The Greatest Misallocation Of Capital In Human History

[Anonymous No.52540785]

A multi-trillion dollar marketcap at its peak, hundreds of thousands of “developers” writing software that does nothing, over a decade spent creating solutions to problems that aren’t even well defined. Enthusiasts of this technology don’t even use it themselves despite its supposed benefits, explanations of what is even happening become more convoluted with each passing year, common sense scrutiny of the technology is left unanswered.

Cryptocurrency is the greatest misallocation of capital in human history. It’s an epiphenomenon of a time period where cash was essentially infinite, markets were believed to only go up, and the world’s most powerful central bank had a single policy: make sure the economy expands.

It’s all going to zero, all of it. None of it does anything, none of it has ever done anything. It’s a mirage, you see patterns where none exist. Cycles don’t exist, you don’t actually own anything, there’s no value creation and soon you’ll find out why the common sense answer from your “normie” grandpa was right all along. It’s all going to zero.

[Anonymous No.52540811]

>greatest misallocation of capital in human history
err.... wrong. that would be government spending. since 2008, national debt has increased by 20 trillion and the economy got weaker. imagine all the science and cool shit 20 trillion would fund, and we'd actually progress through the universal techtree.

[Anonymous No.52540822]

>>52540785
Nice FUD

[Anonymous No.52540827]

>>52540785
midwit take

[Anonymous No.52540838]

That would be welfare or anything spent on niggers

[Anonymous No.52540852]

>>52540785
The misallocation was that it should have all been in BTC and all those developers should have had real jobs that they used to DCA.

[Anonymous No.52540857]

>>52540785
Yes, you're right anon-kun. Now please go to sleep and let the big boys gamble.

[Anonymous No.52540863]

>>52540822
sexy chink

[Anonymous No.52540871]

>>52540822
Checked and kekked

[Anonymous No.52540891]

>>52540785
Read my lips: YOU ARE A PUSSY

[Anonymous No.52540922]

>>52540785
stay poor phonefag

[Anonymous No.52540935]

[Anonymous No.52540963]

Marketcap in crypto is fake and gay
>create a new coin with 1 billion in circulation
>sell 1 coin for 1 dollar
>have 1 billion marketcap

[Anonymous No.52541067]

>>52540785
Dollars are backed by literally nothing.

[Anonymous No.52541220]

>>52540935
self hating smelly arab. many such cases

[OP No.52541290]

>>52540785
you should really go back to /r/politics where you belong

[Anonymous No.52541402]

>>52540785
>Cryptocurrency is the greatest misallocation of capital in human history
Are you sure it's not Jewish spending?

[Anonymous No.52541489]

>>52540785
The stupid lock in your address bar begs to differ

[Anonymous No.52541576]

The occupation of Afghanistan was much more wasteful desu

[Anonymous No.52541589]

>>52541067
According to who, you?

[Anonymous No.52541618]

stock to flow assumes the y-axis (dollars) are linear, they don't account for interest rates, really it's just pseudointellectual trash written by someone that thought they could become a millionaire doing nothing like the early adopters

[Anonymous No.52541654]

>>52541067
That is a midwit take. The dollar is not only backed by the US military, but the demand is created by the necessity to buy petroleum with it. Turns out, USD is backed by pretty much every government

[Anonymous No.52541662]

>>52541654
The 'petrodollar' is Boomer gibberish

[Anonymous No.52541846]

>>52541654
Countries are starting to sell hydrocarbons in denominations other than USD. Unfortunately it seems like the 'backing' of our currency is failing.

[Anonymous No.52541874]

>>52540785
>thousands of “developers” writing software that does nothing
Kek dont worry about it, its what we do all the time

[Anonymous No.52542003]

>>52541662
it isn't, wars have been fought over it.

>>52541846
this is what's happening, though. BRIC countries are chafing at the US stranglehold over global finance. Russia is an abject lesson.

[Anonymous No.52542006]

>>52541654
so if oil went down the us dollar would go down and if the us reduced its military would the usd become less valuable? the answer is no it would not make a single bit of difference because it all operates on the perception that it is tied to something but in reality the dollar is tied to nothing. its all bullshit. at least crypto is pointing that out

[Anonymous No.52542156]

>>52542006
>so if oil went down the us dollar would go down
Yes, depending on how badly oil dumps. If it dumps too low then the demand for USD will also drop as countries will need to purchase less USD to pay for their oil requirements.

