/biz/ - Business & Finance

Just one word: internal blockchains. Sorry, mr. bagholder.

>>8625229
Noe this was indeed a short thread

>>8625229
The point is to replace the banks, not have them develop blockchain.
Good point, it's just a little off what we're talking about here.

>>8625194
>The only thing we can't do for free is send money.

I can do it for free in Europe, it just takes 1-2 days.
BTC can do it faster, but it is not free. Median transaction time equals about $0.50. Which makes it unusable for being a "Peer-to-Peer Electronic Cash System".

>>8625194
nice id op. icon 100$ eoy

>>8625256
>replace the banks

this will literally, unironically never fucking happen

>>8625256
>The point is to replace the banks, not have them develop blockchain.

When will people start to understand, that we have these institutions for a fecking reason?

>>8625256
No we're just going to have crypto banks. There's nothing wrong with that either, banks exist because they provide a valuable service to society. Good luck making the money they do on something that is truly worthless.

>>8625194
Your whole dream burst at that point when in future banks and govs will create their own blockchains as they get the top engineers and professionals into their team, therefore it will kill all these fucking shit coins, literally everyone, expect BTC and XMR maybe.

>>8625229
>internal blockchains
how about incentives for decentralization?

>>8625327
>>8625296
>summarizes what first anon responded:
"The point is to replace the banks, not have them develop blockchain."

interesting, just not what THIS THREAD should be about.

>>8625229
public blockchains are needed, otherwise trust issues are still a thing

>>8625285
>we are the early adopters
>Literally 11 year old starting there own coin
https://www.youtube.com/watch?v=Fq62UHJpGO0

This is the absolute state of /biz/ literally kids are starting coins and the garbage cleaner has crypto.

The early adopters are the 2007 guys and 2018 are only the biggest bag holders in crypto history.

>>8625332

Yes large companies and governments are always at the forefront of emerging tech. Innovators love working in hierarchies and attending 8 hour meetings where some middle manager struggles to understand basic concepts.

Must be nice to be this complacent.

>>8625332
Blockchain can be used for way more than just a store of value. If you truly think government & banks implementing their own chains will kill 'all altcoins' you're technologically and economically illiterate.

>>8625194
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

>>8625194

The crypto bubble is just like the dot com bubble. All shitcoins/scamcoins/pipe dreams will burn into oblivion.

https://m.youtube.com/watch?v=EsVpNB2Lv3U

https://m.youtube.com/watch?v=FTvfshr4tMw
>>8625194

>>8625296
>using the word 'fecking'

KYS

>>8625471
>Blockchain can be used for way more than just a store of value

Blockchains cannot store value, just look at the volatility of the shitcoins on it, ffs.
STOP TALKING AS IF YOU WOULD UNDERSTAND ECONOMICS OR FINANCE!
REEEEEEEEEEEEEEE

>>8625194
I’ve posted this exact post like 5 times and got nothing but bm’ed. Kudos to you anon

" " " "really makes me " " "really makes me " "really makes me "really makes me think " think " " think " " " think " " " "

>>8625508
I used Tether to move 100Milly USD before.

>>8625194
Syscoin decentralized marketplace is also something unique made possible by blockchain. Fact is that privacy money is not necesarry at all, nobody needs that. Theres plenty of groundbreaking usecases for blockchain. Private money isnt one of them.

>>8625414
>>8625353
What you fail to understand, this is not the same anarchic environment that crypto is geared towards by its nature. When running a node in crypto, you have nothing to do with random drug dealers and pedophiles that might be using it, so you need a strong incentive. The system also needs extreme decentralization because every node is essentially anonymous and unknown. In an institutional setting, everyone knows who they interact with, everyone can see who is who, and the possibility of hijacking the whole network is simply unrealistic. As long as there is no centralized point of failure, interbank and cross-institution distributed ledgers are going to work just fine without the need for publicity.

>>8625480
I am familiar with the first documentary. There is an important point raised, which is that the speed of acceleration in the DotCom bubble, including the reason it was able to reach up to a 10 Trillion mcap, was due to the new technologies that allowed money to move faster and cheaper than before.

>>8625540
Who did you transport money for?

>>8625274
Not if you live in uk, work in Eurostan, and get paid in euros. You have to accept (((their))) shitty exchange rate, and then pay a transaction fee. This is the exact reason why crypto will solve traditional financial problems.

