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/biz/ - Business & Finance

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56499838 No.56499838 [Reply] [Original]

What stage of the Bitcoin journey are you on, Anon?

>> No.56499842

Second one

>> No.56499850


>> No.56499851

Explain how Bitcoin at this point isn’t just a souvenir token. It definitely is the grandfather of the smart contract economy which exists today but it has no place in it. It is the epitome of token not needed and therefore not used.

>> No.56499865

There is only one use case for crypto and that's SoV
scam contract economy is a joke

>> No.56499870

Eth will flip btc eventually

>> No.56499872

who is satoshi?

>> No.56499883

ask me how I know you are a new fag

>> No.56499893
File: 217 KB, 500x701, avaxpilled.jpg [View same] [iqdb] [saucenao] [google]


>> No.56499900

I went with BTC first. Made a few grand. Decided im actually a highly intelligent person capable of day trading swing master and traded LINK. made a few grand but then lost it all because my trading strategy was adapted to BTC and not link. Im thinking of going back to BTC now.

>> No.56499901
File: 1.55 MB, 955x2142, evolution-of-money-bitcoin-silver-barter-shitcoins-v5g.png [View same] [iqdb] [saucenao] [google]

on last one

>> No.56499905

>bb...bbb...bbbut what about utility....
the eternal wagie speaks

>> No.56499919

One God
Pantheon of gods
Trinity of gods
One God

>> No.56499940

There are literally billions of dollars being invested by the worlds biggest financial firms and companies for the “scam contract” economy but you, a retard on an anonymous racist incel forum, know better. Meanwhile the only use case for BTC is as a financial instrument so blackrock can sell it to clients and make a cut on every sale. Very cool! Really saving the planet!

>> No.56499959

Nope, I was here in 2017 when eth was its closest to flipping. BTC will take off from institutional investing first, but ETH is just better money in the end. The best money always wins eventually. Same reason BTC is flipping fiat, even though there are ups and downs.

>> No.56499962

>midwit plebbit talking point
utility will always have value, but that doesn't mean price will go up forever, because the value provided will not go up forever. price of utility token will eventually become a function of cost +....
SoV on the otherhand scale simply with demand....and all things being equal, demand is infinite.
you may not like this fact, it may make you mad because you had 13 years but you were too stupid to see it, but its true.

>> No.56500020

What exactly does Bitcoin do that any other crypto can not? Nothing, plus it does it all in a shittier way.

“Store of value” is a newfag meme that didn’t even happen until it started getting outpaced by alts left and right. It’s a fucking cope, in the most literal sense.

What value has Bitcoin stored over the last 3 years with the dollar being worth 17% less and Bitcoin down 50%?

>> No.56500031

>What exactly does Bitcoin do that any other crypto can not?


>> No.56500045

>What exactly does Bitcoin do that any other crypto can not
Make you seethe

>> No.56500053

Bitcoin is the first crypto. That's literally it.

PoW is strictly worse than PoS in every way except for one thing that only applies to bitcoin, and that is to be able to tell what is the canonical bitcoin is without trusting anyone, its the one with the longest chain by cumulative difficulty.

>> No.56500056

>better money
a premined asset valued purely on the technical utility of it's underlying network will never be better money than something politically and individually neutral valued on it's unique unrepeatable genesis.

at this point there's half a dozen things that eat into ethereum's dominance and that number grows each cycle. meanwhile bitcoin remains a market of one.

time ran out for any major moves for ethereum. 2017 like you said was the last all time high it ever made. the earliest chance it's going to get to even test 0.1 let alone 0.15 will be around 2025. eight years and then a magical recovery? unlikely when it hit those highs in less than two.

2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025
. . |__________|__________________________________________?

ethereum just did what alts do, peak their first cycle, never peak again.
don't overthink it.

>> No.56500062
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>> No.56500071

SoV are binary options. they either succeed or they don't - the bigger a SoV gets, then the bigger it gets. Gold won that war in previous centuries - it took 95% of market and relegated every other competitor to fight amongst themselves in the remaining 5% area.
BTC is either going to $4M per coin or to $0. No other option exist for it.
ETH on the otherhand is a programming stack. It can exist forever at $300, $500, $1000 - it is just another middle-tier tech company that may exist for a long while but is never ever considered an asset class. In 20 years you can be using your "dApp" and ETH can happily be sitting at $1920

The entire problem with crypto right now is its 2 separate markets that stupid diversity-hire millenials think is just 1 market. BTC and ETH ARE NOT COMPETITORS. Its like saying does NodeJS compete with Municipial Bonds.
Its masters-of-the-universe finance types on one side and faggy php programmers on the other.

