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And what if a lowly peasant like me wants to synchronize with the big trading firms' feeds? Do I need to sell a kidney to play on the same field? Blockchain d

And what if a lowly peasant like me wants to synchronize with the big trading firms' feeds? Do I need to sell a kidney to play on the same field? Blockchain does exactly this without everybody having to sort out discrepancies. Everybody getting the same picture is built in. Just the possibility of there being discrepancies in the ledgers you described would have me looking for a better way. I would much rather have the option of connecting to a decentralized feed that is the same for everybody regardless of resources.

bunderbunder 8y ago
> And what if a lowly peasant like me wants to synchronize with the big trading firms' feeds? It's all pretty highly regulated, and you'd need a license before you're allowed to even think about hooking directly into an exchange. If you've got lowly peasant money to work with, it would be much more cost effective to go through the retail channels, just like every other person who isn't a corporation. > Blockchain does exactly this without everybody having to sort out discrepancies. No, it doesn't. The nature of the discrepancies that cause trouble in practice, and the ways they sneak in, are simply not things you can solve by chaining hashes and throwing a proof-of-work algorithm into the mix. The very suggestion puts you one blue suit and some pointy hair away from being able to star in a Dilbert strip about trying to use buzzwords to solve problems you don't understand.
- tastyfreeze 8y ago
  Nobody said proof-of-work. Bitcoin is not the only game in town. Ledger consensus can be reaches without wasting resources on a proof-of-work algorithm.
  - afiori 8y ago
    Which answer none of the point presented. Financial markets are heavily regulated for a good reason, Bitcoin need to find a good way to "clone" that if it want to be used for actual finance. Errors can come from outside the system, any kind of consensus protocol cannot solve that. So cryptocoins do not have any particular advantage here.

bunderbunder 8y ago

> And what if a lowly peasant like me wants to synchronize with the big trading firms' feeds? It's all pretty highly regulated, and you'd need a license before you're allowed to even think about hooking directly into an exchange. If you've got lowly peasant money to work with, it would be much more cost effective to go through the retail channels, just like every other person who isn't a corporation. > Blockchain does exactly this without everybody having to sort out discrepancies. No, it doesn't. The nature of the discrepancies that cause trouble in practice, and the ways they sneak in, are simply not things you can solve by chaining hashes and throwing a proof-of-work algorithm into the mix. The very suggestion puts you one blue suit and some pointy hair away from being able to star in a Dilbert strip about trying to use buzzwords to solve problems you don't understand.

tastyfreeze 8y ago
Nobody said proof-of-work. Bitcoin is not the only game in town. Ledger consensus can be reaches without wasting resources on a proof-of-work algorithm.
- afiori 8y ago
  Which answer none of the point presented. Financial markets are heavily regulated for a good reason, Bitcoin need to find a good way to "clone" that if it want to be used for actual finance. Errors can come from outside the system, any kind of consensus protocol cannot solve that. So cryptocoins do not have any particular advantage here.