Blockchain and the future

Togu

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Good and simply explanation with disruptive examples:



A game where virtual cats are valuable because there is a community of people that sees value in it (like baseball cards):


Goodbye Uber, hello ArcadeCity


Bitcoin: a peer-to-peer eletronic cash system

With the technology of smart contracts with the solidity language and the ethereum network we can also optimize many processes that today involves human decisions


This is the first time in history that humans made something that is imutable and doesnt deteriorate.

So, lets discuss it, it opens a world of possibilities.
Like the end of cash management corruption, the traceability of almost everything.

Does anyone know if there is a system of hosting servers in peer-to-peer? Is it possible? Im not good in network systems, I'm still a student. Was thinking on hosting a pvp 7.1 server but it crashes everytime with nukers and bug abusers and maybe there could be a system where the community always put it up again if it goes down.
 
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Evil Puncker

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just fix your bugs instead 🤔 so it doesn't go down
 

GhostX

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Merrok

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Does anyone know if there is a system of hosting servers in peer-to-peer? Is it possible?
Thats a horrible idea. It would mean that any client acts as a server as well and thereby the modification of data is much easier.
There is a reason for client-server architecture. Look at what happened to GTA Online with their Peer-to-Peer architecture. It's a mess.
You can harly temper with old data, which is part of the idea of blockchain, but you can with real-time-data.


People don't understand what blockchain really is, which is the whole problem. At the moment people like it because it's a hype. And that's all it is, just a hype which is actually declining at the moment.
Blockchain isn't an ethereal thing you can just "put" things into, it's a data structure.
And blockchain is not as safe as you think it is. To date, there are 3 top crypto-currencies that have been hacked. How is this possible if blockchain is supposed to be "soooo safe"?

Please do your research and don't jump on an outdated hype-train right away.

There is no single person in existence who had a problem they wanted to solve, discovered that an available blockchain solution was the best way to solve it, and therefore became a blockchain enthusiast.

1569756598306.png

Edit:
This is the first time in history that humans made something that is imutable and doesnt deteriorate.
Yeah, this is wrong as well.

Like the end of cash management corruption, the traceability of almost everything.
Omg stop and do your research.

Both these quotes are shown as falsified with my really small text from above...
 
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Togu

Togu

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People don't understand what blockchain really is
What do you think blockchain is?

So, you don't think AirBnb, Uber and Spotify can disappear with blockchain and smart contracts? What do they do for you? Why do you pay them?
Why should I use a private database and pay for it and loose my time doing management when the whole world can share the costs and management without paying someone to do that?

Blockchain is a technology that is still premature, there are new protocols appearing where you dont need to hold the entire ledger. You have to think globally and look for the future, not "the China has more then 50% of the miners on the world blablbla". The future is collaborative.

And anyone that understands the real disrupting purpose of blockchain can understand that if you need a private database your business is probably not decentralized
 
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Merrok

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What do you think blockchain is?
Blockchain isn't something for a person. It is a data structure. That doesn't change with the opinion of a person.
It's mathematics. Not some opinion. 2+2 doesn't change just because you believe it's 5.

A new data structure will not make whole companies disappear. There is a lot more needed to make such companies go out of business.
You still seem to have a wrong understanding of what blockchain really is :p
It isn't some company taking over the world.

Why should I use a private database and pay for it and loose my time doing management when the whole world can share the costs and management without paying someone to do that?
Ok, so you'd rather use blockchain, which can be hacked and decrypted, than a completely separate database that is basically impossible to get into if done right.

Ok, I can see that there is no point in arguing with you since you will not change your opinion based on facts.
There is simply no point in arguing with anyone being this subjective and emotionally bound to an opinion.
 
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Togu

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I think it looks more like you didn't understand what I said.
I know it's a data structure.

What does AirBnb, Uber and Spotify does? Sells data. From someone to another one.
Do you see where I'm going?

People don't need companies to find hotels, music or drivers. People HAS houses, people HAS music, people ARE drivers.

