/biz/ - Business & Finance

...I can say that crypto is a failed experiment

Why, you ask?

Well, its all about trustlessness, but in this short timeframe of 1 year of popularity, it is already devolving into a mass of centralised messes.

Bitmain directly and indirectly control 51% of the bitcoin network via direct mining or ownership of mining pools or investment in mining pools. Fail.

EOS, one of the most popular cryptocurrency projects with the largest ICO, is a centralised mess with 20 nodes all connected to the founders. Fail.

Vechain, the most shilled coin in existence right now, are direct proponents of centralisation, and confess that they will adjust things like generation rate of gas at will. They have also admitted to giving out free coins to corporations. Fail.

Ethereum, still decentralised but unscalable and with ETH asics coming out it will not decentralised be for much longer. Fail.

Ripple. Fail.

Neo. The blockchain has been down 4 times now. Centralised fucking fail of epic proportions.

Most others are scamcoins. This whole thing is a mess of bullshit.

As I'm writing this, and I didn't even intend to mention it, there is one project which addresses all of this. It is a perfect design, and if realised will revolutionise cryptocurrency. Matrix AI Network with their random clustering algorithm which combines EOS with Ethereum in that its centralised but only for 10 minutes at a time, hence a different 'centre' every 10 minutes.

Aside from this, tokens and coins in general are bullshit and are probably a meme. No company wants your fucking tokens, they will use a consortium chain developed in house or by IBM or by some other smaller blockchain startup.They will connect with eachother and be trustless amongst eachother. Boomers are not going to make fucking making retarded NEETs rich out of their minds unnecessarily.

Prove me wrong.

Lads, public service announcement here - check your inboxes for any unauthorised logins into anything linked to potential social media like Twitter, Facebook or Google Plus from elsewhere (Hokkaido for example) - some fuckery's afoot - you might have breached exchange accounts.

I need crypto any advice for the new fag.

Bro I lost everything I invested, I'm most certain that my email has been hacked bc the password now doesn't work same for my Coinbase account. I know my 1 btc is gone now for sure. How does this happen? I'm fucked guys that was money for my car.

So did any of you find anything yet?

directory.io

Which kind of file storage is the safest in the long run? USB stick, External HD, Burning the wallet file on a Bluray?

How do you keep your cryptocoin secure? I have a lot of money in one wallet file. This feels slippery. What necessary precautions do I need to take?