/biz/ - Business & Finance

and people will pay much more for it in the future.

>>11895934
wrong

We just hit double digits can we please go up now

>>11895861
low quality bait

>>11895934
These people don't understand, buying enough eth for staking will make you own part of the emerging decentralized infrastructure. It will give you a guaranteed rate of return for just owning something that others build on.
The amount of institutional fomo this will cause will be insane. If there is one thing that institutions all want, it's to own the infrastructure behind things. Own the means of production, is what they say.

>>11895861
I know a guy that bought 5 at 1300 each

>>11895861
I see the eth 2018 crash as the 2014 btc crash

cant wait to see $5k+ eth in 2020

(and yes you can screenshot this for your collection)

>>11895970
rofl by the time people are interested in this again, one of the many ETH competitor platforms will have taken the spotlight.

It's simple, just because the market goes down doesn't mean developers decide "ah fuck it guess we're done." The businesses worth a shit and not scams will continue to market and get people on the platform. Look at fucking Tron--the utilization has surpassed ETH and people are actually using it instead of buying and holding.

During this bear market, ETH will be forgotten about as people move to actual useful platforms to do work on instead of the most popular one. When the bull market comes back, one of these new platforms will be the defacto one devs migrated to, and nobody will give a fuck about ETH anymore.

>>11895970
What you don't understand....is that staking is never happening.

>>11896133
that's the first thing
but even if it did happen, the inflation is gonna drive this shitcoin to the ground

>>11895975
Bitcoin went -85% at the absolute lowest during the brief capitulation to 150. Ether is -93% already and we are far from finished. There will be no rebound from this for Ether, but BTC will likely be at ATH within 3 years.

Only a moron would draw a parallel between the future world reserve currency (BTC) and the steaming pile of dogshit that is Ethereum and all of its shitcoin children.

>>11895970
>guaranteed rate of return
>like 3% of yearly return
>drops 15% in value in 1 day
Nice rate of return faggot

>>11896201
ever heard of the 2011 bubble pop
32 to 0.02

>>11895970
You idiot, they'll roll their own blockchain solution. It's a generic technology now.

>>11895940
cringe

>>11896245
yeah, orders of magnitude smaller market cap, volume and number of market participants

>>11896239
what do dont realise is the inverse of this can happen and induce the most explosive bubble yet.

imagine the price of eth doing a run as people fomo in to claw some of the supply to stake it

supply tends to 0, prices could go astromonical

>>11895970
No way s.o.y boy. You will just be a cucked bagholder.

>>11896105
tron is DPoS with 27 nodes, it's competing with eos, not ethereum.
>>11896201
>the future world reserve currency (BTC)
The idea of decentralized reserve currency is an oxymoron. Commodities are the natural form of money. 'Reserve currency' can only exist if a state forces everyone to accept it as such, probably by taxes. Nobody is going to accept something without inherent utility otherwise.
Bitcoin already lost the function of a reserve currency in crypto - to tether. In 2017 everyone was 'tethering up' not selling to bitcoin. How is bitcoin supposed to become a global 'reserve' currency if it can't even function as it in a tiny crypto market?
(Now the stablecoin market is decentralizing but that's another topic.)
Pure currency coins have no future except as a speculative toy.

>>11896265
network effects and onchain scaling will mitigate this. I don't want to spoon feed you. Either you see it or you don't.

>>11896414
TRX, EOS, and ETH all functionally do the same exact thing from a dev standpoint. Only cypherpunk autists give a fuck about how decentralized something is. If you're a developer wanting to make a competitive product that's going to go toe-to-toe with others potentially trying to make the same thing, but better, are you going to choose the fastest, cheapest, easiest to use platform, or stick with the slowest, most expensive platform for the sake of your decentralized world ideals?

This is a fucking business, and any future devs are going to be creating on TRX, EOS, or ADA, if they actually want to be successful.

