What happens when the blockchain has more uses than just bitcoin payment system?

byronbb

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HODL OR DIE

Quote from: bitcoinsrus on May 30, 2014, 07:01:18 PM

The blockchain runs the bitcoin payment system. Through color coins, side chains and various other uses the blockchain is capable of, what is the fate of bitcoin?

These new layers that will be added, would be a valuable asset to new types of legal contracts and other things. Will bitcoin be overshadowed by these new innovations?

Bitcoin is required for those side chains.....

bitcoinsrus

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Quote from: TERA on May 30, 2014, 07:59:16 PM

I was thinking of using the blockchain as a persistent storage and messaging medium for some decentralized web applications I was thinking of developing. Nothing is stopping us from just abusing the blockchain for own needs that have nothing to do with bitcoin by taking advantage of the message field while sending coins back and forth between our own 2 wallets.

I always wanted to do tech stuff (developing of apps) but it just seemed to costly so I just brushed it aside. You seem very knowledgeable of TA and other things (based upon your various posts) - so I think its possible you can accomplish this. I often read the project section on this forum and I feel its only a matter of time before a new app comes along.

TERA

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I was thinking of using the blockchain as a persistent storage and messaging medium for some decentralized web applications I was thinking of developing. Nothing is stopping us from just abusing the blockchain for own needs that have nothing to do with bitcoin by taking advantage of the message field while sending coins back and forth between our own 2 wallets.

zimmah

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I don't think they will have much effect on the value of bitcoin at all, and if they will, they'd more likely raise the price rather than endanger it.

Gingermod

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Quote from: bitcoinsrus on May 30, 2014, 07:01:18 PM

The blockchain runs the bitcoin payment system. Through color coins, side chains and various other uses the blockchain is capable of, what is the fate of bitcoin?

These new layers that will be added, would be a valuable asset to new types of legal contracts and other things. Will bitcoin be overshadowed by these new innovations?

No.

bitcoinsrus

hero member

Activity: 518

Merit: 500

The blockchain runs the bitcoin payment system. Through color coins, side chains and various other uses the blockchain is capable of, what is the fate of bitcoin?

These new layers that will be added, would be a valuable asset to new types of legal contracts and other things. Will bitcoin be overshadowed by these new innovations?

Topic: What happens when the blockchain has more uses than just bitcoin payment system? (Read 565 times)