/biz/ - Business & Finance

kek

>>25213520
bitcoin is a chink psyop to devalue the USD, hyperinflation wasn't working any other way

He's not wrong, you know

>>25213581
>bitcoin is devaluing the usd, not the usa printing trillions

>>25213520
I change my mind
I said there’s no point to owning Bitcoin because I didn’t get in early enough
Fuck that I think getting in anytime for a reasonable amount is a completely sensible idea

>>25213581
so what if you know the game then profit
everything is fucking rigged, no shit

He's right.
Seethe more bitcucks. I can't wait for you to lose everything.

>>25213520

>>25213581
or maybe the US was too slow to start mining before China, and we print money like no tomorrow?

>>25213520
>Peter Schit
You can't be this retarded unless you're a delusional boomer.

Paper money and our modern financial systems are outdated and not utilizing the digital infrastructure optimally.
Crypto currency uses the best technology we have for semi-instantaneous money transfers.
It takes 3-5 days for wired money to show up on my bank account. Crypto does that in 20mins tops. Almost instantly if you use certain cryptos.

The fact that this boomer thinks it's a Ponzi scheme already tells you he's stuck in the past.

>>25213746
Jesus fuck...what 9 years do that in a man's life? Is it 47-56? 51-60?

>>25213762
or maybe you're a chink

>>25213746
OH NO NO NO LOOK AT THE TOP OF HIS HEAD

>>25213679
What!? You don't want to buy high and sell low? ngmi

>>25213679
just dca m8
every week

>>25213581
Idiotic statement. The (((Centralbanks))) didn’t need any help in destroying the free world. If anything cryptoassets buck that power and subversion.

>>25213746
happening to me now. 42 in 2 weeks, skinhead cut for 10 years, now im growing it back and 1% white last time i had hair, has reached 95% white the first time i'm seeing it again in a decade. it is all over.

>>25213770
ironic because shitcoin actually has some of the more outdated boomer crypto tech

>>25213520
So funny to me that he's known of Bitcoin since it was in single digits and still doesnt get it

>>25213520
In 100 years bitcoin won't be remembered.
Does anyone remembers financial scams from the roaring 20s? No.

>>25214016
Relative to gold? Or paper currency?
Fuck no.
We're talking all cryptos. Crypto is here to stay.

>>25213520
someone's seething today

>>25213770
BTC is old as fuck

>>25213520
>buy gold for thousands a gram!
>the actual useful value for gold is like 1 or 2 dollars a gram but just buy it for thousands because its a tangible thing or something or another!
There are no fundamental differences between gold/silver and bitcoin.
The absolute bottom of bitcoin is $0.
The absolute bottom of gold/silver (buying for actual use) is a couple bucks.
Any value beyond either is pure speculation.

>>25214018
The ultimate FUD poster.

>>25214065
thank you whoever made this

He didn't reply to me on twitter when I asked about reviews regarding his investment firm.

Kek. Too busy shittweeting and being butthurt about twitter than address all the 1 star reviews his company gets for being awful at investing.

>>25214018
thank you whoever made this

>>25213827
He somehow gained hairline though

>>25213770
You can transfer gold certificates in like 5 minutes digitally, brainlet.

Even if you hate his views on bitcoin, his economics views are incredibly good. He constantly exposes the federal reserve.

>>25213679

BTC mcap is now $500 billion, which is 10x larger than that of Newmont, the largest gold miner in the world. Basically no upside potential left; it's like buying the top of the Tesla bubble at this point. It isn't going to replace currency. The Asian nations will demand gold after the reset, and BTC will sink to zero in terms of gold. If people want to speculate and make money, they should go to the junior mining stocks, especially the silver ones like Impact, Dolly Varden, and Bayhorse.

>>25213770

>Paper money and our modern financial systems are outdated and not utilizing the digital infrastructure optimally.

>Crypto currency uses the best technology we have for semi-instantaneous money transfers.

