/biz/ - Business & Finance

>>8815840
99.999% are here for teh gainz

>im just here for the technology

Do you know what will be awesome? p2p lending once it is fully deployed and sophisticated. By then you'll have some decent savings, and instead of plonking it in a bank account for laughable interest, you will be able to go on a lending app, set your interest and terms, and be the lender. You'll be your own minibank.

It will be great when the mark of the beast will finally be implemented. Super excited about the effective and efficient enslavement of every human

>>8815840

Actually yes I think blockchain will play an important part in the development of AI

>>8815870
that sounds fuckin retarded, what's stopping someone from defaulting on all your p2p loans

>>8815840
kind of but I'm more excited about having enough money to not have to work desu

I'm still salty about never doing more investigation into BTC when I learned about it on 4chan in 2009.

>>8815902
i know i would kek

>>8815902
Why do people who repeat this stupid FUD think that in the future there won't be an entire market of insurance and enforcement mechanisms built around this? Society will be MORE controlled by data. The consequences for loan default will be MORE baked in than they are now. Your credit rating and payment history will be a transparent part of the process.

>>8815840
Its still the only form of payment for microtransactions that cant be reversed. So if I sell you something digital, I know for sure I received payment unlike with chargebacks on every other platform.

>>8815840

Give me money, or give me death.

>>8815840
yes but then you realize it won't take off without a good oracle solution, so if link fails there better be a good alternative or we're all screwed

>>8815902

one of two solutions. Up front collateral held in a smart contract, which could be risky for the lender since it could devalue over time... or we put enforceable laws on the blockchain via oracles

>>8815902
I am far from an expert but I am guessing it could work. Assuming a dapp is made with infallible code, it could take as collateral investments/crypto holdings that you are staking or don't want to otherwise use for liquidity.
That would of course mean that you can only borrow an amount as big as your current net worth thus making a p2p lending network rather limited, but safe for the lender nonetheless.
A credit score system could also be implemented to allow lending at 'their own risk' with no collateral etc.

>>8815902
Blockchain tied ID. Blockchain tied credit score. Blockchain credit scores are even less forgiving than traditional credit scores. If you fuck up and can't pay back the loan you'll pretty much never get a loan again.

>>8815902
Loans would most likely be spread out. So if you put in $1000 in btc, itll be spread into 100s of loans rather than relying on a single person to pay it back.

>>8815996
at 'lender's own risk'* mb

yes meme chart soyboys will become useless

I'm excited to escape fiat.

>>8815996
Blockchain based credit ratings are pretty much guaranteed. Lenders will have access to all the information they need.

>>8815840
Put a dick in your asshole

>>8815840
no i dont know what the fuck blockchain is. i just want to get rich. finally got to 100 Ethereum. hope it hits 5 or 10k by 2022

>>8815840
>what it holds for the future?
Peer-to-peer payments and shit.
>but it already works
Yes, but needs improvements.
I can imagine more, but really not everything needs blockchain.

>>8816033
Good. Being from a shithole country that has been rekt by banks giving out loans the way mosquitoes give malaria in Africa, I can't wait for such a future.

Super hyped here.

I was reading a very famous study called "The market for lemons" that is about how information asymmetry between buyers and sellers can make markets way less efficient and even completely destroy them, the old "the bad drives out the good".

The potential of blockchain technology to make access to relevant information more balanced means that we will create lots of markets that don't even exist today, we're talking about trillions and trillions of dollars of new markets that only will be possible because of blockchain technology.

ETH IS COOL

>>8815840
When we get a paid version of the tor network with proven anonymity it will completely change the internet.

Combinations of Sia, Iexec, and new yet to be deved tor layers will be fuking amazing.

>>8816127
yes its like moores law breaking down and ending. so will "gershams law" of bad money driving out good. good money is her now and more is coming WAU COIN, NUMA , Bitcoin, and more

>>8815870

>>8815840
I'm excited about putting all the beurucratic government leeches out of work once smart contracts reach their true potential.

>>8815840
I am, but I have my doubts its full potential is gonna be realized in crypto.

