/biz/ - Business & Finance

>>21233580
ngmi

>>21233580
scam

They do nothing

>>21233580
Stay poor

it's literally a pyramid scheme

>>21233580
God I feel so bad for people who can't grasp the concept of crypto, i really really feel for you man fuck I almost starting to feel bad because i can empathize how much money you're missing man u will forever live in ur nigger slum while ill be on private jets enjying my air conditioned cool wine and cool family on airplane with nice house on the beach bro.. never potst again on these forums again bro and by bro i mean never my bro phucking phagot

>>21233580
You’ll fit right in

>>21233602
>>21233604
Only if you have nothing to invest and seethe about others who do.

>>21233580
Remember that Lambo problem you had a few years back? Cryptocurrency solves that for you.

>>21233650
based pajeet

>>21233599
i have link
>>21233650
it's not that i can't grasp it, i've just literally never attempted to research them or anything. i just listen to /biz/

>>21233580
They solve the Jewish Question

>>21233632
It's not, dumb fuck.

>>21233580
They sometimes increase in value

I treat it like stocks
As in, I have no idea how it works, all I know is I put money in, and then green line goes up, then I have more money
Rinse and repeat, theres nothing more to it

>>21233580
Line go up, what part don't you get.

Number go up

>>21233580
crypto are a bunch of nerds scaming chad online with imaginary money that can't be used in real life.
Essentially they create a program that does nothing in the real world, we imagine that it does something, throw some dollars to it and puff! now every imaginary coin is worth $12

>>21233729
Right pajeet

I don't get the concept either behind crypto either.

Other than a currency that can't be fucked with by the government to prop up donor industries.

All the other "benefits" I've been told seem pretty meaningless really.

>>21233679
with bitcoin. Meanwhile, Ethereum exists for those who know.

>>21233912
Nerds are the reason we have advancements in technology on revolutionary scale, the majority of people (dumb people) can only retrospectively realize that something is a good idea. Smart people know before the revolution happens that its a good idea. When crypto changes the world and its paradigm, people will look back and say "ofcourse, it all makes sense" but what they dont realize is that they only agree because reality has arrived, be smart and realize reality before reality hits, make good investments now for your future

Literally just a fun way to Btfo the Jewish banking system

>>21234055
>When crypto changes the world and its paradigm

The elite issuing their own currencies? We've had this before in the past.

>>21233580
And if anyone needed confirmation, this board , including OP is a waste of time and full of actual idiots. Don't waste your life surrounded by ignorance.

>>21233729
>>21233830
sir buy the right coin and many moons sir!
but hurry, you have to buy now!

>>21234119
Crypto solves the jewish banker problem, what do you mean?

>>21233580
same

>>21234057
What makes you think crypto is going to fuck over Jews?

I'm willing to bet even more money will find it's way into their pockets.

>>21234157
What problem do they create that crypto "solves"?

I notice that no-one has actually explained what it does.

>>21233990
this but the opposite

>>21234211
>>21234287
I have noticed that you ask questions here expecting to be spoonfed, you realize time is valuable for adults right? Do your own research if you really want to know about it and learn

>>21234347
I have. Fucking confusing and underwhelming answers everywhere I look.

>>21233679

KEK.

>>21234372
Banks can cheat you, blockchains cannot.

I'm guessing the answer is that crypto allows us plebs play around with wallets and speculating, while the rich make a killing cutting out some middle men.

I have some money in my paypal (20 US) and I want Bitcoins.
Set up an Electrum wallet, search in Bisq... but I live in a third world country (no Banks, no ID... nothing)
help ;_;

Me neither I just put $5000 into LINK back in 2018 for the lolz and it’s now just shy of one million dollars

>>21234500
How can a bank cheat me?

>>21234543
>search in Bisq... but I live in a third world country (no Banks, no ID... nothing)
>help ;_;
Wait for the Stakenet DEX to launch and you won’t have to worry about that gay shit anymore.

>>21233580
Me neither, I just buy whatever scam is the most shilled on /biz/.

