Blockchain is dead, longlive Bitcoin

[calkob]

I have heard a lot less news over the last few months about blockchain this and blockchain that,  for awhile every other day there was some bank or corporation spouting off about how they were using blockchain in some way. 

Is it now time for Bitcoin to take centre stage again?

[Yakamoto]

I have heard a lot less news over the last few months about blockchain this and blockchain that,  for awhile every other day there was some bank or corporation spouting off about how they were using blockchain in some way. 

Is it now time for Bitcoin to take centre stage again?

Most blockchain enthusiasts won't want to admit it in any way, but Bitcoin is now the single focus of the technologies surrounding it. The blockchain is looking less and less like something that banks are going to be able to use, however there are other applications for something like it. The people in charge of these applications have to go out and seek it first.

[romero121]

I have heard a lot less news over the last few months about blockchain this and blockchain that,  for awhile every other day there was some bank or corporation spouting off about how they were using blockchain in some way. 

Is it now time for Bitcoin to take centre stage again?

If Blockchain fails, sure its a bad time for bitcoin. In my view Blockchain technology had got some issues which will be rectified soon. Because of this transaction delay has been taking place. Misunderstanding has led to a thinking that bitcoin is dead which is unfair.

[~Bitcoin~]

Blockchain is actually tech behind bitcoin and it is just like backbone of bitcoin so basically blockchain shouldn't be considered as competitor for bitcoin.

It is true that we are hearing about several blockchain based startups/projects lining up but that will not damage bitcoin for sure (other than some altcoins). Actually blockchain based startups are trying to provide other real life solution rather than payment gateway, and bitcoin have already taken good place as payment gateway as well as safe place to invest into.

Blockchain and bitcoin both need to live long 

[Juggy777]

Bitcoin and blockchain are two sides of a coin, it's incredibly difficult to imagine life without any of those. So makes no sense to keep one and dump one. It's important to keep both in focus rather than only one. So let's hope blockchain survives it, otherwise Bitcoins will be effected by it.

[Hazir]

Blockchain not backed by huge processing power is not efficient. Private blockchain banks are trying to 'invent' is nothing more than a database.
I doubt it will solve their problem - they think if they run blockchain, store it on their main server it will be enough to fix their security flaws?
Even if you put a node in every branch it won't be safe - it will be comprised sooner or later - as long as it is not backed by enough hashing power.

[MingLee]

I'm effectively repeating what other people have said, and that is there is no point to a blockchain not run by the public because a blockchain is nothing more than a database that is effectively worthless beyond "verifying" that anything has changed. Even then, it offers minimal benefits versus the other measurements, checks and balances that verify when something has moved.

[crwth]

Isn't it that the blockchain is the technology that makes bitcoin possible? There wouldn't be a cryptocurrency if there's no blockchain, right? No more hashing power needed if there is nothing to solve by the mining machines. Since blockchain technology is really a great innovation, it has a possibility to be applied to different areas in our lives. Maybe applications for the blockchain that we haven't discovered or researched yet. The blockchain technology is still at its infancy, there are a lot of possibilities to be discovered now that it's getting more and more popular.

[rapazev]

dude.. if you talk about bitcoin you're talking about blockchain too..
of course bitcoin itself is important, but it's just one use for the blockchain technology. Blockchain is the bigger picture.

[BingoDog]

Blockchain is technology related to bitcoin but not only for bitcoins. It could be also used in other areas and many banks, governments and other know that and what to have some use of it. Blockchain could be adjusted for different purposes but because of that we don't have to fear that this will harm bitcoin.

[calkob]

dude.. if you talk about bitcoin you're talking about blockchain too..
of course bitcoin itself is important, but it's just one use for the blockchain technology. Blockchain is the bigger picture.

