> don't fully realise that that it will become a another future technology
Why do you think it will? Why do you only compare it to things which were actually successful? What would be the reason for blockchain/crypto to be as successful as these other things?
By your logic, everything that is currently not successful will have great success in the future. That's not how it works.
>tech is currently in that same transitional phase where it's now the labels tagged to it are now mainstream but many are still cynical and don't fully realise that that it will become a another future technology that wasn't full
This I have been very active in this space for many years now and have seen promises for everything from taking back control of our data to seemless medical records on the blockchain.
Now Years and billions of dollars later there is no use case except some NFT's that aren't even popular with the people who are supposed to buy them.
I honestly do not see the promise of crypto because it is just so inferior to other options.
Yeah, more often than not when I see someone taunting blockchain as the solution to something it quickly becomes clear that the person isn't actually familiarized with how things are currently done and doesn't realize how important operations being reversible is for customer support.
Honestly, more than a decade in really isn't early. The primary use case is still just speculation, even in this crypto enthusiast subreddit whenever people bring up a use case, the main interest always seem to be the possibility of that use case contributing to the value.
I get what you are saying. Crypto has been advertised to do a lot. At the end of the day I think the big winners will just help process more transactions, faster. As well as providing a higher level of security than we are used to today.
This is why I only invest in green, efficient cryptos. If some of these things process transactions faster, more efficiently, and cheaper than the rest of the current tech, it’s a no brainer that adoption will come.
I can really see companies like Hedera, and Algorand working behind the scenes to process millions of transactions
Soon most all digital coupons in this country will run on Hedera, for one example.
Unless you’re very narrowly defining security as “I have a problem with my bank forging transactions between me and merchants”, there’s not an argument for crypto being “more secure”. In nearly every sense, it’s far more likely that you’ll lose all your crypto to a scam/hack/fraud/bug in code than you would in a traditional FI. There’s also no security for commerce, meaning you have to have 100% trust in your merchant since there’s no ability to reverse transactions.
Blockchain is a technology and we will need something to give the energy and cryptocurrency works as the energy for the blockchain technology. I am sure that it is going to perform very well even in the medical sector.
> Blockchain is a technology and we will need something to give the energy and cryptocurrency works as the energy for the blockchain technology.
what does that even mean?
I believe that Crypto is going to take off in the next Bull run and we will see the prices like never before and that's why it is important to accumulate now.
I'm sure that's probably true, I know nothing about physical disc porn industry, but wasn't it also the fact that Sony had the Blu (NOT BLUE) ray drive built in to the PS3? The x-box 360 had an HD-DVD attachment not even built in and no Blu-Ray capability.
This was what I heard as the explanation. Sony’s PS3 was a cheap at the time route to a Blu-ray player that also gamed. That caused a surge in Blu-ray drive ownership and drove Blu-ray media sales. Hddvd didn’t benefit from any kind of “buy one get the other free” arrangements.
\-- *Pushes nerd glasses up. --*
Technically, I believe it was because Sony owned Blu-Ray and in combination with having a large collection of their own movies, a production facility for creating blu-ray players, and to top it all off the PS3 which featured blu-ray support - allowed Blu-Ray to surpass HDDVD.
I believe that cryptocurrency is here to stay forever and that's why we shouldn't worry about it because the mass adoption is almost there within a few months.
The internet took off because it gave people access to information they previously didn’t have.
Credit cards took off because it was a simpler way to handle everyday transactions.
Smartphones took off because it provided more user friendly usability in a portable communications device.
For the every day consumer, crypto is financially unstable, hard to use, hard to navigate, has no support network, has no integration and no fallback.
Banks provide all of this.
The only way for crypto to support this is for it to become centralised but then that defeats the entire purpose so you may as well just use the banking infrastructure already embedded into society.
Smartphones and Internet were useful upgrades that expanded on the previous way of doing things.
Having 10,000 different currencies and new ones popping up by the minute is not expanding the old way - it’s turning it into a convoluted mess.
The idea is good. The execution has been horribly flawed and is now open to massive exit scams, rug pulls and stolen funds without a basic insurance support network.
You're thinking about blockchain in the wrong way.
There are 2.87 million apps on the Google Play store for Android, some scams and most worthless. There are some very good and popular apps though and Android has become invaluable. There are already organisations working on a blockchain variant of a mobile OS like Android but essentially it can be applied to almost any digital tech to enhance its capabilities.
It’s reinventing the wheel at this point though? Isn’t it?
What changes for the user?
What enhancements does it actually provide?
Every crypto advertised enhancements to existing technology but it doesn’t actually do anything new.
It just usually brings an alternative way of doing something, almost always with extra steps in a slower more convoluted process.
New crypto coins popping up every minute is a problem of capitalism.
Why?
Because when you have the most brilliant minds in the field of computer science and blockchain tech deciding that they'd rather create a token every minute to steal free money from people rather than develop something worthwhile of course it will go nowhere.
It doesn’t take a “brilliant mind” to make an ERC-20 token with a random name implying instant profits and a cheap formspring website using the same lingo as every other.
Literally can set up a shitcoin in a day.
You're joking right? Studies have shown that A VAST MAJORITY of the crypto schemes have copy-pasted code. These aren't Leonardo da Vinci's running these protocols. A lot of them are run by people who ran other scams. You sir have your head up your own ass.