Please, go back to /g/. This board is not meant to discuss "programming stacks"

>> No.56500095

means nothing anymore since the coins have been long distributed.

Are you trying to say because eth's network has a lot more utility, it can't also be money? Of course it can be both. Eth has better properties for money. Less inflation, faster transactions (built out l2s that actually work and are much simpler to use), doesn't pollute (I don't care, others do though).

The dapps on eth don't "eat into" eth's dominance, or at least they only eat into it because they are expanding the market along with ethereum.

>> No.56500104

Have you ever even looked at the gold chart?

Do you even know what a store of value is supposed to do?

Gold gets massively outpaced by inflation. Being in cash has always trumped gold by insane multiples.

Bitcoin had a cute run, and it probably will still get some pump, but it’s largely irrelevant compared to a lot of crypto options today, the same as buying gold has been a 0 IQ move vs just investing in the S&P or even sitting in a .1% apr savings account.

>> No.56500153

you can claim it means whatever you want but the reality is if the distribution was recent enough to matter during the transition to proof of stake then its recent enough for people to discard it as "money".

it's an investment at best, like the rest of the alts in this market, and like the rest of the alts its valuation comes from the utility of the network itself. scaling issues? fewer participants, lower liquidity, less demand, less fees, worse staking apy. it's already under 4%.

others can care about pollution all they like but the reality is proof of work has no peers. proof of stake has already failed the first test with lido despite a lot of deflection from those who loudly and incorrectly claim that mining pools are equivalent to an entity that holds unilateral control of the asset used to secure the network.

i don't care for the mid-term because i hold a lot of eth as it stands today, but i'm only comfortable doing that because i hold no illusions about the long-term failure of these altcoins. these things just aren't built to last.

>> No.56500165

monero is what people think bitcoin is and makes (((keynesians))) seethe

>> No.56500170

monero is what late adopters* think bitcoin is, but there's a reason why when they find that out very few actually end up using it.

>> No.56500187

>t. living in (((hyperinflation)))
>savings stolen by keynesian economics and corrupt zog bankers
>(((sanctioned))) country
they cant stop monero

>> No.56500203

Gold hit $900 in 1980 though, which adjusted for the money supply is like $5k today. If bitcoin only hit the same size as gold in 1980 it would be close to $4mil/bitcoin. And bitcoin has a serious chance of replacing large parts of the bond market as well. That said I think eth will be even bigger.

No one cares about a supposed "premine" that happened 10 years ago. They care about the current aspects and going forward.

>like the rest of the alts its valuation comes from the utility of the network itself
The opposite. 99% of alts are just random projects or scams, because crypto is permissionless and has no barrier to entry (this is a good thing), its 100% speculation/investing, not utility. Eth is one of the rare ones that actually have both utility and store of value.

>proof of stake has already failed the first test with lido
More liquid staking protocols are being built and lido share is declining, lido share of staking is also less than the top bitcoin mining pools, so bitcoin is actually more centralized in that regard.

>> No.56500207


Stage 4 ( i think...) with a bit of Stage 2 as leftover remnants.

>> No.56500230

breaking the law with monero is no different than breaking the law with bitcoin. monero isn't going to make your life any better if they criminalize the use of it in particular or cryptocurrencies in general.

the premine in isolation isn't the problem, it's what it represents as ethereum being a decentralized company than a piece of peer to peer open source software. it can't compete in the market bitcoin created which is why it needed all the (now regrettable) base layer programmability to compete in the market.

feel free to try reading the whole post too or you'll just sound stupid.
>loudly and incorrectly claim that mining pools are equivalent to an entity that holds unilateral control of the asset used to secure the network

>> No.56500245

>to compete in the market.
to compete in the new market it created*

>> No.56500253

>loudly and incorrectly claim that mining pools are equivalent to an entity that holds unilateral control of the asset used to secure the network
Yeah because someone having a large share of the mining pool is WORSE lol. In PoS, minority validators can fork to remove a malicious validators stake. With PoW a malicious miner can take over the network and there is nothing anyone can do to stop them.

>> No.56500254

You want to take a look at $tao and $kas

>> No.56500256

youre a fucking moron if you think that
BrEaKiNg ThE lAw
banks STOLE our deposits in USD and gave us shitty local toilet paper money
"sanctions"? anyone who is against pissrael
just , go educate yourself kek
crypto is already criminalized in Lebanon, but no one cares, fuck (((banks))), fiat and centralization
someone sent me some XMR when the beirut port exploded on /biz, try doing that with bitcoin

>> No.56500284

Example: The US gov buys 51% of all eth, the rest of the network can fork and remove the gov's entire stake. The gov can't retake control without buying 51% of the supply again.

