Ten years have passed, and nobody has figured out a way to use blockchain

[paulmaritz]

St. Patrick, in your own words, "sorry for being rude", but you come over as a bought and paid for establishment shill.

[1714679035]

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[1714679035]

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[St. Patrick]

I have a feeling you're deliberately turning my words around! Well, they have smart phones, well then what ? What can they do with them today ? Where they can pay with bitcoin ? 99.9% of outlets work either with cash or with Bank cards. It is initially about the fact that there are a lot of possibilities to use blockchain , but it has not received any practical application so far. For 10 years - could solve a lot, but in our world, the blockchain, and the entire stock market is used for speculation, Scam, thousands ICO deliberately failed and shit. I respect every opinion you have, but let's face it.

[St. Patrick]

St. Patrick, in your own words, "sorry for being rude", but you come over as a bought and paid for establishment shill.

you're wrong ... What I have to pay ? ) I'm up to my ears in cryptocurrency. I invested 80% of my Fiat money myself. And plan to do this and further. I'm just talking about the practical application of technology.

[criptix]

I have a feeling you're deliberately turning my words around! Well, they have smart phones, well then what ? What can they do with them today ? Where they can pay with bitcoin ? 99.9% of outlets work either with cash or with Bank cards. It is initially about the fact that there are a lot of possibilities to use blockchain , but it has not received any practical application so far. For 10 years - could solve a lot, but in our world, the blockchain, and the entire stock market is used for speculation, Scam, thousands ICO deliberately failed and shit. I respect every opinion you have, but let's face it.

From nobody of this shitters have internet we went to half of them have internet and smart phones.

Please go read some CNBC news, huffington post, daily mail or something similar first because you actually dont even have half knowledge

[chennan]

Most of the current 'use cases' are indeed horseshit. I don't think anyone outside of a few nutters cares about decentralised file storage or dog walking ICOs. I'm pretty confident not one single project built on top of the base layers that's around now will be around in five years.

However this very moment today try sending some money from your bank in Denver to a holiday rental in Sumatra and see how long that takes, how much that costs and whether it'll ever bother to arrive. There is so little comparison to Bitcoin it's pitiful and it's genuinely bizarre that it's still considered acceptable in these fast paced times.

As for other applications I think overall we'll see a curve of actual usage very similar to the dotcom bubble. No one'll know what to do with it. They'll drive prices sky high anyway. It'll collapse. Someone will figure out what to do with it and then it'll take over the world.

The most compelling uses probably still haven't been conceived yet.

Just purely based on speculation... I can imagine that decentralized apps, better yet just the ability to have contracts be created on the blockchain in a decentralized matter, will be purely beneficial to business at first with very niche needs; as it was with the very early days of the internet.

I really think decentralized contracts/apps will become beneficial to the average person, but I think it will be quite a long time before people actually work and create their own things on the blockchain.  Regular people tend to flock to centralized businesses as of right now... there will have to be a huge change of mentality of everybody to actually take matters in their own hands and be responsible for themselves rather than having the crutch that is "customer service"

[RodeoX]

LOL, what? There are hundreds of blockchain projects under way, hundreds more than I can count. 

And by the way. Bitcoin was not even released 10 years ago.  Blockchain was not in the minds or vocabulary of code writers until about 2014 and not commonly discussed until 2016.  Where are you getting your information?

[chennan]

Roughly it's just 10 years since the introduction of Blockchain technology, we got Bitcoin and Ethereum which utilizes it.
With these two, new different innovations are carefully added layer by layer and it surely takes time. For me BTC and ETH aren't designed for mainstream usage, they need a next layer of services to expand.
Give it 20 more years for mainstream version of blockchain-based technology to surface, or non-cryptocurrency applications are maybe on the way because of today's fame.

Technology isn't always fast-paced in development, except if there's competition over a scarce market.
In Blockchain related technologies like Bitcoin, people are making money without even helping the development, developers aren't gaining any profits from improving the code (only a sense security) and there's too much money involved that any revisions and additions must be meticulously tested that takes a lot of time.
This isn't smartphone's GPU/Processor Technology that are "sold" to customers then "forget them" aside from warranties.

I mean it makes sense though... with a revolutionary type of idea that wasn't really thought of before, it takes humans a bit to be able to wrap their head around it and be able to see ways to apply those concepts into "real life" type of things.

What I'm trying to say is that it the concept of the internet was developed in the late 60's, early 70's... humans were able to make those ideas a reality by starting to test out e-mail and other communications of the net in the 80's or so... and then you have instant messaging, AOL, VoIP, forums, Amazon, Google, blah blah blah being popped up and utilized all over the place.

The thing is, is that I believe we are still in the 80's (edit: or very early 90's)... No true companies are out there that utilize the block chain except to be on->off ramps for fiat->crypto->other crypto-> fiat.

