How useful is crypto actually?

Not trying to FUD. But let's think a little about this 500 billion industry. What are actual use cases for crypto currently? Other than the meme
>muh decentralized blockchain ledger
blockchain was around already 10 years ago.

Current crypto use cases
>XMR to buy drugs off interwebs
>ETH to launch scammy ICOs
>Cryptokitties
>Cryptopokemon
>Fucking ponzi schemes are the closest thing to actual blockchain and smart contracts usage

so.. uh. is this actually even useful? everybody is speculating on POTENTIAL. But what can you currently do with it?

Damn pajeets, too buzy shilling discord groups and mobius

It's not. You see, the true early adopters got into BTC for the right reasons. What came next was the narrative (fight banks, fight the system) most of these don't even know how blockchain works and what its limitations are. The third wave were the normies who are here to make a quick buck. Would most people give a shit had BTCs price not rocketed to 20k? Nope. So, why are shitcoins being pumped? Because people realised they missed the boat with BTC and are now looking for the next BTC (

Fuck man why you gotta be so honest. I just want to make it.

2/ Do we really need a blockchain? Sure, Here are the only usecases I can think of where a blockchain is needed:
>Store of value. If you put your wealth into BTC to keep it from the government but did so at Private transactions: Buying drugs online
>Tax evasion: see hiding wealth from the government
...the rest is garbage vaporware. The blockchain tech cannot scale. It's too slow and expensive. I mean, it's not even mass adopted and look at how much power it consumes. I may revisit this idea some day when/if its improved. But thus far, btc is only good for small scale transactions.

What can you do with USD besides buying stuff because people sell stuff for it?
500 billion ain't shit if people actually start using crypto.

if anything useful is going to come out of this in the near term it's going to be smart contracts.

Don't worry my dude. If you're not emotionally invested then you'll be fine. I'm here for the money. Sure, I'd like to use crypto on a day-to-day basis - it might happen some day. However, lets look at price. The price of crypto will go up. BTC will hit 50k-100k. I dont know what narrative will cause it to do this. It'll be another market cycle. The greed is rampant in this market, so I feel a lot of people need to lose there money before we start a new cycle. It may not happen, but a 12 month period where nothing happens would be good for this space.

We all do, we all do.

This thread again? Go kys pajeet

as soon as governments regulate crypto->fiat exchanges then the whole financial aspect of crypto is instantly BTFO'd

VeChain, 62 pages of non White-paper, blockchain roadmap. If you're really curious note that China included blockchain in their 5 yr development plan. I hope you understand what that means, China dont fuck with memes

>not using blockchain to leverage largely heterogenized anonymous computing networks for efficient and cheap processing power.
>wew lad

The net step is that you can only buy crypto for cash from a localBTC guy and do your trading on a decentralized exchange.

that sounds like a 90% drop on price of crypto to me.

buy trac before todays masternodes announcement

yes, given that the rest of economy doesn't crash. I think the next economic downfall will be the test whether crypto will make it or not.

thanks sir

Also to send money to causes that (((they))) push off conventional payment platforms

Normies get out. Come back at the next bubble

>> That momet when people realise that blockchain is just a way to trustlessly agree on the order of transactions and pbft was invented in 1999.....

blockchain is not usefull for decentralized computing and everyone with a grasp on technology know it since you are limitted by the slowest node on the network

Is very useful in validating tho

ergo eth is fucking useless ponzi scheme to spawn ponzi schemes

btc and some others are fucking great tho

also storage solutions are fucking ridiculous

Buying drugs on the Internet is the best usecase of crypto. This is why you should build up a stack on XMR

Reminds me of internet fud during the days of bbs. Maybe you are trolling, but people would unironically say the same things about the new technology called the internet. They scoffed at the idea of online marketplaces, multiplayer video games, and content sharing. It was truly absurd, to them. They didnt get it.

It took them many many years of constant growing exposure to get it. Then by the time they got it, they decided it was better to pretend they were always on board.

The same will happen with blockchain. Dapps and smart contracts mean anybody can create something instantly that others can decide has huge value, and feed into it. Right now we have these stupid ponzies and bullshit novelty tokens.

In 5 years from now what we will have will seem unbelievable by comparison. The tech will mature, so will the use cases.

Does anyone here genuinely believe crypto will soon replace actual fiat? Like seriously unironically believe this?

I don't think fiat is ever going anywhere, and neither is crypto. Both are going to have their advantages and disadvantages.
>crypto for specialized needs; like drugs, money laundering, tax evasion, remittence payments, etc
>fiat for legit reasons that crypto will have trouble breaking into for a while (5-10 years at least); cashing out so you can open a business, buy a home, buy a car, etc from sources that dont accept crypto

I think once wallets and tech is more streamlined for normies to understand itll gain much more acceptance. But most of them are completely confused when they start looking into crypto from how wallets work, to how to track transactions let alone what a smart contract is.

As long as the ruling elite is in power I dont think we'll see mass adoption quite yet. Most of these dumb ass politicians and businessmen who run the world barely understand how to use a computer let alone block chain technology. They'll easily hold back the potential for crypto and the human race from progress for another 20 years which is fucking sad because block chain tech is so revolutionary it can easily change every aspect of life for us exponentially.

