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> Can you point to a legitimate problem that “blockchain” can solve, which can’t be solved with existing tools? I will never understand this. The vast majority
by ccortes 6y ago
> Can you point to a legitimate problem that “blockchain” can solve, which can’t be solved with existing tools?
I will never understand this. The vast majority of problems have more than one solution, most of the time is just about solving something in a (much) better way.
If the bar for something to exist is "solve a problem that can't be solved with existing tools" then 99% of startups wouldn't exist.
- louwrentius 6y agoI think you misinterpret my statement. Just as you have just a finite set of notes on a piano, you can create infinite music. And even if IT has a finite set of regular tools like SQL databases, programming languages and protocols, it's the thing you create with that, what counts. Blockchain is a tool that does nothing better than existing tools. Blockchain is a solution to a problem nobody has.
- ccortes 6y agoI don't know if you'd count it as a blockchain solution but I constantly use crypto to send money to my family and it's the best solution that I've found. And yes, I now about transferwise, paypal, swift, etc. And using crypto is faster and cheaper.
- imtringued 6y agoWhat are the tax implications for the receiving side?
- Karunamon 6y agoI call maximum shenanigans on "cheaper" unless you're sending large amounts of money. Bitcoin: ~$25 Ethereum (and all tokens): ~$17 For comparison, to burn that much in fees on Paypal (2.5% + 30c), I'd need to send around 10K. Crypto is currently pointless for anything other than big transactions, and the unpredictability of the transaction fees, let alone the coin's value, is a big problem.