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The ship has sailed for bitcoin as an everyday currency and it has turned more into a store of value than a currency. However, the crypto world is diverse, stil
by rudolph9 6y ago
The ship has sailed for bitcoin as an everyday currency and it has turned more into a store of value than a currency. However, the crypto world is diverse, still infant, and has many applications beyond currency. Look at IPFS (libp2p, IPLD, Multiformats); it’s open source free software that allows user to view content without it being censored.
Filecoin (the currency) exists on top but is completely independent and unnecessary to make use of the underlying utility of IPFS.
While bitcoin is a bit of a monolith even it has utility beyond currency as you can write information along with your transactions. An example is [ION][1] an identity service pegging state to transactions wiring to the blockchain and so long as bitcoin holds value you can have high certainty this information will not go away or be modified.
There are trade-offs to everything but often the benefit of crypto projects is lost when they’re viewed as currency rather than utility. Look at the forest not the trees.
[1]: https://techcommunity.microsoft.com/t5/azure-active-directory-identity/toward-scalable-decentralized-identifier-systems/ba-p/560168 https://techcommunity.microsoft.com/t5/azure-active-director...