Blockchain: the next billion dollar industry?
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The only way blockchain will make a big splash in any industry is to have a small network of trusted ledger hosts that doesn't use a method of transaction verification like BitCoin which requires solving a computationaly expensive problem that will never get any cheaper. The only way that I can think of for it be viable in the long run will is to keep the processing times small and the per-transaction costs down while providing the perception of trust. So... How to make a billions off of blockchain in 5 simple steps 1. Get together 3 to 7 of your richest friends 2. Create 3 to 7 "independent" companies that will form a blockchain verification network federation similar to the 3 credit reporting companies in the U.S. 3. Bring up your "federated blockchain trusted ledger network" that will process and store the blockchain transactions. Each company forms a trusted node. 4. Sell the services of your "federated blockchain trusted ledger network" 5. Profit Easy as that... I expect a check in the mail if it works... :-\
if (Object.DividedByZero == true) { Universe.Implode(); }
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The only way blockchain will make a big splash in any industry is to have a small network of trusted ledger hosts that doesn't use a method of transaction verification like BitCoin which requires solving a computationaly expensive problem that will never get any cheaper. The only way that I can think of for it be viable in the long run will is to keep the processing times small and the per-transaction costs down while providing the perception of trust. So... How to make a billions off of blockchain in 5 simple steps 1. Get together 3 to 7 of your richest friends 2. Create 3 to 7 "independent" companies that will form a blockchain verification network federation similar to the 3 credit reporting companies in the U.S. 3. Bring up your "federated blockchain trusted ledger network" that will process and store the blockchain transactions. Each company forms a trusted node. 4. Sell the services of your "federated blockchain trusted ledger network" 5. Profit Easy as that... I expect a check in the mail if it works... :-\
if (Object.DividedByZero == true) { Universe.Implode(); }
Foothill wrote:
while providing the perception of trust.
:omg: You lost me there...and, I don't think you will get me back. ;)
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The only way blockchain will make a big splash in any industry is to have a small network of trusted ledger hosts that doesn't use a method of transaction verification like BitCoin which requires solving a computationaly expensive problem that will never get any cheaper. The only way that I can think of for it be viable in the long run will is to keep the processing times small and the per-transaction costs down while providing the perception of trust. So... How to make a billions off of blockchain in 5 simple steps 1. Get together 3 to 7 of your richest friends 2. Create 3 to 7 "independent" companies that will form a blockchain verification network federation similar to the 3 credit reporting companies in the U.S. 3. Bring up your "federated blockchain trusted ledger network" that will process and store the blockchain transactions. Each company forms a trusted node. 4. Sell the services of your "federated blockchain trusted ledger network" 5. Profit Easy as that... I expect a check in the mail if it works... :-\
if (Object.DividedByZero == true) { Universe.Implode(); }
Foothill wrote:
I expect a check in the mail if it works..
Surely that would be definitive proof that it does not?
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The only way blockchain will make a big splash in any industry is to have a small network of trusted ledger hosts that doesn't use a method of transaction verification like BitCoin which requires solving a computationaly expensive problem that will never get any cheaper. The only way that I can think of for it be viable in the long run will is to keep the processing times small and the per-transaction costs down while providing the perception of trust. So... How to make a billions off of blockchain in 5 simple steps 1. Get together 3 to 7 of your richest friends 2. Create 3 to 7 "independent" companies that will form a blockchain verification network federation similar to the 3 credit reporting companies in the U.S. 3. Bring up your "federated blockchain trusted ledger network" that will process and store the blockchain transactions. Each company forms a trusted node. 4. Sell the services of your "federated blockchain trusted ledger network" 5. Profit Easy as that... I expect a check in the mail if it works... :-\
if (Object.DividedByZero == true) { Universe.Implode(); }
Please send me your bank data, I will transfer you the money.
M.D.V. ;) If something has a solution... Why do we have to worry about?. If it has no solution... For what reason do we have to worry about? Help me to understand what I'm saying, and I'll explain it better to you Rating helpful answers is nice, but saying thanks can be even nicer.
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The only way blockchain will make a big splash in any industry is to have a small network of trusted ledger hosts that doesn't use a method of transaction verification like BitCoin which requires solving a computationaly expensive problem that will never get any cheaper. The only way that I can think of for it be viable in the long run will is to keep the processing times small and the per-transaction costs down while providing the perception of trust. So... How to make a billions off of blockchain in 5 simple steps 1. Get together 3 to 7 of your richest friends 2. Create 3 to 7 "independent" companies that will form a blockchain verification network federation similar to the 3 credit reporting companies in the U.S. 3. Bring up your "federated blockchain trusted ledger network" that will process and store the blockchain transactions. Each company forms a trusted node. 4. Sell the services of your "federated blockchain trusted ledger network" 5. Profit Easy as that... I expect a check in the mail if it works... :-\
if (Object.DividedByZero == true) { Universe.Implode(); }
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The only way blockchain will make a big splash in any industry is to have a small network of trusted ledger hosts that doesn't use a method of transaction verification like BitCoin which requires solving a computationaly expensive problem that will never get any cheaper. The only way that I can think of for it be viable in the long run will is to keep the processing times small and the per-transaction costs down while providing the perception of trust. So... How to make a billions off of blockchain in 5 simple steps 1. Get together 3 to 7 of your richest friends 2. Create 3 to 7 "independent" companies that will form a blockchain verification network federation similar to the 3 credit reporting companies in the U.S. 3. Bring up your "federated blockchain trusted ledger network" that will process and store the blockchain transactions. Each company forms a trusted node. 4. Sell the services of your "federated blockchain trusted ledger network" 5. Profit Easy as that... I expect a check in the mail if it works... :-\
if (Object.DividedByZero == true) { Universe.Implode(); }
Foothill wrote:
The only way that I can think of for it be viable in the long run
Open your eyes; it is already being used, despite the "downsides" you mentioned.
