/biz/ - Business & Finance

> implying btc is a valuable asset

>>8871401
Because its artificial? If I make 10 buttons, are you going to pay me 100k per button because there are only 10?

shorting pays. Why would anyone short amazon stock? people still do it

>he believes that scarcity means value

I have a picture to sell to you.
I spent 20 hours on it.
It is worth 400€, as it is the only one I made.

>>8871401
literally the dumbest fucking shit ive read in the past 72 hours

>>8871425
only if you can convince everyone that your buttons are worth 100k.

s a t o s h i s w a l l e t

>muh ones and zeros are rare

Nice, just bought 100k retired neopets items

Holy shit this market is full of retardation

>>8871433
this aint no art market
get your ass to some gallery and bring good dope and you might sell it

>>8871425
>>8871433
>>8871513
damn /biz/ is full of dumb people now
I miss pre-2017 biz

>>8871433
Are you trying to prove op’s point? Because that’s exactly how the art market works.

>>8871425
If those were the only 10 buttons in the world then, yes, people would pay that much for them. Still don’t understand how basic economics works eh? Don’t worry anon, you’ll still make it kek

>>8871543

I just took a shit like no other.

I'll sell it for 8k. You might wanna think about buying it up soon, because it's scarce and I'm pretty sure it can solve the oracle problem

>>8871401
if you longed 1x from $1000 to $20,000 you'd have 20x your money.

If you shorted 1x from $20,000 to $1000 you wouldn't even have doubled your money.

Most mouth-breathing retards using Bitmex don't understand basic maths.

>>8871602

The average IQ of this board just went down by at least 50 points after you posted that

>>8871602

>>8871634
But you won't refute it because you're still trying to work out if it's actually correct.

I know it might come as a shock if you've been trading for 2 weeks.

>>8871653
Ok, what ROI would you make if you shorted 1x from $20,000 to $1000?

Please enlighten my low-IQ self.

>>8871591
>I just took a shit like no other.
>I'll sell it for 8k.
That's actually a great example anon. Shit is worthless because the supply is huge.
However if you had a rare biological product, like blood with a desirable antibody, it would be worth a lot.

Am i smart for realizing that im stupid?

>>8871663
this can not be true?
maybe if you if short the asset with the same collatoral, but not if you are sorting usd to btc etc...

>>8871565
BUT I AM NOT AN ARTIST!

>>8871401
>asset
oh you mean magical pixie funny money

>>8871676
>market sell at 20k
>close short at 1k = market buy at 1k
>ROI x19
(You)

>>8871723
If you take $1000 and open a 1x short position and the asset in question goes to zero then you've doubled your money.

The only way to make more is to increase leverage which also increases risk.

>>8871401
crypto is a competitor to the banks and banks have unlimited funds to short their competition

they have been suppressing the price of precious metals for years

>>8871591
>>8871680
>the shit market
India will dump all over you if you buy in to this shit

>>8871401
Until today people were making money shorting for 3 months. Let's not pretend it's retarded now because people got rekt. How many times have bulls been rekt since January?

I didn't short because the support at 6.5 was peculiar but this celebration over bear corpses is silly. Longing right now. There's no way whales dump this to sub 7k after going through that mass coordinated effort.

>>8871401
I prefer shorting,
see you guys after the bullrun

>>8871401
to profit from a falling price, you brainlet

>>8871425
Can you send those buttons over the internet you fucking brainlet?

>>8871737
If you market sold $1000 worth of BTC at $20k you'd have $1950 when you closed your short at $1k.

>>8871433
I can easily duplicate it, your example isn't similar to bitcoin at all, pls kys

>>8871812
*market sold then opened a short with the $1000.

>who
this is who

>>8871812
Lmao

>>8871829

You're probably just fucking with us, but I'll write it out in case some newcomer actually believes you. When you short 1 btc, then you market sell 1 btc at that moment (for example at 20k), even if you don't have enough money for a whole btc, and promise to buy it back later. If you buy it back when the price is at 1k, you have earned 19k in profit. The downside is that if you're wrong and the price goes up too much you get liquidated and lose all of your money in that trade.

>>8871401
>BTC can only go up
>loses 70%
>increases 10%
>why you retards short???

How is it fixed supply when you can just fork it as much as you want. So the only thing that would make it valuable are the miners, and they will just leave if something more profitable shows up.

>>8871433
its not a minteu 1,000,000 is it now

Forks have disproven this finite supply theory, furthermore, you only need a majority of miners + the economic majority to fork the codebase to allow more coins. It will happen at some point if the powers that be want to.

>>8871799
Yes. It's not that hard. Retard.

>>8872730
Send me a button over the internet then, dipshit.

>>8871602
In both instances you make a 19x return in profit. When you long you had a cost of $1000.

Many of you aren't going to make it.

>>8872743
If you have 100k then I'll get right on it.

>>8871401
Why the fuck would go long on a digital asset with no intrinsic value where the entire worth of the asset is based on hype?

>>8871602
When you short you're buying back at a lower price, effectively betting that the price will increase to make a profit in fiat too

>>8872776
Proof of concept on button testnet first

>>8871401
Bitcoin is a shitcoin that still uses archaic technology. It is slow, has a public ledger and is too volatile to be used as a currency and/or as wealth storage.

Bitcoin's only benefit at the moment, is its first mover advantage. It's the MySpace of crypto. After the crypto bubble crash is over, this shitcoin will be long forgotten by everyone, only to be mentioned in history books.

>>8873181

>>8871714
Only if you're smart enough to realize your stupid and don't attempt "smart" things which are really just stupid things. Be a good wage slave and you'll be alright.

>>8871425
jew tier sophism to use the word "buttons". if your buttons couldn't be replicated and were indestructable, than yes.

>>8871425
Buttons
More like butt-tons
Haha poop-tons

>>8871401
they didn't learn anything