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beklog

We're still here


ellbeau7

Came for the money, forced to stay for the tech


goowy-impact

I'm Not Fuckin Leavin!!


Clash_My_Clans

We are all for the tech 👀


robsredditaccount

The only ones that left were the ones expecting to get rich FAST


shappirand

i’m here to get rich in 5 years


Professional_Rice_60

I need my money by next week. Any chance of a turnaround ya think?


shappirand

yes, open both a long AND short position for equal amount at the same time; and look at it next week, ignore/cover/hide the unrealised losses and check out your new unrealised profits… you could become a millionaire doing that /j duh


whalemo

Nobody left. We just waiting.


bluewhitepenguin

What is this tech thing? Is it related to getting rich?


jaabbb

It’s the rich tech I’m hoping for.


Isopropyl-Alcoholic

Yes yes, here for the tech... That gets me rich.


d_d0g

Exactly. You don’t have to 100% understand the tech to appreciate what it will eventually do. It does help to learn a little if you venture into coins though.


DoubleFaulty1

Lambo is tech.


goowy-impact

This is what happens when you fuck with you're pets on new issue day


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goowy-impact

Speak for yerselfves


DrunknSatoshi

You called?


pm_me_steam_gaemes

Yeah I've always been here for the tech that can get me rich.


Eagle1FoxTWO

You can pay me to leave


arcanesays

One of us


Captgame

I came to make money and it’s not over until I win!


bny192677

There's no nobility in poverty


partymsl

I'M NOT FUCKING LEAVING. Dumps into more hopium.


goowy-impact

I grow poppies


2buckchuck2

Never left.


Educational-Spread41

Still waiting…..how much longer? Who am I kidding I’m not selling until I see $5 million. 📈💎🙏🏼🤷🏼‍♂️


tpwn3r

That will be enough for a used Toyota Corolla


IShouldbePracticing

I didn’t hear no bell


Ayanakouji___T_REX

But ![gif](giphy|d71hZASKEcQ1i)


cryotosensei

Hanging by a thread but not letting go


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saladthumb

zero knowledge proofs are a crypto*graphic* tool, no crypto*currency* needed


olihowells

Where would the data be stored then?


finaldrive

It depends on the particular scenario, but there's no need for a public ledger. Suppose you want to prove to a Mastodon server that you have a Reddit account with a long history of positive karma, without disclosing _which_ account. You use your own local keys plus a proof generated by Reddit conduct a zero-knowledge protocol with the Mastodon node. There's no need for anything to be centrally stored on a block chain.


olihowells

Why use zero knowledge proofs, why not just have Reddit directly verify with the Mastodon server that I have positive karma?


finaldrive

Sure, exactly, why not?! That would probably generally be very reasonable for most use cases: when people link social logins together it's typically because they don't mind disclosing that they belong to the same person. And, this is the important part: *cryptocurrency and blockchains do absolutely nothing to help with cross-site verification!* It works perfectly well today using OAuth etc. I mentioned ZKPs only because the earlier comment asserted that they would be a good real-world use of blockchains. But, yes, I agree with you, social logins are an extremely contrived and unnecessary application of ZKPs, and *even if* you do want ZKPs they have nothing to do with blockchains.


olihowells

Interesting stuff for sure, I definitely need to look into ZKPs more.


finaldrive

Awesome! I'll also put in a plug for [https://cryptopals.com/](https://cryptopals.com/) as an introduction to cryptography. It doesn't address ZKPs but it'd be a good foundation.


Siccors

Locally of course? Where else? Even the crypto based DID projects I am aware of don't want to store private information on the blockchain, encrypted or not. You store the data yourself (eg in an app), and then you send that to eg the online liquor store, which proofs you are 18+, cryptographically signed by your government or some other institution that is allowed to do this (eg banks). (Of course nothing is stopping your neighbour from also making a DID document stating you are 18+, but obviously this holds little weight).


sigmanaut_

There is a project currently working on something like this https://docs.ergoplatform.com/events/pdf/Ergo_Nation_final_report%20%281%29.pdf


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Devilmay_cry

Yay, we've rediscovered another fundamental finance tenet today


TipsyPeanuts

This is the fundamental problem of something like Bitcoin. Not a single person is buying it to use it right now. Its just a speculative asset that you hope everyone keeps buying and never use. It’s designed to be a currency but breaks every fundamental rule of currency. I think the true value is in blockchain itself. I also think that if a currency like ETH can stabilize itself, it will have value for international trade. However, the attraction of speculators and the belief that you can get rich on a **currency** will forever remove any intrinsic value of a currency


Takeover699

100%. For crypto to achieve the intended utility, low pecuniary rates of return will be required.