>>8625591
???

>>8625613
>This is the exact reason why crypto will solve traditional financial problems.

So you have problems with friction loss, because you need to move in between two currencies.

You want too solve this problem by adding another currency?

>>8625613
Anon, i'm very glad that you called them 'problems', because very few people that I know call fees, wait times, and exchange rates "problems".

It would not be a mistake to bank on a future that did away with all that. Just don't count on Bay Street/Wall Street/The City's support.

I just soiled myself lads
oh man
it smells real bad too

>>8625613
That problem will be solved by interbank distributed ledgers in the upcoming years. So yeah, the underlying engine of crypto will solve these problems, but not crypto per se.

>>8625424
>>8625424
early adopters, in there before it was invented

>>8625229
Honest question, what would be the point of an internal blockchain that can't already be done with existing technology?

>>8625778
>Honest question, what would be the point of an internal blockchain that can't already be done with existing technology?

Nothing. All of this was about monopoly money.

>>8625754
by percentile, early adopter phase is over, although not until 2016/2017.

When the dust has settled on this, Bitcoin will still have been profitable, and that's all that's going to matter. Anyone who bought in prior to the floor of this (honestly very modest shedding) will have purchased at profit max of many early adopters. The cycle repeats gentlemen.

What about a decentralized oracle?

>>8625778
Public blockchains are controlled by unknown entities from countries like China, you typically have to pay node operators for processing transactions and smart contracts, and public networks are almost certainly used by money launders (as well as the fact that any of the coins and utility tokens can be converted anonymously). In other words, an internal ledger suits their need more than enough.

>>8625194
The graph seems a bit off if you take inflation into account.

>>8625778

Absolutely nothing. An "internal blockchain" is just called a ACID-compliant database, and we've had those for decades.

The whole point of a distributed blockchain is that people can essentially write to a global database in a way that doesn't require trust. If the system is internal to a company or agency, trust is implied.

>>8625194
What kind of retarded image is that?
>DotCom bubble popped at 10 trillion therefore Crypto is going to 10 trillion

>>8625966
That was not the point at all.
You are a moron.

>>8625936
I didn't say "internal to a company". I said internal to an industry or a group of organizations. It makes sense simply because you won't have to pay to shady node operators from China (but not only because of that)

>>8625966

thats hyperbole lol. are you really taking things that literally?

>>8625586
There is an important point raised, which is that the speed of acceleration in the crypto bubble, including the reason it was able to reach up to a 20 Trillion mcap, was due to the REQ technologies that allowed money to move faster and cheaper than before.

>>8625424

tfw i bought in 2013-2015 and dumped hard on those faggots in 2017

>>8625229
>internal blockchains
They cost money to maintain. It's cheaper to use general purpose blockchains, even for private companies.

>>8626047
I still own loads of REQ.

The fact /biz/ likes it worries me a bit though.

>>8625229
an internal blockchain is just a fucking database nigger

>>8625194
>implying bubble only pops when the asset class hits $10 trillion.
Where were you in 2014 OP?

>>8626047
REQ doesn't solve anything at all because it doesn't solve the money laundering problem. Any crypto token can be anonymously converted for laundered or drug money in both directions, this is not a rocket science. Go figure why all fiat exchanges are so fussy over KYC.

>>8626085
Hardware is inexpensive, not really an issue

>>8626122
An internal blockchain is a shared ledger that niggers like you don't have access to

>>8626155

So... a database? Nigger.

>>8626173
Just because you don't have access to it, it can't be decentralized? And I already replied to you, dumb faggot

>>8626124
right where I am today anonymous.

Ask me in 2020.

>>8626128
>REQ doesn't solve anything at all
no its just the next step into Triple-Entry Accounting, money conversion and paperless invoices/remote auditing.

also
>literally killing paypal because 7% fee can't compete with 0.7% fee

lmaoing @ your life poorfag bydlo

>>8625508
You're talking about an emerging industry with limited liquidity dumbfuck. Of course it's gonna be volatile for now. You didn't see me taking some emerging economies' currencies as an example against all government backed currencies did you? You sounded like a college freshman. Gtfo with your half-ass understanding of blockchain & economics.

And don't breed.

>>8626225
You see, REQ relies on its ERC20 token. Did you know that any token can be anonymously exchanged for, say, Monero, and vice versa?