But if the US gov built out mining capacity to have 51% hash power, they would permanently control bitcoin. They could also switch to take control of any fork.

Centralization is far worse in pow.

>> No.56500296

It has more capital invested in its production than anything else on the market

>> No.56500301

Sorry for your loss. AVAX will never return to its ATH

>> No.56500311

how can it be worse? mining pools are simply "block producers". you can fork to slash lido, but these are social human-lead failings of the protocol itself. incentives in a proof of work system fair much better at keeping it away from the situation ethereum has quickly found itself in.

arguing a costly, contentious, and likely permanently damaging for the price social slashing event against an actor is not a win, it's a massive own goal.

proof of stake only works in these idealistic scenarios. in real life you won't know who to slash and thus you won't know by how much to slash. the community will be split, and the network itself will be in a state of disrepair for a long time before any action ends up happening.

>BrEaKiNg ThE lAw
then why do you think people who have that position care about using monero over bitcoin? monero is designed to thrive in a world where its usage isn't criminalized.

>> No.56500326

and to clarify in your embarrassingly bad toy example, in only one of those scenarios does the cost to attack the network remain more than the attack could ever be worth. under proof of stake lido and similar entities simply gets handed eth to stake with and all they get in return is a promise they'll get it back later.

proof of work is a system which continually secures itself against attackers
proof of stake is a system which continually rewards them

>> No.56500331

*All of them simultaneously

>> No.56500348

>waiting for some gimp with high school level qualifications maximum to block my bank account because the most they receive is 5 minutes training on account vetting when it comes to crypto and they're not happy about someone else being able to actually generate a return on an investment

>t. Know someone who actually works doing this, and yes.... it's that bad

>> No.56500356

Even shitcoins like XRP and LINK (token not needed) will flip ETH. There's 10,000 options that are better than ETH, and do things cheaper than that centralized kikecoin.

>> No.56500454

Shouldn't you get back to e-begging soon?

>> No.56500484

This is so true it aint funny. Sadly it does pay to be smart in a dumb market. Avax should be top 5 already and then top 3.

>> No.56500573

4th. I made a bunch in ETH during 2017 and put it all purely into BTC. No more gambling.

>> No.56500680

I have some monero left for sentimental reasons, but other than that it's 4.

>> No.56500703
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I thought Filecoin was pretty cool.

>> No.56500711

Sold my bags to Idiots and will rebuy when BTC hits 2k again.

>> No.56500808

People don't understand bitcoin. It's not an efficient payment network, its the modern Mona Lisa divided into 21 million pieces, you are buying a fraction of a piece of art. Bitcoin will always be #1 based purely on sentimental value. It is the creator of the entire space and always will be, it does not need to be efficient. It introduced the concept to the world and the idea has proven to be sound. It is eternal.

>> No.56501063

rent-free you fucking schizo

>> No.56501085

Remember when SBF fished for venture capital on /biz/?

>> No.56502424

Avax has had an average yearly inflation rate of 35% since it's inception anon...i'm sorry for your loss but move the fuck on or you will not make it.

>> No.56502492

Is that why you're namefagging and shilling shitcoin #5164?

>> No.56502510

bottom one

this one is better at explaining the rational path

>> No.56502522

1.bitcoin is efficient
2.it's money
3.the rest you say is true

>> No.56502538

miners aren't the only ones to determine the canonical bitcoin, longest chain is just some kind of sub concept for miners

>> No.56502563
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>> No.56502566

in your context php is like bitcoin, and nodejs is for faggots
if you can't get this, you shall really stop trying to pretend you know anything about this subject
and yes eth is absolutely a competitor - for money - it sucks and it will lose relevance as the only use case for crypto is money

>> No.56502574
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Value proposition of crypto is MONEY, BTC is the first trustless money to ever exist, and as such, the last money the world will ever need, a final solution to the money question. The systemic economic value of trustless money is nearly beyond comprehension. Future history will denote the past into pre & post BTC eras. Bitcoin is an inevitability.

>> No.56502579

>What exactly does Bitcoin do that any other crypto can not?
the most secure & promising money, there's no serious competition

>> No.56502676
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Better money? Holy fuck. Leave this board.

>> No.56502691

move part of gains to what goods? like a home? how much would you split between btc/metals?

>> No.56502722


>> No.56502790

Do you bother timing the market when acquiring gold and silver?

>> No.56502923
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>What exactly does Bitcoin do that any other crypto can not?
Be the first.