Bitcoin is worthless as a currency. It's unusable by more than 0.1% of the world population, even on the Lightning Network. In 2017, you had $100 fees and 3-day transaction times. We already have allocated gold-backed cryptos which really work for making transactions. Look into Kinesis. You get the best of both worlds, 24/7 payments outside the banking system and real intrinsic value backing it on a 1:1 ratio.

https://www.youtube.com/watch?v=5Q9aYYluRA0&ab_channel=KinesisMoney

>>25214198
>there are people on this very board who unironically don't see the difference between paper gold and bitcoin

>>25213959
t. ching chong

>>25213520
yeah i'm thinking this guy is priced out, his kids were probably the ones who spent 1700 btc on papa johns and he's been seething ever since

>>25214060
Whatever you say, Pete

>>25214232
>real intrinsic value backing it
you realize it only has value because we agree it has value right
intrinsic value is a fucking meme

>>25214232
>Bitcoin is worthless as a currency.
Good thing Bitcoin is not the only crypto currency in existence.

>Look into Kinesis. You get the best of both worlds, 24/7 payments outside the banking system and real intrinsic value backing it on a 1:1 ratio.
That's bad. This is a centralized coin.
That puts trust on whatever institution handles these cryptos, which, just like the US did in the 70's, can arbitrarily change their eternal promises.

>>25214222
This. Investors don't fully benefit from information by thinking in absolutes.

>>25214251
his kid is unironically based

>>25214198
uh oh looks like you're priced out too ^.^

HOLY FUCK GUYS I FUCKING TOLD U

>HE DOESN'T OWN BITCOIN
MY ASS THIS BOOMER IS THE ULTIMATE TROJAN AND IS GOING TO WIN US THE CRYPTO WAR

>>25214222
yes you're right about that. he understands things 99.999% of boomers don't, but he's incredibly dumb in all debates he had on bitcoin. search for them on youtube. but i'm getting more and more convinced he's larping to be the opposing voice that's secretly on bitcoin's side. he realized that bitcoin will actually achieve what gold possibly never could, because it's impossible to counterfeit or lie about its reserves.

>>25214344

>Good thing Bitcoin is not the only crypto currency in existence.

Doesn't matter, there is no coin that can solve the fundamental problem of crypto, which is that it is economic thin air. If the Asian nations with the real wealth and production don't take crypto after the reset--and they don't--then you have nothing. Russia and China will demand gold when the dollar dies, and BTC will instantly sink to zero when priced in gold.

>That's bad. This is a centralized coin.

There is no escaping centralization in crypto. It's the ultimate end-result.

1) If you go the way of BTC and hinder the block-size, it becomes unusable for transactions without centralized second-layer solutions which track and trace everything you do.

2) If you go the way of BCH or BSV, and keep raising the block-size, you eventually get only a few centralized hubs also. At that point, why wouldn't you simply go with a gold-backed crypto like Kinesis, which both represents intrinsic value), and does everything which BCH or BSV can do.

HOLY FUCK GUYS I FUCKING TOLD U

>HE DOESN'T OWN BITCOIN
MY ASS THIS BOOMER IS THE ULTIMATE TROJAN AND IS GOING TO WIN US THE CRYPTO WAR

>>25214222
yes you're right about that. he understands things 99.999% of boomers don't, but he's incredibly dumb in all debates he had on bitcoin. search for them on youtube. but i'm getting more and more convinced he's larping to be the opposing voice that's secretly on bitcoin's side. he realized that bitcoin will actually achieve what gold possibly never could, because it's impossible to counterfeit or lie about its reserves.

>>25214390
>never even had a job

Shots fired

>>25214222
Yeah he has based views on most things except btc

>>25214338

>you realize it only has value because we agree it has value right
>intrinsic value is a fucking meme

By intrinsic value I mean something which represents true economic value. Something which can be used to produce things which benefit the material wealth of society. Gold does that. If you have gold reserves, your country is objectively wealthy, has objectively stored its labour. Gold has a myriad of uses in ornament, industry, and medicine. The only reason why it doesn't get used more often is precisely because it is so valuable.

