Idk why everyone rips on blockchain just because it's used for dumb things. If we used blockchain for voting we wouldn't be going back and forth on election integrity.
Highly unlikely. For all intents and purposes it is impossible to create any system, that is anyonymus and trustworthy. And in voting one is exactly as important as the other. If you tried to make electronic voting, keep in mind, that ANY DEVICE in the chain that runs even microcode, or has any form of firmware is suspect. Better cryptography almost makes things worse.
You need to explain that, though they are generally rich, it's not unusual for unheard of princes to occasionally fall on hard times and have their fortunes compensated until they are able to pay a ransom to get a corrupt bank or government to release their vast wealth back to them AND that they are almost always grateful to anyone who assists them in paying that ransom.
Oh wait, sorry, wrong scam.
Wouldn't you find it useful to be able to prove that you paid for something? When you buy an NFT, you're buying just that: the ability to prove that you bought it. And sometimes it even comes with a copy of an image or a spaceship you might just be able to use in a video game or just hold on to until we develop the technology to live in video game spaceships and you sell it for massive profits!
Turn that into an NFT, nerd.
This is bait. It's gotta be.
Obv
If this was Reddit this would be posted on a "CryptobrosLs" communities or something
Reddit has had a "Buttcoin" subreddit making fun of Bitcoin since 2011!
it has been
repeatedly
Oh.
Hah your mom has a cool boyfriend.
My advice is for you to wipe my butt clean with your tongue my guy.
Ah fuck. I'm in a public stall and just giggle farted.
I’m not your bidet, buddy!
Mom's new boyfriend is a smart fella, but her son seems to be a fart smella.
Did Elon write this?
Isn't he on top of many of these pyramid chains?
Probably would if he could
Relationships are like the blockchain.
There's no trusted, central database of all relationships that determines what is or isn't cheating.
That trust is negotiated in each interaction.Marriages follow the traditional method of a chain of trust. There is a central database that lies with the government or the church, and everyone decides which database they want to trust.
You must have an interesting social life that every time you hook up, all past relationships immediately contact each other and vote on whether you are a cheater.
His real name is Scott Pilgrim.
It's part of the survey and mailing list all of their relationships receive the first time they wake up in OP's bed
I’ve read that blockchain itself is a good technology. NFTs are a laughably absurd attempt to exploit that technology for profit.
Xitter op needs to shut up.
It's one of those things where scientists discovered something interesting and novel, and then a bunch of dumb grifters came in to try and make it their new snake oil.
A very, very long time ago, back when Bitcoin was viewed as a currency instead of an "investment" platform, Bitcoin kinda fulfilled the ideal use case for the blockchain. I think now the general public is just too soured on them for that to ever be the case, unless Elon makes Bitcoin the new currency of the U.S...
Blockchain is a solution in search of a problem. A way to establish trust while not trusting any party is a cool concept, but in the real world it's far easier to establish a source of trust.
It is a bad solution though, because it revolves around wasting tons of energy in solving made up problems no one actually needs the solution to. I know there's alternative cryptocurrency that use better methods or solve actual problems but 90% of it is bitcoin.
Congratulations, now your trust relies on your subject never becoming important enough that someone bothers to run 50%+1 of the nodes in your network which means only very, very large subjects (or ones where trust wasn't very important in the first place) ever even have a chance of that not happening. What do you say? Your technology doesn't scale to very, very large subjects because of abysmal transaction rates?
I have a friend who works at a major bank and they use Blockchain technology to keep track of something or other internally, though I don't remember exactly what. In this case at keast we can bet that it has found a problem wirth using it to sokve. Banks are nothing if not efficient.
I find it funny that it was touted as an alternative to the current banking system and ended up being absorved into it though
solution in search of a problem
Idk I think centralised trust is a problem in and of itself but you can just look to history and world events that created bank runs and financial crashes like y'know - 2008, a year later the bitcoin ledger began.
it's far easier to establish a source of trust.
Yes but it also comes with problems as mentioned above. Blockchain tech being used for scams if anything is evidence of it being a mature and functional technology for finance because under capitalism it's all inherently a scam of some sort.
That said we shouldn't let perfect be the enemy of good, I'm glad the technology exists even if I don't think it achieved what it set out to do quite as well as one would've hoped, if for no other reason than the fact we can all just buy any drugs online now with one day delivery instead of being stabbed on the street after calling some number like barbarians in the olden days.
What problem does blockchain solve?
Apparently, it can be very secure. If “pieces” of a secure key are stored in multiple places, for example, only changing one link in the “chain” means it won’t match with the others. They ALL have to be changed at the same time, which is virtually impossible to do in secret.
Please note that I am far from an expert on the subject. I’m paraphrasing an article I read months ago.
Essentially, verifiability (the token exists on the blockchain), de-duplication (each token can only exist once on the blockchain), and proof of ownership (only one account number can be associated with each token on the blockchain). There's nothing wrong with this idea in a technical sense and it could be useful for some things.
But... the transaction process is computationally expensive. For the transaction to be trustworthy, many nodes on the blockchain network must process the same transaction, which creates a whole bunch of issues around network scaling and majority control and real-world resource usage (electricity, computer hardware, network infrastructure, cooling, etc).
And beyond that, the nature of society and economics created a community around this unregulated financial market that was filled with... well, exactly the kind of people you'd expect would be most interested in an unregulated financial market - scammers, speculative investors, thieves, illegal bankers, exploitatitive gambling operators, money launderers, and criminals looking to get paid without the government noticing.
The technology can solve some interesting problems around verifying that a particular digital file is unique/original (which can be useful, because it's extremely easy to make copies of digital information) but it creates a long list of other problems as a side effect.
Nah. the other commenters are wrong.
They're super useful.
Its just that anyone who isn't selling bullshit uses their real name- Merkel trees - which are fundamental to modern software development (git, zfs, nix, nosql).
It's a way of guaranteeing behavior when you shouldn't have to trust any individual to review it. It's a great tool for currency, but most people seem to prefer the system where we treat the companies behind the 2008 financial crisis as the trusted party.
My advice would be "shut the fuck up and listen".
You should join us in the world of Bitcoin. It is a path to freedom. I'm telling you from personal experience.
The best time to plant a tree was 10 years ago, the second best time is now.
This is
A) sarcasm.
B) bait.
C) really bad advice.Wait, is this test multiple choice? Because if so you also need D) all of the above.
https://www.youtube.com/watch?v=XbZ8zDpX2Mg
You guys have been saying this for over 10 years. You sounded so dumb 10 years ago this guy took the time and made this video.
Crazy huh. Imagine what price we'll be worried about Bitcoin CRASHING to in 10 years?
https://np.reddit.com/r/wallstreetbets/comments/18e0ct4/put_my_life_savings_in_to_bitcoin_quit_job/
Join us. Bitcoin is king.
Oh wow can you tell me more?
Dont be a bear
Open with…
Paste
Ok I’m done for now.
Please clean up your mess.
This would make a great NFT
I NFT'd in your mom's pussy last night
Seems like an odd place to run a multilevel marketing scheme out of .. but okay .. I guess it helps solve the virgin problem =)
Explain how the interplanetary file system will distribute all of human knowledge to the galaxy and without block chain it wouldn't work.
I think if humanity is on the stage of transmitting human knowledge throughout the galaxy today's technology would be the equivalent of how we look at the first steam engine today
