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55317648 No.55317648 [Reply] [Original]

The SEC is doing the right thing by going after crypto. It's been 14 years and the best thing we have is pictures of monkeys and influencer scams. No legitimate business needs to use a public blockchain for anything.

>> No.55317691
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55317691

>>55317648
>t. seething jew

>> No.55317757

>>55317648
I actually agree and I've been here since 2017. It's 99% pump and dump scams.

>>55317691
Price action doesn't mean it has any utility.

>> No.55317776

>>55317648
Tel Aviv hours

>> No.55317869

>>55317648
It's not that the technology is worthless. It's that it's stupidly expensive and inefficient to use. Gas fees for Ethereum range from $30-$100,000 for a transaction. Other blockchains are cheaper but at the expense of security.

The technolog would be useful if it were basically free like everything else on the internet.

For it to be cheap and decentralized it would need to incorporate peer to peer, which makes it expensive and worthless for most people because they won't pay to host things on the internet when big tech giants do it for free.

Public blockchains can only be useful when they facilitate a peer-to-peer environment in which people are getting paid to host and paying at the same time.

The profitability of big tech giants means that this is ultimately possible. The profits they make from hosting the stuff people upload are greater than their expenses hosting it.

Blockchain and peer to peer mean this profit could be theoretically distributed to people instead of big tech monopolies if the internet were properly decentralized.

Whether it's possible in practice is another question. Nobody seems to be working on such a project. ICP is a scam.

>> No.55318015

How do people who claim to be here since 2017 have absolutely zero idea of what goes on in the space?

No utility besides memes you see on news and late night shows? Really? This must be a troll post.

>> No.55318044

>>55317869
Just use a centralized database

>>55318015
No real utility, only paid partnerships

>> No.55318049

>>55317869
Ahem. Allow me to introduce:
https://pawecosystem.com/

>> No.55318183

Blockchain software has use but we are in an economic environment were 70% of the western is financially starved and desperate, thus gambling and scamming with the promise of wealth is the 1# money maker at the moment.

> It's not that the technology is worthless. It's that it's stupidly expensive and inefficient to use.

You have no idea what you are talking about. It's only expensive because it's programmed to have a tax and fee.

If you knew anything about computer programming at all, you would know that blockchain software has no value beyond the idea of blocks of data being in supply and demand.

> the tech

it's software. Bitcoin is software.

>> No.55318234

>>55318044
Ignorant.

>> No.55318314

Bitcoin's only legitimate use is as a form of P2P payment for ordinary people living under heavy dictatorship and/or sanctions, but I doubt that's even as much as 1% of all transactions on the blockchain. Everything else, including the rest of the crypto space, is just black-market crime, money laundering, high-risk speculation, and pyramid schemes.

>> No.55318407

>>55318183
>it's software. Bitcoin is software.

Software is technology you autistic fucking retard

>> No.55318451

>>55318314
This. The boomer billionaire takes were right

>> No.55318584
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55318584

>>55318314

sadly, this is much of the case

>> No.55318646

>>55318451
I mean fuck billionaires and their tax havens, but the disingenuous whitewashing of Bitcoin/crypto by first-world (white) hucksters as a form of emancipatory capitalism for the global south is despicably cynical and gross

>> No.55318725
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55318725

>>55317648
I wish this was all wrong, I truly wish this was all a joke and nothing more than that but then again I was hoping Marlin to actually improve how web3 works, and I'm still waiting, without knowing if it'll work someday

>> No.55318743

>>55318725
jokes on you for putting your hopes into something like that kek

>> No.55318752

>>55318451
Well it makes sense if you think about how they got so rich

>> No.55318760

>>55318725
fucking idiot you shouldn't have believed that

>> No.55318782

>>55318725
Nah I only wish this garbage die and goes to 0

>> No.55320294

Gary Gensler is a hero

>> No.55320317

Yes, the goyim need to sell their crypto this instant and buy gold or property instead

>> No.55320319

>>55317648
I interviewed for a company in LA that moves money overseas. They do it faster than the banks and cheaper. Their entire backend is bitcoin then local cash exchange

>> No.55320378
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55320378

>>55318725
uuunder the seeaaa

>> No.55321994

>>55317648
Wait for the UK and China to steal the show before the SEC realize the future left them behind. UAE is ready for crypto so do not think the US decides everything.
Regulations will roll out and all will be fine. NexeraID is also ready to be used for compliance.

>> No.55322025

>>55318314
>is just black-market crime, money laundering

Both are extremely valuable

>> No.55322031

>>55317648
can’t wait for them to sue chainlink

>> No.55322038

>>55318015
name one

>> No.55323754

>THIS THREAD IS NOT FUD
>THIS THREAD IS NOT FUD
>THIS THREAD IS NOT FUD
>THIS THREAD IS NOT FUD
>THIS THREAD IS NOT FUD
>THIS THREAD IS NOT FUD
>THIS THREAD IS NOT FUD

>> No.55323789

>>55317648
a public blockchain might actually make a cool bike lock mechanism in the digital sphere mister you just keep your tongue

>> No.55323793

>>55317648
Implying other global corpos are legitimate

>> No.55325982

>>55317648
if you don't close your shorts the market will close them for you :^)

>> No.55326824

>>55318015
I couldn't help but be amused by what that guy said, kek. He's probably just salty because he took a bad trade and lost everything, so he's lashing out.
Meanwhile, I've seen crypto stepping into the real world, actually solving real-life issues. Take Holoride, for example, they built a VR tech that doesn't make you puke your guts out. But yeah, this dude has the audacity to say there are no fucking utilities.

>> No.55326846

>>55317648
if SBF is walking then CZ is teflon. the legal system is fair after all

>> No.55326869

>>55326846
SBF likely had charges dropped in exchange for snitching on CZ to the DOJ

>> No.55327314

>>55326824
>VR tech
Blockchain not needed