[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance


View post   

File: 1.07 MB, 1600x1067, oracleproblem.jpg [View same] [iqdb] [saucenao] [google]
15786432 No.15786432 [Reply] [Original]

So let's say it's 2030 and I want to buy a house. The title for the house is held on a blockchain and is governed by smart contract, so as soon as I deposit $700,000 into the smart contract the title will transfer to me. I have $500,000 so for the remaining money I take a loan from a smart contract lending pool. People from all over the world have put money in this pool with different terms and different rates of interest, I choose some terms I like and take the loan from the pool.
When the smart contract executes and I now own the house, my Stamp Duty/national tax obligations are automatically paid out as part of the smart contract terms.

So in this scenario we have: No real estate agent required to oversee the trade as it will be performed by smart contract. No bank required to oversee the loan as I will be drawing from a decentralised lending pool. No conveyancing lawyer required to manage the deed transfer as the full property description will be recorded and transferred on the blockchain. No accountant required to manage the tax requirements as they will be encoded into the property transfer smart contract and automatically dispensed.

So my question is this: What the fuck are people going to do for work when all of these jobs disappear?

>> No.15786437

die

>> No.15786447

Get hired by the government to press the buttons for you

>> No.15786453

>>15786432
>What the fuck are people going to do for work when all of these jobs disappear?
node operator

>> No.15786455

>>15786432
Hopefully they will fuck off

>> No.15786456

Become truck drivers and wait tables

>> No.15786465

>>15786432
learn to code?

>> No.15786467

>>15786432
Pretty far off scenario. At least in the US basically all those jobs are protected by regulations so people don’t accidentally fuck themselves.

So you’re dealing with a few things:

1) General sentiment around removing jobs
2) Local and state and national regulations
3) The slow movement of government in regards to change

Think about the fact that the Internet has now been around for the public for ~30 years and we are still decades away from proper legislation. In fact, it’s likely we’ll never catch up because tech moves too fast for the government. So the result is a lot of state regulated shit (like Uber being allowed or not).

My point being, by the time this scenario is even close to an “allowed” reality, we will be in a much different societal situation. It’s possible those jobs will already have been largely replaced by services, or that we have taken proper measurements to ensure people are protected/taken care of as the automation era dawns upon us.

>> No.15786473

link is going to zero, sorry bud

>> No.15786558
File: 142 KB, 725x527, 1568239951716.jpg [View same] [iqdb] [saucenao] [google]
15786558

>>15786432
>>chainlink meme photo
>>imaginary ranks
>>just keep buying bro, just keep buying
>>no matter what don't stop buying
>>HODL the imaginary line bros
>>bitch boy captain, general, whatever makes it seem like we're tough internet boys and not retarded faggots getting gagged, hooded and branded by our master sirgay
>>implying any of these memes are fucking organic
>>2017 hype, convinces other anons since this fat fuck browses here, uses the money to make meme artists and pay oracle and google to blogpost and waste their time
>>stuck in the water with a useless ERC721 protocol despite the fact ERC20 worked better
>>fud the shit out of other tokens and strangle organic growth. why? because im a fat faggot with a philosophy degree and dont understand tech but know how to be a cut-throat ruskie
>>shelled out, dried out assholes running a literal fucking scam
>>SEC GET ON IT

>> No.15786569

>>15786558
holy shit is this worthy hahaha

>> No.15786620

>>15786432
More minimum wage jobs

>> No.15786633
File: 609 KB, 640x621, 1515330976785.png [View same] [iqdb] [saucenao] [google]
15786633

>>15786558
>no organic memes
Fuck off

>> No.15786636

>>15786432
>What the fuck are people going to do for work when all of these jobs disappear?
You buy Chainlink

No but on a serious note. It probably a mixture of government UBI and Facebook et al. paying Libra for your attention

>> No.15786649

>>15786467
In 30 years automated driving will put tens of millions of people out of jobs thanks to uber and tesla.

