Is blockchain a meme, Sup Forums? I can't go more than a day or two without hearing it mentioned at work

Is blockchain a meme, Sup Forums? I can't go more than a day or two without hearing it mentioned at work

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It's gonna be raped when quantum computers arrive to the normal house. Just wait.

Why

Try working at a blockchain startup

This will never happen. There is absolutely no need for quantum computing in commercial applications. Only very specific scientific operations benefit from it and only scientific institutions will have a use for them.

>blockchain startup
its bad, huh?
what you need is to develop an aural filter, one that randomly substitutes [memewurd] from a list of more appealing alternatives, like 'blowjob' or 'blastedbutty'. Makes spending the day wondering what the fuck a 'blockchain startup' is s'posed to do exactly anyway more appealing.

It's not just a meme.

>working at small companies
>let alone startups
Nice career suicide you're committing there, boy.

PROTIP for those who haven't killed their own career yet: NEVER accept a position at a non-Fortune 500 company.

Thats what all say back in the days to personal computers hahahahaha

Blockchain tech is just a really shitty database system.

>its like uber but with a blockchain powered by artificial intelligence and an module for decentralized machine learning.

>This will never happen. There is absolutely no need for digital computing in commercial applications. Only very specific scientific operations benefit from it and only scientific institutions will have a use for them.

Why?

Quantum computers aren't that good at breaking hashes, look up Grover's algorithm.

t h i s

Yeah. Trustless, decentralized, unhackable and global database system.

Probably because he has a cushy job at some large tech company where they cap your pay without telling you and you're stuck there forever. The guy doesn't have any insight on how to move between companies most likely.

Some algorithm are quantum resistant.

There is no place in fortune 500 companies for everyone, and it's full of pajeets.

> another NEET that see's "3 years experience" and thinks "they really require that"

kys

> another NEET larps as not NEET

kys

Blockchain is a fucking buzzword... but overall the whole freakshow reminds me a bit of "the internet" around 1997. You can tell that the technology is new and will most likely stir up the state of things, but people, companies etc. still have a lot of things to figure out to actually make it work in way that makes it something new.
(e.g. "the internet will let you make cheap phone calls","Email will never replace fax", "we don't need a website, what should we write on it anyway")

Sucks when I have a job and live the skiing mountain life. Job isn't in the industry I really care about (digital gambling), but who cares? I'm getting paid SE2 money as an SE1 and have only upward momentum for the foreseeable future. Nice job outing yourself as a NEET though.

Nice larp, NEET.

Don't forget your meds sweetie.

What the fuck is blockchain?

Aw muffin. It's alright that you're jobless. I'm sure mommy is bringing your tendies soon. Don't sperg too hard.

seconded. it's like e.g. internet or virtual reality headsets

embarrassing post by embarrassing, larping person

What's a blockchain

bitcoin uses there different hashing algorithms. that way if any of them get broken, they can easily swap it out for a different one.

nope it's not a meme. it's a very useful technology. even the bankers who call bitcoin a fraud are praising blockchain

to understand what a block chain is you need to know what a block is. a block is basically a bunch of transactions packaged together. a block chain, is a bunch of blocks chained together.

the blocks are chained via mining, which is an expensive operation. therefore if you have a block chain with a lot of blocks, it means a lot of work has got into mining it, making it trustworthy.

>really shitty database system
Yeah because I trust company X holding all my info in their MySQL database that's doing mass dumps to ad agencies, various governments, and possibly fraudsters

>if you put a lot of work into something, it becomes trustworthy
Cointard logic, everyone!

Sounds like a bunch of buzzwords tied together. See

what if for every cpu produced a second one is produced and given to the US military?
Would your point still be true?

Well they have a capitalistic incentive for being trustworthy. What's the incentive for the edgy anarchists running Bitcoin?

hint: the bc doesn't prevent any of that

You're retarded.

That's the point, we don't have to trust them because we're FDIC insured. What insures us if Bitcoin goes wrong? Spoiler alert: nothing.

thanks for the lol

>what if for every cpu produced a second one is produced and given to the US military?

you mean if the US military owned half the hashing power? no it would not be trustworthy. blockchain's weakness is if someone owned half the hashing power and abused that power to alter the blockchains

Well nothing will with China holding majority power over btc right now.

