/biz/ - Business & Finance

[Anonymous No.59485143]

>*does nothing*

[Anonymous No.59485155]

>>59485143
>goes parabolic

[Anonymous No.59485162]

>is the single greatest store of value the world has ever known

[Anonymous No.59485166]

>>59485162
ok but i thought it was a legitimate currency? why are you moving the goalposts?

[Anonymous No.59485170]

>>59485166
BTC is not currency.
BTC is money.

There is a huge difference.

[Anonymous No.59485178]

>does nothing
>wins

[Anonymous No.59485181]

>>59485170
it's literally a cryptocurrency
it's in the title

[Anonymous No.59485184]

>>59485181
You own BTC, right?
I really hope you do

[Anonymous No.59485185]

>>59485166
>>59485181
>Nooooooo! You have to use my heckin fiat currency or some other store of value that either depreciates in value or just barely appreciates at all! Don't put your money anywhere else and earn money! Miss out on it like me instead because I'm too scared to adapt to changing technologies!

[Anonymous No.59485213]

>>59485184
>>59485185
if it's just a store of value, then what do you use for purchasing things? nobody accepts bitcoin where i live, and especially not any volatile altcoins. you are ultimately still dependant on fiat whether you like it or not. this libertarian ideal you all have is just an illusion.
the only legitimate reason to buy cryptocurrencies is to get rich. le technology is a gay cope and retarded.

[Anonymous No.59485232]

>>59485213
>If you invest in stocks then what do you use for purchasing things?
>If you invest in gold and other precious metals, then what do you use for purchasing things?
I have cash on hand ready for when I purchase things, but most of my money is tied up in investments where if I need more money, I just sell off what I need in order to to be able to pay for what I want. Meanwhile, the BTC appreciates in value more than it would if that money was simply sitting in a high yield savings account, an ETF, individual stocks, precious metals, fine art, a house, government bond, etc.

Anon don't tell me all your wealth is just sitting in a bank account.

[Anonymous No.59485237]

>>59485213
You're missing the point.

In order to understand Bitcoin, Gold, and Silver, you have to understand what money is and what currency is.
You have to understand a bit of financial history and what every government has done for thousands of years.

The United States Dollar is not money.
The United States Dollar is a fiat currency that the government literally prints every single day.

Because the currency is printed every single day, it loses value every single day - and especially during periods of crisis and economic uncertainty, because the government simply prints their way out of any issue (remember COVID?)

Because of this, saving currency is the absolute stupidest thing a person can do, because they are saving what the government is constantly debasing.

So the wealthy, and those with any financial sense, constantly seek STORES OF VALUE - MONEY - to buy with their worthless currency.

Throughout history, gold has been the superior store of value because of its properties. Gold is fungible, durable, divisible, scarce, and transportable. This is why precious metals have been money for all of human history.

BTC is so valuable because it has all of the properties of gold AND IT CANNOT BE SEIZED by FORCE whatsoever - not to mention it is truly decentralized - no bankers required.

BTC will flip gold just like it has flipped silver because BTC is simply better than gold in its properties.

[Anonymous No.59485278]

>>59485143

Bobo can’t pull it down past 92k kek

[Anonymous No.59485309]

>>59485232
>>59485237
so you admit it's not a currency?
btw any retard with a hammer can beat your private keys out of you, and good luck getting any of it back. yeah it's technically decentralized but you still rely on exchanges which only use fiat and must record your transactions for the tax office. it will never be the future of money because it's useless beyond the early adopters getting rich off of it.
>>59485232
>high yield savings account, an ETF, individual stocks, precious metals, fine art, a house, government bond
these all have inherent purposes in various industries, people would require these things even if the financial incentive didn't exist. bitcoin has no such purpose. my fat log in the toilet is scarce and unique, that doesn't make it valuable.

[Anonymous No.59485322]

>>59485162
A growth asset is not a store of value, in the sense that’s it’s not “stable” as you seem to be implying.

[Anonymous No.59485328]

>>59485309
>so you admit it's not a currency?
That's what I said earlier. You're still not getting it.
BTC is MONEY - it is a STORE OF VALUE.
Gold is the most valuable asset class on the planet, but the vast majority of people do not buy or sell using gold.

