$1.4 Billion Invested in Bitcoin & Blockchain Investments

[Posternut]

Leading PricewaterhouseCoopers (PwC) executive Seamus Cushley says $1.4 billion has been invested in blockchain startups so far this year. Cushley, director of fintech and digital at EMEA, will discuss blockchain’s evolution on November 8 at PwC’s Business Forum in Dublin.

https://news.bitcoin.com/1-4-billion-invested-blockchain-pwc/

[QuestionAuthority]

Blockchain technologies ≠ Bitcoin

Just the opposite, development of commercial Blockchain use, especially by mainstream banks with fraud protection, will most certainly end any public desire for Bitcoin. Why would you use Bitcoin when you can have a professionally developed system that's automatically fully integrated into society?

Current Bitcoin devs can't rapidly solve the growing pains of Bitcoin. If some well financed company like Chase bank or Wells Fargo decided to throw money at "Blockchain Technology" it sure as hell wouldn't take a couple of years to solve the block size issue.

Bitcoins continued success still relies on young people (broke people) wanting to mine free money from the internet. How survivable will Bitcoin be in ten years when that's no longer possible?

[chrisevans]

Blockchain technologies ≠ Bitcoin

Just the opposite, development of commercial Blockchain use, especially by mainstream banks with fraud protection, will most certainly end any public desire for Bitcoin. Why would you use Bitcoin when you can have a professionally developed system that's automatically fully integrated into society?

Current Bitcoin devs can't rapidly solve the growing pains of Bitcoin. If some well financed company like Chase bank or Wells Fargo decided to throw money at "Blockchain Technology" it sure as hell wouldn't take a couple of years to solve the block size issue.

Bitcoins continued success still relies on young people (broke people) wanting to mine free money from the internet. How survivable will Bitcoin be in ten years when that's no longer possible?

I see your point on certain aspects, but surely using the banks method takes away one of the fundamental USP of Bitcoin, decentralisation.

[Wind_FURY]

Blockchain technologies ≠ Bitcoin

Just the opposite, development of commercial Blockchain use, especially by mainstream banks with fraud protection, will most certainly end any public desire for Bitcoin. Why would you use Bitcoin when you can have a professionally developed system that's automatically fully integrated into society?

The people in the darknet market would prefer to use Bitcoin, so will the ransomware hackers, etc. There are also other niches where the underserved and the unbanked will prefer to use Bitcoin or because they have no choice. Bitcoin is serving and will be present in markets where the banks do not want to go into.

Current Bitcoin devs can't rapidly solve the growing pains of Bitcoin. If some well financed company like Chase bank or Wells Fargo decided to throw money at "Blockchain Technology" it sure as hell wouldn't take a couple of years to solve the block size issue.

Bitcoins continued success still relies on young people (broke people) wanting to mine free money from the internet. How survivable will Bitcoin be in ten years when that's no longer possible?

No. You are not seeing the whole picture. There are untapped markets where Bitcoin will be preferable. They will mostly be unregulated black market places and illegal but still potentially worth billions of $.

[OliynyK]

Bitcoins continued success still relies on young people (broke people) wanting to mine free money from the internet. How survivable will Bitcoin be in ten years when that's no longer possible?

that is correct as long as there is reward for mining people will be vested in this technology and when that is over they will search for more green pastures for sure and it is a puzzling question will the price remain at this level when there are no perks on offer.

[Kprawn]

The public will quickly see why $1.4 Billion is invested into Blockchain technology, when they notice the banks making more profits and the fees and

charges stay the same. They are just shifting the fiat system onto Blockchain technology... The concept is the same... They create the "token" in their

private Blockchain, and nobody can follow the chain, because it will not be transparent or open to the public. They can also create as much "tokens"

as they want, and adjust this without public consensus. This is definitely not Bitcoin.   It's legalized Pump n Dump schemes.

