lol: blockchain - yes; bitcoin - no

[Amph]

Yeah, thats what Monero fanboys (or some of them) seem to not get. Monero will never be as big (let alone bigger, lol) than Bitcoin. Why? its simple, its super anonymous-only features give no chances at being transparent. This kills a large base of users and uses. Plus Bitcoin is king in all that matters: network strenght, adoption, network effect in general... which is all that matters, even more than who has got the best-ever technology.

Also, what people do not realize that if Bitcoin was completely anonymous it would have never been legalized. I'm pretty sure that even if Monero grows, it is going on the black list pretty quick (unfortunately).
I'm not saying that this will kill Monero, but it is definitely going to prevent it from taking a grasp at a larger user base.
However, Bitcoin seems to be in the middle of everything. It is partially anonymous, not too fast, not too slow; with a few upgrades here and there it could be considered almost perfect (for our time).  

Monero/DASH/insert anon coin may not be as relevant in the "real" world, but it could revolutionize the way money laundering, tax evasion, hiding assets, black markets etc work. So it might have a much smaller userbase, but all of those are potentially trillion dollar markets.

I don't see Monero succeeding if bitcoin fails. But if bitcoin goes mainstream, and people start to readily accept non-government backed online currencies, then I believe it is inevitable that such activities will also move to crypto; and it will be an anon coin rather than bitcoin.

black listed or not, those coins will find always a use for some people, they are here to stay no matter what happens to bitcoin, because they offer something that for someone is valuable a lot and that bitcoin does not serve in a successful way, privacy and anonymity

those coins can become obsolete only if sidechain will promise the same anonimity via zerocoin or darkwallet

[Lauda]

Monero/DASH/insert anon coin may not be as relevant in the "real" world, but it could revolutionize the way money laundering, tax evasion, hiding assets, black markets etc work. So it might have a much smaller userbase, but all of those are potentially trillion dollar markets.

I don't see Monero succeeding if bitcoin fails. But if bitcoin goes mainstream, and people start to readily accept non-government backed online currencies, then I believe it is inevitable that such activities will also move to crypto; and it will be an anon coin rather than bitcoin.

I really don't care about things that are going to revolutionize illegal actions and neither should you. It wouldn't surprise me if something bad happens related to Monero or DASH and the US goes after its creators. We have way too many coins as it is now. If everyone who ever worked on altcoins or contributed to them had done that to Bitcoin only, we would already be living in the age of digital currency.
They're just leeching off of Bitcoin, nothing else.

black listed or not, those coins will find always a use for some people, they are here to stay no matter what happens to bitcoin, because they offer something that for someone is valuable alot and that bitcoin does not serve in a successful way, privacy and anonymity

those coins can become obsolete only if sidechain will promise the same anonimity via zerocoin or darkwallet

Good luck avoiding legal actions against you for using them. Sidechains aren't designed for anonymity, but for transaction scale-ability. They just supposed to exponentially increase the amount of transactions that the network can handle. However, there could be some anonymity involved when exchanging BTC -> Sidechain -> BTC.

[bitcart]

I understand what you mean OP. "blockchain" has become a buzzword now and meaningless like the word "disruptive". I believe that people who are dismissive of bitcoin and favour blockchain probably know little about either of them.

I do believe that blockchain will outlive bitcoin though. there is more uses for it than a single currency.

[everaja]

I think blockchain is the most Popular wallet for newcomers and for old trendy guys , even i use blockchain wallet , the things is that its much easy to get one wallet and it even works on 25Kb/s internet speed.
I think blockchain wallet will be enchanced in future to beat new ones ,  Legends are Legends !

[lorylore]

I think blockchain is the most Popular wallet for newcomers and for old trendy guys , even i use blockchain wallet , the things is that its much easy to get one wallet and it even works on 25Kb/s internet speed.
I think blockchain wallet will be enchanced in future to beat new ones ,  Legends are Legends !

Personally i use coinbase, but since i have a good interenet connection i havent tested it yet in a slow connection if it is fine.
But would like the blockchain itself to be updated soon.

[TrueBeliever]

This is the third story today by someone who asserts their brilliance by saying: "we are interested in blockchain; bitcoin not so much".  It is meant to show you are a bigshot if you can put forth another version of this over-used line.  
Here is one: http://www.cityam.com/220231/why-i-chose-float-fintech-business-london

Here is another: c-touts-blockchain-tech-for-trade-finance/

It reminds me of the time an English man was explaining to his son on an airplane that: 'it is the wings that makes the airplane fly'.  I immediately thought - it's the fucking engine that makes it fly - and the rudder too, and the cockpit too, and the pilot too.  Even the landing gear - although I'd have to argue the landing gear makes it fly again.