>>8626222
>Ask me in 2020.
Sure, but your thread-pic says we are still mooning just because of the market cap <$10T

>>8626192

> Bob in accounting has access to it
> Stacey in sales also has access to it
> Therefore, D E C E N T R A L I Z E D

>>8626264
Anon, look at this.

https://coinmarketcap.com/currencies/ethereum/

Trendlines may be memes anon...
zooming out is not however.

>>8626271
INTERBANK
CROSS-ORGANIZATIONAL
Understand what I mean?

>>8626257
(you)

>>8626309
>funny image
So no arguments?

>>8626288
>let's zoom out DOW as well
It looks like mooning to the infinity
Muh, bubble

>>8626322
you don't bring arguments besides full retard ones, now go be poor somewhere else.

>>8626296

>INTERBANK
>CROSS-ORGANIZATIONAL
>Understand what I mean?

Yeah I get it. I'm just being a dick.

That sounds pretty cool desu.

>>8625907
>The graph seems a bit off if you take inflation into account.
nice observation

>>8625229
that's two words you fucking retard, opinion dismissed.

>>8626367
Do you know why we didn't collapse on Monday?

You haven't lost faith yet anon. Maybe you did not lose a house, or college tuition for your children. Maybe 2007 did not do to you what it did to many.
If it is not ignorance, it's because you were too young, but please never forget why we have all this crypto stuff.

>>8625229
Kek

>>8626372
Then go and prove me wrong. Any utility token by default is part of the anonymous crypto ecosystem. It can be freely and anonymously exchanged for any other coin. Anti-money-laundering regulations are the reason why financial institutions don't integrate crypto and why in order to buy crypto for fiat, you're required to verify you identity. Whether your token is more convenient than the rest doesn't play a role.

>>8626434
Then prove me wrong. Your co-brainlets ITT were unsuccessful by far.

>>8626462
>It can be freely and anonymously exchanged for any other coin.
so what?

>>8626566
It means it's a potential avenue for money laundering. When a financial institution redeems a crypto token for fiat, the origin of the money cannot be traced, it can be some drug or stolen money. That's why they're very reluctant to deal with crypto. Anti-money-laundering regulations are extremely tough in the West.

>>8626085
>They cost money to maintain. It's cheaper to use general purpose blockchains, even for private companies

Not really. A centralised database cluster is a lot more maintainable and has lower storage and running costs and is faster. Aside from the fact that software that utilises SQL servers is widely available and so such software exists for blockchains. Just due to the number of write commits blockchains have to be slower. Sorry.I don't think you have every worked in enterprise IT where shit actually has to work and you are not pricking around. Internal blockchains add no value, are slower and more expensive to run than database clusters. They are literally useless. Public blockchain are not, smartcontracts are not but private blockchains are fucking garbage.

>>8626646
>why they're very reluctant to deal with crypto

They are reluctant to deal with crypto because it has too volatile an exchange rate.

>>8626128
there are parts of every program that won't scale by 'throwing more hardware' at it.

>>8626646
so what?
in the end the person has to show proof where he got the money.
no proof from you = buttfucking by Feds incoming

>That's why they're very reluctant to deal with crypto.
thats wrong, they are reluctant because its not yet clearly defined which crypto is a security and which one is a utility. however these are the questions getting solved soon enough as literally every country that matters is absolutely bullish on crypto as a whole.

>>8626367
>It looks like mooning to the infinity

The current state of the stock markets, bond markets and government debt does not make a case for crypto. They can be fucking garbage and in a bubble to you know. If the USD fluctuated as widely as BTC or ETH it would have limited use as a currency too. The fact that drug dealers use BTC and ransomware are forced to use it on the perception it is anonymous when it is not really just shows you how well regulated conventional payment systems are and that drug dealers are forced to use something else, not that BTC is in its own right superior, its not as anyone why went to launder their BTC into fiat or physical at the market peak discovered. BTC was inferior in transaction feels and it was so volatile that even buying a brick of gold involved constant communication with the seller..

>>8626684
Your post completely misses the point. We're not talking about single-use blockchains, which are indeed pointless. Read >>8625554 >>8625880. You're wrong.

