/biz/ - Business & Finance

>>26949456
>What is the financial backbone for crypto?
Do you really ned to fucking ask this after yesterday? The financial backbone is that it's a Monetary system that is not controlled by wallstreet and the traditional market is manipulated and controlled as fuck

>>26949934
Yes, I do you fucking degenerate. It's a monetary system, yes, but what is it's value based on? Even if it's not controlled by wallstreet and the other standard manipulations, that doesn't mean it isn't or won't be manipulated by other players. The fact that we can affect the worth of a cryptocurrency means that, inevitably, something can manipulate it.

>>26950640

buy bitcoin. not that hard wtf. Do some reading, listen to some smart people. Bitcoin is just starting.

Pic related

>>26950640
>The fact that we can affect the worth of a cryptocurrency means that, inevitably, something can manipulate it.

That's called a free market you fucking tard. And yesterday they showed us crypto is the only free market in the world

>>26951811
>That's called a free market you fucking tard. And yesterday they showed us crypto is the only free market in the world

>2021
>Thinking anything is a free market

>>26949456
No one knows how it fits into the economy. That is why you can't get a straight anwer.
When you buy you are not investing, you are speculating.
That speculation has paid off time and time again, but we are no closer to understanding how it all fits.
Perhaps the fallout from memestocks going apeshit will make it clearer.
Also anon, you are conditioned to believe that the financial system is a well tuned regulated system that works as designed. It is not, it is a series of complex business deals with the express purpose of MAXIMISING wealth generation legal and illegaly. It is no less absurd than crypto.

Open your eyes anon

>>26950640
>Yes, I do you fucking degenerate
this attitude right here is why you're missing the trains.
You're thinking that you're too rationally, when in reality your understanding of the world as it is, sucks.

You don't understand shit. This is why you're poor.

The value behind a cryptocurrency is
>the blockchain (transparent, completely auditable transactions)
>the utility of a given use case (uniswap powers an exchange, for example)
>absolute fungibility (I can use crypto to buy anything that takes a card processor, which could also be replaced by bitcoin, and with something like BISQ convert it into cash within 1 minute to 4 days)

You don't understand crypto, you aren't a general authority, on anything. Stop pretending to yourself that you are, and you'll finally stop doing the first part of dunning kreuger and can finally move onto the second.

Stocks are also easily understandable, as are options trading on those stocks. I think stock goes up, then Buy calls or Sell puts, I think stock goes down, sell calls = buy puts.
calls are for low capital, puts are for high capital; buys are for exercising (meaning make the thing happen), sells are for making money up front (for risk). Calls make money when in the money, puts make money when out the money. Same shit all around, different use cases. Very fucking simple, monkey level simple. My 10 year old brother made your salary for lunch simple (no shit he made a great call with Silver and I made 60 grand, so probably 2OP salaries)

YOU, motherfucker. YOU make this hard on you. Not the market, or the "stupid degenerates," YOU. YOU ARE YOUR OWN PROBLEM FAGGOT WAKE THE FUCK UP.

Now fucking help yourself or kill yourself, both would make me happy since you'd stop being such a colossal fucking faggot.

>>26949456
i'm taking the dive, i got tired of seeing shit like GME and BTC rolling by and i decided to join in.

>>26949456
>didn't sleep on doge
>finally making profits
>set a sell 'limit' order just to be safe
>robiinhood lets you set sell limit orders under the market price
>instantly sell half my doge for below market price
>thought i was setting a stop limit order
fml

>>26953588
Bruh it's a limit order and you set the limit low what do you expect?

>>26953588
they did the same shit to me, set at c when it hit 4c somehow instantly it sold at 2c. what the flying fuck.

>>26949456
>What is the financial backbone for crypto?

Nothing. Just like real money.
Unlike real money though, niggers can't just randomly decide to print more without mining it.

>>26953588
I'm starting out and scared shitless of making a mistake like that

>>26953744
i explained in the original post. i didn't expect to be able to sell for under market price, i expected only to sell when it reached that amount, which i suppose is technically not a sell limit order.

>>26954185
it only cost me a few dollars and i learned a valuable lesson

>>26952611
Yes
It's the point of crypto you fucking tard. It's the sole reason why it was invented.
Stupid fucking dumbass

>>26949456
>Slept on GME (but honestly, who could blame me up until hedgecucks vs /biz/|r/wsb)
The dd behind GME was posted endlessly months ago. You missed the boat because you ignored it. You are willingly poor.

>>26952611
see this? This right here. This keeps you poor.

