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Author Topic: Blockstream Satellite and Bitcoin Adoption  (Read 175 times)
iamTom123
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August 31, 2017, 03:31:42 AM
 #1

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How the Blockstream Satellite Will Drive Bitcoin Adoption: An Interview with Adam Back and Chris Cook
 
Last week Bitcoin Magazine covered the announcement of Blockstream Satellite, a new service that broadcasts real-time Bitcoin blockchain data from satellites in space to almost everyone on the planet. Currently Blockstream Satellite covers across two-thirds of the Earth, and service expansions are in the works.

“Today’s launch of Blockstream Satellite gives even more people on the planet the choice to participate in Bitcoin,” said Blockstream co-founder and CEO Adam Back, when the announcement was made. “With more users accessing the Bitcoin blockchain with the free broadcast from Blockstream Satellite, we expect the global reach to drive more adoption and use cases for Bitcoin, while strengthening the overall robustness of the network.”

Source Here.



I am sure that many of us heard of this news last week...about the coming launch of Blockstream Satellite which can be serving potential Bitcoin users in many places beyond the reach of the usual internet. I am highlighting the launch here because aside from serving people without the usual internet connection this facility can also be serving us in times of great difficulties when there can be a major disruption of the main technologies we are accustomed to. In fact, this satellite can be utilized when there can be a war or a massive natural disaster affecting a specific area for that matter. We finally have the solution here that can spread further the wings of Bitcoin and maybe other cryptocurrencies soon.

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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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August 31, 2017, 03:49:27 AM
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While it is fantastic news and should definitely happen, I don't see how it can help people beyond convenience.
In countries where they'd benefit from Bitcoin but don't have internet access, this does not do much because you'd still need to download a Bitcoin client that connects to the satellite from the internet.
I'd also assume that it requires a satellite dish or a special hardware wallet.
Good idea but I've no clue how it's going to work.
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August 31, 2017, 03:51:49 AM
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I think they should be focusing on other things right now to be honest, lol... Trying to flood the blockchain with even more new users when you can't even handle the traffic that's going on right now... I see lots of people trying it for the first time and being put off because of the fees and transaction time...
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August 31, 2017, 04:15:47 AM
 #4

When DirecTV or Dish Network, et al, install a dish at your place, do they say the dish is your property, or is it rental/loaner equipment only yours to keep as long as you pay for their subscription? Seems like most dishes people are likely to outfit for BlockstreamSat will be ex-subscribers'.

Saying that you don't trust someone because of their behavior is completely valid.
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August 31, 2017, 04:25:16 AM
 #5

Yeah that's great news now you can send and receive bitcoins from any place of the world but the only problem is that there are some rural places that doesn't have any internet this would be useless for places like those without internet you cannot make any transactions cause some countries like the world doesn't have internet so they left with our digital era. I dont know how do the guys of blockstream solve this problem. Ive also heard some news that google is launching free internet through satellite. Maybe this is the solution.


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August 31, 2017, 05:42:43 AM
 #6

When DirecTV or Dish Network, et al, install a dish at your place, do they say the dish is your property, or is it rental/loaner equipment only yours to keep as long as you pay for their subscription? Seems like most dishes people are likely to outfit for BlockstreamSat will be ex-subscribers'.

From what I have read, you own the equipment. They have a $100 installation fee. < which most people in 1st world countries, would not be able to afford > I think some countries might subsidize this cost or merchants might help to provide satelite hubs for people to use these services.

The innovation will come, once these installations are done. < People find ways to make things work >

OP, Satelites are not bullet proof. Some countries might target these satelites in war times. < take down the satelite and you take down most of the communication and equipment that rely on GPS coordinates. >

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