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Ten years in, nobody has come up with a use for blockchain

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Re: Ten years in, nobody has come up with a use for blockchain

#161

Post by DenisM »

prodtorok wrote: post #159
DenisM wrote: post #118

Here's a vague idea... How about a reputation ledger? My reputation will accumulate over time, and people will trust me, simplifying some transactions. For example I could rent a short-term stay at a lower rate because I am such a nice fellow and will never mess anything up. Because my reputation has direct monetary value I would be hesitant to mess it up by being a dick, unless for a very big gain. The counter-parti…

sounds like a dystopia.

Well, worse case you shed your identity and start from zero, which is where you are now.

Re: Ten years in, nobody has come up with a use for blockchain

#162

Post by this_user »

adamnemecek wrote: post #104
this_user wrote: post #62

Earlier quoted context omitted.

"Blockchain tech" is not the Internet, though. It's like a different kind of Internet, one that is slower, more expensive and has less capacity, which was invented after the real thing has already been created. And then people would ask why you would need this if the real Internet can already do almost all of what this worse version does.

You listed only the cons but none of the pros.

I'm having a hard time seeing the pros. What can a "blockchain" do that we cannot do with existing technology? The only application so far is crypto currencies where it solves a very specific problem.

Moreover, what even is a "blockchain"? The most basic definition would be an inversely linked list with an added hash in each node. That's not much of an innovation. On the other end of the spectrum we have something like Bitcoin with a distributed network of "miners" who compete against each other by wasting energy, because the participants do not trust one another. This is not something most people would want or need. In most use cases we probably have trusted agents, but then we don't even need a mechanism like PoW/PoS to facilitate trust. This means we're really just left with a distributed database.

Re: Ten years in, nobody has come up with a use for blockchain

#163

Post by kindfellow92 »

oh_sigh wrote: post #132
kindfellow92 wrote: post #55

Earlier quoted context omitted.

I’m worth 13 million dollars because of crypto and I’ve diversified half... tell me more about how Bitcoin is a scam. :)

Im worth 16m because if the tulip bulbs I own. Did you diversify into other crypto currencies? You are only worth anything once you actually cash out into USD

I diversified 6mm into index funds and bond funds on Vanguard :)

Re: Ten years in, nobody has come up with a use for blockchain

#164

Post by kindfellow92 »

mutteraloo wrote: post #56
kindfellow92 wrote: post #55

Earlier quoted context omitted.

I’m worth 13 million dollars because of crypto and I’ve diversified half... tell me more about how Bitcoin is a scam. :)

I'm worth way more than 13 million, and you will most likely lose your million because you can't read :)

I can read. I’m a millennial and I haven’t been scammed. Bitcoin is changing lives for the better and has allowed me and my family to join you in wealth but you seem to hate that.

Re: Ten years in, nobody has come up with a use for blockchain

#165

Post by mrep »

WhitneyLand wrote: post #139

There are countless examples where a promising innovation, or even a seemingly useless but novel result became important at a much later date than 10 years. Even the Internet was criticized by some after 10 years for failing to live up to “change everything” hype, and it’s true it hadn’t really close to doing so at the time. Some companies like Blockbuster Video weren’t a bit concerned for quite a while. To me the cu…

The iPhone was first released 10 years ago. 10 years is a massive amount of time in tech.

Re: Ten years in, nobody has come up with a use for blockchain

#166

Post by davidpatrick »

meri_dian wrote: post #67
Cyberdog wrote: post #50

Earlier quoted context omitted.

What about a blockchain/distributed ledger improves supply chains in ways that a standard centralized database could not? Explain like I'm five.

I've been asking this exact question of blockchain enthusiasts and evangelists for over a year now, and have never received a clear response. I understand the difference between a distributed ledger and a database, but in all use cases I've heard mentioned as ripe for blockchain derived innovation, not once has a blockchain really been necessary or even an improvement over a traditional database based solution. To gi…

Nothing to do with each other, in the way that internet protocols would have nothing to do with how we purchase goods. Crypto creates a validated economy in a VR/AR world. Digital goods have a certain tangibility with crypto inside of a VR/AR environment, that creates true ownership.

Re: Ten years in, nobody has come up with a use for blockchain

#167

Post by davidpatrick »

mrep wrote: post #165
WhitneyLand wrote: post #139

There are countless examples where a promising innovation, or even a seemingly useless but novel result became important at a much later date than 10 years. Even the Internet was criticized by some after 10 years for failing to live up to “change everything” hype, and it’s true it hadn’t really close to doing so at the time. Some companies like Blockbuster Video weren’t a bit concerned for quite a while. To me the cu…

The iPhone was first released 10 years ago. 10 years is a massive amount of time in tech.

The iPhone wasnt an innovation, it was an iteration.

Re: Ten years in, nobody has come up with a use for blockchain

#169

Post by hakanito »

DenisM wrote: post #118

Here's a vague idea... How about a reputation ledger? My reputation will accumulate over time, and people will trust me, simplifying some transactions. For example I could rent a short-term stay at a lower rate because I am such a nice fellow and will never mess anything up. Because my reputation has direct monetary value I would be hesitant to mess it up by being a dick, unless for a very big gain. The counter-parti…

Checkout Civic or HelloBloom

Re: Ten years in, nobody has come up with a use for blockchain

#170

Post by brokensegue »

hanselot wrote: post #30
Namecoin_Dammit wrote: post #26

https://namecoin.org/

I was just wondering why blockchain doesn't get used to manage government data on citizens. One immutable record of a person with all the metadata stored in sidechains.

because they can just use a database...
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