Why pay a company if I can pay people? Thats what the blockchain data struct provide us lol
 

Yamaken

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For me Blockchain is like a decentralized way of bookkeeping. Smart contracts is a tool to manipulate the bookkeeping. I do think we should get ride of uber, airbnb and all those "smart" startups that just wants to manage someone else job/property far away at the top dictating the rules and etc.

And i think what Uber and AirBnb do is to connect people.
 

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It is however, digital transformation.

Blockbuster to Netflix... Woolworths to online retailing...

Blockchain is a solution. We are in an era of paid convenience. Everything we do and purchase is out of convenience. Buying your steak at a supermarket is literally you paying for someone to farm, feed and nurture that cow to then slaughter it, cut it, package it, deliver it to a single convenient store for you to pick it up and take it home, ready to cook.

Blockchain provides solutions to reduce time. It is in the process of even helping reduce debt. FedNow is one initiative that is looking to remove the requirement of credit for US workers. They've identified the problem that too many workers are living paycheck to paycheck and to be paid monthly, they turn to credit. FedNow is going to allow the facility to be paid weekly, daily and even hourly for a fraction of the administrative time and money it costs now.

Ripple are also progressing in the settlement & real time payments industry and have taken on huge clients from AMEX to MoneyGram and with all the hype and all the hate XRP gets; at some point, it will be THE solution that is adopted.

Smart contracts is a very good concept also and it will take off. Technology moves so fast, it doesn't matter if you embrace it or not, it will happen regardless. It's easier to accept it and ride the wave.

Convenience is king in a life of limited hours.
 

Merrok

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True, but blockchain has existed for over 10 years and it is still almost only used for jokes and not serious applications. Not counting cryptocurrency which you can see declining in interest as well.
Blockchain is NOT a more efficient solution though. The funny thing is that for most things the hardware is ahead of the software anyways.
We use less efficient algorithms for mathematical problems because we can afford to nowadays.
Of course there are upsides. But it is really naive to think that this simple idea will take over the world when it has barely done anything in over 10 years.
And very true that we use most applications like AirBnB because it's simply easier. People use it because it's easy. We have lived without it for a long time. Of course we can live without it, but we choose not to.
 

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Hmmmm.. You say it's not efficient but look at Ripple and their XRapid platform for settling currency.


Infographic taken off their website

In this case, it is a much more efficient solution to transferring money globally and right now, there is nothing else that can compete. However, until the SEC rule on it, there is a lot of corporate uncertainty so the banks they have partnered with are using Xcurrent for now.

However, I do agree that there are a lot of "joke" uses right now but things like autonomous bar tending and automation are things blockchain is making moves in. I remember even seeing a thread in here about BTC and it was like $4 a BTC at the time and people were saying it wouldn't take off...

As I mentioned, technology will always progress regardless of whether it is adopted or not. Blockchain with the "Internet of Things" is the current catalalyst.
 

Merrok

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Why should I use a private database and pay for it and loose my time doing management when the whole world can share the costs and management without paying someone to do that?
Hmmmm.. You say it's not efficient but look at Ripple and their XRapid platform for settling currency.

Infographic taken off their website

In this case, it is a much more efficient solution to transferring money globally and right now, there is nothing else that can compete. However, until the SEC rule on it, there is a lot of corporate uncertainty so the banks they have partnered with are using Xcurrent for now.

However, I do agree that there are a lot of "joke" uses right now but things like autonomous bar tending and automation are things blockchain is making moves in. I remember even seeing a thread in here about BTC and it was like $4 a BTC at the time and people were saying it wouldn't take off...

As I mentioned, technology will always progress regardless of whether it is adopted or not. Blockchain with the "Internet of Things" is the current catalalyst.

Sorry should have been more specific. Generally it is not :p
And ye I know that website, I've seen this image before. Though it is their website, so you never know how much they adjusted.

