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> That being said, 95% of the times the word "blockcahin" is uttered these days, what follows is most likely bullshit. This is true -- it's also true the 5% is

> That being said, 95% of the times the word "blockcahin" is uttered these days, what follows is most likely bullshit. This is true -- it's also true the 5% is pretty damn interesting. There are plenty of interesting tokens out there. Some of them are tackling real problems. That's pretty exciting. I don't begrudge someone who's trying to solve something. The historical analogs are lazy in my view. The financial and political system we operate in today has done plenty of damage. Indeed, some of the key examples listed on the slide. The last global financial crisis wasn't that long ago (and wasn't that "reversible", certain people may recall). You could spin every one of those dot-points as commentary on our existing financial systems. Doesn't mean blockchain is going to fix it. In fact, I have many doubts and concerns. There is so much to do. However, I really like that people are trying.

jmeyer2k 9y ago
One of the coolest things about cryptocurrency right now is the insane amount of money being invested in decentralization. With all of the Facebook privacy issues in the news right now, decentralization offers an interesting alternative where users control their data.
- adventured 9y ago
  Recording something permanently into a blockchain is the opposite of users having control over their data. Blockchain does not appear to be the best way to build a decentralized system for user controlled data (such as a decentralized social network). We already figured that system out: local software, local storage, open source, local permissions & controls. Billions of people have personal computing devices now. No blockchain is needed at all, that just adds entirely unnecessary bloat. You shift the point of control back to the local device and away from the network. It is that simple, and it's how we largely used to control user data.
  - gjmacd 9y ago
    Except you wouldn't use the blockchain to have control over their data", you'd use it for identity and verification. Facebook' #1 issue is fake news and Bot's. You can eliminate those problems entirely with a blockchain and smart contract that requires identity and proof of such.
    - cozicoolmail 9y ago
      How would you prove identity on a blockchain? You'd be worse equipped than Facebook. Are you suggesting some entity verify folks who sign up for this distributed social network? Make an Ehtereum contract to do it? Either way, this sounds dubious at best.
      - _betty_ 9y ago
        I think the idea is: * Website gives person a unique code to broadcast on the blockchain to prove they have control over that identity * 'Approved' services claim things publically about identities (eg age, allowed to drive) which others can use to verify claims What I don't get is: * how you know which 'approved' services to trust in the first place * why you'd want all of that information public * how it'd fix the original issue
        JimmyAustin 9y ago
        You can treat the 'approved' services list using a whitelist, like a CA. The other issue is that none of this is necessary. If I want to prove to Person X that Gov Y says that I have property Z, why can't I just present a cryptographically signed certificate saying I have property X. You could even have a similar revocation list as CA.
        deleted 9y ago
        [deleted]
        _betty_ 9y ago
        revocation seems easier with the blockchain. it just comes with too much other baggage to feel worth it.
  - jmeyer2k 9y ago
    I didn't necessarily say blockchain. Cryptocurrency and the blockchain is the incentivization structure, not necessarily the end product. I agree. Blockchain only makes sense for things that require immutability which many applications do not. OpenBazaar is a good example of one of the applications I was thinking of.
- coldtea 9y ago
  >One of the coolest things about cryptocurrency right now is the insane amount of money being invested in decentralization. All this money is invested in "get-rich-quick" hopes. Few would care, or invest anything, if it was just for the decentralization aspect (case in point, all the failed aspects of decentralized social networks and other such efforts).
kalleboo 9y ago
The 5% are interesting in the same way that Communism and hardcore Libertarianism are interesting. "Would be very cool if it could work (there's no way in hell it would work)"
- jwilliams 9y ago
  The political overlay is valid - I do see that blockchain can get pretty political. That said, I can't think of any modern political system that couldn't do with improvement. Even with that remark -- I wasn't thinking particularly politically. There are plenty of markets I think blockchain has a decent swing at.

jmeyer2k 9y ago

One of the coolest things about cryptocurrency right now is the insane amount of money being invested in decentralization. With all of the Facebook privacy issues in the news right now, decentralization offers an interesting alternative where users control their data.

adventured 9y ago
Recording something permanently into a blockchain is the opposite of users having control over their data. Blockchain does not appear to be the best way to build a decentralized system for user controlled data (such as a decentralized social network). We already figured that system out: local software, local storage, open source, local permissions & controls. Billions of people have personal computing devices now. No blockchain is needed at all, that just adds entirely unnecessary bloat. You shift the point of control back to the local device and away from the network. It is that simple, and it's how we largely used to control user data.
- gjmacd 9y ago
  Except you wouldn't use the blockchain to have control over their data", you'd use it for identity and verification. Facebook' #1 issue is fake news and Bot's. You can eliminate those problems entirely with a blockchain and smart contract that requires identity and proof of such.
  - cozicoolmail 9y ago
    How would you prove identity on a blockchain? You'd be worse equipped than Facebook. Are you suggesting some entity verify folks who sign up for this distributed social network? Make an Ehtereum contract to do it? Either way, this sounds dubious at best.
    - _betty_ 9y ago
      I think the idea is: * Website gives person a unique code to broadcast on the blockchain to prove they have control over that identity * 'Approved' services claim things publically about identities (eg age, allowed to drive) which others can use to verify claims What I don't get is: * how you know which 'approved' services to trust in the first place * why you'd want all of that information public * how it'd fix the original issue
      - JimmyAustin 9y ago
        You can treat the 'approved' services list using a whitelist, like a CA. The other issue is that none of this is necessary. If I want to prove to Person X that Gov Y says that I have property Z, why can't I just present a cryptographically signed certificate saying I have property X. You could even have a similar revocation list as CA.
        deleted 9y ago
        [deleted]
        _betty_ 9y ago
        revocation seems easier with the blockchain. it just comes with too much other baggage to feel worth it.
- jmeyer2k 9y ago
  I didn't necessarily say blockchain. Cryptocurrency and the blockchain is the incentivization structure, not necessarily the end product. I agree. Blockchain only makes sense for things that require immutability which many applications do not. OpenBazaar is a good example of one of the applications I was thinking of.
coldtea 9y ago
>One of the coolest things about cryptocurrency right now is the insane amount of money being invested in decentralization. All this money is invested in "get-rich-quick" hopes. Few would care, or invest anything, if it was just for the decentralization aspect (case in point, all the failed aspects of decentralized social networks and other such efforts).

kalleboo 9y ago

The 5% are interesting in the same way that Communism and hardcore Libertarianism are interesting. "Would be very cool if it could work (there's no way in hell it would work)"

jwilliams 9y ago
The political overlay is valid - I do see that blockchain can get pretty political. That said, I can't think of any modern political system that couldn't do with improvement. Even with that remark -- I wasn't thinking particularly politically. There are plenty of markets I think blockchain has a decent swing at.