>> No.15786701

Unconditional basic income for everyone. Just enough to survive. Then you can do what ever the fuck you want if you need more cash.

Run a small shop or a cafe, craft some shit and sell it online, do what you actually like and try to monetize it somehow. Or just re-educate yourself to a job that won't be automated. Probably 90% percent of jobs could already be automated this day, we're just clinging on to the ancient concept of wage-slavery. Automation is so cost effectice that I think it's only a matter of time until it spreads to every field through and through.

>> No.15786715 [DELETED] 

>>15786432
>>15786633
>>15786636

reminder that LINK is NOTHING like ETH.

1. ETH had a testnet with thousands of users and finished mainnet 1 year after ICO, and only raised 16mil. Chainlink had a testnet and mainnet with ZERO users after 2 years and 32mil. It has gained ZERO adoption (the partnerships aren't using it). The level of developer adoption and excitement for ETH vs LINK is absolutely incomparable, LINK has none.

2. The Ethereum tech was actually innovative. It was the first successful attempt at a smart contract platform. It was decentralized and working one year after ICO. Chainlink only has centralized oracles (Sergey is lying about decentralization) which are not new or innovative. Their "innovative" solution to sybil resistant consensus is KYC.

3. The Ethereum foundation only had 1% of the Ethereum supply after ICO. The Chainlink team has 65%. Also when Ethereum was $1, it had a market cap of less than $100,000,000. It was actually a low market cap gem. Chainlink's real marketcap (if you count the 650,000,000 tokens in Sergey's wallet, ready to sell) is currently $2,000,000,000, which makes it an incredibly overpriced top 10 coin, not a low market cap gem like Ethereum was at the time.

4. Chainlink has already had mainstream exposure. It's made the front page of crypto subreddits countless times, was covered in forbes and every news outlet imaginable. Yet, even after all this attention, it has failed to get any developer adoption. It is fair to say that every single dev in the space knows about Chainlink, and decides not to use it. There are many projects running oracles in production, none of them choose to use Chainlink.

>> No.15786734

>>15786715
reminder that your best parts ran down the inside of your mums legs

>> No.15786740

>>15786473

This lol dumbfucks. It’s a digital native technology and there can only be one

>> No.15786745

>>15786432
This is exactly why we need universal basic income through the blockchain. We’re going to end up with a lot of useless people after we become a post scarcity society.

>> No.15786778

>>15786715
There was no pre-mainnet ETH.

>> No.15786805
File: 965 KB, 1724x1000, 1509417985341.jpg [View same] [iqdb] [saucenao] [google]
15786805

>>15786715
>Resorting to lies to fud chainlink.

You had 2 years.

>> No.15786815

>>15786432
I am so sexually attracted to ugly Asian matures just like the milf in the picture.
Be investing in projects that has ugly Asian matures but it is costing me a lot of money and I am not getting laid.

>> No.15786970 [DELETED] 

>>15786778
kek yes there was a testnet retard
>>15786805
>t. desperate linker pretending he's not mad he didn't sell at $4.5 because he's starting to realize all the partnerships were fake

>> No.15786997

>one post by OP
>Retarded Question
>17 retards reply
Anons.. I..

>> No.15787045
File: 242 KB, 1574x1562, 1554496720610.jpg [View same] [iqdb] [saucenao] [google]
15787045

Imagine thinking that technology taking people out of certain jobs and putting them in new ones isn't a natural progression of society. Before Xerox you literally had to pay fifty women to crank out fifty copies of whatever with personalized names and shit. Before automated switching for phones people did that shit manually. Before smart contracts you had a bunch of fuckwits doing basic shit, charging a fortune for it, and taking their sweet arse time to do it.
Case in point a relative passed and I have to deal with the lawyer, the insurance company, and a host of others. There is no transparency you're treated like shit and told it will take time etc. And these people are just processing things from one office to another to make sure that due diligence is carried out because humans make mistakes. Smart contracts will send all of these 'people' to Macdonald's.