/biz/ - Business & Finance

Baby’s first correction.

>>25836079
it won't die immediately
but in 5-10 years it will be gone

>>25835976
Its utility is that it's the perfect utility for store of value <:^)

>>25836161
No.
That would be a coin that was backed by several assets with real tangible value.

>>25835976
I'm sorry you were so late but you had 12 years

>>25836131
No it won't. Bitcoin is trashy but its still bitcoin. It's the same reason why McDonalds is still popular although its garbage. Bitcoin will never be surpassed by another crypto- EVER

>>25835976
being the name brand, they can just copy better technology and implement it into bitcoin before alts overtake it

>>25836232
You will be surprised in a couple of years. But it is going to be phased out eventually.

>>25836079
i don't know how to break this to you but loosing almost a quarter of your value in 24 hours is not a "correction" it's a crash.

the Bitcoin brand is tarnished in the eyes of western investors and once chinks and pajeets realize its no longer useful for syphoning ameribux they too will dump forever.

>>25836246
Does not matter. It has not utility. Thus it should not have any value.

Much better forms of money can be (and have been) invented.

>>25835976
tech illiterate. users keep growing years after years

>>25836302
You expect it to be replaced by CBDCs?

>>25836232
It will eventually be surpassed by ETH

>>25836378
CBDCs are better. Because they are backed by the government. However, also also think regular currencies will be phased out.

Projects like reserve, makerdao etc is the future when it comes to creating a medium of exchange.

>>25836398
ETH seems to be incredibly stable until days like today. I think if anything has a chance of surpassing Bitcoin it will more likely be XMR but I highly doubt it

>>25836348
babby's first correction

daily reminder we'll bottom at 20-25k, if you don't buy there you're a fucking moron

>>25836161
It has no real value so it can’t be a store of value, what you are asking is basically for investors to pretend Bitcoin is valuable, while real investing is based on identifying undervalued useful assets, you want investors to take something unuseful and pretend it is useful and valuable, that is just folly, pure folly.

>>25835976
Shit shot up to $41k in a matter of days and you didn't think some people who have been playing the game far longer than you would cash in while the gains were available?

>>25836232
>Comparing a unhealthy ameriburger's fast food chain to a technology
You ain't gonna make it bro.

>>25836531
A lot of anons won’t because theres so many shills and genuine retards here that they’ll think its a bad idea

>>25835976
>buy my premined VC scams sirs
No

>>25836603
way she goes, not everyone has the stomach to make it in this market

>>25836595
I'm not comparing it to technology I'm comparing it to a financial currency you fucking moron.

>>25836348
Spotted the newfag.

>>25835976
>I am 100% confident that it will die
i'm 100% confident you will die before bitcoin
>Bitcoin is centralized and bad tech
shitcoiner bla bla
>backed by nothing
and that's the best thing about it
>gives no utility to society
you are retarded sorry
>creates green house gas emissions
on the contrary

>>25836624
The tech is way more decentralized + faster + it does everything bitcoin does + it does literally everything because of Turing complete contracts.
> premine
we are not in 2013 anymore

>>25836568
>btc at $1
>It has no real value so it can’t be a store of value
>btc at $10
>It has no real value so it can’t be a store of value
>btc at $100
>It has no real value so it can’t be a store of value
>btc at $1,000
>It has no real value so it can’t be a store of value
>btc at $5,000
>It has no real value so it can’t be a store of value
>btc at $10,000
>It has no real value so it can’t be a store of value
>btc at $15,000
>It has no real value so it can’t be a store of value
>btc at $20,000
>It has no real value so it can’t be a store of value
>btc at $25,000
>It has no real value so it can’t be a store of value
>btc at $30,000
>It has no real value so it can’t be a store of value ((YOU) ARE HERE)
>btc at $40,000
>It has no real value so it can’t be a store of value
>btc at $50,000
>It has no real value so it can’t be a store of value
>btc at $100,000
>It has no real value so it can’t be a store of value

>>25835976
cope

>>25836843
>>25836861
people are stupid, that's why
but they will find out what bitcoin really is
in a couple of years
we might see it starting soon

>>25836426
>CBDCs are better. Because they are backed by the government.
Why does this matter
>backed by the government
Literally means nothing
Translated form: They can print it but I can't
How about a currency no one can print

>>25836990
the government can force businesses to accept their currency
so you are guaranteed that you can use the money to buy stuff in stores

but yes, regular currencies are also shit

the currencies of the future will be backed by real tangible value

>>25836348
So... babby's first correction.

