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2019-06-18 05:19 71480464 Anonymous (Screen Shot 2019-06-18 at 10.29.43 AM.png 1318x1466 342kB)
Why doesn't /g/ talk about cryptocurrencies anymore?
0 min later 71480475 Anonymous
>>71480464
Because it belongs on /biz/ retard
1 min later 71480480 Anonymous
>>71480475
It's technology though.
2 min later 71480501 Anonymous
>>71480464
Because the tech companies don't like it when you talk about their aspirations for world domination
3 min later 71480505 Anonymous
>>71480464
>>>/biz
3 min later 71480506 Anonymous
>>71480480
so are cars and guns and yet we have dedicated boards for that.
go back to your containment board
4 min later 71480516 Anonymous
>>71480501
Are you saying /g/ is just a shill board for tech companies?
4 min later 71480523 Anonymous
>>71480480
>It's technology though.
the vast majority of crypto is actually marketing and has as little to do with actual technological innovation as your common TV infomercial
4 min later 71480527 Anonymous
What are your thoughts on Libra /g/? I'd like to think its gonna be a dumpster fire but there's always the possibility it grows.
4 min later 71480531 Anonymous
The old memes leave that new ones may enter.
8 min later 71480589 Anonymous
>>71480523
I've never seen a thread about technological innovation on this board.
12 min later 71480626 Anonymous
>>71480589
the actual discussion is typically hidden behind pro/anti intel/amd shilling, but you're right
17 min later 71480681 Anonymous
>>71480464
Because it is a ponzi and we are too poor and too stupid to build a new binance.
37 min later 71480872 Anonymous
>>71480464
/g/ has either got JUSTed hard or missed the boat
38 min later 71480887 Anonymous (biz pink wojak 2017-09.png 1291x674 604kB)
>>71480872
wrong pic
40 min later 71480904 Anonymous
>>71480464
during the first bubble in 2012 or 2013 /g/ was spammed day and night about bitcoin. It got so bad /biz/ was created just to stop the threads.
2 hours later 71482400 Anonymous
>>71480516
It is for reverse psychology advertising of apple devices.
2 hours later 71482430 Anonymous
>>71480464
Because it became evident that they're but scams.
2 hours later 71482504 Anonymous
>>71480626
>the actual discussion is typically hidden behind pro/anti intel/amd shilling
that's a weird way of saying generals
2 hours later 71482607 Anonymous
Facebook need to be shut down.
2 hours later 71482614 Anonymous
>>71480464
Because newfriends are here
3 hours later 71482739 Anonymous
>>71482614
ROFLCOPTER oldfags never bought into the ponzi scheme
t. been here since 2003
3 hours later 71482773 Anonymous
>>71480480
Scams are not technology
3 hours later 71482776 Anonymous (ROFL_Copter.gif 360x150 2121kB)
>>71482739
Gotta claim the internets for crackychan
3 hours later 71482805 Anonymous
>>71482739
Based. I too refused to buy bitcoin on principle when it was under $0.10. Sure, I could have been a multi-millionaire if I just put $100 into it and waited a few years, but I feel a lot better knowing the satisfaction that I never fell for this ponzi scheme.
3 hours later 71482806 Anonymous
The stupid retarded kike jumped too late on the bandwagon.
3 hours later 71482855 Anonymous
>>71482773
But some technology are scams bro
3 hours later 71482985 Anonymous
>>71480464
This is just Facebook becoming a bank without the need to become a bank. Lots of governments will ban this for obvious reasons. Venezuela, China, Russia, Turkey would be big ones. Eurozone will likely ban it so their Italies, spains, and Greeks don't fuck things up more for the euro.
3 hours later 71483125 Anonymous
>>71482739
>>71482805
lol stay salty poorfags
btw stupid fucking thread, crypto belongs to /biz/, the shittiest board on 4channel(and that says a lot)
3 hours later 71483129 Anonymous
Botnet
3 hours later 71483137 Anonymous
>>71482985
you cant really ban crypto, thats the fucking point
3 hours later 71483345 Anonymous
>>71480464
Crypto is a neat idea, but I found it easier to just get a job and steady income. Instead of gambling on crypto, I got a broker. Slow and steady works just fine.
3 hours later 71483435 Anonymous (1560175663053.jpg 750x499 201kB)
>>71480464
Faceberg is rolling out a social credit system through a new currency as a private information broker
You couldnt make up these horrific dystopian narratives if you tried.
