/biz/ - Business & Finance

[Anonymous No.20088272]

>you have 10 seconds to name a single function that cyrpto currency serves other than scamming other people out of their money

[Anonymous No.20088279]

>whats decentralization
>how new are you

[Anonymous No.20088290]

>>20088279

Decentralization of what?

What companies in the world actually use crypto and rely on it to accomplish something? Anything?

[Anonymous No.20088296]

>>20088272
>me not likey cyrpto meeh

[Anonymous No.20088298]

>>20088272
dark net payments
phone payment in contraries with tyranny
BTC is trash

[Anonymous No.20088304]

>>20088272
deFi removes inefficiency from the market, as in greedy jews

BTW if you wanna make some easy crypto here's a discord invite contest with first prize of 3 eth: https discord gg tbuEJNE

[Anonymous No.20088310]

>>20088290
What companies in the world actually use internet and rely on it to accomplish something? Anything?

[Anonymous No.20088311]

Chainlink

[Anonymous No.20088323]

destroy the profitability of crime; redistributing power from those that are capable of the doing the most evil to those that are capable of delivering others the most value

https://youtu.be/np_ylvc8Zj8
https://youtu.be/_EQDiJ92VaI
https://youtu.be/owbG0YAsb5E
https://youtu.be/-YgFDZNXPyg
https://youtu.be/6m5Q_mCK58o
https://youtu.be/UFDCC6sRDr0

[Anonymous No.20088324]

>>20088272
I agree with you anon. I don't go for the coin meme becasue it's in fact a meme.

CASH IN KING

[Anonymous No.20088327]

Paid your mom 2 xrp for a blowjob

[Anonymous No.20088344]

Cheap, fast, and safe transfer of value. Something that can't be done any other way. If you've ever tried to send money using PayPal or western union you know how much of a godsend this is for just sending $$$ alone. Then you get into the weird shit like smart contracts and oracles, easy loans without legal interference, too much to list really. Best to let aside 40 or 50 hours and do a little reading to brush up and get an entry level understanding of the normie level shit.

[Anonymous No.20088346]

>>20088290
>whats IOT and AI
Seriously go back to plebbits

[Anonymous No.20088353]

>>20088310
The internet honestly does not do anything a fax machine and competent office staff couldn't do. Not a good example

[Anonymous No.20088365]

>>20088353
t. Boomer

[Anonymous No.20088399]

>>20088327
You're way overpaying she would have done it for free

[Anonymous No.20088400]

>>20088353

[Anonymous No.20088482]

>>20088353
yet here we are

[Anonymous No.20088488]

>>20088272
you can transfer wealth without banks. period. that is all. the unique selling point. every other function is nice but being able to retake power over currency is the main feature. that is why high power people are scared.
banks crashing? -> crypto no bail in possible
bank run and limit on cash -> crypto
taxation to the fullest? -> ayyo lmfao crypto
money printer goes brrrr (i.e. your country's people's workforce is sold to pay the debt) -> crypto
...
crypto is more dangerous for governments abusing their powers worldwide than the 2nd amendment is for potential dictators. the reliance on a functioning internet is like taking a hostage: you cannot ban crypto. it would either crash your economy -> people in the streets calling for revolution or in case of a selective ban (e.g. blocking traffick of the bitcoin network) people recognizing shit is gonna hit the fan -> people in the streets calling for change.
even if you shutdown the internet completly you could develop new cryptos utilizing some proof of stake for offline uses.

>>>
it is not the value of a minmum transaction unit or the stavility of that value. it is the decentralized transaction system itself.
<<<

you could establish your own neighbourhood currency with a few clicks (and crash it with pumps and dumps immediately if you can't see the bigger picture here). this makes the ubiquitous meme "without the government and banks we would fall back to bartering bread and butter" obsolete. every group of people can say "fuck the banks" and create their own nation by simply creating a currency and a contract to follow some rules. they can now build up their own economy.
btw it was clear those chaz/chop people in the u.s. would fail. even disneyland has its own currency.

