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/biz/ - Business & Finance


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23042126 No.23042126 [Reply] [Original]

It's going to happen during a disputed election in the country of the world's reserve currency.

So far at least two businesses have transferred their cash reserves to bitcoin.
Micro Strategy and one other.
The dominoes are going to fall in the coming months.

I wouldn't be surprised if bitcoin businesses are raided by U.S. Feds.

The BitMEX crackdown is ridiculous in light of the FinCEN files.
Deutsch bank was literally financing child sex trafficking with Epstein and terrorism with Daesh, and the U.S. CFTC and DOJ decide to go after BitMEX instead.
Their selective enforcement and poor judgement have caused many people to question their credibility.

>> No.23042373

>>23042126
While I want to agree with you I have a hard time doing so. If the election brings turmoil the stock market is going to bring everything crypto down with it a la black swan wu flu

>> No.23042444

>>23042126
What are the FinCEN files?

>> No.23042458

>>23042373
Golden bull run isn't happening this year, but it will winter of 2021, once Trump is out of office, there is a vaccine, and things have stabilized

>> No.23042466

>>23042126
This charts a meme, it only looks accurate because it was made retroactively

>> No.23042475

>>23042126
>Deutsch bank was literally financing child sex trafficking with Epstein and terrorism with Daesh, and the U.S. CFTC and DOJ decide to go after BitMEX instead.

would you really have expected anything different?

>> No.23042486

I don't think it will look like 2017, I think if it happens it will stay low and surpressed in price for ages. Then suddenly spring up like 2013.

>> No.23042488

>>23042458
once redditors go back is when the moon mission starts

>> No.23042498

>>23042458
new peak won't be until winter 2021 or even early 2022, but we'll push above 15k and then 20k over the next 3-6 months, probably a slow steady climb with a crash or two for good measure.

>> No.23042502

>Elites are literally fucking the decapitated heads of children in sex dungeons but instead the "justice system" goes after goyim cattle who are committing non-crimes, can ya believe that?

>> No.23042530
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23042530

>Deutsche Bank: *literally and provably funds terrorists*
>USG: "HEY GOY! YOU CAN'T JUST FREELY BUY BITCOIN WITHOUT KYC, IT COULD BE USED TO FUND TERRORISM!"

Why'd you have to go and make me seethe this late at night OP

>> No.23042561

>>23042126
Bitcoin is a shitcoin you fucking boomer, do you not understand how technology works? It can’t scale. Normie money will pour into it for a little while this bullrun, bring it up to around 100K (ya not a bad profit), then BTC whales will have the sufficient liquidity they’ve been waiting for in order to cash out into LINK and other legitimate projects whose inherent value doesn’t derive purely from the scarcity meme. Bet big on big data and buy LINK

>> No.23042603

>>23042561
you literally just said BTC will go to 100k, stupid faggot. And yes, BTC is a shitcoin, but the whole market won't rise until it does. I'm buying XMR.

>> No.23042633
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23042633

>>23042603
>but the whole market won't rise until it does

wait for BTC to get unstuck from the 20 week MA, that's when things should get interesting for ETH and our shitcoins

>> No.23042647

>>23042603
Yes. It probably will. But the opportunity cost of holding BTC as opposed to projects will actual use cases and inherent value tied to data rather than pure scarcity is too great to legitimize holding any sort of majority BTC position. Obviously gains will be made on bitcoin. But I promise you the golden gains are elsewhere. Also, good choice with XMR. LINK/XMR is probably the best duo. But I stand my ground that BTC is a shitcoin and 2nd layer scaling will honestly just be too costly to implement considering better projects already exist

>> No.23042674

>>23042647
First mover advantage will begin to become a meme for Bitcoin as SOON as legacy systems implement the first and second project into an actual widespread framework

>> No.23042691

>>23042647

it's kind of a bother that coinbase won't support XMR. not being listed on trustworthy exchanges isn't going to help it.

>> No.23042697
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23042697

>>23042561
>thinks 'technology' has anything to do with it
ngmi

>> No.23042729

>>23042647
There's a trade off between a guaranteed 10x (10k to 100k BTC) and gambling your money on ETH shitcoins. DeFi is a fucking ponzi, you could get the next 100x or 1000x, or you could get absolutely rugged.

LINK has an actual product, albeit it's only fueling the DeFi ponzi. XMR is used now in the #1 dark net market. As much as I hate that ((they)) have changed its definition from a digital currency, BTC has its use as a store of value.

ETH is a failure. Vitalik should be ashamed.

>> No.23042730

>>23042691
It is frustrating for sure, but I suppose in some ways it speaks testament to the off-grid nature and philosophy of XMR. It truly is the ONLY currency that operates outside the government’s reach at this point (BTC privacy is a meme and it’s become a honeypot for “private” Txs). At the moment I hold zero XMR desu, but given the recent uptrend and my faith in its underground adoption I think I’ll begin DCAing

>> No.23042746

>>23042697
Cringe. I literally mentioned how money will flow into it in the short run despite the shit tech. But if you think that’s sustainable then you’re going to get the fattest fucking rug pulled out from under you. I pray you’re not a maxi. Use BTC as a short term (1-2 year) play.

>> No.23042755

>>23042691
I mean, you can get it from Kraken, which is in some ways better than Coinbase. But while it definitely is a pain, people who are legitimately concerned with their privacy and interested in getting XMR can easily do so using a combination of VPNs and third party swapping sites, and XMR trustless atomic swaps are in the works already.

>> No.23042786

>>23042126
It was NY state AG that indicted Mr Hayes

>> No.23042802

>>23042729
I’d agree 99% of DeFi is a ponzi meme, but ultimately I think LINK is the golden goose. LINK has use cases that extend far far beyond the current DeFi ponzi also. That’s ultimately why I’m a quasi-maxi. I understand how BTC could be view as a SoV given the scarcity, but the big question mark that remains in my head is whether or not pure scarcity is enough to “convince” (or rather establish) some sort of INHERENT value, like gold for example. Other coins also have scarcity now. And certain projects (I realize I keep going back to it, but) like LINK are directly tied to the value of data, which is massive in the upcoming digital Information Age. There is a possibility BTC remains and I definitely understated the possibility initially, but it’s not something I could personally invest in given what I said before

>> No.23042801

>>23042647
>opportunity cost

Literally the most worthless pop. econ topic ever created

>> No.23042818

>>23042801
You’re a joke. It’s literal math.
>>23042729
Yes Vitalik should be fucking ashamed unless he literally drops a bombshell amazing 2.0 soon that is somehow better in every way than competitors

>> No.23042820
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23042820

>>23042746
>Cringe.
You're on 4chan bro, this entire site is cringe.
Also way to dodge the point, your clearly superior intellect is quite apparent. I will surely trust my financial future to big brain anons like yourself.

