Finally Dr. Doom speaks out about the Blockchain tech

He obviously doesn't know there is already crypto which solves these problems.

this

Which one?

>“Blockchain wont be big because it relies on tcp/ip”
So Amazon won’t be big because they rely on tcp/ip? The brainletism is extraordinary

oy

I wasn't going to read this or say anything but I decided to read it and say something. How can any article be more wrong than this one? Practically every statement they made about block chain technology is incorrect, outdated or worse, purposely ignorant and malicious. Let this article be a reminder to everyone here of two things: The people who are against us are dinosaurs, slow and archaic. They do not have the tools to fight us. If they try, they will fail. If they believe they can stop the future, they are wrong. Finally, let it be a reminder that just because a person is powerful and influential, rich and pedigreed, "educated" does not mean that they aren't an idiot. There are a lot of rich and powerful idiots.

most obvious fud I've ever seen. average Veeky Forums poster is a better writer than this faggot

>Nouriel Roubini was born in Istanbul, Turkey, to Iranian Jewish parents
EVERY
FUCKING
TIME

Holy fucking shit. This article is the exact definition of a retard acting smart. It's just so wrong, the dude must have done so little research and simply convinced himself that his opinions were facts because he wuz smart n sheit.

Why is it always a fucking jew? Look, I do my research and I don't jump the gun. But I'm never surprised. Practically every malicious liberal loser in a place of power, especially the bankers and media, is either a jew or controlled by a fucking jew. It's insane. It's a secret society hiding in plain sight. If I could kill all the jews or kill all the muslims, I would kill all the Jews. Jews are dangerous because they hide in plain sight. At least Muslims are somewhat honest about their intention to kill us all and blow us up.

/g/ here

blockchain and bitcoin are buzzwords like cloud and 4k

the normals look at them in awe BUT if you knew shit about technology you'd know its all hype and no substance

It makes me hate the average jew. They don't know any better. They aren't a part of the inner circle. Sometimes I think about fucking a powerful jewish girl and joining a powerful family. Not for me but for America. I'd join the secret cabals and find all the answers that we want. And I will publish a book. And they will kill me. And they will burn the book. And they will call me a Nazi. But at least, I will know the truth.

if he's so smart then why doesn't he know shit about what makes crypto useful

I'm a lead distributed systems engineer and he is right. We always joke at work about you crypto brainlets.

Literally everything in this article is true. I've personally worked on systems that process over 2 million transactions per second.. Fact is, blockchain tech will never scale. It requires O(n) network cost for writes for god sakes.

the sad part is you can tell that they understood the value of the technology and the use cases but then they just reversed all the sentences. They took the good and made it bad. They deliberately lied in this article. They deliberately skewed the truth. These evil people are intelligent. And that makes them dangerous. The blacks are low IQ which makes them good slaves, but the Jews have high IQ which makes them good masters. I feel sorry for the blacks because they don't know any better. But the Jews are malicious.

hahaha. the whole point of block-chain is decentralization. It will scale with time. By the end of 2020, EOS will be doing millions of transactions per second.

What about side chains my dude

That's great, but is it decentralized?

>if you don't know this random opinion-maker you don't know anything important

ye sure thing, kys

but what about for applications that need security over speed? Or what about applications outside of being a corporate datamine? Because that's all I'm doing by putting my data in your faster systems, letting your masters sell my data while they snort coke paid by your work. You got the blinders on so tight you don't even see why decentralization is so useful.

Riddle me this: Why haven't corporation's taken down bittorrent and replaced it with something better and centralized? Oh wait that was never the fucking use purpose.

this

he's basically a mainstream bizraeli

Blockchain technology brings power and trust back to the people. There is no greater revolution than the next few decades. I am excited for a world where trustlessness is baked into everything. Where you have the control.

>cockroach son of iranian jews
>thrustworthy

>Blockchain technology brings power and trust back to the people. There is no greater revolution than the next few decades.

you spoke like a brainwashed cult member

your opinion collides with technical facts about Blockchain

why is he so obsessed with bashing bitcoin?
why dont he just let go?
if he thinks that the value plummets down 0 anyway just let it go, so pathetic

He's actually saying nothing out of the ordinary, and everyoe accusing the author of being a brainlet is a brainlet himself.
Yes, blockchain is a neat "new" technology and will have (niche) uses in the future for real world businesses.
Yes, most coins/ico's are scams/overhyped garbage and will go to 0, indeed mirroring previous bubbles.

