/biz/ - Business & Finance

So gold is worthless also because there's dozens of other rocks you can mine right?

>gold is revolutionary because there will only ever be a fixed amount on earth, forever protecting us from inflation
>enthusiastically supports dozens of derivatives creating thousands of times more """gold""" at a rate exceeding FIAT printing

>>49964203
There are 2.1 quadrillion satoshis, meaning the supply is far higher than all fiat currencies combined. Bitfucks are retarded NPCs.

>>49964203
Demoralizing shills want to blur the line so they can install the commie state currency kys

>>49964203
Finance and economics are pseudoscientific make believe garbage, capitalism is inherently unstable, exploitative and unsustainable with a built in expiration date. All finance assets like money,crypto,debt,bonds etc are purely parasitic in nature and serve no purpose nor have any inherent value and private property is theft. Ever escalating recessions, poverty, inflation, disease, pollution and wars are fundamental and necessary functions of it and every single financier or crypto dudebro is a literal parasite.

Your hated "enemies" you obsess over like the "poors, commies, women, niggers,wokes, letfoids, rentoids etc" dont even need to revolt. We know far too well that even buissness as usual is good enough of a revolution at this point. Very soon the inherent contradictions of capitalism will reach a boiling point, parasites like 4channers and other rightoids will be euthanised and mother Earth will heal

I think the finite supply is hardly the revolutionary component. I think that decision had to do with the fact that initially it may not have been clear whether bitcoin would acquire ANY value at all so the deflationary aspect was meant to ensure that someone found it obvious enough to acquire some for fiat.

The revolutionary part is solving the double spend by distributing the ledger over such a wide network of participants.

Tail emissions are probably better though from a "keep the miners mining" (and the network running quickly and cheaply) perspective I would have to assume. Who knows.

>>49964316
why are communists always so violent in their language.

and how come people actually working are never communists? all this talk about the working class but most of ya'll live on some relative's money or make youtube content using the fruits of capitalism (computing technology) while helping Google build a real time data map of your movement to ensure it can never gain revolutionary status.

What's up with that?

>>49964352
Braindead strawmanning and personal attacks again because as usual rightoids have 0 arguments and capitalism is undefendable.

"Fruits of capitalism" MuH muh SmArTpHone. The only fruits of capitalism are slavery, poverty, pollution, disease, torture, war and extinction.

Keep deepthroating the boot obedient, compliant, submissive and insecure red scare boomer wannabe pathetic parasite you will all perish soon

>>49964316
>Even buissness as usual is good enough of a revolution
This is why I know this is larp, commies think they live in a fascist state.

>>49964203
Bitcoin is revolutionary because i can make money where other people are waging, i don't fucking care about the tech and im not so stuck up about a certain coin to defend it till death, that's why its important that we keep things cool
We are in it for the money, it's always been like that, stop acting like you're fucking investing on einstein, you're not. Now, take this easy x5, go kucoin

>>49964243
>>49964265
gold is not a currency retard. It also has unique properties.

>>49964740
People have been able to profit from flipping stocks/assets for over 300 years. Hardly revolutionary.

I can't believe I was a dumbshit who actually used Bitcoin as a currency back in 2012 instead of hodling for lambos

>>49964452
>The only fruits of capitalism are slavery, poverty, pollution, disease, torture, war and extinction

>>49964203
And most of these new coins have died or will die. While the top coins have most of the market. So print a million shitcoins it doesnt matter the market cant support them and they die. Most of the survivors will be the fittest and usually have something to offer that is complementary to bitcoin more so then competitive with bitcoin.

>>49964203
one thing I don't understand about bitcoin is they all pretend to hate fiat and money while staying neurotically fixated on the price and charts all year round. It has got to be the greatest exercises of dissonance I've ever witnessed.. Like a form of madness

>>49964841
Yes? That proves the point. all the value put into 99% of cryptocoins eventually goes to 0 due to inflation.
Even for the 1% that is left, billions of new coins are printed at a rate exceeding FIAT pinting
thanks for playing.

