Growth in Bitcoin and other cryptocurrencies in the blockchain community through its first six or seven years was dependent on marketing and trying to get wider adoption.
To be clear, I never said that there is "no room for growth" in the crypto ecosystem. I said there is no room for *1000x price increases*. A 1000x price increase from today means $200T in crypto, or ~an entire 70% of today's global wealth being in crypto.
— Vitalik Non-giver of Ether (@VitalikButerin) September 12, 2018
Vitalik said there is no room for *1000x price increases*. A 1000x price increase from today means $200 trillion in crypto, or ~an entire 70% of today's global wealth being in crypto.
What I *actually* said is that, because large portions of the population have already heard of crypto, further growth of crypto in any sense must come from *depth* (ie. actual usage), and not bringing in more attention
— Vitalik Non-giver of Ether (@VitalikButerin) September 12, 2018
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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Does anyone knows of any blockchain or similar technologies that are generating real operational value outside of speculation? I spent some time digging into Ethereum and InterPlanetary File System but the costs imposed in supporting an ecosystem and and limited efficiency seem to far eclipse the real value delivered. The vast majority of the crypto implementations seem at best to be solutions for non-existent problems or more commonly investment schemes. (Full disclaimer – I did speculate on crypto during the Nov-Jan boom, and managed to escape with some of my gains, but it is the utility side I’ve been puzzled by.) This is meant as an honest question, because I feel like one of the crusty old farts who just doesn’t get what the kids see in it.
Does anyone knows of any blockchain or similar technologies that are generating real operational value outside of speculation? I spent some time digging into Ethereum and InterPlanetary File System but the costs imposed in supporting an ecosystem and and limited efficiency seem to far eclipse the real value delivered. The vast majority of the crypto implementations seem at best to be solutions for non-existent problems or more commonly investment schemes. (Full disclaimer – I did speculate on crypto during the Nov-Jan boom and managed to escape with some of my gains but it is the utility side I’ve been puzzled by.)This is meant as an honest question because I feel like one of the crusty old farts who just doesn’t get what the kids see in it.
Short answer: try IOTA. Long answer: I see fiat currencies like dinosaurs, and cryptos as mammals/insects. They also didn’t looks like much at the beginning, uh? But they have a built-in resilience and evolution speed that’s unmatchable. They are of limited utility, right now. Extremely energy inefficient. Slow and unscalable. Buggy. Unacceptably high transaction costs. First generations criptos have horrible, gigantic blockchains that are not programmable, and their ledger are slow and dumb: think of hundreds of GB of a list of SMS, that you MUST download in you want to make a transaction! A good part of them has been abandoned and they are no longer developed, if not a total scam. But they evolve: they can adapt to economic niches and create value by providing solutions, instead of forcing business to find workaround from fiat currency rigidities, limitations and regulations. New generation cryptos are increasingly more stable, offer instant transaction time, can scalate to thousand/millions transactions per second and very safe. Energy efficient (no mining): and transactions are, by consequence, free. On top of this, they are built on increasingly sophisticated, programmable and interoperable databases (= new generations blockchains), that you DON’T need to download anymore. They are here to stay: they are here to rock. And I think Buterik is WRONG: they still can grow by a factor of 1000: it will take, I think somewhere between 10 to 15 years. By that time the world wealth will be at least double than what is today (probably even more, given the boost in economic growth that cryptos will allow): a 1000 fold growth from today’s cryptos capitalization will means that no more than a reasonable ~35% of global wealth will be stored in cryptos.