>but what about for applications that need security over speed?

Blockchains aren't secure at all.

Some problems with blockchain technology:

1) All data is REPLICATED and visible to all parties. Stop saying "but muh data protection" because literally with blockchain as a data structure all data is replicated everywhere.

2) Immutability of data. Makes things really bad in practice. Ie: lost my private key to my bank account -> can't ever recover my balance. Someone got my private key and stole all my funds? Can't do shit about it. Immutability comes with massive hardware storage costs. Currently the etherium blockchain is around 100 gigabytes, and etherium's transaction volume is miniscule compared to someone like Visa's. Imagine how big it will be in 20 years. That means if you want to setup a node (ie: a wallet) you will need to download the entire blockchain. Oh, you don't want to download the entire blockchain and will use a wallet service? So much for trustless.

Please, enlighten us about what you know about the technicals.

>/g/ here
Go back to running damage control for SJW devs.

3) If making the blockchain cryptographically secure via proof of work, every transaction must be verified by every node. Total energy consumed by the blockchain is probably quadratic with respect to number of nodes in the blockchain because each transaction is O(n) to verify and number of transactions in the blockchain is also proportional to number of nodes (in most cases, but application specific)

yeah dude, enigma's totally not a thing, huh? Blockchain privacy will be coming soon to you for platforms. Nodes will be run all around the world.

Cloud computing actually has real world use.

You keep listing things that are not a problems with blockchain.

ach gateways rely on tcp/ip
nasdaq/omx relies on tcp/ip
visa relies on tcp/ip

joking about people who made more money than you ever will

SALT

The company I work at is actually one of the top 5 DSPs in the world so I know a good deal about internet privacy laws in regards to personal data. Fact is, European law restricts us from keeping any personal data indefinitely. That automatically rules out using a blockchain solution (see "immutability"). It also highlights how dumb blockchains are for anything personal data related because it means you can never delete any of your shit.

blockchain is literally free tech ... and its about to be raped by already established finance/market services

100 times this

That's not what he said. He said that people who called blockchain a new protocol are misinformed because blockchain relies on TCP/IP

What is state sharding

2 million t/x sec on a centralized system. Sick who cares that is nothing. TPS is a technical barrier that will be overcome; it has nothing to do with the intrinsic value of decentralized systems

HOLY SHIT ALL THAT REKT IN ONE ARTICLE LMAO

The internet is immutable by your logic?

ok buddy

Imagine my shock

Not even larping this dude is a closet queer and I may or may not have blew a load in his asshole.

OK, fine.
>Consider the many schemes that rest on the claim that blockchains are a distributed, universal world computer.
Which is exactly what many are
>That claim assumes that banks, which already use efficient systems to process millions of transactions per day, have reason to migrate to a markedly slower and less efficient single cryptocurrency.
The second statement doesn't follow from the first at all. Blockchain's status as a global computer doesn't assume anything about banks at all.
I suppose this is a generational thing but it's worth noting that he is profoundly fixated on the primacy of banks. Bank adoption is his litmus test for the legitimacy of cryptocurrencies, which demonstrates a profound naivete (or perhaps malicious misinterpretation) of the value of non-bank related forms of value. Ask Greek people who can only withdraw 200 Euros a day, or Venezuelan or Zimbabwean people whose runaway inflation has made local fiat worthless. whether they perceive any value in a global, bankless, super-regulatory form of fungible value.

The whole thing's pretty fucking dreary and I was going to go through it all, but I can't be bothered. The authors literally can't get their heads around the fact that, insofar as the currency aspect of cryptocurrency is relevant, people will want to use it specifically as a parallel economy to mainstream finance. Even if it doesn't work as well as legacy systems (and new structures of blockchain/DAG are suggesting that the book is by no means closed on this this) then people would STILL use it because they don't like the banks, or mainstream finance.

Waving away smart contracts is fucking retarded... Oh I can't even be bothered. Fuck the boomer faggots they can just be wrong, and all the sanctimonious boomers reading this ignorant shit and nodding along can be wrong too.

/this/ - same here, Blockchain is just a terrible tech for anything that is supposed to scale beyond a few users

It reads like Link fud.

OMG I cant believe I won ! good job WTC team !

