I really want a digital currency where VISA or other third parties don't skim 3% off (which is outrageous in my opinion, but that's what everyone else settles, like PayPal, Stripe, Square, etc), and also privacy preserving. Putting everything out on a ledger for everyone to see is on one hand beneficial for verification, but also makes privacy protection hard. That's why the purse systems are so complex. Like you'd have to buy a new purse every single time you make a purchase... I don't see how Bitcoin can compete with wide spread payments systems as it is now. The "mining" infrastructure consume unreasonable amount of energy, the transactions take way too long, and as the demand spikes even the transaction fees can be high, especially if someone wants the transaction to execute in less than a few days (WTF!), or would like to buy a lollipop for $3 value. I know we can monkey patch it and there are multiple ways to make a Frankenstein which may work *somewhat* better (multiple directions are in the making), but at least it gave enough ammunition for the future currencies to correct pitfalls.
Anyway, here is reading from the skeptic side which worth the time: https://hackernoon.com/ten-years-in-nobody-has-come-up-with-a-use-case-for-blockchain-ee98c180100 Cheers! On Sat, Jan 27, 2018 at 7:10 PM, Jack Coats <[email protected]> wrote: > Outside of cryptocurrencies, what are the other uses of blockchain > technology? Is this an area folks like us should look into? > There is a lot of hype about it, but nothing more than folks > regurgitating the name bitcoin as a mantra that I can find. > > On Sat, Jan 27, 2018 at 8:50 PM, Howard White <[email protected]> wrote: > > Jack brings up and interesting point. Many countries with instability, > i.e. > > Venezuela, Zimbabwe and others, the risk of Bitcoin is less than the > risk of > > the local currencies. Something of a moral hazard in the bigger scheme > of > > things. > > > > Howard > > > > > > On 01/27/2018 06:43 PM, Jack Coats wrote: > >> > >> IMHO, if bitcoin is your base currency, it's value doesn't matter as > >> much as if it is a secondary currency (which it is). Most people > >> deal with $$, Euro, pounds sterling, or whatever as their base > >> currency, and 'trade' in other currencies (bitcoin, stocks, bonds, > >> foreign currency, etc) > >> > >> When dealing with secondary currencies (bitcoin, stocks, bonds, gold > >> bars, diamonds, foreign country currencies, or any other > >> 'investment'), never 'bet more than you can afford to loose'. > >> > >> Just my thoughts. > >> > > > > > > -- > ><> ... Jack > > The Four Boxes of Liberty - "There are four boxes to be used in the > defense of liberty: soap, ballot, jury and ammo. Please use in that > order." > "Whatever you do, work at it with all your heart"... Colossians 3:23 > "Anyone who has never made a mistake, has never tried anything new." - > Albert Einstein > "You don't manage people; you manage things. You lead people." - > Admiral Grace Hopper, USN > "The most dangerous phrase in the language is "We’ve always done it > this way"-- Admiral Grace Hopper, USN > "Tell me and I forget. Teach me and I remember. Involve me and I > learn." - Ben Franklin > > -- > -- > You received this message because you are subscribed to the Google Groups > "NLUG" group. > To post to this group, send email to [email protected] > To unsubscribe from this group, send email to nlug-talk+unsubscribe@ > googlegroups.com > For more options, visit this group at http://groups.google.com/ > group/nlug-talk?hl=en > > --- > You received this message because you are subscribed to the Google Groups > "NLUG" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to [email protected]. > For more options, visit https://groups.google.com/d/optout. > -- -- You received this message because you are subscribed to the Google Groups "NLUG" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/nlug-talk?hl=en --- You received this message because you are subscribed to the Google Groups "NLUG" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. For more options, visit https://groups.google.com/d/optout.
