What doe?

What doe IQfy think about crypto "currencies" from a tech perspective?
Is there any real point/advantage on running apps on "decentralized" blockchains or is it mostly hype?

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  1. 1 month ago
    Anonymous

    >Is there any real point/advantage on running apps on "decentralized" blockchains
    Bs but crypto currencies still got value. However I only use XMR.

  2. 1 month ago
    Anonymous

    >decentralized
    Read: not yet centralized

  3. 1 month ago
    Anonymous

    Do people even talk about this? I thought all of them died in 22/23. AI is the next big thing now.

    • 1 month ago
      Anonymous

      You know the saying, "Another born every minute"?

  4. 1 month ago
    Anonymous

    The only cryptos that actually have utility is
    bitcoin - Old timer, obviously the pioneer and recognized as an actual currency by certain states.
    monero - genuinely used as a form of currency to trade goods
    stablecoins (from many chains) - storing USD in a blockchain

    that's it.

    • 1 month ago
      Anonymous

      While I agree with this answer, one thing that it leaves out is smart contracts. While most of NFTs and what happens in the "web3 world" is just gambling to put it mildly, there are legitimate uses for tracking ownership in an immutable way. Large companies spend tons of money and resources on auditing. For example, a logistics company needs to keep track of items moving in and out of its inventory. Currently this can be accomplished with something like a database, but a database is inherently mutable so an auditor whether it be a firm or the government cannot simply trust that everything in the database is accurate. All the data it holds must be verified. This is where a blockchain platform could come in and allow companies to track the movement of assets in a way where you can trust that the data hasn't been cooked essentially because you can verify that the data prior to chain head hasn't been tampered with due to the cryptography employed. Now, that's not to say that there isn't a way to cook this data also, I'm far from an expert in the actual low level cryptography that these chains use. This is just one valid use case for smart contracts that I could see. Another important note is that this sort of audit log functionality will likely not be on public chains like ethereum or solana. I see the scenario being a company like Amazon with dozens of data centers across the world deploying a private blockchain where the blockchain is essentially a consensus mechanism for an audit log with the immutable characteristics making it more trustworthy than a traditional database.

      I guess what I'm getting at is most cryptocurrencies are snake oil outside of a few pillars (monero, btc, and stable coins), but there are interesting use cases for blockchain technology generally as a consensus/trust mechanism.

      • 1 month ago
        Anonymous

        I mean you answered the question: crypto is good for whenever you need digital chain of custody. That's its use case.

      • 1 month ago
        Anonymous

        Blockchain, stablecoins and synthetic derivatives, smart contracts, one-way proofs on top of all of it, etc are impressive. Not just a curiosity, world-changingly impressive.

        But yeah the whole space has been fricked by hype and scams so that's not gonna get any attention and the average normie lost $17 in 2021 on "dogshitshibapumprocketcoin12 (Ticker: SHIT$$$)" so they're basically mindbroken and unable to address the technology any more.

    • 1 month ago
      Anonymous

      Bitcoin has a little more utility, but you're pretty much right. It's terrible for conducting actual transactions, but Monero makes up for that. Bitcoin's real value is that it's deflationary, rather than inflationary. It solves the weak money problem that took off after we took the Dollar off the gold standard back in '71.

    • 1 month ago
      Anonymous

      Bitcoin has a little more utility, but you're pretty much right. It's terrible for conducting actual transactions, but Monero makes up for that. Bitcoin's real value is that it's deflationary, rather than inflationary. It solves the weak money problem that took off after we took the Dollar off the gold standard back in '71.

      Monero is digital Cash. The rest are pointless.

      bitcoin is essential for monero though. Bitcoin is here to say, to say it will be outlawed is asking for an extremely improbable scenario. Monero will probably get banned long in the future, HOWEVER it will retain its value in the fact that the chain will keep working through TOR and I2P nodes that cannot be shutdown. if monero cannot be exchanged for cash, it will always be available for an atomic swap with something legal like bitcoin. So, monero banned? No problem, only with an intermediary.

      $ -> BTC -> XMR
      XMR -> BTC - $

      The monero-bitcoin pipeline is essential.

      • 1 month ago
        Anonymous

        >Bitcoin is here to say
        here to stay*

      • 1 month ago
        Anonymous

        Monero is the only one that can be reasonably used as a currency with the shilling that that cryptoguys assign to Bitcoin.

        Bitcoin is taken more of a gold-tier asset. You invest in it either as a hedge or to make money. Etherum, Chainlink, etc., they do... something which is where they derive value.