>>8626717
That also holds true, but in a different perspective

>>8626833
>Your post completely misses the point. We're not talking about single-use blockchains, which are indeed pointless. Read


Note I said clusters. Database clusters. If you have woked on such systems you will know at every level there is multiple redundancy. Further they facilitate disk reads an writes via fibre channel. Database and data are all about fast reads and writes. Your solution to create a private blockchain is not even in the races in performance and you cannot concentrate your best technology under it, as it is by nature distributed. Further network failures, cutting of branch offices or routing loops or whatever the fuck will still result in two subnets with wildly out of synch blockchains. Internal blockchains are a shit solution to a problem no one has.

>>8625424
you know how everyone can tell that youre a newfag larping brainlet?
youre too fucking lazy or stupid (or both) to even google when cryptocurrencies were invented. now fuck off, kid.

>>8626809
>in the end the person has to show proof where he got the money.
Easier said than done. The mere fact that it can happen is already a huge risk for fiat institutions. Money laundering is the biggest controversy around crypto, and there is no easy work-around.

>they are reluctant because its not yet clearly defined which crypto is a security and which one is a utility
The point is, crypto as a security and crypto as a utility is nothing but legal yada-yada, because they're essentially the same. In the end it boils down to the lowest common denominator. Which means, if some crypto can be used for bad things, then every crypto can, because they're all part of the same ecosystem.

>>8626917
The distributed ledger provides objective benefits over database clusters, the very same benefits that we have in crypto. Except that you can limit your ledger to a limited number of known, verified participants.

>Further network failures, cutting of branch offices or routing loops or whatever the fuck will still result in two subnets with wildly out of synch blockchains.
Not really. If a node is out of sync, it's out of sync and can't fork itself. There's always protection against such things like forking, I don't see it as too much of an issue.

>Internal blockchains are a shit solution to a problem no one has.
Like interbank transfers?

>>8625252
>>8625229

>>8625194
The Dot Com Bubble was limited to the USA, not to the whole world like crypto, right?

>>8626917
One more note on speed: notice that banks show an interest in fast DLT like Ripple, which means that the disk IO concerns obviously have a solution

>>8625194
The internet isnt free, both in money and politically

>>8625194
sry op i really do think it is over. the speculation boom is done. the next boom will be the implementation of blockchain tech. it will be performance based. we almost hit 1 trillion which is a lot seeing the world economy is in the shithole, the us dollar is shaky, and foreign affairs are all time tension. it is over.

>>8627016
>Easier said than done.
oh Mr smart figured out a way to launder significant amounts of money through crypto.
why don't you go ahead and do it then? oh right you know they will get you and throw you into some buttfuck supermax while locking your funds.

>The mere fact that it can happen is already a huge risk for fiat institutions.
you don't even need crypto to launder illegal money you brainlet, its even better to do it without because crypto leaves too much of a trail.

>Money laundering is the biggest controversy around crypto
for retarded brainlets maybe who missed the point. but yea really smart move to have all your illegal transactions on a public ledger.

>and there is no easy work-around
crypto itself is the work around, in a pure crypto focused society it would be impossible to launder any kind of money without leaving evidence in some way, from then on its a matter of time until they have the puzzle together.

>is nothing but legal yada-yada
no brainlet the legal framework is actually very very important otherwise the wallstreet money can't enter.

>because they're essentially the same.
lol brainlet

>if something can be used for bad things, then everything can
because this has stopped anything in history EVER

pic related, its you.

you're wrong because the internet is a more revolutionary technology than cryptocurrency. When companies realized the potential internet can have on business they were starting shit companies with a website and 3 employees and getting valued at tens of millions. This is because the internet does have an extreme impact on business the likes of which was never seen before, companies just jumped into it too early at the dot com bubble and failed to focus on building real businesses. Crypto is a smaller bubble in comparison because the technology is not as revolutionary.

also the internet didnt just allow us to communicate "for free", it completely changed how/why/when/ we can communicate and literally changed the lives of hundreds of millions of people. Comparing the internet to crypto is retarded. The internet is 100x the invention and still produced a bubble

>>8627367
>oh Mr smart figured out a way to launder significant amounts of money through crypto.
>why don't you go ahead and do it then?
Because it's already been done without me?
http://www.businessinsider.com/europol-criminals-using-cryptocurrency-to-launder-55-billion-2018-2

>you don't even need crypto to launder illegal money you brainlet, its even better to do it without because crypto leaves too much of a trail.
>for retarded brainlets maybe who missed the point. but yea really smart move to have all your illegal transactions on a public ledger.
How long have you been in crypto? Since December? There's a shit ton of ways to anonymize your funds: bitcoin and ethereum mixers, Monero/Dash, using offshore exchanges etc. It's very easy.