>> No.23042838

>>23042820
u hav small pp heehee

>> No.23042874

>>23042802
BTC is only given its value based on what people decide it's worth based on its scarcity. I think it's at the point where enough people provide this value such that its reputation now will not allow it to go down to lower levels seen in the past. That is, BTC can never go down to 1k, because enough people will consider 1k a steal of a price based on the price now, and buy it all up. The fact that the core developers are absolutely resistant to changing or improving anything about BTC supports this - they don't want to risk changing its reputation as the store of value.

For your sake, I hope you're also right about LINK, which has the first mover advantage for oracles. But considering CZ is backing Band with all his might, and Polkadot has announced that they will have integrated oracles, I'm not too sure.

>> No.23042889

Guys, are you aware that 2021 is the year of the Metal Ox in Chinese calendar?

https://www.thechinesezodiac.org/chinese-horoscope-2021-year-of-the-metal-ox/

Metal = Gold
Animal = Ox

THE GOLDEN BULLRUN

>> No.23042898

>>23042818
2.0 doesn't change shit at this point other than people won't be paying $50 in gas for buying their shitcoins on Uniswap. There's still no real world use case for Eth other than being a ponzi.

>> No.23042905

>>23042818
Nah, its a meme. the universe doesn't care that betamax was better than vhs, and no one is going to buy your defi shitcoins. They are all going to zero and you are going to staymad forever, the end.

>> No.23042911

>>23042889
This is extremely good news anon

>> No.23042913

>>23042126
Gross....

It's... Reproducing....

>> No.23042942

>>23042874
>For your sake, I hope you're also right about LINK, which has the first mover advantage for oracles. But considering CZ is backing Band with all his might, and Polkadot has announced that they will have integrated oracles, I'm not too sure.

LINK has been outperforming the market since 2018.

In your scenario you are waiting for a bullrun, but for some reason, only your coins of choice like XMR, Polkadot and BAND are going to enjoy the fruits of the bull, while Chainlink will not? You're biased yourself

>> No.23042946

>>23042647
>But the opportunity cost of holding BTC as opposed to projects will actual use cases and inherent value tied to data rather than pure scarcity is too great to legitimize holding any sort of majority BTC position.

So would IOTA be a good buy?

>> No.23042965

>>23042874
>BTC is only given its value based on what people decide it's worth based on its scarcity.

it's not merely based on scarcity. you still have to be able to transact without too much trouble. nevermind that bitcoin's hashrate is dependent on low-cost electrical energy. there are plenty of coins that are just as scarce. bitcoin is based on inefficiency.

>> No.23042967

>>23042889
Good info.

>> No.23043016

>>23042942
Yes, LINK has outperformed, but it's followed the market cycle graph to the t. No one knows if it will recover, or if it was just based on hype.

I'm not shilling Polkadot and BAND. I fucking hate BAND for being riding on CZ's coattails, and I am still not sure if Polkadot will ever replace Eth. I only like XMR out of those three, and that's because it serves a totally different purpose outside the smart contract ecosystem.

>> No.23043023

>>23042889
Wow this is a game changer

>> No.23043034

>>23043016
XMR is total trash my dude, you sound like you own zero Chainlink and have heavy bags of XMR

>> No.23043048

>>23042946
IOTA price is literally my barometer of altcoin market irrationality. I'm not even kidding. It began in 2017, above 0.5 being market in irrational mode. Each successive year this threshold reduces by 0.1. In 2018 it was 0.4, 2019, 0.3, and in 2020, it is 0.2.The altcoin market is officially in an irrational posture at 0.27, and was retarded in mid summer. All this means is, there is still plenty of anon's "opportunity cost" to come bleeding out of altcoins.

>> No.23043051

>>23042965
Yes you're right. Sorry, it's not just scarcity. But you agree that it will be hard to ever reduce BTC's reputation as a store of value even though pretty much any decent coin that has come out recently is superior. Not to mention it's established as the main trading pair on all exchanges. This will never change.

I agree that BTC is based on inefficiency. I fucking hate PoW. But if the Chinese overlords with their cheap dam-generated electricity say so, BTC is here to stay.

>> No.23043055

I said it before and I'll say it again.
2021 December 20k start of parabolic rise
2023 December 300k peak

We're all gonna make it.

>> No.23043056

>>23042965
Total smooth brain opinion thinking bitcoin's mining industry isn't bullish for the project.

>> No.23043094

>>23043051
>I agree that BTC is based on inefficiency.
What does that even mean, lol.
Do you guys not understand that hash rate is for security and not for pushing transactions?

>> No.23043100

>>23043034
fuck off, I was in the /biz/ presales back in 2017. But I don't get absolutely married to a coin when it's clear that its dominance is going to be disrupted.

XMR and LINK are completely separated in use case. My bags of XMR definitely aren't heavy, have you looked at its price, shithead?

>> No.23043113

>>23043051
>But you agree that it will be hard to ever reduce BTC's reputation as a store of value even though pretty much any decent coin that has come out recently is superior. Not to mention it's established as the main trading pair on all exchanges. This will never change.

i don't agree with that. if people are underwhelmed with its performance they can just pick any other top-10-marketcap coin that runs faster and is historically just as reliable.

>I agree that BTC is based on inefficiency. I fucking hate PoW. But if the Chinese overlords with their cheap dam-generated electricity say so, BTC is here to stay.
they have the digital yuan. their government could put a stop to it any second, and that would be it. it would be completely over for bitcoin in a flash.

>> No.23043124

>>23043100
>But I don't get absolutely married to a coin when it's clear that its dominance is going to be disrupted.

