/biz/ - Business & Finance

[Anonymous No.15486958]

Get a load of this Ethercuck delusion kek

[Anonymous No.15487020]

sÓyboys rise up

[Anonymous No.15487123]

>>15486958
Every PoW coin is worthless, a zero-sum game, with no connection at all between price and utility demand, only hype matters. All individual profits can only come from losses of other people. This also applies to ether in its PoW phase.

Eth flips bitcoin soon after it goes full PoS. It can't happen differently. Staking means users pay validators and the income rises as utility demand grows, hype or not.

[Anonymous No.15487149]

>>15487123
PoW was invented to fix the shortcomings of PoS. PoW works in that it has not yet been defeated; PoS is unproven tech.
If PoS can deliver the promises there is nothing stopping Bitcoin from adopting it.

[Anonymous No.15487177]

>>15487149
>PoW was invented to fix the shortcomings of PoS
what the fuck?
The idea of PoS came years after PoW, and it's only in 2019 that well-designed protocols started appearing. It's a much more complex design than PoW, but it's better in literally everything.
>If PoS can deliver the promises there is nothing stopping Bitcoin from adopting it.
you're seriously delusional if you think that's ever going to happen.

[Anonymous No.15487223]

>>15487123
Proof of Stake is a scam shilled by coin devs and bagholders to create artificial demand by deceiving newfags and normies into thinking they can get some kind of passive income from their worthless premined shitcoin.

[Anonymous No.15487231]

>>15487223
The income comes from demand for the platform, if there's no demand there's no real income, it's as simple as that.

[Anonymous No.15487261]

When ETH flips btc there will be so many Wojacks you’ll see it from space.

[Anonymous No.15487308]

>>15487177
You know very little and understand little of which you speak about; you would be wise to hush up for a long time.
B-money used a primitive version of Proof of Stake; Nick Szabo's Bitgold used Proof of Work; Bitcoin then put the Proof of Work into a persistent chain.

[Anonymous No.15487318]

>>15487308
Proof of Stake isn't better than Proof of Work at this point in time: it does not scale and secure the way Proof of Work does.
That may change, or it may not change.

[Anonymous No.15487359]

>>15487223
That's the primary use-case of Proof of Stake currently: Selling unicorn farts to retards

[Anonymous No.15487429]

>>15487223
You sound physically angry and very emotional. Show me on the doll where Ether hurt you

[Anonymous No.15487449]

>>15487318
what do you think of bitcoin-ng

[Anonymous No.15487491]

>>15487308
>B-money used a primitive version of Proof of Stake
no it didn't, it was a typical PoA arrangement, like Libra.

[Anonymous No.15487504]

>>15487429
I'm angry at Ethereum people who have turned this space into a complete joke with their ICO token printing platform and continue to peddle their leftist cuck coin all over the place. They are by and large dishonest frauds.

[Anonymous No.15487549]

>>15487504
Bitcoin had its own ico boom in 2013 and 2014. Google neo&bee.
They collected 12k BTC and the ceo spent most of it on sport cars.
https://www.youtube.com/watch?v=hJXjqyUOIQA - they even had tv ads
https://www.youtube.com/watch?v=SFmiDBLQA1o

[Anonymous No.15487566]

>>15487491
https://bitcoinmagazine.com/articles/genesis-files-if-bitcoin-had-first-draft-wei-dais-b-money-was-it

[Anonymous No.15487586]

>>15487566
just because you quoted something wrong doesn't make it right. Proof of stake is a consensus algorithm. His proposal relied on nodes with known identities and on external enforcement. It's PoA, not PoS.

[Anonymous No.15487633]

>>15487566
ok, a simple definition without getting into details:
In PoA, the fundamental consensus unit is a node with known identity. To join you need to make your identity public and engage in some sort of social-political process.
In PoS, it's stake. To join you need to obtain enough stake, in whatever form.
Yes, that makes "DPoS" a variant of PoA, only with elected nodes.

[Anonymous No.15487643]

>>15487633
It evolved out of B-Money's primitive PoS. It is still unproven tech.
If it does end up working there is no reason why it cannot be implemented in Bitcoin if there's reason to. Bitcoin's real value is the UTXO written by its protocol.

