My Response to "Bitcoin is Bad, Blockchain is Good"
Doge In My Pockets says "The rising argument against cryptos goes something like "cryptocurrencies are worthless but the blockchain is good. How would you respond to this?"
Doge In My Pockets says "The rising argument against cryptos goes something like "cryptocurrencies are worthless but the blockchain is good. How would you respond to this?"
haha, ya.. it's like "blockchain is good tho" is the politically correct thing people say. I'm pretty sure most people who say it don't actually even know what a blockchain is or why they think it's good. They just have heard other people say it and recognize that there's probably a real something going on here, and "cryptos bad // blockchain good tho" is like a safe way to cover all bases in their mind.
But of course it actually makes no sense to try to separate the two :)
Sure you can have a blockchain without a concensus proof of work algorithm supported by a crypto currency, as Andreas Antonopoulos put it, that is called a database. The Bitcoin blockchain only obtains its value because of the tremendous amount of computing power that secures it, without this it is nothing special at all. And the reward for continuing to secure this network is Bitcoin the currency, which without it would give no incentive for miners to do their thing.
There's the upper class that does no work and collects all the taxes.
There's the middle class that does all the work and pays all the taxes.
And there's the lower class, that's just there to scare the crap out of the middle class.
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i hate when i hear that
Bitshares decentralized exchange is the future!
https://bitshares.org/
cryptocurrencies are worthless but the blockchain is good not bad coinbage
Even a doggo knows Bcash is not as good as Monero :D
I used to admire Monero, until I found out this is far superior than Monero.
yet I never heard of it, or saw it in top 10....
Because it is still in the early phase of the coin distribution.
Cool. Thats against my checklist :D
I only consider some new project to be suporior to an old one, once it get few years of unhacked, stable, buggless price increases.
Mahatma Gandhi
Yea. Hope it gets to the "fight" point.
I believe so. I mean, they are doing something which no one else is doing in the crypto space--the creation and/or partnership of a physical fiat denominated bank.
This "blockchain is good, bitcoin is bad" argument, is so pervassive. I see it daily on all my reviews of mainstream media says about crypto.
This suggestions is proliferated, as I see it, through the mainstream media by "expert" economists who value traditional economic systems and have a stake in seeing that those existing systems continue their dominance. It is easy to see how an experienced hedge fund manager who is making his clients 8% annually would feel defensive about Bitcoin's performance. Add to that the difficulty in comprehending a new technology, so I understand why some of these guys/girls just never try to understand Bitcoin or blockchain.
Instead they simply dismiss it, and allege Bitcoin is a bubble, it is a ponzi, it has no use or value. Without ever reviewing, using, or taking the time to understand how it works and what value and function it serves now, and how that might expand in the future.
In 2018 people are going to start getting it. It's not going to end right away, but in 2018 people's lives will start changing from the wide spread adoption of crypto, including Bitcoin, but certainly others.
The problems starts when the fat lady sings. Then you'll want to watch she doesn't fall on you.
Great explanation! Crypto AND blockchain are the future.
What is a blockchain?
People at my work never even heard of bitcoin. Crazy they don't know its going to take over the world with the rest of the cryptocurrency.