You're mentioned fucking BAND PROTOCOL and native oracles on Polkadot? (While Polkadot itself will probably utilize Chainlink to begin with https://polkadot.network/chainlink-reaches-milestone-with-polkadot/))

I'm sorry my dude, there is no competition to Chainlink when it comes to oracles, you might aswell say something totally stupid like "ADA native oracles will replace Chainlink"

Link is already the de-facto standard, game is over.

>> No.23043125

>>23042530
Douchebank is a fucking joke.

>> No.23043145

>>23043124
why are you posting outdated news?
https://cointelegraph.com/news/polkadot-s-substrate-2-0-integrates-oracles-at-a-protocol-level

>> No.23043171

>>23043145
It will be same sort of solution like ADA, who offers TOOLS to developers to have a CHOICE. They will not be forcing:
>Everybody will have to use POLKADOT'S NATIVE ORACLES on the Polkadot network

That's not what it is about, there will be a choice for developers to utilize Chainlink, just like ADA offered/offers the same type of CHOICE.

>> No.23043175

>>23043113
cont.

you'd have to be an idiot, or at least very ignorant (or have some insider info) to be fully confident in bitcoin at this point in time.

>> No.23043189

>>23043113
ETH is the by far the only top 10 coin that stands a chance at replacing BTC. But there is no push by any of the major players to replace BTC with ETH. No exchange is declaring that their trading pairs will now be all on ETH rather than BTC.

China would be absolutely dumbshit if they decide to stop BTC mining, which is at least 65% centralized in China at this point. They could fucking cause a 51% attack at this point, but they won't because that would absolutely crash the ~200 bil market cap of BTC in an instant.

>> No.23043190

>>23043145
How many times have we seen someone try to implement an in-house oracle solution and see it utterly fail, then subsequently bend the knee to Chainlink

>> No.23043200

>>23043175
There isn't a single project that ensures your ability to validate the network besides bitcoin.
Big money isn't going to trust some dork with a premine.

You need to look into nuances and stop falling for marketing gimmicks.

>> No.23043207

>>23042801
>>23042905
dude, nice meme i mean really impressive.

>> No.23043242

>>23043171
I didn't say Polkadot would be forcing people to use their integrated oracles. Don't even mention ADA, that's a true shitcoin. All I'm saying is that there are legitimate competitors in the oracle space, and that poses a risk towards the market share of LINK, which is the current dominating player. Nothing like this is seen with BTC.

>>23043175
I am by no means a BTC maximalist. I hope that BTC eventually goes down to make room for legitimate coins with PoS or something better. But there's no denying that BTC is here to stay, at least for the next few decades.

>> No.23043265

why not Zcash over XMR? positive price movement, similar use cases, tradeable on major exchanges...

>> No.23043268

>>23043189
>ETH is the by far the only top 10 coin that stands a chance at replacing BTC. But there is no push by any of the major players to replace BTC with ETH. No exchange is declaring that their trading pairs will now be all on ETH rather than BTC.

lol, so what? when the bitcoin network is stressed and fails to meet expectations people will move to another coin, and only then will exchanges react.

>China would be absolutely dumbshit if they decide to stop BTC mining, which is at least 65% centralized in China at this point. They could fucking cause a 51% attack at this point, but they won't because that would absolutely crash the ~200 bil market cap of BTC in an instant.

they could and probably should put a stop to it.

>> No.23043289

>>23043190
Oracles are like fucking 3 years old at this point. Please, list those attempts on your 10 fingers. As far as I know, BZRX completely fucked up with their oracles during their hack, but things change rapidly. There's also Tellor and DIA now with the backing of CZ and other powerhouses. I'm not saying that these are superior to LINK, all I'm saying is that there are potentially legitimate competitors in this space.

>> No.23043293

>>23043242
>legitimate coins with PoS or something better
Never going to work.
A coalition will form and influence governance because there isn't a risk of forking off the economy.
Selfish governance will ruin the project.
The game theory of PoS fails.
The commoner running a node is crucial to the separation of powers and governance of a chain.

>> No.23043310

>>23043268
BTC was only stressed during the absolute peak of the 2017 bull run, where transactions were taking hours. But nothing's changed. People were saying that it was just a necessary evil of trying to transact with a store of value. They were saying to use ETH, or fucking LTC for quick transactions, but once the BTC mempool went back down, everything went back to normal.

>> No.23043321

>>23043268
>lol, so what? when the bitcoin network is stressed and fails to meet expectations people will move to another coin
Replace BTC with ETH these past couple months
Then pump up whatever project comes after ETH now it has high fees.

You guys have no understanding of how this works.

>> No.23043329

>>23043293
Again, China having at least 65% of the hash rate already shows that PoW has failed. But the game theory of PoW and PoS will not fail, because the people maintaining the network of their coin will not deliberately sabotage themselves. That's like shooting themselves in the foot. Only pieces of shit like ETC get 51% attacked

>> No.23043359

>>23043321

i never said anything about eth replacing bitcoin.

>> No.23043374

>>23043359
No, but that's exactly what happened during the DeFi craze. And while people are saying that such and such coin is going to replace Eth, that shit ain't happening anytime soon.

>> No.23043376

Bitcoin remains stable even KuCoin hack which is good sign

https://www.coincurb.com/news/kucoin-ceo-johnny-lyu-claim-200-million-crypto-hacker-has-identified/

>> No.23043377

>>23042126
OP is right. Saudi is coming soon. Get ready.

>> No.23043381

>>23043329
ETH constantly gets b.s. added to it because you're unable to validate a node.
The same shit will happen in PoS because you're unable to bootstrap the network and enforce the rules.

Bitcoin mining is being distributed around the globe.
Maybe 65% is in the pools but it doesn't signify where the miners are located.
A recent study was done and 4x the bitcoin hashrate in electricty is wasted in natural gas flaring in USA so that market is booming right now.
Self validation and PoW is the most secure method by far.
It'll only get more decentralized as time goes on, can't say the same about any other project.

>> No.23043394

>>23043374
>people are saying that such and such coin is going to replace Eth, that shit ain't happening anytime soon.

Just like you are saying that such and such shitcoins like Tellor, DIA and BAND will just suddenly replace Chainlink

Will happen any day now you guys!

>> No.23043431

Bitcoin repeatedly shoots itself in the foot to maintain decentralization.
The developers are thinking long term and will do whatever to keep to that ethos.

