blockchain

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blockchain

Postby zetreque on April 8th, 2018, 11:05 pm 

I really don't see how blockchain (for ANY cryotoconcurrency or application) is all that great.

1. Doesn't it consume massive amounts of energy?

2. If it stores all previous transactions, doesn't that become storage and transfer intensive?

3. If it stores everyone's every transaction across multiple servers, doesn't that do away with privacy? If people are already concerned about data mining, that opens the door even bigger to be manipulated by psychologists seeking out your money.

Is this one of those situations where people are like, "Hey we have this great technology, sure it has problems but we will find solutions in the future," then they never do? It just seems like an unsustainable part of the scam that cyrpocurrencies use.
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Re: blockchain

Postby Admin1 on April 9th, 2018, 9:58 am 

zetreque » 09 Apr 2018 03:05 wrote:I really don't see how blockchain (for ANY cryotoconcurrency or application) is all that great.

1. Doesn't it consume massive amounts of energy?

2. If it stores all previous transactions, doesn't that become storage and transfer intensive?

3. If it stores everyone's every transaction across multiple servers, doesn't that do away with privacy? If people are already concerned about data mining, that opens the door even bigger to be manipulated by psychologists seeking out your money.

Is this one of those situations where people are like, "Hey we have this great technology, sure it has problems but we will find solutions in the future," then they never do? It just seems like an unsustainable part of the scam that cyrpocurrencies use.



I am not an expert and not an investor, but the reason Crypto makes some sense is that it is global and not controlled by any one government. It's value is not tied to any one currency, so it could make sense for destabilized countries to use as it's not connected to the ruling party. It is VERY database heavy, but archiving and better storage design will help in the future.

Most of whats going on now is just hype, but the blockchain as a tool is actually pretty interesting. I found this useful when discovering more about it, though this guy is a bit more enthusiastic than most. https://soundcloud.com/best-of-tech-sta ... tonopoulos
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Re: blockchain

Postby Forest_Dump on April 10th, 2018, 10:45 am 

Personally I seem to go against the stream because I use more cash than ever, in part because 1) I don't use credit cards anymore (actually for a very long time since I noticed the difference in interest rates) 2) I don't trust the technology and the issues of privacy and 3) things like bitcoin, etc., are very hard to hand out to homeless types. IMHO cash is cheaper and safer to use
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