AskSteemit #8: What's something that has blown your mind regarding blockchain technology?
Since Steem is one of the best newbie friendly currencies out there and has introduced so many to this great tech and its very own even greater technology, I thought it would be a good time to discuss how other users see the blockchain.
Having been involved myself for quite some time, ever since Bitcoin, the waves of altcoins that started appearing after Litecoin and so on, it feels a bit like I've come to the stage where I take for granted many of its functions and advantages. It also gets hard to see things from a newcomers perspective spending most of my time here lately and reading more about News, following developments and researching up and coming projects.
That's why I would like to hear things from a different perspective every now and then and I thought this would be a good time for it. It doesn't matter if you are a newcomer or have been around even before Steem.
I want to hear what blockchain means to you personally. What you find so mind-blowing about it compared to everything before and so on.
Leave a comment down below, in these #AskSteemit posts I reward good discussions more than usual.
Well the first coin that I've come across and invested in was dogecoin, so that puts me around 2013/2014.
What I really hope people to grasp is the complete change in paradigm made possible by the Blockchain technology, similar to how TCP/IP irreversibly changed society. Websites rise and fall but the internet is there to stay, just the same way as coins will come up and disappear if the fundament isn't sound. But the blockchain will be the foundation which future apps be built upon.
I am not fazed by price rise and fall because that is not where the attention should be put at. "stupid money" (as I like to call them) is doing exactly what stupid money did back in the dotcom boom.
For starters, almost everything we humans are doing that involves records and consensus can be migrated to the blockchain where it will. Be vastly superior to the current method of doing things. Money (duh), databases, shareholding, ownership, voting (no country's done it yet but we already have a living proof of concept alive and kicking), and 1001 other things people have not come up with.
"bitcoin is a fad" is technically true. Simply because the attention towards it is just so overrated. I'm not saying the price though, I'm saying the attention. People didn't go nuts for Swiss banks just because they were the best store of value prior to blockchain.
The best investment one can make during this "hype" is by understanding and learning how the God damn thing works. No stupid money can trump the value of understanding what the blockchain is. The true winners of dotcom aren't the stupid money that saw 10000% ROI, the true winner are the geeks that drop out of schools and start making shit with the internet. Even if well after the hype. Same for blockchain.
So yea, that's supposed to be the mindset of someone wanting to know more about blockchain. Not the potential investment profit. Because as soon as they only think money on table. They've lost.
The amount of transparency and what this could mean for businesses, governments and users in the future. I believe transparency and open source are the way to go. If you look at countries that are doing well one of the things they have in common is the low amount of corruption. Blockchain technology takes this a step further. It is impossible for an app that is fully decentralised (dapp) to be corrupt. When corruption is low, creativity and innovation flourish. I think blockchain technology is a platform for huge growth and innovation to come.
Very well put!
Great initiative! I will keep working on trying to add value to this wonderful platform
I think that we will be in for a PR war between cryptocurrencies and fiat currencies (central banks) to win the support of the people, the users "money". I am very eager to see how China, a centrally planned economy with very strict currency controls, responds to cryptocurrencies, or potentially adopting blockchain technology on a national scale.
Yes that would be interesting. I think governments will be the last to switch over. Maybe some smaller countries will do some experimenting with their own crypto currencies. It is easier for a smaller country to make a change of this scale.
I think there will be a long transition period where both fiat and crypto will live next to each other. Eventually becoming fully assimilated by cryptos where fiat will be home to museums.
Another question would be how a government would implement a crypto, as crypto currencies tend to be decentralised by nature. A government has more merit from using a centralised version.
My prediction is that we will see Industry/Cartel crypotcurrencies. Imagine what would happen if OPEC banded together and created a centrally control blockchain similar to ripple. Something that couldn't be mined but could be controlled. The US Dollar would lose a substantial amount of power.
