/biz/ - Business & Finance

[Anonymous No.23858155]

You might think this is obsurd but this is what normies think about crypto
https://old.reddit.com/r/Buttcoin/comments/js2drg/i_gave_up_on_crypto_and_i_dont_regret_one_bit/

They are so clueless it actually hurts.

[Anonymous No.23858220]

>>23858155
>crypto is worthless even if [your crypto is worth millions]
Stopped reading there.

[Anonymous No.23858476]

>>23858155
Reads like a larp

[Anonymous No.23858492]

>>23858155
How big are this guys silver bags tho? reads like a metals cuck

[Anonymous No.23858543]

>>23858155
God I'm so glad I never gave up, I spent literally months bleeding out from 50k down to 3k then I made almost 200k in 24hours from buying KP3R when it launched. No other market can do this in the entire world and yet every week some defeatist fag says:
>you missed out on LINK/SUSHI/YFI/CORE/*INSERTCOIN* IT'S LITERALLY TOO LATE
Then sure enough a month later something does a 100x lmao

[Anonymous No.23858548]

>>23858155
Lol, and this is why we still have time.

[Anonymous No.23858558]

>>23858155
>reddit

[Anonymous No.23858574]

>>23858155
>i do hodl a little bit of trashcoins
kek all these faggot redditors that got burned with 2017 bags still think crypto is about pet rock currencies. the bull run hasn't even begun

[Anonymous No.23858575]

>>23858155
Don’t care, RSR will make me rich.

[Anonymous No.23858588]

>>23858543
Damn never heard of that project.

[Anonymous No.23858610]

>>23858574
And then they conveniently ignore the arms race currently going on with central banks, and the coins being developed by guys who have been in finance at the CB/treasury level for their entire career

[Anonymous No.23858630]

>>23858155
who gives a fuck with this no coiner faggot thinks

[Anonymous No.23858694]

>>23858155

BTC is worthless as a currency,

https://blog.plan99.net/the-resolution-of-the-bitcoin-experiment-dabb30201f7

controlled by Blockstream and the banks,

https://www.youtube.com/watch?v=XfcvX0P1b5g

and only propped up by the ponzi-scheme scam of tether.

https://www.youtube.com/watch?v=bFVK9SxKR5c

https://www.youtube.com/watch?v=qzDjJ-SrojY

When the reset happens, BTC will be priced in gold, not gold in BTC. Russia and China have accumulated precious metals to back their currencies with, not cryptos.

[Anonymous No.23858708]

>>23858694

"IMHO BTC still has a long way to go. But to overturn the history of gold is wishful thinking. Fully backed Gold and silver substitutes and circulating coins are practical and acceptable for 7bn transacting individuals. BTC will then have no role and sink to zero priced in gold."

"If BTC is truly money gold will be priced in BTC when fiat finally fails. If not Gold will be money and BTC will evolve from a store of value into possibly the biggest bubble of all time."- Alasdair Macleod

[Anonymous No.23858804]

>>23858694
>>23858708
You are a retard

[Anonymous No.23858899]

>>23858708
btc offers every single benefit of gold and more

[Anonymous No.23858935]

>>23858155
A friend of mine said he saw this on reddit the other day

[Anonymous No.23858990]

>>23858899

BTC: Can't be used as a currency, requires privacy-destroying second-layer solutions to function, stores no intrinsic value, consumes enormous amounts of electricity actively to maintain, can be instantly lost if there is dementia/memory loss/a hardware failure/a thoughtless mistake/burglary/ten minutes of torture. Controlled by Blockstream and the banks.

Gold: Can be transferred in person with total privacy; stored in a Swiss vault for perfect safety; transferred with just as much efficiency as fiat money in the modern banking system, since all you have to do is back the current fiat currencies with gold, as China and Russia are intending to do. With allocation, can be used to back a crypto with real intrinsic value, and broken into small fragments to pay for a cup of coffee with just like BTC into satoshis. Less than one fifth is in the hands of banks, most is in the people's hands in the form of jewellery. Has enormous intrinsic value in industry and ornament; is virtually indestructible and requires no energy to maintain, simply lies and stores the value which produced it. 5000 years of history, desired all over the world.

