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/biz/ - Business & Finance

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1987680 No.1987680 [Reply] [Original]

What is the purpose of 99% of shitcoins? Do devs even pretend it's supposed to be a currency or just admit it's to make money?
And will bitcoin even see mass use when it keeps fucking deflating forever?

>> No.1987684

>>1987680
Pump and dumps to make NEETS some lunch money.

>> No.1987690

>>1987680

If you actually read up on the tech, you'd realize blockchains are alot more than a couple cents

>> No.1987709

>>1987684
This
Most shitcoins are scams.

>> No.1987737

>>1987680
Some coins actually have value and real applications, like Bitcoin, ETH, POSW, Dash, Golem, RLC, etc. Then you have shit like Vertcoin, Milocoin, Pinkcoin and countless more that are completely useless memes designed for quick pump and dumps

>> No.1987760

Why hasn't /biz/ created an own shitcoin yet?

>> No.1987769

>>1987760
HOLO - Holocoin
Total supply of 6 Million
Smart gas contracts

>> No.1987772
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1987772

>>1987680
some handy use of btc

>buying vpn
>online gambling, no regulation
>buying stocks. especially for traders btc stock/forex brokers might come handy

>> No.1987806

>>1987772
And it's very fucking slow. You'll be screaming at your computer when BTC takes an hour for three confirmations

>> No.1987845

the point of shitcoins is to make more btc. Falling in love with them is the roat to ruin.

>> No.1987872

>>1987806
Because a wire transfer to a broker is faster?

>> No.1988964

>>1987737
>Milo
>Shitcoin
You won't be saying that in one year when it's adopted as the leading international currency and I'm in my condo sipping liberal tears

>> No.1988981

>>1987872
Most brokers have a settlement time 3 hours for wire transfers, and give you a loan in the mean time that is restricted to marginable securities. So unless you're buying penny stocks or options, it's a moot point.

The real money is in the tech behind block chain, though. It wouldn't surprise me if a consortium of brokers, banks, and financial institutions make their own coin soon to replace wires.

>> No.1988999

>make up funny sounding piece of computer data
>spam a board of low IQ NEETs with delusions of wealth
>???
>profit

>> No.1989639

>>1987772

Where can you trade stocks with BTC? Are the fees better than a regular broker? I don't mind slow-ish transactions as most of my plays are for weeks/months but I hate the jew fees and apps like robinhood aren't available in my country.