Holy this thread is a huge reminder that Veeky Forums is full of brainlets that are too retarded to grasp the implications of blockchain. I see 0 talk in here about how tamper proof data and distributed ledgers will transform the way businesses operate and how it will pave the way for the next industrial revolution. Crypto is the biggest innovation since the internet and 99% of Veeky Forums fails to see this.

Such a dumb argument - people have also been right about disparaging other new technologies, you just don't hear about them because the technology faded into obscurity.

People were wrong about internet, therefore people are wrong about blockchain.

Look at the fundamentals - it's a database where people can trustless agree on the order of transactions.

On top of that, you're barely even investing into blockchain by buying meme coins (even assuming the blockchain will be "revolutionary"), so either way, this is a retarded bubble.

Tamper proof data has been with us for fucking ages, it's called a merkle tree. Literally tech from more than half a century ago. The bft algs for distributed programs were created in the 80s, then perfected in 1999 (pbft). It's really not "revolutionary".

Yes, its the best technology to replace fiat. RFID/4G connection means you wont ever need to take a waller out ever again in your life. Scan and go, and your receipt is on the blockchain. Still need humans for the return desk/customer service, but checkout will be a thing of the past. Thats just retail. Amazon is already doing it, but blockchain makes validation easier.

Wabi is rolling out a fully automated store this year as a test, using their blockchain.

>barely even investing into blockchain by buying meme coins
What do you mean? This bubble has created an environment where develoeprs can just try out shit in hope to get money. Perfect formula for innovation.

>coins

As in if you looking to make money, invest in stocks in a company specialising in blockchain. Most of these tokens are tokens used to pay fees. What you described is a perfect environment for scammers.

Jesus christ fucking dogecoin is 2 billion dollars, dentacoin had a billion dollar marketcap.

For sure some smart people are in this. But, like the end of every bubble, the majority are people trying to fleece you of your money.

Yeah man totally a million nerds deciding all at once that this technology is literally revolutionary the moment it "clicked" in their heads is just a fluke. They are just confused and will go back to regular programming and IT wageslaving any second now....

No. You will get left behind. It will "click" for you someday in the future when you are surrounded by the technology and are enjoying the benefits.

bubble drives innovation AND scammers.
If there wasn't an extraordinary economic treat, most developers wouldn't bother with it because they're well-paid anyway.

Ofcourse people the right to doubt crypto but it doesn’t make it any less retarded.

Ofcourse we are in a speculative bubble, but right now we are still at ground zero of blockchain platforms being built in the years to come.

>assuming blockchain will be ‘revolutionary’
Listen faggot, have you even done your homework and read about DAO’s, Smartcontracts? These things will replace so many jobs it’ll make your head spin. This will happen and the only thing that halts just future are the scaling solutions that are being developed. FinTech, supply chain management, government, constuction will get so much more efficient.

Blockchain will also pave the way for 2nd and 3rd world countries to get more acces to said industries.

Yeah there are lots of scammers. So too with the internet...doesnt mean it didnt revolutionize shopping and entertainment and socializing.

Literally the best minds in software development are scrambling to implement blockchain. Why would they be doing that if they thought it didnt have a purpose?

Adding a trustless layer of verification to everything will change how we interact with the world and each other.

Banks are going to use Stellar to exchange letters of trade.

So basically its a way to tell each other that everything is OK with a client and they will pay up.

Blockchains are excellent for such projects.

But crypto coins themselves are useful to transfer money without bank accounts and without government control.

I cant stress just how truly mind blowing this shit is once you begin to actuslly grasp the concept and the scale of the problems it can solve. It could actually cause a global catastrophe if implemented too quickly, because of the number of jobs it will make obsolete and the number of man hours it will remove from conventional industry tasks.

I mean it might actually start a war or two, indirectly through its economic impact as things get sorted out. Lol

It's honestly the best shot we have at the moment user.

user I want to believe Bitcoin/Crypto will replace fiat. I'd for once like to see a deflationary currency take hold of the world economy where there isn't some dickhead cunt sitting in a chair having the ability to corrupt an entire nation through monetary policy.

I believe that we will indeed have crypto replace fiat. But fuck me if it is not going to be an easy transition. Bitcoin in my opinion will get there, and this adoption highlighting it's scalability issues will be a blessing in disguise at it will allow the devs to think through the best way to address it. Other 'fast' currencies are just that because they aren't as widely adopted.

But I am barely scratching the surface, in which blockchain itself will revolutionise the digital age and how we engage with commerce as a whole.

Like an user said before, too many normies got in and focused on price itself, and never built the foundation of vision, which was to overthrow our garbage monetary system in the firstplace.

I do development for a DAO and have used smart contracts. They have serious problems. For a start, smart contracts can't be changed if something goes wrong, so usually you have to put in loads of failsafes to protect against that, so you have to put alot of trust in the issuers. Also the rely on private key signing, which has serious security considerations.

DAOs have all the political problems that other human organisations have (jesus christ, perhaps worse).

Again, a blockchain is just a really expensive way to trustless agree on an order of transactions. It's not magic dust that makes 'fintech and contsruction' instantly cheaper.

Yeah there are problems with the tech. Its still a baby. What we will wind up wirh 10 years from now will be conceptually similar, but otherwise unrecognizable and better in every concievable way.

The only way to get there is through the fucking around phase where everything under the sun is tried and played with, until somebody with the right number of brain cells sorts it out with genius innovation.