The BTC ponzi already failed

[Anonymous No.17949959]

When the crisis started, BTC behaved exactly like any healthy market should've: it crashed hard. It reacted according to an external stimulus. Problem is that it stopped doing that and the market started now acting schizophrenic which is basically pure chaos.

BTC dumps are destructive and fast (50%) because there is no liquidity in these markets (it never was liquid to begin with), but during major financial crisis NO ONE is looking at markets that look like broken casinos. Everyone knows that the house isn't winning and at the same time their only customers are a bunch of broken people doing revenge trading. Crypto market is at a really unstable place right now and complex systems with high entropy always fail, that's just a fact of nature.

What's the move? I'd say long until the final black swan reveals itself or simply stay away and never FOMO. After that event, short and PREY that you'd be able to cash out in the end, because this crash will be 100x times worse than the one from 20k down to 3k. Bitcoin outed itself as a casino and the house is about to go bankrupt.

[Anonymous No.17950032]

more like major financial investors wanted to de-risk and they all sold their BTC
people wanted big money in crypto, well, this is what happens when market uncertainty on a global scale shows up; big money gets the fuck out and into cash

[Anonymous No.17950074]

>>17949959
Bitcoin's living in your mind, rent free, faggot. Good luck downplaying the unconscious desires of people obsessed with voluntary exchange, get rekt. WORLD RESERVE CURRENCY BY 2030

[Anonymous No.17950143]

>>17949959
Lmfao, delusional vrigin stay poor

[Anonymous No.17950170]

>>17950074
I'm well aware of the psychological warfare behind the complete shitshow that crypto is, but counting on it during heavy market turmoils is simply naive. The state of this toy markets is literally a car dealer selling used cars to poor people without the financials to feed themselves. Bitcoin solves literally zero economic problems, it just creates them, one after another, that's why you have 5000 shitcoins that do jack shit valued at stupid high numbers.

[Anonymous No.17950186]

>>17950032
We're just still in a bullrun.

[Anonymous No.17950217]

>>17949959
>all this bear cope

[Anonymous No.17950220]

>>17949959
BTC is a bubble, not a ponzi.
A ponzi is an actual fraud, with its organisers shuffling money around to fool people into thinking it's profitable.
A bubble is where the short term value is dominated by people's FOMO, and there's very little long term value - or in the case of BTC, none at all!

[Anonymous No.17950247]

>>17950170
I was originally just shitposting. You're laughably ignorant of Bitcoin and how money works. The telephone was a toy that was laughed at, until it was realized that the network of people you can call with expands and the device becomes more useful.

Bitcoin literally solves the age-old economic issue of the ethics of money production, retard. You literally cannot see how glorious and amazing the golden age Bitcoin will imitate is: everyone will have to work for an honest living, governments can't just go into debt and print money any more. This is a world changing technology, and you lack the depth of understanding of socioeconomics, history, and technology to witness this shit.

If only you could see, anon. But since you can't get the fuck outta here and never EVER buy Bitcoin. You don't deserve it.

[Anonymous No.17950252]

I missed nocoiner cope threads.

[Anonymous No.17950337]

>>17949959
we develop a new currency, right here, right now
join the discord, I'd like to talk
/3zzkwk

[Anonymous No.17950364]

>>17949959
there was a global margin call, a lot of the big players had to raise cash at all costs so every asset got shaking out
due to cryptos relative small and new market the shake out was fast, expect an upbound trajectory from here
the fomo is going to be huge when the articles start reading btc first asset to regain precrash highs and continues to rise

[Anonymous No.17950383]

>>17949959
Wow Yakuza really started bitcoin?

[Anonymous No.17950392]

>>17950247
>Bitcoin literally solves the age-old economic issue of the ethics of money production, retard

Bitcoin only solves a technical problem related to computer science but its economic implications are just emergent, not fundamental. You are clearly so emotionally invested that you won't even address the fact that 99,9% of current cryptos are scams. Good luck with that line of thought.

[Anonymous No.17950403]

>>17950392
Everything that is not Bitcoin is a scam not even worth acknowledging the existence of.

