/biz/ - Business & Finance

>>16918086
:DDD

>>16918086
And why do you think an indication that a bunch of people made trades means that the price would go up?

>>16918086
wash trading

>>16918102
Because yes.

>>16918086
calm down, wait for PoS.

>>16918126
https://www.youtube.com/watch?v=Ym4e86DrICo

>>16918129
PoS will kill Ethereum, as it violates the laws of thermodynamics.

>>16918191
just like asymmetric cryptography does?
How much money do you spend to defend your public key from being broken?

are we going to see more interesting dapps after Ethereum 2.0? or just another wave of dice rollers, exchange tokens and collectibles?

>>16918201
You do not understand what you are talking about, and your arguments reflect that. Proof of Work is infinitely better than Proof of Stake. Proof of Stake is doomed to fail. You have the fucking Bank for International Settlements, practically shilling Proof of Stake and saying that bitcoin NEEDS to move from Proof of Work to Proof of Stake to succeed. And I kid you not, they come to the conclusion that "Institutionalism is the key to efficiency in blockchains". So all in all, PoS good, banks good, PoW bad.

>>16918086
What is even the real use cast of Ethereum classic?

>>16918293
>Proof of Work is infinitely better than Proof of Stake
>Proof of Stake is doomed to fail

>>16918323
Name one successful PoS blockchain

>>16918333
Name one PoS blockchain that failed faggot. I already asked a question
>muh thermodynamics
>How much money do you spend to defend your public key from being broken?

>>16918323
And tell me, what makes PoS better than PoW? I'm waiting.

>>16918342
Ark, Decred, Neo, just to name a few, I could on and on all day

>>16918129
>wait for PoS.

Lol, you do realize they will be issued a new token for Ethereum 2.0 right?

Imagine thinking this is bullish for the price appreciation of Eth 1.0

>>16918342
You can't spend money to defend your public key from being broken you absolute retard. Unless you mean spending $0.50 to send your BTC to a different public key.

>>16918376
Not just a new token, it's a whole different chain lmao. Anybody buying this shit deserves what's coming

>>16918356
Neo is not even PoS, it's PoA, Ark and Decred are DPoS, and all three are still working.
Double-spends happened ONLY on PoW blockchains, like bitcoin (2013) or ethereum classic
>>16918376
>Lol, you do realize they will be issued a new token for Ethereum 2.0 right?
Who is they? Initially eth2 is generated by locking in eth1, but in a year-two the networks are going to be connected and ethers merged
>>16918384
That's the point. It doesn't "violate the law of thermodynamics" to have something that's secure without continuously wasting resources on it.

>>16918313
>What is even the real use cast of Ethereum classic?
0 replies, thats what I thought

>>16918425
the chart is for ethereum

>>16918356
>Ark, Decred, Neo
These blockchains didn't fail.

chart has to repeat same pattern! people will buy because it’s same pattern !! look look the chart looks like it looked at some point so it must go up now too !!!

>>16918468

do not doubt him.

biz is the home of TA geniuses who have made 100s of millions from reading charts. I'm sure they will be willing to show your their record of repeatedly making correct calls like this if you ask them

>>16918086
OP LOVES COCK

>>16918445
From an economic and security point of view, I would argue they have failed. But then again, our criteria for what is a failure is purely subjective.

>>16918404
He's not talking about the security of your public key, he's talking about the process in which new bitcoin is created. With PoW energy is effectively being converted into BTC and that gives it value, but with PoS newly minted coins are literally created out of thin air so they have no value.

>>16918677
lmao with PoW its also being created out of thin air, in fact most btc were created when the network was using like 1% of the energy it currently uses.
You do realize that if only 1 cpu was mining btc in the world, consuming like 60W, the same amount of btc would be getting created?
In essence, its all a big ass scam and you all fell for it

>>16918086
bruhh I love tik tok :joy: :joy:

>>16918677
>we created money outof thin air based on a set of rules decided on my someone other than network participants
PoS is just the crypto version of the fiat system

>>16918695
>in fact most btc were created when the network was using like 1% of the energy it currently uses
And the price back then was something like 0.001% of the price it is now. The value of BTC is a function of how expensive it is to create and how expensive it is to attack. If only 1 computer in the world was mining BTC its value would be $1 like most other centralized shitcoins

>>16918789
not really, it is driven by speculation of buyers/sellers, which drive price up because of the limited supply, which causes more people to jump into mining thus diff rising.
It is no different from any pow shitcoin, btc was just the first

>>16918789
>>16918839
its the chicken vs egg problem, which comes first the network's hash power or the price?