I wonder who would score higher; working blue collar families or welfare leech homosexual child abusers.
4 hours later 71484143 Anonymous
>>71480464
zuck trying to take the world over
and you are too late to stop him, just like in your cyberpunk stories - corporate tyranny is inevitable
5 hours later 71484365 Anonymous (1510255731.png 402x584 22kB)
>pamperchu was one of the first persons to mine bitcoin
5 hours later 71484655 Anonymous
>>71480475
to be fair, /biz/ only really cares about the gambling aspect of crypto currency "investments", not the technology
5 hours later 71484989 Anonymous
>>71483435
you are too focused on the insignificant things, like a daft bull charging at red cloth and infighting while the big tech takes away your rights and freedoms
make the peasants fight eachother to make sure they never revolt against their lord
6 hours later 71485073 Anonymous
>>71484989
oy vey, it's another shoah
DELETE THIS
6 hours later 71485108 Anonymous
>>71480464
They're not exciting and new anymore. Just part of the furniture now.
7 hours later 71485830 Anonymous
they are meant to be used as contracts and they currently have no legal standing so people are just waiting and is doing other things in the meantime. the currency factor is a redherring to blind you from its true power
7 hours later 71485844 Anonymous
>>71480464
Because it's a dead horse.
7 hours later 71485848 Anonymous
>>71485844
for you
7 hours later 71485871 Anonymous
>>71480464
>globalism
No, thanks
t. Russian
7 hours later 71485953 Anonymous
>>71480527
If there's no government regulation of crypto that makes it actually safe to use, then this will be what causes normies to flock to it...given that it's just kikebook starting it's own cryptocurrency.
And that's the problem. Because kikebook will never ever do anything that actually respects your privacy and freedom. Every purchase will be tracked, they will know exactly what you bought and where and they'll know it was you. What they will offer is something a lot more convenient than any other cryptocurrency can: install the app, enter your CC info, buy however many coins as you want, and spend them wherever apple and google pay are accepted. They might even be the only cryptocurrency that can be exchanged for cash at a bank.
But you can't just trade it all for bitcoin, they'll kick off anyone they don't like if they get donations though it, you have only one address for your wallet instead of a zillion and your wallet isn't even on your machines.
7 hours later 71485985 Anonymous
>>71485871
Don't you want zuckercoin (jpm) ?????
We are coming for you!
8 hours later 71486811 Anonymous
>>71485953
>But you can't just trade it all for bitcoin
Why not? They announced coinbase as one of their partners, so I imagine that means you'll be able to buy and sell libra for btc.
8 hours later 71486996 Anonymous
>>71480464
>Cryptocucks
>>>/biz/
8 hours later 71487003 Anonymous
>>71486811
I did say "trade it ALL". I'm sure they'll let you buy SOME bitcoin with it, but they'll put limits on that because I doubt they want oooooohhhh shit.
Nevermind, I just realized that they could use the exchange of zuckercoin and bitcoin to try to calculate exactly how much bitcoin is associated with a particular person.
8 hours later 71487004 Anonymous
>>71480506
/thread
9 hours later 71487051 Anonymous
>>71487003
Either way it will bring massive amounts of new money into the crypto ecosystem and will probably push btc to some astronomical new high.
9 hours later 71487075 Anonymous
>>71480464
>jewbook in
Lame but predictable. In the end crypto will be owned by same old same old.
9 hours later 71487294 Anonymous
We tried to tell you about [redacted], but you didn't want to listen.
Meanwhile, I'm up 5x in the last week with no signs of stopping.
9 hours later 71487307 Anonymous
it's almost like naive techbros with poorly thought through anarcho-libertarian ideals didn't think through what they were doing, created something with no safeguards and allowed massive corporations to co-opt and create a new form of company-scrip that would come to dominate the global financial system.
10 hours later 71488173 Anonymous
>>71487307
The populace can just lynch and kill bad power abusers. I mean I know most of you are well domesticated slaves but people like me never forget there's always a time for justified murder.
10 hours later 71488212 Anonymous
>>71488173
Commies aren't welcome on this website.
10 hours later 71488246 Anonymous
>>71488212
You can't be referring to me, when I'm saying companies abusing their market position deserve to die, and you probably echo every anti-Intel shill on the board when AMD releases a CPU.
Like I said.
Most of you are (retarded) well domesticated slaves.