[Anonymous No.15487659]

>>15487633
You're one dumb faggot.

[Anonymous No.15487671]

>>15487586
And just because it was quoted doesn't mean it is wrong. It is right because it is factually correct, which is why I pulled the quote.
PoS is unproven and is vaporware until it secures better than PoW, which it does not do at this current point in time.

[Anonymous No.15487693]

>>15486958

Ethereum is dogshit right now until they get the tech, use case and the monetary policy figured out. That is a lot of shit to fix. ETH fags are coping with some delusional scenarios while their investment bleeds every day.

> Unknown inflation model. Has been changed, can be changed at any time

> POS has tanked the price of every coin

> Risky Tech upgrade

> Hyprid POS/POW model will be contentious involving higher inflation to satisfy both parties

> No more scam ICOs to support price, enter scam DeFi meme with 20% interest rates and risk of liquidation when ETH tanks again

> Risk of ICO scam dumps and 72 Million premined ETH dumps

> Price has been tanking for over 2 years now. $390 in June when BTC was $2,400 at .15 BTC ratio


This is how much you can trust ETH monetary policy. Vitalik also claimed it would take a century for ETH supply to hit 100 Million:

> approx ETH supply 95,912,556 time 2018-11-03

> approx ETH supply 98,562,556 time 2025-10-02

> approx ETH supply 101,212,556 time 2128-03-20

https://www.reddit.com/r/ethereum/comments/5izcf5/lets_talk_about_the_projected_coin_supply_over/dbc66rd/

There has been a 30% increase in supply in 3 fucking years!

[Anonymous No.15487710]

>>15486958
what's twetch? Some twitch thing on ether?

[Anonymous No.15487725]

>>15487710
A project for retards on twitter who think they're smarter than the non-retards on twitter

[Anonymous No.15487762]

If we stop talking about the Ethereum it will go away. Arguing with ETHtards is as productive as arguing with Bitconnect bagholders. We can't spoon feed them anymore. If they haven't learned why their bags are a complete scam they don't deserve to ride the Bitcoin bullwave high with the rest of us. Lets leave those late adopting faggots in the dust. Fuck ETH and anyone who buys it.

[Anonymous No.15487764]

>>15487671
If PoS secures better or similar to PoW you will change your mind? Or are you a miner hoping your money fountain doesn't collapse?

[Anonymous No.15487783]

>>15487764
I go with the technology that better secures value, always. I haven't mined Bitcoin since 2012 on the day of the first halvening.

[Anonymous No.15487816]

>>15487783
So if miners continue to centralize around communist china who continues to meet with them periodically, and DPOS or POS is proven safe and effective, you will change your viewpoint?
I think once the mining rewards die down, if the fee market doesn't pick up the (high) costs, BTC is going to have a massive growing pain.
I don't know how it will end but something like NANO will never have those events. It's current consensus model is it's final consensus model.

[Anonymous No.15487849]

>>15487816
If that happens.
Just like if PoS ends up being more secure than PoW.

If.

[Anonymous No.15487860]

>>15487816
The Bitcoin transaction fees will be more profitable than the reward subsidy.

[Anonymous No.15487862]

>>15487261
The ETHBTC chart shows no signs of reversal.

[Anonymous No.15487878]

One day 1 ETH will equal 1 BTC

[Anonymous No.15487888]

>>15487849
Good to hear anon, too many maxis have turned off their critical thinking to root for their chosen coin like it was a football team.
I think the emission schedule changes will be a clusterfuck centered in china but we will see.

[Anonymous No.15487889]

>>15487504
Bitcoin is the joke. It's a failed currency. Muh LN that will be ready in 18 months. Literally ZERO innovation. It's just a ponzi and the only way it's worth anything is getting a new group of retards to buy and hold it because now it's "digital gold". Just wait until the next bull run and people see that it takes 2 hours for a transaction to go through and costs $50. What an ancient piece of shit.

Ethereum on the other hand has 4x more devs building shit on it. Smart contracts will start automating simple financial transactions trustlessly with the help of LINK of course. PoS will draw in larger investment. It's undervalued right now.