>no brainlet the legal framework is actually very very important otherwise the wallstreet money can't enter.
Can you disprove the fact that in practice no token is really different from bitcoin and monero because they can be converted one to another and passed through a bunch of mixers?

>>8625194
I don't doubt it can go much higher, but comparing blockchains to the internet is ridiculous. The internet is far more significant than blockchains ever will be.

>>8625194
Should we be able to send money for "free" I don't think the Internet of money should be completely feeless maybe instant but not feeless. Vitalik agrees as well from that YouTube video. It's just economics. Now this fee can be cheap like .5 REQ or something but still needs to be a fee.

>>8627506
>Because it's already been done without me?
and you think there is no investigation running? you think interpol, feds etc. sit around and do nothing? lol okay, tell that to the silk road dude who gets fucked by niggers in his ass everyday.

>There's a shit ton of ways to anonymize your funds
so what can you buy that does not raise questions by local authorities?

>How long have you been in crypto?
since 2010

>Can you disprove the fact that in practice no token is really different from bitcoin and monero because they can be converted one to another and passed through a bunch of mixers?
why is this a problem?

>>8625274
You're a fucking brainlet.
Look at those banks.
>1000's of employees.
>Huge buildings.

Durr durr.. It's free you guys..trust me

>>8626435
>why we have all this crypto stuff
Lambo

That great and all but all I want to know is if I should keep holding bags or just sell now and buy back at like $5K

>>8627591
>and you think there is no investigation running? you think interpol, feds etc. sit around and do nothing?
Yeah, and the darknet is still alive and well

>so what can you buy that does not raise questions by local authorities?
Elaborate

>since 2010
Huh, a 2010 oldfag who doesn't know about mixers and tumblers? You're full of shit, dude.

>why is this a problem?
It's a problem because financial institutions don't want to redeem bitcoin for fiat. Payment systems like PayPal and AliPay completely banned crypto purchases. Yet you think that just because one particular token has a very fancy appeal, they'll embrace it "because it's classified differently". When in practice, it's not different from bitcoin. What a bunch of wishful thinking.

Aren't solid blockchain projects kinda building a new layer for the existing internet, hence public blockchains will become a substantial part of the internet?
And if there are private blockchains, they are akin to an intranet?

>>8627680
>Yeah, and the darknet is still alive and well
crime will always exist so whats your point?

>Elaborate
are you retarded?
>try cashing out
>local tax office asks where you got the money from
>pay taxes and everything is fine
and...
>maybe triggered investigation you are not aware of and feds are already discovering more and more of your ukrainian childbride massage parlor

>mixers and tumblers?
the point is the money comes out on the other side but you can't proof where you got it from, can't proof its from legal business? get fined and buttfucked.

the rest of your drivel is also retarded, you are dumb and you won't make it because you are too stupid to even understand the basics.

>>8627628
Look what banks provide for you and you will soon realize, that they services contain way more than just transfering money...

>>8625229
>20 posts by this troll

>>8627797
And even unadjusted for inflation

>>8625424
>look at those 1876 stock holder laggards! They came in 4 centuries late to the game and they think they can make money out of it lol!

>>8626830
>transaction feels

>>8627378
Idiot.

>>8625424
>it's over guys

Summer's sure near.

>>8627783
>crime will always exist so whats your point?
They literally cannot defeat crypto. All they can do is blocking the gateways.

>local tax office asks where you got the money from
Tax collectors don't investigate money laundering, kid. They investigate tax evasion.

>the point is the money comes out on the other side but you can't proof where you got it from, can't proof its from legal business? get fined and buttfucked.
You're suggesting that you're innocent until proven guilty. The point is, financial institution consider ALL crypto transactions dubious by default, which would require detailed verification from everyone.

>>8627378
Bitcoin is bigger than the internet you dum dum.

>>8627929
>They literally cannot defeat crypto
they also cannot defeat illegal drugs or CP. whats your point?
crypto makes investigations actually easier, they can see when you move your money to which wallet.

