/biz/ - Business & Finance

a)it does but not on eth 1 chain and whitout sharding/plasma
b) it doesn't matterr eth is not ment to be payment protocol you can do that with stable coins on eth 1

Your asking wrong questions like begginer lvl 1 shit -dig deeper (read about nightfall for start and see why they dont care is it 1 sec or 5 min transaction and how is eth as globald ecentralsied settlement platform usefull to them)

Gl

ETH 2.0 is coming!!!!! JANUARY 2020

>>15916762
>Does ETH have a solution for coffee cup scalability?
Technically BTC already does if you check for double spend

>>15916894
I don't get it, on BTC its 1$ per transaction and its never gonna hold that much data anyway, since the blockchain gets too bloated.
I have given up on BTC, its a great whitepaper but sucks as a currency.
I just want to invest in something I can believe actually has the power to kill fiat or at least Visa

>>15916875
what this anon is saying is true OP.

ETH has the intention of replacing the current financial solutions to markets. aka it is a platform to make things like trading, investing, derivatives, forex, dividends, etc all much smarter and automated through the protocols design

Use some shitcoin like dai or usdc for your coffee

>>15916762
>could handle all 1b transactions currently done in fiat money without a hard fork?
Yes, it can handle trillions and trillions of transactions

>>15916922
So its basicly not even meant for money in the traditional sense, but just a trustless replacement for systems that already exists?
Thats kind of disappointing, but makes a lot of sense.
Also makes sense to invest in LINK since it would solve the problem of putting real world data in a trustless stock market.
Only thing I'm worried about is that LINK isn't trustless but I guess normies won't care about that

>>15916932
Yeah you're right, although I still don't understand gas limit.
One thing though, is it really a decentralized currency if the blockchain hits petabytes?

>>15916963
Yes. Removal of the intermediaries like banks and the federal reserve. a consensus

>>15916998
Since this is turning into a really usefull QA, whats stopping any goverment or company from just setting up their own huge mining operation?
Wouldn't that allow them to decide who gets transactions through?
Like China could almost certainly outspend anyone on the planet and then have an almost monopoly on block size and transactions

>>15916978
>One thing though, is it really a decentralized currency if the blockchain hits petabytes?
Yes because Moore's law and shit

>>15917068
We're already at 40 atoms. I think its gonna be real problem. I hope a coin with apache cassandra style redunancy comes out, otherwise nobody can afford to store the blockchain

>>15916963
>trustless replacement
pretty much
I'm not worried about getting scammed/dealing with chargeback fraud when buying coffee IRL, so there's no reason to use a decentralized system when buying coffee

However, when trading online, scams/fraud are much more of a concern
Bitcoin was the first to deal with chargebacks, Ethereum will deal with more complex things like >>15916922
said

>>15917088
do you even into sharting

>>15917088
>I think its gonna be real problem.
Bro that's what they've been saying since 1993

>>15917144
doesn't that still require a hard fork? Which always end in disaster?

>>15917088
>a coin with apache cassandra style redunancy
You might wanna hold some Holochain

>>15917221
Is there even a point in buying coins that aren't even worth a cent?
At that point can't it be assumed that they are just vaporware?

>>15916917
Nothing haves power to kill fiat or visa at least not in our lifetime, btc got good usecase if your financial system sucks but for rest of world....meeeh its about pamping your bags and best usecase is going up

>>15916963
Yes and no.
Eth is money it just not basic payment protocoll as btc its much much more
Payment coins are DOA anyway noone needs alternative to current system if not imigrant or in thirld world country
Again wrong questions money is not issue deaht grasp and monopol on money by central
authorities is...
>>15917023
Wel lthats one of points of pos ulike pos so far with centralsied pos crap or masternode scams that anyone with just 32 eth can validate netowrk and cant be excluded
>>15917088
Thats why they want to shard...no blockchain can keep it up forever on mainchain

>>15917121
This.
Btc solved something thats usefull for limited number of people
Eth should just solve so much more middleman/centralisation problems

>>15917242
>Is there even a point in buying coins that aren't even worth a cent?
Well, there's this strange phenomenon in crypto that peple don't understand what mmarket cap is. They think "if bitcoin was worth cents in 2009, then my shitcoin one day could be worth as much as Bitcoin is worth today."
This is why shitcoins like XRP, Tron, and Cardano pumped to $1. So Holo could very well follow the same track and pump miraculously 100x.