>>25835976
In my opinion its more likely that BTC is just migrated to another chain if the main chain doesnt succeed. The killer app for BTC is that theres only 21 million, the economics are known and are solidified in a large base of users, and theres already a lot of money there. Its hard to kill something like that. Either BTC natively has chain upgrades or L2s that solve these problems or it gets migrated. Either way, its too popular at this point for it to go away altogether.

>>25836348
You do know that stocks are artificially prevented from crashing too far whereas crypto crashes organically and honestly right?

>>25835976
Maybe btc is meant to be a normie trap like xrp and the alt coins have the golden bullrun. Tech will win in the end

>>25835976
>creates green house gas emissions.
No, the energy sector does that.

>>25837199
You need to think about this deeply to realize that 21 million is not enough to become the killer app of the 21th century. It works right now. But after a while it will collapse.

Migration won't help unless satoshi invents some new tech that surpasses the other protocols and that runs smart contracts where BTC is the base currency.

>>25837258
that's exactly what it is

>>25837258
BTC is the insitutional boomer trap, XRP, LTC and DOGE are the normie traps, NANO reddit trap

Coins with actual value and usescases will 100% outperform Bitcoin in the long run

>>25837624
Who does ETH trap?

>>25836843
I'm sure the Dutch and their Tulips had similar thoughts.

>>25836568
You’re a moron. The value of BTC is being able to cuck globohomo And circumvent their financial institutions. If some third worlder wants to start a business, they wouldn’t be able to get a bank account, but they can be paid in crypto.

>>25838324
Great... empower the third world... like they haven't been given enough.

>>25838375
Just making a point. But globohomo has little to no influence on the bitcoin network and that pisses them off.

>>25836079
Cope

why the fuck is RH not letting me buy any crypto right now?

>>25837678
pseudointellectuals

>>25836531
25k? I think it’ll bottom out at 30. What makes you think that anon?

>>25835976
>creates green house gas emissions.
This is basically stimulus. Makes all that renewable energy profitable instead of government subsidies.

>>25835976
i wonder whats the new floor is going to be

>>25836246
They really can't. It'll just end up forking again and again and again. It's embarrassing.

>>25835976
>11 posts by this id
You're a quarter of this thread fuck off you 16 year old fag let the adults discuss

I want all the newfags to get the fuck out, threads on /biz/ these days read like Bitcoin threads on /g/ in 2013 with the same old asinine arguments. If you had crypto so much just leave this board.

The people who say Bitcoin has no real value do not see that the value in Bitcoin is a massive “fuck you” directed at banks, the system and the powers that be and any sort of financial middlemen

>>25838324
That is the blue pilled narrative. Like believing Trump was not part of the swamp. Crypto currency is very much part of kike agenda and they control it 100% to their advantage. 4th industrial revolution is their plan, and like every industrial revolution we turn more and more into economic units with less freedom. This is the plan, and crypto being presented as something against the establishment is how they get the idiot populace to accept it, believing they are winning when really only (((they))) win. It is very likley lots of us will make it but due to bad social credit will be shut off from the system and never be able to cash out, admist the 4th industrial revolution.

>>25838951
Crypto is the next generation of the Internet, the stateful Internet. Bitcoin was like the first email app. And yes, it will die. Just like altavista did.

>>25838993
>wew ID
Go back polfag

>>25837420
it may not work out in the maxi vision of it being the end all be all solution for everything. But I think it works just fine for the idea of a store of value. At the end of the day its all just about what percent of the network you have, not necessarily how many coins there are. The amount just helps you quickly size up what percent of the network you own.