[Anonymous No.23859034]

>>23858899

BTC: Can't be used as a currency, requires privacy-destroying second-layer solutions to function, stores no intrinsic value, consumes enormous amounts of electricity actively to maintain, can be instantly lost if there is dementia/memory loss/a hardware failure/a thoughtless mistake/burglary/ten minutes of torture. Controlled by Blockstream and the banks. Would lead to a tyrannical technocracy.

Gold: Can be transferred in person with total privacy; stored in a Swiss vault for perfect safety; used as a currency with just as much efficiency as a currency as fiat currencies, since all you have to do is back the current fiat currencies with gold, as China and Russia are intending to do. With allocation, can be used to back a useful crypto with real intrinsic value, and broken into small fragments to pay for a cup of coffee, just like BTC into satoshis. Less than one fifth is in the hands of banks, most is in the people's hands in the form of jewellery. Has enormous intrinsic value in industry and ornament; is virtually indestructible and requires no energy to maintain, simply lies and stores the value which produced it. 5000 years of history, desired all over the world. Simple and universally understood.

[Anonymous No.23859048]

>>23858155
>when you die your coins are lost unless you have tech-heavy family members
lol, though this doesn't apply to all anons i have zero siblings, very old parents (who are not rich but not poor, don't need my poorfag stack of btc and shitcoins) i have no kids, mid 30s if i die idgaf about my crypto nor will anyone

[Anonymous No.23859054]

>>23858155
>Crypto hodlers and creators are nerds.
Yes.
>Young 20 somethings
Yet the community is packed with boomers and zoomers aswell. You're just generalizing to promote controversy.
>software architects
No developer uses the term architect. That shit is only for dumb people who want to sound smart.
>Crypto is only good for trading.
The purpose of currency IS trading. You trade dollars for food, water, electricity, a car, a house, clothing, etc.

If this faggot ain't taking seriously the point he tries to make, then why should I take anything he says seriously? Also:

>Added crypto to his CV
You don't add currency to your CV unless you're the developer of said currency. That's stupid, no one adds "owner of dollars" to their CV.
>Still hodls trashcoins
Make up your mind ya queer. If you truly had lost faith in the crypto, you would've dumpt everything, especially shitcoins.

Tl;dr Reddit faggot is just promoting FUD

[Anonymous No.23859076]

>>23858588
it was all over biz, someone even posted it at 8 dollars (it went to 440)

[Anonymous No.23859197]

>>23859076
Damn I lurk daily but I must have dismissed it as another shitcoin or didn’t notice it. Oh well gotta find the next one.

[Anonymous No.23859542]

what is it with redditors and still thinking crypto is about payment with btc? it's like they're still stuck in 2015, how is it possible to still miss the point about how the value is in blockchain because of smart contract as backend tech?

[Anonymous No.23859590]

He didnt write a single wrong thing. Not selling tho

[Anonymous No.23859661]

>>23859590
>He didnt write a single wrong thing. Not selling tho

All of it is incorrect. He has no idea what blockchain is used for outside of trading. Tons of companies are investing and researching blockchain tech for real world case scenarios for businesses.

> t. is trying to get funding for a startup using blockchain tech

[Anonymous No.23859690]

>>23858155
LOL based. Clearly FUD so he can accumulate more and price out Normans

[Anonymous No.23859726]

>>23859542
They haven’t seen enough upvoted posts that tell them about the potential and future of blockchain.

[Anonymous No.23859729]

>>23858155
fucking retard

[Anonymous No.23859923]

>>23858155
I mean he has some valid points.
Apparently its nothing for him anymore, why forcing it further.
You can get sucessfull without crypto for sure.
Even tough its irresponsible to not have some kind of blue chip crypto exposure in 2020.

[Anonymous No.23859973]

>>23858155
Buttcoiners aren't normies they are spiteful incel autists. The real normies are either buying bitcoin, either fantasizing about buying bitcoin but never going it

[Anonymous No.23859998]

>>23858543
>3k to 200k in 24h
imagine the high you’d get from this bros

[Anonymous No.23860115]

>>23859034
How the fuck do you break a gold bar into little pieces to buy coffee at home?

Gold isn't practical at all. Try buying your groceries with fucking gold, see what happens.

[Anonymous No.23860159]

>>23860115

The answer to your question is in the exact sentence which provoked you to ask it.

"With allocation, can be used to back a useful crypto with real intrinsic value, and broken into small fragments to pay for a cup of coffee, just like BTC into satoshis."