>>11896483
>future devs are going to be creating on TRX, EOS, or ADA
fucking cringe

>>11896483
Unironically this

>>11896483
Nah nigger they're gonna build on XLM

>>11896483
>Only cypherpunk autists give a fuck about how decentralized something is
That's not true, this illusion is only alive because major governments are surprisingly hands-off.
Etherdelta was already fined for being an illegal securities exchange. The problem with DPoS is that it's too easy to fine node operators themselves.
Geographical distribution is useless, because the same act is a crime basically everywhere.
Centralized platforms are social parasites in a sense: the regulators recognize that if they attack them today they are going to ensure everyone switches to decentralized solutions, thanks to the inherent throughput advantages of centralization. So they wait, hoping decentralized networks die from competition. Regulating any centralized network afterwards is going to be a trivial matter.
>If you're a developer wanting to make a competitive product that's going to go toe-to-toe with others potentially trying to make the same thing
If eos/tron is an option, it means you don't need it at all.
Eos users are playing 'dapps' that are closed source and fully editable by the contract owner. It's 100% equivalent to running it on a server. Absurdities like that aren't going to last.
Already token transfers were reversed by token creators - tokens that are supposedly 'owned' by the users.

>>11896589
>So they wait, hoping decentralized networks die from competition
ugh, pasted the phrase in the wrong place, should be:
So they wait, hoping decentralized networks die from competition, thanks to the inherent throughput advantages of centralization.

>>11896323
kek, I've heard this dumb argument way too many times for every single staking coin

Even if you buy the bottom, staking is literally never worth it. You can make yearly ROI in one trade, 3% move is literally nothing in crypto. You're one tiny trade away from making your yearly ROI in a couple of minutes/hours. Staking is a dumb meme that makes you miss on a lot of opportunities to lock up your coins for literally no reason other than to fuel the hype for the same argument you just tried to make.

>>11896505
The only cringe is you thinking businesses actually care about what the current crypto community feels about those platforms, and isn't just looking at the hard comparisons in terms of speed, efficiency, and cost. They don't care about politics, they don't care what autists call scams because they invested in another coin, they only care about functionality.

Enjoy holding bags to the grave.

>>11896414
Tether is a token backed by dollars deposited at a bank and bank deposits are IOUs for paper-dollars, which itself is a debt based asset (aka counterparty risk^3). Furthermore there is only 1.8 billion of tether. Compared to the unforgeable bearer asset BTC which has marketcap of 65 billion at the moment.

Your whole post is embarrassing garbage.

>>11896644
>Furthermore there is only 1.8 billion of tether. Compared to the unforgeable bearer asset BTC which has marketcap of 65 billion at the moment.
A market cap of 65 billion doesn't mean it's possible to exchange bitcoin for 65 billion lmao

>>11896668
nice strawman dipshit

>>11896505
>ADA
kek that scamcoin created by some s o y boy math tutor is never going to be finished.

>>11896589
>>11896620
>If eos/tron is an option, it means you don't need it at all

There are still far more advantages to using a DPoS platform compared to a single product offered by a company, supported only by a single company, and basically reliant on that one company to keep it up and running. Yes, there is that rare possibility of every single node getting taken down, or some whales colluding to buy up every single spot to...I guess sabotage it? But I feel like people are blowing their models out of proportion.

Something like that happening is still exceedingly rare, and guess what, if something like that DOES happen, you can just migrate your dapp to something else, a lot of these platforms now make it easy to do this.

Tron at the very least isn't just a dev sandbox, the foundation behind it is actively working on integrating themselves with the world in different ways--Project Atlas is actually really interesting as a way to further incentivise people to seed data and take control of their own bandwidth.

EOS feels a bit more scammy in that you actually have to pay to make an account, and they have had that issue of forced control, but I still feel like the advantages outweigh the negatives, and are still inherently better than other completely centralized software commonly used today.

>>11895861

>something that no one uses has a market cap of
ELEVEN ZERO ZERO ZERO ZERO ZERO ZERO ZERO ZERO ZERO

Let that sink in.

