/biz/ - Business & Finance

[Anonymous No.18849332]

>bitcorns are a decade old
>no one has found a good use for them yet

[Anonymous No.18849361]

>>18849332
worst than that, they are less used today than 5-6 years ago

[Anonymous No.18849370]

>>18849332
>it took gold millions of years to find a good use

[Anonymous No.18849428]

>>18849332
The value of cryptocurrency is being an untaxable, global currency transferrable beneath government eyes.

[Anonymous No.18849443]

>>18849332
You can buy drugs with it.
I'm not sure what else it's good for

[Anonymous No.18849464]

>>18849370
“What is jewelry?”, for 500, Alex.

[Anonymous No.18849566]

They're good for moving money on and off offshore gambling sites with no fees

[Anonymous No.18849632]

>>18849332
Most gold is sitting there being scarce, that's its use. Same with bitcoin, except it's technically superior to gold in every way.

[Anonymous No.18849647]

>>18849443
that one guy once bought a car with some!

[Anonymous No.18849679]

>>18849443
you can but it's unwise. bitcoin does literally nothing except fill the same space as gold with some interesting caveats.

[Anonymous No.18849719]

Holding value is a use case

[Anonymous No.18849761]

Bitcoin is the only cryptocuckbuck that is vaguely appropriate to buy drugs with because all other cryptos are injected with government spyware to take down cuckmarkets that sell cuckpowders and gang weed.

This is why no other cryptocurrency will ever explode, they're just a form of government spyware.

[Anonymous No.18850733]

>>18849761
>what is xmr

[Anonymous No.18850835]

>>18849370
Should I hold for a million years?

[Anonymous No.18850867]

>it’s a new currency!
>denominated in USD

[Anonymous No.18850885]

They're really good for telling people how USD is fiat and worthless and BTC is the future so you can sell your BTC for USD.

[Anonymous No.18850944]

>>18849332
Far less than 1% of BTC volume is retail payment transactions. It has basically zero use case now.

[Anonymous No.18850994]

>>18849428
>untaxable
>Public digital ledger with known spot prices for the underlying assets
>untaxable
t.brainlet

Crypto is the greatest tool ever for the governement to track their citizen every financial moves.

[Anonymous No.18851143]

>>18850994
depends which crypto

[Anonymous No.18851177]

>>18850733
Government spyware.

[Anonymous No.18851187]

>>18849332
tax evation
money laundering
child porn
drug trafficking
organ trafficking

[Anonymous No.18851192]

>>18849332
ethereum has aave flash loans. This makes everybody a whale.

[Anonymous No.18851202]

>>18851177
maybe try some ghost then

[Anonymous No.18851205]

[Anonymous No.18851238]

>>18851205
>cheap payments
>uncorrelated asset
>reserve currency

What the fuck are you talking about, chang?

[Anonymous No.18851314]

>>18849332
>meanwhile, other projects develop their own cryptocurrencies with actual utility
>WHY DIDN'T YOU USE BITCORN!!?!?!?

always makes me lel to see bitcorn maxipads get cucked and cry about other cryptocurrencies being used/created while bitcorn stagnates in terms of usefulness. Imagine being pathetic enough to get upset about other cryptocurrencies existing and being used for their own project.

[Anonymous No.18851402]

>>18849332
buying drugs
/thread

[Anonymous No.18852318]

>>18849332
Literally everyone who tries to talk shit about Bitcoin just sounds literally retarded to me. Like, they'll nitpick one irrelevant aspect of it and call it an argument. Seriously, you guys should just all give your money to me, you clearly lack the qualifcations to exercise free will. If you happen to have gotten lucky enough to have any pretty women, give their wombs to me as acceptance of my total superiorty over you worthless subhuman retards.

[Anonymous No.18852645]

>>18851314
Real use cases? They don't exist you scammer! Bitcoin is the only valid ponzi, OK?

[Anonymous No.18852717]

>>18851177
Every time anyone mentions XMR one of you retarded shills comes out of the woodwork.
>XMR is good
>no, it's fake and the government actually sees MORE when you use it!
>prove it
>silence
Kill yourself, everyone but XMR maximalists is ngmi

[Anonymous No.18852832]

>>18852318
What is crypto fed printing billions of usdt in one month to stop this shit heap of margin gambling afloat?

[Anonymous No.18852854]

>>18849428
That’s Monero or Suterusu you’re talking about

[Anonymous No.18853660]

Its a hedge against the system

[Anonymous No.18853678]

>>18849332
I know, right. Not like gold, that be shaped into circles and put in your ears, amirite.

