Crypto (Bitcoin, Ethereum, etc.)

[spurraider21]

Block chain technology is the future. I'll bump this thread in a few years to lol at some of you

blockchain is cute.

but for currency? crypto has been around for a few years now looking for a problem to solve, and it hasn't found one, really, other than what, tax evasion? i dno. its a gambling mechanism like any other security, and thats fine. but call a spade a spade, thats all it is at this point and foreseeably

[Joseph Kony]

Your opinion is cute tbh you're en led to it though

[spurraider21]

Your opinion is cute tbh you're en led to it though

I have no problem with people enriching themselves via crypto as with any other security tbh

but you can enlighten me as to what problem it is solving in the money/currency world. Imo it’s a solution looking for a problem

[spurraider21]

But da blockchain isn’t an answer btw

[baseline bum]

i could go on a long rant but it's easier if you just google it. either you believe in the technology and its utility or you dont tbh, surprised someone as tech savvy is yourself is so anti-blockchain

im a big believer in decentralization, smart contracts, and the utility of NFTs for things aside from dumb pictures of apes. vast majority of dapps are being built on the etherum blockchain. imho this is like the internet before the internet became maintstream

So you can't tell me what it's good for.

[spurraider21]

“either you believe it or you don’t” sounds more like a religion than anything

[spurraider21]

Blockchain technology having real world applications and utility =/= crypto will be anything more than a security/gambling mechanism

[spurraider21]

[Leetonidas]

Both of you can easily look it up. it's no one's job on here to convince you to invest your money

I am not going to pretend to be an expert on the technology. but those "Crypto bros" myself included have been making bank the last year in crypto so people laughing at it while we're stacking bills just means they're missing out. i'm in it to make money, and so far i've done a pretty good job of that

[spurraider21]

You can’t answer either.

I have no ill will toward those who made and are making money off buying and selling them like any other security

making money off trading crypto or thinking it can be a continued vehicle for successful trading doesn’t mean you have to believe “crypto is the future”

those aren’t mutually exclusive

[leemajors]

Dogecoin founder shared his thoughts on crypto

[Leetonidas]

You can’t answer either.

I have no ill will toward those who made and are making money off buying and selling them like any other security

making money off trading crypto or thinking it can be a continued vehicle for successful trading doesn’t mean you have to believe “crypto is the future”

those aren’t mutually exclusive

Of course I could answer but i see no reason to type a long paragraph explaining why since no answer I can provide you would be sufficient to change anyone's mind who doesnt get there on their own. I'm also not interested in proving anything to anyone to each his own man. Yall are welcome to believe whatever you want. And that's fine. 1 year ago I probably would have said the exact same thing as you or bb

[baseline bum]

Both of you can easily look it up. it's no one's job on here to convince you to invest your money

I am not going to pretend to be an expert on the technology. but those "Crypto bros" myself included have been making bank the last year in crypto so people laughing at it while we're stacking bills just means they're missing out. i'm in it to make money, and so far i've done a pretty good job of that

Why should I do Kony's work for him when it's his claim? And people made money speculating on tulip bulbs too while they were being hyped up.

[spurraider21]

from that twitter thread

"But these days even the most modest critique of cryptocurrency will draw smears from the powerful figures in control of the industry and the ire of retail investors who they’ve sold the false promise of one day being a fellow billionaire. Good-faith debate is near impossible."

sounds familiar

[spurraider21]

Of course I could answer but i see no reason to type a long paragraph explaining why since no answer I can provide you would be sufficient to change anyone's mind who doesnt get there on their own. I'm also not interested in proving anything to anyone to each his own man. Yall are welcome to believe whatever you want. And that's fine. 1 year ago I probably would have said the exact same thing as you or bb

people cant seem to separate the fact that they have or continue to make money off trading crypto from the claim that its "the future" or can ever be a viable form of currency

i have no issue with the former. im just very skeptical of the latter

[Leetonidas]

people cant seem to separate the fact that they have or continue to make money off trading crypto from the claim that its "the future" or can ever be a viable form of currency

i have no issue with the former. im just very skeptical of the latter

I have no issue with that or admitting crypto is a highly speculative and volatile asset. But it's also difficult to prove anything is the future when it hasn't happened yet

[spurraider21]

I have no issue with that or admitting crypto is a highly speculative and volatile asset. But it's also difficult to prove anything is the future when it hasn't happened yet

but whats the basis to believe its the future?

if you yourself acknowledge that it is speculative and volatile then it would almost by definition be a piss poor currency

[SpursforSix]

I have no problem with people enriching themselves via crypto as with any other security tbh

but you can enlighten me as to what problem it is solving in the money/currency world. Imo it’s a solution looking for a problem

I don't have much crypto holdings. But a "solution looking for a problem" is how capitalism works. Once big interests get on board,(whether it be banks, pharma, energy), they'll ultimately dictate the value of any particular asset.

