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/biz/ - Business & Finance

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7627795 No.7627795 [Reply] [Original]

>JP Morgan says that bitcoin is actually only worth 1-3k

wew lad

>> No.7627815

sauce?
where is this from?

also lmao at this coming from JPM

>> No.7627823

That is why POS is the future

>> No.7627827

>Value is tied to cost to mine

They're as dumb as some of the people on /biz/ are

>> No.7627847

>>7627795
Man fuck the USA, we always have to be stone age at everything tech, our esports is always 7 years behind.

>> No.7627854

>>7627827
Why do think it stopped in the $6-7k range during the most recent crash?

>> No.7627862

>>7627823
>The rich get richer
>POS is the future

Nah man (it also isn't PoW either)

>> No.7627883

>>7627854
>Why do think it stopped in the $6-7k range during the most recent crash?

It doesn't cost $6-7k to mine a single Bitcoin you dummy, much less than that

>> No.7627886

is new /biz really this stupid? The cost of mining the coin is not necessarily the cost it will sell for at market. How much does it cost to print a dollar? how much does it cost to print 100 dollars? You fools go ahead and sell JP morgan your precious btc

>> No.7627896

>>7627827
>Value is always tied to cost of production
>Bottled water costs $1/each

EXPLAIN THIS

>> No.7627908

>>7627847
what ar eyou doing abou tit?

>> No.7627922

>>7627795
bitcoin is actually worth only $0 .

its a useless ponzi .. like all these meme coins

>> No.7627933

>>7627795
Its likely even less. The fact that it is so expensive to produce means jack shit, this is not USSR ffs. You cannot dig a hole for entire day just because and get payed because you fucking dug for entire day.

>> No.7627940

>>7627883
Depends on your electricity bill. If it costs chinese hydroelectric-adjacent factories 3,500 then it could definitely cost 5k for the least efficient quarter or so of miners.

>> No.7627945

>>7627922
Spreading FUD should be illegal. It's basically like trying to start bank run.

>> No.7627947

Thats why you dont listen to Boomer Banks advice. They have no fucking clue, it only costs so much because there is so much competition to mine it. If the price collapses, miners quit and thus it gets easier and cheaper to mine. The whole BTC network could get mined on a single laptop like it was in 2008.

>> No.7627985

They are talking about intrinsic value and extrinsic value you fucking morons. A month ago your meme coin was worth 20k
Kek

>> No.7627988

>>7627886
It's an important factor. When a government makes a physical coin, if the value of manufacturing it offsets the value of the coin itself they stop making it for obvious reasons.

>> No.7628069
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7628069

if you don't have money in ripple you're a fool

>> No.7628123

>>7628069
>Source: Ripple website

Yes, buy bank coin friends

>> No.7628166

>>7627847
Our Esports is behind because anyone who has the ability to play ranked 1 in America can make tons more money elsewhere. It's only been recently top e-sports pay has matched fortune 500 pay

>> No.7628189

>>7627795
They’re right though.

>> No.7628202

>>7627988
>America still uses pennies

>> No.7628203

>>7627823
>>7627862
PoB
IOST ftw
15X when testnet release shows proof of concept next month

>> No.7628239

>>7628203
>PoB

Proof of what?

>> No.7628260

>>7627795
JPM kikes want to buy in. Pump it.

>> No.7628276
File: 1005 KB, 1439x1767, JPMORGAN.jpg [View same] [iqdb] [saucenao] [google]
7628276

>>7627795
Theyve been saying that since they bought you newfag nigger

>its going to 2500 aka the price they bought

>> No.7628298

>>7627862
basically in the same way that they do already with mining operations. POS has pools as well you know, just like mining pools

>> No.7628301

>>7627862
PoW entry ticket
>$1k+ costs in hardware
>access to cheap electricity
>reliable internet
>safe location

PoS entry ticket
>$0.001 of cryptocurrency
>temporary internet connection to initiate staking pool participation

"the rich get richer" applies to PoW so much more, arguing otherwise is a laughable argument from miner cucks sweating heavily at the idea their investment might go poof

>> No.7628328

>>7628202
>America still uses pennies
I think that's because the lobbying metal industry (zinc) benefits from penny minting.

>> No.7628332

>>7627795
the intrinsic value should consider more than the theoretical cost for the absolute most efficient guy out there. maybe at equilibrium that would be the case but cost is

1. hard to measure
2. rising to meet the market for bitcoin over the medium term

this is just BS from a bank. it's like 2014 all over again. get ready for 1 year of "blockchains are transformative but bitcoin isn't", then those projects all fail, then however long for the next bull market and/or string of banking crises

>> No.7628343

>>7628301

The funny thing here is that you're comparing PoW with PoS when I don't think either will make it long-term and that there are better options available or in development right now

>> No.7628358

>>7628332
Spotted a delusional corecuck.

