Comments on: Bitcoin Q&A: Bitcoin vs. blockchain

By: Frank Plata

Frank Plata — Mon, 12 Aug 2019 14:42:36 +0000

Some might get rich quick as well, but if they don’t know how to manage money, in few months/days they will be back on same point they were before.

By: Statistically Challenged

Statistically Challenged — Mon, 12 Aug 2019 14:42:36 +0000

Anton has something for horses lol.

Great talk as always!

By: potsikis21

potsikis21 — Mon, 12 Aug 2019 14:42:36 +0000

Χαιρομαι παρα πολυ που καποιος ελληνας μας κανει υπερηφανους για την ελλαδα,μετα απο ολα αυτα που μας εκαναν να την σιχαθουμε

By: Christo

Christo — Mon, 12 Aug 2019 14:42:36 +0000

you always look at things in a new way. thx for all you do for btc and crypto.

By: David Clark

David Clark — Mon, 12 Aug 2019 14:42:36 +0000

It seems to me that the blockchain owns all bitcoins forever. When I buy a bitcoin I buy a usufruct, but never an actual bitcoin or I could remove my bitcoin from the blockchain.

A moot point in bitcoin, but in tokenized assets with a distributed blockchain I am reduced to unsecured creditor status. Comparable to having a registered stock certificate vs. an brokerage account statement where the asset is owned by Cede, Inc and I am an unsecured creditor with an iou called an account statement. In tokenized assets, the blockchain is Cede, Inc.

Where am I right/wrong?

By: Luke Patteson

Luke Patteson — Mon, 12 Aug 2019 14:42:36 +0000

Soooo Blockchai is going to be a fad for nerds or is going to be banned if mass adopted?

By: idliketosay

idliketosay — Mon, 12 Aug 2019 14:42:36 +0000

Tell me if I'm wrong, but this is what I'm understanding so far and it does not sound like the concept of decentralization will ever work (though a great thing to dream about like a utopia)...
1. decentralization will lead to many many types of currencies (as we are seeing now with 1300+ digital coins)
2. since everyone and anyone (hypothetically) gets a say on the value of each digital coin, digital coins will continue to fluctuate daily based on how popular each coin is via SOCIAL MEDIA, instagram shoutouts, tweets, advertising, etc. (no stability)
3. so basically, since social media (the popularity contest) will control the value of a digital coin - because there is no central party doing so - the volatility will always be there and render it pretty much useless/unreliable on daily basis
4. there can never be just one "bitcoin", as the technology can be duplicated and another bitcoin copycat can just be created out of thin air (as we see now)
5. if there ever is the-one-the-only digital coin, wouldn't there only be a few who ends up holding all those coins (like they are now - these damn whales). again, these whales would control most of the wealth (let's not kid ourselves, at the rate it costs to mine a bitcoin now, soon only corporations will be able to afford mining them, plus cheap Chinese labor/electricity costs such as in China now)
6. also, this one and only coin would only have value based on what it's worth compared to the the dollar. once everyone on social media votes this coin worthless cause of these greedy whales, a new coin will become the big boss and the cycle starts all over again. (no stability)
7. my point, I am starting to feel like these "decentralization" guys don't understand the true reality of 'decentralization". CHAOS, INSTABILITY, the wild wild west on the world wide web, then in the real world.
8. there is a reason why we live in a civilized nation, because we have rules and laws that are centralized, same can be said about our current currency.
9. i don't think a decentralized currency will do what these people are hoping it will, but i hope i am wrong.

By: Angry Munky

Angry Munky — Mon, 12 Aug 2019 14:42:36 +0000

My man, always delivered. So glad I donated.

By: Richard UK

Richard UK — Mon, 12 Aug 2019 14:42:36 +0000

Bottom line is that Bitcoin is just a bunch of numbers (as are all other digital currencies based on the Blockchain) and no matter how much it costs to find these numbers, they’re still just numbers. So if these numbers can’t be used for anything meaningful, then what real purpose do they serve? What else could one use these numbers for? At least empresa can be used to make phone calls and has a use. So why should ANY digital currency that doesn’t come with a built in commodity be worth anything at all? The answer to these questions should tell anyone out there the true value of any digital currency. In my humble opinion, any digital currency that does not come with an inseparable commodity, is simply playing the FIAT game. Even Bitcoin Gold which is supposedly backed by gold today, may, just like the dollar, one day not be backed by gold. Perhaps the future for digital currencies lay not in one dominant currency, but in thousands. Think in terms of buying electricity in advance at a known value in the hope of saving money in the future. Perhaps then we’re all destined to become traders in the futures market of whatever commodity we have a use for? As for the contract side of things, well that’s just a decentralised database and would anyone want to invest their hard earned cash on say a bank’s database or a database of property owners and what property they own?