        Still, if you want boomer security just invest in metals. They'll inevitably run out and the resource war will begin

        You can't really buy anything with monero though

        • 1 month ago
          Anonymous

          >You can't really buy anything with monero though
          this is poor bait or you're incredibly naive to think there are no services or things to be bought with XMR.

          • 1 month ago
            Anonymous

            >asking a very basic question is bait
            Yeah, you're really going to convince people to abandon fiat for monero by being an angry contrarian.

          • 1 month ago
            Anonymous

            >Yeah, you're really going to convince people to abandon fiat for monero by being an angry contrarian.
            Nobody is saying that, the fact that you even interpreted that is laughable. You lack reading comprehension and you want everyone to bow down to your moronation. You aren't worth engaging with if you genuinely think there is a realistic possibility that you can just do everything with monero for some magical reason. You have no idea of anything between 0 and 1. It's either JUST 0, or JUST 1 for your feeble toddler mind. If you think people are advocating monero it's like
            >OOHOHOHO HOW AM I GOING TO GET MY NEETBUX IN XMR?? moron!! HOW AM I GOING TO PAY MY TAXES WITH MONERO!!! FRICK UUUU!
            Nobody said that bud, monero is digital cash that requires fiat. Yes there will be a trail, but after which there will be plausible deniability and... privacy... like fricking cash dawg. You proably don't even know what Local Bitcoins or Local Monero is because you live in Bangalore and all you do is shit and have no idea what to do except pretend to know things you don't.

          • 1 month ago
            Anonymous

            >angry moron sounds
            This is boring. Either post something useful or frick off.

          • 1 month ago
            Anonymous

            >angry moron sounds
            This is boring. Either post something useful or frick off.

            >denies reality that monero is used to buy things
            >makes an unrealistic goalpost of replacing fiat with monero completely or it's bust

          • 1 month ago
            Anonymous

            So it's a fringe currency for some fringe purchases. Okay cool

          • 1 month ago
            Anonymous

            >buying a VPS anonymously is a fringe purpose
            right right, why should I listen to you again?

          • 1 month ago
            Anonymous

            > listen to you
            what in god's name are you on about?

      • 1 month ago
        Anonymous

        >bitcoin is essential for monero though
        No you can easily get XMR with fiat.

      • 1 month ago
        Anonymous

        Agree. Although Litecoin would be cheaper in terms of fees.

    • 1 month ago
      Anonymous

      https://i.imgur.com/yzTq0vI.jpg

      What doe IQfy think about crypto "currencies" from a tech perspective?
      Is there any real point/advantage on running apps on "decentralized" blockchains or is it mostly hype?

      [...]
      [...]
      bitcoin is essential for monero though. Bitcoin is here to say, to say it will be outlawed is asking for an extremely improbable scenario. Monero will probably get banned long in the future, HOWEVER it will retain its value in the fact that the chain will keep working through TOR and I2P nodes that cannot be shutdown. if monero cannot be exchanged for cash, it will always be available for an atomic swap with something legal like bitcoin. So, monero banned? No problem, only with an intermediary.

      $ -> BTC -> XMR
      XMR -> BTC - $

      The monero-bitcoin pipeline is essential.

      crypto is necessary if you want to completely be anonymous to pay for something, usually most of the time it's illegal shit or buying something to enable you to do illegal shit. Buying physical items with crypto is a meme because you actually want there to be a record so you can dispute it for scam artists. Outside of that there are room for maybe 3 currencies in the world and it creates the byproduct of braindead frog posting Black folk who still think they can invent the next big coin by posting shitty unfunny memes

  5. 1 month ago
    Anonymous

    Well they can have anonymity like money but the flexibility like a credit card and can be used to stop the government from printing money from the ether. Everything else is just "you wouldn't screenshot an image" or "let me sell you a digital item like it's scarce" cope.

  6. 1 month ago
    Anonymous

    This questions belong to

    [...]

    However I will answear that anyway.

    Most cryptocurrencies out there are neither private or decentralised. Transparent blockchain is a straight path to protocol-level censorship, while hashing algorithms requiring powerfull hardware centralise mining only to those places of the world that can afford upgrading it every other day (the abnormous amounts of copium that bitcoin maxies inhale will not change that). Monero is somewhat different from that and if you want to buy something questionable online, you should consider using it if you can. But in general, most cryptocurrencies are kinda useless onto themself and are very different from what they were supposed to be. Pretty much everything that people try to do with blockchain apps can be done with regular apps and a database as well.

