/biz/ - Business & Finance

Unironically bullish

Listing ETC so they could dump their bags will come back to haunt them in a few years.

>>12368966
It already has, coinbase is a complete joke already

>>12369066
this

>>12368966
Double checked actually very nice

>>12368914
Probably using nicehash.
Pow really isn't very secure.

>>12368914
Imagine buying an outdated version of ethereum with literally no good ico

LMAO I JUST bought 1 ETC afew minutes ago (my first crypto transaction) for shots and giggles for real

>>12368914
LMAAAAAAAAOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO

KEK

>>12369169
What made you choose to do so? Just curious.

Wew

probably shillbert upset that his scamchain failed miserably

>be coinbase
>list a dead shitcoin to dump bags on your customers
>shitcoin gets abandoned by devs
>shitcoin gets 51% attacked
>don't be coinbase

>>12368966
same with shitcoin cash
they should have never went into that territory

This garbage should be dumping harder. I guess nobody even cares anymore.

>>12369423

>>12369169
same i did the same just fucking yesterday

>>12368914

You know what miners can't double spend?

XRP

Brian Armstrong needs to be forced out by CB's investors.

>>12369535
Why are XRP bagholders the most butthurt of all? They talk shit about about Coinbase constantly while simultaneously begging to be listed and their only actual gripe is that they weren't let into the club earlier. You mad. We get it. Just grow a pair & STFU about it already.

>>12369535
yeah XRP can't be double spent because it's completely centralized

>>12369669

that sounds like a good thing.

>>12369669
My USD bills in my physical wallet also can't be double spent.

>>12369675
so buy it then. you'll like EOS then too.

>>12369669
>negative IQ: the post

>>12369535
XRP does whatever it wants because it's an excel spreadsheet and not a blockchain
in other words: a complete scam

>>12369762
It's more decentralized than china-coin or any of its derivatives. Stay in denial and stay poor though. Who cares.

>>12369535
Yeah he does need to be strong-armed outta there.

>>12369762
Excel can transfer money internationally?

>>12369821
>>12369924
lmfao ripple will just make up a billion coins and dump on every bagholder on the planet
stupidest fucking idea of all time goes to "centralized private blockchain"
basically stealing money from retards

>>12369066
Tpbp and checked

>>12368914
this is not a joke, ETC has over 500 mil MCC. This is only going to hurt crypto even if I hate ETC, fucking shitcoin.

>>12368966
they lost all credibility when they added roger vers scam to their platform.
the kikes running coinbase dont give a fuck about anything else except their own wallets.
they list assets just to insider trade them.
most corrupted kikes in crypto tbqh

>>12369226
Always seen a few things here and there about crypto. I knew /biz/ talked extensively about it too. Decided to see up a wallet with bitconnect or whatever and bought the cheapest one that might somehow in a million years be worth the 6 bucks.

>>12370890
good job. you bought an outdated version of a platform that will become the global supercomputer. Meanwhile, your holding will go to 0.
Congrats on this. Seriously.

>>12368914
Yup and they were forced into admitting it by twitter fags

>>12371084
Let it be known I shall own $5.14 worth of the supercomputer tho

>>12369114
Yikes

10000 XRP costs only 3600$

just sayin'

>>12368914
They should fork it again pre-double spend

where do we report cuck coinbase to SEC for fraud and security manipulation ?

>>12368914
whats a 51% attack

>>12371790
LINK too

AHAHAHAHAAHAHAHAHAH


I HOPE THE MENTAL KEKODS HOLDING ON TO THIS ABANDONED RELIC LOSE ALL OF THEIR FUCKING MONEY

>>12371817
Its the same as meeting a 56%er

>>12369423

ETC needs to die. Too many shitcoins in top 30. Many of them need to disappear.

If the US government or whoever got pissed off at cryptocurrency for some reason wouldn't it be trivial for (((them))) to rent a bunch of asics and permanently shrek the bitcoin blockchain? I mean if it's only $319,703 to 51% BTC for one hour that's like what, the cost to fly an F-35 for one hour?

Pretty sure they'll do this some day.

