/biz/ - Business & Finance

[Anonymous No.23801062]

Does anyone actually believe this level of desperate hopium? Not a single serious investor is going to want bitcoin over a real asset like gold.

[Anonymous No.23801073]

>real asset
it’s a rock

[Anonymous No.23801083]

Yeah dude haha what does JPMorgan know, they're nobodies haha

[Anonymous No.23801088]

>>23801062
Ok boo

[Anonymous No.23801092]

>>23801062
You know that when Pomp start posting this kind of stuff, we are in a bullrun

[Anonymous No.23801110]

>>23801062
Always do the opposite of what JPMorgan says. Who the fuck in their sane mind would want to buy a literal shitcoin, that can only perform 4 tx/s, and can be shutted down by governments withing few days? There are less than 20 relevant miners in BTC network. It can be taken down any day.

[Anonymous No.23801111]

>>23801062
It's not that gold is worse than BTC ( it is ), it's that ETFs are as close to owning gold as ur mum is to not suck the dick of every stranger she meets.

[Anonymous No.23801116]

Space rocks are going to PLUMMET precious metals. Literally trillions of tonnes of metal in space. There will only ever be 21m bitcoins

[Anonymous No.23801119]

Gold is pretty shitty, it follows inflation but doesn't add extra benefit.
If ever price is increased dramatically you will see increased mining until it goes back to following inflation.

Despite all this, the tweet is ridicolous. BTC is nowhere close to overthrowing gold.

[Anonymous No.23801121]

>>23801073
Element

[Anonymous No.23801131]

>>23801062
Boomer cope

[Anonymous No.23801153]

>>23801062
No we believe you that big blocks are the future, that Craig is Satoshi, that digital gold is a foolish notion and that crypto is all about the spending use case because we all are terrified of being blacklisted by paypal so we can’t buy coffee.

[Anonymous No.23801159]

>>23801062
>slams 16 psyche into Siberia

heh nothing personal kid

[Anonymous No.23801195]

>>23801062
copium straight from planet copernia

[Anonymous No.23801207]

(((They))) have been fixing the price of gold for decades and they will continue to do so.
(((They))) are still working on fixing the price of BTC but it's going to take some time. In the mean time prepare for the great and last bullrun. 290k will be the top.

[Anonymous No.23801230]

>>23801062
>Real asset like gold
If precious metals were an actual store of value and not just valuable because people say they are, platinum would be worth exponentially more than gold. But it's not. I wonder why it is that even though the total amount of platinum mined throughout all of human history could fit in my living room and it's shinier than gold, it's still worth less than gold?

Could it possibly be that people set the value of things and not the other way around?

[Anonymous No.23801238]

>>23801062
>gold
Kek

[Anonymous No.23801256]

>>23801207
>(((They))) are still working on fixing the price of BTC
that would only make it useful as currency. dangerous game.

[Anonymous No.23801259]

Pomp it

[Anonymous No.23801267]

>>23801230
what about tantalum? rarest metal with known rareness in the universe a noble metal more resistant than most other materials.

shouldn't we all collect tantal?

[Anonymous No.23801268]

>>23801062
this is common sense from anyone in bitcoin for more than 3 years

[Anonymous No.23801382]

>>23801267
Honestly I've been thinking about collecting ridiculously rare metals like that. Platinum was one that just came to mind first, but ya, shit like gold and diamonds aren't even rare. There's only been twice as much silver mined as gold, and you can't even really mine just silver, it's mostly mined as a by-product of other metals (this is my one major hint, fucking buy silver. Dyor for exactly why, the answers are out there, but it's impossible for it to drop below $10 and still be profitable to mine).

[Anonymous No.23801402]

>>23801382
And I know diamonds aren't a metal, but from an investment pov it's basically the same shit

[Anonymous No.23801432]

you are dumb if you think they just got into the game. probably been accumulating since 2015 and hold 100k BTC right now

[Anonymous No.23801468]

>>23801110
>Who the fuck in their sane mind would want to buy a literal shitcoin
Have you seen BTC's dominance for the last decade?
Are you from another dimension?

