Amazon just bought Whole Foods for 13.7 billion. A physical grocery store with locations everywhere catering to yuppies and hipsters.
Yet somehow crypto is worth more than a giant food chain? Even XRP for godsake has a 10 billion market cap, which should be nowhere close to the value of something like Whole Foods.
What more proof do you need that we are in a bubble?
theres already several threads about this
Profit margins in grocery are 1%, dude.
cant wait for whole foods delivery
so i never have to go to their grocery store again
and can just order it all on amazon
Yeah I sincerely doubt Whole Foods profits are 1%
>What more proof do you need that we are in a bubble?
If you know how to evaluate companies, you would see that wholefoods is indeed a grab for 13 bil.
What's your point? Why is Etherium worth more than twice Whole Foods right now? Makes no sense
Amazon itself thrives on basically summing up it's balance to zero, spending every penny they get to increase its stock value and stakes; direct wealth accumulation is not the game anymore
You're comparing a currency and platform against a traditional company Lmao.
>acting like crypto is actually a currency and not a company
You are retarded if you think crypto actually serves as a currency right now
It serves as a secure way (for now) to store value and transfer it between borders without issue
>Makes no sense
It makes no sense for you.
For me it makes no sense to life on credit cards and only pay the interest like many americans did in the past decades. But many still do this.
Or getting scammed - makes no sense but people still fall for the most simple scams.
No, seriously - the acquisition itself might sound expensive and it surely is in absolute terms. But considering how big wholefoods is, on how much liquidity and profit amazon is sitting, amazon literally has little to no alternative to become more competitive in a market they already pressurized for years.
It doesn't store value at all, that's my point. Its completely unstable on a day to day basis, therefore not a real currency. Has a long way to go before that
It's only proof that Bezos is still bent on world domination
Market Cap in crypto is one of the most idiotic measurements in the financial world.
I'm saying that if Whole Foods is worth 13.7 then why is Ripple worth 10?
Market cap might be billions but only like 10% of that was directly paid for the coins.
if i offer you 100 bitcoin for your car, would you accept?
:^)
This. This shit sounds more like a pet project for a liberal billionaire.
But I wouldn't be surprised if they start offering Amazon Food Delivery by Whole Foods using WF employees to deliver groceries to people's houses. Wal-Mart is going to start doing that in a few places soon. That's the future. People getting too lazy to even go to grocery store.
whole foods likely has a higher profit margin, and this is coming from someone who used to be a manager in the grocery industry
It's a little more than that, but not much. Depends on the company, the area, etc. I was a mid-manager at a Kroger where 40%+ of revenue came from EBT.
You also have gas and pharmacy and other services at many of the places, including Kroger. Kroger pharmacies can make tens of thousands per week. Gas can too, especially during Summer.
Like everyone else here, I have a lambo, so no. :P
What's his end game?
Because buyers are prepared to pay a price for XRP that puts the over all coin cap at 10 billion. What are these retarded babby questions?
>I'm saying that if Whole Foods is worth 13.7 then why is Ripple worth 10?
Relax. All cryptos right now are far away from beeing able to be used as currency, yes.
But there is also a technology behind all of these coins and therefore it is more of a stock of a company than a currency. Ripple especially is for banks, so they are interested in this.
There is interest in this shit, so it gets bought. And as interest is volatile, we have an unstable price.
President of the Moon
He's going to phase out employees at Whole Foods.
Remember this?
youtube.com
It all makes sense now.
better link: youtube.com
Missing the point. If my car is worth a certain amount in USD then not factoring depreciation my car will be more or less worth the same amount of USD over time. You can count on it.
You might have to offer me 1 or 10 btc or 50 btc over that same period of time to match up with the stable USD value. So how is this a currency?
I totally agree, I was taking about the guy saying that crypto is a currency and not a company. Crypto clearly is a company just like Whole Foods.
>has never heard of the market acting irrationally
>missing the point that we are in a crypto bubble
Might change tough. Some coins indeed will have the ability to get currency, as soon as the market is saturated. So in about 2, 3 years we are to see the first actual use of them
>then not factoring depreciation
lmao
>w-well if you ignore the key factor which undermines my entire point, I'm correct!
never change, Veeky Forumstards
Everyone knows market cap does not translate to actual value, op. Don't be so dumb.
profit margin of 1% is accurate, after theft, food spoilage, damage, payroll, building rent, power, education/adaptation, repairs, upgrades.
Most people call it false, but they forget when a store offers a sale to undercut everyone else, it is a complete loss to the store. Like soda, milk, eggs, staples like that. They have to maintain the prices of other foods to make up for it, and the goal is always to do better than 1% but its pretty hard. Food spoilage and waste due to damage is high, and probably 40% of products are always negative profit.
To become a real life Lex Luthor
Apply the same analogy to milk or eggs and it stands. Seriously you are a moron. I only used car in the example because the other guy brought it up. Also the depreciation of an asset like a car is independent of the currency because it literally degrades in quality, with USD you can actually measure the depreciation because it is stable. Trying measuring it with ether instead.
It does if the companies are quality and you aren't in a bubble then it isn't a bad measure, hence the whole point of this thread.
Now that you're up to speed do you have a real critique?
Don't forget the 100$+ of beer stolen daily.
They sold Whole Foods for a bunch of pieces of paper backed by a bank. What is currency
>with USD you can actually measure the depreciation because it is stable
jesus christ lol
also more volatility in the short term doesn't suddenly invalidate something as a currency
are you literally 16 years old
fuck man who am i even talking to right now
>Buys company with pieces of paper that have no value outside of its parent country
>Calls a borderless peer-to-peer monetization system a bubble.