The thing is that technology can be passed by new technology very very quick. And people are constantly working on finding new, more efficient, solutions. It is exactly as you say, technology progresses. Fast. Look at Moore's Law alone to see how fast it really is. It is astonishing. And that only describes the density of transistors

I simply see too many issues for this to be "the next big thing" besides it already being out there for a long time.
But I might be wrong as well. IBM invented the first smartphone and it was a flop. The time simply wasn't right and people were not ready. Apple on the other hand had the right timing many years later.

I'm simply very critical against things that are hyped this much.
There is also so much technology we barely hear about if we don't specifically look into it. Things that are amazing technology but they don't get much publicity. Anyways... That's a completely other topic.
 

Gesior.pl

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Hmmmm.. You say it's not efficient but look at Ripple and their XRapid platform for settling currency.


Infographic taken off their website

In this case, it is a much more efficient solution to transferring money globally and right now, there is nothing else that can compete. However, until the SEC rule on it, there is a lot of corporate uncertainty so the banks they have partnered with are using Xcurrent for now.

However, I do agree that there are a lot of "joke" uses right now but things like autonomous bar tending and automation are things blockchain is making moves in. I remember even seeing a thread in here about BTC and it was like $4 a BTC at the time and people were saying it wouldn't take off...

As I mentioned, technology will always progress regardless of whether it is adopted or not. Blockchain with the "Internet of Things" is the current catalalyst.
I got to comment this, because it's sooo funny :D
All block-chain promo graphics show statistics that are false.

TRADITIONAL SYSTEMS: 3-5 days
In 3 days I could travel to any place on earth and deliver you money by myself!
What system transfer money for 5 days?

Credit cards [Visa/Mastercard costs ~0.7% in Poland, 0.00 charge 'per transaction']: BEEP, 1 sec, done
Polish fast-bank-payment-transfers [costs ~2% of transfered money for processing company]: 1 sec
Polish fast-bank-transfer [~1 euro, 0%]: few sec

----------------------

MasterCard process 60.000 transactions per second and it's online fucking ALWAYS! There is NO DOWNTIMES! No hacked bank accounts or decrypted credit card numbers!

If you read BTC specification, it says clearly that system cannot handle more then 10 transactions per second. Which resulted in cost of transfer of up to 140k $ per transaction in BTC popularity times [when it was around 20k$ per BTC].

All your 'fast crypto transactions' are not real crypto transactions. People 'transfer BTC' by exchange websites.. that keep their 'BTC balance' as MySQL records, not operating on real BTC!
I read about 3 big exchange sites that were hacked and disappear in few seconds.. with all 'customers' BTCs. Hackers stolen bilions of USD!

In my opinion all crypt currencies prices are controlled by banks. They manipulate it with their billions of dollars to suck dollars from idiots that 'invest' into crypto.

// I had to prepare 15 minutes presentation on studies and I choosen topic 'crypto currencies', so I had to do some research including security and programming side of it.
 

soul4soul

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I got to comment this, because it's sooo funny :D
All block-chain promo graphics show statistics that are false.

TRADITIONAL SYSTEMS: 3-5 days
In 3 days I could travel to any place on earth and deliver you money by myself!
What system transfer money for 5 days?

Credit cards [Visa/Mastercard costs ~0.7% in Poland, 0.00 charge 'per transaction']: BEEP, 1 sec, done
Polish fast-bank-payment-transfers [costs ~2% of transfered money for processing company]: 1 sec
Polish fast-bank-transfer [~1 euro, 0%]: few sec
It might be difficult and expensive to travel from Antarctica to Petropavlovsk-Kamchatsky, Russia in 3 days. How often does a plane or boat even leave Antarctica? It is technically possible to move between two locations anywhere in the world with unlimited resources. In reality it's may not be possible to get another location in the world in 3 days.

When it comes to physically moving money from one place to another it takes time. Checks are a good example of it taking time for money to move. Depositing checks in the US it can take a few days before the check is cleared and the funds are available to spend. Transfer money from a bank in the Caribbean to a US may take even longer. Banks limit the amount of checks that can be deposited into a account in a given day. Banks and the employees take holidays which pauses and slows down processing.

