/biz/ - Business & Finance

Lol

>>28875357
>Schiff is bullish
That's the sell signal

oh god you can visualize the tears coming out of his eyes as he wrote this

normies will flood the market now
THE BULLRUN BEGINS NOW

>buying $50,000 bitcoin on the hope of a meagre double instead of buying basedhorse to get a 100x when silver doubles

>it's real
Jesus this guy is a like a parody of a retarded gold salesman

I used to listen to this guy like 5+ years ago about economics and he had pretty good takes. Why does he hate Bitcoin so much?

which one is more likely 100k or 0

>>28875357
100% Based Schiff

>>28875357
Damn Schiff is actually braindead

what a faggot. i want him to shutup finally

>>28875536
New thing bad.

>>28875551
$500k

>>28875536
He wants you to buy boomerrocks instead of boomercoins

>>28875357
What's really interesting to me is that gold isn't even that scarce. There are islands out there near the ring of fire with gold nuggets just laying around.
It really doesn't seem like boomers have a good idea of how much is actually available in the world.

>>28875357
schiffy stiffy uh

>>28875524
>100x when silver doubles
And then what? How will you sell your physical silver to capitalize on that pump? It can go 100x on paper, can YOU sell physical at 100x the same day? Fuck no

im not buying your gold old man, just die already so we can distribute your wealth into things that will advance the world

>>28875536
>Why does he hate Bitcoin so much?
He holds a lot of Bitcoin

>>28875357
THIS DUDE IS UNCLE OLDFAG ISNT HE?

>>28875689
read the picture. this is a mining company. when silver merely doubled in the 60s, the average silver penny junior went up 150x in price. no joke.

>>28875635
>islands out there near the ring of fire with gold nuggets just laying around
Where exactly though, can you give me the coordinates of those islands sir I need to make sure gold really is worthless

Will he ever shut the fuck up

>>28875517
>German
Sie Hurensohn

>>28875768
How does this squeeze paper silver? Why did you put "join the squeeze" on your picture?

>>28875536
>Why does he hate Bitcoin so much?
>dude's entire business is selling gold
gee anon, we may never know

>>28875524
I am LITERALLY TRYING to buy bayhorse but no matter what number of shares i put into the form, ameritrade is telling me i don't have enough spending power??? Is it because it's a pink sheet stock?

>>28875851
Nope, his business depends on ripping investors off through fees accrued managing their money. He can't shut up or his business implodes

>>28875536
He is still accumulating

>>28875357
soon 1 BTC > 1 KG of gold

Schiff might be the biggest cope overlord I have yet to witness. I mean he posts daily with seething remarks. Why the fuck is he so emotional about his shit? The first and the most important rule of investing which he doesn't follow.

Lets say you made it, you have $5M in the bank.

Would you put $5M in Bitcoin now knowing it could go to $10K or $1M in 5 years?

Or would you put it in gold knowing with 100% certainty it's going to be $5M when you open the vault again in 10 years?

He's addressing richfags, not poorfag cryptotards.

>>28876012
keep raising the bid or pay the ask, all you can do.

>>28875973
the banks are shorting miners, silverbugs (who buy physical) buy miners, if you squeeze miners you help the silver cause. especially miners which openly support silversqueeze. better for bayhorse to give silver bars as dividends to its retail shareholders than fail and get bought out by a miner that will supply the comex.

>>28875458
lol this

>>28876291
It's all a show for his gold-bug investors, his kid is balls deep in bitcoin, Schiff wins either way.

>>28875536
Because he makes his money selling gold custodial services.

>>28875536
old order good
new order bad (unless its the new world order by the old order then you're an antisemite if you object to it)

He was also the poster boy shill who did his best to discredit OWS a decade ago because people protesting against the Federal Reserve threatened the regime that made him a multi-millionaire. People like him dislike millennials and even further dislike millennials fighting for their own economic interests, be it through protests or through legitimate free market activities like crypto. More wealth for millennials means less wealth for boomers because wealth is a zero sum game. Which is why boomers universally oppose bitcoin.

>>28875357
I want to smack his brain desu. Imagine being this fucking stupid.