>reduced its military would the usd [drop]
If countries see the reduction in US military might as a reduction in our ability to enforce the petrodollar then potentially, yes it could reduce the global demand for USD.

[Anonymous No.52542243]

>Quoting an arab

[Anonymous No.52542283]

>>52540785
Agreed
It should all have been sent to Israel instead

[Anonymous No.52542298]

>>52540785
>Cryptocurrency is the greatest misallocation of capital in human history. It’s an epiphenomenon of a time period where cash was essentially infinite, markets were believed to only go up, and the world’s most powerful central bank had a single policy: make sure the economy expands.


that's literally just social media and 99% of the internet in general

[Anonymous No.52542321]

>>52542006
the petrodollar isn't explicitly backed by oil like the gold standard but like the other anon said, if the value of oil drops to zero, no one will NEED to trade in USD any more. it's fiat but it has the advantage over all other fiat currencies because you must trade with USD to acquire and sell oil, and this is enforced by New York & Washington. this allows the Fed to run its print to infinity while still implicitly backing it on the value of the most important real world commodity. so far as i understand it.

[Anonymous No.52542324]

>>52541654
>The dollar is not only backed by the US military

yep the US army fought so hard to keep the FED from printing 50% more dollars than ever existed in history just cause a little coof

[Anonymous No.52542419]

>>52542324
The coof wasn't the cause for the QE and printing it was the excuse

[Anonymous No.52542459]

>>52541654
I can go to the bank and exchange my usd for a part of the us military?

[Anonymous No.52542460]

I'd say that money given to Israel and nigger gibs are way bigger misallocations.

[Anonymous No.52542480]

i have a question, and please explain it as you would to a child - how is validating blocks rewarded once the supply is capped (early next century to my understanding)? is this something i would know if i could comprehend a whitepaper?

[Anonymous No.52542500]

>>52540785
100% this - it has application for certain process, but is worth nothing itself

[Anonymous No.52542526]

>>52542480
BTC will fail before the block reward dies.

[Anonymous No.52542564]

>>52540838

[Anonymous No.52542580]

>>52542526
i mean were already pretty close to total supply in circulation so i dont really see how mining could remain profitable short of immense pumping. perhaps if faggots werent so scared of nuclear power the energy requirements wouldnt be such an issue

[Anonymous No.52542584]

>>52542480
After the supply cap is reached the idea is that miners will be incentivised solely by transaction fees

[Anonymous No.52542642]

>>52542580
The second layer gobbles up the tx fees that would help miners make a profit.

[Anonymous No.52542656]

>>52542584
Second layer has zero incentive to use the base layer.

[Anonymous No.52542657]

>>52540785
>turkey weight
doesnt go to zero just because you kill it
>turkey happiness
lmfao

[Anonymous No.52542712]

>>52540785
>Bitcoin fixes this
You were all wrong when you wanted bigger blocks
You were all wrong when you wanted "DeFi"
You were all wrong when you wanted Web3
Bitcoin is perfect as it is

[Anonymous No.52542725]

>>52542642
Layer 2 still had the process the transaction on the base layer eventually.

[Anonymous No.52542882]

>>52542656
From my understanding the purpose of a second layer in general is to both abstract non-transaction logic away from the congested base chain and to batch transactions to increase throughput.
Essentially all that hits the base chain is a single transaction containing all of the transactions processed on the other layer. If you're not committing to the base chain you've got a separate block chain, not a layer 2

[Anonymous No.52543040]

>>52542725
>>52542882
Financial incentive for layer 2 liquidity providers would be to use the base layer as little as possible and maximize layer 2 transactions which they profit from.

[Anonymous No.52543049]

How the fuck is crypto not needed you fucking faggot, it unironically banks the bankless, you can get a loan without background checks and being in the Jewish financial system for example

[Anonymous No.52543083]

>>52543040
I agree but that doesn't mean there will be no transactions to process on the base layer.

[Anonymous No.52543199]

>>52543083
What incentive is there to use layer 1 at all?

[Anonymous No.52543317]

>>52540785
starts by talking exclusively about bitcoin,
finishes by generalizing statements to all of crypto

[Anonymous No.52543335]

>>52543049
>you can get a loan without background checks
How is this not triggering red flags for (you)

[Anonymous No.52544120]

>>52543049
Which insolvent scam can I get a loan from? The “protocol” that went belly up after a whole 3 months of operating?

