/biz/ - Business & Finance

[Anonymous No.56254979]

Why are delusional Bitcoin maxis like Saylor still spreading propaganda that BTC is the best hedge against looming debt spiral?

[Anonymous No.56255005]

>>56254979
how is he wrong

[Anonymous No.56255009]

>>56254979
Bitcoin can't have decentralized mass adoption since fees and low throughput make that impossible. B-b-but muh lighting network... Sorry chuds, that is not going to cut it once billions of people start banging onto your door to enter the network. Each BTC halving also leads to a less secure network, making the system a giant house of cards. If this debt scenario unfolds, Bitcoin will go down with it and all the maxis will tie a rope when a hard reality check comes their way. If you want to save yourself go and buy a shit ton of gold.

[Anonymous No.56255023]

>>56255009
>Bitcoin can't have decentralized mass adoption
unfortunately it's not mass adoption that's the goal anymore

[Anonymous No.56255032]

>>56255009
it was going that way until wall street took away our toys. now they killed the fun.

[Anonymous No.56255035]

because they hold a shit ton of bitcoin duh

https://www.youtube.com/watch?v=GC_h_tz44uw

[Anonymous No.56255052]

>>56254979
Because saylor is the biggest baggie of them all. The only way he comes out on top is if other schmucks buy his btc.
>>56255005
Because holding onto shiny rocks/big prime numbers/any other useless commodity has never worked as an inflation hedge.

[Anonymous No.56255078]

>>56255023
>Muh digital gold.
Have fun trying to buy and transfer your digital gold when the network is clogged, fees half of your salary and the wait time of a few weeks if not a lot more. All of that while miners eventually pull the plug and the the network crumbles under its weight and shit security.
>>56255035
I already cringed looking at the OP's tweet, don't make me go through it again with the maxi video. Btw Saylor could've sold his stack at a massive profit or at least break even when he misses the top, instead he quadrupled down. He actually sincerly believes in Bitcoin while at the same time looking the other way when it comes to the looming BTC issues. Buy gold and stop listening to random billionare e celebs.

[Anonymous No.56255083]

I am fully convinced that bitcoin was an in q tel creation that was intended to be used as a way to go around rival sanctions and fund rebellions all over the world with sufficient plausible deniability, all with a single click, but somewhere along the road they realized that crypto was actually working as intended and was being used to fund far-right dissidents *domestically*, so they got stuck at this confusing state where they have no idea what to do with it now. Exactly like tor which was supposed to cultivate the revolution without anyone (other than the US government that created it) being able to unmask you, which didn't really cultivate anything although they keep pushing it in Iran even to this day.

[Anonymous No.56255661]

>>56254979
Why biggest whale/baggy of asset X believes that that particular asset cures cancer, the post?

[Anonymous No.56256094]

Seeth thread

[Anonymous No.56256100]

>>56255009
its not about fees or "speed". its about sending a message

[Anonymous No.56256687]

>>56256094
>Seeth thread
AND COPE
love to see it, its only the beginning

[Anonymous No.56256860]

>>56254979
Countries that know they are fucked are cutting off exit routes to BTC:
UK
Canada
So I'd say there is something in it, and I own zero of this shit.

[Anonymous No.56257336]

>>56255078
>Have fun trying to buy and transfer your digital gold when the network is clogged, fees half of your salary and the wait time of a few weeks if not a lot more. All of that while miners eventually pull the plug and the the network crumbles under its weight and shit security.

woh anon, don't show all at once how much you are clueless about how bitcoin works

[Anonymous No.56257572]

>>56255009
the amount of tech illiterate people in this board is really surprising

[Anonymous No.56258296]

>>56254979
20% gold
10% btc
70% cash equivalents

[Anonymous No.56258333]

>>56255052
>Because holding onto shiny rocks/big prime numbers/any other useless commodity has never worked as an inflation hedge.
What do you mean? It has always worked. Any asset that is scarce is an inflation hedge. Would you rather have held gold or USD since 1950?

[Anonymous No.56258377]

>>56254979
>Why are delusional Bitcoin maxis like Saylor still spreading propaganda that BTC is the best hedge against looming debt spiral?
Because he is trying to pump his bags. It's not complicated.

[Anonymous No.56258429]

The fed will have to print near infinite dollars to pay the interest on the us debt which is climbing daily. All commodities that have inherent value like BTC and gold will benefit from this.

[Anonymous No.56258550]

>>56257572
He is right though. What is technically wrong in his post?

[Anonymous No.56258902]

Because it is.

Gold has faced the triple threat of demonization headwind, paper manipulation (not a threat to BTC as 'physical' settlement is cheap), and ridiculously high transaction costs for physical metal, yet despite these obstacles it's still performed near perfectly as an unleveraged fiat short averaged over decades long timeframes (44x versus 42x money expansion since '71).

Economy always finds it's level.

BTC has none of those issues, it's in the process of monetization, it can't be paper manipulated, and transaction costs are negligible, BTC will therefore track much more closely as a fiat short, and as it has yet to reach full capitalization, it will act as a LEVERAGED fiat short, a leveraged short without liquidation risk. Capital flight into BTC until full capitalization is the trade, simple as.

[Anonymous No.56258958]

>>56255052
>has never worked as an inflation hedge.
Gold has 44x versus 42x monetary expansion since '71. Commodities whose production can't be meaningfully increased work great as inflation hedges