There isn't such thing as Bitcoin or blockchain.  Bitcoin includes a blockchain and a bunch of other stuff. Go ahead, try to make your blockchain without some bitcoin behind it.  Let's see where that will get you.  

People need to quit showing how smart they are by expressing their keen interest in the 'blockchain' while at the same time saying 'bitcoin' isn't so interesting.  All this really does is show you don't understand cryptocurrency.  There is not blockchain without bitcoin.  

The Blockchain is beautiful technology.  The Bitcoin network is the greatest example of this beautiful technology in action.  However not all applications of the Blockchain will be in the public sphere, for example Western Union might create a Blockchain where their 'Public' ledger is located within their country HQ nodes.  Banks might create a Blockchain for storing customers accounts, the nodes are located in each regional headquarters (or even in each bank branch!). 

The point is there really are good applications for the blockchain outside the Bitcoin network.  We should not feel threatened by these, they are not applications as they are not competing with Bitcoin which is a cryptocurrency in the public domain.

Bitcoin is strong not only because of its network but because its technology has not been disproven.  I personally welcome any private companies investing in R&D in the blockchain as it only benefits us all in the end.

BTW your aeroplane analogy doesn't fly with me, the Bitcoin network could be represented by the the airports and flight routes which you didn't mention, the rest is all part of the Blockchain.

[AtheistAKASaneBrain]

This is the third story today by someone who asserts their brilliance by saying: "we are interested in blockchain; bitcoin not so much".  It is meant to show you are a bigshot if you can put forth another version of this over-used line.  
Here is one: http://www.cityam.com/220231/why-i-chose-float-fintech-business-london

Here is another: c-touts-blockchain-tech-for-trade-finance/

It reminds me of the time an English man was explaining to his son on an airplane that: 'it is the wings that makes the airplane fly'.  I immediately thought - it's the fucking engine that makes it fly - and the rudder too, and the cockpit too, and the pilot too.  Even the landing gear - although I'd have to argue the landing gear makes it fly again.

There isn't such thing as Bitcoin or blockchain.  Bitcoin includes a blockchain and a bunch of other stuff. Go ahead, try to make your blockchain without some bitcoin behind it.  Let's see where that will get you.  

People need to quit showing how smart they are by expressing their keen interest in the 'blockchain' while at the same time saying 'bitcoin' isn't so interesting.  All this really does is show you don't understand cryptocurrency.  There is not blockchain without bitcoin.  

The Blockchain is beautiful technology.  The Bitcoin network is the greatest example of this beautiful technology in action.  However not all applications of the Blockchain will be in the public sphere, for example Western Union might create a Blockchain where their 'Public' ledger is located within their country HQ nodes.  Banks might create a Blockchain for storing customers accounts, the nodes are located in each regional headquarters (or even in each bank branch!). 

The point is there really are good applications for the blockchain outside the Bitcoin network.  We should not feel threatened by these, they are not applications as they are not competing with Bitcoin which is a cryptocurrency in the public domain.

Bitcoin is strong not only because of its network but because its technology has not been disproven.  I personally welcome any private companies investing in R&D in the blockchain as it only benefits us all in the end.

BTW your aeroplane analogy doesn't fly with me, the Bitcoin network could be represented by the the airports and flight routes which you didn't mention, the rest is all part of the Blockchain.

There's no need to invest ridiculous amount of money on your own blockchain if you want a different behavior, you just use side-chains once properly implemented so everything stays within the Bitcoin security.

[TrueBeliever]

This is the third story today by someone who asserts their brilliance by saying: "we are interested in blockchain; bitcoin not so much".  It is meant to show you are a bigshot if you can put forth another version of this over-used line.  
Here is one: http://www.cityam.com/220231/why-i-chose-float-fintech-business-london

Here is another: c-touts-blockchain-tech-for-trade-finance/

It reminds me of the time an English man was explaining to his son on an airplane that: 'it is the wings that makes the airplane fly'.  I immediately thought - it's the fucking engine that makes it fly - and the rudder too, and the cockpit too, and the pilot too.  Even the landing gear - although I'd have to argue the landing gear makes it fly again.

