/biz/ - Business & Finance

[Anonymous No.25050445]

why does bitcoin make goldbugs seethe so much? all they have to do is get a suicide stack and forget about it.

[Anonymous No.25050888]

Dad is a massive goldbug. I already told him about btc a long time ago. He will never touch it, no matter how high the price goes. I don't think he hates BTC, he's just fidgety about exchanges and digital assets.

That's boomers for you.

[Anonymous No.25050941]

>>25050445
Because gold is tangible. You cant hold bitcoins, therefore in a boomer's eyes it doesn't actually exist. We've practically grown up on the internet, and from being conditioned through things such as video games, or even forums, digital assets feel tangible to us.

It's essentially a cultural divide

[Anonymous No.25050971]

Unironically how do i start with bitcoins? I was ask excited about physical keys but then i saw that recent hack.
Should i just do an online account with a really strong password?

[Anonymous No.25050985]

>>25050971
buy it through amazon?

[Anonymous No.25051014]

Precious metal boomers have bad eyesight so they have to physically touch their assets to make sure that they exist.

[Anonymous No.25051016]

>>25050445
Stole all that

[Anonymous No.25051039]

>>25050445
gold has held value throughout the entirety of human history. bitcoin has been around for a decade. boomers like tradition.

[Anonymous No.25051056]

>>25050445
It is quite the opposite, cryptotards won't stop sucking our dick. Stop peddling your shitcoins, we won't be buying your bags, lol.

[Anonymous No.25051086]

>>25051056
>posts schiff
>seethes about BTC every single day on twitter

[Anonymous No.25051098]

>>25050445
A btc suicide stack is now worth $493,500. Might have something to do with it

[Anonymous No.25051186]

>>25051016

Wasn't it gaddafis?

[Anonymous No.25051258]

>>25051056

Love this picture, haha.

[Anonymous No.25051282]

>>25051086

Schiff posts about BTC on Twitter because he's trying to stop gullible fools from losing literally everything. When fiat collapses, the Asian countries with the real wealth and production will demand gold, not Bitcoin, it's that simple. Bitcoin is going to zero along with the stock-market and bond-market bubbles.

[Anonymous No.25051290]

>>25050445
Bitcoin is marketed dishonestly, you claim it’s a store of value when economists agree it’s not, you use a gold coin as a symbol for a product that is only 1s and 0s, you compare yourself to gold when your useless 1s and 0s are just waste of electricity. For me it’s gold and silver that will always be real money, because it has been real money since the dawn of man, and I do not consider any so called alternatives laid forth to this date may they be tulip bulbs, beenie babies, fiat or shitcoins, to have, or even being able to establish, a track record even remotely touching that of gold. It is in my lifetime impossible to establish anything else than silver and gold as real currency, because I only live for 80-90 years, while gold and silver have lasted for thousands and thousands of years. It simply a logical conclusion to make.

[Anonymous No.25051301]

>>25051039
Yeah held value. Not raised it. I want to make money

[Anonymous No.25051344]

>>25051282
>greatest wealth transfer from west to east
>russia and china
>gold for goods and services

[Anonymous No.25051360]

>>25051301

Buy mining stocks then. That's where you really can make 150x. Dolly Varden, Impact Silver.

[Anonymous No.25051417]

>>25051290
You don't think an open, immutable, probably true and verified ledger has any value? It's not "just 1's and 0's" if they can't be counterfeited or copied.

How much gold in Chinese reserves was discovered to be just gold-plated tungsten? Lol. Don't act like it's all sunshine and roses for PM's. People having been scamming with fake gold for about as long as people have been valuing gold.

[Anonymous No.25051429]

>>25050445
they're intelligent enough to realise that without tangible backing, it's value is artificially manufactured. they're not intelligent to realise that even if it's stupid, if it's backed by enough people it'll be the eventual status quo regardless

[Anonymous No.25051487]

Because if you bought $1000 gold in 2010, you probably have about $1000 of gold. If you bought $1000 of bitcoin in 2010, you'd be a multimillionaire.

Holding gold has been a fucking garbage investment for a decade, its only just recently recovered to its ATH from 10 years ago.

Gold was a fucking AMAZING hold from 2000 to 2011 but its done fuck all since then.

[Anonymous No.25051489]

Thankfully I'm not a retard, so therefore my parents aren't completely retarded either. My boomer Dad actually did listen to me and bought some ETH when it was $140. He doesn't have nearly as much as I do in crytpo atm, but I'm happy my Dad will see some good profits in his old age to help him out.

[Anonymous No.25051706]

>>25051290
gold is no longer money
virtually no stores will accept gold as money. it's also not very portable, divisible, or even that supply limited.
it was, and maybe will be again, but claiming it's money at this moment is objectively false.

[Anonymous No.25051727]

serious question. why should goldbugs buy bitcoin over kinesis?

