/biz/ - Business & Finance

[Anonymous No.53279889]

Since ETH switched to POS why aren’t people dumping it in mass? What the fuck is the point of it holding it as an asset? Please explain to me why visa or Mastercard couldn’t create a better centralized system for transactions?

[Anonymous No.53279898]

>>53279889
Well why haven't they?

[Anonymous No.53279917]

>>53279889
>hundreds of millions of dollars of annual sell pressure disappears
>why aren’t people selling?

[Anonymous No.53279931]

>>53279889
stackers can't sell lol. new supply creation reduced b/c it's centralized. not bullish but in clown world artificial scarcity, eth will die once stakers are let to widthdraw

[Anonymous No.53279942]

>>53279898
I think ETH is doomed to fail now that the network is centralized. Plus a new shitcoin pops up every week meant to kill ETH. I suspect these companies are playing around with the tech.

[Anonymous No.53279946]

Eth has a crazy ass rich cult due to nfts now

[Anonymous No.53279960]

>>53279942
Shib is still decentralized a d it's on eth... so I would get some

[Anonymous No.53279965]

>>53279917
My mind is still blown away ETH is $1,600. I think a lot of people are going to get burned. I’m truly asking why people are holding. All my friends just give me moon boy answers, they’re all speculators and not using the network.

[Anonymous No.53279975]

>>53279960
Is the a troll answer? I feel this is an answer someone would give in a big short type of movie.

[Anonymous No.53279995]

>>53279942
People have been saying this for awhile but nothing has happened

[Anonymous No.53280030]

>>53279995
But ETH has always been decentralized dude. If ETH stayed the way it was it was I could argue that it would be more valuable than BTC.

[Anonymous No.53280041]

>>53279889
>>53279898
> Please explain to me why visa or Mastercard couldn’t create a better centralized system for transactions?
> Well why haven't they?
They will eventually, but it will run on Etherum:
- https://www.coindesk.com/tech/2022/12/20/visa-proposes-automatic-payments-using-ethereum-layer-2-solution-starknet/
- https://usa.visa.com/solutions/crypto/auto-payments-for-self-custodial-wallets.html

[Anonymous No.53280117]

eth is really gay, im glad it is dead

[Anonymous No.53280128]

>>53279889
You'd have to be a fool to hold it. It's only a matter of time when there either some type technical crash or some government intervention.

[Anonymous No.53280132]

>>53280041
OP COMPLETELY BTFO

[Anonymous No.53280145]

>>53279942
ETH is the second most decentralized crypto behind BTC. And BTC is useless for literally anything.

Ergo ETH is the best decentralized crypto that exists if you actually want to do anything on a blockchain (transfers, swaps, transactions, NFTs, etc)

[Anonymous No.53280247]

Have you considered that your baboon delusions don't line up with reality?

[Anonymous No.53280275]

>>53279889
institutions and corporations will use Avalanche Subnets.
Ethereum is basically dead. the baggies dont know it yet.

[Anonymous No.53280298]

>>53280041
Do you understand that Visa could one day own Ethereum?

>>53280128
It’s literally a security, I agree.

>>53280145
Dude. It is a centralized blockchain, proof of stake.

>>53280247
No I’m not as smart as you. Please explain to me why visa or Mastercard couldn’t create or acquire a blockchain.

[Anonymous No.53280307]

>>53280275
enterprise blockchain is the best meme, sorry you fell for it

centralized servers do everything better than a blockchain for corporations, they literally don't need a public ledger. Like for anything. it doesn't even make sense to post private enterprise data onto a public blockchain

[Anonymous No.53280316]

>>53279965
I agree with you.
I only dca bitcoin now, why would I buy a centralised spaghetti coin?

[Anonymous No.53280333]

>>53280298
>It is a centralized blockchain, proof of stake.
its not centralized because of Proof of Stake, its centralized because it has to elect a leader to make the next Block.
only Avalanche solved this problem with their Avalanche consensus where a block can be proposed at any time by any validator.
this means Avalanche can scale to millions of validators even tho its PoS while Ethereum is controlled by 7 entities that make and verify all the Blocks.

[Anonymous No.53280351]

>>53280298
>Dude. It is a centralized blockchain, proof of stake.

Dude. It's a centralized blockchain, 2 companies control 56.4% of block productions.

Let's try some critical thinking man.

[Anonymous No.53280369]

>>53280307
I agree dude. Why would institutions adopt a chain to use for the next 30+ years instead of build their own that would shit on the competition.

>>53280316
I think BTC, Monero, and LTC are the only true coins.

