I am finally getting educated about block chain technology and WOW! My mind is blown.
I had no idea just how impressive and important the block chain and cryptocurrecies are going to be.
Since joining steemit it’s really been my first introduction to this world, so I was totally naive to the whole thing. All I understood was that people talked about how permanent the block chain was.
I listened to this podcast the other day, as I’m a huge Tim Ferriss fan and follow most of this stuff. It has totally opened my understanding of all this and I often got overwhelmed just trying to wrap my head around things. I totally suggest it for anyone else who wants to better understand all this and needs a gentle introduction.
They used analogies and exampled to really put some things into perspective for me.
They often used the analogy that the information stored on the block chain was like a fly trapped in amber and as time goes on the layer would get thicker and thicker thus making it must harder to change it.
They discussed the unused computing power and just how much computer effort goes into tracking block chain transactions. I had no idea every computer processing the transactions has a full history of all the other transactions on the block.
They discussed hash size and why some currency is better for smaller and faster transactions.
The one big thing that really blew my mind was when they suggested that block chains and cryptocurrency technology will really force the entire banking industry to change. They compared it how the internet has changed the newspaper, media, television, movie, music and entire entertainment industry. This was a comparison that really put things into perspective for me and opened my eyes!
This stuff is really huge!
It made me think of Kodak and my recent trip to Rochester. How Kodak had a gigantic complex there and supported so many other industries and much of the town, but when the technology changed and they couldn’t keep up they just got swept away.
It makes me wonder if this could actually happen to the tradition bank industry.
The other thing that was totally mind blowing to me was the story of Satoshi Nakamoto and how no one knows who this is or if it’s a group of people. It’s just wild to think that someone would invent such a huge thing and disappear into “Galt’s Gulch” Even this reference appealed to me being a huge Atlas Shrugged fan!
I am really pretty excited and intrigued by all this stuff now and really want to delve deeper and I was hoping for some advice on what to explore next. I’m really curious about more of the history and politics into all this. I’m hoping for something that continues to use metaphors and examples someone without a huge technology background can follow and understand.
Stops ya dead in your tracks sometimes, as you pick up the bits of your mind that were blown out!
Yeah it's really heading that way now that I'm learning more man.
Hey man, not to mix biz and fun, but i sent an email to phelimint asking for a favour -- can you have a look?
I want it bad!
Of course man, I got the pop up, your locked in!
Okay great! Thanks bro -- talk about Putin on the Ritz!!!
Checkout "Coindesk," it's a pretty good site to get some currated info re: crypto space ;)
Great information on your post really informative
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I remember when I first realized the power of blockchain technology... I can only describe it in terms of another saying - a "Come To Jesus Moment" which altered my perception of many things in life. It made me feel some sense of hope again, that at least some of the corruption of big banks and governments might be placed in check by this kind of a new technology. I also think it's kind-of funny that the very things which globalists were hoping would provide them with more control over people (money & the internet & big government) may acccidentally have spawned a monster which they have a limited ability to be able to keep control over.
Totally, I'm starting to feel that way as well man.
Very detailed, thank you.
I believe that this technology in combination with methods from the field of artificial intelligence (AI) are a decisive game changer in the future.
I wrote a blog post on AI. It is high quality and if you like it I would appreciate an upvote.
--> https://steemit.com/technology/@martinmusiol/understanding-artificial-intelligence-blog-post-2-how-does-ai-identify-objects-in-images
Kind regards,
@martinmusiol
P.S. I follow you now and, of course, upvoted this good article.
welcome to the future of tech, block chain will revolutionize everything and its gonna be awesome, it has started to go main stream and in a few years it will be mainstream in all aspect of our lives
It really doesn't have potential to chance so many things.
This change is really big, but unless the internet, when the newspapers did not knew what's going to happen, in the case of blockchain and cryptocurrencies, the banks and the governments are able to see the change coming, and they are trying to resist to it. You can see this in the declarations of James Dimon, and in the China's ban of bitcoin, an now not only China. Considering this, these guys may be even able to prevent such a hudge change as internet once was, just to keep their money from the newspaper, and this will be a step back from the ecolution. I hope this won't happen, but I guess we will see.
I think it's going to be hard to totally block this huge movement, but I guess you can't underestimate governments.
Well, that's the problem, there is not one government, they are plenty, and most of them will be trying to stop Bitcoin and crypto
Welcome to cryptoland my friend
Glad you could join us!
Its about to get much bigger and will take over the world like the internet did in the 90s.
Picture crypto like computers in the 80s... few more years and crypto will be in everything.
Its crazy the new blockchain projects entering the scene, its not just currencies anymore
cheers
It's great to be here, I wish some one would have woke me up a few years ago.
This post has received a 75.00 % upvote from @lovejuice thanks to: @phelimint. They love you, so does Aggroed. Please be sure to vote for Witnesses at https://steemit.com/~witnesses.
Wow!! Great post!! Keep posting such posts good luck!
Change is here and it feels good to be part of something as huge. Appreciate the link to the podcast!