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I'm sure there are some niches where it maybe useful Like a worldwide instantaneous transfer payment and a currency competing with an over-regulated financial

I'm sure there are some niches where it maybe useful Like a worldwide instantaneous transfer payment and a currency competing with an over-regulated financial system and central banks ? What a small niche indeed.

Sangermaine 9y ago
No, that would be one of those religious fantasies since the reality of blockchain technology has certainly not played out in this manner at all. But don't lose faith, brother, the Kingdom awaits one day.
- ttoinou 9y ago
  Arguments ?
adadad3442 9y ago
I'm sure we could figure out a way to use carrots as a building material, but I'm still going to use steel.
- ttoinou 9y ago
  How do you know which one is better if you don't know how to build a house or don't have dozens of year of human knowledge and praxis that confirms that this material is better ?
openmosix 9y ago
"instantaneous" => it is faster for me to send a payment via venmo, than waiting 24h on a congested bitcoin network. "currency" => I thought Bitcoin at this point is done as a currency. Merchants have dropped it, payment processors (Stripe) have let it go. The next best use case is "store of value", but even there, with a volatility of +/- 50% in 60 days, I doubt that.
- ttoinou 9y ago
  Talking about blockchain, not bitcoin (which already have good competition)
georgeecollins 9y ago
I think the point of the article (perhaps wrong) is that blockchain is a terrible solution instantaneous transfer because it is slower and less secure than other solutions.
tigershark 9y ago
Like a broken payment system that takes hours for a confirmation, north of 50$ of commission even if you are transferring a single cent, instantaneous theft of hundred of millions USD and countless hard forks? I would say I’m very, VERY lucky of not being part of this small niche that apparently burns more electricity than me, my children, my grandchildren and so on until the 50th generation and over...
- ttoinou 9y ago
  Talking about blockchain here, not bitcoin (which already have really good competition) that apparently burns more electricity than me, my children, my grandchildren and so on until the 50th generation and over So you are going to get ride of every electricity consuming technology you have and get back living in a cavern ? Have you computed the amount of electricity consumed by the actual financial system, payment systems and banks ?
RestlessMind 9y ago
Here is why I cannot see bitcoin becoming a "currency" - lack of a central authority which can enforce stability on its value. If a loaf of bread is going to cost 1 milli-btc today and 2 milli-btc tomorrow, that will simply wreak havoc in the society. Most folks just want a stable predictable life with as little volatility as possible. Say what you want about modern central bankers, they have kept things mostly stable. 2008 crash was the worst thing happened on their watch, which is mild in comparison to other horrors of the past (like great depression).

Sangermaine 9y ago

No, that would be one of those religious fantasies since the reality of blockchain technology has certainly not played out in this manner at all. But don't lose faith, brother, the Kingdom awaits one day.

ttoinou 9y ago
Arguments ?

adadad3442 9y ago

I'm sure we could figure out a way to use carrots as a building material, but I'm still going to use steel.

ttoinou 9y ago
How do you know which one is better if you don't know how to build a house or don't have dozens of year of human knowledge and praxis that confirms that this material is better ?

openmosix 9y ago

"instantaneous" => it is faster for me to send a payment via venmo, than waiting 24h on a congested bitcoin network. "currency" => I thought Bitcoin at this point is done as a currency. Merchants have dropped it, payment processors (Stripe) have let it go. The next best use case is "store of value", but even there, with a volatility of +/- 50% in 60 days, I doubt that.

ttoinou 9y ago
Talking about blockchain, not bitcoin (which already have good competition)

georgeecollins 9y ago

I think the point of the article (perhaps wrong) is that blockchain is a terrible solution instantaneous transfer because it is slower and less secure than other solutions.

tigershark 9y ago

Like a broken payment system that takes hours for a confirmation, north of 50$ of commission even if you are transferring a single cent, instantaneous theft of hundred of millions USD and countless hard forks? I would say I’m very, VERY lucky of not being part of this small niche that apparently burns more electricity than me, my children, my grandchildren and so on until the 50th generation and over...

ttoinou 9y ago
Talking about blockchain here, not bitcoin (which already have really good competition) that apparently burns more electricity than me, my children, my grandchildren and so on until the 50th generation and over So you are going to get ride of every electricity consuming technology you have and get back living in a cavern ? Have you computed the amount of electricity consumed by the actual financial system, payment systems and banks ?

RestlessMind 9y ago

Here is why I cannot see bitcoin becoming a "currency" - lack of a central authority which can enforce stability on its value. If a loaf of bread is going to cost 1 milli-btc today and 2 milli-btc tomorrow, that will simply wreak havoc in the society. Most folks just want a stable predictable life with as little volatility as possible. Say what you want about modern central bankers, they have kept things mostly stable. 2008 crash was the worst thing happened on their watch, which is mild in comparison to other horrors of the past (like great depression).