>Tax collectors don't investigate money laundering, kid. They investigate tax evasion.
if you do something shady your transactions will end up on some desk and some government faggots decide what happens to you and how deep they want to dig.
if you launder money, if you evade taxes, it will be investigated soon enough.

>You're suggesting that you're innocent until proven guilty.
its the other way around, YOU have to proof that YOU did nothing wrong, otherwise you will be audited, fined and thrown into prison.
proof where the funds come from or get your money frozen/taken away.

>financial institution consider ALL crypto transactions dubious by default
financial institutions absolutely love crypto. thats why they want in so badly.

>>8625353
the point of the internal blockchain would not be decentralization but easier, unfakeable record keeping and hassle free transaction.

biztards never leave because they never make money.

>>8628129
>crypto makes investigations actually easier, they can see when you move your money to which wallet.
You're delusional. Have you heard of Monero? And how mixers work? Crypto is fucking solid. They realize it and don't want it. By the way, that silk road dude got caught because of a human error.

>if you do something shady your transactions will end up on some desk and some government faggots decide what happens to you and how deep they want to dig.
"If".. Which means they'll have to show lenience and assume that some people do NOT do shady things. That's not how things work.

>its the other way around, YOU have to proof that YOU did nothing wrong, otherwise you will be audited, fined and thrown into prison.
Then everyone has to provide proof because every crypto transaction is deemed suspicious by default.

>financial institutions absolutely love crypto.
No they don't. What a fucking delusional decemberfag you are. They might love DLT at best.

>Oh no, Pesos are used by drug cartels and exchanged for dollars, looks like we can’t accept dollars or pesos anymore!!!!!!
Only 1% of BTC transactions are related to DNMs now. Monero is likely higher but can be deanonymized 50% of the time. I expect regulations to reduce monero’s use dramatically

>>8628129
>if you do something shady your transactions will end up on some desk and some government faggots decide what happens to you and how deep they want to dig.
>if you launder money, if you evade taxes, it will be investigated soon enough.

How dumb are you? Coin mix with Monero as an intermediary and you're good to go, faggot.

>>8628289
>Monero is likely higher but can be deanonymized 50% of the time
No it can't

>>8628299
Yes it can.
>After that change to how Moreno chooses its mixins, that trick now can spot the real coin just 45 percent of the time
https://www.wired.com/story/monero-privacy/

>>8627901
lol never seen that pic, but it's pretty good.

Not even worried. Every major company is looking at how to integrate these new ideas and every major investor is looking into crypto projects.

Not all coins will be winners obviously, but the market as a whole is going to get much much bigger. I seriously would not be surprised if in a few years the whole crypto mcap reaches $15-20 trillion.

>>8628285
>And how mixers work?
but the money has to come out somewhere right? thats where they get you. you can't hide with crypto. there is always a trace to you.

>By the way, that silk road dude got caught because of a human error.
yes and they will continue busting criminals, no matter if they use crypto or not. criminals make many mistakes all the time.

>Then everyone has to provide proof because every crypto transaction is deemed suspicious by default.
thats how things will gonna be in the future, you will be watched and every transaction you make will be monitored, as long as you use approved exchanges and legal services nothing can happen to you.

>No they don't.
but they do, too many advantages in crypto.

>>8628298
>receive money
>"Mr Anon Retardinski, where you got the money from?"
>"I..uh....ehm...."
>*cops handcuff you and send you to jamal and big bubba into assrape prison*

ggwp no re

>>8628384
>checks clock
We're not in "prior to Feb 2017" anymore are we anon?

>>8628384
That's debunked sensationalism

>>8628426
Did you even read the article? Transactions prior to feb 2017 have a 90% chance of being deanonymized and after their recent fix now have a 45% chance.

>>8626128
WHICH SHOULD BE A RED FLAG TO GET YOUR MONEY(ESPECIALLY XMR) OFF BINANCE BEFORE THEY DO KYC

>>8626646
Banks fucking love money launderers, but only if they're huge; read up on HSBC. It's little guys that get shafted.

>>8628418
>but the money has to come out somewhere right? thats where they get you. you can't hide with crypto. there is always a trace to you.
Money that comes out of thin air is not really a "trace"

>thats how things will gonna be in the future, you will be watched and every transaction you make will be monitored, as long as you use approved exchanges and legal services nothing can happen to you.
Then they won't use crypto. They DON'T need crypto. Crypto is anarchy, it's fundamentally incompatible with the financial world. What you described is impossible because there will always be mixers, privacy coins, decentralized and offshore exchanges, so all the KYC stuff can only work so far. What you want is VISA on blockchain.