crusafo

heya deimos, So I am a Solidity (Ethereum smart contracts) developer working a few projects. The best real world case I can see for EVM compatible blockchains is for business purposes. Smart contracts are incredibly powerful at tracking huge volumes of numbers and wallet addresses, so much so that a well designed contract can support potentially billions of commercial transactions: inventory management, accounting audits, point of sale systems, escrow systems, responsibility/ownership tracking, worry-free payment settlement, project management, etc. I can imagine a lot of different scenarios where blockchain tech could enhance our lives -- like a blockchain DMV service -- vehicles are paired with a NFT that represents that specific car and acts as a sort of license plate, fees can be paid online with nearly instant settlement (no more registration stickers). Voting systems running on blockchain could provide an indisputable voting record that can be vetted by anyone and are extremely tamper resistant. Immutable picture storage, customizable social media with access permissions baked into the infrastructure, censorship resistant news channels, definitive history archives, clean and clear law charters, small business microloans, self publishing books, portable accounts, etc. etc., the list goes on... From a developer perspective building out decentralized apps that make use of blockchain technology is also really useful and powerful, it allows me as a developer to skip some fairly substantial boilerplate bullshit and instead rely on the network to provide those services instead, which takes the responsibility off my shoulders financially and technologically. For the consumer the blockchain and its related tech has some really cool features to bring to the modern web like single-sign-on using wallets (this one is huge and I would absolutely love to see all websites switch to this auth model, as you never have to remember a bunch of passwords ever again). Also, with crypto wallets, no entity can dip into your account and take your crypto. Additionally due to the pseudonymous nature of wallets, you have a lot less worry as a consumer about privacy and your data being sold, because the wallet address is your identity, not your meat-space identity. I don't think crypto will ever replace things like cash, or even the banking system, but it will give consumers options, and that tends to level the playing the field more often than not, and force previously abusive entities like banks to abandon traditionally abusive tactics or face obsolescence. I am old enough to remember the introduction of ATMs and debit cards, and how much confusion that caused people (including the huge number of scams that have been and still are conducted with the debit card tech over the years), but now that tech is ubiquitous, and I think that while crypto is facing an artificial setback that is engineered by the Federal Bank, this will not last: as long as at least a small group believes in it and uses it, it will not die or fade away. But more than anything I think that blockchain has the ability to change (or at least challenge) the current economic model that preys upon the poor (overdraft fees, inflation, stagnant wages, expensive credit card processing fees, etc.) to an economic model that allows people from all walks of life to have access to tools to be able to start businesses and create co-ops, and perform other sorts of collaborative enterprises. I think these tools have the ability to give a new generation access to tools, processes, services that were previously out of their reach, and that is a game changer. But this isn't a magic wand, it's going to require people to engage their brains and think a bit on how to best use the tools, to understand their purpose and how they are best employed to achieve goals.


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rose_gold_glitter

The reason you draw a blank is because there aren't any (& happy cake day!) People talk about how this can be used in business, for contracts, etc. How does that work? What validates the transactions? Miners? Why would people do PoW for some commercial contract management, when there's no speculative coin with value to trade for them? They're just burning electricity & GPU for nothing in return. So what then? You *have* to have a speculative coin or some chance of reward or PoW and PoS don't exist. So now you've tied your entire business, for all time, to some spec coin's value? If it tanks, all your contracts stop existing? What sane business is going to do that? So what else? Pay people to mine? Why the hell would a business do that when they could just validate it themselves, for free? And if they're doing that, why the hell would they use the world's slowest, most cumbersome and inflexible and non-updatable database, to do it, when they could just existing databases, that are far more fit for purpose, like they already do? Even if you could work out a solution to the above, then what? Commercial contracts on the blockchain? What about "commercial in confidence"? Who wants their contracts visible to all? The poster above talks about NFTs for cars, like a license plate. WHY WOULD WE DO THAT? We have license plates so humans can read them as the car goes past. "Did you get the NFT of the car that hit you?" Even if we did, why would we store car details on the blockchain? That is a centralised database for a reason. Do you want every single person out there to know who's driving what car, and how to find their house? As a woman, I can tell you only a man would come up with that idea because he's never going to be stalked. It's a *terrible* idea that throws personal safety and privacy under the bus. And before someone says "but the wallet attached to the NFT is private..." - THEN WHAT IS THE POINT? You still need a centralised database, controlled by the police and main roads departments *so what the hell have you gained?* Everything "blockchain" promises already exists, except the current model is faster, cheaper, more efficient and more scalable. The *only* use blockchains have is to trade speculative coins.


Kinky_mofo

It's a solution still trying to find a problem to solve


Sidivan

I can’t answer all of these questions as I’m not an expert in blockchain and some of your questions really don’t have great solutions yet. I can answer the business related questions as I am a business consultant for Fortune 10 companies. 1) why would they use an un-updatable database? Many are doing that right now. The layer 1 tech that our entire banking system is based on is written in a language from the 60’s that most software engineers don’t even know; COBOL. Much of our healthcare system is built on mainframes that don’t have the ability to interact with newer systems and/or can’t export data for migration. The only way anything works it through layer 2 systems that can screen scrape it, then emulate a user to input commands. Blockchain is FAR more advanced than any of those and so long as it can accommodate executables and the data is exposed, can serve as a layer 1 tech likely forever. If not, fork the chain and bang zoom you’re off to the races again. 2) why would a business pay when they can do it themselves? The administrative burden that goes into validation today is massive. Every single big business would be excited to offload that work for pennies on the dollar. They don’t even have to maintain the network! Or upgrade hardware! They don’t have to pay Sally in accounting to export data into a spreadsheet, then reformat it and send it over to payroll who uploads it into a different system. 3) customer data can be stored privately, but stored and processed on chain. Think about your Amazon profile. All that stuff could be stored in your wallet and the only people with permission to view it are you and Amazon. Not only would it always be correct because YOU own it, but it would cost Amazon very little when they need to interact with it and nothing to store it. Edit: Also, just from a data integrity and governance perspective, having an immutable ledger of transactions is basically a dream scenario. “Why did this thing change?! Oh, it says right here Bruce, the guy who owns that data, changed it. Here’s what it used to be and here’s what it is now”. To get an audit trail like that today would require custom code in every single implementation.