[Anonymous No.25052309]

>>25051290
>Bitcoin is marketed dishonestly
It’s not marketed at all.
>you claim it’s a store of value when economists agree it’s not
Who’s “you”? Why is this issue so personal to you? Who hurt you as a child?
Anyway, the exact opposite is true and you’re a liar. The rest of your rambling bullshit isn’t worth responding to.

[Anonymous No.25052426]

>>25051056
Peter is that you?

[Anonymous No.25052456]

>>25050445
Because all the money that should flow into gold is going to go into btc
Btc is the gold killer it's better in every conceivable way

[Anonymous No.25052457]

>>25051282
Peter we know that is you phone posting

[Anonymous No.25052580]

>>25051186
we came, we saw, he died!
bahahahaha

[Anonymous No.25052645]

>>25051417
I don’t believe Bitcoin offer anything that fiat does not. Bullion in reserve bank vaults are tested using standardized tests that are impossible to cheat.
>>25051706
If gold is not money why is it stored by reserve banks and treasuries around the world? If gold indeed wasn’t money why doesn’t the US just sell all its gold? There is no reason for central banks to store gold if it isn’t globally accepted as payment.
>>25052309
(I ignore this post due to the users inferior intellectual calibre).

[Anonymous No.25052703]

>>25051282
He posts about BTC on twitter because he wants to FUD it and promote the gold he's selling dumb nigger. He's been crowing about the sky falling and stocks/bonds/USD/BTC/literally everything that's not his shiny boomer rocks "going to zero" (impossible) for years and it never happens. Stop whiteknighting for an failing hedge fund manager boomer who's trying to make ends meet shilling gold to retards. I bet you thought Iraqi dinars were a sure thing too

[Anonymous No.25052964]

>>25050445
Why are visuals depicting Bitcoin as a Gold coin faggot?

You know why.

[Anonymous No.25053147]

>>25050445
Competition.

[Anonymous No.25053215]

>>25052703

Schiff is one of the most honest public figures in existence. First of all, he's the son of a man who literally died in prison for his principles as a tax protester (Irwin Schiff). Secondly, Schiff suffered in the wilderness his entire life by going against the grain. Stayed out of the Nasdaq Bubble, called the Housing Bubble, when everybody else was laughing at him for it, was vindicated. Made a fortune in gold stocks. Endorsed buying gold at $200, it eventually went to $1900 in 2011. Maintained that the Fed would never raise interest-rates again, was vindicated for that in 2018. It's a lie to say to say that he promotes gold to sell it. You obviously don't understand Austrian Economics. He believes in gold because it is the foundation of prosperity. He didn't have a gold company for a long time. He was recommending gold to his clients for years before he founded it. He wanted them to have a place where they could buy real bullion at spot price, and not get scammed by numismatics and premiums.

[Anonymous No.25053431]

>>25050971
You can download a software wallet like Electrum, ONLY from the official website. Verify it with the signed PGP/GPG signature and the developer's published public key.

Then install that on a computer that is disconnected permanently from the internet. A Raspberry Pi works well for this, or an old laptop running LInux.

Generate keys on that offline wallet. Buy bitcoin from wherever and have it sent to the keys you generated.

You can learn how to use the wallet software and all the rest by setting the wallet up in "testnet" mode first, and transferring valueless testnet tokens around for a while.

Good luck. Remember, never enter your seed phrase into any online computer, and don't show them to anyone. Write them down somewhere and keep them hidden. If you are smart enough to remember the changes you made forever, then swap them around as you write them down or something like that.

[Anonymous No.25053521]

>>25053215
>First of all, he's the son of a man who literally died in prison for his principles as a tax protester (Irwin Schiff).
Irwin Schiff died in prison because he was a scam artist who sold books convincing people of nonsense that he knew were lies. He ruined countless lives. Schiff testified at the tax fraud trial of one of the people who bought his lies and said that any idiot dumb enough to believe him deserved prison.

Peter Schiff may or may not be marginally more honest than his father, but he's an idiot regardless.

[Anonymous No.25053599]

>>25053521

>Irwin Schiff died in prison because he was a scam artist who sold books convincing people of nonsense that he knew were lies.

This is a self-evident lie. If he was a con-man, he never would have followed his own principles. Nobody who listens to Irwin Schiff give this lecture will believe that he was anything less than one of the greatest and most important Americans of this century.

https://www.youtube.com/watch?v=PldyfV8QBcA

[Anonymous No.25053787]

Bitcoin is interesting and the money a lot of people have made off of it is undeniable, but it's different from owning a physical thing.

Bitcoin will never be "the new gold" or "digital gold" because it's a fundamentally different thing. And that's fine, it doesn't have to be. Bitcoin is more of a speculative investment (and I will concede, a very, very lucrative one) than gold or any other commodity.

[Anonymous No.25053883]

>>25053787
>owning a physical thing
This is completely irrelevant. Digital gold is obviously a metaphor for store of value that brainlets understand. In the event that BTC could become so reliable it would survive the apocalypse like gold (just for the sake of the argument, not discussing how that would be possible), nobody would care it's not a physical thing. The physical bit is a proxy for "doesn't depend on anything that can change based on outside factors".

