Line Launches Its First Cryptocurrency 'Link'
linecorp.com
Line Launches Its First Cryptocurrency 'Link'
1–10 of 24 posts
Re: Line Launches Its First Cryptocurrency 'Link'
#2I wonder why all the new crypto projects are so complex.
When Bitcoin was invented, it was already a pretty complex solution to a problem that indeed should be tackled with new technology: Make payments easier and more independent of third parties.
So far, Bitcoin has not achieved this well. Yet, I think there will be technology that does.
But all those new projects are super complex. As if it is already time to build whole new ecosystems on top of the crypto tech we have.
But we don't have very useful technology yet.
Re: Line Launches Its First Cryptocurrency 'Link'
#3I wonder why all the new crypto projects are so complex. When Bitcoin was invented, it was already a pretty complex solution to a problem that indeed should be tackled with new technology: Make payments easier and more independent of third parties. So far, Bitcoin has not achieved this well. Yet, I think there will be technology that does. But all those new projects are super complex. As if it is already time to buil…
So you're saying a technology that has spawned a new market doing volume to the tune of $500 million per day is 'not very useful'? I disagree.
Anyway, a lot of the complexity in this space is indeed over-engineering and me-too engineering for problems that are already solved but that need to be 'customized' ever so slightly. In LINE's case they want the tech to line up with their business model so just forking Bitcoin is not necessarily an option for them (though perhaps they are using it on the backend or in some aspect of their architecture / accounting system).
Maybe their new system will fail, maybe it won't - but definitely if they are doing anything close to Bitcoin volume I wouldn't write it off as failure.
Re: Line Launches Its First Cryptocurrency 'Link'
#4I wonder why all the new crypto projects are so complex. When Bitcoin was invented, it was already a pretty complex solution to a problem that indeed should be tackled with new technology: Make payments easier and more independent of third parties. So far, Bitcoin has not achieved this well. Yet, I think there will be technology that does. But all those new projects are super complex. As if it is already time to buil…
So you're saying a technology that has spawned a new market doing volume to the tune of $500 million per day is 'not very useful'? I disagree. Anyway, a lot of the complexity in this space is indeed over-engineering and me-too engineering for problems that are already solved but that need to be 'customized' ever so slightly. In LINE's case they want the tech to line up with their business model so just forking Bitcoi…
> So you're saying a technology that has spawned a new market doing volume to the tune of $500 million per day is 'not very useful'?
Well, actually that's pretty obvious. Most of the volume you speak of is just trading. Trading isn't very useful, especially when it's just speculations on speculations on virtual things that nobody really trusts enough to actually go whole-hog on.
Re: Line Launches Its First Cryptocurrency 'Link'
#5Sounds like a lot of hot air. There's a lot written about how some new companies are going to encourage LINK use and reward the users (doesn't exactly sound very decentralized), and then a bunch of vague lines about how LINK can be used to incentivize users of decentralized apps (dApps) of every possible category. Nothing specific about those dApps though. Where do they run? Ethereum? A brand new blockchain with its own vm and language? Systems that focus on just a single of those categories have had a lot of hard technical problems in being decentralized, but LINK is going to accomplish all of those?
New cryptocurrency press releases that read like press releases and spend all the time talking about company partnerships rather than the difficulties and trade-offs of decentralization almost always end up being pump-and-dump schemes in my experience.
Re: Line Launches Its First Cryptocurrency 'Link'
#6Earlier quoted context omitted.
So you're saying a technology that has spawned a new market doing volume to the tune of $500 million per day is 'not very useful'? I disagree. Anyway, a lot of the complexity in this space is indeed over-engineering and me-too engineering for problems that are already solved but that need to be 'customized' ever so slightly. In LINE's case they want the tech to line up with their business model so just forking Bitcoi…
> So you're saying a technology that has spawned a new market doing volume to the tune of $500 million per day is 'not very useful'? Well, actually that's pretty obvious. Most of the volume you speak of is just trading. Trading isn't very useful, especially when it's just speculations on speculations on virtual things that nobody really trusts enough to actually go whole-hog on.
