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1
Posted on 6/16/22 at 4:03 pm to Eurocat
I think that's not a bad guess.
Posted on 6/16/22 at 5:56 pm to TigerTatorTots
Honestly yes, it would. The market was absolutely inundated with half-baked ideas at best, and total scams at worst. NFT mania maybe shoukdve been our top signal lol
Posted on 6/16/22 at 7:02 pm to Hulkklogan
What - you don't want to pay $100k for an NFT of Madonna with a tree growing out of her vag 
Posted on 6/16/22 at 7:22 pm to FLObserver
I mean if looking for the latest meme explosion, sure
But plenty of good utility cases that should be relatively durable long term.
But plenty of good utility cases that should be relatively durable long term.
Posted on 6/16/22 at 7:58 pm to Eurocat
quote:
My undeducated guess is ONE crypto will survive, just Bitcoin but certainly not the others.
Why were the others created anyway? How were (are) they supposed to be "better" than bitcoin?
Why is there a need for more than one "uncontrolled" currency, wouldn't one by definition be enough?
Each block in a blockchain stores data. Because of this, the possibilities are absolutely limitless.
Go to some crypto websites and read about some of the tokens. Virtually none exist for the same reasons Bitcoin was invented. It seems your knowledge and opinion of crypto is based on Bitcoin and Bitcoin's original purpose alone.
Posted on 6/16/22 at 11:04 pm to tenderfoot tigah
Not sure why something like that is worth anything.
Posted on 6/17/22 at 1:22 am to Eurocat
quote:
Not sure why something like that is worth anything.
Nearly the whole world has shifted to the cloud and you don't see the value in decentralized data? What's in your hands right now and where is your data stored and backed up?
Posted on 6/17/22 at 6:08 am to tenderfoot tigah
Why should I care if my data is centralized or decentralized. Heck, make it centralized, what's the matter with that? Won't that be easier?
Posted on 6/17/22 at 6:09 am to tenderfoot tigah
quote:
Nearly the whole world has shifted to the cloud and you don't see the value in decentralized data? What's in your hands right now and where is your data stored and backed up?
On a server farm owned by Apple, Google, or AWS.
Posted on 6/17/22 at 6:11 am to Eurocat
quote:
Why should I care if my data is centralized or decentralized. Heck, make it centralized, what's the matter with that?
Centralized data is centralized control of the data, and meaning a singular incident could destroy the data.
Decentralization means that record of data is virtually impossible to destroy, erase, alter as it is stored in thousands or millions of locations versus 1.
I get the difference and the importance but one thing I do laugh at is “the cloud”. It’s my understanding that the cloud is just an internet accessible remote server supported by someone else.
Posted on 6/17/22 at 6:43 am to Eurocat
quote:
Why should I care if my data is centralized or decentralized. Heck, make it centralized, what's the matter with that? Won't that be easier?
If you don't mind centralization, then that's fine. That's you. Think of it like this: Would you rather the feds have all the control or state and local governments? That's not a perfect analogy for a decentralized blockchain, but it's a way to think of it. Maybe another way is would you rather the feds have the only copy of the constitution, or would you rather everyone have a copy of the constitution?
Posted on 6/17/22 at 7:42 am to BottomlandBrew
quote:
Maybe another way is would you rather the feds have the only copy of the constitution, or would you rather everyone have a copy of the constitution?
This is how I understood blockchain in a very basic level.
Posted on 6/17/22 at 8:23 am to FLObserver
Bitcoin etal we’re suppose to shine when inflation hit but they crapped the bed instead.
One of the cornerstones of crypto currencies allure was that it was suppose to be impervious to inflation. Inflation hits and it drop’s precipitously. It’s incredibly revealing but the crypto boys won’t allow themselves to see what is happening right before their eyes.
One of the cornerstones of crypto currencies allure was that it was suppose to be impervious to inflation. Inflation hits and it drop’s precipitously. It’s incredibly revealing but the crypto boys won’t allow themselves to see what is happening right before their eyes.
