[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 57 KB, 1200x1200, IMG_1486.png [View same] [iqdb] [saucenao] [google]
58630265 No.58630265 [Reply] [Original]

>goes from zero to $1 trillion in 12 years
>obviously this is a fad that will blow over in two more weeks
How fucking stupid do you need to be?

>> No.58630281

>this is a fad that will blow over
nobody said that you stupid nigger, just that its gonna go down for a bit

>> No.58630325

>guys it went up so it has to be good
>no everything else that goes up is not the same this is different
>stop asking questions it WILL go up ok IT JUST HAS TO

>> No.58630329

Bitcoin has been flat for 3 years.

>> No.58630334

>>58630265

> it's obvious it's gonna go up!!! how stupid u gotta be dude??

>> No.58630410
File: 530 KB, 1161x1411, 1717619512357.png [View same] [iqdb] [saucenao] [google]
58630410

>>58630329
I wouldn't really call it flat, just boring

>> No.58630421
File: 70 KB, 1674x843, asas.png [View same] [iqdb] [saucenao] [google]
58630421

>IT'S NOT A FAD
>BITCOIN CAN STILL PUMP

>> No.58630426

>>58630265
there is a ton of stupid people out there anon.

>> No.58630460

>>58630421
The only other thing that has gained $1.3T ($1,300,000,000,000) in the same time was your mother's waistline

>> No.58630523

>>58630265
Did nvda go from nothing to 3 trillion in like 2 years?

>> No.58630602

>>58630410
It's basically followed QQQ for the past few years. In other words it tracks general USD liquidity. The initial alpha came from growing interest as it proved its staying power, but now it's converging as >>58630421 chart shows clearly.
At this point public awareness is complete, and many investors already have a modest allocation. The entire value comes from existing holders selling to future buyers at a profit, so where is the future growth?

Compare vs gold, for example. The primary difference in terms of total market value is that gold is held by national banks around the world, and bitcoin is only held as a small experimental position in El Salvador currently. Personally I doubt this changes any time soon. Unlike bitcoin though, gold also has commodity use and is actively mined around the world with much of the marginal demand going towards consumer products.
Bitcoin has the theoretical advantage of fast settlement, but the reality is that mining demand + high fees result in a tech solution that is incredibly expensive per payment compared to existing processors like visa/mastercard. So bitcoin is not a useful currency, just a store of value.

>>58630460
NVDA gained more than 1.3 trillion in that timeframe, and is a company with real profits and positive yield for holders.

Despite all this, it's inevitable that there will always be aggressive bitcoin promoters. The coin only has value if others believe it has value, so it's like a religion. You must spread the virtue and convince others to participate, otherwise all you have are some worthless bits of logic. Even if promoters don't understand it on this level, they are passive participants in the phenomenon.
The most common argument is that US dollar is trash so bitcoin is the only option, but this is a false dichotomy. Stocks exist. Real estate exists. There are an infinite number of limited quantity goods with which to store value. USD savings are only for monthly consumption.

>> No.58630615

>>58630602
midwits like you never learn

>> No.58630688

>>58630410
I think hes referring to the comparisons to the m1 money supply

>> No.58630749

>>58630615
This cope was expected. The dying cry of an anon without an argument.
I can almost guarantee I've made more money off crypto than you'll ever see in your life, adjusted for inflation. Statistically the odds are around 99%.

I'm sorry you missed a generational wealth transfer. I'm sorry your feeble brain will never understand what it means to truly compound wealth.

>> No.58630765

>>58630749
your argument is a loose association thats not even worth getting into. correlation doesnt mean causation

>> No.58630876

>>58630765
>correlation doesnt mean causation
More cope. Bitcoin is entirely speculative so correlation does in fact drive causation. Technicals are fundamentals. Line going up implies line goes up. It's called momentum.
Similarly, line converging with other related stores of value implies outsized gains are done.

Even if you're incapable of responding directly to the issues I presented, you could start by naming one (1) single bullish factor that's exclusive to bitcoin at this point in it's lifecycle.
But you won't because like most anons on this site, especially phoneposters and 1pbtids, the full extent of your intellectual capacity is to utter the simple words and phrases like:
>your wrong
>retard
>faggot

Of course I can't say whether you're wrong because you haven't actually said anything of substance. Good luck with your investment, regardless.

>> No.58630895

>>58630523
I'm tired of this NVIDIA comparison. NVIDIA boomed because of crypto miners, AI, Smart Cars and video gamers surging for demand. It's a unique circumstance and will probably never happen for a few decades. You can't compare apples to oranges. Bitcoin has its use but it hasn't refined itself in anyways or advanced. It's a way to buy stuff bypassing Visa/Mastercard and a hedge against whatever you want it to be. Nobody is going to be using BTC in day to day purchases at this point when you got so many cash transfer apps. Venmo is king