10 hours later 71488273 Anonymous
>>71488246
Please report to your nearest helicopter.
10 hours later 71488287 Anonymous
>>71480464
because these aren't bitcoin,blockchain, or cryptocurrencies at all. Its just facebook implementing its own version of paypal. Which isn't technology its just a shitty business strategy
10 hours later 71488295 Anonymous
i haet crypto bcuz i cant steal it
11 hours later 71488501 Anonymous
>>71485871
Your post was made possible by globalism
Kill yourself you retarded redneck trash.
11 hours later 71488542 Anonymous
>>71488273
Go slurp Bernie's cock onionsboy
11 hours later 71488567 Anonymous
>>71488542
>I'm not a commie, you're a commie!
You won't be able to kill the evil rich people when you're that unfit, reddit. Consider having sex.
11 hours later 71488614 Anonymous
>>71488567
The conversation was about corporate control over people's lives turning into a situation where people suffer for ultimate profit.
It's got nothing to do with whatever you want to call any given economic system,
It has to do with the culture of a society and the behavior of the people in power.
Murdering evil people is not wrong.
I've never been a fucking communist, socialist, bernie supporter,
You're a stupid dumb retarded braindead idiot cunt.
I know you're a stupid dumb idiot braindead retarded cunt because you're too
>mentally defective
>immature (young)
>or otherwise incapable
11 hours later 71488619 Anonymous
>>71488614
Stay mad faggot
11 hours later 71488643 Anonymous
>>71488619
Ok bye little shit highschooler!
You can go back to your daycare because we don't want you faggots shitting up adult-zone with your Youtube-tier knowledge of absolutely nothing!
11 hours later 71488695 Anonymous
>>71480475
why does that need to go to /biz/ though when all the careerbloggers with their won't ever FUCK OFF with their redditism?
11 hours later 71488707 Anonymous
>>71482855
like windows
11 hours later 71488760 Anonymous
>>71480464
>>>/biz/
13 hours later 71489567 Anonymous
I hope bizonacci makes new zuck vs bog videos.
15 hours later 71490658 Anonymous
>>71480464
dat nose
16 hours later 71491113 Anonymous
>>71484365
>diaper-wearing sonic-loving degenerate
>a person
17 hours later 71491341 Anonymous
>>71480464
Because it's already ruined as currency for the next decades. After Bitcoin, everyone will just see new cryptos as another speculation bubble whose only purpose is to make you a lot of money very quickly, and not to pay for goods and services.
17 hours later 71491360 Anonymous
>>71482805
hindsight is 20/20
I could also go into the next casino and go "well, I COULD have put all my money on red.." after every round.
17 hours later 71491371 Anonymous
>>71483137
they can easily castrate it to the point of being barely usable since it's tied to Facebook though. just ban it and then squeeze billions worth of fines out of Facebook till they make it so inaccessible for Europeans that it loses all its convenience-advantages over the other cryptos.
17 hours later 71491394 Anonymous
>>71483435
Assuming automation proceeds at the pace all doomsayers are predicting, you'll probably see a shitload of countries rolling out social credit systems in the future. They'd enable a transfer of goods in an economy where the labor of most people has been made worthless.
17 hours later 71491415 Anonymous (shadowrun cyberpunk feels man.jpg 1630x1600 1646kB)
>>71480464
>literal fucking corp scrip
Ayy, time to pick up my dusty cyberdeck and go netrunning.
17 hours later 71491485 Anonymous
>>71480527
>people pay real dollars for Facebucks
>Facebucks are now worth real money
>Facebook starts taxing users with Facebucks
>10 years pass
>Facebook is now a credit union
17 hours later 71491567 Anonymous
>>71480464
Literally Evil Corp.
17 hours later 71491691 Anonymous
>>71480527
Of course it will grow normies will flock to it, the whole concept is retarded tho
>You can buy libra and then pay for a coffee with your phone
All they done is reinvent the credit card or paypal but it's not as good because you can't use it everywhere only for a few select services. Do niggers not know you can just use contactless with Google or apple pay, don't have to transfer money over they way either
18 hours later 71492128 Anonymous
>>71480516
Yes, now BTFO
19 hours later 71492409 Anonymous (proxy.duckduckgo.com.jpg 444x600 67kB)
Facebook going "blockchain not bitcoin" is a long expected and necessary phase for crypto adoption; infrastructure inversion
they'll try using their horses on this newly paved road before ever adopting cars, it's not like the horses don't like this
https://www.youtube.com/watch?v=5ca 70mCCf2M
19 hours later 71492497 Anonymous
>>71480872
>/g/ has either got JUSTed hard or missed the boat
Yeah, and that's a good thing either way, right? No one here is too big to fail and can avoid a trial for Ponzi/Pyramid schemes which is essentially what all crypto currencies ever amounted to.