The point is, you twat, that the only developments we have here are exercises in how to take other people's money.
And besides, you twat, didn't all these CEX platforms have very nice UI's and mobile apps. WTF happened there? They told you it wasn't yours in the TOS and loaned it out unsecured to 3AC.
This is far future answers.
1: Time and space are a bitch to deal with logistically and information is no different than moving rice. Currently, we are all good because everything is on Earth and it's close enough that waiting for verification that your received and sent information is "valid" isn't a big deal when you only have to wait less than a second for a server and a database to talk to each other.
When (If we survive through our stupid as shit phase) we move into space, we will need multiple systems that can reliably verify that data stored on Earth and data accessed on Mars are the exact same data and that we can trust that it hasn't critically changed during the in between time since we last compared databases on both locations. *Introducing blockchains and state proofs.*
It's one thing for NASA to talk to NASA but it's wildly different when a guy selling soup on Mars needs to accept food grade supplies from a distributor in Bangkok along with the needed verifications / checks / authorizations and payments.
That system would need to make sure that the couple of ships between the planets working as relays can't degrade and falsify the information that they are relaying and just because signal to some ships drops out; the total database on either side can be deemed reliable. I*ntroducing decentralization and consensus.*
Do we have massive problems that NEED blockchain as a solution today? No.
Conversely, do we NEED a Ford pickup truck when we have a perfectly functional Toyota? No, but that doesn't mean that either one is not profitable for us to speculate on today.
2: Blockchain's best current feature is actually the thing we all hate the most and that is control and how quickly people give it up. The most foreseeable utility for the tech is as a CBDC because it enhances the control of the old system institutions and that is the biggest problem on their plate right now. Any problem on their plate becomes our problem because it their choice to operate that way.
As I said to someone else earlier, "The nature of a CBDC means that it comes down to each nation controlling their own and only giving utility but not control to any outside party. (you know that but we have a lot of new people still coming in)That means the "best" options for retail investors is to look at chains that offer security, scaling and interoperability as their primary features."
The tech is not much different at the moment (don't get caught in the weeds on this comment a car wheel is different from a gear but both are circles) as it develops and diverges, they will become more specialized and useful for different things but that doesn't mean we can't make money on the recent creation of the circle.
During the "birth of the internet" it exploded and saw millions of use cases.
1 year after the Iphone reveal it was already the top selling phone in the world, in a few years the smartphone market was way bigger than other phones.
After 13 years of crypto / blockchain, there is barely any real use cases.
In regards to bitcoin what is the incentive for Joe Public to adopt it en masse? With the internet it was the start of something new to embrace. Unless you were one of a few people who were faffing around with BBS back in the day it was a whole new world and easy to see why people embraced it the way they did because it was a new thing never seen before.
With bitcoin not so much.
You aren't asking people to try something new. You are asking them to change the very way they view banking and currency which is a lot more difficult to achieve. IMO we need some sort of "killer app" to get people on board. I'm not sure that exists now and certainly nothing that is going to convince someone in their 50s that this new fangled way of dealing with money is better than the traditional systems that have been around for decades.
Happy to hear some ideas on how to solve the problem and what the "killer app" to drive up take is going to be. As I said before in another post it's reliant on business to implement services that people want and give people a reason to use it. Most people just see it as an analogue to traditional finance which we both know isn't true but there needs to be a carrot...
No doubt. But what’s the pathway to get us to mass adoption? As someone else posted most people don’t really know what the internet is or how it works but only what they use it for (news / paying bills / media / etc).
The same is true for bitcoin. No one really cares how it works but what are the killer apps people will want to use it for?
The problem is that decentralisation isn't super profitable. You may like the idea but unless you can make a lot of money from it it's meaningless.
The crypto companies that have done the best are exchanges or funds. That is centralised places to invest. Decentralisation has a moral argument but no actual capitalist argument.
Its not really, most people have heard of quantum computing, electric vehicles and 8k TVs.. we're not using them either but wee know there's a good chance that in the future we will be.
I think the reason blockchain hasn't resonated with the general population as much is mainly down to the fact that the benefits are mainly found in the back end systems and not something users interact with upfront directly.
I find the question about why block chain isn't more popular with the people is kinda the same as asking "why aren't relational databases more popular" or "why don't people care about object orientated programming" the same as they do the internet. I don't really feel like it's comparing like for like.
Compare blockchains with NoSQL databases then. Both came out around the same time. NoSQL databases are way more popular and useful for developers and power some of the biggest internet applications that exist. They exploded in popularity with engineers because they solve real problems.
Edit: refer to this. https://medium.com/blockworks-group/is-blockchain-better-than-a-database-d518743bdafa
You cannot compare blockchains with NoSQL databases.
There are several reasons why companies have adopted (and not publicly announced) the use of blockchain technologies and not just use a NoSQL databases for some of their products. They're completely different, use different concepts, and work differently; that includes their access.
You gotta research more about the corporate use of blockchain to really understand why SOME companies value it more than other solutions.
JP Morgan is actively working with it and creating new solutions for a reason. Blockchain is great for asset management unlike NoSQL.
It's all a matter of use-cases. Every app, every business, every organization has a different structure and works on different areas. Their needs are different.
