Opinion: The Bitcoin bubble has burst. The Crypto bubble hasn’t even begun

How did you get this number?

in your own words describe how blockchain tech is revolutionary and improves your, or the average persons day to day life? Institutions have been doing fine witht the sheer power they have. The establishment can make nuclear arms to blow the entire world up many times over. Whats so great about a blockchain other than it being an excellent buzzword. Why do I need this? What problem does it solve?

This is what I dont get with this "blockchain is best thing ever". What am I missing? Its literally...nothing.

I think we're just getting into the phase of mania with institutional investors moving into the space.

I also think BTC will crash to its price where it was mid-late March of 2017, after that the market will be very bullish IMO.

Remember this post.

>secure database have existed for decades
>i-its still in its infancy!
whats it like be this fucking delusional?

t:low IQ turbobrainlets who haven’t done any reading about the blockchain

imo money is already digitized, i trust my bank with my money and i never even see it. it's just a string hosted somewhere on their servers.

banks cuck us all, why the fuck do I gotta pay stupid fees and wait for transfers?

The biggest issue with banks in regard to our banking system is the holding rate and how it effects banking behavior.

You don't even know where your money is most of the time. Just look at what happened in 2008.

Blockchain will do for finance/banking what the internet did for distribution.

I believe in utility tokens because of my field of work. Smart contracts, tokens that facilitate machine learning, and can parse data into decision making portals have so many pro's for businesses.

>mfw takes 3-5 days to wire a significant amount of USD
>mfw I can send 6 figs worth of BTC same day
>mfw i have no face

I get its a permanent ledger, but Im just a regular Joe whats this have to do with me? People that want transparency build trust and people that want to avoid transparency will always find a way to mask thier activity. This is where you get things like secret societies and what not. Nothing here seems new to me. Human nature must come first not technology. If there was a demand for whatever this is supposed to be we would be using it. The ineternet was adopted because people desied it. We are already a society that accepts the tradeoff of privacy and rights in favour of convienience. If people cared about this stuff they would first abandon the old tech like FB and Gmail and Banks. Im yet to find anyone that can sell me on BC. Good stuff sells its self. The price skyrocketing is what sold it to normies not the tech. Seriously can anyone in thier own words show me the light? Im not a noob and have listened to plenty of programmers and BTC advocates lecture on the tech. I dont get it.

>blockchain is literally nothing guys

sure
but bitcoin bubble have to reset market first

You fucking crypto cucks, what is there for normie retard? What?

>Ummm...You see...there are chink mining cartels that are veryfying your transactions and getting big paycheck for it
>Oh so that is why I wait for 24hr for transaction
>Yes b-but its decentralized

Im not even going into every single one of us being in this for money and not for actually using it. The more people hold and do not sell, the more price grows, but how is that even close ti being currency?

>Mfw I need to wait 20hr for BTC to transfer and pas 60$ fee

This is why this POS has to GTFO asap.

Couple things. You're viewing technology from an anthrocentric stand point. We shape technology from societal and cultural values and it in turn shapes our society and values. The reason why people aren't moving away from FB gmail or all these other services with poor privacy is because their are no efficient substitute. Normies sacrifice these things because to them they don't matter as much as the utility they experience from consuming those medias.

I also dont think Blockchain is some utopian wealth redistribution technology that will solve all our problems. It eliminates a lot of efficiencies and will curb the power of central banks. For the first time in history we have reached a bubble for bonds, literally the most safe asset. Japan and China are dumping US Bonds due to the current geopolitical climate. Eliminating a currencies association with a sovereign state would reduce the amount of inefficiencies caused by policy in all aspects of trade.

Ships let us trade across the planet, Planes made it more practical and quicker, but we've always received final settlement in a method which seems archaic now.

Why use a payment processors and pay fees when you can transfer over large amounts of wealth across the World?

