/biz/ - Business & Finance

pmfag here
I bet you were laughing at boomer rocks not too long ago.
not laughing now, are you?

>>49580023
lmao retard
It's LITERALLY NOTHING and ENTIRELY SPECULATIVE.
kek
Retards.

>>49580023
Kinda strange how it tanked. How much loan money is in crypto.

>>49580023
Because it never was, you were being told that by people who had a position that would benefit from retail buyers piling in. Bitcoin is a volatile risk asset bloated by recent financial policy, it is not a store of value whatsoever

because theres not a little red ticker that says -15 next to your dollars

It only works as a store of value if you hold very long term. Bitcoin has stored value for everyone who bought in 2016, 2018, or even at the Covid lows. But it's not "digital gold" in the sense that it can just collapse -80% at any given moment.

because most bitcoin "investors" are just dumb kids who want to get rich quick and corporations that want to make money of the dumb get rich quick people

Bitcoin was worth $4k just 3 years ago.

>>49580023
because fucking literal countries hold trillions in gold. That's why it's stable.

>>49580194
>store
>to hold, secure
If you had a jug or a gas tank and it "stored" gas the way btc stores value you'd get a new tank.

>>49580207
This

Gold has better USD inflation fiat than Bitcoin.
They are all basically fiat (gold has niche industrial uses so its technically a "commodity" but its really fiat)

You're a mark. You will always be a mark.

dont get discouraged now... the bull run is coming bros... any day now... satoshi wouldn't let us baghold... hes on our side bros... hes looking out for each and every one of us... please just keep holding your BTC... please... i know it's tough but we're all in this together... the crabbing is just to test our resolve... sell your car, your possessions if you have to... the bull run is inevitable... mark my words its gonna happen... just keep stacking sats bros... BTC is the only salvation in this corrupt system... even if it takes months, years, decades... just hold hold hold... please... we're all gonna make it bros... ignore the naysayers... friends, family, colleagues... they dont know what we know... by god we will have the last laugh... just make sure you keep holding... we all must hold for the bull run to happen... its the only way... so you gotta hold bros... please...

>>49580207
>>49580243
>worth
topkek

>>49580023
It's tied to Nasdaq now but was never digital gold. Still time to buy gold and silver.

Because a lot of people and investors bought it on debt and leverage and now panic

Were not far from saylor getting margin called abd coinbase going bankrupt, another two weeks luke the last

See dotcom bubble
See tulip mania

Nobody will give a fuck about BTC in years to come.

Ah yes, I remember an article about archaeologists discovering a pharaoh’s sarcophagus which was entirely made of bitcoin.

>>49580261
Fiat is backed or given value by governments, it has no inherent value and can be printed at any time.
Gold's value comes from moving tons of earth, spent fuel, blood and sweat. It cannot be printed, increased production only comes from increased prices and has a lead time of years.

>>49580023
its all manipulated

there is infinite fiat available to naked short whatever is a threat to the system

>>49580023
gold is below 2008 levels and below 2000 levels inflation adjusted it's a boomer controlled opposition financial instrument.

>>49580023

>>49580023
I'll let you in on a little open secret:
The faster something dumps right now as Jerome pretends the money printer is off, the more bullish it is for that asset when he admits he cant turn it off. Gold takes longer to dump because it involves getting off your ass to sell. I'll let you think through the rest.

>>49580163
>can‘t even sentiment
ngmi

>>49580023

It was all just a big scam. Thanks for playing.

>>49580023
Because despite the narrative bitcoin alway runned on greater fools principle and right now we're out of idiots to buy our bags.

>>49580571
This

Op you dont genuinely think btc's growth last year was organic, do you?
It was clearly pumped by big money and now they are just taking their money out.

>>49580595
This. As the world's reserve currency, other countries will get hit extremely hard as the USD collapses. BTC will gradually become adopted by more and more countries, and at some point the U.S. will capitulate too.

>>49580595
Why would anyone buy it? People have been selling assets to cover food, rent and gas it's not like they are going to have spare cash to buy back in and if they did why would they buy this? Russia, China amongst others have been steadily purchasing gold and will continue to do so.

>>49580595
Holy fuck that image hahaha what the fuck

>>49580683
>absolute state of copious bagholding
how old are you?

>>49580207
This

>>49580685
Selling assets for a fiat currency that is on the brink of runaway inflation during a time when the world is on the bring of a global depression? Based cattle

>>49580624
Everything runs on that due to entropy, there is no good you can't park without losing energy, even gold needs security so it has a cost and energy loss for parking.

Crypto assets correct first tough, people forget that 2017 bullrun had deflationary conditions, so did the 2020 early movements.