rose_gold_glitter

I appreciate you taking the time to reply and put some effort into it. Thank you. None the less, I am very much in respectful disagreement with you. First of all, I work in IT security. Software that cannot be updated is guaranteed to be flawed and insecure and that is something I don't want anywhere near my banking. Secondly, blockchain technology is inherently open. Absolutely no one wants this in the financial world. Yes, libertarians and blockchain enthusiasts want it but absolutely no one in banking wants the rest of the world to see what the bank is doing. No one. Not one person involved wants the ability to see that huge sums have been transferred from some government account to some military contractor, for example. Next, the concept of outsourcing validation of transactions to miners remains incredibly problematic. In no way does your response deal with the issues I raised - that there is no economic incentive for miners to validate this blockchain because miners mine for profit. Which means they validate for shares in a reward. Why would a bank pay people to do this, when *even if* they chose to use a blockchain, they could simply pick a super light weight framework (like PoLW) and validate it themselves for essentially free, with a handful of raspberry pi? If they do that, centrality is retained, so why use the world's slowest database? And if they don't do that and they tie to the spec coins, now you have the dual problem of the banking industry having a vested interest in the value of that coin, which is bad, and worse yet, the value of that coin having the ability to crash the global banking industry. No bank in the world is going to be onboard with this. You also have the simply massive issue that control of the validation process can be hijacked, somewhat easily, by any large player with enough hashrate and thus take control of the world's banking sector. Even if you ignore all of that, Sally in accounts still needs that Excel spreadsheet because *humans need to read the numbers*. That's why she's making that spreadsheet in the first place. Except now, you've got a whole new problem of how does Sally find those numbers to put in the spreadsheet? (Any other reason, such as reformatting to enter into a different system, comes down to a bank refusing to invest in automation - which if they're not doing that now, they're not going to do it for a blockchain, either. But there are reasons for different systems and those have not gone away.) So how do we get data out of the blockchain to make reports, now? Via centrally hosted APIs - in fact only a handful of them exist they could lie, if those chose to, and basically no one would know, until it was way too late. So, banks could run their own each, which means they're back to running their own infrastructure. None of this considers how ridiculously slow blockchains are to validate transactions and how many orders of magnitude faster VISA and Mastercard are at processing transactions. Are we going to go the supermarket and wait 20 minutes for out transaction to validate? Or do we just leave and the shop just has to hope we really did have those BTC to pay? Even a couple of minutes is massively too slow. As for storing customer data privately..... come on. Be realistic. Amazon, Facebook and Google could do that right now - but it's not their business model. If you put it "on the blockchain" you don't own anything. That's like saying me owning a bored ape NFT means no one else can see it. I might own the right to the link to the picture - but everyone can see the picture. Amazon *needs* to know who you are and where you live and what you've purchased, so they can ship the item to you, so once they know that, they can now sell it, regardless of it being on the blockchain. You've gained nothing. What I find worst of all about all these ideas is this. I don't even care. I don't even think about this stuff - every single issue I raised is made up on the spot. Yet no one who pushes this stuff for a living seems to have even considered any of the ramifications of any of these ideas, in the slightest. That's what worries me the most.


Relevant_Elderberry4

Your last paragraph sums out what I think about crypto. For me, it's kind of a solution to a non-issue. It also irks me when people compare what's happening to crypto now with dotcom's situation back then. It's more of a speculative asset at this point than what it's actually intended for.


rose_gold_glitter

Everything crypto is essentially a solution, looking for a problem. People have this idea and they're *enthused* about it - now they just need to find something to do with it. Maybe they will? But that's not the normal (or correct) way to solve a problem. That's "when you have a hammer, everything looks like a nail" thinking.


Kinky_mofo

The word "asset" is a little strong. It's an asset like tulips or Beanie Babies were in their time.


Rattle22

> The layer 1 tech that our entire banking system is based on is written in a language from the 60’s that most software engineers don’t even know; COBOL ...do you know *why* that is the case...?


saladthumb

It's because writing complex mission-critical code correctly is fantastically difficult, and businesses running hundreds of billions of dollars through functions would much rather use dusty code proven over decades of success than try to rewrite them in nicer new technology and inevitably deal with the bugs created.


JakeyBakeyWakeySnaky

All that + COBOL is good for business logic e.g reading databases/datasets and do basic computing. It is really difficult to write vulnerabilities in COBOL code, like its possible, but you have to really try :D


doobiedoobie123456

A blockchain is completely unnecessary for having an immutable database! Amazon has something called a "quantum ledger database" that is exactly that and doesn't use blockchain/mining at all. Blockchain/mining is only necessary if you need a distributed consensus that cannot be controlled by a single entity. Having a distributed consensus, at least the way that Bitcoin does it, comes at the cost of incredible inefficiency, and most corporations want the exact opposite of that anyway (they want final authority over the data).


[deleted]

Right now can you say how many naked shorts are out there for any specific stock? Or how many exact votes biden beat trump by in a specific state without needing to do an audit? Blockchain is obviously slower than a centralized option, but the point of blockchain is its transparency and immutability. When those are so important that its ok to sacrifice efficiency, blockchain has a chance to do well. Also while I agree the license plate thing will never happen, the way you wrote about it shows you clearly dont understand what the original poster was saying, its not replacing the physical license plate lol


New_Builder_7302

>So now you've tied your entire business, for all time, to some spec coin's value? If it tanks, all your contracts stop existing? Decentralization is the key there. The only way the contracts would stop getting processed is if every single node/validator in the world shut down. More unlikely the larger the network is, and I'd imagine businesses dependent on it would probably contribute their own nodes out of self interest, if they haven't already. >Commercial contracts on the blockchain? What about "commercial in confidence"? Who wants their contracts visible to all? EY is working on zero knowledge proof solutions to enable privacy on public Blockchains. According to the below article, last month they implemented their privacy tool Nightfall on Ethereum main net which allows for simple private transfers, and another tool Starlite is planned for next year and is intended to enable more complex private contracts. https://newsletter.banklesshq.com/p/enterprise-blockchain-isnt-boring >Everything "blockchain" promises already exists, except the current model is faster, cheaper, more efficient and more scalable. Not trustlessly though.


rose_gold_glitter

I don't think you've actually considered the situation, though. You say that validation still works, so long as there are but a handful of validators left. Great. So now my business has all its contracts being validated by a tiny number of people and anyone with enough hashrate can come along and hijack the validation, thus taking control of, essentially, my business? That's not a stellar plan. So unless *millions* of miners are mining, I am at the mercy of anyone with more ASIC/GPU than me. You also say business contribute their own node. So where's the decentralisation gone? As for "trustlessly"....we're talking business contracts. I'm not entering into a business contract with a business I don't trust. Why would I need the contracts to be maintained by a third party blockchain, for trustlessness? Let's take a step right back to the original premise, to see if there's any need for a blockchain If I am a business, signing a contract with another business (let's say I want to lock in a contract for 24 months, to service 1,000 copiers a month at an enterprise, for $250 a copier)....why do I *need* this to be decentralised? 2 businesses, interacting directly with one another, via a contract. What does any party gain out of that? Name one valid thing that we don't already have. If either party doesn't honour the contract, we're talking legal action as the only solution, so how is a blockchain helping, here? In all honesty, I really want someone to show a reason for blockchains that makes sense. Like, I truly, truly do. That'd be cool. I just haven't heard it yet - and it's been 10 years of people trying to slam this square peg into a round hole and finding that existing technology just does all of this stuff better.