>>11896679
so why did you write a totally irrelevant fact.
Tether replaced btc as a safe asset in 2017. Any flight to safety was to usdt.
Usdt was the main and only store of value in crypto. Now there are also new stablecoins.
Bitcoin was purely for speculation.
>>11896726
>Yes, there is that rare possibility of every single node getting taken down, or some whales colluding to buy up every single spot to
DPoS node owners for EOS and TRON are already breaking the US, EU and Chinese gambling law. They are running lots of gambling apps.
In normal circumstances it all would be shut down and node operators would go to prison. Ask yourself why it's not happening.
You don't have to be doing something illegal yourself to need decentralization, if the DPoS network isn't actively censoring it's going to be eventually killed, or at best start actively regulating. Then even if you're legal, you may find yourself outside of ToS.

>>11896201
>the future world reserve currency (BTC)
Lol BTC has no future.Ethereum does.

>>11895940
wrong

>>11896427
>network effect
Nobody cares. It's closed for internal use.
>onchain scaling
Kek you're joking right? That's seen as liability, not a plus. I already see it happening; Companies questioning why they need to use someone else's blockchain solution when they can just roll their own and totally avoid fluctuations and risk from idiots "trading" a game of greater fool theory.

It's nonsense.

>>11896644
>Tether is a token backed by dollars deposited at a bank

You have no idea what you're talking about, like most /biz/ posters. The only thing backing Tether is Bitfinex's cold wallet, and for obvious reasons, that's decreasing in value every day.

>>11896824
BTC was never a 'safe asset' for short term value storage, despite performing amazingly well in multi-year perspective. Stability increases with marketcap and volume, so when marketcap is in trillions, it will be more stable than now obviously.

>Usdt was the main and only store of value in crypto
Go ahead and store your value in USDT for 5 years. I will do the same in BTC and reality will decide who was the moron. Tether is just an instrument for avoiding taxes and KYC honeypots like coinbase, I will be surprised if it exists in 2 years.

>Bitcoin was purely for speculation
Yes, because it is a currency, not a revenue generating asset aka investment.
You are witnessing monetization of an unforgeable, unconfiscatable, uninflatable digital commodity which is more scarce than gold (finite supply). Nobody ever witnessed monetization of a commodity during their lifetime (gold was monetized across centuries, maybe millenia), thats why you dont get it. It cannot be smooth gradual adoption, it has to be in waves of speculative bubbles.

Eth is undervalued. The fair price right now is $500. Accumulate cheap while you can. Screen cap this and thank me later

>>11897113
How heavy are you bags anon?

It's okay, we're all frens here.

mfw i paid 1300, unironically.

>>11897063
Based
btc minimalists will not make it

>>11895934
Cope
>>11895970
Cope

>>11897063
Unironically based
t. BTC minimalist

>>11895951
Why would hitting double digits mean we get to go up? People are really capulating on eth under 100.. see you at 50

>>11897063
>a 'safe asset' for short term value storage
that's literally what a 'reserve currency' is supposed to be
>Go ahead and store your value in USDT for 5 years
It was usdt, now there are more stable coins which include usdt. Circle usd is even fdic insured.
>I will do the same in BTC
You can't 'store' value in btc. A dollar token is exchangeable for a dollar that's supposed to exist as long as the token exists.
>Yes, because it is a currency
It's not.
A currency is:
- a unit of account. Btc isn't, everyone ultimately measures everything in dollars or other major fiat.
- medium of exchange. Very limited and inferior for all legal uses to credit cards/bank transfers/etc
- store of value. Isn't.
It's a speculative toy, nothing else.
>Nobody ever witnessed monetization of a commodity during their lifetime
cigarettes become monetized in prisons or pow camps in days.
During market shortages in socialist countries sugar became monetized - because it's durable (if dry), has multiple uses (especially making alcohol) and contains energy.
Same applies to gasoline in other circumstances.