Russia and China and the other Asian nations are not going to be stupid enough to produce goods and services,--to sweat and toil--and then take a piece of thin air in payment for their labour. They have already suffered that under the dollar, they aren't going to do it again willingly. They have been secreting away gold for the past 10 years, and, when the time is right, they will reveal their gold-backed currencies, and both the dollar and crypto will go to zero.

>>25213520
Yeah, the history books will talk about the great con of 2100 , when bitcoin dropped from 60 million dollars to only 6 million.

>>25214232
Newmont is a company.
Bitcoin is not.

You dont compare bitcoin with a gold mining company, but with the gold this company mines.

>>25214534
and if he keeps ignoring his dad's advice, he most likely wont ever have to lol

>>25214390
I'm starting to think he's all in at this point.

>>25214452
>everyone's ignoring this

>>25214018
Fuckin saved.

lol Can't believe there are actual people out there taking investment advice from a sleazy, fly-by-night gold salesman. If you're a retard boomer, I get it. But young people that are internet savvy enough to navigate an antiquated polynesian shell art forum? Y'all should know better...

>>25214699
what the fuck does David Spade have to do with bitcoin?

>>25213520
Life itself is a ponzi scheme

>>25214742
haha

>>25214104
>11 years old
>old as fuck
Retarded zoomer with zero attention span and zero historical perspective detected.

>>25214759
That’s pretty enlightening. Life is a natural pyramid scheme.

>>25214018
>>25214452
schiff is the ultimate buy signal. I should really follow his twitter more closely
>>25214742
kekkk

>>25213746
>>25214189
>>25213827
I think he looks more distinguished. From an autistic middle aged guy with bad ideas to an old man who talks shit about things he doesn't understand but he's richer than most of the sub-35 year old neetoids and wagies talking shit about him so he doesn't have to give a shit what people who are over 25 and still in debt from university (or dropped out lol) have to say and think about him.

>>25214452
who is his neighbour?

>>25214608

Gold miners are a speculative investment, Bitcoin is a speculative investment. That is the correct comparison. Gold is money and a store of value. You put your gains into gold to preserve them. You don't do that with Bitcoin, which can collapse at any moment for any reason, and inevitably will collapse when fiat collapses.

>>25214702

Complete falsehood to describe Peter Schiff in this way. He started his gold company to help people. His clients kept getting scammed by numismatics and premiums, and he wanted to offer them bullion at spot price. He was telling people to buy gold at $200; price got to $1900 in 2011. He also made a fortune in mining stocks from 2001-2011, when the index alone (which includes bad miners and large caps) went up 1700%. He kept his clients out of the Dotcom Bubble and Housing Bubble, and has stuck to his Austrian principles all through this long bear market, despite the ridicule and disdain of shallow commentators like you. Correctly predicted that the Fed couldn't raise interest-rates, was proven right in late 2018. Only reason why he was wrong about Bitcoin is because the system (of which BTC is a beneficiary) should have collapsed long before now. Schiff never expected the bankers to go all the way and literally destroy the U. S. economy and the dollar, simply to prop all the bubbles up. But we are at the end of things now. His predictions from 2011 will now come true. Real yields on the ten-year are deeply negative and interest-rates can never go up again (as we saw in 2018). There is no coming back from the brink this time.

>>25214449
>If the Asian nations with the real wealth and production don't take crypto after the reset--and they don't--then you have nothing.
OHNONONONO!!
>https://www.financemagnates.com/cryptocurrency/news/chinas-digital-yuan-completed-20k-transactions-in-successful-weekend-trial/
This is only the beginning. China will have to trade with other countries. The world will not just drop the dollar and adopt a centralized crypto that is completely under the control of China.


