3 ms·

These are my three favorite use cases (which I use personally) 1. Bitcoin - I have hedged currency successfully using Bitcoin 2. Maker - Check it out. It real

These are my three favorite use cases (which I use personally) 1. Bitcoin - I have hedged currency successfully using Bitcoin 2. Maker - Check it out. It really does show power of smart contracts 3. Oracles - Although, I am not familiar with the tech but they are beginning to show real world adoption. Maker uses Oracles for e.g. Check Chainlink Edit: Telegram? I use it

zelly 7y ago
Most "AI" is a scam but "blockchain" is far worse of an offender. "Blockchain" has zero utility in the business world. Its only use case is decentralized, censorship-resistant protocols. No one is trying to censor a shipping company's supply chain manifest. No one is trying to censor JP Morgan's bank transactions. The people who need it are dissidents, deplatformed people, people who cannot get bank accounts, or people trading contraband. Not exactly areas to extract an industry from. Half of these altcoins do not have working software. In 2017 the ICOs did not have any software at all, just a promise on a homepage with a button to send money. The other half do not scale or do not meet their own basic requirements. The oldest, most venerable project Bitcoin had an inflation bug a couple years ago that would have let anyone counterfeit an unlimited amount of coins. At least the AI scammers show up with code.
- redisman 7y ago
  I loved all the hyped Blockchain companies 3 years ago where I would always think "what does this do that a small MySQL instance doesn't already do better for a real business?" Hey - you can save your customer database in a really cool convoluted and slow database. Because bitcoin. Plus your clients can run this fun app that drains their batteries.
UweSchmidt 7y ago
Bitcoin is the ecological desaster that OP talked about. Smart contracts have the fundamental problem of people having to write perfect, error free code (as it can't be changed later), i.e. an impossibility. Often these smart contracts deal with a monetary value (as people strangely assign value to those "coins"), so something like the DAO hack on the Ethereum blockchain is inevitable. Also to do anything on a blockchain, even just add 1+1, on any hardware, no matter how expensive, no matter how far in the future, has to work at full capacity to hack some crypto. Your laptop will heat up and the fans go on full. Sounds trivial but if you've experienced it it's weird. Oracles are a fundamental problem of blockchain: If you trust an outside source of truth, why need the blockchain? Go straight to the oracle.

zelly 7y ago

Most "AI" is a scam but "blockchain" is far worse of an offender. "Blockchain" has zero utility in the business world. Its only use case is decentralized, censorship-resistant protocols. No one is trying to censor a shipping company's supply chain manifest. No one is trying to censor JP Morgan's bank transactions. The people who need it are dissidents, deplatformed people, people who cannot get bank accounts, or people trading contraband. Not exactly areas to extract an industry from. Half of these altcoins do not have working software. In 2017 the ICOs did not have any software at all, just a promise on a homepage with a button to send money. The other half do not scale or do not meet their own basic requirements. The oldest, most venerable project Bitcoin had an inflation bug a couple years ago that would have let anyone counterfeit an unlimited amount of coins. At least the AI scammers show up with code.

redisman 7y ago
I loved all the hyped Blockchain companies 3 years ago where I would always think "what does this do that a small MySQL instance doesn't already do better for a real business?" Hey - you can save your customer database in a really cool convoluted and slow database. Because bitcoin. Plus your clients can run this fun app that drains their batteries.

UweSchmidt 7y ago

Bitcoin is the ecological desaster that OP talked about. Smart contracts have the fundamental problem of people having to write perfect, error free code (as it can't be changed later), i.e. an impossibility. Often these smart contracts deal with a monetary value (as people strangely assign value to those "coins"), so something like the DAO hack on the Ethereum blockchain is inevitable. Also to do anything on a blockchain, even just add 1+1, on any hardware, no matter how expensive, no matter how far in the future, has to work at full capacity to hack some crypto. Your laptop will heat up and the fans go on full. Sounds trivial but if you've experienced it it's weird. Oracles are a fundamental problem of blockchain: If you trust an outside source of truth, why need the blockchain? Go straight to the oracle.