/biz/ - Business & Finance

2015 still caring about shillbux

>>827740
2015 still not realising the potential of crypto

>>827017
meh.

>>827017
Im not entirely sure ethercoin isnt a cut and run scam , I believe in ethereum but not the prerelease coin

>>828223
Fuck ethercoin. I'm talking about ethereum

What incentives are there for business owners and service providers to setup DACs instead of setting up a normal business?

>>828406
DAC's let you sound edgier.

In five years Etherum will be as widely used for business as Wordpress is for creating websites today. Eventually you will use it.

>>828406
Distributed Autonomous Corporations have many advantages. DACs are...

Corporations – They are, and of a right ought to be, free and independent persons.
Autonomous – once up to speed; they no longer need (or heed) their creators.
Distributed – there are no central points of control or failure that can be attacked.
Transparent – their books and business rules are auditable by all.
Confidential – customer information is securely (and incorruptibly) protected.
Trustworthy – because no interaction with them depends on trust.
Fiduciaries – acting solely in their customers’ and shareholders’ interests.
Self-regulating – they obey their own rules like, well, robots.
Incorruptible – no one can exercise seductive or coercive influence over them.
Sovereign – over their digital resources. They don’t need governments to exist.

>>828422

So name just one potential application of a DAC then, that is superior to the traditional way of doing things.

>>828432
>Incorruptible – no one can exercise seductive or coercive influence over them.

>Sovereign – over their digital resources. They don’t need governments to exist.

>Distributed – there are no central points of control or failure that can be attacked.

I think these three advantages are the most groundbreaking. Imagine a distributed Uber that's impossible to sue or shutdown. With no company administration to support.

>>828431

I know what they are and how they work. I looked into the whole idea quite well a few months ago.

However I see a repeat of what happened with Bitcoin.

Basically all those things don't really matter if you are doing legal business and the legal system is superior to that crap because you always have some legal recourse and you're never fucked beyond help.

The only real application for that crap is black markets, just like with Bitcoin.

Also one big limitation with Ethereum is that the scope where all that trust-less technology works is very limited. Once you need to verify something in the real world you basically end up having to put trust in people once again.

It's pretty clearly another bitcoin trap.

>>828431
>>828433

Doesn't work on the basis that people tend to prefer FDIC-insured banks over magic internet money. You might get a few hipsters buying weed or bongs with it, but plumbers, carpenters, walmart, gas stations etc aren't going to take it as payment because it's not USDs. More importantly, because it's "sovereign" the IRS doesn't like it because they see it as a means to cheat taxes.

The only e-currency to manage to break into the mainstream was paypal, but only because in effect they're just a glorified credit card.

>>828448

Should also mention, even Moneypak (prepaid debit cards) is a more reliable "investment" (if that term can even apply to these things) because you can actually use it in many stores. It's similar to moneygram in a sense, which itself is similar to a money order you can get at the post office.

This is partially why e-currencies don't have any value. Because if normies need a way of using non-cash for purchases, they already have an assortment of credit cards, checks, prepaid cards and gift cards available to them. E-currencies only have value when it comes to black market and illegal sales. Which the IRS tends to frown on.

>>828448

Should also mention, even Moneypak (prepaid debit cards) is a more reliable "investment" (if that term can even apply to these things) because you can actually use it in many stores. Money orders and moneygrams exist too.

This is partially why e-currencies don't have any value. Because if normies need a way of using non-cash for purchases/transfers, they already have an assortment of credit cards, checks, prepaid cards and gift cards available to them. E-currencies only have value when it comes to black market and illegal sales. Which the IRS (and thus, taxpaying citizens and businesses) tends to frown on.

>>828448
>might get a few hipsters buying weed or bongs with it

I'm sure us two as individuals are not culturally similar. If you're willing to write off the crypto currency world as being hipsters (meaningless word these days) buying weed and bongs I'm not sure why you're even on 4chan or the Internet at all.

>>828455

>e-currencies don't have any value.

I know of at least one or 2 that are valued higher than USD. But then again you're missing the point. Ethereum is about creating programmable companies and systems. Money is just one aspect of that. You could use ethereum to program any kind of organisation you can think of.

