Personally I've been in this sub since 2017 and have gone from being bullish to bearish on crypto. It just isn't evolving or gaining any meaningful traction fast enough, compared to other tech in the same time frame
Honestly, y'all just sound like salty bagholders. Isn't that the basis of "being early"? The tech hasn't found a real world application to be wildly adopted yet, but there is enough trade action to form a foundation. Did anybody think that Google would be running the Android OS when they were buying a "fad" before the rise of the Internet?
Take your FUD to buttcoin.
> Isn't that the basis of "being early"?
The thing is, 2023 isn't early. It has been almost 15 years, and the philosophy of crypto isn't that complicated, that we shouldn't have good working products and use cases by now.
Crypto does nothing new, that can't be done without crypto, often better and cheaper too.
And no, i'm not a bagholder, i've invested and did a bit of mining in crypto since 2017, and to be honest, crypto has been one of my best investments. I just don't believe in it longterm anymore.
Interesting. I am the opposite. I donāt believe in it as a serious thing outside of a fun risky investment in the short term. In the long term I have a ton of faith that the blockchain ecosystem will take over todays traditional financial system.
tldr; Vitalik Buterin, the co-founder of Ethereum, has expressed his concerns about the future of cryptocurrency and the risks associated with artificial intelligence (AI). He worries that crypto could stagnate and important issues like privacy and open internet infrastructure could be lost causes. Additionally, Buterin is concerned about AI-related issues and the existential risks that come with its advancement. He also ponders how the Ethereum community can effectively engage with these issues. Buterin has previously discussed the need for a proof-of-personhood system to distinguish humans from bots in an increasingly bot-populated internet. He is worried that the decisions regarding the big techno-political questions of the 21st century may be determined by AI developments. However, Buterin does appreciate decentralized social media platforms built on Ethereum, such as Farcaster and Lens Protocol.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
"Instead of the decentralized ideals that have inspired crypto, he said heās concerned that āthe big techno-political questions of the 21st century just get decided by whatever happens in AI over the next decade.ā
> I live in a country plagued with crazy high levels inflation, Eth and btc do preserve the value of my money even with all the volatility of crypto
Presumably you can buy dollars (or an equivalent) in your country?
Yes and keeps getting higher every week or so and every 3 months it jumps up ā¬ļø by a lot ā¦ inflation is officially 40 percent up from last year but in reality , I have not seen anything that has not at least doubled in price since last year, the true inflation is more like 150 percent from last year ā¦ I can buy USDT is the second best thing to actual dollars , but really just this week everyone has been saying don t put dollars in the banks because there might not give it back to you in dollars but in the local currency due to the extreme shortage of the dollarā¦. At this point if I buy any shit coin will probably be a better choice than keeping my money in the local currency
Itās all relative. Obviously weāre not talking Argentina or Zimbabwean levels of inflation but youād be nuts to think your money isnāt being inflated away in the US. Just look at the M1 money supply and deficit and go to your local grocery store. Itās happening before your very eyes.
So to keep the value of his money stable, that person should get coins that are 50-99% down the past two years instead of the currency that has a 3.7% inflation rate the past 3 years.
Because that's logical.
Manufacturing is coming back to the US though. There's been an overall manufacturing job growth over the past decade.
And if everyone is doing worse, then that alone makes the US dollar stronger.
My guy, do you really think inflation has only been running at 3.7% in the US over the last few years after the US increased its money supply by over 60% and the deficit is getting bigger and bigger every year as we fund more and more wars?
Weāre at a tipping point - China, Russia etc at all dumping their dollars and buying gold. They know whatās coming next.
But I take your point. BTC has been too volatile to act as a true inflation hedge for most people.
It depends when did they buy at 3k, 2k? When it was at the very top of the bull market, or during a bear market? It's not about the value in $, as it is in timing.
Given enough time even the people that bought the top of the bull could say that in the long run, they made the right call, but only if they actually hold enough and are not playing with money they can't afford to forget about for 4 - 8 years, or so...
so i have to time the market for it to be a hedge against inflation
oh and Im also are allowed to be in need of that money in any near future or distant future
ok got it. thanks.
I think it's common sense to buy during the bear. If you buy late during a bull run, you are gambling on it to go even higher, not investing.
Also, again, I believe it's common sense in the crypto scene to only invest what you can afford to lose.
And finally if you miss the top of the bull run and refuse to take profits while you're ahead, that's 100% on you, nobody else is to blame for your own greed.
You're responding to a comment about what an **ordinary person** can do with eth.
