Ether Tops Market Caps of Bank of America and Disney

[AbbotAle]

How is the technology game changing? We don't have payment systems? What is currently insecure that only a blockchain can make secure?

The secure aspect is not the whole picture.

If you or anyone else cannot see the immense value of being able to zap value around the world (instantly/quickly) without the need for a trusted third party as WE'RE HEADING FULL SPEED INTO A NEW DIGITAL REVOLUTION, you're all off your rockers...

 

[AbbotAle]

We don't have payment systems?

Yes we do but they're not globally operative.

Try sending $100 to a friend in Africa and see how you get on.

Then don't try, JUST DO IT, as in sending that same $100 via crypto. It will be there within a few mins (to an hour) and all it took was a few clicks.

Now imagine what the citizens of the world can do with a truly global payment system. Tack that on to such things as DeFi and the whole world opens up on a massive scale.

 

[DiceAreCast]

I do not see that need, no, why? We can send money around the world and the speed is plenty enough. Which business is stifled because of the current speed of payments?

The secure aspect is not the whole picture.

If you or anyone else cannot see the immense value of being able to zap value around the world (instantly/quickly) without the need for a trusted third party as WE'RE HEADING FULL SPEED INTO A NEW DIGITAL REVOLUTION, you're all off your rockers...

 

[DiceAreCast]

It works all the time, western union and a huge number of other, much cheaper services in developing countries. But I am sure you did not come here to tell me this trillion dollar balloon got inflated just to send a few bucks to my bro in Africa? What exactly opens up on a massive scale? See, this is exactly why this is nothing but a mania to intelligent human beings. Not one single argument so far convinces me that this is anything more than a greed bomb. Pompous terms chosen that describe nothing.

Yes we do but they're not globally operative.

Try sending $100 to a friend in Africa and see how you get on.

Then don't try, JUST DO IT, as in sending that same $100 via crypto. It will be there within a few mins (to an hour) and all it took was a few clicks.

Now imagine what the citizens of the world can do with a truly global payment system. Tack that on to such things as DeFi and the whole world opens up on a massive scale.

 

[ElCubano]

Or there is NOTHING coming whatsoever. Nothing innovative, it does not solve any pressing problems.

What if the average lemming has just lost hope in the future and government and then feels the depression of covid and then you give such person a few thousand for doing nothing. Guess where that money goes? Into lottery tickets. What if this is just one giant lottery driven by nothing else but pure greed. Because not a single website, not one single poster, not a single conversation has convinced me of the utility of any crypto whatsoever. If this was such revolutionary technology there must be at least a few intelligent beings that can explain a fantastic idea in 2 sentences or less.

Richard Faynman: "
If you can’t explain something in simple terms, you don’t understand it"

do you know what made the internet the internet we have today? The peripheral products that have spun out from it. Social media wasn’t even a thought, the iPhone wasn’t even a thought when the internet came out. Just those two things alone have made the internet what it is today not to mention the other products like apps etc. Think about that for one second to understand that Bitcoin itself just like the internet itself may not be the true value. Just because one can’t explain or see it does not mean there is not be something of value. Peace

 

[DiceAreCast]

Disagree. The internet was revolutionary because it connected people, even very early on through payments or text/voice/video chat. From the very beginning the internet made sense to be termed revolutionary. At least to me. I see nothing whatsoever of value with crypto currencies. I am trying hard. But so far no light bulb. And I feel you are in the same boat, else you would be able to name the extraordinary innovation and the problem it solves. I begin to think that nobody actually knows because nobody can explain it with a few words.

do you know what made the internet the internet we have today? The peripheral products that have spun out from it. Social media wasn’t even a thought, the iPhone wasn’t even a thought when the internet came out. Just those two things have made the internet what it is today. Think about that for one second to understand that Bitcoin itself just like the internet itself may not be the true value. Just because one can’t explain or see it does not mean there may be something you or I can’t understand in today’s world. Peace

 

[RedDuke]

It works all the time, western union and a huge number of other, much cheaper services in developing countries. But I am sure you did not come here to tell me this trillion dollar balloon got inflated just to send a few bucks to my bro in Africa? What exactly opens up on a massive scale? See, this is exactly why this is nothing but a mania to intelligent human beings. Not one single argument so far convinces me that this is anything more than a greed bomb. Pompous terms chosen that describe nothing.

it is not just greed but massive lie as well. We have no idea where the price is because of Tether and alike manipulation. Should have not been so stubborn and acknowledge that just because it is a kinda a “ponzi” one can participate and cash out

I am in the same boat with you. I fail to see what is so revolutionary about it. It is yet another payment network if you subscribe to philosophy about money traveling across the globe.

 

[ElCubano]

Disagree. The internet was revolutionary because it connected people, even very early on through payments or text/voice/video chat. From the very beginning the internet made sense to be termed revolutionary. At least to me. I see nothing whatsoever of value with crypto currencies. I am trying hard. But so far no light bulb. And I feel you are in the same boat, else you would be able to name the extraordinary innovation and the problem it solves. I begin to think that nobody actually knows because nobody can explain it with a few words.

the phone connected people, so. The value of the internet is not in what you say above, connecting people via voice chat etc. That’s definitely not the revolutionary part of the internet. The revolutionary part and true value of the internet came years later sorry to disagree with you. You and no one saw it because the value only really exploded with the IPhone and social media to name a few which came years later. You would have never in a million years seen that coming sorry. So with that being said you can say it’s revolutionary because you are looking in hindsight. It happens all the time in trading so I understand. Peace

Have a beautiful day amigo.

 

[Specterx]

How is the technology game changing? We don't have payment systems? What is currently insecure that only a blockchain can make secure?

No point overthinking it, nor is there any point attempting to value crypto on hard economic metrics - or really much of anything else. Crypto tokens are a mixture of novelty/toy, reserve asset, speculative football and lifestyle statement - not unlike art, fine wines, jewelry/rare gems, rare cars or other collectables, but with orders of magnitude more liquidity than any of the above.

Most you can say is that the crypto space overall will keep inflating so long as central banks keep running the presses white-hot, which is to say, for the foreseeable future.

 

[NoahA]

The true test is coming. When regulators either try to ban or heavily regulate crypto, we will see how many hang on tight.

Already now I'm scratching my head trying to figure out why is ETH so strong while BTC so weak. Sure, the bulls say ETH is just catching up, but it seems like the FOMO crowd is just jumping on the next coin. So my position has always been, if it stops going up, how many will stick around? Its only a trading and "get rich quick" vehicle. The store of value crap will not hold water when value can very quickly disappear at the stoke of a pen.

My bet is the government comes in, uses the technology that someone else developed, implement it into their own coin, and then say something like "these crypots are acting too much like currency and we need to rein them in for the health of the US financial market". The government had power to force people to stay home. The CDC had power to prevent people from getting evicted. I don't see how a bunch of guys crying "decentralized currency cannot be touched" will win.