>>8816152

Blockchain can even make economies of scale irrelevant, this is fucking huge. Imagine individual grocery stores pooling resources together to buy from suppliers together, they would be able to compete with walmart in prices.

>>8816159
this
best part is that they won't even see it coming

Reminder that there are *very* few sensible applications of decentralized ledgers.
Reminder that it's costlier, more complex and harder to get right, look at the numerous failures of Solidity contracts even when not written by js web-"developers".
Reminder that there's still loads to figure out before any of the pie-in-the-sky shit is conceivably secure, scalable and usable.
Reminder that not everything just has to be decentralized.
Reminder that people don't really care about its benefits anyways, as they don't care about privacy.
Reminder that there's only one undeniable killer app beyond Bitcone's SoV and it's illicit markets.

I just want my money back. Hell, even a half of them at this point. You can shove blockchink bullshit right up your ass retards. Fuck everyone here. You made me buy into this ponzi.

Cindicator can predict the future

>>8816241
Don't you think that's a bit far off?

>>8816241
fuck ya. so many possibilities. my favorite is people using money that makes them wealthier just by using it and holding it. I see humans entering a new age of wealth the same way we arent cavemen anymore. EVERYONE wil bee wealthier WAU COIN x 7 billion

>>8815840

>>8816302
This

>>8816005
oh this is smart

>>8815840
What technology? It's a ledger. They've been around forever.

>>8816614
smart contracts

>>8815840
Im only here to get rich so I can buy pussy

>>8816302
Reminder that some of us understand the idea that Rome wasn't built in a day
Reminder that the ultimate tide of change is unavoidable
Reminder that you sound like someone from the 90's saying the Internet has limited applications and won't be revolutionary in the slightest
Reminder that we think bigger that you do
Reminder that you're a faggot

>>8815981
terminator robot that only stops hunting if the smart contract approves it

>>8816694
Quite literally the meaning of life.

>need to cum inside of vaginas
>roasties only allow creampies if you have nice nest
>sell soul and wagecuck
>hate life all to get comfy nest for roastie with shiny things
>roastie approves of shiny things allows me to sex her vagina
>no creampies until I provide more shinies
>finally get enough shinies for creampie
>roastie taking birth control and only used me for shinies
>runs off with chad
>turn to thai hookers with crypto gains from wagecuck capital
>get sick of women due to amount of sex
>genetic seed stays in trap butthole for eternity
>die of aids

mfw when, this is meaning of life

>>8816922
I laffed thankyou anon

>>8816922
you fucked up somewhere

>>8815870

If this actually happens, interest rates will be driven down close to 0% by the sheer offer of loans and the reduced risks of lending due to distribution of loans among many borrowers.

>>8816842
>Reminder that we think bigger that you do faggot grandpa faggot !!!1!!1
Sounds like bubble-talk. Have fun trying to pick whatever project's cut out to survive. Most of them are absolute trash if you know anything. Most would be better off using an Excel spreadsheet.

All of what I said is true and the hype in this space is already absolutely ridiculous. Even my grandpa owns Bitcoin, I never told him about it, and you can shove the "ah ah anecdotal evidence" up your ass, you don't have to look too far to see how popular BLOCK CHAIN, Binance, Tron and losing your student loan on Mex is.

>>8815840
Yes.

>>8816628
It may surprise you to learn contracts have also been around forever and slapping "smart" onto it doesn't change anything.

>>8815840
Future of enslavement. Everything about you on a blockchain.

>>8815879
you will never be able to buy anything illegal ever again because the blockchain will be 100% public and monitored and physical money will no longer exist.

>>8815840
No

>>8815902
You can make interest free micro-loans to negros in Africa right now. The default rate is about 5-10 percent.

(You can use these micro-loans to churn high reward credit cards, like that time US Bank has a 10% back on "charity" payments so you could lend negros money and get paid for it).

The trick to lending money to negros, however, was to diversify into semi-reputable negros. Applied to peer-to-peer lending, it would be having access to others credit scores and being able to make micro-loans spread across a wide range of people instead of just one person. If somebody wants a $1000 loan, they would get $10 from $100 people instead of $1000 from one "institution" like a bank.

>>8816853
we must destroy the oracles to save humanity!