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It’s not still the early days of blockchain

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Re: It’s not still the early days of blockchain

#231

Post by rileyphone »

hubraumhugo wrote: post #33

I'm still very opposed to the idea of taking a technology and then searching a problem for it. Why? Back in 2017 during the first hype cycle, blockchain companies raised hundreds of millions with ICOs. I became very interested in the technology too, and some friends still work in this space. 4 years later in the web3 era, there is not a single product aside from trading/finance that got traction. Use cases like stori…

Blockchain is proving a more than capable solution in the ransomware payments space, enabling a whole new class of malware.

Re: It’s not still the early days of blockchain

#232

Post by Daishiman »

smokey_circles wrote: post #197
magicjosh wrote: post #69

Earlier quoted context omitted.

For a pyramid scheme that certainly holds up. Whoever joins last seems most incentivized to bring others in. Has anyone modeled pyramid scheme dynamics to Bitcoin perhaps at an academic level? (Disclosure I own Bitcoin and Ethereum)

I don't understand how bitcoin is a ponzi scheme. There's no pyramid shape, which is kind of crucial. "Just look at the whales" uh huh, you mean like the dollar? It's just a value store. Debating the efficacy of the value store is fine, labeling it a ponzi scheme seems reductive to absurdity. The real problem (unsurprisingly) is with fiat currencies. These are heavily regulated, nearly made up values. That crash, oft…

The fiat currency whataboutism as a defense of crypto is the most tired and ignorant pedantry I can think of.

Re: It’s not still the early days of blockchain

#233

Post by heroiccocoa »

hubraumhugo wrote: post #33

I'm still very opposed to the idea of taking a technology and then searching a problem for it. Why? Back in 2017 during the first hype cycle, blockchain companies raised hundreds of millions with ICOs. I became very interested in the technology too, and some friends still work in this space. 4 years later in the web3 era, there is not a single product aside from trading/finance that got traction. Use cases like stori…

Then you should be opposed to most basic (theoretical computer) science and mathematics research too that doesn't have any immediately apparent application.

The scientific research to engineering pipeline is the backbone of our rapid technological progress. Basic research can target unexplored areas in a more organized fashion, allocating resources properly instead of industry's ad-hoc approach. Sort of like breath first instead of depth first. Industry will waste resources solving just their own individual instances of a mini-problem one by one resulting in a total resource consumption that is greater than what academia would have used in solving the overarching problem.

Re: It’s not still the early days of blockchain

#234

Post by mirzap »

unityByFreedom wrote: post #221
mirzap wrote: post #200

Well, 10y ago is not ages ago. Email existed for 30 years before it was ready for consumers. Same is with the internet. Certain types of technologies require decades research and development. I would argue that in 20 years it will still be "early days" of blockchain. And only in mid 40 we will figure out apps and who nows what to fully utilize underlining technology. Right now we are just coping what we have outside…

Email required everyone to have a computer, plus infrastructure to connect them. Blockchain has been waiting on a useful implementation since inception.

No. Email didn't have useful implementation (UI) until 30y after it was invented. Only geeks and tech savy people were able to use it because it was not so easy to use. Sending messages was really hard, sending would often fail. So you would say, 25y after email inception there was no useful implementation and no usage by consumers, so technology is worthless. And there were people who were saying that, I'm sure. Same was with the internet.

Re: It’s not still the early days of blockchain

#235

Post by spiderice »

Dwolb wrote: post #179
hunterb123 wrote: post #157

Earlier quoted context omitted.

Tipping site owners, BAT token. Incentivizing IPFS content pinning, Filecoin. Allowing censorship-resistant / chargeback free donations, most coins. Enabling private transactions, Monero. Most "dapps" empower decentralization, distributed exchanges, trading, DNS, ownership contracts (DOAs), etc. NFT's for art as silly as it is, more importantly for Handshake domain names and other cases where ownership proof comes in…

A cool example of NFT innovation is programmable royalty fees. Those fees can be directed back to the creator, the community, a DAO treasury. Configurations are infinite.

If I'm understanding what you're referring to, this is one of the worst part of NFTs. How is it any different than me having to pay Ford a royalty when I sell my used car on Craigslist? It's such a toxic feature for consumers. Sure, when used correctly it could be cool to help creators or whatever. It will absolutely be abused. It already is being abused by scammers who create NFTs that can't be sold.

