Topic: Bitcoin has no role in real world - page 7. (Read 6051 times)

Bitcoin has no role in real life because the bitcoin form itself is intangible. But there is plenty of evidence that people can benefit from bitcoin. 

BTC has no role to play in the real world affairs. People who try to create such a role are confused between asset and currency. The design itself only considers pure virtual activity with no touch with real world. People also mistake the buzz words such as "peer-to-peer", "border-less", "decentralised" etc as the problems to be solved. But sadly these are not real problems. The insignificant problems (speed and fees) are hardly enough to sell and these problems are going away anyway. I have no respect to Nakamoto because he ignored the most important element (govt and authorities) in social situation and still want to sell it as some solution to social situations. Hardly any country has regulatory framework that deals with btc.

The problems are rooted in the philosophy of crypto, not in the code. So, the beauty of blockchain tech is irrelevant for btc. It is like selling a bad app by showing how great Android is.

1) Bitcoin does not provide controlled visibility, because it doesn't recognise the existence of governments. Now if you make changes to provide visibility to authorities, ALL privacy is gone. If you don't, then ALL visibility is gone.

2) Fees are rooted in the design. Whatever consensus you invent for a public blockchain, you can't escape rewarding the work of validating transactions. So zero fees are not possible.

Public blockchains sacrifice all good qualities of a business application for the sake of trust-less environment which is not even actually a problem to solve in many contexts. Also they make it extremely costly to run small amount of code or small storage. Who wants their business code to be validated by all arbitrary people in the world?

Most ICOs are sharing economy concepts similar to uber model. Lack of a responsible intermediary and costs will make these "innovations" to fail, if they ever have to touch real-world activities.

Bulk of the blockchain activity will move to business collaborations which might not even look like a blockchain. Crypto coins will be used in most business blockchains, but these coins will be value-less tokens and very specific to the business or institutional activity.

Marinecoin. A technical currency with extremely fast transaction speed. Also a place that allows you to dig MTC with CPU easily.
Marinecoin will reward you for participating in the community with an expected 20000 members will be limited to this award.
You just join the community and complete the form inside the forum and receive a reward of 450000 MTC.
https://marineco.in/

BTC has no role to play in the real world affairs. People who try to create such a role are confused between asset and currency. The design itself only considers pure virtual activity with no touch with real world. People also mistake the buzz words such as "peer-to-peer", "border-less", "decentralised" etc as the problems to be solved. But sadly these are not real problems. The insignificant problems (speed and fees) are hardly enough to sell and these problems are going away anyway. I have no respect to Nakamoto because he ignored the most important element (govt and authorities) in social situation and still want to sell it as some solution to social situations. Hardly any country has regulatory framework that deals with btc.

The problems are rooted in the philosophy of crypto, not in the code. So, the beauty of blockchain tech is irrelevant for btc. It is like selling a bad app by showing how great Android is.

1) Bitcoin does not provide controlled visibility, because it doesn't recognise the existence of governments. Now if you make changes to provide visibility to authorities, ALL privacy is gone. If you don't, then ALL visibility is gone.

2) Fees are rooted in the design. Whatever consensus you invent for a public blockchain, you can't escape rewarding the work of validating transactions. So zero fees are not possible.

Public blockchains sacrifice all good qualities of a business application for the sake of trust-less environment which is not even actually a problem to solve in many contexts. Also they make it extremely costly to run small amount of code or small storage. Who wants their business code to be validated by all arbitrary people in the world?

Most ICOs are sharing economy concepts similar to uber model. Lack of a responsible intermediary and costs will make these "innovations" to fail, if they ever have to touch real-world activities.

Bulk of the blockchain activity will move to business collaborations which might not even look like a blockchain. Crypto coins will be used in most business blockchains, but these coins will be value-less tokens and very specific to the business or institutional activity.

BTC has no role to play in the real world affairs. People who try to create such a role are confused between asset and currency. The design itself only considers pure virtual activity with no touch with real world. People also mistake the buzz words such as "peer-to-peer", "border-less", "decentralised" etc as the problems to be solved. But sadly these are not real problems. The insignificant problems (speed and fees) are hardly enough to sell and these problems are going away anyway. I have no respect to Nakamoto because he ignored the most important element (govt and authorities) in social situation and still want to sell it as some solution to social situations. Hardly any country has regulatory framework that deals with btc.

The problems are rooted in the philosophy of crypto, not in the code. So, the beauty of blockchain tech is irrelevant for btc. It is like selling a bad app by showing how great Android is.

1) Bitcoin does not provide controlled visibility, because it doesn't recognise the existence of governments. Now if you make changes to provide visibility to authorities, ALL privacy is gone. If you don't, then ALL visibility is gone.

2) Fees are rooted in the design. Whatever consensus you invent for a public blockchain, you can't escape rewarding the work of validating transactions. So zero fees are not possible.

Public blockchains sacrifice all good qualities of a business application for the sake of trust-less environment which is not even actually a problem to solve in many contexts. Also they make it extremely costly to run small amount of code or small storage. Who wants their business code to be validated by all arbitrary people in the world?

Most ICOs are sharing economy concepts similar to uber model. Lack of a responsible intermediary and costs will make these "innovations" to fail, if they ever have to touch real-world activities.

Bulk of the blockchain activity will move to business collaborations which might not even look like a blockchain. Crypto coins will be used in most business blockchains, but these coins will be value-less tokens and very specific to the business or institutional activity.

I think bitcoin plays an important role in the real world, helping to improve the financial situation of many people and can change one's lifestyle. Bitcoin is still a stage of development takes a lot of time so everyone can taste bitcoin. 

Yes im agree with you man. If you are going to discover the true essence of bitcoin you must realize that bitcoin has a great impact to human life. Bitcoin is not just for a fast transaction online such as buying things in the virtual world and even investing but this is not the only benefit that we must enjoy with bitcoin but rather it can give us a job to support our daily needs. Indeed that bitcoin will give you financial freedom.