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Decentralized Blockchain-Based Electronic Marketplaces

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Re: Decentralized Blockchain-Based Electronic Marketplaces

#11

Post by rublev »

askafriend wrote: post #10
sktrdie wrote: post #2

Aren't you guys tired of this whole blockchain thing? I'm a bitcoin proponent and love the technology, however it's becoming a truly "fake news" type of environment where new cryptocoins are so complicated to understand that only the creators know how they work. I'm mind blown by the fact that none of these new-cryptocoins are getting hacked - there's an enormous bounty out there for who's able to figure out how to d…

I think you're underestimating how truly small and how early the space is still. Normal people still can't easily buy a majority of the tokens/coins/cryptocurrencies out there. Every major exchange is having trouble scaling and many have closed user registrations. Coinbase has more active users than Schwab at this point by a couple million. Binance is the fastest growing private company to hit $2Bn in valuation ever…

>but at the same time there are still legitimate projects being started right now that could become very valuable in the next couple of years.

Care to name a few?

Re: Decentralized Blockchain-Based Electronic Marketplaces

#12

Post by askafriend »

rublev wrote: post #11
askafriend wrote: post #10

Earlier quoted context omitted.

I think you're underestimating how truly small and how early the space is still. Normal people still can't easily buy a majority of the tokens/coins/cryptocurrencies out there. Every major exchange is having trouble scaling and many have closed user registrations. Coinbase has more active users than Schwab at this point by a couple million. Binance is the fastest growing private company to hit $2Bn in valuation ever…

>but at the same time there are still legitimate projects being started right now that could become very valuable in the next couple of years. Care to name a few?

Everyone knows Bitcoin, ETH, and LTC which are all easily purchasable via Coinbase. But the general public is still lacking exposure to projects such as EOS, XLM (YC backed), REQ (YC backed), VEN, and many others.

Not only are they lacking exposure but it's a complicated, risky, error-prone process to actually buy in to these projects/tokens even for those who are technically apt. That's how early these projects are. Plus you'd need to register for an account on an exchange that actually carries these tokens and many are not accepting new users because they can't handle the load. It's a giant pain in the ass but there is a lot of money to be made (I'm up 3-5x already on much of my initial investments).

There is an artificial lack of access built into the market because of what I described above. Institutional capital and dumb money is still only really tuned into BTC/ETH.

Re: Decentralized Blockchain-Based Electronic Marketplaces

#13

Post by mtgx »

sktrdie wrote: post #2

Aren't you guys tired of this whole blockchain thing? I'm a bitcoin proponent and love the technology, however it's becoming a truly "fake news" type of environment where new cryptocoins are so complicated to understand that only the creators know how they work. I'm mind blown by the fact that none of these new-cryptocoins are getting hacked - there's an enormous bounty out there for who's able to figure out how to d…

1. Wonders how come blockchain technologies are so secure

2. Thinks that maybe we should get rid of them, and replace them with one of those big companies that exposes hundreds of millions of user accounts every year

Do you really not see what you're arguing about here? These technologies use blockchain because of its security. All of those trillions and trillions of hashes ensure that it's not easy or cheap for anyone to hack the network.

Also the last part, how could you have anonymity and censorship with a big few entities? That's like the antithesis of anonymity and censorship-resistance. Haven't people here been arguing for years that having apps centralized in an app store like Apple's will lead to more censorship (and it has) vs installing any app you want from the "decentralized web"?

Re: Decentralized Blockchain-Based Electronic Marketplaces

#14

Post by empath75 »

ThomPete wrote: post #3
sktrdie wrote: post #2

Aren't you guys tired of this whole blockchain thing? I'm a bitcoin proponent and love the technology, however it's becoming a truly "fake news" type of environment where new cryptocoins are so complicated to understand that only the creators know how they work. I'm mind blown by the fact that none of these new-cryptocoins are getting hacked - there's an enormous bounty out there for who's able to figure out how to d…

Scarcity still exists because the fork creates another coin than the original but a fork. Keep in mind that scarcity is due to trackability (history).

Scarcity doesn’t exist because anyone can start their own blockchain and pretty much anyone who can has. There’s nothing preventing anyone from relaunching an exact duplicate of bitcoin with all of its strengths and weaknesses at any time other than inertia.

Re: Decentralized Blockchain-Based Electronic Marketplaces

#15

Post by ThomPete »

sktrdie wrote: post #7
ThomPete wrote: post #3

Earlier quoted context omitted.

Scarcity still exists because the fork creates another coin than the original but a fork. Keep in mind that scarcity is due to trackability (history).