[Anonymous No.25054010]

>>25051727
Can anyone answer this?

[Anonymous No.25054095]

>>25051039
>boomers like tradition.
good joke

[Anonymous No.25055286]

>>25053883
The medium of exchange is the tool that facilitates the indirect exchange system, which we created as a solution to the inefficient barter system.

Instead of having to 'sell' the good that you dont want directly for the good you do want to 'buy' (barter), you can now 'sell' the good for another good(the medium of exchange), and then 'buy' the goods and services you want with the medium of exchange.

For this to work, the medium of exchange(money) must be a useful commodity that can retain consistent tangible value and utility, and therefore always have demand from others who are in turn looking to exchange their goods for said commodity (now the means of exchange). One of the most important benifits of this is that the medium of exchange can now act as a 'store of value', where 'purchasing power' can be stored in a commodity that can reliably be predicted to retain value over time.

Many commodities have been used as the means of exchange throughout history, but the free market has determined Gold and Silver suit our purposes for a means of exchange best.

[Anonymous No.25055307]

>>25052964
Because Goldbugs cant claim aesthetic ownership over golden things? The better question would be: why do gold coins not look like stones, given how immobile and utterly incapable of appreciating in value they are.

[Anonymous No.25055354]

OP pic is not even gold bars its melted down expended brass cartridges from ammunition

[Anonymous No.25055564]

>>25055286
>For this to work, the medium of exchange(money) must be a useful commodity that can retain consistent tangible value and utility, and therefore always have demand from others who are in turn looking to exchange their goods for said commodity (now the means of exchange).
Nope. It needs people to agree its valuable. That's it. You literally cannot refute this, value is subjective. You keep spewing this shit but you NEVER explain the "must be a useful commodity" part. Again: Value is subjective.

[Anonymous No.25055633]

>>25055354
It's Saddam's gold, mostly melted down jewelry he extorted from businessmen.

[Anonymous No.25055657]

>>25055564

>You literally cannot refute this, value is subjective

It doesn't matter; saying that "value is subjective" is playing games. Even if we concede that value is ultimately subjective, the nature of mankind is such that, post-fiat, nobody will ever be stupid enough to exchange real commodities and goods for digital thin air. China, Russia, and the other Asian countries, with whom the production (real wealth) lies, would never do that. That will be their "subjective" opinion. Adding Bitcoin to your reserves doesn't increase your national wealth, so they will demand gold. And if you don't have gold to pay them with, you will get nothing.

[Anonymous No.25055679]

>>25055564
"must be a useful commodity" means it has to have value outside of being a medium of exchange. Bitcoin doesn't because it is nothing.

[Anonymous No.25055692]

>>25050971
Id suggest Password123@
I have never been hacked using that one.

[Anonymous No.25055721]

>>25055657
The value of gold is not derived from its usefulness, it's all the meme of Gold.
>>25055657
see >>25051344 and the above.

[Anonymous No.25055827]

>>25055721

Gold is incredibly useful, in all kinds of ways. If you have gold then you have reserves, applicable to medicine, ornament, and industry, which will preserve their value for ever and ever, because gold never corrupts. We only prefer to use things like copper precisely because gold is so much scarcer and better. Having gold in a central bank makes your nation economically wealthier. Gold has preserved its value over the centuries precisely because of its intrinsic economic worth.

[Anonymous No.25055864]

>>25055827
The demand from the other uses does not in any way justify its current price, that's the Gold meme. If it wasn't so then gold wouldn't be hoarded and stored, it would be used.

[Anonymous No.25055936]

>>25055864

>If it wasn't so then gold wouldn't be hoarded and stored, it would be used.

It is stored as a reserve, that's the point. It is perfect for that purpose, because it doesn't decay. When you run out of all other less precious metals, you can always fall back on your gold.

>The demand from the other uses does not in any way justify its current price, that's the Gold meme.

Yes, it clearly does; or else gold would not, over 5,000 years, have preserved a relative purchasing power which is consistently the same.

[Anonymous No.25056150]

>>25050445
because your dinocoin coded with the ass is absolute trash and should be worthless. Only such clownworld full of nigger retards could prop up a digiscam to such insane levels. Shitcoins are just a fucking MEDIUM. The shouldn't hold any value. They are worth nothing to develop, are constantly obsoleting... It's what back them up who should make it's value.
It's like investing in paper because you want USD. The value isn't in the paper used to print fiat, but in the fact it's the US economy who back it up.
Why can't shitcoins maxis understand this simple fact ffs?