>>21234556
*$50,000

>>21234637
You had money to play around with to begin.

If true, congrats on not selling.

>>21234565
You have to be 18+ to post on these forums buddy. Sorry but i did the thing.

>>21233580
Neither does anyone.
You buy low sell high.
Or do the opposite until you learn the ropes.

>>21234686
I'm 36 mate.

I'm still waiting for an answer.

>>21233580
https://www.youtube.com/watch?v=3x1b_S6Qp2Q
Explanation starts at around 20 mins.
>BTC - giant virtual computer that does transactions
>ETH - giant virtual computer that provides a platform for smart contracts taxing you up the ass with gas prices
>LINK - utility token that provides decentralized oracles to get outside data onto ETH (for now) blockchain like price feeds and other random shit for smart contracts to execute on
>XMR - private transactions
There are a lot of useless tokens out there that honestly are a waste of everyone's time. Decentralized finance seems pretty interesting if projects like LINK and BUIDL deliver.

>>21233580
They enable literal Nazis

>>21234055
Fuck off nerd!
Have sex you kissless wizzard

>>21233729
>invest
bro literally all of crypto is greater fool ponzi shit and nothing you say will change that. its all gambling garbage from #1 to the last

>>21233580
one day the cashier will spin their tablet around and you'll see a dollar sign with a bunch of stupid numbers in front of the period.
And then you'll see a bunch of symbols followed by a zero with a period and a bunch of stupid zeros behind it.
You can pay them in dollars but it's all going to be swaped into one of those strange ticker symbols.

>>21233632
Fractional reserve banking was always a shell game. Plebs would lend their gold to a bank for a return on interest. You could technically withdraw all of your gold. But not practically.

If enough plebs tried to withdraw in the full amount at once, you'd get a bank note for your gold that you could retrieve on the other side of the continent. You could get on your horse, travel through bandit country and maybe a warzone, maybe lose a horse or family member along the way, just to get where the reserves were held. Or you can play along and spend the IOU, like every thing's fine.

After the industrial revolution, travel became easier, but feeding the ponzi became a bit more difficult. Every nation that had a gold backed currency failed in less than a century. America even started banning the possession of gold bullion and confiscating it to keep the scam going.

Thank god the sham finally came to an end. Sure, 1 GBP is worth chicken tenders on the kids menu, not a pound of sterling silver. But now that we can admit we have a problem, we can at least hedge with precious metals. Unfortunately precious metals can't be transmitted digitally. That's the one thing banks really moved the world forward on.

Cryptocurrency can be transmitted digitally around the world without trusting a scam artist to hold it in reserve.

>>21233856
They sometimes decrease in value

>>21234728
Does the video explain what need is being fulfilled? What difference is crypto is going to make in my daily life?

They say it's a new industrial revolution, but the industrial revolution did things like make some workers thousands of times more productive, like farmers and miners. What does a crypto revolution increase or decrease in sufficient quantity to make a difference in the average person's life?

Number go up. That is all you need to know.

>>21234720
mostly black market but dont tell it to /biz/ we actually want a value stable coin

>>21233580
They.. uhh.. uhm.. not sure but it involves computers.

>>21234565
ATM fees, montly fees, near 0 interest rates while they make huge profits by loaning out your money, etc.

>>21234846
I appreciate the effort mate, but I still don't understand what issue crypto solves.

This looks like demented goldbug conspiracy shit.

>>21234930
The autistic furry (Vitalik) explains what problems things like BTC and ETH solve. Give it a watch.
>They say it's a new industrial revolution
https://www.youtube.com/watch?v=wn5f3yN3lr0
Watch that at least and tell us what you think.

>>21234168
>>21234211
>>21234287
The jew fears the autistic cyber pog trader

>>21234785
Bitcoin and Ethereum are both legitimate technologies that have real usecases. The rest of the crypto world is currently focused on making useless scamcoins to trade for other scam coins. Entire coins are invented just to make money off of people trading coins that were invented to make money from trading coins. That to me is insane, that is where the all the ponzis happen. They made crypto into a big online casino.