Instead of laughing at ETC, ETH holders should question why ETH is delaying the move to POS and at the same time reducing the mining block rewards. These actions could make ETH itself more vulnerable to a 51% attack in the future as more rental hashrate becomes available due to the proliferation of ASICs.

>>12371135

>>12369704
if youre one of the traditional mega bank youre allowed to double spend

What's the point of buying Hard Forked coins ? ETH >>>>> ETC or any other hard fork that will happen . Same thing with BTC >>>> Bitcoin Vishnu and all other crap forks

>>12369924
Yes.

>>12368966
>>12369066

Coinbase might be behind it. They've dumped they bags, now they need an excuse to delist the shitcoin.

>>12372928
makes no sense they would start with classic and not bcash first, which causes much more negative attention to coinbase.

>>12372928
yeah mate, the legitimate business making legal money off you is going to get involved in exploiting a vulnerability to manipulate a currency. Jesus there are some retards here

>>12368914
>next is Ethereum
my shittokens are in Ethereum FFFFFFFFUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUU
then Bitcoin
only one is immune as such attackers would be recognized and rejected no ddos possible

>>12372945
Bcash has a much larger community and there's still chance its price go up. ETC is pretty much a dead coin at this point.

>>12372976
LMAO found the coinbase shill.

You have no clue of what goes on in crypto. Manipulation is rampant. Coinbase is not a 'legitimate' business. It's just a bunch of crooks who will do anything to put money in the pockets of their shareholders. The only reason they listed ETC was to dump millions of coins in retail investors who can't tell the difference between ethereum and ETC.

test

>>12372091

You will have to sustain the attack and waste millions to billions in electricity to what ends? A new coin will just pop up later and become hardened to the attack

>>12368914
rip

>the real eth
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

>>12369715
>nuhuh, it has twenty nodes!
It's centralized.

>>12371817
Holy shit, is this the state of /biz/ now?

>>12368914
Bad PR for coinbase. Caught playing the censorship game with the gab and WikiLeaks ban and now this. I guess it's karma for being a Jewish company

>>12369715
fuck off kike

>>12371817

>>>/r/ripple

>>12369762
this tbqh

>>12369714
XRP and EOS are both more decentralized than shitcoins like ETC

>>12368914
Yes Sirs, this is why you should buy Ethereum Classic Vitaliks Vision. Dr Craig S Wright is the REAL Vitalik Buterin, and he will restore Ethereum to its original glory. You Blockstream shills won't distract me lmao. Do the needful Sirs.

>>12369641
You act like all of us are holding bags. Most of us are well above buy-in.

>babbies first reorg
this happens all the time

>>12371817
It's where 51% or more of the token holders have a meeting and vote on a block reorg, essentially hard forking the chain and accepting the new fork. Didn't you get your invite to the livestream? ETC holder here, I voted yes

>>12369669
Found the dumbass

>>12369114
Does anyone know: is this a flaw of PoW?

>>12374736
Yes. All transactions are mutable in PoW because two miners could (unintentionally in some cases) mine different blocks at about the same time. To prevent a permanent chain split one of the blocks has to be rolled back. This creates the "51% attack" where a new longest chain can be secretly mined and broadcast to the network at a convenient time to double spend.

Therefore PoW should be thrown in the trash heap where it belongs. Not scalable, not secure, not decentralized.

>>12374764
PoW is king, ETC(ETH) is a DAG
it is inherently asymmetric it is not a true blockchain

Blockchain - PoW
DAG - shit
Hashgraph - steaming pile of shit

>>12374764
The ability to fork/split is a good thing thirst and foremost. You have your vision of a chain, you can have it. If it is seen as positive, people will back you and the shitty status quo chain will die.

It is the best currently, with attacks costing a fortune to attempt. Not that one person can hack around in the protocol and break it.
Perhaps avalanche might prove itself better in the future. No other contender available, and ones claiming to are talking out of their ass and usually have a horrible track record as far as honesty is concerned.

>>12374782
ETC is a DAG?

>>12374819
Directed Acyclic Graph

>>12374796
>The ability to fork/split is a good thing thirst and foremost. You have your vision of a chain, you can have it. If it is seen as positive, people will back you and the shitty status quo chain will die.
You don't have to create the 51% attack vulnerability to have your own vision of a chain. Even if you did, PoW still doesn't give you that freedom, because if you can't incentivize millions of dollars a day in PoW then your chain won't be secure.