>> No.7628360

congrats OP you are the most retarded nigger ever. learn to read.

>> No.7628381
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7628381

>> No.7628382

>>7628239
Benis :D

>> No.7628389

>>7628276
what is this? XBT futures contracts? Seems like too many trades w.r.t to time

buyer/seller/count/paid and time? i can almost read your scando language (NL here).

>> No.7628469

What is the logic in using cost to produce as the measure of value? Does it cost 800 to produce an iPhone? We still say that iPhones value is 800 because that’s what the market will pay for one. It costs as little as 500 to mine an oz of gold but we don’t say golds intrinsic value is 500 do we?

>> No.7628592

>>7627988

If btc wasn't profitable enough to mine and meet its 10-min block time, the difficulty would decrease along with mining cost.

>> No.7628675

>>7627795
Feels good knowing that even the analysts working at JP Morgan are even more retarded than half the people on this mongolian yak fetish forum.

>> No.7628848

>>7627896
Shipping and bottling costs

>> No.7628957

>>7628675
>he doesn't understand the words extrinsic and intrinsic
>feels the need to brag about his own lack of intelligence on a Nipponese Doll Collecting forum anyway
You couldn't be more Reddit if you tried.

>> No.7629103

>>7627795
Lmao JPMorgan = rich butthurt baby boomers.
Get fucked boomers. Your fiat currency is going dowwwwn boi.

>> No.7629364

>>7629103
your right
buy JPMC coinnext week on etherdelta to butthurt them

>> No.7629390

>>7627795
lmao, I can't believe they told us the price they bought in at. holy shit.

>> No.7629408

>>7627815
jp morgan made a lot of spot on calls during the summer just to let you know.

>> No.7629456

>>7629103
bitcucks are cryptoboomers now
stfu with you dinosaur coin
the sooner it goes back to 1k where it belongs, the sooner we can have our bull market with other better cryptos

>> No.7629693

>>7627922
>bitcoin is actually worth $0
>this wallet full of pieces of paper are valuable because everyone else agrees its valuable

hmmmmmmm

>> No.7629720

>>7628069
lol aw look it's retarded

>> No.7629804

>>7628276
that is the bank they settle with not the investor

>> No.7629909

>>7629390
Stupid nucoiners.

>> No.7629993

>>7629408
yeah like that time they said they would fire employees if they bought BTC then turned out their whole fucking company bought truckloads of btc in sweden

>> No.7630024

probably less, this coin is alive on its name alone. It's an outdated piece of shit

>> No.7630043

>>7627795
>JP Morgan unironically following Karl Marx's theory of labor and saying that a goods value is tied to the cost of production
What timeline am I living in when one of America's biggest banks is literally basing its business on one of the fundamental assumptions of communism?

>> No.7630079

>>7629693
t. brainlet

>> No.7630310

>>7630043
A goods value is tied to the cost of production.

Thats not marxist theory, its classical economics.

Price is the intersection of supply/demand curves.

The cost to produce etc. helps determine the sypply curve.

Whilst I agree that "intrinsic" value may not be the right word to describe this, its still true that the value of bitcoin is tied very closely to how easy it is to produce

>> No.7630345

>>7630043
karl marx didnt create the labor theory of value, adam smith did.

>> No.7630446
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7630446

>>7627847
>esports

>> No.7630663

>>7627795
Did you read this before you posted?
>extrinsic
>intrinsic
This is about the cost to "mine" a BTC
Thats the intrinsic value
Do you think gold is valued at the exact cost of mining?
Are you a fucking retard?
Does anybody here bother reading any of this shit?

>> No.7630692

>>7630446
No one even goes outside anymore, only stacy's and chads most people just dabble on their phone.

Literally fucking binded my facebook account last year to Mobile Legends and fucking normies and decent looking females that post on instagram in shit are playing a FUCKING PHONE MOBA GAME.

People are going to move to digital esports whether they like it or not.

NFL and most sports are in decline every year along with youtube - twitch celebrities more popular then mainstream shit. It doesn't take a fucking rocket scientist to know were heading this way.

>> No.7630768
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7630768

>>7627795
You're right. Everything should be worth exactly the cost of production and no one should ever profit off of anything ever.

>> No.7630802
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7630802

>$3000 for a Bitcoin?!
>Where do you get off trying to sell me a bunch of 1's and 0's for $2500?!
>I wouldn't pay $100 and here you are trying to charge me $2000?!
>$1500 for a Bitcoin is highway robbery!
>You must be out of your mind! $1000 for a Bitcoin?! I won't pay it, you hear me?!