[ 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: 134 KB, 1532x1581, bobo.jpg [View same] [iqdb] [saucenao] [google]
28596426 No.28596426 [Reply] [Original]

BTC is not a currency. It does not meet the test of a currency. I wouldn't be surprised if it's not around in 10 or 20 years. It is not a durable means of exchange, it's not a store of value. It's been a very speculative kind of Buck Rogers-type thing and people buy and sell them because they hope they go up or down just like they did with tulip bulbs a long time ago. Yes, the price may still go higher, as these sorts of speculative bubbles tend to do, but eventually these speculators are going to have a very bad ending.

>> No.28596479

>>28596426
Thanks for the input

>> No.28596492

>>28596426
Just how much did you lose to post a cope like this?

>> No.28596522

>>28596426
It's deflationary bobo! You will regret your lack of intelligence!

>> No.28596535

>>28596426
You underestimate peoples stupidity

>> No.28596548
File: 238 KB, 625x657, 1602483915382.png [View same] [iqdb] [saucenao] [google]
28596548

>>28596426
okay sell then

>> No.28596549

>>28596492
Nothing. I invest instead of speculate.

>> No.28596591
File: 22 KB, 360x360, 1601924150802.jpg [View same] [iqdb] [saucenao] [google]
28596591

I agree. I market sold my speculative assets for solid investments like GS and JPM.

>> No.28596592

>>28596549
post your folio nigger

>> No.28596715
File: 114 KB, 1000x1000, pepe-bobo-smug.png [View same] [iqdb] [saucenao] [google]
28596715

>>28596535
I guess so. A rising price does create more buyers and people think "I've gotta get in on this." I guess if you don't understand it you get much more excited than if you understand it.

>> No.28596722

what will the consequence be of the new digital euro they're working on?
will BTC be doomed if the dollar and euro digitalize?

>> No.28596777

>>28596722
Digitalizing garbage doesn't change the fact it's still garbage.

>> No.28596834

>>28596591
Smart move. At least you're investing in something that is actually productive and has some intrinsic value, a company.

>> No.28596844
File: 72 KB, 800x1024, 1603978222296.jpg [View same] [iqdb] [saucenao] [google]
28596844

>>28596549
>I invest instead of speculate.

>> No.28596928

>>28596722
How aren't they already digitized
Go online, buy something. No physical asset ever existed. Unless it's decentrliazes blockchain it won't matter. But the decentralisation is only good for preventing inflation. The privacy shit is all a meme and all the shit they build around it is garbage.

>> No.28596975
File: 28 KB, 663x485, 1532685229011.jpg [View same] [iqdb] [saucenao] [google]
28596975

>>28596722
A digital euro would be pretty similar to a euro in terms of being backed by a country. Now people can say fiat is worthless, but, the value of fiat is not derived from the currency itself, which is what bitcoin and other cryptos claim. Nevertheless, you're going to be a lot better off owning productive assets over the next 50 years than you will be owning pieces of paper or Bitcoin.

>> No.28597151

>>28596722
As a currency bitcoin is rubbish but its not really used as a currency, more like a store of value / hedge against inflation, so digital dollars and euros wont affect it
No one will want to hold digital fiat because it depreciates just like normal currency, in fact they will probably code it to be inflationary

>> No.28597373

>>28597151
the only thing keeping it as a store of value is its brand, because it has no competitive moat.

>> No.28597623
File: 79 KB, 774x768, 1604938918990.jpg [View same] [iqdb] [saucenao] [google]
28597623

>>28596426


>ITT: Stockfags coping that their shit stocks are being regulated by their corrupt overlords if they make anything above 5% Monthly gains while coiners can turn 5k into a million in a month


Kys

>> No.28597736

>>28596722
Consequences are 0. FIAT is already digitalized. I can go my whole life without ever touching a bank note.

>> No.28597845

>>28596426
they have been saying that for the last 10 years

>> No.28597926

>>28597623
we've had plenty of speculative bubbles in stocks too, in fact it's going on right now. Like these speculative bubbles in stocks, only worse because crypto has zero intrinsic value. Speculative bubbles will feed on itself for a while and sometimes for a long while and sometimes to extraordinary numbers. But they come to bad endings and cryptocurrencies will come to bad endings