It's hard to not be interested in it and eagerly await people figuring out a way to "use" the blockchain.

[chennan]

LOL, what? There are hundreds of blockchain projects under way, hundreds more than I can count. 

And by the way. Bitcoin was not even released 10 years ago.  Blockchain was not in the minds or vocabulary of code writers until about 2014 and not commonly discussed until 2016.  Where are you getting your information?

Under way is different in my mind than being actively used by normal people.  Once I go to a place like Walmart or BestBuy and see some start up company sell a software program based on the blockchain to average ordinary people will I see it as the beginning. 

(referencing how AOL did things of course).

I know there are projects that are being worked on, but I have yet to see things that I feel will last past the ICO phase... There were tons of start up businesses and people buying up domain names like crazy in the early internet (like Google and Amazon, etc.), but we could never even begin to imagine what those two companies would become later in the future (all because of the Internet).  At the time we just thought that Google was only for searching the internet (if maybe you weren't able to find it on askjeeves, lol) or buying a book online...

[St. Patrick]

I mean it makes sense though... with a revolutionary type of idea that wasn't really thought of before, it takes humans a bit to be able to wrap their head around it and be able to see ways to apply those concepts into "real life" type of things.

And?  Will this happen at all ? I generally have a feeling that the main wave of HYIP around cryptocurrencies is already behind. And if you fall interest = demand will fall, as a consequence maybe even a blockchain will become not so popular ?

[ypsilon]

Great piece of thought provoking stuff. You are raising allot of questions i have been asking myself since the time i have been putting my interest to blockchain in great fascination. I also realy like the early comment about how we as humans have a hard time grasping the concept of money and its role in human societies. I agree with most of the points you raise, especialy how international transfer and speculation seem to be the only dominant usecases for crypto now. All the smart contract stuff may be usefull, but seem mostly unrelated to the currency or even the blockchain aspects in many cases... Ppl tend to talk about the potential of untraceable privacy coins like Monero, however i can see how the simplicity and transparancy of the Bitcoin system can create opportunities. I am working on a white paper, in an effort to put some new economic fundamentals under the bitcoin system, making it less volatile and rationalize its vallue. I call it the ypsilon project, but i think i might need some help... thanks for your post.

[sand9999]

Most of the current 'use cases' are indeed horseshit. I don't think anyone outside of a few nutters cares about decentralised file storage or dog walking ICOs. I'm pretty confident not one single project built on top of the base layers that's around now will be around in five years.

However this very moment today try sending some money from your bank in Denver to a holiday rental in Sumatra and see how long that takes, how much that costs and whether it'll ever bother to arrive. There is so little comparison to Bitcoin it's pitiful and it's genuinely bizarre that it's still considered acceptable in these fast paced times.

As for other applications I think overall we'll see a curve of actual usage very similar to the dotcom bubble. No one'll know what to do with it. They'll drive prices sky high anyway. It'll collapse. Someone will figure out what to do with it and then it'll take over the world.

The most compelling uses probably still haven't been conceived yet.

This is a genuine usecase where Crypto could be useful. But it requires blessings from the Government. Else you could easily be stamped as doing Money Laundering.

[worldofcoins]

A lot of companies have figured out how to use blockchain, though it is mostly as a payment ledger. Crypto-kitties managed to use the ethereum blockchain for a massively successful game, and there have been numerous other successful projects. That being said, we're still well away from decentralized applications and file storage, but we can see the path from here, and the road doesn't look too difficult.

[St. Patrick]

A lot of companies have figured out how to use blockchain, though it is mostly as a payment ledger. Crypto-kitties managed to use the ethereum blockchain for a massively successful game, and there have been numerous other successful projects. That being said, we're still well away from decentralized applications and file storage, but we can see the path from here, and the road doesn't look too difficult.

Agreed. But path  too long...
especially when we consider the transience of our lives. Still want to bite off a small piece of the future.

[audaciousbeing]

Ten years is a short period for a project that have come to challenge the way things are being done in the traditional way and this did not come as a surprise to the third world countries and developing countries alone, but also the ones that have advanced developed in all of human endeavors. It took the world by surprise that no one ever thought such thing could exist but here we are, its happening even the investors that have shape the 21st century and future generation are yet to grasp what is really happening.

Not that things are not been done, but at a slower rate and the ones that are going to shake all of us is not a project that would materialize in that short period of time because of the amount of time it will take. In the coming years, we all expect all of this to role out both the alpha and beta stage.

[Me.n.KHOF4SH]

What we're seeing now is like the basic and early version of telephone! It requires decades to improve and reach to a place that anybody wants to use it and become a major part in humans life. atm, most of blockchain projects are completely useless and basically they're money grab trolls

[St. Patrick]

most of blockchain projects are completely useless and basically they're money grab trolls

Hallelujah!!!!!
1 little correction - not most!!! ALMOST ALL!