I don't think we will correct much more but fucking fed boomers larping they want to cause a recession to reduce inflation is going to crash EVERYTHING and i mean everything, maybe today we see -10% on boomer markets.

It's honestly insane how incompetent they are there is a massive energy shortage and they are fuding energy futures causing that companies do not invest in that.

And if we see 10% unemployment rates with 10% inflation rate shit will get violent.

>>49580718
you forgot
>proof of work
>energy crisis

>>49580705
>copious bagholding
Check back in 3 years. You know I'm right.

>>49580718
People will put feeding their families above waiting for a reversal. Debt maxing and defaulting on this debt is also occurring. Even if btc finds a bottom it may take years to come back.

>>49580023
Inflation is 8.6% on an animalized basis. Bitcoin is just froth on top of a financial market characterized by free money that cannot even function as a currency in any meaningful sense due to low transaction bandwidth. You are about to be down by a lot more than 8% as the real economy realized a what a joke this last crypto hype cycle was. You are going to wish you had stayed in cash by the time we get to October. By the time the R-word is this common on everyone’s tongue, not just randos, the psychological inevitability of a recession has already been locked in. This will be crypto’s first recession in the real economy. You cannot compare it directly to other booms and busts. It will be back up eventually, but people need to start thinking in years rather than months.

>>49580023
Nothing underpins Bitcorn, it's entirely speculation and hoping some other loser will buy it for more than you. Not hard to understand really.

>>49580813
And yes animalized is how we professionals say annualized.

>>49580023
buttcoin is backed by hot air and is going to ZERO within this year

Bitcoin is liquid, but gold takes a lot longer to sell. Unfortunately for me, I hesitated to sell my GPUs back in April and May, so now I’m stuck with 10 RX 580s that I can’t use without tripping the circuit breakers.

>>49580261
At least fucking find definition of fiat

>>49580685
>Why would anyone buy it?
Imagine being a business that was fine until liquidity started to collapse and you get to a point where the fed is openly saying they want you to go out of business to battle inflation. At that point, you get on the internet and accept internet-chuck-e-cheese tokens because they already dumped 99% and you're guaranteed to get the dollar equivalent value in said tokens during transactions anyway by automatically dumping them for dollar if need be. Basically transactions using coinbase's visa card or something similar. Then they stop automatically dumping them when they pump in dxy value. Then more people start doing the same. And the underlying network accrues value as more people use it even though they dont intend to directly invest in the network or its gas token. Then more gas is used and then the price goes up.

>>49580775
BTC should simply be bought and held as a store of value; rarely should it be moved and it shouldn't function as a currency desu. Solar, nuclear, and geothermal energy solutions will gain more adoption as the world weens off fossil fuels. It is merely a turbulent time but in the long term the macro is bullish

>>49580901
>Then they stop automatically dumping them when they pump in *FIAT value
fixed

>>49580243
thanks for contributing nothing to the discussion

>>49580931
Imagine using the term “fiat” disparagingly right now. This record inflation is barely a blip compared to the current crypto dump, but crucially fiat has this one weird trick: you can use it to buy food.

>>49580810
Of course, that's understandable, and necessary for widespread crypto adoption. People need to experience max pain before things get better. More and more people are waking up to the truth about this financial pyramid scheme predicated on fiat, fractional reserve banking and compound interest. The world is enslaved by it. BTC, blockchain, crypto, etc. allow for liberation from the system. Simple as that.

>>49580833

>>49580023
Because currently Bitcoin is being viewed as a risk on asset, markets treating it like a tech stock. As Bitcoin matures the markets sentiment will switch from it being a tech stock to a store of value. For now though, strap in.

>>49580023
How can it be a store of value when it has no intrinsic value and produce nothing? You are better off buying ibonds

>>49580864
buy signal.

>>49580023
does gold need expensive ass electricity to transact? no
whenever you have a bitcoin, what youre saying is that you ve got x amount of dollars BUT the energy market has a variable put option against your dollars at leverage (yes youre paying their bags)

>>49580997
You can literally buy food with crypto using a visa card as I said in the post you quoted.

Its always been a speculative asset that is dependent on investor sentiment and whale buying.

With QT and rising interest rates the whales have less money to buy. Retail traders have already tapped out

>>49580997
Food that won't exist because of the manufactured food shortages. People are going to be pissed with the current system more than ever. When people have nothing left to lose then BTC will become universally adopted.

>>49581044
>"Now there's another way intelligent finance could make you better off"
>gets rekt by runaway inflation

>>49580833
>>49580864
>>49581049
how new are you fucks? research a little more
>>49581084
does gold appear out of thin air? does it move around on itself?