[Anonymous No.18853696]

>>18850835
>Should I hold for a million years?
What part of 'hodl' is too confusing for you?

[Anonymous No.18853733]

>>18850944
> Far less than 1% of BTC volume is retail payment transactions.
Yes unsurprisingly the business idea of creating payment infrastructure for the better money ran into Gresham's Law.

[Anonymous No.18853761]

>>18851205
That's the best infographic I have seen on /biz/. Source?

[Anonymous No.18853790]

>>18851314
> silver is gonna overtake gold any day now.
> I call it the slippening

[Anonymous No.18853795]

>>18849679

Try sending $10,000 worth of gold to another country, hey try it with fiat too... then send $10k worth of Bitcoin. Tell me which method is faster, easier & cheaper. I’ll wait.

[Anonymous No.18853808]

>>18849332
Tell that to people living under capital controls and bitcoin is now the only wire system

[Anonymous No.18853879]

>>18849332
>>no one has found a good use for them yet
It had great use in 2011-2014 before corekek glowniggers destroyed it, now it's a ponzi

[Anonymous No.18855110]

>>18851205
I like how theres no y axis

[Anonymous No.18856137]

>>18853795
unless its for illegal purposes a bank transfer would suffice. but this can essentially be done with any crypto.

[Anonymous No.18856155]

>On the Instability of Bitcoin Without the Block Reward
https://www.cs.princeton.edu/~arvindn/publications/mining_CCS.pdf
Princeton university

>Beyond the doomsday
economics of “proof-of work” in cryptocurrencies
Monetary and Economic Department

https://www.bis.org/publ/work765.pdf

"Second, the transaction market cannot generate an adequate level of
“mining” income via fees as users free-ride on the fees of other transactions in a block and in the
subsequent blockchain. Instead, newly minted bitcoins, known as block rewards, have made up the bulk
of mining income to date. Looking ahead, these two limitations imply that liquidity is set to fall dramatically
as these block rewards are phased out. Simple calculations suggest that once block rewards are zero, it
could take months before a Bitcoin payment is final, unless new technologies are deployed to speed up
payment finality. Second-layer solutions such as the Lightning Network might help, but the only
fundamental remedy would be to depart from proof-of-work, which would probably require some form
of social coordination or institutionalisation."

>Written by phd´s in computer science and economics. Bitcoiners can’t refute this fud, lol. These academic papers prove that proof of work will not work longterm.
Another weakness is the lack of on chain governance, which results in huge governance and coordination problems, and limits innovation.


https://medium.com/@johnblocke/r-bitcoin-censorship-revisited-58d5b1bdcd64

[Anonymous No.18856177]

>>18853795
sending that value in gold is just as easy, actually more easy. Just use goldmoney bro

[Anonymous No.18856198]

>>18856137
unless they decide they want to see your ID. or they want to not send the money for any reason at all. BTC is financial sovereignty

[Anonymous No.18856385]

>>18849679
>bitcoin does literally nothing except fill the same space as gold
you have the answer to your own question, the wealthy will always seek ways to store their wealth. Art, swiss bank accounts, real estate, jewels, gold. Bitcoin is another hat tossed in the ring, except unlike the alternatives this one can't be stolen or seized from you without your permission.

[Anonymous No.18856516]

Scamming pajeets is a pretty good use case to me.

[Anonymous No.18856671]

>>18856385
Bitcoin stands out as the only one of those that is completely traceable. Wealthy people don't appreciate that.

[Anonymous No.18856716]

>>18856671
There will be many alt coins in the future that will be able to do all sorts of fancy things, but they lack one thing that only bitcoin will have above all other cryptocurrencies and is what gives it value.
Scarcity.

[Anonymous No.18856728]

Why is my digital gold going down? Why are boomer rocks going up? Where are my 1 million dollars?

[Anonymous No.18856730]

>>18856716
Scarce just like tulips

[Anonymous No.18856751]

>>18856385
If someone really wanted your bitcoin they could just wail on your kneecaps with a wrench until you give them your keys

[Anonymous No.18856766]

>>18856730
if you cannot understand the value of scarcity then there is no hope for you.
google stock to flow wiki.
>>18856751
the solution to that problem is simple, don't tell anybody you own bitcoin. only an idiot would flaunt their wealth.

[Anonymous No.18856769]

>>18856730
hur dur tulips meme

[Anonymous No.18856811]

Transaction cost is too high. The cost is invisible but every transaction is taking more and more computational power and electricity. It is a huge waste of production compare to physical money.