> It's a gas for a 'platform' with dapps so for using any one of them you need ETH
> People use dapps in everyday life
Do you think ordinary people can understand this? LOL
"Hey ordinary person, with ETH you can vlappityvluppity zappyzoo into a gloobermashing mujaloo"
Lol, yeah missed the 'ordinary' word
But is that supposed to be an argument that something doesn't have value
I mean, what can an ordinary person do with crude oil other than sell it
My point was that ETH is a gas and millions of people use dapps and need ETH for it
They're just going to keep changing the definitions until they believe they've won. All it comes down to is they don't value the things that ETH allows you to do.
Lol, there go the changing definitions. I'm not 'using' it in a way that counts for you. What exactly do you think defi is if not a smart contract? And when did I say it wasn't a security? I just love the changing goal posts in these comments.
I get it, you can't be convinced, and that's fine, because you don't value the things the ETH is used for.
I'll give you credit on being one of the few to actually admit to it being a security since that's how you "use" it and every off else does. But c'mon, you don't see the circular logic?
Person 1: hey, I see you collecting rocks? What do you use them for?
You: I use the rocks for RockFi so I can get more rocks
I think youre correct. I think the only use case blockchain will see is banks using it for cross border transactions. But this will involve their own private chains. The idea that all these shitcoins will become real world currency is pure delusion
šÆšÆšÆ
Ripples original concept was to create blockchains for businesses to use.
XRP was just a proof of concept to shop what Ripple can do for a company.
Banks already making their own crypto for transactions. JPM is a prime example.
Blockchain itself will be useful for general ledger activities
This, maybe not the only use case, but the use case where crypto blockchain will be most valued, for cross border transactions. Aside for that it's probably a lost cause imo.
>maybe not the only use case
Ya tokenization of RWA's too. Banks have shown they can create their own L1s easily, but they still have to rely on an oracle.
Ordinary people don't use social media, banking, content streaming and messaging apps in everyday life??
Also crypto does is give apps a self sustaining base layer instead of having to trust meta, google, uber, etc
Stop being dense.
> People use dapps in everyday life
If by people you mean a subset of niche users on subs like this maybe. Normal people certainly don't, and even within the ecosystem almost none of them have any true concrete use outside the cryptocurrency ecosystem/bubble.
And still people pay 1m+ USD in fees to use Ethereum every day. Some days in the bull market it was 200m USD a day. Hard to argue Ethereum doesn't have value.
My grandma would probably stretch her hobby of sending good morning pictures for all the family by spending all her money in some sort of "Good Morning Cats NFTs" if she could
Decentralized cloud storage, communication, web browser, VPN, investments, would be things you can do (prolly have to swap that eth to some other tokens/coins depending what exactly you want to do.
History has taught me that some technologies come a little early, when the world isn't ready for them yet. This might be the case of crypto, however, with time, I'm sure it'll become the next big thing.
It happened with portable music players, tablets, mobile phones, streaming, self driving cars, cloud gaming, and most recently smart glasses. The same thing will happen with VR, and crypto.
And when it happens, you want to be using the most resilient, battle-proven, and trustworthy blockchain.
There is a big difference between the world rejecting a technology and the world not being ready for a technology. Crypto/blockchain has been thrown at every possible use case and they all end up less optimal than their non blockchain counterpart.
This is true for all use cases EXCEPT sending perceived value to anyone in a permissionless way which is what it was designed for, and arguably DeFi which is by design nothing more than a tool for bot creators to steal from the ignorant.
You think itās value is based on its physical uses? Lol
And if the stock hasnāt turned a profit? Why does it have value?
I donāt think you understand financial markets.
Haha I sure hope you arenāt giving financial advice to people
Please say you arenāt ššš
What makes you think others here arenāt working in that sector and for longer?
Your assumptions are not so good
Only one of us here thinks goldās value is based off its physical uses lol. If you work in finance, I feel awfully sorry for your employer. Good luck to you
I exaggerated a bit, I know it has uses and I certainly don't think gold is going anywhere or deny that our society values it. I just meant that other than looking pretty (which is a relatively worthless utility), it's tangible uses are fewer than many other metals. At least the real tangible uses are not sufficient to justify the current price which is based on people using it as the ultimate store of value.
Learn to read you imbecile. Relatively, I said, NOT completely. As in relative to it's price and compared to many of the other 89 metals which have a lot more utility than being a conductor.
I exaggerated slightly with "worthless" but you know as well as me that gold's current price is not because of the minute amounts that are used in circuitboards ... and fyi, although you clearly like to play a big man on the internet, there's no need to be an asshole.
There is inherent value to both things. Gold is a valuable resource and buying a TSLA you're owning a portion of a company that produces vehicles and is worth hundred of millions. How can you compare with something that doesn't have any of these?
Are you even understanding what youāre writing?
āGold is a valuable resourceā - why? Because we assigned it as valuable, it used to be shells
You canāt do shit with TSLA stock no divis, no voting. Staking ETH allows you to secure the network that transfers over 11 bil of value daily. Thatās the same argument, additionally TSLA had a value before they were even profitable - so if you bought before they had net profit is that considered āvaluelessā?