No need for insults. I wager I have spent more time reseaching than you. Id wager Ive invested more and made more aswell, but this isnt a pissing contest its a discussion and the fact that you resort to adhominum attacks really points to your frustration and inability to describe the praticality of the tech. I want it to succeed im invested and its my ticket out of "poverty" I buy the dream too, but really, what problem does it solve? I dont think you have an answer.
Yes the classic I want to steer my own ship idea. The libertatrian ideal, but I accept that I could not survive on my own in the woods. I accept that I exist in a power structure that serves we well. The structure gives my doctors and sanatation workers. If you are truly looking at it from an ideal place, you could just live the pioneer life in a rural area. You want you cake and to eat it too. If you want to deal with money its good to deal with the bank. I have had a lot of money over the years stolen from my CC and the bank covers it. If someone steals my gold or BTC im out of luck. Its a tradeoff. Your selling me an ideal but not really a practical idea. Seems like a contradiction to be honest. People give you a service like protecting your money or free email and in return they take thier fee, wheter it be your data or cash. Again I want it to workout as I am invested, but cmon. Really? Blockchain? Privacy? Economics? These arent big issues to your joe 6 pack who just wants to watch his sports and fuck his wife.

blockchain is still not very useful

Jesus this thread is filled with a bunch of niggers who seem to have gotten lost on their way to ledit or some unrelated forum.

> hi guyz wuts blockchain?

>how can it revolutionize anything? I dunt get it. Pls explain.

Show tits or get the fuck out

I am in no way shape or form emotionally attached to my investments in Crypto. The thing is though, if BC is adopted it won't matter what 6 pack Joe think's, he's not going to make or break the market - not even the aggregate of 6 pack Joes. They all have bank accounts but 99.99% of them can't tell you how it works.

By your argument we shouldn't pursue the majority of the things that we do as a race because those of us below the median can't comprehend them.

Why the fuck would I, as a bank, not adopt blockchain essentially rebranding myself and my practices; enter the cryptospace with an exchange?

That lil CZ gook makes over 21 mil in trading fees a fucking day.

Speculation on crypto to make a quick buck is a bubble that is in the process of bursting. Normies are bleeding out and will stay out. This is good, because now we are back to being early adopters in the actually using crypto instead of fiat currency bubble, which hasn’t even begun yet. Strap in fags.

literally who gives a fuck about the bricklaying hick that sinks a 6 pack after work? they play no role in technology lmao. the smart people that see the potential will continue to develop blockchain technology and hopefully in the future it has reached a point where it is feasible to use for the layman. you think people like that gave a shit about the internet early on? you think those people stifled the growth of it? they didn't, because they play no role in it

Well I dont have large amounts of wealth for one. You could say the same for space travel. Why havent we advanced since landing on the moon? Why havent we explored the entire ocian floor? There is no practical point to do so. A new tech that aids the uber wealthy in thier dealings really has nothing to do with us. I see a lot of intellegent people in crypto. Thats why its sad when we are rude to oneanother but i feel like we are all human first and this sort of behaviour is really a response to our subconcious knowing that we are being dellusional. I think there are a lot of intellegent, frustrated people in crypto. I dont think crypto is the answer.

An answer to what?

You're attaching a fuck ton of sentiments to an emerging technology.

It's good your skeptical, everyone should practice more skepticism.

I wish you many fortunes, faggot.

What Im saying is if the elite and techno savy people feel the need to develop a tech why do they need our money? Google didnt need my money nor did NASA. Arent we just helping develop a tech like paying test subjects that we will not ulitmately benefit from in the end in hopes of getting a piece of the pie? Once all the tech is developed whats to stop a USD blockchain backed by a warmachine as being the status quo? I just buy coffee and beer with my money. I dont care whos face is on the bill. Just want my vices like 98% of the planet.

Blockchain Ledger: A ledger copied and checked against itself by an independant distributed network is nearly immutable, therefore the ledger is trustless.

Smart Contract: The smart contract is an application on the blockchain where contractual terms can be set over the transaction on the blockchain and written into the trustless ledger.

Decentralized Transactions: Cuts fees and saves time by removing the centralized trust system.

>in your own words describe how blockchain tech is revolutionary and improves your, or the average persons day to day life?

Bottom line: It saves time and money. It cuts out the middlemen who track the ledger, who track the contracts, who collect the fees. It tremendously reduces the endless bureaucracy and paper pushing, removing all those useless jobs from the system and cuts off the food from the banks (transaction fees).

I don't know if you're just full of shit or what, but if you don't know this already then I don't know why you're here.