>btw any retard with a hammer can beat your private keys out of you
No, they can't.
If I have gold in my house, a person can come in and shoot me and take my gold.
If I have land, a group of significant force can kill me and take my land.

If I have BTC, and a person kills me, THEY DO NOT GET my BTC. It is impossible to take someone's BTC by force unless they willingly give it up.

>yeah it's technically decentralized but you still rely on exchanges which only use fiat and must record your transactions for the tax office. it will never be the future of money because it's useless beyond the early adopters getting rich off of it.
Holy shit you still don't get it, I'm beyond amazed.
Decentralization means the government cannot control the supply nor can the government print it. It is specifically peer-to-peer transactions and nothing else.

If you cannot understand how stores of value are valuable, then I have absolutely no idea how to help you.

[Anonymous No.59485354]

>>59485328
>If I have BTC, and a person kills me, THEY DO NOT GET my BTC. It is impossible to take someone's BTC by force unless they willingly give it up.
keke okay buddy i'm sure you're gonna be the special operator that doesn't crack from torture. you will willingly give it up.
I UNDERSTAND HOW IT IS VALUABLE, HENCE WHY I SAID THAT IT'S ONLY USE IS TO GET RICH.
BUUUUUUUUUUUT, from the very start of the thread, my argument has been:
>*does nothing*
and you have NOT disproven this claim one bit. it literally DOES NOTHING, it is USELESS. give me a single use case of bitcoin, just ONE (1).
YOU CAN'T

[Anonymous No.59485370]

>I UNDERSTAND HOW IT IS VALUABLE, HENCE WHY I SAID THAT IT'S ONLY USE IS TO GET RICH.
No, the point is to STORE VALUE.

>and you have NOT disproven this claim one bit. it literally DOES NOTHING, it is USELESS. give me a single use case of bitcoin, just ONE (1).
Holy shit lmao
Whatever man, have fun buying at 1 million like everyone else.

You genuinely cannot seem to understand the difference between currency and money at all.
Reread everything I've said carefully.

[Anonymous No.59485393]

>>59485309
Everything you're saying about BTC in the first bit of your response is equally as true. Anyone can can beat you for stuff you own. That doesn't mean I'm not going to own anything. Why is BTC an asset that is any different than any other asset, all of which can be stolen? And the rest of what you said there isn't necessarily false, it's just that I have to pay taxes. I live in a state that doesn't tax securities like cryptocurrencies as income nor capital gains tax. I just have to pay federal taxes which, just like some other asset like equities, I would also be paying a tax on.

Just look at the numbers, yes BTC is significantly more volatile and it's a huge risk to own opposed to more traditional assets like stocks. Now look at the returns. If I were invested in the stock market, my wealth would have appreciated, sure, and at a pretty good amount. However, had I put that money in BTC alone, my wealth would have appreciated at a rate over 10x larger. I would have had a greater net worth. I don't get what you are arguing here, it's basic math dude. Yes we don't live in a libertarian utopia, we live in our world but even in our world it is has at least in recent history increased the net worth of a lot of people by a significant amount greater than traditional investments.

As to the second half of your response, I'm not arguing that these other assets don't have a response. What difference is it in our current day if I have BTC on some wallet or exchange, or if I have gold sitting in a safe? Let alone that if I owned a government bond, ETF, or stocks; For all intents and purposes, for most of my life, they'd serve the same purpose of just sitting somewhere. Sure I could live in a house or appreciate art or find a use for the gold or precious metals, but for a lot of people and I, it's just stuff that's sitting somewhere. Your shit isn't valuable on it's own but if someone were to say they'd give you $5 for it, then it's worth $5.

[Anonymous No.59485401]

>>59485354
When we're saying it's a store of value, do you understand what that means? You legitimately don't do you? If I have $10 in my pocket, it doesn't do anything until I pull it out and give it to someone in exchange for something. What does gold do? Does it get up and do my laundry for me? No, it just sits there until I feel like it's an appropriate time to exchange it for something else or I act upon it in some way to make something with it. Anon you live in an age where most people's relationship to their wealth is a number on a screen that literally does nothing until it is digitally transferred somewhere else. It's not difficult.