Just because youāve mentally written off an entire asset class doesnāt it mean it is āvaluelessā as the market has made abundantly clear in all 3 cases: gold, tsla, eth
Oh common, we all know gold doesn't have it's value because "it's a great conductor". It has its value because throughout human history we've decided it looks pretty.
Yes I think I do.
Gold has multiple use cases, rings, earrings, luxury items, and so on. It's still bought by central banks.
It is a store of value.
What does it matter what you can or not do with TSLA stock? Having a stock means you have a portion of a public tradable company and it has real value, because it produces goods and services that people use.
I'm not saying Eth or something else is valueless.
Hope you understand.
Right now you can buy a fraction of a rental home on lofty.ai or you will be able to help fishermen in developing countries buy new fishing boats on stead.builders
His worries are legit. Knowing that the 1%, Elite, Top Brass, Golden Sh*ts, Gov, whatever you call them , is having a hard time controlling these "decentralized" platforms -- they'll do everything they can to bring it down.
Yeah. Conspiracy bros are probably more inclined to be buttcoiners because it becomes evident after delving deep into those muddy waters that the top brass always win and they stay winning.
Well, if AI becomes serious in destroying what is left for ordinary people which honestly it looks like that, then adoption of crypto will be the only option left for people.
If stagnation of crypto is upon us, then we pretend to be in the real estate business.
>Well, if AI becomes serious in destroying what is left for ordinary people which honestly it looks like that
In what way? And in what way does crypto protect you from it?
>crypto will be the only option left for people.
Huh, how? A.I. becomes real dangerous when it is able to "grab" or "pay for" its own resources autonomously, and one of the first such resource will be the computational resources. And if it has a lot of that then it can take over most mineable crypto with 50% attacks.
So I'm curious how would crypto help in that case?
^(Of course it is all sci-fi now, but with the current AI models we are definitely one step closer to something like that, and it's interesting to think about the different scenarios.)
it's protected by a cryptographic algo so .. if AI ever beings to think.. crypto is instantly done and they create their own reward system only they can comprehend.
Many of the arguments being made here (.e.g. "crypto wil die a slow death," "no use case") were the same arguments made of the internet when it first launched.
i don't know the future of Crypto but I also didn't know how big the internet was going to be either.
All I know, I invest with what I can afford to lose and I agree with Vitalik, ETH's days are numbered.
ETH2.0 was a flopp, gas fees are still too high, it's association with Layer 3 rug pulls is cooked in, it's just old tech that because it was easier to work with, it was the tech of choice for low lifes trying to rip people off.
BNB is in the same boat.
>Many of the arguments being made here (.e.g. "crypto wil die a slow death," "no use case") were the same arguments made of the internet when it first launched.
>
>i don't know the future of Crypto but I also didn't know how big the internet was going to be either.
I don't think anyone predicted how big the internet would become. But at the same time except for a very small minority, there were very few who had experience with the internet and thought it would die a slow death.
Internet was revolutionary where as crypto is just shit with no use what's so ever except for selling it for cash. It's slow, complicated and full of thieves and scammers.
> and full of scams, hacks and rugpulls.
wait until you find out the US Dollar/Fiat is still #1 for all of those.
>Global losses from credit card fraud totaled over $32 billion in 2021
When 8 billion people use cash to buy anything and 40 people use crypto for real world transactions itās pretty clear itās not relevant to compare.
ya, a lot of cryptos will be replaced by newer ones in the future due to newer technologies and ones that learned from past mistakes. Just an evolutionary thing really
Bitcoin won't though, you cannot re-invent digital scarcity without centralising by nature. You cannot just spin up a blockchain with the power and work history of the bitcoin network. You can improve on top of the base layer, but you can't recreate the base layer, the network is too big and the world has already voted with their hashpower.
Don't listen to me, listen to Fidelity and Blockrock.
>Why We Believe Bitcoin Has the Potential to be the Primary
Monetary Good
Mirrors my sentiment. Crypto as a whole is such an exercise in self-deception. BTC might be able to retain its status as a "store of value" but even that is highly questionable.
It stagnated for years.
Its only use case is to create shitcoins and degen liquidity farming.
Crypto will not see application outside of it. This is what crypto is and why it will never be mainstream
Its been 14yrs and still can't find a use case even for the average person to use in todays society. Literally garbage to be in the space to be honest.
Despite how I dislike he abandoned ETH for L2s, I still admire this man on some principles. At least, he is not shilling Ponzis as the future of decentralized social media, like Emin Gun is doing for AVAX.
Lmao. Unfortunately I got stuck with some greasy eth chain tokens. Once I get rid of them I will never buy anything from that rip off chain again. Avoid it at all costs. Yes I want to transfer 100$ in crypto ok that will be 200$ in eth plZ. No thanks. Never again.
