/biz/ - Business & Finance

>>51512730
>You didn't fall for this shakeout, did you?

Where is the real money going to come from to push bitcoin back up to $50k?

>>51512746
1BTC = 1BTC

>>51512730
Y-yeah, of course n-not! It's only the 56th since the ATH - won't fool me!

>>51512782

If you've been holding throughout the entire downturn, why the fuck would you randomly decide, yeah now is the time I will sell, at -80%. Just fucking hold at this point.

>>51512730
>BTC -60% over 1 year
>SPY -14%
>my portfolio +2.5%
what shook out?

>>51512766
>1BTC = 1BTC

Well yes. But its not real money is it.

>>51512746
same place it came from before.

>>51512730
Why would I sell before the holiday pump

>>51513577
>same place it came from before.

it cant come from there any more.

>>51512746
The fun thing about btc is the fixed supply. The halving isn't close enough for anything to happen right now. It will take awhile unless some big dick players start having a dick waving competition and buying up all the supply. The price won't move up slowly. It will crash up violently just like it crashes down.

>>51512730
…yes. ffs FUCK this I just want 17K and I go all in. Please just do it

>>51512730
Check the RSI

>>51512746
inflation

IF YA GOT MORE RED CANDLES AFTER THE SHAKE OUT
THEN WE'RE GONNA MAKE OUT (me and OP's mom)

>>51513603
It just cant ok

>>51512817
You don't understand what money is.

>>51512730
Of course not. If it can be manipulated down, it can be manipulated up :)))

>>51513655
>The fun thing about btc is the fixed supply.

the 'fixed suppy' is a meaningless phrase.

since each bitcoin can be split into billions of satoshis which could themselves carry any dollar value, the supply of this digital trash is in effect unlimited.

>>51514752
>You don't understand what money is.

i understand what money is, and that money is not wealth.

bitcoin is neither money nor wealth. it's a piece of computer code that does nothing.

>>51512817
>He thinks money by decree is real money
Read a history book.

>>51514818
>He thinks money by decree is real money
>Read a history book.

Money is what the government says is money.

>>51514789
Are you conflating divisibility with fixed supply you ultra retard? There will only ever be 21 million BTC. Not that you should care about BTC anyway since LINK is the chosen one

>>51514789
>since each bitcoin can be split into billions of satoshis which could themselves carry any dollar value, the supply of this digital trash is in effect unlimited.

Being able to divide something into tiny pieces doesn’t increase the supply….. I have one cake. I cut it into 4 slices, now I have 4 cakes! I cut each of those into 4 pieces, now I have 16 cakes! Oh my good fortune why haven’t I thought of this before, next I’ll cut my car into 4 pieces and have 4 cars!

>>51514856
>Are you conflating divisibility with fixed supply you ultra retard?

theres a fixed uspply of bitcoins that can be divided into God knows how many trillions of pieces.

therefore saying there is a fixed supply is in effect a lie. there will never be a shortage of bitcoin fragments (satoshis) and those could have any dollar price.

>>51514789
based retard?

>>51514889
>Being able to divide something into tiny pieces doesn’t increase the supply

if you want to own some bitcoin you can own some and will always be able to own some.

the 'fixed supply' shills are just trying to pretend there could be a scarcity.

>>51514809
It’s simply an unbreakable cryptographic token that proves that energy was expended creating it, it’s more real and a better concept of storing wealth than whatever “fiat” is.

>>51514889
>Being able to divide something into tiny pieces doesn’t increase the supply….. I have one cake. I cut it into 4 slices, now I have 4 cakes!

you have 4 pieces of cake. most people will only ever be able to own one or more pieces of cake.

if you have enough pieces of cake you can say you have a whole cake, but having a whole cake makes no practical difference to anything.

>>51512766
=one slide of cold pizza in 2027

>>51514950
>It’s simply an unbreakable cryptographic token that proves that energy was expended creating it, it’s more real and a better concept of storing wealth than whatever “fiat” is.

it's not money and it doesnt matter that energy was expended to create it.

>>51514982
>if you have enough pieces of cake you can say you have a whole cake, but having a whole cake makes no practical difference to anything.

Of course it makes a difference. Having a crumb is not the same as having a cake. Having a tire is not the same as having a car. Having a gram of gold is not the same as having a kilogram.

The only point of focusing on the divisibility of BTC is that as the price continues to increase you will still be able to conduct low value transactions because of the divisibility. That doesn’t mean the supply isn’t fixed

We are healing

>>51515288
>Of course it makes a difference. Having a crumb is not the same as having a cake

you have a piece of cake. someone with a whole cake just has more pieces, that's all.

what special privileges does owning a whole bitcoin give you compared to owning 99.999% of a bitcoin?