    • 1 month ago
      Anonymous

      This is a tech related question, not a business and finance question. It quite clearly belongs here.

      I'm aware that the financial aspects are being captured and contained by the controllers of the system.
      >Pretty much everything that people try to do with blockchain apps can be done with regular apps and a database as well.
      This is basically what I was wondering about. The only potential use I see might be to try and eliminate big tech control from certain types of applications.

      • 1 month ago
        Anonymous

        >This is a tech related question
        No, it's not. Bitcoin is just one string of code multiplied by 21 million. People invented scarcity, and a speculative market, surrounding what's basically a string of code. Gambling addicts and scammers took advantage of easy money.
        "Blockchain" is not a real technology. It's a joke buzzword just like NFTs and AI. Nothing of value has been made in the scene since Ethereum. It's been stagnant for decades. And even if all of it disappeared tomorrow, it wouldn't change a thing on the way we live in the 21st century.

        • 1 month ago
          Anonymous

          >asking specifically about the tech
          >not not tech related
          Are you actually moronic?

          • 1 month ago
            Anonymous

            Good morning, sir. Yes. I like the BITCOIN I'm in it for the TECH sir. I'm in it for the TECH.

          • 1 month ago
            Anonymous

            >hey, what's the opinion on the tech aspect of crypto on this tech board?
            >THIS IS BUSINESS AND FINANCE!!!!
            common man..

          • 1 month ago
            Anonymous

            >"IQfy - Business & Finance" is IQfy's imageboard for the discussion of business and finance, and cryptocurrencies such as Bitcoin and Dogecoin
            >and cryptocurrencies such as Bitcoin
            >and cryptocurrencies
            Sorry your kind is too small brained to discuss crypto in a meaningful way beyond price speculation. I mean, it was the main reason why you were all given the boot from this board to begin with. None of your kind is interested in the "tech." That's what jeets always say.
            Those using crypto buy XMR and keep it as life savings/money stash outside the threeletter handrubbers. There's nothing else about crypto to discuss beyond that in terms of "tech."

          • 1 month ago
            Anonymous

            obviously crypo has IQfy and IQfy aspects to it
            this thread isn't about making money

          • 1 month ago
            Anonymous

            The people who cared about the IQfy aspects of it have left long time ago. It's all high profile con artists, or scum-of-the-earth scammers.
            Again, Ethereum was the last meaningful improvement to blockchain technology. What Bitcoin envisioned itself to be, but couldn't due to the knowledge limitation of the time. It's been ten years since then and people have been stuck generating pump-and-dump schemes in the network. God gracefully smiled upon us and gave us Monero a couple years before shit hit the fan.

            That's all there is to it. No, really. Bitcoin is the proof of concept. CryptoNote was the framework for un-traceability. Monero was the transparency of said framework. And then Ethereum came to shit on everything else and turn it into a casino.

          • 1 month ago
            Anonymous

            Thanks for you perspective.
            So do you think it's pretty much just doomed to remain a vehicle for gambling and certain kinds of private transactions?

          • 1 month ago
            Anonymous

            Absolutely. It's the only thing people are interested on it nowadays. Wasn't the big talk in 2021/2022 enough proof? Doggy coins and monkey pics? What about the ICO bubble in 2017? Fricking Dentacoin?
            Blockchain peaked with Monero. Nothing else has come forward to replace it yet, has it? If you're interested in the "tech" aspect of it, you just stick with XMR and that's it.

          • 1 month ago
            Anonymous

            The fact that doge coin, a literally meme joke for adolescents is valued more than monero says enough.

          • 1 month ago
            Anonymous

            All fair points. I just wonder of all the mania and noise isn't obfuscating something real underneath. Guess most people here would say "no" for the most part.

          • 1 month ago
            Anonymous

            No we just trade XMR and don't talk about it.

      • 1 month ago
        Anonymous

        >eliminate big tech control from certain types of applications.
        In this context, bitcoin and most crypto-currencies out there (apart from Monero) are cure worse than the disease. If you use financial services provided by corporations like paypal,apple pay etc. the only people aware of the transaction are you, your customer/merchant and the service that you use. In context of cryptocurrencies, everyone that knows your address can literally see your whole transactions history and no amount of mixers,coinjoins, address rotations etc can solve this issue. The only somewhat decent solution here is non-transparent blockchain (the way monero and its copycats do that). Monero itself is not perfect but so far its the best solution if you actually want the level of anonymity similar (or even better) than cash. I am not saying you should invest in it (in fact it would probably be a very bad idea since you know very little about it) but I would highly recommend just taking a look at it every once in a while, especially when things become difficult.

