#I want to study blockchain and get my bachelor in this path is there any idea about how?

81 messages · Page 1 of 1 (latest)

foggy wigeon
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🧠 💰

terse tartan
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lmao "study blockchain"? what do you think that entails?

foggy wigeon
terse tartan
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what would you do with "blockchain" after the bachelors

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what is the goal job and what applications do you think blockchain reasonably has

foggy wigeon
terse tartan
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it's kind of a meme among IT people

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it doesn't really have a good application yet

foggy wigeon
terse tartan
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such as?

foggy wigeon
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for investing

terse tartan
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oh no lol

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@inner stag did you happen to study blockchain

foggy wigeon
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suppose u're poor okey and u wana invest to buy a house u have just 100$ in ur pocket

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so this website help u invest by putting just a 50$

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and u'll get 10% yearly

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and as much as u put more u get more profit

terse tartan
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this is not how a blockchain works

inner stag
terse tartan
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a blockchain is just a decentralized system you can use to prove contracts or transactions

foggy wigeon
inner stag
terse tartan
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you'd be better off studying economics

foggy wigeon
terse tartan
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maybe wirtschaftsinformatik

inner stag
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Hmmm blockchain... Thats security informatics probably?

terse tartan
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yeah but he's talking about property investments

inner stag
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It's. Still informatics

terse tartan
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yeah

inner stag
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Dont you need to build the System first?

foggy wigeon
terse tartan
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re-read what i said

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i gave several examples separated by an "or"

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meaning there isn't one application

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but none of the applications are "good" yet

foggy wigeon
terse tartan
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it's currently just a meme

foggy wigeon
terse tartan
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insofar that it allows you to trade currency for illegal goods mostly

inner stag
terse tartan
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other than that you need, ironically, a BTC->currency ATM

foggy wigeon
foggy wigeon
terse tartan
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there isn't really a practical use for bitcoin outside of buying drugs or weapons on the internet

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yet

foggy wigeon
terse tartan
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as in turning it into a "traditional" currency and using it?

foggy wigeon
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cuz traditional currencies need a central moderator

terse tartan
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i think you're not picking up what's being put down here

foggy wigeon
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huh?

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@inner stag are u arabe ?

inner stag
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No

foggy wigeon
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kk

warm turret
# foggy wigeon and u'll get 10% yearly

The problem is that the money has to come from somewhere. Blockchains can't print Dollars or Euros or any other "real-world" currency. Assume a lot of people - say a million - put 100$ in. You'd owe them 100 million $. According to you, all of them want to take their money out at some point, plus interest - that would be 110 million $. Where do the 10 million additional $ come from?
Traditional banking would loan the money to other people with additional interest, but in an even marginally stable economy, that'd get you nowhere close to 10% even with the riskiest investments. Some blockchain companies, like FTX, claimed that was possible. They all - to my knowledge - have failed and had to take deposits from newer customers to pay out older customers. This is called a Ponzi scheme, and it's illegal. The owner of FTX went to jail, and I don't think he'll ever be let out.
Where else would you get the 10 million $? I mean, you could convince people to just not take out their deposits (that's what Bitcoin did, basically) - but that wouldn't help them financially, as you have claimed you'd like to do.

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A reasonable way to keep feeding the cycle would be to find some real-world application outside of finance and speculating that might convince people to put money into the currency without getting anything in return, like providing them with a service. No one has managed to do that as of today. That was the point the other ones here wanted to make. If you had any other good or service, you wouldn't even need blockchain technology to offer it. To find a use case that offers boons as I mentioned and which has to be done in blockchain because it's impossible otherwise seems to amazingly hard to find. And a lot of people have tried to find one for years.

foggy wigeon
warm turret
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As I said, in a stable economy you'd never get that kind of return. And in an unstable one, you'd most likely lose everything.

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More return = more risk, most of the time.

foggy wigeon
warm turret
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Yes, they had to do bad stuff or else they would have gone bust even earlier because the levels of return they promised were just not sustainable.

foggy wigeon
foggy wigeon
foggy wigeon
foggy wigeon
warm turret
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Yes, but honest business doesn't get you to 10% returns per year without major risks to lose basically everything.

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Banks have lost lots of money aiming for even smaller margins, and at least theoretically they should know their stuff.

foggy wigeon
foggy wigeon
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but they have volume abt 200b$

warm turret
# foggy wigeon it can but not yearly like for 16 months

Even if that would be as easy as claimed, it wouldn't be enough. If people want their money after 12 months, you'd have to have the money after 12 months. And after 16 months, there would - depending on how you're computing interest - even more money you'd owe them.

warm turret
# foggy wigeon but they have volume abt 200b$

I don't think that matters much, actually. If they'd see a risk-free opportunity to get a 10% return per year, they'd probably jump right at it. If their rates are less than that, you can bet they haven't found that many of those opportunities. Same for the crypto currencies/companies: if they'd found enough of those opportunities, they might still be around. But so many of the larger ones have gone bust that they probably also didn't find many of those risk-free opportunities, and they also are much smaller than the larger banks.

foggy wigeon
glass aspen
foggy wigeon
glass aspen
foggy wigeon
glass aspen
foggy wigeon
glass aspen
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nvm