To me it feels like the whole plot has been lost. Crypto should be focusing on ecommerce. DeFi is a step in the right direction I guess but there's still lots of useless shit popping up there too

>>21235202
All this is why chainlink stands out, it's bridging the "real world" into crypto, hopefully that fuels better developments than useless exchange #139

>>21235141
>ATM fees, montly fees
I don't think I pay them. Or if I do, it's peanuts.

>near 0 interest rates while they make huge profits by loaning out your money, etc.

Crypto will stop banks issuing loans?

>>21234168
I mean we have (((tether))) already, so you may be right.

>>21233650
I’m not missing money, I’ve made a lot in crypto just basing my buys on posts on /biz/, trusting my life 12 years of experience on this site to tell me which posts are sarcasm, irony, trolls, FUDers, pajeet scammers, resistors, genuinely informed people or optimistic frens but I still can’t understand what the fuck any of these coins really do.

>>21235178
>The jew fears the autistic cyber pog trader
Fuckin lol

>>21235202
Decentralized peer to peer lending is very much a real use case.

>>21233580
Don't worry anon, 99% here don't either and shill things fo a quick dollar.

>>21234728
based

>>21235318
Honestly I just go with whoever has the best memes and then let God sort out the rest.

>>21233580
don't want to
don't need to
i can drive a car and know nothing about fuel air compression and gear ratios
it's not rocket science

>>21233580
You also wouldn’t know what a vagina was even if it pissed in your face

>>21235294
>Crypto will stop banks issuing loans?
No but crypto won't jew you when you deposit money.

There's also smart contracts (see Ethereum and Chainlink). Jump to 1:36 on https://youtu.be/NsyFGzhktYA for a good explanation.
Basically, usual contracts are flawed. Say you make a contract with an insurance company for example, the contract is manual, humans control it, and the company can cheat you, like by coming up with a bullshit reason to not give you your money, and their lawyers are too good and their resources too high for you to sue them and win.
Smart contracts on the other hand are automatically executed when their conditions check and are incorruptible because of the blockchain.

>>21235367
its not decentralized. all of this trash is centralized and you gillible morons eat it all up

>>21235163
It's a historic precedent. A literal re-invention of money. Much like how the combustion engine re-invented transportation.

The templar that implemented the first global fractional reserves during the crusades became the great banking families that still control the planet to this day.

You're lucky enough to be here before the financial inversion becomes obvious.

>>21235166
So it helps create financial products to sell and trade? A product that reacts to different inputs?

>>21235927
Yes. See >>21235870

>>21234543
Wait what? I don’t know how bisq works admittedly, but couldn’t you just buy btc at an atm and then send it to bisq? Or localbitcoin/localminero using PayPal and then use a dex?

Where do you live that you have the internet and a pc/mobile but bisq doesn’t have your currency

>>21235870

Why would industry adopt that when it benefits the consumer only?

>>21234728
Why about XSN... it seems pretty cool? No shill. But it’s a proper private lite wallet connected to a dex where you can exchange real BTC for any erc20... and possible monero in a year or two

>>21236098
https://cloud.google.com/blog/products/data-analytics/building-hybrid-blockchain-cloud-applications-with-ethereum-and-google-cloud

>>21235870
>Basically, usual contracts are flawed. Say you make a contract with an insurance company for example, the contract is manual, humans control it, and the company can cheat you, like by coming up with a bullshit reason to not give you your money, and their lawyers are too good and their resources too high for you to sue them and win.


Well written laws and well written contracts would be as ironclad as programming in most situations. Insurance companies can't fuck you if the contract is bulletproof and laws effective at stifling scummy behavior by insurance companies.

Human language is a code as much any computer programming language is. If you can program it, you can also write it up in a contract.

>>21235905
>It's a historic precedent. A literal re-invention of money. Much like how the combustion engine re-invented transportation.

Buzzwords and slogans.

I want specifics.