[Anonymous No.25056185]

>>25055936
The OTHER uses, i.e. not medium of exchange/store of value, contribute very little to today's price because most gold isn't used like this and if the SoV narrative broke, the market would be flooded and the other uses could not even remotely make up for the lost demand. Today's price is completely because there's a collective agreement gold is "the" backup wealth, the meme. Bitcoin could become a meme in a similar way, but no it doesn't have the history of gold and it does not behave the same way currently. Gold however, isn't in any way special. We all just agree it's valuable. We could agree something else is, and it would work exactly the same as long as it's as scarce.

Goldbugs are semi-religious believing gold has some magic property, it doesn't.

[Anonymous No.25056411]

>>25056185
>Goldbugs are semi-religious believing gold has some magic property
That's fucking rich coming from a shitcoin cultist.

>Bitcoin could become a meme in a similar way
No, it couldn't you retard. BTC IS NOT A STORE OF VALUE IN ANY WAY SHAPE OR FORM. AND NEVER WILL BE.

[Anonymous No.25056521]

>>25056411
>That's fucking rich coming from a shitcoin cultist.
The property is being a meme, which gold is currently. There is nothing religious about this. YOU think it's something else. Something that other things can't have, only gold.
>BTC IS NOT A STORE OF VALUE IN ANY WAY SHAPE OR FORM. AND NEVER WILL BE.
This is an assertion. You believe it because of the above pseudoreligiousness. In conclusion: Seethe, cope, and dilate.

[Anonymous No.25056567]

>>25056185

>The OTHER uses, i.e. not medium of exchange/store of value, contribute very little to today's price because most gold isn't used like this

On the contrary, gold is even more useful today than ever before, because of its new applications to industry and medicine. It remains undervalued when you look at the Dow:Gold ratio and House:Gold ratios. It also has the capacity to be even more useful as money now that we can put gold on the Blockchain with services like Kinesis. Kinesis does everything which Bitcoin was alleged to do.

> if the SoV narrative broke, the market would be flooded

There is no gold narrative. Nobody promotes gold, the MSM all shills Bitcoin. The Russians and Chinese have quietly accumulated gold because they know gold's value.

[Anonymous No.25056656]

>>25056567
There is always a narrative, and the value is driven by how many people agree with it. Bitcoin shills itself. The increasing desperation of goldniggers is making me diamonds.
>they know gold's value
Yeah, they know it's a well established meme unlikely to go away any time soon given how entrenched it is (thousands of years)

[Anonymous No.25056754]

>>25056656

If the gold "narrative" was going to die (again, there is no "narrative"), it would have happened from 1984-2001. There is a reason why gold went from $200 to $1900. It was because of irrevocable economic forces which compelled it to go higher. Gold has risen and beaten the Dow Jones in spite of universal hatred, and the efforts of every banker in the world to suppress it.

[Anonymous No.25056788]

>>25056754
Alright. The market will settle this. You have your bags, I have mine.

[Anonymous No.25056909]

I think they are just pissed off at the gains you can and have made. Many gold bugs, myself included, have gold and silver for shit hit the fan situations or for deals that the government doesn't need to know about.

I use gold in the middle of nowhere to buy guns. I fucking love guns and gold. Nothing will pump your adrenaline more than handing over guns for gold.

Anyway, I love them both. I think you should buy at least one ounce of gold and just play around with it. Use it to make decisions when trading. Once you are around gold, you will understand why people love it.

I also love silver. I eat it daily.

[Anonymous No.25056969]

>>25056788
I will buy gold to make cryptotards like you seethe. I will never buy your ponzi shitcoins.

[Anonymous No.25057022]

>>25056969
Enjoy your small, non-increasing wealth and never ending inflation that increases if price increases.

[Anonymous No.25057056]

>>25057022

>Enjoy your small, non-increasing wealth

You obviously didn't buy Freegold Ventures at the start of this year.

[Anonymous No.25057120]

>>25052580
> t. killary

[Anonymous No.25057146]

>>25056521
>This is an assertion.
No, this is a fact. Gold require huge amount of energy and human labor to extract from the ground and then transform. Always have been and always will. That's what IS a store of value : storing energy and human labor into an asset.

Creating a shitcoin out of thin air required 0 energy and almost 0 human labor. Thus it store 0 value.

[Anonymous No.25057210]

>>25057146
>0 energy and almost 0 human labor. Thus it store 0 value.
kek, pic related agrees with how you value things

[Anonymous No.25057260]

>>25056521
Crypto currency fails as a means of exchange as it is not a commodity with any utility in and of itself, therefore cannot be a store of value. Despite its advantages over commodities in a digital sense, it is still expensive, slow, and not easy to use.

[Anonymous No.25057281]

>>25057210
Good thing he was an absolute genius who shaped economy academics since 150 years. You maybe should read him one day.

[Anonymous No.25057299]

>>25057210
He is right, there could be infinite amount of bitcoin forks, resulting in its value being zero.

[Anonymous No.25057376]

>>25057210

What WeeZ4gSK is saying is essentially correct, if you only you understand his words in the right way. Gold stores labour, not simply because of the simple effort of extraction, but because labour is utilized to produce something of lasting economic value. The effort is preserved because it manifests itself in something of intrinsic worth. He isn't necessarily propounding the labour theory of value, simply a theory that gold stores labour.

