Bitcoin is "outdated", the blockchain is the "new Bitcoin"

[the_poet]

"IT’S ALL ABOUT THE BLOCKCHAIN"

http://moneyandstate.com/its-all-about-the-blockchain/

[Amph]

oh the good old, bitcoin is bad blockchain is good, yet they think about a centralized blockchain, which has nothing to do with the real blockchain

and...a road is useless without vehicles crossing it

[the_poet]

oh the good old, bitcoin is bad blockchain is good, yet they think about a centralized blockchain, which has nothing to do with the real blockchain

and...a road is useless without vehicles crossing it

"Centralized blockchain" sounds like an oxymoron.

[Lauda]

"Centralized blockchain" sounds like an oxymoron.

A centralized blockchain primarily helps the bank or other institutions that plan on using one. The benefit for the consumer is going to be minimum. Bitcoin is a revolution, and no wonder that they're trying to divert attention away from it. If Bitcoin does succeed, a lot of people have a lot to lose. Those are the ones that are fighting Bitcoin.

[bri912678]

There's also an article in the economist about the technology behind Bitcoin. It starts off about Bitcoin, then goes on to explain all about Ethereum and what you can do with it. To be fair there is another economist Bitcoin article on the front page, and the Ethereum one is less prominent, but I'm tired of author's attempting to separate blockchain technology from Bitcoin.

http://www.economist.com/news/briefing/21677228-technology-behind-bitcoin-lets-people-who-do-not-know-or-trust-each-other-build-dependable

[razen489]

it is the beginning of a new buzzword

[the_poet]

"Centralized blockchain" sounds like an oxymoron.

A centralized blockchain primarily helps the bank or other institutions that plan on using one. The benefit for the consumer is going to be minimum. Bitcoin is a revolution, and no wonder that they're trying to divert attention away from it. If Bitcoin does succeed, a lot of people have a lot to lose. Those are the ones that are fighting Bitcoin.

What I love about Bitcoin is that it's basically regular people working for regular people.

[RustyNomad]

A centralised blockchain is nothing more than a database running on modified bitcoin technology.

There will be major benefits for the banks in terms of costs and time savings even when using a centralised blockchain and consumers might see some of this especially on the time savings side, doubt whether actual cost savings will filter all the way down to consumers.

The problem however is that essentially nothing has changed. The bank is still in charge of your money and can do with it what it wants to. You still need to trust the bank whereas with bitcoin you do not need to trust anyone and you remain in control of your own money, you are the bank.

[Q7]

No it's not. Although you are right to point out that the core to everything lies on the blockchain, more or less the technology and bitcoin itself is almost inseparable. I know attempts have been made by banks to utilize the blockchain technology but the idea behind its use still goes back to the decentralized function. That is something what bitcoin is about.

[eyeknock]

oh the good old, bitcoin is bad blockchain is good, yet they think about a centralized blockchain, which has nothing to do with the real blockchain

and...a road is useless without vehicles crossing it

haha i know how you feel, yes, the next step is to create a new coin based on the blockchain technology, yes? oh w8, we already have it and its called BITCOIN!!!

nah, like always, they will never win this game trying to distract people

[dothebeats]

I wonder how a block chain would be possible without bitcoin running/flowing in it? It's like saying a waterfall exists without water flowing in it.

[mexxer-2]

I wonder how a block chain would be possible without bitcoin running/flowing in it? It's like saying a waterfall exists without water flowing in it.

Actually its not, its something like waterfall of alcohol or petrol or any liquid, blockchain is just a record of transactions , Altcoins have blockchain too. In a way I'd consider bank's blockchain similar to an altcoin's .

[dothebeats]

Yes I know that, but the ledger itself is made up of continuous transaction to be recorded in a single chain. Idk how the banks would actually do it with only bank tx. Altcoins on the other hand, are just variations of bitcoin's original code, so the idea of bitcoin and blockchain are still there but with just another 'flavor'.

I wonder how a block chain would be possible without bitcoin running/flowing in it? It's like saying a waterfall exists without water flowing in it.

Actually its not, its something like waterfall of alcohol or petrol or any liquid, blockchain is just a record of transactions , Altcoins have blockchain too. In a way I'd consider bank's blockchain similar to an altcoin's .

[CoinSkipper]

But..  Bitcoin IS the blockchain. The blockchain is just a register of bitcoin transactions. Nothing that special.

[Pierre 2]

This guy is somekinda right in his points. He warns that banks may borrow blockchain technology while living btc money behind.
He still favors btc's freedom and I agree.

[the_poet]

But..  Bitcoin IS the blockchain. The blockchain is just a register of bitcoin transactions. Nothing that special.

But the logic behind the blockchain could have much more applications beyond bitcoin. Virtually every single thing that currently relies on a centralized system to work could use the blockchain.

[Mickeyb]

The poor people don't know how to fight us and the,  don't really want to join us since this would mean surrendering some of their control to the people so they decided to play this kind of game, Bitcoin is bad blockchain is good.

Really screw them. Let them do and say whatever they want. We need to keep working hard and improving our product and we will see who the people will choose in the end.

[bri912678]

Yes I know that, but the ledger itself is made up of continuous transaction to be recorded in a single chain. Idk how the banks would actually do it with only bank tx. Altcoins on the other hand, are just variations of bitcoin's original code, so the idea of bitcoin and blockchain are still there but with just another 'flavor'.

I wonder how a block chain would be possible without bitcoin running/flowing in it? It's like saying a waterfall exists without water flowing in it.

Actually its not, its something like waterfall of alcohol or petrol or any liquid, blockchain is just a record of transactions , Altcoins have blockchain too. In a way I'd consider bank's blockchain similar to an altcoin's .

Blokchain tech is a flavor of the month buzzword for the banks, and I think their chairmen don't understand it but pay teams to research it because it's the flavor of the month. By next year they will probably stop funding research, drop it, and pounce on the next flavor of the month tech. Bitcoin was invented to take power from banks, not help them.

[OrientA]

There is no problem that banks or other organization use blockchain. Bitcoin is money, it will not be outdated.

[AtheistAKASaneBrain]

Did you guys the read the article? He is actually making fun of the banking industry and pretty much every other idiot that is claiming that Bitcoin is irrelevant and that the technology will get used by these banksters for their own benefits (without the necessary token that makes an actual blockchain work). Erik does an excellent job in pointing out this idiocy on his article. When people wake up from this, we'll see the biggest bull rally mankind has ever seen. When it "clicks" inside a person's brain why Bitcoin is important, there's no turning back.