[Anonymous No.53280386]

>>53280351
You ever try to think of what that pie chart might look like in 10 years? I’m starting to think ETH might be a true black swan with this level of misplaced confidence.

[Anonymous No.53280416]

>>53280307
Avalanche Subnets are fully customizable, they can run any VM, they can build any rules into it they want, they can make it permissioned or permissionless and they can make private Subnets too.

>>53280369
>Why would institutions adopt a chain
They dont simply adopt a chain, they make their own VM and then run it as a Subnet.
you havent figured it out because you are clueless and dont know whats going on in the space or how anything works.

[Anonymous No.53280420]

>>53279889
Dunno
Everyone here is probably too new or too proud to admit they were part of the threads which talked about the future
People used to talk about how ETH would be accepted at grocery stores and gas stations, that there would be physical standing "banks" that you could walk in for service
All kinds of moonboy stories
At one point it felt real but as time went on and the entire eco system added more unnecessary layers to how everything works, I slowly lost hope in any real world use cases at all.
Right now it's no better than gambling on futures, there's no grounding or fundamentals, just full stop speculation.

[Anonymous No.53280423]

>>53280386
Dude that is a chart of BTC miners, and it has gotten more centralized every year.

Every boom and bust cycle miners go bankrupt and are acquired by the big ones, leading to huge centralization.

My guess is in 10 years it will be maybe 2 miners producing 85% of blocks

[Anonymous No.53280429]

nu/biz/ keeps being completely retarded when it comes to ETH.

[Anonymous No.53280441]

>>53280416
It doesn't matter what Avalanche is, the point is enterprises literally don't need this technology. They operate just fine as is and literally moving to a blockchain doesn't improve anything for any real world company.

You are too caught in the echo bubble to understand that blockchains only solve for a very limited amount of problems (digital scarcity, ownership rights, permissionless access, self-custody).

None of these things matter for corporations.

[Anonymous No.53280449]

>>53280429
ETH killed itself, it was centralized so they can crash it and make room for Avalanche, which is the superior system. Even the top Ethereum developers agree with that.

[Anonymous No.53280450]

>>53280416
It seems like you have a vested interested in Avalanche and your mind is made up. I guess MasterCard and Visa have no other option.

[Anonymous No.53280467]

>>53280441
>the point is enterprises literally don't need this technology.
actually wrong, enterprises want their own Subnets since 2014 or so. thats why the EEA was founded.
of course you dont know any of this because you are a clueless newfag.
>doesn't improve anything
Sub Second transaction, tamperproof, reduces costs, 100% guaranteed uptime, outsourcing etc.
and again of course you dont know any of this because you are a clueless newfag.

[Anonymous No.53280480]

>>53280429
no you don't understand it's going to fail and my rank 1500 shitcoin is going to replace it so i can get a 10000x and buy exclusive luxury goods

[Anonymous No.53280489]

>>53280450
>MasterCard
Avalanche works with Mastercard too and with many many others.
its simple, Subnets are the future. you can accept this and buy the bags so you make it next run or you remain a braindead Eth baggie that hopes they fix their shit when they already gave up on it in '18. your choice.

[Anonymous No.53280545]

>>53280480
You forgot to post the soijak

[Anonymous No.53280558]

>>53279965
Agreed. Anyone that was around for $300-500 gas fees knows that ETH is dead in the water. The network just can't deal with heavy traffic.

The body is still just decomposing

[Anonymous No.53280557]

>>53280467
>sub second transactions
Centralized data bases have been doing this for decades

>tamperproof
You can achieve same thing on centralized servers at a fraction of the cost

>100% uptime
Is this really a problem in 2023? lol. Issues are bandwidth and storage (and more importantly the cost) not uptime

>outsourcing
For what? their enterprise already works fine without a blockchain. They would actually have to increase staff to set up and run a subnet when they can just keep operating how they have been

I feel like you think corporations are just dying to implement blockchain. I have worked at and with many large corporations, literally none of them need a blockchain

[Anonymous No.53280563]

AI is going to make POW a net positive. Leading the way is bittensor TAO. An actual and only use for gpu farms that benefits society.

[Anonymous No.53280564]

>>53280467
You are so retarded it’s actually hard to believe. I hope you lose everything.

[Anonymous No.53280566]

>>53280489
Can Mastercard acquire AVAX the company?

[Anonymous No.53280572]

>>53280351
Those are mining pools dumbass, they don't have any authority over the miners who join them. A miner can leave a pool for another at anytime.