[Anonymous No.23801479]

>>23801382
the main reason why metals are shit money is they are not distributed well geographically.
this is why the world would never accept them as money again.

imagine a country being unable to issue it's own money but have to buy it from an other country?? the fuck?

crpyto is the answer if we ever move past fiat that is. which i doubt. fiat is just perfect for governments.

[Anonymous No.23801556]

>>23801382
lets say you want to hedge your shitcoin folio a bit with PMs and want to start with $4-5k, would you all in silver or go 50/50 and get 1oz gold?

[Anonymous No.23801599]

>>23801479
They're already putting the pieces together to integrate into crypto. Just look into what every central bank is investing in right now (digital currencies, ie cbdc's). There currently is an arms race in the financial world to accumulate as many quality projects as possible to eventually lay the framework for their (((banking))) practices and transactions. Banks don't develop their own tech, and they only adopt new tech that has proven real-world data. This is why we're even being allowed to invest in the future of banking industries blockchain platforms.

But don't get it twisted, there will be no one token or network to rule them all (ie, xrp switch flippening), it will be shitloads that are all networked together.

[Anonymous No.23801624]

>>23801556
I think there's merit to both, but I'm ridiculously bullish on silver. Look into his many times jpm has been charged with manipulating the price of it lol, and I'll give you a hint; they weren't pumping it up...

[Anonymous No.23801643]

Psh, I'm too serious to make money, kid.

[Anonymous No.23801662]

>>23801159
>exterminates humanity

[Anonymous No.23801666]

>>23801207
>(((they))) are trying to fix the price
>this is the last bull run!
>290k is the top, goy!
Nice try, Shlomo.

[Anonymous No.23801691]

The problem is that BTC is still connected to the goddamn kike internet. You can't do jack shit without a stable internet connection, greatly undermining its integrity. The network needs to be decentralized further. Think about how the phone system currently operates. You have local governing networks on multiple levels, all the way down to the modem in your home. There needs to be a way for local BTC networks to operate without being connected to the central one.

[Anonymous No.23801719]

>>23801062
ahh its going to dump then

[Anonymous No.23801857]

>>23801599
it's more likely at first central banks will issue their own separate crypto. they will not be like traditional crypto but more like digital fiat currency that is programmable and you can store non-custodially but it's still completely centralized in validation and completely flexible in supply.

i agree tho "investing" in current projects will get you nowhere. bitcoin will continue doing it's thing. few other projects like monero and whatnot will continue it's own thing. but big money will move to these new digital currencies.

this will kill the wire end settlement networks. but won't change much else. the greatest challenge is if countries can stop corporate sovereign currency coming to existence. like libra...

[Anonymous No.23801901]

>>23801624
thanks, I'll read up a bit more about both before making a decision, i guess buying silver rn would be buying low compared to gold which is near ATH

[Anonymous No.23801966]

>>23801062
just own both. problem solved

[Anonymous No.23802016]

>>23801062
BTC/ZUSD hedge.

The patricians way.

[Anonymous No.23802120]

>>23801073
>it’s a rock
it's as strong as it could be

[Anonymous No.23802143]

>>23801111

[Anonymous No.23802157]

>>23801966
>Just invest in something real and a total blatant scam
Jesus /biz/ is retarded.

[Anonymous No.23802249]

>>23801857
I knew this reply was coming, lol.

For sure some of them will be making their own internal tokens, but they won't be developing the platforms to support them. This is why companies like SIA exist (basically tech consultants for banks, that have been around long before blockchain). It's way too expensive for entities as large as central banks to develop and maintain their own products, and ends up being more economical to just outsource it. These same principals are the exact reasons why some Shopify plugins or themes cost $100+/month, or why clickfunnels can charge $90/month, and are worth it. They have proven results (x% average increase in sales), great support, and make businesses more money than they cost. This is despite the fact that these businesses can do their services on their own if they really wanted to, but it's not worth the effort for them.

I disagree that only bitcoin will be worth anything longterm. Central banks are rapidly partnering with and becoming customers of blockchain products. There will be lots of winners in the cbdc boom.