Meanwhile all these shitcoins lie about being decentralized, and have marketing teams it's ridiculous.

>> No.23043440

>>23043374

because eth and bitcoin have momentum and inertia.

>>23043293
pow-based coins will always converge to an exclusive group with specialized asics. decentralization is never really a stable state of affairs.

>> No.23043447

>muh choina ban
smoothbrains repeat this as cope because they truly believe the 2017 era china fud.
a lockdown on fiat to crypto exchanges and locking down any onramp is more of a threat to crypto yet they latch onto this china mining ban because they don't have any btc and want to see it fail.

>> No.23043458

>>23043394
You're right. I see the contradiction I've been making. Good luck with your Chainlink. Hopefully it develops as much network effect as BTC and ETH.

>> No.23043460

>>23043381
>It'll only get more decentralized as time goes on

is not and cannot be true. the laws of physics themselves are against this.

>> No.23043467

>>23043440
Maybe for small time coins in the ASIC race, but bitcoin already went through that and has hit Moore's law.
There are more bitcoin ASIC manufacturers today then 3-4 years ago.

>> No.23043475
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23043475

>>23043440
That's why I buy motherfuking XMR. Any ASICs are shot down by forks.

>> No.23043482
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23043482

>>23043431
the plethora of shitcoins is the most bullish thing for BTC. If there were only a few solid players, it'd be less confusing to normies.
As is they learn about BTC, then if they want know more, ETH, which finally leads to a list of 1000s of coins of various claimed functions and values, which makes them shut the fuck down and just buy BTC.

>> No.23043485

>>23043460
How so?

>> No.23043489

>>23043467
All bitcoin ASIC manufacturers are based in China, where silicon manufacturing is dirt cheap

>> No.23043508

>>23043489
TSMC is in Taiwan and opening another plant in Arizona.

>> No.23043514

>>23043460
I don't believe the hype but there is a possibility.
Feb 2020:
>With the goal of repatriating U.S. Bitcoin mining, Layer1 aims to scale up to 100 megawatts in the coming months and exceed 2% of the total Bitcoin hashrate, with a roadmap to reach 30% by the end of 2021.
In May 2020 they said they can mine at a cost of about $1000 per bitcoin. So after the halving it should be around $2000 per bitcoin. Keep an eye out for companies like that; the longer they're around the greater the chance that they are in fact sustainable and will take a growing share.

>> No.23043543

>>23043485

the miracle of self-organization. pow-based coins are on borrowed time. might as well cut to the chase.

>> No.23043545

>>23043543
Lol, and that doesn't explain anything.

>> No.23043546

>>23043508
TSMC is my bae, I own stock in it. But they only manufacture for Chinese companies. They don't mine themselves.

>> No.23043550

>>23043514

you know and i know that this will never fucking happen.

>> No.23043578

>>23043546
I think in the future ASIC wafers are going to get dirt cheap.
The game is already becoming clear now that miners are more concerned with cheap electricity as opposed to the most efficient chip.
This trend is going to continue.

>> No.23043586

>>23042942
>LINK has been outperforming the market since 2018.
It hasn't been outperforming HEX in 2020. this nigga wants to talk about performance baka

>> No.23043593

>>23043578
For sure, ASIC are a 1 time purchase, whereas electricity is a continuous cost. That's why places with cheap electricity like China are dominating.

>> No.23043613

>>23043578

what's the point of even selling a well-designed asic? use it yourself to mine. inefficient miners will be priced out by electricity costs.

>> No.23043685

>>23043293
>>legitimate coins with PoS or something better
>Never going to work.
HEX. google it.

>> No.23043691

>>23042126

I agree, crypto mooning is an attack on Trump

>> No.23043699

at best it's a store of value, and it's not necessary for that purpose either. gold/silver in the safe doesn't use any power and you can use it without informing the entire world.

>> No.23043702

>>23042946
Yes.

>> No.23043715

>>23043377

Source?

>> No.23043718

>>23043613
The logistics involving navigating in multiple jurisdictions with cheap electricity would cost sink the efficiency of your chip.
At some point it's cheaper to make millions of wafers than make the miners with them and locate the places to mine profitably.

For someone on solar an s9 can still be profitable depending on the price they got it for (next to nothing) and the amount of excess they produce.

>> No.23043723

not that i wouldn't keep a bit, but i have serious doubts about bitcoins ability to fulfill its purpose

>> No.23043732

>>23043718
>The logistics involving navigating in multiple jurisdictions with cheap electricity would cost sink the efficiency of your chip.

move the machines where they need to go and set them up? doesn't seem terribly hard to me.

>> No.23043740

>>23043055
$300k graduating

>> No.23043756

>>23043699
The entire world 's economy is built off banks that at one time said their contracts are backed by gold.
What we found out is that they lied.

Nobody would trust fiat if there was an alternative.
Bitcoin is bridging that gap.
Bitcoin will have DEX on lightning network next year.
https://rgb-org.github.io/

>> No.23043789

>>23043756

you can own physical gold/silver, you know?

>> No.23043800

>>23043789
Can I put my physical in a contract without having to trust a 3rd party?

>> No.23043813

>>23043800
if you have the physical bullion in your possession, it's not in a third party

>> No.23043841

>>23043800

even being on a computer constitutes a counterparty risk, since you've also involved intel, the chinese company that made your motherboard, the idiot who wrote the remote management software your motherboard runs, etc.

there is no such thing as trustlessness. you're just shifting it around.

>> No.23043842

>>23043813
And it just sits in a safe, while gold was historically used in futures to earn more gold.

>> No.23043854

>>23043841
A motherboard can't influence a contract on a decentralized consensus.

>> No.23043861

>>23043732
>just build a company to handle regional real estate, personnel, finance, and legal matters for your international mining operation lmao

>> No.23043873

>>23043854

and you think everyone will do business that way? i don't know man. maybe someday, but i don't think it'll be on the bitcoin blockchain.

>> No.23043880

>>23042444
https://en.wikipedia.org/wiki/FinCEN_Files

>> No.23043904
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23043904

>>23043873
Yeah dude because we need something to anchor our economy to in the digital age.

https://wtfhappenedin1971.com/
Going off the gold standard was a huge mistake.
Going back on it with bitcoin will bring a digital renaissance.