Short answer: try IOTA.Long answer: I see fiat currencies like dinosaurs and cryptos as mammals/insects.They also didn’t looks like much at the beginning uh? But they have a built-in resilience and evolution speed that’s unmatchable. They are of limited utility right now. Extremely energy inefficient. Slow and unscalable. Buggy. Unacceptably high transaction costs. First generations criptos have horrible gigantic blockchains that are not programmable and their ledger are slow and dumb: think of hundreds of GB of a list of SMS that you MUST download in you want to make a transaction! A good part of them has been abandoned and they are no longer developed if not a total scam.But they evolve: they can adapt to economic niches and create value by providing solutions instead of forcing business to find workaround from fiat currency rigidities limitations and regulations.New generation cryptos are increasingly more stable offer instant transaction time can scalate to thousand/millions transactions per second and very safe. Energy efficient (no mining): and transactions are by consequence free. On top of this they are built on increasingly sophisticated programmable and interoperable databases (= new generations blockchains) that you DON’T need to download anymore. They are here to stay: they are here to rock. And I think Buterik is WRONG: they still can grow by a factor of 1000: it will take I think somewhere between 10 to 15 years. By that time the world wealth will be at least double than what is today (probably even more given the boost in economic growth that cryptos will allow): a 1000 fold growth from today’s cryptos capitalization will means that no more than a reasonable ~35{22800fc54956079738b58e74e4dcd846757aa319aad70fcf90c97a58f3119a12} of global wealth will be stored in cryptos.
Thanks. I’ll check it out.
Thanks. I’ll check it out.
Severely feature-limited Vuukle, I can’t edit my posts. I meant to say “seeing a 1000x gain IN a couple years”.
scalate? Traditional cryptos were essentially safe because it required expensive amounts of computation to mine and trade them. You could cheat the system, but it was very expensive to do so. That was built into their whole being. Are you saying new cryptos are as safe or safer but not as computationally expensive? How does that work? The point he was making is that the days of seeing a 1000x gain a couple years is over. There will be a lot of resistance to short-term replacement of our wealth system, so unless you have a guaranteed exchange between cryptos and “fiat” currencies, and work out how to do that without disrupting stock exchanges and the like, I’d say it’s going to take a lot longer than 10-15 years. We still haven’t gotten rid of our penny, for crying out loud, even though it’s essentially meaningless and costs more to make than it is worth. The empirical units, daylight savings, QWERTY keyboards – humans have a habit of keeping bad habits.
Severely feature-limited Vuukle I can’t edit my posts. I meant to say seeing a 1000x gain IN a couple years””.”””
scalate?Traditional cryptos were essentially safe because it required expensive amounts of computation to mine and trade them. You could cheat the system but it was very expensive to do so. That was built into their whole being. Are you saying new cryptos are as safe or safer but not as computationally expensive? How does that work?The point he was making is that the days of seeing a 1000x gain a couple years is over. There will be a lot of resistance to short-term replacement of our wealth system so unless you have a guaranteed exchange between cryptos and fiat”” currencies”” and work out how to do that without disrupting stock exchanges and the like I’d say it’s going to take a lot longer than 10-15 years. We still haven’t gotten rid of our penny for crying out loud even though it’s essentially meaningless and costs more to make than it is worth. The empirical units daylight savings”” QWERTY keyboards – humans have a habit of keeping bad habits.”””
imperial units
imperial units
imperial units
imperial units
imperial units
Severely feature-limited Vuukle, I can’t edit my posts. I meant to say “seeing a 1000x gain IN a couple years”.
Severely feature-limited Vuukle I can’t edit my posts. I meant to say seeing a 1000x gain IN a couple years””.”””
scalate? Traditional cryptos were essentially safe because it required expensive amounts of computation to mine and trade them. You could cheat the system, but it was very expensive to do so. That was built into their whole being. Are you saying new cryptos are as safe or safer but not as computationally expensive? How does that work? The point he was making is that the days of seeing a 1000x gain a couple years is over. There will be a lot of resistance to short-term replacement of our wealth system, so unless you have a guaranteed exchange between cryptos and “fiat” currencies, and work out how to do that without disrupting stock exchanges and the like, I’d say it’s going to take a lot longer than 10-15 years. We still haven’t gotten rid of our penny, for crying out loud, even though it’s essentially meaningless and costs more to make than it is worth. The empirical units, daylight savings, QWERTY keyboards – humans have a habit of keeping bad habits.
