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> The blockchain is not going to solve the basic issues of human fallibility and gaps in trust Yet here we are. With a globally traded decentralized token. Wha

> The blockchain is not going to solve the basic issues of human fallibility and gaps in trust Yet here we are. With a globally traded decentralized token. What more evidence do you need that “the game has changed”?

setr 9y ago
Time; the coin sees little use in any fundamental market. If it were to crash and vanish tomorrow, relatively little would be affected. It's difficult to claim "Something has changed the game", if it can't even accomplish being noticable in its absence. It exists, and it can sometimes be used, and some people think it will be used. Thats about all you can say about it.
- smokeyj 9y ago
  I'm speaking broadly to decentralized "blockchains". If any or all were to crash a new one will replace it. In that sense the cat is out of the bag and "the game has changed". It doesn't matter if any websites from the 90's still operates, the internet was a game changing invention regardless of when mass adoption took place.
  - setr 9y ago
    Well no, bitcoins current value is clearly primarily based on speculation, and distinctly divorced from its value in usage. If it vanished tomorrow, and was replaced, the new coin will likely not reach the same height as bitcoin; its speculative valuation would vanish, and it would reach merely bitcoins true value (based on its utility). And its true value is likely quite low; at least nowhere near where its at today. That is, bitcoin doesn't yet justify its own existence. A new one will replace it, but hardly out of necessity, rather simply because it is trivial to do so. If its existence was suddenly erased, few systems would be affected (mostly layer 1 actors, those directly associated with bitcoin: miners, coin devs, a few startups, etc) and most corrected quite quickly. there's not yet a true dependency on cryptocoins or blockchaind; the game is the almost exactly the same as it was with or without the bitcoin paper. Its not yet changed.
    - smokeyj 9y ago
      > If it vanished tomorrow, and was replaced But it won’t vanish. I’m still waiting. If you can make bitcoin vanish I’d give you some credibility. Until then you’re amongst a sea of journalists declaring the death of crypto. I’m waiting for it and I mean that sincerely. Yet here we are.
      - setr 9y ago
        What in the hell are you going on about? Im just talking about whether or not you should call it "game changing". Vanishing bitcoin is just a hypothetical.
        smokeyj 9y ago
        http://blog.ycombinator.com/building-for-the-blockchain/ http://blog.ycombinator.com/building-for-the-blockchain/ The phrase "paradigm shift" seems to be thrown around quite a bit ;)
rosser 9y ago
More meaningful use than speculation, drugs, and money laundering?

setr 9y ago

Time; the coin sees little use in any fundamental market. If it were to crash and vanish tomorrow, relatively little would be affected. It's difficult to claim "Something has changed the game", if it can't even accomplish being noticable in its absence. It exists, and it can sometimes be used, and some people think it will be used. Thats about all you can say about it.

smokeyj 9y ago
I'm speaking broadly to decentralized "blockchains". If any or all were to crash a new one will replace it. In that sense the cat is out of the bag and "the game has changed". It doesn't matter if any websites from the 90's still operates, the internet was a game changing invention regardless of when mass adoption took place.
- setr 9y ago
  Well no, bitcoins current value is clearly primarily based on speculation, and distinctly divorced from its value in usage. If it vanished tomorrow, and was replaced, the new coin will likely not reach the same height as bitcoin; its speculative valuation would vanish, and it would reach merely bitcoins true value (based on its utility). And its true value is likely quite low; at least nowhere near where its at today. That is, bitcoin doesn't yet justify its own existence. A new one will replace it, but hardly out of necessity, rather simply because it is trivial to do so. If its existence was suddenly erased, few systems would be affected (mostly layer 1 actors, those directly associated with bitcoin: miners, coin devs, a few startups, etc) and most corrected quite quickly. there's not yet a true dependency on cryptocoins or blockchaind; the game is the almost exactly the same as it was with or without the bitcoin paper. Its not yet changed.
  - smokeyj 9y ago
    > If it vanished tomorrow, and was replaced But it won’t vanish. I’m still waiting. If you can make bitcoin vanish I’d give you some credibility. Until then you’re amongst a sea of journalists declaring the death of crypto. I’m waiting for it and I mean that sincerely. Yet here we are.
    - setr 9y ago
      What in the hell are you going on about? Im just talking about whether or not you should call it "game changing". Vanishing bitcoin is just a hypothetical.
      - smokeyj 9y ago
        http://blog.ycombinator.com/building-for-the-blockchain/ http://blog.ycombinator.com/building-for-the-blockchain/ The phrase "paradigm shift" seems to be thrown around quite a bit ;)

rosser 9y ago

More meaningful use than speculation, drugs, and money laundering?