>but they do, too many advantages in crypto.
Too many advantages in DLT, to be precise. An international, interbank distributed ledger does that job.

>>8625194

>communicate with people around the world for free

where is internet absolutely free

>>8628465
45% of the time they can figure out who sent it, but not who the receiver was.
still pretty good

>>8628539
>Money that comes out of thin air is not really a "trace"
yes it is, good indication that something shady is going on opening up reasons for investigations.

>Crypto is anarchy
its the other way around, fiat shit is anarchy while crypto is not. every transaction is forever on the public ledger and some of your wallets are tied to your name by exchanges and their verification.

>it's fundamentally incompatible with the financial world
it is very compatible, its the next step for the financial world thats why they all hurry the fuck up to build the laws for it.

>What you described is impossible
its really not brainlet, you really think no analytical tools exist?

>mixers, privacy coins, decentralized and offshore exchanges
the moment it touches one of the approved exchanges and they see it comes from a shady source they will simply freeze your funds until you explained yourself.

>>8628692
well good thing there's going to be DEXs for that.

>>8628408
wow what a pipe dream

>>8628576
Anywhere that Elon's low-orbit satellites cover

>>8627797
adjusting for inflation like>>8627829
said and it would be much bigger gap.

There will be regulations on anonymous currencies, guaranteed. If using monero or zcash won’t be strictly illegal in the future it will definitely become an auditable event. USD cash is used for illegal activities but it’s accepted in almost every major bank across the world. It’s estimated that an average of 50% of every currency is used for illegal purposes (http://scholar.harvard.edu/files/rogoff/files/c13431.pdf))
Whether you like it or not, cryptocurrency is faster, cheaper and more flexible than traditional currency, especially with smart contracts.

>>8628748
it's not "free" if you have to spend a lot of bucks for the receiver

>>8628692
>yes it is, good indication that something shady is going on opening up reasons for investigations.
So if they're going to automatically monitor each and every transaction if it comes from an "unverified" place, they don't need crypto. It's too much of a burden. Which proves my point.

>its the other way around, fiat shit is anarchy while crypto is not.
That is bullshit, crypto is an anarchic (anarcho-capitalist) invention from the start. DLT, on the other hand, can be applied in more conventional settings.

>some of your wallets are tied to your name by exchanges and their verification
*some*

>its really not brainlet, you really think no analytical tools exist?
You're the essence of a deluded December buyer who doesn't understand why cryptography is powerful (and dangerous)

>the moment it touches one of the approved exchanges and they see it comes from a shady source they will simply freeze your funds until you explained yourself.
What I said in the first paragraph

>>8628788
>regulations on anonymous currencies
That is not feasible, alas.

>cheaper and more flexible than traditional currency, especially with smart contracts.
I can foresee interbank blockchains doing that.

>>8627680
>It's a problem because financial institutions don't want to redeem bitcoin for fiat. Payment systems like PayPal and AliPay completely banned crypto purchases. Yet you think that just because one particular token has a very fancy appeal, they'll embrace it "because it's classified differently". When in practice, it's not different from bitcoin. What a bunch of wishful thinking.
REQ = GATEWAYS why do you think it gets shilled here everyday? there is OMG as well idk. req will offer say amazon the ability to not have to even own req neither buying nor seller has to own req and pay/receive any currency they choose some negatives would be its reliance on eth if it doesnt figure out scaling but i think it will also depend on the success of being able to get data from the outside world onto the blockchain through api's hence ChainLink so funds could be held in the smart contract until proof of delivery.

>>8628812
>they don't need crypto
but they do because crypto makes it even easier for them. one world currency my dude.

>It's too much of a burden
nope, technology is advancing and so is the tech to monitor its complex structures

>That is bullshit, crypto is an anarchic (anarcho-capitalist) invention
every transaction is forever in the public ledger for everyone to see, literally giving maximum control to everyone to monitor everything.

>*some*
and as soon as they touch other wallets/forbidden currencies you get fucked in the ass.

>cryptography is powerful (and dangerous)
nothing dangerous about it brainlet

>>8627901
>he was still in his mother's vagina in 2014

>>8629047
>but they do because crypto makes it even easier for them. one world currency my dude.
Crypto as a "one world currency" is a crippled, flawed solution that only pleases bagholders like you. It's like taking a man, cutting off his cock and calling him a woman.