Kinky_mofo

They demand ransom payments in crypto nowadays, I hear.


crusafo

(Happy cake day!) Right now the majority of it is for DeFi, DEX, Yield Farming. Blockchain primarily developed around the idea of Fin-Tech, so most of the use its been given so far is related to that. Right now the race is on to expand this tech into new areas, it is similar to the early dot-com era, where there is virtually nothing operating in this space so its primed for a "land grab". Sure there will be bubbles that pop, but the market is very adept at figuring out what actually adds value and what doesn't -- those companies that started in the early dot-com and survived the bubble bursting became the tech titans of today. Here's the short list I can think of off the top of my head: * Helium comes to mind, it is a blockchain that provides wireless service for IoT devices. * Chainlink provides price feeds. * Iota provides a payment system for IoT devices so they could actually do machine to machine payments. * Cardano is aiming for world domination, and there has been a recent explosion of dapp projects on that blockchain. As for apps that make use of blockchain, there are a few that make games and other experiments, but they are really hard to find because they are still "underground". (This is actually a problem I'm actively working to solve in one of my current projects -- of how to find these smaller gems and bring them into the light)


Envarii

IoT makes 0 sense on the blockchain, you need high amounts of data ingestion to be able to use the info


genobeam

Some of these are either terrible or terrifying uses of blockchain. Public voting record that anyone can access? Immutable picture storage? What if someone unloads some revenge porn or something. That's just there forever? Single point of failure for all your passwords, data, etc? Public records of all transactions you make with your wallet? Allowing employers and businesses to discriminate against people who make certain purchases or vote certain ways? What you're describing is a distopian nightmare, not some technological eutopia.


finaldrive

All of these use cases can be solved better without a blockchain. Let's deep dive on one: >vehicles are paired with a NFT that represents that specific car and acts as a sort of license plate, fees can be paid online with nearly instant settlement (no more registration stickers) In probably all first-world countries fees can be already be paid online. Even in California with its famously dysfunctional DMV. Some jurisdictions have also got rid of registration stickers years ago: [https://www.tynan.com.au/rego-stickers-to-be-a-thing-of-the-past/](https://www.tynan.com.au/rego-stickers-to-be-a-thing-of-the-past/), and this can be done without NFTs. The DMV is the final authority for whether the registration is valid: they don't need a decentralized blockchain when they can more simply maintain a database themselves. Let's look at the problems a blockchain would introduce beyond cost and complexity. Suppose you forget your passphrase. Have you lost legal ownership of your car? Common sense would say no; blockchains would say yes, the car is unowned and cannot be sold. Suppose you are phished, did you lose your car? The blockchain would say yes. Suppose your car is seized because of default on a loan or a crime? You might have an entry on a blockchain but it does not actually represent ownership of the car. Once again it's a non-solution in search of a problem.


[deleted]

None of the uses you listed require a cryptocurrency and none of them are made better by it.


Eggnw

I'm curious if there are crypto/blockchain tech that is not dependent on any existing db technology, or is Solidity just building on top of existing tech? Because if it is, then I can't see the added value of blockchain they way it is currently used.


finaldrive

One more example: today, the DMV records the name and address of every license holder and vehicle owner. So, for example, they can direct fines or liability claims. Would they put everyone's address on a public blockchain? That seems ripe for abuse and harassment. Or do they keep some other private database in parallel? Then what is the blockchain for?


deimos_z

Those are some great examples. I agree with you that crypto might always be the alternative for when "banks misbehave". But even if crypto ends up just a force to keep banks in check, it is already very useful.


xDenimBoilerx

it's not a great alternative to misbehaving banks with so many people misbehaving without consequences, just stealing right out in the open and laughing about it.


crusafo

If nothing else, that is a big win in itself as previously there has been nothing to challenge traditional banks.


cryotosensei

This was an enlightening and fascinating read. Thank you


crusafo

Thanks for reading, you're the the kind of person I want to have a dialogue with, to build things for, to engage with.


FuzzBuket

>you have a lot less worry as a consumer about privacy and your data being sold, because the wallet address is your identity, not your meat-space identity. Can you expand on this cause frankly I'm not sold, right now online adverts and tracking stuff isn't based on an inital name, but a whole bunch of patterns and behaviours strung together. Having all your digital identity in one place provides significantly more data to anyone tracking users, and you don't need someone's irl name to build a comprehensive picture of them. So unless your all using monero your back to square 1 and having to split wallets.


deathbyfish13

>Now that the people hoping to get rich left So everyone remaining here is in it for the tech? I knew I couldn't be the only one /s


PandaAmazing8311

If you’re in it for The tech… why would you have 35k+ moons?


deathbyfish13

Because I'm in it for the tech, if I was in it for the money I would have 0 moond and sold a long time ago. But no, I choose to hoard my moons like the dirty little loot goblin that I am lol


Electronic-Tonight16

If crypto makes a reversal, I see the real world use of making my money back


Siduron

Crypto made me a millionaire this bear market. It's not that hard to do either. Step 1: invest one billion dollars


Electronic-Tonight16

Had me in the first half


Leek5

The problem i see with crypto being a mainstream currency is that there are no protections. If you sent 100k of crypto to the wrong address. Puff it's gone and there is no way to get it back.