Because gold is staked at 0% rewards. It's defaltionary and illiquid

All you had to do to realise that the "store of value" narrative was false was to compute the sample standard deviation of returns for btc (a very high number). Something that moves around more than a speed freak is not a candidate for "storing value".

>>49581236
african miners dont cost much. slave labor is almost free. bitcoin needs a bunch of expensive ass potty mouthed devs to keep things running

>>49581049
Gold is a commodity.

No currency has intrinsic value as a currency. It is a socially agreed upon unit of value. That is all. Unlike with gold though, BTC can be transferred relatively quickly to anyone anywhere in the world. Also it can't be stolen from you as easily. BTC would allow for the global economy as we know it to continue operating as normal (minus the influence of centralized institutions), whereas gold still plays into the centralized system.

>>49580130
Boomer rocks will crash too. Newfags do not get it. The Fed is destroying dollars until prices go down in CPI. This means dollar value is being forced up. You wan to fight the guy controlling how many dollars exist? Good luck with that.

>>49581084
No, gold just requires strip mining that disrupts a natural ecosystem and its inhabitants. As for energy, see >>49580903

>>49581292
BTC is still a fish in the economic sea of centralized whales. If it were to gain absolute, universal adoption, then it wouldn't be volatile. It's volatile right now because it has been treated as a speculative asset by most people, as opposed to the world's reserved store of value that it is meant to be.

https://www.reddit.com/r/Bitcoin/comments/s6j5sw/im_all_in_bitcoin_ive_removed_all_other_crypto/

Where is he now?

WHERE THE FUCK IS Z?

>>49580023
You weren't scammed.
You just got on a ship of fools.

>>49581458
>disrupts an ecosystem
get out of here with that communist propaganda

>>49580023
It's obviously a meme. You didn't realize that anon?

>>49580023
>store of value
so its literally use case is it other retards fomoing into it lmao.

>>49581654
Larping

>>49580023
>why don't these imaginary 1s and 0s hold their value better than a metal with tons of industrial and decorative uses that has been used as a store of value for thousands of years?
Are you retarded?

>>49580130
I have silver, thank you.

>>49580130
Retard
>>49580023
The big money tamed it and basically treat it like stocks on steroids

>>49580143
>It's LITERALLY NOTHING and ENTIRELY SPECULATIVE.
>kek
No it isn't.

>>49582382
Are you retarded? What you said isn't an argument.

>>49580166
https://www.google.com/amp/s/www.businesstoday.in/amp/crypto/story/is-bitcoin-replacing-gold-oil-to-become-store-of-value-of-the-digital-age-324657-2022-03-03
Business insider says otherwise.

>>49580194
Unironically, just hold in to it and when it dips hard, like every other fucking investment assets.
>/biz/.
>Buy high sell low.

>>49580194
>at any given moment.
Whales selling and fed interest rates hikes aren't nothing.
>>49580205
>because most bitcoin "investors" are just dumb kids
Citation needed.

>>49580595
>Selling gold.
>For paper rectangles.

>>49580685
Coinbase pro, trade history...just because you can't manage your money doesn't mean the rest of the world can't, fucking filthy American.

>>49580023
lol this retard fell for the ponzi scheme """""hedge against inflation"""""'
also increasing prices of energy and food is not really "inflation" as in money losing value, but just increased costs of living for some time.

>>49580798
See you in three years anon! Hope you bought a good bag, my man.

>>49580287
Fuck off gypsy
>>49580023
Don’t worry anon stores of value regularly lose 80% it’s normal

>>49582462
OP is asking why imaginary internet money doesn't hold its value. Why the fuck should it lol?

>>49580023
imagine being in this space without understanding the most basic, simple-to-grasp concepts of central banks and monetary policy. It is NOT inflation that is causing this, it is the Fed tightening and raising interest rates in an extreme way, and doing it into a recession no less. This is the worst case scenario perfect shitstorm... tightening measures like these normally happen while markets go up, NOT down. They are also never this extreme

>>49580207
>Bitcoin was worth $4k just 3 years ago.

>>49580595
That image though what the fuck

>>49582835
>imaginary internet money doesn't hold its value.
you stupid fuck. You retards stay quiet in bull markets but always post low IQ fud in bear markets. Like clockwork

>>49580023
Because BTC is just neckbeard gold.

>>49580023
Never was, never will be. Bitcoin is based on arbitrary perception of value AKA fucking nothing.

Solving complicated algorithmic proofs of work is no more valuable than playing a game of Twister with your friends then keeping tabs on a piece of paper of who played that day.