Holo is still in alpha and barely works but there's a lot of developers working on it and it's moving forward. Check their GitHub activity. Do your own research bro.
Ethereum is a safer coin to bet but I have some Holo bags just in case.

>>15917211
why exacly hard fork is dissaster anon?
I mean yes miners could make issue about it and chain could pslit but thats the whole point of blockchain governence....

this thread has everything from level 1 beginners to legit knowledgable cryptopians.
If you're a retard sitting on the sidelines not really sure of things and have questions, now's the time to ask.
DAI is huge deal, don't neglect the appeal of having your assets remain stable while you prepare future decisions. The trustless market only has serious money being added into it due to the growth of DeFi and it's reassuring DAI peg.
For the foreseeable future, all meaningful trustless execution will be taking place on ETH blockchain, if you've been involved in crypto for a while and haven't seen the value in ETH and LINK yet you have no hope.
cool thread

>>15917242
its not about cent dolar or bilion per coin tis about markert capitalisation

Are we getting anywhere anon?

>>15917286
so crypto has no actual usecase that would justify its insane value? Thats kind of disapointing desu. Are we just hoping to cash out before the normies realize it or is there an actual ideal behind it?
I know BTC sucks since its just a beta but do you really think no crypto could kill fiat? Because once all the kinks are worked out I don't see how it isn't a better alternative in every way.

So you are basicly saying cryptois supposed to more like a replacment for a bank account but you still buy small stuff with hard cash and order with visa?

mate I think your keyboard is broken

Yes I didn't know about shard, that seams like an idea that should have been implemented on a coin 5 years ago. I'm just really worried about a hardfork and the big rich investornormies staying with the status quo.

The problem with ETH I think its a closed system, so generating events from a closed system is kind of pointless, even if its trustless.
I know that LINK is exactly the solution to this, I'm fomoing hard about it right now, but I am just really scared about investing in a non-trustless system.
I mean in Bitcoin having a ton of coins would allow you to at most affect the dollar price, but in link it seams having tons of coins would allow you disrupt the entire system.
Also their website is way too fancy

>>15917289
Goddamn I fucking I had more time to read up on crypto. I had 4k in btc before I went to university in 2017 but completly lost track of it.
I feel I have missed out on so much

>>15917314
Yeah you're right sorry for being retarded. I just assumed that if the price is 0.0001 the market cap is probably shit anyway

>>15917375
>so crypto has no actual usecase that would justify its insane value?
Current market cap for crypto is about $220 billion. That's NOT a lot of money.

Confirmed use cases:
1. Hiding money
2. Money laundering
3. Cheap international money transfers
4. Illegal stuff trade
1-4 alone are easily worth trillions of dollars.

Upcoming use cases:
5. Decentralized finance
6. Trading securities tokens
7. Tokenization of everything
8. Derivatives

>>15917375
>so crypto has no actual usecase that would justify its insane value
Yes and no again:)
Freedom and decentralisation are worth everything problem is noone haves any fucking idea how to value anything whitout no company revenues and shit. So prices are voaltile, all over place and fundamentals are not allways coorelated whit price.
>Are we just hoping to cash out before the normies realize it or is there an actual ideal behind it?
I hope to make money by staking my eth and link and live in web 3 world where i own my own data and shit.
>I know BTC sucks since its just a beta but do you really think no crypto could kill fiat?
No at least not during our lifetime.
But torrents didnt killed film or music industry monopol and yet they made it that you can watch neflix for 5$ month instead rentinng dvd buying cd 10$ peace right?
Btc is fine its problem it solved is huge its jsut it kidna swaped fundamental value for spiritual last few years. Its still msot battletested and secure crypto.
>So you are basicly saying cryptois supposed to more like a replacment for a bank account but you still buy small stuff with hard cash and order with visa?
You are still stucked in payment coins mentality this shit can be MUCH more.
> mate I think your keyboard is broken
man on phone sorry
>I know that LINK is exactly the solution to this
Ya link is best solution for big oracle problem they comed up so far, you are not decentralised if data is pulled from central source

But for real start reaserching smat contracts instead money repalcmens thats real redpill and inovation here

Gl op

>>15917420
>Confirmed use cases:
1. Hiding money
2. Money laundering
3. Cheap international money transfers
4. Illegal stuff trade
1-4 alone are easily worth trillions of dollars.