>nope, technology is advancing and so is the tech to monitor its complex structures
Yada-yada

>every transaction is forever in the public ledger for everyone to see, literally giving maximum control to everyone to monitor everything.
Just because that is true doesn't mean that there is just one single chain and no convenient means of anonymization. Start your research with how mixers work and then get on to Monero

>and as soon as they touch other wallets/forbidden currencies you get fucked in the ass.
"Forbidden currencies", LMAO. What a bunch of fancy bullshit. Proves my point again, one doesn't need crypto if one is a control freak. By the way, crypto can be bought and sold peer-to-peer, which means all your transactions never hit a verified exchange wallet.

>nothing dangerous about it brainlet
Everything that is encrypted is dangerous, that's why the feds opposed the cypherpunks bank in the day. But you, being a decemberfag, don't even know what I'm talking about.

>>8625194
i'm able to send money for free using paypal

>>8629248
>Crypto as a "one world currency" is a crippled, flawed solution
its the next step in the evolution of money, its a better solution to what we have now.

>Yada-yada
just because you close your eyes and ears does not mean that tech is not advancing.

>Just because that is true doesn't mean that there is just one single chain and no convenient means of anonymization.
doesn't matter because you would leave other traces, you can't hide your shady business from the government. they find ways to bust you don't worry, but if you don't believe me go and build up your criminal monero empire and see yourself.

>"Forbidden currencies", LMAO
once they can link your income to anonymous coins coming from unknown sources they will look deeper into the case and bust you, its really simple and no mixer will help you.

>By the way, crypto can be bought and sold peer-to-peer
so what? at some point you want to buy something on your gains. thats when they will catch you.
why do you pretend that you are invisible to the system when you are actually not.

>Everything that is encrypted is dangerous
no its not, a simple keylogger and a backdoor in your router/some app is enough to get your asshole fucked by FBI/Interpol.

also the fact still stands that every government that matters is bullish on crypto. deal with it.

>>8625229
>>8625554
>>8625687
>>8625880
>>8625989
>>8626128
>>8626155
>>8626192
>>8626257
>>8626296
>>8626322
>>8626462
>>8626489
>>8626646
>>8626833
>>8627016
>>8627115
>>8627299
>>8627506
>>8627680
>>8627929
>>8628285
>>8628299
>>8628439
>>8628539
>>8628812
>>8628940
wow anon u really hate cryptocurrency

>>8629448
>its the next step in the evolution of money, its a better solution to what we have now.
Institutions don't need anarchist, uncontrolled and manipulated money. The better solution for them is using DLT based on the crypto tech, not crypto itself.

>just because you close your eyes and ears does not mean that tech is not advancing.
You can't break cyphers. There are, you know, the laws of math. No fancy analyst can help that.

>can't hide your shady business from the government
>find ways to bust you don't worry
>link your income to anonymous coins
>thats when they will catch you.
>get your asshole fucked by FBI/Interpol.
All this proves how much of a hassle it is for them to deal with crypto. So much additional risk and tracking expenses. Tends of thousands of personnel.. Why? Just to please some bagholders? Get real.

>also the fact still stands that every government that matters is bullish on crypto. deal with it.
They can't be bullish or bearish by definition. They can be more or less accepting of crypto as a phenomenon, have an open mind to new technologies, but this does not necessarily lead to adoption of any kind.

>>8629625
I'm just black pilled, no hate

>>8629689
no you are just retarded

>>8630512
You're just butthurt because you bought in December

late to the party, but if ANY of you put faith in the OP's image then you belong nowhere near any position of responsibility.

this make-believe asset market that piggybacked onto a darknet medium of exchange has to be the best executed long con in some time.

the blockchain concept is just technical enough to buffalo normies and social media spreads FOMO by design.

congrats to you who figured it out.

>>8630632
I'm not butthurt at all brainlet

>>8630944
>not butthurt at all

>>8630987
fuck off retard

>>8625424
Its just some dad using his kid's idea and using him as the face of a company, big deal

... crypto is trying to fuck with established monetary systems ... what could possibly go wrong?

this little project is already dead - state issued blockchain tech and maybe down the road shitcoin will become a thing ...