[Anonymous No.17950419]

OP is trolling and doesn't really believe that

[Anonymous No.17950422]

>>17950403
Notice how I did not mention crypto in any of my posts? Bitcoin is the only thing that matters. It is a zero to one innovation.

[Anonymous No.17950447]

>>17950247
> T. Guy who knows nothing about monetary policy
> Buy gookcoin!

[Anonymous No.17950475]

>>17950447
>t. dude who has studied austrian economics for eight years
>"Bitcoin is the holy grail. Ignore everything else"
>.t. some anon who doesn't see the breakthrough
>"Nah, you don't know what you're talkin' about."

[Anonymous No.17950479]

>>17950422
Bitcoin is nothing more than crypto.

And if you think it solves the economic issue of the ethics of money production, you clearly don't understand the issue at all.
Fiat is better in every way!

[Anonymous No.17950505]

>>17950479
Fiat has fucked up and perverted everything about money. If you knew even a little bit about money production, you'd see this truth. Read a book on the subject sometime, nigger.
https://mises.org/library/ethics-money-production

[Anonymous No.17950526]

>>17950475
> Austrian economics
I'll stop you right there pal

[Anonymous No.17950536]

>>17950422
That's a roughly 70 Billion marketcap you are choosing to ignore. Wether you like it or not, the BTC database is infinitely replicable and there is nothing you can do about that.

[Anonymous No.17950539]

>>17949959
Im convinced this is literally the Biblical apocalypse. People are going to be going through an absolute mental manifestation of hell trying to figure out what the fuck their entire lives have been built upon, and where to put their money. Or better yet, what money IS. This entire world has been jewed into retardation. I think some of us have already been through a personal hell, call it a rapture, and i think its all happened for a reason. It really blows my mind at times, i wonder if this can really be the world were living in.
Think about it. Our entire society has been brainwashed by a pedophilic satanic death cult that has enslaved humanity through economic subversion, and the slaves have been convinced that theyre just not good enough to understand it.
Thats whats going on.
Thats where were at.

Jesus saves.
>>17949959
See you on the other side OP

[Anonymous No.17950543]

>>17950526
Dirty, filthy Keynesian. /biz/ was created to contain Dogecoin, Bitcoin, and PND Pandacoin threads. Never forget, you fucking retard.

[Anonymous No.17950550]

>>17950475
As Austrian economics is based on false assumptions and non sequiters, the anon who doesn't see the breakthrough still knows far more about it than you.

Austrian economists are so dumb they don't even know the difference between inflation and an increase in the money supply!

[Anonymous No.17950558]

>>17950543
/Biz/ is a bunch of retarded fucking losers. No wonder they're all obsessed with bitcoin.

[Anonymous No.17950560]

>>17949959
>BTC dumps are destructive and fast (50%) because there is no liquidity in these markets

BitMEX's liquidation engine rekt some market makers unfortunately.

https://twitter.com/CL207/status/1240650234675396609

FTX seems to be the new liquidity king after BitMEX self-pwned themselves.

https://twitter.com/CL207/status/1240626477910994945

[Anonymous No.17950579]

>>17949959
read your post and it literally evaporated all the testosterone in my body. now im gay.
thanks obama.

[Anonymous No.17950596]

>>17950536
Those coins are all scams. I don't give a fuck about market cap, it is a shitty measurement. Yes the Bitcoin UTXO set is replicable, but it only has the value it does because of the security and history of the protocol.

>>17950558
Makes sense considering you're here, retard. You've known about Bitcoin for how long and you're not retired yet?

>>17950550
>the anon who doesn't see the breakthrough still knows far more about it than you.
You're full of shit. Knowing a bunch of bullshit doesn't give you insight into real organic economics, in fact it makes you less able to see them. You're too dumb to see that any change in a money supply is ALWAYS a bad thing because it distorts natural prices.

[Anonymous No.17950647]

>>17950596
You're too dumb to see that "natural" prices are neither good nor even natural.