19 hours later 71492505 Anonymous
>>71482805
>Sure, I could have been a multi-millionaire if I just put $100 into it and waited a few years
Ehh, I don't think so. Many exchange sites just took people's money and shut down. And that goes for the prominent ones.
19 hours later 71492527 Anonymous
>>71487307
>and create a new form of company-scrip that would come to dominate the global financial system.
The only thing crypto currencies will be dominating are people's lives and the lives of those who have been involved in Ponzi schemes.
19 hours later 71492565 Anonymous
>>71480464
What is there to talk about from a technology side?
20 hours later 71492976 Anonymous
pls buy chainlink sirs
20 hours later 71493002 Anonymous
>>71491691
If they issue a visa debit card that will automatically deduct zuckercoin from your account, it'll be accepted everywhere; in that scenario, the idea is probably to get people to exchange bitcoin for zuckercoin because thats the only way they're going to actually be able to buy stuff with crypto.
20 hours later 71493026 Anonymous
>>71480506
Not him, but cryptocurrencies are still recent technology, and in early stages of development.
Now shut the fuck up
20 hours later 71493044 Anonymous
>>71493026
there is a literal containment board for your ponzi scheme scams, fuck off
20 hours later 71493080 Anonymous
>>71483435
it's capitalism, idiot.
20 hours later 71493098 Anonymous
>>71480464
Facebook is dying and this is just another of their desperate schemes to try to keep themselves relevant.
Despite what your dystopian fantasies might lead you to believe, normies are squirming under the grip of the Orwellian social credit megacorp and little by little telling the Zuck to fuck off by deleting their Facebooks.
20 hours later 71493179 Anonymous
>>71492409
quality response
20 hours later 71493277 Anonymous
>>71493044
>ponzi scheme scams
butthurt nocoiner
20 hours later 71493300 Anonymous
>>71493277
And I'm sure you bought 10000$ in Bitcoins when it was cents a dozen and sold 15th December 2017.
Just fuck off back to >>>/biz/ and buy another 20k in CUM coins while you waste away at McD, but I'm sure we're all gonna make it.
20 hours later 71493301 Anonymous
>>71493277
Can't divert from the script, huh? This exact response is posted every time someone tells you what it is.
20 hours later 71493309 Anonymous
>>71493277
Not him, but maybe you can explain how this is an argument. I'm certainly butthurt about missing out on being a rich scammer, but that doesn't make cryptocurrencies any less of a scam...
20 hours later 71493345 Anonymous
>>71493309
>rich
>scammer
Yeeeaaahh... Not for long. If they could get Madoff, who had more money anyone could ever spent in one lifetime and was a former chairman of NASDAQ - they can get you. But I'm sure everyone over at /biz/ is a millionaire.
20 hours later 71493375 Anonymous
>>71485953
Isn't that similar to Paypal? In my country there are some similar thing like WeChat app where you could exchange money to those currency and they give incentives like points and discount.
21 hours later 71493640 Anonymous
>>71480464
Libra is as much a cryptocurrency as Apple is a privacy respecting company.
21 hours later 71493671 Anonymous (bitcoin-comic.png 625x605 64kB)
21 hours later 71493714 Anonymous
>>71493300
no, nigger, i mined a day of dogecoins with a single gpu and i made more money than you ever will in your entire lifetime. you probably knew about them as well at the time but you chose to be a nocoiner.
21 hours later 71493724 Anonymous
>>71493671
how did the hodler lose his arms?
21 hours later 71493742 Anonymous
>>71493724
doesn't need them anymore
21 hours later 71493761 Anonymous
>>71488707
Windows is not a scam, it's plain and simply shit.
21 hours later 71493805 Anonymous
>>71480527
What is even the point to go blockchain, if it's completely backed by actual assets?
You could just as well run a centralized database at Facebook.
Libra may look decentralized at first glace, but it isn't.
Probably not going to be a dumpster fire, but it's nothing to make money with - except for Zuckerberg.
