/biz/ - Business & Finance

[Anonymous No.58643976]

No matter how many times i ask someone to explain crypto-currencies to me, I always get the impression that theyre just ponzi schemes/beanie babies where you hope you can sell to some sucker down the line by convincing him theyre worth more now than they are in the past.

[Anonymous No.58643990]

>>58643976
What if you investigate cryptocurrencies by your own instead of relying on someone else's explanation?

[Anonymous No.58644005]

>>58643990
I doubt 95% of people who trade crypto understand at the most basic level what a cryptocurrency even is

[Anonymous No.58644026]

>>58644005
Is not even a hard concept to understad. Is just a software that simulates the kind of ledgers that banks use between each other to know who owes who what amount

[Anonymous No.58644061]

>>58644005
my own research only confirms my suspicion that crypto is a ponzi scheme

[Anonymous No.58644118]

>>58644061
At what point in time do you think Bitcoin will run out of funds to be able to cash out their investors?

[Anonymous No.58644366]

>>58643976
>https://youtu.be/QI_9WZbOf3o?si=aZfGhPf2IWzNCu5P

[Anonymous No.58644414]

>>58643976
That's because they *are* just Ponzi schemes.
>>58644118
When the public is no longer interested in getting fleeced.

[Anonymous No.58644425]

>>58643976
That's exactly what they are, but that doesn't mean you can't make money out of these baggies.

[Anonymous No.58644438]

>>58643976
Any currency is, in that sense, a ponzi scheme. The key though is that the ponzi scheme intends to grow unsustainably and extract as much from late entrants as possible and then collapse. Some cryptos definitely match that pattern, but bitcoin and most blue chips aren't promising to be aggressively exponential forever, the assumption is that they'll reach eventually reach maturity and their growth will level off and be dependent from there on its demand as a non-inflationary store of value or as the native currency of a smart contract network or whatever.

[Anonymous No.58646120]

>>58644118
dunno, hard to tell. Most likely when it gets regulated and loses its appeal to drug dealers

[Anonymous No.58646359]

>>58646120
It already got regulated and lost its appeal to drug dealers. Drug dealers only accept monero nowadays

[Anonymous No.58646381]

>>58643976
>ponzi schemes/beanie babies where you hope you can sell to some sucker down the line
that's everything in life, including life itself

[Anonymous No.58646495]

You're right, but not because anything is wrong with crypto. All investing is a ponzi scheme at its core, just to varying degrees. If bonds are an old lady driving a car at 30 mph and stocks are a slightly overweight guy going slightly over the speed limit, crypto is like a bigger going 130 mph in a charger. Hope this helps

[Anonymous No.58646589]

>>58643976
>>58644061
>>58646120
Crypto is a ponzi but it's the best structured ponzi in existence.
>you can sell to some sucker down the line by convincing him theyre worth more now than they are in the past.
When you buy an established crypto it's no different than buying a stock. Same exact risk. If you dont want to play crypto why should you play the stock market? Exact. Same. Risk.
>Most likely when it gets regulated and loses its appeal to drug dealers
You're a huge newfag I can tell. I can't spoonfeed you into changing your mind, but I can tell you that more than drug dealers use crypto and drug dealers have never speculated the investment, they have only used it as a means to an end.
BTC will never run out of liquidity because it is liquidity.
BTC is a fundamental replacement for fiat.
You MUST read more on the founding of BTC and how it came to be to understand it.
BTC only converts into fiat due to Central Exchanges which are against the entire concept of crypto in general.
Once you trade your crypto on exchanges it's not your keys not your crypto. Meaning any time you trust a CEX with your crypto it's not in your hands.
Regulation is good for ETH not so good for BTC.
If nothing else you should trust BTC as a faithful replacement of value for fiat.
Yes, one day the bullruns will stop being so glamorous which is the number one reason to accumulate now, before the price is out of reach forever.
BTC will outlast our monetary system because you can theoretically hash BTC with a pen and paper.
BTC is not a get rich quick scheme. It's a slowly hedge the world economy into the blockchain scheme. Shitcoins are the real ponzis. Alt-coins running on ERC-20 are fools gold.

[Anonymous No.58646603]

>>58646589
tpbp

[Anonymous No.58646915]

>>58643976
Most of them don't know shit, fact
but if you find someone, who knows someone who generates, invests and does it quietly, I can assure you that person does know what they are doing, but you have to find them.

[Anonymous No.58646916]

>>58643976
I always try to explain crypto based entirely on utility coins. And when some utility tokens are hard to explain i just use smaller words. For example agrs is the token behind the AI that will allow you to make your own software using sentences, if you can describe it the ai will do it (that's easy enough) then there's fitfi that is a game that gives you money the more you run, and so on. If you're having a hard time describing crypto to others (or understanding them yourself) just use simpler words, its not that hard

[Anonymous No.58646921]

>>58646916
shut the fuck up faggot

[Anonymous No.58646923]

>>58646916
op is basically saying that crypto is a ponzin because he doesn't understand it, and frankly, i dont either

[Anonymous No.58646940]

>>58646589
>BTC will outlast our monetary system because you can theoretically hash BTC with a pen and paper.
>BTC is not a get rich quick scheme. It's a slowly hedge the world economy into the blockchain scheme. Shitcoins are the real ponzis. Alt-coins running on ERC-20 are fools gold.
look i know all of this is true and you're trying to sound smart but you're just validating op's point about crypto just being technojargon vomit and nothing more

[Anonymous No.58646941]

>>58643976
maybe you should leave your cave a little bit and really learn, believing what an anon person says in a thread is very unprofitable.
get out of the house or read a little
no offense.