>>49583065
The fact that the price goes up due to retards buying in doesn't mean it has value. Go back to plebbit.

>>49580023
My delusional mumu pov is it had to go do to 20k because btc never does a 2x, now it can go for a 4x Parabolic run.
My macro pov is btc is pricing in the upcoming deflationary events. The latter being more likely. The best investment right now is job security. Hope you aren't in a position to get laid off. This will be a generational opportunity to get ahead if you're not a bottom feeder.

>>49580718
This post was clearly made by some incel who never bought their own groceries.

>>49580163
crypto niggers are all in leverage.
literally 5x-20x god knows how many levels of leverage.

Speculation. Bitcoin is volatile. You have to look at long term.

>>49583428
Reread what I said, dumbass

>>49580023
because of the offloading speed unlike gold

>>49580023
>Bitcoin is a hedge against inflation
>In 2018 when US had an interest rate of 2.25% bitcoin fell 80%
Can't wait until zoomers are dubbed generation suicide

Even gold is not doing great

>>49583622
imagine if you can get rid off your gold as fast as BTC right now

>>49582471
Lol

>>49580813
>By the time the R-word is this common on everyone’s tongue
I've already heard it get thrown around by normies.

>>49580023
>what happened to BTC being a store of value and digital gold?
It was always a meme. We warned you but you didn't want to listen.
Crypto is an entirely speculative asset without inherent value and no real legal use case.
Speculators put their money on it when the market is bullish and unreasonably optimistic. When these conditions are not met, price plummets.
Nobody uses it as a "store of value" except for retards

>>49582471
lmao business insider, literally written by dumb interns who look at the recent fad to cash in clicks

>>49580023
Because gold is a real, tangible, fungible, etc, and has always been a store of wealth. Gold maintains its value because it IS value, it is the gauge that has always been used to measure the value of everything else. Bitcoin has value because a several million people think it has a certain value. It's true value is 0 grams of gold because it isn't real, and dozens of other things can do what it does but better. Bitcoin is only worth as much as it is because it was the first, and people love convention. Sooner or later enough of the people still holding will wake up, and then it's true value will be revealed. It's true value of 0. This applies to all crypto, which were created to distract you from real assets while the rich suck up the last of them. Take the crypto market cap and disperse it into real assets, then you'll see what the rich consider those assets' real values to be. If you're still in on the crypto ponzi, you better get out soon.

Only sell if you believe crypto is 100% dead. Maybe it is? I for one believe that the people who sold at $50-$60k are buying back in about now, or at $12k at the lowest. The people who sold at $50-$60k are crypto insiders and unless they think its dead, of course they will buy back in.

>>49580867
How did you use them before? Are the broken?

>>49583531
What you said didn't refute him at all lol. So your argument is he's wrong because he's telling you the truth when you don't want to hear it, as opposed to when you'd like to hear it? Sorry chief, but real asset holders have been warning you guys constantly.

>>49583622
It was up a lot after CPI announcement, why do you think it's dropping now?

I almost used my retirement to buy 3 Bitcoin at 62k. Wew lad.

because bitcoin is not real asset. everyone is preparing for difficult economic times, no one wants to invest their savings in a meme.

>>49582471
>he believed what bitcoin pumpers say
Why do you think """business insider""" go on an interview for a pubisher to publish this shit?

>>49580207
Yes and it will never be a store of value if it continues to be this volatile

>>49580683
No countries significant enough is going to adopt it and let some random millionaire who spent a couple of ten millions hold massive power over your currency

>>49580798
Kek because you didn't sell. I bet half of the people here are loaded on cash waiting to buy in pennies for the dollar you paid for

>>49580023
Because bitcoin, while having large institutional investment, is still a hype coin with no fundamentals. It will be subject to large swings in value for it's entire existence.

>>49586553
NO COIN HAS ANY "FUNDAMENTALS" YOU STUPID FUCKING NIGGERS!!! IT'S ALL A PONZI SCHEME WHEN ARE YOU GOING TO UNDERSTAND THIS?!

>>49580813
>This will be crypto’s first recession in
No it isn't.

>>49580840
No.

>>49582870
The Fed has no control over interest rates.

>>49581318
>african miners dont cost much
We have more gold in Canada and South America than Africa.

>>49586553
>>49586748

Its called digital scarcity. Its the fundamentals of all crypto and bitcoin. Bitcoin being the most decentralized, the most secure, it has the most strength as a digitally scarce asset.

If you own 1 BTC, you have 1/21 million. It doesn't matter if you bought it last year or today, you still have 1/21 million. And the same next year. There is 0 inflation. And your share of the pie can never be diluted to fund wars or bail out banks.