21 hours later 71493918 Anonymous
>>71493805
the point isn't even to make money
cuckerberg can still block your business, can block your account if they don't like you. not an issue with real crypto
21 hours later 71493940 Anonymous
>>71493301
>what it is
it's not what it is, though, you're just mentally retarded and simply butthurt
21 hours later 71493967 Anonymous
>>71480464
This is a communist board
22 hours later 71494070 Anonymous
>>71480464
Libra is not cryptocurrency, it's a digital dollar.
22 hours later 71494447 Anonymous
>>71493940
Sure thing genius. And I'm also sure you're a millionaire.
>>71493345
22 hours later 71494520 Anonymous
>>71480464
short attention span
22 hours later 71494611 Anonymous
>>71494447
>I'm also sure you're a millionaire
will you cut your dick off if i sign a contract with my eth to prove you're a moron?
22 hours later 71494726 Anonymous
Facebook know that once they have a substantial slice of the financial market we are fucked.
22 hours later 71494768 Anonymous
>>71493345
>they can get you
how are they going to prove existence or ownership of funds if i only sell my coins for cash in person with people i know?
23 hours later 71495191 Anonymous
>>71494611
Sure. Let's see it millionaire.
23 hours later 71495205 Anonymous
>>71494768
Transferring process isn't anonymous and someone scamming people in person isn't anonymous either. Someone would've remembered your face.
23 hours later 71495234 Anonymous
>crypto bubble
lmao
https://youtu.be/DMonlRsJ5hY
25 hours later 71496650 Anonymous
>>71495234
kino
27 hours later 71497865 Anonymous
>>71495205
I'm always baffled by people's "definitions" of anonymity.
No, once there are unique IDs associated with the transaction, it's not anonymous anymore.
Bitcoin without the transactions being blatantly visible to anyone looking would be big.
27 hours later 71497886 Anonymous
>>71493080
Because communists wouldnt enforce a social credit system right?
28 hours later 71498336 Anonymous (file.png 1788x720 307kB)
>/g/ still mad almost a decade and $9,000 USD in value later
imagine my shock
28 hours later 71498611 Anonymous
>>71498336
When the bubble bursts and impacts the real economy you are going to find yourself out of a job, holding worthless coins and with no marketable skills.
Kudos to you if you got in early and sold at the top tho. You surfed the wave. 99% of retards and shills didn't.
The whales are waiting for the next high to sell off and GTFO.
29 hours later 71499143 Anonymous
>>71498611
>the next high
Which is going to be at least $100k. You would have to be a genuine retard to not buy at least some btc right now.
29 hours later 71499542 Anonymous
that some cyberpunk stuff here, bro.
29 hours later 71499565 Anonymous
>>71491371
i wont use botnet facebook crypto. i will continue to use legit, decentralised cryptocurrencies for my own needs. i use them every day, for my use cases they are actually really useful. i know for a fact that for most people they could be extremely handy too. i dont give a fuck about getting rich with crypto, thats retarded
29 hours later 71499577 Anonymous
>>71499143
What if it tanks due to Calibra
29 hours later 71499612 Anonymous
>>71498611
Anybody who understands the tech behind BTC will know that it hasn't even reached the heights it can yet. They really don't understand it. They think it is like Runescape gp or any other form of currency that exists digitally in a centralized database. Cryptocurrency is the future. There is no stopping it. It transcends borders and governments and is the next obvious step in globalization and the financial unification of the entire planet.
30 hours later 71499876 Anonymous
>>71499612
I understand the tech and I understand economics unlike you. Bitcoin and other cryptos can never function as a medium of exchange, only as a store of value. Thus it will never be a real currency.
The way Bitcoin is designed (with a cap on the total number of BTC that can be created) means its capacity to create its own market of goods and services is very limited, because of Gresham's Law. (Bad money drives out good money). This means people hoard Bitcoins but are unwilling to spend them. Thus the Bitcoin market of goods and services is very small and stuck in permanent deflation mode. Deflation is bad because it creates liquidity traps (people expect the price of things to drop and thus refuse to spend money).
It's the same principle that caused countries to ditch the gold standard decades ago.
Bitcoin markets itself as money but it is not money, it is a commodity like gold. But unlike gold it does not exist in the real world but only as a virtual unit, and thus ultimately useless. Gold will always have value because it's a physical good. Bitcoin's future is uncertain, its value has no floor tu support it. When the market realizes this it will ultimately crash into the ground. It may happen in 2 years or 200, but it will eventually happen. Like those odds? Go for it, but stop shilling this shit to plebs. It's an extremely risky gamble, no different than a casino.
