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/biz/ - Business & Finance

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19267242 No.19267242 [Reply] [Original]

Why is this board only focused on cryptocurrency?

>> No.19267267

>>19267242
/biz/ was created because /g/ got annoyed by all the bitcoin/crypto threads so it's basically always been a crypto focused board.

it didn't always used to be 98% crypto though. part of that is that discord groups/pajeets use it to shill pump and dumps now.

>> No.19267371

>>19267242
Because the board is a bunch of NEETs and children who think a $1500 position in BTC is going to moon them to billionaire levels.
Go make a thread about how to double your income in 5 years and it will be silent but if you make a thread about the latest shit coin it will be full to the brim in an hour.
The YouTube comment sections are unironically a better means of discussion.

>> No.19267420

>>19267242

because crypto is the best way to make money now. A literal drooling retard can make tons of money by betting on the latest meme coin

>> No.19267577

because it's low effort, that's the simple truth

>> No.19267603

>>19267242
Low barrier to entry and shrouded in the perception of fantastical profits. The reality of course is that crypto is a bottomless money sink.

>> No.19267606

>>19267420
this
and crypto is the future

>> No.19267613

>>19267267
This is the correct answer newfags

>> No.19267636

>>19267242
More money to gain and lose in everything else.

>> No.19267701

>>19267242
Is that a real place

>> No.19267711

you see what you wanna see on 4chan

>> No.19268022

Nocoiner cope: the thread.

If you have browsed biz for more than 6 months and still haven’t realised that LINK is the new Amazon/Microsoft, congratulations, you are a short sighted imbecile.

>> No.19268106

>>19267242
quick
"easy" (no work)
gambling on a possible 1000x
better than working any job

>> No.19268170

>>19267242
years ago it was about adsense, youtube videos, and reselling shit from craigslist, figure it out

>> No.19268347

>>19267242
unlike creating a profitable business it doesnt take much time and effort, and it doesnt require the ability to focus attention on a single object for more than a minute to insert coin in crypto slot machine

>> No.19268538

People like fast rewards. Investing in big solid companies is a better idea but it won't make you rich overnight.
People cling to crypto because they want to find the next Btc and become rich fast with no effort.

It's a pipe-dream of course.

>> No.19268558

cyptocurrency is just the best asset class right now

>> No.19268595

Because fren Cryptocurrency is where IT IS Happening!

>> No.19268611

>>19268022
Its gems of truth such as these that literally save lives every day.

>> No.19268615

>>19267371
based. majority of this board is nothing but poors, NEETs, and students who think a 10-100x return on investment is realistic.

>> No.19268628

>>19267420
wrong. only way you're making money is through early stage pump and dump. someone has to be the bagholder when you sell. in all likelihood it will be you.

>> No.19268647

Because if I had invested in the right coins I could be worth tens of millions of dollars right now. Bought 3000 of ethereum in December 2016, transferred to antshares before the rocket ride, then chain link and a few others. Unfortunately I was a retard and I moved out of all of them before the big gains happened. But if I was a bit more experienced and patient, I could have blown stock gains out of the water.

>> No.19268648
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19268648

>>19267242
When I started on /biz/ in 2014 I split my net worth (40k) into four stacks, a Forex/Bond market stack, a Crypto stack, a penny stock and a blue chip stocks stack. To date their balances are:
Forex: 16k
Penny stocks: 22k
Stocks: 1k
Crypto: 280k
Go figure.

>> No.19268656

>>19267242
because it's a board of mongoloids

>> No.19268688

>>19268648
how the fuck did you lose 9k between 2014-2020 with blue chip stocks? that seems impossible. did you switch the penny stock and blue chip numbers?

>> No.19268695

>>19267267
This

>> No.19268715
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19268715

>>19267371
>>19267603
>>19268538
>>19268615
>>19268628

Are people trolling, salty, or disingenuous when they do this? Crypto is volatile, yes. But you fucking retards dont understand how forgiving it is. Go bet on a risky stock with a decent amount of your net worth and have it go down 50-90% because you didn't do your research=get FUCKED for life. Same situation in crypto is called Friday night faggots and all will be well the following week.

Also, whats with all this bullshit about no money? LMAO I came to biz with 5k after never having invested in my life in summer 2018, blasted it to over 100k within a year just from ONE pick from this site. Who the fuck is down in crypto right now????

>> No.19268762

>>19268688
I meant to put 10k, dropped a 0

>> No.19268785

>>19268688
Because he's full of shit and hoping his larp sends a few more suckers over to buy the heavy alt coin bags he's holding.

>> No.19268818

>>19268762
still that's really hard to believe. the dow was 16k in 2014 and it's 24k now. you'd have to be a really terrible investor to only break even with blue chip stocks in that time period.

>> No.19268834

>>19268715
yeah man you're right, crypto is 100% way to make positive return every step of the way. go invest everything in crypto. surely it won't fail.

>> No.19268892

>>19268818
I am a terrible investor, but even being terrible I made a ton on shitcoins.

>> No.19268899

>>19268892
what blue chip stocks did you invest in that you only broke even? i'm curious.

