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Kitno


Total Posts: 347
Joined: Mar 2005
 
Posted: 2015-10-09 11:55
The corporate/general fervor around blockchains reminds me of discussions around the internet in 1994. There's a lot of potential and usecases discussion but no clear paths yet.

The BitCoin implementation is impressively robust after 6 years. If regarded as a currency it suffers from confidence like our fiat currencies. The threat of 'material miners' owning >25% is less of a risk than government control of a currency through BitCoin's in-built game theory.

The thing is, the BitCoin implementation is a long way from what people are envisioning. There's not a single, stable smart contract (let alone platform for one).

BitCoin has done a lot with getting the world to accept the viability and safety of cryptocurrency and would be a good basis for a 'timestamp blockchain' for which other chains interact.

Salut toi, je vais au Social Club avec des amis ce soir, c'est au 142 rue Montmartre. J'ai mis ta robe préférée. Viens me trouver.

Hansi


Total Posts: 296
Joined: Mar 2010
 
Posted: 2015-10-09 12:49
So what do you believe is the missing component in the discussion?

The ledger discussions have been most prominent I guess: http://www.ft.com/cms/s/0/72ffd222-66be-11e5-97d0-1456a776a4f5.html?siteedition=uk

This was introduced recently but haven't checked on it in detail: http://interledger.org/

I know that some guys in a different team at my firm have been playing around with this for a few use cases: https://ethereum.org/

chiral3
Founding Member

Total Posts: 5022
Joined: Mar 2004
 
Posted: 2015-10-09 12:59
The missing component is who the fcuk is Satoshi Nakamoto. He/she/they are cooler than Bilderberg.

http://www.coindesk.com/information/who-is-satoshi-nakamoto/

Nonius is Satoshi Nakamoto. 物の哀れ

Kitno


Total Posts: 347
Joined: Mar 2005
 
Posted: 2015-10-09 16:17
Hansi, your choice of words is very apt. There are about 20 banks with labs - funding 5-20 usually internal technologists to play around with blockchain technologies. Sadly these banks' managements think they will be getting something concrete to improve settlements or trading in the next 12-18 months. Mention vol or counterparty in these labs and they think you mean volume and the Tea Party.
One of the most mature and flexible technologies is Ripple yet they closed their smart contract platform a couple of months ago. This whole new world, is in part, predicated on the use of smart contracts.

Circle, funded by GS and others is good consumer implementation of blockchain technology - free USD & BitCoin transfers. They've kept things vanilla and little more advanced than BitCoin.

Salut toi, je vais au Social Club avec des amis ce soir, c'est au 142 rue Montmartre. J'ai mis ta robe préférée. Viens me trouver.

DrGrumpy


Total Posts: 137
Joined: Nov 2008
 
Posted: 2015-10-20 12:28
If anyone is going to be in Sydney on the 30th of this month, there is a Blockchain event at Startup Week:
http://www.startupweeksydney.com.au/event/lets-talk-blockchain/

Dunno if it will be worth it, but I'm going... Might be free booze Beer

A girl goes into a bar and asks for an example of double entendre, so the barman gives her one.

Rashomon


Total Posts: 171
Joined: Mar 2011
 
Posted: 2015-10-21 08:57
Forget the cryptolibertarians. Remember baby-sitting the economy? There are certain things people prefer not to trade money for. Satoshi has built all of them an open-source ledger. I think ultimately its application will be a lot of microcurrencies.

One example could be apportioning the time of programmers in a large company.

Or not. People usually give flip answers to these questions, but they're worth considering more carefully now:
‒ when exactly does currency facilitate a transaction and why?
‒ which things do people feel more comfortable trading in-kind than in-dollar and why? (wealth differentials vs equal humanity are one obvious case, like with babysitting or organ donation)
‒ what kinds of things can be usefully split off and traded? (oil and metals are made equal enough at delivery that they can be traded, but maybe baby-sitters and programmers are not interchangeable)

In part 6 of his diatribe against James Weatherall, Aaron Brown claims that derivatives are so huge in notional volume because they replaced currency. (Borrow a calendar spread of electricity to run your plant rather than borrow in dollars to run your plant.) If he's right then we've already undergone one currency revolution in our lifetimes.

"My hands are small, I know, but they're not yours, they are my own. And they're, not yours, they are my own." ~ Jewel

Kitno


Total Posts: 347
Joined: Mar 2005
 
Posted: 2015-10-22 23:03
Well (crypto)currency is merely one implementation. The more interesting use cases will be in consumer rather than banking in the next couple of years.

Salut toi, je vais au Social Club avec des amis ce soir, c'est au 142 rue Montmartre. J'ai mis ta robe préférée. Viens me trouver.

Rashomon


Total Posts: 171
Joined: Mar 2011
 
Posted: 2015-10-25 07:17
Kitno: why consumer rather than B2B?