[Anonymous No.17950649]

>>17949959
Thanks just sold 100k

[Anonymous No.17950658]

>>17950560
>https://twitter.com/CL207/status/1240626477910994945

FTX is a really interesting case because they are offering these weird self leveraged tokens, which are kinda fucked up because the allow you to do margin trading instantly, without the classical hassle. It could easily be the last big thing in crypto until, of course, it finally crashes it to oblivion without survivors. Imagine crashing a market composed of pure margin traders lmao

[Anonymous No.17950701]

>>17950647
Yeah, because free markets are dumb and central planners are so, so smart.
Natural prices are the emergent result of highly complicated unconscious economic calculation, actions, and subjective desires objectively communicated via prices. When you grow or shrink the money supply, you fuck it all up, and the wrong skills and resources and goods are allocated and produced, leading to malinvestment.

Natural prices are highly intelligent, free markets are highly complicated machines that take in all this information and direct human action.

When are natural prices NOT a good thing? It reveals what is in demand and what the market values something at.

[Anonymous No.17950725]

>>17950658
Aren't they offering those tokens because regular boomer market offers similar ones?

[Anonymous No.17950754]

>>17950725
Example?

[Anonymous No.17950782]

>>17950754
The 3x leverage etfs and shit, idk.

[Anonymous No.17950858]

>>17950782
Yeah, that's why I'm expecting OP to elaborate more on these things. Sound good on paper, but I think they are only worth for short term bets and that's it.

[Anonymous No.17950932]

>>17950858
Holy shit wrong thread lmao

I was refering to this one: >>17950498

[Anonymous No.17951122]

>>17950596
I've only came to /biz/ since the whole beervirus started to see what kind of plays you guys are making. Apparently not much. I'm also 20 so retirement is still far away.

[Anonymous No.17951163]

>>17951122
I'm 27 and retired last Friday, I literally only bought Bitcoin eight of the ten years I worked. There's not much else to it than that.

[Anonymous No.17951196]

>>17950701
there is no such thing as a "natural price". everything else you wrote is so logically and philosophically naive too, you don't see basic problems with your line of thought

[Anonymous No.17951230]

>>17951163
Sure. I spin silk into gold. I retired 500 years ago. Top that.

[Anonymous No.17951241]

>>17951196
>there is no such thing as a "natural price"
What do you call it when governments or cartels sets prices of things, in that case, as opposed the price being discovered on its own without their intervention? Why is it a bad thing when governments and cartels DON'T intervene and set a price artificially?
Everything I described is Austrian Economics.

[Anonymous No.17951256]

>>17951230
Except I mined in the first epoch, before Slush's pool, and I invested in the first ASIC manufacturing company: ASICMINER, and you're obviously a liar.
I'm flattered you think my story is false.

[Anonymous No.17951288]

1) decentralized
2) trustless
3) borderless (portable)
4) counterfeit proof
5) highly divisible
6) censorship-resistant
7) sits outside of legacy financial structures (which carry huge systemic risks at this point of the cycle)
8) always accessible (you control the keys , no counterparty)

[Anonymous No.17951296]

>>17951256
Let's see a bank account with a time stamp and i'll eat my hat.

[Anonymous No.17951388]

>>17951296
A cryptographic timestamp is better proof than a bank account I can easily change the markup of, but sadly for you I don't share which addresses are mine since that would defeat the purpose of coinjoining my UTXO.

So that must mean I'm making it all up, because you'd reject a screenshot of my mining withdraws from October 2012 because even that is easy to fake.

[Anonymous No.17951424]

>>17951388
Right. My hat remains where it is.

[Anonymous No.17951443]

>>17951288
>infinitely replicable state

[Anonymous No.17951456]

>>17951424
Keep your hat, fag. And don't buy Bitcoin.

[Anonymous No.17951613]

>>17950364
> the fomo is going to be huge when the articles start reading btc first asset to regain precrash highs and continues to rise

This won't take long

[Anonymous No.17951890]

>>17950701
>Yeah, because free markets are dumb and central planners are so, so smart.
Free markets are not dumb, but they are not perfect. For a start, they are inherently biased towards the short term. Those participating in the markets often don't do so on equal terms, and what's in the interests of the participants at the time isn't always what's in the public interest.