NO SHIT SHERLOCK NOBODY FUCKING CARES. NO ONE CARES FAG, YES ITS FUCKED OUR COUNTRY IS DEAD A CHILD TOUCHER AND BLOWJOB FOR PROMO RUN THE COUNTRY NO ONE CARES

Get this through your head: ZOG is real, no one cares. Epstein's alive, no one cares. The frogs do in fact, YES, THEY PROVABLY DO IN FACT TURN THE FROGS GAY.

NO.
ONE.
CARES.

Your redpills make you nothing. They save none of your soul.

Your cash however can. So fucking use it, save every fucking dollar you can, and get unpoor.

Or stay poor.

But please never talk about how fucking ascended of a redpilled sperg you are ever the fuck again.

because, and I know you didn't read this enough:

NOBODY
FUCKING
CARES
FAGGOT

Hope that helped.

>>26949456
I hope you get into XLM. ti's still early

>>26954678
>it's still early
it was early in 2017

>>26949456
If you looked at GME and saw the short % back in December, that's on you. I never have insights into the moon missions that happen (missed TSLA), but this one was just so obvious lol.

>>26954200
yeah, it's a limit order and your position closed the way you asked it to. I don't understand why you're confused over that.

Don't put limit orders on crypto if you expect the top's above it my guy. Dunno what to say. Sorry for your (not) loss, though, may you see profits tomorrow.

>>26949456
Money is overrated, when they finally implement mandatory citizen coins lodged into your wrist or whatever, you are going to have to fight, if you want to be free.

>>26953234
>itt someone going off because degenerate's their trigger word
I asked a question, got a stupid answer. The only actual answers I got in this thread are
>>26952812
and your own response, but only a fraction of your response because you were so vehemently buttmad. I didn't ask shit about stocks. I said nothing about stocks. I asked about the substantiated value and stability of cryptocurrencies. But go off. I'll live my life, you'll live yours, but I sit here having a chuckle while you're apparently blowing a vessel over your trigger word.


>>26954576
>>26954743
Words are words, trains are trains, I'll admit it was my bad for not jumping the gun on the slim chance people actually pulled through, but you have to admit, sticking value to a memetrain is next to impossible because the odds of it ever leaving the station is wholly dependent on how much people believe in it. There's a reason why the market's blowing itself apart rn.

>>26955459

Holy shit - you're an absolute retard LOL no wonder you've missed everything and will continue to sit on the sidelines. You honestly think you're the smartest guy in the room.

Cya bud. Good luck. You're NGMI

>>26955459
Read my response again
Nowhere was I butthurt, you are just searching for the 'perfect' answer which will never arrive. You are on a Mauritian macrame forum and you expect people who post frogs all day to 'convince' you of the utility/backing of crypto.

There is no financial backbone beyond a. retail speculation, b. wholesale speculation.
That is fucking it.

>>26954790
i was confused because i was thinking of a stop loss.

>>26955907
I remember people like him back in college. Leans back in his chair and snarks at the professor because he knows better.

>>26952611
This mentality is the reason why you'll always miss out. Fuck off nigger and stay poor, we're full. Don't complain when you eat the bugs

>>26955907
Not even a matter of thinking I'm the smartest guy in the room. Asking questions on the matter of risk management with the intents to get an answer.
>Look at this retard asking questions
Logistics and statistics state that nothing is a get-rich-quick scheme without exceptional risk, which most faggots on this site shill. The odds of putting in 1000 and pulling out with 10000 are inordinately low, and drop the higher they go, but to this day people are still dumping and shilling shit in a circle. Skepticism is a valid response. Realistically, very few things that pop up here and on the other side actually lift off as people shill they will, otherwise the list wouldn't be accountable on one or two hands over a fucking decade.

>>26955984
>Now fucking help yourself or kill yourself, both would make me happy since you'd stop being such a colossal fucking faggot.

As for the last two lines, that's all I wanted for an answer.

>>26955459
Just stay fucking poor you 70 something IQlet

>>26957020
We get it guy, you have no ability to discern credible dd from Pajeet pyramid schemes. Work on that, or enjoy staying poor.

>>26957020

Buddy every industry, business, market is filled with high risk low reward. It’s your job to do the DUE DILIGENCE to inform yourself. I wouldn’t ask 4chan shit and put money on anything that’s posted here until I verified it myself. You’re a clown if you haven’t even read the whitepaper of Bitcoin because that shows how little you actually respect this market. You’d realize the only reason any of crypto exists is because of Bitcoin and that the end goal is to stack as much Bitcoin. But you want to have everything spelled out for you and not put in any effort while retorting with some pseudo-logic rational. Again, you’re NGMI