>> No.23043909

>>23043904

it will not be bitcoin due to bitcoin's tremendous inefficiency.

>> No.23043937

>>23043909
>bitcoin's tremendous inefficiency.
What does this mean?
Everything has cost benefit relationships and bitcoin went with decentralization, security, etc.
I'd say it's base layer is the most efficient use of space out of any coin.
1,000s of lightning network transactions consolidating into 1 on chain is efficient.
Requiring an archive node on ETH to download 1,000 sushi swaps or whatever is inefficient.

>> No.23043963

I got to go thanks for a good discussion biz bros it was fun

>> No.23043975

>>23042126
Always DCAing

Loading up on some DeFi gems like FLETA, RFUEL and OM too as I think these will bring bigger rewards than BTC short-med term

>> No.23043980

>>23043937

i have not once advocated for eth in this thread.

>decentralization, security, etc.

i thought we've already established that bitcoin is centralized in china, so it's neither decentralized nor secure. you're relying on an awful lot of if's.

>> No.23043997

>>23043909
Btc will be a reality peg ,an accepted basis, a symbol of the new renaissance. Much like gold it'll have limited real world application in a total digital economy.

>> No.23044000

>>23043980
You cannot explain your position on efficiency so I have no idea what you're even talking about lol
good luck

>> No.23044005

Current $RFUEL price $0.123782 USD, and someone almost talked me out of my investment, fear is evil but ignorance is worse.
If you ask me I'll tell you buying $RFUEL is one of the best decisions I had made in 2020. Go buy $RFUEL and let's look forward to the journey, I promise it's going to be worth it

>> No.23044044

>>23044000

pow-based cryptos are inefficient because they force hundreds of thousands of people to brute force sha256 evaluation. it's the very definition of inefficiency and slowness. hashcash was *invented* to be inefficient, with the hope that this inefficiency would be tolerated by the user. but email and financial transactions are two very different things.

>> No.23044055

>>23042458
At least 2 of those things are just things you wish would happen, but have no evidence for.

>> No.23044121

>>23044055
List the 2 out of 3 then.

>> No.23044157
File: 134 KB, 300x370, 300px-ConeHatSeal1.png [View same] [iqdb] [saucenao] [google]
23044157

Guys where can I bet on the US presidential elections to get a cool 20x or even a 50x? I have like 100k USDs to bet with.

>> No.23044205

>>23044044
cont.

whether or not this waste is necessary depends on your point of view, but i'm sure there are many people who feel it's not.

>> No.23044381
File: 10 KB, 250x242, 1600341603854s.jpg [View same] [iqdb] [saucenao] [google]
23044381

>>23043975
at least there one smart guy on this thread

>> No.23044438

>>23042530
Literally fucking clown world

>> No.23044497

What crypto has literally every normie heard of? BTC. That’s what’s going to moon.

>> No.23044587

>>23042458
>once Trump is out of office
reddit delusion. you should try spending less time there

>> No.23044589

>>23042475
People thinks this was some extraordinary event while every single bank is doing this kind of stuff, today

>> No.23044590

>>23044497
most normies dont even know btc. it's still so early

>> No.23044623

>>23044157
only way you’ll get a 20x is if you bet on howie hawkins

>> No.23044633

>>23044587
go back to /pol/ asshole

>> No.23044862

>>23044633
No. You fucking ugly, twisted little NIGGER.

>> No.23044893

>>23044497
I think it's gonna be exactly the opposite. A lot of normies lost money in the 2017 bullrun investing in the 15k to 20k range. Either they have sold their bags at loss seething extremely hard and definitely never entering crypto again after suffering almost 90% losses in a matter of months. Then again, if they did not sell at loss and are still holding their bags I am certain that they are looking to dumb them as soon as they can get their own money bag. I.e. the normie that bought the peak at 2017 will definitely dump his bags if BTC was ever to hit 20k again, which I am doubtful since it has already exit scammed (see the 2017 pump and dump).

>> No.23044980

>>23044893
While partially true, here's a few things to consider:
-gambling addicts exist
-people keep coming back to abusive relationships
-people keep electing the same corrupt politicians
What I'm trying to say is people have short memories, and constantly do things against their best interest because they're greedy/desperate/dumb. Also the normies who got burned the last bullrun were a miniscule portion of the whole population, and there's a sucker born every minute. And if you're really worried about the bagholders dumping at 15-20k, the volume is gonna be an order of magnitude higher at the least so it will just be a blip on the radar

>> No.23044997

>>23044590
Delusional. Everyone has heard of BTC.
We are early, though. They've heard of it in same way everyone had heard of the internet in IRC days.
Regardless, this run will be driven by institutional money, not so much retail.

>> No.23044998

>>23044893
>the normie that bought the peak at 2017 will definitely dump his bags if BTC was ever to hit 20k again, which I am doubtful since it has already exit scammed (see the 2017 pump and dump).
What? your a retard

>> No.23045019

>>23042561
I'm a stinky linkie but I think what you said is retarded and BTC serves plenty a good function

>> No.23045049

>>23044893
You got it all wrong anon.

The price comes first, then the emotions, not the other way around. When price starts making people feel fomo and numbers like 200k start entering people's minds as potential targets, then you'll see fomo.

I also suspect that within the next 3 years we'll see more avenues BTC can be used, and some won't want to part with it when it can be used inside games, etc.

>> No.23045216

>>23044980
The argument about suckers born every minute makes sense and is something I have maybe overlooked. You are right, the same people that lost money in the previous bullrun probably don't enter to get burned again, but there should be new bunch of normies to lose money in this hypothetical bullrun. I agree.

>>23045049
I'm not buying this FOMO theory simply because what happened in 2017-2018 is still too close and people remember what happened then well. Another problem is that during the peak FOMO of 2017 the fees increased to over 50 usd/transaction and the transaction times got ridiculously long (many hours, if not days?). BTC network has done nothing to this problem since then and it is still a problem and still something that will keep people away and which in my makes it nearly impossible for the price to explode. How are you investing in something that buying it costs 50 bucks and takes a day to complete the transaction? Is this really "the future"?