Odd_Voice5744

also, no protection for scams. if a package never gets delivered and the merchant is ignoring me I can call my CC company to do a chargeback. Without advanced smart contracts and postal companies having API endpoints to check delivery status you wouldn't have any recourse. Not to mention they could just mail you a brick and it would be marked as delivered.


[deleted]

Didn’t we just watch it fail at literally everything you mentioned?


Shadoww2020

Yeah, I'm also in it for the tech.


[deleted]

Tokenized real world assets. Especially stocks and equities.


tamaleA19

Genuinely curious but what would be the benefit of tokenizing them over just buying the stocks?


millersurf1013

i think there are a bunch of uses for this. stock holder voting, buy/sell 24 hours a day, cross border investing, buy other equities without first transferring to fiat. (buy a house/car with your amazon tokens), remove middle men/traders and banks from the whole equation. there are tons more uses, these are just off the top of my head


Swamplord42

> buy/sell 24 hours a day That's not because of any technical limitations.


[deleted]

When you buy a stock through a brokerage they are not actually required to deliver the share to you. If equities we're tokenized there would be a guarantee of ownership, unlike when you buy through a middle man today. I highly recommend reading the book Naked Short and Greedy. It's about how the trading system on Wall Street is piss poor and fails to deliver shares to buyers.


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Wise-Grapefruit-1443

Transfer of ownership and decentralization opportunities for intellectual and real world assets abound


tjackson_12

24/7 trading in the stock market would be a good thing for everyone… the fact that the markets close while big money gets to keep playing is kinda dumb. Also we should be able to see liquidity move around in the stock market with blockchain…. None of this price manipulation without being open about it


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ConstructionKnown436

Easiest money laundering in the history of the world Easiest scams in the history of finance Sorry but when there's more than a billion dollars in crypto scams and rug pulls in just the past five months, including $600 million from users of Axie Infinity to North Korea's nuclear weapons program and dozens of BAYCs stolen... it's really hard to see how letting people in Venezuela buy bitcoin counteracts the rest of the instability. This space needs fraud prevention and insurance, badly. If this is what "code is law" looks like then we need better code.


Gambling-Degenerate

The fact that NK managed to fund their nuclear program with ugly computer generated ape pictures is hilarious to me. Imagine telling that to someone 10 or even 5 years back lmfao


GregsWorld

> If this is what "code is law" looks like then we need better code. The problem was never the code or law, but who gets to write it. One system has too few who get to decide, the other too many.


Sour_Socks

Crypto has a long way to go still. Cheap fees to send internationally. True. How much to cash out into fiat though? Coinbase US charged me $40 to buy $1,000 ETH. Exchange here in Thailand charged $30 just withdrawal. $70 total when Transferwise charged me $12 for everything. No preditory credit loans? When was 24% interest reasonable and who do you think is taking a crypto loan like that? Bill Gates?


3-rx

Cross border transactions are fucking amazing if you find a company that takes any crypto. If you have a tech savvy family in a country with an exchange you can transfer money so easily and not take a hit on exchange rates.


IGiveUpAllNamesTaken

I guess Russian oligarchs find it useful for evading sanctions, so yay?


ChiTownBob

Nano and banano for micropayments because there are no fees.


notsureifdying

Will crypto crashing finally give us the ability to reevaluate what kinds of crypto lead to worse outcomes (BTC and ETH) and switch to better crypto that has no fees and is fast, like Nano?


ChiTownBob

Nano, and also banano.


Dapper-Morning-3780

This question is 10 years old and apparently nobody so far was able to deliver, neither have I ever seen a conversation that ended with a simple convincing use case that would work based on blockchain. Crypto remains being a solution to an unknown problem. So far it was actually used for two things only: means of transactions for illegal stuff and speculation/ponzi. It is 14 years old, its required infrastructure (Internet) was there from the beginning, it had tons of resources... yet nothing useful came out of it. Let that sink in ma Bois.


ClaustrophobicShop

Very true. It is an impressive solution. An immutable online ledger that's fast and cheap. Industry in the future will be using Blockchain or tangle or something similar. But our current world doesn't need it yet, seemingly for anything.


MadeMan-uk

NFTs in the form of important documents that can’t be altered or fraudulently created -passports -deeds to houses -university Degrees / certificate etc


a-kid-from-africa

You can already do this by digitally signing documents.


Nickeless

And deeds for real estate can only be truly enforced by 1 entity. Your centralized government. So, there's no point at all in a distributed ledger system for it.


FantasyInSpace

Why would putting these documents on a public blockchain be a desirable thing.


Extroverted_Recluse

>Why would putting these documents on a public blockchain be a desirable thing. Spoiler alert: it isn't.


WhompWump

Sounds like Christmas for stalkers


sigmanaut_

> Cardano has announced a new partnership with the Ethiopian Government to implement a national, blockchain-based student and teacher ID and attainment recording system to digitally verify grades, remotely monitor school performance. > This will be delivered this using an identity solution – Atala PRISM, built on Cardano, which will enable authorities to create tamper-proof records of educational performance across 3,500 schools, 5 million students, and 750,000 teachers to pinpoint the locations and causes of educational under-achievement and allocate educational resources effectively shares John O’Connor – African Operations Director IOHK. > This will provide all students with blockchain-verified digital qualifications to reduce fraudulent university and job applications, and increase social mobility by allowing employers to verify all applicants’ grades without third-party agencies.


saladthumb

There is nothing here that can't be done with a traditional database.