[Anonymous No.23802260]

>>23801110
You haven't been paying attention. I don't blame you I also just got up to speed. Look up Michael Saylor's interviews.

[Anonymous No.23802371]

>>23801691
LoRa Mesh networks can facilitate this, but the technology is still in its infancy and relies on the network effect to operate properly

[Anonymous No.23802428]

'serious investor' here, I prefer bitcoin, OP confirmed faggot

[Anonymous No.23802448]

>>23802249
>but they won't be developing the platforms to support them
they will just use r3 corda and you know it

[Anonymous No.23802465]

>>23802249
>Central banks are rapidly partnering with and becoming customers of blockchain products.
naah they are supporting inquisitive r&d but they won't be using shit directly

[Anonymous No.23802490]

Heavy weight macro investors already knee deep in crypto. Wait a few months for some interesting names to appear...cap this

[Anonymous No.23802505]

>>23801062

[Anonymous No.23802527]

>>23801092
we are at the top*

[Anonymous No.23802532]

>>23801238
Hello my baby, hello my honey
Hello my ragtime, summertime gal!

https://ocw.mit.edu/courses/sloan-school-of-management/15-s12-blockchain-and-money-fall-2018/video-lectures/session-1-introduction/

[Anonymous No.23802545]

>>23802448
>>23802465
Possibly (to both), only time will tell

[Anonymous No.23802640]

I know nothing about economics, but on an intuitive level gold just seems really worthless.
It doesn't really even grow in value, does it? And it's just a rock. A soft one at that, almost no usecase whatsoever.
But bitcoin and other cryptos make other people go nuts.

[Anonymous No.23802648]

>>23802505
Thiel is alright
Also see
Raoul Pal
Michael Saylor
Anthony Pompliano
Chamath Palihapitya
Jeff Booth

If these guys don't convince you to go 100% in BTC now, you are a very silly person.

There just aren't any really smart people fudding Bitcoin. Period. Even Jamie Dimon (JP) flipped. Schiff is the only one, but he's just great at rhetoric and obviously doesn't have his finger on the pulse.

[Anonymous No.23802688]

When you talk about silver, gold and bitcoin, you're really talking about zero yielding assets with no counterparty risk.

Money in a bank, treasuries, stocks, options and derivatives all have counter-party risk.

[Anonymous No.23802722]

Scratch that, the counterparty risk of holding bitcoin is your internet service provider and the power grid remaining solvent.

[Anonymous No.23802728]

>>23802640
Look at /biz/
What type of threads are popular?
That's all
Millennials don't care about gold. There will always be gold bugs, god bless them. They're probably our closest allies. But gold is not the future (the more that inflationary gold becomes popular the more the miners are incentivized to unearth it). "Ask a millennial how much gold they have, the answer is none, ask them how much crypto they have, they won't answer. Because they're embarrassed by how much they own. Millenial's only own 5% of the wealth. Bitcoin really is going to the moon and this is your chance to frontrun it.

[Anonymous No.23802770]

>>23802640
Current population increase increases the value of gold as long as gold supply remains somewhat consistent.

[Anonymous No.23802799]

>>23802648
most of those people aren't worth listening to. ironically only the two jeets, raoul and chamath, are.

[Anonymous No.23802819]

Will room temperature superconductors kill the value of gold semiconductors like CPUs and cables?

[Anonymous No.23802820]

>>23802799
Saylor is a fucking billionaire genius god person and nailed down the store of value case once and for all.

[Anonymous No.23802862]

>>23802820
*demigod.
Immortal at the least.

[Anonymous No.23802905]

>>23802722

nah you can revert to using paper wallets as scrip in a pinch.

[Anonymous No.23803177]

>>23801195
copernickle baked fresh

[Anonymous No.23803742]

>>23801083
>jpmorgan, the same bank that was just fined almost 1 billion dollars for rigging the precious metals trading market, is pushing people to invest in Buttcoin instead of PMs
hmmmmmmmmmmm.jpg

https://fusion.inquirer.com/business/jpmorgan-chase-bank-gold-silver-prices-fine-futures-spoofing--20200929.html

[Anonymous No.23803805]

[Anonymous No.23803808]

>>23803742
they spoofed it by a few cents kek

[Anonymous No.23803840]

>>23803805
and what?