>>51515303
Check the chart again

>>51515423
Just sold thanks

>>51515407
>what special privileges does owning a whole bitcoin give you compared to owning 99.999% of a bitcoin?

It would mean you own .001% more of a fixed supply of assets. Put another way, what special privilege would owning 21 million BTC give you? It would mean no one else could own one because it is a fixed supply.

>>51515528
>It would mean you own .001% more of a fixed supply of assets.

you own a little bit more of something that as i have said is in effect unlimited because there are trillions of them and each one could have any dollar value.

>>51515551
Ok you are just trolling at this point fuck off

>>51514809
Read David Graeber's DEBT: THE FIRST 5,000 YEARS and you'll begin to understand what money is and how it functions.

>>51515575
>Ok you are just trolling at this point fuck off

Rude. you cant answer my point because it's correct. There is no scarcity of your imaginary tokens, nor will there ever be.

>>51515604
I’ve answered it repeatedly, you are either too stupid to understand or just trolling.

>>51512813
>it went down in the past so it has to keep going down in the future
No

>>51512730
obviously not OP, I'm holding up perfectly fine

>>51515627
>I’ve answered it repeatedly, you are either too stupid to understand or just trolling.

you havent answered it. you pointed out there is a limited supply of the unit you call bitcoins.

i pointed out that there is in effect an unlimited supply of Satoshis.

so its immaterial that there are only X number of bitcoins. anyone who wants to own some bitcoin will never have a problem getting it. there is no scarcity and never will be.

Im going to be honest I have no idea what is going in.

>>51515604
Everyone who owns any amount of bitcoin has a fixed percentage amount of the total supply, it is irrelevant how divisible it is, although that is part of what makes bitcoin the ultimate asset/currency

>>51515773
>there is a fixed supply of x which can be divided 100 million times to get unit Y, therefore there is no fixed supply of X

You apparently don’t understand how fractions work

>>51515982
>>there is a fixed supply of x which can be divided 100 million times to get unit Y, therefore there is no fixed supply of X
>You apparently don’t understand how fractions work

i have already said that your point that there are only 21 million of the unit called bitcoin is correct.

what i also said was that this is just a means used by bitcoin shills to make people think there could be a scarcity of bitcoin.

there will never be a scarcity and anyone who wants to will always be able to purchase some bitcoin.

>>51512730
>mumu euphoria at $19,200
oh you poor retard

>>51516070
>gold isn't scarce because you can always buy a few grams of gold flakes
bitcoin is worthless because it's energy-hungry ponzi scheme with no inherent value, not because it's divisible

Everything exciting in crypto has already happen.
DEFI was the last thing needed in this space. Nothing else will be invented, since they already saturated every possibility.
you can argue that soulbound tokens will be the next thing. well it won't be since you can't profit from it.
ETH POS was all about speculation. Now its all downhill.
Please SS this. I'm not even kidding. Sold my last 40 ETH 3 days ago.
I'm never touching crypto again. It became centralized and going in the same direction as banks, which they will never swap places.

>>51512746
Why 50k why such a high target
USDC alone has enought money to mega pump

>>51516070
>i have already said that your point that there are only 21 million of the unit called bitcoin is correct.
>there is no fixed supply

>>51516143
What a faggot

>>51516271
its true anon. screenshot it. not even kidding. there is nothing new comming.
L2? look at other chains with fucking cheap txs: they didn't do shit.
nothing else is coming. We hit the marketing saturation. Everyone in the planet already knows about crypto.

You are that dumb if you can't understand this

>>51516239
>>i have already said that your point that there are only 21 million of the unit called bitcoin is correct.
>>there is no fixed supply

editing my post, classy. here's what i actually said.

i have already said that your point that there are only 21 million of the unit called bitcoin is correct.

what i also said was that this is just a means used by bitcoin shills to make people think there could be a scarcity of bitcoin.

there will never be a scarcity and anyone who wants to will always be able to purchase some bitcoin.

>>51516134
>bitcoin is worthless because it's energy-hungry ponzi scheme with no inherent value, not because it's divisible

well that too, i am just saying its a crock of shit what they say about 'only 21 million, get yours now, don't miss out'.

>>51512746
Wage spiral from inflation

>>51513655
Supply is going down hard, both btc and eth maxis have been buying like there's no tomorrow.

