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I Looked into 34 Top Real-World Blockchain Projects So You Don’t Have To

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Re: I Looked into 34 Top Real-World Blockchain Projects So You Don’t Have To

#121

Post by homeland221 »

wil421 wrote: post #94
chrisabrams wrote: post #48

Earlier quoted context omitted.

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…

I’ve heard people say this but when I’ve asked people from places like Venezuela they use dollars not bitcoin. Even places with not so good local currency will gladly accept Euros or Dollars instead.

The irony is even those deal in bitcoin, they have to quickly convert to USD now for fear of further drop. Their entire operation involve in converting their cheap electricity (vastly subsidized by their government) to USD with bitcoin as intermediary. And when ask, they only tell the story of their intermediary bitcoin as though as they really by potato eoth bitcoin at their local wet market.

Re: I Looked into 34 Top Real-World Blockchain Projects So You Don’t Have To

#123

Post by MBCook »

rvz wrote: post #17

> Money transfer use-cases would fall directly in the category of “crypto-only”. For as long as Bitcoin has existed, this has been touted as a great use-case — but it never really materialised. So Stellar and MoneyGram are not 'Money Transfer Use Cases' ? [0] If not, why did they partner on this in the first place if they didn't think this was a possible or a feasible use case? On NFTs, Blockchain domains like ENS (E…

The author appeared to be explicitly looking for non-cryptocurrency related Blockchain used cases.

Re: I Looked into 34 Top Real-World Blockchain Projects So You Don’t Have To

#124

Post by [deleted] »

bb88 wrote: post #115
jonas21 wrote: post #70

Earlier 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).

Humans are pretty efficient at screwing each other over, particularly when money is involved. And any technology that allows humans to screw each other over more efficiently should have the deepest skepticism possible. https://web3isgoinggreat.com/ has tracked $10B in losses due to grift. And that doesn't include the losses used to pay off ransomware. Money laundering for good is still money laundering.

[deleted]

Re: I Looked into 34 Top Real-World Blockchain Projects So You Don’t Have To

#125

Post by acdha »

jonas21 wrote: post #70
rzwitserloot wrote: post #38

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.

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).

Those had immediate, obvious value which were held back by the technology: every military in the world wanted flight (remember those Civil War hot air balloons?), as well as things like postal services, etc. There was zero question that as soon as the technology was functionally available, people would buy it. Similarly, the earliest photographs had unquestionable demand but were held back by the technology — again, zero question that people would buy it as soon as that matured.

Finally, the Internet was useful by 1982 — there's a reason why universities, governments, etc. all jumped online and agencies like NSF were funding this to support other research, not just development of TCP/IP, by then. The other big trend to keep in mind are the BBS scene and especially online services like CompuServe (which was already 13 years old by 1982) which had profitable businesses selling access to people who found it was useful to have in their lives for many reasons not related to developing or selling computer networking. Again, there was zero question of demand: computer hardware was expensive and networking was positively usurious but it was clear that growth would accelerate as soon as that changed because normal people found it useful for various parts of their lives.

Cryptocurrencies are different: since these systems rely on the now-pervasive web, most people on the planet have had access immediately. What hasn't happened yet is most of them having a reason to bother with it. Speculation has been the biggest driver but buy-and-hold is toxic to developing a useful currency and few people have built a business or life which depends on it except for gambling like that.

Re: I Looked into 34 Top Real-World Blockchain Projects So You Don’t Have To

#126

Post by kelnos »

chrisabrams wrote: post #48
rzwitserloot wrote: post #38

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…

Like a sibling poster, I hear this a lot too, but I don't see it as all that significant. Or, rather, these are excellent uses, but Bitcoin is a terrible way to accomplish this -- it's just a huge shame that there may not be better options.

An actual currency should have a stable value. Bitcoin will never have a stable value (at least not while it is popular) due to speculation. People who believe Bitcoin is a safer store of value than their country's fiat currency are in dire, dire straits indeed.

I do absolutely agree that people should be free from fear that their currency of choice/necessity should be safe from the possibility of 100-1000% inflation per year, but I wish we could do better than Bitcoin, of all things, as a "solution".

Re: I Looked into 34 Top Real-World Blockchain Projects So You Don’t Have To

#127

Post by lr4444lr »

toolz wrote: post #87
simonw wrote: post #56

Earlier quoted context omitted.

I hear this a lot. I want details: - 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 ha…

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.

It's not enforced. It is legal tender, but the US dollar is still their currency, last I heard.

Re: I Looked into 34 Top Real-World Blockchain Projects So You Don’t Have To

#128

Post by acdha »

toolz wrote: post #87
simonw wrote: post #56

Earlier quoted context omitted.

I hear this a lot. I want details: - 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 ha…

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.

Who's using it? How many people did more than get that free starter wallet and cash out? How many transactions happen daily? How many businesses would notice if Bitcoin dropped off the planet tomorrow?

(Hint: the fact that people were rioting in the streets to _avoid_ it suggests the answer is not many)

Re: I Looked into 34 Top Real-World Blockchain Projects So You Don’t Have To

#129

Post by Phlarp »

plebianRube wrote: post #108
acdha wrote: post #91

Earlier quoted context omitted.

… 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.

Enforcing it is trivial for a sovereign nation that issues it's own currency and collects taxes in that currency.

Just as we've seen; they can regulate the on/off ramps between local currency and crypto.

If you've got a method to turn meaningful amounts of BTC into USD without being subject to KYC regulations; then the US government is probably already building a federal money laundering case against it.

Re: I Looked into 34 Top Real-World Blockchain Projects So You Don’t Have To

#130

Post by drexlspivey »

m3kw9 wrote: post #57
chrisabrams wrote: post #48

Earlier quoted context omitted.

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…

Could have had similar effect by holding any other currency that isn’t equally hyper inflating. Like the USD

Get out of your bubble. Countries with hyper inflation do not allow you to exchange for another currency obviously.
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