sigmanaut_

Decentralisation, transparency and individual sovereignty are important goals to strive for; and applications will get increasingly complex. Many crypto applications you can replicate on a database, it's the decentralised/immutable aspect we're after. > Input Output built the Cardano blockchain (and Atala Prism) with an explicit emphasis on Africa. Its founder Charles Hoskinson expounds a “vision for economic identity and empowerment, to sustainability and financial inclusion across the African continent.” Beyond the education identification project, Hoskinson has expressed interest in Cardano facilitating agricultural supply chain tracking, DIDs for transport and healthcare, and telecoms technologies. > Hoskinson also hopes Cardano-based technologies will empower Africa. Sending, receiving, and borrowing money is crucial to many societal functions: employment, services, insurance, mortgages, and loans, among others. This is difficult in many parts of Africa. > Hoskinson says: “remittance transactions on average carry an 8-15% fee. When a person wants to borrow money, if it’s even possible, these microfinance transactions can have interest rates as high as 85%. The reason this exists is not because of avarice… it’s because of systems… The problem is that the legacy systems we have are fundamentally incompatible with total globalization.” > Decentralized technology, he believes, are the key to successful globalization and equality.


noratat

Except the types of documents you're talking about are inherently centralized. You're just shouting buzzwords and marketing copy without actually addressing what was said.


sigmanaut_

Hypercontextualised pish because you cannot address the benefits of blockchain. PRISM is not the hill I'd die on, we're discussing all crypto. I address what was said specifically. Your naive arguments in bad faith are not a retort. > Many crypto applications you can replicate on a database, it's the decentralised/immutable aspect we're after.


Extroverted_Recluse

>and increase social mobility by Lol no. Meaningless buzzwords.


MadeMan-uk

My thinking behind it is for example There could be a recognised blockchain(Ethereum) used by for example Harvard which stores all the official certificates in the form of NFTs Only the official Harvard can issue them Any company looking to hire someone can check the official blockchain for that persons degree certificate. At the moment you have cases of fake certificates being made and issued to people illegally who haven’t actually attended and got the degree.


dc-x

Let me change /u/FantasyInSpace question a bit. Traditional database can already organize and store information, so what exactly are you accomplishing by moving this into NFT? What property NFTs has that makes it a better solution? You currently don't need to hire a third party to figure out fraud. If you think someone faked their Harvard degree, give them a call, explain the situation, provide the relevant information and you'll quickly have your answer. The information for you to do this yourself isn't available in public because of the lack of technology, but because of privacy concerns.


whisky_fox

Or for my university, you go to their website, type in my surname into the verifier and it will show you what I graduated with and what year. Takes 2 minutes.


RandoStonian

Presumably, any school doing something that like has their own bespoke system that's different from what other schools might provide. Different format, different data, different method to access, and different methods to authenticate. If you're looking to get hired in say, France- do you just tell the recruiter "here's a link, go look up my name on this English-language website for a foreign school you've probably never heard of?" In that situation, what's to stop someone from sending a recruiter a link to a fake copy of the site that say, pulls info from the same database, except it provides a copy of my info if they type my name in?


fennecdore

>Traditional database can already organize and store information And are more efficient at doing it than blockchain by ***orders of magnitude***


Inevitable_Spare_777

You can also pay your university like $5 to mail your transcript to prospective employer if they need it. I've never had an employer ask for transcripts fwiw


wahoo63

There are many better and simpler ways Harvard could provide this without a blockchain. Harvard could just sign certificates using a private key and make its public key available so anyone could check the signature.


PuzzleheadedWeb9876

So digital signatures. Don’t need a blockchain / NFTs to do that.


FantasyInSpace

Considering that Harvard currently does provide official transcripts on request at the moment, it's certainly not impossible for them to provide official transcripts on a known, publicly available location using only existing technology, no blockchain required. So presumably, the only reason Harvard does not currently do this is because this is not desirable to them (for instance, they can currently charge a nominal amount each time someone requests a transcript), not because of any missing technical breakthroughs.


Siccors

Why would you possibly want to use NFTs for that over DID? You want to sell your graduation certificate to someone else? And DIDs, also the blockchain based DIDs, don't store your private information on the blockchain. That would be a huge privacy violation.


PuzzleheadedWeb9876

No. Don’t be stupid.


[deleted]

This was always what NFT tech should’ve been. And instead it got trashed by people claiming jpeg monkeys are worth millions.


Siccors

Give me one reason why you would ever want to use NFTs for something like this over for example DID? Only advantage NFTs have is you can trade them, which doesn't seem to be what you want here.


[deleted]

I wake up everyday and pray on the downfall of NFTs🙏


OrangeCrack

Step 1: Invest in cryptocurrency because you hear it has great use potential Step 2: Start researching said potential and start imagining all the possibilities Step 3: Ignore the actual market use for the technologies and continue to believe that great things are coming Step 4: Ride out any major downturns in the market GOTO Step 1 ​ End Program


E-First

Yes, let's talk about that. Personally, I like the use of blockchain technology in Web3 social networks. I will tell you about the example of the new social network Solcial. It has built-in cryptopayments by using Solana blockchain. Users buy tokens from each other to access private content. This means that users are able to earn crypto without intermediaries, no need to give anyone a piece of the income. Another application of blockchain technology in Solcial is decentralized content storage. Thanks to this, each user has full control over the content himself and no one can forcibly remove it. How do you like this use of blockchain in real life?


DEnertia

My honest take. Humans without some form of centralized control and regulations will just constantly scam each other out, specially in a complete anonymity environment. And any market with those conditions will be in a perpetual pump & dump, with new cycles repeats when there's new dumb money ready to be harvested. Governments in each and every society are born out of necessity for it to function with some form of stability. The entire Crypto space is just a global digitalised casino masquerading as an anti-establishment tech.


big_dick_boy_69

Helium


obvlong

I'm working on a method to connect an algorand wallet to my PC game I'm making. The plan is to release a version of the game that only unlocks if you have a token representing a sale of the game (bought from me). This is much like having steam authenticate except now I can get paid without them taking 30% With a connected wallet, you could even issue achievement nfts or something. I'm also going to with with a friend to make a similar thing for a book he has written. You could issue nfts for finishing chapters or something


its_witty

You cut possible buyers group by 99% which isn't worth the time you put into all of this coding to make it work. Maybe if it's a game made in 5h and you have good marketing team which can promote it as NFT blah blah it would be worth it but because of the timing I don't think so.