>>49964952
Fiat dollars remain in circulation. Dead altcoins do not.

>>49964991
Dead fiat is also dropped from cirulation retard. It's just that it happens literally every day in crypto and maybe every 10 years in fiat.
and you STILL desperately avoid the fact that the remaining 1% of crypto still has a higher printing rate than fiat.

>>49964799
Imagine still doing red scare in 2022. It doesnt matter anyway eveyone is slave right now the difference between communists and "capitalists" (btw 99% of so called capitalists are not really capitalists since they hold no property so jusr bootlickers) is that rightoids are also self hating and proud slaves

>>49965030
Everyone is a slave because you red commie fucks teamed up with capitalists to defeat the only real opposition. Imagine being retarded enough to be a commie and still calling other people bootlickers.

>>49965030
>save me capitalism!!!
>you're a bootlicker though!!!

>>49965023

The top 100 cryptos have over 90% of the money. Whether the remaining 10% is distributed amongst 10000 coins or a million who cares. Print a hundred billion coins and they would all have a market cap of one dollar in todays market ie theyd all die. Doesnt matter how many altcoins you create the market wont support them.

>>49964203
bitcoin may have finite supply (which i dont believe), but it is also endlessly divisible. so it is the same as fiat

>>49965101
The top 100 cryptos have over 90% of the money.
and you STILL desperately avoid the fact that the remaining these have a higher printing rate than fiat.
Also the top 100 is not static retard, most of them inflate to 0 value over time.
GG

>>49965116
Endlessy divisible in theory. Currently divisible by 8 decimal places. More then that would require consensus of the network and also it would require the blockchain itself to store the additional data of more decimal places. I dont see why the network would vote in favour of that if it deflates what everyone is holding while at the same time making the hardware work harder to secure the chain. At the very least we would be years away from that happening and by then bitcoin would have a market cap so large that it would already be well over 10 million a coin since youd have no reason to do it unless the smallest sat was worth more then 1 cent

>>49965149
Doesnt matter because the market share is finite irregardless of how many altcoins are printed. Who cares if most of top 100 die thats a good thing, survival of the fittest. The too 100 today is a lot stronger then it was a few years ago and will be stronger still a few years from now. But not all of them will die the trick is picking the right ones.

Im not avoiding anything just struggling to understand why you think a million altcoins nobody will buy is some dire risk to the market

>>49965257
>market share is finite
Yes? That's how it is with FIAT too retard, good self own.

>>49965224
none of this matters since most crypto is not bitcoin retard.

>>49965049
Imagine using imperialism and colonialism as an argument in favor of capitalism. Yes i know capitalism needs to expand because it shares the same functions as a cancer cell. This is why you invade other lands and subjugate everyone and everything. Not sure what you are trying to argue here. Amerikkkans really think they are "liberating" people with drone strikes huh. Damn you parasites are actually schizophrenic

>>49964287
but satoshis are just an arbitrary fraction of bitcoin. they are 10000000000 quadrillion sextillion poggistanis of the USD. how can I be so certain? because I just made it up.

>>49965267
Printing more fiat makes fiat less valuable. Printing more shitcoins does nothing because they all have to compete for a minor one digit percentage of the total crypto market cap anyways. Whatever coins are fit enough to rise above that bring something to the table that thr market decided has value. Printing more dollars and making a million shitcoins are two totally unrelated things.

>>49964243
yes
and those rocks are worthless too

>>49965307
>and you STILL desperately avoid the fact that the top 100 crypto has a higher printing rate than fiat.
3 strikes and you're out. You're unable to have a rational conversation. Bye

there's a new project called script network, it's a good investment opportunity. Gate io already invested into it and it's currently in it's seeding round gathering investors from all over the crypto space. for more visit: https://token.script.tv/

>>49965336
Now youre just being nonsensical and ignoring what i said. Are you being a retard to troll? Or are you testing the knowledge of /biz/ because plenty of people could refute your points but are smart enough not to bother getting trolled

>>49965280
I'm not in favor of capitalism, both it and communism are garbage and two sides of the same coin. I'm simply saying that without capitalist aid, communism would have been crushed by the nazis and the world would have been better for it.