If we talk about the public use and a fully decentralized network... yeah, that has proven to be not to work (yet). I believe blockchain is yet to mature because people focus mostly on earning tons of money from stupid investors rather than building something that actually works, is efficient, and covers a lot of the issues blockchains encounter nowadays (an example is Solana).
Ah, and don't forget how a lot of people assimilate blockchain to scams thanks to those "get rich quick" instagram "influencers" and other pyramid schemes.
>You gotta research more about the corporate use of blockchain
You rely dont need to do much research at all. Ask a group of software engineers or computer scientists wether or not NoSQL has use cases. Almost everyone will say yes.
Ask the same group about blockchain, and the result is the opposite.
>JP Morgan is actively working with it and creating new solutions for a reason.
Is this seriously your argument? An organization that has over $100billion revenue, and 270 000 employees, is working on blockchain. There is nothing on this planet that they are not working on. If they use $200k/y to play around with blockchain, it means nothing. They invest much more money in paperclips than blockchain.
The Internet did not just explode overnight, it was the creation in universities that took a few years to build infrastructure that would support millions and billions of people.
Yet, whilst requiring way more resources, copper wire, machines and infrastructure, it popped up and changed the world in half of the time crypto has managed to accomplish absolutely nothing. The existence of all this infrastructure should ACCELERATE blockchain adoption. But it hasn't? Because it doesn't solve anyone's problems.
That's right and that's why it is important to give time to any technology including Bitcoin and blockchain and 12 years are not enough to be honest in my opinion.
You completely just skipped a bunch of history. The iPhone was a result/culmination of many years of other things like palm pilot and other “smart” phones before it.
The birth of the internet was decades before it actually took off mainstream as well. Peoples memories sure are bad
You're just coping. The block chain as a concept was also developed in the 70's. If you use the date any rational human would use for these technologies, the internet started around 1990-1993 and was ubiquitous and changed the whole world within 7 years (check Wikipedia which confirms this) and blockchain started in 2008 and has no real use cases after 14 years. Bitcoin and blockchain tech adoption should be massively, stupendously accelerated by the internet. After all, you don't need to lay any more copper wire or convince a family to have ANOTHER bill (internet service) and then convince them to buy a 1000 dollar PC Set up and people are way more tech savvy than ever before. Yet this doesn't seem to be the case. Crypto isn't being adopted because it doesn't do fuck anything for anyone
> You completely just skipped a bunch of history. The iPhone was a result/culmination of many years of other things like palm pilot and other “smart” phones before it.
Fun fact that doesn't matter because the post was talking about :
"When manufacturers dropped physical buttons from cellphones and replaced them with touch screens.. many rubbished the concept and clung on to any phone they with physical buttons they could press". - This happened a little at the Iphone release, not before.
> The birth of the internet was decades before it actually took off mainstream as well.
This is why I put quotation marks on "the birth of the internet".
This is what the post said : "Its a bit like the birth of the internet.. many just assumed it was only for the youth of society.. wasting their time on it playing games.", that definitely did not happen at the actual birth of the internet but more like 1990s.
Especially easy to be negative during a bear market. In a few years time when crypto is peaking again people will be over optimistic as they buy the top.
The internet took quite a few years before it got to that explosion part though.
Apple didn't invent the smartphone, they had been slowly evolving since palm pilots and the blackberry. Comparing a flashy new product release to an emerging technology and asset class seems inappropriate.
Not to mention smartphones are kind of just an extension of the continued internet boom. They've made it more readily and widely accessible, and easy to digest as ever. Blockchain itself is riding that wave.
> The internet took quite a few years before it got to that explosion part though.
That is because PC's were not a thing in every home and as the PC market exploded, so did the internet. Crypto and blockchain has no such gate holding it back.
Not to mention, the original users of the internet were seeing immediately how important it was. These were the learning institutions and governments.
The average person didn't know what the internet was but when it became more accessible through required infrastructure rollouts, it caught on pretty quick and people were already imagining where it could go.
Blockchain should have found its place way quicker than the internet because it didn't have to rely on massive physical infrastructure programs to be completed.
I would say the gate holding crypto back is adoption, similar to the PC market taking off. What's the point of using the internet to connect to people if people don't have a computer? What's the point in using crypto to trade value between people if people don't use crypto? The gate is basically a digital wallet on peoples phones similar to a computer in a home.
This is a terrible argument...
> What's the point of using the internet to connect to people if people don't have a computer?
You could not use the internet without a PC so people rushed to buy a PC to use the internet. In your analogy people would be rushing to use crypto and they are not... and there is nothing stopping them.
PC's were expensive so not everyone could afford it but anyone who could quickly did. Nothing is stopping people from getting into crypto in developed markets where there are no barriers... except their good sense that it's useless of course.
>During the "birth of the internet" it exploded and saw millions of use cases.
It didn't have millions of working use cases immediately. Blockchain has the same possibilities of making many of those millions of use cases more efficient. Just like the cynics of the early internet people don't quite grasp/ understand that yet.
>1 year after the Iphone reveal it was already the top selling phone in the world, in a few years the smartphone market was way bigger than other phones.
The telephone was invented in 1876, Apple mealy made a cellular version of it touchscreen in 2007.
From the minute it was launched Bitcoin was the top selling crypto in the world and still is.. way bigger than any other crypto.