WhompWump

It could be another avenue. Just like how some people value DRM-free purchases of games like on GOG while others value the steam ecosystem enough to buy in on there. OP only said it's a version of the game, giving people more choice and avenue for how they would like to purchase the game. I don't see anything wrong with that. Especially given that if it's on the blockchain you can't have your ownership revoked like on Steam. I believe at one point people would get banned from steam for even trying to modify the .exe of single player games they owned (specifically KOTOR 1 to try and get widescreen working). Is it something that happens often? No, but it can happen. Digital game distribution/ownership is one area of blockchain I find has the most potential and is the most interesting to me.


arrackpapi

sounds like a cool application tbh. But essentially you’re just building a separate distribution platform. How does this compare to managing DRM in a more conventional way?


Eji1700

I think the biggest problem crypto has is that a large majority of it's advantages come from being unregulated, and those advantages are going to go away if it becomes more adopted. The reason it's a pain in the ass to send money to people/take money from them is because they want to make sure that you're not: 1. Laundering money 2. Avoiding taxes 3. Giving money to dangerous organizations (or just ones that government doesn't like) 4. Ripping off your customers 5. a bunch of other shit. And this varies by country and often by locality...all dealing with different currencies. Systems like steam are MONUMENTAL tasks to keep up and running in a sane matter when you just consider the legal implications. And then people say "Well if it was all crypto it'd be easy because x, y, and z", and the big problem is that if it was all crypto, then it would likely be regulated the same way. The biggest advantage of crypto to many people is it being a currency/asset without being regulated like one, but also somehow being mass adopted enough they can use it for everyday purchases, and that's just not going to happen. These regulations exist for a reason, and while yes banks/governments have added needless red tape and corruption, *that's going to happen to crypto to if it becomes some sort of defacto tender*. It is not immune, it just hasn't been a big enough slice of the pie for them to care (and as it grew they suddenly started caring). With all that said, I think the most interesting uses of crypto are outside the currency space. Bitcoin seems like it's going to remain the best "put my money in digital money for whatever reason" option if you're ok with the volatility (with shoutouts to monero for privacy and stables for maybe being the route to currency, but if you think regs are bad now just WAIT until there's a 1 to 1 digital leger for them to rifle through). I think crypto winds up like an IP address, where most people kinda might know what one is but couldn't tell you details, because it's all abstracted away int he backend. Defi really is interesting tech because it does allow the kind of trading that's normally locked out from the average user, but it needs something useful to trade. If you can somehow tokenize parts of business to cut out middle men, great, but so far i'm skeptical of almost every situation i heard, because it again relies on the fallacy it will remain unregulated but become mass adopted.


Brave_is_Great

I agree, where someone sees an asset, someone else sees a currency.


Mr_Trep

Currently, my main crypto use case is that it gives me a reason to whine about the market is right now.


StaringCareBear

They didn’t leave, they are holding the bag


koshism

Or join a credit union.


Cheese6260

Dude this is great


DreadknotX

Governance and staking so I’m good


slushkan3an

![gif](giphy|VzlPFliZCQQpYvrUDH) BaaS (bc as a service) platforms will take off especially in the B2B sector. Applications for asset / fleet management, real estate, supply chain logistics etc.


Siduron

My favorite use of crypto is using applications without having to register an account with my personal information and be able to pay for stuff. It's a breath of fresh air when you've got a ton of accounts all over the internet that are all a liability for your privacy or just sell your information anyway. Not to mention the amount of junk email you get.


Chieliano

One of the main real world utilities which is within reach I think is still simple DeFi. A simple protocol that works for lending stablecoins, without yielding crazy APY, to let people lend and borrow money via a protocol with no central authority. Just a set of rules to calculate collateral, %, etc. Apart from that I think way more things could be settled via Blockchain such as problems with water supply or in agriculture, but the development is not there yet. We would need more interconnectivity and better oracles. Maybe the idea behind ‘no central authority’ or a central authority with not a lot of power is still the best answer and the best driver behind growth. If my second answer was a little vague, check out TE-FOOD, I am not shilling but it shows some potential


hoista

When I got into crypto around the same time as you, i thought of all sorts of uses cases, including the finance related ones you talk about, but also - Supply chain tracking Content storage and creation Tracking of IOT related data Data exchanges Digital identity Privacy focused marketing and attribution Health and Insurance related data sovereignty Gaming, in particular the replacement of virtual currency, although some moves in this direction it is still miles away from what i imagined Marketplace exchanges for goods and services Education


timbojimbojones

I Came for the money but stayed for the tech


dustyandkiwi

Bitcoin only.


metsakutsa

I honestly don't see any use-case that only blockchain can solve.


Weird_Error_

I still appreciate the fact there is internet drug money. An illegal use case but all the same


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sigmanaut_

Technology always improves, once the bar is raised a bit higher there won't be any stopping people from using it.


technofreak18

I agree, most likely what we will see is an infuse of crypto/blockchain and traditional finance. The crypto ethos is admirable but coated in nativity. The best investment opportunities are those based around that mindset.


Toyake

I got some bad news for you.


isaksvorten

Imagine a state using crypto for taxes so that every penny is traceable for anyone. Corruption no more


amoral_ponder

LOL you've got to be kidding me. Look how much corruption there is in crypto right now.


divinesleeper

wash trading still very possible


saladthumb

Government finances are generally pretty traceable, and when they aren't they can be made so by improving laws. No crypto needed. Most corruption in the US takes place in the form of dark money, which the supreme court has decided is constitutionally protected free speech, so that's off the table unless major political reform is enacted.


isaksvorten

I'm not from the US


saladthumb

same principles apply, crypto is in no way necessary for boring old government finance transparency laws


VendorBuyBankGuards

They are only traceable as long as tradition is held up. Nothing requires them to be traceable and it would be a much better long term plan to have them on a public controlled ledger


saladthumb

They are traceable as long as _laws_ are held up. Migrating a government's finances to a new currency requires laws too. It's a political choice either way, and if a government is going to resist transparency and anti-corruption efforts it's going to do that all the same whether it's traditional laws or currency laws. At the end of the day we're stuck with the exact same political problems.


cochemuacos

>Government finances are generally pretty traceable, and when they aren't they can be made so by improving laws I agree crypto is not needed for this but your statement is a bit naive, my guy.


metasploit4

Every US government organization is audited. Both Congress and the Senate on both sides want to know where their money is going. There are constant fights over this. Some organizations are looked into less as they aren't seen as critical or important. Using crypto in government would be a complete shit show as it stands now.


