Bitcoin/Ethereum/cryptocurrencies

[Brownslave688]

That is the best argument I've heard, and it just doesn't hold up IMO.

FFS, thats a hot mess of nonsense.

Bitcoin costs more to mine than it is worth in dollars. This is economic theory on meth amphetamine.

Agreed.

Ok let me try to break down the extremely technical wording and insane looking algebra.


I can beans. To insure that those beans have the quality I expect and to trace them back should anything become contaminated (think romaine lettuce) I want to use blockchain to track my beans. I pay 5 cents per can to use the blockchain.


You own the necessary 1k coins to run a node for this blockchain network. By running a node you are verifying everything that happens on the blockchain. For doing this you will get a portion of those 5 cents paid per can. Of course these numbers are completely made up but you can see how it works.


Now take a beans manufacturer and add lays potatoes chips and nestle candy and Campbell’s soups, etc etc You see how this could add up very fast right?

 

[DriveInDriveOut]

View attachment 227479

 

[DriveInDriveOut]

Ok let me try to break down the extremely technical wording and insane looking algebra.


I can beans. To insure that those beans have the quality I expect and to trace them back should anything become contaminated (think romaine lettuce) I want to use blockchain to track my beans. I pay 5 cents per can to use the blockchain.


You own the necessary 1k coins to run a node for this blockchain network. By running a node you are verifying everything that happens on the blockchain. For doing this you will get a portion of those 5 cents paid per can. Of course these numbers are completely made up but you can see how it works.


Now take a beans manufacturer and add lays potatoes chips and nestle candy and Campbell’s soups, etc etc You see how this could add up very fast right?

Ok.
Why would someone/company not make their own crypto to accomplish the same goal? Why pay ridiculous prices to monitor lettuce?

Not to mention, it seems this is all based on theory of the cost to mine and verify.....

So, what will inevitable advances in quantum computing do to crypto?

 

[IVE GOTTA PACKAGE 4U]

View attachment 227480

 

[1989]

Ok let me try to break down the extremely technical wording and insane looking algebra.


I can beans. To insure that those beans have the quality I expect and to trace them back should anything become contaminated (think romaine lettuce) I want to use blockchain to track my beans. I pay 5 cents per can to use the blockchain.


You own the necessary 1k coins to run a node for this blockchain network. By running a node you are verifying everything that happens on the blockchain. For doing this you will get a portion of those 5 cents paid per can. Of course these numbers are completely made up but you can see how it works.


Now take a beans manufacturer and add lays potatoes chips and nestle candy and Campbell’s soups, etc etc You see how this could add up very fast right?

In that theory, once the food is consumed, doesn’t the chain end? So you will end up with zero.

 

[Brownslave688]

Ok.
Why would someone/company not make their own crypto to accomplish the same goal? Why pay ridiculous prices to monitor lettuce?

Not to mention, it seems this is all based on theory of the cost to mine and verify.....

So, what will inevitable advances in quantum computing do to crypto?

Quantum computing is certainly a concern somewhere down the road because of their ability to hack the keys. But it’s only theories right now as to when that’s going to occur and chances are the people that work on all of this will work it out also.

For some very large companies it may be worth it to create their own blockchain but for most it would be much too large a financial burden. Why do people pay ups to ship their packages when they could just drive it there themselves? Same concept.

 

[Brownslave688]

In that theory, once the food is consumed, doesn’t the chain end? So you will end up with zero.

No. You’re thinking about I piece of tracking like it’s one whole coin. You can fit thousands of cans of beans on 1 coin.

 

[1989]

No. You’re thinking about I piece of tracking like it’s one whole coin. You can fit thousands of cans of beans on 1 coin.

So 1 million cans of beans are produced today. All put on one coin. I buy the coin for $1,000. They get distributed, by June 300,000 are consumed. Wouldn’t my coin be worth $700 By December all 1 million are consumed. I’ve got zero.

 

[DriveInDriveOut]

Quantum computing is certainly a concern somewhere down the road because of their ability to hack the keys. But it’s only theories right now as to when that’s going to occur and chances are the people that work on all of this will work it out also.

For some very large companies it may be worth it to create their own blockchain but for most it would be much too large a financial burden. Why do people pay ups to ship their packages when they could just drive it there themselves? Same concept.

I gotta say, the technological possibilities that crypto bulls see as a positive are what I view as a negative.

The global trend in general seems to be consolidation. To suggest that a huge multinational would need an already established crypto seems kind of crazy. Their size could demand adoption of whatever they create.

If blockchain has legit staying power, I just don't see one of the current players being important in the long run.

 

[Brownslave688]

So 1 million cans of beans are produced today. All put on one coin. I buy the coin for $1,000. They get distributed, by June 300,000 are consumed. Wouldn’t my coin be worth $700 By December all 1 million are consumed. I’ve got zero.

Did you read any of what I wrote?


It’s too late and I’m
Headed to bed. These aren’t locked down numbers but more the math and a model of how it all works. Read these two articles. You can use the same math and theories for all blockchain business. Medical records, pharmaceuticals, you get the gist.

AMBERnomics Update: Dec 2018 – Ambrosus

 

[Brownslave688]

I gotta say, the technological possibilities that crypto bulls see as a positive are what I view as a negative.

The global trend in general seems to be consolidation. To suggest that a huge multinational would need an already established crypto seems kind of crazy. Their size could demand adoption of whatever they create.

If blockchain has legit staying power, I just don't see one of the current players being important in the long run.

The only problem with that is do we just trust the integrity of their own network completely controlled by them?

 

[DriveInDriveOut]

The only problem with that is do we just trust the integrity of their own network completely controlled by them?

