/biz/ - Business & Finance

>>57296820
And what would alts do? Pump to 100k?

>>57296840
Do you really see a future 100 years from now where Bitcoin reigns supreme, yet ALTs exist?

you are buying snake oil

>>57296840
ICP pumps to 2k

>>57296820
Big if true.

>>57296846
Yes. BTC serves no purpose other than being a commodity

>>57296840
If BTC pumped vertically based on a supposed supply crunch there would be no reason for alts to follow through as that BTC<->Alt cycle exists as a way to stack more sats. Only retards would risk selling BTC "to stack more sats" and risk seeing their Shitcoin-BTC pairings to plummet because everyone is flocking to the supply-crunched option.
At least initially. At some point people want to realize some profits.

>>57296856
BTC, like Au, is a Money (store of value), not currency (transactional media), remember that Au has rarely been used as currency (transactional media), poor monies like Ag were used instead.

The value of Money is derived from demand for Store of Value, Money stores value dispersed within the economy by being something that meets the demand for SoV, if I buy something with good SoV properties and high network effect then it will have SoV demand in the future and therefore hold real terms value.

Money can never have intrinsic value, indeed functional demand is DETRIMENTAL to Money, price is a product of aggregate demand, a money having functional use means part of the price (proportional to it's functional demand) will be from functional demand, forcing buyers of Store of Value to pay a functional premium and subjecting them to the risk the functional demand will fall, causing real terms fall in money value independent of demand for SoV. This can be seen in platinum, which on paper appears a fine money, but it's high functional demand dominates it's price rendering it unusable.

Gold is the best natural money precisely because it has little functional demand, BTC improves on this by having no functional use outside of Money (store of value).

BTC frees mankind by providing a cryptographically fixed unit of account. It does not need to, nor even benefit from, being used as currency. BTC can only be acquired through voluntary trade, which forces positive sum gaming. BTC improves systemic economic efficiency simply by being a pure trustless Store of Value: fixed in supply, transparent in ownership, weightless, no counterparty risk, trustless transactions and trustless proof of ownership etc etc etc.

>>57296901
Thats not what the whitepaper says. Thats cope.

>>57296856
Bitcoin ETfs mean paper bitcoins. The Oil reserve currency will become the bitcoin reserve currency.

My personal prediction is that states run banks will fomo when El Salvador goes from turd world to the richest per capita country over night. That will fuel the golden bull. The bear will be caused by WWIII. But if Bitcoin does the million dollar moonshine this cycle the lowest it will go afterwards will be 200k. And a lot of third countries that fomoed will seethe and add bodies to the new world War.

This is my prediction.

>>57296820
We are going to 20k aren’t we….

>>57296911
Shit 6911 confirmed?

>>57296918
I hope so I want to buy more before we go to a million.

>>57296820
i thought boomers coming into crypto was always a death flag. isn’t that what happened before when it was at 60 and it dropped to 16?
>matt damon told me fortune favors the brave and i lost all my fucking money

>>57296820
>s2f btfo'd by king maxi
lol
lmao even

>>57296910
>muh intention
Intention and a stinkie linkie will buy you a cup of coffee, also "peer to peer electronic cash" is a technical description, a p2p version of Ecash, not it's intended use

>>57296820
Samson Mow is a cuckold.

>>57296922
Be careful not to catch a falling knife

>>57296910
The whitepaper says nothing about ordinals either or about a ton of shit that is now standard/is not standard despite Satoshi specifically talking about it.
https://www.reddit.com/r/btc/comments/17dbvya/satoshis_actual_vision_scalability_through/
People seem to forget that Bitcoin was a proof of concept that was meant to be solved over time.

The anon you replied to makes a great point by talking about gold and functional demand. I assume you know that gold has certain qualities and for that reason it gets used in certain industries. Ever wondered why it's not more widely used? Is because its value as a store of value makes its functional demand too expensive in most cases so it gets used when there is no possible substitute (think space telescopes) or using substitutes would be detrimental in the end (think electronic circuits).

>>57296840
Kys

>>57296918
Put another zero on the end of it and yeah

>>57296820
>supply crunch
There's no such thing. Bitcoin isn't needed for anything but itself. To sell.

>>57297084
this post won't age well

>>57296972
>>matt damon told me fortune favors the brave and i lost all my fucking money

In hindsight, it was the perfect top signal. It generated an emotional cue in people to make anyone who was buying crypto feel like a 140 IQ maverick who goes against the grain and never loses.

I'm kind of excited to see what emotional manipulation they will use next time around? What strings will they pull on?

Right now most of the Left in the US thinks crypto is a scam or incredibly harmful for the planet.

I think they will have to onboard those people somehow. Like if you don't own crypto you are a racist Lmao Either that or authority figures they trust tell them its actually going to save the climate not destroy it now with some advancements and if you want to play a role in that you have to buy etc.

That will be the top signal.

mmm

>23 trillion mcap
lol
lmao

>>57296856
Commodities are consoomed for a purpose.

>>57297084
Store of Value is a fundamental economic demand. Throughout history, universally across the globe, something as filled this niche. This has generally been gold when available, as gold possess physical properties that naturally meet SoV demand, but it's always been the SoV properties (finite, easily authenticatable, lacking strong functional demand and so on) that have been in demand, not gold itself, indeed when gold has not been available other goods filled this niche, including synthetic SoV like Rai stones or wampum.

BTC is the first synthetic SoV that outperforms gold on all meaningful metrics, BTC will continue to gain SoV marketshare as it better meets SoV demand, continued increasing demand will cause a supply crunch as the available BTC at the current price is insufficient to meet greater and greater demand.

>>57297197
just 3 times the market cap of gold
seems doable

>>57297353
Gold mcap is around $12.5T, 5m or so BTC are lost, so it'd only be around 1.2x the mcap of gold

>>57296846
>t. guy who does not understand crypto

>>57297353
>>57297390
Inflation is what you're missing.
The final ratio of gold mcap to btc mcap will determine how much btc has actually increased in price.

>>57296820

Two weeks!

>>57297586
BTC inflation is around gold inflation now, after this having it will be less than half that of gold's

>>57296901
>all these words just to justify bitshit doesn't work as peer to peer electronic cash
holy cope

>>57296820
Top?

>>57297084
That is why i am a lot more bullish on eth, you need ether not some paper etf jewry to interact with smart contracts, defi or buy niggershit like monke pics.

>>57296910
Ask Craig Wayneright. he wrote the thing.

>>57296820
then that means the opposite, selling everything right now

>>57296820
gym friend kek