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Joined: 12/13/1999 Posts: 24433
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What's this?

I really think that is the basic explanation of blockchain

It is transforming the ways we do things not making something completely new.

most other examples I see on-line talk about this transforming the way records are kept, or the way identities are protected, or the way documents are stored and shared, or how items are purchased.

But all those things that the blockchain effects, are still the same in principal. Records are still held, identities are still kept, documents are still stored and shared, items are purchased, just in a different and more efficient and secure way. Good for the consumer, yes, I see all that.

Will the cost savings and benefits trickle down to the consumer? How much is yet to be seen.
[Post edited by HokieSignGuy at 05/21/2021 3:57PM]

(In response to this post by Technocrat)

Posted: 05/21/2021 at 3:57PM

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Current Thread:

Crypto people... Let's discuss.... I keep hearing that crypto currency and -- HokieSignGuy 05/21/2021 1:08PM

Ok, so let me explain a few things -- MrBayAreaHokie 05/21/2021 2:52PM

"a tsumani of change is coming"=which way tho? pro or con crypto? TIA ** -- bourbonstreet 05/21/2021 5:05PM

The big question is which crypto emerges as the victor? Bitcoin, ether, -- HortHokie 05/21/2021 4:35PM

I think ecosystems will specialize but need to have interoperability ** -- Technocrat 05/21/2021 5:32PM

It's called risk ** -- 133743Hokie 05/21/2021 4:28PM

I don't doubt the importance and future applications to the financial -- HokieSignGuy 05/21/2021 3:03PM

One from your document.... I can see the blockchain helping with contracts -- HokieSignGuy 05/21/2021 3:07PM

So at work -- MrBayAreaHokie 05/21/2021 4:23PM

That sounds pretty awesome. Most consumers will have no idea how -- HokieSignGuy 05/21/2021 4:28PM

It should, but they might just make more money too LOL -- MrBayAreaHokie 05/21/2021 7:20PM

I Just heard this... -- HokieSignGuy 05/21/2021 2:31PM

That is correct and much of the value lies in electronic or smart -- Technocrat 05/21/2021 2:51PM

All subject to hacking and electronic manipulation. Digital security -- 133743Hokie 05/21/2021 4:36PM

Not only that, but privacy as well. If all my transactions are stored ... -- Freddyburg Hokie 05/21/2021 6:56PM

Your name is not attached to your records ** -- Technocrat 05/21/2021 8:45PM

Don’t question the blockchain!!! -- HokieSignGuy 05/21/2021 8:28PM

Whew! That will be a long read, but looks like a good one. Your excerpt -- HokieSignGuy 05/21/2021 3:00PM

This could very well be the dot com moment for Web 3.0 -- Technocrat 05/21/2021 3:13PM

Okay, that Stream-lines a process that right now, is inefficient. -- HokieSignGuy 05/21/2021 3:28PM

Thats like at a new webpage and saying how is the internet going to change? -- Technocrat 05/21/2021 3:32PM

Okay, per your examples.... -- HokieSignGuy 05/21/2021 3:45PM

In all seriousness one of the biggest changes will about you, and what -- Technocrat 05/21/2021 4:02PM

Yes, transformative. -- HokieSignGuy 05/21/2021 4:10PM

More will be revealed 😊 ** -- Technocrat 05/21/2021 3:49PM

I really think that is the basic explanation of blockchain -- HokieSignGuy 05/21/2021 3:57PM

It's transforming me into a billionaire. That's what's amazing. ** -- ElbertoHokie 05/21/2021 4:18PM

Charges will be much easier to be pay by use - think cable tv -- Technocrat 05/21/2021 4:04PM

Yeah, I welcome those changes. -- HokieSignGuy 05/21/2021 4:13PM

Please see above ** -- Technocrat 05/21/2021 4:02PM

^^ That is like looking at a webpage.... ** -- Technocrat 05/21/2021 3:37PM

Yet another hyped revolution...in the ether this time. For now, i see -- ColoVT82 05/21/2021 1:55PM

Here's a related question, what will bitcoin fees look like in the future? -- jmanatVT 05/21/2021 1:37PM

Who controls those fees? Is it based on an algorithm so the fee structure -- HokieSignGuy 05/21/2021 1:44PM

For bitcoin, the fee is a bid by the person who wants the transaction -- jmanatVT 05/21/2021 2:29PM

Something can be a different way of doing what we already do and still -- Tafkam Hokie 05/21/2021 1:19PM

But the backing of a government is what makes the currencies stable... -- HokieSignGuy 05/21/2021 1:26PM

All true, but the "confidence" people have in a government vs. a -- Tafkam Hokie 05/21/2021 1:37PM

Here's the Cliff Notes version -- darnellm 05/21/2021 1:19PM

Here the CLICKABLE LINK for dummes. -- HokieSignGuy 05/21/2021 1:21PM

Fat mac always struggled at hyperlinks as well. Coincidence? ** -- BG Hokie 05/21/2021 2:06PM

If you can't see how revolutionary it is, I don't know what to tell you. -- MP4VT2004 05/21/2021 1:14PM

Lol, that the the EXACT kind of thing I keep hearing about it... -- HokieSignGuy 05/21/2021 1:20PM

Seems more like the pathway to dystopian future where -- Tafkam Hokie 05/21/2021 1:39PM

I get the feeling that some crypto investors are actually rooting for that. ** -- TekkNerd 05/21/2021 2:01PM

Yep. Kinda survival of the fittest mentality going on. ** -- Femoyer Hokie 05/21/2021 2:03PM

Yeah, from my outsider's perspective, it seems like... -- MP4VT2004 05/21/2021 1:26PM

I'm just trying to figure out how it will REALLY revolutionize the world. -- HokieSignGuy 05/21/2021 1:31PM

Digital tulips.... -- Vtskier1 05/21/2021 1:24PM

I really think that is the basic explanation of blockchain

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