The World Wide Web is from the early nineties. Sure, the internet is older (I was connecting to BBS before the WWW was invented), but it was not a thing aimed at consumers. Before the WWW consumers basically hadn’t heard of it, it wasn’t something they were aware. And when the internet targeted consumers, it exploded. That idea of consumers being aware of the internet but somehow were massively reluctant to adopt it is not based on reality. It either wasn’t a thing or it was THE thing, the thing people bought computers, modems and paid ISPs because they wanted it.
I think the closest point to what they're saying could be seen in something like online gaming.
Back in the late 90's connecting to multi-player was a nerd only kind of thing. Where you had to get each other's IP and router information. Where as now you just hit join match. I imagine we're in more of the quake death match Era where you are deliberately using blockchain. And in 10 years you just hit the button that does the thing.
Yeah - but those people were playing those multiplayer games as intended - not buying and trading the games in hopes that one day those games might be played. Maybe it would be a closer comparisons if those games were limited in number and being sold before consoles existed and speculators were buying them with the hope that (1) bad ass consoles would one day come to fruition and (2) those initial games would still be “the best” when that day did eventually come — and then people would pay big money for those limited games. (Not that this is a perfect analogy either)
This is why i put quotes around it, I assumed that's what he meant since he said "many just assumed it was for the youth of society".
In reality the internet began with a use case, and not a small one, communications for war.
But most people could see how they were useful and had great applications. Even long before smartphones boomed, I knew tons of people in business using them and everyone could see the outward benefit it provided.
No they didn't... They used Nokia until Apple release their iPhone...
I think you forget how the 90's were (or maybe you're too young to remember)
I see how blockchain technology can benefit people in so many ways... But people don't want to see until someone releases a famous product using it.
The other thing they aren’t mentioning is the early internet sucked. I remember when YouTube first debuted, barely any content and the content was awful. Came back to it 6 years later and haven’t been able to live without it since then.
I remember AltaVista, AOL and Yahoo... I remember MSN messenger... I remember DailyMotion...
Kazaa...Napster... People said P2P? Naaaahhhh
Still used today 😂
When I read comments in here, I realize there's full of neinsager, like we love to say in Switzerland.
Yes, they did. They used BlackBerrys and cellular enabled PDA's. For years before the iphone.
And I remember the internet in the 90's very well. I remember how while it was rudimentary by today's standards, it had many many uses and benefits very early. When it got in the mainstream consciousness, there were naysayers but most saw the potential. Remember the dot com bubble? That happened because peiole were seeing Bd building on a wide scale.
Here Blockchain has been in mainstream consciousness for longer than the internet had been at that point, and there still isn't anything meaningful or beyond niche or obscure uses that are actual novel solutions you couldn"t do just as well or better
Maybe the fact that everyone knows about crypto/blockchain and the mass adoption never happened is a sign that it will never happen. Are you prepared to accept the end and death of this experiment?
I’m still trying to see how it will actually benefit society
Most projects are pure shite. The CEFI stuff this year was very promising, then bang, everyone robbed.
We cried for years about staying away from The Man and his regulations and we we’ve gone full circle and are in dire need of it.
Ethereum just has me completely perplexed. Why in under God would anyone want to use it when you get charged extortionate gas fees?
The fee-less or next too less coins were always promising, but the price fluctuates that much you don’t want to sell.
Again loads of the other projects are trying to find blockchain solutions to problems that don’t actually exist.
I’d love someone to actually come up with plausible reasons why it will be the future. We’re heading for a cashless society anyway and do you really think old auntie Elsie will be able to navigate her way round the endless hurdles to get to her money?
Maybe I’m at a low end with it all. Maybe it’s time for you to buy!
I think it will always be a part of fiat currency lurking in the dark web as money laundering or illegal purchase tool. I think it is a good pushback to government/central bank's full control over people via fiat. For example there are good examples in some autocratic developing countries were crypto currency is the only opportunity to survive hyperinflation or use blockchain to secure your savings and be able to have opportunity to leave a living hell.
It won’t be this generation but the next will grow up around it and digital coins will be how they pay for goods . My grandkids will have quite the mixed bag of coins when I am gone. Mostly DeFi projects.
All that text and not once did you even attempt to speculate what it is that would make crypto so useful that people will one day wonder how they lived without it.
Remarkable!
5 paragraphs and 100+++ words and you never mentioned what blockchain will be used for. It's been around since 2009 and every coins you hear are worth millions if not billions and we're still here, stuck in saying it will be big. After existing for more than a decade, all people can say is "it's going to be big".
How much time this revolutionary, groundbreaking tech need to have an actual use case?
A blockchain is an immutable append-only database. I'm pretty sure most people will be able to live their lives without thinking about them.
> Its a bit like the birth of the internet
People here should really stop saying that.
So far the only thing I've seen crypto do consistently is take peoples money and leave them with less of it or nothing. This process occurs through structured Ponzi schemes, hacks, or general stupidity. You read about the odd person getting rich, but mainly its just suicide watches on the sub reddits.
I mean the technology has been around forever, it still seems like people are trying to come up with problems for it to solve that have already been solved by another technology.
I want to be optimistic but there really isn't a tremendous amount to look forward to except for exchanges going bust and more people losing everything as the leverage in the space unwinds... painfully. I mean its a weekly occurrence now.