>There is no escaping centralization in crypto. It's the ultimate end-result.
FUD
You obviously have not looked into other cryptos.
First to market != best in the market.

Since you have all the time to FUD here, maybe you can invest some time looking into other cryptos instead of limiting yourself to 2 outcomes.
Here is a good one imo, XMR:
>https://youtu.be/aC9Uu5BUxII

>>25214449
>why wouldn't you simply go with a gold-backed crypto like Kinesis, which both represents intrinsic value), and does everything which BCH or BSV can do
Bags getting heavy huh?
It’s not too late to buy bitcoin. Don’t be a retard, read the white paper

>>25214940

Silver junior mining stocks have vastly outperformed BTC this year, despite the fact that we are currently in tax-loss silly season and most are half of what they were in August. Look at Abraplata, Vangold, Klondike, to name only three examples. I was telling people here to buy Klondike and Vangold at the bottom.

>>25214896

XMR will never rise above being a niche currency. It doesn't even serve the purpose of privacy very well, since you ultimately have to cash it out into fiat. Gold is the ultimate privacy-coin, you simply exchange it from hand to hand. XMR could never become a universal currency because of all the problems I mentioned to do with block-sizes. >>25214449 You can store bullion in overseas vaults, so XMR doesn't even provide you a unique ability to escape from a country (for example). At a $2 billion mcap it's vastly overvalued; that's almost as much as First Majestic Silver, the purest mid-tier silver producer in the world.

>>25214879
>Complete falsehood to describe Peter Schiff in this way. He started his gold company to help people.
He didn't start his company to help people idiot, if he wanted to help people he'd start a charity. People start companies to make money. Period. Companies have marketing to lure suckers into buying their product which clearly worked in this case. You've consoomed too much marketing material which has you convinced that the entire economy is going to shit itself and your paper gold certificates are going to be worth gorillions! You're a sucker dude. You're buying boomer bags and rationalizing it. Sad!

>>25214245
great argument

>>25215080
Many such cases!

>>25213520
Peter Schiff is one of those people who I've just started to ignore as of late. Every time he has an interview with someone, he just shills gold and his business by proxy. He like Ron Paul with a profit motive. He never really provides any meaningful analysis.

>>25213520
Pronounced:
BITCONNEEEEEEEEEEEEEEEEEEEEEEEEEEED

>>25214860
He went from sleazy looking italian to gracefully aged old dude.

>>25215148
He gives good advice mixed in with hours of shilling. For example, stocks removed from the S and P are often good contrarian buys to store wealth, since they are usually replaced by Bubble meme stocks like TSLA with terrible P/E ratios and HYPE.

>>25214879
hard to hear you with all that dick in your mouth

>>25215265
>t. AIM bagholder

>>25214018

Oh NO NO NO NONONONO PUT DOWN THE HECKIN CORN. BUY MY GOLD! REEEEEEEEEE!

>>25215080

>He didn't start his company to help people idiot, if he wanted to help people he'd start a charity. People start companies to make money. Period.

False dichotomy. You can start a company both to make money and because you deeply believe in it. This is like saying that every author who ever sold a book only cared about making money. Milton only wrote Paradise Lost to make money. It's absurd.

>paper gold certificates

Bullion in gold-backed cryptos is not comprised of "certificates," it is fully audited and backs the crypto 1:1. You are thinking of GLD and SLV, which are unallocated.

Boomers are the ones who buy BTC. They don't have a clue about how completely useless it is, or anything about its controversial history, they simply see the number going up and hear the MSM talking about it all the time.

>>25214879
So basically he got lucky speculating the price of gold and now he's pissed because we're out here making the correct speculation on things that aren't gold?

>>25215488
and gold is just so INCREDIBLY useful isnt it?

>>25215515

>speculating the price of gold

He didn't "speculate" on the price of gold. He invested in it on the basis of fundamentals, and he was proven correct. Fundamentals are also why gold will go 16x after the reset (1:1 with the Dow) and BTC will sink to zero. Schiff invests for the ultimate result, not the short-term noise.