>>18856716
It is not scarcity that gives it value but the work done in order to create it. The mining process is necessary for the integrity of the system.

[Anonymous No.18856831]

Do you think the Satoshi team regret designing this? Their goal was so to give financial freedom through this. Use your hard earned money the way you wish without banks fucking you over with fees, and turning your savings into profit with schemes you get nothing out of.
Instead of that, btc has become a speculative useless yet highly valuable asset making people kill themselves.
It's Frankenstein's beast all over again
I wonder how they feel about it

[Anonymous No.18856843]

>>18853795
LINK is cheaper to send

[Anonymous No.18856844]

>>18849370
Depending what good use means in your vocabulary, today gold is indispensable you can literally eat the fucking thing, stop being a faggot

[Anonymous No.18856845]

>>18856769
cope
shitcoin has no utility

[Anonymous No.18856858]

Why is my digital gold going down?

[Anonymous No.18856875]

>>18856811
work is required to create other cryptocurrencies, and the scarcity I was referring to is the fact that bitcoin, as the first cryptocurrency, was created to be inherently scarce. Its own existence is the main purpose it serves.

[Anonymous No.18857012]

>>18856716
scarcity is a meme. Gold has an uknown supply but its still the best store of value

[Anonymous No.18857098]

>>18857012
scarcity is why gold has value.
~2500 tons of gold produced a year
~30,000 tons of silver produced a year
it is difficult to produce, and there is a limited amount in circulation. Scarcity is what gives things value.

[Anonymous No.18857195]

>>18852717
Xmr fags are retarded. No one gives a shit about privacy coins except for a few nigger criminals who sell and buy drugs. Total shitcoin otherwise. Muh muh privacycoin.

[Anonymous No.18857209]

>>18856766
>the solution to that problem is simple, don't tell anybody you own bitcoin
That means not spending your bitcoin because every shop you spend at can look at your btc history and make a probabilistic assessment of whether it would be worth kidnapping and torturing you.

[Anonymous No.18857223]

>>18849332
buy link you piece of shit scumbag

[Anonymous No.18857229]

>>18856811
>It is not scarcity that gives it value but the work done in order to create it. The mining process is necessary for the integrity of the system.
2/3rd of the miner network distribution is located in china. Whole lot of decentralization there bitchcoin.

[Anonymous No.18857251]

>>18849370
Nope.
People started using metals like gold as soon they found them. Because they were fucking easy to melt.

[Anonymous No.18857264]

>>18856875
"Created to be inherently scarce"
Buzzwords and marketing phrases. Look into actual process instead, which is the work done that ensures authenticity. Scarcity is subjective and manipultable. We didn't know the fed would print so much money yet here we are. Requiring the proof of work distinguishes it from general scarcity that is subject to control and compromise. No one not even the most powerful person on earth can print bitcoin without work done.

[Anonymous No.18857297]

>>18857195
The only problem with xmr guys is they underestimate the retardation of everyone else. Bitcoin's transparency is not normal. No money in history has worked as a fully traceable public ledger. That alone is retarded but an even more critical feature of money that btc doesn't have is fungibility. Each bitcoin output is a product of its unique history and this makes every coin unique and therefore not fungible and therefore not useful as money.

[Anonymous No.18857304]

>>18857209
I treat bitcoin the same way I treat gold. You don't use gold to buy groceries, you don't buy gold one month and sell it the next, you treat it as a windfall/retirement fund, something detached from fiat currency.
>>18857264
ok, scarcity is subjective and manipulable, diamonds are a pretty good example. but the argument you provide can be applied to any cryptocurrency that exists and will ever exist. I am once again referring to what separates bitcoin from alt coins.

[Anonymous No.18857357]

>>18857304
>I treat bitcoin the same way I treat gold.
I hope not because cashing out 10% of your gold stack doesn't reveal the rest of your stack to the buyer.

[Anonymous No.18857389]

>>18857357
>implying the bitcoin is stored all in one place.
?????

[Anonymous No.18857416]

>>18849428
>he doesn’t know

[Anonymous No.18857517]

>>18857389
>implying you bought and stored btc in carefully planned tranches that matched unforeseeable future cash out needs

[Anonymous No.18857657]

>>18857517
I did not setup mine in a way to reasonably cash out because I do not plan to do so until 2030. Save what you can afford to do without. Should things get really bad for one reason or another I can always fall back on it, but that is not the main purpose it serves for me.
But in the end it depends on what purpose each person wants for their btc / gold

[Anonymous No.18857870]

literally name 1 (one) cryptoshit coin that has any real world use

im waiting