As a more general principle,

"Can used as a currency with just as much efficiency as a currency as fiat currencies, since all you have to do is back the current fiat currencies with gold, as China and Russia are intending to do."

[Anonymous No.23860226]

>>23858155
Kek. Sounds just like normiefags talking about the internet in late 80's - early 90's. T.oldfag

[Anonymous No.23860695]

>>23859034
Okay there's a lot of misconceptions here, this is basically the old narrative. I don't blame you so let me get you up to speed. Most importantly, Bitcoin isn't being espoused as a currency (that's only icing on the cake. Based on all the metrics we've seen people don't exchange with it, they hodl it.

>currency
Bitcoin will be used via PayPal/other applications soon as a currency if people really want to, but again, people like hodling it. Otherwise if they really want to use the blockchain, they can - a couple minutes and a ~5 fee. This is infinitely more pragmatic than carrying around a little satchel of gold coins around your waist to use gold as a means of exchange. Bitcoin is easily divisible, this simple fact defeats gold as a currency - it's a no contest.

>privacy
99.999999% of transactions don't need to be in an alleyway. Use Monero. The "privacy" narrative is dead at this point, nobody cares. Also, if you want privacy you can buy Bitcoin at ATM's where you don't have to give your ID, this means you can probably get away with never paying taxes too, which will save you money, but these ATMs have funny exchange rates.

>Energy
The mostly cheap and sustainable hydro-electric energy it consumes is a negligible price to pay for a decentralized, borderless, sleepless, trustless, programmable store of value. Moving gold around en masse requires massive wastes of energy as well.

Burglary/Torture
Gold is much more easy to steal than bitcoin in a burglary - this is just based on the size implications (a hardware wallet/piece of paper is much easier to hide) and you can hide it in many more types of places, AND in different ways (book cyphers, etc). Also with multisig, you can create withdrawal rules, cool huh? If someone is torturing you, I would tell them where the gold was but not the Bitcoin, lol.

1/2

[Anonymous No.23860779]

>>23858155
>tl;dr
>computers are complicated, they will never replace typewriters

[Anonymous No.23860915]

>>23859661
Thats becuase they dont know what it is either, but are willing to bet 2% of their portfolios for a lucky strike

[Anonymous No.23860964]

>>23859034
2/2

>Dementia/etc
There are different ways to hodl. More exchanges are being built with higher restrictions and regulations. This is why you are seeing the exchanges being shook up now, BTC is being legitimized. This means you can hodl on an exchange (your grandma doesn't need a hardware wallet). We've come a long way from MtGox, yet I always recommend people storing mostly via hardware wallets - a child can do it. "Hardware failures", even if your Trezor is destroyed somehow, you have the seed phrase backed up with hardware wallets - which means you need the hardware wallet AND your seed phrase to be destroyed. Practically speaking this is only possible in a fire, so act accordingly.

>Controlled by Blockstream and the banks. Would lead to a tyrannical technocracy.
It's not controlled by anyone. Even simple code updates are damn near impossible to implement (which is great IMO). That's why Ethereum fans laugh at us with their constant dev work, that's okay, we don't mind. Tyrannical technocracy? I'm not sure where you heard this, but the beautiful thing is, this is the first time in human history where retail is allowed to frontrun something before institutional wealth. I pity you if you eventually buy in after all of them eventually pile in.

I'll brush over gold quickly. But as I said earlier, you're thinking the wrong way about Bitcoin. And gold will never be used again as a currency, it's absurd. Large transactions with gold are impractical, anything can be stored in a swiss vault for safety. As for moving back to the gold standard, doubt it. But doesn't stop BTC from eating up its market cap. Gold inflates around 2% by miners, every time you hear about some new gold discovery, they are literally bleeding out your gold. They are like leeches sucking the purchasing power out of your gold. Your % of all the worlds gold is constantly being diminished, over years quite rapidly. Whereas with Bitcoin you always hold the same %, forever. Unprecedented.

[Anonymous No.23861028]

>>23858543
Hi Richie

[Anonymous No.23861051]

>>23858155
buttcoin is a subreddit of keynsians who are terrified of satoshi nakamoto creation destroying their shit ponzi scheme economic system so they project all their flaws into bitcoin.

