/biz/ - Business & Finance

Literally none of those "projects" will ever be used in the real world. These are all shitcoins that nobody asked for. The only crypto coin that is needed in any capacity is Monero and that's it.

in other words.... btc, eth, link, xmr maxi

>>29280092
You're not really following along well, anon.

>>29280582
the problem with all of these tokens is that businesses will find ways to achieve the same outcome without buying a token, etc.

Why would I pay for $30 for a chainlink token when I can use another smart contract/oracle service that costs less/or is free.

It's a race to the bottom.

>>29280092
>but at the moment nothing thats built on top of them really makes sense.
are you an idiot? Aave, Bancor, Synthetix, Mirror Protocol, all make sense. Literally decentralized networks are better for every single fucking thing. Better as in better for humanity, not necessarily more efficient.
Blockchain bridges the gap between tech and morality.

>>29280727
Exactly the tokens themselves are completely pointless

>>29280092
>>29280092

>>29280092
>virtual reality and ai and shit

Youre saying its gonna be a 20 year wait for this stuff to be applicable? Thats fine, thats how long I was planning on hodling anyways

Lto is pretty legit too I's say,
Partnering up with chainlink for verifiable credentials, so you know the oracle data published is from a legit source

>>29281006
no he is basically saying these shitcoins are like what virtual boy was to VR

>>29280869
>>29280727

It's not a race to the bottom. Think of these tokens as incentives. Too low and there is no incentive to use the protocols ecosystem so therefore the protocol doesn't succeed. Too valuable and the ecosystem is too hard to get into and doesn't have enough users thereby failing. Why do you think there is such an effort by some large protocols to keep the price low.

Tokens are very important for the ecosystem as an incentive. The tricky part is balancing the tokens value with its utility.

>>29280092
THE ONLY ONE

>>29280092
>try to transfer fiat between two personal bank accounts
>takes 2-3 weekdays, meaning that if a weekend is in the middle it could take as long as 5 days to transfer

>try to transfer tokens between two crypto accounts
>takes <5 minutes

This is all I need to know that DeFi is the future.

What is uniswap, what is oneinch what is pancakeswap, what is rubic?

>>29280092
Kek. Bruh, UNION. If you read about UNN and don't immediately put 10% of your port there, I feel bad for you.

>>29280092
Meanwhile LTO is generating over 100k TXs a day from the likes of The United Nations IBM Airbus etc. 7% staking paid for from company revenue. biz is sleeping on it big time.

>>29280727
Have you ever been paid to pay a bill?

>>29280092
You're so stupid there's no point talking to you
>1 post by this ID
Yeah just go away

Well there is a legitimate, own your keys, no wrapped token, no sidechain, low fee, private and secure deX coming very SooN.
I won't say what its named because the schizo fudders will find my post, they have a bot that scans for keywords so they can immediately fud.
Let's just say it is going to blow the rest out of the water.

>>29280092
U are totally right. Nobody needs all these shitcoins and this mania is pretty similar to the dotcom bubble. No real value has ever been created in the crypto space.

>>29281569
This isn't true. I send money to my friend in work all the time. My Bank account to his bank account. Its instant and free. The only time it takes longer is when I send money abroad. That's where crypto has an advantage.

>>29280092
Once you see through all the fluff you realize that BTC DCR XMR ETH are the only coins that have a dedicated community building real shit without a marketing team. Every other coin has a team that is trying to heavily market it and scam people into their ponzi.
POW is unironically the only sensible way to value crypto. Everything else built on it so far is either USURY or Ponzi

>>29280092
If you think about "real world adoption" projects, yeah most are delusional, noone will use that shit. Golden rule don't invest in anything that aims for adoption by normies or real companies.

However it is evident now what works is stuff with digital money/coins. Bitcoin = digital gold.

The Defi scene is copying bank concepts like lending/margins, more and more tokens get attributes as know from stock market (vote + dividends). You could say Defi is glorified shitcoin gambling, but the same can be said for all the financial markets. So ETH = digital oil

The NFT scene is also very interesting, lots of monies to be made in the future with neckbeards collecting digital baseball cards and richfags buying overpriced digital art. Ofc 99% of NFT are shit that will crash and burn. But still the shovel sellers will make bank and the few early/famous NFT series (Punks/Masks) will melt faces. The only "bluechip" I see in NFTs currently is NFTX, until a dominant NFT market platform emerges (like opensea but decentralized)

>>29280092
There might not be legitimate projects but my boner sure is legitimate, wtf

Parsiq is a legitimate project anon.