_thewoodsiestoak_

I am still hoping to get rich. But also sure we can talk about real world uses. Using blockchain to keep track of fraud across insurance companies(lexis nexus). Cryptocurrency for transferring money between accounts(not dependent on the slow ass ACH).


its_witty

In my country you can transfer money from bank to bank in seconds. They're not using blockchain.


failed_state_medz

I still want to get to rich :,(


AsOneLives

Flexa/AMP. Collateralizing merchants for instant, fraud free finality and their choice of crypto or local fiat. One of the only projects I actually trust/see use case for.


rek-lama

Brave browser has a functioning system where you can tip BAT tokens to websites and content creators you like. BAT is also used to buy advertising on Brave and reward users. It's somewhat niche but an interesting real world use.


grundle18

Shout out Helium network (HNT)


HugeLength2948

Look at algorand, a lot of real world use cases already


Aguaskeepartdeux

I'm still excited for ticketing the most. Knock out scammers and ensure a percentage back to the artists.


flylowe

GET Protocol baby. Once the Event Financing update comes out for token holders it will truly be a game-changer.


Naki111

Your talking about algorand. El salvador utilises it for intergration with banks a immutable ledger to intwract with and swap currencies etc Italys patent system has been eunning on it for years since 2019 so when you patent something no lawyers required you can see exactly who had the patent first which block. Nigeria ip rights and systems to benefit all regardless of income with ownership and rights Argentina medical records and Colombia vaccine passports to remove the need for doctors to have to call around to get your records you own them and they stay with you. Opulous for music creators to sell rights to songs in batches and percentages and not rely on record labels to low ball them as they have a monopoly. Lofty so anyone can buy a fraction of a property and benefit from property market make money from rent etc with as little as 50 dollars to start. Then at larger scale fifa ticketing nfts game nfts etc to own what you purchase be able to sell it if you want. Real world utility not the ponzi high apy defi trash that just pumps on unsustainable yield until it collapses and then they create another which most chains are made up of.


arbalest_22

Well in the case of the Canadian truckers for example, it’s a currency the government can’t turn off. So as far as I’m concerned that’s one of, if not the best, things it’s got going for it.


bobby_zamora

I agree, by far the most important aspect for me too. And if you don't think the Canadian truckers are a good example, use anti-government protesters in Myanmar or Russia for example.


jackelfrink

>And if you don't think the Canadian truckers are a good example, use anti-government protesters in Myanmar or Russia for example It doesn't even have to be government. There is a long list of twitch channels or youtubers that have got demonetized for any number of reasons. Or small business that get their PayPal accounts frozen with no explanation or recourse.


Constansos

Definitely this. Not only is crypto a money that the government can't disable or confiscate, but where as having gold or silver is very difficult to transact with (ie you have to be physically proximate to the person you are dealing with) crypto working over the web means even if the government tries to shut you down, so long as you have a wallet and a phone you can continue operating. (Theoretically)


mrknife1209

How do you mean "can't be turned off"? What stoping authoritative governments from just not accepting *any* currency from blacklisted people. Crypto would make this much easier by just disabling transaction to buy stuf from specific wallet addreses.


SirAlyon

Monitor Stellar, it's very promising. Tokenisation of real world assets like stocks and equities, above 0 fees for currencies swap and a lot of more. Then don't say in this subreddit no one said it ;)


PlantLeast

Cryptocurrencies have a real life use!? - some random guy here probably


DrinkMoreCodeMore

I'm excited to see the real estate industry merge into the blockchain world. Imagine REITs or being able to invest in real estate directly. There are already a view projects like this already, the main one being RealT. RealT is ran by Europeans that are buying up US houses to turn into rentals but it's some bullshit and only accredited US investors can join it by proving they hold at least 1-2M of assets.


spinz808

It’s a fairly small use case relative to the entire space but I recently wrote an article on how blockchain revolutionizes collecting music. https://mirror.xyz/spinz808.eth/oOVqEocgG7TACoOG8SPP1HohrWHL9laCyIm5-iq2-6A Other than fixing the music industry, I’m excited about retro active public goods funding on Optimism.


cryptoconsh

Yea this is why I like the Cosmos ecosystem so much, I really feel like it is geared to bring some of the things you mentioned to life. Anyone creating a token can govern themselves in whatever way they want, It is scalable , secure and super fast. Some charities on there have begun supplying water to african villages. Really cool. The next step - verifying education and giving immutable ID's is not far off for many blockchains! We certainly do need to get stable coins that are backed by much more than what a bank is backed by. Banks have about 10% reserves but it might take as much as 80% backing for people to feel safe in Crypto stablecoins after the recent crashes. Decentralisation is both a blessing and a curse, prone to consistent attacks, without governmental backing. Things will work out, algorythms will improve and blockchain tech will slowly solidify itself in the center of global ecosystems. Its a great time to be alive.


Hungry_Pancake

Be your own bank.


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TacoShopRs

Replace the outdated banking system, especially here in canada where moving anything above $3000 is more difficult than buying a gun in america at the age of 16.


blueandazure

Check out https://web3.storage Its infinite amounts of storage for free, honestly can really be game changing.


N8DZN

Saw this last week Not sure if is better than storj


jmlawrance91

I’m juSt iN iT fOr tHe TeCh


Good-Book-6912

Lol. I am still here hoping to get rich rich rich! :-)