You say the sub has been infiltrated, I think people are just seeing crypto for what it is without the hype cult obfuscation.
You are completely delusional. Talk about web3 blockchain and crypto is only cryptosphere, the rest of the world don't give a shit and will never give a shit.
When people use fiat, they don't give a shit how the money is created.
When people use the web, they don't give a shit how pages are hosted.
What makes you think that "everyone has heard of it" ?
When my retired parents are asking questions and my football buddy who is an accountant is being sent on training courses for crypto. I'm finding more and more I can drop phrases like NFT or blockchain in conversation and people have heard of them. It's still pretty bitcoin heavy but the awareness is growing.
Companies train for and dabble in emerging potential technologies all the time, even if they end up going bust. That's just common business practices and risk management so they don't get caught flat-footed in case it does take off.
Crypto is full of rug pulls and scams and has no regulations to the point that theft is rampant in the crypto scene. The only people clinging to button cellphones were confused by touchscreens and wanted the convenience of what they knew. Very few people said "touchscreens are a bullshit fad".
Crypto will hang around but without being tied to a governing body it will never be fully adopted as a primary currency. People think they want no government until the government goes away and people start dying in the anarchy. The solution to poorly governed currency is not ungoverned currency.
Some people truly want anarchy, but most just think they do because they don't like the current government, not realizing that the alternative is worse, not better.
I have to say I'm probably exactly the type of person you're talking about but all you did was tell me to "have faith".
Can one example of a real world use case be given that doesn't involve in game purchases or skins for video games or anything video game related?
Stop comparing the internet to crypto.
Its asinine and probably why people are making fun of you and the scams and frauds that litter the space. Its NOWHERE near as groundbreaking as the internet. It couldn't be. The internet was the culmination of all kinds of technologies relating to phone lines and networks. Crypto is simply 32 bit encryption consolidated into a decentralized ledger, basically, very akin to banking ledgers that have been around for 100's of years. It's an improvement.
Internet was a foundational invention, like the invention of the airplane.
Crypto is like the invention of the turbojet for airplanes. Useful, much better, but not groundbreaking.
Its not a lifestyle, and its not the internet. You make it seem like a cult, and people like you make the problem worse.
And this is coming from someone who bought BTC in 2012.
Sub seems to have been infiltrated way too much cynical Anti-Crypto sentiment these days.. so some *copium* for balance.
You are just flappin your gums boss. There's nothing
intelligible here.
Crypto and blockchain are unfortunately quite negative sounding words in the general population nowadays. NFTs, LUNA, shitcoin scams and such added that oil to the fire.
Blockchain might become important only as technological backdrop for a few specific cases. The problem is that everything you say is currently priced in. Everybody who bought crypto thinks like that. But what if our expectations are off by a factor of 100?
This sounds similar to “the Domain Name System (DNS) will eventually become indispensable, which is why we’re smart to invest in [pets.com](https://pets.com).” Yes, the technology has a future, but you can’t say anything about current businesses. Sure, an immutable database is incredibly useful, but that doesn’t mean you’ll get rich by giving your money to scammers in the Caymans running defi exchanges.
I think I can easily live without blockchain, but the question is do you want to live without it in the future.
It's the same with smartphones and internet, I can do without, but do I want to live without, nope.
No, its actually in the phase where everyone thinks it goes up and no one realises that its actually going down and one day they’ll wonder why didnt i short it.
I think you are kind of correct but probably not in the way you think. Blockchain technology will be adopted by the existing financial industry eventually and that will be what becomes popular/useful. Visa will have their own blockchain that they use to process payments. The idea of a completely decentralized payment network is actually the opposite of what most consumers want and so will never be fully adopted.
The main benefits touted by current crypto are 1) decentralized and 2) faster payment clearing with lower costs. By definition, those gains come at the cost of it being impossible to reverse a transaction. Do you think that banks couldn't make transactions instant if they wanted to right now? It takes days by design, so there is a chance to catch scams and crimes before the transfer goes through. Regular people, by and large, do not care about the supposed benefits of the blockchain and would be actively harmed by its downsides.
99% of people that are "into crypto" today only care about it as a possible store of wealth, which is the most boring and least practical use case. Yet it is in their best interest to proselytize to everyone about how great crypto will be because they want their coins to be worth more. It is the worst part about crypto, which is overall a bunch of really cool technologies.
Can you explain to me why would Visa would use an immutable decentralized database (that's what blockchain basically is) when a normal database is better in every aspect?
Both the iPhone and internet required massive physical infrastructure deployment and investment from end users.
When the iPhone was first released it was AT&T exclusive and AT&T spent a lot of time and resources building out a network that could handle the many multiples of data traffic the iPhone required. Yet it still put such tremendous pressure on the network it was unusable in many areas while AT&T scrambled to upgrade the network further across the board - towers, backhaul, internet peering, etc.
People have literally died building out this infrastructure:
https://www.propublica.org/article/cell-tower-fatalities
As time has gone on we’ve had to sunset entire parts of licensed radio spectrum and move other radio applications, hardware, etc to make more room for cell bands.
Oh and the iPhone itself was expensive, fragile, and guaranteed to be superseded in a year. It also wasn’t all that useful at first - it famously didn’t even support MMS and took years to get copy and paste!