>>828472
>I know of at least one or 2 that are valued higher than USD
What do you mean by this? Do you mean that 1 crytocoin is worth more than one dollar? That doens't mean much considering that there is only about 2 billion usd worth of bitcoin in existence. And half of that is owned by about 300 people. It's limited to a small group but it gets a lot of press.

>>828483
The market cap of crypto is about 5 billion.

Pic related is what you're invested in

>>828486
But you have to adming that of a currency is worth 5 billion and half of it is owned by 300 people is no big deal. The status quo may suck but it will take a long time before crypto can grow up and challange it.

>>828495
But this is where you step in,anon. be one of the pioneers to help advanced against the status quo. put your trust in crypto...aaaaand it's gone.

>>828498
I refer you to the many threads on /biz/ where people lost their money on stocks including one thread where they invested in paypal.

I also refer you to the many instances throughout recent history where national currencies became worthless, including the performance of the US dollar over the last half a century.

>>828472

>you're willing to write off the crypto currency world as being hipsters (meaningless word these days) buying weed and bongs I'm not sure why you're even on 4chan or the Internet at all.

ok, here's a better term instead of hipster: techie drug users

>Ethereum is about creating programmable companies and systems.

That doesn't make any sense. All companies are "programmed systems", they require a corporate charter and some sort of written policy (programming) to exist and function. If you're referencing uber or taskrabbit type apps, those are all middlemen. And they all use USD because USD is what they have to pay taxes in.

>You could use ethereum to program any kind of organisation you can think of.

https://en.wikipedia.org/wiki/Ethereum

>The stated purpose of the Ethereum project is to "decentralize the web" by introducing four components as part of its roadmap: static content publication, dynamic messages, trustless transactions and an integrated user-interface. These are each designed to replace some aspect of the Web experience we currently take for granted, but to do so in a fully decentralised and pseudonymous manner. [4][5][6]

From the wikipedia page, it sounds a lot like every other piece of propertary software out there. Specifically, software "platforms" that hospitals use to digitize and display records. Banks display account data too via the internet, and you can send and receive traditional payments (money orders, wire transfers) through their website.

Ethereum is pretty clearly just an altcoin with a fancy social media+ cover. Which is to say, it's useless as it's redundant, as banks already provide everything it offers but in a form where the IRS won't v& you.

>>828507
Last half century? Hasn't the dollar been dropping for a whole century? It's worth like 10% of what it was worth 100 years ago.

You kids still talking about your POGs, rare pepes and buttcoins?

>>828509
Yes a software platform. If you want to know more visit https://forum.ethereum.org/

>>828516
>not having 10% of your portfolio in A diversified folder of pepes

Stay frogless

>>828517

Yes, and notice how that's not special or unique. All banks use their own software platforms, all of which interface with each other.

The difference is that ether uses a useless currency. Even if it used regular USDs, it wouldn't be any different than a bank website.

>>828521
Not really mate. Does your bank website allow you to make distributed corporate structures?

>>828522

>distributed corporate structures

that doesn't make any sense, are you suggesting it's a taskrabbit clone? Nothing on their site actually explains what it is

https://dev.ethereum.org/

>The facilitation will necessitate the building of tools to aid users and developers alike to utilise the back-end systems and make them as effective as possible in their facilities. It is anticipated that these tools will include the development of consumer-grade end-user components (the so-called Ethereum Browser) together with IDE-like components and associated tools. It will also mean the provision of certain high-level (on-the-system) functions, modules, examples, templates, standards and live services without which development and interoperation would suffer.

https://github.com/ethereum/wiki/wiki

>This is the community-maintained wiki covering all sorts of information on the next-generation peer-to-peer technology platform build by ÐΞV including Ethereum, the generalised blockchain for smart contract development, and Whisper, the private low-level datagram communication platform.

It sounds like it's just a bunch of bundled software, like how HP bundles store, video editing, DVD editing and photo album software with their printers. But instead of a printer, it's a cryptocurrency. And instead of a store app/editing software, it's a crypto exchange and a contract generator (?).

Which brings me to: aside from being a thought experiment, there's not much real-world use for this. They would probably get more success if they built this stuff into a game or something (see huntercoin) which would be a sandbox where they could possibly get real demand beyond maybe booming for a year and going bust like bitcoin.

>>827017

> another pyramid

>>828594
This guy gets it