The price can be volatile in the short term, but there will always be 21 million bitcoin compared to an ever increasing supply of dollars. Bitcoin is a mathematically proven inflation hedge - in the long term.

>>49587496
Good god you're fucking stupid. Scarcity doesn't mean shit if the thing that is scarce is worthless. My shit is unique and also scarce, but I don't see anyone lining up to buy it.

>>49580955
> thanks for contributing nothing to the discussion
you've just described every retard in crypto. at least now we won't have to hear about your fake money all the time which is GLORIOUS.

>>49580143
So is gold

>>49580023
It's a glorified stock with less market regulations.

>>49587596

Your shit is not scarce, you can shit more, and its not verifiable, its not durable, its hard to transact, its not fungible, etc. etc. Its not money. That's a stupid argument.

>>49581420
no they don't, they lower the rate of dollar creation

>>49582443
Proof of waste = I burned something tangible so you better give me some money if I do it again

>>49582908

>>49582443
>>49587631
gold will always be a real object with real uses
bitcoin has no unique utility and it's value is entirely in the perception people have of it

Internet funny money has zero practical uses while Gold actually does

>>49587729
>you can shit more
You can also mine more bitcoin.
>and its not verifiable, its not durable, its hard to transact, its not fungible
True, but irrelevant. These are necessary properties of money, not what gives it value. What gives money value are the goods and services circulated with that money. The exact value of each unit of money is what is necessary to circulate the total amount of goods with the total units of money in circulation. This is basic economics. But memecoins aren't used for trade, except for a negligible amount used for drugs and illegal services. Therefore the value of each Bitcoin is almost zero.

being a store of value in the long term doesn't mean you can't get dumped on in the short term, obviously. nobody ever said bitcoin is a store of value because the price will never come down. they say its a store of value because even if it comes down it will come back up again to where it was eventually. whether you agree with that or not i don't care, but that's the premise you're arguing with. not some strawman premise where the price going down in the short term somehow disproves the entire thesis

>>49580130
>pmfag
Oldfag here, what's a pmfag again? Prestigious Mongoloid Fag. Oh, precious metals, my bad

>>49580023
BTC is a bet on liquidity from the Fed not digital gold, its correlated to the NASDAQ

>>49580023
So... You know that Bitcoin is based on USA dollar right? Inflations literally chomps away it's value as the crypto coin volumes become more and more irrelevant

>>49580023
>gold doing fine
lol down 2%

>>49587973
>You can also mine more bitcoin.

A little, but there is 19 million now, and will only ever be 21 million increasing over the next 100+ years. Compared to the dollar with is increasing exponentially at a rate far more than 10% a year.

>What gives money value are the goods and services circulated with that money.

No shit, so your claim of "no fundamental value" is wrong.

I get the argument for bitcoin as a value store in its scarcity and deflationary aspects, but I don't see anyone should call its particular value correct at any particular number whether 23k, 60k, or 700k. It all seems quite arbitrary. Maybe the ATH is already in the past or maybe not. What possible way is there to know?

>>49580023
How retarded do you have to be to believe bitcoin would retain value like an actual real world object like gold?

>>49587909
It's fucking currency, kek

>>49588396
Scarcity

>>49580023
Bitcoin is literally a spook. The USD has the largest military in the world to back it up, that's what I call tangible.

>>49585654
The volatility was not because of BTC per se, but, at least the recent volatility was due to inflation caused by covid and fed pumps.
Crypto is a wider index of TECH stocks which are also falling because of inflation as well as everything else. The whole economy was pumped up like some kind of freak cock in a Italian porno.

>>49588341
This. BTC's price is arbitrary overall, with big buys/sells influencing its price and small buys/sells have little or no effect on it.

Y'all should sell every crypto u own and get out immediately. Sell everything. I'm trying to slurp

>>49588300
>maybe $10 million in goods and services exchanged with bitcoin worldwide
>500 billion dollar market cap
Almost the entirety of the current market value is from speculation. If the 10 million figure I pulled out of my ass is correct, it Bitcoin should be worth maybe 20 cents.

I'm old enough to remember when /biz/ said crypto would do great with high inflation..

>>49580023
The dollar is unironically going up.
Look at dxy chart

I figured out the tether connection to BTC. This is how it works.