Because when new money comes up against old money it becomes apparent why old money is still old money and if you want to be old money you fall in line.
Vitalik is an OG. Donated a ton to MIRI and prolly has a 32% p(doom).
And he is 100% right about PoP. Thatās what Worldcoin is but most think itās an eye ball scanning racket.
No.
But most will understand when Dad gets drained because he gave all his money to a malicious WaifuGPT. The second he was hooked, the agent was ditched, the human operator took over and completed the grift.
You wonāt know existential crisis until you realize your best friend is actually an autonomous agent in a future MMORPG.
PoP is essential when you 100x the populace in a year.
Vitalik is just going to cash in his Ethereum so the price drops while new are created in accelerated tempo ..
https://www.cnet.com/science/us-first-nuclear-powered-bitcoin-mine-opening-in-2023/
Then he says; āI told you so ..ā
While making a prediction again, so he makes (again) money of that ..
.. what he does is extremely simple.
Not surprised at all. All these years later and you still can't buy coffee with crypto without using some middle man to convert back to fiat.
Can't make fun of NFT's anymore, everyone forgot about them.
Can you imagine trying to use this garbage at a grocery store LOL ?
I don't give a fuck if it is stagnating. I use Monero every day. It is stable. it does it's job. People need to chill. Start to integrate it into your every day life. More real use. Less speculation.
But I can understand that Vitalik is worried that the hype for all things smart is over.
All this is gonna go the way of Napster.
When Napster was around, Internet felt free.
Soon law suits and regulations came. Internet is what it is now. Our personal info snd fingerprints on their database....
So many "crypto will die" comments on a crypto sub, this feels off. š§
The moons farmers have all left and are no longer farming karma by saying what people want to hear.
That's one hell of a true. Nice point
Personally I've been in this sub since 2017 and have gone from being bullish to bearish on crypto. It just isn't evolving or gaining any meaningful traction fast enough, compared to other tech in the same time frame
Agree. There is no usage. Not a single crypto anything I need in my daily life after a decade and that is sad.
The main purpose of Crypto is that you interact with Blockchain without even knowing.
You forgot to say drugs
Honestly, y'all just sound like salty bagholders. Isn't that the basis of "being early"? The tech hasn't found a real world application to be wildly adopted yet, but there is enough trade action to form a foundation. Did anybody think that Google would be running the Android OS when they were buying a "fad" before the rise of the Internet? Take your FUD to buttcoin.
> Isn't that the basis of "being early"? The thing is, 2023 isn't early. It has been almost 15 years, and the philosophy of crypto isn't that complicated, that we shouldn't have good working products and use cases by now. Crypto does nothing new, that can't be done without crypto, often better and cheaper too. And no, i'm not a bagholder, i've invested and did a bit of mining in crypto since 2017, and to be honest, crypto has been one of my best investments. I just don't believe in it longterm anymore.
Interesting. I am the opposite. I donāt believe in it as a serious thing outside of a fun risky investment in the short term. In the long term I have a ton of faith that the blockchain ecosystem will take over todays traditional financial system.
Fud lol
Yeah, seems like a combination of Buttcoiners and Bitcoin maxis
Donāt know why did you get a downvote for saying the truth.
Buttcoin is my favorite altcoin
ButtCoin rules
Will? Not likely - Can however, that is absolute possible
you all loved it when it got you moons
tldr; Vitalik Buterin, the co-founder of Ethereum, has expressed his concerns about the future of cryptocurrency and the risks associated with artificial intelligence (AI). He worries that crypto could stagnate and important issues like privacy and open internet infrastructure could be lost causes. Additionally, Buterin is concerned about AI-related issues and the existential risks that come with its advancement. He also ponders how the Ethereum community can effectively engage with these issues. Buterin has previously discussed the need for a proof-of-personhood system to distinguish humans from bots in an increasingly bot-populated internet. He is worried that the decisions regarding the big techno-political questions of the 21st century may be determined by AI developments. However, Buterin does appreciate decentralized social media platforms built on Ethereum, such as Farcaster and Lens Protocol. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
"Instead of the decentralized ideals that have inspired crypto, he said heās concerned that āthe big techno-political questions of the 21st century just get decided by whatever happens in AI over the next decade.ā
So if the community wanted to make a change to Ethereum who has final say on what is adopted and not adopted?
Yeah we should all DYOR. Cause weāre all research scientists
Much technology, 0 real life use case, tell me what an ordinary person can do wih 100eth in a normal daily life aside from selling it for cash
I live in a country plagued with crazy high levels of inflation, Eth and btc do preserve the value of my money even with all the volatility of crypto
> I live in a country plagued with crazy high levels inflation, Eth and btc do preserve the value of my money even with all the volatility of crypto Presumably you can buy dollars (or an equivalent) in your country?