>>29281569
Where do you live? Lol

>>29282801
>real value
What real value do banks create?

>>29280092
I just fapped because of this post. This coom is on you, OP.

>>29280916
How do you make the eyes go outside the image border like that?

>>29280092
OP is somewhat correct. Nothing matters besides Bitcoin and projects built on Bitcoin (lightning and liquid or similar sidechains). We've hardly begun development in this space and we'll learn soon, my guess is around April/May, how useless these shitcoins really are. There's nothing "decentralized" about any of them but humans must learn the hard way time and time again. I'm not opposed to dumping my bags on idiots to make more capitol to put into Bitcoin though so buy it all up anons, buy it up.

>>29281014
interesting honestly.

>>29283195
This is antisemitic

>>29284026
transparent section, it's all inside the image
you can see it in the thumbnail version if you change the site style settings in the bottom right of the page

Fuck yes ai fei er and Li fei er r absolute fapable babes. Have unloaded many loads on these sexy big Booba bitches

iota has been used in the real world. recent example is how they use it in germany to track covid at airports.

>>29280092
I think tokens could replace stocks, at least for tech startups, even outside of blockchain devs

>>29283195
None, thats why they inevitably need bailing out when they blow their own systems up with bullshit derivatives

>>29280092
I’ve been here a lot longer than you, and let me be the one to tell you that BTC, ETH and LINK (I’ve never even heard of RSR) are also scams

Bitcoin is technologically insecure. Just because we chose security over scaling in 2017 doesn’t mean the security is actually good. It’s not. Government could easy kill it.

It’s not profitable to tell the truth

>>29284026
The top is in

>>29285644
Why do you need a blockchain?
Why doesn’t the NYSE just become digital and use a centralised database for efficiency and cost?

You can’t just tokenise a stock, because the token is still routed through banks to be linked to the physical stock in the stock exchange it’s listed on.

>>29286018
I don't mean a wrapper for existing stocks, pretty much just a way for small companies to raise capital through ICOs akin to Kickstarter.

The NYSE might explore use of the tech themselves when it's ready if it helps them to operate cheaper and more reliably, but they'd keep it centralized.

>>29282934
Behind your instant transaction is a drawn out settlement system. The crypto reaches full settlement faster

there is one with still much upside. unironically its iota

>>29280092
JANNNNIES I CAN SEE HER NIPPLE PLEASR DO SOMETHING

>>29280092
ssshhhh we know were gonna cash out after we make it and let normies be bagholders

>>29280667
lol, this. Illiterate boomer take.

>>29280727
Businesses won't be paying $30 dollar for an entire chainlink token. They'll pay the equivalent of a cup of coffee for a small fraction of one which will do the job they need. 81k is not a meme...

Compendia wBIND $BIND

>>29280092
Whaaah Whaaah Whaaah, do your crying plausible deniability chilling on plebbit s.o.yboy and let me lick his s.o.ymilkers.

>>29282934
your situation is not quite the same, anon. most banks will do intrabank transfers instantly, and some have interbank arrangements - if below certain amounts.
have you ever tried to move millions on a weekend? or had the inconvenience of a bank holiday suddenly step in your path? i had to wait 4 days to receive a substantial wire transfer recently because of that shit. it was rather eye-opening. but of course, for small transfers, my example is not applicable. and wires and ACH are different beasts. but still.
the new generations want everything instantly. think on-demand... streaming services have completely put the power in the hands of the user when it comes to consumption. this same expectation has begun to apply to all things - partly for convenience and instant gratification, but also because of a crisis of trust in our institutions.
you may change your mind if you ever experience a bail-in, negative interest rates or a bank run.

OriginTrail is the new bardcode standard and many more things anon. Maybe you should do more research before posting.

crypto bad. vote for biden

>>29280092
So let me get this straight, to get to the crux of your point...my BURGER, CAKE and EGG have no real utility and are shitcoins with no intrinsic value other than what the next idiot will pay for it?

FUCKKKKK SELL SELL SELL SELL!!!!