[Anonymous No.53280604]

>>53280557
>Centralized data bases have been doing this for decades
doing it decentralized is way better and cheaper.
>You can achieve same thing on centralized servers
nope, its a single point of failure.
>Is this really a problem in 2023?
yes
https://www.nbcnews.com/news/us-news/live-blog/faa-computer-outage-live-updates-flights-us-affected-rcna65248
>They would actually have to increase staff
nope, they can fire thousands of wagies and the Blockchain and Smart Contracts replace them.
cost reduction by 1000x.

>>53280564
actually made it because I know whats happening.
cope and seethe more cuck.
>>53280566
lmao no but they can launch as many Subnets as they want.

[Anonymous No.53280616]

>>53279889
>What the fuck is the point of it holding it as an asset?
to have inventory for gas usage, liquidity for marketmaking against stablecoins, and a monetary premium. people did dump it en masse though it was 1700 usd at the merge

[Anonymous No.53280626]

also lets compare ETH staking to Avalanche staking:

>ETH staking withdrawals will not be available right away
Avalanche withdrawals are available since Mainnet launch YEARS ago
>The current plan is to deploy the withdrawal functionality in a software update 6 mo - 1 year after the Merge.
essential stuff like this was never missing on Avalanche, this means you have to stake ETH for up to a year, maybe even longer while on Avalanche you can Stake for 2 weeks minimum or 1 year maximum or anything in between.
>The current projected income rate (for ETH) is around ~4% APY
Running an Avalanche Node has a proven 9% - 12% APY (paid in AVAX) since Mainnet Launch 2 years ago.
If you run a Node you get Staking rewards, % of your delegators rewards and Tokens from validating several Subnets. (The Golden Subnet Bullrun has not started yet).
>Also the withdrawal system will be implemented as a queue to limit the amount of ETH that can be withdrawn per day,
there is no queue on Avalanche, its instant, sub second, its finalized faster than you can press F5. thats all transactions or smart contract interactions on Avalanche, even when you go crosschain between X Chain and P chain and C chain and other Subnets its instant. Sub Second finality.
>Transactions take 14+ Minutes until they are finalized
I repeat: on Avalanche transactions are almost instant.
>Ethereum has Slashing which means you can lose your stake due to a Hardware or Software bug
No such thing as Slashing on Avalanche.

[Anonymous No.53280654]

>>53280604
I’m legitimately asking you why AVAX or its owners are not able to transfer ownership of the project. Or how Mastercard is prevented from basically copy pasting and poaching all of their devs.

[Anonymous No.53280686]

>>53280616
I suppose those are the reasons rational people why speculate on it. But it has a 200 billion dollar market cap! Where is the upside?

[Anonymous No.53280692]

>>53279942
>>53279965
>>53279975
>>53280030
You're such a fruit.

[Anonymous No.53280716]

>>53280692
What’s good my dude

[Anonymous No.53280719]

>>53280654
its like asking why isnt mastercard bulding their own cloud provider, why are they using AWS or whatever instead, why dont they build their own internet?
thats how stupid your question is.

[Anonymous No.53280783]

>>53280719
Damn once again I’m the big dummy outplayed by the big brain. Just for reference MasterCard has a $361 Billion dollar market cap. All the AVAX in the world is about 5 billion dollars… I just wanted to confirm with you that it would be impossible for AVAX to be acquired. Right?

[Anonymous No.53280810]

>>53280783
damn nigger you are stupid af.
as soon as they start buying that wouldnt be 5 billion dollars anymore, more like 500+ billion because why should I sell them when these retards will give me all their money for it?
I could sell them the tokens for 10000 a pop or more.

[Anonymous No.53280818]

>>53280604
The “subnet” that matters is what your dom uses to catch your 5’1 ass

[Anonymous No.53280820]

>>53280351
>2 companies control
wrong. miners are decentralized, only conntected via Ethernet to the mentioned 2 pools. can switch every second.

[Anonymous No.53280836]

>>53280626
Literal shill completely pathetic
Too bad no one uses blockchains for anything real

[Anonymous No.53280842]

>>53280810
Yeah… that’s what they would do. They would purchase all of the tokens on the free market. They wouldn’t purchase the technology itself and the dev team and spin it off to something else. No, MasterCard wants to purchase your tokens with a market buy order because you deserve money.