>>25835976
> backed by nothing, gives no utility to society, creates green house gas emissions.

So BTC = NEETs.

>>25837678
It does have a use case, the challenges eth can face are eth killers

I'm not glad it's dead, but I'm glad it's gone.

>>25836302
I've read the same thing a couple years ago. Bitcoin is so far ahead in security and confidence there's really no competition.

>>25835976
That's what everyone thinks for the first year in crypto until they slowly figure out how wrong they are.

>>25835976

>>25836595
Complete fool who missed the point

>>25839417
Answer the criticism or admit you don't know squat about crypto followed by a quick shutting the fuck up

>>25839533
Use case doesn't matter as much as you think in this market, you dumb faggot.

>>25839221
It is based on the idea that it is valuable. It is not enough. You need to actually be able to exchange your bitcoins for something that is valuable. Which works as long as people accept it.

Fiat is sort of a scam. So that is why Bitcoin works. Because it is better than fiat in terms of inflation. That is not enough of a use case compared to other theoretical stores of value.

It might live on as a collectible item. But that would also means it has to collapse first.

>>25838304
Tulips can be grown by the millions. Buttcoin can't.

>>25836531
It's going into 4 figures again. High 9000s. Obviously not in the extreme short term. It will jump back up to ~$38k, tards will buy it up thinking its about to moon, then it'll drop down to $30k, then $36k, then $25k, etc.

>>25839631
>collectible item
It's not a physical object.

>>25835976
>Other projects will take its place, like Algorand for instance, or Avalanche
>anti-BTC thread is also shitcoin shill thread
Think about it logically. The only reason you have that retarded opinion is because you’re bagholding these alts and need to find ways of rationalising holding them instead of bitcoin.

>>25839594
Okay
Enjoy your fee market

>>25839533
What's the specific criticism?
Bitcoin is decentralized and uses cutting edge cryptographic tech, backed by the most secure network in the world, replaces middlemen, reduces corruption and increases individual sovereignty of everyone on the planet, driving force in green energy investment. It makes it profitable to create hydro dams in remote areas.

>>25836398
doubt it

Bitcoins are kinda like Runescape rares. am i right?

>Algorand
>better than HOLY BTC
The face of the shitcoiner.
Feels so good to be a maxi.
All aboard the boomer train.

Alt and shitcoiners are greedy, stupid cunts. Your "technology" has no value at all. You're piggybacking off the usage of Bitcoin alone. That's it. Bitcoin was a first mover as an internet currency and store of value and persists due to that, your little memes come and go and are 100% speculation.

>>25839913
>>25839915
newfags

>>25836232

>>25839866
Post your dam

>>25840144
https://www.youtube.com/watch?v=cPNEDq43OuI

>>25835976
How many times have we seen these threads over the years. KEK

>>25836722
>> Bitcoin is centralized and bad tech
> shitcoiner bla bla
>>25839866
> Bitcoin is decentralized
https://chainbulletin.com/bitcoin-mining-map/

>>25835976
Show how much you shorted or shut the fuck up

>>25840706
>shorting a manipulated pump and dump shitcoin

>>25835976
Ok cool OP
Better not buy then

>>25836348
>>25836348
no anon it's totally normal to lose a third of your value overnight, it's just like when I buy gold and the gold sellers start giving out links to the suicide helpline, bitcoin is the future!

>>25840884
You be better off in the long term buying projects like I mentioned, Algorand and Avalanche. In the short term Bitcoin might perform well.

>>25839962
Cope.

>>25840857
>100% certain that coin is going to zero
>doesn't put life savings on it

>>25835976
Bitcoin might die but if it does every other cryptocurrency will crash even harder.
Bitcoin is lacking stable ground but it's the least lacking compared to every other cryptocurrency.

>>25841084
Nope. Public blockchains will be around. The will basically replace governments.