Bitcoin will get flipped within 18 months. Cap this.

[Anonymous No.15487903]

>>15487888
I hope you encounter many profits, beauty, and treasures in your journey.

[Anonymous No.15487909]

>>15486958
I have ETH among other coins, but as soon as it pumps due to the PoS hail marry, I getting the fuck out, and waiting for shit to hit the fan, once it turns out a validator got bribed.

[Anonymous No.15487910]

>>15487889
The obvious things Bitcoin has been engineered to solve are invisible to you.

[Anonymous No.15487921]

Proof of stake is literally communism in code form. God people are retarded.

[Anonymous No.15487941]

>>15487693
>Muh Beanie Babies are worth something because there is only 21 million

Eventually, people will see Bitcoin for what it actually is and NOT what they think it is. The average cuck thinks BTC is anonymous. Lmao. It can't scale. Literally no one uses for it anything. Every day a new stable coin launches. Why? Because a volatile asset like Bitcoin makes for retard-grade money.

[Anonymous No.15487945]

>>15487762
>Orange coin go up

[Anonymous No.15487948]

>>15487504
How much money did you honestly lose on Ethereum?

[Anonymous No.15487974]

>>15487941
>It can't scale. Literally no one uses for it anything
I have used Bitcoin every day for the past several years for saving and moving value. Nothing else comes close. Bitcoin has the most evolved technology in the industry, especially with Miniscript and Lightning.

Also Bitcoin is anonymous with Coinjoins. It is hard to do them correctly, but it can be done. Just because you or other normal people cannot do it easily doesn't mean the feature doesn't exist today.

[Anonymous No.15487980]

>>15487910
The only thing good about Bitcoin is it's immutability. And even that won't matter because no one will care about it as it gets swamped by other tech that actually does things besides go up and down. It's just not enough of a use case to sustain it. It's only still surviving based off named recognition and being first.

[Anonymous No.15487994]

>>15487948
I bought at $7...so zero.

[Anonymous No.15488031]

>>15487994
Something doesn't add up

[Anonymous No.15488045]

>>15487974
>I have used Bitcoin every day for the past several years for saving and moving value

See. This is the thing. Bitcoin is only good/useful if you've owned it for several years because you've made so much money off of it.

And why is no one using LN if it's so great? It's not gaining users in any metric that I've seen.

>Also Bitcoin is anonymous with Coinjoins. It is hard to do them correctly, but it can be done. Just because you or other normal people cannot do it easily doesn't mean the feature doesn't exist today

Bitcoin is 10 fucking years old and this is where it's at functionally? Pathetic desu.

[Anonymous No.15488067]

>>15488031
>Buy at $7
>Current ETH price $177

Pretty simple math shows that I'm up quite a bit. It's not really that important to me right now, because I can still easily see it's undervalued.

[Anonymous No.15488098]

ETHcuck cope is hilarious. I remember exactly how arrogant these fags were when they actually thought their worthless shitcoin would flip BTC. Feels good watching them bleed out

[Anonymous No.15488152]

>>15487020
Uwu~!

[Anonymous No.15488178]

>>15488045
First, Bitcoin was useful for me on day one. You don't need to make a bunch of money with Bitcoin for it to be useful. The long-term effect of good money is that it stores value well enough for you to be wealthy.
Second, there are people using LN, more than any alt! It will be implemented into many business operations and software. It is a game changer for payments, while Bitcoin is a game changer for money.
Third, Coinjoins have existed in the protocol since 2012. Normal people do not care deeply about their privacy yet, that is why the tech is where it is at. People are *just now* beginning to care about their financial privacy The anonymity it provides is likely better than Monery and Zcash, especially since you don't need to convert the shittoken to Bitcoin on some exchange which can leak part of your identity.

[Anonymous No.15488198]

>>15487941
You can't compare it with Beanie Babies, you're either dishonest or a brainlet.

[Anonymous No.15488683]

>>15487974
>I have used Bitcoin every day for the past several years for saving and moving value. Nothing else comes close
Stablecoins are better in every single aspect.
If you actually used bitcoin, you know the anguish of waiting for confirmations while the price moves down and you're losing money you were trying to transfer. It's horrible, not a single positive thing. Using dai is like moving to another world.

