>Blockchain technology supposed to revolutionize the world
>Sup Forums not interested in it, despite having a young and nerdy techie audience
>Sup Forums literally has threads about everything else
>/biz/ becoming one of the biggest boards on 4ch, with NEETs dreaming about lambos
So the tech is shit and it's a bubble ye?
TLDR: why isn't Sup Forums talking about blockchain?
I don't know, I work in finance and I have no idea why the fuck people think bitcoins are valuable; like it baffles me.
>You can do secure transactions!
>You can protect yourself against inflation!
But I still have no idea why people would use bitcoin rather pokemon cards. The actual mining of bitcoin doesn't exactly produce anything except the ability to continuously use bitcoin ledgers.
Likewise, the only way to cashout depends on a market actively buying and selling bitcoins. I don't understand how bitcoin is any better than a stock without any sort of shareholder rights.
It used to get discussed here all the time, right up until /biz/ was created as a containment board for cryptocurrency threads
Using blockchains for things other than cryptocurrencies is a fairly arcane topic, and AFAIK despite a lot of talk and a lot of research, nobody has implemented any other interesting uses.
Because Sup Forums is just a glorified Sup Forums and their whole crypto experience is being cucked out of GPUs by miners so they're always throwing a shitfit about it
China banning it busted the bubble
/biz/ was created to get blockchain realted shit off of Sup Forums.
Bitcoin's selling point is on frictionless transactions. But what good is this when the valuation fluctuates 20% a day?
With tulips, at least you can decorate your house.
Lol, so you think /biz/ actually discusses the tech? It's all lambo's and wojaks. The board is strictly a get-rich-quick circlejerk. The trading should not be discussed here, sure, but if Blockchain is the tech revolution crypto shills are saying it is, surely it should be discussed more here.
t. OP, I also hold around 15k$ in crypto.
No, anything related to buttcoins is /biz/
Bitcoin is purely a fucking cartel of chinese miners telling everyone else what to do. Nothing else. Guess what happens if China bans Bitcoin mining?
The difficulty will remain astronomical and no one will find a single fucking block from that on.
Anyone who thinks Bitcoin and these mining cartels are a solution to the issues they see with world economics are naive idiots.
Take this from a guy who has been watching crypto closely since 2010. The big boys already have this sorted out.
I was an early adoptor but now am out. I did very well financially.
What interested me is that you could hold your bitcoin in your own wallet. No banks, no bullshit.
But now the blockchain is so large it is not practical to download the blockchain and run the wallet software on your own computer. You have to use services like Coinbase or blockchain.info, which defeats the whole purpose of a peer to peer monetary system.
You can use Electrum which connects to servers devoted to running software that connects to the bitcoin daemon. I tried to help out the bitcoin ecosystem for a while by running an Electrum server. But now, with the size of the blockchain, it takes weeks to download and process the blockchain to start up. Then it requires massive resources to maintain.
The Achilles heel of bitcoin is blockchain bloat. If you have to rely on a third party to access your coins, you might as well use PayPal, mastercard, or Visa.
This is true for all blockchains. Eventually it gets so large that it is unmanageable.
>Guess what happens if China bans Bitcoin mining?
Anonymous coins will skyrocket like they started doing when the last rumor of a ban came along. One of the best investments you can make right now because the majority of crypto holders haven't realized that Bitcoin is not private or don't understand why privacy will be required in the future.
Sup Forums talked about it in 2011
So you're literally saying "Buy XMR"
Practically no-one cares about the tech, everyone is just in it to make NEETbucks. Which is a fucking shame because there is some really cool and interesting tech behind many of the later generation altcoins.
see They stopped gaming for a couple of hours and used their meme gpus paid for by their parents' and couldn't get it to work. Haven't you noticed that most of the threads here are on what to buy?
i cant send you a pokemon card in seconds across the world. mining produces blocks that secure those transactions and give the chain validity
Same, Sup Forums was talking about bitcoins back in 2009, I made a decent amount of money, not nearly as much as I could have though.
Now adays I really don't care about cryptocurrency's. Sure their price will continue to appreciate, I mean, supply is limited and the more the price goes up, the more interest the public has which drives up price further as more people invest. But at this point I consider it a failed venture, it was meant to replace banks, and be used as a replacement currency. Right now cryptocurrencys only exist because its a place for the chinese to hide their money from the government, and for everyone else it just exists for speculation.
This thread is about blockchain, not Bitcoin.
Bitcoin is a decentralized currency which uses blockchain technology, and is the most well known use if blockchain.
However, blockchain technology has many applications across many industries, from manufacturing to copyright protection. Decentralized currency is one application of many. The core idea is that of a decentralized ledger which can record transactions between many independent parties, but cannot be manipulated by bad actors on the network.
hbr.org
The strength of blockchain comes from the idea of "smart contracts" - something which is notably ABSENT (or at least, present in a very limited capacity) in bitcoin. Although bitcoin has strength from it's branding and name recognition as a currency (or possibly as an investment, the idea and usage of bitcoin is changing constantly) it has no bearing on the usage or possibilities of blockchain itself.
Blockchain WILL have a major effect on the finance industry - we can already see it having an impact. There's a reason why IBM, Goldman Sachs, Chase, and many other fortune 500 companies are investing in this technology:
jpmorgan.com
goldmansachs.com
fortune.com
That second goldman sachs link has a good entry level description of why blockchain will revolutionize the finance industry. Read Section B, on more efficient markets. This is the future of blockchain - not bitcoin. Blockchain is MUCH more.
Even if it may not be noticeable to the public, or anons on Sup Forums and /biz/, blockchain is already making waves. Those who only see bitcoin when they think of blockchain are missing the point.
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Blockchains are ALL subject to bloat which makes them unmanageable. For private applications it is far more effective and efficient to use a simple database.
how can someone invent this shit and not patent it? damn
Any good videos/documentaries about Blockchain?
I've been mildly interested in using ethereal blockchain as a P2P database for a certain project.
Because its a solution to a problem that doesn't exist.
You work in finance and you still can't see that bitcoin literally has value from the same source as the US dollar (both are Fiat currency... It has value because people think it has value. No other reason, it's not worth so so much gold or anything real, it's just worth itself)
The block chain is basically just a shared database that collect all transactions. Beyond that people here don't have the financial or mathematical knowledge to appreciate the way it works
I think a problem like a single company having full control over TXs does exist.
is right though. Right now the Ethereum network is fairly manageable for companies wanting to deploy smart contracts and I believe Buterik is proposing a solution for managing its size, but if things continue, Ethereum will soon be unmanageable.
It's fairly easy to spin up a blockchain through tendermint and ethermint. For most simple applications a relational DB will suffice though.
The value of a fiat currency is in the authority of its backer. It holds value by context, not just by existing.
>blockchain technology
>2K17
>what is iota
Umm, sweety?
It's interesting technology but the currency itself is a gamble for those with disposable income. If you want to make money off it, you need to be one of three:
1. Person with a shit load of extra money to gamble on making a profit from market inflation.
2. Hobbyist with access to a shit load of available graphic cards or specialist mining hardware. Usually part of an architecture or visual design company.
3. Mediator running an exchange service or wallet with good market advertisement and user reviews.
Unless you are one of these three, you are wasting your time on it unless it is out of pure interest.