>> No.19268905

>>19267242
because stock is just crypto with shit returns

>> No.19268914

>>19268715
here's a list of the "hottest" craptocurrencies over the past 2 years. everyone was sure they would moon, just look at message board posts from 2018-2019. now look at their performance over the past year. yeah man, sure fire way to make tons of money.

XRP
LTC
XMR
ADA
NEO
IOTA
BCH

>> No.19268961
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19268961

/biz/ captured the imagination of anons who were just getting into their first jobs or into college. They were mostly interested in the stock market and crypto. Movies such as the 2015 hit "Big Short" fuelled the hype about bull and bear markets. They cryptopajeets banished from /g/ then thought they were the actual reason for all of this interest. And some of them still do. But they are still tolerated on the board.

>> No.19269012

>>19268899
He definitely went all in on LARP

>> No.19269026

>>19268914
yeah it would be impossible to put 10k in "blue chip" stocks in 2014 and break even by 2020. he's probably trying to look up blue chip stocks with the worst returns right now.

>> No.19269121

>>19267267
this is complete fucking bullshit
biz didnt even have a single crypto post until 2014

>> No.19269166

>>19269121
/biz/ was created in 2014 retard

>> No.19269273

>>19268899
Mostly pharma and industry like J&J but I sold the bottom of the 2018 dip and then the 2020 dip and bought the tops both times which cancelled out my gains.

>> No.19269765

There are few ways to make money nowadays. Also 4chanel is very normie-tier now. It’s not like sharing to a small like minded audience anymore. Those times are gone.

Also the shills and other agency folks.

>> No.19269956

>>19269166
your mom was created in 2014

>> No.19270118

>>19268715

if you buy stocks on major indexes the only way they go is up. Bitcoin and all alts will crash to nothing for no apparent reason at some point, because crypto is a ponzi.

I can look at the earnings / future earnings of a company and decide reasonable stock price. Crypto on the other hand is not valued based on anything fundamental, it's purely specualtion and that's why it's gonna crash to nothing at some point, while my stocks won't.

>> No.19270180

>>19269273

Try buying the top and sell the bottom with crypto and see how you do lmao.
Of course you wont make many with stonks if thats how you time things.

>> No.19270360
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19270360

>>19270180
I do pretty well with crypto, I have for years, the tops and bottoms are extremely obvious if you keep an eye on normie sentiment, watch the telegram and discord, watch the biz shills etc. You can make a killing because you're not competing against billion dollar banks. Adjusted for inflation the S&P hasn't even returned to it's pre 9/11 height. It's a zombie market and you don't even realise it.

>> No.19270423

despite what everyone thinks crypto is still in its infancy. There is still lots of money to be made over the next 20+years, you'd be a fool not to see the writing on the wall. It's just gonna get bigger.

>> No.19270840
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19270840

>>19267242
Is it still a crypto if it only returns a 2x? Stocks seem like a better investment because of the boomers pumping their scam artificially.

>> No.19270959

>>19267371
sure if you have a couple of hundred thousand dollars
crypto is a new market and a little percentage of it has merit and a bright future
most people don't have that much money so for them it's either they make it with crypto or they don't but at least they try
what would be the point for someone to double a couple of grand in 5 years. great now they have $4k which are more like $3.5k considering the inflation. lol

>> No.19271635

>>19268347
Some people are investing in a vision. Tell the NKN devs how "easy" it is what they are doing and they will think you are an idiot. Try researching and developing something like that. To comprehend how much time and effort and man hours went into it. And then there are people here that have the nerve to call it and good projects like it a chink scam. Make something better. You can't? Then shut the fuck up retard.

>> No.19271928

>>19267242
right. focus on pregnancy.

>> No.19272145

The thing with crypto is that because there are no fundamentals and no way to agree on what a coin is worth, the value at any time is given by a log-normal distribution. The only thing that evenually puts the brakes on its growth is when the market cap becomes so large that you run out of even mainstream buyers.

However, the nice part of investing in an asset with log-normal volatility is that the expectation value of multiple investments is positive because of convexity. If you split your money equally in two volatile assets, and one doubles while the other halves, you are still up 25%. The math generalizes, to the point where putting some amount of money in crypto is worth it purely because of gains to be had from diversifying & rebalancing.

In practice, the crypto markets are also really inefficient compared to the other financial markets. I can write a trading algo for bitcoin that makes me 80% a year with max drawdowns of 10% and which is delta-neutral for large moves if you are allowed to short btc, so that it effectively makes money both on the way up and down, even after fees.

With stocks I seriously can't seem to find a single algorithm that does better than buy & hold in the long term. With forex I can find algorithms that make money, but the return is minimal unless you add unhealthy amounts of leverage that can put me in debt in the event of a flash crash, which is unnecessary for bitcoin.

>> No.19273155

>>19270360
>Being this retarded
Your chart ends in 2010 you filthy pajeet. Adjusted for inflation, the S&P is over 30% higher than it was in 2000.

>> No.19273334

Honestly crypto is cool beacuse shit like XMR allows for anonymous transactions,but its still too young to offer long term profitability

>> No.19273692
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19273692

Because you can easily get rich with an investment of a couple hundred dollars in a solid microcap like 0xMonero.

>> No.19273766

>>19273155
Woah dude, 30% returns in just 20 years. Compounded that means in 60 years I'll have double my money. I'll definitely be able to retire then!