[Anonymous No.15488697]

>>15486958
he’s correct, but it won’t be eth that will flip btc, it will be chainlink.

[Anonymous No.15488724]

ETH is for fags and pedophiles
shitty centralized pump and dump

[Anonymous No.15488737]

>>15487903
You too anon. I do hope all these networks scale to the bounds of their capacity.
I'd love for the crypto elite to be empowered and then turn that power into unfettered wealth for every person on the planet.
I don't much care for tribalism

[Anonymous No.15488745]

>>15486958
eth pos will moon it

[Anonymous No.15488789]

>>15488683
I do actually use Bitcoin. It clears and cannot be reversed, and once it is done I do not have to worry about the protocol suddenly being worthless or my value being inflated away, or someone working on a protocol becoming compromised and my savings being reduced to nothing.
Stablecoins solve none of the problems that Bitcoin does, so stablecoins are useless in my closed-loop enterprise.

[Anonymous No.15488876]

>>15488789
>the protocol suddenly being worthless or my value being inflated away
that's a much bigger long-term risk with bitcoin. The entire thing only functions because speculators continuously waste money on it. It's completely unable to support itself. To be fair, as long as ethereum uses PoW there's no difference.
>in my closed-loop enterprise.
If you were actually selling drugs or rc you would know what an enormous problem the volatility of bitcoin is. You can lock dai in a multisig and it's going to be worth pretty much the exact same amount in two weeks. This volatility forces sellers to increase the prices by 10%+ to incorporate hedging costs.
One current problem is that it's indeed harder to anonymize dai, but zk-snark mixers like tornado.cash are going to solve that very soon.
Once that's solved, bitcoin is going to disappear from commerce. Things sold for bitcoin must be more expensive because of volatility and exchange costs. It can't be fixed.

8 out of 10 Chinese importers agree:
https://www.coindesk.com/tether-usdt-russia-china-importers

[Anonymous No.15488942]

>>15488876
It is riskier that the Ethereum foundation is compromised than Bitcoin is destroyed because of greed. Bitcoin is able to support itself: the fact it exists each day is evidence of that fact -- and with the subsidy going away it will exist more and more on fees and from protocol usage.

Things I sell for Bitcoin are discounted because of the savings had in not converting between currencies, not having to trade between tokens.

Everything you describe as being faults of Bitcoin have not manifested in my direct experience with it, which I trust more than Chinese importers.

[Anonymous No.15488997]

>>15486958
he's not wrong tho.
the flippening is unlikely to happen from ethereum. but once it happens btc loses all its value.

[Anonymous No.15489117]

>>15488942
>It is riskier that the Ethereum foundation is compromised
which would do what? It would slow down changes a bit at worst.
Insiders already tried to force the parity bailout, but they were told to fuck off by everyone else.
>Bitcoin is able to support itself: the fact it exists each day is evidence of that fact
Just like public pension systems? Being old doesn't make something sustainable.
https://www.blockchain.com/en/charts/cost-per-transaction
It's $59 per transaction. That's paid almost entirely by speculators. Money spent on mining is completely gone and speculators are constantly losing money, billions every year. How is something that only generates losses sustainable?
>Everything you describe as being faults of Bitcoin have not manifested in my direct experience with it
this confirms your claim of a "closed loop enterprise" is a larp.
All actual commerce that uses bitcoin requires the seller to short-sell the equivalent value on the exchange while the payment is sent.
Even in the simplest case the cost of hedging is at least 1%. If there's a risk of payment being completely blocked you have to add probability_of_not_receiving*value_of_loss, which adds even more.
If anonymization is needed, this adds at least 1% on top of that.
The buyer incurs the volatility cost on his end too, not to mention fees.
Card payments are much cheaper all things considered, this is the reason bitcoin never took off as a payment method for normal things. If bitcoin was actually the more efficient option people would use it.

Commerce without hedging is not possible, volatility is too big. Maybe if you sell something with ~100% profit margins and don't care about moves of few percent.

[Anonymous No.15489132]

>>15487878
Never, but very soon 1 ETH will equal 0.01 BTC
and then a couple months later only 0.001 BTC.