>>28875536
he hates it so much that he's accepting it on his website

>>28876291
most people that seem so against bitcoin always have money in it
remember Musk saying bitcoin was a scam just 3 months ago and it turns out tesla had 1.5bil of it.
FUDders are always holders

>>28875357
I sold my golden coins because of this clown, went all in on BTC and ETH, never looked back. Fucking precious metals meme had me fooled for a year, missed out on so many gains.

>>28875536
Because he is in the gold business. Duh

>>28875458
Wrong. At $5k Peter said “it could go to $10k. It could go to $20k. But ultimately it’s going to zero”

>>28876655
>Which is why boomers universally oppose bitcoin.

My parents are in their 60s and own Bitcoin and they believe in it and are all autistic about their cold storage.

>>28875357
Peter knows

>>28876777
it is going to zero. the second the comex defaults that's it, all fiat gains are priced in silver, not fiat. if silver is $5000 an ounce, what is your 10x BTC worth? nothing.

some people are just hopeless
this guy is forever doomed to be a wagie software engineer

>>28875357
HE'S SLOWLY CAPITULATING AHAHAHAHAHAH

I was getting nervous we would crash but this retard is a bull flag

>>28875635
Do you actually believe this?

>>28875357
isn't this the guy that runs one of the worst funds/investment companies out there?

>>28875357
Always do the opposite of what Jews say

>>28875357
Schiffs a contrarian indicator. If he's musing about Bitcoin going higher, then you know the top is in.

Check HYVE guys, market cap less than 2 million. It is still an undiscovered coin, do your own research but I can tell its an easy x4. Dont sleep on this gem guys

>>28875551
Depends if Yellen follows through with her musings of regulatory action.

>>28877142
no, this isn't some occult alchemy going on. It's capitulation.

>>28875458
Newfag

>>28876900

>>28876934
massive cope, if I were him I would get the rope

>>28875357
Seeing this salty boomer retard posting endless COPE always makes my day

lmao literally just bought back in because of seeing that tweet. he has blessed the 100k pump. all in bros. all in.

>>28875357
He's literally saying nothing in this tweet, holy fuck the financial system is a joke

>>28875357
>"It could double in value or it could become worthless."
>"Or it could double in value AND THEN become worthless."
Why do people care about double-talking faggots like this? Half of the analysts with big followings talk like this, it's like asking a magic 8 ball what'll happen.

>>28877246
Well you know when the last bear capitulates the party is over.

>>28875357
AAHAHHAHAHAHAHAHAH

>>28875720

If you wouldn't bang that in the face. You are truly gay. Sorry anon.

>>28877298
you are the newfag dumbass

>If you want to gamble-
I do, thanks

>>28876777
trips of truth and good luck
FUCKING CHECKED

>>28875536
He doesn't. It's a (((scheme))) to trick low IQs into trading their crypto for gold at bad prices.

>>28878225
he might just as well wrote "buy gold if you want to lose purchasing power to inflation!"

>>28875357
He's at disbelief

>>28876296
i would do both, he addresses brainlets

>>28878612
btw this is awesome... buying gold and silver with crypto let's me cash out of bitcoin tax free.
the reason for this is pretty special to our tax laws but i can basically sell gold and silver coins without paying any tax on them.

>>28875517
Yee Yee Yee Yee Yee!
I think $50k is the new "breaching ATH"
normies always tend to fomo in when we break ATH, but I've not heard the normedia getting on the horn even though we absolutely Destroyed $20,000 about a month and a half ago, until very lately

Now that they have a headline, here they come

His cope levels are off the chart. Tokenized gold will be a nice pair with other cryptos. This guy is trying to sell a model T because it uses petrol. That's how relevant his is.

>>28875357
Has there ever been a bigger cope?

>>28876900
>all fiat gains are priced in silver
is this the injected type of autism?

>>28878744
Hi pete

>>28875357
Is this a real tweet? Holy LMAO

Sneed

>>28878966
i don't know you pleb stop pretending you know me!

>>28879052
https://twitter.com/PeterSchiff/status/1361717952102469634

It's real

>>28878959
we're already living in weimar hyperinflation. the last domino to fall is silver suppression on the COMEX. have you not noticed that literally everything else is mooning?

