71–80 of 310 posts
I have a fetish for watching complicated court cases play through. What you realize is a judge in a courtroom has a lot of power. They can take your money, freedom or even kids. However, if I had few hundred thousand in Ethereum encrypted placed into a few random anonymous git hub repros, well, the government can't take it. It is truly yours. No one can take it. That must be horrifying proposition for (some) governme…
Earlier quoted context omitted.
Metaphors are not as useful as historical analogies or actual descriptions of what is going on. Basically, a new form of fast finance has emerged, connected with a blockchain technology which enables the financing mechanism as well as potential applications that are financed. It is not monopoly money as much as it is speculative vendor financing.
It is not Monopoly money, it is... >decks out Monopoly money with a bunch of smart-sounding technological bells and whistles ...ephemeral hyper-velocity funny money!
I am amazed that in 2017, there is still people qualifying Bitcoin or Ethereum of ponzi schemes. Crypto currencies have a lot of problems (technical, economical, philosophical, ICO are insanes) but saying they are ponzi schemes is plain wrong. And it just takes 5 minutes of reading on Ponzi Schemes signs and basic knowledges of how those currencies work to understand why.
I'm sorry but this is so absurd. They are doing the equivalent of printing their own monopoly money in the garage and then selling it for real currency... dollars.
Blockchain is perhaps the most economically important invention of the last 500 years. Right now the whole space is worth less than $100B, and it's going to be worth tens or hundreds of trillions of dollars. Obviously valuations have far outpaced the present usefulness of these technologies, but because the pie is so enormous it would be irrational not to overpay. Right now prices are too out-of-whack with reality so…
Holy cow are you serious? The most economically important in the last 500 years?
So the steamship, the airplane, the automobile, the railroad, the telephone, the printing press, nuclear power, vaccinations, electricity, radio, radar, the semiconductor, television, the cell phone, penicillin, the Gregorian calendar, pasteurization, the refrigerator, the microscope, the telescope, electric lighting, the transistor, the Internet, the microprocessor, and pretty much everything that makes modern life possible is somehow less important than the block chain?
Even is you limit this to just banking, you have widespread checking, credit cards, credit reporting, interbank transfers, wire transfers, mortgage lending, and more. And the blockchain is more important than all of those?
I get it. *coins are cool, but it has a LONG way to go to even be in the in the same league as the greatest inventions of the last 500 years. Let's reasses this in 50 years or so and see where we are before declaring blockchains more important than penicillin. :)
I have a fetish for watching complicated court cases play through. What you realize is a judge in a courtroom has a lot of power. They can take your money, freedom or even kids. However, if I had few hundred thousand in Ethereum encrypted placed into a few random anonymous git hub repros, well, the government can't take it. It is truly yours. No one can take it. That must be horrifying proposition for (some) governme…
How do you turn eth into spendable money without a bank account?
I have a fetish for watching complicated court cases play through. What you realize is a judge in a courtroom has a lot of power. They can take your money, freedom or even kids. However, if I had few hundred thousand in Ethereum encrypted placed into a few random anonymous git hub repros, well, the government can't take it. It is truly yours. No one can take it. That must be horrifying proposition for (some) governme…
And if you go hide a few million bucks in cash in the middle of a desert, they can't take it either. The hard part has always been getting it out and not getting caught. Nothing is truly yours.
Anyone have a resource on the technical aspect of this? Seems like these businesses create their own cryptocurrency? Or build it on top of Ether?
You can easily do it in an hour or two by copying and pasting some code off the ethereum site. They encourage it. I like to think of ethereum as a ponzi scheme which spawns ponzi schemes (some of which themselves are intending to be a new platform for generating currencies...) https://www.ethereum.org/token
Wait until amazon offers its own coin...that is when the mainstream will happen and if these much less know are able to pull this valuation the legitimacy and hype will many x when amazon does it. They have already tested the waters with https://www.amazon.com/gp/feature.html?docId=1001166401
I am amazed that in 2017, there is still people qualifying Bitcoin or Ethereum of ponzi schemes. Crypto currencies have a lot of problems (technical, economical, philosophical, ICO are insanes) but saying they are ponzi schemes is plain wrong. And it just takes 5 minutes of reading on Ponzi Schemes signs and basic knowledges of how those currencies work to understand why.
To be fair, Ethereum looks like a scheme of some kind (not Ponzi necessarily). The vast majority of the ether is controlled by a single company, which is literally just selling it for money. ... I get the other advantages to Ethereum, but it's not Bitcoin where there is actually a distributed number of people managing it.
Are you sure you're talking about Ethereum, and not Ripple? The vast majority of ether is not controlled by one company.
Earlier quoted context omitted.
The British East India Company was able to do this; they issued their own currency at various times. I'm not sure we'll ever see a company with that kind of temporal power again, though.
Amazon Coins? (I'm only half joking)
I don't think Amazon is planning on a standing army or navy yet, however