[Anonymous No.59485430]

>>59485213
it's so funny how at the peak of the bull market everyone will deny this. Then in the depths of the bear embarrassment takes over and they are questioning it again

[Anonymous No.59485437]

>>59485328
>It is impossible to take someone's BTC by force unless they willingly give it up.
:D

Mr. Trustless Money is back posting his garbage on /biz/. why cant you stay away like last weeks/months? scared of the coming crash?

[Anonymous No.59485486]

>>59485322
It's a store of increasing value until it reduces in value to less than the value your first stored it at. A revolutionary product.

[Anonymous No.59485516]

>>59485486
Why does it have to do something like cure cancer to impress you guys? As you said, much about it isn't revolutionary, but it's the best of its kind when you compare it to other asset classes. What is the point you are trying to make? It can't bring the dead back to life so don't bother with it? It's not a complicated subject at a superficial level. If you wanted your net worth to increase over the last decade or so, your best option would have been putting your money in cryptocurrencies. Simple as. Does this mean it will yield the same results in the future? Maybe, maybe not. I think it's safe to say it won't do as well as before as the price will eventually stabilize and the curve flattens out, but it could continue to outperform other assets and that's going to be a risk some people choose to make.

[Anonymous No.59486085]

>>59485328
>Gold is the most valuable asset class on the planet
*Laughs in Nasdaq-100*

[Anonymous No.59486209]

>>59485143
>does nothing

Inb4 ackshually does something. No, 95% of gold's value is purely speculative.

[Anonymous No.59486239]

>>59485143
>*makes old people angry*

[Anonymous No.59487041]

>>59485370
>You genuinely cannot seem to understand the difference between currency and money at all.
kek

>>59486209
>NO YOU DONT UNDERSTAND, MY SPECULATIVE ASSET IS BETTER THAN YOUR SPECULATIVE ASSET BECAUSE... BECAUSE IT JUST IS OKAY???

there are two kinds of people who invest in crypto: people who dont care about the tech hoping to make a fuck load of money and liars

[Anonymous No.59487047]

>>59486209
Gold does a lot actually, nice try though.

[Anonymous No.59487176]

>>59487047
It's value is mostly speculative. Its industrial applications in jewellery and electronics have only a small impact on its price.

>>59487041
>MY SPECULATIVE ASSET IS BETTER THAN YOUR SPECULATIVE ASSET BECAUSE
We already established that bitcoin is better because it is more convenient to exchange. I can literally keep my bitcoin in my head, memorized. And there are tools available to launder and anonymize bitcoin at the click of a button.

[Anonymous No.59487284]

>>59487176
>Its industrial applications in jewellery and electronics have only a small impact on its price.
yeah, cause it's valuable, not everyone can afford to drape themselves in gold, I can walk on the street and see people wearing gold though, nobody uses Bitcoin for shit, it's purely speculative garbage.

[Anonymous No.59487605]

>>59487284
>gold's uses only contribute a small amount to its value
>it's valuable because it's valuable
An asset is only as valuable as what someone is willing to exchange it for. If we're talking about USD as that measure of value, gold is worth just over $2600 an ounce, BTC is worth just over $93k per Bitcoin. So by your criteria, BTC is valuable.

>Nobody uses Bitcoin for shit
Except the millions of people that have over 2 trillion dollars worth of it, some of whom live comfortably off of their BTC holdings selling off a bit here and there to pay for bills or whatever else they may need.

[Anonymous No.59488500]

>>59485162
Stores of value don't tank 20% a week after you buy them.

[Anonymous No.59488545]

>>59488500
Sure they do, and more, as you could clearly see. If you want to store value for 2 weeks, don't bother.

[Anonymous No.59488646]

>>59485213
The technology MAKES you rich dumbass, that's the whole point. But you can join Martin Cuckerli and company and remain poor and stupid.

[Anonymous No.59488651]

>>59488500
You can wait for BTC to be $10,000,000 a coin so it's not as volatile anymore.