[Anonymous No.23861072]

>>23858694
>>23858708
glowing

[Anonymous No.23861153]

>>23860964
Ultimately goldbugs are the closest cousins Bitcoin bugs have. They understand and believe in all the same fundamental things. Is gold going to do a 10x anytime soon? Probably not. Is Bitcoin going to do a 10x anytime soon? Based on simple supply/demand economics it will do this - it doesn't even need institutional money. But once institutions come in, we are talking about 100x. Also, the world is digitizing, everything analog is waning. Millenials don't buy gold they buy Bitcoin, newer generations will be even more digitally obsessed. Just look at /biz/, is this a finance forum or a crypto forum?

To each their own, but Bitcoin is the future, more more information check out:
Michael Saylor
Raoul Pal
Chamath Palihapitiya
Anthony Pompliano
Cathie Wood

Cheers

[Anonymous No.23861221]

>>23858155
They’re mostly correct

[Anonymous No.23861234]

>>23860695

>Most importantly, Bitcoin isn't being espoused as a currency

We know; that's why it has lost even the slightest pretence to credibility.

> people don't exchange with it, they hodl it.

People don't exchange with BTC because they literally can't. It's unusable as a currency, which is precisely why it has no monetary value. Add to that the fact that it has no intrinsic value and you behold a thing which survives only for the purpose of gambling and speculation before the coming financial reset makes it worthless.

>Bitcoin will be used via PayPal/other applications

So much for being your own central bank. Another alleged use-case of Bitcoin gone.

> infinitely more pragmatic than carrying around a little satchel of gold coins around your waist to use gold as a means of exchange. Bitcoin

As I explained in my post, gold-backed paper currencies, using the modern banking software, would be infinitely more useful for transaction than Bitcoin. Any transaction however great or small, sent instantaneously, across borders, without any fees. We can also make gold-backed cryptos using allocation. Look into Andrew Maguire's Kinesis. You can already buy a cup of coffee with a gold-backed crypto or credit card. You can break down gold into as minute fractions as you can a Bitcoin into satoshis.

https://www.youtube.com/watch?v=BjqzyqRz_Mc&ab_channel=Goldmoney

>The "privacy" narrative is dead at this point, nobody cares.

So Bitcoin can't be used as a currency, nor does it offer privacy. There's another advantage which gold has over Bitcoin, since, if you transact with a physical coin, you can't be tracked. Everything done with BTC is kept on a ledger forever, and then the authorities get you when you cash out. Or again, as we have to use second-layer solutions to employ BTC as a currency, those will be able to track and trace everything you do, which is precisely Blockstream's plan.

[Anonymous No.23861302]

>>23858155
Who the fuck puts "crypto trader" on his resume.

[Anonymous No.23861344]

>>23861051
>Keynsian
>Bitcoin
If you really understood anything about these things, you'd understand how hopelessly ironic your post is. Read "The Bitcoin Standard". This is covered in depth.

[Anonymous No.23861413]

>>23860695

>decentralized,
>borderless

Most of BTC's miners are in China. Most people keep their coins on the exchanges. By contrast, if you keep your gold in a Swiss vault you are storing your labour in a country which wasn't invaded even during WW2, upholds the rule of law, and has never confiscated gold.

>trustless

This is of dubious value. It might be trustless, but somebody can torture you for your keys, and therefore for your life's savings within ten minutes. You can lose them to dementia, to memory loss, to hardware malfunctions. That doesn't happen to somebody who stores their gold in an overseas vault.

>store of value

BTC is not a store of value; there's no value to store. Doesn't have the industrial or ornamental uses of gold, nor any of its monetary properties, since it can't be employed as a currency.

>Gold is much more easy to steal than bitcoin in a burglary

Large quantities of gold are kept in vaults, not in houses. It's impossible to keep Bitcoin in a vault. Too easy to steal or hack your keys if you entrust them to an organization.

>>23860964

>you can hodl on an exchange

If your answer to the memory-loss problem is that "you can hodl on an exchange" then this defeats the alleged purpose of Bitcoin, which is to own something which cannot be confiscated and which is decentralized.

>It's not controlled by anyone. Even simple code updates are damn near impossible to implement (which is great IMO).

Yes it is -- BTC is already controlled. The block size has been neutered by Blockstream, which means that you get $100 fees and 3-day transaction times when even 0.01% of the world population attempts to use BTC as a currency. This means that people have to go through Blockchain's second-layer solutions; and these can track and trace everything you do.

