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GOLD! Web 3.0 (Ethereum) is happening, and most people have no idea what it even is.

Discussion in 'Business Models, Niches, Industries' started by parkerscott, May 6, 2017.

  1. GoGetter24
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    It does if your plan is to get rich.

    According to Wikipedia, Dogecoin - Wikipedia currently has a $2 billion market cap. That is retardation.

    And I'm literally laughing out loud after scrolling up and seeing DOGE on that pay-in-crypto sign.

    This is going to pan out something like the 2000 tech bubble. You'll get tech companies that were actually making something of value, like Microsoft, Apple, PayPal, (and even DeMarcos limo service) coming out of it fine.

    And the 99% junk that are merely byproducts of the bubble will get vaporized.
    Takes a lot of restraint to avoid putting money in that 99%, as even Isaac Newton learned, but it's necessary if you want to get rich instead of making some other clowns rich.

     
    Last edited: Mar 13, 2018
  2. Coalission
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    Coalission Gold Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    Wow, what a riveting analogy I’ve never heard before, almost as good as the one I heard earlier today about it being like the tulip bubble. Can you go more into detail on this?

    As expected, you’re learning as you go. First, it was that cryptocurrencies will end up as worthless bits on a hard drive. Now, you’re saying blockchain and cryptocurrencies will change the world like the internet did, but not all companies building on this new technology will survive, the way they didn’t survive the dot-com bubble (amazing insight).

    Can’t wait until your next opinion, I’ll be here waiting on the edge of my seat.
     
  3. Coalission
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    Coalission Gold Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    Always a concern with new technologies, but it doesn't seem like that's the route they're taking, considering the US Government Accountability Office just added it to their Strategic Plan for 2018-2023, along with Genome Editing, Artificial Intelligence, Quantum Information Science, and Brain/Augmented Reality (no Beanie Babies or Segways?):

    https://www.gao.gov/assets/700/690262.pdf

    [​IMG]

    I don't know if they've checked in with GoGetter24 though, so this can all change.
     
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  5. LifeTransformer
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  6. Hyrum
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    How so? You mean to say no white guy has ever done a lame rap about capitalism before? Or the stock market? And Ponzi / Pump & Dump schemes haven't occurred prior to cryptocurrencies? Why are these things only a problem with blockchain based investments?
     
  7. LifeTransformer
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    Cringe factor.
     
  8. Hyrum
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    And the other raps aren't cringe-worthy? Or what makes the #hodlgang rap more cringe-worthy than the capitalist or stock market raps? Let's face it, in this day and age you can find a lame youtube video about anything, so using that as a basis to disregard an entire industry is a little disingenuous.
     
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  9. LifeTransformer
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    What are you talking about? :rofl:

    In my opinion, that video is solely responsible for the recent drop in the Bitcoin price.

    I guess you've not read a single post of mine in this thread...
     
  10. Kingmaker
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    It was actually this video, get it right:


    View: https://www.youtube.com/watch?v=nAMRFDs9iOs
     
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  11. LifeTransformer
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    Thanks for clearing that up @Kingmaker, much appreciated. :thumbsup:

    I heard on the news that a couple got into a fight over whether or not they should sell their Bitcoin today. It was reported to be the first instance of #hodlgang violence. Happily no one was injured.
     
  12. DVU
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    Genuine question and I might just lack the info or am missing something.

    Anyway, if let's say some crypto goes mainstream and has a "stable" value, what will stop "criminals" from doing their business with it.

    I need a kilo of the white, I just wire the dealer the crypto. And if it's going to be decentralized, meaning no one controls it, that can be done on a much larger scale.

    Anyone care to provide some insight?
     
  13. LifeTransformer
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    Nothing. But, what stops them doing it with old fashioned cash or gold?
     
  14. rogue synthetic
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    rogue synthetic * Not actually Rutger Hauer Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    This was a big selling point on cryptography for some forward-thinkers back in the late 80s and the 90s.

    Neal Stephenson even wrote a couple of novels around that time that involved cryptocurrencies destroying nation-states by preventing them from collecting taxes.

    Then again, there's also this.
     
