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Sorry, I have been living under a rock recently: did somebody already discovered an use case for block chain other than money laundering?
by dandare 9y ago
Sorry, I have been living under a rock recently: did somebody already discovered an use case for block chain other than money laundering?
- ghthor 9y agoThe blockchain is the least interesting aspect of what makes up the public cyptocurrency networks. They are a nice combination of distributed consensus + PK signed transactions that produces a very good UX.
- chas 9y ago“Very good UX” doesn’t really describe interacting with public cryptocurency networks for me between the security concerns, transaction times, and obscure address names. Is there a particular use case that you have in mind where that’s an improvement on the status quo from a UX perspective?
- snissn 9y agoAre you including signing up for a credit card or bank, making sure you don't have inactivity fees in your checking account, paying your bills on a monthly basis and incurring late fees and credit score dings if you don't?
- chas 9y agoYup, all-in the sign-up is roughly the same, the bills are pretty easy to keep paid, and fees are far less inconvenient than the possibility of losing control over a financially-significant private key.
- def_true_false 9y agoIBAN is not much more meaningful than a random string. International transactions usually take a day or more.
- chas 9y agoI don't think that aspect of centralized banking infrastructure has "very good UX" either. I could imagine something like PGP where the key management around hardware wallets and an interface like https://etherscan.io/ https://etherscan.io/ was serious UX improvement, but wasn't broadly disseminated knowledge yet.
- Kiro 9y agoCryptoKitties.
- mv4 9y agoin related news, CryptoKitties just raised $12M: https://techcrunch.com/2018/03/20/cryptokitties-raises-12m-from-andreessen-horowitz-and-union-square-ventures/ https://techcrunch.com/2018/03/20/cryptokitties-raises-12m-f...
- mrarjen 9y ago- Power consumption - Media headlines - Gambling and guess the security aspect is kinda neat, but feels like this needs to evolve quite a bit more first. Future still looks interesting.
- whataretensors 9y agoYes. A very large amount of use cases.
- slowmotiony 9y agoYes, I can send money to my buddy in the US for a few cents and I don't care about Western Union opening hours or ELIXIR bank session times or whatever really. It's just me, my buddy, and the money. Takes only a few minutes, I can do it whenever I like. Even sundays. And nobody even knows. It's beautiful.
- needToSay 9y agoRest of the world does it with regular banks.
- raesene9 9y agoOut of curiosity, what app/coin do you use to go fiat-->crypto-->fiat? I know there are various options, but intereste to know one which can be used easily for this kind of transfer.
- slowmotiony 9y agoI have a local fiat gateway here in my country which I use to convert between fiat / cash, like 4coins.pl or inpay.pl. I suppose most countries have some fiat gateways like this. In my case the exchange usually takes only a few minutes. Ideally you would not need to convert to fiat as more businesses accepted cryptocurrency as payment, but we are not there yet unfortunately.
- Yizahi 9y agoAnd your buddy has to pay income tax on that transaction. And IRS will know later, when his chosen exchange will decide to share their records with them (and they do this).
- sodafountan 9y agoLOL just like everybody pays all their taxes on gifts right? Do you know how Monero works? Monero is completely private and there's too many exchanges for the government to audit them all, and besides that the laws are bound to change in the near future as crypto-currency becomes more viable. Stop being so cynical, it's a poor long-term life strategy.
- xky 9y agoWhat about for building financial systems that work in communities with dysfunctional governments?
- sodafountan 9y agossshhh Hacker News hates crypto-currency, most likely due to its ageing community. This a "get off my lawn" post, just move along.
- Yizahi 9y agoMost likely due to relatively low percent of "business" people and relatively high percent of "tech" people here. Blockchain is really not the bestest amazing thing as some people describe it.
- kolinko 9y agoEquity crowdfunding, and all other things fintech.