Earlier quoted context omitted.
That's Ethereum. Largely was consider a bad ideas because it's too large to independently validate
Name a main stream one that is easy? I run archive nodes for SOL, ETH, Polygon, others.
Bitcoin.
I Looked into 34 Top Real-World Blockchain Projects So You Don’t Have To
101–110 of 359 posts
Re: I Looked into 34 Top Real-World Blockchain Projects So You Don’t Have To
#102The primary purpose of blockchains is to prevent a central authority of regulating a currency, anything beyond it is hype. You're discarding the technology as whole without taking into regard its original intent.
I disagree. The author said they weren’t looking at cryptocurrency projects because blockchain makes some sense there. That’s what it was created for after all.
This article is a refutation to the “blockchain all the things!” hype of the last few years.
Very often on HN and other places when problems come up with cryptocurrencies (like another scam implodes) defenders are quick to point out “yes but there are other uses besides cryptocurrency” or that blockchains will revolutionize tons of industries. Logistics is very frequently mentioned.
This article shows that no, not a single group seems to have succeeded at needing a blockchain in any non-crypto project. The few that might be running hide the blockchain in a central place behind a gateway making it totally superfluous.
Re: I Looked into 34 Top Real-World Blockchain Projects So You Don’t Have To
#103Earlier quoted context omitted.
El Salvador uses it as a government enforced national currency. I struggle to understand how people still make the claim that it's useless or that it's niche - it's a recognized and enforced national currency now, not some neat project.
What a convenient source of liquidity for the various drug cartels in El Salvador who need to launder their money.
What a staggeringly uninformed comment.
Re: I Looked into 34 Top Real-World Blockchain Projects So You Don’t Have To
#104Earlier quoted context omitted.
I'm as skeptical of Bitcoin as anyone, but this is not a very good argument. You'd come to the same conclusion if you evaluated the state of aviation in 1900 or photography in 1820. Even the Internet was useless to the average person in 1982 (13 years in).
None of those cases, however, had anywhere near as much money put into them that early. It may be that, if blockchain technologies had grown in size much, much slower, that good uses would have been found. Regardless, once this much real money (and the resources of electricity, labor, technical expertise, etc. that they represent) have been invested into something, something impressive should have resulted by now.
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Re: I Looked into 34 Top Real-World Blockchain Projects So You Don’t Have To
#105I 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.
It’s interesting giving attribution of crime to Bitcoin and not the internet or hackers. The internet has facilitated a staggering amount of crime as well as the fiat currencies of the globe. Let’s suppose this 14billion dollar number of Bitcoin crime is right … https://www.coindesk.com/tech/2022/01/06/crypto-crime-hit-an... Global credit card fraud hit 32billion in 2021 - https://chargebacks911.com/credit-card-fraud…
> The internet has facilitated a staggering amount of crime as well as the fiat currencies of the globe.
Sure, but both the internet and fiat currencies have facilitated a huge amount of legitimate activities, far, far more than crime. I would assert that the vast majority of users of Bitcoin (>90%) are either speculators or criminals (the vast majority of that majority being speculators, with some small but significant minority being criminals).
> Let’s suppose this 14billion dollar number of Bitcoin crime is right [...] Global credit card fraud hit 32billion in 2021
Those numbers are meaningless without comparing them to the total monetary value of transactions pushed through them yearly. I suspect you'll find that, when talking about percent of total, Bitcoin fraud is higher than credit card fraud (and I would suspect that's still true if you consider other kinds of fraud in addition to CC fraud).
> surely you aren’t suggesting Bitcoin is worthless and only provides a mechanism for crime.
I'm not the person you're replying to, but I would suggest exactly that. The vast majority of Bitcoin use is either speculation or crime. And speculation basically destroys it as a stable store of value, which is something that's essential for a currency. Sure, there are people using it for legitimate purposes, or to get around unjust currency controls perpetrated by their governments. But I'd wager that's a tiny percentage of users, and they do so at great risk, both legally and financially.
> As for investment risk. Check Netflix stock ytd or for that matter Enron. Or the entire bank crisis of 2008. Is Bitcoin really deserving of this much attention?
Yes, absolutely. Your average person should not be investing in individual stocks. They should have the bulk of their investment assets in index funds, or at most, actively-managed funds.
Regarding specific company stocks, sure, you can always cherry-pick examples that did worse than Bitcoin. That doesn't prove anything, though. Regardless, looking at the all-time history of BTC does not inspire confidence in it as an investment, especially were I to consider opening a position today.
Re: I Looked into 34 Top Real-World Blockchain Projects So You Don’t Have To
#106Earlier quoted context omitted.
Could have had similar effect by holding any other currency that isn’t equally hyper inflating. Like the USD
You obviously have never suffered in a country with stringent exchange controls.
Are you stating that you actually have, or speculating that bitcoin must help such people?
Re: I Looked into 34 Top Real-World Blockchain Projects So You Don’t Have To
#107Earlier quoted context omitted.
El Salvador uses it as a government enforced national currency. I struggle to understand how people still make the claim that it's useless or that it's niche - it's a recognized and enforced national currency now, not some neat project.
What a convenient source of liquidity for the various drug cartels in El Salvador who need to launder their money.
Yes, so convenient that over a decade after its inception, still well over 95% of the black market operates in fiat instead.
Re: I Looked into 34 Top Real-World Blockchain Projects So You Don’t Have To
#108Earlier quoted context omitted.
Sadly many countries have currency controls that prevent that.
… and that means that if cryptocurrencies ever see notable adoption, those same currency controls will be expanded to cover it. There's this popular mythology that cryptocurrencies are immune to regulation but in reality it's just that most countries don't spend time regulating things which aren't widely used. If that changes, cryptocurrencies are perfect for those governments to enforce since the public ledgers prov…
That is the whole point of bitcoin. There is no entity that can prevent you from using it.
Anyone can say you are not allowed, but enforcing it is impossible in practice.
Re: I Looked into 34 Top Real-World Blockchain Projects So You Don’t Have To
#109Earlier quoted context omitted.
El Salvador uses it as a government enforced national currency. I struggle to understand how people still make the claim that it's useless or that it's niche - it's a recognized and enforced national currency now, not some neat project.
What a convenient source of liquidity for the various drug cartels in El Salvador who need to launder their money.
Why would they use a public, transparent ledger to launder money?
Re: I Looked into 34 Top Real-World Blockchain Projects So You Don’t Have To
#110> Algorand, Gemini & Circle: Crypto only > Not real-world projects. As discussed in the introduction, I am only discussing projects that have real-world effects outside of cryptocurrency balances. Gemini, Circle as exchanges, and Algorand as a Blockchain implementation, don’t qualify here – they don’t actually add real-world utility other than moving tokens around. Interesting take. These are very different "projects…
for example lofty.ai (tokenized real-estate investing)
Agree, IIRC this is a YC baby as well and will easily be a $1-10B startup over the next 5-10 years. They have unfortunately become less generous with fees since launch but the core product is still extremely solid. Probably should just keep my mouth shut because homes move so quickly now, but that wouldn't be in the spirit of SV.