[Anonymous No.52545234]

"laughs in bsv*
the only coin with working services built on it, the only coin with fundamentals covered

[Anonymous No.52545352]

>>52542459
The only guy in this thread that actually knows what "backed by" means

[Anonymous No.52545387]

>>52540785
>food analogies

[Anonymous No.52547001]

>>52545352
It's a poker bluff, but its a poker bluff by a player with his gun on the table. If you can't call it, it doesn't matter what he's holding.

[Anonymous No.52548407]

>>52540785
Who the fuck has turkey for Christmas?
That's what Geese or ham or pork or other birds are for.

[Anonymous No.52549246]

>>52540785
Greatest misallocation of capital list
>Car centric infrastructure in general
>Women or markets driven by women that are literally totally useless like fashion, makeup, plastic surgery, etc
>Government spending if fake fiat counts as real capital
>Porn (fuck off coomers the entire porn industry is a cope because male and female relationships have broken down and life is boring)
>Gambling
>Hollywood goyslop
>Fast food goy slip
>90% or anything made in China
>Wars for Israel/ Israel itself

Idk I could probably keep going but that's a good list. I mean people at least pay for the electricity to generate the crypto and crypto has at least some utility. Why bitch about crypto compared to industries literally based around illusions and lies that make nothing.

[Anonymous No.52549307]

>>52540785
>bitcoin is just like turkey!
Bottom is in boys.

[Anonymous No.52549363]

>>52540785
IT SHOWS THE STUPIDITY

[Anonymous No.52549744]

>>52540785
>Cryptocurrency is the greatest misallocation of capital in human history.
Usury is, not crypto.

[Anonymous No.52549858]

>>52540785
Capitulation or anger? OP reminds me of dark times in 2018.

[Anonymous No.52549914]

>>52540785
ok taleb you sand nigger.

[Anonymous No.52549979]

>>52541654
NO YOU FUCKING MIDWIT THE DOLLAR IS BACKED BY NOTHING I CAN'T FUCKING REDEEM DOLLARS FOR THE US MILITARY CAN I

[Anonymous No.52550017]

>>52549858
I think there's a good chance we are in panic and the final capitulation is close

[Anonymous No.52550044]

>>52550017
Is it wrong that I see the line in her shorts as part of a graph?

[Anonymous No.52550062]

>>52540785
Complain about central banks, fake fiat induced bubbles.
Also complain about the solution to the problem (Bitcoin)
K enjoy your (you)

[Anonymous No.52550066]

>>52540785
based

[Anonymous No.52550104]

>>52540785
OP is correct, this is basic sense, people are literally going to freeze and starve to death while we champion the creation of more digital architecture that does nothing productive for society.

[Anonymous No.52550192]

>>52550104
If taking all the physical banks, ATMs, valuts, IT staff, security guard, programmers, bank tellers, payment terminals, credit card and money transfer fees etc and getting rid of them all for a single raspberry pi that can do the exact same thing isn't more productive then what is? Your all just scared faggots that need daddy government to guarantee your money fdic style and want daddy government to prevent number from going down. True cowards

[Anonymous No.52550233]

>>52540785
Not even 1%of tge resources, time and human lives wasted to the industrial military complex

[Anonymous No.52550407]

>>52540785
oh there are patterns all right but they are in human behaviour, not in any chart

[Anonymous No.52550502]

>>52540935
>how do you do fellow non-arab christian white people

[Anonymous No.52550568]

>>52540935
jew

[Anonymous No.52550648]

>>52540785
Based take.

Of course biz retards will keep going on about "da jews!" or how we'll all be "free" from fiat and banking in 10 years or so. As if these things are even bad or they understand anything about them.

Crypto is gambling and even if it doesn't go to zero it will never replace modern finance, at best some of its systems might get adopted by it but that's it.

[Anonymous No.52550671]

>>52550017
With this economy? I can't imagine that to be true

[Anonymous No.52550831]

>>52550671
Remember that the economy and the stock market aren't directly correlated. I remember the market inching higher in trumps term as jobs cut their staff and the market roared higher. Generally consider the market to be a forward looking indicator and the bond market still is saying things are chill.