Check exchange liquidity on cryptoQuant or glassnode

>>51514900
No you stupid retard, dividing one pizza into 8 slices does not create 8 pizzas

>>51516352
>there will never be a scarcity and anyone who wants to will always be able to purchase some bitcoin.
>use subjective term “some” to avoid fact that the amount you can purchase in the future will be reduced due to scarcity and resulting appreciation of the underlying asset due to rising demand of a fixed supply

>>51515982
> Every dollar I own is infinite

I'm rich!

>>51514950
>that proves that energy was expended creating it
If we could transform bitcoin back into energy it would have them a real value, but since we can't is almost fiat 2.0: tiny pieces edition.

Rusia proved to the world that energy means shit all without the natural resources necessary to produce it, how many bitcoins were produced indirectly with Russian gas? Those bitcoins are inmoral and stained with Ukrainians blood and cum. At the end of the day it's the natural resources what matters, not the energy, money must be based on natural resources since it help us to keep track of our resources

the Kw/h doesn't matter, the coal matters

>>51516483
>No you stupid retard, dividing one pizza into 8 slices does not create 8 pizzas

i dont see any pizza. i only see 8 slices of pizza formed into a circle.

you're imaging things, anon.

>>51516488
>use subjective term “some” to avoid fact that the amount you can purchase in the future will be reduced due to scarcity and resulting appreciation of the underlying asset due to rising demand of a fixed supply

it doesnt matter if i buy 1/1000th or 1/1000,000th or 0.5 of a bitcoin.

there's nothing special about any of it. i would own some bitcoin which will cost whatever it costs.

i actually use bitcoin in real life and of course everyone works in dollars and just calculates bitcoin amounts in dollars a few minutes before transacting. nobody cares about or uses bitcoin units.

>>51516965
TLDR -> the world already knows about crypto. market saturation has already hit. crypto has died forever

>>51516965
>i actually use bitcoin in real life and of course everyone works in dollars and just calculates bitcoin amounts in dollars a few minutes before transacting.
>existence of exchange rates negates meaning of fixed supply

>>51516965
>a market exists for an item therefore there is an infinite amount of that item

>>51517635
>>a market exists for an item therefore there is an infinite amount of that item

i didnt say that. i guess i'll just leave you to your delusions.

>>51516965
>agrees with me that bitcoin is a worthless ponzi
>"akshually I use bitcoin to transact irl"
you're a fucking moron. also I was just larping as a bobo.

>>51517776
There is no logic behind any of your statements, I’m just distilling your rambling bonuses down to its core points.

>there is no scarcity because:
>dividing an item into its pieces somehow increases supply of that item. Or,
>a fraction of a good has equivalent value as the whole good. Or,
>if I can always buy some amount of a good (regardless of increasing costs) then supply is not fixed

>>51517776 #
There is no logic behind any of your statements, I’m just distilling your rambling nonsense down to its core points.

>there is no scarcity because:
>dividing an item into its pieces somehow increases supply of that item. Or,
>a fraction of a good has equivalent value as the whole good. Or,
>if I can always buy some amount of a good (regardless of increasing costs) then supply is not fixed

>>51512730
Absolutely not. I’m going to make it

>>51514900
This line of reasoning is to get people to understand what PERCENTAGE of something they own when they buy, said, 1 BTC. This is what they mean by "Fixed supply".

The Fed can print money, which dilutes the percentage of the total cash you had. This can't be done with BTC after all 21 mil is mined

Been looking at pairs and new stuff to buy on dextools it was very very fun to read the insane panic that happened today lol

>>51516993
It is pretty alarming that such a high percentage of Russians have alreadyheard of bitcoin, and have even owned some.

>>51515894
>ultimate currency
that nobody uses as currency because everyone sees it as a lottery ticket
>ultimate asset
It literally only has brand recognition to distinguish it from millions of shitcoins that can do the same thing.

>>51518426
Bitcoin isn't a good, it's entries in a distributed ledger. The closest thing bitcoin has to an actual good is the network, which is gonna collapse as soon as bitcoin can no longer be mined.

A ton of steel is more valuable than a pound of steel because you can build more things with a ton of steel. .6 bitcoin is no more useful than .06 bitcoin except that it can be traded for more of a currency that people actually use, and currency speculation is about as useful in real terms as jacking off to trap porn. There will never be a shortage of bitcoin until nations that matter start selling debt denominated in bitcoins (not the same thing as denominated in dollars and payable in bitcoin), which they will never do because borrowing in a currency with a fixed supply is utterly retarded.