[Anonymous No.59488718]

>>59485143
Literal shitcoin that has one usecase being LINK suppression

[Anonymous No.59488751]

>>59488500
>Stores of value don't tank 20% a week after you buy them.
BTC crashed from 108k to 93k? This time it'll surely be different than all the other times thr price dropped. This time it's surely done

[Anonymous No.59490354]

>>59487605
>some of whom live comfortably off of their BTC holdings selling off a bit here and there to pay for bills or whatever else they may need.
lol that's not a use. they're using dollars or whatever to pay their bills not Bitcoin

[Anonymous No.59490376]

Why do we trade, OP?
Because voluntarily exchange is positive sum.
What does money do?
Facilitates voluntary exchange.
What is the value of btc?
As a trustless fixed unit, btc can only be acquired through voluntary exchange.
Why is this important?
Because it forces positive sum gaming in-the-limit.

[Anonymous No.59490406]

>>59485166
it's a currency

[Anonymous No.59490408]

>>59485213
>a store of value
you cannot store value

[Anonymous No.59490412]

>>59485309
>so you admit it's not a currency?
they're not devs or anyone with any sort of authority on the project
it is a currency

[Anonymous No.59490428]

>>59485143
you are all dumb
follow the knowns

[Anonymous No.59490433]

>>59485166
It's both though. I can buy shit seamlessly with it,I can invest in it. I don't fucking care, get sidelined if you want. Why can't you google search things though? Are you sub 60 iq? Are you a boomer? Oof, sorry about that sweetie, best of luck.

[Anonymous No.59490451]

>>59490428
that chart looks like the peak is 3 colors down every time which means the peak is now

[Anonymous No.59490457]

>>59485309
Holy shit bro just stay sideline and fucj off you're such a fuckung retard. If you're not actually a fed you should just stay sidelined like holy shit you're fuckung stupid.

[Anonymous No.59490459]

>>59490408
Yes you can. In the C programming language, these things called variables can store values. You can literally store any value you want.

[Anonymous No.59490480]

>>59490428
>Posting the outdated chart model
>And the chart he posted is from like literally a year ago

Here's what you were trying to post.

[Anonymous No.59490571]

>>59490408
False. To transfer value temporally one only needs to hold assets that will have demand in the future. Increasing supply is equivalent to decreasing demand so being constrained in supply is necessary. To transfer value into the future I therefore want two things: constrained supply (preferentially fixed) & network of use as a constrained supply asset. I want these things because I know that the future will also want these things, I want the largest fixed unit of account as it will be in demand in the future, I want BTC. BTC = Value.

[Anonymous No.59490599]

>>59487041
he's a fucking retard who somehow conjured up that money is not currency. impressive mental gymnastics if you ask me. Whenever BTC is in a downtrend you'll find him here in threads desperately defending his bitcoins

[Anonymous No.59490608]

>>59490480
>retrofits
>"I am predictiiiiiiiiing"

[Anonymous No.59490752]

>>59490599
A rose by any other name, slavemind.

Money (Unit of Account) is different than currency (Medium of Exchange), Store of Value is a use of a UoA.

[Anonymous No.59490905]

>>59490408
this >>59490459 is one example of how you can store a value lol. How can you not store value? If a gallon of gas is $4 and I give a cashier $4 for a gallon of gas, that $4 represented the value that gallon of gas held to me.

[Anonymous No.59491935]

>>59485184
It's too expensive for most normies. Best to start with new projects like TOKEN

[Anonymous No.59492043]

>>59490599
The currency of the future kek

[Anonymous No.59492083]

>>59491935
I'm using the app and I'm optimistic about the token launch

[Anonymous No.59492087]

>>59490459
touche

>>59490571
inherently wrong
you cannot predict future demand, nobody can

>>59490905
stay in school fiatcel
I suppose I should commend you for the math, your bank on the other hand thinks $4 = $0.00000000000000004

[Anonymous No.59492490]

>>59492087
The future won’t also wish to transfer value temporally? Of course it will, as this is systemically useful and necessary for the healthy functioning of the human superorganism