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/biz/ - Business & Finance

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57814859 No.57814859 [Reply] [Original]

>banks buy up gold and sell paper versions
>/biz/ makes threads for years saying this is bad

>banks buy all the bitcoin and sell paper versions but have a cool acronym to call it (ETF)
>/biz/ hails it as the best thing to happen to crypto

I may be retarded cause I don't understand, DO WE JUST TRUST THE BANKS NOW?

>> No.57814874

>>57814859
They're not banks they're brokerages.

>> No.57814904

>>57814859
>DO WE JUST TRUST THE BANKS NOW?
Of course. They own bitcoin. The best asset of the planet.

>> No.57814913
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57814913

If you don't have at least 40 ounces of physical gold by now, then you are too late and have lost already.

Captcha: TYPP

>> No.57815017

>>57814874
oh so trust blackrock is what you mean cause they aren't a bank on paper but instead invest in all the banks

>> No.57815375

>>57814859
BTC maxies have zero principles and are salivating at the taste of that big black rock pumping them off of line go up.

>> No.57815392

>>57814913

now that's a stud. i bet his 20inch dick makes all the women squirt

>> No.57815404
File: 2.92 MB, 996x1570, 20240220_191342.png [View same] [iqdb] [saucenao] [google]
57815404

>>57814859
Crypto is not scarce at all considering they can borrow (rehypothecate) from cold wallets at any time and also trip an ERROR 500 during price movements, known as a CHILL or FREEZE (completely legal too, all legal)
Intangible assets are fake and gay

>> No.57815409

>>57814859
The person that is a Bitcoiner in 2024 is a goyim that wants to be be a rich goyim desperately. Bitcoin is captured, no longer dissident at all.

>> No.57815419

>>57814913
I will rotate my crypto gains into PAXG, which is the same as owning physical gold.

>> No.57815452

>>57815409
They locked out a lot of people during the recent price movement, people used to not believe me when i said they send you a list of questions about your income and hold your cash hostage; they even offered me a loan for my own money, begging me not to cash out, claiming itd be going even higher (it dropped). Ultimately, my seed phrase was blacklisted because I tried cashing out. Now all i get is the error 500 prompt, and itll say incorrect password, yet when i go to change it, i cannot use the old password again. Crypto is fake and gay and will rug you

>> No.57815479
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57815479

>>57815419
>paper gold (likely actually digital
>119 other people think they own a piece of gold instead of an iou for every actual unit of gold
Rerererehypothecation

>> No.57815505

>>57814913
This picrel made me barf in my mouth.

>> No.57815542

>>57814859
Anyway OP, the real answer is that we can verify the banks BTC holdings on the ledger, so we know if they are printing excess paper BTC or not. Gold isn't easily auditable nor as liquid as BTC so they can get away with a lot of bullshit.

>> No.57815609
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57815609

>>57815542
>id gox
>retardedly claiming gold is harder to audit than crypto
>he is in pic related
You cant hide