>>25840640
>Bitcoin is decentralized
Yes. China is a big place with a lot of hydro dams. Nobody can effectively attack Bitcoin, many tried.
>but muh American propaganda
The only threat to Bitcoin like everything else is America. China is basically a powerless nation of peasant slaves doing forced labor for Americans.

>>25835976
BTC sucks balls. Its a ponzi scheme.

>>25841144
There are safe and secure protocols that are much faster than Bitcoin which cannot be attacked that does not require wasting energy.

>>25838499
it has already dipped under 30

>>25841139
Are you fucking stupid. This whole great reset is for more government control and central planning. Fuck you people are stupid. Bitcoin can be deemed worthless with one regulation by the central governments.

>>25835976
Does crypto have any real value? It seems like it's almost entirely propped up by speculation

>>25841217
Nope. The energy isn't wasted and you're opposing a system funding green energy infrastructure globally.
>Algorand and Avalanche
Irrelevant pos shitcoins.

>this time is different boys, trust me

>>25835976
Not this again.
>>25836079
Oh shit he is not even joking.

>>25841319
Crypto is just the next version of the Internet. The stateful Internet.
Yes. It has massive value and 10-20 years from now you will get where all this speculation is coming from.

>>25841319
>Does crypto have any real value?
Absolutely yes, but for this you have to understand what value is, and how BTC is created, and those are not learned in a bull market, but in the deepest depth of a bear market.

>>25841172
That's like saying stocks are a ponzi scheme since you are expecting that someone else is going to pay more for your shares in future.

>>25841380
>Irrelevant pos shitcoins.

Your face in 2 yrs.

OP is gay. Bitcoin and Ethereum are literally the only cryptos that matter.

>>25841647
You only believe that because you do not have the capacity to understand what I am saying, possibly years before it is happening. You need to think deeply about it and learn about the tech.

>>25840963
Oh my God you're such a retard
You're even beginning your own cognitive dissonance now
Why do you have to fight it?
You missed it when Bitcoin was cheaper, yes, but you've been given a 30% discount just now and it will likely consolidate further
Just jump on the train already and then you don't have to worry, you'll still be in 'early' like the internet in 1997
Stop betting on what might be the next pets.com just because you missed the first two waves of bitcoin bubbles
Your regret is causing you to seek reparative action, stop it, you're only digging yourself a deeper hole in sats

>>25841774
Or maybe there is some truth to what I am saying, and maybe I know what I'm talking about, and maybe I am part of the industry.
I don't care personally about where BTC goes. I am just helping some anons out.

>>25841774
MUH STORE OF VALUE

MUH BITCOIN IS THE ONLY CYPTO IN THE ENTIRE WORLD WITH A HARD CAP ON SUPPLY

MUH FIRST MOVEMENT ADVANTAGE

You maxi fags really are retarded. Open your mind.

>>25841748
OP I don't think you realize how many people have come before you and said the same thing
We've heard it already, they were always wrong, it's all so tiresome
Bitcoin is the one that grows in the long term and there's still a huge upside, enough to make it, that's what you don't understand or you aren't seeing this "years before it is happening"

>>25836232
Explain how eth with fee burn and no dumps from miners isn't going to the first place? It's the most adopted crypto.
It would be deflationary today with the fee burn, even with mining.

>>25839898
this is the reason im possibly more confident in bitcoin than others. based runescape

>>25841774
Bitcoin's primary utility is as a currency to buy into other crypto projects with. I think the only other time I need to use it is buying a 4chan pass

>>25836595
Bruh...

>>25839653
To some degree they can but yeah that comparission is rather stupid.

>>25838490
Kek

>>25839719
This is what i believe the most.