"My hands are small, I know, but they're not yours, they are my own. And they're, not yours, they are my own." ~ Jewel

Kitno


Total Posts: 347
Joined: Mar 2005
 
Posted: 2015-10-25 12:45
Rashomon, the barriers of entry and perceived risks are lower. A crude example WhatsApp versus Symphony. Despite the military origins of the internet in the mid and late 90s it was new consumer rather than new B2B that benefited the most.

Banks have grand ideas, and the smarter ones more finite expectations but they don't even know which platform they will use and are waiting for regulator sanction for many use cases.

Sadly consumers rarely care about the architecture of the app so long as it works and looks nice.

Salut toi, je vais au Social Club avec des amis ce soir, c'est au 142 rue Montmartre. J'ai mis ta robe préférée. Viens me trouver.

katastrofa


Total Posts: 369
Joined: Jul 2008
 
Posted: 2015-11-23 22:56
@Kitno

"The corporate/general fervor around blockchains reminds me of discussions around the internet in 1994. There's a lot of potential and usecases discussion but no clear paths yet.

The BitCoin implementation is impressively robust after 6 years. If regarded as a currency it suffers from confidence like our fiat currencies. The threat of 'material miners' owning >25% is less of a risk than government control of a currency through BitCoin's in-built game theory."

Yeah, another thing which reminds me is that in 1994 people still believed that Internet will set them free from government control (Neal Stephenson's "Cryptonomicon"), like today with BitCoin, and we all know how it worked out with the Internet.

svisstack


Total Posts: 303
Joined: Feb 2014
 
Posted: 2015-11-23 23:00
@katastrofa: where you have government control over internet bcs i dont understand what you implying.

Time well wasted.

katastrofa


Total Posts: 369
Joined: Jul 2008
 
Posted: 2015-11-23 23:01
@svisstack

Are you kidding me?

svisstack


Total Posts: 303
Joined: Feb 2014
 
Posted: 2015-11-23 23:06
@katastrofa: no, surveillance is not control.

Time well wasted.

katastrofa


Total Posts: 369
Joined: Jul 2008
 
Posted: 2015-11-23 23:09
It is, when people start to removing content out of fear of being selected for "closer inspection".

It is, when a country can deploy a worm to knock out other country's Internet system (Stuxnet).

And ultimately, the government controls the fat pipes.

svisstack


Total Posts: 303
Joined: Feb 2014
 
Posted: 2015-11-23 23:21
>> It is, when people start to removing content out of fear of being selected for "closer inspection".

is still not control.

>> It is, when a country can deploy a worm to knock out other country's Internet system (Stuxnet).

this imho proving lack of control, thats rules of the "game"

>> And ultimately, the government controls the fat pipes.

i see lack of knowledge about internet switching here, read about IX/IXP, its just peering between private entities

Time well wasted.

katastrofa


Total Posts: 369
Joined: Jul 2008
 
Posted: 2015-11-23 23:24
"i see lack of knowledge about internet switching here, read about IX/IXP, its just peering between private entities"

Private networks are not Internet.

svisstack


Total Posts: 303
Joined: Feb 2014
 
Posted: 2015-11-23 23:25
>> Private networks are not Internet.

HAHAHAHA.... no... connected private networks (peering) is how today internet look like, sorry but that how it works, when 2 private big players with private networks meet each other in IXP they creating BGP route between their AS and this is what you call "internet"

Time well wasted.

katastrofa


Total Posts: 369
Joined: Jul 2008
 
Posted: 2015-11-24 11:01
"when 2 private big players with private networks meet each other in IXP"

Exactly. The governments control the IXPs.

svisstack


Total Posts: 303
Joined: Feb 2014
 
Posted: 2015-11-24 11:32
>> Exactly. The governments control the IXPs.

no they not, dude you are on drugs or something? you dont bother even finding information's on the internet and posting there shit about things you dont know anything about from theoretical and practical standpoint.

Time well wasted.

katastrofa


Total Posts: 369
Joined: Jul 2008
 
Posted: 2015-11-24 18:45
Of course they do. Officially or unofficially, but they do.

svisstack


Total Posts: 303
Joined: Feb 2014
 
Posted: 2015-11-24 18:53
>> Of course they do. Officially or unofficially, but they do.

i mean from technical standpoint not legal or politics, but ok, i dont have time for this.

I think "they" also controlling active inflow on book when I'm inside, bcs fill rates could be higher. Of course they do. Officially or unofficially, but they do.

Time well wasted.

katastrofa


Total Posts: 369
Joined: Jul 2008
 
Posted: 2015-11-24 23:56
*shrug*

Nonius
Founding Member
Nonius Unbound
Total Posts: 12705
Joined: Mar 2004
 
Posted: 2015-11-26 08:42
In the words of Jack Nicholson, why can't we all just....get along.

Chiral is Tyler Durden

Polter


Total Posts: 130
Joined: Jun 2008
 
Posted: 2015-12-09 01:38
Interesting, http://www.finextra.com/news/fullstory.aspx?newsitemid=28225

chiral3
Founding Member

Total Posts: 5022
Joined: Mar 2004
 
Posted: 2015-12-09 23:57
satoshi

Nonius is Satoshi Nakamoto. 物の哀れ
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