Do we need blockchain technology? - page 21.

gribble

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Quote from: stunvn on August 24, 2017, 06:38:16 AM

Hello everyone.

When I see there are too many ICO and shitcoins on novaexchange. I keep asking myself: do we really need blockchain technology?

In case of Bitcoin. Of course, I agree.
What about ETH? I agree too.

But, have a look at the others on the market. I don't even know why should people use their service. There is no real use in real life.

An ad management system on blockchain? - We already had Google Ads & Facebook Ads.
A social network on blockchain? (steem) - Do we? I don't see anything but a centralized forum hosted on a random hosting using its currency to pay for the writers.

There are too many projects that we don't really need it on blockchain.

Sometimes, I think there is a black swan (Blockchain is useless in real life) lurking around.

Please enlighten me.

Well actually the ICOs projects depend on the purpose of all the users and not all of ICOs are shitcoins, if we want makes smart contract ethereum can be choosen and other altcoins that can gives smart contract service, maybe we still don't need technology of blockchain but the world change too fast, the blockchain will be needed on the future and steemit, ethereum even bitcoins are still beta. They need more fixing on the future.

pinkflower

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Quote from: stunvn on August 24, 2017, 06:38:16 AM

Hello everyone.

When I see there are too many ICO and shitcoins on novaexchange. I keep asking myself: do we really need blockchain technology?

In case of Bitcoin. Of course, I agree.
What about ETH? I agree too.

But, have a look at the others on the market. I don't even know why should people use their service. There is no real use in real life.

An ad management system on blockchain? - We already had Google Ads & Facebook Ads.
A social network on blockchain? (steem) - Do we? I don't see anything but a centralized forum hosted on a random hosting using its currency to pay for the writers.

There are too many projects that we don't really need it on blockchain.

Sometimes, I think there is a black swan (Blockchain is useless in real life) lurking around.

Please enlighten me.

Lets be honest with ourselves. The big reason why we are interested in blockchains and cryptocurrencies is because we could sometimes make easy money with it. These markets are very volatile and the volatility makes them profitable to trade if you know what youre doing.

As far as needing blockchain technology? No, we dont really need it yet.

QueenOf

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Quote from: sindikat on August 24, 2017, 06:45:11 AM

This is not so. Blockchain technology is an essential step to real democracy. Of course the government would be against it, but it all depends on people. For example, based on the blockchain, you can build a system of elections and recall of politicians. And much more.

yeah Blockchain is a foundational technology: It has the potential to create new foundations for our economic and social systems. But while the impact will be enormous, it will take decades for blockchain to seep into our economic and social infrastructure. it just i think.

Tyrantt

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Need some spare btc for a new PC

Quote from: stunvn on August 24, 2017, 06:38:16 AM

But, have a look at the others on the market. I don't even know why should people use their service. There is no real use in real life.

https://cointelegraph.com/news/blockchain-tech-used-for-nanosecond-timestamp-stock-trades

https://cointelegraph.com/news/online-how-to-platform-partners-with-blockchain-startup-to-boost-user-security

https://cointelegraph.com/news/central-bank-of-papua-new-guinea-embraces-blockchain-in-effort-to-help-unbanked

https://cointelegraph.com/news/how-blockchain-helps-content-creators-build-ecosystems-and-generate-profits

What do you mean it has no use in real life? These are just some of the links I've pulled in just a few seconds of scrolling on the cointelegraph website and as you can see, the blockchain usage is spreading outside bitcoin quite quickly.

Chyton

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I think we do need blockchain technology. The perfect scenario for this use is a coin that specialize in hosting (so we can have decentralized hosting), a coin to pay the writer (we have a lot of it) and a coin that specialize in advertisement.

bangjoe

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Quote from: ?? on ??

