/biz/ - Business & Finance

UPVOTED FOR VISIBILITY

>>7474550
Thought I would disagree massively after reading the headline, but it's actually pretty spot on.

we already know this
the reddit fags are living in their own censored bubble
they deserve toget rekt

>>7474399
The faggot wrote all that bullshit and continues to be the problem by refering to blockchain solutions as "cryptocurrency." If the poster is too dumb to see that this label is what perpetuates the problem he is referring to then he needs to delete his account and commit suicide.

>>7474399
The real value is still getting discovered.
Normies only now start to speak about it in school corridors, pubs and cafes. No one as of yet has it. Only very few people have adopted it as of now. And, as the first commenter in plebbit said, "Early markets are prone to volatility, no shit."
What the fuck are you on about? No one from /biz/ wrote this. We are busy watching our shit tank rn.

uses ironically unironically.

>>7474625
Mr. McAfee...we know where you live now so please stop posting for your own safety

>crypto is fundamentally useless unless it loses its volatility
Why do brainlets keep saying this? Not every coin is meant to be used as currency. Also how is it ironic that scam coins are built on the ethereum network?

Jokes on him, i cant read

>>7474399
stop your pseudo-philosophical circle jerking and accept that greed is a natural part of a free market. the only way all these projects can even make a living of bc-tech is because of the greed of people.

GREED IS GOOD IN CAPITALISM. how the fuck do you not get this?

without greed, buttcorn wouldn't even have made it past... well, there would be a $-value attached to it, would there not be the greed of people basing their buying/selling decision on that market value...

it's about beating "old money" with crypto by playing on the "old money's" playing field... we still have a free market...
and just because you're crying "THAT'S UNFAIR" doesn't mean everything will turn into a communist utopia where you will be overlord just because you use buttcorn.

also: i stongly believe the volatility of crypto becomes less of an issue when the market is grown to a more stock-market size... in the several trillions at least...

this chicken shit market (on a global scale) can literally be crashed by a bunch of criminals hoarding crypto since a decade ago by selling stuff on silkroad and basement dwellers who mined on their moms thinkpad in 2010 for a fucking week...

let some real capital come in until 2020 and you'll see a more stable market... volatility is an early problem that solves itself with sufficient market capital...

until then, you'll also have plenty of real uses for bc tech in the world... normies using it like a bank card blah blah blah...
people thought e-coins would be made by the banks...
kek

if you like banks, of course, buy fucking ripple or buy high, sell low like an emotional retard
the free market needs those too... weeding out of unworthiness, personified.

>>7474625
what incentive is there to run a node if not getting paid in crypto?

>>7474399
Pretty worthless rant. Half of its bullshit and the other half isn't news. Ask yourself, why isn't Fiat so volatile? Why isn't Tether? Just some kid crying his eyes out because weak hands can't hodl a stack. He should get out of this game. Its not for him.

>>7474851
The poster never argued against greed though? His fundamental argument seems to be that they won't actually be useful unless people spend it, which they won't if they want to make money off it.

>>7474919
Fiat is not volatile because it is not an investment instrument, and is a globally established means of payment decided upon by centralized governments. If all currencies existed in an unregulated, free market, you would probably see the same thing.

>>7474851
This is one of the main reasons reddit is shit. The level of virtue signalling on there is disgusting. When VEN partnered with China Tobacco there was fags in the subreddit complaining because they don't like tobacco companies.

>>7474399
he's actually retarded .
extremely bluepilled viewpoint of currency

Am I the only one that doesnt give a fuck about crypto as a currency? Blockchain is the real gem here, which lets tokens basically act as carrying the value of the network, which doesnt have to be a currency at all. A stable token currency would work just as well for it

>>7474921
You can buy a supercar in Chayna right now for your BTC/ETH or BCH.

>>7474960
Exactly. So, the point is...its not meant to be non-volitile.

who the fuck actually believes in crypto rather than just seizing on a bonanza?