[Anonymous No.20088516]

>>20088353
Kek i hope you are trolling

[Anonymous No.20088540]

>>20088488
That is BY FAR not the only selling point. What the fuck os happening to /biz/ you people are literal retards. A distributed public ledger has tons of more usecases, ai, iot, voting, FUCKING SMART CONTRACTS, ELIMINATING THE MIDDLE MAN, DEFI

HOW FUCKING NEW ARE YOU ALL, GO BACK, GET OFF MY FUCKING BOARD

[Anonymous No.20088554]

Chainlink enabled smart contracts enable totally peer to peer derivatives contracts with no central clearing and no counterparty risk.

That was not possible before crypto.

Cryptocurrencies themselves are the only currencies that you can securely own large quantities of and not have it be in someone elses custody like a bank or broker.

[Anonymous No.20088559]

>>20088290
Lambos

[Anonymous No.20088649]

>>20088353
>>20088482


Imagine replying to green texts via fax.

[Anonymous No.20088667]

>>20088272
Scamming me out of my money

[Anonymous No.20088687]

>>20088540
kek. nice bait but if serious you'll ngmi. every other shit you mentioned can be achieved otherwise. e.g. public ledger, you don't need a blockchain for that retard. public reading access to banks' and states' databases.
> bye bye mitm
that's a part of what i wrote.

[Anonymous No.20088701]

>>20088323
Transfers power. Be concise.

[Anonymous No.20088736]

>>20088687
Fuck off nigger, smart contracts and every other usecase i mentioned need blockchain to be truly decentralized

[Anonymous No.20088748]

>>20088399
She does it for free the ?

[Anonymous No.20088751]

>>20088272
>...8
>......... . 9
>Te-

[Anonymous No.20088794]

>>20088272
Money laundering and drug purchase.
Wide adoption just around the corner!

In all seriousness, crypto has provided one good thing: it has demonstrated empirically how unpractical and volatile the world would be if it adopted a libertarian-based economy.
The pinnacle of meme ideologies.

[Anonymous No.20088855]

Kleros

[Anonymous No.20088873]

>>20088290
>Decentralization of what?
Control

[Anonymous No.20088890]

failed national currency insurance

[Anonymous No.20088915]

>>20088272
Financial freedom

[Anonymous No.20089042]

>>20088272
I know most cryptocurrencies are money making scams and pump and dump schemes. That's why I buy them. Literally free money.

[Anonymous No.20089056]

>>20088290

see this:
>>20088873
Decentralization is a concept as old as democracy (or I guess more specifically, the republic)

As things are now, you have a lot of centralized control over the flow of data. Data is largely stored on massive supercomputers and centralized server clusters that are geographically accessible by only a handful of people. These are typically owned and operated by super tech monopolies that are profit-oriented, multinational corporations. These companies are easily influenced by state actors, regimes, governments, through money, lobbying, or just plain ol' coercion. Perfect example is how China's influence over social media causes censorship that ripples throughout the so-called "free" world. These monopolies crush or buyout their competition, while trying to cater to a global market that is corrupted by oppressive forces.

So, instead of having all of our data controlled by these companies that act as middlemen via centralized data storage, we can take our data and use the blockchain to verify the integrity of data stored across millions of computers in a kind of peer-to-peer network that is virtually impossible to hack, impossible to censor, and impossible to impede.

Cryptocurrency is just an example of ONE technology that uses the blockchain... particularly in the exchange of currency. Cryptocurrency is to banking as the republic was to monarchy. Big banks are no longer in control of the exchange of value for goods and services.

[Anonymous No.20089113]

>>20088272
>What are smart contracts?
>What is store of value?
>What is asset tokenization?
>What is dispute resolution?