>>25841901
You need to open your mind shitcoiner, you're still on stage 2

>>25841900
Or maybe you're deluded into thinking your shitcoin is special because it has a new protocol or technology that "improves" what bitcoin can do but without being even half as secure, long lived, or adopted by the broader community
Bitcoin's value is in its CONSENSUS
A consensus or tradition gets more valuable the longer it has been working, and bitcoin works better today than it did even 4 years ago
We've seen this shit all before

Don't buy this dip

>>25842170
No it's not?
You can just say things but that doesn't make them true
It's primary use is what people primarily use it for, which right now is a digital gold / store of value number go up thing

>>25842419
>No it's not?
>You can just say things but that doesn't make them true
>It's primary use is what people primarily use it for, which right now is a digital gold / store of value number go up thing
People are not storing their value in bitcoin because they are afraid of an oppressive government ceasing their assets, they are putting in $1000 to speculate on the value

>>25842465
>are not storing their value in bitcoin because they are afraid of an oppressive government ceasing their assets
Precisely. Now you're getting it
And in what way is that a bad thing for Bitcoin?
They're putting it there because right now the yield on a 10Y treasury bond is 1.12% (lol)
Why wouldn't they put it into Bitcoin instead and take the chance that it would do better than 2% ROI for the next 10 years?

>>25842808
>And in what way is that a bad thing for Bitcoin?
It's not right now but it's not because bitcoin has utility as a digital gold. You are conflating people speculating on the price with it being in demand for another purpose. It does have another purpose - pseudo-illicit transactions and to buy into other crypto projects.

There are cryptos that are objectively superior to bitcoin but don't have the same infrastructure and general understanding. The longer time goes on the less attractive bitcoin is because it's inherently limited

anyone got that yearly profit chart by month?

I'm pretty sure January is always the worst month on average

I'm 100% convinced Bitcoin is necessary for government to legitimize and show the need for their centralized national cryptocurrencies. So it will be kept around for quite a bit longer.

>>25836348
Baby's first correction

Remember kids: transparent blockchains are dangerous.

>>25843355
Thought it was September

>>25835976
please stop shilling ALGO, I am still buying

>>25843615
Redpill me on ALGO

> 4 hours and transaction isn't confirmed yet.

I thought this was supposed to be the future.

>>25836348
Now I get that babby's first correction made babby emotional, but babby didn't sell, right?

>>25836426
>Projects like reserve, makerdao etc is the future when it comes to creating a medium of exchange.
Mediums of exchange are dime a dozen. Decentralized store of value is the grand price, there can only be one, and no project is even good at it compared to Bitcoin.

>>25837074
>the currencies of the future will be backed by real tangible value
> in the future, all trade will be barter exchanging wPigs for wEggs.

>>25836232
If brand recognition has any impact on the matter, bitcoin will always remain the dominant crypto in the world. Normies will never be able to understand what the fuck ethereum or XRP are, nevermind replace bitcoin with them.

>>25839190
>Crypto is the next generation of the Internet, the stateful Internet.
The stateful Internet was Web 2.0. Remember the revolution that was the ability to leave a message in someone's "guestbook"? That's state.

>>25836624
"Premised" is what's keeping the devs in crypto. ICOs are shit and no one wants to work full time for nothing

I spoke with a PhD in economics and he explained me that bitcoin is not a good investment as the value will drop in the future because of economies of scale of mining hardware and energy prices. Use that information as you will

>>25836348
So new and hands so weak

>>25835976
Bitcoin has collectors value now. Like a limited batch of whisky or whatever. It can go down a lot but won't be zero.

>>25841217
>There are safe and secure protocols that are much faster than Bitcoin
You talk like you think "safe" and "secure" are binary check marks in a feature list. There is no protocols that are AS safe and secure as Bitcoin while also being faster than Bitcoin. Prove me wrong.

>>25841900
>maybe I know what I'm talking about
You don't

> maybe I am part of the industry
You're not.

>>25835976
>>25836843
I pulled 10K profit out when it started falling and will still have a nice profit over what I paid for them at bottom.

Before electricity, gold was valued for years because "shiny, yellow, soft metal" It had no other fucking purpose or worth,

Gemstones,,,, literally "muh purty rocks that ladies like". Even fucking cabochons were high value because they were pretty. The crown jewels of England are fucking sandpaper grit.