>> No.23045277

>>23045216
People will just used wrapped BTC on other networks

>> No.23045504

>>23045216
So several notes: I don't think we'll see BTC peak again until like 2024 or later, and I dont think we'll see 20k until like the end of 2021. Again that's just my model. I'm not trying to say FOMO, I'm just disagreeing that you think a bubble can't happen anymore because people like you wised up after the bear market.

People said the same about why BTC won't ever go to 3k$ etc.. They said "price memory" would prevent BTC from ever going below a certain price.

Second no one (who can actually move the price of BTC) gives a shit if you can buy coffee with it or not. None of those guys care AT ALL what jackoffs want to do with it. BTC is an asset now, with a market cap some speculate is undervalued... The strength of BTC is that it's a technology that can transfer a billion dollars in under an hour with like $2 in fees. If you say that's not worth anything, then just go back to /r/cryptocurrency and talk about how smart you are there to those guys.

>> No.23045543

>>23042126
Without a doubt we are looking at another bullrun in the future, but this bear cycle will be 5-7 years, followed by another bullrun lasting for about 2 years. Check back in on Dec 2021

>> No.23045708

>>23045543
>>23045504

Two of the biggest self-owns I've ever seen. RIP

>> No.23045733

>>23042697
Thinks you can actually evade govt. Ngmi

>> No.23045862

>>23044998
I'm very tired and nothing in his message stood out as wrong, but you misspelled one of the easiest words in the book

>> No.23046019
File: 297 KB, 1049x1070, Screenshot_20201005_114626.jpg [View same] [iqdb] [saucenao] [google]
23046019

>>23042889
Yeah I'm very aware

>> No.23046120

>>23043691
I would not be suprised if trump is balls deep into bitcoin , lot's of trump shills against bitcoin with absurd shit like maxwell using bitcoin , then you check her reddit account and only times bitcoin appear are posts attacking proof of work or literally installing a bot in a few subreddit that banned the use of the word "bitcoin", and the other posts are attacking bitcoin due to energy usage.

I would not be suprised if the anti crypto sentiment in the trump administration is a larp while they are accumulating , starting to seem like that.

>>23043904
This anon is correct historically world economies had an anchor to reality gold was a good and widely used anchor since it has a natural low inflation around 2% globally since more can't be mined that fast.

You need an anchor that has low inflation yet is inflationary , something that gold , silver and now bitcoin & monero only have.

Few times in history economies lost that anchor completely , the entire world in 1971 and the roman empire before the third century crisis are the only two times that happened.

It probably happened in china a few times too but don't know the history that well to claim that as a fact.

>> No.23046146
File: 57 KB, 350x310, 1382250956170.jpg [View same] [iqdb] [saucenao] [google]
23046146

>>23042126
You will change the colours of previous dots when it doesn't happen right?
you do it everytiem...

>> No.23046181

>>23042502
imagine calling someone doing things like that elite

>> No.23046232

>>23042755
If XMR gets trustless atomic swaps with BTC its gonna be huge

>> No.23046431

>IT WENT UP DRAMATICALLY ONCE BEFORE SO IT'LL DEFINITELY GO UP DRAMATICALLY FOR A YEAR AGAIN THIS YEAR

peak, peak delusion

>> No.23046450

>>23042466
>the 200 wma was made retroactively
wow anon

>> No.23046540

>>23042802
Unless there’s a huge exploit exposed, btc won’t lose its spot. It’s way too far ahead. Link isn’t needed for price feeds which aren’t a secure oracle mechanism anyway.

>> No.23046578

>>23043381
Based

>> No.23046713
File: 60 KB, 500x500, 1597387833223.jpg [View same] [iqdb] [saucenao] [google]
23046713

>>23042889
nice.

>> No.23046740

>>23043377
what, like an aramco token?

>> No.23046769

>>23042458
>2021
>once Trump is out of office
Well which is it anon, 2021 or 2025

>> No.23046772

you know that mt gox deadline is 15 october. You fucking retards need to wake up. They still have 152k btc left to sell, + a shitload of other coins

>> No.23046788

Bitcoin is fundamentally flawed u retards. God u brainlets are an embarrassment, kys

>> No.23046830

>>23045277
and thats why btc will die retard. The bitcoin blockchain will be a ghost town in the future. Everybody will transact btc on other chains, and that takes power away from main chain. Less revenue for miners = less security and less liquidity. Bitcoin is fundamentally flawed, and if you dont understand this yet, you´re a retard that deserves death by hanging

>> No.23046856

Btc is a useless manipulated POS that is not suited for mass adoption. It´s compromised and will always be manipulated. A few people own 25% of all the coins, and can crash the price at any time. Even tho its not likely, it still proves that btc is fundamentally flawed. Security and liquidity will decrease over time, so btc will slowly lose it´s advantages

>> No.23046876

>>23046788

>u

IQ revealed

>> No.23046925
File: 35 KB, 780x585, goingafterbitmex.jpg [View same] [iqdb] [saucenao] [google]
23046925

>>23042786
The NY AG is going after crypto cause they owe favors to some powerful people in finance

>> No.23046946

>>23043094
>Do you guys not understand that hash rate is for security and not for pushing transactions?
No, they don’t. And they also think any coin with a fixed cap could be the store of value. They think the only thing btc has over some excel spreadsheet containing balances is first mover advantage.
These are not smart people, anon.

>> No.23046983

>>23046946
their shitcoin will go to zero once the king moves.

>> No.23047035

>>23042458
>and things have stabilized

Hahaha... Have you seen the news? Your society is rotten. Lots of people in such misery that they routinely go out to riot. People are divided in 2 with each groupa hating the other intensely.

The USA is fucked and it's so funny and deserved. Your government should stop playing world police and take care of your own shit while it still can, but we all know that is not going to happen.

>> No.23047044

>>23046946
Ok let me spoonfeed you. Let's assume that like you said there is another coin with a limited supply so in theory it could just as well be adopted as a "store of value" as bitcoin. Now let's also assume that unlike bitcoin this other coin is significantly easier to transact, i.e. it does not take an enormous amount of resources (energy in the form of electricity) to make a simple transaction. Now your argument is that because it takes an enormous amount of resources to transact with bitcoin that inefficiency in the transaction procedure somehow guarantees it's value. In other words you are arguing that due to the inefficiency of the payment method it now has value? This argument is absurdly flawed. The fact that you need to inefficiently mine this "asset" does not by any stretch of imagination give BTC inherent value. It is just a waste of resources. This is also why I don't believe in the store of value meme of something that is not usable in any meaningful way. There is no value in bitcoin even if mining it would cost 2k/coin it is still inherently worthless. Like others have pointed out it is a fundamentally flawed and extremely inefficient payment system that is based solely on the fact that someone else will for some reason pay more for my BTC than what I paid for them.