[Anonymous No.20089122]

>>20089056

The idea of decentralization is so revolutionary and threatening to the establishment that we are experiencing the turbulence of coming revolution. China is falling apart. Institutions that used to reign supreme and control our lives are going fucking bonkers (news media, social media, banking institutions, etc). These institutions are so desperate to maintain control over the masses that they'd rather firebomb us all to hell and back than give it up, which is precisely what is happening. Its an ugly dead cat bounce of a world created by pot smoking baby boomers and the greedy politicians that depend on that brand of idiocy to retain power and money, and its going to get a hell of a lot worse, but thankfully it is too late for them to save their corrupted empires.

They supremely fucked up with the internet. They didn't foresee the ramifications of free exchange of knowledge and global communication. They underestimated it, because they are old fuckheads that probably don't even know how to log in to check their emails. These are old farts that type using only their pinkies and its shameful that they are still in power to begin with.

[Anonymous No.20089157]

>>20088748
The janny's mom
Has got it going on
She does it for free
And she sucks on my dong
Janny can't you see
You'll just have to sit and REEEEEE
I know it might be wrong
But
Janny's mom has got it going on

[Anonymous No.20089449]

>>20089056
Digital second amendment, however, is impossible.
Government will seize and outlaw all these assets when the scheduled moment arrives.
Soon?

[Anonymous No.20089513]

>>20088794
Before the middle of the last millennium, most coins were privately minted, and trade throughout most of the world was carried out using these privately minted coins. Even after the Royal Mint was established in the Tower of London for example, monasteries and other institutions continued to strike their own coins for centuries.

There is nothing wrong with this system besides the fact that central banks and governments don’t like it.

[Anonymous No.20089532]

>>20089449
>forbes

lmao, ok kid

[Anonymous No.20089556]

>>20088272
Suterusu will make any chain private. How bout dat. Main net's in a few months. Don't get priced out. (it hasn't even moved yet)

[Anonymous No.20089758]

>>20089513
It has disadvantages, like being much less flexible and standardized.
The move from gold to paper money was not declared overnight. People just gradually moved from gold to promissory notes, and from those to modern currencies. Because they gradually realised it's more convenient. That's the key word, it wasn't a government conspiracy.

Crypto is highly inconvenient compared with modern day bank transfers. So there's no way people are going to adopt it.

Even if they did, then "investing" in crypto would be a terrible idea, since currency investment has shit returns compared with index funds.

I'm interested in investing, not gambling or monetary policy.

[Anonymous No.20089775]

>>20088272

Orion protocol enables exchanges to scam you out of your money, so I bet my money on the infrastructure and not shitcoins

[Anonymous No.20089800]

>>20088290

Are you from 1800? Think about what the internet did. It gave you FREEDOM OF CHOICE

>You no longer need TV to get video entertainment
>You no longer need Radio to listen to songs
>You no longer need Libraries to read books
>You no longer need Media to get information
>You no longer need proximity to meet new people

And soon we will no longer need Banks to use money

[Anonymous No.20089812]

>>20088353

Go on, do some gene sampling analysis via a fax machine. I'll wait.

[Anonymous No.20089821]

>>20088353
>The internet honestly does not do anything a fax machine and competent office staff couldn't do. Not a good example

[Anonymous No.20089849]

>>20089758
>People just gradually moved from gold to promissory notes, and from those to modern currencies. Because they gradually realised it's more convenient. That's the key word, it wasn't a government conspiracy.

It literally was, though. Governments mandated payment in the national currency, pushed banknotes on the public and then pulled the old switcheroo, unilaterally suspending convertibility into gold, first temporarily like after the Napoleonic Wars or during World War, then later permanently.

But there was never any natural distancing from precious metals. It was all driven by government mandate, and we know this because no Western government today allows precious metals to be used as legal tender.

[Anonymous No.20089899]

>>20088290

[Anonymous No.20089938]

>>20089849
>It literally was, though. Governments mandated payment in the national currency, pushed banknotes on the public and then pulled the old switcheroo, unilaterally suspending convertibility into gold, first temporarily like after the Napoleonic Wars or during World War, then later permanently.
That happened centuries after people had realised that trading promissory notes was more convenient. It happened way after paper money had organically become the de facto currency.