[Anonymous No.25057390]

>>25057299
It's such a waste of time to try to educate these absolute brainlets. They brainwashed themselves so deeply with their digivoodoo bullcrap that facts don't have any impact on them anymore, just like the leftists..
Seems like we are a tiny minority on biz still gifted with a functioning brain, fren.

[Anonymous No.25057428]

>>25057260
>commodity with any utility in and of itself, therefore cannot be a store of value
Yeah, you already said this and failed to back it up. Things are worth what people are willing to pay for it.
>>25057299
Nope, resulting in the forks' values being zero. Or, such an event could shake confidence making bitcoin go to 0. Previous forks didn't and I see no reason to believe future forks will, because forks aren't bitcoin.

I'm not even the type of person having strong belief that bitcoin is inevitable. I just think the goldbugs have it wrong. Gold isn't special, it's just something people are willing to pay a lot of money for because of a shared agreement of value based on the fact that it has always had value.

[Anonymous No.25057446]

>>25057260

Andrew Maguire's Kinesis actually makes fiat cryptos irrelevant even as a medium of exchange. BTC is fundamentally worthless as a currency because of the block-size, but with Kinesis we can already bank the unbanked, send transactions 24/7, stay outside the banking system etc., except that the crypto is 100% backed by physical gold and physical silver.

https://www.youtube.com/watch?v=5Q9aYYluRA0

[Anonymous No.25057495]

>>25050971
If serious then use 2FA. Never use anything without 2FA unless it is a hardware wallet.

[Anonymous No.25057515]

>>25057428

>Gold isn't special, it's just something people are willing to pay a lot of money for because of a shared agreement of value based on the fact that it has always had value.

Unless you can show me another element which is incorruptible, perfectly malleable and ductible, beautiful, and widely useful in industry, then you are objectively wrong about this. That's the whole point of gold, you can't replace it, it _is _special.

[Anonymous No.25057561]

>>25050941
but boomers have no qualms about stonks. you can't hold a stonk.

[Anonymous No.25057566]

>>25051282
>When fiat collapses, the Asian countries with the real wealth and production will demand gold, not Bitcoin, it's that simple.

Hm... I wonder why countries where this is currently and actually happening right now don't actually do this...
https://news.bitcoin.com/venezuela-pays-imports-iran-turkey-bitcoin-evade-sanctions/

[Anonymous No.25057568]

>>25051417
>How much gold in Chinese reserves was discovered to be just gold-plated tungsten?
I hope all of it. Because then it would mean gold would have to be marked up

[Anonymous No.25057570]

>>25057428
>Gold isn't special
Gold have tons of unique properties who can't be replicated. Do you think gold is used for fun in it's industrial applications, when others metals are way cheaper? You couldn't shitpost rn if it wasn't for gold.
What do the lack of btc prevent me to do on a daily life? Strictly nothing.

[Anonymous No.25057581]

>>25057515
tbqh I'm getting bored of the discussion and have to go do some other stuff. I think we have all said what we wanted to say. I wish you good luck, completely unironically. Peace out.

[Anonymous No.25057595]

this is now a sentinel meme thread

[Anonymous No.25057652]

>>25057581
Cope. Your shitcoin will go to zero while gold will only go up forever, just like it did since the dawn of times. Indeed this discussion is pointless because your dinocoin is pointless. Even SWIFT is superior in every way lol.

[Anonymous No.25057695]

>>25050445
People don't analyze advantages and disadvantages from any of those. Gold represents the past, while Bitcoin represents innovation and the future. Of course there is a resistance in both groups, by admitting one has better or good proportions it's admitting your previous notions were not completely correct; and human nature won't allow this.
Most people live with the erroneous idea most of their life. It's worthless trying to convince one over the other. It's more a generational battle and struggle.

[Anonymous No.25057728]

>>25057581
Understandable your zoomer brain can't process complex information. Gold will win in the end, as the saying goes "Slow And Steady Wins The Race"

[Anonymous No.25057730]

>>25050888
>>25050941
These 2 posts pretty much sum it up for you

Also if byc didnt exist i would buy gold. So essentially we are taking away money from gold

[Anonymous No.25057761]

>>25057695
There is nothing innovative about bitcoin. The transactions are extremely slow and expensive.

[Anonymous No.25057847]

>>25057761
>>25057728
>>25057515
>>25056969
>>25056754
>>25057652

[Anonymous No.25057934]

>>25057761
The innovation of Bitcoin is that it has created trustless money. If you can't even admit that that is a huge step in finance then there is no point in debating you, you'll just plug your fingers into your ear and go "GOLDGOLDGOLD" like Peter Schiff

[Anonymous No.25057947]

>>25057566

If Bitcoin only has value so long as the tether-printer is pumping it, then stories like this have no meaning even if they are true.