It's as if a bunch of nerds took the "china new superpower" meme too seriously.

>you have to trust 50% + 1
Geez, I saw that go wrong once but I don't remember where...

BitLicensed exchanges have to have insurance.

yeah, way better to have the federal government bail out banks when their risky bets fail.

is it possible to build a chip fab underground?

quantum computing is just new way of storing/passing data. it will not make your computer faster with the current limit in moores law

normal computers sends and store data in 2 states. on and off
while quantum computers can send and store 21 states.

t. that kid

is it true that ppl are storing child pedophilia on the block chain? D:

Its not a meme, distributed ledger technology is the way forward whether or not its implemented in cryptocurrencies. HOWEVER...the amount of power used to mine just Bitcoin is equal that to the power consumption of Ireland, and Bitcoin has not even gone mainstream yet. So there is no way cryptocurrencies can scale up to be used as a means of currency and wealth transfer as their is not enough electric power in the world to run it.

Also once all the miners have mined all the value out of Bitcoin, the value of Bitcoin will crash as there are no longer miners holding up the system.

I would prefer not to.

>Quantum computers break blockchain
No they don't reddittard

t. someone who never read the whitepaper

bloomberg.com/news/articles/2017-11-29/bitcoin-ought-to-be-outlawed-nobel-prize-winner-stiglitz-says-jal10hxd

>once all the miners have mined all the value out of Bitcoin
This has to be a troll

That's not the problem with bitcoin at all. The problem is that the ever increasing power costs make it prohibitive for most people to try to mine making the block validation essentially centralized among a handful of groups. Also if the value of bitcoin doesn't scale infinitely it will inevitably be conceivable that a government entity could procure enough hash power to harm it greatly.

People say "blockchain" because they don't want the stigma associated with saying "cryptocurrency."

But blockchain is simply a public, decentralized, cryptographically-sound record keeping system.

The problem with it though is that when the size starts scaling to retarded proportions a large portion of the clients stop storing it. Like what happened with the bitcoin blockchain. Over time it will become less and less decentralized.

Individual clients aren't SUPPOSED to store all of it. That's the entire point of decentralization. It's not like a BitTorrent where all the seeders need the whole thing (because otherwise what's the point?); with Blockchain all that matters is that for any block, there are several (and, in reality, tens of thousands) clients who can validate it.

The fact that some people have the entire blockchain and others don't doesn't mean anything. You could randomly remove 99.999% of the clients on the chain and still maintain integrity; no single computer (or even massive super computer cluster the size of New York) actually matters.

A waste of electricity.

Literally just a data structure.

Not all blockchains have to use proof-of-work, you know. There are plenty of reasons to use cryptographic integrity without assuming that users are constantly attempting to undermine it, and can use far more naive consensus methods.

blockchains could eventually kill banks and investing markets so governments who are cucked by the capital won't let them live without legal regulations.

Protip: blockchains are upgradeable software.

I like this wojak he looks like that one Yu-Gi-Oh monster

>every person before 1990's

it's only unhackable if you have enough miners verifying constantly. otherwise it's easily hacked

Thats bitcoin. blockchain is perfectly hackable.
Blockchain is old tech. Like pre-2000's old. Bitcoin is revolutionary because of the way it achieves consensus without being centralized.

LMAOOOOOOO

THIS D E S U

BANK OF AMERICA AND CHASE NEEDED TO BURN IN HELL. FUCK OBAMA. FUCK LIBERALS. FUCK LIBERALISM. FUCK NEOCONS.

>Bitcoin is revolutionary because of the way it achieves consensus
It doesn't. There's like a dozen forks by now.

Yeah cause Fortune 500's are just lying around in every backwater town with an internet connection are just dying to hire College students who don't even have degrees yet.

>more than 50% of blockchain nodes owned by the government
Ayy

Ethereum clients have a light mode which only syncs block headers. They then request transaction information on demand from a full node. I agree scalability is a big issue but fortunately the devs do too.

yes