Blockchain can be used in a lot of things, you fail to see how it can be so powerfull to use this technology

Many people who can not see it because the level of its use is still limited potential and cannot be applied to real business, this makes sense because the virtual mode is still included in the era of development, I think blockchain technology can help the world economy, peer-to-peer system is still illegal in various businesses but this can change the economic pattern verbally.

kryptqnick

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Quote from: Janation on August 24, 2017, 10:51:31 AM

Quote from: Carlsen on August 24, 2017, 08:28:22 AM

Of course we need blockchain technology.
I really do not know much about coding, but the blockchain technology is something that makes storing information safer and protects it from being altered.
That is something very important in the IT business.
Many businesses try options to use this technology for their purposes, sooner or later we will see it in many forms in our every day life.

For me, without the Blockchain, there will be no digital currency. Blockchain prevents the double spending. If we will be putting bitcoin without the BLock chain, there will be a lot of people not using bitcoin maybe no one because it will be just double spent. Also, there are a lot of new technologies that making use of this Block chain, I think it will be really cool.

Everyone keeps writing about blockchain and how important it is. I agree that without blockchain our world of cryptos would have probably never appeared. And yet is this technology really essential for any kind of cryptocurrency? I don't think so. I mean, just take a look at IOTA project. I don't know whether it is awesome but we can say for sure that it is an attempt to make something absolutely different. It is built on graphs, not chains of blocks. Graphs aren't really new to the world, they are used in logistics, for example. I believe iota is or soon will be able to show that cryptocurrencies can really be made in different ways.

drachman

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Quote from: stunvn on August 24, 2017, 06:38:16 AM

Hello everyone.

When I see there are too many ICO and shitcoins on novaexchange. I keep asking myself: do we really need blockchain technology?

In case of Bitcoin. Of course, I agree.
What about ETH? I agree too.

But, have a look at the others on the market. I don't even know why should people use their service. There is no real use in real life.

An ad management system on blockchain? - We already had Google Ads & Facebook Ads.
A social network on blockchain? (steem) - Do we? I don't see anything but a centralized forum hosted on a random hosting using its currency to pay for the writers.

There are too many projects that we don't really need it on blockchain.

Sometimes, I think there is a black swan (Blockchain is useless in real life) lurking around.

Please enlighten me.

There are some other projects that are necessary, we need decentralized exchanges and so some have appeared, there is also a project about a decentralized internet and if successful that is a game changer.

viewly

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Many people call it "shitcoins" but even in the stock market there are "penny stocks" which are the same garbage.

There are many things that don't need to be decentralised, but that doesn't mean that these things shouldn't. Also as long as there is liquidity in the market for these coins, they will never die making them useful to traders.

seraph_the_wise

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I believe that indeed we need blockchain tech as a whole (the network or protocol), which has many uses (financial and non financial) with many companies and groups of talented individuals already amazing building products on it.

On the financial side, and on top of whatever implementation of blockchain one fancies, we have the "tokens/coins". Those "currencies" actually represent different financial instruments, traded at exchanges, with different liquidities, valuation swings, some going bust other surviving (like the counterparts in the "real world").

When it gets really interesting (and tricky) is on the venture investment side of things (on top of tokens), with ICOs. Those are actually unregulated venture capital on steroids, with insane risk and insane payoffs. Here, like the real world of ventures we have everything...scams, shitcoins, good ideas and interesting projects to invest (yep, there are some Tongue

). Unlike the real world counterparts however, there is a very low barrier of entry (aka: everyone and their dog can ICO) and sketchy due diligence, with few trusted information brokers.

iram1011

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Instead of calling them shit projects, we should call it experimentation. Forget about blockchain. Everyday tons of startups come. Not everyone is successful. Same is the case with ICOs. People experiment with blockchain technology in many ways that might sound BS to you. But there might be customers for that. In starting, many projects sound shit but many have been successful later. You never know. There is no harm in trying though.

Bianxee

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Quote from: coolcoinz on August 25, 2017, 10:38:24 AM

Yes we do. Why would you think that we don't? Because there are many things being developed in connection with BC and some of them end up being failures? What about all those that end up being gamechangers? I think we do need every technology, because it can always be used as a base for future development.

In these days blockchain technology is needed not only for bitcoins and alt ,many companies are now using blockchain in using for their companies faster transactions.