I believe in cryptocurrencies and tokens, but the thing is I don't think they have to be incredibly expensive to have utility. In fact, the opposite is true. When dealing with cryptos most people assume "it's a good project, therefore more people will want to buy the coin, therefore the price will go up so I'll buy now." Which is sound logic, but it completely bypasses the question does the coin/token benefit at all from a high price?

they don't need *your* money first of all, absolutely NOBODY gives a shit if you put money into the scene or not. why are you comparing the crypto scene to google and NASA? there are probably 10x more janitors at google than there are devs on the biggest crypto project. now how would they entice or force people buying into your so called "usd blockchain backed by a warmachine"? actually i genuinely have no clue what you even mean by that, please elaborate. in my opinion crypto and fiat will coexist for maybe 1-3 decades before something drastic happens and one is eliminated, you don't need to worry about not being able to buy a beer or whatever the fuck it is that you're worried about

By 2020 the moon will literally be made out of Dogecoin

>The establishment can make nuclear arms to blow the entire world up many times over.
True. All the more reason to put nukes on blockchain my man. Stop Canada secretly accumulating again.

you need to actually trust someone to put it into your database

trustless systems are a game changer

The Bitcoin[1] blockchain holds great promise for distributed ledgers, but the blockchain as a payment platform, by itself, cannot cover the world’s commerce anytime in the near future. The blockchain is a gossip protocol whereby all state modifications to the ledger are broadcast to all participants. It is through this “gossip protocol” that consensus of the state, everyone’s balances, is agreed upon. If each node in the bitcoin network must know about every single transaction that occurs globally, that creates a significant drag on the ability of the network to encompass all global financial transactions.

The payment network Visa achieved 47,000 peak transactions per second (tps) on its network during the 2013 holidays[2], and currently averages hundreds of millions per day. Currently, Bitcoin supports less than 7 transactions per second with a 1 megabyte block limit. If we use an average of 300 bytes per bitcoin transaction and assumed unlimited block sizes, an equivalent capacity to peak Visa transaction volume of 47,000/tps would be nearly 8 gigabytes per Bitcoin block, every ten minutes on average. Continuously, that would be over 400 terabytes of data per year.

Sure but we are poor. We dont have millions and millions to save in fees, so why dont people with those millions invest in devloping that sort of tech security? Im fine to keep paying bank fees for the protection they serve. Same as Im willing to pay a premium for medicine that requires millions in research and development. Why are we investing and not the rich? Thats a red flag to me. Smart contracts are no different that gift cards from stores. In the black market we often pay eachother with giftcards to retain privacy. We have already found solutions to these sorts of problems. Blockchain seems like a good way to keep an eye on everyone. I dont see how it helps the little guy.
If something is good, its kept for the elites not the common class. You arent allowed to invest in good shit. This stuff is mostly shit so they let us fuck one another over in our little game. You dont understand that a currency needs to be backed by something? Knights Templer could gurantee your money by using thier army to inforce thier system. Today the US dollar is the standard and it has everything to do with them having the strongest army to back the currency. Lets try to understand eachother not try to cut eachother down. We are all normies here despite what you want to believe. You didnt have to write code or pay a fee or kill someone to post on Veeky Forums and there is as much subversion here as red dit. Its just the other extreme.

You're only focusing on bitcoin. Bitcoin was the proof of concept for blockchain. The tech that's coming out of it now is what is revolutionary. Walton and Vechain are the future of distribution and logistics, REQ can save companies billions versus the fees from PayPal and credit cards, PRL can get rid of ads for virtually nothing to the average user and still create a revenue stream for companies in lieu of ads, and these are just the basics. When self driving cars integrate blockchain is where the real adoption will settle in imo because it's practically needed for it to work in mass volume. They also need a blockchain version of "carfax" just because that's brilliant. As a currency, don't you ever wonder what charities and government spend your $ on? Crypto adoption lets you know exactly what they spend it on

delusional the only market there will be is already established corps picking up the FREE SHIT left and right while the shitcoin market will bleed try

enjoy your country coins in near future faggots ...

Bitcoin 100k eoy suck on that

>Hurrrrrrrrr

McAfee still has his dick on the line, I don't think he knows how to lie, I think 2 million by eoy 2020

the big institutions have enough money to literally buy millions of horse drawn carts to transport their goods dude!! what possible reason would they have for trucks??

Do you even know what immutable means? How can something be "nearly" immutable?