>>25214018
imagine being wrong for 10 years straight and still not learning

>>25215037
>It doesn't even serve the purpose of privacy very well, since you ultimately have to cash it out into fiat.
>He doesn't know how XMR works
>He doesn't know how to cash out anonymously
>He doesn't know about decentralized exchanges
Either way, it is built for long term survival. That's what matters.
Watch the video. It explains it all.

>Gold is the ultimate privacy-coin, you simply exchange it from hand to hand.
You can do that with XMR. All you need is the wallet you need to send it to, and guess what? You don't have to carry a bag of gold around.
Why do you think people switched to paper?

>XMR could never become a universal currency because of all the problems I mentioned to do with block-sizes.
Ohnononono!
Read about Monero more. The block size is dynamic. Why do you think I linked you that video? It's a presentation from the Monero community explaining their coin and how it is different than any Bitcoin flavor.

>You can store bullion in overseas vaults, so XMR doesn't even provide you a unique ability to escape from a country (for example).
What the fuck? With XMR, I can fly and escape anywhere and still have my money without needing to carry gold bricks around.

>>25213860
JUST

>>25213581
hello fellow schizo, good to see me again!

>>25215543
>Fundamentals are also why gold will go 16x after the reset (1:1 with the Dow) and BTC will sink to zero.
Yes, that's what the great reset is about. Pumping your worthless boomer retard faggot gold certificates and crashing the crypto, stock, currency and commodity markets. You, Peter Schiff, and some smelly divorced boomer coin collectors are going to be the new ultra wealthy aristocracy and everyone else is going to be seething unwashed depth grovelers with assets that are worth ZERO. That's exactly what's going to happen.

>>25214390
kek

>>25213520
It's a new paradigm, and everybody who doesn't buy, now, will be priced out forever. Anybody who does buy will be rewarded with a lifetime of riches, as their bitcoin will continue its 30% monthly price increase.

Nocoiners, and anybody born in a future generation, will not be able to afford a $10,000,000 satoshi in 15 years. They will live in tent cities, and Hondas.

This asset bubble is different than all of the others - it will never slow down, or pop. The gains are permanent.

>>25215763
How do you cash out 500k anonymously ?

>>25215763

>What the fuck? With XMR, I can fly and escape anywhere and still have my money without needing to carry gold bricks around.

The exact line which you quoted is the refutation to your statement. All I have to do is repeat myself. "You can store bullion in overseas vaults, so XMR doesn't even provide you a unique ability to escape from a country." So far as fleeing a country is concerned, there is no practical difference between holding your money in Kinesis and holding it in XMR.

>Read about Monero more. The block size is dynamic. Why do you think I linked you that video? It's a presentation from the Monero community explaining their coin and how it is different than any Bitcoin flavor.

I don't think you understand the enormous memory-size which would be requisite to make any crypto into a global currency. There simply isn't any solution to the problem which would possibly work. For reference, only 0.1% of the world-population could make use of BTC even on the LN before it would break down. Then we see that BSV, which has raised the block-size considerably, is already extremely centralized, and that could barely service a fraction of the world-population too. It is simply impossible for any crypto to take over a role as currency.

Again, you are ignoring the fact that crypto has no purpose in a post-fiat world. No nation-state will exchange its goods and services in exchange for Monero. Monero goes to zero when fiat does, along with all the tether-printing and bubbles and speculation.

>>25216172

So far as poetic justice is concerned, people who invest in gold and silver are some of the kindest and best people I have ever met or known of. They will deserve everything they get for their saint-like patience over the past nine years. Contrary thing is true of crypto, especially of BTC maximalists. Bitcoin is a moonboy cult.

>>25214018
fkn saved

>>25213581
The dollar has been steadily losing value since the federal reserve was established, you dumb nigger.

>>25214390
Lmao. He probably took away his son's gameboy after this poll.