[Anonymous No.25057984]

>>25057934

Kinesis is trustless money. >>25057446 Gold and silver on the Blockchain. Bitcoin isn't money, since it can't be used as a currency. So it's simply trustless thin air.

[Anonymous No.25058117]

>>25057984
Wrong. You have to trust someone to give you that gold in exchange for the kinesis.

[Anonymous No.25058171]

>>25057947
>Tether FUD
>even if true

Lmao the cope

[Anonymous No.25058180]

>>25055307
Nice try fag. You just can't admit a culturally ingrained (if not instinctual) attraction to Gold. So you've got use marketing to manipulate for your pyramid pump and dump scheme.

And have no doubt, Bitcoin will dump. It went down to only $4000 a year ago, but next time it's lie about being a store of value will be confirmed.

[Anonymous No.25058242]

>>25058180

[Anonymous No.25058303]

>>25052645
>Bullion in reserve bank vaults are tested using standardized tests that are impossible to cheat.
You are so full of shit and lies. Fuck you

https://www.businesstoday.in/current/world/biggest-gold-fraud-busted-in-china-83-tons-of-fake-gold-bars-used-as-loan-collateral/story/408497.html

[Anonymous No.25058317]

>>25050445
I got both, but bitcoin is far more liquid
Gonna buy some more bitcoin if the dipgods allow it and get a small stack of silver eagles because im an europoor americaboo

[Anonymous No.25058368]

>>25058303
This is absolutely not surprising at all. Someone have that anon story about telling you not to learn Chinese with the steel industry?

[Anonymous No.25058390]

>>25050888
why don't you custody it for him

[Anonymous No.25058414]

what is a Bitcoin suicide stack?

[Anonymous No.25058446]

>>25058414

[Anonymous No.25058508]

>>25058117

Now you're shifting the definition of the word trustless. You're no longer using it in a technical sense. If we're going to play fast and loose with the word, then Bitcoin isn't "trustless" either, because you can't trust that you won't get memory loss or dementia, or get tortured for your keys, or suffer burglary or a hardware corruption, or make a mistake in sending a transaction and lose everything, or lose everything to a keylogger on your computer.

[Anonymous No.25058528]

>>25050888
>>25050941
2 Intelligent posts on biz.
Wow.

[Anonymous No.25058535]

>>25057566
Some more news how it actually looks like when a country's economy is collapsing and its desperately looking for alternatives

https://english.aawsat.com/home/article/2596686/iran-new-crypto-law-requires-selling-bitcoin-directly-central-bank-fund-imports
https://istanbulhomes.com/buying-in-turkey/property-purchasing/pay-with-bitcoin
https://www.investing.com/news/cryptocurrency-news/venezuelan-army-starts-mining-bitcoin-to-make-ends-meet-2358808

[Anonymous No.25058571]

>>25058508
Trustless means you don't need to trust anybody else.

[Anonymous No.25058618]

>>25058508
I’m not playing fast and loose at all. To me trust less means you don’t need to trust a centralized entity to enforce a contract. You may be able to to trade your gold backed crypto trustlessly, but if you want to trade that in for gold you have to trust that the central entity will make good on their promise to give you the gold for the token

[Anonymous No.25058641]

>>25055657
But people ARE accepting "digital thin air" for things of "real value", as of today I can buy 12 ounces of real physical gold with 1 BTC.

None of your assumptions about what people will value as money have any meaning, the market will determine that, and the truth is bitcoin's price

[Anonymous No.25058647]

>>25058618
And you have to trust they actually own the gold and not fake gold >>25058303

[Anonymous No.25058693]

>>25058571
>>25058618

"Kinesis cryptocurrencies eliminate the need for trust, essentially creating a trust-less system, which is what Bitcoin and alternatives were supposed to be. A user does not have to trust in the value of the Kinesis tokens, as each token is verifiably backed by gold and silver. As long as these precious metals hold their value, Kinesis tokens will hold their value."

"Kinesis has verifiable stores of precious metals, and all transactions on the Kinesis blockchain will be publicly open to inspection."

"There cannot be any more coins minted without there being gold in the Kinesis system to back it. This means there is no free flowing coins on the network that dilutes the individual Kinesis coin value. There is a two tier market structure with Kinesis. The first tier is where users mint their own Kinesis coins. They use their fiat currencies to actually mint their own gold and silver backed Kinesis currencies that are then deposited directly into their Kinesis wallet. This allows users to essentially be their own central bank, and have full control over their funds with no middle man. The second tier in the Kinesis system is where these actions are added to the blockchain ledger, for full transparency and immutable records."

[Anonymous No.25058707]

>>25058414
Fuck. Massive sell signal right there.

[Anonymous No.25058741]

>>25058641

>But people ARE accepting "digital thin air" for things of "real value", as of today I can buy 12 ounces of real physical gold with 1 BTC.