[Anonymous No.23861477]

>crypro trader on your CV.
And I always tought reddit was superior in intelligence then /biz/.
I got a big smile on my face

[Anonymous No.23861497]

>>23861344
i said buttcoin not bitcoin

Read op post there is a subreddit called buttcoin that was created by keynsians degenerates to attack bitcoin.
They are getting salty lately.

[Anonymous No.23861506]

>>23860964

>And gold will never be used again as a currency, it's absurd.

Ha. All right. It's "absurd," in your eyes, to think that what has been money for all of civilized history, and what only stopped being money because America pulled the rug out in 1971, will go back to being money, when our present system collapses. And what is your theory as to why the world has been dumping treasuries and hoarding gold over the past ten years? Why has Russia now accumulated enough gold to issue a gold-backed ruble? Why does China probably have about 20,000 tons of of gold?

>Gold inflates around 2% by miners

Gold's rate of inflation per annum is more like 1%, but, in any event, this has been consistent throughout human history. As being so low, it never bothered anybody in the past, and it will never bother anybody in the future either.

>I pity you if you eventually buy in after all of them eventually pile in.

Trying to induce FOMO, and exhibiting aggressive triumphalism are the classic signs of a bubble, and we see them in almost every modern advocate of BTC.

The institutional wealth is almost entirely in gold. That's why it has a 10 trillion mcap, as against the 400 billion mcap of BTC. Only a few boomer hedge-fund managers are in BTC, like Tudor Jones and Druckenmiller, and I have never seen the slightest indication that they are aware of its many problems. They don't talk about Mike Hearn and Gavin Andresen, about the block-size debate, about Blockstream, about censorship on /r/Bitcoin, about the block-size debate, etc., etc. They simply make shallow statements like "it's going to be a faster horse than gold" or "it's a high beta play." The fundamentals, at any rate, are what will determine the future of BTC, not "institutional investors," and the fundamentals are that it has no purpose once the reset takes place, and we revert to gold-backed currencies. BTC will be priced in gold, and reach its natural value of zero.

[Anonymous No.23861574]

>>23860964

>And gold will never be used again as a currency, it's absurd.

Ha. All right. It's "absurd," in your eyes, to think that what has been money for all of civilized history, and what only stopped being money because America pulled the rug out in 1971, will go back to being money, when our present system collapses. And what is your theory as to why the world has been dumping treasuries and hoarding gold over the past ten years? Why has Russia now accumulated enough gold to issue a gold-backed ruble? Why does China probably have about 20,000 tons of of gold?

>Gold inflates around 2% by miners

Gold's rate of inflation per annum is more like 1%, but, in any event, this has been consistent throughout human history. As being so low, it never bothered anybody in the past, and it will never bother anybody in the future either.

>I pity you if you eventually buy in after all of them eventually pile in.

Trying to induce FOMO, and exhibiting aggressive triumphalism are the classic signs of a bubble, and we see them in almost every modern advocate of BTC.

The institutional wealth is almost entirely in gold. That's why it has a 10 trillion mcap, as against the 400 billion mcap of BTC. Only a few boomer hedge-fund managers are in BTC, like Tudor Jones and Druckenmiller, and I have never seen the slightest indication that they are aware of its many problems. They don't talk about Mike Hearn and Gavin Andresen, about the block-size debate, about Blockstream, about censorship on /r/Bitcoin, etc., etc. They simply make shallow statements like "it's going to be a faster horse than gold" or "it's a high beta play." The fundamentals, at any rate, are what will determine the future of BTC, not "institutional investors," and the fundamentals are that it has no purpose once the reset takes place, and we revert to gold-backed currencies. BTC will be priced in gold, and reach its natural value of zero.

[Anonymous No.23861585]

>reddit
I'm amused.

[Anonymous No.23861629]

>>23861234
>We know; that's why it has lost even the slightest pretence to credibility.

As Paul Tudor Jones says he's "even more bullish", JPMorgan FLIPS from "fraud" to "considerable upside", as Stanley Druckenmiller says he owns it? As Square invests? As public companies allocate? As Fidelity opens a Bitcoin fund and starts shilling it? Do you need the fucking Pope to buy some? This is all last 6 months. It's GAINING credibility, fast.

>People don't exchange with BTC because they literally can't. It's unusable as a currency, which is precisely why it has no monetary value. Add to that the fact that it has no intrinsic value and you behold a thing which survives only for the purpose of gambling and speculation before the coming financial reset makes it worthless.