30 hours later 71500051 Anonymous (1_sfnHf-rQ5oaZYbBvgramSQ.png 1200x630 32kB)
>>71480464
The libra logo is that of a snake on a tree. It's been discussed on /biz yesterday.
30 hours later 71500206 Anonymous
>>71498611
I have a feeling when the next crypto bubble bursts it's going to take the real world with it
30 hours later 71500362 Libra WP overview (15608740989153.png 381x533 215kB)
Here are some notes on the Libra (facebook coin) whitepapers
https://youtu.be/Amvnucsam4k
30 hours later 71500378 Anonymous
>>71480480
/biz/ was created solely as a containment board for the shitty cryptocurrency threads that took over 80% of /g/ a couple years ago
go back
30 hours later 71500379 Anonymous
>>71499876
BTC essentialy abolishes inflation on the currency side of things, so why wouldn't people prefer to hold onto it over eternally self-destructing national currencies?
It will become viable as a currency when people start accepting it as a payment en masse. They'll do it for diversification or necessity at first, but after a while they'll start thinking about paying each other for goods and services, since everyone has their foot in the door. Someone whose primary income is BTC won't hesitate to use it like any other currency.
Governments ditched the gold standard because printing money allows them to tax the population by proxy, since they're spending their own currency on themselves. I agree with that other anon: this transcends governments and their self-serving monetary agendas.
31 hours later 71500662 Anonymous (descarga.png 1408x957 113kB)
>>71500379
>>71500379
>BTC essentialy abolishes inflation on the currency side of things, so why wouldn't people prefer to hold onto it over eternally self-destructing national currencies?
Exactly why it will never take off as a currency. You don't even need to be a PhD to understand this shit, just stop and think... if you had both, would you rather spend dollars or gold coins to buy your groceries? Nobody is stopping you from using either, you could abolish inflation today! Yet people don't. Because of Gresham's Law. (Everybody with a brain would rather keep the most valuable currency to themselves and use the less valuable one, provided both are accepted)
Also, deflation is a bad thing no matter what lolibertarians and goldbugs tell you. Almost every school of economics agrees a 2-3% annual inflation rate is the optimum to keep both consumption and savings at healthy levels.
>It will become viable as a currency when people start accepting it as a payment en masse.
Wrong, see above. If Bitcoin could create its own market of goods and services it would have happened by now. But instead it's stuck in permanent deflation (as predicted) and people who spent hundreds of BTC to rent apartments in 2011 are mocked as idiots because they could've been rich by now.
>Governments ditched the gold standard because printing money allows them to tax the population by proxy
The gold standard was ditched because it was a terrible system that created frequent panics, recessions, depressions, and prevented governments from having an active monetary policy to manage downturns.
Both growth rates and inflation rates have been more stable and steady under Central Banking. (Less downturns and no banking panics)
See pic.
Nobody advocates its return except for fringe nutjobs.
31 hours later 71500792 Anonymous (growth rates.png 750x510 97kB)
>>71500662
Previous pic shows inflation btw.
This one shows growth rates.
Both more stable under fiat money.
Same average growth rates but without a banking panic or recession/depression assfucking everyone every 4 years.
31 hours later 71500833 Anonymous
>>71500662
>2-3% annual inflation rate is the optimum to keep both consumption and savings at healthy levels
There's absolutely nothing healthy about the amount of unnecessary consumption that goes on in the world today. Anything that makes people buy less shit is a good thing for the long term survival of our species.
31 hours later 71500883 Anonymous
>>71500833
You are getting into environmentalist or even philosophical territory and I actually agree with you, but talking purely in terms of economic growth, a steady level of consumption is good for the economy.
No consumption = No growth, simple as.
Now you can argue whether that's good or bad but regardless it's a superior system than the gold standard.
31 hours later 71500961 Anonymous
Is blockchain development something worth pursuing or is it a meme dead end risk?
31 hours later 71501070 Anonymous
>>71499876
Those are sound economic critiques but the functionality of cryptocurrency transcends these arguments.
The fact you even compare it to gold is indicative of your ignorance. "vitual unit, thus ultimately useless". Ah yes, the most robust distributed computing project to ever exist working tirelessly to ensure the integrity of the blockchain is useless and virtual.
