/biz/ - Business & Finance

[Anonymous No.11396630]

It's been over a decade since crypto was created so I decided to think about what's been achieved so far. It just occurred to me that the whole thing resembles a giant shitshow now. Shitcoins, scam icos, Chinese miners, store of value, Satoshi, Roger Ver, golden bull run.

The idea was to make a worldwide common currency. Why worldwide? Because it will work only on a global scale, much like communist utopia. With decentralization we will need to learn to trust each other. Will the US implement a currency whose hashrate is virtually controlled by private companies and the Chinese? Will the federal reserve put off the crown of its head just like that? Or suppose the US will sell oil for crypto. Will other countries have to put up with converting crypto to their own traditional currencies? With globalization and transnational corporations you can only have one monetary system. And where are we now?
The countries are so distanced from each other as they've never been since cold war: trade wars (hell, even Canada vs the US, who would have thought), Trump, Russia, China, Europe, immigrant crisis. How do you implement a worldwide currency in this situation? We're far from there. What's more important do we really need it now? Are we ready for it? Pulling down the traditional centuries old monetary system is not a matter of a couple of years.
Maybe it will be done for one day but will bitcoin be the basis of it? Who knows. Blockchain is a technology, and bitcoin is a brand. The internet is a technology, and Yahoo is a brand. How can we be sure that no Google of the cryptoworld is on the way? (1/2)

[Anonymous No.11396642]

In fact nobody knew that bitcoin and other currencies would rise in value so much and I think it's pure luck and hype to me that they cost so much today. Sure it's one of a kind first mover advantage yada yada, muh 21 mln. Call it a fud or capitulation I don't care. I'm just gonna go make a paper wallet and put my bitcoin there, put it on the shelf and take it off in another decade. If it wins - good, if not - well, ok. You can go on trying to speculate on scam "tokens" or wait for "bull runs" because most of you are in there for different purposes, I understand. The crypto shitshow now serves much different people than it was supposed to.

[Anonymous No.11396666]

>>11396642
agreed

this is last chance to make it in next decade.

or it could be a meme, but what are they gonna do invent a 3rd type of money? no.

it's either crypto-digital or paper-fiat.

if you aint got pennies in both ur missing out

[Anonymous No.11396670]

so what