Yes, just as you can now buy 8x more ounces of gold with Tesla than you could at the start of the year. But Tesla is still going to zero when the dollar dies, just as BTC is. Both are bubbles, the one pumped by Q. E., the other by tether. If you don't exit them in time, you lose everything.

>>25058647
>>25058303

"The Chain of Integrity is an important part of the bullion market's infrastructure which assures you that you own top quality gold bullion.

Each bar of gold delivered to BullionVault was refined by an accredited bullion refiner, and stamped with:-

a serial number,
its purity of at least 99.5%, and
the official bar weight, usually about 400 troy ounces.
The original verification process is called assaying.

Bars are classified as Good Delivery Bars by their local market. This means they are accepted by bullion market buyers when they are delivered against bullion sales. They retain this status while they are kept continuously in vaults within the recognised gold bullion dealing community.

A record is made of every movement of a bar between recognised vaults. This builds what is called the "chain of integrity" which is broken if the bar leaves the custody of the bullion community, for example to be placed in a private safe deposit box, from which it could conceivably be tampered with.

The chain of integrity is backed up by basic physical tests performed on receipt of bars, and also by specialist assayers who visit vaults periodically and test bars on behalf of their owners. It is also audited independently by random sampling under a double-blind arrangement performed by referees of the bullion dealing community. A full description of London's refereeing process is available from the LBMA's website."

[Anonymous No.25058780]

>>25058741
Tldr

[Anonymous No.25058799]

>>25058693
What happens if the gold is stolen or confiscated from kinesis? I still have to trust they will make good on their bargain

[Anonymous No.25058837]

>>25058799

Gold doesn't get stolen from private vaults like Brinks, ever. And somewhere like the Bank of England hasn't had a robbery in all its centuries of existence. If you hold your gold in a private Swiss vault, there is zero chance that you are going to lose it. Even the Nazis couldn't invade Switzerland.

[Anonymous No.25058892]

Ok goldbugs, sell all your stocks since you cant hold them, take all your money out of your accounts and hold it all in physical cash, and then delete the internet and only talk to people face to face. With your logic this all makes sense, I hold gold and silver but youd have to be retarded not to hold some BTC atleast

[Anonymous No.25058908]

>>25058741
Do you realize how many parties are involved in this process to verify each and every of these steps? Lmao how is that trustless

[Anonymous No.25058956]

>>25058837
>>25058908
Exactly. It might be a valuable system for liquidating gold easily, but it is in no way trust less

[Anonymous No.25059044]

>>25058741
Not reading but imagine what goldbugs would be saying if at least 5% of the bitcoin held by the Chinese was fake

[Anonymous No.25059052]

>>25058892

Look into Kinesis. Digital gold is far more efficient than Bitcoin. Bitcoin is literally worthless as a currency. When the dollar gets dumped, nations will also revert to backing their currencies with gold, so the modern banking system and use of cash will continue just as efficiently as ever, only the cash will be convertible into gold.

[Anonymous No.25059097]

>>25058837
Gold bug here. The biggest gold heist in the history of mankind was the twin towers on 9/11.

[Anonymous No.25059127]

>>25059052
Uh-huh you keep saying this, yet we can observe in real time what will actually happen to collapsing nations >>25058535

[Anonymous No.25059148]

>>25059097
I thought it was executive order 6102

[Anonymous No.25059180]

>>25050888
I bought 4oz of GOLD after comfy with my BTC stack.

Regret it so much. Gold is impossible to liquidate.

[Anonymous No.25059273]

>>25059127

>yet we can observe in real time what will actually happen to collapsing nations

Venezuelan people use dollars, not Bitcoin. There's not a single Venzuelan who is flocking to Bitcoin. Why would they. They would have to pay a year's wages to make a single transaction. When the dollar dies they won't go to Bitcoin either, then it will be the de facto world reserve currency, gold. Because in a post-fiat world, Bitcoin has no value, and no nation will accept it.

[Anonymous No.25059388]

>>25059180
Yeah, it is really hard to enter one of the thousands of bullion/numismatic dealers and exchange your gold for fiat.

[Anonymous No.25059421]

>>25059273
The Venezuelan government literally built a government issued central miner for Bitcoin because Venezuelans reject the government created Petro and only transact in Bitcoin and yet you claim no Venezuelan uses Bitcoin? Why are you lying about something that can be disproven so easily? Is this maximum cope?

https://news.bitcoin.com/p2p-bitcoin-trading-venezuela-colombia-account-for-over-23-of-total-localbitcoins-volume/
https://weetracker.com/2020/12/22/bitcoin-crypto-nigeria-africa/
Also >>25057566

Are you also saying Iran and Turkey are totally not accepting Bitcoin? In Turkey they literally sell their real estate for Bitcoin, Iran takes Bitcoin from their miners by force.