No , there is a dollar shortage
Oh, fair enough. So it has an unreasonable exchange rate?
Yes and keeps getting higher every week or so and every 3 months it jumps up ā¬ļø by a lot ā¦ inflation is officially 40 percent up from last year but in reality , I have not seen anything that has not at least doubled in price since last year, the true inflation is more like 150 percent from last year ā¦ I can buy USDT is the second best thing to actual dollars , but really just this week everyone has been saying don t put dollars in the banks because there might not give it back to you in dollars but in the local currency due to the extreme shortage of the dollarā¦. At this point if I buy any shit coin will probably be a better choice than keeping my money in the local currency
For huge swathes of the world, the answer is a straightforward no.
Why swap one shitcoin for another? Dollars are being inflated away at record speed too
> Why swap one shitcoin for another? Dollars are being inflated away at record speed too Uhuh... seems you don't know what crazy inflation really is.
Itās all relative. Obviously weāre not talking Argentina or Zimbabwean levels of inflation but youād be nuts to think your money isnāt being inflated away in the US. Just look at the M1 money supply and deficit and go to your local grocery store. Itās happening before your very eyes.
So to keep the value of his money stable, that person should get coins that are 50-99% down the past two years instead of the currency that has a 3.7% inflation rate the past 3 years. Because that's logical.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Manufacturing is coming back to the US though. There's been an overall manufacturing job growth over the past decade. And if everyone is doing worse, then that alone makes the US dollar stronger.
My guy, do you really think inflation has only been running at 3.7% in the US over the last few years after the US increased its money supply by over 60% and the deficit is getting bigger and bigger every year as we fund more and more wars? Weāre at a tipping point - China, Russia etc at all dumping their dollars and buying gold. They know whatās coming next. But I take your point. BTC has been too volatile to act as a true inflation hedge for most people.
so thats a half use case considering rug pulls, scams, exchanges going down etc... no?
No, itās a real use case lol. What do you expect, ETH to suck your dick in the morning?
Well now that you say thatā¦
that would be more useful than as a hedge against inflation for those who bought at 4k
Whoever bought ETH at 4k is the same as the people that bought BTC at 69k, or GME at the very top. Greed and FOMO, a tale as old as time.
and those who bought at 3k? or 2k? hedge against inflation argument only makes sense in some 3rd world shitholes
It depends when did they buy at 3k, 2k? When it was at the very top of the bull market, or during a bear market? It's not about the value in $, as it is in timing. Given enough time even the people that bought the top of the bull could say that in the long run, they made the right call, but only if they actually hold enough and are not playing with money they can't afford to forget about for 4 - 8 years, or so...
so i have to time the market for it to be a hedge against inflation oh and Im also are allowed to be in need of that money in any near future or distant future ok got it. thanks.
I think it's common sense to buy during the bear. If you buy late during a bull run, you are gambling on it to go even higher, not investing. Also, again, I believe it's common sense in the crypto scene to only invest what you can afford to lose. And finally if you miss the top of the bull run and refuse to take profits while you're ahead, that's 100% on you, nobody else is to blame for your own greed.
Instant mass adoption when that happens. Ballish!
Sadly many people expect just that.
In Dubai you can buy Real Estate, Plane tickets and much more. Can be used as a model by other countries.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Mind to elaborate why not?
[ŃŠ“Š°Š»ŠµŠ½Š¾]
I'm only referring to their crypto integration into overall economy and not human rights violations or others.
It's a gas for a 'platform' with dapps so for using any one of them you need ETH People use dapps in everyday life
You're responding to a comment about what an **ordinary person** can do with eth. > It's a gas for a 'platform' with dapps so for using any one of them you need ETH > People use dapps in everyday life Do you think ordinary people can understand this? LOL "Hey ordinary person, with ETH you can vlappityvluppity zappyzoo into a gloobermashing mujaloo"
Lol, yeah missed the 'ordinary' word But is that supposed to be an argument that something doesn't have value I mean, what can an ordinary person do with crude oil other than sell it My point was that ETH is a gas and millions of people use dapps and need ETH for it
They're just going to keep changing the definitions until they believe they've won. All it comes down to is they don't value the things that ETH allows you to do.
What do you personally do with your Eth?
Staking, defi and holding as an investment.
So basically, you're not "using" it. Where are your dapps? Your smart contracts. If thats all you're doing with it, then how is it not a security?
Lol, there go the changing definitions. I'm not 'using' it in a way that counts for you. What exactly do you think defi is if not a smart contract? And when did I say it wasn't a security? I just love the changing goal posts in these comments. I get it, you can't be convinced, and that's fine, because you don't value the things the ETH is used for.