[Anonymous No.23803843]

>>23802640
Read this: https://fee.org/articles/what-gave-bitcoin-its-value/

Money needs to have certain features or people won't use it as money. Gold has those features. Bitcoin arguably has those features too.

[Anonymous No.23803861]

>>23801073
DEY MINERALS

[Anonymous No.23804127]

>>23803840
Are you this bad at math? There is over 6x the volume dummy, and its less then the ATH

[Anonymous No.23804181]

>>23801382
>There's only been twice as much silver mined as gold
wtf are you rambling you utter retard

[Anonymous No.23804191]

>>23801238
Look at that souless Jew.

[Anonymous No.23804203]

>>23802249
>There will be lots of winners in the cbdc boom.
lol no, the only allowed (((winners))) will be cbdcs, everything else will end up going to 0, their true value is.

[Anonymous No.23804213]

>>23801599
BSV is the solution. BTC was over taken by Bilderberg jews/ China. You know this to be true.

[Anonymous No.23804224]

>>23803840
>>23803840
>and what?

[Anonymous No.23804297]

>>23801857
>https://coingeek.com/facebook-should-use-bitcoin-sv-heres-why/

[Anonymous No.23804345]

>>23802648
Satoshi supports BSV. Fuck you BTC brainlets.

[Anonymous No.23804407]

>BTC
Didn't he mean The Standard XRP?

[Anonymous No.23804416]

>>23801238
Dead eyes.

[Anonymous No.23804451]

Gold is literally a fucking rock, all it takes is for someone to find a huge amount to crash the price - think there's any asteroids out there made of bitcoin?

[Anonymous No.23804473]

>>23801479
This is your brain on fiat currency.

[Anonymous No.23804521]

>>23804451
>spend trillions of dollars to mine an asteroid
>bring back lots of gold
>flood the market
>gold price tanks
>all money invested = lost
Retard.

[Anonymous No.23804608]

>>23804345
If you want to use it as a currency, have at it. You don't need it to go up, as Roger Ver says about BCH, don't get in it if you want to get rich. It isn't as secure as Bitcoin, doesn't have first mover advantage (it's a fork you dork, I can create another fork of Bitcoin today and say it has first mover advantage), network effect. In that sense Bitcoin will become the future store of value as it perfectly designed for this purpose in every conceivable way. Look up Michael Saylor, you have much to learn.

[Anonymous No.23804633]

>>23804521

seems to work out fine for debeers lmao

[Anonymous No.23804704]

>>23801666
why has nobody checked this baste post

[Anonymous No.23804956]

https://www.cnbc.com/2020/11/05/1-billion-worth-of-bitcoin-linked-to-the-silk-road-seized-by-the-us.html

>completely secure!

[Anonymous No.23804986]

>>23801062
gold is for retards.

[Anonymous No.23804999]

>>23804956
The irony.
If you understand anything about Bitcoin, you'll understand the irony.

[Anonymous No.23805056]

>>23804999
Nice cryptic(crypto?)posting

[Anonymous No.23805099]

>>23801062
Why is a shiny rock more valuable than a distributed ledger with an invulnerable network of validators?

Do you actually know what bitcoin is? You should look it up, Its pretty cool.

[Anonymous No.23805147]

>>23805056
>"Individual X consented to the funds' forfeiture on Tuesday, according to the filing."

You can't hack SHA256. It can't be done, it would take all the computing power in the world more than the history of the universe to do it. So don't worry about it. That all goes out the window if someone threatens you with a $5 hammer, or if some government decides to grill you (this works with any conceivable asset).

The Bitcoin network has never been hacked, nor is it likely to for a myriad of reasons I could go into, but you need to get a basic understanding of how it works before you jump in.

[Anonymous No.23805458]

>>23801116
space travel is a hoax and asteroid mining is the fantasy of some deranged faggot.

