According to this article:
Blockchain, big data, cloud computing, AI, and magic are roughly equivalent.
Don't waste your time reading it even if blockchain is weak.
Blockchain, the Solution for Almost Nothing
21–30 of 296 posts
Re: Blockchain, the Solution for Almost Nothing
#22Responding to title only: of course, but the things it _is_ a solution for will be world changing.
When will they be world changing? I have a client who insists on paying me in crypto and the whole thing is dramatically more expensive and complicated than using TransferWise with a 10,000x increased risk that someone fat fingers something and the money disappears into the ether forever
But he's clearly on the cutting edge of something, or so he thinks.
Re: Blockchain, the Solution for Almost Nothing
#23There are precisely two legitimately useful applications of the blockchain data structure that have been invented: 1. Money 2. Zooko's Triangle Your prior should be that anything else is some kind of delusion or scam.
And the cost of bitcoin has naturally been inflating to the cost of the power needed to do the mining ... so the whole thing looks a lot like a bubble, great if you got in and out early, bad news for everyone else.
Re: Blockchain, the Solution for Almost Nothing
#24The 402 response code in HTTP might be a useful thing to "hook up" to Lightning, which itself is useful because of the Bitcoin blockchain. Having fast micropayments payments running on data requests is useful for a wide variety of cloud applications, including but not limited to data transfer costs and queries to machine learning models, all without the need for "users" on the systems being accessed. The way I'd put…
That would change the dopamine cycle of content consumption. I really don't see that happening. And its not like this couldn't have happened without bitcoin.
Re: Blockchain, the Solution for Almost Nothing
#25Bitcoin has lots of uses:
- Getting money out of China. Buy into a mining consortium with yuan, get a fraction of the bitcoins, sell outside China for dollars or euros. You're manufacturing and exporting, which the government of China likes.
- Extortion. The ransomware extortion business depends on Bitcoin.
- Drugs. Delivered to your door in a plain wrapper.
Re: Blockchain, the Solution for Almost Nothing
#26Earlier quoted context omitted.
Ethereum developers have been working extremely hard to move to proof of stake to remove this massive power requirement. It's too bad that wasn't mentioned in the article.
Slide side track but I never get the complaints about power usage. It’d be great if crypto used less energy obviously but doesn’t fiat also use a ridiculously high amount of energy?
A centralised system built around reputational trust will always use less energy than one where trust is derived from compute time.
Re: Blockchain, the Solution for Almost Nothing
#27Earlier quoted context omitted.
Ethereum developers have been working extremely hard to move to proof of stake to remove this massive power requirement. It's too bad that wasn't mentioned in the article.
Slide side track but I never get the complaints about power usage. It’d be great if crypto used less energy obviously but doesn’t fiat also use a ridiculously high amount of energy?
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Re: Blockchain, the Solution for Almost Nothing
#28An article about blockchain where the thesis is that it doesn't solve any problems and it doesn't even mention Ethereum? This article is extremely poorly researched (maybe on purpose) and reads like clickbait.
Could you elaborate on what problems Ethereum has solve? Genuinely curious, as I shared this article’s preconceptions.
Re: Blockchain, the Solution for Almost Nothing
#29This article is misinformed. The past two years have seen a Cambrian explosion of apps on ethereum. financial apps on ethereum - https://defipulse.com/ - https://uniswap.info/home - https://compound.finance/ - https://nexusmutual.io/ - https://bloom.co/ - https://baseline-protocol.org - https://augur2.eth.link/ non-financial apps on ethereum - https://audius.org/ - https://ens.domains/ - https://decentraland.org/ pop…
Yeah thanks to COVID there is a ton of new interest in defi as a form of unregulated gambling.
Re: Blockchain, the Solution for Almost Nothing
#30Can we add Graph Databases to the list of things that are kinda cool but with very limited applications too?
Facebook's entire backend is built on a graph database.
https://www.facebook.com/notes/facebook-engineering/tao-the-...