scalate?Traditional cryptos were essentially safe because it required expensive amounts of computation to mine and trade them. You could cheat the system but it was very expensive to do so. That was built into their whole being. Are you saying new cryptos are as safe or safer but not as computationally expensive? How does that work?The point he was making is that the days of seeing a 1000x gain a couple years is over. There will be a lot of resistance to short-term replacement of our wealth system so unless you have a guaranteed exchange between cryptos and fiat”” currencies”” and work out how to do that without disrupting stock exchanges and the like I’d say it’s going to take a lot longer than 10-15 years. We still haven’t gotten rid of our penny for crying out loud even though it’s essentially meaningless and costs more to make than it is worth. The empirical units daylight savings”” QWERTY keyboards – humans have a habit of keeping bad habits.”””
Severely feature-limited Vuukle, I can’t edit my posts.
I meant to say “seeing a 1000x gain IN a couple years”.
scalate?
Traditional cryptos were essentially safe because it required expensive amounts of computation to mine and trade them. You could cheat the system, but it was very expensive to do so. That was built into their whole being. Are you saying new cryptos are as safe or safer but not as computationally expensive? How does that work?
The point he was making is that the days of seeing a 1000x gain a couple years is over. There will be a lot of resistance to short-term replacement of our wealth system, so unless you have a guaranteed exchange between cryptos and “fiat” currencies, and work out how to do that without disrupting stock exchanges and the like, I’d say it’s going to take a lot longer than 10-15 years. We still haven’t gotten rid of our penny, for crying out loud, even though it’s essentially meaningless and costs more to make than it is worth. The empirical units, daylight savings, QWERTY keyboards – humans have a habit of keeping bad habits.
Thanks. I’ll check it out.
Thanks. I’ll check it out.
Short answer: try IOTA. Long answer: I see fiat currencies like dinosaurs, and cryptos as mammals/insects. They also didn’t looks like much at the beginning, uh? But they have a built-in resilience and evolution speed that’s unmatchable. They are of limited utility, right now. Extremely energy inefficient. Slow and unscalable. Buggy. Unacceptably high transaction costs. First generations criptos have horrible, gigantic blockchains that are not programmable, and their ledger are slow and dumb: think of hundreds of GB of a list of SMS, that you MUST download in you want to make a transaction! A good part of them has been abandoned and they are no longer developed, if not a total scam. But they evolve: they can adapt to economic niches and create value by providing solutions, instead of forcing business to find workaround from fiat currency rigidities, limitations and regulations. New generation cryptos are increasingly more stable, offer instant transaction time, can scalate to thousand/millions transactions per second and very safe. Energy efficient (no mining): and transactions are, by consequence, free. On top of this, they are built on increasingly sophisticated, programmable and interoperable databases (= new generations blockchains), that you DON’T need to download anymore. They are here to stay: they are here to rock. And I think Buterik is WRONG: they still can grow by a factor of 1000: it will take, I think somewhere between 10 to 15 years. By that time the world wealth will be at least double than what is today (probably even more, given the boost in economic growth that cryptos will allow): a 1000 fold growth from today’s cryptos capitalization will means that no more than a reasonable ~35% of global wealth will be stored in cryptos.
Short answer: try IOTA.Long answer: I see fiat currencies like dinosaurs and cryptos as mammals/insects.They also didn’t looks like much at the beginning uh? But they have a built-in resilience and evolution speed that’s unmatchable. They are of limited utility right now. Extremely energy inefficient. Slow and unscalable. Buggy. Unacceptably high transaction costs. First generations criptos have horrible gigantic blockchains that are not programmable and their ledger are slow and dumb: think of hundreds of GB of a list of SMS that you MUST download in you want to make a transaction! A good part of them has been abandoned and they are no longer developed if not a total scam.But they evolve: they can adapt to economic niches and create value by providing solutions instead of forcing business to find workaround from fiat currency rigidities limitations and regulations.New generation cryptos are increasingly more stable offer instant transaction time can scalate to thousand/millions transactions per second and very safe. Energy efficient (no mining): and transactions are by consequence free. On top of this they are built on increasingly sophisticated programmable and interoperable databases (= new generations blockchains) that you DON’T need to download anymore. They are here to stay: they are here to rock. And I think Buterik is WRONG: they still can grow by a factor of 1000: it will take I think somewhere between 10 to 15 years. By that time the world wealth will be at least double than what is today (probably even more given the boost in economic growth that cryptos will allow): a 1000 fold growth from today’s cryptos capitalization will means that no more than a reasonable ~35{22800fc54956079738b58e74e4dcd846757aa319aad70fcf90c97a58f3119a12} of global wealth will be stored in cryptos.