With the Bitcoin Cash fork I can spend my coins on both histories. That is the opposite of being scarce.

You can't sell Bitcoin Cash for the same price as you can sell Bitcoin. So no it's not the opposite it's exactly what I said.

Re: Decentralized Blockchain-Based Electronic Marketplaces

#16

Post by ThomPete »

empath75 wrote: post #14
ThomPete wrote: post #3

Earlier quoted context omitted.

Scarcity still exists because the fork creates another coin than the original but a fork. Keep in mind that scarcity is due to trackability (history).

Scarcity doesn’t exist because anyone can start their own blockchain and pretty much anyone who can has. There’s nothing preventing anyone from relaunching an exact duplicate of bitcoin with all of its strengths and weaknesses at any time other than inertia.

You are missing the point here. It's about the history of the individual coin not about the technical properties of coin in itself.

You can build as many cryptocurrencies as you want to. They aren't bitcoin as they don't have the history of bitcoin which means that they aren't the same.

Only bitcoin is bitcoin, because only bitcoins has the history they have.

Re: Decentralized Blockchain-Based Electronic Marketplaces

#17

Post by jhwang5 »

askafriend wrote: post #12
rublev wrote: post #11

Earlier quoted context omitted.

>but at the same time there are still legitimate projects being started right now that could become very valuable in the next couple of years. Care to name a few?

Everyone knows Bitcoin, ETH, and LTC which are all easily purchasable via Coinbase. But the general public is still lacking exposure to projects such as EOS, XLM (YC backed), REQ (YC backed), VEN, and many others. Not only are they lacking exposure but it's a complicated, risky, error-prone process to actually buy in to these projects/tokens even for those who are technically apt. That's how early these projects are.…

1)None of the "legitimate" projects you cited have actually delivered any products or revenue.

2)The whole market is up 5x in December 2017 alone, so I wouldn't say 5x return makes you a genius - it's like saying you are performing at that asset class's benchmark. Note, this is also just one sample.

3)If we unpack your reasoning closely, you seem to assume that further upside is inevitable if altcoins get easier to buy. I guess it's unthinkable that these coins accrue through revenue, right?

Re: Decentralized Blockchain-Based Electronic Marketplaces

#18

Post by jhwang5 »

mtgx wrote: post #13
sktrdie wrote: post #2

Aren't you guys tired of this whole blockchain thing? I'm a bitcoin proponent and love the technology, however it's becoming a truly "fake news" type of environment where new cryptocoins are so complicated to understand that only the creators know how they work. I'm mind blown by the fact that none of these new-cryptocoins are getting hacked - there's an enormous bounty out there for who's able to figure out how to d…

1. Wonders how come blockchain technologies are so secure 2. Thinks that maybe we should get rid of them, and replace them with one of those big companies that exposes hundreds of millions of user accounts every year Do you really not see what you're arguing about here? These technologies use blockchain because of its security. All of those trillions and trillions of hashes ensure that it's not easy or cheap for anyo…

Are you treating all blockchains as equal; there are different degrees of decentralization. You can have blockchains that are run by oligarchies of miners. Look no further than the mining pools behind Bitcoin.

Re: Decentralized Blockchain-Based Electronic Marketplaces

#19

Post by dsnuh »

sktrdie wrote: post #2

Aren't you guys tired of this whole blockchain thing? I'm a bitcoin proponent and love the technology, however it's becoming a truly "fake news" type of environment where new cryptocoins are so complicated to understand that only the creators know how they work. I'm mind blown by the fact that none of these new-cryptocoins are getting hacked - there's an enormous bounty out there for who's able to figure out how to d…

This is only tangentially related (btw I agree with you, it's out of control) but I always think back to the novels _Daemon_ and _Freedom_ by Daniel Suarez when it comes to the future of decentralized autonomous technologies. If you haven't read them, they are a fast and enjoyable read imho.

Re: Decentralized Blockchain-Based Electronic Marketplaces

#20

Post by stale2002 »

empath75 wrote: post #14
ThomPete wrote: post #3

Earlier quoted context omitted.

Scarcity still exists because the fork creates another coin than the original but a fork. Keep in mind that scarcity is due to trackability (history).

Scarcity doesn’t exist because anyone can start their own blockchain and pretty much anyone who can has. There’s nothing preventing anyone from relaunching an exact duplicate of bitcoin with all of its strengths and weaknesses at any time other than inertia.

I can go get a printer, and start printing stale2002 dollars, right now, perfectly legally.

Does that mean that paper money isn't scarce?

Dollar bills, of course, are protected from counterfeiting, in the same way that bitcoins are.

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