/biz/ - Business & Finance

[Anonymous No.11471731]

Some 1st year economics kid just tried to talk about bitcoin mockingly, sayong “dont you know there is no intrinsic value?” And harping on about it.
I was seriously amused and kept encouraging him till the end when i jokingly just said he would be richer if he had studied worthless coins rather than a this degree. Could see the salt.

Anyway, question: why do these fags have such strong opinions but unknowingly expose that they know little about economics or bitcoin?

[Anonymous No.11471745]

>>11471731
Because that's life and you'll meet all sorts of know it alls in the history of your life.

[Anonymous No.11471774]

>>11471731

let him mock. He will be poor later.

[Anonymous No.11471782]

I do this uncontrollably but wouldnt mind people correcting me on the spot

Its probably a personality thing

[Anonymous No.11471786]

[Anonymous No.11472254]

>>11471731
"neither does paper fuccboi, don't forget to study hard for your big micro 101 midterm!"

i hated the little fuckers who take one micro or macro class and start talking big shit like they're fucking milton friedman. invariably almost all of them go on to just study business or (((public policy economics)))

[Anonymous No.11472421]

>>11471786
Seriously, the npc meme isn’t actually a meme

[Anonymous No.11472430]

>>11471731
>explain to him the concept of hard money

>Watch him roll his eyes

>Let a few years pass

The know it all Keynesians will pay the highest prices for Bitcoin

[Anonymous No.11472472]

>>11471745
This is true. Had someone lecture me on BAT telling me it would never work. I gave reasons like cheaper clicks for advertisers, and he asked how they could be cheaper. Told him that lawyers will pay $150 for a single click on google, and the clicks for lawyers would be cheaper for early advertisers using BAT and he called me a liar.

Told him i worked in advertising and pulled up a chart with cpc's for keywords. He was instantly boddied and tried to find some other bullshit to test me on, and he was shot down every time until he changed the subject.

Some people just seem to know it all and instantly dismiss until they are backed into a corner and leave. Its quite sad. Most of the time they are outright dismissive and they cant even say a single thing that would actually be agreeable.

[Anonymous No.11472486]

>>11471731
He's right though.

Bitcoin is a digital token without any inherent value. Its high per token value is a reflection of billions being printed in Tether (fake US dollars) that are then used to push the bid/ask spread on Bitfinex up on a very small portion of the outstanding float, making it look like there is hundreds of billions of value being created to the economically ignorant.

The fact that a bunch of ignorant millennials fell for a pyramid/ponzi where the early purchasers hyped up a bunch of dumb millennials into buying it during 2017 is not indicative of it being largely worthless.

Its like someone bragging how beanie babies are some great investment because lots of people got rich of them during the 90's hype craze. Bitcoin is the same thing, now that everyone has seen it and the mystique of the "futuristic money" is gone after it completely shat the bed in December, nobody is going to be hyped into buying it again. It will continue bleeding down to the sub 1K region where it was before the 2017 bubble.

[Anonymous No.11472490]

>>11471731

It's the same way I feel when normies dare speak about my dear religions. I'm an evangelist of both, dharma and cryptocurrency. it's a win win.

[Anonymous No.11472510]

>>11471731
>not realizing he's actually stupider than a 1st year economics student

in 10 years that kid will be miles ahead of you.. screencap this

[Anonymous No.11472563]

Daily reminder that the US dollar has no intrinsic value.
The coinage act of 1792 declared:

A constitutional dollar is 371 grains of silver(.8oz)

Federal reserve notes are unconstitutional

[Anonymous No.11472569]

>>11472563

[Anonymous No.11472615]

>>11472486
Tether was created in 2015

Please explain the BTC price increase from pennies to around $200 when Tether was launched

[Anonymous No.11472714]

>>11471782
Actually me, except sometimes I might mind if it's aggressive

[Anonymous No.11472779]

>>11471731
>Talking about crypto IRL

[Anonymous No.11472806]

>>11471731

[Anonymous No.11473824]

>>11471731
Funny thing is, he's right.