>> No.23047125
File: 85 KB, 274x360, p70gob.jpg [View same] [iqdb] [saucenao] [google]
23047125

>>23047035
Yeah, this country needs a hard reset and remedial lessons in logic

>> No.23047131

>>23044044
> gold is inefficient because you need very strong walls on your vault to protect it.
> use my new alt-gold instead, it’s built to be efficient, it’s worth almost nothing so a shoebox is sufficient to protect it!

>> No.23047134

>>23042498

I don't believe you really believe this.

1. How old are you?
2. Are you trolling?

>> No.23047177

>>23045216
>Another problem is that during the peak FOMO of 2017 the fees increased to over 50 usd/transaction and the transaction times got ridiculously long
This time all the retail FOMO will be via coinbase, no expensive or slow transactions there, as you well fucking know.
Not that it matters since this run will be driven by institutions.

>> No.23047209
File: 272 KB, 1080x1440, 1530284882979.jpg [View same] [iqdb] [saucenao] [google]
23047209

>>23046925
>REED was arrested in Massachusetts this morning, and will be presented in federal court there. HAYES, DELO, and DWYER remain at large.

REED is singing like tweety bird, spilling the beans. HAYES is banging coconuts together trying to keep Seychelles authorities from extraditing, and DELO and DWYER are having sex change operations in the Dominican Republic in a bid to evade detection under a new identity.

>> No.23047224

>>23047177
Yeah...great decentralized store of value when you need to buy it centralized off chain and not use the actual BTC network to transact. If this does not spell doom for you I don't know what will.

>> No.23047268

>>23047044
Again, the hash power is spent to secure the network. Processing transactions is not a difficult or expensive task. Securing a distributed network of trustless transaction processors is a very expensive and difficult task that so far only bitcoin has an answer to. You will not understand this because you have zero experience with computer science.

>> No.23047296

>>23047224
> if there being an easy and convenient way for people to buy bitcoin that doesn’t suffer all the problems I said spelled doom for bitcoin in my previous post doesn’t spell doom to you I don’t know what to say
Cope

>> No.23047309

>>23042458
Trump will not lose. He will win enough new rust belt swing states like Michigan to hold onto power, IMO. Biden is a beta old honky and nobody will vote for him

>> No.23047341
File: 22 KB, 474x308, 1600082220893.jpg [View same] [iqdb] [saucenao] [google]
23047341

>>23047177
>Not that it matters since this run will be driven by institutions.

HAHAHAHAHHAHAHAHAHAHAHAHAHAH

yes "institutions" are going to be putting all their cash reserves into an 'asset' that randomly depreciates in value by up to 40% at a time. Institutions are not buying right now and as I understand it your narrative is that we hit 20k Q1 2021 and then the magic bullrun happens with a peak in December 2021/Jan 2022. Well guess what, institutions are DEFINITELY NOT BUYING at 20 fucking K are you this fucking stupid and brainwashed holy moses WATCH LESS YOUTUBE

>> No.23047366

>>23047296
>easy and convenient way to buy bitcoin
at the same time completely defeating the purpose of the said asset/currency. You must see these flaws in your thinking and just be trolling me at this point right?

>> No.23047448
File: 114 KB, 459x434, 1571567341644.jpg [View same] [iqdb] [saucenao] [google]
23047448

>>23042502
Why are there many theories about this and where is the proof? ALSO why would they fucking do that? Are they just high level coomers or is there more to it?

>> No.23047493

>>23047366
It defeats nothing, I can still send my bitcoin from coinbase to any wallet I want, it’s just that if you’re trading bitcoin doing it on the main chain would be moronic. You’re not a moron, are you anon?

>> No.23047513

>>23047341
>yes "institutions" are going to be putting all their cash reserves into an 'asset' that randomly depreciates in value by up to 40% at a time
You mean like gold and the stock market? No, I’m sure they would never do such a thing.
Are you paid to fud, trying to accumulate or in fact this stupid?

>> No.23047531

>>23042126
Wasn't it supposed to have mooned already because of muh halvening?

>> No.23047558

>>23047531
No, it has never been an immediate effect.

>> No.23047668

>>23046772
This.

>> No.23048516

>>23047309
Don't care voting biden

>> No.23048540
File: 221 KB, 568x479, 1505794375505.jpg [View same] [iqdb] [saucenao] [google]
23048540

>>23047531
14k EOM check em'

>> No.23048630
File: 223 KB, 823x527, 1531447123459.png [View same] [iqdb] [saucenao] [google]
23048630

>>23046019

>> No.23049011

>>23042647
Wow finally an intelligent post on this board

>> No.23049445

>>23044497
XRP will make many coijns obsolete. i cannot believe how ignorant ppl are towards XRP. its still american technology company, been on CMC top 3 for almost a decade. still ppl calling it a scam and buying some chink p&d instead of it.

>> No.23049759

>>23049445
wasn't XRP that centralized shitcoin shilled by banks?

>> No.23050073

>>23047125
yea if you mean "Great Reset" then yes, thats gonna happen and it will seriously fuck up everything even more 1984 style

>> No.23050082

>>23042373
my nigga the stock market didnt even go down when trump "got" the "killer" chink flu

>> No.23050169

>>23042561
>It can’t scale
it doesnt need too noob

>> No.23050204

>>23047209
Holy fuck, and here I am spending $500 on GPUs.

>> No.23050245
File: 102 KB, 1200x655, rainbow.png [View same] [iqdb] [saucenao] [google]
23050245

>>23042126
>he doesn't post the rainbow graph instead
What is even this thing with some black shit arbitrarily drawn on it?

>> No.23050316

>>23047209

i had a dream that i bought an antminer and never mined a single bitcoin. what does it mean?

>> No.23050326

>>23043189
lol there is no link/btc pair on coinbase
>he doesnt know why
lol!