That's what the future of money is going to be - something of utility that's also useful in itself. It can be a tokenized physical commodity, or a digital token that's directly useful, like token for gas payments. No 'reserve currency' is going to exist. You will enter what you want and what you have from a set of thousands of liquid tokens. The other side will do the same. The units will be automatically converted by arbitrage bots based on the current market situation.
The equivalent to saving 'money' will be saving a basket of all tokenized assets weighted by their market cap - including worldwide real estate and resources.
There's no place for bitcoin in this future.

>>11896245
If it goes down to 2 cents next year even I'll buy into it as a lark

>>11896992
Like most /biz/ posters you have a hard time comprehending a point. I was just giving him the benefit of a best case scenario, where the money is actually in the bank, which is definitely not certain.

>>11897332
You can ignore what I said, but it doesn't change you being wrong.

>>11897217
You member when everyone had a shiton of eth from powm and shit? I had 20 worth 20k+ now 2000... i ‘member

>>11895970

Staking will never happen. Literally in development since 2015.

Literally more vaporware than sidechains for bitcorn.

>>11897402
It's going to happen because there's nothing impossible about it. Tezos already has PoS. PoS itself is relatively simple.
They are developing PoS as one design with sharding which is why it's taking so long.
Development delays are indeed the biggest problem with ethereum.

>>11896623
>every single staking coin
you mean shitcoins with no demand/purpose right?

this is eth, #1 platform in a vastly growing market, largest dev community in the world.

only takes afew more successful projects (like maker's DAI stablecoin) on eth to take off

>>11896133
>>11896155
>>11896633
>>11896644
>>11897244
>>11897455

Checked and Kek'd

>>11897455

It's not happening because no one actually cares about it. Eth exists to launch ICOs and shitcoins.

Vitalik just lost 85% of his personal fortune, he hasn't developed shit in forever, he doesn't care. No one cares. They're too busy teaching shitcoin inventors how to scam at their shitcoin university.

Proof of stake with muh eth, when it's become a double digit shitcoin, and the ICO phase is long done, dead, and buried, is dumber than holding deepbrainlet chain for muh blockchain AI.

>defending shitcoins and betting against one of the most active projects on github

you retards deserve to be poor..

Look at you all worrying about which decentralisation and which platform will best the other. Just buy BAT and be comfy, knowing that normies will flock like ducks to bread

>>11897580

I have a better idea.

Hold real money.

>>11895970
I think you just won bagholder bingo.

>>11897506
>#1 platform
For now, every bull market has a leader and for this one, it was ETH. Next one will be something else.
DAI is probably one of the only notable projects that's interesting and it works. Other projects are still in development, that is if they don't go bankrupt during this bear market. And even if they do finish up their projects, Ethereum is still too slow for any kind of adoption.
This is all still very early and Ethereum was WAY overvalued for what it currently offers. I'd only consider buying some below $50 at its current state.

>>11897594
>holding kike money in a kike system
You should be maxxing out loans its their numbers system vs /ours/

>>11897292
Thanks for summarizing the shitcoiner stupidity in one post, including the very first sentence where you conveniently ignore the word FUTURE (world reserve currency) which I used in my original post.

Good luck with those shitcoin bags, I hope you stay just as convinced after another -95%.

>>11897580
normies give 0 fucks about your batcoin that can be replaced with anything else without changing anything about how the browser works lmao, pure funding gas shitcoins are going to 0 (where they belong)

>>11897763
Normies like what >they tell them to like.

>>11897732
>the word FUTURE (world reserve currency)
Btc WAS the crypto reserve currency, but lost it to tether.
That's why you're so angry, because this single fact completely destroys your narrative and you know it. Bitcoin can't even hold its ground in the crypto space.

>>11897841
you are fucking retarded lmao, enjoy your fiat and 6% inflation every year, let's see who ends up in a better position a year from now

>>11896692
Ada will kill it in a few years. All other coins are for niggers with low time preference. Do you think big money will put their money on the sjw high school science project that ethereum or even eos is?

Ethereum is still the best thing we’ve got. You have to give it a chance. Anyway. Ethereum has funding for years saved up already. It’s not going anywhere only getting more improved and refined. A LOT of projects coming to fruition on ETH now. It’s quite undervalued.