So who?

Roubini is some sandnigger who is predicting that "global apocalypse will happen this year" every year since 15 years.
Like most perma-bears he was right once with 2008 and since then medias are sucking his dick.

Also economics is a pseudo science and economists are charlatans.

Welp, shows over boys. The dream is dead. Back to our wagecuck jobs.

We just got BTFO. I mean we’ve honestly sort of known it’s a libertarian dream. But if we look at the tech, it truly is shit. Remember when the ETH network got clogged up from cryptokitties? Yeah. I wish I sold end of Dec fuck me. FUCK.

It's another episode of "economist boomer who failed to predict the crypto boom desperately tries to restore his credibility and ego by rationalizing why he was not able to predict it".

The same boomer economist fucks crawled out of the woodwork after the bubble in 2013, too.

You realize laws adapt tech or are therefore not enforceable right?
Typically piracy laws are NEVER enforced, everyone here is a criminal in pure legal terms.

Oh, and for anyone taking the guy seriously. It's all a matter of what's trending at that particular moment.

>Bitcoin is going up
>Delusional bullish economists everywhere are in the media spotlight, predicting $50,000 Bitcoin by next month!

>Bitcoin is going down
>Delusional bearish economists everywhere are in the media spotlight, predicting the death of crypto forever and ever

Anyone who takes either of these fucks seriously doesn't just deserve poverty. They deserve swift death.

>non-bank related forms of value

Lets be honest, your employer will always pay you in fiat into a bank account until the end of days. We can't just adopt a system where no one pays any tax

Then once you get that fiat, you will always spend that fiat at big businesses (who will likely never accept unregulated volatile meme money). The imagined marketplace like world that drives crypto simply doesn't exist

Crypto NEEDS to fit in with our economic system or the economic system collapses.

Crypto sceptics present their arguments in the world the see today, which is much more likely that the dystopian world where people trade shitcoins for grilled rats that crypto fanatics present their arguments from.

If you need to imagine a non existent economic system to win your argument you may as well call crypto a cult.

Not worried.
The human torch will tell Doom to fuck himself while the thing pushes his shit in.
screencap this

>actually caring about the tech
Faggots, i'm here to make money and so far the market is dying
So it's a lose lose, crypto is not needed
It is interesting tech don't get me wrong, and may be implemented in some logistics but
once again, the world is running just fine with out it
Stop being butthurt faggots

Do you not understand what Request Network will do? Businesses can pay their employees in dollars or whatever they want. It will automatically be converted into whatever currency, fiat or Crypto, the employee wants. Tax will be taken out automatically and paid to the government in whatever form they want. The same will occur at the point of sale for sales tax. There are already solutions being built for any problem you can think of.

The world ran fine without cars. The world ran fine without computers. The world ran fine without the internet. Shall I go on?

Daily reminder that there are no good trips on biz
This newfag nigger didn’t even know about ETH flashcrash for example

>Ultimately, blockchain’s uses will be limited to specific, well-defined, and complex applications that require transparency and tamper-resistance more than they require speed – for example, communication with self-driving cars or drones. As for most of the coins, they are little different from railway stocks in the 1840s, which went bust when that bubble – like most bubbles – burst.

but this whole article misses the point completely.. crypto is about escaping from a dying economic model in which the centralised currency is robbing gentiles of their freedom and hard earned wealth

i wonder who wrote this...

>Nouriel Roubini was born in Istanbul, Turkey, to Iranian Jewish parents.

it's literally every single fucking time

threadly reminder that this guy is right
names are only used here as psychological weapons, used by con artists.

>crypto is about escaping from a dying economic model in which the centralised currency is robbing gentiles of their freedom and hard earned wealth
Yeah... and that is a pipedream as A. the tech doesn't work and B. fiat currencies aren't dying because unlike cryptos, they are backed with something - the power to levy taxes by the country that issues the currency.

The thing is that "blockchain technology" is indeed not something all that revolutionary.
People, especially the media, jumped on the "blockchain" thing when it was the "money by the people (literally) for the people" aspect that was the most important.
Bitcoin was meant as a global and digital version of "community tokens" whereas small communities agree to create their own currency and trade using it.