>>28875536
He sells fake gold iras, biggest scam they have against the goyim

>>28875524
I dumped my crypto to buy physical and silver juniors, BHS is one of my largest positions. Easy trade. People who think that crypto has a long-term future are naive idiots.

>gigantic gold meteor crashes into the uninhabited tundra of greenland
>overnight the world's circulating supply of gold increases 25%
>Peter Schiff weeps

>>28875357
100% Schiff has a secret Bitcoin position

>>28878863
A lot of them already use Binance because of Elon pushing Dogecoin a while back, we might have a repeat of the Gamestop pump with normies whaling in since everyone already has access to Bitcoin ready to go as a result

>>28880414
he is satoshi, fudding his own bags with his fake gold front

>>28875357
I feel bad for him sort of. He's fallen prey to a juvenile tribalism when we're just part of the same Austrian economic mindset. Holding both is the most sane stance in terms of pure philosophy, rather than price movement

>>28877033
There are many books, documentaries and even mainstream movies (Gold) that refer to this being true. Do you actually have a rebuttal of any kind?

>>28875720
who is this girl? shes super cute.

>>28875551
100k but next bull run, this one is done.

>>28875575
he's shilling gold at all times, for obvious reasons. he owns a lot.

>>28880876
Do you actually have evidence of any kind?

>>28880750
This. Get boffum

>>28878122
go back, we don't let kikes fud us here.

>>28875357
Why do people take this guy's gold shilling seriously when he literally sells gold?

>>28878744
Checled.
That's still a taxable event, anon.

>>28882738
>>28882738
Fucking phone

>>28880414
100% guaranteed. The only reason he fuds BTC is because he's literally a gold merchant and wants people to buy his rocks rather than crypto. He's definitely been accumulating BTC for years.
Also it wouldn't surprise me if, when we start getting to the top of this cycle, Schiff publicly reverses his position in order to get people to buy his bags just before it crashes.

>>28876012
>>28876012
You cannot buy OTC or Options with Unsettled funds on TD. If you deposited today you will most likely be able to buy on Thursday. It's also 6.95 Per trade.

>>28875357
anyone have that ethereum ecoystem vs bitcoin caveman guy saying go up meme

>>28878867
Kinesis is pretty good. Very low volume but very soild project.

>>28875536
He's like /biz/raelis fudding LINK
For fun mostly, while accumulating

>>28875357
>if you want your money to be slowly eaten by inflation, buy gold

>>28875524
based silver bro

>>28879967
>bought boomer metals
>calls others naive

>>28875357
if you want gains then "gambling" is the way. gold keeps value but you gain nothing

>>28876012
same thing happened to me. it's because your funds haven't settled yet. it's a penny stock and there are additional restrictions. you can probably call ameritrade and have them do the trade for you for a nominal fee. or you can just keep waiting for your deposits to settle

>>28876306
>butthorse
Not so fast, amigo. It’s $AG and $GPL for me.

>>28883298

>>28875357
Is he literally a /biz/ shitposter?

>>28882738
like i said nope. in my country buying with crypto is nontaxable and selling the coins as a self employed entrepreneur is tax free ina special construct if they are "numismatics" so you can't sell bars or bricks i think.

>>28876777
Ultimately, everyone dies too.

>>28876934
$$182 million, whew yeah that stings a little

it only took 32b tether to get to 50k
they're printing a few billion a week, so 100k in 3months is easy

>>28883450
imagine building your DeFi ecosystem on top eth kek

>>28875357
Schiff is such a cock

>>28875536
BTC competes with gold as an inflationary hedge. He's a gold shill so obviously he doesn't like that very much. BTC doing good means his business and investments doing bad.

>>28875536
bitcoin does not makes sense to him, and if you hear his arguments, they are very solid, it does look like a ponzi scheme, just a very large one, feel free to counter that argument.

that said i hold bitcoin

>>28875635
Lol yeah this. Fucking bandits just throwing away rubies the size of a tangerine.

>>28884977
>BTC. a ponzi scheme
>totally decentralized
>no single party controls it
>a market of willing buyers and sellers
English fails you.

>>28875524
Canadian TSX is known for frauds, especially related to natural resources companies

>>28875720
whats tafbaes snap again ?