[Anonymous No.23805627]

>>23805458
I agree it's a silly argument but technically he's correct.

And space travel isn't a hoax, especially now that space has become privatized within the last decade. See SpaceX/Blue Origin. Virgin Galactic is set to do final tests EOY and send Branson up into suborbit 2021Q1. It's a hoax until it's not.

[Anonymous No.23805678]

>>23801062
>tfw 0.07 btc hoping huge investments from large corporations and financial institutions will carry me up with them

[Anonymous No.23805685]

>>23805458
NASA just visited an asteroid to collect and return rock samples nice try I guess?

[Anonymous No.23805763]

>>23805627
nah he's not, we're going to destroy ourselves in nuclear armageddon before we get anywhere near mining asteroids.
>muh private space travel
None of which has gone beyond low earth orbit or really has any incentive to.

[Anonymous No.23805861]

>>23805763
See Elon Musk. It's all fantasy until someone goes out and does it. First principles. No incentive? I can't think of anything cooler than traveling in space. There's a clear demand. Demand meet supply via private companies.

I don't think that gold will be mined on an asteroid in our lifetimes, might be wrong, who knows. The point is, there are only 21 million Bitcoin and no matter what you do you can't make more. It's also a digital asset in a universe that is becoming increasingly digital at break neck speed. Over 10 years ago there was no fucking iPhone. 20 years ago the internet was a joke. The writing is on the wall.

[Anonymous No.23806246]

DUDE GOLD IS JUST A ROCK IT HAS NO INHERENT VALUE

WHAT DO YOU MEAN MY CRYPTO'S ARE JUST NUMBERS ON A SCREEN THAT HAVE NO INHERENT VALUE? YOUR STUCK IN THE PAST BOOMER

Imagine not being hedged perfectly between junior precious metal miners and having highly leveraged bitcoin investments

Ideologues will never make it

[Anonymous No.23806287]

>>23805099
>Why is a precious metal that can be used for many tangible purposes and has a 5000 year + history as a currency and store of value more valuable than a distributed ledger with an invulnerable network of validators?

Its truly a mystery

[Anonymous No.23806397]

>>23801062
That article is not talking about gold buyers like the ones in our /pmg/ who buy actual gold and silver with no intention of ever selling it because they think society will collapse, and having some shiny metal will help them. Also they like posing it next to anime figurines.

They're talking about people who buy gold certificates for speculation.

[Anonymous No.23806427]

>>23801382
>shit like gold and diamonds aren't even rare.

You have NO idea what you're talking about.

Gold is an ELEMENT and a precious metal that has a finite supply. There hasnt been a single major gold discovery in 3 years.

Diamonds are a rare, naturally occurring mineral made of carbon. Each individual diamond is, although chemically the same, shaped completely uniquely. However, diamonds CAN be made artificially by simulating the conditions that create them.

This is a friendly reminder to seriously do your own research because anons here are generally absolutely clueless

[Anonymous No.23806493]

>>23806427
ZERO discoveries, in the last THREE years. Three years, whew. And once again, Millenial's don't buy gold. Look at /biz/.

Being half in gold and half in bitcoin or whatever just means you don't understand Bitcoin or have cognitive dissonance, or simply just like gold (no shame in that). See Michael Saylor's interviews - he'll change your mind. Bitcoin applies to your picture except it's better in every way and has a market cap that is cupcakes relative to gold and has more utility than gold as it's programmable, sleepless, borderless, trustless.

Time will tell.

[Anonymous No.23806539]

>>23806493
As I've mentioned being an ideologue is not the pathway to riches.

To suggest that gold is better than BTC in every way is naive. To suggest that BTC is better than gold in every way is naive.

>Mellenials don't buy gold

I must admit I have remarkably little concern for what mellenials do, or any other average people for that matter. I am only interested in what the smart money will do.

[Anonymous No.23806756]

>>23806539
This isn't a matter of being blindingly dogmatic. It's just math. You can't move a 7 trillion dollar market much even with a huge influx of money. You can move a 250 billion asset that accomplishes all of the same functions that gold achieves, and better, and in ways that we have yet to see. It's programmable, digitization isn't done swallowing up the earth, it's only just begun.