Honestly it's more likely that bitcoin will get hard forked and the fork that gets the bitcoin name will have the hard cap removed so glowniggers can play more games.

>>51512730
I bought some more at the days bottom price

>>51521062
>except that it can be traded for more of a currency that people actually use, and currency speculation is about as useful in real terms as jacking off to trap porn

That would apply to all currencies, except that everything besides Bitcoin is inflationary with infinite money printing. That’s the whole point… there is a fixed supply of BTC. You just keep undermining your own points.

>>51521062
You’ve also pivoted from your original nonsense argument that there is unlimited supply of Bitcoin because it is divisible, to now arguing that there will be no demand for it. Whether it will stand the test of time or be replaced by some other public chain, CBDCs, or a combination of both remains to be seen. But that is a completely different conversation than if there is a fixed supply

>>51521690
>there is a fixed supply of BTC
Crtl v ctrl p your open source code

>>51521891
>Crtl v ctrl p the US dollar

Is anyone going to accept the counterfeit?

>>51516310
nah there is still much room for growth until the end of the decade. this is like the tech growth around 2011. people thought then there was no way things would get more advanced

>>51513577

last pump came from printing money and handing it out to retards for "covid relief"

I dont' think we'll get another one of those

>>51512766
>When you don't have a usecase

nope, nothing can make me sell my BIT right now because ill be holding for the next 5 years easily, since BitDAO is paving the way for us to finally have an unstoppable decentralized economy

>>51513655
>The fun thing about btc is the fixed supply. The halving isn't close enough for anything to happen right now.
You have no idea what you're talking about.
>>51514789
>the 'fixed suppy' is a meaningless phrase.
>since each bitcoin can be split into billions of satoshis
You're also a dumb asshole.
A Satoshi isn't unlimited you dense fuck.

>>51514825
>Money is what the government says is money.
And everything has a price tag and people can trade for good.
You niggers need to go back to school.

>>51514914
>the 'fixed supply' shills are just trying to pretend there could be a scarcity.
It's only 21 million BTC and 19 is already in circulation.
You have no idea what the fuck you're talking about. Do you?
What a fucking retard, I bet you just recently got into crypto.

>>51515001
>it's not money
It is though, I know public education in America sucks but you can trade and barter for more than just paper fiat.
Retard.
Useless website.

>>51515288
>Of course it makes a difference. Having a crumb is not the same as having a cake. Having a tire is not the same as having a car. Having a gram of gold is not the same as having a kilogram
He was being sarcastic you dumb nigger.
Just because BTC can divide itself by Satoshi doesn't mean there's unlimited BTC.
Fucking idiot.

>>51515288
>That doesn’t mean the supply isn’t fixed
No shit, really.
There's only ever 21 million BTC.>>51515551
>you own a little bit more of something that as i have said is in effect unlimited because there are trillions of them and each one could have any dollar value.

>>51515551
>you own a little bit more of something that as i have said is in effect unlimited because there are trillions of them and each one could have any dollar value.
Quite literally isn't what a Satoshi is.
>>51515528
>Put another way, what special privilege would owning 21 million BTC give you? It would mean no one else could own one because it is a fixed supply.
Except you and everyone else cannot own all the BTC in world, dip shit.
Terrible analogy.

>>51515604
>There is no scarcity of your imaginary
You think a Satoshi is one whole bitcoin? That's cute.
Go back to math class, retard.
https://www.khanacademy.org/math/cc-fifth-grade-math/imp-place-value-and-decimals/imp-decimal-place-value-intro/a/decimal-place-value-review#:~:text=The%20first%20digit%20after%20the,there%20are%20no%20digits%20left.

>>51512817
But when using BTC to actually buy goods the amount of BTC you must pay changes on its value relative to the dollar. So, if you intend to use it to actually purchase goods, 1 BTC today does not = 1 BTC yesterday

>>51515604
>There is no scarcity of your imaginary
Right now at BTCs price 1k USD will give you 0.05092372 BTC.
You can't buy a whole BTC for less than what others are selling at.

>>51512746
South East Asia

>>51514809
>computer code that does nothing
are you fucking dumb?

>>51523727
Are you being serious?
There's been articles coming out how people in places like China are being frugal AF at the moment. GOod luck.

>>51523950
Doesnt matter, manufactuerers are spooked by China being retarded about lockdowns and interrupting shipping.

>>51512746
Institutions and players who have the cash reserved, know the value of blue chip crypto, and want to raise prices so normies are out of reach, thus causing normie fomo. it'll happen again, just a matter of when