>>29287217
Stonks, jewlery, art, luxury cars and many other things have the same intristic value compared to crypto. Just thing about it, large parts of our economy are just a game to find bigger suckers.

>>29280727
>Why would I pay for $30 for a chainlink token when I can use another smart contract/oracle service that costs less/or is free.
oh wow, where do you newfags come from?

food coins, pokemon coins, meme coins, uniswap, sushiswap, pancakeswap, burgerswap, XRP clone #1, XRP clone #2, XRP clone #3, smart contract, dumb contract, gas fees, exchange fees, liquidity fees, maker fees, 10x, 100x, 1000x, centralized decentralized finance coin, chink exchange. It's all so tiresome. What sentient person can look at this complete clown show and not see it for what it is?

>>29280582
Scrt is literally just swiss banking 2.0
You can send and trade dollar stable coins anonymously
But yeah most don't have any real use outside speculating on the price of ethereum/bitcoin (compound/save/etc.)

>>29280727
That doesn't mean that they go away it means they can't have excess profits forever

>>29280809
You realize that over collateralized lending has a single use and that is speculating on exchange rates?
The defi lending platforms aren't replacing banks/money markets lol

>>29284035
yes

>I'm not opposed to dumping my bags on idiots to make more capitol to put into Bitcoin though so buy it all up anons, buy it up
this

>>29282783
Name now

>>29284026
png

>>29282783
...XSN??

>>29280092
>vaporware (web 3.0)
how is web 3.0 vaporware?

>>29280092
Been doing some thinking and it just doesn't seem like blockchain technology will ever have any lasting purpose.

Bitcoin for example is not stable, it never will be because its security and usability relies on constant work input in the form of electricity and hashing power which needs to be financed somehow. Currently it is financed with 900BTC per day in inflation and 100BTC per day in tx fees, that's 90% inflation and 10% tx fees.
As time goes on the cost burden will shift entirely to transactions and then no one will transact because the cost will be too high and so the network will be underfunded and become susceptible to attacks. The reason each individual transaction cost will be too high is that Bitcoin only can handle 7 transactions per second, compared to, say, golds infinite number of transactions.
And no, layer 2 'solutions' like Lightning do not work because any transaction that is below the dust threshold (layer 1 tx fee) is easily destroyed by dumping the value-in-flight in the fee bucket instead of pushing it along the channel, thus payments on Layer 2 for amounts below what is economically feasible to carry-out on Layer 1 cannot be made “trustless".

Keep in mind that in 2017-2018 many Bitcoin users had to wait weeks for transactions to be confirmed despite paying ample $60 dollar transaction fees. This was back when BTC was dipping from $18k to around $14k and there was a lot of tx during the panic.
As Bitcoin becomes more expensive the cost needed to secure the network increases as the incentive for attacking the network grows as well.
Can you imagine the tx cost if Bitcoin goes to $500,000 and the coin limit is hit which pushes 100% of the network funding costs over on the transactions?

Also keep in mind that if everyone on the planet was to make just one transaction it would take the network over 34 years to confirm making it impossible to use Bitcoin in a shtf scenario, meaning it is worthless as a reserve currency.

>>29287750
>>29287750

>>29283071
>what works is stuff with digital money/coins. Bitcoin = digital gold.
no, read my comment here >>29288928

>>29284026
you're legit a <80 IQ

>>29288928
Then what do you think is the future of this, and where can money be made outside of day trading and quick pnds? Wheres the value/future.

that's a very good looking asian man

>>29280092
P2P finance without brokers and middlemen... that alone is revolutionary, let alone NFTs.

Imagine NFT real estate, on chain mortgage, rents automatically coded in.


Insurance, derivatives, lending, bonds, EFTs... The list grows by the day. As someone who works in corporate finance, this shit is 100% the future of finance once scalability is solved

>>29280727
peak brainlet

>>29280092 me want lick Booba

>>29284026
Hint: change the style

>>29288669
>>29288867
Shhh

>>29288928
Same reasoning from every other year of Bitcoin. But the solution is always the same - Bitcoin becomes the preier transaction service for the movement of funds of a value to jsutify the fees.
The days of buying a pizza with it are gone, but no one moving 30k of their savings out of banks and fiat have noticed. And Bitcoin only gets more expensive with the exposure and trust that brings with it higher transactional use.