Upcoming use cases:
5. Decentralized finance
6. Trading securities tokens
7. Tokenization of everything
8. Derivatives

This
Now op go google whats the worth of derivates market and come back tell us how overvalued crypto is

>>15917420
For people always telling me how terrible 4chan is, this thread has been great.
Guess I'm still way to small minded for crypto, I was always just thinking of it as credit card replacement.
Thanks man

>>15916762
I bought this shit high about a year ago when do I get my money back

>>15917478
Big banks response to sending money free/fast (less than 2 minutes):

Zelle

>>15917481

cha/biz is cespool of streetshirts and scamers but every once in while you will dig mindblowing gems and info you know because its last public free speech palce on web so no wodner crypto took over biz 100%

And yes think big isue is name cryptocurrency and currency in name it confuses so much newbies in space

>>15917458
>Freedom and decentralisation are worth everything problem is noone haves any fucking idea how to value anything whitout no company revenues and shit. So prices are voaltile, all over place and fundamentals are not allways coorelated whit price.

See >>15917481 and thanks

>I hope to make money by staking my eth and link and live in web 3 world where i own my own data and shit.

Goddamn sometimes I wish I was one of those crazy mfs who just take out loans on crypto and just an hero when they loose to hard. But I'm just a pussy crypto nerd

>But torrents didnt killed film or music industry monopol and yet they made it that you can watch neflix for 5$ month instead rentinng dvd buying cd 10$ peace right?

I wish I could see wether bank account interest goes up or down once btc attracts a critical mass (2-5% of people in the west) of users

>You are still stucked in payment coins mentality this shit can be MUCH more.
>>15917481 again

>Ya link is best solution for big oracle problem they comed up so far, you are not decentralised if data is pulled from central source

Theres probably no other way to get a smart contract stock exchange or similar going, with is why I hope I can drink enough courage today to go hard into link. Stupid fucking memers have me scared though.

>But for real start reaserching smat contracts instead money repalcmens thats real redpill and inovation here

Yeah the more I think about the more it makes sense. I just really needs oracles in order to be usefull.

>>15917595

Just dont take out loan and fomo hard this shit is just startings -start by educating yourself and doing small gambling investments you are still early

Gl bro

>>15917661
Hasn't LINK been out since 2018? Not that early. People have already x15 on it

>>15917674
September 2017 it came out

>>15917674

People 12312312321x on btc and 13323123x on eth x15 is nothing if sc economy works out next decade

Acually forget btc and eth absolute scams did 2313123x during fomo and bullmarket times so...

>>15917674
>>15917674

>Anons fomoed hard in eth 2016 during DAO hype and dao hack happend crashing it hard
>Anons fomoed hard in eth 2017 during ico hype and when ico scamms started cahsing out crahed hard from 1300 to 80
>Anons are now fomoing in eth on defy hype i bet eth moons and crashes after some kind of mkr hack or dai losing peg

So no rush, everyhting is stll tested, everyone building and experimenting eth is decentralsied turing complete ledger and every 1-2 years new usecase pops out and fomoes everyone in just like internet back in the day.

Link...link cant fail did you saw sergy shirt?????? :)

>>15916877
0xBitcoin to the moon

>>15917785
Is that pic saying that link represents all the gay contained in er20 tokens?

Is eth a security? Does classification as a security matter to me as a burger? It seems that as an investment, it is largely dependant on the work of vitalik and other eth devs. Can they change the inflation rate and total supply at will?

>>15916877
>ETH 2.0 is coming!!!!! JANUARY 2020
yet another pathetic eth bagholder pretending that eth is going to scale in early 2020 with the release of the PHASE ZERO subcomponent of ETH 2.0. It's not. nothing will change.
>completed ETH 2.0 is multiple years away pajeet
>completed ETH 2.0 is when you have your scaling.
2022
2022
2022
2022
2022
2023 more likely
2024 even more likely
and it's still unlikely that they'll figure that shit out

>>15917313
>For the foreseeable future, all meaningful trustless execution will be taking place on ETH blockchain
jesus fuck you bagholders are deluded as fuck. why is the reddit eth army shitting up biz today?

