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To be fair to OP, your mind appears to be made up, and you can probably admit that, if youre honest with yourself, you don't earnestly look into the field much,

To be fair to OP, your mind appears to be made up, and you can probably admit that, if youre honest with yourself, you don't earnestly look into the field much, right?

edent 5y ago
I'm cyrrently studying for a Certified Blockchain Professional exam - see https://shkspr.mobi/blog/tag/certified-blockchain-professional/ https://shkspr.mobi/blog/tag/certified-blockchain-profession... My mind isn't made up. But I'm struggling to find use cases which fit the Blockchain model.
- exdsq 5y ago
  A third of GDP in Nepal is money sent by nationals working abroad and 1/4 of that is taken through high international banking fees. Use stable coins on a blockchain to get around those and you’ll see a 1/12 increase in GDP? Phone credit based economies still exist in Africa. They have internet but no banking infrastructure. Using a blockchain allows people to create accounts and build a credit history as opposed to phone credit balances. The Gates foundation mentioned a lot of pain points in direct giving was the fees taken along the way. Again, something that could be looked at with crypto. Digital licenses - they aren’t transferable because the resale market doesn’t give returns to the creators. With NFT licenses you could trade them with fixed royalties going back to the creator. Etc
  - edent 5y ago
    Are the "gas" fees and similar better or worse than international banking fees?
    - exdsq 5y ago
      Use a proof-of-stake chain and they're a few dollars, so much cheaper. That's why Visa and JP Morgan are hiring to build a blockchain to run inter-bank transactions to get around them.
- anon9001 5y ago
  Ok, I'll bite because you seem earnest. One killer feature that doesn't get nearly enough hype is uptime. Check out these stats: https://www.buybitcoinworldwide.com/bitcoin-uptime/ https://www.buybitcoinworldwide.com/bitcoin-uptime/ The last incident to cause downtime for bitcoin was in 2013. Ethereum has never had downtime. Another is speed. People like to talk about how slow web3 is, but even Ethereum is super fast compared to a traditional banking transfer. Traditional accounting isn't expected to be instant, so it has a lot of waiting periods and days-long SLAs. Also trust. Not everyone can trust their local bank or local government. And even if they can, why should the default preference be to have a company with a spreadsheet tell me how many assets they have marked to my name? I'd rather have a decentralized ledger that doesn't require me to place my trust in an individual company or government. You can't really build these features without some sort of "blockchain". You could try to put together a consortium of companies or individuals to run a shared database with consensus and vote about administration, having it backed by contracts that would be enforceable by world governments. That'd get you 95% of the way there, but it'd still be less good than a public blockchain run by volunteers that provides the same trustless features.
  - edent 5y ago
    Speed? In the UK I can send money for free to any other UK bank account instantly. Not everywhere is as slow and expensive as the USA. Uptime is legitimately amazing. But when you look at the computational speed - a Raspberry Pi on a UPS is probably more powerful. Trust is great. How do you do a chargeback on a fraudulent transaction on Ethereum? There are some amazing theoretical gains for Blockchain technology. I hope they become practical in the near future.
    - anon9001 5y ago
      > Speed? In the UK I can send money for free to any other UK bank account instantly. Not everywhere is as slow and expensive as the USA. If you believe that all the world is really the divine right of the queen, I suppose sending payments instantly within the UK is more than sufficient. > Uptime is legitimately amazing. But when you look at the computational speed - a Raspberry Pi on a UPS is probably more powerful. Way more powerful, but practically useless, as 100% uptime globally is the requirement. > Trust is great. How do you do a chargeback on a fraudulent transaction on Ethereum? Blockchains completely prevent chargeback fraud by simply not allowing for reversal of transactions. You might not want this feature if you're buying a cup of coffee, but it's very important if you're dealing with large sums.

To be fair to OP, your mind appears to be made up, and you can probably admit that, if youre honest with yourself, you don't earnestly look into the field much, right?

edent 5y ago

I'm cyrrently studying for a Certified Blockchain Professional exam - see https://shkspr.mobi/blog/tag/certified-blockchain-professional/ https://shkspr.mobi/blog/tag/certified-blockchain-profession... My mind isn't made up. But I'm struggling to find use cases which fit the Blockchain model.

exdsq 5y ago
A third of GDP in Nepal is money sent by nationals working abroad and 1/4 of that is taken through high international banking fees. Use stable coins on a blockchain to get around those and you’ll see a 1/12 increase in GDP? Phone credit based economies still exist in Africa. They have internet but no banking infrastructure. Using a blockchain allows people to create accounts and build a credit history as opposed to phone credit balances. The Gates foundation mentioned a lot of pain points in direct giving was the fees taken along the way. Again, something that could be looked at with crypto. Digital licenses - they aren’t transferable because the resale market doesn’t give returns to the creators. With NFT licenses you could trade them with fixed royalties going back to the creator. Etc
- edent 5y ago
  Are the "gas" fees and similar better or worse than international banking fees?
  - exdsq 5y ago
    Use a proof-of-stake chain and they're a few dollars, so much cheaper. That's why Visa and JP Morgan are hiring to build a blockchain to run inter-bank transactions to get around them.
anon9001 5y ago
Ok, I'll bite because you seem earnest. One killer feature that doesn't get nearly enough hype is uptime. Check out these stats: https://www.buybitcoinworldwide.com/bitcoin-uptime/ https://www.buybitcoinworldwide.com/bitcoin-uptime/ The last incident to cause downtime for bitcoin was in 2013. Ethereum has never had downtime. Another is speed. People like to talk about how slow web3 is, but even Ethereum is super fast compared to a traditional banking transfer. Traditional accounting isn't expected to be instant, so it has a lot of waiting periods and days-long SLAs. Also trust. Not everyone can trust their local bank or local government. And even if they can, why should the default preference be to have a company with a spreadsheet tell me how many assets they have marked to my name? I'd rather have a decentralized ledger that doesn't require me to place my trust in an individual company or government. You can't really build these features without some sort of "blockchain". You could try to put together a consortium of companies or individuals to run a shared database with consensus and vote about administration, having it backed by contracts that would be enforceable by world governments. That'd get you 95% of the way there, but it'd still be less good than a public blockchain run by volunteers that provides the same trustless features.
- edent 5y ago
  Speed? In the UK I can send money for free to any other UK bank account instantly. Not everywhere is as slow and expensive as the USA. Uptime is legitimately amazing. But when you look at the computational speed - a Raspberry Pi on a UPS is probably more powerful. Trust is great. How do you do a chargeback on a fraudulent transaction on Ethereum? There are some amazing theoretical gains for Blockchain technology. I hope they become practical in the near future.
  - anon9001 5y ago
    > Speed? In the UK I can send money for free to any other UK bank account instantly. Not everywhere is as slow and expensive as the USA. If you believe that all the world is really the divine right of the queen, I suppose sending payments instantly within the UK is more than sufficient. > Uptime is legitimately amazing. But when you look at the computational speed - a Raspberry Pi on a UPS is probably more powerful. Way more powerful, but practically useless, as 100% uptime globally is the requirement. > Trust is great. How do you do a chargeback on a fraudulent transaction on Ethereum? Blockchains completely prevent chargeback fraud by simply not allowing for reversal of transactions. You might not want this feature if you're buying a cup of coffee, but it's very important if you're dealing with large sums.