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In your opinion how long is it before the dust will settle? IMHO, the dust has already settled and been washed away by the rain water..

by yumraj 4y ago

x86x87 4y ago
I think there are 2 scenarios really: 1) btc and eth go to zero or 2) we have btc and eth gaining the full recognition and regulation Blockchain as a technology is revolutionary and will be used in niche problems outside of crypto. One thing that most people seem to miss is that money is only as good as our faith in it. No matter what instrument you use this has to apply.
- l33t233372 4y ago
  In what sense is blockchain revolutionary? Merkle trees are many decades old.
  - x86x87 4y ago
    Distributed consensus with zero trust.
    - dale_glass 4y ago
      Only in an extremely limited sense. You have to trust the developers, for one. Also it's only trustworthy as far as everything happens on the blockchain. Once you step off it for even a second, it doesn't help. Eg, witness the absolutely amazing number of scams happening in the area, and the number of well known, and supposedly trustworthy services suddenly crashing and burning.
      - x86x87 4y ago
        There are a set of rules that applies to everyone and are enforced by everyone. Re: trust the devs: do you trust the electricity in your house? What about the wires in the wall? Do you trust others to follow traffic rules?
        dale_glass 4y ago
        The point is that blockchains have different incentives for different parties, and the interests of the most influential people don't necessarily align with those of the users. So the vast majority (users) are just really switching to a different master. Eg, I had a passing interest in BTC, but I my interest was in the very old school "buy pizza with it" kind of use. That usage is of no interest or importance to the current BTC system, and it doesn't matter one bit how many of me there are. The people who matter are the people who commit to the repo, the people who run miners, and the people who run exchanges. The desires of the 99.9% who aren't any of these are nearly irrelevant.
- yumraj 4y ago
  I, personally, don’t think we’ll get to either of those two scenarios for a really really long time. Reason, too much money has been invested into them. I believe it’ll trickle to zero slowly, but very slowly, over a long period marked by lot of volatility.

In your opinion how long is it before the dust will settle? IMHO, the dust has already settled and been washed away by the rain water..

by yumraj 4y ago

In your opinion how long is it before the dust will settle? IMHO, the dust has already settled and been washed away by the rain water..

x86x87 4y ago

I think there are 2 scenarios really: 1) btc and eth go to zero or 2) we have btc and eth gaining the full recognition and regulation Blockchain as a technology is revolutionary and will be used in niche problems outside of crypto. One thing that most people seem to miss is that money is only as good as our faith in it. No matter what instrument you use this has to apply.

l33t233372 4y ago
In what sense is blockchain revolutionary? Merkle trees are many decades old.
- x86x87 4y ago
  Distributed consensus with zero trust.
  - dale_glass 4y ago
    Only in an extremely limited sense. You have to trust the developers, for one. Also it's only trustworthy as far as everything happens on the blockchain. Once you step off it for even a second, it doesn't help. Eg, witness the absolutely amazing number of scams happening in the area, and the number of well known, and supposedly trustworthy services suddenly crashing and burning.
    - x86x87 4y ago
      There are a set of rules that applies to everyone and are enforced by everyone. Re: trust the devs: do you trust the electricity in your house? What about the wires in the wall? Do you trust others to follow traffic rules?
      - dale_glass 4y ago
        The point is that blockchains have different incentives for different parties, and the interests of the most influential people don't necessarily align with those of the users. So the vast majority (users) are just really switching to a different master. Eg, I had a passing interest in BTC, but I my interest was in the very old school "buy pizza with it" kind of use. That usage is of no interest or importance to the current BTC system, and it doesn't matter one bit how many of me there are. The people who matter are the people who commit to the repo, the people who run miners, and the people who run exchanges. The desires of the 99.9% who aren't any of these are nearly irrelevant.
yumraj 4y ago
I, personally, don’t think we’ll get to either of those two scenarios for a really really long time. Reason, too much money has been invested into them. I believe it’ll trickle to zero slowly, but very slowly, over a long period marked by lot of volatility.