/biz/ - Business & Finance

anywhere between 60-400k. good luck

>>25431178
max 37K down to a min of 20K then 85k EOY

I was thinking of laddering out in may

>>25431178
what bubble, it is bitcoin

currently happening

>>25431753
>what value, it is bitcoin

ftfy

>>25431178
Lol right bro? It can’t stay this way forever

>>25431807
this the tether scammer will have to sell some BTC now to show up with some real USD.

>>25431178
$650,000. And the real trip is it doesn't even burst, it just flattens and trades like gold.

>>25431178
head and shoulders just formed, time to sell all BTC and move to ETH

>>25431178
Peter Schiff spotted

>>25431889
I think thats another coin anon

>>25431839
What you're seeing in btc is the price catching up with this inflation. The price is merely the conversion rate. The reason it swings so hard is because people know what the price should be but can't go there immediately without establishing incremental levels of support.
1 btc = 1 btc

>>25431981
>US inflation ~2% annually since 2010
>BTC up 400%+ in a couple months

Checks out

>>25431178
It’s not a bubble you stupid nigger

>>25431178
prediction from 2 years ago had the top at over 300k

>>25432042
Yes because the market cap isn't fully realized yet. Because we know this asset is going to hold a stable value against inflation, but at a higher cap than it is now. Gold did the same shit once upon a time

>>25432042
I only measure in BTC / Venezuelan bolívar and we are doing completely normal.

>>25432131
>market cap isn't fully realized

So what's a fair market cap for bitcoin and why? Also, what makes BTC a better inflation hedge than ETH / any other crypto? This rally is fueled on hype because of a couple of institutions buying BTC - if it were fear of inflation then other inflation hedging assets would at least be up an order of magnitude less but none of them are except other fringe crypto shit. You're right in that we've seen this happen with gold before - everybody gets spooked over inflation and rush into gold, then the price jumps and people fall for "Greater Fools" mentality believing they can make a ton of money if they just buy now while it's shooting up and profit off the momentum. Same mentality that led to excessive housing prices all across the US ca. 2000-2006. This kind of short-sighted thinking never ends well

>>25432138
>BTC rally is fueled by Venezuelans pumping it

This is arguably the most reasonable explanation were Venezuelans not shit poor

>>25432042
kek its way worse than 2%

>>25432391
1 year chart looks fine to me. people measuring it in USD are just silly dumb dumbs uwu

At some point sellers (people who made a profit and are trying to cash out) will outnumber the buyers (people trying to get in the bandwagon later and later)

And at this point the sell-off will begin.

When is that going to happen? Who knows.. but I think it will take some time.

>>25432441
So the aggregate prices of goods have risen more than ~2% annually in the US over the last decade or are you just pulling this out of your ass because you saw the money supply graph and don't understand how quantitative easing differs from printing more currency?


>>25432471
My guess is a liquidity crisis, exacerbated by the sluggish transaction speed, is going to make it much worse than it otherwise would be. /biz/ will be pink for months to come

>>25432314
Right now around $1 trillion. In a decade $12.5 trillion.
>why
Because bitcoin is better gold and solves every problem of gold without losing any of the benefits of gold. And the market cap for surface gold today is $12.5 trillion, and will be higher in the future. Bitcoin eats share of the haven asset market. 67% of millennials polled said they thought it was a better safe haven than gold right now. Take the annual demand for gold and take 67% of the proportion of wealth owned by people under 40. There's your annual demand for bitcoin as a haven. And it's only going up
>why not eth etc
Nothing really, same relationship between gold, silver, platinum, diamonds etc.
>but others aren't up
Because they're fully realized. Gold charts go way back anon, have a look at them, gold rallied hard throughout history. I'm not talking about cyclical movement. What we have is a new sector of the economy and value is flowing into it. It's like a car underwater, then you crack a window.
And it isn't short sighted thinking at all. This is an observation of a huge macro trend across the entire economy that will play out over our lifetimes.

I don’t know, I just want ETH to have a rally during this bull run. Shit, everything else rallied, even fucking XRP had a rally to $0.91 before the SEC shit went down. What’s Ethereums excuse? With all the news about ETH futures contract, the release of stage one of 2.0, breaking key resistances, we should have moved a little bit by now. How does a Top 5 coin underperform so badly during a bull run???

>>25431837
It has as much value as people are ready to pay for it.

>>25431837
>what value, it is gold

The top 1% of holders own 90% of bitcoin. It’s basically valuable because the whales (most of whom include the CIA) are holding and not dumping. The bubble won’t pop unless it’s made illegal when fedcoin gets introduced. CIA are just bit by bit cashing out into their slush fund.

>>25432559
You think millennials generally know anything? They think it’s better than gold because it’s booming, as soon as it pops like in 2018 they’ll think it’s a scam. Btw Bitcoin is a scam.