Does anyone knows of any blockchain or similar technologies that are generating real operational value outside of speculation? I spent some time digging into Ethereum and InterPlanetary File System but the costs imposed in supporting an ecosystem and and limited efficiency seem to far eclipse the real value delivered. The vast majority of the crypto implementations seem at best to be solutions for non-existent problems or more commonly investment schemes. (Full disclaimer – I did speculate on crypto during the Nov-Jan boom, and managed to escape with some of my gains, but it is the utility side I’ve been puzzled by.) This is meant as an honest question, because I feel like one of the crusty old farts who just doesn’t get what the kids see in it.
Does anyone knows of any blockchain or similar technologies that are generating real operational value outside of speculation? I spent some time digging into Ethereum and InterPlanetary File System but the costs imposed in supporting an ecosystem and and limited efficiency seem to far eclipse the real value delivered. The vast majority of the crypto implementations seem at best to be solutions for non-existent problems or more commonly investment schemes. (Full disclaimer – I did speculate on crypto during the Nov-Jan boom and managed to escape with some of my gains but it is the utility side I’ve been puzzled by.)This is meant as an honest question because I feel like one of the crusty old farts who just doesn’t get what the kids see in it.
Thanks. I’ll check it out.
Short answer: try IOTA.
Long answer: I see fiat currencies like dinosaurs, and cryptos as mammals/insects.
They also didn’t looks like much at the beginning, uh? But they have a built-in resilience and evolution speed that’s unmatchable.
They are of limited utility, right now. Extremely energy inefficient. Slow and unscalable. Buggy.
Unacceptably high transaction costs. First generations criptos have horrible, gigantic blockchains that are not programmable, and their ledger are slow and dumb: think of hundreds of GB of a list of SMS, that you MUST download in you want to make a transaction!
A good part of them has been abandoned and they are no longer developed, if not a total scam.
But they evolve: they can adapt to economic niches and create value by providing solutions, instead of forcing business to find workaround from fiat currency rigidities, limitations and regulations.
New generation cryptos are increasingly more stable, offer instant transaction time, can scalate to thousand/millions transactions per second and very safe. Energy efficient (no mining): and transactions are, by consequence, free. On top of this, they are built on increasingly sophisticated, programmable and interoperable databases (= new generations blockchains), that you DON’T need to download anymore.
They are here to stay: they are here to rock. And I think Buterik is WRONG: they still can grow by a factor of 1000: it will take, I think somewhere between 10 to 15 years. By that time the world wealth will be at least double than what is today (probably even more, given the boost in economic growth that cryptos will allow): a 1000 fold growth from today’s cryptos capitalization will means that no more than a reasonable ~35% of global wealth will be stored in cryptos.
Does anyone knows of any blockchain or similar technologies that are generating real operational value outside of speculation? I spent some time digging into Ethereum and InterPlanetary File System but the costs imposed in supporting an ecosystem and and limited efficiency seem to far eclipse the real value delivered. The vast majority of the crypto implementations seem at best to be solutions for non-existent problems or more commonly investment schemes. (Full disclaimer – I did speculate on crypto during the Nov-Jan boom, and managed to escape with some of my gains, but it is the utility side I’ve been puzzled by.)
This is meant as an honest question, because I feel like one of the crusty old farts who just doesn’t get what the kids see in it.