Central planning is NOT a substitute for markets. But it enables provision to be made for future needs, which markets don't do at all well.

And importantly, the advantages of markets still hold when the government participates in them.

When control of the money supply is left to the private sector, the money supply expands and contracts chaotically, Rapid expansions can be highly inflationary, but contractions are much worse, resulting in widespread unemployment and declining production. Government intervention can solve these problems - indeed it can usually avoid them in the first place.

[Anonymous No.17952531]

>>17949959
>When the crisis started, BTC behaved exactly like any healthy market should've: it crashed hard. It reacted according to an external stimulus. Problem is that it stopped doing that and the market started now acting schizophrenic which is basically pure chaos.

Bitcoin is acting reasonably , the world corona and oil shock is extremly deflationary, people fled to fiat thus btc price relative to fiat fell.

Then you have government announcing inflationary stuff and the price rice.

I don't get why this is irrationally or unhealthy.

[Anonymous No.17952646]

>>17951890
>For a start, they are inherently biased towards the short term
People are biased for the short term because of non-deflationary currency, the current monetary policy punishes long term thinking and incentivizes people go into debt and invest in stocks to preserve their wealth and chase yield. Inflationary, debt-based money is to blame here: people have a financial incentive to go into debt and spend because debts become lighter as time goes on, because the currency they're debt is based in is devalued by the expansion of the money supply. Every time a loan is made, the supply is expanded.

>When control of the money supply is left to the private sector, the money supply expands and contracts chaotically
Bitcoin fixes this with its scheduled release and controlled supply. Currency should ideally not inflate or deflate, as to avoid as many price distortions as possible, to avoid malinvestment and waste.

[Anonymous No.17952659]

>>17952236

[Anonymous No.17953232]

>>17951443
>copypasting the hashrate

[Anonymous No.17954544]

>>17953232
Why would you need to have the same hashrate? It doesn't even make sense

[Anonymous No.17954811]

>>17950539
The world that nikola tezla speaks of is literally impossible without infinite resources/land.

[Anonymous No.17954836]

>>17951288
Based

[Anonymous No.17954840]

Bump

[Anonymous No.17954865]

>>17951241
guys when we stop valuing things in $ how will we figure out how many satoshis a big mac is worth???

[Anonymous No.17955451]

>>17954811
>The world that nikola tezla speaks of is literally impossible without infinite resources/land.

He was going to make electricity damned near free with his Wardenclyffe Tower project.

[Anonymous No.17956567]

>>17952646
You've got it backwards. The main reason people are biased for the short term is that they have limited credit; they can't afford to make the long term decisions that would eventually lead to the best outcome.

[Anonymous No.17956725]

>>17952646
>Every time a loan is made, the supply is expanded.
Yes, and that's generally not a problem because of improving technology. Automation is highly deflationary, so the money supply needs to be continually expanded so as to avoid widespread unemployment.

> Bitcoin fixes this with its scheduled release and controlled supply.
That's not a fix. If Bitcoin were used for business, the effective supply would quickly be increased by borrowing it. Furthermore, if that somehow didn't happen and remained as it is now, it would cause even bigger problems. It doesn't react to events, and the supply increases far more slowly than an economy would need.

The austrian obsession with avoiding malinvestment is equally stupid. Everyone wants to avoid bad investments, of course, but limiting the total amount of investment doesn't prevent bad investments being made. Indeed it's more likely to turn the good investments bad due to unnecessarily high interest rates.

Meanwhile the austrians are blind to the waste of the economic devastation that their favoured policies cause.

[Anonymous No.17956891]

Bitcoin is a failed experiment whose value is being propped up by a fraud called Tether. Once it collapses, it will be glorious and my personal favourite thing to do will be to visit all the btc obituaries and read the last, final, real one.

[Anonymous No.17956909]

>>17956891
On that note: CZ says he is defending btc’s value to his last penny, which means the exchanges are now stupidly burning their own funds to keep it alive.