Just saying that attacks are expensive is not good enough. A network worth tens of billions of dollars can't rely on incentives for security. Especially when there are much simpler options available that solve the problem for free.

>>12374823
thanks, is there a difference though with the likes of IOTA or constellation? These are always promoted as a different method for blockchain, just surprised to hear ETC and ETH are dags

>>12374852
PoW is a
method of distribution
method of governance (might is right)
method of securing
method of avoiding democracy

only Pow coins are able to survive hard times, mkay

>>12374856
You're surprised because they're not

>>12374856
if it is not PoW then it is shit
it has to have real world value

PoW means, the blocks are produced by a miner
Master nodes are not staking

Staking is when the block is produced out of nothing.

If you have 1% reward for the miner and 99% reward for master node it is ok.

But the block of a blockchain has to be produced by a PoW miner or other means, maybe proof of capacity or proof of network. Any means that are real world commodity.

>>12374861
>method of distribution
A poor one. The rich invest in more asics and get richer.

>method of governance (might is right)
Like a government? Might is right is a terrible way to operate. Maybe they decide not to process your transaction or threaten to stop mining (weakening security) if you don't support the changes they want.

>method of securing
As long as the "good" miners are willing to continuously spend more money than any would-be attackers (to the tune of billions every year), then it will probably be secure. Probabilistic security like this should be avoided.

>method of avoiding democracy
Dictators are good as long as they do what you want. Cross your fingers.

>only Pow coins are able to survive hard times, mkay
What do you mean by hard times? How does the fact that billions of dollars are being sucked out of the ecosystem every year help it survive anything?

>>12374885
suck on it liberal

eat shit liberal

hack me if you can liberal

democratic liberal

you are not going to make it liberal

>>12374890
No answers? Definitely not a liberal.

>>12374869
yeah I thought so cheers

>>12374872
yep I know the principle of PoW and PoS

>>12374922
> The rich invest in more asics and get richer.
Unironically the rich support the price and they are rich because they are long term thinkers that will support it no matter what

> decide not to process
Then a competing pool will process them and get the money from the TXs. That means you have zero incentive to censor.

Might is right, forever and ever.

PoW because it is supported by the long term thinkers will attract the speculator that will pump it and get dumped on. It all balances is a perfect symphony.

While staker coin will pump at the start and then always go into death spirals.

Sell your ETH at the top of the staking mania.

>>12374872
Gonna be hilarious when all the serious projects go PoS and all you brainlets are still holding the chinky PoW bags. Get rekt

>>12374948
Get rekt you shall commie.
We the based PoW are just fine.

>>12374957
There is nothing communistic about PoS you fucking moron. Where do you brainlets get your info from?

>>12374974
hey hey hey
show us one good chart of a PoS coin

>>12374946
>Unironically the rich support the price and they are rich because they are long term thinkers that will support it no matter what
They put constant downward pressure on the price by selling their block rewards to cover the electric bill. They are not "long term thinkers". They only care about making as much money as possible. Their interests are not aligned with that of the users.

>Then a competing pool will process them and get the money from the TXs. That means you have zero incentive to censor.
Only if you forked over enough money for someone else to process it. If not it could sit in the mempool for weeks. Very poor short term censorship resistance. We do not need a system of rotating dictators.

>>12375003
your second point is mute and void

first point
to have a currency you have to have incentive to bring the currency into the real world. With PoW some of the miners do have to sell and that makes sure some supply will be available at competitive price. In PoS you have no incentive at all to sell, therefore you do not have a currency because it is not flowing.

But the miner since the start is looking at 3 years cycles at the shortest. Many miners mine to speculate they just what coins at the cheapest possible price, to dump on rallies and that balances the price.

The market is too small, but it will mature and saturate.

