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8857037 No.8857037 [Reply] [Original]

...I can say that crypto is a failed experiment

Why, you ask?

Well, its all about trustlessness, but in this short timeframe of 1 year of popularity, it is already devolving into a mass of centralised messes.

Bitmain directly and indirectly control 51% of the bitcoin network via direct mining or ownership of mining pools or investment in mining pools. Fail.

EOS, one of the most popular cryptocurrency projects with the largest ICO, is a centralised mess with 20 nodes all connected to the founders. Fail.

Vechain, the most shilled coin in existence right now, are direct proponents of centralisation, and confess that they will adjust things like generation rate of gas at will. They have also admitted to giving out free coins to corporations. Fail.

Ethereum, still decentralised but unscalable and with ETH asics coming out it will not decentralised be for much longer. Fail.

Ripple. Fail.

Neo. The blockchain has been down 4 times now. Centralised fucking fail of epic proportions.

Most others are scamcoins. This whole thing is a mess of bullshit.

As I'm writing this, and I didn't even intend to mention it, there is one project which addresses all of this. It is a perfect design, and if realised will revolutionise cryptocurrency. Matrix AI Network with their random clustering algorithm which combines EOS with Ethereum in that its centralised but only for 10 minutes at a time, hence a different 'centre' every 10 minutes.

Aside from this, tokens and coins in general are bullshit and are probably a meme. No company wants your fucking tokens, they will use a consortium chain developed in house or by IBM or by some other smaller blockchain startup.They will connect with eachother and be trustless amongst eachother. Boomers are not going to make fucking making retarded NEETs rich out of their minds unnecessarily.

Prove me wrong.

>> No.8857048

>>8857037

stuff goes up and down

>> No.8857070

>>8857048
This isn't a money thing, my portfolio is actually very up since december.

>> No.8857096

>>8857037
FUD monero

>> No.8857153

>>8857096
Monero will always have a place, even though I never have or will buy it.

>> No.8857354

>>8857037
>Ethereum, still decentralised but unscalable and with ETH asics coming out it will not decentralised be for much longer. Fail.

It will literally scale to thousands tx/s this year, and with staking you wont need PoW/miners at all.

>> No.8857436

Imagine being this shortsighted and not realizing that decentralization will take years. What, you want millions of people to instantly run nodes and such before there are genuine use cases?