>> No.23050339

>>23043242
>All I'm saying is that there are legitimate competitors in the oracle space, and that poses a risk towards the market share of LINK
HAHAAHAHHAHAHAHAHAHAHAHAHAHAHAHAHAHA OK SURE

>> No.23050342

>>23043055
>Bitcoin becomes $300,000
>but the average burger becomes $50 before fries or a drink

>> No.23050343

>>23042730

to its credit, the xmr wallet has a pretty slick interface now.

>> No.23050399

>btc maxi circlejerk
Yikes, we really still coping huh? You'd think people woulda moved on after, you know, the asset created to be an escape from banking became controlled by banks. heh

>> No.23050461

>>23042475
Why would America go after a German bank? Bitmex is American. Burgers really need to get it into their head they are just one of many major powers now. They aren't the worlds police anymore...

>> No.23050473

>>23047531
A bull run has historically always followed a halvening, but it doesn't happen right away. Bitcoin's price has been on the rise fairly consistently since the halvening however, all the price drops have been dumps and not BTC bleeding money like LINK has been lately

>> No.23050538

>>23050326
why tho

>> No.23050603

>>23047177

you're basically saying that transaction throughput doesn't matter.

>> No.23050926

>>23047177
>coinbase, no expensive or slow transactions there
Are we using the same Coinbase?

>this run will be driven by institutions
>muh Fidelity
Robinhood has had crypto trading for a while now, where's the price hike from all those institutional investors jumping in?

>> No.23051034

>>23047448
our emotions return to baseline inevitably, so what happens when you take the kind of personality likely to do anything to get power once they attain said power?

>> No.23051446

>>23042561
Newfags law.

>> No.23052449

Trump is staying in office so do what you will with that info.

>> No.23053425

>>23050603
That’s correct, it doesn’t.

>> No.23053482

>>23050926
>Are we using the same Coinbase?
Dunno, I’m using coinbase pro.

> how have institutions affected the price?
We learned of one company buying a lot of bitcoin during its climb from $9k to $12k

>> No.23053529 [DELETED] 

>>23042126
>>23051034
>>23051446
>>23052449
>>23053425
>>23053482
>>23053482
AIRDROP NOW t.me/toyeetornottoyeet AIRDROP NOW t.me/toyeetornottoyeet AIRDROP NOW t.me/toyeetornottoyeet AIRDROP NOW t.me/toyeetornottoyeet AIRDROP NOW t.me/toyeetornottoyeet AIRDROP NOW t.me/toyeetornottoyeet AIRDROP NOW t.me/toyeetornottoyeet AIRDROP NOW t.me/toyeetornottoyeet AIRDROP NOW t.me/toyeetornottoyeet AIRDROP NOW t.me/toyeetornottoyeet AIRDROP NOW t.me/toyeetornottoyeet AIRDROP NOW t.me/toyeetornottoyeet AIRDROP NOW t.me/toyeetornottoyeet AIRDROP NOW t.me/toyeetornottoyeet AIRDROP NOW t.me/toyeetornottoyeet AIRDROP NOW t.me/toyeetornottoyeet AIRDROP NOW t.me/toyeetornottoyeet AIRDROP NOW t.me/toyeetornottoyeet AIRDROP NOW t.me/toyeetornottoyeet AIRDROP NOW t.me/toyeetornottoyeet AIRDROP NOW t.me/toyeetornottoyeet AIRDROP NOW t.me/toyeetornottoyeet AIRDROP NOW t.me/toyeetornottoyeet AIRDROP NOW t.me/toyeetornottoyeet AIRDROP NOW t.me/toyeetornottoyeet

>> No.23053695

>>23042126
it's about the coconuts

>> No.23053753

Bitcoin to $700 usd in 2021, all the normies in this thread are going REKT

>> No.23053875

Both Trump and Biden declare victory. Massive sell off will be your crypto buying opportunity

>> No.23054580

>>23042126
yes (bitcoin SV)

>> No.23054678

>>23042530
i'm wondering how in court the USG will even convincingly make an argument that a non kyc exchange like bitmex can distribute btc..
hacked accounts? that's the simplst way
fixed/manipulate markets? you distribute to countertraders through the platform during low liquidity periods; but then you would have to manipulate the spot market which rquires KYC, go up against hidden orders and bots trading against you...

There's also the claim that bitmex is used by Russians and Iranians for money laundering... not saying I doubt it but I would be very interested in how the whole scheme is setup.

>> No.23055081

>>23053753
Yes, and you are an outpriced and angry pajeet

>> No.23055262

>>23042801
retard
>>23042647
smart man

>> No.23055377

>>23043909
More efficient than gold in every way

>> No.23055455

>>23048516
>Goy ID
>Votes for a literal pedophile
Makes sense

>> No.23055742

>>23047531
>>23050473
>>23047558
halvening is already priced in, from the second it was invented it was priced in, its literally a set date, why wouldnt it be priced in?!
it would make sense if halvening would happen randomly but we literally know everything

>> No.23056279

>>23055455
checked and kek'd

>> No.23056509

>>23050245

this rainbow chart meme pisses me off

what don't people understand about the fact that bitcoin was once new and novel and that's what made the price shoot up at the start like that. It's not an ingrained innate fucking pattern in it dictated by God that will then continue forever, it was literally not existent then it existed and that's why there was a curve at the start. IT HAS NO BEARING ON FUTURE PRICE ACTION

400 BTC ARE STILL BEING PRINTED EVERY SINGLE DAY. THERE ARE STILL 150 MILLION BTC LEFT TO BE DUMPED BY MT GOX

>> No.23056525

>>23055455
kek, theyre all pedophiles...if you dont think trump fucked 15/16 year old girls back in the day you really needs to take your meds.

>> No.23057106

>>23042889
thank you anon
2021 pinkis and stinkis will make it

>> No.23057336

>world's reserve currency
>Inflates and deflates 1000% in one year

pick one dummy

>> No.23057470

>>23056509
>150 MILLION BTC
someone should tell him

>> No.23057553

Was gonna put 10k and hodl btc, but I read about mt gox being released, should we wait until purchasing during the dumpy or u think it’s gonna moon in 2 weeks lols

>> No.23057990

>>23042488
Lmao

>> No.23058056

>>23056525
i mean what is the point of being rich AF if you ain't?