>>49965336
And who cares about the printing rates of the top 100 cryptos, if they print to the point where investors lose money they stop investing and it stops being a top 100. The problem fixes itself.

>>49965380
No matter how many guns you buy or how hard you try to hide know that we will find you and euthanise you nazi parasite

>>49965416

Inflation is too many dollars chasing too few goods. Crypto market isnt inflatation its more like deflation as whatever money is in the market chases an increasing number of shitcoins only its not even deflation because any shitcoins the market cant support die anyways.

>>49965416
you are too young to be on this website

>>49965416
There's only two types of communists. There's the ignorant, the ones that hear the basic premise, figure it's a good a idea and decide to become one. Unfortunately, they are too stupid or too lazy to actually understand the evil behind communism.

And then you have the people who legitimately understand the philosophical foundation of communism but still call themselves communist. They are legitimately evil.

There is no in between, but I'm willing to bet you're on the ignorant side of the spectrum, some 20 year old kid with two years of university under their belt.

Walk away while you still can kid, no good is going to come of you being a dirty commie.

>>49964203
> Imagine not having gold (goldbacks) instead of internet funny money
> Imagine trying to use bitcoin once the internet goes down
>>49964774
https://en.wikipedia.org/wiki/Utah_Legal_Tender_Act

>>49964243
Bitcoin isn't worthless it still has a brand, but its entire existence was to prove blockchain works.
Gold is completely different.
>>49964316
Capitalism is not inherently unstable. The inclination for wealthier, safer societies to interfere with capitalism by injecting socialism, and eventually interrupting the free market process, is where we have problems.
>>49964352
Communists are usually exhausted from trying to make a living while simultaneously destroying the system they believe is responsible for keeping them down. The reality is that this is no longer capitalism. We are absolutely in a socialist society now.
>>49964740
Look no further to understand why money is in crypto... and why it is going to leave when inflation makes bitcoin's purchasing power go down.
>>49964799
Capitalism saved hundreds of millions of chinese from living like actual insects.

>>49965441
careful, that sounds like actual macroeconomic theory and it's not welcome here.

>>49965720
Crypto is worthless as a currency even compared to swift when you compare the TPS and the transactions fees compared to it bruh why should should a even use crypto as a real currency when the currency could go down as much as 53 percent a day.

>>49965874
There is virtually no way to invest in blockchain right now. If there was, i'd probably invest if the prospects were good of a currency I could pay taxes with, and had a fixed stock/flow ratio, or was backed by gold/silver, was on a blockchain.

>>49965874
With greater market cap and liquidity over time it will stabilize, its still a long way off in market cap and liquidity then any national currencies considered stable. This is basic shit google it next time

>>49965920
Less risk less reward. Nothing wrong with having a small risk appetite if you have enough money to worry about losing it. Just dont expect great gains from an investment if youre waiting until all the risk is gone.

>>49965290
Cope, the post

>>49965720
>and eventually interrupting the free market process
I hate this midwit idea. The Free market encourages a stable, market-crushing monopoly. At a certain point economy of scale interrupts the ability for free agents to break into the market. It's not socialism that interrupts the free market, it's the eventual outcome of a free market policy. The best markets are mixed, where you balance regulatory control vs. freedom to invest and move capital around. It's why communism is just as fucking retarded. One gets you state-run monopolies, the other gets you company towns.

3 facts that /biz/ will never accept:
>Low level of inflation (1-2% per annum) isn't bad because it encourages investment and spending.
>Deflation is bad since it discourages investment and spending (e.g. Japan's lost decade).
>Increasing money supply isn't the only possible cause of inflation.