There isn't such thing as Bitcoin or blockchain.  Bitcoin includes a blockchain and a bunch of other stuff. Go ahead, try to make your blockchain without some bitcoin behind it.  Let's see where that will get you.  

People need to quit showing how smart they are by expressing their keen interest in the 'blockchain' while at the same time saying 'bitcoin' isn't so interesting.  All this really does is show you don't understand cryptocurrency.  There is not blockchain without bitcoin.  

The Blockchain is beautiful technology.  The Bitcoin network is the greatest example of this beautiful technology in action.  However not all applications of the Blockchain will be in the public sphere, for example Western Union might create a Blockchain where their 'Public' ledger is located within their country HQ nodes.  Banks might create a Blockchain for storing customers accounts, the nodes are located in each regional headquarters (or even in each bank branch!). 

The point is there really are good applications for the blockchain outside the Bitcoin network.  We should not feel threatened by these, they are not applications as they are not competing with Bitcoin which is a cryptocurrency in the public domain.

Bitcoin is strong not only because of its network but because its technology has not been disproven.  I personally welcome any private companies investing in R&D in the blockchain as it only benefits us all in the end.

BTW your aeroplane analogy doesn't fly with me, the Bitcoin network could be represented by the the airports and flight routes which you didn't mention, the rest is all part of the Blockchain.

There's no need to invest ridiculous amount of money on your own blockchain if you want a different behavior, you just use side-chains once properly implemented so everything stays within the Bitcoin security.

where exactly are the ridiculous amounts of money being spent?  a bank can implement their own blockchain by deploying a server in each region.  they can mine with the server CPU because it is not an arms race to get more hashing power.  with this small Blockchain network they can store all customers transactions in a decentralized and secure fashion.  Remember the 51% attack is based on a percent of hashing power, all bank nodes can mine on CPUs to secure the network like we once did.

I think too many people are fixated on the Bitcoin Blockchain as the solution for everything.  For internal applications where there is no hashing power arms race, creating a new network is a perfectly good application of the technology.

[LiteCoinGuy]

The Blockchain Revolution Gets Endorsement in Wall Street Survey

Bitcoin supporters argue the software that makes the digital currency possible could accelerate trading on Wall Street. A new survey suggests financial-services professionals are on board.

Greenwich Associates found 94 percent of respondents say blockchain -- the ledger that drives bitcoin -- could be used in finance, according to a report to be released Wednesday. The software is touted as a way to speed up and simplify how trades of everything from stocks to loans and derivatives are processed.

...

“It is not bitcoin itself that has the potential for changing the institutional capital markets. The blockchain, the technology that allows bitcoin to exist and be transferred safely without an intermediary, presents a much bigger opportunity for financial services firms.”

http://www.bloomberg.com/news/articles/2015-07-22/the-blockchain-revolution-gets-endorsement-in-wall-street-survey



@TrueBeliever

of course you can do that. it is like an Intranet. alot of companies have Intranets and will have internal blockchains maybe.  

[misterycoins]

What some people don't understand is that the bitcoins are the only incentive to keep the blockchain running. If the bitcoins were not valuable, then no one would "mine" and there would be no more blockchain. For the blockchain to exist, the currency has to exist. It's part of the solution.

[neurotypical]

This is the third story today by someone who asserts their brilliance by saying: "we are interested in blockchain; bitcoin not so much".  It is meant to show you are a bigshot if you can put forth another version of this over-used line.  
Here is one: http://www.cityam.com/220231/why-i-chose-float-fintech-business-london

Here is another: c-touts-blockchain-tech-for-trade-finance/

It reminds me of the time an English man was explaining to his son on an airplane that: 'it is the wings that makes the airplane fly'.  I immediately thought - it's the fucking engine that makes it fly - and the rudder too, and the cockpit too, and the pilot too.  Even the landing gear - although I'd have to argue the landing gear makes it fly again.

There isn't such thing as Bitcoin or blockchain.  Bitcoin includes a blockchain and a bunch of other stuff. Go ahead, try to make your blockchain without some bitcoin behind it.  Let's see where that will get you.  

People need to quit showing how smart they are by expressing their keen interest in the 'blockchain' while at the same time saying 'bitcoin' isn't so interesting.  All this really does is show you don't understand cryptocurrency.  There is not blockchain without bitcoin.  

