The Decentralized Future
blog.ycombinator.com
The Decentralized Future
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Re: The Decentralized Future
#2Happy to answer any follow-up questions here
Re: The Decentralized Future
#3Happy to answer any follow-up questions here
Great article!
Bringing financial inclusion to the billions of unbaked it's the biggest unfulfilled promise of cryptocurrencies.
For it to work it must be engineered on the protocol level for this use case, I think Cardano is trying to solve this problem.
The store of value and savings part it's more or less easy to solve, the big problem is the lending without a stable coin it will be very difficult to implement, big Fiat currencies like the Dollar and the Euro have the powerful backing of a central bank and ultimately the collateralization of all the taxpayers as a protection against high volatility and black swan events, this will be very difficult to implement in crypto, MakerDAO is tring to do it but I don't see it working on a big scale.
Re: The Decentralized Future
#4Happy to answer any follow-up questions here
It's not quite a complete discussion without mentioning the transaction rate/scaling limitations and also Ethereum's sharding approach to this.
Re: The Decentralized Future
#5Happy to answer any follow-up questions here
Are ICOs illegal in the USA?
Re: The Decentralized Future
#6I’ve reacently read the Burnskie book about crypto assets in the hope that I might come away more enlightened about the market and how to assess it. The opposite was the case. After reading the book and looking into it more, it’s very hard to see these things as assets at the moment, or to see much utility in the technology. Don’t get me wrong, there certainly is some and it is certainly ‘cool’, but right now blockhain feels like a solution looking for a problem.
Re: The Decentralized Future
#7I’ve reacently read the Burnskie book about crypto assets in the hope that I might come away more enlightened about the market and how to assess it. The opposite was the case. After reading the book and looking into it more, it’s very hard to see these things as assets at the moment, or to see much utility in the technology. Don’t get me wrong, there certainly is some and it is certainly ‘cool’, but right now blockha…
"Attack of the Fifty Foot Blockchain" and the associated blog is worth a read
Re: The Decentralized Future
#8> I think the same is true with Bitcoin: traditional banking that takes days and charges high fees can be easily implemented on Bitcoin, but the opposite is not true.
"Easily" here seems like major exaggeration. If that were true, projects like Lightning wouldn't exist.
Re: The Decentralized Future
#9Happy to answer any follow-up questions here
I am really looking forward to "The Future of Organizations". I think decentralized governance and consensus is one of the most exciting aspects of these technologies, but are being totally drowned out by the fintech applications in the meantime. Hopefully this article will address some of these possibilities.
Re: The Decentralized Future
#10I’ve reacently read the Burnskie book about crypto assets in the hope that I might come away more enlightened about the market and how to assess it. The opposite was the case. After reading the book and looking into it more, it’s very hard to see these things as assets at the moment, or to see much utility in the technology. Don’t get me wrong, there certainly is some and it is certainly ‘cool’, but right now blockha…
"Attack of the Fifty Foot Blockchain" and the associated blog is worth a read
It was an eye opener for me. Since then I approach the whole field with more caution and skepticism.