Credit card processing are not moving money each transaction. CC companies are only recording transactions. Depending on the company they are working with they do a bank transfer daily or monthly. I've never heard of hourly transfer but is possible some companies have special deals with the CC companies)

Cryptocurrencies have no downtime and no central organization that needs to be trusted. That said in general I would say I'm personally not effected by the rate at which money moves in the real world.

Last thing is that it's exchanges and distributed contracts which are getting hacked.
 

Don Daniello

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Credit card processing are not moving money each transaction. CC companies are only recording transactions.
So does cryptocurrency. It's not moving you money, there's no money.

Transfer money from a bank in the Caribbean to a US may take even longer.
Sure, but it doesn't have to. It's like comparing the transfer of BTC into XRP.

Banks limit the amount of checks that can be deposited into a account in a given day.
So do cryptocurrency exchanges.

Banks and the employees take holidays which pauses and slows down processing.
And cryptocurrencies die and get hacked with worse effects.


Right now, cryptocurrency transactions take much more time and cost more than similar CC transaction would cost. I'm not saying that blockchain technology is bad but current cryptocurrency isn't going to win over any market the way it works now.
 

whitevo

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I see no reason for Cryptocurrency in Europe, US and other advanced economies.
However, Africa is a good place to start because banking there is not good. + some other problematic countries.

I'm myself still invest and follow Cardano Development.
Even though I have lost ~60% of my total money within 2 years, I'm still a believer.
1 Day might even build some contracts with Plutus.
 

Gesior.pl

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Cryptocurrencies have no downtime and no central organization that needs to be trusted. That said in general I would say I'm personally not effected by the rate at which money moves in the real world.

Last thing is that it's exchanges and distributed contracts which are getting hacked.
List of bitcoin forks - Wikipedia (https://en.wikipedia.org/wiki/List_of_bitcoin_forks)
Intended soft forks splitting from not-most-work block
  • The fork fixing the value overflow incident was controversial because it was announced after the exploit was mined. It was assigned CVE-2010-5139.
Unintended hard forks
Two hard forks were created by "protocol change" definition:

  • March 2013 Chain Fork (migration from BerkeleyDB to LevelDB caused a chain split)[3]
  • CVE-2018-17144 (Bitcoin 0.15 allowed double spending certain inputs in the same block. Not exploited
As we can read BTC was HACKED (protocol/algorithm, NOT exchange website).
Don't tell me there was no downtime to split crypto and move processing units (known as 'miners') to new fork.

Bitcoin 0.15 allowed double spending certain inputs in the same block :D
 

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@Gesior.pl I think you may misunderstand XRP.

The infographic is not false. It is on about the physical cash. Fiat money.

The future of payment settlements will essentially be like so:
USD -> XRP, XRP sent to XRP wallet in Mexico, XRP -> Mexican Pesos.

It means the USD wouldn't have to physically travel to mexico. Ripple isn't a hoax company and there is a lot of hype and hate on it as with all crypto but when you look at the banking partners behind them... why would you doubt them.
 

Merrok

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but when you look at the banking partners behind them... why would you doubt them
If you trust someone or some company is completely safe and awesome and perfect and... stuff... just because someone else, especially a bank, says so, you must be really naive.
Partners with influence and money improve chances for success, not guarantee it. Being skeptic and not blindly believing is smart. Do your own research and don't rely on whatever anyone is saying.
Doubt is always good and needed for progress. Humanity is stupid enough as it is, don't believe everything, it won't bring us forward.
That goes for anything, from any random dick on the internet, including me, to your closest friend. Without facts proven with data and source, it's well, not proven.
And technically going after scientific protocols, nothing can be proven. It is called the theory of falsifiability. Anything is considered true until proven otherwise. Since you cannot really prove something because we can't cover ALL the possibilities and by far don't know everything.
 
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