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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

#451

Post by mijamo »

Galanwe wrote: post #417
gambiting wrote: post #383

Earlier quoted context omitted.

And literally none of it, not a single step that you mentioned requires blockchain.

> And literally none of it, not a single step that you mentioned requires blockchain. Then tell me, where is this wonderful centralized database that tells me who owns which car? Blockchains are not just about decentralization, it's also about publishing the actual databases in the wild for everyone to see, because you have the guarantee that no-one can fake it. Sure, a lot of the use cases could be done with central…

Don't know about the US but in most countries you do have those databases. And them not being in the Blockchain makes it easier to solve hard problems such as inheritance disputes, or illegally purchased goods.

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

#452

Post by Ekaros »

disruptalot wrote: post #403

It's truly incredible that people still confidently proclaim that there is "no use case" today. Because of the technical nature of the underlying tech, it's hard for the average individual to recognise how and why it's different. However, it's not possible to explain away the particular applications and their properties. Here are 2 use cases which are live and working today: -Taking a collaterised USD loan without pe…

I could already easily get uncollaterised loan, just a text message away...

And if I have a collateral in form of fungible crypto why do I need to loan against it? Specially when I could just sell it and use the money...

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

#453

Post by yashg »

shrimpx wrote: post #369
yashg wrote: post #358

Earlier quoted context omitted.

Why shouldn't I buy the house directly with legit money then? Why add one more layer and pay some amount in commission and also deal with volatility in BTC prices?

That's a fair question but in if it's legal, why does it matter? People make their own financial decisions.

If I am in a country from where I can legally send money to Dubai to buy property, should I still convert money to BTC for buying property? Common sense says no. It may be legal but I don't need to add another layer of complexity.

If I am in a country from where I cannot legally buy a property in Dubai, would buying a property via BTC route be legal? Definitely not.

The only scenario in which it makes sense to buy property directly in BTC is if I had bought BTC years ago when it was cheap, it would be better to convert it into a real asset like an apartment in Burj Khalifa and convert my on paper wealth into real wealth.

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

#455

Post by usrbinbash »

ique wrote: post #326
usrbinbash wrote: post #257

Earlier quoted context omitted.

And how does a distributed Ledger solve these problems? Monopolies like Google and Facebook exist, in no small part, because the amount of computation and data they handle is vast, and they have the data centers to deal with that. How much data gets has to be stored on the servers of such services? Per second? I'd assume its in the range of several GiB...again per second . Okay, so how does the blockchain compare to…

Monopolies like Google and Facebook exist because of advertising. Remove advertising and they don't exist. The fact that they're processing a lot of data is in large part because they need to for advertising. Still, your understanding of blockchain tech is misleading here. Ethereum is public key registry at best and is not and should not be used to store or process data. In a blockchain world you can still have servi…

> Remove advertising and they don't exist.

Remove advertising and the amount of users for most social networks drops to oblivion, because barely anyone wants to spend money every time they post a picture of their cat.

> The fact that they're processing a lot of data is in large part because they need to for advertising.

They need large amounts of storage because millions of hours of video & audio, billions of food-pictures, tens of billions of lines of text, and a megagagazillion of references on who-like-clicked-what-when, take up a lot of storage.

> and is not and should not be used to store or process data.

Well then, what should be used? What decentralized storage solution can handle something like youtube, where 500 HOURS of video were uploaded PER MINUTE in feb. 2020?

And storing is half the deal. The solution also has to have high availability, consistency, low latency, and needs to be environmentally sound.

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

#456

Post by jakupovic »

gambiting wrote: post #382
chucke wrote: post #356

Earlier quoted context omitted.

Not to say your completely wrong, just that the purpose of car tokens on the blockchain is to replace perhaps your insurance, but not the keys.

But....why. What problem does it solve. How is it better than existing insurance policies that are perfectly fine being bound to my name and address

People were asking the same questions when typewriters came out, but why we know how to write already.

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

#457

Post by grey-area »

notahacker wrote: post #368
hectormalot wrote: post #316

Earlier quoted context omitted.

Yes, but is it a problem worth solving beyond what we have today? What’s the last time we saw an database integrity failure at the DMV/… leading to cars being owned by people that shouldn’t?

I'm pretty sure it wasn't more recently than the last time people lost control of assets on a blockchain! Replacing databases which afaik have never been manipulated anywhere in the world (despite representing legal ownership of high value assets) with tokens similar to those people lose access to or are duped out of on a daily basis is very Web3

Was the DMV hacked this week?

https://news.coincu.com/56415-citydao-hacked-discord-95000-d...

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

#458

Post by yashg »

magicjosh wrote: post #205
wodenokoto wrote: post #143

Earlier quoted context omitted.

In Dubai, buying real estate with bitcoin is a real thing, and by the looks of it also a big thing. If nothing else, it shows that crypto has succeed in one of its goals: moving money between countries, without being detected/hindered by governments. I mean, I don't know who buys real estate with crypto, but I am assuming that people who live in dubai and have large crypto values are bullish on crypto, and won't wast…

Here's an article About Dubai putting its entire land registry on the blockchain: https://www.ccn.com/100-dubai-put-entire-land-registry-block...

"DLD has created the blockchain system using a smart and secure database"

A blockchain system using a secure database. Makes it abundantly clear, how much they understand what a blockchain is. Truly, future belongs to blockchain systems.

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

#459

Post by usrbinbash »

ique wrote: post #360
dmitriid wrote: post #347

Earlier quoted context omitted.

> Users are free to switch service providers as they see fit No they are not. That is, they will need just as "free" to switch in the non-blockchain world. Why? Obvious, isn't it? - Blockchains can't store the amounts of data required (Youtube/Instagram/TikTok on blockchain? What a nice joke) - Even if you somehow can, companies will store data in their own proprietary ways incompatible with each other - And, of cour…

Data will never be stored on blockchains, its not what they’re for. It’s amusing that you’re so vehemently against something you know nothing about.

So if its not stored on the chain, where will it be stored, if not on central servers, where its ultimately under control of whoever owns them?

In a distributed network? How does that handle the data loads and requirements (availability, latency, security) of services on the scale of fb or youtube?

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

#460

Post by [deleted] »

ique wrote: post #322
x86_64Ubuntu wrote: post #216

Earlier quoted context omitted.

There's quite a bit of distance between blockchain tech and preventing Facebook/Google monopolies isn't there? And as long as blockchain tech has some dependency on capital investment, your better funded outfits are always going to have the terrain tilted in their favor.

If it has dependency on capital investment, it's not blockchain tech. Like almost by definition. Unless you adopt a super dumb idea of "blockchain = linked list". If you're talking about more than the data structure then what you're saying makes no sense.

[deleted]
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