4 ms·

Would love to hear more on legitimate use cases for blockchain (not being sarcastic) that cannot already be solved by centralized database, merkle trees and/or

by weej 9y ago

Would love to hear more on legitimate use cases for blockchain (not being sarcastic) that cannot already be solved by centralized database, merkle trees and/or public key encryption.

rublev 9y ago
I think they meant that concept behind an ICO are a scam not that blockchain is.
- weej 9y ago
  That's the problem. The investors for ICOs are backing on blockchain as if it's some amazing new innovation that's "going to change the world".
  - mhluongo 9y ago
    It's just an incentive and control plane for other stuff. You still need the other stuff.
    - weej 9y ago
      Yes, and I'm asking for legitimate "other stuff" that applicable for an ICO and/or blockchain. Been waiting for a while on this one.
- notyourday 9y ago
  Blockchain is just a distributed public ledger. That's it. There are very few applications that have properties that can be mapped into a distributed public ledger.
ojr 9y ago
the online gambling market is adopting bitcoin, or do you prefer cashing checks from Taiwan?
- weej 9y ago
  Not sure I'd equate online gambling with legitimate (legal) use case. Even still if legal for use in given location (territory) why not leverage credit card or paypal? Unless you're doing some illegal (e.g. money laundering), there's no need and zero add for cryptocurrency for gambling. I don't need a distributed ledger with block consensus and wasting power computation to carry out a merchangt transaction.
  - mhluongo 9y ago
    There's a large gray middle, eg adult entertainment, where the service is legal but the payment processors charge ridiculous feeds and are unreliable.
  - ojr 9y ago
    think about poker use a centralized server with closed source code shuffle the deck or use code open for all to see on the ethereum blockchain. Also more fair and transparent for auctions.
    - weej 9y ago
      ICO or block chain != open source. Think about a smart contract that has immutable code in it that has a bug regarding shuffling of the deck or misuse/error on financial transfer. There's nothing to think about or do...it's immutable. Once released on ethereum you're out of luck.
      - ojr 9y ago
        it is common practice now to place a function that can self-destruct the contract and start a new one, selfdestruct() is a reserved global function in Solidity, instead of criticizing blindly maybe learn more about writing smart contracts, there are unforeseen flaws in a new open source development platform no surprise there... Think about running an auction and placing bids, I can place a bid and not have the money which can only be resolved in an alley way or a court with us dollars or we can conduct a more open auction and even a blind auction with cryptography on the blockchain, it is also easier for everyone to participant globally without sacrificing the privacy of giving your card information, I don't have anything to hide but would you consider giving a financial company like Equifax your personal information a safe thing?
mhluongo 9y ago
Trustless, double-spend proof payments. Marketplaces for verifiable third party computation. Fair multiparty computation.
- deleted 9y ago
  [deleted]

by weej 9y ago

Would love to hear more on legitimate use cases for blockchain (not being sarcastic) that cannot already be solved by centralized database, merkle trees and/or public key encryption.

rublev 9y ago

I think they meant that concept behind an ICO are a scam not that blockchain is.

weej 9y ago
That's the problem. The investors for ICOs are backing on blockchain as if it's some amazing new innovation that's "going to change the world".
- mhluongo 9y ago
  It's just an incentive and control plane for other stuff. You still need the other stuff.
  - weej 9y ago
    Yes, and I'm asking for legitimate "other stuff" that applicable for an ICO and/or blockchain. Been waiting for a while on this one.
notyourday 9y ago
Blockchain is just a distributed public ledger. That's it. There are very few applications that have properties that can be mapped into a distributed public ledger.

ojr 9y ago

the online gambling market is adopting bitcoin, or do you prefer cashing checks from Taiwan?

weej 9y ago
Not sure I'd equate online gambling with legitimate (legal) use case. Even still if legal for use in given location (territory) why not leverage credit card or paypal? Unless you're doing some illegal (e.g. money laundering), there's no need and zero add for cryptocurrency for gambling. I don't need a distributed ledger with block consensus and wasting power computation to carry out a merchangt transaction.
- mhluongo 9y ago
  There's a large gray middle, eg adult entertainment, where the service is legal but the payment processors charge ridiculous feeds and are unreliable.
- ojr 9y ago
  think about poker use a centralized server with closed source code shuffle the deck or use code open for all to see on the ethereum blockchain. Also more fair and transparent for auctions.
  - weej 9y ago
    ICO or block chain != open source. Think about a smart contract that has immutable code in it that has a bug regarding shuffling of the deck or misuse/error on financial transfer. There's nothing to think about or do...it's immutable. Once released on ethereum you're out of luck.
    - ojr 9y ago
      it is common practice now to place a function that can self-destruct the contract and start a new one, selfdestruct() is a reserved global function in Solidity, instead of criticizing blindly maybe learn more about writing smart contracts, there are unforeseen flaws in a new open source development platform no surprise there... Think about running an auction and placing bids, I can place a bid and not have the money which can only be resolved in an alley way or a court with us dollars or we can conduct a more open auction and even a blind auction with cryptography on the blockchain, it is also easier for everyone to participant globally without sacrificing the privacy of giving your card information, I don't have anything to hide but would you consider giving a financial company like Equifax your personal information a safe thing?

mhluongo 9y ago

Trustless, double-spend proof payments. Marketplaces for verifiable third party computation. Fair multiparty computation.

deleted 9y ago
[deleted]