Currency exists to facilitate trade, and people need to trust that it's both going to be WIDELY ACCEPTED and STABLE.
Crypto is neither.
> But 2% annual inflation!
That is absolutely dwarfed by the volatility of crypto.

[Anonymous No.20090078]

>>20089899
I don't see (You) on the image, who the fuck cares about big companies?

[Anonymous No.20090080]

>>20089758
>>20089758
You are an idiot.

The "inconvenience" of having to be tech savvy enough to use crypto is a temporary hurdle at best in the grand scheme of things. What you are failing to realize is that the "convenience" of banking is the only thing that necessitates it anymore. Banks themselves cost money to operate, and they charge money to use. They require personnel and overhead, etc.

This is a big price to pay just for the convenience of being able to swipe plastic at an atm. Cryptocurrency is catching up, and when people realize that you don't need a middleman anymore, banking as we know it will be gone.

>I'm interested in investing, not gambling or monetary policy

This sums you up well. You want returns but you don't want to risk anything to get them, and you think this makes you sound smart but its only stating the obvious. Not only that, its completely wrong, because you are always gambling when it comes to markets, no matter how safe you think it may be, it could flip in a moments notice. This illusion of safety is why someone like you will never realize their full potential. "Investing" long term in crypto is a terrible idea to you, but only because you weren't forward thinking enough to take the risk when you should have, and so now you have this jaded coping mechanism of fud spreading.


>>20089938
>Currency exists to facilitate trade, and people need to trust that it's both going to be WIDELY ACCEPTED and STABLE.
Crypto is neither.

That is where you are wrong, because it is already both. Is it as widely accepted as traditional banking? Of course not... I'll give you that. But even by your own admission that is merely a matter of convenience. Never forget to always follow the money... a practically autonomous ledger is far cheaper to maintain than centralized banking institutions, and that is simply something that can't be competed with once crypto inevitably becomes more accessible.

[Anonymous No.20090115]

>>20090078
>anon asks which companies use it
>post which companies use it
>"uhmmm who cares about companies"
slit your wrists

[Anonymous No.20090477]

>>20088794
Lol you’re an idiot. It’s clearly working. There are now other projects working to create stable currencies based on a basket of underlying assets.

[Anonymous No.20090578]

>>20090080
>temporary hurdle at best in the grand scheme of things.
"The second coming of Jesus is right around the corner. Any day now!"
We've been hearing that for 10+ years.
Every major vendor that tried it rolled back on the project. You even some crypto conventions didn't accept crypto to pay for the tickets.

>Banks themselves cost money to operate, and they charge money to use.
They pay for that by providing a service: loans. I don't pay to have a bank account or transfer money.

>You want returns but you don't want to risk anything to get them
I invest in globally diversified index funds. Could they go to zero? Sure.
But I guarantee one thing: you're as fucked as I am if that happens, because capitalism as ended. We're talking global societal collapse.
Good luck trading your meme coins without electricity or the internet.

>"Investing" long term in crypto is a terrible idea to you, but only because you weren't forward thinking enough to take the risk when you should have, and so now you have this jaded coping mechanism of fud spreading.
Crypto doesn't give you ownership in a company which produces products that people want to buy, has revenues, and physical assets that can be liquidated in case things go tits up.
It's only worth as much as the next person is willing to pay (while the exchanges skim fees on top of that).

>a practically autonomous ledger is far cheaper to maintain than centralized banking institutions,
Crypto not only consumes a shit ton of energy, it doesn't scale well either. And before you say that banks consume energy, they also provide other services that crypto doesn't.
As for "eventually" becoming more accessible: doesn't matter if there's no adoption.
Momentum is key in determining if a piece of tech is going to be adopted. And I don't see crypto gaining enough traction.
In 2017 I got tons of job ads for crypto startups. All of those have died and you don't see any new ones replacing them.

