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I've been hearing this for 10 years straight. Thus far the only successful examples of Blockchain technology have been based on digital currencies and Bitcoin

I've been hearing this for 10 years straight. Thus far the only successful examples of Blockchain technology have been based on digital currencies and Bitcoin has done nothing but continue it's success. On the other hand, there is not one example of "Blockchain technology" put to work on anything that needed it.

NicoJuicy 6y ago
We use blockchain at work ( not by me). It's not because you haven't seen it in public, that it isn't used. Also: https://www.fnality.org/home https://www.fnality.org/home which the bank of england ( mentioned in the article) is a member of to settle between banks. I also wouldn't see bitcoin as a success. No one that i know of uses it in daily life ( except some being hyped by it and HODL'ing it)
- disruptalot 6y ago
  "Blockchain" is close to useless unless it is coupled with being public, permissionless, borderless among other things. The companies that jumped on this "Blockchain" "DLT" nonsense bandwagon to this day do not understand any of the fundamentals. Just using a distributed ledger does not provide any benefits that they try to borrow from likes of Bitcoin. Distributed ledgers have existed for decades. Anyone that holds bitcoin is using it everyday as a store of value. It's unnecessary to go into all the reasons Bitcoin makes sense in this thread, plenty of resource out there. Suffice to say that by any measure, market determined or otherwise, Bitcoin's usage has constantly (or even exponentially) increased since inception. Either this hoard of people are getting more and more wrong every year, or perhaps you're looking at it from the wrong angle.
casi18 6y ago
I now barely use my bank account, i get paid in dai, i pay others in dai. occasionally i have to move dai into fiat for bills. hopefully these central bank digital currencies help bridge that last step. i love it because i can write programs to move my money around. I can stream payments with https://sablier.finance https://sablier.finance i can lend and borrow with https://aave.com https://aave.com I get paid universal basic income each hour from https://www.proofofhumanity.id https://www.proofofhumanity.id I use https://yearn.finance/ https://yearn.finance/ and https://app.pooltogether.com/ https://app.pooltogether.com/ as my savings accounts. I can take a loan against my collateral with https://alchemix.fi/ https://alchemix.fi/ to buy things irl. I have a https://monolith.xyz/ https://monolith.xyz/ visa card to pay for things with my crypto (until bridges arrive). I can organise with others in https://app.daohaus.club/ https://app.daohaus.club/ and vote in https://snapshot.org/ https://snapshot.org/ At what point have we satisfied your criteria for making something useful and successful? I use it everyday, it works great for me. (all of the above is just a small set of projects on ethereum)
- disruptalot 6y ago
  I should clarify, Ethereum isn't merely "Blockchain technology", it's a more programmable Bitcoin (with other trade offs of course). In that sense, it's useful for the reasons you mentioned. The point applies more to projects that think they can replicate some form of this success by just hashing a block and stringing them together.
- NicoJuicy 6y ago
  A lot of jurisdictions if everything goes wrong: https://www.proofofhumanity.id/ https://www.proofofhumanity.id/ - exists since 2021-01-20 | whois unavailable | 1 Guy from Brazil on Github https://yearn.finance/ https://yearn.finance/ - exists since 2020 | Iceland https://sablier.finance https://sablier.finance - iceland https://app.pooltogether.com https://app.pooltogether.com | canada https://alchemix.fi/ https://alchemix.fi/ Charlestown? - France monolith.xyz | US No thanks. I'll keep everything through the bank in my country, which I can call everytime if something would be wrong.
  - casi18 6y ago
    Those are mostly just front ends (expect monolith which is just for visa, not a long term thing), I can make/host my own front ends for the protocols if i want. e.g. the yearn dai vault address is 0x19D3364A399d251E894aC732651be8B0E4e85001 i can call the functions at that address via my own node with my own code if i want to. It isn't in a jurisdiction, no-one else is responsible for my money but me. That comes with risk sure, but it also comes with liberty. They are decentralized applications and I can always opt out and move somewhere else. I can take their code for their financial application, fork it and re-deploy my own version under my central control if i wanted too. Imagine forking a HSBC savings account. It is wild and crazy. Some people don't like that. I love it. You can feel free to do as you like. A lot of the interest in crypto is that if these tools allow people to coordinate and communicate more effectively than the old tools, then they will come to replace them. If it works as we imagine then you may end up using it and not even knowing.
    - NicoJuicy 6y ago