Sure there are some economic problems with using it as a currency, but these are boomer tier arguments. The value of an asset which resists regional instability, regional currency devaluation, is unseizable by governments, and is backed by the most secure computing project known to man. This is the future. There is no turning back.
31 hours later 71501122 Anonymous
>>71480464
Its a glorified spreadsheet.
31 hours later 71501167 Anonymous
>>71482805
>winning at gambling means everyone else needs to gamble
Remember Mt. Gox?
31 hours later 71501171 Anonymous
>>71501070
Well, we'll just have to wait and see.
Medium term Bitcoin does work.
Long term I'm not so sure because of what I wrote above.
Still I would say it's a speculative investment. You may become a billionaire or lose all your savings in a matter of years or perhaps even months. Those are life-breaking odds. As a side investment of money you are willing to lose it may be OK.
Still, I would never advice some normie with no idea of how it works to buy into it.
31 hours later 71501247 Anonymous (libra-map-watermark-the-block-674x675.jpg 674x675 39kB)
do NOT use libra
I reapeat: do NOT use libra
It's a corporated currency controlled by facebook and backed by the financtial establishment. They can know when, where, how much and what you buy. They know who you send money to. They know everything (as if they didn't know enough yet...). Pic related is companies that backed libra.
do NOT use it. Use bitcoin, monero or whatever, but NOT libra.
31 hours later 71501328 Anonymous
>>71501171
I believe cryptocurrency will succeed mainly due to the wealthy using it as a tax haven and as a globalization/global uncertaincy hedge, but there are some quality arguments against it. It doesn't really deserve to succeed even though I think it will once the powerful exploit it the way petty criminals have been.
1. It doesn't scale. Blockchain data will only be able to be stored by large players due to chain growth. Satoshi also envisioned people mining on their computers, not some fuckers abusing patent law an Asics to monopolize mining. The Bitcoin Core cunts also limit block size only because their miner friends get rich from block fees and give them kickbacks.
2. It isn't usable by normies. Probably 0.001% know how it works technically. They don't know that coins on exchanges aren't theirs and that they are stored as an IOU in MySQL instead of the blockchain. Most of the scaling of crypto will be because the layer 2 scaling solution will be people not actually using crypto, but using exchanges.
3. ECDSA might be broken, nobody knows. Additionally QC breaks ECDSA so the entire market cap of crypto is the size of the bet that ECDSA won't be broken.
4. It can be subverted by the powerful. They claim to be open source but good fucking luck getting a commit accepted. Blockstream itself is a banking cartel associated group and they could torpedo the whole project if some billionaire cuts them all a big check.
5. It can be destroyed by government agencies. If the NSA used their critical infrastructure backdoors they could turn off the ocean cables for a few hours permanently forking the chain regionally and tanking much of the value.
32 hours later 71501474 Anonymous
>>71480480
/biz/ was literally - literally - created as a response to the cryptoshit craze shortly before the first every bubble
32 hours later 71501629 Anonymous
>>71501328
You make good points, that was a very informative post anon. And yes, 0.001% knows how it works deep down, but that isn't stopping many in the other clueless 99.999% from going on speculative frenzies such as that of 2017.
32 hours later 71501655 Anonymous
>>71500662
Spending BTC might become the only option for some people. If a highly skilled professional dealt exlusively in BTC (for example, a doctor who gives quick medical advice that he'd shit bricks over giving in a more regulated context,) then they'd save millions by avoiding taxes. It's easy to lose sight of that when we're like a miser fingering his solitary gold coin by candlelight, with our small BTC holdings and lack of BTC income.
No VAT/sales tax, no income tax, no transfer fees. There are huge incentives to BTC for both buyer and seller. People don't behave the way schools of economics tell them is best for society.
32 hours later 71502058 Anonymous
>>71493277
BITCONNNNNEEEEEEECCCT
32 hours later 71502126 Anonymous
>>71493375
Yeah, but I think the goal is to sorta unite all the digital exchanges including crypto using this one system to tie everything together somehow. I mean, I can't think of any other reason why they'd even bother, it doesn't make it any more convenient for potential users if they just introduce another competing standard.
Could also be just a scheme for megacorps to buy up all the bitcoins from people who want to get rid of them cause it's hard to buy a car with crypto and like hell banks are going to let people try to be independent from them. That way bitcoin becomes worthless forever once they have all of it.
32 hours later 71502139 Anonymous
>>71480464
Sent ;)
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