>>7474880
ask the XRB fags

tl;dr
how about go back and discuss it on plebbit

>>7474960
>Fiat is not volatile
>What is Weimar Republic
>What is 400% decrease of pound sterling value over its lifetime
>What is Soros betting on Euro against pound and making $60b overnight.
I hope you understand...

>>7474988
This. Currency is volatile anyways, this guy has no education on exchange rates or cross borders contracts. He's also never lived in a 3rd world country where holding dollars is a great investment.

>>7475101
>B. Disk Capacity
2) Current:
Due to the design of keeping accumulated
balances with blocks, nodes only need to keep the latest
or head blocks for each account in order to participate in
consensus. If a node is uninterested in keeping a full history
it can opt to keep only the head blocks

>C. CPU

2) Representative:
A representative must verify signatures
for blocks, votes, and also produce its own signatures to
participate in consensus. The amount of CPU resources for a
representative node is significantly less than transaction gener-
ating and should work with any single CPU in a contemporary
computer.

>Network

1) Representative:
A representative node requires maxi-
mum network resources as it observes vote traffic from other
representatives and publishes its own votes.


So basically to run a node, you need a $5 a month. Any business would have no problem running that, or a techie amateur.

>>7475379
ok so whats the incentive

>>7474851
>GREED IS GOOD IN CAPITALISM

Greed is okay, but being overly greedy is bad. It leads to ridiculous behaviors such as tracking how many minutes it takes an employee to shit, or that Amazon bracelet that tell when warehouse worker's hands are not moving

He is just flat out wrong. The points he make are fairly solid, but his overall vision for the value and real world use of some of these projects is severely lacking. Say it with me guys: NOT EVERYTHING NEEDS TO BE COMPLETELY DECENTRALIZED. it's a meme

>>7475444
a decentralized instant and free peer to peer currency

>>7474399
>doesn't understand how early it is

>>7474399
Did you know that there is zero monetary incentive to run a BItcoin node? No, because you are a brainlet. At the very least, there will be a cost savings incentive to run an XRB node (and more to come through further developments) - there are more incentives (exchanges, 3rd party plugin and wallet devs, etc.) if you bother to dyor.

>>7474399
>"I don't know what stablecoins are" the post

>>7474988
I don't understand what you are trying to say with this graph anon.

>>7475444
I meant to reply to you

>>7474399

most of the world's assets are in HOLDINGS - rights to natural resources/materials or LAND...this post is fucking dumb. Everything is a derivative of these few things and HOLDING is what makes it possible.

>>7475676
Huh, you're comparing natural resources to digital tokens? Holding most assets is valuable. Holding currencies doesn't make sense.

>>7475619
>>7475565
brainlet

>>7474399
ETH is fucked when regulations hit

back to 4$ shitcoin

>>7474747
nice repeating digits

>Entire thread calling OPs poster retarded.
>No one can actually counter his argument

stay classy, bizidiots

>>7474399
REAL value? Value is given by the people who believe in a currency, stock, whatever.
This dude is so stupid. He has no clue about economics.

>>7475911
You can’t read well can you? There are actually legitimate ways to fud xrb but being absolute retard that are you chose the low hanging fruit like the lowest common denominator you are. kys faggot

>>7475111
>Weimar Republic
>Soros
wtf you on about nigga
GOT season is over

>>7474960
Fiat is dying. It will start to get very volatile very soon. Faggot.

>>7476226
loving all the children in the game
makes my profits rise

>>7476143
No hes not. Hes spot on. People are buying BTC not because they want BTC, its because they want to get to lambo land.

Fucking retard.

>>7476290
Yes that's why there was a speculative bubble that popped. Just because there are idiots investing that doesnt mean the underlying idea is flawed. Extreme volatility is going to be common in an emerging asset class that can't be valued using traditional models. Not to mention it's essentially an unregulated 24/7 market. I suspect in a few years there will be more stability as shitcoin projects die

>>7474626
Also everyone who says people are only investing just for the price to go up are forgetting the basis for people believing the price will go up.