>>21236125
Never read the white paper for XSN, sorry.
>>21236203
You don't think that smart contracts could be a superior way to do things that also helps companies cut costs?

>>21236304
>You don't think that smart contracts could be a superior way to do things that also helps companies cut costs?

Maybe. The real world is hard to prgram for though. I imagine you still need human oversight and intervention.

Imagine if you programmed a contract to take into account rainfall or something, but the weather station was faulty and gave information. You need a human to understand and react to those situations.

Also, how is making contracts cheaper for companies going to help anyone but he companies writing contracts? Maybe we get cheaper goods and services, maybe they just make more money.

I heard if you buy some coins and then sell a couple of weeks later when it dumps you can get a Lamborghini.

>>21233580
so you're like 99% of biz?

>>21234846
>Every nation that had a gold backed currency failed in less than a century
Only half true. Two world wars worth of spending and the only real trading partner Europe had was the US. At the time all currencies were pegged to gold to some extent but due to the wars they started to spend more than there was gold which started the decline. The US eventually started the gain financially from the wars and eventually owned two thirds of the world's gold and started loaning out US dollars to rebuild Europe and eventually all the world's currencies were pegged to the USD which were then pegged to smaller and smaller amounts of gold.
Eventually French president De Gaulle called out the US in '65 when he realized that the US was just printing their currency and didn't have the gold to back it up despite most of the world relying on their supposedly good money. Eventually the USD was taken off of gold and that was that.
Although you're right, precious metals are one of the best hedges against the system but I really want crypto to start getting less centralized and kiked but I don't see it happening anytime soon.

>>21236444
>Imagine if you programmed a contract to take into account rainfall or something, but the weather station was faulty and gave information.
Good point. That's why decentralized oracles providing multiple data inputs on the same thing are critical for smart contracts to work. That's whole reason behind why chainlink exists and what it's trying to solve.
>Also, how is making contracts cheaper for companies going to help anyone but he companies writing contracts? Maybe we get cheaper goods and services, maybe they just make more money.
Facilitating ease of commerce is always a good thing. Look at any mildly successful developing country and look at what they all invest in, infrastructure. One of the many reasons why Turkey for example was able to develop as quickly as it did (and why Erdocunt is so popular over there) is that they invested billions into building roads and airports all over the country, facilitating commerce.
>Maybe we get cheaper goods and services, maybe they just make more money.
If companies make more money using chainlink, so do I.

>>21236098
>>21236187
This is a good read too..

https://www.capgemini.com/au-en/wp-content/uploads/sites/9/2017/08/smart_contracts_in_fs.pdf

Sergey's in it.

>>21236300
>I want specifics.
sorry, I didn't know you had a learning disability.
what specifics do you need me to spoon feed you?

>>21233679
This. Not even sure what link is. I just know I should've bought some.

>>21236673
>If companies make more money using chainlink, so do I.

So the benefits are seen by the token holders?

Seems a bit exclusionary (Jewy) to me.

Is it worth jumping on link at this point, or just accept i missed the train and move onto xrp?

>>21236987
>Seems a bit exclusionary (Jewy) to me.
And? I could say the same for stocks, bonds, and shares.

>>21236678
The industrial revolution did things like make coal workers and farmers hundreds or thousands of times more productive. Does the crypto revolution offer any opportunities for big changes like that?

>>21236676
Thanks Anon.

>>21236672
The gold standard really became a joke after the Jekyll Island agreement. Nixon finally delivered the punchline when he slammed the gold window shut.

>I really want crypto to start getting less centralized and kiked but I don't see it happening anytime soon.
why do you spell chink k-i-k-e?

Anyways crypto is definitely a work in progress.

>>21237042
>And? I could say the same for stocks, bonds, and shares.

Jew shit.

I don't want to join the jew ranks (not officially anyway), or make the jews more powerful. I want regular people to benefit from big changes.

>>21237069
>Does the crypto revolution offer any opportunities for big changes like that?
making NEETs millionaires

>>21237135
Your money, your choice.