[baseline bum]

people cant seem to separate the fact that they have or continue to make money off trading crypto from the claim that its "the future" or can ever be a viable form of currency

i have no issue with the former. im just very skeptical of the latter

It's not used as a currency, it's crap to speculate on. Only time it was widely used as a currency was in the silk road days to buy drugs and . It uses way too much power to scale to be a real currency. ing crypto had AMD on the brink of bankruptcy when LiteCoin crashed in 2014 and all their expensive Hawaii gpus tanked in value after miners flooded the used market with them and they didn't release another high-end gpu until Radeon VII in 2019 thanks to the LiteCoin crash guttingtheir gpu division. ing financial innovation always turns out to be cancer.

[spurraider21]

I don't have much crypto holdings. But a "solution looking for a problem" is how capitalism works. Once big interests get on board,(whether it be banks, pharma, energy), they'll ultimately dictate the value of any particular asset.

you think banks, medicine, and energy were solutions that didnt solve problems? i disagree tbh.

the only problem that crypto has actually addressed is people trying to hide their money or evade taxes or something. otherwise its just a security that people trade on to make money (which is fine, and more power to anyone that makes money off of them). but then it should be regulated as such.

[Joseph Kony]

if you all are truly interested then i can provide a more in depth answer later after work. personally didnt see the point as i feel BB would scoff at it no matter what as he seems very set in his ideas on crypto and blockchain tech. i assume its because of all the GPU farming but mining is going to be obsolete once ETH switches to proof-of-stake later this year

tbh the vast majority of crypto is worthless . there are a few projects that i believe have utility or potential to grow big time over the next few years. holding crypto also gives you governance within the chain, so there is more to it than just hoarding random coins. SR asked what does blockchain solve - it is a decentralized, easily traceable, instant system of payment. there are no intermediaries or third parties. all exchanges are logged on the chain for everyone to see. smart contracts are another thing im bullish on

But, like i said, if you really are actually interested in my opinion and arent just asking to scoff at it, i can provide a more in depth answer later

[Joseph Kony]

you think banks, medicine, and energy were solutions that didnt solve problems? i disagree tbh.

the only problem that crypto has actually addressed is people trying to hide their money or evade taxes or something. otherwise its just a security that people trade on to make money (which is fine, and more power to anyone that makes money off of them). but then it should be regulated as such.

block chains are incredibly easy to trace and verify transactions. it is way easier to trace money on the blockchain than actual cash. the whole "its used to evade taxes or buy illegal stuff" schtick has been debunked many times


everyday crpyto becomes more mainstream. big CC companies, vendors, venues, etc, all kinds of companies are beginning to adopt it. if you think its just going to crash and vanish then you're welcome to, but imho this is just the beginning. the anti crypto crowd has been saying the same since 2010 and 12 years later its still growing

[spurraider21]

if you all are truly interested then i can provide a more in depth answer later after work. personally didnt see the point as i feel BB would scoff at it no matter what as he seems very set in his ideas on crypto and blockchain tech. i assume its because of all the GPU farming but mining is going to be obsolete once ETH switches to proof-of-stake later this year

tbh the vast majority of crypto is worthless . there are a few projects that i believe have utility or potential to grow big time over the next few years. holding crypto also gives you governance within the chain, so there is more to it than just hoarding random coins. SR asked what does blockchain solve - it is a decentralized, easily traceable, instant system of payment. there are no intermediaries or third parties. all exchanges are logged on the chain for everyone to see. smart contracts are another thing im bullish on

But, like i said, if you really are actually interested in my opinion and arent just asking to scoff at it, i can provide a more in depth answer later

i didnt really ask what blockchain itself solves, i dont doubt that it will have some utility. im more curious as to why one should believe crypto will be the future of currencies.

ok, its decentralized. i hear this one a lot, so lets start there. what are problems with the current centralized forms of currency (say, the USD) that are solved by the decentralized format from, say, bitcoin.

[Leetonidas]

but whats the basis to believe its the future?

if you yourself acknowledge that it is speculative and volatile then it would almost by definition be a piss poor currency

I didn't say it was the future. Pretty sure JK said blockchain technology itself was the future

[baseline bum]

i assume its because of all the GPU farming but mining is going to be obsolete once ETH switches to proof-of-stake later this year

Some other ASIC resistant coin will take ether's place in a couple of years just like ether took litecoin's place.