>>16918677
>With PoW energy is effectively being converted into BTC and that gives it value
Is shit worth more when you strain to make it?
the energy is not "converted", it's being wasted at an enormous cost to buyers

I'm gay and I hold a POS coin

On the one hand locking ETH up in DeFi constrains supply and there's a lot of that going on.
On the other hand the realisation that most intensive computing will be done off chain and then bundled and attested on chain means that Eth's value as transaction "gas" has been massively diminished.

Based

>>16918677
Holy fuck tell me this is bait. Energy consumption is not what gives Bitcoin its value. Scarcity, security, and supply/demand economics are what gives Bitcoin value.

>>16920434
I've seen this "cost of electricity gives Bitcoin its value" argument before and it's so cringe.

>>16920509
I'm just gonna keep the lights on and use as much energy as I can so my house will be worth more!

>>16920535
Solid logic.

>>16920535
More hashrate means more security, no waste. You leaving your light on does not secure a public ledger.
Your failure to see this obvious difference is what is cringe. Bitcoin has the most secure ledger.

>>16918086
>newfags won't get this

>>16918191
Oh my god the brainlet is back. I thought we disproved your bullshit already

>>16920434
>Scarcity, security, and supply/demand economics are what gives Bitcoin value.
Energy gives bitcoin its security. Which gives it its value, which gives it its security etc etc. When Ethereum switches to PoS nothing will give it security.

>>16920434
Sarcity doesn't mean shit if it's not secured. How the fuck is scarcity enforced if the ledger isn't secure?

>>16920596
You didn’t disprove that argument at all.

>>16920596
I'm the guy you from last night, not that Anon. Sup fag?

>>16920596
I am Mr. Eth PoS is a Peepee poopootual motion machine guy.
You didn't disprove shit. Time will reveal his little you know as you lose your savings in the endless inflationary bullshit you adore so much.

>>16920604
>>16920597
Are you implying you will be able to print ETH once it becomes PoS? By all means try.

>>16920672
No, I'm talking about the endless inflation issuance that its PoS scheme will be using.
Civilization always uses whatever is most distributed and hardest to produce as currency, except for when government gets involved. Inflationary money systems always collapse because endless supply growth is unsustainable through time.

>>16920702
You realize that the rate of inflation for ETH will be passed by BTC at some point right? I realize that there is a hard cap on BTC, but until that hard cap is hit it really doesnt matter if it exists or not.

>>16920764
Bitcoin's inflation rate goes below gold's in about eight years, about 1% a year and will continue to drop.
What is Ethereum's inflation rate in eight years?

>>16920790
Hard to say at this point, but BTC will have a higher rate of inflation within your lifetime. Probably sooner than you think. Math is hard, isnt it?

>>16920823
1% of a scarce pie is still smaller than 1% of a huge pie, not to mention all that front loaded inflation will be going to large stake holders, and ETH had a premine.
But yeah, I'm so bad at math and game theory.

>>16918086
You have to be a brainlet to not be buying eth right now before the eth2 launch .

>>16920958
>implying you arent bad at math and game theory
The premine and front loaded inflation are priced in already Einstein. It already happened. Figure out where we are on that curve, then get back to me.

>>16918086
>fake volume
yeah boi

>>16920985
Too hard for me. Spoon feed me since I'm a brainlet.

>>16921001
No thanks.

>>16921023
So where is the inflation rate defined? Is it locked into the protocol such that no one can change it, as is the case with Bitcoin?

>>16921059
It is not. They recently just increased the inflation rate to about 4% up from like 2%. So it's still at the whim of devs but the trajectory so far is still heading lower and lower. Just not as fast as they promised (typical for them just look at how long ETH2.0 is taking)

>>16918239
Kek, he doesn't know DeFi is a dapp.

>dig dog
>:DDDDD

Threadly reminder: Bitconnect was Proof of Stake. Defi is literally the same bs as Bitconnect. Hodl a premined shittoken until who ever created the premined shittoken dumps their fat loads all over your face.

>>16920585
Hashrate secures the network by making attacks expensive. You can replace hashrate with proof of stake, which also makes attacks expensive though without wasting away tons of energy in the process.

>>16921923
Bitconnect was a centralized piece of shit, it's not a.valid example.

>>16921923
I love your garbage logic. Bitconnect was a cryptocurrency so all crypto is a scam.

>>16922063
Premined shittokens are centralized. Stop falling for the "dapp" meme. It doesn't exist.

>>16922070
Unironically less scammy than some of these premined shittokens sadly.

>>16922195
>daoos don't exist
You're clearly in denial.