Meanwhile show me any numbers about their gold trade. Go ahead I'm waiting

[Anonymous No.25059428]

>>25059273
Venezuelans are litteraly unironically actually using runescape gold so ofcourse theyre into crypto

[Anonymous No.25059429]

>>25059180

On BullionVault, I literally press two buttons and I sell my gold or silver with the click of a mouse for only a 0.50% fee (same as Coinbase). Then I can get the money in my bank account the exact same day. Also takes me seconds to transfer money in to buy gold.

[Anonymous No.25059460]

>>25059273
>Venezuelan people use dollars, not Bitcoin. There's not a single Venzuelan who is flocking to Bitcoin

Kek okay you’re trolling now

[Anonymous No.25059465]

>>25059273
Plus Nations ALREADY are accepting Bitcoin for international trade >>25057566

[Anonymous No.25059475]

>>25059421

>Venezuelans reject the government created Petro and only transact in Bitcoin

This is simply a falsehood, I mean objectively false. As is widely reported everywhere, Venezuelans are using U. S. dollars on Zelle, and even if they wanted to use Bitcoin they couldn't, because it would require a year's wages to pay for a single cup of coffee.

https://www.bloomberg.com/amp/news/features/2020-11-11/zelle-has-turned-dollar-starved-venezuela-into-a-cashless-test-lab

[Anonymous No.25059574]

>>2505044
How long will the internet last? Do you think this current global system can continue as it is?

Once governments start erecting firewalls, bitcoin is going to die with international commerce, and we return to something that physically exists that lacks counterparty risk. That happens to be Gold.

Enjoy your Tulips while the good times last.

[Anonymous No.25059711]

>>25059475
Dude I literally posted sources. On how much fucking denial are you?
The blockchain is available to everyone, you can track Venezuelas volume in Bitcoin yourself

https://www.usefultulips.org/combined_VES_Page.html

Just because they are also using cashapps that use USD that doesn't mean they're not using Bitcoin lmao. The only thing Venezuelans aren't using is Gold.

[Anonymous No.25059718]

>>25053787
>but it's different from owning a physical thing
it's a lot better
owning bitcoin is knowing a secret
good luck taking that off of me at an airport

[Anonymous No.25059799]

>>25059711
Also what about Turkey selling their real estate for Bitcoin? About Iran buying Bitcoin from miners for international trade? Any comments on that?

[Anonymous No.25059805]

>>25059711
>The only thing Venezuelans aren't using is Gold.
kekkity kek

[Anonymous No.25059853]

>>25059711

Your article simply repeats the usual stock-in-trade lies, like this one: "Cryptobuyer announced on November 28 that all Pizza Hut restaurants in the nation now accept cryptocurrencies." That's not crypto adoption, because cryptobuyer immediately converts the BTC into fiat. As my article shows, in day to day life, Venezuelans are using dollars. It's literally impossible to use BTC as a currency.

[Anonymous No.25059981]

>>25059180
1,064 °C should do it

[Anonymous No.25060028]

>>25050941
My dad didn't understand bitcoin because its not tangible but then I explained how no one uses cash anymore unless they're buying drugs and he then got it. Everyone just swipes a card now. Everything is basically digital anyways...btc is just the next step.

[Anonymous No.25060034]

>>25059853
>Your article simply repeats the usual stock-in-trade lies, like this one: "Cryptobuyer announced on November 28 that all Pizza Hut restaurants in the nation now accept cryptocurrencies." That's not crypto adoption, because cryptobuyer immediately converts the BTC into fiat.

Surely if you claim that a source is fake and you have the truth you have a source to back up your claim?

[Anonymous No.25060069]

>>25059799
Venezuelans already sold their gold

https://www.google.com/amp/s/amp.miamiherald.com/news/nation-world/world/americas/venezuela/article222199935.html

Turkey sold their homes for Gold

https://www.google.com/amp/s/greekcitytimes.com/2020/08/16/turks-think-of-selling-their-houses-to-buy-gold-as-economy-declines/%3famp

And Iran is Iran. Of course they'll do anything to bypass USD.

It sounds more like to me, certain forces are taking countries gold, while giving them E-tokens in return. Almost sounds like the same scam Bankers have been doing for decades.

[Anonymous No.25060103]

>>25051487
Yes but bc bitcoin was created in 2009 out of thin air, the chances of that happening for 2020 and 2030 are 0.

[Anonymous No.25060158]

[Anonymous No.25060280]

>>25051487
>Gold was a fucking AMAZING hold from 2000 to 2011 but its done fuck all since then.

Sure anything is an amazing hold if it recovers from a 30 year bear market
>>25060069
>turkey is thinking about selling houses for Gold
>thinking about


Lmao, meanwhile this is actually real and happening right now
https://istanbulhomes.com/buying-in-turkey/property-purchasing/pay-with-bitcoin

>And Iran is Iran. Of course they'll do anything to bypass USD.
>This one doesn't count!

Sure. And if everyone else is forced to bypass the USD what are they going to use?

[Anonymous No.25060313]

>>25060158
Lmao even his own son is dabbing on him wtf
Is he actually richer than his father now lmao?