>>12374979
>mid bear cycle
>oy vey! show a good chart, goy
sounds about kike

>>12374979
Have a look at chainlink

>>12375044
we are still in pre pump phase
this is the peak of the raven pre main net

when main net launches you are looking at 99% retrenchment, it will literally be 50% under the ICO price

Final confirmation that miners will move to ZIL after ETH fork

>>12371948

Guilty

>>12372354

ETH is the fork you nigger

>>12371817
what happens if over half of the miners just say fuck it

>>12375198
or rather their ability to mine gets hindered

>>12375198
if they leave
block block time will temporary be double the time, retargeting and all is good

if they attack
then they will be able to extract some value, until it is found that this is happening

since blockchain is a simple file, the remaining miners might choose to start prom a previous block and move on, abandoning the malicious blocks, in that case, the exchange and some unlucky fucks are holding the bags

LMFAOOOOOOO

Who else bought the dip?

>>12368914
LOL!

WHAT THE FUCK I spent 10 000$ on buying these coins. Withdrawal is disabled on Coinbase. How do I get refund?

>>12375999
you're not is how

>>12376041
>>12375999
* immutable blockchain. what happens happens, no rollbacks
right?

>>12376050
>>12376041
** honestly don't know anything about this attack don't listen to me

but fucking kek that they chose the 100% immutable etc to attack.

>>12376050
FUCK YOU it's a thievery. All who use crypto must get JAILED lifetime then

>>12376065
>I bought a heavily speculative financial product of questionable quality and got ripped off
>where is my refund
LOL

what's the point of doing this? to instantly make their ETH worthless because nobody will ever use it from now on?

>>12376065
Huge boner if not bait.Normies and kikes suffering fills me with joy.

>>12376065
afaik coinbase has closed withdrawals (so they can't get stolen). that does not mean your coins are gone.

>>12376092
>afaik coinbase has closed withdrawals (so they can't get stolen)
that's not how distributed ledgers work, but i'm sure it will calm down the absolute technical illiterates who buy crap like this

>>12376100
why not?
after this attack the blocks are reorganized and we no longer knows who owns what coins.
the coins on the exchange are still linked to the traders's id aren't they?

so rollback the blockchain, and refund the lost coins and all will blow over like in what happened with eth's dao. also fuck immutability if devs can't protect the chain

>>12374446
he's talk about newfriends, both here and on twitter. The majority of people that bought into XRP did so in the last year or two with the majority of those people having done so at a tremendous loss

>>12376117
a 51% attack is working-as-intended. It's simply the longest chain and nobody can protect you against that.

>rollback the blockchain
>ETC
lol. imagine being this blissfully retarded

>>12376128
>lol. imagine being this blissfully retarded
I think that's what they should do in this case. they will never do it of course. and their immutable blockchain philosophy is useless if they can't protect their users from 51% attacks.

>>12371790
xrp already had its parabolic run where it went up
Another meaningful run would literally require actual adoption.

Even with their token inflation mechanism the volatility simply makes it not functional for its intended purpose.

>>12372091
They don't need to rent, they can seize anything they want if it can be vaguely related to "national security"

>>12375153
unironically this

>>12368914
AHAHAHAHAHAHAHAAAHAHHAHAHAHAHAHAHAHAHAAAHAHHAHAHAHAHAHAHAHAHAAAHAHHAHAHAHAHAHAHAAHAHAHAHAHAHAHAAAHAHHAHAHAHAHAHAHAHAHAAAHAHHAHAHAHAHAHAHAHAHAAAHAHHAHAHAHAHAHAHAAHAHAHAHAHAHAHAAAHAHHAHAHAHAHAHAHAHAHAAAHAHHAHAHAHAHAHAHAHAHAAAHAHHAHAHAHAHAHAHAAHAHAHAHAHAHAHAAAHAHHAHAHAHAHAHAHAHAHAAAHAHHAHAHAHAHAHAHAHAHAAAHAHHAHAHAHAHAHAHA

>>12368914
LMAOOOOOOO

>>12375919
bought the top as usual.

>>12376142
>muh decentralized currency
>centralized party pls help!

>2019
>not realizing there are pool resistant coins

>single eth pool got bored and killed off that shit in a day
This is literally the reason why eth going PoS.

>>12377774
I think i know what you mean.

>>12377787
kek you know that miners will switch to ETC after the fork that mean ETC will more secured than ETH

>>12377898
this

>>12377898
>miners will switch to etc
bwahahahahahahahaha