CryptoBry

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Quote from: sindikat on August 24, 2017, 06:45:11 AM

This is not so. Blockchain technology is an essential step to real democracy. Of course the government would be against it, but it all depends on people. For example, based on the blockchain, you can build a system of elections and recall of politicians. And much more.

The blockchain technology is a very innovative one and can have many applications. In fact, there are now many governments or regimes that are looking at blockchain to improve their services to the people and yes one day they can be adopting blockchain to improve transparency with elections.

For all we know, one day it would actually be the government which will lead in the application of the blockchain technology especially if the people would be demanding more accountability and transparency. Blockchain is available to all government or not government.

Hydrogen

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For big businesses with an internet presence, one of their biggest concerns may be downtime. Amazon.com being down for a few hours can represent millions in lost revenue. This raises an interesting question: how often is bitcoin down? How much downtime can be expected from data systems built utilizing blockchain technology? Blockchain's reliability is one area where it has the potential to outshine standard backend databases. Not to say that this advantage doesn't come with disadvantages to offset it.

Blockchain technology is already being used by maersk, IBM, walmart & other retailers as a inventory tool. There may definitely be many applications for it that will take time to catch on and be proven effective in their respective roles.

futuret

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Quote from: coolcoinz on August 25, 2017, 10:38:24 AM

Yes we do. Why would you think that we don't? Because there are many things being developed in connection with BC and some of them end up being failures? What about all those that end up being gamechangers? I think we do need every technology, because it can always be used as a base for future development.

no doubt a lot of new things are being introduce in bitcoin and it is making bitcoin more popular and the investors of the bitcoin are trusting on these technologies and for them blockchain is the place where they can keep their bitcoin save so for sure bitcoin has unelectable value and it is increasing the importance of the bitcoin in the term of the security so for me blockchain is very important because I am a bitcoiner.

coolcoinz

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Yes we do. Why would you think that we don't? Because there are many things being developed in connection with BC and some of them end up being failures? What about all those that end up being gamechangers? I think we do need every technology, because it can always be used as a base for future development.

talkbitcoin

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All I know is that I know nothing.

you are confusing two different things here:
- the technology
- shit pretending to be technology Wink

the blockchain technology is actually something that many are interested in. many big corporations are currently working on it. many good coins like bitcoin are using it. and it is pretty useful.

but what you have been seeing as ICOs are that shit that is pretending to be "technology" but it is a cheap rip off, created for a quick profit making and nothing more. they don't care about anything, it is the simple copy paste of code around an abstract idea with no real usage.

stunvn

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Quote from: Seansky on August 24, 2017, 08:10:28 AM

Even if a project is similar to something that really exist in real life that doesnt use blockchain tech, it would be easier for crypto users to use the one with blockchain system on it. An ad management system on blockchain would put ease to those who would like to advertise on faucets or crypto related blogs. It also applies for others although you are right that many shitcoins are just shit projects not ever worth using and has no use in real life and one great example is your example on social networking on blockchain because like you I think cryptoworld does not really need it.

Thank you, now I understand more about that ad management system.

Quote from: iluvpie60 on August 24, 2017, 10:27:05 AM

We need blockchain to keep governments honest. A lot of the time we CANNOT see where the money is going, if it was spent, how much left there, how much we need, shady deals given to contractors who get paid wayyyyy to much.

IFbtc was involved in this we could easily know and see government corruptin, publically and in real time.

This especially needs to happen in the USA where lobbyists and crony capitalism happens every day

Like an election that will accepts bitcoin?

darthmaul

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Blockchain is not just limited to running the ICO projects but it is more than that. It has evolved recently during the repeat active developments. The crypto credit cards, debit cards, instant payment system are the new development going which will help us use the crypto currencies directly from the blockchain to our real world. Then you will see how important it is. If blockchain is not there then there it's like "having universe with no stars, galaxies and life in it", the empty darkness and nothing else. Just imagine blockchain the same way, it has many usage but the fact is it's not evolved to your and mine expectations yet. Just hold tight until we discover this universe for something more intelligent.

adam1230

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Everything is changing with blockchain technology. So yes we need blockchain.
Today we are using for economic purposes but later we will see blockchain on every stage of our lifes.

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