/biz/ - Business & Finance

>>49892540
Say what you will about Schiff, but he isn't a complete idiot.

He's right about BTC, but wrong about Bitcoin (Ticker: BSV).

>>49892564
Fake transactions dont count faggot

APOLOGIZE

>>49892540
>bitcoin pays dividends, try Celsius
can't believe Schiff looks like the reasonable one here, jesus Christ

is Celsius bankrupt yet?

>>49892540
Even when this debate aired, he got totally schooled by Peter
Never seen Shifty Schiff so mad before

>>49892622
LMAO he had no answer for how he was paying out high interest on BTC with apparently “no risk”
No risk to him lol

Pray for all the over-leveraged Moonbois who are getting sucked and fucked atm

>>49892635
Deposits will be enabled in 2 weeks

>>49892540
Wow Schiff was 100% right..

>>49892594
>Fake transactions
No such thing. They are paid for and executed.

>>49892540
Attention all Celsius, Nexus and Bancor whales:

The Great Reset has come at a crossroads with humanity. We can not allow the WEF & the young globohomo leaders to manipulate the markets any longer with their fake wars and gay market crashes. In order for the Golden Bullrun to resume, Chainlink(ticker: LINK) needs to be destroyed.
/biz will declare WAR on Chainlink next week and send globohomo a message.
You heard it here first. Linkies will be financially exterminated. Participation is mandatory btw, proof of short will be required to post on /biz. I repeat everybody will have to participate.

Spread the word and prepare your shorts. It's finally happening... The Great Short is upon us lads.

Schiff is absolutely wrong about inflation and gold but he is absolutely right about crypto.

>>49892540
wtf based schiff

>>49892701
check'd

>>49892834
I'm retarded. meant for >>49892777

>>49892540

Anybody with half a brain or that has been in the game for a while knew this guy was full of shit when he wouldn't explain how he was earning interest on his crypto.

>>49892641

Schiff was pissed. If you watch the entire interview, the moderator was really trying to backup Mashinsky as much as she could. Kitco really started swallowing the crypto bullshit over the last 2 years, especially after Danielle left. Which didn't matter since Stansberry pushes the crypto bullshit too. Neither of them are as bad as CNBC though.

>>49892721

He's right a lot more than what people actually give him credit for. His calls on QE/QT and rate hikes have been like 95% accurate over the last 5 years. People want to rip on him about gold going to 5,000, but that was just one call he made like 14 years ago.

>>49892813<<

>>49892957
I’m blown away that people looked at shit like this and thought it was totally fine and a safe place to keep their money.

>>49893021

I'm not even anti-crypto, but it's obvious the vast majority of them are scams. The ones that are more serious (like Filecoin, which I have a bias towards) are almost completely ignored.

Mashinsky not willing to explain how he was earning interest on his crypto should've been the only red flag you needed to get out.

I also don't get why people thought cryptos wouldn't crash if interest rates were raised. It seemed pretty obvious to me. It's only an "inflation hedge" so long as interest rates stay at 0%.

I want my linkies back

>>49892733
>supermarket has employees scan same item a bazillion times
WE ARE RICH AND MAKING SO MUCH MONEY!!!

2 kikes fighting it out to see who can scam the most people
europac just loses money

>>49892734
Anyone who does futures is a degenerate gambling addict and deserves to get rekt.

>>49892957
>People want to rip on him about gold going to 5,000, but that was just one call he made like 14 years ago.
gold is still set up to do that, but it will obviously take greater catalysts than peter cares to mention. trust in the fed goes a long way, because so many people can't feel how they're losing and falling behind when their portfolio returns 12-15% in a year. they can see that, no matter how much the fed and the government lie about inflation, the actual prices they pay for stuff just didn't go up more than their returns did. incredibly powerful market forces are still on their side.
peter does no analysis of this at all and he's said since then, in so many words, that's the part he didn't expect. he didn't anticipate anyone would believe the fed because the lie is so big, he didn't anticipate the money would flood stocks and not real goods, yet again. his thesis is "everything bubble."
everyone will see that it's more correct with each passing round of QE as the middle class falls off. there will be less investment over time. but it's been 50-60 years since this started and it could stretch like a hundred years, our technological progress, still largely unhindered by government regulation, is capable of generating inflation-offsetting returns for a long time.
the market is more powerful than the government and the fed.

>>49893159
>>supermarket has employees scan same item a bazillion times
>WE ARE RICH AND MAKING SO MUCH MONEY!!!
That is not an accurate comparison.

It'd be more like that my scanner of type BSV can scan 21m items per day, but yours of type BTC only 300k as it is slower. At the same time, because I scan more items I can offer a cheaper rate per item.

>>49893277

I agree 100%

As someone that has listened to Peter for 7 years straight, I'm quite aware of what he does and doesn't know and what he implies and doesn't imply.

Most people losten to him for 5 minutes then start ranting and shitting on him without knowing his true positions.

Peter plays for the "End Game", which is why he doesn't even manage his own gold fund. Adrian Day manages it and if you've ever listened to Adrian Day, he quite aware of how the market shifts. Even in his last interview he said gold stocks sell off when the market crashes, which is true, but that they also recover much quicker, which is also true.

That's why Adrian manages the fund. He plays the game to win each quarter at a time. Peter plays to win, period. Peter can lose 3 quarters, but come back in the 4th. If that makes sense.

>>49892540
>bitcoin pays a yield
How?
>it pays 6% dividend
How?
>Any asset can pay a yield
How?
>we pay a 6% yield
How?
>I am allowing people to unbank themselves
So I glad I never put anything into these scam companies.

>>49892540
Damn this Celsius dude its sketch. Crazy how people missed this.

>>49894053
Yea dude fell apart here. Peter is based.