>>28885533
it works as long as you have the last thing. the ponzi thoughts come from the fact that the coins value is based entirely on the amount of fiat money that people have put in it

Crypto/Shinny rocks holder. Fuck the FED

>>28875357
> could go up
> could go down
> trusting this guy

>>28885906
>the ponzi thoughts come from the fact that the coins value is based entirely on the amount of fiat money that people have put in it
That's sort of what makes an asset an inflationary hedge. Including the gold that Schiff makes a living off.

And yes, I know BTC started out as a currency to buy drugs. But as time went, smart money understood that it's far more suited as an inflationary hedge on par with gold. It serves the exact same purpose, there's a limited amount of it, enough people believe in it, and it's easier to store and transact with than physical gold.

Even JP Morgan who were previously ultra bearish on bitcoin agrees with this sentiment now.

https://www.reuters.com/article/us-crypto-currencies-jpm-idUSKBN29A1IF

>Digital currency bitcoin has emerged as a rival to gold and could trade as high as $146,000 if it becomes established as a safe-haven asset, investment bank JPMorgan (JPM) said on Tuesday.
>“Considering how big the financial investment into gold is, a crowding out of gold as an ‘alternative’ currency implies big upside for bitcoin over the long term,” JPM said.
>Bitcoin is likely to outshine gold as millennials become a more important component of the investment market over time and given their preference for “digital gold” over traditional bullion, JPM added.

>>28885906
It's an oximoron, moron - and, that's not how markets actually work.
BTC is a decentralized, globally distributed, freely traded, liquid market of buyers and sellers. There is not single party (e.g. ponzi) that controls it and there are various ways to obtain it.
It's not a ponzi, by definition and (You) need to better understand what a ponzi actually is.

>>28886079
sell it all for btc

>>28886587
it is a pyramid. just one of the big holders have to sell their coins to have significant effect on the value

>>28875635
You're saying I can get a tangerine the size of a tangerine?

>>28887012
See >>28886393

If the US government dumped all their gold on the market right now the price of gold would absolutely fucking plummet on par with a BTC whale dumping theirs. The existence of whales within a market does not automatically turn it into a pyramid scheme, you fucking retard.

Sell sell sell sell sell

>>28887403
seems to involve a lot of trust too. you basically have to hope that all the big boys will keep holding

Explain to me how bitcoin could go to zero? Even if the biggest wallet holders dump everything they have, hundreds of thousands of people will just pile on it to get bitcoin at a lower price?

>>28887012
>it is a pyramid
What does this even mean? It's a market, clueless one.
E.g. a buyer that owned 1000 BTC @ $100 sells all of it when BTC price = $1000.
People are always buying/selling and people are entering/exiting all the time. That's how fucking markets work. Supply/demand and all that...
Do some people end up owning more than others over time.
Rhetorical.
Read more, anon. You aren't very bright.

>>28876777
It's going to infinity

But your buying power with it is going to zero.

>>28887629
Seems to me that you have no idea how financial markets work.

>>28887629
As in literally any other market. If I'm holding AMZN stock, I trust that Jeff Bezos or any instituion holding a significant amount of stock doesn't market dump his stock and send me to the poor house.

How often must I repeat myself? Whales within a market does not make it a pyramid scheme. Whales exist in every single market, and everyone underneath the whale must trust that the whale does not dump their holdings.

>>28887652
people could get scared and quickly sell before it drops more

>>28875635
Hey there, defense contractor that has talked with several captains. this is totally true, in that part of the world they actually use glass bottles and metal pots as money because the gold is so worthless there

VET TO THE MOON

>>28887696
what market? currently its literally just an investment instrument. i cant walk into the grocery store and buy food with bitcoins

>>28887871
why not sell some of it to foreign markets instead?

>>28875551
100% 100k, BTC will never go down to 0 unless it's completely replaced by a superior technology in 20 years

>>28887935
>hardheaded nocoiner w/ a room temp iq.
Life is going to be very hard for you.
I suggest you review and consider what I posted.
It just might help you understand wtf is actually going on out there.
Good luck.

