5 ms·

Occam's razor: Crypto tech works, & will be an incremental improvement to a number of areas.

richardknop 9y ago
Yes but that is completely unrelated to price of these tokens which is driven by speculation and has nothing to do with tech. I believe blockchain will be implemented by industries where it is useful and can improve many processes.
- discombobulate 9y ago
  The speculation is driven by the tech. It wouldn't be promising tech if it didn't work. I believe it will change international capital allocation, via token sales. Worldwide investment in the best & brightest.
  - Retric 9y ago
    There is an inherent limitation of using proof of work to back up a store of value. Something needs to pay for that proof of work so either you have high transaction costs or inflation. So, it's easy to have altcoin without speculation. Suppose your alt coin has 4+% inflation / year built into the coin. It could become the worlds main currency without making anyone rich. Adoption would increase because transaction costs could be extremely low promoting it's use for a lot of transactions. EX: Initial adoption would be small purchases like vending machines where CC/other coins have much higher transaction costs. This could extend to things like cheap subscriptions etc, and then work up the value chain until people are using it to pay rent.
    - discombobulate 9y ago
      I don't see a problem with bubbles. As long as the tech works. If people can spend money on alcohol & drink themselves into an early grave, I can't see why speculation should be demonised. 'Value chain' has a specific meaning in business. It's a set of activities done to create a product.
      - Retric 9y ago
        Bubbles are beside the point. I just mean there is a trade off between value store and transaction costs. PS: English is not that restrictive of a language. Speed limit is generally thought in terms of velocity, but you could use those same words to refer to the drug. 'With a dosage entering LD50 territory Jim was clearly approaching the speed limit.'

Yes but that is completely unrelated to price of these tokens which is driven by speculation and has nothing to do with tech. I believe blockchain will be implemented by industries where it is useful and can improve many processes.

discombobulate 9y ago
The speculation is driven by the tech. It wouldn't be promising tech if it didn't work. I believe it will change international capital allocation, via token sales. Worldwide investment in the best & brightest.
- Retric 9y ago
  There is an inherent limitation of using proof of work to back up a store of value. Something needs to pay for that proof of work so either you have high transaction costs or inflation. So, it's easy to have altcoin without speculation. Suppose your alt coin has 4+% inflation / year built into the coin. It could become the worlds main currency without making anyone rich. Adoption would increase because transaction costs could be extremely low promoting it's use for a lot of transactions. EX: Initial adoption would be small purchases like vending machines where CC/other coins have much higher transaction costs. This could extend to things like cheap subscriptions etc, and then work up the value chain until people are using it to pay rent.
  - discombobulate 9y ago
    I don't see a problem with bubbles. As long as the tech works. If people can spend money on alcohol & drink themselves into an early grave, I can't see why speculation should be demonised. 'Value chain' has a specific meaning in business. It's a set of activities done to create a product.
    - Retric 9y ago
      Bubbles are beside the point. I just mean there is a trade off between value store and transaction costs. PS: English is not that restrictive of a language. Speed limit is generally thought in terms of velocity, but you could use those same words to refer to the drug. 'With a dosage entering LD50 territory Jim was clearly approaching the speed limit.'