>>49894053
I mean if people don't have money they don't need a bank lol

>>49893334
youre really smart. unfortunately youre so ahead of the industry and thats why youre poor.

Peter Schiff has been talking about buying gold miners for more than a year and if you bought gdx on his advice you are down

if you listened to peter schiff you would have missed the whole post covid nasdaq rally because he has been telling people to get out of US stocks and especially tech forever

point is he might know a lot about the economy but dont listen to his investment advice all he does is shill gold and miners nonstop

>>49892564
>he isn't a complete idiot.
he is and so are you

>>49894384
As I said, he is wrong about Bitcoin, but correct about BTC. BTC is pure speculation, it has not fulfilled any promises in terms of technology.
>>49894284
picrel

>>49894384
I wonder how much it costs marathon digitial to mine a BTC? especially now that energy is 70% more expensive. surely the entirety of the decentralized server providers (miners) will flock to a different blockchain once theres no profit margin

>>49892540
she's cute.. nudes?

>>49894420
Kill yourself

>>49894420
>BTC is pure speculation, it has not fulfilled any promises in terms of technology.

Not true if someone in Cuba or North Korea or Russia contacts me for BTC and posts his BTC address, I can send him BTC. The US can't stop it, nor can the network itself censor the transaction.

That in itself is a very powerful feat.

>>49892641
Nobody has lost a debate against Peter. Peter works with inevitabilities while the common man works with the present and hypotheticals

>>49892540
Schiff's argument for stocks is they pay dividends.
So basically he's shitting on gold lol

>>49894337
You don’t have to and shouldn’t listen to everything he or anyone says but this interview was more about what the Celsius nigger didn’t say which is how they generate a yield.

>>49894337

Two years is too short of a time to judge the Nasdaq trade. It's been in an obvious bubble since 2018 but when it will finally die is anyones guess. Similarily the US market has been in a bubble since 2014 but when it's going to end is anyone's guess. What we do know for a fact is that paying insane prices for stocks always ends up hurting you. But when the pain comes is impossible to say.

>>49895667
His argument for gold is that it is a store of value and a safe haven. He said his own portfolio is only like 5-10% gold because he prefers to have the bulk of his money in incomes generating assets.

>>49894053

Lending it to shorters for % a week?

>>49896024
>His argument for gold is that it is a store of value
Anything that doesn't rot can be a store of value.

>>49896035
1%

>>49896035
Clearly Celsius wasn't shorting it since they are insolvent now that price is down.

Why did I give all my money to fucking Oscar from Hey Arnold?

>>49896045
Gold doesn't rot over millennia. Name any other commodity that retains it's intrinsic value for that long. Go ahead. I'll wait.

>>49896216
Stone.

>>49892701
Thank you. I've got a lot of shit on Celsius and was getting nervous. Fucking shit

Test

>>49896258
It is so abundant that storing any significant value of it would take up too much space.

>>49896430
>hurrr it's valuable because it's scarce
You mean like Bitcoin?

>>49896340
You are Lima Charlie send it

>>49892564
pic rel is from 2018

>>49894420
>BSV shill
almost as pathetic as retards defending HEX

>>49892564
>he isn't a complete idiot
No he's a gold salesman. Which is why he keeps shilling gold no matter and keeps attacking alternatives to gold, no matter what. He's never going to change his view, he's a salesman. If he really believed in gold, why would he be selling it?

>>49896258
Depending on what it’s made of it can degrade or change its attributes over time

However Jade was and is used in similar fashion to Gold in Asia
Stone is not as durable as gold however since gold can be melted and re-cast while stone can chip and break irreparably.

>>49896737
But it doesn't do anything.

>>49896717
>If he really believed in gold, why would he be selling it?
Many stackers become flippers or dealers because they learn how to buy low and sell high. People interested in gold as the core foundation of their economic system are generally more than happy to talk about and teach others about the benefits of a gold backed monetary system. His zeal is as much ideological as it is for his own livelihood.

>>49892540
If you don't own your coin on your own wallet you legit deserve getting raped by central exchanges

>>49895287
>Not true if someone in Cuba or North Korea or Russia contacts me for BTC and posts his BTC address, I can send him BTC. The US can't stop it, nor can the network itself censor the transaction.
>That in itself is a very powerful feat.
That's mostly powerful if you want to circumvent say sanctions or law enforcement. Which means fuck that. Most people don't benefit from crime, idk why the dumb NPC masses support it lmao

>>49896651
its from 2022 april
https://bsvdata.com/applications

>>49895946
>What we do know for a fact is that paying insane prices for stocks always ends up hurting you. But when the pain comes is impossible to say.
more like paying or stocks always ends up hurting you. I bought miners when commodities were already at all time low in respect to equities and my portfolio is still completely JUST. I wish I never took interest in economy, investing etc. and just remained completely ignorant to it all and keept all my money in the bank

>>49896800
Its immutable and endures forever even in space
Its qualities make it unique among natural materials
Its also useful for various industrial and consumer applications beyond this.
And it has historical precedent, not to mention instinctual attraction for humans as we are meat androids designed by the Annunaki to mine gold

>>49897240
>Its immutable and endures forever even in space
>Its qualities make it unique among natural materials
So are virtually all precious metals.

>Its also useful for various industrial and consumer applications beyond this.
Not really.

Gold has value for the exact same reason as Bitcoin: 99% pure speculation.

>>49892564
bitcoin cant have a ticker since its not a stock
amateur hours or what kiddo

>>49897301
Most precious metals tarnish or are available in too small of quantities to be useful for currency/investment

>>49897380
>useful for currency/investment
In other words: "useful for giving value out of thin air, simply by virtue of general consensus".

>>49893172
This. If you can't wait 8 hours to see the squiggly lines move again, you have a fucking gambling addiction