>>28887652
mass normie panic selling could drive the price down, but the floor increases every cycle with new institutional money and diamond hands so its never going to 0 unless a major flaw unravels the tech

>>28887935
If someone at a grocery store offered to send me bitcoin for me to pay for their grocery if their card got declined I would accept so fucking fast.

>>28875357
>it could go up
>it could go down
Someone pay me to do this guy's job.

Bitocin is fundamentally flawed. That is an unbiased objective fact. It´s going to zero, the question is when

>>28887629
yup. everyone hold, then we can all make it (somehow). the reality is greed is going to destroy lives while you sleep

>>28887935
You're either pretending to be as dense as a fucking brick, or you're never going to get it. Jesus christ.

>>28888132
nah.. i dont have anything against this. of course you play with it as long as it keeps printing money for you. but everyone sees bitcoin as an investment, not as an currency so i dont really see any real life usecases for it

>>28876777
The real smart money knows the schiff rule

>>28888413
https://oll-resources.s3.us-east-2.amazonaws.com/oll3/store/titles/2307/Selgin_1544_EBk_v6.0.pdf

>>28888206
independent small business have such flexibility but i would be surprised if the big corporations accept it ever.. its really hard to find such business here even if you are ok with paying a bit more for your stuff than you would in the big chain market

>>28888621
i would be surprised if the senile boomers can make so big changes in my lifetime. old people usually hate change and will do everything they can to prevent it or at least hold it back

>>28876886
>Trading with intelligent life on other planets
Us decimating them, or the other way around seems more likely

Bitcoin is fundamentally flawed and is going to zero within 2 years. Insider here. Carbon tax and miner regulation will destroy bitcoin. It will drop 90% in one day, and so will most alts. Last warning, it will happen sometime this year thats all I know.

>>28889208
sure thing but they eventually die and change comes with generations.

>>28888413
Last response as I see many brighter people stumble on this all the time.
>but everyone sees bitcoin as an investment, not as an currency
The day the US government made every cryptocurrency sales a taxable event (capital gain/loss) is the day crypto"currency" was regulated to be property (i.e. IRS regards and taxes cryptocurrency as property).
>so i dont really see any real life usecases for it
That's because you:
1) Are poorly educated in financial markets
2) Have a low networth
3) Don't understand the meaning of terms like "asset allocation"

>>28889294
carbon tax sounds like a meme that only eurofags will have to worry about. europeans love to shoot themselves in their own foot

if bitcoin disappeared tomorrow, what value would be lost that couldn't instantly be assumed by one of the countless crypto clones?

>>28875357
$25K EOW

DAMP IT

>>28889448
posts he from his mothers basement. actually successful people would never come to these internet shitholes but worthless neets have all the time to sit here larping.. they might even come good at it because they do it so much

>>28888778
i think we are nearly at reliable store of value

>>28889294
>Carbon tax and miner regulation will destroy bitcoin.
Brainlet take. The chinks and Russians don't care about carbon emissions.

>>28889803
also the global money thing is bullshit.

Bitcoin may go up or bitcoin my go down ... How the fuck you people can find 2149018598325839021 IQ people like this

>>28875357
This guy probably passed up so many chances to buy bitcoin early. Imagine missing out the biggest gains of your life because you don't understand it.

He fud bitcoin as a psychological defense mechanism, because if he didn't, he has to come to term with missing out on 1000x his wealth.This guy has some deep rooted seeth

>>28889803
yep we are, the chart is a little older. i can't be bother to upgrade it and it's just stolen from twitter anyway. but yes we are shortly before "reliable store of value"

>>28889557

from what i gather...

- bitcoin is far slower and more expensive to process than a credit card transaction
- as more bitcoin are mined, and there's fewer remaining to claim, fees will have to go even higher
- bitcoin is the opposite of private or anonymous, literally every transaction in history is searchable
- requires a huge amount of power to maintain (rip texas crypto miners)

>>28889878

read this post carefully >>28888621

>>28875357
I get it if you’re so old and comfortably retired that you just don’t bother getting involved with crypto, but why are people so intent on making fools of themselves?

>>28889961
yes that is how btc looks like without sidechains and lightning.