The Blockchain is beautiful technology.  The Bitcoin network is the greatest example of this beautiful technology in action.  However not all applications of the Blockchain will be in the public sphere, for example Western Union might create a Blockchain where their 'Public' ledger is located within their country HQ nodes.  Banks might create a Blockchain for storing customers accounts, the nodes are located in each regional headquarters (or even in each bank branch!). 

The point is there really are good applications for the blockchain outside the Bitcoin network.  We should not feel threatened by these, they are not applications as they are not competing with Bitcoin which is a cryptocurrency in the public domain.

Bitcoin is strong not only because of its network but because its technology has not been disproven.  I personally welcome any private companies investing in R&D in the blockchain as it only benefits us all in the end.

BTW your aeroplane analogy doesn't fly with me, the Bitcoin network could be represented by the the airports and flight routes which you didn't mention, the rest is all part of the Blockchain.

There's no need to invest ridiculous amount of money on your own blockchain if you want a different behavior, you just use side-chains once properly implemented so everything stays within the Bitcoin security.

where exactly are the ridiculous amounts of money being spent?  a bank can implement their own blockchain by deploying a server in each region.  they can mine with the server CPU because it is not an arms race to get more hashing power.  with this small Blockchain network they can store all customers transactions in a decentralized and secure fashion.  Remember the 51% attack is based on a percent of hashing power, all bank nodes can mine on CPUs to secure the network like we once did.

I think too many people are fixated on the Bitcoin Blockchain as the solution for everything.  For internal applications where there is no hashing power arms race, creating a new network is a perfectly good application of the technology.

Having centralized blockchains is indeed an improvement over what banks have now, but make no mistake, being part of a global decentralized blockchain (bitcoins one aka the best) is even better. Andreas explains it in this video at about the end:

https://www.youtube.com/watch?v=3jqpKEHYGE0

[jbreher]

I really don't care about things that are going to revolutionize illegal actions and neither should you.

Off with your head!* Bitcoin revolutionizes illegal actions -- does it hold your interest?

Any tool can be used for good or for bad. Bitcoin's revolution for good is insuperable from its revolution for bad. The good outweighs the bad, so it is a net benefit to society.

If you cannot see any reason for anonymity other than illegal activities, then you have a very narrow scope of imagination.

* In a tongue-in-cheek Red Queen sense, not in a literal ISIS-like sense.

[jbreher]

I think blockchain is the most Popular wallet ...

The topic is not the "Blockchain Wallet", the product maintained by the people that own the domain 'blockchain.com'. The topic is the Blockchain - the fundamental structure of computer science that sits at the heart of Bitcoin and (almost) all alts, that forms its shared ledger.

[jbreher]

a bank can implement their own blockchain by deploying a server in each region.  they can mine with the server CPU because it is not an arms race to get more hashing power.  

Mmm Hmm. And how, pray tell, will these 'private' blockchains fare in terms of security, when Bitcoin is already secured by the largest application of computing power ever amassed by all of humanity against a single task?

I think the entire 'interested in blockchain, but not Bitcoin' trope will stand some serious revision.

Right now, the banks are making their first furtive steps at acknowledging that this technology will completely turn their world upside down. They've ruled the roost for a century, and are utterly unable to picture a world where they do not get to write the terms. They see the blockchain coming, and their hubris has them imagining that they can divorce the blockchain's benefits from the very thing that secures it.

Which step is denial?

[Amitabh S]

a bank can implement their own blockchain by deploying a server in each region.  they can mine with the server CPU because it is not an arms race to get more hashing power.  

Mmm Hmm. And how, pray tell, will these 'private' blockchains fare in terms of security, when Bitcoin is already secured by the largest application of computing power ever amassed by all of humanity against a single task?

I think the entire 'interested in blockchain, but not Bitcoin' trope will stand some serious revision.

Right now, the banks are making their first furtive steps at acknowledging that this technology will completely turn their world upside down. They've ruled the roost for a century, and are utterly unable to picture a world where they do not get to write the terms. They see the blockchain coming, and their hubris has them imagining that they can divorce the blockchain's benefits from the very thing that secures it.

Which step is denial?

I've also been wondering how these "private blockchains" will work. Are they just centralized database called "blockchain". If there are many players, how do we ensure consensus; how to prevent 51% attack?

[eizh]

where exactly are the ridiculous amounts of money being spent?  a bank can implement their own blockchain by deploying a server in each region.  they can mine with the server CPU because it is not an arms race to get more hashing power.  with this small Blockchain network they can store all customers transactions in a decentralized and secure fashion.  Remember the 51% attack is based on a percent of hashing power, all bank nodes can mine on CPUs to secure the network like we once did.

