/biz/ - Business & Finance

[Anonymous No.10656433]

This man singlehandedly destroys /biz/

[Anonymous No.10656565]

>>10656433
He literally writes his own copy pasta

[Anonymous No.10656601]

I listen to him daily and then come here just to see for myself how retarded cryptards are. He's the first to admit that he wished he had jumped onboard the crypto bubble back when it was viable.

[Anonymous No.10656604]

>>10656565
lmao

[Anonymous No.10656621]

>>10656601
He opened my eyes on crypto desu. I realized that you can't really do anything with most crypto aside from keep speculating. Which goes against the whole point of a currency.

[Anonymous No.10656629]

He is one of the most reasonable market analysts out there. Probably the best. I listen to every episode of his podcasts but imo he is wrong on utility tokens and closed ecosystems. It's just a new business model that works fine.

[Anonymous No.10656649]

>>10656621
>ICO
>Micro trasanctions
>Decentralized governance
>Sovereignity
The boomer has points but he (and you) are wrong about the utility of crypto.

[Anonymous No.10656673]

>anno 2630
>flying cars, humans are multiplanetary species
>you go to some store (by go I mean, open website)
>you put your phone in front of the browser and scan code
>wallet opens up and you confirm transaction
>it gets confirmed instantly as lightning network works for hundreds of years
>you paid 2600 satoshi for your new sex android

[Anonymous No.10656703]

>>10656433
I've begun to feel ill whenever I see a Jew nose.

[Anonymous No.10656708]

>>10656703
You also get ill when your pretend money tanks.

[Anonymous No.10656745]

>>10656433
i like schiff but he's a broken record, when you keep saying every day that there will be a big recession you'll be right everyone once in a while

if you kept your money in gold like he has said for the past like 20 years you wouldn't have made 1/10th of the money if you bought and sold stocks and bitcoin

[Anonymous No.10656748]

>>10656649

Crypto is almost entirely speculative. There is a tiny portion who use it for what it's apparently designed for. And i doubt it's anywhere near the bottom where these people reside

[Anonymous No.10656757]

>>10656745

Well if he's a broken record you still haven't been listening because he has always recommended commodity stocks

[Anonymous No.10656775]

>>10656748
Hope you are right, I'm going all in and it would allow my DCA to be more impactful. I don't think you are, though.
Decentralized governance through budget allocation (dash, smartcash, etc) does not take full on adoption and is continuing to happen behind the scenes. ICO's already had a wave of adoption.
The most impactful things are still to come, that is for certain, but even the things that currently exist are not just pure speculation. You can play crypto as a purely speculative investment, no question there.

[Anonymous No.10656777]

Schiff is the epitome of survivorship bias
He thinks gold is valuable because of its utility maybe he should buy steel?
Gold is the value datum everything degrades relative to gold
Crypto is the first currency that does not nees to be backed by gold to prove its supply its not being inflated.

[Anonymous No.10656793]

>>10656777
Answer this honestly. Would you borrow money in cryptos like bitcoin? For example borrow bitcoins today to purchase a car, then pay it back in 5 years? Please answer.

[Anonymous No.10656819]

>>10656748
so like gold

[Anonymous No.10656838]

>>10656601
proof he's jewish

[Anonymous No.10656839]

>>10656793
Real answer? Stop living in debt.
SALT is a crypto answer as well.

[Anonymous No.10656845]

>>10656793
The price will grow exponetially until global adoption, then it will grow at a rate defined by the icrease in gdp and rate of deflation
So no that would be stupid
But i would after global adoption

[Anonymous No.10656857]

>>10656819
exactly except it has a finite supply unlike gold which has infinite supply.

[Anonymous No.10656863]

>>10656839
>>10656845
So you wouldn't. You proved Schiff's point that cryptos are mostly useless beyond speculation.

[Anonymous No.10656866]

>>10656433
He's a real life example of shilling his bags. No amount of reasoning will ever change your mind if you have bags. In his case it's not shit coins, but gold.

[Anonymous No.10656878]

>>10656863
I gave you an answer, the free market provides the services for you to sell your future from temporary comfort.
You shouldn't do it though.

[Anonymous No.10656887]

>>10656863
Classic schiff follower with a lack of ability for nuance
I said i would take loans priced in crypto after it is an established currency, we're not there yet and that's exactly why you should be buying see adoption curve
Exponetial growth is evidence of its inevitable adoption, it will reach equilibrium with global adoption

[Anonymous No.10656896]

>>10656748
Well the 'speculation' is that they will be used in the future. Current usecases are irrelevant. If new wealth will be created in the new ecosystems, they will already be priced in.