>>28889918
I probably owns a bunch. He is a inverse signal caller, if he says it going to drop it will rise, it he says it is going to rise it will fall, it is the top guys... and I lost alt season...

>>28889803
This

>>28888778
I think it's time to update the chart up to somewhere between greater decentralization and greater liquidity
I think "greater liquidity" comes when bitcoin can hold $250k, since then it can actually begin to rival the liquidity of gold and the almighty Dollar

>>28889961
>- bitcoin is far slower and more expensive to process than a credit card transaction
Credit card transactions take days, they are only "done" in minutes because your bank loans you that money before the actual transaction actually occurs days later.

>>28876934
How the hell do you sell at $1 and NEVER get back in? I can’t even

btc hits 50k for a small bit and they just cant stop themselves from clickbait

>>28876900
>buy my shiny shitty second tier rock, it has none of the liquidity benefits of a cryptocurrency and none of the utility, but it exists in the physical world!
retard

>>28890305
people told him he cant ever beat the market and he should buy vanguard index funds and focus on his career

>>28875357
i hate this faggot boomer so much kek

>>28876934
This is why people who are just in it for the money will never truly make it. You need to be a True Believer in order to hold through all the volatility and see the light at the end of the tunnel.

>>28890623
This is BTCs fourth cycle, the guy never thought to maybe buy back in? Couldn’t be bothered to throw $500 at it when it was $10? Classic npc

>>28875635
>>28887871
Are you posting from the early 1600s?

>>28876777
>Bitcoin could go to $1 million but it will ultimately go to zero
>it's too late to buy now
I hate this hand rubbing jew like you wouldn't believe

>>28889294
Bitcoin CEO here....Stfu and go buy shiny dumb rocks.

>>28889294
>putting carbon tax on bitcoin
>not puting carbon tax on gas ang coal power plants
how does that make sense in your head?

>>28884977
>>28887012
BTC is only a "ponzi scheme" in the same sense that literally any other unit of exchange or store of value is a "ponzi scheme". Currency/value storage is ALL, always, and for all time a web of exchanged promises, nothing more. The shinyrocksfag "but a tiny fraction of the population knows how to turn the shiny rocks into tools that are useful in a functioning industrial society! intrinsic value!" is a copout - if silver and gold are still useful to people, then Society is doing well enough that the exchange of promises is tenable, ergo other currencies are still valuable too. If society shits the bed enough that crypto is now worthless, then even gold reverts back to being a shiny rock that you can't eat.

>>28891844
i think it's just brainlet talk.
a ponzi is a very specific form of confidence scam where the issuer of a security promises unrealistically high returns and pay off initial investors from later investors money.

something that is freely transferred and traded and not a security can't be a ponzi by definition.

>>28887012
>it is a pyramid
yo momma is

>>28876655
did you know you can't make money in crypto unless you are smart money? that means you are one of the first to enter and or, the first to exit. wealth doesnt mean paper profits btw. real wealth is created from businesses, do you think it is a coincidence the richest men in the world are business people? to do what i said at the start you need to have a strategy to compete. crypto goes down when there is no new volume coming in, that is purely supply and demand. If you dont have a plan to identify when to sell into the demand you will never make money

>>28886587
It’s “Oxymoron”, moron.

>>28892035
Pretty much, yeah. You can break down literally anything that's traded to "You put resources in on the promises that someone else will give you resources later" terms to make it sound shady. You opened a factory making widgets? Lmao you're getting ponzi'd dude, dumping your savings into widgets that you can't eat on the assumption that somebody else will trade you other resources you need for them later lmao retard enjoy going broke!

>>28877306
>BUY LITERALLY NOTHING
>BUY EPHEMERAL THINGS
topkek

>>28875357
It will never go to zero

>>28888060
dude, bitcoin has already been surpassed 20 times over but the price is kept in a belief system that the demand will increase by more believers

>>28875536
Because it undermines the hell out of his stock market grift

>>28876934
Unironically, he did great. The other likely option was he would heem his hard disk over the years somehow. I'd say 99% of wallets from that time are now lost

>>28876934
the midwit curse.
>too stupid to understand BTC
>too "smart" to invest because numbers go up

>>28875536
He makes money from gold sales.
Bitcoin "threatens" gold.