Every investment is a bet, "I believe this will be more money, because of X reason(s)"

No one in their right mind actually wpulf believe "x = because some fucker will buy it higher". To apply induction to that logic would be: I am buying z because some some fucker will buy it higher because some fucker will buy it higher because some fucker will buy it higher..."

If that reasoning had any basis BTC would've crashed to 0 already

>>7474399
the person who wrote this diatribe doesn't understand how markets function or grow.

>>7475111
This really isn't an argument.

Why are so many people still talking about all of the cryptos as if they're supposed to be currencies?

I don't hold a single currency coin, the only one I can see a potentially huge future value in is Monero because of privacy and because it has a relevant use case as currency on darkweb sites.

>>7474399
can't wait till LINK takes #1 spot and becomes a shining paragon of what crypto and blockchain should aspire to be

>>7474399
This market has always been volatile. Volatility has nothing to do with the increase in newcomers. It's caused by LOW LIQUIDITY typical of small markets (cryptos are traded in relatively small exchanges).

>>7475444
Easy. Credit card fees are around 1%-2%. This means if you made $10,000 in sales, $100 will go to Visa, minimum.

Compare that to accepting XRB, getting money with no fees whatsoever. You don't even have to run a node. But If you do run a node to strengthen the network, it'll cost you $5 a month. Much cheaper than credit cards in every single way possible. And it can process more than credit card companies can process. And it will do it faster so instead of waiting 30 seconds on the register to pay for the coffee using ur CC, u wait 2 seconds instead for tx to confirm. Again, instantaneous and free.

>ironically
>ironically
>ironically

Jesus Christ, imagine reading a book by this brainlet. Ppl tht failed hs english shouldnt be allowed to use the internet. Buy a thesaurus, retard

Welcome to Monero, anon. We've been waiting for you.

>>7476977
and a dictionary too

>>7476876
Have fun, again, spending something that you expect its value to go up by. Face it man. As long as this is a market and is unregulated, people will want to make profit, and it will simply never be stable (due to no regulation and federal backing). As such, no one will use XRB or any other crypto to pay for anything.

I have not seen a single valid argument against this basic point.

>>7476989

bah, picture didn't upload

This is the reason why i withdrawed all the money from crypto and im giing to invest it back in stocks after the crash is over. Crypto is revolutionary, but the market is massively overvalued and the “traders” are retarded also its the reason why crypto “investing” is now over in 2018.

I used to browse r/cryptocurrency to get my info and stay ahead of the curve. Recently I've realised that they actually represent the normie masses and I should be trying to stay ahead of them.

Also I got banned for calling out a pajeet.

>>7474399
>posting on reddit is brave

Reddit just just literally pajeet post after pajeet post. Every day looks the same, and everyone talks the same. I wonder how much all the shills are getting paid

>>7474747
Nice palindrome
Praise toth

>>7476876
you raiblocks fags need to be locked up in an insane asylum. never have I seen such delusion. pathetic.

>>7476451
Upvoted.

Crypto will never be used as a fucking currency. The idea is fucking retarded in the first place. The volatility doesn't matter.

The future is in distributed ledger platforms that businesses can use. Token based ecosystems are the future.

Why would I ever want to have a digital currency? I keep everything in cash and gold. One EMP and your entire life savings are gone.

>>7477648
>The future is in distributed ledger platforms that businesses can use. Token based ecosystems are the future.
This
>One EMP and your entire life savings are gone.
Oh shit. All these cryptos claiming to be quantum proof and I hadn;t even thought about EMPs. Fuck.

>>7474399
>decentralization effects

what did he mean by this,

>>7474399
Here’s your (you)

>crypto is fundamentally useless unless it loses its volatility

So use Tether. We're still in the price discovery phase.

>>7475032
not with the tiny amount I have

>>7474399
So you're telling me we're not going to see massive bull runs like before anymore??? I mean the prices are disturbingly stable at the moment.
DID I MISS THE HOLD RUSH????

