/biz/ - Business & Finance

>>29978378
>Tendayi Kapfidze
Done.

>>29978378
>literal who
>doen't know how btc works
I guess thats why he/she/IT will stay a literal who

>>29978378
jan 1 2020

>>29978502
>doen't know how btc works
BTC doesn't work.

>>29978378
>no utility
Tax evasion is a great utility.
Sending money internationally without being cucked by a bank is another good one.
Being an asset with an observably scarce supply that jews can't print more of the greatest utility

>>29978502
How does he not know how Bitcoin works?

Of course crypto is a pyramid scheme. Literally every single speculative asset in history is a pyramid scheme, especially stocks and gold.

>>29978579
>without being cucked by a bank
Scale was suppressed by banking interests lmao

>>29978378
I'd like to know which problem he solved.

is democracy a pyramid scheme?
are property rights a pyramid scheme?
are personal liberties a pyramid scheme?
the point of bitcoin isn't "number go up". "number go up" is a result of bitcoin's point
which is, a decentralized and borderless digital currency
whether that's valuable to you or to any economist is irrelevant, it is valuable to a non-zero number of people
whether the current market rate is inflated by fake tethers or manipulation is also irrelevant within the context of that discussion. bitcoin would still be valuable, just not valued as highly relatively

>>29978592
He said that it has no utility in the real world, anyone with that opinion is a retard that does not know how bitcoin works. that is how we are able to confirm that he doesn't know how bitcoin works.

>>29978502
>You only make money based on people who enter after you.
>It has no real utility in the world.
That's exactly how BTC works.

>>29978378
>Lending Tree Chief Economist calls BitCoin a pyramid scheme
Fucking lol. Lending tree is an ACTUAL financial pyramid scheme.

>>29978378
>still hasn't found a problem to solve
once you realise that the central issue blockchain solves is the entire concept of bureaucracy, the price action becomes clear. Everything from banking, transactions, currencies is just an implementation. Educate yourself before you look like a complete retard

>>29978378
All stocks are a pyramid scheme then. Businesses can exist without the stock market so it has no real utility either.

>>29978378
This is OP. Image has not been altered in any shape or form.

First come first serve
Life is a "pyramid scheme"

>>29978378
By this retarded logic every company is technically a pyramid scheme

>>29978378
THE GREEN CANDLE GO UP BRRRRRRRRRR

>>29978579
Taking the first flight and bringing all your unconfiscatable networth somewhere else is another one

>>29978432
FPBP and 80 IQ pilled

Cash flow keeps the lights on and equity makes you wealthy

When speculation halts what's left is the cashflow. How much cash flow do you get holding BTC when no one else is willing to purchase it

>>29978579
Would like actual refutes to these points:
>Being an asset with an observably scarce supply
BTC futures through the CME are now nearly half of total bitcoin trading volume. They are cash settled only but still move the price bigly. Aren't you afraid of bank manipulation?
>>29978907
>decentralized and borderless digital currency
How decentralized is it really? Do you really trust that there's an anonymous benevolent mystery creator? Do you personally trust the Core dev team to maintain your best interests always? What about a single centralized source dominating the hashrate?

>>29978949
I had an idea after listening to some short sellers talking about China.

Basically the world's got a bazillion public and private companies. The public ones have to basically lay out all their balance sheet, debts, and assets. In China, in particular, in the last 20 years, many public companies were found to have cooked books. In many areas of the world, it is common to have really fucked up finances, partly as a consequence of the environment of corruption, partly as a consequence of monetary instability. In China, there were many, many companies found to have fraudulent books- assets and sales figures, etc., just completely fabricated.

In the more technically advanced western economies, public companies have a sheen of legitimacy because of a much longer history of regulation and stable economic situations. However, you don't have to look far to find companies that have committed fraud, it happens all the time. Even companies with contracts with auditors like Ernst & Young or Deloitte or the other big accounting firms get hit with fines, or the auditors themselves.

Since the stock prices move on quarterly reports and the shareholder value is tied to executive compensation (and corporate mission) there is incredible incentive to lie about assets on the balance sheet.

This is where bitcoin ("as a reserve asset") comes in. It is the immutable alternative to the traditional accounting methods of asset verification. Simply by holding bitcoin, a company is saying, at least, under this line item: I am not lying, see for yourself.

I don't know if there is some impending crisis in accounting, either in companies, countries, institutions, or elsewhere, that will prove that much of what is claimed on balance sheets doesn't exist. But if that were to be the case, a company with bitcoin on the balance sheets would be perceived as far more trustworthy under these conditions.

Fiat is a piramid scheme. You only get money if other people use fiat after you. The economy is a piramid scheme, you only get money if other people continue to move it.