  7. 1 month ago
    Anonymous

    ETH smart contracts are a legitimate technology. XMR security is a legitimate technology. BTC as a proof of concept is a legitimate technology.

    Almost no crypto actually presents legitimate innovation though. It's overwhelmingly pump and dump scams or pure utility tokens which are technically interesting but have no monetary value.

    Also the number of moronic third worlders involved has poisoned the whole sphere.

  8. 1 month ago
    Anonymous

    Bitcoin is the only thing worth its name, the rest are ponzi schemes

  9. 1 month ago
    Anonymous

    I think you should go back to your containment board, jeet.

  10. 1 month ago
    Anonymous

    if it is illegal and hard to get it is good. If it is promoted it is bad. Literally just look at the dumb b***h index and you will know if it is good - do women go for it? Buy and sell fast, do women claim Monero is like for buying prime pussy and shit? Hold for long time.

  11. 1 month ago
    Anonymous

    Monero is digital Cash. The rest are pointless.

  12. 1 month ago
    Anonymous

    Monero is the only one that can be reasonably used as a currency with the shilling that that cryptoguys assign to Bitcoin.

    Bitcoin is taken more of a gold-tier asset. You invest in it either as a hedge or to make money. Etherum, Chainlink, etc., they do... something which is where they derive value.

    Still, if you want boomer security just invest in metals. They'll inevitably run out and the resource war will begin

  13. 1 month ago
    Anonymous

    It's all one big scam. Nothing will ever truly be decentralized, as you need infrastructure to run apps.

  14. 1 month ago
    Anonymous

    ETH is actually useful from a tech perspective.
    XMR is useful as an actual currency to pay people, but it will only be used by criminals.
    BTC is inherently flawed and not actually suitable for large-scale real world applications, but due to it's status as the original it will retain its place as a store of value (like gold).
    The rest are all pump & dump schemes.

  15. 1 month ago
    Anonymous

    you know that meme, stop doing X or Y, no real world use case found after A or B

    blockchains are like that, but for real

  16. 1 month ago
    Anonymous

    Imagine not owning Satoshi’s second coin, Kaspa. I also only own BTC / XMR and believe smart contracts and nfts are a useless cope invented because BTC couldn’t scale.

  17. 1 month ago
    Anonymous

    I'm a techie and also a "lolbert". Only good one is Monero. Its the only one that make feds, IRS, and chainalysis seethe. I like it cause I feel it sticks to Bitcoin's roots of being a cryptoanarchist reaction to the centralized, Keynesian, rational reserve banking system set up by our Federal Reserve and cronyist bankers. More specifically, it came about due to the bubble of 2008. Normies as usual ruined Bitcoin as well as crypto. Now its all speculation and throwing around terms they don't understand like dweb and distributed.

    • 1 month ago
      Anonymous

      I still remember tornado cash making feds shit themselves

  18. 1 month ago
    Anonymous

    Frazzledrip is apparently in a popular blockchain. How do people open it to look at the files? Apparently there's also cp in there. Probably a bunch of /b/ shit too.

  19. 1 month ago
    Anonymous

    From a techno-socio perspective, it's inevitable moving forward. The implications of a decentralized currency, however, is better in some ways and worse in others. This all depends on whether Governments work with or against decentralized currency and whether decentralized currency is powerful enough to deconstruct the old way of governing to usher in an era of decentralized governance with decentralized financial tools such as decentralized securities. What would that mean? A truly global world where physical location is meaningless, however, alignment becomes much more important. Work for Arisaka and only got Arisaka creds? Sorry, Wallyworld down the block only takes Militech compatible creds, going to have to pay extra for the exchange rate. There's still a long way to deconstruct the thousands of years of traditional finance but the truth is, the amount of corruption, war, and senseless waste of capital will be the reason for streamlining financial pipelines for better clarity and objectivity in a more interconnected global future. In a century or two, if cryptocurrency can achieve its goal of truly decentralized finance, the old way of governance would cease to exist. Remember, the Government only exists to regulate the keys of power and the keys of power is capital finance, all of that is needless in a future where the people directly votes on a decentralized governance system. This is the inevitable direction humanity is headed, the real challenge is the old powers that be that cling onto their legacy, who are doing everything they can to stop that future. But it's inevitable, the future is global, for better and worse.

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