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Seems rather rare to me. If a Dotcom type of an event affected bitcoin ecosystem, it would not have recovered - it had millions of participants actively windin

Seems rather rare to me. If a Dotcom type of an event affected bitcoin ecosystem, it would not have recovered - it had millions of participants actively winding up and unwinding positions in real time, which is not something that bitcoin is capable of supporting at this time. If a Housing Bubble type of an event affected bitcoin ecosystem, it would not have recovered. Lots of special purpose leveraged positions needed to be de-leveraged. Something that bitcoin is not capable of supporting. If LTCM type event affected bitcoin ecosystem it would not have recovered. I dont even want to think about the effect of LTCM type event on a bitcoin. All three were absolutely survived by the modern economies.

ujal 9y ago
Sure, but not everyone has the privilege of living in a first world country. See for example the Republic of Georgia utilising blockchain tech to secure real estate transactions [0]. Now I am actually less afraid of investing my money as I don't trust their government. [0] https://www.forbes.com/sites/laurashin/2017/02/07/the-first-government-to-secure-land-titles-on-the-bitcoin-blockchain-expands-project https://www.forbes.com/sites/laurashin/2017/02/07/the-first-...
- notyourday 9y ago
  It uses a distributed public ledger, not bitcoin.
  - ujal 9y ago
    It does use bitcoin to verify the transactions. Point is, bitcoin - currently being the biggest blockchain deployed - is more trustworthy than most governments and therefore most currencies. I am not an economist though and regulations seem to be necessary in the real world. Any ideas as to what technology, giving widespread adoption, would make them obsolete?
    - notyourday 9y ago
      If the claim is that the private data unrelated to bitcoin transactions is being published and verified on a bitcoin blockchain then this is a scam. It is absolutely amazing that the person who wrote this article still has a title of a Senior Editor that claims to write on this topic.
      - ujal 9y ago
        It is possible to hash the data and make that hash part of the transaction [0]. [0] https://arxiv.org/abs/1502.04015 https://arxiv.org/abs/1502.04015
        notyourday 9y ago
        That's not the application, however.

ujal 9y ago

Sure, but not everyone has the privilege of living in a first world country. See for example the Republic of Georgia utilising blockchain tech to secure real estate transactions [0]. Now I am actually less afraid of investing my money as I don't trust their government. [0] https://www.forbes.com/sites/laurashin/2017/02/07/the-first-government-to-secure-land-titles-on-the-bitcoin-blockchain-expands-project https://www.forbes.com/sites/laurashin/2017/02/07/the-first-...

notyourday 9y ago
It uses a distributed public ledger, not bitcoin.
- ujal 9y ago
  It does use bitcoin to verify the transactions. Point is, bitcoin - currently being the biggest blockchain deployed - is more trustworthy than most governments and therefore most currencies. I am not an economist though and regulations seem to be necessary in the real world. Any ideas as to what technology, giving widespread adoption, would make them obsolete?
  - notyourday 9y ago
    If the claim is that the private data unrelated to bitcoin transactions is being published and verified on a bitcoin blockchain then this is a scam. It is absolutely amazing that the person who wrote this article still has a title of a Senior Editor that claims to write on this topic.
    - ujal 9y ago
      It is possible to hash the data and make that hash part of the transaction [0]. [0] https://arxiv.org/abs/1502.04015 https://arxiv.org/abs/1502.04015
      - notyourday 9y ago
        That's not the application, however.