>> No.56502935

nodejs *is* for faggots.

>> No.56503081
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It's more about what it did and how it did it that coattail riding projects refuse to do. Everyone alive on the internet had at least heard about BTC before 2013 and could get it for free or very cheap rather easily, with full knowledge of its value proposition. It was released to and for the people, not to make VCs and founders rich. It wasn't hyped at first for making money, but for making a new monetary system by necessity. Name another crypto like this.

>> No.56503156

At the stage where I knew Bitcoin was a government plot and glowniggers continue to shill it.

>> No.56503175


>> No.56503193
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>Gold gets massively outpaced by inflation
False. Gold is flat factored for money stock just like the s&p500

>> No.56503234

Such a shame. AVAX chuds remind me of the retard ARK and REQ holders in 2017-2020.

>> No.56503282

Little bit. I only buy shiney rocks during the post halving bull

>> No.56504377

One big reason to be an early adopter of SUPRA, 2017 vibes could be coming back in 2024, anons

>> No.56504423
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>> No.56504462

will 2k's worth bought when it was below 20k work?

>> No.56504597

bitch i got that bsv

>> No.56504711

Third if you add chainlink

>> No.56504738


>> No.56504754

>What exactly does Bitcoin do that any other crypto can not
It has network effect, anyone can copy Instagram and even make a better version of Instagram, but good luck taking its place.

>> No.56504797

I'm in the 3rd if you add RAIL & ZEC, I care more about my privacy

>> No.56504799

Huh? Monero is the only crypto that it makes sense to use. Bitcoin? Might as well use visa, at least with visa your transactions are somewhat private

>> No.56504818

>move part of gains to what goods? like a home?
what ever you want man
>how much would you split between btc/metals?
depends on risk, would be ideal to have few years of survival in gold, while still heaing even more in btc. for the bigger players

>> No.56504827

doesn't know about coinjoin
and many other existing now and upcoming solutions

>> No.56504833


Bitcoin is the PoW coin!
all else sucks cocks, or run on botnets

>> No.56504860

Privacy tricks for bitcoin are inconvenient, which is why all networks that cares about privacy use monero over bitcoin.
A money needs to be universal, it needs to be usable even by idiots and lazy people, not just by autists.

>> No.56505005

Monero's based for going ghost, but it's a bit one-dimensional. That's why privacy protocols like Railgun & Aztec are the chad choices

>> No.56505029

Chainlink is lit, my long term bag

>> No.56505044

sBTC shimmer evm.

>> No.56505053

>doesn't know about coinjoin
Coinjoin uses mixers, I prefer Sparrow and Railway wallet to it

>> No.56505065

Buying gold is still a good idea

>> No.56505104

>at least with visa your transactions are somewhat private
Visa's linked to fiat, and fiat means they're watching your transactions. Using crypto privacy solutions is the way to go,

>> No.56505306

Then why does the largest cryptocurrency privacy economy dependent on p2p cryptocurrency use Monero more than Bitcoin?

>> No.56505403

You're a retard slavemind that can't think beyond your chains, crypto isn't about privacy, it's about fixing money to allow proper economic calculation to take place

>> No.56506370

delusional moron
ive been namefagging since the start of the crisis and I never shill, I educate on XMR
go bark up another tree

>> No.56506438
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Bitcoin is the most sound money ever conceived. Countless projects have attempted and gotten arguably close to recreating Bitcoin's success/fundamentals/infrastructure but there will always and forever will be only one

>> No.56506448

society was at its peak at step 2

>> No.56506451
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I'm at stage 7 where privacy features become really important. I call it the $Monero stage

>> No.56506877
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>crypto isn't about privacy
>hidden currency isnt about privacy
Nigger what
That was half of its initial appeal and you retards will learn why sooner than later.

>> No.56506881

I'm #3

>> No.56507090
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>>What exactly does Bitcoin do that any other crypto can not?

>> No.56507099
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>>What exactly does Bitcoin do that any other crypto can not
>Make you seethe

>> No.56507829

Maxifaggots will seethe.

>> No.56507836

kek i remember

>> No.56508219

Replace the final frame with Kaspa. I would upload my own photo but jannies blocked my ip

>> No.56508928

Even on dark markets btc is not used anymore because it's so slow and expensive to transact. But that was exactely the plan when it was highjacked by mastercard etc. People mainly use monero nowodays it seems.

>> No.56509011

Better dump your AVAX for FAT and enjoy amazing casino gaming experience. Smartest way to stay afloat the bear bites.

>> No.56509357

This, but I skipped step 3.