>>7475974
how do you regulate a peer to peer net? it's like regulating .torrent

BIZ ANSWER ME NOW OR ILL OFF MYSELF AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

>blockchain technology is useful

KEK

>>7477648
if it's decentralized you'd need to EMP every node to destroy the blockchain

>>7479968
You haven’t missed shit.

We have exactly zero tokens with a compelling working product behind them. None. Imagine when REQ or LINK or even OMG have a stable and working main net release.

>>7480253
>when

>blockchain is useful
LOL. You do realize updates to the blockchain cost O(n) network updates instead of O(1) in traditional business? Also, the whole "muh trustless environment" thing doesn't matter if you are using (aka trusting) a centralized exchange to hold your wallet.

>>7476290
Nobody is getting lamboland with BTC ever, maybe some early fags but not anyone else.

Nobody wants BTC, period.

>>7476876
Wtf there are many fee~less credit cards (unless you don't pay your monthly balance like a tard). Credit cards also offer USEFUL PERKS to the consumer such as buying protection, extended warranty, cash back, etc. Crypto is a step backwards as a currency

>>7474399

> reposting reddit posts in full

kill yourself immediately

>>7477054
> Design laid out by satan, or a pajeet.

Might be the only nice thing the monero honeypot had, the community, until it got pajeet'd.

>>7477648
>>7477796
> EMP

Thats why it is descentralized silly anons. You know what that means right?

If theres an EMP large enough to wipe the whole world, then, you will have more pressing issues by then than whatever happened to your shitcoins, believe me.

>>7474625
Everyone but me gotta learn you are stupid

>>7477648
>Why would I ever want to have a digital currency? I keep everything in cash and gold. One EMP and your entire life savings are gone.

>>7474625

This

>>7476451
Just because you don't believe in it doesn't mean that's not how it works. The only reason the price goes up is because more people are willing to buy at a higher price.

+1 Karma for OP

>>7474399
It's at the same right and shortsighted. ICOs are disrupting the stock market itself. It's so weird that almost nobody sees this. IPOs got regulated to death.
I give it 3 years before there's more money invested in ICOs on ethereum than in IPOs on the American stock market.

This + smart contracts hype are going to create what's going to be called _the_ cryptocurrency bubble. Imagine ether at $50k in 2020.

>>7474988
I think this is a pretty bad example of volatility. Sure, the dollar lost 95% of its value in 100 years, but Bitcoin lost 66% of its value in 2 months.

>>7474747
>747
I-is McAfee gonna die in a mysterious plane crash?

>>7475330
The first world currencies don't usually move over 1% a day, certainly not over 10% unless there is a very rare event. Crypto is far more volatile than most currencies, there are probably African tin pot dictatorships with more stable currency than most crypto.

>>7474611
>implying biz isn't worse

>>7475498
>Amazon bracelet that tell when warehouse worker's hands are not moving
lmao is this real?? Absolute state of wagies...

>guy writes a 100% true post
>deluded cryptocucks first response is to call him retarded

>>7474747
>>7474747
>>7474747

brave as in the browser?

>>7483722
are you retarded

>>7482712
difference being that third world currencies trend downards, and BTC trends upwards

>>7483782
hey hey heyyyy

>>7483238

>>7474399
very stupid, written by a nigger who did not read or understand Satoshi's whitepaper

>>7474399
lol look at the weak hands on that fag

>>7474626
Are you retarded, there is nothing that mooned as hard as BTC, it was already to Alpha Centauri and back.
What. are. you. still. waiting. for?
There was a dip these day, it just wasn't bitcoin's one.

>>7477005
>>>7476876
>Have fun, again, spending something that you expect its value to go up by.
This is a surprisingly common argument for being so retarded. I can just buy more XRB with fiat if I believe it will go up after I've spent it.

>>7483782
> BTC trends upwards
Are we looking at the same charts?