/biz/ - Business & Finance

[Anonymous No.28157431]

OK. I give up. You shitcoin zoomers win. Apparently this is it. The world is changing too fast and I have given up trying to make any sense out it. Apparently libertarian billionaires and chinese new-wealth have elected crypto as their preferred reserve of value for the 21st century.

I have roughly 100k USD on my country's equivalent of a 401k. I'm moving all of it to crypto and forgetting about it since I actually have a well paying and fulfilling job. I've been hearing about this shit since 2011. I'm fed up. I don't want to keep up with your schizophrenic hustle, but I don't want to miss out any longer.

I don't know anything about crypto. I'm not based in the U.S. so maybe things are not as straightforward. What do I do? Where can I get a bitcoin? Where can I get all these other shitcoins? Where can I trade one shitcoin for another one? Where can I sell shitcoins for actual money? What are the fees involved/ Taxes? Where do the bitcoins get stored? Where do the shitcoins get stored? How do they not get stolen? How do I not lose access to them? Seriously, there should be a sticky on this board like there's on /fit/.

Some zoomers at my job told me to buy Ampleforth, are they full of shit?

[Anonymous No.28157603]

>>28157431
yes they are full of shit ampleforth is a very old summer coin dont buy it. if you want to buy btc just use coinbase dont touch memecoins because i dont think you are ready for that yet

[Anonymous No.28158101]

>>28157603
isn't the thing about BTC that it's fucking useless for real world use and the transactions are processed so inneficiently that they're taking or will be taking weeks to go through?

[[e-mail] No.28158144]

Do a quick 2 minute read of ISO20022 coins then look into XRP for 10 minutes.

Merry Xmas, enjoy your golden ticket.

[Anonymous No.28158160]

>>28157603
this, just use a normie exchange, set it and forget it

most of the schizo shit on here is late mil/zoomer shit that you have to keep up with

>t. 27 tech fuck still perplexed by the rabbit hole shit

[Anonymous No.28158221]

>>28158101
What does one do with gold that makes it so useful? It's like that except someone can't steal it from me by knocking me out with a sack of nickels

[Anonymous No.28158225]

IOTA. $20 EOY. Bosch and other billion dollar enterprises preparing to use it for feeless, fast transactions in autonomous driving, finance, IoT, and more

[Anonymous No.28158251]

>>28157431
don't fomo in dumbass

[Anonymous No.28158265]

>>28157431
If you don't have Dogecoin, you're nothing in the new world.
Buy and hold Dogecoin, it is the way.

[Anonymous No.28158339]

>>28158221
Why would you buy either?

[Anonymous No.28158371]

>>28158101
was useful enough for tesla

[Anonymous No.28158418]

>>28158339
Because we've decided its worth something. I'm not saying its more useful than gold, im saying theyre both useless except as value stores. It's completely arbitrary but its what society has agreed upon

[Anonymous No.28158422]

You're FOMOing into the market and with that mentality you will crash and burn and lose all of your money.

Put your 100k into either Ethereum or Bitcoin. Bitcoin has gone on a massive bullrun so now isn't the time to buy if you want BTC. Ethereum is a good choice now because it's about to go on a massive bullrun, but in the longterm it has serious competition so if your risk tolerance is low just wait for the inevitable bear market and buy BTC.

[Anonymous No.28158455]

>>28157431
Shove at least half of it into bitcoin.
Put the rest in some long term projects you have faith in. ETH, LTO, and DEV are good bets. There's also more obscure ones like DEFLA or GUM that have some potential.

Or if you have paranoid schizophrenia then shove it all into XRP

[Anonymous No.28158495]

Also Bitcoin is a store of value like gold or silver. Stop thinking about it as a currency.

[Anonymous No.28158510]

>>28158418
Don't store value. Actively manage, live fast and die young

[Anonymous No.28158545]

>>28158144
This but algo
and at least 33% btc/eth

[Anonymous No.28158603]

>>28158371
yeah they made a 80% ROI on 1.5 stock bubble money instantly which is genuinely difficult as a business.

[Anonymous No.28158619]

>>28158510
That advice has probably bankrupted more people on biz than any other.
Day trading is for the extremely knowledgeable and extremely retarded.

[Anonymous No.28158663]

>>28158510
I thought you were looking for a discussion but it turns out you're a fucktard midwit

[Anonymous No.28158674]

>>28158101
fair point. But because BTC has first-mover advantage (by a LOT - it took forever for the second blockchain {LTC} to popularize) the protocol to replace it has to be innovative by a minimum of 10x (however that metric is derived) to replace it. None of the shitcoins fit the description and simply have >10x the transactions-per-second isn't 'innovation'.

