/biz/ - Business & Finance

>>9126668
No shit it's overrated, take advantage of it and exploit greater fools.

>>9126668
It is, and I work in crypto. The universe is full of scammers snake oil salesman, the OG bitcoin ppl are either selling OTC or holding but realizing it became bullshit and was overtaken by greed. Bitcoin fundamentals were better 2 years ago, the price just comes from speculation, thats why I wouldn't be surprised bitcoin crashes back to 2k once the hype dies, and it is dying

>>9126668
it's like a database but without a server at expense of being slower and more expensive to use
though I think regular databases are better, because you can hold the securing party responsible in court meanwhile if blockchain "shits itself" (through for example 51% attack) you have no recourse, and database performance advantage is enormous

>>9126704
nonono i was asking for shilling not fudding you are doing the opposite of what i asked

please someone tell me where all this money coming from and who pays for all my gains

>>9126711
I couldnt care less about bitcoin itself but the mass adoption and all this blockchains popping everywhere makes me nervous

there must be an ultimate reason behind the success of all these....there must be a need if its this popular and expensive

>>9126711
>Bitcoin fundamentals were better 2 years ago

>>9126899
I liked bitcoin when they were still underground.

>>9126724
>please someone tell me where all this money coming from and who pays for all my gains
I already told you, they're coming from greater fools thinking token prices will go higher than your exit price.

Quit being such a baby and accept this, exploit this, pass your bags to the other idiot, and make some money.

>>9126668
>im attacked by bad thoughts that blockchain is overrated
Those are not bad thoughts. It's the truth.

>>9126668
I'm sorry mate but there's no escape from the truth. I also had difficulty accepting that this is all vaporware but the reality sets in and eventually you have to accept that. It'll be remembered as the biggest scam in history in a few decades.

Ofc its fucking overrated and big bubble but we can still make money

Blockchain is useless dogshit, we all know and accept it. We're just waiting for retards to come in and pump our bags so we can dump and not have to work lnao.

blockchain works great, with bigger blocks, as proven by the fully functional bitcoin cash chain

>>9127329
> We're just waiting for retards to come in and pump our bags
didn't that already happen though

>>9126668
there are some things you can't do without a blockchain/smart contracts. for example if i want to gamble and don't trust casino sites to have fair odds, I can check the smart contract to be 100% certain what the odds are. there's nothing else that can give you that guarantee. I don't know if there are enough situations like that to justify huge market caps, but it's definitely possible that there are enough cost savings to make it worth it

>>9127469
yeah the everyday retard cant read it anyway so its not as transparent but maybe someday somebody will be able to do convert these things into packs that you wont have to trust and you can just check these packs if they are present which contains theese smart rules that would be easier

>>9126899
prove me wrong.
Now we have scaling issues, altcoins taking btc dominance, Bitcoin cash ( legitimate competitor to btc), LN feels like a mirage and we're not even sure it will work/ work as expected. Divided community, miners don't agree with devs, devs quitting bitcoin core and all that drama and most importantly users that don't use bitcoin because they HODL LOLOLOLO HODL like fucking retards and don't care if fees are 100 bucks as long as their imaginary currency goes up in value.

Its bullshit

>>9126668
Imo, ignore the underlying data structure.

Whats interesting is decentralization and how more cost effective, fair and transparent applications can be built on this infrastructure of tomorrow.

>>9126724
Literally whales and bots

>>9127812
no matter how far technology progresses in making things accessible, the everyday retard will always need a trusted source to validate whatever he's using
the strength of blockchain guarantees lies in convincing the builders (developers or smart influencers), who then convince the masses

>>9128530
Following up. Today you have to do significant trade-offs when using decentralized applications.
Ie. you trade performance for trustlessness. But in the future, when scaling has been solved, there is no longer a reason for not using blockchain and running your application in a decentralized environment.

Why not include transparency, fairness and trustlessness in your application if you can do it with little to no performance loss?

so, a blockchain is like this thing that does what we need it to in a neat way and is useful for businesses and government and stuff, and also you can make money off of speculating blockchain-related stuff right now but it's risky
go with god, op

>>9128580
So can this answer justify the prices?No wonder the money skel thought it would never go over a few dollars....

>>9128596
leave the godshit out of this if god would be here id cleave it in two for letting us suffer....and i dont care how it looks that we did this an omnipotent being can for sure figure out how to solve every problems therefore that being is a shithead and deserves to be stripped from power

>>9128762
Given that if for example Ethereum becomes be the platform that enables the next generation applications of tomorrow, then yes - its very underpriced.

But this is speculation. Bitcoin however is another thing, as it has no other utility than being the most widespread and well-known crypto. You can buy stuff with it and thats about it. But thats nice if a lot of people wants to buy stuff. Or if enough people are trying to speculate (the greater fool principle).