Blockchain is like the "Cloud", a buzzword. The Cloud is merely a bunch of servers owned by one (or more) company to distribute their storage and computing over, this is essentially the very basic of networking rebranded as "Cloud" and sold to others as some miracle solution to hosting issues.
Blockchain is essentially a p2p distributed database; distributed databases have been around for ages in financial institutions and big intranets, what is "new" here is the peer to peer part making said database open to internet instead of being limited to some intranet.

I think anyone who goes around raving about blockchain has missed to point Bitcoin was actually meant to make... That is, people can agree to create and trade a currency without governmental interference.

So basically Request Network is... FOREX?

This, exactly this!
The issue we have been facing is the pressure from whales and big mining farms who ended up turning themselves into the same 90% that was in charge of fiat...

>Roubini
Is this 2009?

People. Do people.

...

...

Those are some sick lines.

>That means if you want to setup a node (ie: a wallet) you will need to download the entire blockchain
You don't need to setup a node to use a wallet
You don't need the entire blockchain to setup a node.
I don't understand how can you comment on technology without knowing such simple details.

How is that better?
>http is not a new protocol because it relies on tcp/ip

Not that tcp/ip is mandatory - one can transact with sms

He's probably a coretard who bought into the whole "Everyone needs to be able to run a node!" thing

>A. the tech doesn't work

not true, not an argument

>B. fiat currencies aren't dying because unlike cryptos, they are backed with something - the power to levy taxes by the country that issues the currency.

not even remotely true, why feel the need the blindy repeat things that arent true and that you dont understand?

Are you seriously questioning the power of countries to tax their people? I mean, seriously?

I mean that's maybe a part of it. But its bigger than that and will have applications built on top of it. But the huge thing is connection of all money and fiat and the interchangeability of it. You can go to a coffee shop in Houston, Texas and pay for a coffee using Indian Rupees and the shop can receive US dollars. The shop can buy their import coffee supplier with US dollars and they can receive Bitcoin. The coffee supplier can pay their shipping company and farmers in Britain in Bitcoin and they can receive British Pounds. And all of this can happen quickly and on a private or public ledger that is immutable and trust less, while paying the appropriate income/sales taxes with minimal fees of less than 0.5% and even smaller as the network becomes more efficient. It will change the idea of currency exchange and accounting forever.

Countries can tax in many currencies and store the tax in whatever currencies they wish using Request Network.

literally who

Get off his dick will you

Finally someone set the record straight. Blockchain is fucking glorified Excel spreadsheet. Nothing more, nothing less.

>Are you seriously questioning the power of countries to tax their people?

i didn't say that at all you thick cunt, where did i even suggest that? nice reading comprehension retard. you suggest that currencies only have value because

>unlike cryptos, they are backed with something - the power to levy taxes by the country that issues the currency

but this is not at all what gives a fiat currency value at all and if you've read a single text book you would know that

Go back to plebbit faggot, seriously. I mean, seriously.

you guys do sound like brainwashed cult members or political party sheep to be honest. how many of you truly, and i mean truly care about blockchain technology or disrupting the banking system? what he says is true, blockchain tech and crypto are not solving any problems that couldnt be solved better and more efficiently through other means.i believe it will have some niche uses sure, i think currently crypto is mostly practical as a darknetmarket currency especially the privacy coins most have already adopted monero..

why is it so hard for you guys to admit you heard about people getting rich off bitcoin so what you are doing is speculating/gambling on these coins and trading to make profit even if it isnt going to be another bitcoin. theres nothing wrong with trying to play this like a sort of stock market game and try to make some money. the truth is the tech is interesting and used more as novelty than anything else, i mean look at those eth dapps who the fuck actually uses those? who knows maybe im wrong and somehow against all odds crypto will overthrow the banks, altough it would seem banking reform would be a much easier thing to achieve, and maybe we will find a use for the tech that is important, but i really doubt it. until then keep in mind that people that criticize blockchain/crypto arent necessarily part of some grand banking conspiracy, and just admit it when they have valid points

the sole reason for the existence of crypto is transferring money from stupid idiots to the early adaptors.
thats it.

That seems to be a major aspect of cryptos, yes

i sometimes wonder if you guys who say dumb fud like this are accidentally retarded or purposely retarded. it's difficult to surmise your intent when you say so much dumb shit.

i sometimes wonder if Satoshi was a true believer in this shit or if he just thought he could make some money. I actually lean towards the former cause how could he know this shit would take off, no one saw this coming