/biz/ is spitting out some pretty high quality content in response to all the coin drama
https://files.facepunch.com/forum/upload/249570/a4baa3e3-3f25-4e54-929c-c1e9e0bc3c3d/1517038003153.jpg
NOOOOOOOOOOOO
In all seriousness, does Cryptocurrency even have a chance?
I'm shocked; Nay, appalled that these internet cryptocurrencies collapsed.
There's more to cryptocurrency then Bitcoin. However, I think the technology behind it (Blockchain) is the far more exciting prospect. Cryptocurrency may have birthed it, but blockchain can do a lot more.
It's just the january dip
A chance at what?
It's currently valued ridiculously highly compared to where it stat for years, this is just the market slowing down. There was no way in hell that this could last forever.
https://files.facepunch.com/forum/upload/249570/28d062f8-f499-421a-b574-44d786c45a9a/image.png
That appreciation rate is ungodly
A chance at being an actual proper currency.
Good, maybe this colossal waste of energy can finally die now.
Seems like a good time to buy tbh
That was never an option. Currency works like ass garbage without a regulating force (i.e. a federal bank) there to prevent it from ping ponging like a stock.
I'm completely out of the loop on cryptocurrency. Can someone explain to me, in the same manner one would explain it to a complete drooling dumbass, how a digital currency went from an idea of an extremely covert currency, free of government snooping, to something so volatile and pricy that it's use as a currency has vanished, and instead manifested into something that one invests into similar to stocks?
It really depends. It can do many things, but it usually isn't the right tool.
Data storage? Use a normal database or a distributed one. They're more flexible and use less energy (= cheaper).
Transaction networking/distributed validation? Tangles are much better at that, since they don't have unbounded growth (but have unbounded throughput, which e.g. Bitcoin doesn't).
Messaging? Yeah that works, but a normal centralised or distributed chat client is much, much faster, cheaper and more reliable.
The one thing where they actually caught on is that Git and Hg base their hashes on previous history (so you can't change it without breaking everything linking to future items).
It's usually more of a problem than a benefit, really. Mercurial now has a(n experimental) system that lets you slowly clean up shared history. Git doesn't, so you better hope there isn't a huge problem with some old data in your repository at any point.
The bottom line is that, yes, it can be sorta useful for certain things, but so far I have not seen a single useful purpose where no better alternative already existed or was easy to make.
The one thing it is naturally and uniquely (still) good at is being a barely regulated value token where anyone who already holds it benefits from promoting it and loses from disencouraging its use. It functions like a snowball scam, essentially, but completely self-perpetuating instead of having a central authority that controls everything.
Still not as worthless as a Turkish Lira.
I just want GPUs to stop costing an arm, a leg and a kidney again.
I hate the cyrptocurrency, but I love these memes
Aw yeah, secondhand GPU’s for everyone.
This video (and channel) will never not be relevant anytime crypto is mentioned.
https://youtu.be/BkX2NAKFM5Q
Why are they pink?
Why not?
it's all part of bog's plan
Purest rage.
*inhales deeply*
but what can blockchain do more effectively than normal databases can?
What?
I wont be happy till every bitcoin farm ran by local assholes who took out a mortgage on gpus is bawling their eyes out for making 500$ with an 100k loan
blood
Absolutely. It is an incredibly hard system to hack that is also decentralized so security wise it's the best you'll get. The only hurdle is that no government wants to give up the power they have over their currency, Otherwise it's one of the safest and easily traded currencies right now besides the dollar.
I also don't like how people say "It's just 1s and 0s" because we abandoned materialistic wealth and decided to back our currency with debt more or less 50 years ago. Incanomics?
And no sane citizen wants them to give up that power either
Yes because the exciting economic policies of Zimbabwe is what the public wants. I'd rather the masses have control over the currency because some dipshit in a high office absolutely could crash the dollar because "why not lol". whereas people require massive coordination to do anything other than the norm.
https://youtu.be/KV5QlSgq7lg
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