Posted on 6/17/22 at 9:09 am to SlidellCajun
quote:
etal we’re suppose to shine when inflation hit but they crapped the bed instead
Give up your troll on this subject. You're uneducated on the subject and refuse to learn. "Et al." covers thousands of tokens. Not all tokens have the same purpose. Not everything is trying to be virtual gold.
Posted on 6/17/22 at 9:15 am to SlidellCajun
quote:
Bitcoin etal we’re suppose to shine when inflation hit but they crapped the bed instead.
One of the cornerstones of crypto currencies allure was that it was suppose to be impervious to inflation. Inflation hits and it drop’s precipitously. It’s incredibly revealing but the crypto boys won’t allow themselves to see what is happening right before their eyes.
This isn't exactly true in the way you phrase it. BTC is a hedge against irresponsible central banks that devalue their fiat causing inflation, and it was doing just that.
It's no coincidence that the peak of btc was mid Nov 2021, just days before fed started signaling a hawkish turn.
It kind of performed exactly as it was supposed to.
But guess what, the fed can't raise rates out of this, our debt to gdp is going to be absolutely insane when the gdp readings for this q come out. They cant do anything to fix the supply side, which is actively being sabotaged by our administration. If they have to pivot before getting to neutral, look out above for btc
Also you seem to be confusing crypto with btc. This seems to be the norm this cycle as a bunch of newbies got pulled in while we were in a free money environment so no biggie. The calculus of btc's value is drastically different than pretty much every other major crypto currency I've looked into. Most of the other popular coins, don't have the same properties (Complete decentralization, absolute finite amount, large, decade+ old tested network with no security blips or founder) which would make it a hedge against inflation. All that shitcoin bullshite needs to get washed out, I agree. I find little reason to hold any other crypto outside of BTC.
This post was edited on 6/17/22 at 9:55 am
Posted on 6/17/22 at 9:16 am to BottomlandBrew
quote:
Give up your troll on this subject. You're uneducated on the subject and refuse to learn. "Et al." covers thousands of tokens. Not all tokens have the same purpose. Not everything is trying to be virtual gold.
Is it really a troll though. I understand they have different purposes but can you name one right now that is successful in the current environment?
Long-term crypto may be successful because it has been embedded into the younger generation's head that "it is the future". Sentiment may be higher in a decade.
As of now, if you're being honest, it trades like a stock with little to no confidence in how it will be used.
Posted on 6/17/22 at 9:18 am to tenderfoot tigah
quote:
the cloud and you don't see the value in decentralized data?
Those things are exact opposite of one another. The cloud is centralized in the big tech companies that own the servers.
What blockchain hasn’t figured out is how decentralization works. It can track the sale of a home from one buyer to another to another to another…but where do I find that? Centralization allows me to go the clerk of court or hire an abstracter. If it’s decentralized…who the hell knows where it is and how verifiable that data is when I find it.
Right now, centralized data = Amazon Music/Spotify
Decentralized data = Napster
Posted on 6/17/22 at 9:38 am to Suntiger
quote:
but where do I find that?
On the public ledger - which is a record of the blockchain - which is decentralized and held by node operators. For example, I can go to Etherscan right now and see the transaction/ownership history of an NFT (similar in concept to your property deed example). Essentially, Etherscan is a website that reads the validated blockchain and tells people what's going on and where things are going and for how much.
quote:
who the hell knows where it is and how verifiable that data is when I find it
The whole point is it's verifiable. Validators are paid in a native token to confirm that everything looks right, and if 51% of the validators agree, then that's what it is. If an ecosystem becomes too centralized, it is susceptible to a 51% attack, hence why decentralization is important.
Posted on 6/17/22 at 9:41 am to Suntiger
quote:
What blockchain hasn’t figured out is how decentralization works. It can track the sale of a home from one buyer to another to another to another…but where do I find that?
Google bitcoin explorer and etherscan. You see everything. No hiding anything.
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