At this point, the only thing that can replace BTC as the leader is some MINDcoin that can be sent between human brains AND computers telepathically through some as yet developed Proof-of-Borg algos. That's what I mean by an order of magnitude more innovative.

Shitcoins, although better in principal, are not innovative enough.

[Anonymous No.28158676]

>>28158221
>>28158371
any of these other shitcoins even close to replace BTC as the main crypto for value reserve or for real world transactions?

>>28158418
this much I've realized and I'm convinced the movement behind it is you fucking zoomers wanting to go to the moon, billionaires larping ancap into reality and chinese/russian money seeking a way out of their shitty countries

[Anonymous No.28158731]

>>28157431
PUT ALL IN DOGEEEEEEEEEEEEEEEEEEEEEEEEE

[Anonymous No.28158752]

>>28158676
>any of these other shitcoins even close to replace BTC as the main crypto for value reserve or for real world transactions?
Not really.

[Anonymous No.28158771]

>>28158101
Wrong

[Anonymous No.28158785]

>>28158101
Either dive in and fucking learn or shut the fuck up, buy your shit, fuck off and commit not to look again for two years.
I wish I did the second part, but it's a bit fucking late.

[Anonymous No.28158790]

>>28158619
>>28158663
No just a genuine all-american day trader with a coke problem.

[Anonymous No.28158835]

>>28157431
IMO, purchase bitcoin after bubble pops. But seems like tesla kinda fucked the bubble, not sure if it's real or not atm. If you want a second choice, wait for Ethereum to dip and buy in and do exactly as you said, forget about it.

[Anonymous No.28158862]

>>28158790
You should quit anon, been there, turns out everyone knows and thinks you're troubled.

[Anonymous No.28158868]

>>28157431
We live in cyberpunk world, fashion hasn’t caught up with the normies yet.

[Anonymous No.28158873]

>>28157431
>I have roughly 100k USD
>I'm moving all of it to crypto and forgetting about it
>I don't know anything about crypto

You are an absolute fucking moron

[Anonymous No.28158913]

>>28157431
Don't try and learn anything from biz or you're going to fuck yourself up with nonsense

read books, read articles, listen to high quality podcasts

[Anonymous No.28159058]

>>28158862
>implying I know people

[Anonymous No.28159084]

>>28158790
Work hard to afford your coke, need coke to work hard.

[Anonymous No.28159147]

>>28158913
Debt slavery sounds better than leaving people to their own autonomy to be perfectly honest

[Anonymous No.28159362]

>>28158676
never. everything here is just a vehicle to buy more btc stablecoins or link always got to keep the money moving

[Anonymous No.28159766]

>>28158913
I had a pretty strong econ curriculum in uni but honestly this shit is out of my depth, I can barely discern what's grounded in good economic theory and what's wishful/passive thinking and what's full on shilling whenever I try to read more deeply about crypto... the institute I got my MBA in is offering MScs and MAs in blockchain/crypto, this shit has developed into an entire new area of knowledge

I get the technology behind blockchain is basically the internet ethos finally reaching money and that it's going to revolutionize the finance industry but I can't tell what forces are at play here, worst scenario I think BTC keeps this bubble/crash pattern steadily raising its profile but maybe we're approaching a moon decade to replace real money for good

[Anonymous No.28160106]

>>28159766
>what's grounded in good economic theory and what's wishful/passive thinking and what's full on shilling

None of it is good economic theory. Revolutionary theory maybe.. Kinda only works in a One World Government/Anarcho-Communist collectivism scenario.

[Anonymous No.28160589]

>>28160106
the institutional argument for blockchain is that the decentralized ledger helps reduce costs on two fronts: 1) fees towards traditional financial network infrastructure operators; 2) security costs

adoption is a no brainer, lower costs means better value for the customer means higher market share, customer retention, profit margins, etc.

what I don't know is to what degree these players are going to crypto and to what degree they're developing their own solutions based on blockchain

[Anonymous No.28160635]

>>28159766
>what's grounded in good economic theory
Literally ampleforth, it’s the exact currency that Friedrich Hayek predicted in his book Denationalizations of Money

https://youtu.be/9-uo-KfnkhI

I literally went all in after watching this

[Anonymous No.28160850]

>>28160589
I mean blockchain is a worthy technology, but these silly meme coins are just liquidity traps that have helped us not have inflation after 08. Blockchain fiat is inevitable, didn't China already do it?