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Author Topic: Has everyone who are into blockchain realized it's power and what it can do?  (Read 56 times)
Nagesh021
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July 13, 2018, 11:31:06 AM
 #1

People often look at bitcoin and blockchain in a technical way and most of them fail to understand how powerful it is. Ever since the inception of the human race people have always relied on centralized entities and since most of us love power we tend to suppress ideas or groups of people who revolt against it. Since blockchain came into mainstream all these centralized entities like governments, banks and other organizations with a reasonable amount of clout are put in danger and therefore they are taking all measures to make sure blockchain dosen't reach the common man. They are trying so hard to spread a propaganda against cryptocurrencies and they want to make it look like it's a crime to buy cryptocurrency. Coming back to my initial point the technology is so powerful because it has the power to free everyone from hassle that people experience because of this central entities. What do you guys feel? Any instances in your life that's made you feel the power of blockchain?
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July 14, 2018, 08:32:18 AM
 #2

People are sometimes afraid to take something new, and blockchain technology is no exception, and then banks and the government are trying to impose that bitcoin is dangerous!

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July 16, 2018, 02:36:41 PM
 #3

People often look at bitcoin and blockchain in a technical way and most of them fail to understand how powerful it is. Ever since the inception of the human race people have always relied on centralized entities and since most of us love power we tend to suppress ideas or groups of people who revolt against it.
Well, in the history of the human kind the centralization is kind of recent, but I totally get your point.

Since blockchain came into mainstream all these centralized entities like governments, banks and other organizations with a reasonable amount of clout are put in danger and therefore they are taking all measures to make sure blockchain dosen't reach the common man.
This is far to be mainstream, to be honest. Mainstream is Facebook, for instance, with more than 2 billion users around the world. Anyway, I get the point. Governments are taking measures to have the control, maybe, and it is completely normal (I don't like, but it is normal). See for instance how are they introducing strong regulations to the exchanges.
But, also, some governments are considering all the benefits the Blockchain technology can have, for example, you can read this: https://www.congress.gov/115/crpt/hrpt596/CRPT-115hrpt596.pdf
In Chapter 9 the US government talks about how the blockchain technology can be adapted to other many uses, and how useful it can be.

They are trying so hard to spread a propaganda against cryptocurrencies and they want to make it look like it's a crime to buy cryptocurrency. Coming back to my initial point the technology is so powerful because it has the power to free everyone from hassle that people experience because of this central entities. What do you guys feel? Any instances in your life that's made you feel the power of blockchain?

Since I've been into the crypto world for the last 6 years, I can absolutely see how the technology can change the wide economical approach. This is a revolution, from my perspective, and I do agree with you, for it can be seen like the very first time when humankind has developed a system to humankind, instead to make the rich richer. But let's be honest.
You are talking about two different things:
1.- Blockchain technology
2.- Bitcoin

The first one is a tech that can be applied to many users (read the chapter 9 in the link), from medical records to the implementation of a new kind of "money".
The second one is just an example of how it can be implemented in the economy.

This is clear to me that Bitcoin is a revolution. But this is far from becoming mainstream for the moment, though. Now, regulations are trying to be both the path towards mainstream and centralization: mainstream in the sense of giving the people the necessary tools for them to join the movement; centralization because those tools are being regulated by a centralized entity, like governments and exchanges.
Now, if you centralize the use of a decentralized asset by regulation, is it centralized or decentralized then?
And, what about anonymity? Do you think it is going to be possible to stay annonimous once crypto become mainstream? What are your thoughts?




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mjglqw
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July 16, 2018, 02:47:52 PM
 #4

Since blockchain came into mainstream all these centralized entities like governments, banks and other organizations with a reasonable amount of clout are put in danger and therefore they are taking all measures to make sure blockchain dosen't reach the common man. They are trying so hard to spread a propaganda against cryptocurrencies and they want to make it look like it's a crime to buy cryptocurrency.
Even though this can be possible, that's definitely quite a conspiracy theory you have there. I personally think it's more of the ignorance of people rather than them actually intentionally spreading propaganda; as it's kinda obvious that most people in the government(due to their statements about bitcoin or cryptocurrencies in general) are quite oblivious when talking about technology.

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July 16, 2018, 03:38:16 PM
 #5


This is clear to me that Bitcoin is a revolution. But this is far from becoming mainstream for the moment, though. Now, regulations are trying to be both the path towards mainstream and centralization: mainstream in the sense of giving the people the necessary tools for them to join the movement; centralization because those tools are being regulated by a centralized entity, like governments and exchanges.
Now, if you centralize the use of a decentralized asset by regulation, is it centralized or decentralized then?
And, what about anonymity? Do you think it is going to be possible to stay annonimous once crypto become mainstream? What are your thoughts?