Nobody really uses the internet, most of the traffic you speak of is just usenet boards and people pirating books. The internet isn't very useful especially when you can get all the information you need at the library. Nobody really trusts all these servers in different locations, it's to slow to actually go whole-hog on anyway.
Re: Line Launches Its First Cryptocurrency 'Link'
#7I wonder why all the new crypto projects are so complex. When Bitcoin was invented, it was already a pretty complex solution to a problem that indeed should be tackled with new technology: Make payments easier and more independent of third parties. So far, Bitcoin has not achieved this well. Yet, I think there will be technology that does. But all those new projects are super complex. As if it is already time to buil…
> […] Make payments easier and more independent of third parties.
>
> So far, Bitcoin has not achieved this well.
The second goal is achieved spot on, it was one of the main reasons why Bitcoin was created in the first place.
The first goal, well, that one is a bit more complicated. What's missing are good apps with decent UX. Though keep in mind that wallet apps should be seen as something separate from the bitcoin protocol. The protocol is solid, proven, it's here to stay. What needs to improve are the apps. And out of the many apps. I usually recommend coinbase app. It's still the easiest way to get started (buy crypto using fiat), even if it's developed by a third-party.
Re: Line Launches Its First Cryptocurrency 'Link'
#8I wonder why all the new crypto projects are so complex. When Bitcoin was invented, it was already a pretty complex solution to a problem that indeed should be tackled with new technology: Make payments easier and more independent of third parties. So far, Bitcoin has not achieved this well. Yet, I think there will be technology that does. But all those new projects are super complex. As if it is already time to buil…
So you're saying a technology that has spawned a new market doing volume to the tune of $500 million per day is 'not very useful'? I disagree. Anyway, a lot of the complexity in this space is indeed over-engineering and me-too engineering for problems that are already solved but that need to be 'customized' ever so slightly. In LINE's case they want the tech to line up with their business model so just forking Bitcoi…
a new market doing volume to the
tune of $500 million per day
Re: Line Launches Its First Cryptocurrency 'Link'
#9I wonder why all the new crypto projects are so complex. When Bitcoin was invented, it was already a pretty complex solution to a problem that indeed should be tackled with new technology: Make payments easier and more independent of third parties. So far, Bitcoin has not achieved this well. Yet, I think there will be technology that does. But all those new projects are super complex. As if it is already time to buil…
So you're saying a technology that has spawned a new market doing volume to the tune of $500 million per day is 'not very useful'? I disagree. Anyway, a lot of the complexity in this space is indeed over-engineering and me-too engineering for problems that are already solved but that need to be 'customized' ever so slightly. In LINE's case they want the tech to line up with their business model so just forking Bitcoi…
Creating unscaleable energy wasting ponzi scheme mostly for darknet use is something which I personally call ultimate failure. Maybe not a technical failure, but it is sad chapter in humans history.
Re: Line Launches Its First Cryptocurrency 'Link'
#10Earlier quoted context omitted.
So you're saying a technology that has spawned a new market doing volume to the tune of $500 million per day is 'not very useful'? I disagree. Anyway, a lot of the complexity in this space is indeed over-engineering and me-too engineering for problems that are already solved but that need to be 'customized' ever so slightly. In LINE's case they want the tech to line up with their business model so just forking Bitcoi…
> So you're saying a technology that has spawned a new market doing volume to the tune of $500 million per day is 'not very useful'? Well, actually that's pretty obvious. Most of the volume you speak of is just trading. Trading isn't very useful, especially when it's just speculations on speculations on virtual things that nobody really trusts enough to actually go whole-hog on.
Yep. Trading doesn't create any kind of value by itself. Instead there's (obviously) friction involved, i.e. costs (small or big, doesn't matter, it's necessarily larger than zero). If all there is is trading then it'll all grind down to waste heat after enough time.