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Title: [2016-08-18] bloomberg.com] Man Who Introduced Millions to Bitcoin Says Post by: eye4bd on August 18, 2016, 06:15:47 PM Man Who Introduced Millions to Bitcoin Says Blockchain Is a Bust
Stefan Thomas, who introduced millions of people to bitcoin, has had a change of heart. Blockchain, the ledger software that makes the digital currency possible, is too rigid to gain wide adoption, he wrote in an essay titled “The Subtle Tyranny of Blockchain.” The technology’s backers think it can revolutionize a wide range of industries including finance, international trade and health care. But tweaking the software -- as will inevitably be necessary as pioneers bring it to new areas -- requires consensus from a huge collection of software developers and so-called miners who make up the bitcoin network........ http://www.bloomberg.com/news/articles/2016-08-18/man-who-introduced-millions-to-bitcoin-says-blockchain-is-a-bust Title: Re: [2016-08-18] bloomberg.com] Man Who Introduced Millions to Bitcoin Says Post by: Carlton Banks on August 18, 2016, 11:53:34 PM Who? Never heard of him
Title: Re: [2016-08-18] bloomberg.com] Man Who Introduced Millions to Bitcoin Says Post by: richardsNY on August 19, 2016, 12:04:15 AM Man Who Introduced Millions to Bitcoin Says Blockchain Is a Bust Stefan Thomas, who introduced millions of people to bitcoin, has had a change of heart. Blockchain, the ledger software that makes the digital currency possible, is too rigid to gain wide adoption, he wrote in an essay titled “The Subtle Tyranny of Blockchain.” The technology’s backers think it can revolutionize a wide range of industries including finance, international trade and health care. But tweaking the software -- as will inevitably be necessary as pioneers bring it to new areas -- requires consensus from a huge collection of software developers and so-called miners who make up the bitcoin network........ http://www.bloomberg.com/news/articles/2016-08-18/man-who-introduced-millions-to-bitcoin-says-blockchain-is-a-bust The financial industry and other major industries aren't interested in Bitcoin's block chain as they can't have any control over it. If they at some point in the future decide to implement their own version of the block chain, a so called private chain, then there is no need for any consensus as they can make changes at any time. Title: Re: [2016-08-18] bloomberg.com] Man Who Introduced Millions to Bitcoin Says Post by: aigeezer on August 19, 2016, 02:32:18 AM Who? Never heard of him CTO of Ripple, apparently: https://www.crunchbase.com/person/stefan-thomas Is Ripple still a thing? ;) Title: Re: [2016-08-18] bloomberg.com] Man Who Introduced Millions to Bitcoin Says Post by: Carlton Banks on August 19, 2016, 12:10:26 PM Who? Never heard of him CTO of Ripple, apparently: https://www.crunchbase.com/person/stefan-thomas Is Ripple still a thing? ;) All becomes clear. The high consensus threshold required to change major aspects of Bitcoin is a Feature-not-Bug kinda situation. It (very effectively) prevents pernicious changes to Bitcoin that threaten it's future in some way. There exists a great deal of will to keep the worldwide currency monopoly running out of Basel Switzerland, as Bitcoin and it's proponents never asked permission to join the club. The currency cartel seemingly haven't got any effective tool to neuter Bitcoin with, they would have used it by now (as they have done in the past). With the possible exception of journalistic hit-pieces, like this one. If that were the case: Who's the "Master of the Universe" now? Reminds of Jamie Dimon's famous quote: "Bitcoin is trying to eat our lunch", spoken at the 2015 Davos conference, no less :D Title: Re: [2016-08-18] bloomberg.com] Man Who Introduced Millions to Bitcoin Says Post by: TraderTimm on August 19, 2016, 04:41:18 PM Every time someone from Ripple opens their mouth, you better believe bullshit is soon to follow.
Their pre-mined centralized bank-friendly nightmare of a coin is a cancerous boil on the blockchain landscape. How they even think they are relevant is just an indication of how stupid they are. Go in the back of the line, Ripple, just behind Doge and the gang. They're not even near the failed ETH/DAO experiment as far as the fail-scape queue is concerned, lol. Just tired of banking-suckups pretending they know what is best for the true free blockchain. Title: Re: [2016-08-18] bloomberg.com] Man Who Introduced Millions to Bitcoin Says Post by: Karartma1 on August 19, 2016, 05:38:00 PM Every time someone from Ripple opens their mouth, you better believe bullshit is soon to follow. Their pre-mined centralized bank-friendly nightmare of a coin is a cancerous boil on the blockchain landscape. How they even think they are relevant is just an indication of how stupid they are. Go in the back of the line, Ripple, just behind Doge and the gang. They're not even near the failed ETH/DAO experiment as far as the fail-scape queue is concerned, lol. Just tired of banking-suckups pretending they know what is best for the true free blockchain. Anybody heard of Corda? http://r3cev.com/blog/2016/4/4/introducing-r3-corda-a-distributed-ledger-designed-for-financial-services So curious to see where it is going to land. It's funny that the unknown Satoshi was able to create something like Bitcoin for free and this multi-million consortium is still trying to find a way to tweak the "blockchain" their way! Title: Re: [2016-08-18] bloomberg.com] Man Who Introduced Millions to Bitcoin Says Post by: Carlton Banks on August 19, 2016, 07:34:12 PM It's funny that the unknown Satoshi was able to create something like Bitcoin for free and this multi-million consortium is still trying to find a way to tweak the "blockchain" their way! lol, +21,000,000 |