Bitcoin is "outdated", the blockchain is the "new Bitcoin" - page 2.

dothebeats

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Yes I know that, but the ledger itself is made up of continuous transaction to be recorded in a single chain. Idk how the banks would actually do it with only bank tx. Altcoins on the other hand, are just variations of bitcoin's original code, so the idea of bitcoin and blockchain are still there but with just another 'flavor'.

Quote from: mexxer-2 on October 31, 2015, 07:04:04 AM

Quote from: dothebeats on October 31, 2015, 06:46:47 AM

I wonder how a block chain would be possible without bitcoin running/flowing in it? It's like saying a waterfall exists without water flowing in it. Roll Eyes

Actually its not, its something like waterfall of alcohol or petrol or any liquid, blockchain is just a record of transactions , Altcoins have blockchain too. In a way I'd consider bank's blockchain similar to an altcoin's .

mexxer-2

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4 Mana 7/7

Quote from: dothebeats on October 31, 2015, 06:46:47 AM

I wonder how a block chain would be possible without bitcoin running/flowing in it? It's like saying a waterfall exists without water flowing in it. Roll Eyes

Actually its not, its something like waterfall of alcohol or petrol or any liquid, blockchain is just a record of transactions , Altcoins have blockchain too. In a way I'd consider bank's blockchain similar to an altcoin's .

dothebeats

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I wonder how a block chain would be possible without bitcoin running/flowing in it? It's like saying a waterfall exists without water flowing in it. Roll Eyes

eyeknock

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Quote from: Amph on October 31, 2015, 05:52:03 AM

oh the good old, bitcoin is bad blockchain is good, yet they think about a centralized blockchain, which has nothing to do with the real blockchain

and...a road is useless without vehicles crossing it

haha i know how you feel, yes, the next step is to create a new coin based on the blockchain technology, yes? oh w8, we already have it and its called BITCOIN!!!

nah, like always, they will never win this game trying to distract people Wink

Q7

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No it's not. Although you are right to point out that the core to everything lies on the blockchain, more or less the technology and bitcoin itself is almost inseparable. I know attempts have been made by banks to utilize the blockchain technology but the idea behind its use still goes back to the decentralized function. That is something what bitcoin is about.

RustyNomad

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A centralised blockchain is nothing more than a database running on modified bitcoin technology.

There will be major benefits for the banks in terms of costs and time savings even when using a centralised blockchain and consumers might see some of this especially on the time savings side, doubt whether actual cost savings will filter all the way down to consumers.

The problem however is that essentially nothing has changed. The bank is still in charge of your money and can do with it what it wants to. You still need to trust the bank whereas with bitcoin you do not need to trust anyone and you remain in control of your own money, you are the bank.

the_poet

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Bitcoin accepted here

Quote from: Lauda on October 31, 2015, 05:59:47 AM

Quote from: the_poet on October 31, 2015, 05:54:43 AM

"Centralized blockchain" sounds like an oxymoron.

A centralized blockchain primarily helps the bank or other institutions that plan on using one. The benefit for the consumer is going to be minimum. Bitcoin is a revolution, and no wonder that they're trying to divert attention away from it. If Bitcoin does succeed, a lot of people have a lot to lose. Those are the ones that are fighting Bitcoin.

What I love about Bitcoin is that it's basically regular people working for regular people.

razen489

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it is the beginning of a new buzzword

bri912678

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There's also an article in the economist about the technology behind Bitcoin. It starts off about Bitcoin, then goes on to explain all about Ethereum and what you can do with it. To be fair there is another economist Bitcoin article on the front page, and the Ethereum one is less prominent, but I'm tired of author's attempting to separate blockchain technology from Bitcoin.

http://www.economist.com/news/briefing/21677228-technology-behind-bitcoin-lets-people-who-do-not-know-or-trust-each-other-build-dependable

Lauda

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Terminated.

Quote from: the_poet on October 31, 2015, 05:54:43 AM

"Centralized blockchain" sounds like an oxymoron.

A centralized blockchain primarily helps the bank or other institutions that plan on using one. The benefit for the consumer is going to be minimum. Bitcoin is a revolution, and no wonder that they're trying to divert attention away from it. If Bitcoin does succeed, a lot of people have a lot to lose. Those are the ones that are fighting Bitcoin.

the_poet

legendary

Activity: 1138

Merit: 1035

Bitcoin accepted here

Quote from: Amph on October 31, 2015, 05:52:03 AM

oh the good old, bitcoin is bad blockchain is good, yet they think about a centralized blockchain, which has nothing to do with the real blockchain

and...a road is useless without vehicles crossing it

"Centralized blockchain" sounds like an oxymoron.

Amph

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oh the good old, bitcoin is bad blockchain is good, yet they think about a centralized blockchain, which has nothing to do with the real blockchain

and...a road is useless without vehicles crossing it

the_poet

legendary

Activity: 1138

Merit: 1035

Bitcoin accepted here

"IT’S ALL ABOUT THE BLOCKCHAIN"

http://moneyandstate.com/its-all-about-the-blockchain/

Topic: Bitcoin is "outdated", the blockchain is the "new Bitcoin" - page 2. (Read 2223 times)