[Anonymous No.58646948]

>>58646916
You invest in agoras because you're in it for the tech.
I invest in agoras because i dont like being called a monkey
we are not the same

[Anonymous No.58646961]

>>58646916
are you joking?
you r so smart kek

[Anonymous No.58649106]

Unit of account, money-as-tally-board, is the primary function of money. It is this function that enables economic calculation, it is this function that enforces the game theory of voluntary exchange and frees us from the hobbesian war of all-against-all.

We now have an immortal, incorruptible, trustless, stateless, transparent tally board to ensure all the big, important tallies add up. If the current tally board is fair, then BTC should have a value of zero, if the current tally board is corrupt, BTC will approach Sole Denominator in-the-limit. Is the current tally board fair? Which path are we on?

[Anonymous No.58649161]

>>58646589
>Meaning any time you trust a CEX with your crypto it's not in your hands.
How do you feel about DeFi?

[Anonymous No.58649166]

>>58643976
That is because you are correct and this is objectively the truth. Cryptocurrency is not the everyman's wealth generator, it's a landscape that exists to create new realms of exploitation for already rich people to scam a new kind of sucker (crypto fags).

Faggots who wear suits to their cubicle at the call center will tell you differently but you don't see them retiring at 30 do you?

[Anonymous No.58649418]

>>58646589
>BTC is a fundamental replacement for fiat
Thinking too small. Don't conflate Money, the unit of account within economic calculation, with currency and our individual uses of money. BTC isn't currency, or "a" money, it IS money, it can be used as THE unit of account, not just an approximation like we've been using throughout history. This is a huuuge advance, both massively simplifying economic calculation as well as guaranteeing positive sum gaming in-the-limit by acting as an incorruptible tally board. 7tps is unironically adequate, it doesn't need to scale if it's the sole denominator, and the only thing stopping it from that is capitalization. BTC is useless today, but the most useful thing that has ever existed at $1 quadrillion, this will happen eventually as the genie is out of the bottle, before BTC we did not have the means to create a true unit of account, now we do, no longer a question of "if" only "when"

[Anonymous No.58649429]

>>58643976

THAT SHIT'S NUTS NIGGA

[Anonymous No.58649481]

>>58643976
guess what, no one gives a fuck what you think.
the real MMs are already pumping the market using some of these trending narratives..

[Anonymous No.58649501]

>>58649481
especially DePins. i got me NAI, and LPT

[Anonymous No.58649502]

>>58649418
>7tps is unironically adequate
No it's not. Layer 2 will never solve this problem

[Anonymous No.58649572]

>>58649481
SocialFI is begining to make waves with the likes of Hydro and Pop leading the charge

[Anonymous No.58649588]

>>58644026
Crypto simulates a database table? Nearly got it but also far from the actual truth

[Anonymous No.58650852]

>>58649502
Price carries information. Only aggregate demand moves the price so only aggregate demand encodes novel information. We don't use equities or real property as transactional media, so why would we need to use BTC as transactional media? Again, you're conflating what you use money for and what We the collective superorganism of humanity use money for, We use it for economic calculation, that's where the systemic value lies, that's the problem BTC can fix, that's where BTC will reside.

[Anonymous No.58650889]

>>58649588
>Crypto simulates a database table?
Yes. A very secure, immortal, incorruptible, trustless, stateless, transparent excel sheet. The most useful thing ever discovered.

People struggle to see this value of BTC because its not large enough yet to be useful for that most useful function. As it approaches the requisite size it becomes easier and easier to grasp, accelerating it's growth. Never forget humans poor intuition of exponentials, we are 2^4 to 2^8 away from the required capitalization, we've already traveled over 2^16 to get here, we are much much closer then you realize.

[Anonymous No.58650904]

>>58644061
Okay bro. Are you expecting us to try to convince you otherwise? How would we benefit from that?

[Anonymous No.58650905]

>>58643976
Shitcoins are ponzi schemes, because they are securities that make fraudulent claims about their futures in order to dump on investors. Bitcoin isn't a ponzi because 1) it isn't a security and 2) no one controls it. It's that simple.

People try to conflate bitcoin with shitcoins as a way of poisoning the well but the reality is that just about any security like stocks are more of a ponzi scheme than bitcoin.

[Anonymous No.58650985]

thats literally what money is and when we can no longer do the convincing on eachother the man with a silo full of salt will be a millionaire.

[Anonymous No.58651839]

>>58650985
No, money is a sense organ of the superorganism Economy, enabling it navigate the probabilistic hyperspace of resource allocation, when you fuck with money you don't just "get wealth" you cause the superorganism to get lost in higher dimensional space and become less productive. Oligarchs are literal parasites, they've made the superorganism sickly, BTC solves this by providing an incorruptible tally board, the only thing keeping us from using BTC as sole denominator is capitalization. Bitcoin is an inevitability.