/biz/ - Business & Finance

[Anonymous No.10291107]

>hol' up
>so u be telling me
>people bought this even though it produces no value
>it's completely useless
>only reason it has value because some retards are buying it because they were tricked
HAHHAHAHAHAHAAHAHAHAHA HOW CAN A CURRENCY BE WORTH ANYTHING IF IT'S NOT BACKED BY GOLD OR BY A GOVERNMENT. YOU FUCKING RETARDS.

[Anonymous No.10291116]

2/10

try harder faggot

[Anonymous No.10291117]

its backed by energy-cost

[Anonymous No.10291118]

>>10291107
hurrr durr gol hef value cuz shinyyyyyyy durrrr

we caveman shiny shiny

[Anonymous No.10291125]

>>10291117

>Labor theory of value

OH NO NO NO NO

[Anonymous No.10291129]

Boomer COPE

[Anonymous No.10291152]

>>10291107
>>people bought this even though it produces no value
i know this is bait, but i can't let slide in case newfrens are lurking.

[Anonymous No.10291153]

>>10291116
>dude it has value in that you can buy patterns of 1's and 0's with fiat, then you can transfer these patterns of 1's and 0's to a different computer so can sell it back for fiat

[Anonymous No.10291164]

>>10291107
Just like euro or dollar. Wow.

[Anonymous No.10291189]

>>10291117
I spend all day digging a hole in the park. that means someone owes me at least minimum wage for it, right?

[Anonymous No.10291196]

>>10291107
>produces no value
and paper fuckin money produces value? how fucking retarded can a single human being be?

[Anonymous No.10291214]

>>10291164
>>10291196
The difference is your forced to use euro and dollar by the goverment, it's backed by an entire army dumb ass
>>10291117
This >>10291189

[Anonymous No.10291239]

>>10291214
>backed by an entire army dumb ass
and that produces the value.
seriously should consider suicide at that level of dim-wittedness

[Anonymous No.10291243]

>>10291214
> backed by an entire army dumb ass
This is the most stupid meme you can read here. It doesn't mean anything it's a fucking boomer phrase.
All fiat ended up failing look it up. No army will stop usd from failling shittard. What does backed by army means ? You can redeem a part of the army with a dollar ? Fucking boomer I swear kill yourself

[Anonymous No.10291317]

>>10291243
The value of fiat is guaranteed by the goverment. Fiats value is underpinned by the strength of the government.

[Anonymous No.10291331]

>>10291317
>hi, my name is braindead fuckwit and i don't even understand money when looking at what's happening in Venezuela right now

[Anonymous No.10291352]

>>10291331
what the fuck are you talking about. Venezuela's problems aren't cause of fiat, almost every country uses fiat.

[Anonymous No.10291358]

>>10291196
the point of currency isn't to grow in value, it's designed to be a medium of exchange; the grease between the wheels. it's not supposed to have value in and of itself.
crypto can't do this on a large scale because nobody can print it. you can argue that any kind of inflation is bad but not printing any money at all is retarded. imagine using the same amount of money we had a century ago, when population doubles every 60 years, and the economy in less than that.

[Anonymous No.10291369]

>>10291317
>fiat money represent a claim to the future output of society
just like bitcoin represents a claim to the future output of the economy taking part of bitcoin. And no the government isn't forcing me to use their shitty us dollar, I have everything in bitcoin, and as soon as I want to buy something I instantly convert to USD then liquidate the USD. Thus I have BY CHOICE no effect on usd price, because the demand for usd doesn't increase during the transaction. No kill yourself with your shitty economics concept made by old boomers who want you to keep using their shitty fiat so they can inflate it and take your wealth

[Anonymous No.10291394]

>>10291107
>salty nocoiner threads start appearing
Yep, it's time for bulls

[Anonymous No.10291453]

>>10291358
printing is mining you fucking retard

[Anonymous No.10291496]

>>10291369
>just like bitcoin represents a claim to the future output of the economy taking part of bitcoin
it doesn't. if you want a real claim then you buy shares in the companies that become that future.

>>10291453
bitcoin has a hard cap. even for crypto that don't it's impossible for a fixed amount of growth to service a dynamic economy.

[Anonymous No.10291523]

>>10291107
>it produces no value
it's a medium of exchange. look it up fun stuff!

[Anonymous No.10291575]

>>10291107
>HOW CAN A CURRENCY BE WORTH ANYTHING IF IT'S NOT BACKED BY GOLD OR BY A GOVERNMENT

he trusts the government to not over inflate his currency & precious metals which are being mined faster every day.

stay poor faggot.

[Anonymous No.10291606]

>>10291394

genuinely, unironically this

[Anonymous No.10291676]

>>10291107
read "The internet of money"

[Anonymous No.10291714]

>>10291317
So, you trust the goverment to not inflate? to not print money? fucking kike.

[Anonymous No.10291797]

As long it's actually used as cash it has value.

[Anonymous No.10291923]

>>10291107
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[Anonymous No.10291973]

>>10291107
Cause currency at one point in history was salt. You know. Like the shit you put on your freedom fries.

Anyways.