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  15. Parker P
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    Sorry to disrupt the main debate going on in this thread right now, but has anyone here started developing any DApps? It's an area that I, along with probably a good amount of other people on this forum, am interested in. It would be cool if someone started the first progress thread, or any thread for that matter, related to DApp development.
     
  16. Kingmaker
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    Nothing, but it includes a high amount of risky moves in order to pull off.

    Transfering the money(if found, you would probably be asked what is the purpose)
    Having to physically meet the other person
    Storing it
    You cant always just go and buy things with physical cash
    And a number of others

    If this did to happen and there is nothing to regulate it, it would be like if the banks and financial regulatory institutions would close their eyes and you could just send money around in any amounts.

    That just seems like the countries would lose a lot of control
     
  18. GoGetter24
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    No honest person thinks it's just as easy to do contraband ecommerce with non-crypto methods. It removes one of two legs of difficulty from the process. That's why it took off.

    Outside of speculation, the only large scale use of crypto for actual commerce has been contraband. Simply because the more convenient standard online payment methods weren't usable due to having to provide ID.

    Still waiting for my landlord to accept DOGE. Or even not to laugh when I explain what it is.
     
  19. LifeTransformer
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    Here are a couple of interesting articles relating to the dark web side of things:

    Bitcoin Is Falling Out of Favor on the Dark Web

    Study Suggests 25 Percent of Bitcoin Users Are Associated With Illegal ...

    They're just relating to Bitcoin.

    There was also one that showed that as adoption has increased, the number of illicit transactions has fallen. But I can't seem to find that I'm afraid.

    There will always be a negative side to any new technology. Is 3D printing inherently bad because it can be used to make weapons? (Just an example). There are always trade offs, and cryptocurrencies have also been used for a lot of good too.
     
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  20. GoGetter24
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    3D printing is a great play. No one is calling 3D printing a bullshit investment, because it's almost impossible to. There's even companies working on printing human organ tissue. If you needed a new organ printed, how much would you be willing to pay? Everything and then some. They should be getting the investment, not this junk.

    Of course, investing in 3D printing technology just isn't the same level of ease and excitement and follow the crowd.

    There's a big list of compelling human needs, and crypto currencies & tokens aren't one of them.
     
  21. nitrousflame
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    But @GoGetter24, my landlord won't accept 3D prints!
     
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  22. LifeTransformer
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    Where did I say it wasn't? I Merely used it as an example of a technology that can be used for bad as well as good.

    3D bio-printing is an amazing technology / 3D printed weapons not so good.

    (I'm sure some will argue otherwise on that point, I'm not getting into a gun control debate).

    If you don't believe there is a need for cryptocurrencies/tokens, then fair enough. Tell that to the people of Zimbabwe and Venezuela.

    Bitcoin is worth $13,500 in Zimbabwe right now

    “This is not a matter of politics. This is a matter of survival”

    Cryptocurrencies have also facilitated some great charitable work too.

    https://cointelegraph.com/news/vitalik-buterin-donates-24-million-in-ether-to-anti-aging-research

    Cryptocurrencies were also used for donations direct to Mexico when an earthquake hit:

    Help Mexico recover: donate with Bitcoin, Ether, Ripple — Steemit
     
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  23. GoGetter24
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    Yes, because like cryptocurrency, no normal person considers them money.

    I feel this is a good example of, as DeMarco pointed out in his books, someone being more concerned with being right than being rich. All these things you say look like rebuttals, but aren't, and it's a waste of time getting sucked into your little game of being technically right. Hopefully you'll be able to pay your rent with that technical rightness in a couple of years, instead of having to move back in with your parents.

    So hopefully your "LifeTransformer" isn't like Obama's "Change" (versus Progress). You have nothing honest or insightful to say, so I'm removing your steam of text from my sight.

    Anyway I only dropped into this farce thread again to post those hilarious videos, but I got sucked back in. I'll exit. All I can say to everyone participating in this charade is: please don't gamble more than you can afford to lose.
     
  24. Kingmaker
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    If merchants start accepting it along with fiat, why wouldn't they consider it money?

    And here's 9 reasons for the merchants to do just that:
    [​IMG]
     
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  25. Coalission
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    [​IMG]
     
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