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/biz/ - Business & Finance

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8852547 No.8852547 [Reply] [Original]

Hey boys... My friend was explaining crypto to me and said I should ask this here because he couldn't answer soooo... Why not just have one cryptocoin for everything? It seems really complicated how it is now.

>> No.8852573

competition breeds excellence.

>> No.8852574
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8852574

Other coins like silver and copper to BTCs gold

>> No.8852594

>>8852547
>why have coins and bills when you could just use the pennys for everything

>> No.8852609

>>8852594
>different denominations are different currencies
The absolute state of /biz/.

>> No.8852633

>>8852574
Eh that's not really true. Crypto is supposed to be first and foremost a currency. Not a commodity or security. Pick one. It certainly isn't gold and never will be. We haven't used those as a currency in a long time for a reason.

>> No.8852639

>>8852573
Fpbp, the thread should've ended here

>> No.8852654

>>8852547
What do you mean "have one cryptocoin for everything"

What the fuck does everything entail? What the fuck does that even mean? Your question is so dumb and your friend sounds retarded if he didn't straight up tell you it was a dumb question.

>> No.8852750

>>8852639
Except it's wrong, retard. You can't just print more wealth.

>> No.8852767

>>8852609
>why have usd and gbp when you could just pay usd for everything

>> No.8852768

>>8852654
Seem to me it means one actual currency. Which we still don't have, but this is the ultimate goal all these projects are competing to achieve.

>> No.8852770

>>8852750
>being this retarded

>> No.8852787
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8852787

>>8852750

>> No.8852794

>>8852767
These are backed by their nations' wealth. They aren't multiple currencies representing the same cache of wealth. If you double the currency supply without doubling the wealth, you have just cut your currency in half. Did you forget we're talking about a global, decentralized currency that inly derives value from people moving their state issued currencies into it? It only has representational value when people put real representations of wealth into it.

>> No.8852798

Not every crypto is meant to be a currency. Coins like ETH, VEN or LINK are needed to use their network(basically to pay the nodes running the network). VeChain's network can be used for supply chains, ETH for smart contracts and LINK to get data from real world and feed it into a smart contract.

>> No.8852802

>>8852547
>Hey boys
pls open bob & vagene

>> No.8852808

>>8852770
>>8852787
>implying you can magically print more money
Understand >>8852794 or stay poor.

>> No.8852838

>>8852808
We're not talking about increasing the supply of one crypto you total fucking abortion, we're talking about having more than one that have different functions in an economy. Jesus Christ you're retarded

>> No.8852842
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8852842

>>8852808

>> No.8852849

>>8852838
>we're not talking about increasing the supply of crypto
>we're talking about multiplying the number of crypto coins
Really padded my portfolio.

>> No.8852859

>>8852794
Well in that case, no one knows what the ideal digital currency is so people are just going to keep making different ones to get free money and lure in ppl who want a moonshot. For a currency, ideally the ones with the lowest tx fee and shortest tx time are the best, and highest rate of adoption. Bitcoin really shot itself in the foot over the last year or so.

>> No.8852865

I cannot fathom how brain dead OP is with this female larp

>> No.8852867

This guy fucks >>8852859

>> No.8852871

>>8852849
>rewording my post to make yourself seem less of a retard
Literally kill yourself

>> No.8852899

>>8852871
>rewording
You just claimed creating additional currencies is different than increasing the overall supply of crypto without increasing the wealth backing it. Go ahead and thonk before you type if you are failing to get your point across. Tell me how the wealth magically increases each time a new crypto coin is created? I'll wait.

>> No.8852905
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8852905

Soon

>> No.8852919

>>8852547
because there'd be less liquidity

>> No.8852923

>>8852547

Ark is literally one crypto coin for everything. But brainlets havent caught on yet.

>> No.8852934

Face it. You have no clue what is going on. You're gambling your tendies money and you're losing. You're going to be a poor virgin until the day you die. This board is so consistently amusing.

>> No.8852956

>>8852919
Holy shit did you really just say that? Why would you need to "cash out" of a currency that you can purchase anything with directly? Currency is by definition liquid. I can't even believe how hilarious this site is.

>> No.8852957

>>8852899
No I didn't you fucking faggot. Read my post again. I said
>We're not talking about increasing the supply of ONE crypto you total fucking abortion.
>ONE
Which you conveniently omitted when you replied to me. I wasn't talking about the 'overall supply of crypto' because I used the word ONE, which you know I did because you omitted it when replying, you disingenuous faggot.

>> No.8852965

>>8852957
You're hopelessly retarded and need to catch up before I talk to you anymore.

>>8852919
Just think about it for a second. When people liquidate an asset, what are they liquidating it to? A currency. If it's already a currency, you don't need to liquidate. If anything, it would become easier to exchange with national cirrencies if that's what you mean.

>> No.8852979

>>8852965
You just got BTFO and got called out for being a disingenuous faggot and can't reply apart from "hurr". Kill yourself

>> No.8852987

>>8852838
>We're not talking about increasing the supply of one crypto you total fucking abortion
>we're talking about having more than one
Yeah that literally increases the total supply of crypto. What's difficult about this? Figure it out and get back to me.

>> No.8852997

>>8852979
Wrong. See >>8852987 and prove me wrong. You can't.

>> No.8852998

>>8852987
>all crypto is the same
>inflating the dollar also inflates the pound
Why haven't you killed yourself yet?

>> No.8853007

>>8852998
*yawn* can you please catch up? See >>8852794
If you guys need to slow down and think hard about this stuff, take all the time you need.

>> No.8853018

>>8852798
Exactly. That's why they don't need a token of value. That's why every corporate DLT doesn't bother using an unnecessary token and pretending the tech requires a currency to run. Face it, crypto is now your religion and you can't see it for what it is.

>> No.8853033

>>8853007
THAT JUST PROVES MY POINT YOU FUCKING NIGGER! IF THERE WAS ONLY ONE CRYPTO THEN YOUD BE RIGHT, BUT THERE ISN'T SO YOU'RE WRONG! HOLY SHIT YOU'RE MAKING ME ANGRY!

>> No.8853037

>>8852794
>If you double the currency supply without doubling the wealth, you have just cut your currency's value in half
Fixt for you brainlets who already atruggle with reading comp. Why is this difficult to understand for you guys? Anybody ITT over 18 besides me?

>> No.8853045

>>8853033
lmao I can barely type you are trolling you cunt.

>> No.8853106
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8853106

>>8853033
>only one global market cap
>each additional currency theoretically devalues the existing currencies
>new wealth must enter the global crypto market or existing currencies are devalued
Seems pretty straightforward to me.

>> No.8853113

>>8853106
I'm laughing so hard. I need to learn to explain more simply

>> No.8853138

>>8853106
>implying fiat doesn't also have a global market cap
>"theoretically"
>implying this guy>>8853113 isn't a fucking loooooser

>> No.8853219

>>8853138
If you created a new fiat currency you would have to move the wealth backing abother fiat currency into your new currency. This, devaluing the existing fiat currency.
Unless you just happen to have the wealth to begin (land full of oil or something) with which isn't the case for crypto so it's irrelevant.

>> No.8853226

>>8853138
>>8853219
Alternatively, you're new currency would need to be backed by an existing currency which represents wealth. Which is why so many are backed by USD.