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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

#571

Post by edem »

lkrubner wrote: post #500
hubraumhugo wrote: post #33

I'm still very opposed to the idea of taking a technology and then searching a problem for it. Why? Back in 2017 during the first hype cycle, blockchain companies raised hundreds of millions with ICOs. I became very interested in the technology too, and some friends still work in this space. 4 years later in the web3 era, there is not a single product aside from trading/finance that got traction. Use cases like stori…

I've been documenting this with specific companies. A recent one that I worked with was Omnichains: https://www.omnichains.com "Omnichain CEO Pratik Soni speaks to Inbound Logistics about the growing number of blockchain use cases in the supply chain, including in reverse logistics, product authentication and sustainability." Apparently this company started with the idea that they would use the blockchain to make sup…

You're missing the point. The goal when you use blockchain is not to more easily serve. It is all the things that don't matter to you until it is too late, like censorship resistance.

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

#572

Post by boringg »

hubraumhugo wrote: post #33

I'm still very opposed to the idea of taking a technology and then searching a problem for it. Why? Back in 2017 during the first hype cycle, blockchain companies raised hundreds of millions with ICOs. I became very interested in the technology too, and some friends still work in this space. 4 years later in the web3 era, there is not a single product aside from trading/finance that got traction. Use cases like stori…

I had the same experience. The thing that gets me as well is that normally with the rise of new technology you get an excitement that is tangible. Like when the internet first xame around there were emails, multiplayer games via modem, websites. A whole plethora of new wonderful experiences. So far all I've really gotten after doing a lot of research is some good projects and a long tail of terrible projects/websites and a lot of scammers.

It really feels like with the NFT backlash in the gaming world right now that crypto hasn't found its landing and it really hasn't taken off - its kind of in this weird purgatory. Im hopeful but very suspicious at this point. I wasn't suspicious of “the internet” until it was around for a long time. Crypto is past its wave of this is cool and lets build stuff phase afaik and now everyone is trying to make money off it.

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

#573

Post by rohitb91 »

missedthecue wrote: post #270
cinntaile wrote: post #178

Earlier quoted context omitted.

Why would that be the case?

Yeah it's difficult to see how this facilitates money laundering. Say you're a drug kingpin who has a billion in literal paper cash that you need to make appear legitimate. Somehow, you've got to do a billion dollars in cash to bitcoin transactions, but what's the point of buying middle eastern real estate with the bitcoin after that? Why not just rinse the bitcoin through a tumbler and sell it on an exchange and tel…

I think it's easier if we think about it with concrete people. How exactly would someone like El Chapo be using bitcoin for laundering activities?

Furthermore, when people bring up the laundering and crime argument, I always point out that the us dollar is by far the medium of choice for laundering money, crime, ransom, extortion, drug payments, human trafficking payments, terror financing.

Accepted almost everywhere, virtually untraceable.

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

#574

Post by giaour »

aflag wrote: post #556
Vespasian wrote: post #494

Earlier quoted context omitted.

Exactly, and while the government database "land registry" could, of course, be replaced with a government "HouseChain" it wouldn't actually solve any Problem but would introduce a ton of new ones.

However, if you have no government, the housechain could be a way for a decentralized society to implement the concept of a land registry. Once everyone agrees that the housechain is proof of ownership, then measures can be taken to enforce that without necessarily evoking a central government. I'm not sold on the idea of a society without a central government, but I think the blockchain would help — or even enable —…

In the absence of a governing authority, property disputes would revert to being settled by violence or the threat thereof.

Why should my band of armed thugs defer to what it says on the blockchain when they could instead hit you with a $5 wrench until you vacate the premises? https://xkcd.com/538

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

#575

Post by edem »

tomputer wrote: post #261
hubraumhugo wrote: post #33

I'm still very opposed to the idea of taking a technology and then searching a problem for it. Why? Back in 2017 during the first hype cycle, blockchain companies raised hundreds of millions with ICOs. I became very interested in the technology too, and some friends still work in this space. 4 years later in the web3 era, there is not a single product aside from trading/finance that got traction. Use cases like stori…

> Use cases like storing the history of a car on-chain, transparent supply chains, public voting... this all sounds interesting but never made it to product-market fit. Anything that does not exist natively on the blockchain doesn't need a blockchain at all. If a token on the blockchain would represent you as the owner of a car and one day someone steals your private key which represents your car ownership, that pers…

You're totally off. All those things you said _can_ go on the blockchain including the private key that they could use to start the car. Of course they can sell it for parts...if the parts didn't have private key protection too...