>>25432649
This doesn't account for all the people holding in exchanges.

>>25431403
>>25431553
>>25431697
>>25431884
>>25431889
>>25432092

>>25432576
I guess after 4 years the buzz has just worn off

No excitement, no momentum

>>25432685
I'm a millennial, I am literally retarded, and I'm not selling my 0.05 until bitcoin is 10M

>>25431178
Not for a while. I hope you're like me and bought when it was under $10,000 because you're in for a wild ride if you did

>>25432576
Alts always lag behind BTC, you just have to wait a bit

What will happen when normies will stop buying BTC because it's too expensive? Will price keep growing? From physological perspective I think it might be an issue.

>>25432606
>doesn't know about industrial uses of gold
Even though the majority of the market cap is because people stupidly assign it value due to shiny, it still has some level of intrinsic value due to demand in several industrial applications (electronics manufacturing, chemistry, certain medical therapies, etc)

>>25432559
>Nothing really, same relationship between gold, silver, platinum, diamonds etc.
Except that all of those have applications beyond just people buying them as an inflation hedge. As I mention above, the majority of their price assignments are due to their perception as "precious", but they have varying prices between each other largely due to demand for things like diamond-tipped cutting equipment, platinum medical implants, electric vehicle components that use silver, etc

What's stopping somebody from creating a carbon copy of BTC (same exact protocol)? The answer is nothing. Does it not logically flow, then, that an exact copy crypto of BTC should act as a parasite sucking away some of the value assigned to original BTC once it reaches a critical mass of attention / adoption? I cannot make an exact replica of gold, nor silver, nor platinum. Diamonds you actually can make synthetically in labs, and this has had a noticeable negative impact on the "real" diamond market prices in the last few years

>>25432809
Enter, the middle eastern sovereign wealth funds. Those guys will buy and not give one shit about the price. Oil won’t be around forever

>>25432869
>What's stopping somebody from creating a carbon copy of BTC (same exact protocol)?
I thought that's what shitcoins are

>>25431178
I bought 15 shares of TSLA throughout the year and after making 3.5k profit, I also DCA BTC along the way but not nearly as much as I wanted to. Now I want to convert them to BTC. I'm I retarded or not?

>>25431178
Bitcoin will rugpull soon screencap this

>>25432559
>Because bitcoin is better gold and solves every problem of gold without losing any of the benefits of gold.

MONEY is a COMMODITY. Gold has a use case; it's an essential component to various industries, alongside it's physical properties.

BTC has no use case. You can't do anything with BTC; it does not generate anything.

It's use as a currency (it's intended use), is even impossible because of transaction fees

>>25432685
I don't care if they know nothing or everything, I care what they'll do. And how it trickles into other cohorts as all technological adoption does. The truth as well is that it's an absolute godsend to corporates and institutions who need a convenient shelter. The reason why fiat was created at all is because gold is a pain in the ass to move, secure, verify, and count. Problems solved.
>>25432869
>industrial values
Let's not pretend precious trades at industrial value fren. If gold traded just for shit like semiconductors it would be in line with copper. Even uranium, which is difficult to mine and store, but only has industrial value, trades way lower than gold.
>What's stopping somebody from creating a carbon copy of BTC (same exact protocol)?
Proof of work. An identical copy would literally be bitcoin, this is how a distributed blockchain works. You cannot create supply this way. A copy altered to any degree would have a shorter chain of work and be recognized instantly as a fraud.

Look at all the optimism and delusion in this thread; it's a clear sign that we are near the top. 80K? 150K? Are you guys actually this retarded? BTC is only at 32k right now cause the whales are playing a ruze and they're roping u faggots in ... just watch, you'll see a major crash and you can kiss your BTC goodbye into the 3K territory ... just like 2017

>>25431178
when ur mum closes her legs

>>25433137
Good, then I can buy one whole btc

>>25432791
>10M
kek

>>25433026
>MONEY is a COMMODITY.

AHAHAHHHAHAHHAHAHAHAHHAHAH

>>25432917
wouldn't do it. This thread is evidence for a bubble

>>25433026
> is even impossible because of transaction fees
yeah right that's why people are literally buying physical objects with bitcoin, right? retard
people are buying coffee, pizzas and apartments with btc

>>25433036
I think you misunderstand my hypothetical about making a BTC copycat. The point isn't to trick people into thinking it's literally BTC, so let's say it's called Fagcoin. The only difference is the name, protocol is the exact same as BTC. Sure, it has the disadvantage of being about a decade late to the game but in the long run that becomes a diminishing factor for the price arbitrage.