A thing is worth whatever someone will pay for it. Whatever the reason. In the 70's some asshole made a mint selling pet rocks. They are collectible today and have a value, like stupid ass dolls from movies, and other collectibles. People buy them because they want to, and to store value.
Bitcoin just as much value as a fucking red rock, and a finite supply. As long as people want them, and recognize them as having value .... they do. This post did nothing to affect the price of rubies, so like you, my opinion means jack shit to the normie consumer.

>>25835976

>>25842419
>You need to open your mind shitcoiner, you're still on stage 2
No rationale argument about why BTC needs to be THE store of value, when it's all just programmable money which can be coded with a hard cap.

Okay.

>>25845827
>No rationale argument about why BTC needs to be THE store of value
It's the only protocol that takes security as seriously as is required for a store of value.

At the very height of the South Sea Bubble in 1720, the South Sea Trading company was paying people to buy their stocks and pump the price. The market cap on this bubble was the entire worth of the British Empire in 1720.
This is exactly what is happening with Tether and Bitcoin. Tether is paying the exchanges to buy bitcoin and then backing their tether with the bitcoin they have bought. It's all funny money, its hollow, a bubble, and it's popping.

>>25835976
ahem tink tink tink
Welcome to 4chan you poor seething nocoiner plebbit losers.
There is epic unbreakable buy support at the 200WMA. It's currently at $8k and rising.
This support will never be definitively broken.
It will continue rising as the supply of USD grows to infinity while the supply of BTC is limited.
BTC will never drop below $10k ever again.

>>25835976
>Other projects will take its place, like Algorand for instance, or Avalanche.
>hypercentralized supply vc scam shitcoins will take the the place of btc
just fucking kys already

>>25845449
Surely it will become MORE valuable as mining decreases because it is less profitable?

>>25845900

Kek - clueless.

>>25845969
No, but its going to come down hard to it's true value when the Tether court documents are published.

>>25845969
at 22k there is microstrategy convertible senior notes buy
morgan stanley just bough 10% of mstr
it will never go below 22k, they literally have a real bank behind with infinite money now

>>25835976
You have to go back (to Reddit you fag)

>>25846124
ahem tink tink tink. Listen here you poor nocoiner Tether conspiritard.
The supplies of USDC and BUSD have grown at a faster % rate than USDT. They are both issued by heavily regulated USA companies.
This proves that there has been a huge demand for stablecoins.
The demand would push the USDT price above $1 if Tether stopped printing.
The supply of issued USDT is a liability on Tether's balance sheet. They are intrinsically short USD and long reserve assets. This has been a good position since March.
For exchanges, market-makers, and investors with USD-denominated liabilities, it is historically easy to remain solvent in this macro environment.

>>25845449
well tell him to quit his PHD because he clearly doesnt understand that if mining slows down so does the speed of the difficulty increase. fucking moron.

>>25846927
I'm not a no coiner, I took my profits at $40k, and I still have my 1BTC that I'm never, ever, selling. I just have legitimate concerns that the asset price of BTC is inflated due to fake buying pressure from the con artists at Tether.

>>25836232
>he doesn't know about the xrp

>>25846993
Tether cannot print USDT and buy BTC with it unless there is real demand for USDT.
If they flooded the market with USDT that nobody is demanding, the price would crash below $1.
Tether does not have a magic money printer that can break the law of supply and demand. That's retarded.

>>25845449
Bitcoin will be pos just like eth2, your phd guy is an idiot

>>25835976
midwit

>>25836568
I've identified a useful asset that is undervalued. Its utility is that is that I can sell it for more than I paid for it, and it's undervalued for this same reason. Its bitcoin.

>>25838775
>NOOOOOOOO NOT MY POSTERINOS, YOU CANT JUST HECKIN NOT LEAVE (1)

>>25846993
>I just have legitimate concerns
Hark children, the call of the lesser spotted bootlicker in its natural environment, waiting for its pat on the head