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

#576

Post by Andrew_nenakhov »

Vespasian wrote: post #507
Andrew_nenakhov wrote: post #437

Earlier quoted context omitted.

Bitcoin being blockchain and a consensus algorithm to append it is what enables people to use it without asking for permission. Permissionlessness is the main killer feature, and I dare you to find another way to implement it using some other method.

Alright, how does a potential recipient use those funds? Pay rent? No, because the government would notice the missing income on the landlords tax return. Pay for food and other goods? No, because the government would not allow companies to take funds from permissionless blockchains. Buy real estate or a car? No because those needs to be registered with the government as well and payments are regularly checked for fr…

Conversion of bitcoin to whatever currency is hard to block. USSR had death penalty (!) for buying or selling things using foreigh currency. Yet, the black was persistent.

Also, we are talking about the unbanked: people who otherwise have no other state-sanctioned way to use financial services. Bitcoin first and foremost helps such people.

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

#577

Post by zepto »

aflag wrote: post #556
Vespasian wrote: post #494

Earlier quoted context omitted.

Exactly, and while the government database "land registry" could, of course, be replaced with a government "HouseChain" it wouldn't actually solve any Problem but would introduce a ton of new ones.

However, if you have no government, the housechain could be a way for a decentralized society to implement the concept of a land registry. Once everyone agrees that the housechain is proof of ownership, then measures can be taken to enforce that without necessarily evoking a central government. I'm not sold on the idea of a society without a central government, but I think the blockchain would help — or even enable —…

> then measures can be taken to enforce that without necessarily evoking a central government.

What measures?

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

#578

Post by democracy »

jakupovic wrote: post #473
democracy wrote: post #359

"Crypto" shat itself in the area of payments (noone really needs or wants it and it provides 0 value), so now they are trying other angles - NFT, DeFi. The problem is the crypto influencers are losing touch with reality. You could at least bullshit someone clueless about cryptocurrency and payments, but it's really hard to sell the idea of collecting JPEGs or investing into DeFi (which aggressively described in the t…

So the people buying houses with crypto have dirty pants? Or in El Salvador, where BTC is on par with USD, they all have dirty pants? Please re-read your comment before publicly posting, as this is not advancing conversation, nor adding anything, but only exposes your narrowly held (wrong) beliefs.

El Salvador doesn't have its own national currency at all. And yes, imaginary people paying for houses in bitcoin is another example of a crazy meaningless argument. Maybe there is one or two, who knows. I think more people pay for properties in camels or Vodka bottles if we really search.

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

#579

Post by edem »

saalweachter wrote: post #522
poof131 wrote: post #98

A few months ago I agreed with her entirely. Tether is an unbacked fraud and NFTs are being front-run [1, 2]. The mid-level marketing Ponzi vibe is crazy. The latency of applications on the blockchain is atrocious. But more recently after learning from and interacting with people building in the space my assessment changed. There is an interesting intersection between tech, communities, and economics. There exists a…

I'm sorry, I'm not trying to call you out personally, but this is itching my brain something fierce so I have to blurt it out, and hey, it's the internet. A little derailing never hurt anyone. It's amazing to me how universal the "I used to be a non-believer" line is in evangelism. From the classic "I used to be an atheist but I've been born again" to all the members of political party A claiming to have been a membe…

No post body was provided.

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

#580

Post by democracy »

baby wrote: post #394
democracy wrote: post #359

"Crypto" shat itself in the area of payments (noone really needs or wants it and it provides 0 value), so now they are trying other angles - NFT, DeFi. The problem is the crypto influencers are losing touch with reality. You could at least bullshit someone clueless about cryptocurrency and payments, but it's really hard to sell the idea of collecting JPEGs or investing into DeFi (which aggressively described in the t…

That’s not how it happened. Crypto is seeing a lot of technical advances. At the same time, people find different ways to build on top of it.

One man's advance is another man's dead end.
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