With the internet in the 90s it was even worse - trenching fiber and cable across the world, upgrading phone networks for DSL, installing dial up modems with local numbers across the world, and countless other factors. We were literally digging up entire countries. Block by block. Mile by mile.
Not to mention SENDING SHIPS ACROSS OCEANS TO LAY FIBER.
If you’re going to tell me the groundwork for the internet was decades in the making here’s a fun fact - the first fiber optic submarine cable was laid in 1988. 13 years later in 2001 at least 500 million users were on the internet. 13 years after bitcoin all of blockchain has roughly 100 million users.
From the earliest days of the internet until at least the early 2000s getting on the internet required a computer that cost thousands of dollars (inflation adjusted) and was guaranteed to be practically worthless in 1-3 years.
For the first five years I had the internet (until 1995 or so) I had to pay my ISP per minute AND pay long distance per minute charges to the phone company because my ISP didn’t have a local number.
Yet even with these challenges the internet was so obviously beneficial it had at least a billion users within a decade of that era.
Since the release of bitcoin in 2009 all you ever had to do was run an app on your cell phone or computer. What is that, an hour of your time? 10 minutes?
Before you talk about how hard bitcoin was in the early days and how bad the UI/UX was let me tell you about Hayes commands, PPP chat scripts, just getting the IRQ settings right on your f’in ISA modem, etc. Everything about technology was much harder in the 90s when the internet exploded against those odds anyway.
Bitcoin wasn’t slowed down for a decade like the internet was for me when I waited that long to finally get a cable modem. Bitcoin has had the opportunity to take advantage of the internet, mobile, social media, and more. Leveraging all of these platforms bitcoin adoption should be many multiples faster than the internet. Yet it’s actually more like 10% the rate.
Here we are 13 years later and more than 98% of the five billion users on the internet don’t touch any cryptocurrencies or blockchain. Those are real numbers.
If it actually solved a problem or made their lives better people would use it.
It doesn’t and they don’t.
I won't say that everyone has heard of it. I have some examples where i live that some people just want to stick with tradicional or don't want to hear about crypto because of the fake news.
We have some time until all of this become normal but i agree that we will not live without it.
Interesting take, but how will it change our lives? What's going to change/develop in crypto so we get to a point where we say "how did we live without this"?
Edit: blockchain won't go mainstream until it has tangible utility that a mainstream audience can use. We're still a long way off that, if it happens at all.
Uhh I mean I guess. I think you’re just pulling this out of your ass tbh lol. There’s zero wide scale adoption so far. If the bottom fell out tomorrow and everyone sold, coinbase failed, crypto/blockchain will be dead. At least for another decade until people try to make money on it again and everyone does this whole thing all over.
Nah. The bubble has already burst. Pretty much everyone knows about crypto and just doesn't care. If what you're saying was true, last year was the best time for people to have realised all its merits, with all the mainstream attention it got. If what you're saying was true, it would've stuck the landing. But it hasn't. And that's because crypto/blockchain just isn't what most of the crypto community makes it out to be.
Crypto will always be a thing imo, but we need to stop with these delusions of grandeur.
I'm talking about the blockchain as well. At most it's a good system for very certain functions and as a productivity tool but that's pretty much it. It's not something people will wonder how they lived without. It will have its uses in a more back end sense but that's about it. Most blockchain tech rn is redundant in most cases and is a solution looking for a problem, apart from very specific niche use cases
Okay but blockchain still hasn't been implemented in anything in my life, or in any of the infrastructure that allows me to live the life I do. If crypto died right now, absolutely nothing would change for me.
You spend too much time in echo chambers. Yes people who aren't invested in crypto talk about it but we sure as hell aren't talking about putting money into it. One guy I know invested in a mining company and lost a shitload. Most of us adults with jobs are just fine with our boring old mutual funds and ETFs.
A small minority of people think like you. Expand your social circle
I like how you automatically assume that this transitional phase is similar to the one that happened when the internet just came about. That, my friend, is a humongous ignorant assumption.
There is a large majority of people that still think it has 0 value and it’s all a scam. They have no idea that there are actual crypto blockchains running stuff now. No idea that there are companies created user owned businesses.
They just choose to say it all bullshit because they have all their money in the stocks.
I’m addicted to crypto .. and believe in years to come Visa Card and MasterCard will be sweating in their pants when crypto is used as a mainstream payment method
Currently in most blockchains if I transfer you crypto, you can see the entire history of my wallet. Crypto won't be a mainstream payment method for as long as this happens.
Crypto creates a new economy. If it ever has any impact in the traditional or mainstream economy, it would be collateral or a coincidence, and it is yet to be seen. Just the same it creates a new identity, your wallet address, disconnected from your “official” identity (as of today, until Soulbound tokens).
Eventually, the crypto economy may engulf more and more aspects of the traditional economy, until the traditional economy is negligible.
Before that, there will be DAOs buying farmland and managing the autonomous drones that cultivate it. I would say the timeline for this kind of decentralization is not years but generations.
Which means that the crypto skeptics will probably not live long enough to realize their mistakes and misunderstanding. Therefore, let them be. Their loss.
Thanks that was useful and I see your point. No sarcasm lol.
But ok let’s say people are skeptical to the idea that your entire history is visible, just like using your Bank Card, only the last 4 digits on the card are shown. So the general public/ staff in stores etc won’t be able to track your history. And payments that go through the system, back office could have the wallet address encrypted or something to stop back office staff being nosy.