>Let's not pretend precious trades at industrial value fren
Who the fuck is saying this? I quite literally typed:
>"the majority of their price assignments are due to their perception as 'precious'"
The point being that if tomorrow all the world agreed that shiny is no longer good and forsakes gold/silver/platinum as "stores of value", the price will not go to zero because there will still be demand to use these in the applications I've mentioned. This is their "intrinsic value". The vast majority of the price of these metals is from speculative value, just as with BTC, but they are different from crypto in that they actually do have intrinsic value arising from non-speculative demand

>>25433026
Great then perhaps you can try justifying the price of gold today and how industrial demand makes it so. Use real numbers. You will discover soon that the demand for gold is primarily driven by its function as a haven asset.

>>25432791

savagely based

>>25433297
Well that's good at least if gold loses the value storage perception it won't go to actual zero, you'll only lose 99.9%
I know gold bugs really hate this but the convenience factor with respect to previously mentioned items (transportation, storage etc) is a value in itself.
Ok so you make fagcoin. How is this not different from metals again? Ie, metal prices should normalize someday because there are a lot of them that are scarce and hard to acquire.

>>25433267
Money is a commodity bro. Its the most fungible one in fact.

>>25433458
>How is this not different from metals again?
Differing levels of supply and it's still finite. I also cannot create copies of gold at my whim.

What if I make 50 versions of fagcoin that are all the exact same protocol as BTC? The convenience factor you mention holds just as true for Fagcoin and all its variants as it does for BTC, so why would BTC be worth more?

>>25433297
ultra-brainlet boomer take, lmao
holy shit what are you even doing here, you're 10 years late to the party boomer
just kys, go work for your 40$ an hour or something

>>25432576
ETH went from $140 to $770. That's 5.5x you moron. Bitcoin did 4.3x over the last 12 months, idiot.

>>25433513
You could do that, no one would buy it from you
There is no reason for gold to trade higher than other metals that are hard to mine, other than the value perception, which is born from its ancient heritage as money. And it's the same old shit with the first cryptocurrency compared to newcomers.

I swear everytime bitcoin moves into higher echelons stupid fucking mouthbreathers crawl out of their woodwork to FUD the OG Coin and they show such mental gymnastics and negative IQ that i feel incredibly sad knowing that their stupidity annoys their immediate surroundings

>>25433036
Crypto is a digital stock that pays no dividend.

>>25433297
I actually think you're right. BTC will be replaced by alt(s). Market dominance doesn't indicate this at the moment (quite the opposite), but it's bound to happen.

>>25433623
>no one would buy it from you
Why not?

Fagcoin is literally all the advantages of BTC that give it value, the only difference is the catch up game it would need to play in getting hype on board. With the insane amount of money going into BTC, I don't think it would be hard at all for a literal copycat to convince people to buy in. If nobody buys it despite having all the same technical advantages supposedly offered by BTC, I feel 100% confident that this is a completely speculative bubble

>>25433711
The only posibility is meme coin like doge. Normies don't take crypto seriously, mainly because you can't use it to purchase anything. Well, apart from Bitcoin which is accepted in some places.

>>25433756
Give it a try and find out. We've already had this countless times. Look at how bitcoin cash is doing today. It didn't go to zero, people do buy shitcoins, what happens instead is they settle at an equilibrium market share.

>>25432551
the rate of inflation is probably more at 5%, but the fed downplays it so they can supply more money and buy more assets. The other anon you were talking to is a retard though if they're implying inflation is 50% in the US every year

>>25431178
120k

>>25434011
450k

>>25433850
Exactly my point. Bitcoin, despite being quite garbage technically when compared to purpose-made alts like ETH, is the most popular crypto around. The rally is driven by speculative fervor, as evidenced by alts being mostly left in the dust. If I make Fagcoin, I know 100% that it would not go and steal half of BTC's market cap because that implies that people holding crypto will rationally see "ah, this is an exact copy of the thing I have but that's selling at $1 per coin. I can literally make millions by taking advantage of this arbitrage". The people holding and buying crypto right now are, in general, not rational players in the market and thus I don't think they would ever do this.

>>25433919
I can absolutely buy a 5% annual inflation rate, especially in recent years and probably in the years to come. CPI is a pretty shit way at measuring inflation, but the government acts like it's the absolute true rate and you're retarded if you suggest otherwise. Boomers keep acting like there aren't going to be any inflationary consequences of the COVID fall out while zoomers keep acting like the USD is about to hyperinflate like the bolivar.

>>25432791
buy low and sell low kek

>>25432791
holy shit, the bubble will pop faster then expected

>>25431178
When half the board tries to cash out but these wonderful and trustworthy companies who hold their money tell them to fuck off and run away with the cash.

Can't wait for the day and I'll laugh my ass of.

>>25432791
Based schizo

>>25432551
yes, the aggregate prices of goods have risen FAR more than 2% annually.