Value is that which we give it. It's a subjective thing with no intrinsic meaning. Fiat is nothing more than a piece of paper. Gold is a metal. To the outside observer, it is inconceivable that we use assign value to these things, without understanding how currency works. If you value gold more than Bitcoin, then buy Gold. But watch the chart, Bitcion is eating away at the gold ETFs. As for your currency argument, look up PayPal, in a few months your argument will be dead. And this is just the BEGINNING. Try adding gold as a payment system.

https://u.today/jpmorgan-says-institutions-ditching-gold-etfs-for-bitcoin

>So much for being your own central bank. Another alleged use-case of Bitcoin gone.
It takes about 5 minutes to move Bitcoin to your personal wallet. The use case is still there. Bitcoin doesn't need PayPal, PayPal needs Bitcoin - it's not stupid. Think about what was being talked about in the PayPal boardroom when this decision was made.

>gold-backed paper currencies
Maybe we'll go back to the gold standard. You can hope. It would require a great reset/calamity. Ultimately this doesn't change the relatively tiny market cap of Bitcoin relative to gold. Vastly harder to move gold price

1/2

[Anonymous No.23861807]

>>23861629

>As Paul Tudor Jones JPMorgan Stanley Druckenmiller

See here. >>23861574 It's interesting that you quote the exact two boomer hedge-fund managers whom I mention in my post, which indicates that there's hardly an avalanche of them. As I say, they never indicate that they understand any of the controversies about BTC; their remarks about it are extremely shallow. And are you aware that Druckenmiller literally bought the top of the tech bubble, and lost $3 billion in a single day? It's not the most encouraging record of success, as far as technological investments go.

>Value issubjective

It doesn't even matter to me if you wish to define value this way. Fact is, people will never ascribe the value to BTC that you wish they would, because it doesn't have any of the intrinsic properties which would inspire them to ascribe such value. Gold does, for the reasons which I offer in my posts.

>Bitcion is eating away at gold.

This process isn't going to be a gradual one. It's going to happen instantly. There will be a COMEX default, or a foreign dumping of the dollar, and gold and silver will break free from manipulation virtually overnight. Then BTC will go almost just as instantly to zero, as the dollar-backed tether ponzi scheme collapses.

> Vastly harder to move gold price

This is why you buy mining stocks. Even the largest miner in the world, NEM, has only a $50 billion market cap, yet it has an excellent P. E. ratio and dividends. Why would somebody buy BTC at this point, an alleged inflation hedge, when they can buy a miner which is in the same category of investment and be far more sure that NEM will go to $100 billion or $200 billion than that BTC will go all the way to $800 billion or $1.6 trillion? Small-caps offer infinitely greater potential. The average silver small cap went up 150 times in the '60s bull market. This sort of reflection about better investments is what may soon entice people away from BTC, and cause the bubble to collapse.

[Anonymous No.23861811]

>>23861234

2/2

So are agreed that going back to a gold standard would be good, but it's yet to be seen, would require dystopia, would probably be a decade out at least. You're basically praying that everything goes really bad really fast. And ultimately, this doesn't change where Bitcoin is headed.

>So Bitcoin can't be used as a currency, nor does it offer privacy. There's another advantage which gold has over Bitcoin, since, if you transact with a physical coin, you can't be tracked. Everything done with BTC is kept on a ledger forever, and then the authorities get you when you cash out. Or again, as we have to use second-layer solutions to employ BTC as a currency, those will be able to track and trace everything you do, which is precisely Blockstream's plan.

PayPal and other third parties will make it usable as a currency, IF people want. Again, based on all the metrics we've seen - people don't like exchanging it, they like hodling it. So I'm not interested in this debate because it doesn't matter. Gold in itself can't be used as a medium of exchange more easily than a Bitcoin transaction, you're being obtuse if you think that paying in gold is easier than paying in Bitcion, either now or in the future. It's a waste of time arguing this, and it doesn't matter anyways. Yes it doesn't offer privacy. When was the last time you needed privacy? People don't need it. That's my point. We are going to start transacting in gold coins? Get your head out of this ecosystem for a minute and think. Another waste of time arguing this. Also, you can use Bitcoin ATM's for total anonymity. Transfer crypto. 5$ fee. That's easier than gold anyways ffs.