>>29980531
You are forced to pay taxes on it so people will use it. However chinkcoin is just based on trends.

Accosting to this definition literally anything that increases in value is a pyramid scheme.

>>29978378
The problem is centralist/governmental intervention and control in money. And BTC does a decent job solving that problem.

Ask me how I know that this "economist" is a lefty and/or a keynesian.

>>29978378
Economical sciences are just glorified humanics and as such do not require understanding of abstracts. If it is not on a textbook it doesn’t exist to these people.

>>29980693
nobody is forcing anyone to pay taxes. sure the punishments are harsh if you don't, but you're still not being forced

everyone could stop paying taxes tomorrow if they felt the consequences of not doing so were not as severe as the shitstorm that's going to come by supporting a flawed system

>>29978378
The problem is money printing, and that is happening, but I would buy XMR instead of BTC for that purpose.

Everything is a pyramid scheme on a long enough timeframe

Yes it's a pyramid scheme. you are in early though this is going to 1 billion dollars per btc. I'm 200 years nobody will even know why they are buying bitcoin but it will continue forever.

>>29978378
Social security is a pyramid scheme.

Refute this.

>>29980867
>not paying taxes
>gets sent to jail
>not forced
Anon, let me ask you a question: what happens if I resist being sent to jail?

>>29978378
Saying something is "a solution in search of a problem" makes you sound like an actual retard trying to be smarter than the majority. I feel like I've read this sentence multiple times over the past few weeks as well, guess people are just parroting

>>29978378
this is like saying every bloated silicon valley tech company that's stuffed to the gills on venture capital but has yet to turn a profit is also a pyramid scheme. he literally just sounds like some salty nocoiner academic

>>29981182
rhetorical question obviously so not going to bother answer it. it's your freewill choice to pay your taxes, nobody is forcing you. they can throw you in jail, they do a lot of things to do as a consequence. but they can't force you to pay taxes. and they can't even seize any of your assets if you're 100% in crypto.

The economist is correct. The smoothbrains defending btc in this thread are conflating bitcoin with blockchain in general. Bitcoin itself, with its inability to scale, has no utility other than selling it to people who buy after you. Even if it could scale, its deflationary nature makes it useless as a currency. The store of value narrative is also ridiculous when the price regularly fluctuates by 25% a week. Bitcoin was a breakthrough invention and Hal was a genuine genius but in its current state it offers nothing over newer coins other than brand name recognition. It’s nothing but a pyramid scheme at this point and with abject brainlets and literal retards like Maxwell at the helm that won’t be changing any time soon.

>>29981508
unconfiscatable wealth with a 10+ year history of being a store of value for every single person that bought it and never sold is valuable

ngmi

>>29981452
>Jail is just a room

Are you retarded anon?

>>29978378
> bitcoin is a useless pyramid scheme
> t. 80iq diversity hire

>>29981452
So if somebody is showing up with guns and telling you he will shoot you if you don't do as he says, he is not forcing you as it is your freewill choice to comply or not? Bro, this is a retarded conception of force.

>>29981508
You are right Bitcoin is useless, but not for the reasons you think, the real problem is traceability, having traceability nulifyes fungibility and negates any possible use as a currency/store of value

¿Would you buy bitcoin with the risk of it being dirty money and having your wallet blacklisted from everywhere and any wallet that touch those Bitcoins?

>>29982345
who cares what they do? that's their freewill, you can't control that. just as they can't control yours. nobody is a victim, we're all contributing to the system out of choice.

and you can accept any sort of situation this world throws at you with peace. you can literally be at peace with being set on fire if your mentality is powerful enough

https://www.youtube.com/watch?v=VCEWSSVjrTw&bpctr=1614622811

>>29982710
yes that's precisely what i'm saying. the human spirit is powerful enough to accept any circumstance as a result of its freewill choice. if you believe in something strongly enough, fight for it.

>>29982812
Subtle shill

>>29978378
>(((Economists say)))
No. I won't. Economists isn't a title you have to earn like doctor or lawyer where you can only call yourself such if you pass an exam certified by a state and then prove yourself competent on the job every day. You literally just get an undergrad degree from some bottom barrel university then go work at a think tank that uses your degree as an appeal to authority to confirm whatever preconceptions they had about the world. Same thing for (((scientists say))).
The only economics you need to know if supply and demand. The rest is reading tea leaves.
tl;dr fuck off

>>29982843
>nobody is a victim, we're all contributing to the system out of choice.

>>29982843
The proper answer to theories like that is a clinical thermometer. Or maybe even the mental asylum. Good riddance.

>>29978378
tech illiterate people aren't allowed to give their opinion on this