/biz/ - Business & Finance

>>8634960
No.

NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO

20k by halloween*

>>8635064
This is literally impossible. It will be bear market well past Halloween. Screen cap this whole bread

https://www.youtube.com/watch?v=60Ip9qumgBc

>>8634960
Every big company says openly that the blockchain is useful tech. The blockchain is here to stay but i agree that Bitcoin will most likely die, ethereum and some chinese coins on the other hand though..

We still have the chance, this tech will be further used and as soon as it gets regulated more and big companies use it, we will have a bullrun never seen before.

>>8635064
You're going to have a very disappointing and frustrating spring, summer, and fall.

>>8635144
Dude I'm sorry to tell you this but block chain technology does not require your coins

Google these, please:

Project Ubin
R3 Corda
ABN amro production.

Bro it's like it's 2001 all over again and you're bag holding on to "pets.com" stock saying "but bro businesses are only going to adopt internet"

>>8635261
Yep. What people should be looking for is the next Amazon, or the crypto version of iTunes. I don't think they've been invented yet, though.

>>8635293
Fuck i meant ABM amro block chain.*

Also most probably don't exist yet. There are some really good things going on in the space for reducing friction in financial infrastructure, I can't remember all of them

Kabuni tech already tokenized stocks for the Canadian securities exchange, reduced settlements from 3 business days to almost instantly. And that was like over a month ago

https://www.newswire.ca/news-releases/cse-unveils-canadas-first-platform-for-clearing-and-settling-securities-through-blockchain-technology-673915213.html

But people will ignore and tout shit like btc going to 100k eoy lmao

>>8635261
Damn. I just wanted to make it.

>bitcoin is only $6800!!!

>>8635503
Private blockchains are almost worthless.
The value of "blockchain" is that it minimises trust and is censorship resistant.
If you don't need those qualities just a spreadsheet,
if you DO need those qualities then a public decentralised blockchain is needed.

>>8635667
Does it matter if in private the nodes are just companies rather than mining groups over the world? Surely there is a reason we are seeing companies launching private blockchains, right? If it was just a glorified database, then what would be the point?

>>8635536
thank you for this

>>8635293
>>8635667

Amazon is also working with r3
https://aws.amazon.com/marketplace/seller-profile?id=09f4e9ea-b200-40bb-bab3-b21b9edca5fe

and I also just remembered Jasper and bank of Canada.

And the feds also hinted at eventually creating a ledger of its own too https://www.coindesk.com/us-federal-reserve-hints-dlt-integration-new-report/

The member banks or institutions will all be participating in the 'PoW/S' to essentially decentralize it technically, but only amongst themselves or those who they allow to be part of their systems.

Its essentially like for the fed, as an example, the largest member Bank is the federal reserve bank of new York, so that one would be the largest "miner" to the usd blockchain, so the nyfed to usd would essentially be like jihan/bitmain is to btc.

>>8635717
It matters. Companies can't trust each other just because they are companies.
If your private chain isn't secure it is vulnerable to corporate sabotage, insider hacking, hacking from outside parties. (btw the existing SWIFT system, for example, gets hacked regularly).
The way public DLT is set up gives it intrinsic security advantages over private systems.
>Surely there is a reason we are seeing companies launching private blockchains, right?
Sure. Mostly just brainless bandwagon jumping. Some of it possibly a deliberate attempt to re-control the narrative.
Only a few big movers (like Lloyd Blankfein -- in my opinion a true believer) have really grasped the essence of the new tech.

>>8635717
It also prevents the 51% attack cause not just anyone can mine private. But one amongst just a company is quite small, that's why you have companies that create private block chains for businesses just to reduce friction/transaction/database costs

>>8635773
Maybe I'm being a little unclear. You can have functioning private blockchains for certain uses, but they can't replace the public ones.
You could have PWC switch to some DLT for their internal systems instead of a database,
but it's not a case that BTC could be replaced by FEDcoin

I feel like an idiot. Why the hell didn't I sell in December. Fuck my life.

>>8636039
Yeah they're completely different use cases, most private ones are using them for unit of account only more or less as apposed the actual store of value itself

And private block chains are susceptible to all that insiders sabotage I agree, some even 51% attacks from rogue employees but the key is to outsource a big chunk of the protocol to an indifferent third party, to prevent a majority attack

im dead inside you think i really care deep down? fuck no seeing 120k down to 20k you think im even worried i bought in at 2k per btc and im going to buy in again this time for fucking years until i get to 21.

HAHAHAHAHA I FUCKED UP SO BAD IM A FUCKING RETARD FUCK ME AHHHHH

>>8636298
shhhhh

>>8634960
Yeah, $7k really was the final bound. It's sad to see it end like this, but I guess people finally realized how worthless Bitcoin really is. The 2013 dip lasted 22 months. I expect a dip to $2,800 support, then sideways for a similar length. How disappointing.

I sold in December at a profit but stupidly FOMO'd back in a few days later.

>>8636298
>>8636407
Wheres the "BTC WILL NEVER BE BELOW 6800, EVER AGAIN, WERE MOONING" threads? And post a pic of the 15 min chart

>>8636079
sorry, friend

>>8635261
>>8635476
>>8635773
Pretty much these. It's hard to tell how long until btc bottoms though, it could take a while