2/3

[Anonymous No.23861878]

>>23861234
3/3

>Or again, as we have to use second-layer solutions to employ BTC as a currency, those will be able to track and trace everything you do, which is precisely Blockstream's plan.

The beauty is that you can use Bitcoin however you want. You can use a Bitcoin ATM and transfer to your wallet for total anonymity. Use Blockstream or don't. Use PayPal or don't. Use BlockFi or don't. Use exchanges or don't, new Fintech companies are being spooled up every day that are heading to this space. Trust them or don't. Using Bitcoin is becoming easier every day. We've come a long way from paper wallets. We now have insurance and interest payouts. The writing is on the wall. The point is, in a decade, all the arguments you have come up with WILL NOT MATTER. I've said my piece, good luck.

[Anonymous No.23861891]

>>23861811

>So are agreed that going back to a gold standard would be good, but it's yet to be seen, would require dystopia, would probably be a decade out at least.

Going back to a gold standard is going to happen imminently, within months or a couple of years at best. The dollar is on the verge of collapse: real yields are negative, and can only get worse from here, because interest-rates can never go up again (as we saw in late 2018). This is inevitably causing a flight to gold as a safe haven, along with a bond market crash.

Three additional black swans to consider. COMEX deliveries are at record levels, a banking crisis is imminent, and a civil war may soon take place in America.

Returning to a gold standard wouldn't either result from, or cause, a dystopia; the rest of the world is going to gain just as much as America will lose by the coming collapse, and America will be forced to build an economy based upon saving and production again, rather than reckless deficit spending.

[Anonymous No.23862007]

>>23858155
Imagine being this retarded. Doesn't Maersk already use blockchain tech for global supply chains?

[Anonymous No.23862132]

>>23861891
>It's interesting that you quote the exact two boomer hedge-fund managers whom I mention in my post, which indicates that there's hardly an avalanche of them. As I say, they never indicate that they understand any of the controversies about BTC; their remarks about it are extremely shallow. And are you aware that Druckenmiller literally bought the top of the tech bubble, and lost $3 billion in a single day? It's not the most encouraging record of success, as far as technological investments go.

Druck just capitulated yesterday! I don't know a lot of big hedge fund guys. That being said everyone knows PTJ. And I knew who Druckenmiller was, the fact that you slam him is doing yourself a disservice. They are falling like Domino's. As Warren Buffet said about Bitcoin (while in the same interview attacking Bitcoin, "why would I invest in something I don't understand").


The dollar is strong geopolitically for the foreseeable future. See Peter Zeihan. This is because every other currency is dogshit and the US is the economic hub of the universe, no where else matters.

>Imminently
Nope. What is coming imminently are CBDC's. Behavioral economics. Jerome Powell just spoke to the IMF about Libra and stablecoins. That actually happened. This means that they won't need banks. If they want to control the interest you make depending on who you are (say you're a boomer that saves - let's give him a lower interest rate), this means that they now have a brand new toolbox. China is already rolling them out, other countries are too. There's something like a dozen CBDC white papers by various central banks. They are coming. No maybe's or conspiracy theories needed. If CBDC's don't put the spotlight on Bitcoin, then I'm Mickey Mouse.

[Anonymous No.23862150]

>>23858155
chainlink specifically is a scam

[Anonymous No.23862275]

>Putting “crypto trader” on a resume to hand to employer cause you need a job.

If I was interviewing this cuck, he first think I’d ask is, why didn’t you make it trading crypto anon?

[Anonymous No.23862348]

>>23858155
can't be worthless if it makes you a millionaire

[Anonymous No.23862660]

>>23858155
This post is probably orchestrated FUD by a group or a retard seething after aping in booba finance and such similar scams. While there are problems preventing normalfag adoption as of now, you can't deny that trading crypto is probably unironically the best way to leverage your way up from the bottom if you're not retarded or bound by limitations.

[Anonymous No.23862756]

>>23858574
probably a nanocuck - if I was holding nano I would give up on crypto too

[Anonymous No.23862860]

>>23862132
I just want to expound a little further in relation to gold. Gold has been used as a store of value because its properties make it superior to alternatives for this purpose (technically there are more finite metals - but the network effect/first mover advantage is much too strong). However at the end of the day, gold is a hunk of metal.