>significant increase in tether's price over $1 will result in immediate or delayed increase in BTC's price over at least 1 week
>significant decrease in tether's price below $1 will result in drop in BTC's price or sideways movement for at least 1 week

Explanation: Insiders change tether's price for their friends. If you know BTC's price is increasing, by increasing the price of tether over $1 you are making the tether more valuable and thus you can purchase more BTC with tether closer to $1.01, $1.02, etc. On the other hand, when insiders know BTC is going to dump they can lower the price of tether for their friends closer to $0.99 which means when they sell, they will actually get more tether than they would if it was stable at $1.00 and so they will be able to buy back more in the future.

The end result: BTC's price will always go up. Now is the time to buy if you look at the recent tether dip and recovery.

>>49589844

dxy is dollar vs other fiat. They are all falling in real value. Lots of FUD. Lots of retards selling everything. Inflation isn't going away through. And when people realize that all the idiots that sold for depreciating fiat will have to buy back in, probably at way higher prices.

>>49580023
The only reason people hold BTC is to make money.
The only reason people hold BTC is to make money.
The only reason people hold BTC is to make money.

>>49580130
Gold is dogshit.

>>49582443
Is this bait?

>>49583516
Kinda funny how banks allowed it.

>>49589969
If its going up against other fiat, its going up against bitcoin as well. Otherwise there would be a free arb in the market by routing through forex.

>>49583594
In theory it should have. But when money that is in bitcoin is from loan. Its no way worse agains tinflation then fiat currency

I think from 50k to 22k in some months is too much to take

Bears please give me some green up to 30k I will remove all.my bitcoi

REEEEEEEEEEE

>>49590019
>>49580130
looks like putler won trannybros

>>49590114

The DXY has nothing to do with bitcoin or other assets. Its a comparison of the dollar vs other fiat. Assets could be mooning against the dollar and the DXY could still be strong because the dollar is the least shittiest of all fiat.

>>49590223
>buy rooble coin sir on yotbit sir

>>49587496
Digital scarcity. Look at what you’re saying, brother.

>>49590413

That's why its so valuable. There has never been a way to prevent duplication of digital assets before blockchain / bitcoin.

>>49580023
Bitcoin preceded inflation you moron.

>>49583955
More like /biz/ turns into middle India whenever the ponzi scheme bullrun hits. Nobody will be singing this tune when we are out of this bull market all of you retards ITT saying " I told you so" will be aping back in cause your avaricious retards

>>49580023
I have zero interest in ever buying gold, or any other precious metals
I will only ever invest in ETH and LINK
I don't care about any other investment opportunity
>20 years in software
>stocks that don't pay dividends are ponzis
>stocks that do pay dividends are overpriced with boomers
>fuck greedy boomers, I'll never be you exit liquidity for your retirement

>>49580601
Crypto aren't some fucking scam anon, when you book your airplane tickets from over 650 biggest airlines in the world and pay with crypto using Utrust.

>>49590266
Yes DXY doesn't track bitcoin, obviously.
But you are misunderstanding what it represents. I can't teach you im sorry

>>49580130
I'm still laughing at them. The price of gold literally hasn't moved in 10 years. So why would I buy it when I can just hold cash and get the same exact result?

Every nigger ITT posting about bitcoin not being a store of value either has bought or will buy in the future if you aren't buying now.

Unless your willing to forego it entirely I don't think anyone should be questioning Bitcoins value as an asset like gold or silver.

>>49580130
Kek fpbp

>>49580023
Btc is a speculative asset in the tech sector. Speculative tech stocks do really bad in economic recessions when people want trust worthy tangible goods

>>49580023
Turns out bitcoin is not digital gold, it's actually eternal tulip mania.

Because there are no fundamentals, physical goods and delivery requirements, bitcoin can keep going after crashes and just remain the goto tulip mania in town.

The market will never need another fad asset again.

Zoom out

>>49587631
>>49582443
When they start making satellites and spaceships out of bitcoin ill start paying attention.

Because unlike BTC that has zero value , gold is an universal store of value since the dragon age you tard. get fucked you crypto chuds

>>49583642
Imagine if you had a vital job and a house right with little or no mortgage right now.

>>49591033

You can't because you're an idiot who has no idea what they're talking about.

>>49580023
BTC is controlled by the banks at this point and therefore it's just a playball for easy pumps and dumps. As soon as they milked everything out of all the poor shits which hoped to get rich by BTC they will kill it. BTC started with a good vision, but the dumb people ignored it and the potential freedom, so the banks took control over it.

Cash is still king, doesn't matter that it loses 99% of worth over time, at least you can still use it. BTC will die and the only coins that will survive are centralized communism coins like the future crypto dollar or crypto euro. At least it's funny watching all those poor fucks and their dreams vanishing in front of their eyes. It's always beautiful to see when hope dies.

>>49591349
Seems like its time to sell. It was high now its plummeting.

