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Author Topic: Is blockchain real or hype?  (Read 2179 times)
Jet Cash
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December 15, 2016, 08:18:54 PM
 #21

So what do you guys think blockchain is? I don't mean Bitcoin, and I don't mean the software layers superimposed on a blockchain, and of course decentralisation has nothing to do with blockchain.

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December 15, 2016, 08:21:12 PM
 #22

Yes. Blockchain, a distributed database, is very real.

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December 15, 2016, 08:41:20 PM
 #23

Yes. Blockchain, a distributed database, is very real.

Sorry blockchain is just a simple sequential file. Just have a look in the directory on your computer, and you will see it.

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December 15, 2016, 08:50:26 PM
 #24

blockchain is real and i've been on it for 3 years from now and i still.. but somewhy transactions are slow these days
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December 15, 2016, 08:51:08 PM
 #25

I think is both, but don't forget blockchain is like a platform that you can launch anything on it.
First it was used to launch bitcoin now that is the real part of blockchain for now but others tried to launch altcoins which they are the hype part.

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December 16, 2016, 06:21:36 AM
 #26

There is no question about it, Bitcoin Blockchain is real, something that directly or indirectly engage more than 300,000 people. They hype comes from the marketing side and this is necessary to have wide adoption

I agreed with you, bitcoin blockchain is totally real. From the blockchain we can see the record update history of the people who tried to get into it in bitcoin world. Which is representing that bitcoin is not a hyping type to anyone. And it is also right that the word "hype" is connected only in marketing side which very normal in all aspect of business.

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December 16, 2016, 06:46:44 AM
 #27

These days there are too many talks about blockchain. So, is blockchain real or hype?

I assume you are using bitcoin and if you use btc you use the blockchain as well.

Yes,the blockchain is real,i don`t know why you are asking this?

What do you mean by "hype"?



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December 16, 2016, 06:49:24 AM
 #28

I dont really get the question. Are you saying it is just an imaginary thing that is created by belief?   Cheesy

Blockchain is real. I dont think someone can just create something like that and make it this popular.

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December 16, 2016, 07:11:59 AM
 #29

I dont really get the question. Are you saying it is just an imaginary thing that is created by belief?   Cheesy

Blockchain is real. I dont think someone can just create something like that and make it this popular.

i think the OP is asking more in the manner of

is blockchain a real 'final product' or just hyping a tool without understanding the final product the tool can make.

EG
"house bricks" they are going to solve homelessness
=hype. because land, mortar, basic utilities, planning permission, and labour, are all extra layers needed to solve homelessness. a brick is just a tool

bricks are just a single layer tool. not a final product

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December 16, 2016, 08:44:06 AM
 #30

I dont really get the question. Are you saying it is just an imaginary thing that is created by belief?   Cheesy

Blockchain is real. I dont think someone can just create something like that and make it this popular.

i think the OP is asking more in the manner of

is blockchain a real 'final product' or just hyping a tool without understanding the final product the tool can make.

EG
"house bricks" they are going to solve homelessness
=hype. because land, mortar, basic utilities, planning permission, and labour, are all extra layers needed to solve homelessness. a brick is just a tool

bricks are just a single layer tool. not a final product

I think you are correct, and on that basis all the hype about "blockchain" is just bankers trying to create new products that have the same old problems.

If you put a load of bricks in a long line, then you've got a blockchain ( well maybe a blockline), but you haven't got a house.

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December 16, 2016, 08:59:05 AM
 #31

The blockchain is definite real. The unique features are that it is de-centralized and tamper-proof. This is valuable for financial systems and in a few years we should see massive adoptions.
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December 16, 2016, 09:08:53 AM
 #32

Bitcoin is very real 1000% real

Yes, a 100% real and totally works perfectly, but this past few weeks there are small problems on transaction, but then people cannot break the record of what blockchain made for their users.

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December 17, 2016, 02:57:50 AM
 #33

It's real, otherwise we will not reach this big value of price, people trusted bitcoin and they are not dumb as they even develop new currency or tokens in the crypto where it supports bitcoin or integrate bitcoin in their system.

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December 17, 2016, 03:08:45 AM
 #34

I dont really get the question. Are you saying it is just an imaginary thing that is created by belief?   Cheesy

Blockchain is real. I dont think someone can just create something like that and make it this popular.

i think the OP is asking more in the manner of

is blockchain a real 'final product' or just hyping a tool without understanding the final product the tool can make.

EG
"house bricks" they are going to solve homelessness
=hype. because land, mortar, basic utilities, planning permission, and labour, are all extra layers needed to solve homelessness. a brick is just a tool

bricks are just a single layer tool. not a final product

I think you are correct, and on that basis all the hype about "blockchain" is just bankers trying to create new products that have the same old problems.

If you put a load of bricks in a long line, then you've got a blockchain ( well maybe a blockline), but you haven't got a house.

bricks(blocks) are mortared(chained) together.
so a blockchain can be used to make many things.

 but without direction/design you just have a wall or a totem. without utilities and planning it wont be a house.

