51–60 of 359 posts
Earlier quoted context omitted.
This is wrong. Blockchains validate data. Their purpose isn't to store it. Mostly the answer to do you need a blockchain is no
The purpose of bitcoin, for example, is not to store a list of transactions?
I keep saying this, but: Bitcoin is well over 10 years old by now. In 10 years, the internet was already clearly adding a ton of value all over the place. Bitcoin is not really a 'young technology' anymore, and the only thing it has enabled so far is risky, unregulated investment strategies, and an staggering amount of crime.
When the Internet was 10 years old the year was 1987.
I keep saying this, but: Bitcoin is well over 10 years old by now. In 10 years, the internet was already clearly adding a ton of value all over the place. Bitcoin is not really a 'young technology' anymore, and the only thing it has enabled so far is risky, unregulated investment strategies, and an staggering amount of crime.
So after 10 years, is Bitcoin the only one though?
> In 10 years, the internet was already clearly adding a ton of value all over the place.
The Internet? In the 1980s there were virtually little to no users. Until the Web came around in the 1990s so did the dotcom speculators and then after the crash, 90% of those internet startups died. Only then the survivors added value to it. Even Web 2.0 was seen as a 'scam' [0].
I'm sure you meant the web?
[0] https://www.wired.com/2005/10/web-2-0-cracks-start-to-show/
I keep saying this, but: Bitcoin is well over 10 years old by now. In 10 years, the internet was already clearly adding a ton of value all over the place. Bitcoin is not really a 'young technology' anymore, and the only thing it has enabled so far is risky, unregulated investment strategies, and an staggering amount of crime.
What country do you live in? Because I know plenty of folks in certain countries with massive inflation and projects such as bitcoin are their refuge from 100-1000% inflation a year. When you say “in 10 years” when did that 10 year time frame start and end? Are talking about the 1960s or the 1990s? Because most people I knew didn’t start using the internet regularly until the mid to late 90s or about 30 or so years a…
Earlier quoted context omitted.
The purpose of bitcoin, for example, is not to store a list of transactions?
Storing the list is the easy part. I have a usb drive that can store the list. You want people to agree on which chain is the main chain, so that you can only add things to the list, and you can't go back or substitute it with another list without breaking proof of work. The purpose of bitcoin is to make people agree that a spent transaction is irrevocably spent.
https://etherscan.io/chartsync/chainarchive
Crypto is more and more centralised because the hardware to run your own node is now thousands of dollars. That is without even getting into miners...It is kinda failing.
I keep saying this, but: Bitcoin is well over 10 years old by now. In 10 years, the internet was already clearly adding a ton of value all over the place. Bitcoin is not really a 'young technology' anymore, and the only thing it has enabled so far is risky, unregulated investment strategies, and an staggering amount of crime.
What country do you live in? Because I know plenty of folks in certain countries with massive inflation and projects such as bitcoin are their refuge from 100-1000% inflation a year. When you say “in 10 years” when did that 10 year time frame start and end? Are talking about the 1960s or the 1990s? Because most people I knew didn’t start using the internet regularly until the mid to late 90s or about 30 or so years a…
- Which countries?
- What portion of the population are benefiting from crypto? Is it a tiny portion of nerds or has it become more mainstream now?
- With the crash in cryptocurrency over the last few months are these people in those countries still glad that they used this, or are they regretting it?
I don't doubt that there exist individuals in countries with high inflation who have befitted from the crypto boom. I want more than just anecdotes about individuals: I want to understand if this is a widespread, sustainable trend.
I keep saying this, but: Bitcoin is well over 10 years old by now. In 10 years, the internet was already clearly adding a ton of value all over the place. Bitcoin is not really a 'young technology' anymore, and the only thing it has enabled so far is risky, unregulated investment strategies, and an staggering amount of crime.
What country do you live in? Because I know plenty of folks in certain countries with massive inflation and projects such as bitcoin are their refuge from 100-1000% inflation a year. When you say “in 10 years” when did that 10 year time frame start and end? Are talking about the 1960s or the 1990s? Because most people I knew didn’t start using the internet regularly until the mid to late 90s or about 30 or so years a…
Earlier quoted context omitted.
There are a lot of successful blockchain projects that respond to various use cases. On top of my head: - Uncensorable money: og bitcoin and pretty much everything else - Uncensorable money + privacy: monero, tornado.cash, etc. - Decentralized exchanges/automated market makers: curve.fi, uniswap, etc. - Prediction markets: polymarket etc. EDIT: looks like omen and augur are dead
Please note the stipulation "real world": everything you just listed involves moving bits about in the crypto world.
I keep saying this, but: Bitcoin is well over 10 years old by now. In 10 years, the internet was already clearly adding a ton of value all over the place. Bitcoin is not really a 'young technology' anymore, and the only thing it has enabled so far is risky, unregulated investment strategies, and an staggering amount of crime.
Where we are now as still deciding whether the equivalent of TCP/IP will be what to move forward with, and by that metric I am pretty impressed with the progress of the blockchain concept and sentiment coordination.
I keep saying this, but: Bitcoin is well over 10 years old by now. In 10 years, the internet was already clearly adding a ton of value all over the place. Bitcoin is not really a 'young technology' anymore, and the only thing it has enabled so far is risky, unregulated investment strategies, and an staggering amount of crime.
The internet did not have to overcome network effects in the same way that cryptocurrency has. If there was a "super-centralized" network that already had major success (for example, imagine a world in which teletext or something was dominant before the internet) then the internet/web may have had a serious competitor. Instead, the internet was largely reverse-compatible with previous networks such as the phone netwo…
There were absolutely successful networks. AOL (America Online) was the biggest, while CompuServe was the older one.
I remember (alas) consciously choosing not to invest in .com domain names in the mid-90's because I assumed both they and AOL room names (if that was the term?) would just be passing fads on the way to whatever better newer network would exist ten years later, with a newer name system.
The internet absolutely had to overcome America Online, at least in the US. (It helped that, early on, many/most people could access the internet via AOL, before local ISP's became widespread.)