CPI figures are completely manipulated to give the FED the excuse to print more and more. CPI includes retarded shit like magazines (which no one buys nowadays) because they know that will pull the average down. For essential items like food and utilities inflation is running at around 10% annually. To claim otherwise is pure cope

The 'aggregate' figure does not in anyway respresent a basket of spending for a typical US citizen in 2020

>>25433323
That's not his point. His point is that it has use outside of being a haven asset.

>>25431178
sorry you're priced out anon.
>it won't

>>25434294
>FAR more
How much?

>>25431178
it's going to be fucking devestating during the retrace

>>25434056
looks like you agree anyway kek

Inflation is low at the moment because the velocity of money has dropped to zero, but as soon as velocity returns (which it will) we will get hyperinflation. Mike maloney does a great video explaining it in his 'hidden secrets of money' series on youtube - I think its episode 6

>>25433278
Cool, I'll hold the stocks for now, do you think it's still a good idea to continue DCA'ing at the current prices though? The FOMO is getting real.

March 2022

>>25434345
I'd estimate anywhere between 8% and 12%, its not like you can nail down an exact fugure, but 2% is definitely bullshit

>>25434056
Bitcoin's value is derived from:

>Its hash rate, it is backed by the enormous computing power that was put into securing each block
>network effect (metcalfes law)
>scarcity

>>25432685
Which part is a scam? It's federally regulated, you can use it to buy and sell things, send it to people and exchange it for other currencies. You can buy Nd sell it through exchanges that insure your stored assets. Coins I put in a digital wallet will be there forever. The price is volatile, but as someone else said, it's a new asset that hasn't hit its predicted market cap yet, so it's expected.

If the only "scam" part is the fact that it has no intrinsic value, you better take it up with the fed, you've been getting scammed all your life.

Bubble?

>>25432559
Can you answer the question again but not mention gold?

>>25434838
Good post

>>25434838
what happens the next 30 years?

>>25431178
Boomers are starting to treat it like a precious metal/reserve to buy in case of recession. Companies are announcing they're buying x bajillion dollars worth of bitcoin.

>>25434838
God dammit and I was on nofap for 7 months

>>25433458
It wouldn't lose 99% of it's value. Half the demand comes from jewelry.
https://www.statista.com/statistics/299609/gold-demand-by-industry-sector-share/

>>25434962
Good
But what does that have to do with btc

>>25432131
>Because we know this asset is going to hold a stable value against inflation
Speculative trash is not stable

>>25431178
All money is a bubble.

Sorry fag, you're late to the party.

Based retards like me will never sell and just hodl stake it becoming lifetime funded neets.

>>25431178
I just cashed out a 10 % of my btc to put it in blue chips (msci world, msci em, qqq).

ama

>>25432314
Yeah stock prices booming fren so is real estate my home up 50% on the year. All assets booming while government gives everyone $600 but stocks already up 200% kek the mania and panic to get rid of dollars is the bubble. More trillions will be printed more lockdowns. Covid isn’t stronger than ever and surging. 40% of all USD in existed airdropped into M1. are you thinking clearly anon.

Would buying 10% btc and bandwagoning be a smartmove?

>>25435602
Isn't em mostly corrupt china
Spdr qqq and world might be a better choice, although the nasdaq seems to consistently outperform the sp500
Perhsps because they don't include financial companies

>>25432808
I bought them when they were $10 each, but my friends convinced me that BitCoin was bullshit, so I went on The Silk Road and spent about 200 coins on LSD

>>25432042
>uses CPI as inflation measure
ngmi

>>25431178
it won't

>>25435892
>All the bitcoins that the Silk Road made are now held by the feds.

I know cia controls the drug trade but it's like poetry.

>>25431837
God this fud is staler than the xmas pie sitting in my fridge

>>25436300
I mean this was so long ago that I'm beyond the five year statute of limitations, and I was super paranoid then, using tumblers etc, so I'm not worried. But still, I would be a millionaire if I wasn't a doubting thomas weednigger

>>25431981
>we're gonna need a bigger y-axis

>>25431837
Fucking stupid. You don't even belong here.

>>25431178
Which one of you niggas told me that bitcoin would never get past $23K? SHOW YOURSELF RIGHT FUCKING NOW.

>>25432685
And what do you know? You don't know shit.
Same as everybody else.
You don't know shit.
Only difference is that you think you do.
But you don't.

>>25431403
fpbp

i have enough ETH for half a bitcoin. should i trade ??

>>25434315
Which is irrelevant.

>>25431837
/r/buttcoin tier post

>>25431178
It’s a new paradigm. There is no bubble.

>>25432042
Have a look at real estate you fucking brainlet.

>>25431981
>Using an inverse BTC/USD chart
you people are delusional

I track these threads, once the "its not a bubble you nigger" fuckers outnumber the "when will this bubble burst" normies I know when to liquidate