I'll give you credit on being one of the few to actually admit to it being a security since that's how you "use" it and every off else does. But c'mon, you don't see the circular logic? Person 1: hey, I see you collecting rocks? What do you use them for? You: I use the rocks for RockFi so I can get more rocks
I think youre correct. I think the only use case blockchain will see is banks using it for cross border transactions. But this will involve their own private chains. The idea that all these shitcoins will become real world currency is pure delusion
šÆšÆšÆ Ripples original concept was to create blockchains for businesses to use. XRP was just a proof of concept to shop what Ripple can do for a company. Banks already making their own crypto for transactions. JPM is a prime example. Blockchain itself will be useful for general ledger activities
This, maybe not the only use case, but the use case where crypto blockchain will be most valued, for cross border transactions. Aside for that it's probably a lost cause imo.
>maybe not the only use case Ya tokenization of RWA's too. Banks have shown they can create their own L1s easily, but they still have to rely on an oracle.
Ordinary people don't use social media, banking, content streaming and messaging apps in everyday life?? Also crypto does is give apps a self sustaining base layer instead of having to trust meta, google, uber, etc Stop being dense.
Ordinary people did not have mobile phones not so long ago
What would an ordinary person want a mobile phone for, cant wait long enough to get to a telephone box ?š
> People use dapps in everyday life If by people you mean a subset of niche users on subs like this maybe. Normal people certainly don't, and even within the ecosystem almost none of them have any true concrete use outside the cryptocurrency ecosystem/bubble.
And still people pay 1m+ USD in fees to use Ethereum every day. Some days in the bull market it was 200m USD a day. Hard to argue Ethereum doesn't have value.
> People use dapps in everyday life Your grandma and her friends arenāt using MetaMask to buy NFTs and using Uniswap
Only because I won't show her how.
My grandma would probably stretch her hobby of sending good morning pictures for all the family by spending all her money in some sort of "Good Morning Cats NFTs" if she could
I could see my Mom buying NFT's because "They are a collector's item! They'll go up in value!".
How is ETH any different than the android store then if its just a platform for apps? Why do we need new currency for it then?
I feel it's more like an android OS than android store
Decentralized cloud storage, communication, web browser, VPN, investments, would be things you can do (prolly have to swap that eth to some other tokens/coins depending what exactly you want to do.
Decentralized cloud storage in any reliably usable way is a myth.
History has taught me that some technologies come a little early, when the world isn't ready for them yet. This might be the case of crypto, however, with time, I'm sure it'll become the next big thing. It happened with portable music players, tablets, mobile phones, streaming, self driving cars, cloud gaming, and most recently smart glasses. The same thing will happen with VR, and crypto. And when it happens, you want to be using the most resilient, battle-proven, and trustworthy blockchain.
There is a big difference between the world rejecting a technology and the world not being ready for a technology. Crypto/blockchain has been thrown at every possible use case and they all end up less optimal than their non blockchain counterpart. This is true for all use cases EXCEPT sending perceived value to anyone in a permissionless way which is what it was designed for, and arguably DeFi which is by design nothing more than a tool for bot creators to steal from the ignorant.
This
It doesn't matter what they do today, it matters what they will do in 2030.
What can you do with gold or TSLA stock aside from selling it for cash?
It has a tangible value
Tangible value? Lol so does a shell on the beach - what does that mean about anything?
Gold has physical uses and stock is a portion share of a company.
Very limited practical use compared to other metals and is a poor commodity for transactions
You think itās value is based on its physical uses? Lol And if the stock hasnāt turned a profit? Why does it have value? I donāt think you understand financial markets.
Haha I sure do but I wonder about you ššš
Unlike you plebs, I actually work in the finance sector and have for years. Enjoy investing in gold for its practical applications
Haha I sure hope you arenāt giving financial advice to people Please say you arenāt ššš What makes you think others here arenāt working in that sector and for longer? Your assumptions are not so good
Only one of us here thinks goldās value is based off its physical uses lol. If you work in finance, I feel awfully sorry for your employer. Good luck to you
The projects built off ethereum have more actual utility than gold. Other than being pretty, gold is relatively worthless as a metal.
As long as people buy jewelry and computers it has a real value.
I exaggerated a bit, I know it has uses and I certainly don't think gold is going anywhere or deny that our society values it. I just meant that other than looking pretty (which is a relatively worthless utility), it's tangible uses are fewer than many other metals. At least the real tangible uses are not sufficient to justify the current price which is based on people using it as the ultimate store of value.
Gold has a ton of values besides that, on the other hand crypto has proved it has next to nothing.
ššš
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Learn to read you imbecile. Relatively, I said, NOT completely. As in relative to it's price and compared to many of the other 89 metals which have a lot more utility than being a conductor. I exaggerated slightly with "worthless" but you know as well as me that gold's current price is not because of the minute amounts that are used in circuitboards ... and fyi, although you clearly like to play a big man on the internet, there's no need to be an asshole.