[U2]

Blockchain technologies ≠ Bitcoin

Just the opposite, development of commercial Blockchain use, especially by mainstream banks with fraud protection, will most certainly end any public desire for Bitcoin. Why would you use Bitcoin when you can have a professionally developed system that's automatically fully integrated into society?

Current Bitcoin devs can't rapidly solve the growing pains of Bitcoin. If some well financed company like Chase bank or Wells Fargo decided to throw money at "Blockchain Technology" it sure as hell wouldn't take a couple of years to solve the block size issue.

Bitcoins continued success still relies on young people (broke people) wanting to mine free money from the internet. How survivable will Bitcoin be in ten years when that's no longer possible?

You would be surprised how long it takes a bank to implement something. It's not as quick as you're making it sound. I'm talking decades of talk before action.

[yayayo]

Blockchain technologies ≠ Bitcoin

Just the opposite, development of commercial Blockchain use, especially by mainstream banks with fraud protection, will most certainly end any public desire for Bitcoin. Why would you use Bitcoin when you can have a professionally developed system that's automatically fully integrated into society?

Current Bitcoin devs can't rapidly solve the growing pains of Bitcoin. If some well financed company like Chase bank or Wells Fargo decided to throw money at "Blockchain Technology" it sure as hell wouldn't take a couple of years to solve the block size issue.

Bitcoins continued success still relies on young people (broke people) wanting to mine free money from the internet. How survivable will Bitcoin be in ten years when that's no longer possible?

I don't think so. Bitcoin remains highly attractive to a lot of people even if there are more convenient blockchain solutions by banks. We are about to enter a phase of high fiat price inflation, as central banks around the world have expanded the monetary excessively. Public debts have soared to extreme proportions. Under such circumstances, a non-inflationary and highly fungible currency like Bitcoin is perfectly suited for fiat capital flight.

With SegWit, developers made a great leap forward towards scaling Bitcoin in am efficient and decentralization-preserving way. I don't share your pessimism here.

Banks are using "Blockchain Technology" to provide centralized services. However the only reason for using a blockchain is enabling decentralization. Blockchain use comes with a huge loss of efficiency compared to traditional databases that makes no sense at all for centralized solutions. Banks will waste their money...

ya.ya.yo!

[uneng]

Blockchain technologies ≠ Bitcoin

Just the opposite, development of commercial Blockchain use, especially by mainstream banks with fraud protection, will most certainly end any public desire for Bitcoin. Why would you use Bitcoin when you can have a professionally developed system that's automatically fully integrated into society?

Current Bitcoin devs can't rapidly solve the growing pains of Bitcoin. If some well financed company like Chase bank or Wells Fargo decided to throw money at "Blockchain Technology" it sure as hell wouldn't take a couple of years to solve the block size issue.

Bitcoins continued success still relies on young people (broke people) wanting to mine free money from the internet. How survivable will Bitcoin be in ten years when that's no longer possible?

It's true many here are wanting extra income (broke people), but the Bitcoin isn't only that. Bitcoin is also a new way to make transactions nad buy things. It's the future coming and with many benefits for everybody.

People will still use this coin after 10 years, and if don't use Bitcoin, they will use another virtual currency. Nobody can stop this power anymore.

[Milkduds]

A billion really is not that large when you factor in this is a currency being used around the world,so it taps into any one that could function on the internet. As a example I read MLB pitchers cost a billion a year and baseball is a American sport for the most part.

Also wonder how much of the investment is big companies tinkering with the idea of blockchain.

[franky1]

PwC talking about how much the financial industry is investing in blockchains..

short version blockstream <-> hyperledger
i wonder if greg maxwell, adamback, or the other cronnies are going to dublin this week to say some puff piece about their involvement

[prabowo96]

I want to know how much from this 1.4 billion goes to scam altcoins and how much this 1.4 billions worth now because for sure tokens/coins got a up in the marketcap...