When will the boomers die off?
Dude seriously... Are you smoking crack? Instead of repeating that you are laughing out loud over and over how about explaining how crypto is actually a currency.
A gallon of milk is basically 3 bucks over the course of years. A gallon of milk might be 0.01 or 0.001 or 0.0001 over the course of years. Literally order of magnitude differences.
You are the idiot
>a gallon of milk is basically 3 bucks over the course of years
Tell that to Venezuela
god damn it I would've preferred Trader Joes frozen meals delivered to my door
Instead of looking for ways to dodge the point by bringing up a 3rd world shithole how about you base your argument on the US economy which is what we're talking about.
And honestly if all our goods were priced relative to something unsteady lik bitcoin then we would be a lot like Venezuela
>A gallon of milk is basically 3 bucks over the course of years
lmao
"basically"
nice wiggle words lil buddy
milk was $1.50 in '75 and $0.75 in the late 40's early 50's
>stop posting that ur loling
no, you are foolish and don't appear to understand what currency is
So you are telling me that a gallon of milk has tripled in price over 60 years in USD? That's pretty goddamn great performance.
Do this same mental exercise with ether and tell me how much it would cost. How does somebody calculate how much ether they need to pay their rent and groceries every month?
I agree that crypto is the future but you can't beat me on this point. It is not even close to being something people can rely on as a currency
Because investors have reasons to expect ripple to have a share of the pie in crypto (potentially) replacing the entire trillions of dollars industry that are financial services.
Whole foods can't scale for shit, it can at max, what, double? Ripple (or eth or whatever other crypto with huge companies behind it) could still literally grow 100x.
You are a fucking retard.
>if we disregard appreciation, depreciation, inflation, deflation or general changes in pricing of goods due to millions of real life factors, than prices are stable!
Pls be real
I won't.
The reason why booze and beer are typically so high is because of the 10% theft loss and that is just in the less theft areas.
If your mortgage was set at 1 btc a month would you feel comfortable with your ability to pay it? Better hope it doesn't grow 10x later this year and instead crashes .
Now imagine your mortgage is set at 2000 USD.
How much simpler can I make it? You are trading a share in stock everytime you buy something with crypto. It is not a currency right now. Goddamn
But your mortgage doesn't have to be set to 1 btc. It could be payable as either $2000 or the current btc equivalent of $2000
So your admit your mortgage should be priced relative to a stable currency like the dollar?
Good, glad we can finally stop this argument
I mean I also think your mortgage could just as easily be payable in the the $2000 equivalent of swiss francs or any other random currency. The primary reference for value should be a stablecoin like the USD, it doesn't mean everything else isn't a valid currency
Agreed, it just means that I'm extremely unlikely to use an unstable crypto the same way I would use the swiss franc. You treat it more like a stock and hold it hoping it grows significantly in value. The last thing a sane person would want to do is use it to pay for their weekly expenses
Crypto is money, Whole Foods is a failed grocery store. Theres a big difference.
Here I thought it was going to be a discussion about AMazon buying out their competition and attaining a monopoly on pretty much everything, yet it has to link back to crypto no matter how ludicrous it is.
>It is not even close to being something people can rely on as a currency
>to being something people can rely on
more wiggle words and goalpost moving
come on lad
Walmart has a better selection than whole foods
Yeah not really. You still continue to miss the point of how buying things works
...
>comparing a failed grocery store to blockchain tech
top keks OP
>Those tattoos on her chest
Bunch of guys vomiting uncontrollably.jpg
women dont make good decisions
thank god for that tthough, its the only way i manage to get laid
Walmart destroys economies.
You do understand that fiat is printed like it's monopoly money right?
Crypto has either a fixed circulation, or predictable inflation (usually zero in real terms due to lost keys, etc). Therefore crypto will always increase relative to fiat, unless we go back to using the gold standard and not inflating fiat into oblivion.
Check this out: bankofengland.co.uk
£1 in 1956, would be worth £22.91 in 2016. In order words, the purchasing power of £1 has decreased by a factor of 23 in the past 50 years. Something that costs £23 today, would have only cost £1 fifty years ago.
Really makes you think huh?
You went back to 1956 to find a 20x difference.
Ok, now go back to February of this year and tell me what factor crypto changed by. Look I get the point that crypto has big logical advantages, that's obvious and it may over take fiat some day in assigning a price to goods. But we aren't even close to that point yet and to say otherwise is deluding yourself
>fixed circulation or predictable inflation
LOL.
crypto and predictable don't belong in the same sentence. there is the idea of a cryptocurrency which maybe in 10, 15 years will be viable, but then there are the people (likely the exact same people who regulate fiat) who will turn it into a shitshow that people understand even less than they do now.
"but inflation rates!" is the dumbest argument you can make for crypto. its utility is its efficiency for transactions. you want everyone to start using it, and 99% of everyone thinks inflation is either good or amusing, relative to their income.
>Black people start going to WF
>Well FUCK IT THERE GOES THE NEIGHBORHOOD
>Doesnt amazon deliver food now?
>*(Lightbulb)
SMART MOVE ON BOTH SIDES BLACK PEOPLE LOVE TO FIGHT EVERYWHERE AND POST IT ON WORLDSTAR FRONT DOOR DELIVERY OF EVERYTHING IS THE FUTURE.