[Anonymous No.20090582]

>>20088272
VRA
Get paid for esports and to watch stuff

[Anonymous No.20090638]

>>20088272
Monero is money for the internet. Every other crypto is garbage but XMR does a job.

[Anonymous No.20091424]

>>20090578
>We've been hearing that for 10+ years.
You can't see the forest for the trees, because if you'd truly done your due diligence, you'd realize the vast improvements and strides that have been made in the blockchain. Just because you don't understand it, doesn't mean its not there. Many people do understand it, and millions are working to develop it.

>They pay for that by providing a service: loans.
How they pay for it is inconsequential to the fact that they still have to pay for it. Not sure what you're trying to say here.

>Good luck trading your meme coins without electricity or the internet.
You said it yourself: "We're talking global societal collapse". Don't think I'm gonna be too concerned with currency exchange at that point. The same argument you use here against cryptocurrency could be used against centralized banking, but I can assure you one thing, index funds would go down long before crypto did. It wouldn't even be close, but thats tit for tat.

>Crypto doesn't give you ownership in a company
This is not correct. There are contractual incentives in staking in many cryptocurrencies. You'd be an idiot to think that someone who holds a big chunk of any given crypto doesn't have influence on the direction of the project.

>which produces products that people want to buy, has revenues, and physical assets that can be liquidated
Physical assets vs raw liquidity makes no difference, its all money at the end of the day.

>Momentum is key in determining if a piece of tech is going to be adopted.
You say that like momentum is this abstract magical force that appears out of thin air, without recognizing the practicality of blockchain as the primary impetus that drives the momentum of cryptocurrency

>And I don't see crypto gaining enough traction.
Again, this is why you're not an early adopter. You buy the rumor and sell the news, remember? Not the other way around. If you're okay with 6% annual returns, thats on you

[Anonymous No.20092044]

>>20091424
>You can't see the forest for the trees, because if you'd truly done your due diligence, you'd realize the vast improvements and strides that have been made in the blockchain.
Blockchain is an open source inefficient database.
Any company can use it, and I don't care. If I invest in a company, it's because they have a product people want to buy, I don't care if they have implemented their sales database with SQL or Blockchain. The backend is irrelevant.
Investing in something "because they use blockchain" is the same argument as investing in a company because they use math.

>How they pay for it is inconsequential to the fact that they still have to pay for it.
It means that the costs are not passed down to me. Whereas I have to pay for every bitcoin transaction.

>I can assure you one thing, index funds would go down long before crypto did.
The whole world capitalist system would go down before a niche tech with 10 years of existence?
Come on, be real.

>You'd be an idiot to think that someone who holds a big chunk of any given crypto doesn't have influence on the direction of the project.
Because exit scams are unheard of in crypto.

>Physical assets vs raw liquidity makes no difference, its all money at the end of the day.
Yes it does. Otherwise real estate or gold would have no value.
It gives far more security and confidence when there's a physical asset attached to a security.

>You say that like momentum is this abstract magical force
I've worked next to people involved in crypto projects, and I've seen the demand for developers and researchers to join crypto-related start-ups.
They are dwindling.

This is the rumour I'm looking at. I'm looking at how vibrant is the start-up scene, because that's where things start before they go big. Newsflash: the fad is over.
Now you can take your news sources from crypto Twitter. I'll keep the job market as my news source. The one that's less biased is the one that's not trying to sell you a new coin.

[Anonymous No.20092644]

>>20092044
>Blockchain is an open source inefficient database.
I don't know much about time/space complexity of data structures such as doubly linked list blockchain type model, especially when accessed over peer-to-peer shared resources, but I can tell you what I've read, and that is we are fast approaching a point where our current implementation of centralized data storage simply won't cut the mustard with rates of data that need be exchanged. But I will admit I'm not that much of a developer to argue one way or the other.

>If I invest in a company, it's because they have a product people want to buy
If I invest in a company, it's because they have a product people need to buy

>The backend is irrelevant.
It is very relevant when it can be exploited to suppress, censor, manipulate, and coerce.