This is why Bitcoin is so impressive. Not only is it non-inflationary. You can build on top of it and we are only in the first chapter of that. Many still think Bitcoin is a scam. That's how early we are. Bitcoin is programmable. It can go out and do a billion things while you're sleeping. It transcends borders, unlike traditional finance it is always online, you can't send gold to your auntie in Sweden. You can't even send a wire to your auntie in Sweden unless you do it during certain hours and at a $30 fee! The Bitcoin you hold cannot be debased or inflated.

Things are much different now. EVERYTHING IS DIGITIZING. Boomers were able to accumulate wealth much easier for a myriad of reasons. All of their tools have been neutered. Annuity streams now cost 10x more. The stock market has become a de facto store of value. We live in a very fortunate pocket of time with Bitcoin. Bitcoin is better as a store of value than gold not only in every conceivable way, but in ways that we don't yet understand yet. Gold can't be programmed.

I'm not arguing that Bitcoin will surpass Golds 7T market capitalization. I'm saying it's going to blow it away.

[Anonymous No.23862956]

>>23858155
that user usually posts in india subreddits.
literal pajeet.

[Anonymous No.23863038]

>>23858220
>since many butters come here to shit their verbal diarrhea, I thought I could do the same here.
stopped reading there fampai

[Anonymous No.23863254]

>>23858155
that's a lot of cope

>>23859034
gold-backed currencies don't give me chargeback protection
also, if I receive a gold bar in real life I'm not assured of its purity, while when I receive Bitcoin I know I got real Bitcoin unless it was 51% attacked, which is very unlikely
It is easier to get a fake gold bar than it is to 51% attack the Bitcoin network

[Anonymous No.23863302]

>>23858155

PLEBBIT COPE POST
ghey

[Anonymous No.23863311]

>>23861891
>Going back to a gold standard is going to happen imminently, within months or a couple of years at best
For how long have metal cucks been saying this with nothing happening?
All I'm getting here is absolute salt over how Crypto is doing within a few years what Metal bagholders have been hoping to happen in decades while their bags dump and this new currency made them irrelevant lmao

[Anonymous No.23863387]

bitcoin is at a 300 billion dollar marketcap, and yet people still FUD it
amazing

[Anonymous No.23863482]

>>23862860
Where do you see Bitcoin at the end of it all. If the Gold market cap is going to be a joke to Bitcoin where will it actually stop?
I agree though. Gold and other metal markets are dying. The average millennial has no idea how to differentiate between real gold and fake gold and it's only gonna get worse. Trustworthy appeasers will not only get rarer but also will also face the problem that noone will trust them. Gold will have a fringe market in Jewelry and stuff, but it's time as a global and universal store of value is coming to an end.

[Anonymous No.23863520]

>>23863387
And the most amazing thing is while this market cap is impressive we are STILL EARLY.

[Anonymous No.23863817]

>>23858155
Pic related, all you need to know.

90% of current crypto market are scams and don't add any value. But there are a few that changes paradigma. Normies can't gasp (actually tried it multiple times) that there are decentralized exchanges, decentralized crypto index funds, smart contracts that actually work etc.

[Anonymous No.23863944]

>>23863038
>since
stopped reading there. i've got no time for retards who live in the past

[Anonymous No.23863979]

>>23858155
>i lost of a bunch of money on Ripple
>here is my cope

[Anonymous No.23864288]

>>23861807
>BTC doesn't have any intrinsic value
Aristotle defined money as something that was durable, portable, divisible, and had intrinsic value.
BTC is durable in that it can sit in your wallet for the next 400 years and it would still work just like it does today.
BTC is portable in that you can have ANY amount of wealth on a single slip of paper, or hardware wallet and walk anywhere on the planet with you having your entire wealth. You can't do this with gold.
Divisible up to .00000001 BTC which is a pretty divisible slot although I could see how you might want more decimals since you're a poorfag.
Intrinsic value, this is found within the math proofs of the algorithm. If you don't think cryptography has "intrinsic value" that's more of your own bias and definition

[Anonymous No.23865049]

>>23859034
>laughs in monero

[Anonymous No.23865489]

>>23862860
You're making the mistake of assuming that everyone wants to live in your socialist bug person technocracy. This is why cryptocucks will ultimately fail. They way overestimate their importance.

[Anonymous No.23865652]

>>23858476
Mining GUI part made me think it's a larp too.