Bastard Programmer from Hell :suss: If you can't read my code, try converting it here[^] "If you just follow the bacon Eddy, wherever it leads you, then you won't have to think about politics." -- Some Bell.
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Foothill wrote:
The only way that I can think of for it be viable in the long run
Open your eyes; it is already being used, despite the "downsides" you mentioned.
Bastard Programmer from Hell :suss: If you can't read my code, try converting it here[^] "If you just follow the bacon Eddy, wherever it leads you, then you won't have to think about politics." -- Some Bell.
I know. That still doesn't change the fact that BitCoin is an economically non-viable technology that will never grow out of its niche (unless it undergoes a mammoth change). Maybe another cryptocurrency will fill that roll eventually but then it will sacrifice security for the sake of convenience and speed which is no better than the current credit card networks. The blockchain, however, will gain some traction if used in 1st or 3rd party trusted networks; kind of how escrow accounts are used now.
if (Object.DividedByZero == true) { Universe.Implode(); }
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I know. That still doesn't change the fact that BitCoin is an economically non-viable technology that will never grow out of its niche (unless it undergoes a mammoth change). Maybe another cryptocurrency will fill that roll eventually but then it will sacrifice security for the sake of convenience and speed which is no better than the current credit card networks. The blockchain, however, will gain some traction if used in 1st or 3rd party trusted networks; kind of how escrow accounts are used now.
if (Object.DividedByZero == true) { Universe.Implode(); }
Foothill wrote:
I know. That still doesn't change the fact that BitCoin is an economically non-viable technology that will never grow out of its niche (unless it undergoes a mammoth change).
You considering it non-viable does not change the fact that 2% of Americans own it :)
Bastard Programmer from Hell :suss: If you can't read my code, try converting it here[^] "If you just follow the bacon Eddy, wherever it leads you, then you won't have to think about politics." -- Some Bell.
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Foothill wrote:
I know. That still doesn't change the fact that BitCoin is an economically non-viable technology that will never grow out of its niche (unless it undergoes a mammoth change).
You considering it non-viable does not change the fact that 2% of Americans own it :)
Bastard Programmer from Hell :suss: If you can't read my code, try converting it here[^] "If you just follow the bacon Eddy, wherever it leads you, then you won't have to think about politics." -- Some Bell.
I realize that.
Eddy Vluggen wrote:
2% of Americans own it
I think the percentage might actually be higher. :sigh: Fear of missing out drove sales during the big spike. I will never waste my money on it. Transaction costs alone makes it too expensive for most of us anymore.
if (Object.DividedByZero == true) { Universe.Implode(); }
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I realize that.
Eddy Vluggen wrote:
2% of Americans own it
I think the percentage might actually be higher. :sigh: Fear of missing out drove sales during the big spike. I will never waste my money on it. Transaction costs alone makes it too expensive for most of us anymore.
if (Object.DividedByZero == true) { Universe.Implode(); }
Foothill wrote:
I think the percentage might actually be higher. :sigh:
I didn't think, I was quoting; New Gallup Poll Shows Only 2% Of US Investors Own Bitcoin, But 26% Are "Intrigued" | Zero Hedge[^]
Foothill wrote:
Fear of missing out drove sales during the big spike. I will never waste my money on it.
Given the way fiat-currencies are being devalued around the world, a currency that cannot be manipulated by politicians might be.. interesting :) As for bubbles go; it seems that more people own stocks than BC. One of the two still has room for growth.
Bastard Programmer from Hell :suss: If you can't read my code, try converting it here[^] "If you just follow the bacon Eddy, wherever it leads you, then you won't have to think about politics." -- Some Bell.
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The only way blockchain will make a big splash in any industry is to have a small network of trusted ledger hosts that doesn't use a method of transaction verification like BitCoin which requires solving a computationaly expensive problem that will never get any cheaper. The only way that I can think of for it be viable in the long run will is to keep the processing times small and the per-transaction costs down while providing the perception of trust. So... How to make a billions off of blockchain in 5 simple steps 1. Get together 3 to 7 of your richest friends 2. Create 3 to 7 "independent" companies that will form a blockchain verification network federation similar to the 3 credit reporting companies in the U.S. 3. Bring up your "federated blockchain trusted ledger network" that will process and store the blockchain transactions. Each company forms a trusted node. 4. Sell the services of your "federated blockchain trusted ledger network" 5. Profit Easy as that... I expect a check in the mail if it works... :-\
if (Object.DividedByZero == true) { Universe.Implode(); }
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Since there are often "two sets of books", will there also be 2 blockchains?
"(I) am amazed to see myself here rather than there ... now rather than then". ― Blaise Pascal
The ledger is distributed so you could theoretically have a million set of books but you need to shrink that down if you want to make money off of blockchain. My idea was to start up a "Blockchain Federation" of companies to offer Blockchain as a Service. The federation could maintain any number of discrete blockchains for any kind of business relationship and their network would act as the distributed ledger. This way you don't have to share your ledger with the entire world but you still get the benefit of blockchain's robust, decentralized nature. There's no way I could afford to build it so I posted the idea here.
if (Object.DividedByZero == true) { Universe.Implode(); }