I can't think of anything that gold does better - it's only better in the sense that it's already established itself. But when you have a disruptive digital technology, you don't want to be the established asset. And you don't hedge Apple by buying Blackberry, or invest in Google and Yahoo.

There are too many factors, all in the last 6 months,
CBDC's, Fidelity, Square, Michael Saylor, PayPal, JPMorgan flip, PTJones..

[Anonymous No.23806797]

>>23806539
And on the contrary, you can become very rich by being an ideologue. You could have this mindset on tech stocks, by not hedging your bet on past and established paradigms you would have lost out. By going all in, you would have 1000x'd your money. The early investors that take the risk are the most (fairly) rewarded. Gotta risk it for the biscuit.

[Anonymous No.23806804]

>>23801062
>jpmorgan
enjoy the bitcoin crash that fucker almost killed silver shares

[Anonymous No.23806811]

"Pomp" is one of the cringest human beings.

[Anonymous No.23806829]

>>23806756
>I can't think of anything that gold does better
Existing on the periodic table.

[Anonymous No.23806869]

>>23801083
>Jp morgan who was bearish and fudded btc at 20k now is bullish on btc at 16k.

[Anonymous No.23807569]

>>23801062
Bullish for Badger Finance tho. Fuck it.

[Anonymous No.23807769]

You should see Michael Saylor on BTC vs Au.
Very insightful.

I should mention that I own no BTC and that I own metals and I still believe this to be true.

[Anonymous No.23807866]

>>23803843
relevant 1/2

[Anonymous No.23807881]

>>23807866
2/2

[Anonymous No.23808745]

>>23807866

Holy shit, this graph is retarded.

Anyway, when the custodial wallets snap shut like the giant fucking traps they are, I will laugh at the BTC maxis as they realize "Mass Adoption" is never fucking happening, and Jerome utterly cucks them by forcing them to switch to FedCoin as BTC's value fucking craters.

Some of the smarter ones will have kept their funds out of the exchanges, but the value will still have crashed.

"W-well it's still a store of value! Y-you can still buy things with it! They can't shut it down!"

And then, finally it will dawn on them: the only utility for non gov crypto is as black market currency. Which crypto is best at that again? Oh wait... shit. It's not Bitcoin, is it?

[Anonymous No.23808828]

Some people are so contrarian they've convinced themselves that making it is much more complex than it really is. Like people who short Tesla and get btfo. It's not that hard. Hold one BTC for five years and you are out of the rat race.

[Anonymous No.23808854]

>>23801468

BTC has literally out performed all other assets

[Anonymous No.23809220]

>>23801062
sure bud
cope
seethe
dilate

[Anonymous No.23809395]

>JP pm price surpression Morgan
I believe it, banks lie all the time anon

[Anonymous No.23809440]

>>23806287
Can you name a few good ones?

[Anonymous No.23809452]

>>23806829
God damn you are the ultimate boomer

[Anonymous No.23809710]

>>23802640
>I know nothing about economics
>gold just seems really worthless
You will NMGI anon.
Gold has more value than your printed dollars that are backed by 'trust'.
>Don't any psychical objects like gold goy, own some line of codes.
>I'm giving you a heads up, when 5 years have passed, my multi-million dollar company will be buying Bitcoin.
>please don't raise the prices in the mean time

Most of the time you do the opposite of /biz/ says but when these capitalist bankers that support communism tell you to buy you should sell because the prices are going down. When they tell you it's a bad investment, you should go all-in because prices will rise.

[Anonymous No.23809729]

>>23801062
Gold ETF =/= Gold

[Anonymous No.23810065]

This kills the bitcoin.

[Anonymous No.23810844]

YES GOY

THE NUMBERS ON YOUR SCREEN ARE WORTH INFINITELY MORE THAN THE PATHETIC SHINY BOOMER ROCK

DONT BUY REAL TANGIBLE PRECIOUS METALS STICK TO PAPER AND DIGITAL ASSETS

t. jpm morgan(has largest silver bullion reserves in the world)