I like where you're going with that, just seems a little idealistic. On a realistic level, I'm not sure there will be a choice.

Plenty of money to be made for now though. It's the Wild West no doubt about that.

 

[Brownslave688]

I like where you're going with that, just seems a little idealistic. On a realistic level, I'm not sure there will be a choice.

Plenty of money to be made for now though. It's the Wild West no doubt about that.

It COULD completely change the world we live in and mostly for the better I believe.


Now what will the powers that be allow to happen is the question.

Just like they’ve been doing everything they can to tank this market and buy low.

One of the problems with getting an accurate reading for crypto demand and therefore pricing is over the counter sales.

You could buy a crypto directly from me and I send it to you. That transaction doesn’t get logged anywhere on the exchanges so it’s not figured into the price.

Lots of people assume this what the large institutions have been doing all year. Buy it up over the counter so it appears demand is low therefore driving the price down. When they decide it’s time to profit and that volume hits the exchanges look out. Last December may look like child’s play.

 

[Faceplanted]

Ok.
Why would someone/company not make their own crypto to accomplish the same goal? Why pay ridiculous prices to monitor lettuce?

Not to mention, it seems this is all based on theory of the cost to mine and verify.....

So, what will inevitable advances in quantum computing do to crypto?

You don’t understand the meaning of trustless and decentralization.

Any company can run ibms blockchain, it’s literally a private database. True decentralization takes the power and “truth” away from say nestle, and instead puts all of this data on a public ledger.

The only way you can have multiple nodes or miners wasting time and energy to verify info and data is to give them a reward. This where the whole “crypto currency” idea comes from. To be honest, I will say I disagree with brownslave and I think crypto will never be a true “currency”. I think every currency besides bitcoin is useless. Crypto will never see adoption as a payment method for persons/retailers.

I do 100% believe that smart contracts and oricals will put the vast majority of attorney and finance people out of business

I also believe supply chain tokens... will see massive adoption. If I can use a supply chain token, provide 100% transparency on the item, and cut out my whole supply chain/billing/ordering department out and save money, that is a big deal. Also, some supply chain solutions offer a business encryption on the data. So say business X has a supply deal with business Z. They can encrypt the price data so computers can’t see, yet upload the farm to table data to show transparency.

For example, nonshim aka nds which is one of South Korea’s biggest supermarket chains has alresdy signed a deal to track every single piece of meat on the blockchain. This will include data down to which cow the cut came from, the vet health approval for the exact cow, as well as temperature data for the exact cut. This will all be 100% public accessible data. I have heard from my sources that because this nongshim beef tracking project was so sucessful, that the whole country is going to adopt this system within the next year. It cuts costs and provides transparency. The more “bundles” or transaction that are on the mainnet means more rewards to people running nodes which are storing/verifying/challenging information which results in demand for the tokens to run your own node.

 

[DriveInDriveOut]

You don’t understand the meaning of trustless and decentralization.

You don't understand the meaning of naive and idealistic.

 

[Faceplanted]

You don't understand the meaning of naive and idealistic.

Great counter argument.

I’m stupid fam. As of Today I’m literally down over 50% of my initial investment. Iv dca amb down to 16c or so, and my entry point on LINK has me up about 15%z. I was 100% wrong on my end of the year prediction of me doing better than the s&p500. Ill admit it. You guys were right, I was wrong. There have been delays and in general just a bear market. You guys got a win for the year. I waiting for another deposit to clear to buy more. I will keep wasting my money on some internet magic tokens of 1s and 0s that aren’t worth . I guarantee that if I don’t at least 2x my initial invent before the end of q1. Let’s see how all of this ages.

 

[DriveInDriveOut]

Great counter argument.

I’m stupid fam. As of Today I’m literally down over 50% of my initial investment. Iv dca amb down to 16c or so, and my entry point on LINK has me up about 15%z. I was 100% wrong on my end of the year prediction of me doing better than the s&p500. Ill admit it. You guys were right, I was wrong. There have been delays and in general just a bear market. You guys got a win for the year. I waiting for another deposit to clear to buy more. I will keep wasting my money on some internet magic tokens of 1s and 0s that aren’t worth . I guarantee that if I don’t at least 2x my initial invent before the end of q1. Let’s see how all of this ages.

Legit, I hope it all works out for you bro.

Good luck, you're gonna need it.

 

[Faceplanted]

It COULD completely change the world we live in and mostly for the better I believe.


Now what will the powers that be allow to happen is the question.

Just like they’ve been doing everything they can to tank this market and buy low.

One of the problems with getting an accurate reading for crypto demand and therefore pricing is over the counter sales.

You could buy a crypto directly from me and I send it to you. That transaction doesn’t get logged anywhere on the exchanges so it’s not figured into the price.

Lots of people assume this what the large institutions have been doing all year. Buy it up over the counter so it appears demand is low therefore driving the price down. When they decide it’s time to profit and that volume hits the exchanges look out. Last December may look like child’s play.

Your staying on top of it! Glad to see. 30 SIGNED partners. Smart cities in the works.

If we assume a 10% roi as acceptable,
If amb can produce 10000 bundles, without any speculation your looking at .7-1.0 per amb. That’s a 10x. Just the beginning. They are literally the only Anti hype company in crypto

 

[Faceplanted]

Legit, I hope it all works out for you bro.

Good luck, you're gonna need it.

Thanks. I honesty appreciate your kind words. If I were you I would look into the tech and the people behind it and dump at least 1k usd into it. Scared money don’t make no money.

 

[Brownslave688]

Lightning network Jan 2018

Lightning network December 2018

I know the “value” has tanked but legit companies have been working just as hard behind the scenes to make all of this a reality.