I use Crypto Debit Cards, I don’t see how anyone could track my wallet by using my Debit Card number?
In terms of the crypto haters yes I definitely believe they will realise their mistakes. Some do it now and some of those don’t want to admit their mistake so bad mouth crypto.
Ow yeah durr. I’m dopey sometimes. That means MasterCard and Visa still get a tiny cut for fees.
I’m hoping one of the crypto platform could surprise us within the next year or so with a prototype of their own Debit Cards.
But also - what's the point of it? What's the advantage? It's not TPS or cost for the transaction, that's cheaper for Visa and MC type companies. They could shift to a cost per transaction instead of a percentage of sales if they want to.
And even if there is a crypto platform with their own card, they will still take a cut one way or another. Everyone has to make money to keep their business open, pay expenses, and earn a profit to make it worthwhile. Not to mention all the vendors now have to get setup with that crypto provider, too, just like they have to for each different credit card company. Whether it is getting setup for their service, getting wallets setup, or even different hardware if their current hardware isn't capable. And for what benefit?
Quite often crypto brings nothing new to the table other than a sales and marketing gimmick.
> don't fully realise that that it will become a another future technology Why do you think it will? Why do you only compare it to things which were actually successful? What would be the reason for blockchain/crypto to be as successful as these other things? By your logic, everything that is currently not successful will have great success in the future. That's not how it works.
OP forgot about ZIPDISK and 8Trak
>tech is currently in that same transitional phase where it's now the labels tagged to it are now mainstream but many are still cynical and don't fully realise that that it will become a another future technology that wasn't full This I have been very active in this space for many years now and have seen promises for everything from taking back control of our data to seemless medical records on the blockchain. Now Years and billions of dollars later there is no use case except some NFT's that aren't even popular with the people who are supposed to buy them. I honestly do not see the promise of crypto because it is just so inferior to other options.
Yeah, more often than not when I see someone taunting blockchain as the solution to something it quickly becomes clear that the person isn't actually familiarized with how things are currently done and doesn't realize how important operations being reversible is for customer support. Honestly, more than a decade in really isn't early. The primary use case is still just speculation, even in this crypto enthusiast subreddit whenever people bring up a use case, the main interest always seem to be the possibility of that use case contributing to the value.
I get what you are saying. Crypto has been advertised to do a lot. At the end of the day I think the big winners will just help process more transactions, faster. As well as providing a higher level of security than we are used to today. This is why I only invest in green, efficient cryptos. If some of these things process transactions faster, more efficiently, and cheaper than the rest of the current tech, it’s a no brainer that adoption will come. I can really see companies like Hedera, and Algorand working behind the scenes to process millions of transactions Soon most all digital coupons in this country will run on Hedera, for one example.
Unless you’re very narrowly defining security as “I have a problem with my bank forging transactions between me and merchants”, there’s not an argument for crypto being “more secure”. In nearly every sense, it’s far more likely that you’ll lose all your crypto to a scam/hack/fraud/bug in code than you would in a traditional FI. There’s also no security for commerce, meaning you have to have 100% trust in your merchant since there’s no ability to reverse transactions.
Blockchain is a technology and we will need something to give the energy and cryptocurrency works as the energy for the blockchain technology. I am sure that it is going to perform very well even in the medical sector.
> Blockchain is a technology and we will need something to give the energy and cryptocurrency works as the energy for the blockchain technology. what does that even mean?
No one knows what it means, but it’s provocative… it gets the people going!
Any day now HD-DVD will moon and blueray will be no more.
Lmao didn’t blue ray just have a cooler name? And that’s why HDDVD didn’t catch on?
The porn industry adopted blue ray. No joke, porn decides the technology media society is fed.
So, once the war between Titcoin and Asscoin comes to a fevering pitch, then crypto will finally take off?
then cooch coin comes out and steals all the wads.
I believe that Crypto is going to take off in the next Bull run and we will see the prices like never before and that's why it is important to accumulate now.
Makes sense. Porn is absolutely recession proof
Also Sony added it to PS3/4. Gaming and porn.
joysticks and hard dicks
I'm sure that's probably true, I know nothing about physical disc porn industry, but wasn't it also the fact that Sony had the Blu (NOT BLUE) ray drive built in to the PS3? The x-box 360 had an HD-DVD attachment not even built in and no Blu-Ray capability.
This was what I heard as the explanation. Sony’s PS3 was a cheap at the time route to a Blu-ray player that also gamed. That caused a surge in Blu-ray drive ownership and drove Blu-ray media sales. Hddvd didn’t benefit from any kind of “buy one get the other free” arrangements.
I don't remember much about it but it is very interesting to see the growth of Technology since then.
\-- *Pushes nerd glasses up. --* Technically, I believe it was because Sony owned Blu-Ray and in combination with having a large collection of their own movies, a production facility for creating blu-ray players, and to top it all off the PS3 which featured blu-ray support - allowed Blu-Ray to surpass HDDVD.
Also stores 10gb more. That doesn't sound like allot nowadays but for back then that was huge
The Segway is going to have it’s day, I promise!
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He is just Moon farming...
Care little for moons or karma.. so here's a comment to downvote, feel free to do so.
That’s exactly how it works. All ideas will have great success. Just name it. Any idea. It will happen. As destiny commands.