NicoJuicy 6y ago

We use blockchain at work ( not by me). It's not because you haven't seen it in public, that it isn't used. Also: https://www.fnality.org/home https://www.fnality.org/home which the bank of england ( mentioned in the article) is a member of to settle between banks. I also wouldn't see bitcoin as a success. No one that i know of uses it in daily life ( except some being hyped by it and HODL'ing it)

disruptalot 6y ago
"Blockchain" is close to useless unless it is coupled with being public, permissionless, borderless among other things. The companies that jumped on this "Blockchain" "DLT" nonsense bandwagon to this day do not understand any of the fundamentals. Just using a distributed ledger does not provide any benefits that they try to borrow from likes of Bitcoin. Distributed ledgers have existed for decades. Anyone that holds bitcoin is using it everyday as a store of value. It's unnecessary to go into all the reasons Bitcoin makes sense in this thread, plenty of resource out there. Suffice to say that by any measure, market determined or otherwise, Bitcoin's usage has constantly (or even exponentially) increased since inception. Either this hoard of people are getting more and more wrong every year, or perhaps you're looking at it from the wrong angle.

casi18 6y ago

I now barely use my bank account, i get paid in dai, i pay others in dai. occasionally i have to move dai into fiat for bills. hopefully these central bank digital currencies help bridge that last step. i love it because i can write programs to move my money around. I can stream payments with https://sablier.finance https://sablier.finance i can lend and borrow with https://aave.com https://aave.com I get paid universal basic income each hour from https://www.proofofhumanity.id https://www.proofofhumanity.id I use https://yearn.finance/ https://yearn.finance/ and https://app.pooltogether.com/ https://app.pooltogether.com/ as my savings accounts. I can take a loan against my collateral with https://alchemix.fi/ https://alchemix.fi/ to buy things irl. I have a https://monolith.xyz/ https://monolith.xyz/ visa card to pay for things with my crypto (until bridges arrive). I can organise with others in https://app.daohaus.club/ https://app.daohaus.club/ and vote in https://snapshot.org/ https://snapshot.org/ At what point have we satisfied your criteria for making something useful and successful? I use it everyday, it works great for me. (all of the above is just a small set of projects on ethereum)

disruptalot 6y ago
I should clarify, Ethereum isn't merely "Blockchain technology", it's a more programmable Bitcoin (with other trade offs of course). In that sense, it's useful for the reasons you mentioned. The point applies more to projects that think they can replicate some form of this success by just hashing a block and stringing them together.
NicoJuicy 6y ago
A lot of jurisdictions if everything goes wrong: https://www.proofofhumanity.id/ https://www.proofofhumanity.id/ - exists since 2021-01-20 | whois unavailable | 1 Guy from Brazil on Github https://yearn.finance/ https://yearn.finance/ - exists since 2020 | Iceland https://sablier.finance https://sablier.finance - iceland https://app.pooltogether.com https://app.pooltogether.com | canada https://alchemix.fi/ https://alchemix.fi/ Charlestown? - France monolith.xyz | US No thanks. I'll keep everything through the bank in my country, which I can call everytime if something would be wrong.
- casi18 6y ago
  Those are mostly just front ends (expect monolith which is just for visa, not a long term thing), I can make/host my own front ends for the protocols if i want. e.g. the yearn dai vault address is 0x19D3364A399d251E894aC732651be8B0E4e85001 i can call the functions at that address via my own node with my own code if i want to. It isn't in a jurisdiction, no-one else is responsible for my money but me. That comes with risk sure, but it also comes with liberty. They are decentralized applications and I can always opt out and move somewhere else. I can take their code for their financial application, fork it and re-deploy my own version under my central control if i wanted too. Imagine forking a HSBC savings account. It is wild and crazy. Some people don't like that. I love it. You can feel free to do as you like. A lot of the interest in crypto is that if these tools allow people to coordinate and communicate more effectively than the old tools, then they will come to replace them. If it works as we imagine then you may end up using it and not even knowing.
  - NicoJuicy 6y ago