Current Events > Most cryptocurrencies will go to $0, but a few of them will change the world.

(+) Yeah! (+)

I used to think the whole thing was bullshit until I actually started doing research on the technology behind it.

Blockchain tech as a whole will absolutely revolutionize the banking industry, if not many other industries as well.

Most coins (like bitcoin) are useless garbage. They try to be "digital gold", which is what most people think about when they hear crypto. Beyond being blockchain-based, they offer little value.

There are a subclass of coins though that actually do something valuable. The most developed is Ethereum, and it is much more than just a currency. It is a software platform that allows people to create programs that move assets in a highly precise, secure, and auditable way. These programs require the payment of Ether (the virtual currency) to use them. Ether spent goes to the people who dedicate their computing power to processing transactions (providing an incentive for the system to keep going).

These programs essentially act like super advanced online vending machines. When someone puts Ether into the machine (the program), a series of transactions will take place. These transactions are visible to all, cannot be tampered with, and have the potential to be highly complex.

A good example (or bad depending on how you look at it) is a recent meme. Someone created "the world's first fully automated, transparent pyramid scheme". The way it worked is you paid Ether, and the money you put in immediately funnels up the pyramid and is equally split among the people above you. When people below you join, you get a portion of the Ether they put in.

For every person who joins, thousands of transactions take place as the program instantly divides and delivers the money to all participants. These types of instant, extremely high volume transactions would be impossible via conventional methods. The Ethereum platform is capable of processing thousands of highly-complex transactions with 100% accuracy. The transaction log is fully auditable, and the programs cannot be changed or tampered with. It will exist until the end of time.

We can obviously laugh about someone creating a pyramid scheme, but this is a simple example that demonstrates the potential for this technology to process complex transactions. It WILL be implemented into the modern financial system, and is a major innovation.

Say what you want about crypto, but the technology is here to stay. To completely dismiss all cryptocurrency shows an ignorance of the subject. This is like when the internet was created. You had a ton of stupid businesses that went to zero, but you had a few that ended up being Amazon and Google. The challenge is determining which is which.

Change the world. No. They wont.
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Wow it's like a list that people add to

revolutionary!

TheVipaGTS posted...

Change the world. No. They wont.

Didn't read the post.

During the dot com boom, people dismissed the internet as a fad lol. We are witnessing something similar.

Another example of an Ethereum program: in a bid to get people to turn off adblockers, a company is looking to allow advertising agencies pay people via crypto. As users browse the internet, their crypto wallet automatically fills up with currency when an ad appears. This represents tens of millions of tiny automated transactions happening simultaneously. Would be impossible with any existing payment platforms. We are just seeing people scratch the surface of what this technology can be used for.

I'm not gonna turn off my ad blocker for one ten hundredth of a cent

Complete_Idi0t posted...

I'm not gonna turn off my ad blocker for one ten hundredth of a cent

Irrelevant to the point of this topic. The fact that someone is now capable of processing literally millions of complex transactions instantly and automatically is unprecedented. This is a big innovation in the payment processing space.

TheVipaGTS posted...

Change the world. No. They wont.

"Bitcoin will never get above single digits."
"Bitcoin will never get above $100."
"Bitcoin will never go over $1000."
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And for the record, the payment amount will actually be tangible (a few hundred dollars per year is the estimate). Processing payments this way cuts out the middlemen like Google, saving advertisers money and letting them actually pay the person receiving the ads a decent amount. The details of their business model are beyond the scope of this topic though. The point is that it is possible, where it wouldn't have been before Ethereum was developed.

The opposing side isn't gonna argue with TC until crypto dips again to support their point
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https://m.imgur.com/gallery/4YGU0AN
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FightingGames posted...

The opposing side isn't gonna argue with TC until crypto dips again to support their point

I don't really care--this topic is a PSA lol. We will see where cryptocurrencies are in a few years. I wouldn't be surprised to see Bitcoin go below $1000, but whatever replaces it will be huge.

If they pay me a few hundred dollars a year to potentially buy their product and I pay them for the product then where does money for product come from

Blockchain definitely has a lot of potential and is being rolled out to replace functions internally for companies. I am kinda unsure if the "public" ones will be utilized or if companies will just develop internal systems.
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Complete_Idi0t posted...

If they pay me a few hundred dollars a year to potentially buy their product and I pay them for the product then where does money for product come from

-Advertisers buy the digital currency
-When an ad is viewed, currency is automatically deducted from the advertiser's account and split between the website it appears on, and the person who views it
-The website owner and person viewing the ads can sell the currency (back to more advertisers) who use it to buy more ads. It is a cycle.
-There is no product. It is built into your internet browser and can be turned on or off.

If there is no product then what the fuck are they advertising?

Complete_Idi0t posted...

If there is no product then what the fuck are they advertising?

Oh, I thought you meant that the browser add-on was something you had to pay for. Of course advertisers are advertising products. It is better that advertisers pay you instead of paying Google (whose ads just get blocked anyway).

But there is 1 google and billions of me. If they payed me 1 billionth of what they pay Google, how much would that be?

Please keep shilling in the general
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So much of what you said was bullshit that I don't even know where to start.
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Complete_Idi0t posted...