>>21233632
Money is a pyramid scheme

>>21233912
Wow biz is full of knowledgable businessmen

>>21233580
It turns your 1k$ into 100k$

>>21237069
Don’t listen to that other anon with his pie-in-the-sky bullshit. Crypto is a money making scam that burns tens of thousands of gigawatts of electricity per year. Literally wasting tangible precious resources to solve pointless equations to generate numbers in a wallet backed by nothing that transhumanist corporate cyberchinks use to launder money.

That other anon is either naive, a victim of crypto propaganda or both.

>>21237069
the internet has already started it, crypto takes it a step further. Imagine Lyft without Lyft or Airbnb without Airbnb?

Would you share your name, home address, phone number, credit card number with the expiration date and cv code with strangers on the internet to buy something off them?
I take it your answer is HELL NO. You have to trust a central point of failure with that information.
At any point through either through incompetence or corruption all of that information can be stolen. Just look at the Equifax hack of 2017.

>>21236047
>atm
>third world country
Are you making fun of me, bro ;_; ?
>localbitcoin/localminero
These sites don't have a paypal transfer without verify.
I can't verify ID, nothing... nothing

Crptocurrencies are digital assets that are usually not issued by any central authority with a distributed ledger that has transactions verified by cryptography. The advantages are that for most coins fees are less than a dollar and they do not depend of amount you pay the same fee to send $1 and $1,000,000,chargebacks are not possible,there are a lot more ways to protect it,the network is up 24/7 so you can make a transaction any time you feel like,your account can never be frozen,you can make completely anonymous transactions and all you need to get started is an internet connection and a wallet

>>21237833
Barbados has atms and paypal is prone to chargeback fraud so that is probably why everyone wants id verification try moneygram instead

>>21237890
>The advantages are that for most coins fees are less than a dollar and they do not depend of amount you pay the same fee to send $1 and $1,000,000

Small transactions get it up the ass? Doesn't sound like it's a good thing for the non-rich.

>chargebacks are not possible

Doesn't that hurt consumers more?

>>21237814
>Imagine Lyft without Lyft or Airbnb without Airbnb?

I don't understand what you mean by this sorry.

>Would you share your name, home address, phone number, credit card number with the expiration date and cv code with strangers on the internet to buy something off them?
I take it your answer is HELL NO.

I often do. More than once a fortnight sometimes. Haven't been scammed once (touch wood).

>>21233650
Crypto Made me loose 6k

>>21238331
Someone else made 6k.

>>21238292
>>21238085
Retarded troll thread. Either way one of four channel dot organisation's finest posters.

>>21238085
Did you read what i said you can send any amount for less than 1 US dollar on average
Yeah it is a con luckily there is escrow through a trusted third party and taking security deposits and funds from both parties into a multisig wallet this will require authorization from both parties meaning that no one will get screwed over

>>21233599
This

>>21237443
Cryptography is not only used in cryptocurrency and not every coin uses proof of work

>>21238608
>Did you read what i said you can send any amount for less than 1 US dollar on average

why would I find a flat fee impressive?

If I transfer 10 dollars, I get charged a dollar. If I transfer 10 million, I get charged a dollar.

Small transactions would eaten most by the fees. And the would poor would make up the majority of small transactions.

>>21238418
That was me.
Easiest money of my life, thanks.

>>21238292
I'm saying that at some point there won't be a company that brokers cab fairs or rooms. There might be an index like yelp to curate services with user reviews and rates, but that's it.
In the near future, instead of obtaining a liquor license to open a bar, you can just buy a bunch of liquor and throw a house party.
We may have to rely more and more on the deep web in the post corona world.
>I often do. More than once a fortnight sometimes. Haven't been scammed once (touch wood).
you will be.
>>21238331
I made 16k

>>21238786
It is not a flat fee it is dependent on network congestion it just is not dependent on the size of the transaction a few cents is not expensive no one is sending a dollar to someone

>>21233580
same as any security. a pool of money with an order book and an autistic meta