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It’s not still the early days of blockchain

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Re: It’s not still the early days of blockchain

#61

Post by cuteboy19 »

lunch wrote: post #40
xmprt wrote: post #31

Earlier quoted context omitted.

No. But you don't need blockchain to solve that. Things like BitTorrent work perfectly fine without the needless blockchain element.

BitTorrent is wonderful for sharing information, but it's not really a platform to build on. Something like Ethereum on the other hand is literally a decentralized computer that no single entity controls. The blockchain part enables this.

a "decentralized"[0] ""computer"" which is less powerful than a 9 year old rasberry pi. is this not the definition of hype?

[0]: https://thenextweb.com/news/ethereum-nodes-cloud-services-am....

Re: It’s not still the early days of blockchain

#62

Post by mikeg8 »

Dwolb wrote: post #32
obstacle1 wrote: post #19

Earlier quoted context omitted.

I'm not aware of any serious financial application running at scale and relying on blockchain under the hood. Are you? What is it? Specifically.

Curve Finance with $14B locked to its platform. Serves up low slippage stablecoin swaps. Some background on Curve (and Convex): https://medium.com/coinmonks/convex-curve-curve-d7e28cd6c1d9

“Low slippage stable coin swap” is one of the most jargony things I’ve read on here in a while. Can you please ELI5 because I have no clue what this is or how it could be useful.

Re: It’s not still the early days of blockchain

#63

Post by ryandamm »

mizzao wrote: post #54

How's this any different than the typical technology hype and adoption cycle? Perhaps we are just at the "peak of inflated expectations" right now, and are about to dive into the "trough of disillusionment". https://setandbma.files.wordpress.com/2012/05/technology-ado... This certainly happened with AI at least twice... remember the AI summers of 1970 and 2010 and the AI winters in between...before certain applicatio…

> My wife recently suggested one: NFTs minted by your university as proof of your diploma. Or perhaps your academic transcript. No way to forge a fake diploma again.

This is once again better served by a database. Diplomas are inherently centralized and issued by a trusted authority.

Guess we gotta keep brainstorming for use cases -- that's how technology development works, right?

Re: It’s not still the early days of blockchain

#64

Post by obstacle1 »

Dwolb wrote: post #32
obstacle1 wrote: post #19

Earlier quoted context omitted.

I'm not aware of any serious financial application running at scale and relying on blockchain under the hood. Are you? What is it? Specifically.

Curve Finance with $14B locked to its platform. Serves up low slippage stablecoin swaps. Some background on Curve (and Convex): https://medium.com/coinmonks/convex-curve-curve-d7e28cd6c1d9

So this is Yet Another Liquidity Pool? $14B is not the kind of scale I mean. That is frankly trivial especially when transactions are large (or initial funding is high).

What I mean is, if blockchain is going to be a revolutionary technology backing all finance, where is the evidence it can handle the kind of transaction volume that, say, major credit card networks generate?

Re: It’s not still the early days of blockchain

#65

Post by somebodythere »

codebolt wrote: post #36
JohnJamesRambo wrote: post #5

Blockchains exist for a reason completely other than performance. Of course a centralized database would perform better. That’s not the point. I think engineers keep getting hung up on this and don’t zoom out and see the big picture.

'Zooming out and seeing the big picture' seems to mean buying into a libertarian vision of the world where the current money system is horribly broken and blockchain technologies are a viable and superior alternative. I profoundly disagree on all points of that analysis.

There are plenty of people on any part of the political spectrum for whom the current money system is horribly broken.

Re: It’s not still the early days of blockchain

#66

Post by freemanon »

rsanheim wrote: post #52

I'm increasingly seeing "web 3.0" as basically a two headed beast: 1) a way to part greater fools from their money until the hype has died out 2) a hot topic to drive clicks and discussions for nerds and, increasingly, the tech press, from other more pressing issues that exist in terms of tech and culture and finance In other words, its a bullshit scam, can we please move on already?

i suggest learning it properly before jumping to conclusions. everything has pros and cons. e.g. cars pollute but would you want to go back to riding horses? judge less, learn more

Re: It’s not still the early days of blockchain

#67

Post by ryandamm »

magicjosh wrote: post #59
mizzao wrote: post #54

How's this any different than the typical technology hype and adoption cycle? Perhaps we are just at the "peak of inflated expectations" right now, and are about to dive into the "trough of disillusionment". https://setandbma.files.wordpress.com/2012/05/technology-ado... This certainly happened with AI at least twice... remember the AI summers of 1970 and 2010 and the AI winters in between...before certain applicatio…

Did Moore ever talk about the time length of such cycles? I imagine it differs from industry to industry. Is blockchain on a 10 year cycle like Uber/Facebook, or a longer cycle? (Disclosure I own Bitcoin and Ethereum)

The hype cycle isn't Moore, it's Gartner -- the research firm.

https://en.wikipedia.org/wiki/Gartner_hype_cycle

Re: It’s not still the early days of blockchain

#68

Post by baby »

mikeg8 wrote: post #62
Dwolb wrote: post #32

Earlier quoted context omitted.

Curve Finance with $14B locked to its platform. Serves up low slippage stablecoin swaps. Some background on Curve (and Convex): https://medium.com/coinmonks/convex-curve-curve-d7e28cd6c1d9

“Low slippage stable coin swap” is one of the most jargony things I’ve read on here in a while. Can you please ELI5 because I have no clue what this is or how it could be useful.

Have you heard of leverages, margin calls, derivatives, put options, etc.? DeFi is pretty much the same level of complexity but implemented on top of cryptocurrencies.

Re: It’s not still the early days of blockchain

#69

Post by magicjosh »

cuteboy19 wrote: post #51
magicjosh wrote: post #42

The article suggests that using the phrase "it's early days" is incorrect in blockchain technology because Bitcoin and Ethereum have been around for 13 and 6 years respectively. The author goes on to give examples like smartphones, Uber, and Tesla, all of which have had serious developments in terms of impact and usability in around the same time period. Then given that Bitcoin and Ethereum have not made similar prog…

It will always be "early days". Crypto requires a constant influx of marks who genuinely believe that they are early, as a ponzi scheme only ever benefits early entrants. No crypto enthusiast is ever going to tell that you are late.

For a pyramid scheme that certainly holds up. Whoever joins last seems most incentivized to bring others in. Has anyone modeled pyramid scheme dynamics to Bitcoin perhaps at an academic level?

(Disclosure I own Bitcoin and Ethereum)

Re: It’s not still the early days of blockchain

#70

Post by somebodythere »

obstacle1 wrote: post #64
Dwolb wrote: post #32

Earlier quoted context omitted.

Curve Finance with $14B locked to its platform. Serves up low slippage stablecoin swaps. Some background on Curve (and Convex): https://medium.com/coinmonks/convex-curve-curve-d7e28cd6c1d9

So this is Yet Another Liquidity Pool? $14B is not the kind of scale I mean. That is frankly trivial especially when transactions are large (or initial funding is high). What I mean is, if blockchain is going to be a revolutionary technology backing all finance, where is the evidence it can handle the kind of transaction volume that, say, major credit card networks generate?

Maybe check out DYDX L2.
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