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From something I wrote above, this was my ah-ha moment: Not all cryptos are like this, but for bitcoin and other ones that have the incentives right: bitcoin's
by dogman144 6y ago
From something I wrote above, this was my ah-ha moment:
Not all cryptos are like this, but for bitcoin and other ones that have the incentives right: bitcoin's massive breakthrough is a protocol that can send verifiably discrete entities across a network, without a central party needing to verify the discrete-ness. This is a huge breakthrough in a lot of ways, but basically consider if you network could send payments as exactly as easily as it does HTTP packets, and w/o a client-server model, just p2p. HTTP changed the world, and that's the idea behind bitcoin's value. If you could somehow buy a slice of HTTP in 1997, or TCP/UDP, now knowing how important and valuable those became (valued by the size of the internet economy), would you?
- tootie 6y agoThe only distinction between crypto and just HTTPS is the distributed concept. Something that I don't really think is valuable and neither do most consumers. Crypto exchanges get robbed more often than banks. The notion of investing in "http" is akin to investing in "blockchain" which isn't a thing. Anyone who saw the value of the internet would have been buying Apple, Google and Amazon because they were providing goods and services. Not tokens. I'm heavily invested in reddit karma, but it's still not fungible.
- dogman144 6y agoIt's not so much the distributed concept, but it's the "verifiably discrete" packets that behave like a global internet protocol concept. I don't think you know the tech under the hood vs. existing tech, it sounds like. There has been no way, prior to now, to verify that my packet I'm sending over a network is a discrete entity, unless you use something like a certificate authority, and that's not really the same ballpark/use case. It's worth digging in that direction if you actually have an open mind about it.