word games, or to shadowy cabals of mountain jews simultaneously hoarding the shiny rocks while depressing the price of them?

Gold has zero intrinsic value beyond it's industrial uses, which have been largely eclipsed by silver.

>>25203275
>referring to an industry you know nothing about
See >>25203108
In expensive, IPC class 3 electronic PCBs, gold is used much more than silver.

>>25203275
>Gold has zero intrinsic value
It has instrinsic value, it's the huge amount of energy and human power spent to get it out of the ground and melt it down.
Contrary to buttcorn, who have literally 0 intrinsic value since it require 0 energy to replicate and you can make an arbritrary large number of them.

>>25203250
No. Because BTC isn't money, it's a currency.

>>25203324
>Marxist "work magically creates value" rhetoric
l'mao, enjoy your debunked early 20th century view of economics

Why don't you go dig a hole and fill it in a couple times? That requires a huge amount of energy and human power but has no intrinsic value, just like gold.

>>25203324
Spending energy on something does not give it inherent value, least of all actual price which for gold is much higher than its inherent value. The energy spent on extracting gold is worth it because of its price, so saying its price is due to the energy we spent digging it out, would be circular reasoning.

>>25203324
25000ssc->mpVGdmWK
There, I just sent you 25k ssc (super special coin) that I arbitrarily created. /biz/ threads are my "blockchain" so you know it's secure.
You just claimed that was the same as sending you some bitcoin. Are you dense?

>>25203134
>They can just say poof and the debt is gone, nobody cant do anything to change that because us military.
People unironically think this. They think a central bank printing press is magic.

I'll explain it real simple for ya:
US government borrowed a bunch of dollars and spent them
Those dollars are now owed TO bondholders
You can't just default on your obligations to bondholders, which are mostly US institutions, citizens, IRAs

Now the Fed owns a lot of bonds too, we can just not pay them back, right?
Well every dollar the Fed spent on bonds was borrowed into existence
The market looks at this and has an expectation that they will be paid back
If they aren't paid back with future taxation they stay in circulation and create inflation

You say inflation isn't a problem but when people start to really lose confidence in US dollars and bonds and their ability to hold value, they will go into freefall.

>>25203094
>This is already true for all non-cash transactions, which make up the overwhelming majority of the economy

You are right on that, traceability is not that big of a deal. But don't forget the government can literally starve you by blacklisting your wallet on the blockchain. That's the power they will gain when they implement digital currency.

>>25203441
The question is: What will your US dollars buy?
Over this past year they've bought less and less of everything: BTC, Euros, Gold, used cars, food

The inflation is starting to really bite and it's only gonna get worse, because there's nothing the Fed can do about it when they've already committed to not raising interest rates.

>>25203371
It have nothing to do with Marxism, an anon already explained it to you yesterday, you are so utterly confused... Or straight out lying.

>>25203390
It does for a commodity you brainlet.

>>25203439
>You just claimed that was the same as sending you some bitcoin
It's exactly the same thing, indeed. The only difference is your brand isn't hyped by cretins, yet. Truth is any shitcoin is just a medium. You buttcorn maxis are like retards trying to collect as much telephone cable as you can because transferts are done using them so the value must be in the cable, right?

>>25203527
>It does for a commodity you brainlet.
No it does not you brainlet.

Unironically that will be the next cycle top. 5 Trillion

>>25203527
No, "value comes from labor" is a core tenant of Marxism and was comprehensively debunked by automation and the information age. Saying "gold has value because of the labor required to extract it" is repeating tired Marxist rhetoric, whether you understand it or not.

>>25202682
No retard, if the $ collapses the government seizes bitcoin and makes it close to the same worth as the old $ used to be so $25k bitcoin will only be worth like $25. If society as a whole collapses then we trade physical items to stay alive until we can rebuild.

that post won't age well

>>25203677
actually the labour theory of value originated from David Ricardo which was one of the founders of classical economics and capitalism

>>25202021
Value of gold per what? Kg? Ounce? Dick?

>>25203354
It is both.

This is what goldfags can’t understand. They simply cannot process that we’ve actually merged Money and Currency in a beautiful, groundbreaking, everlasting and legitimately smooth/easy to use marriage of technology

>>25202750
Bitcoin will remain online as long as there are some miners. It does have flaws.

>>25202682
>If the dollar collapses, people will use bitcoin.
Let's be honest here. That will never, ever, ever happen. It's an impossibility.

>>25202021
yes

>>25203354
No bitcoin is a payment system, a stock, digital gold, and a public ledger rolled into one.

>>25202865
BFT means byzantine fault tolerance
it means that governments/companies can't control bitcoin transactions or any parameters of it's protocol that aren't backwards compatible

basically the whole value proposition of bitcoin is 'No trusted third parties'
while it has BFT, bitcoin has value, and nothing anyone says will change that

>>25204860
BTCPayServer, BitPay, LNStrike and FoldApp are payment systems
bitcoin is the peer to peer cash where these systems are built on
and before some nigger cashie comes in, this is all on chain and non custodial
all the payment system does is organize the addressees in which you receive the coins

>>25203354
it's both

>>25202021
THE PROPHET HAS SPOKEN

>>25202021
this has got to be a charecter he plays, right?

>>25202021
>>25202185
>>25204893
schizo