>>29280092
>If you have any real faith in anything "defi" related theres no hope for you
I cannot NOT believe in it. It's the ultimate fuck you to central banking, the idea alone gets me hard.

Booba big

>>29288928
>Been doing some thinking and it just doesn't seem like blockchain technology will ever have any lasting purpose.
that's what people have been saying since its inception and you're clearly wrong. the market is telling you it wants this digital gold.

>>29289352
>once scalability is solved
it's more or less already solved. it will happen on other layer 1s than ethereum

>>29289271
>what do you think is the future of this
I mostly look at crypto as an online casino with FOMO/FUD/TA as the primary drivers.
>where can money be made outside of day trading and quick pnds
Definitely in crypto and stocks, that is as long as faith remains in the dollar and liquidity is plentiful.
If the dollar really gets into trouble the Federal Reserve System will fail and all physical cash will be backed by gold again (as is stated in the Federal Reserve Act).
The digital dollars you are using to trade in and out of BTC however are not collateralized by anything and will become worthless.
Bitcoin will also become worthless as its liquidity will become zero once large numbers of people try to make transactions with Bitcoin to acquire the liquidity they need to survive (food) and make investments (cheap real-estate, certain stocks, etc) during the chaos.
If you are stuck on exchanges like Binance you will be trading one worthless asset (BTC) for another worthless asset (USD).
>Wheres the value/future.
Most likely gold.
>>29289537
No transaction service justifies thousand or even hundred dollar fees. Especially in something as inconvenient, sluggish and unreliable as Bitcoin.
FedWire costs $25 per transaction and that includes plenty of support.
In Europe we have EMPSA that allow private citizens to make an infinite amount of instant and fully insured transactions for free. I bought my house in Germany for €325,000 using a Swedish payment app called Swish, it cost me nothing and the funds cleared instantly. I could literally see the money on the realtor account less than 1 second after making the payment and she had a German bank, I had a Swedish bank.
>>29289660
The market also told us that Gamestop was worth $24b, that DogeCoin is worth $7b and that subprime mortgages were worth trillions of dollars.

>>29288928
im too tired to pick this apart rn but just some general things:

>As time goes on the cost burden will shift entirely to transactions and then no one will transact because the cost will be too high
>...thus payments on Layer 2 for amounts below what is economically feasible to carry-out on Layer 1 cannot be made “trustless"
from what I understand most transactions in the future will be done on higher layers and the base layer transactions will be sufficiently high (pooled) such that fees per transaction are negligible for everyday users. At that point the velocity on the base layer will be high enough that mining will be profitable.

>incentive for attacking the network grows as well
Besides the fact that the only "people" thatd feasibly be able to attack the network are governments, why would the incentive for attacking the network grow? Theres no point, and governments which have strong currencies (namely the US) will be disincentivised to attack the network bc BTC actually *strengthens* the dollar bc its used as a bridge currency for dollarisation events (although this may become less common with projects like Reserve). Also were just seeing mass institutional adoption, at that point BTC will be as institutionally entrenched as gold, govts would only be hurting their own economies. Seizure of mining ops probably will be an issue in countries with weak sovereign currencies tho. But still, this would constitute a very small fraction of the network.

>Also keep in mind that if everyone on the planet was to make just one transaction
never gonna happen, but again, layer 2 and pooling

>>29289735
Scalability has not been solved.
Blockchains that are decentralized are sluggish monstrosities, the once that are not decentralized are quick but get hacked constantly, much more frequently than completely private exchanges since blockchains are public with many access points.

Creating additional layers on top of the base layer only creates more problems and often, as in the case with Lightning it creates massive amounts of unacceptable risk.

As I said here >>29288928
>"layer 2 'solutions' like Lightning do not work because any transaction that is below the dust threshold (layer 1 tx fee) is easily destroyed by dumping the value-in-flight in the fee bucket instead of pushing it along the channel, thus payments on Layer 2 for amounts below what is economically feasible to carry-out on Layer 1 cannot be made “trustless"."

>>29289829
> No transaction service justifies thousand or even hundred dollar fees.
A lot of people disagree. Every day lots of people continue to disagree. Not everyone is poor, sorry. But don't worry, a scalable smart contract coin that's technically decentralized but being gobbled up by the powers that be is just around the corner for you. Bitcoin will never have a 'do not transact' list for proof of stakers to conform with or risk the FBI breaking down their door, but some of those others will. Enjoy.