>Investing in something "because they use blockchain" is the same argument as investing in a company because they use math.
Not a good argument to make, because I'd surely invest in a company that uses math rather than one that doesn't.

>The whole world capitalist system would go down before a niche tech with 10 years of existence?
The problem with this "too big to fail" logic is that it is not capitalist at all. It is the byproduct of monopolization and unfair advantages given to corporations due to corruption and favoritism... very anti-capitalist actually.

>Because exit scams are unheard of in crypto.
Exit scams exist solely because of fiat exchange. You can't blame blockchain for people who want to use fiat to exploit it. That's a problem that is an example of the abuses of centralized models, not an argument for their use. Its essentially victim blaming from poor defenseless multinational banking institutions.

>Yes it does. Otherwise real estate or gold would have no value.
False dichotomy. It's not an either/or situation. I'm saying fiat money as a result of physical assest spends just the same as fiat money from liquid assets.

[Anonymous No.20092683]

>>20088310
And tptb have been trying to restrict communication on the internet ever since. You honestly think they'll ever make the same mistake with something like crypto, where, unlike gaining rapid communication and data retrieval like with the internet, they only stand to lose?

[Anonymous No.20092735]

>>20092044
>I've worked next to people involved in crypto projects, and I've seen the demand for developers and researchers to join crypto-related start-ups.
>They are dwindling.

They may very well be, but that is oversaturation of developers. I think a case could be made (if I had the time to look it up) that start-ups in general are dwindling, to which you should consider the actual cause, which has nothing to do with decentralized data, blockchain or cryptocurrency adoption, and everything to do with the fact that multinational corporations are out of control. FAANG and company is unstoppable at this point, and not due to capitalism, but due to cronyism and globalism where you have nations like China that represent a huge market and seek to exploit all the benefits of capitalist nations while denying people the very fruits that they create. Globalist capitalism only works when everyone in the system abides by the rules, and that will never be the case.

[Anonymous No.20092768]

I am literally only into crypto because fuck the Jews.

[Anonymous No.20092795]

>>20088272
Moving money across borders without KYC, fees, or taxes.

[Anonymous No.20092808]

>>20088290
>Decentralization of what?
btc = digital commodity
eth = virtual computer
xmr = anonymous currency
ect

[Anonymous No.20092851]

>>20088272
If you can’t see it by now you never will go invest in something else.

[Anonymous No.20092857]

>>20092735
When I mean they are dwindling, I mean that when I'm looking at new startups, I don't see crypto as much (proportionally to the amount of start-ups out there, not as a total number).

But if you do as much DD into the sector as you claim, this should be one of your top metrics. Actually measure the ratio between crypto startups vs total startups.
If it reflects my experience, you'll see a peak in 2017 with a drop after that.

[Anonymous No.20093047]

>>20092644
Look I'm not going to bother at this point.
You're clearly emotionally / politically invested in it.
That's the wrong way to approach investments, you should never fall in love with them.

But you do you.

[Anonymous No.20093094]

>>20092768
They can easily use this against you, for example with chainlink they make a point to pretend they're antisemitic when really Jews control that token. You have to understand the fundamentals to know how to fuck the Jews. Creating a digital money like bitcoin takes away their power at banks today. But bitcoin has critical problems and they know that by stalling all real development through btc core, bitcoin can never be a threat. Monero could actually work and replace the dollar but they'll steer most people towards btc which is controlled opposition at this point.

[Anonymous No.20093262]

>>20089758
>Crypto is highly inconvenient compared with modern day bank transfers
Crypto is highly convenient compared with opening a modern day bank.

>currency investment has shit returns compared with index funds
You're measuring the returns of the index funds in the currency which is expanding in supply exponentially. That's stupid. As more dollars are created, more of them move into stocks, raising their dollar denominated "value".

[Anonymous No.20093273]

>>20088272
Decentralized disputes and resolutions