I think too many people are fixated on the Bitcoin Blockchain as the solution for everything.  For internal applications where there is no hashing power arms race, creating a new network is a perfectly good application of the technology.

The point of hashing and the blockchain is attaining distributed consensus in spite of being open to the whole world. If it's for "internal applications", there's no need for a blockchain. An ordinary database will do and, as a bonus, won't be open to transaction analysis and network attacks like Bitcoin is.

[Lauda]

Off with your head!* Bitcoin revolutionizes illegal actions -- does it hold your interest?
-snip-
If you cannot see any reason for anonymity other than illegal activities, then you have a very narrow scope of imagination.

Wrong. There's a reason for which Bitcoin is pseudo-anonymous and you obviously aren't seeing it. DASH/Monero/similar coins can't become legal and regulated properly because of their anonymous nature.
Also, stop misinterpreting my words.

The point of hashing and the blockchain is attaining distributed consensus in spite of being open to the whole world. If it's for "internal applications", there's no need for a blockchain. An ordinary database will do and, as a bonus, won't be open to transaction analysis and network attacks like Bitcoin is.

Banks get hacked from time to time. I wonder where you came up with the assumption that their distributed ledgers will not be susceptible to attack?

I understand what you mean OP. "blockchain" has become a buzzword now and meaningless like the word "disruptive". I believe that people who are dismissive of bitcoin and favour blockchain probably know little about either of them.
I do believe that blockchain will outlive bitcoin though. there is more uses for it than a single currency.

Here is a nice article that calls the separation ludicrous. Instead of dismissing either, people should be cherishing both blockchain technology and Bitcoin.
Obviously, there are groups that are starting to become scared of Bitcoin as it might harm/destroy their corrupt businesses. However, I do agree that blockchain technology has much more potential than just being used in a currency.

[YarkoL]

To elaborate on that airplane metaphor -
Blockchain is the engine, but network is its wings.

Sure you can produce a new blockchain in a matter of
minutes.. but can you make it fly, that is the question.

What are the incentives for users to run nodes for a
long term? We've seen a lot of planes crash.

   

[thebenjamincode]

the technology and concept about blockchain is very great
and i think bitcoin still lacks some things that's why it is not going too mainstream and

that's why in my opinion why altcoins exists
because they are making coins that has more developed features that bitcoin lacks and does not have

[oblivi]

Off with your head!* Bitcoin revolutionizes illegal actions -- does it hold your interest?
-snip-
If you cannot see any reason for anonymity other than illegal activities, then you have a very narrow scope of imagination.

Wrong. There's a reason for which Bitcoin is pseudo-anonymous and you obviously aren't seeing it. DASH/Monero/similar coins can't become legal and regulated properly because of their anonymous nature.
Also, stop misinterpreting my words.

The point of hashing and the blockchain is attaining distributed consensus in spite of being open to the whole world. If it's for "internal applications", there's no need for a blockchain. An ordinary database will do and, as a bonus, won't be open to transaction analysis and network attacks like Bitcoin is.

Banks get hacked from time to time. I wonder where you came up with the assumption that their distributed ledgers will not be susceptible to attack?

I understand what you mean OP. "blockchain" has become a buzzword now and meaningless like the word "disruptive". I believe that people who are dismissive of bitcoin and favour blockchain probably know little about either of them.
I do believe that blockchain will outlive bitcoin though. there is more uses for it than a single currency.

Here is a nice article that calls the separation ludicrous. Instead of dismissing either, people should be cherishing both blockchain technology and Bitcoin.
Obviously, there are groups that are starting to become scared of Bitcoin as it might harm/destroy their corrupt businesses. However, I do agree that blockchain technology has much more potential than just being used in a currency.

I thought Monero wasn't able to be transparent but I remember reading Monero also had an inbuilt feature to make payments transparent if the user wanted. I think this is a good thing. I don't think Bitcoin the way it is now, would be a good idea to be mainstream, it needs to be more anonymous. Greg Maxwell has commented on this, he said he doesn't want to live in a world with a global transparent ledger, that's why he wants to introduce the confidential transactions BIP. I think he is right, and a global transparent ledger like we have now is NSAs wet dream. We need a more obfuscated way to deal with transactions in a standardized way.