>>49580595
This. Is. The. Credited. Response.

>>49583642
>imagine if you can get rid off your gold as fast as BTC right now
ETFs or if you're rich enough deposited london good delivery market is liquid as fuck.

Physical stackers are only relevant to the minters/assayers and coin shops.

>>49581420
> ok everyone, I have just doubled the amount of dollar bills
> but I want you to treat them as worth the same as before!
Bitcoin was invented exactly for this.

>>49580023

Bitcoin is fucked because its useless and the people who back it are looking for quick wins. Think about it, people see its crashing, they throw their money in it thinking they can make money out of thin air like everyone else, its 100 percent speculation. People who put their money in it deserve to lose everything and from the looks of it they are. Go learn something useful, stop trying to make money while doing nothing. That's why Bitcoin and all the other useless cryptos are down. Even the Silver fags are doing better than the crypto fags, can you believe that? lol. also people who are putting their money right now, they too have this false idea that they will double their money in 6 months, dumb retards. Its going to take years, if ever, the hard part has not even started yet.

>>49580023
The real answer is excessive margin and leverage. Probably half the price of buttcorn is fueled by loans. Hell I remember on reddit some faggot student put his entire student loan in a defi pool and lost it all

You can only tarnish something so far before people stop investing in it. This crash will just show that crypto in general is a horrible place to put your money in, that trust will be gone forever. You could have held your money in literally anything else and it would have held most of its value, magic the gathering cards, vintage video games, hell anything is better than if you would have put your money in crypto. Its literally air, no shit its going to crash hard. No more making easy money, its time to go work like everyone else, im talking directly to the crypto fags, this idea that you can live forever while all you do is speculate, well the time has come.

>buy a house to live in
>it goes down in value but you arnt paying more
>you still have the house you want to live in.

What happens when bitcoin goes down in price?

>>49580023
You bought imaginary internet money.

>>49580023
Wall Street is dumping their bags to avoid margin calls.

>>49583768
Do you people think “store of value” means “doesn’t fall with the rest of the market”?

>>49580130
Nah, I'm still laughing at your boomer rocks. Tick. Tock. Boomers dying out.

>>49592434
some millennials think that Bitcoin is "inflation-proof" and that when inflation happens, the value of Bitcoin goes up because the value of a dollar is going down

>>49580023
/BIZ/ TOLD ME 30,000 WAS THE NEW FLOOR WTF?!?!?!?!?!?

I knew crypto would fail when countries like El Salvador came to its support. It just poisons the well around crypto.

>>49592434
Thats what a good store of value does, like Gold.

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>>49580130
Sorry for the mass reply.

>>49580207
and you will never see 3k ever again

>>49580023
Bitcoin is a liquidity sponge. When liquidity dries up, so does Bitcoin.

>>49580023
perhaps it's storing 2000$ in value per coin and the rest is speculation. did you consider that?

>>49589384
morron feels good for some shitty quotes
Why not The goal of BTC and all other cryptocurrencies to be able to use them for everyday life. Today you can buy Tesla, a flying ticket an iphone, or something else. WithUTRUST in the future, we will be able to use it in ordinary grocery shopping.

If it reaches 30k again I don't care about profit

I'm fucking selling

This shitshow will end badly

>>49592924
Smart plan. Get the fuck out of this shit before it goes belly up

>>49593045
>>49592924
The shill bots have flipped to encourage panic seller mode.

>>49592696
No, it is not. Take a quick peek at 2020, gold fell with everything else.
When the market is going up and people make profits, they use some of those profits to buy gold/bitcoin. When the market goes down, people sell off gold/bitcoin too. The idea of “store of value” and “inflation hedge” is that it’s something people use as a fixed part of their portfolios, so when other investments go up you have to buy more gold/bitcoin to keep them at, say, 10% of your portfolio. When everything else goes down, you have to sell your gold/bitcoin to keep it 10%. Simple as.

>>49593605

Bitcoin was below $6k in 2020. Look by the time CPI says inflation is high, it has been high for years. Bitcoin responded perfectly to the money printer in 2020 and 2021 and no perfectly when the fed is tightening. And its a great inflation hedge because you can buy it at a huge discount right now and make insane returns when the money printer gets turned back on later this year.

>>49580624
good morning sir

>>49592696
Gold didn't even beat inflation over the last decade. Great store of value indeed. I trust I don't have to tell you what bitcoin did in the same time period.

>>49580023
its physcially harder to sell gold. bitcoin you just press one button. just like housing never crashes hard in one day, it takes a lot of time to sell.