[/quote]

I'm a newbie on this forum and the reason that i joined this forum was with the hope to find the answers for the three biggest questions that use to puzzle me ever since i understood blokchain.
1. The first question was about the deanonymization https://bitcointalk.org/index.php?topic=4670296.0 . I was so happy that members with legendary status helped me understand it better.
2. The second question was the one that you commented on
3. My third question or rather my perspective is that we will never achieve absolute decentralization because of the centralized structure that is hard coded into our lives. what do you think? In our lifetimes would we see absolute decentralization?
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July 16, 2018, 04:09:25 PM
 #6



1. The first question was about the deanonymization https://bitcointalk.org/index.php?topic=4670296.0 . I was so happy that members with legendary status helped me understand it better.
2. The second question was the one that you commented on
3. My third question or rather my perspective is that we will never achieve absolute decentralization because of the centralized structure that is hard coded into our lives. what do you think? In our lifetimes would we see absolute decentralization?

1.- Well, we've already talked about that. Yep, the way to "deanomymization" can be the KYC being implement in exchanges. Let's see it this way: information in power now. If you have your client's private data, then the market value of your business grows. Why? Because data is everything now, so, from the business perspective, as much private information you can recollect from the people, more money you will have. Besides, governments do like to have the control, so if a big exchanger is asked by the government, they will be implementing the KYC (more profitable+more trusted).
About anonymity, I do have some questions too. I don't use platforms like Facebook, for instance, because I see them as something terrible. Meaning: the people are willing to share anything, from the dish they've taken for breakfast to the clothes they are wearing today, but, the most concerning part is that they are also willing to share other's lives!!! They are no longer asking for taking a pic of you and sharing it on the internet, they just don't care... So, this society we live in is no longer caring for the privacy, on the contrary, they actually enjoy to share everything, each detail. It concerns me a lot. And that's the reason why I believe that, if becoming mainstream, crypto is not going to be anonymous.
3.- As well as the USE of the crypto is centralized, the system will be centralized. For instance, picture a neighborhood market: they resolve to create a barter system and to exchange, I don't know, maybe fruits for vegetables. They grow up bananas, and they change their bananas for tomatoes. Well, imagine that the neighborhood grows up, and then suddenly one of the integrants resolve to create a system of trust: he will be the responsible for the transactions now, and he is going to earn a banana and a tomato for every single exchange. Also, he's going to have everyone's data in order to be able to ensure the transaction to be "fair". Since that very moment, this is centralized, from my perspective. Now, regarding crypto, this is happening with exchanges: they provide the people the necessary connection for the transaction to be made, but at a high cost: fees and sensible information.
This is the shape the system is taking, and I don't totally like it.

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Nagesh021
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July 16, 2018, 04:17:41 PM
 #7



1. The first question was about the deanonymization https://bitcointalk.org/index.php?topic=4670296.0 . I was so happy that members with legendary status helped me understand it better.
2. The second question was the one that you commented on
3. My third question or rather my perspective is that we will never achieve absolute decentralization because of the centralized structure that is hard coded into our lives. what do you think? In our lifetimes would we see absolute decentralization?

1.- Well, we've already talked about that. Yep, the way to "deanomymization" can be the KYC being implement in exchanges. Let's see it this way: information in power now. If you have your client's private data, then the market value of your business grows. Why? Because data is everything now, so, from the business perspective, as much private information you can recollect from the people, more money you will have. Besides, governments do like to have the control, so if a big exchanger is asked by the government, they will be implementing the KYC (more profitable+more trusted).
About anonymity, I do have some questions too. I don't use platforms like Facebook, for instance, because I see them as something terrible. Meaning: the people are willing to share anything, from the dish they've taken for breakfast to the clothes they are wearing today, but, the most concerning part is that they are also willing to share other's lives!!! They are no longer asking for taking a pic of you and sharing it on the internet, they just don't care... So, this society we live in is no longer caring for the privacy, on the contrary, they actually enjoy to share everything, each detail. It concerns me a lot. And that's the reason why I believe that, if becoming mainstream, crypto is not going to be anonymous.
3.- As well as the USE of the crypto is centralized, the system will be centralized. For instance, picture a neighborhood market: they resolve to create a barter system and to exchange, I don't know, maybe fruits for vegetables. They grow up bananas, and they change their bananas for tomatoes. Well, imagine that the neighborhood grows up, and then suddenly one of the integrants resolve to create a system of trust: he will be the responsible for the transactions now, and he is going to earn a banana and a tomato for every single exchange. Also, he's going to have everyone's data in order to be able to ensure the transaction to be "fair". Since that very moment, this is centralized, from my perspective. Now, regarding crypto, this is happening with exchanges: they provide the people the necessary connection for the transaction to be made, but at a high cost: fees and sensible information.
This is the shape the system is taking, and I don't totally like it.


What do you think about the startups that are claiming to make a state where people can live life by exchanging the tokens that they give. don't you think that is absolute decentralization?
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July 16, 2018, 04:33:27 PM
 #8



What do you think about the startups that are claiming to make a state where people can live life by exchanging the tokens that they give. don't you think that is absolute decentralization?

As long as you have to "cash" it for buying food, no, it is not.

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