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December 17, 2016, 03:22:22 AM
 #35

These days there are too many talks about blockchain. So, is blockchain real or hype?

Everything about it is hype. Most of the banks that claim they will use a private blockchain only needs a shared database for their needs. The developers trying to pitch for those banks to use a "blockchain" are scamming. Banks have no use for a blockchain. If they think they do, use Bitcoin.


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December 17, 2016, 03:23:35 AM
 #36

The blockchain is definite real. The unique features are that it is de-centralized and tamper-proof. This is valuable for financial systems and in a few years we should see massive adoptions.

a wall is tamper proof, unless the mortar is weak (chaining mechanism)

the mortar can be mined to find a special unique ingrediant per brick(block) (PoW)
or let the labourers sign their brick(block) with their own feacal matter(PoS, PoA)

a wall can be in one location. or copied in many locations to back each other up.
blockchain can protect one database table of results by chaining it to another. thus security its contents from file corruption

but you can also copy that multiple tables in different locations as an extra precaution.
but copying to multiple locations is not a pre-requiest. just an extra option.

it does not need to even be distributed between strangers publicly. it can be distributed within locked systems.

what makes bitcoin special is that bitcoin did not settle for the easiest route. bitcoin added many layers above blockchain to reinforce the data to many levels of magnitude that blockchain alone has.

this is why although there are 1000+ altcoins. all blockchain based.. bitcoin remains the stronger of the many.

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December 17, 2016, 03:29:14 AM
 #37

These days there are too many talks about blockchain. So, is blockchain real or hype?

Everything about it is hype. Most of the banks that claim they will use a private blockchain only needs a shared database for their needs. The developers trying to pitch for those banks to use a "blockchain" are being scammed. Banks have no use for a blockchain. If they think they do, use Bitcoin.

blockchain alone is just 'programmable' databases. a slight evolution of old database abilities.

banks DO actually see benefits of this. and benefits of having their own system as oppose to using bitcoin (100% control of the whole thing for instance)

but banks will not need/ use ALL of the extra layer security that bitcoin uses ontop of 'blockchain'

in short.
old banking system.. lets call it 1% secure.. 1% efficient banks want 40% efficient/security gain... yet bitcoin is near 100%
so not as good as bitcoin. but better than the old system.. while having full control of their invention

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December 17, 2016, 03:53:52 AM
 #38

Blockchains efficient? They are not compared to the databases banks are using now. Blockchains are slow, use too much storage and bandwidth. Also a real blockchain uses Proof of Work which is considered wasteful in the use energy by most people who do not get that it is actually a breakthrough.

We will soon see all these private "blockchain" pitches by different developers to pivot into something else and drop the word "blockchain".


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December 17, 2016, 04:31:30 AM
 #39

Blockchains efficient? They are not compared to the databases banks are using now. Blockchains are slow, use too much storage and bandwidth. Also a real blockchain uses Proof of Work which is considered wasteful in the use energy by most people who do not get that it is actually a breakthrough.

We will soon see all these private "blockchain" pitches by different developers to pivot into something else and drop the word "blockchain".

your thinking of bitcoins blockchain. trying to fit bitcoins concept into the banking industry..

wipe your mind of bitcoin and concentrate on underlying blockchain, again without thinking about all the unique bits that separates bitcoin from the other altcoins.

like going back to the design board and opening your mind to design your very own altcoin.

it doesnt need to be all data on every node(bitcoin) or all data on one server(banking).. it can be inbetween aswell

EG a texas sidechain where all the banks in texas reinforced each other. california have a different sidechain where all the banks in california reinforced each other

imagine each block is not hashed by PoW with a 10 minute target. but instead signed by xx regional hubs/bank branches in a split second.

imagine it like live data is instantly signed off as soon as its altered. and this continues on for a month. then at the end of the month. its locked for good, as historirc record. and then a new block copy is opened up to then change live. like a monthly statement of locked historic blocks and a live block ontop that is the 'current balance block'
making the live active block (much like mempool/LN) editable until its locked. but trusted available balance due to instant multisig signing

imaging instead of one central server hosting every bank account data, there was instead a bank branch that had its own account holders (sidechain) where they all inter-communicate between sidechains, like the same way routing numbers /sort codes recognise which HQ server to address for particular banking customers. but this time the data is distributed into hubs/regions/clusters/sidechains.

once you wipe your mind of bitcoin and see how loose the term blockchain is. you realise blockchain alone is just an empty tool. but is a tool that can do some very funky and unthought about things

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Don't take any information given on this forum on face value. Please do your own due diligence & respect what is written here as both opinion & information gleaned from experience. If you wish to seek legal FACTUAL advice, then seek the guidance of a LEGAL specialist.
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December 17, 2016, 04:43:56 AM
 #40

These days there are too many talks about blockchain. So, is blockchain real or hype?
Blockchain is real and its not a hype since as we can see on bitcoin it uses blockchain to make transactions. Blockchain serves as a medium or a backbone on bitcoin or any other crypto which uses it because transactions will takes place. If theres no blockchain then there would be no bitcoin at the first place.

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