>>49580023
>what happened to BTC being a store of value and digital gold?
OH NO NO NO NO NO NO HE ACTUALLY FELL FOR THAT LINE

>>49580023
Because bitcoin has no intrinsic value you retard, gold does.

>>49595310
there's more things i could use crypto for right now than gold

>>49582908
When's the next time btc will do a x1000, kind sir?

>>49592703
i hope your entire dumbass family perishes in 4 separate car accidents you faggot

>>49580023
If you're worried about your power staying on, who gives a shit about eBucks? You'll need something physical to trade.

>>49580023

Gold has not performed well at all.

All the money went to oil and other commodities.

>>49587909
>gold will always be a real object with real uses
Other than Jewellery it's literally not using for anything
>inb4 muh electronics
Used in microscopic amounts that don't account remotely for its value.

>>49580130
I used my crypto gains to buy a larger pm bag than you will ever see in your lifetime. Imagine fading the fucking bullrun. Retard.

>>49580130
Based

Imagine being wealthy only if there is power and electronics available.

it's 13 years old and you can't do nothing with it, it doesn't have stablecoins, it doesn't have a dex. its a slow and old spreadsheet that lying btc maxis shill. they sell you a scarcity meme, btc is centralized. 42% of the supply sits in 2k wallets, alot of those wallets take custody of your coins. shif is centralized af, the transactions are toooo slow, btc had 2 inflation bugs and that means it could happen again, btc has no security audits, 0.1% of the miners controll 50% of the pools ( 0.1% controll the inflation = new minted btc they're not holding but dumping on your head).

Bitcoin is old garbage and most users use eth or other cryptocurrencies. The best days are over. Sorry bitconers but your gains suck. My money isn't safe in btc, i could be a victim of another inflationbug.

>>49595986
I shitpost therefore I am.

There is no wealth without power and electronics.

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Based

>>49580130
laughing hard
crypto fud rejected, just bought another bag of API3
watch me make it shiny boomer rock faggot

>>49580023
>what happened to BTC being a store of value and digital gold?
Monero is a store of value due to its tail emission, bitcoin not so much.

>>49580023
Bitcoin is the modern day equivalent of the shiny glass beads we ripped off the Indians with when we scammed them out of all their land.

You've been had, kemosabe.

>>49580023
That was the narrative they fooled you to believe, same goes with HODL.

>>49580023
Boomer institutions think it's a tech stock because they're boomers. It's a phase that Bitcoin will grow out of once all the boomers die.

>>49596348
For any newfags reading this don't worry, it's total bullshit

>>49580023
Bitcoin has no real world utility, we don't need blockchain (a slow as fuck distributed database).
It's a speculative asset with no fundamentals other than the idea that a bigger fool will pay more.
Cryptocurrencies will go down in history in the same way tulips did.
Disclaimer: 90% of my crypto is in BTC and I've lost thousands today.

>>49580023
Goodmorning bitniggers, the whitepaper says: digital cash

Any other failed narratives after this chain went to shit were cope to make you ride the pump and dump

>>49582471
AHAHAHAHAHAHAHA

It's just 1s and 0s on a computer.

>>49580207
and it's going back

>>49596953
Kek, buy more metaverse gems like TRIAS and RFOX and stop fucking around with shits. API3 is going to zero.

>>49597186
It is still nothing compared to SCRT. It uses TEE to execute smart contracts and keep everything private and encrypted. This is different from any other.

Putin will save Bitcoin any day now
He will announce Russia Central Bank has been decreed to dump their EUR and USD for BTC and only accept BTC for gas from unfriendly states

>>49598241
>Goodmorning bitniggers, the whitepaper says: digital cash
I don't understand why people aren't getting this CORE CONCEPT. Just because something is difficult to move doesn't make it valuable. Bitcoin is at the value it is because it was actually USED for pizzas and transfers and DNM purchases.
If some no-name cryptoCURRENCY came out today and said you needed to pay $5 to move any amount around, it'd be considered garbage.

>>49592338
I don't give a fuck of what you say anon, when I can buy an Apple iPhone,Gaming phones and do my shopping and Pay with UTK EGLD BTC ETH USDC USDT.

Bitcoin failed as a currency in 2013. MtGox hack.
Bitcoin failed as store of value in 2017. Futures markets.
What bitcoin have failed now?
Absolutely nothing. It is already a failure, but it is a profitable failure. Only newfags are being fucked this time.
The only thing that failed this time was the StF model. And before it, McAfee's prediction for the end of 2020.

>>49580685
To be fair, those people probably couldn't afford to have put much away so the huge price shifts won't be by them. Only whales can bring down prices that steeply.

>>49600432
Imagine the cope of natotards if this happens.