[RodeoX]

Blockchain technologies ≠ Bitcoin

Just the opposite, development of commercial Blockchain use, especially by mainstream banks with fraud protection, will most certainly end any public desire for Bitcoin. Why would you use Bitcoin when you can have a professionally developed system that's automatically fully integrated into society?
...

I think you know why. I would not even consider using bank-chains. Hell bitcoin is exactly rejecting using a professional system fully integrated into society, i.e. fiat.

[Yakamoto]

Leading PricewaterhouseCoopers (PwC) executive Seamus Cushley says $1.4 billion has been invested in blockchain startups so far this year. Cushley, director of fintech and digital at EMEA, will discuss blockchain’s evolution on November 8 at PwC’s Business Forum in Dublin.

https://news.bitcoin.com/1-4-billion-invested-blockchain-pwc/

Not bad in my opinion, could be better but $1.4b going into startups alone is pretty impressive already. I'm just confused as to what's making those startups so valuable compared to everything else. It's not really like there's a ton they can develop and have useful anytime soon, so what are they investing in?

[Senor.Bla]

Blockchain technologies ≠ Bitcoin

Just the opposite, development of commercial Blockchain use, especially by mainstream banks with fraud protection, will most certainly end any public desire for Bitcoin. Why would you use Bitcoin when you can have a professionally developed system that's automatically fully integrated into society?
...

I think you know why. I would not even consider using bank-chains. Hell bitcoin is exactly rejecting using a professional system fully integrated into society, i.e. fiat.

but you are educated and know better. if they start throwing massive money at it and advertise it, then most people will believe almost everything they say. bitcoin could struggle and have to watch how fast and big they grow. this is sad, but the world we live in.

[franky1]

Current Bitcoin devs can't rapidly solve the growing pains of Bitcoin. If some well financed company like Chase bank or Wells Fargo decided to throw money at "Blockchain Technology" it sure as hell wouldn't take a couple of years to solve the block size issue.

the bitcoin-core devs ARE the ones coding hyperledger (bankers blockchain).
big banks HAVE throw money at the bitcoin devs.. and the devs HAVE extended the pains of attempted growth.. taking longer then a couple years to solve the blocksize issue.

go look
hyperledger blockstream
then look at where the funding is coming from.

as for the amount $1.4Bill.. pfft that is pennies to them. infact its nothing. literally a tax refund to them
put it this way, by them putting funds into it (as a tax lookhole(foundations/charities)). it costs them nothing yet they get to play with the funds after writing it off.

[chrisevans]

Blockchain technologies ≠ Bitcoin

Just the opposite, development of commercial Blockchain use, especially by mainstream banks with fraud protection, will most certainly end any public desire for Bitcoin. Why would you use Bitcoin when you can have a professionally developed system that's automatically fully integrated into society?
...

I think you know why. I would not even consider using bank-chains. Hell bitcoin is exactly rejecting using a professional system fully integrated into society, i.e. fiat.

but you are educated and know better. if they start throwing massive money at it and advertise it, then most people will believe almost everything they say. bitcoin could struggle and have to watch how fast and big they grow. this is sad, but the world we live in.

Unfortunately I think you're right.

[Doamader]

The banks blockchain might be amazing and get a lot of promotion, but they wont be clear and transparent at all, they will only raise their profits, and for me i does consider it as a good thing to bitcoin grow as well, because make a blockchain means bitcoin had something good.

[outatime1]

Isn't there a fundamental difference between a public blockchain (bitcoin) and a private blockchain? Private blockchains are not really open ledgers and are a little different than blockchains that are independent of banks.

[Wind_FURY]

Isn't there a fundamental difference between a public blockchain (bitcoin) and a private blockchain? Private blockchains are not really open ledgers and are a little different than blockchains that are independent of banks.

Yes and there is an argument that it would be cheaper and more efficient for the banks to use their current systems or use a database. Also why would the banks use a blockchain? That would mean that they would have to share their data to all the other banks. Do the banks really trust each other that much? What secures this private blockchain, is it also proof or work? I cannot imagine a real blockchain without proof of work.