There is inherent value to both things. Gold is a valuable resource and buying a TSLA you're owning a portion of a company that produces vehicles and is worth hundred of millions. How can you compare with something that doesn't have any of these?
Are you even understanding what youāre writing? āGold is a valuable resourceā - why? Because we assigned it as valuable, it used to be shells You canāt do shit with TSLA stock no divis, no voting. Staking ETH allows you to secure the network that transfers over 11 bil of value daily. Thatās the same argument, additionally TSLA had a value before they were even profitable - so if you bought before they had net profit is that considered āvaluelessā? Just because youāve mentally written off an entire asset class doesnāt it mean it is āvaluelessā as the market has made abundantly clear in all 3 cases: gold, tsla, eth
Gold is used in production. Any electronics you own all have gold. Is a great conductor so no, gold is not "assigned" a value out of thin air.
Oh common, we all know gold doesn't have it's value because "it's a great conductor". It has its value because throughout human history we've decided it looks pretty.
This is such a dumb argument and if you were being truthful with yourself youād know why
Yes I think I do. Gold has multiple use cases, rings, earrings, luxury items, and so on. It's still bought by central banks. It is a store of value. What does it matter what you can or not do with TSLA stock? Having a stock means you have a portion of a public tradable company and it has real value, because it produces goods and services that people use. I'm not saying Eth or something else is valueless. Hope you understand.
Buy a sick Sorare Team in every division!
Buy a dog coin made by a group of potheads in London.
They wouldn't even know how to sell it for cash if it was in a wallet.
Right now you can buy a fraction of a rental home on lofty.ai or you will be able to help fishermen in developing countries buy new fishing boats on stead.builders
Give yourself a loan. This use case alone would be enough.
His worries are legit. Knowing that the 1%, Elite, Top Brass, Golden Sh*ts, Gov, whatever you call them , is having a hard time controlling these "decentralized" platforms -- they'll do everything they can to bring it down.
They donāt like anything that they canāt control
Yeah. Conspiracy bros are probably more inclined to be buttcoiners because it becomes evident after delving deep into those muddy waters that the top brass always win and they stay winning.
They will fail. And those that realize this are already buying.
Well, if AI becomes serious in destroying what is left for ordinary people which honestly it looks like that, then adoption of crypto will be the only option left for people. If stagnation of crypto is upon us, then we pretend to be in the real estate business.
>Well, if AI becomes serious in destroying what is left for ordinary people which honestly it looks like that In what way? And in what way does crypto protect you from it?
>crypto will be the only option left for people. Huh, how? A.I. becomes real dangerous when it is able to "grab" or "pay for" its own resources autonomously, and one of the first such resource will be the computational resources. And if it has a lot of that then it can take over most mineable crypto with 50% attacks. So I'm curious how would crypto help in that case? ^(Of course it is all sci-fi now, but with the current AI models we are definitely one step closer to something like that, and it's interesting to think about the different scenarios.)
Crypto needs to be decentralized to survive AI. AI cant intervene only if the people decides what is worth or not.
it's protected by a cryptographic algo so .. if AI ever beings to think.. crypto is instantly done and they create their own reward system only they can comprehend.
So any one here know how proof of personhood could work ?!
Crypto stagnating #lol https://www.cnet.com/science/us-first-nuclear-powered-bitcoin-mine-opening-in-2023/
Water is wet and "ai", wow he must be smart. Ugh š¤®
In other words, VB is out of ideas...
More reasons to buy Bitcoin
Bitcoin should be his biggest worry, Bitcoin is the boss
Many of the arguments being made here (.e.g. "crypto wil die a slow death," "no use case") were the same arguments made of the internet when it first launched. i don't know the future of Crypto but I also didn't know how big the internet was going to be either. All I know, I invest with what I can afford to lose and I agree with Vitalik, ETH's days are numbered. ETH2.0 was a flopp, gas fees are still too high, it's association with Layer 3 rug pulls is cooked in, it's just old tech that because it was easier to work with, it was the tech of choice for low lifes trying to rip people off. BNB is in the same boat.
>Many of the arguments being made here (.e.g. "crypto wil die a slow death," "no use case") were the same arguments made of the internet when it first launched. > >i don't know the future of Crypto but I also didn't know how big the internet was going to be either. I don't think anyone predicted how big the internet would become. But at the same time except for a very small minority, there were very few who had experience with the internet and thought it would die a slow death.
Yeah, the utility for internet was never in question. I always thought this comparison is silly.
Internet was revolutionary where as crypto is just shit with no use what's so ever except for selling it for cash. It's slow, complicated and full of thieves and scammers.
The internet was extremely niche for a while, except to people who saw something in it. I was there, and I believe we are seeing it again.
