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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

#161

Post by stevenjgarner »

kelnos wrote: post #141
stevenjgarner wrote: post #98

Earlier quoted context omitted.

Crypto is not about investing, its about payments. "Almost 25% of US Cross-Border Remittance Senders Use Crypto" [0] [0] https://news.ycombinator.com/item?id=32291999

Cool, but the grandparent was specifically talking about inflation hedging, not about payments. Regardless, the article you link does not actually claim what the title says it claims: > PYMNTS research reveals that many consumers (24%) see the option to send funds in cryptocurrency as a key motivator in choosing a payment services provider (PSP), in fact. That does not mean 24% of cross-border payments are made in cr…

> the grandparent was specifically talking about inflation hedging, not about payments

Their assertion:

> There are a lot of much better assets to buy as an inflation hedge

.. was in indirect response to a parent comment:

> 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 think clarifying that there is a material population of crypto users who use Bitcoin as a currency not an investment is material in this context?

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

#163

Post by WaitWaitWha »

spicymaki wrote: post #132
toolz wrote: post #87

Earlier 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.

Is bitcoin an investment or a currency? I don't think it can be both. If the value of bitcoin as speculative asset is going to rise, then it is best to not spend it, but to hoard it. If everyone is hoarding bitcoin how can you use it to buy things? If it is a currency then it needs to have a stable value. If the value stabilizes, then no one will want to invest in it. Since it does not have any "real" commodity value…

Is there not an entire currency speculation market? [0]

> When speculative investing involves the purchase of a foreign currency, it is known as currency speculation. In this scenario, an investor buys a currency in an effort to later sell that currency at an appreciated rate, as opposed to an investor who buys a currency in order to pay for an import or to finance a foreign investment.

[0] https://www.investopedia.com/terms/s/speculation.asp

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

#164

Post by kelnos »

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).

Aviation, photography, and the internet required huge investments in developing and building new hardware and infrastructure. All of that is difficult and takes a lot of time. Bitcoin just requires some not-particularly-novel software, plus either commodity hardware or trivial-to-design custom hardware, plus a shit-ton of electricity to burn.

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

#166

Post by tresqotheq »

lambic2 wrote: post #74
Fargoan wrote: post #27

Earlier quoted context omitted.

What do you think is wrong with gambling?

It doesn't provide any value for society. Maybe a bit of entertainment, along with destroying some people's lives (problem gamblers). It basically just syphons away money from individuals to corporations while not providing much in return.

It provides return to people who like it. It does not have to provide value to the "whole society" (which really mean, it does not provide a value to "me") to justify its existence.

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

#167

Post by [deleted] »

tremarley wrote: post #138
acdha wrote: post #125

Earlier quoted context omitted.

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,…

Bitcoin and crypto has an immediate, obvious value that was previously held back by technology. Similar to the rest of the examples you've listed. We live in an age where we are forced to own nothing and be happy. Bitcoin, Blockchain and crypto solves this.

[deleted]

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

#168

Post by sytelus »

I used to think that Bitcoin has no assets underneath it like all experts says. However, I have changed my views. There are ultra-libertarian type folks who will rather risk tremendous losses than give in to their principles. These are probably 5-10% of the folks in US. Then there are people hit by a corrupt governments and high inflation (> 20% yoy). These are probably a 5-10% of folks. This IS the “assets” underneath bitcoin. In all, I think the value of Bitcoin eventually stabilize at around 1% of world GDP eventually given these reasons (regardless of it’s actual utility to make transactions). This comes down to about $40k per Bitcoin in 2020 money. It would obviously not wise to not sell if it ever reaches 5X of this or $200k in 2020 money.

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

#169

Post by gotbeans »

tremarley wrote: post #138
acdha wrote: post #125

Earlier quoted context omitted.

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,…

Bitcoin and crypto has an immediate, obvious value that was previously held back by technology. Similar to the rest of the examples you've listed. We live in an age where we are forced to own nothing and be happy. Bitcoin, Blockchain and crypto solves this.

You forgot to explain how

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

#170

Post by Scoundreller »

toolz wrote: post #93
readams wrote: post #54

Earlier quoted context omitted.

There are a lot of much better assets to buy as an inflation hedge.

If you live in a wealthy country, yes, but if you have limited bank access and consequently likely a country with unstable fiat, which assets would you suggest are more stable for long term holding? Certainly not physical assets, as people without banking access aren't likely to have vaults or some way to protect something like gold.

Usually in stone (buildings/sheds), farmland, or readily usable goods that keep well/provide value (rice, dry beans, generator, fridge).

Sucks if you need to run though. But usually if you're wealthy in an unwealthy/poorly banked country and can't leave for some reason, you keep your assets in the place you'd run to if you really had to.

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