I was getting at the media hype over private blockchains set up by corporations and banks,  for awhile Bitcoin was being used for everything bad and the latest private blockchain was the best thing.  i have been in Bitcoin since 2010, i get that Bitcoin uses a blockchain.....lol   

[lol3c]

I think you do not have any knowledge about Bitcoin. Don't you know that Bitcoin need the Blockchain to develop and to be used ? Blockchain is just like the ocean while Bitcoin is fish swimming in this ocean. If something jeopardy the ocean, the fish will die first, not the ocean

[MingLee]

I think you do not have any knowledge about Bitcoin. Don't you know that Bitcoin need the Blockchain to develop and to be used ? Blockchain is just like the ocean while Bitcoin is fish swimming in this ocean. If something jeopardy the ocean, the fish will die first, not the ocean

It seems like you might be struggling a bit to understand what OP was referring to.

OP is saying that these supposed private blockchains that were going to "revolutionize" traditional banking are failing, and because of this Bitcoin is now just in a stronger position with even fewer competitors now.

I don't mind this. The further and further we can force banks from trying to use this tech the better imo.

[shinratensei_]

dude.. if you talk about bitcoin you're talking about blockchain too..
of course bitcoin itself is important, but it's just one use for the blockchain technology. Blockchain is the bigger picture.

I was getting at the media hype over private blockchains set up by corporations and banks,  for awhile Bitcoin was being used for everything bad and the latest private blockchain was the best thing.  i have been in Bitcoin since 2010, i get that Bitcoin uses a blockchain.....lol   

You may right about the private blockchain, Like some of his advantages cheaper fees, Any 51% attack doesn't apply.

But Public or private has got his advantages, And it is different.

[Velkro]

Don't understand this whole blockchain buzz word thing. Facts are that without its computing power bitcoin blockchain would be just a database , which all other "blockchains" are.
Bitcoin is unique, bitcoin has value, has computing power.

[Tyrantt]

I've always thought that blockchain is one of the elemental things of bitcoin.... this is kind of new to me now.

[harrymmmm]

Forget the buzzwords and hype. Just think.

Blockchains are just linked lists of data, known to and used by IT people for many decades.
With no special sauce, they offer a decently secure way to hold data. Editable, possibly distributed, etc.
Add the hash links and they can be made more difficult to change without the permissions.
Add the POW and now you make that chain even more difficult to change (immutable) without the permissions and the hash power.

Bitcoin's blockchain (and protocol) has a special sauce tho - no permissions. It allows use by anyone, provided they do the POW.
And it has a super-special sauce that incentivises anyone with that POW to secure the chain.
That sauce is the value - bitcoin.
Without that (and the permissionless nature), bank projects are hitech distributed databases, afaics.

The only thing special about the bank efforts is that they are finally doing a badly needed upgrade to their infrastructure. We can expect them to produce some great new systems, but they're not gonna be anything like Bitcoin's blockchain.

[pooya87]

I have heard a lot less news over the last few months about blockchain this and blockchain that,  for awhile every other day there was some bank or corporation spouting off about how they were using blockchain in some way. 

Is it now time for Bitcoin to take centre stage again?

those who are talking about blockchain and was trying to adapt it are still doing it, the only difference is that news sites stopped posting their click bait articles and have moved on to new and different click baits.

besides bitcoin has never left its position to want to come back now. no matter what those corporations say about blockchain alone, they want to make an altcoin, and theirs would also be centralized, unable to compete with bitcoin.

[Juggy777]

I have heard a lot less news over the last few months about blockchain this and blockchain that,  for awhile every other day there was some bank or corporation spouting off about how they were using blockchain in some way. 

Is it now time for Bitcoin to take centre stage again?

I don't think that blockchain had died or it will die. It's supplements Bitcoin so it should not. As for their glitches they are sorting it out. Bitcoin without blockchain would not be nice. So in near future both shall work in hand with each other like they have done, let both leave peacefully

[Herbert2020]

bitcoin and blockchain are not two different or separable things. they work together and stay alive together. so as long as bitcoin is alive blockchain is also alive. and all those people who want to separate bitcoin and blockchain are only trying to make an altcoin and we have already got enough of those going around that we don't need a bank controlled altcoin.