Thats a Great commnts i wish you are great @juliank
I find it mindblowing, or maybe not so much, that such a large and diverse group of people can govern themselves with such a great amount of decorum even when views and opinions are so widespread. Even at opposite ends of the spectrum, the opinions are discussed so that a widespread group jumps in and comes to some form of consensus without too much fighting and name calling. Current flag wars aside :)
The fact that electric currency has been created and can be traded anywhere in the world. I have taught my cousins in Pakistan about this and it blows my mind that they can use it too
The most fascinating thing to me is the opportunity to dream and start working on creating a smartcity from scratch that's powered by blockchain tech.
Without blockchain and cryptocurrency, I will kill the dream the moment it surfaces because achieving it using the traditional means can as well be related to a horse trying to enter the mouth of a needle.
Everything about blockchain to me is opportunity, wealth, revolutionary and entertaining.
Yes, its blockchain (or HashGraph) tech that is going to make an RBE and smartcities (cities based on systems design, aka the Venus Project) a realistic possibility, where no one can screw with the real time data and knowledge base and systems operations,,, as they will be locked in the Graph/Chain.
Yeah man, I was just reading something closely related few minutes ago and everything is just becoming interesting daily.
Do you have enough experience with HashGraph? @i-am-mark
None, just been learning about it,,, seems pretty simple and straight forward,,, as opposed to POS or POW scenarios.
Hey @bania you're right that i with you
Well, there are a few things:
My brain explodes when I read statements from government sources (in my country) about how they will create their own cryptocurrency. Or how and when they will come up with a law on the regulation of existing cryptocurrencies. They only see the money, but do not see the technology, and don't want to use it for other tasks.
My brain explodes from the possibility once and for all get rid of any frauds and scams (almost in any field) using this technology, and at the same time it allows you to hide any information.
My brain is exploding that we all use this technology primarily to make money. Every blockchain project and every user of these projects, the focus is primarily on earnings. I can't say that it is bad (still, I'm here) but I think we are moving in the wrong direction.
My brain explodes from the fact that more and more people know about the blockchain, but don't know what is it, how it works, although it's possible that just a few years our whole life will be built on it.
Hey ! I think your points are well explained but the last one is how it will be in 5-10 years from now, if the cryptos go mainstream and a large chunk of the population uses it, only a few geeks will understand it. Just take a look at the Internet, or the radio. It was reserved for aficionados and tech lovers and geeks ebfore it reaches the overall world, and even then, no one understand how radio or TV or Internet works properly. And too many peeps don't care about it hence the trouble to make them understand the Net Neutrality principle.
Partly you are right about the example with the TV and radio, but, consider that these technologies have never been closely linked with your personal data, while blockchain in theory and in the long term, will be a key information about you as a citizen and about all your money.
This is more fascinating thin in steemit blockchain. Introducing more smart options and features from developers team with high technology. There are more cryptos has. But Bitcoin has been priority currency module in this platform. Its always dumping and pumping i think when i search market capitalization. In fact how will i trust BTC? What about next planning currency? Smart media token will be awesome with nice options.
Steemit had created most of opportunities to users to earn more rewards. Also we can have fun and enjoy here, recognize great worldwide friends, updating cryptocurrency market trends, good knowledge of some topics etc... Steemit platform giving all opportunities to their users. Much appreciated.
The fact that information stored in blockchain(e.g. blog posts in steemit) stay there forever amazes me. Also the idea of being unregulated by any central authority or government is cool. I believe that if blockchain is utilized in other aspects of our lives rather than just being a mode of transaction will revolutionize society.
It's really cool to see how blockchain can change the world, we are living in the prime of change.
I find it mind-blowing that there is so much interrest and value in just some 1 and 0 determined by the load of a nearly invisible small transistor somewhere in the world and that there are people here on steemit that can live only from posting and without any adds.
One of the things I saw that really encapsulated the future and some of its uses was seeing bitcoin being sent with a tweet. I thought that was such a cool thing to be able to do coupled with the fact all you had to do was download a wallet to store it. No hassle with opening bank account etc and can be sent anywhere in the world.