[Anonymous No.10656938]

Compared to this time last year
Bitcoin: +40%
Gold: -5%

Destroyed himself missing out on the real golden bullrun and lost money. If he was in crypto he would be shilling link.


p.s. Bitcoin is trash, XLM will destroy it.

[Anonymous No.10656953]

>>10656938
Brutally mauled. No recovery possible

[Anonymous No.10656959]

>>10656433
I like Peter and I have a ton of respect for him calling the 08 crisis, also happen to share many of his views. However he's extemely biased on this topic, he views crypto as competition to gold and silver and because of his business it's in his own interest to criticize it so heavily. Fact of the matter is you will be able to make more money buying crypto now than you ever will speculating on any other asset in your life if you have the patience to do so. Crypto is of course highly speculative AT THE MOMENT but if you question the validity of it's worth en masse I don't think you've done enough fundamental analysis or paid attention to the positioning that is going on just below the surface of the MSM. My personal hope is after the next impending crash DECENTRILIZATION and ANTI-INFLATIONARY will take their rightful place as principles to drive digital cash based crypto assets. Also as the tech matures and major hindrances like scalability, adoption, interoperability, and user ease are mitigated you will be able to start to see the use cases employed and after full on working decentrilized economic systems are being realized the potential will also be realized. The problem currently is the cart is way before the horse in terms of speculation versus working product. It's going to be YEARS (5-10) before you have multiple cryptos up and running to anywhere near the theorized potential. I'd like to see a giant purge of shitcoins but I'm not sure will be seeing that anytime soon given their ability to survive shitty markets. Just check CMC and see how many were released in the last 30 days... Disrupting and decentrilizing a world that has coalesced power, money, resources into centrilized frameworks will take a lot of time and might come under the control of the same ole same ole's who dominate the world now. Don't think for a second that I don't ponder daily if I'm investing in something akin to the world wide beast system prophesied in Revelation.

[Anonymous No.10656960]

>>10656887
>Exponetial growth is evidence of its inevitable adoption
Do you really think nothing ever had an exponential growth curve and then just slowed down or dumped to hell and irrelevance forever?

Shit like this is barely a step above "muh lucky streak" gambler superstition.

[Anonymous No.10656964]

>>10656938
What can you do with XLM aside from speculation?

[Anonymous No.10656987]

he was all in with verge with jeff lambert, and they paid mcaffee to promote xvg.

[Anonymous No.10656999]

>>10656960
If it wasnt exponential that would be evidence it was never going to be adopted.
https://en.m.wikipedia.org/wiki/Diffusion_of_innovations

I cant understand people who like gold but not bitcoin its intelectually iconsistent

[Anonymous No.10657028]

>>10656866
he is a merchant dude he sells gold not hoards it i mean that's what he says but you can't believe merchants.

[Anonymous No.10657101]

>>10656999
Just because almost all adopted things showed exponential growth curves does not mean that all things that show exponential growth curves will be adopted.

The correlation only goes one way.

[Anonymous No.10657109]

>>10656999

>he fell for the store of value meme

[Anonymous No.10657133]

The average person will never ever understand the value of crypto. Gold on the other hand has a value that's far easier to conceptualize. Doesn't matter how well designed your crypto is, it's always going to be a handful of nerds promoting it and everyone else just confused

[Anonymous No.10657144]

>>10657101
I know, you brainlet its necessary but not sufficient
>>10657109
Bch is bitcoin

[Anonymous No.10657151]

>>10657133
So everyone who understands gold has studied the process and business models of mining precious metals? They could reel off facts about which countries have which quantities?

[Anonymous No.10657185]

>>10657151

You can find gold on the ground
You can get a job in gold mining without being smart
You can walk to the local mint and buy gold then sell it back to them the next day
The tax man can't see how much gold you buy and sell

There's nothing complicated about gold. Try explaining blockchain to the average person on the street

[Anonymous No.10657251]

>>10657185
If people understood gold was money there would be no need for bitcoin
But it only takes a single generation using paper to forget

Thats why blockstream is trying to make bitcoin unusable so they can issue paper bitcoin (lightning network) and stop people being sovereign individuals again