>>15918853
>Can they change the inflation rate and total supply at will?
yes. and they can roll back the chain at will as they have proved in the past because some rich friends holding fucktons of ETH got robbed due to flaws in ETH's design. sounds secure and sounds like an upstanding group of selfish fucks.

>>15917023
>Like China could almost certainly outspend anyone on the planet and then have an almost monopoly on block size and transactions

pssst. here's a hint buddy. they do already.

ETH2 is going to crush all competition. "ETH Killers" on suicide watch hahahah. Imagine not buying below the multi year moving average. it will cost 32K to run a node.

>>15916762
>Does ETH have a solution for coffee cup scalability?
No. They won't be able to scale enough to take all the blockchain defi stuff and it's only starting. ETH and a few others will run smart contracts but it won't be a winner take all and crypto will never be money

>>15919403
ETH 2 isn't here until 2022 faggot. that's 2+ years of waiting for eth 2 to kill the competition. probably will tahe 3-5 years. eth has never delivered anything on time

>>15919453
bwuahahah you literally have no idea what youre talking about. eth1 will implement POS-finalization

>>15919327
>>15919347
>>15919363

What eth killer no 234234 you baghold anon

>>15919471
it still WILL NOT SCALE dumbass. jesus fuck you reddit cucks are stupid

>>15919513
no arguments. i get it, facts hurt... facts kill the eth shill

>>15919536
What facts anon its random bllshit everything you sad escept "it can be late".
It can-so what?

You are to new and cant member days fud revolved around eth will "never deliver mainnet" and "icos and smartcontracts cant be done" lol

again what random shitcoin are you bagholding anon :)

>>15918074

>>15919587
ETH 2.0 completion is slated for 2022 dumbass. that's not oate, that's ETH 2.0 if it is ON TIME. ON TIME IS 2022. absorb that fact into your microbe sized brain. will eth 2.0 be delivered on time in 2022? kek
>i'm sure there will be no further delays
riiiight. that means that until eth 2.0 is successfully completed in 2022 or later nothing can succeed on ETH... and crypto kitties part deux would still bring the network to its knees in 2020, in 2021, and even in 2022 until eth 2.0 is completed.
>i'm sure there will be no delays beyond 2022 planned completion date... mmmmm hmmmmm
and defi is just going to go nowhere and wait for ETH 2.0 to be finished? that's your bagholder moon vision? jesus fuck anon. reddit is calling you. you are too fucking stupid for this board

Are you ok anon?
I just typed "there will probably be delays, so what?" and you are spazzing...

>>15919670
>and defi is just going to go nowhere
cope harder son

>>15919823
and once again no arguments. the prototype reddit shill in full glory.

>>15919858
Ok you have issues of at least reading comprehension

Gl anon

>>15919849
tell me anon, how will defi succeed on a platform that is crippled by cryptokitties level traffic? you think that defi will localize to a non scaling platform and hope for better days in 2022?
>always accuse others of what you are guilty of
the bagholder way

>>15919871
>the absolute state of the leddit eth bagholder
you don't belong here

>>15919888
> the system is in high demand therefor is worthless
this is honestly such retard level weak FUD. at this point compared to CryptoKitties utilization is higher now yet transaction prices are still lower. CryptoKitties contract is inefficient was really the first of its kind and simply pioneered the revolution. you have literally no idea what youre saying
>you think that defi will localize to a non scaling platform and hope for better days in 2022?
The evidences suggest this, yes

>>15919327
0/10 bait kek

>>15919897
You're damn right I bag hold ETH, I also bought them all at around $12 a piece, I'm sorry your ETH destroyer EOS project is a glorified centralized database and is a pile of shite, the fact that you're in your shit situation says a lot about how retarded you are.
I bought ETH so I could write smart contracts, I bought LINK because I needed them to initiate on external events.
I don't trade like a faggot FOMOing with pennies, good luck anon, you're going to need it because you're a retard