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Amazon, Microsoft, Google, IBM will all 'embrace' block-chain for the same reasons explained here... https://medium.com/@qroshan/block-chain-solving-imaginary-

Amazon, Microsoft, Google, IBM will all 'embrace' block-chain for the same reasons explained here... https://medium.com/@qroshan/block-chain-solving-imaginary-problems-that-nobody-has-487105d90888 https://medium.com/@qroshan/block-chain-solving-imaginary-pr... "Service Providers like Amazon/IBM have nothing to lose to give ‘Block-chain-as-a-service’ for any one willing to fork their money for such things. They are happy to take your money. Just like a stock broker, the more you use their compute power to do utterly useless things the more profitable they are."

magnamerc 7y ago
Well, yeah, private blockchains are practically useless unless they are a consortium chain, but even then the usefulness is questionable. Public blockchains are an entirely different beast, and I kind of just dismiss people now when they claim that public blockchains like Ethereum are useless because it's quite clear that they haven't done enough research.
- floatboth 7y ago
  Indeed, public blockchains aren't useless, they're extremely useful for one specific thing: censorship resistance. Evading the law, that is. Now, of course the law isn't always just, it sucks that most countries ban drugs, it sucks that governments don't want anti-government activists to get donations, but the terrible things done with buttcoins vastly outnumber the non-terrible things. Cryptocurrencies have largely fueled the rise of ransomware, extortion and scams. People are literally burning energy on hash bruteforcing just so that scammers and malware authors could get paid.
  - tomglynch 7y ago
    Going along the same lines as your argument - would you also agree iTunes gift cards are bad?
easymodex 7y ago
Did you just quote yourself? Is this a thinly veiled attempt at promoting your own blogposts? Either way I don't know why your opinion on cryptocurrencies is so harshly negative. Of course it is currently hyped up and of course it doesn't solve all problems as a magic cure-all. BUT there are several real world use cases and dismissing them all just because some people are trying to get rich in the ecosystem isn't warranted.

magnamerc 7y ago

Well, yeah, private blockchains are practically useless unless they are a consortium chain, but even then the usefulness is questionable. Public blockchains are an entirely different beast, and I kind of just dismiss people now when they claim that public blockchains like Ethereum are useless because it's quite clear that they haven't done enough research.

floatboth 7y ago
Indeed, public blockchains aren't useless, they're extremely useful for one specific thing: censorship resistance. Evading the law, that is. Now, of course the law isn't always just, it sucks that most countries ban drugs, it sucks that governments don't want anti-government activists to get donations, but the terrible things done with buttcoins vastly outnumber the non-terrible things. Cryptocurrencies have largely fueled the rise of ransomware, extortion and scams. People are literally burning energy on hash bruteforcing just so that scammers and malware authors could get paid.
- tomglynch 7y ago
  Going along the same lines as your argument - would you also agree iTunes gift cards are bad?

easymodex 7y ago

Did you just quote yourself? Is this a thinly veiled attempt at promoting your own blogposts? Either way I don't know why your opinion on cryptocurrencies is so harshly negative. Of course it is currently hyped up and of course it doesn't solve all problems as a magic cure-all. BUT there are several real world use cases and dismissing them all just because some people are trying to get rich in the ecosystem isn't warranted.