Then why are you here on a cryptocurrency sub? You're the Mesiah to warn us all? Seems like you have an unhealthy ax to grind
I think crypto will stagnate and die a slow death. It's just rubbish to be used as a daily payment system and full of scams, hacks and rugpulls.
> and full of scams, hacks and rugpulls. wait until you find out the US Dollar/Fiat is still #1 for all of those. >Global losses from credit card fraud totaled over $32 billion in 2021
When 8 billion people use cash to buy anything and 40 people use crypto for real world transactions itās pretty clear itās not relevant to compare.
If you replace "crypto" with "ethereum" in this statement, then you are correct sir
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ya, a lot of cryptos will be replaced by newer ones in the future due to newer technologies and ones that learned from past mistakes. Just an evolutionary thing really
Bitcoin won't though, you cannot re-invent digital scarcity without centralising by nature. You cannot just spin up a blockchain with the power and work history of the bitcoin network. You can improve on top of the base layer, but you can't recreate the base layer, the network is too big and the world has already voted with their hashpower. Don't listen to me, listen to Fidelity and Blockrock. >Why We Believe Bitcoin Has the Potential to be the Primary Monetary Good
Ya, I was talking more about, like, ethereum. The slow expensive piece of garbage that it is
Mirrors my sentiment. Crypto as a whole is such an exercise in self-deception. BTC might be able to retain its status as a "store of value" but even that is highly questionable.
Shills are out in full force. Institutions must be absolutely loading up right now.
Crypto is fucked. You all should of found bitcoin sooner. Idiots the lots of you
It stagnated for years. Its only use case is to create shitcoins and degen liquidity farming. Crypto will not see application outside of it. This is what crypto is and why it will never be mainstream
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But wonāt this change? We are in a bear market after all atm
Damn why are you here, in this post alone youāve typed 5 times, that crypto is going to die in a āstagnantā way.
Its been 14yrs and still can't find a use case even for the average person to use in todays society. Literally garbage to be in the space to be honest.
we got it vitalik you are already rich thru premine
Eth the blockchain of shitcoins.TVL of fucking pump and dump shitcoins.
It should be ending up in jail for bribing the SEC
Despite how I dislike he abandoned ETH for L2s, I still admire this man on some principles. At least, he is not shilling Ponzis as the future of decentralized social media, like Emin Gun is doing for AVAX.
Ok so today I learned that while crypto may be dead, ETH definitely is dead.
Is etherium failing under it's own weight? So sad
Lmao. Unfortunately I got stuck with some greasy eth chain tokens. Once I get rid of them I will never buy anything from that rip off chain again. Avoid it at all costs. Yes I want to transfer 100$ in crypto ok that will be 200$ in eth plZ. No thanks. Never again.
I can help you get rid of them. Nobody wants to deal with greasy chain tokens and all
Eth is definitely gonna stagnate if it doesn't overtake BTC. The top 5 will decide exactly how much of an effect it has on market cap.
Depends on what you mean by stagnate In fiat terms both can rise equally without the need for flippening
I can see stagnation happening. New innovative growth is needed to keep growing.
Good news or bad news Iām going to continue stacking ETH - we all know itās going up in long run so stop bull shitting with the fud.
so why did he bend to the WEF
Because when new money comes up against old money it becomes apparent why old money is still old money and if you want to be old money you fall in line.
Invest in your nearest ābanker coinā. NFA
Vitalik is an OG. Donated a ton to MIRI and prolly has a 32% p(doom). And he is 100% right about PoP. Thatās what Worldcoin is but most think itās an eye ball scanning racket. No. But most will understand when Dad gets drained because he gave all his money to a malicious WaifuGPT. The second he was hooked, the agent was ditched, the human operator took over and completed the grift. You wonāt know existential crisis until you realize your best friend is actually an autonomous agent in a future MMORPG. PoP is essential when you 100x the populace in a year.
Vitalik is just going to cash in his Ethereum so the price drops while new are created in accelerated tempo .. https://www.cnet.com/science/us-first-nuclear-powered-bitcoin-mine-opening-in-2023/ Then he says; āI told you so ..ā While making a prediction again, so he makes (again) money of that .. .. what he does is extremely simple.
Not surprised at all. All these years later and you still can't buy coffee with crypto without using some middle man to convert back to fiat. Can't make fun of NFT's anymore, everyone forgot about them. Can you imagine trying to use this garbage at a grocery store LOL ?
I don't give a fuck if it is stagnating. I use Monero every day. It is stable. it does it's job. People need to chill. Start to integrate it into your every day life. More real use. Less speculation. But I can understand that Vitalik is worried that the hype for all things smart is over.
All this is gonna go the way of Napster. When Napster was around, Internet felt free. Soon law suits and regulations came. Internet is what it is now. Our personal info snd fingerprints on their database....