>>25216282
>Then we see that BSV, which has raised the block-size considerably, is already extremely centralized, and that could barely service a fraction of the world-population too
what makes you say bsv cant serve the world population? they have done 15tx/second on mainnet, 10x visas current throughput. also theyre aiming for gigabyte blocks in 2021 so that will be 50 times higher than that

>>25216702
BSV is a scam you fucking retard. You didn't cash out last year? lmao

>>25216702

Let's take what you say at face value. BSV is already centralized. One entity controls most of the hash. It's Calvin's pet project. So Kinesis and other gold-backed cryptos do everything which BSV does, except that you have intrinsic value backing the coins. _And_ gold-backed cryptos are more decentralized, since you can use different cryptos and different vaults around the world.

>>25216702
yet btc with 1mb blocks can do more tx/sec a few million times than sv with gigabyte blocks.

>>25216702
fact checking myself.
biggest block was 635141, 369mb with 1.3 million txs in 9 minutes. 2.5k tx/s. visa is 1.7k tx/s.
still 150% visa's throughput. 3 gb blocks will 13 million txs, so that will be 1500% visa's current capacity.
https://whatsonchain.com/block-height/635141

>>25216961
they are capped at 3500 transactions per block. which is why you will see 100$ tx fees by the end of 2021. will normies open a lightning channel for $100, with a chance of losing funds? that is not 10x better than the traditional banking user experience, in my opinion.

>>25217026
you can't lose funds in a lightning payment channel if you are paying.
only those that would receive have downtime risk you fucking retard. and merchants and payment providers can easily have the infrastructure for this. so it's a complete non-issue.

>>25213827
wypipo have terrible genetics

>>25217602
that's a jew m8

>>25213827
he looks much better you absolute ignoramus, from a creepy middle aged guy to a handsome old guy
hairline is important, as is facial hair
same transformation as middle aged Biden to current Biden, he looked quite creepy and now he looks like a handsome old man

>>25216270
Find a buyer, or go on a decentralized exchange.
>https://localmonero.co/

>>25216282
No, you will need to spend that gold or convert it somehow but it's in a physical place, and you need to get that gold to those vaults first as well.

>So far as fleeing a country is concerned, there is no practical difference between holding your money in Kinesis and holding it in XMR.
There is. Centralized coins means that it is under the jurisdiction of one country. Say bye bye to your Kinesis if the governments seizes the gold backing it up.

>I don't think you understand the enormous memory-size which would be requisite to make any crypto into a global currency.
Ah, yes. Because we've reached peak efficiency already.
The video explains how they are tackling this.
>https://youtu.be/aC9Uu5BUxII?t=2381

They even explain how they purposely made their algorithm anti-ASIC, preventing data centers from taking over.
There are pruned nodes and also full nodes. Pruned nodes are usually less than a 100GB and they keep improving the bytes/transaction.
This gives the average Joe the ability to mine.
This makes data centers ability to control the supply moot as anyone can mine.
Worst case scenario, they would have to be supported by the community, and if we assume global demand, there is a global incentive.

Again, stop fudding and watch the video if you honestly care to know.
You're just asking me stuff the video answered better than I can do here.

>Again, you are ignoring the fact that crypto has no purpose in a post-fiat world. No nation-state will exchange its goods and services in exchange for Monero.
In a post-fiat world, will there even be nation-states, if we can even still call them that today?
I don't even care if it is Monero that wins the game. It is just an example of a different coin that actual tackles all the problems you listed.
Some other coin might take bitcoin's place, I don't care.
You're just assuming a problem in Bitcoin exists in all coins regardless.

>>25218371
>Worst case scenario, they would have to be supported by the community, and if we assume global demand, there is a global incentive.
Worst case scenario for the full node size, that is.

>>25213520
Bitcoin is a greater idiot ponzi scheme. Like all investments.

>>25215533
>digits
>33
>gold ohm
Holy fuck, he’s here and he’s spoken..gold is the standard all along.