Re: It’s not still the early days of blockchain

#236

Post by bbddg »

bobsomers wrote: post #145
bryanrasmussen wrote: post #22

Earlier quoted context omitted.

>To be explicit, the reason blockchains exist is to have a globally consistent database that doesn’t require trusting the operator. which I mean when I think of that I think - that would be really useful for crime because you don't want to trust the operator because either 1. they're a narc 2. they're a criminal. it's also useful for currency because not trusting the operator allows you to keep them from turning into…

I'll be honest, I find the "blockchain is for crime" argument to be worn out in 2022. It feels a lot like "think of the children". Of course blockchains can be used for crime, almost anything can. In fact, if you want the preferred currency of criminals the world over, look no further than the US Dollar. Most organizations, governments, businesses, etc. start with plenty of trust to go around. There's no reason to in…

The difference is that I'd imagine a substantial portion of the activity in crypto is related to crime. Whereas the entire global economy runs on USD.

Re: It’s not still the early days of blockchain

#237

Post by obstacle1 »

ique wrote: post #199
hubraumhugo wrote: post #33

I'm still very opposed to the idea of taking a technology and then searching a problem for it. Why? Back in 2017 during the first hype cycle, blockchain companies raised hundreds of millions with ICOs. I became very interested in the technology too, and some friends still work in this space. 4 years later in the web3 era, there is not a single product aside from trading/finance that got traction. Use cases like stori…

The idea that blockchain tech is somehow invented out of nothing and then we search for a problem to match couldn't be further from the truth. Talk to anyone who works in the industry and they're trying to solve a problem. I used to work in blockchain tech and the main problem I was focused on was "How do we prevent internet monopolies like Facebook and Google?". If you don't see those monopolies as a problem, then y…

> Talk to anyone who works in the industry and they're trying to solve a problem.

Sure. But are those problems worth solving? How many VCs does the world need to pump cash into NFT-enabled video games before we ask the question, "why?"

https://techcrunch.com/2021/09/22/nba-top-shot-creator-dappe...

Re: It’s not still the early days of blockchain

#238

Post by j4yav »

mizzao wrote: post #54

How's this any different than the typical technology hype and adoption cycle? Perhaps we are just at the "peak of inflated expectations" right now, and are about to dive into the "trough of disillusionment". https://setandbma.files.wordpress.com/2012/05/technology-ado... This certainly happened with AI at least twice... remember the AI summers of 1970 and 2010 and the AI winters in between...before certain applicatio…

Why would people want to be able to sell unique receipts of having acquired their diplomas to each other?

Re: It’s not still the early days of blockchain

#239

Post by hunterb123 »

throwawaygh wrote: post #184
hunterb123 wrote: post #157

Earlier quoted context omitted.

Tipping site owners, BAT token. Incentivizing IPFS content pinning, Filecoin. Allowing censorship-resistant / chargeback free donations, most coins. Enabling private transactions, Monero. Most "dapps" empower decentralization, distributed exchanges, trading, DNS, ownership contracts (DOAs), etc. NFT's for art as silly as it is, more importantly for Handshake domain names and other cases where ownership proof comes in…

> chargeback free donations Are chargebacks on donations are major issue for any legitimate non-profit organization?

Virtual game currencies, controversial politics, porn, gambling etc.

Basically anything Stripe / PayPal locks your account for and considers you high risk or CC companies block.

Re: It’s not still the early days of blockchain

#240

Post by onion2k »

mirzap wrote: post #200

Well, 10y ago is not ages ago. Email existed for 30 years before it was ready for consumers. Same is with the internet. Certain types of technologies require decades research and development. I would argue that in 20 years it will still be "early days" of blockchain. And only in mid 40 we will figure out apps and who nows what to fully utilize underlining technology. Right now we are just coping what we have outside…

we now can't imagine how Bitcoin and blockchain will transform our business and life in the future

40 years ago people on the cutting edge of tech had VHS video recorders to record broadcast TV. The tech grew slowly, became the dominant standard, and after 15 years in the mid-90s they were everywhere. 25 years later no one has one, or wants one, or even has an equivalent.

Don't assume too much about the future based on the present. Things can change in strange and unexpected ways.

I'm not saying Bitcoin and blockchain won't be around in 2040. They may well be. I'm saying current trends aren't a particularly good predictor of the future. They're wrong more often than they're right.

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