[Anonymous No.53280850]

>>53280810
Legit you should be put down for your stupidity

[Anonymous No.53280856]

Bet your money on ETH Classic

[Anonymous No.53281132]

>>53280836
>Too bad no one uses blockchains for anything real
Thats because Blockchains before Avalanche Subnets couldnt scale. also the plan to put everything on one single chain was always set up for failure.
>>53280850
lmao what a seething cuck
>>53280842
>They wouldn’t purchase the technology itself and the dev team
because that would be also retarded, Mastercard doesnt want to bother with the underlying Technology like the consensus protocol, the warp messaging and running ALL of the validators and maintaining and developing the Avalanchego software, they only want to focus on their own usecase as a payment provider, so they will build their Virtual Machine and run it on Avalanche and get way more out of it.

also I doubt they would be able to buy the Developers from Ava Labs, their plan is to tokenize all the Assets in the world and thats worth many trillions of dollars, Mastercard is unironically smaller than Ava Labs.

[Anonymous No.53281272]

>>53280572
And ETH pools literally work the same way. I was making a satirical comment but I guess bitcoiners are too dense.

[Anonymous No.53281291]

>>53279917
More than hundreds of millions…it’s already been 1.5 billion

[Anonymous No.53281373]

>hold and stake a net 0% inflation coin
Versus
>miners dumping inflationary coin and 0 benefit to holding
Wow I just don't know it's an epic mystery. How are there still so many fucking retards on this board this far into a bear market?

[Anonymous No.53281448]

Why are ETH schizos the same as XRP schizos?

[Anonymous No.53281498]

they can't dump it because this shitcoin doesn't even have a basic unstake feature

[Anonymous No.53282323]

PoS doesn't mean centralized, moron.

[Anonymous No.53282344]

>>53280429
ETH haters have been unhinged for years.

[Anonymous No.53283285]

>>53279889
>Please explain to me why visa or Mastercard couldn’t create a better centralized system for transactions.

Their innovation is too slow coupled with slow transactions. This made me opt for a HOLD visa debit card for my online payments because its processing time is faster and can be used for crypto payments.

[Anonymous No.53283324]

>>53281448
The Officer Banfield audiobook is fucking hilarious if anyone needs a laugh. This dude is mental.

[Anonymous No.53283365]

>>53279889
what dapps can visa run?

[Anonymous No.53283406]

>>53282323
PoS = piece of shit

[Anonymous No.53283408]

>>53280298
>acquire a blockchain
what? like they're gonna buy enough to control the whole thing? what the hell would be the point of that? then everyone got out before it all comes crashing down and no ones gonna buy it back from them because it'd be worthless literally just a waste of money

[Anonymous No.53283429]

>>53280298
>Do you understand that Visa could one day own Ethereum?

Assuming that somehow happened ehich makes no sense wouldn't that make us rich?

[Anonymous No.53283489]

>>53280307
To be fair "the cloud" which is more or less just server hosting was sold to corporations for 10 years and they fully embraced it, I never underestimate mangamanet's ability to fall for marketing and throw support behind something they don't need.

[Anonymous No.53283710]

I'm sorry but you're retarded. Visa and Mastercard CAN make better centralized systems. What they cannot make is a better decentralized system.

[Anonymous No.53283711]

>>53279889
>in mass
anon....

[Anonymous No.53284969]

>>53279946
Everything around it you mean. ETH is good and I have a LP paired with ORE.

[Anonymous No.53284975]

>>53279889
>POS
Yeah its called "piece of shit"

[Anonymous No.53284997]

>>53279942
>tech in crypto
kek

[Anonymous No.53285005]

>>53279889
Visa and Mastercard have partnerships with lots cryptos. I'm guessing they are hedging their bets.

[Anonymous No.53285013]

Eth is just a settlement layer.

[Anonymous No.53285024]

>>53280030
Eth has never been decentralized, the ICO was dodgy as fuck. I suspect a few people hold most of the coins. But as you could buy ETH at the start with only an email address ( whales can use multiple emails) no one will ever know.
Even Lubin said eth is decentralized... enough.

[Anonymous No.53285027]

>>53279965
We have faith in the technology, web 3.0 and the connections made by eth but Solana is better at it BUT Solana is sinking.
Thank God i only have 5 ETH

[Anonymous No.53285223]

>>53285027
Web3 is the future.
>>ORE, LINK

[Anonymous No.53286669]

>>53279889
eth will go to 10k before it collapses but people that held it so long wont realize and they will hold into loss

[Anonymous No.53286916]

>>53286669
I was always going to sell at 9k so this is fine

[Anonymous No.53288099]

Eth is dead and gay

[Anonymous No.53289288]

>>53279889
ETH is only getting richer...they fucking own the whole NFT space. Now there are even have privacy SDKs that can be easily integrated into their platforms, its sickening.