But there is 1 google and billions of me. If they payed me 1 billionth of what they pay Google, how much would that be?

the point of it is, you are getting paid to watch ads whereas before you need adblock to view most sites because of how many ads there are.

now it works as: advertiser > pays google > you google something, and if the advertiser is something google thinks your interested in, it shows the ad

it will work like: user willingly agrees to watch add, is given a small amount of crypto that they can sell back to advertisers, other people holding tokens like stock, a friend who also uses the browser that produces that token (it's called Brave, made by the guy who made firefox) etc

edit: Aion, a blockchain technology that's working towards a technology for blockchains to connect to eachother had an interesting investor for those who don't think blockchain technology is the next "revolution" in technology.

https://www.financemagnates.com/cryptocurrency/innovation/us-defence-contractor-moog-integrate-aions-blockchain/

10/10/17
as in this is a defence contracting company that saw applications of blockchain technology a few months ago. if a friggin defence contractor being interested in this kind of stuff doesn't make people realize it's more than they think it is, they are either woefully stupid or blissfully ignorant.
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Ulyanyx posted...

Complete_Idi0t posted...

But there is 1 google and billions of me. If they payed me 1 billionth of what they pay Google, how much would that be?

the point of it is, you are getting paid to watch ads whereas before you need adblock to view most sites because of how many ads there are.

now it works as: advertiser > pays google > you google something, and if the advertiser is something google thinks your interested in, it shows the ad

it will work like: user willingly agrees to watch add, is given a small amount of crypto that they can sell back to advertisers, other people holding tokens like stock, a friend who also uses the browser that produces that token (it's called Brave, made by the guy who made firefox) etc

So the future is swag bucks

Wallnuts17 posted...

So the future is swag bucks

yes except you don't fill surveys to get them
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Fishy posted...

TheVipaGTS posted...

Change the world. No. They wont.

"Bitcoin will never get above single digits."
"Bitcoin will never get above $100."
"Bitcoin will never go over $1000."

Bitcoin will never be anything more than a store of value at best similar to investing in gold. It's impractical given how slow it is for real world, wide spread adoption. It was first to market but it has all the issues that come with that title.
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Ulyanyx posted...

Complete_Idi0t posted...

But there is 1 google and billions of me. If they payed me 1 billionth of what they pay Google, how much would that be?

the point of it is, you are getting paid to watch ads whereas before you need adblock to view most sites because of how many ads there are.

now it works as: advertiser > pays google > you google something, and if the advertiser is something google thinks your interested in, it shows the ad

it will work like: user willingly agrees to watch add, is given a small amount of crypto that they can sell back to advertisers, other people holding tokens like stock, a friend who also uses the browser that produces that token (it's called Brave, made by the guy who made firefox) etc

edit: Aion, a blockchain technology that's working towards a technology for blockchains to connect to eachother had an interesting investor for those who don't think blockchain technology is the next "revolution" in technology.

https://www.financemagnates.com/cryptocurrency/innovation/us-defence-contractor-moog-integrate-aions-blockchain/

10/10/17
as in this is a defence contracting company that saw applications of blockchain technology a few months ago. if a friggin defence contractor being interested in this kind of stuff doesn't make people realize it's more than they think it is, they are either woefully stupid or blissfully ignorant.

If 'blockchain technology' turns into something huge and everyone uses it, it does. If it doesn't it doesn't. Why does it matter either way? Do you spend this much time digging up articles on every potential technological advancement that someone proposes?

Well crypto will continue to evolve too, and I honestly believe we're in the infancy stage of crypto, Bitcoin is already starting to change the conversation about how we understand money, the game changers might be coming in one or two years from now and just absolutely disrupt so many industries.
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Complete_Idi0t posted...

Ulyanyx posted...

Complete_Idi0t posted...

But there is 1 google and billions of me. If they payed me 1 billionth of what they pay Google, how much would that be?

the point of it is, you are getting paid to watch ads whereas before you need adblock to view most sites because of how many ads there are.

now it works as: advertiser > pays google > you google something, and if the advertiser is something google thinks your interested in, it shows the ad

it will work like: user willingly agrees to watch add, is given a small amount of crypto that they can sell back to advertisers, other people holding tokens like stock, a friend who also uses the browser that produces that token (it's called Brave, made by the guy who made firefox) etc

edit: Aion, a blockchain technology that's working towards a technology for blockchains to connect to eachother had an interesting investor for those who don't think blockchain technology is the next "revolution" in technology.

https://www.financemagnates.com/cryptocurrency/innovation/us-defence-contractor-moog-integrate-aions-blockchain/

10/10/17
as in this is a defence contracting company that saw applications of blockchain technology a few months ago. if a friggin defence contractor being interested in this kind of stuff doesn't make people realize it's more than they think it is, they are either woefully stupid or blissfully ignorant.

If 'blockchain technology' turns into something huge and everyone uses it, it does. If it doesn't it doesn't. Why does it matter either way? Do you spend this much time digging up articles on every potential technological advancement that someone proposes?

you don't understand this isn't an "if" it's a "when"
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so basically the internet will become a gigantic shovelware f2p phone game that begs you to watch ads every four seconds for coins.

Ah, I see, it's a religion. Got it.

Complete_Idi0t posted...

Ah, I see, it's a religion. Got it.

Yes

but the reason its like this is because people want to make quick, easy money by investing in it, which is why people are very emotional about cryptocurrency
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Sillyknees, you're an interesting fellow. First you were an anti-conspirwcy theorist. Remember that? Then you went into a feminist schtick. Now you're a crpyto wizard. Interesting fellow. I've always liked you since you wrecked conspiracy theorist on that board. Does that board still exst?
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Who is sillyknees? And P/C is pretty much dead.
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Isn't TC silly knees?
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