>>29289988
AVAX solved scalability

>>29289829
>No transaction service justifies thousand or even hundred dollar fees
like I said here >>29289987
when its thousands per transaction but each pooled transaction is hundreds of thousands or millions, its not a big deal

>>29290046
and it comes with free blocks along

gtfo with that shit

>>29280092
Elastos, you're welcome!

>>29289987
>>29290116
>from what I understand most transactions in the future will be done on higher layers
Clearly you don't understand Lightning. Its so tiresome when you tech illiterates start bullshitting about stuff you don't understand.
If you wanna understand why it doesn't work just read here
>https://medium.com/@jonaldfyookball/mathematical-proof-that-the-lightning-network-cannot-be-a-decentralized-bitcoin-scaling-solution-1b8147650800
>https://medium.com/@peter_r/visualizing-htlcs-and-the-lightning-networks-dirty-little-secret-cb9b5773a0
I could type it out for you but 4chan only allows 2000 letters in one post.
It also doesn't scale.
>https://www.youtube.com/watch?v=yGrUOLsC9cw
>>29290006
>A lot of people disagree. Every day lots of people continue to disagree
Yes, a lot of idiots who only see green numbers and want to get rich.

No real adoption lmao. OriginTrail is already being adopted by companies and had 4000 jobs from company data last year. Right now the jobs are low because of high gas fees but will soon change when they integrate on xDAI, DOT and their StarFleet chain.
The team expect 450k jobs this year and has partnerships with GS1 and BSi to implement their protocol. You won't here much about TRAC now but you will when the jobs start coming.

>>29290679
>On Dec 17, 2020 Dominik Halbeisen, SBB (Swiss Federal Railways) Senior Project Manager for Supply Chain & Infrastructure delivered a web presentation on the strategy SBB has adopted to meet the challenge of unifying the European rail system into a comprehensive network of shared data and resources

No legitimate projects by the way
https://ifothebehodler.medium.com/swiss-federal-railways-adopts-gs1-epcis-origintrail-parts-tracking-solution-20c2058727ca

>>29289829
gj outing yourself as not understanding the value in a decentralised and permissionless protocol.

>>29290982
Thank you for your arguments and excellent insight.

>>29290046
The moment AVAX needed to use concurrency it started signing the same txs seven times and proceeded to joyfully join them all into to the chain like it was nothing.

Can't shake the feeling this entire pump is just tether scam. I'm making/made lots of money so far, but this could do -80% in a single day. It doesn't seem like there's this huge interest from the public, especially taking into account what is happening in the market. This seems nothing in comparison 2018, but price action says otherwise. It just doesn't make sense.

>>29289317
>that's a man
I am so disappointed in /biz/ that it took this long for someone to complete the 'that's a man' meme
If things keep going like this I am going to KMS
I see it in a lot of threads recently and it is NOT OK

>>29291421
more and more in biz are learning what is and isn't a man, in preparation for finding a biological female mate when they make it, and there is less and less of a need to point it out
they're all men

>>29280092

Buy monero, retard.

>>29291421
all values have been lost, this is now redditbiz
>>29292327
it's always been about derailing coomposter threads, which is no longer happening

>>29289094
hes gonna make it

>>29282550

This

>>29281569
just use venmo lol

>>29292978
>redditbiz
That is a terrifying thought
I JUST WANT MY /BIZ/ BACK

>>29280092
Didn't read bought more

>>29283176
In the us retard. Ever used an ach transfer? Or deposited a check?

Wires are slightly less retarded

>>29281124
NSMDO!

>>29280092
how come im paying for electricity with SNC using the platform to get cheaper deals directly from suppliers

and how come its getting more and more contracts and real life users and is booming in the EU

i think you're looking at the wrong coins bruh

>>29284026
I laughed at some of the responses you got but I hope this helps you

>>29288669
Ai fei er
Looks like no nudes

>>29284026

>>29293356
>BtmupRvE

>>29280092
ETH is utter garbage

>>29285842

yea ok lol

>>29280092
btw op i 100% agree. you ever notice how these shitcoins use the most obscurantist language? none of them can explain in simple terms why the fuck they are even necessary. there has to be 10 layers of abstraction to hide the fact that they're shitcoins.