/biz/ - Business & Finance

oh look, its another "crypto is a scam" thread. yawn.

>>8034928
Perhaps the original idea of crypto had good intentions. But when you seen banks like Goldman Sachs now buying up Poloniex, I think this shit was already being controlled years ago.

>>8034881
peddled by who? Literally everyone who isn't a millennial thinks this is a scam

>>8034881
Do you think this is the only place people come for info?

The internet is available to check things you posted and you’ve been found retarded.

>>8035056
anyone that is using an exchange that requires verification is trampling over the original intention to begin with.

this will all just lead to decentralised exchanges getting A LOT more support so
its
all
good

>>8035056
>If banks are interested, it's a conspiracy.
>If banks aren't interested, it'll never take off.

Anyone who calls crypto a "scam" is so ignorant of the economic climate that he reveals himself a dullard

>>8035456
>decentralized exchanges
>kyc laws
pick one

>>8035513
I mean the SEC is so fucking cucked their willing to go on national TV and say they don't want to ">muh stifle innovation" by shutting down all these ponzi schemes, so desu I wouldn't be surprsied if they repealed KYC just to support BTC

I mean ffs, is the Fed just gonna roll over and let the money supply be controlled by a bunch of chink miners?

Unreal autism from SEC / CFTC

>>8035503
This guy knows.

>>8035548
>I mean ffs, is the Fed just gonna roll over and let the money supply be controlled by a bunch of chink miners?
also they're*

>>8034881
you're about as delusional as the people on the other side of the spectrum saying bitcoin will reach unimaginable heights in future.

try to understand something before you discuss it. I know that can be difficult

>>8035513
You may need to go back and read what I wrote because I said that exchanges that have verification ie KYC are going to get BTFO by decentralised exchanges

>>8035056
it was circle, not goldman

>>8035575
You're probably right, but here's my perspective: I'm a nocoiner who loves the idea of a decentralized currency but have yet to see one that satisfies my vision of how a decentralized currency should operate. What do?

>>8035655
write a whitepaper
pay somebody to write a whitepaper

>>8035688
I don't want an ico, I just want to starve the banks to death.

>>8034881
its probable most coins are scams or will at least have the same fate, due to over competition. however that doesn't mean there can't be one or more Wall St. led pumps before it all crashes down. I'd assume Wall St bankers are frothing at the mouth to get a chance at 10x or 20x investment returns. Pump that bubble high as fuck and then the bankers get out before it pops. I think the bubble will re-appear one day, maybe after they have dropped prices so low that it shakes out some of the whales.

>>8035716
You need to wait until bitcoin actually becomes stable in price so that vendors aren't scared to death over accepting it.

When will that happen? Your guess is as good as mine.

>>8034881
>Op says it a scam because he says so.
>doesn't back it up and doesn't understand what decentralization means.

> being peddled to millennials

You had at at millienials. This is where i know you are spewing propaganda and bullshit because you're too old to comprehend the idea. You're just a , how should I say, a "salt no coiner."

Get bent, dumbfuck!

>>8035655
Wait 6-9months trust me.

>>8034881

The tech is still very young and there are (in my estimation) two main technological issues that need to be solved before the next big crypto bull-run/adoption phase:

>decentralized oracles

This is crucial since crypto is suppose to be a direct disruptive for the fin tech sector.

We have smart contract platforms already (which will become more efficient in the future still) but we don't have a way of feeding these smart contracts any sort of real world data in a reliable secure way.

If investors and entrepreneurs wanted to create trustless blockchain based future contracts (for example) that paid out based on real world data (time of contract expiring and price at the time of expiration) contracts would need a better oracle that Oraclize since its faulty and prone to failure or compromise.

This is trillions of dollars that can even begin to transition into the blockchain due to no working decentralized oracle.

>Decentralized hosting/computation

Being able to have an application perform computational tasks (querying databases, math, hosting, etc) in a decentralized fashion and serve any user the result is another hurdle that has to be solved.

Once this become a reality, extremely efficient decentralized exchanges for crypto, futures, stocks, and gambling will become a reality overnight.

I think this year we might get both of these tech advances in a similar way that we got Ether and smart contracts in 2015.

>>8034928
>>8035427
>>8035503
>>8035575
>>8035796
im dissapointed in this board. maybe this really is reddit crypto afterall

give me one good reason why crypto scam threads are not healthy to this board and crypto. the more normies who come to this board and get fudded out of buying, the more coins for us

>>8034881
good job now shh, we need to unload on normies

>>8035562
He knows how to be a pretentious twat

>>8035990
This sounds like LINK and RLC.

>>8034881
>muh x
not an argument >>>/r/buttcoin

>>8034881
You know if you trade forex, futures, options, or stocks you would also be "literally do nothing but sit down at a screen and look at charts all day." Welcome to the trading world.

>>8036644
They dont care, they just hate crypto.

>>8035640
You think Circle just pulled 400 million out of their ass? It was all done by Goldman, its too fucking obvious.

It should be clear to anyone since day one.

>>8036412
Exactly this