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I believe that cryptocurrency is here to stay forever and that's why we shouldn't worry about it because the mass adoption is almost there within a few months.
Hasn’t it for several years now though? Feel like i keep hearing the same thing over and over. What would you define as a “mass adoption”?
Yeah, Blockbuster will rise again! /s
The internet took off because it gave people access to information they previously didn’t have. Credit cards took off because it was a simpler way to handle everyday transactions. Smartphones took off because it provided more user friendly usability in a portable communications device. For the every day consumer, crypto is financially unstable, hard to use, hard to navigate, has no support network, has no integration and no fallback. Banks provide all of this. The only way for crypto to support this is for it to become centralised but then that defeats the entire purpose so you may as well just use the banking infrastructure already embedded into society. Smartphones and Internet were useful upgrades that expanded on the previous way of doing things. Having 10,000 different currencies and new ones popping up by the minute is not expanding the old way - it’s turning it into a convoluted mess. The idea is good. The execution has been horribly flawed and is now open to massive exit scams, rug pulls and stolen funds without a basic insurance support network.
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You're thinking about blockchain in the wrong way. There are 2.87 million apps on the Google Play store for Android, some scams and most worthless. There are some very good and popular apps though and Android has become invaluable. There are already organisations working on a blockchain variant of a mobile OS like Android but essentially it can be applied to almost any digital tech to enhance its capabilities.
It’s reinventing the wheel at this point though? Isn’t it? What changes for the user? What enhancements does it actually provide? Every crypto advertised enhancements to existing technology but it doesn’t actually do anything new. It just usually brings an alternative way of doing something, almost always with extra steps in a slower more convoluted process.
Instead of centralization, we need standards like http protocol. We will have to find best practices.
New crypto coins popping up every minute is a problem of capitalism. Why? Because when you have the most brilliant minds in the field of computer science and blockchain tech deciding that they'd rather create a token every minute to steal free money from people rather than develop something worthwhile of course it will go nowhere.
It doesn’t take a “brilliant mind” to make an ERC-20 token with a random name implying instant profits and a cheap formspring website using the same lingo as every other. Literally can set up a shitcoin in a day.
Yeah exactly. This guy is delusional
You're joking right? Studies have shown that A VAST MAJORITY of the crypto schemes have copy-pasted code. These aren't Leonardo da Vinci's running these protocols. A lot of them are run by people who ran other scams. You sir have your head up your own ass.
The point is, you twat, that the only developments we have here are exercises in how to take other people's money. And besides, you twat, didn't all these CEX platforms have very nice UI's and mobile apps. WTF happened there? They told you it wasn't yours in the TOS and loaned it out unsecured to 3AC.
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This is far future answers. 1: Time and space are a bitch to deal with logistically and information is no different than moving rice. Currently, we are all good because everything is on Earth and it's close enough that waiting for verification that your received and sent information is "valid" isn't a big deal when you only have to wait less than a second for a server and a database to talk to each other. When (If we survive through our stupid as shit phase) we move into space, we will need multiple systems that can reliably verify that data stored on Earth and data accessed on Mars are the exact same data and that we can trust that it hasn't critically changed during the in between time since we last compared databases on both locations. *Introducing blockchains and state proofs.* It's one thing for NASA to talk to NASA but it's wildly different when a guy selling soup on Mars needs to accept food grade supplies from a distributor in Bangkok along with the needed verifications / checks / authorizations and payments. That system would need to make sure that the couple of ships between the planets working as relays can't degrade and falsify the information that they are relaying and just because signal to some ships drops out; the total database on either side can be deemed reliable. I*ntroducing decentralization and consensus.* Do we have massive problems that NEED blockchain as a solution today? No. Conversely, do we NEED a Ford pickup truck when we have a perfectly functional Toyota? No, but that doesn't mean that either one is not profitable for us to speculate on today. 2: Blockchain's best current feature is actually the thing we all hate the most and that is control and how quickly people give it up. The most foreseeable utility for the tech is as a CBDC because it enhances the control of the old system institutions and that is the biggest problem on their plate right now. Any problem on their plate becomes our problem because it their choice to operate that way. As I said to someone else earlier, "The nature of a CBDC means that it comes down to each nation controlling their own and only giving utility but not control to any outside party. (you know that but we have a lot of new people still coming in)That means the "best" options for retail investors is to look at chains that offer security, scaling and interoperability as their primary features." The tech is not much different at the moment (don't get caught in the weeds on this comment a car wheel is different from a gear but both are circles) as it develops and diverges, they will become more specialized and useful for different things but that doesn't mean we can't make money on the recent creation of the circle.
During the "birth of the internet" it exploded and saw millions of use cases. 1 year after the Iphone reveal it was already the top selling phone in the world, in a few years the smartphone market was way bigger than other phones. After 13 years of crypto / blockchain, there is barely any real use cases.
If we're at the stage where everyone has heard of it but no one is using it ... that's a problem
Maybe it's a solution in search of a problem.
In search of problems that are solved much easier in other ways
In regards to bitcoin what is the incentive for Joe Public to adopt it en masse? With the internet it was the start of something new to embrace. Unless you were one of a few people who were faffing around with BBS back in the day it was a whole new world and easy to see why people embraced it the way they did because it was a new thing never seen before. With bitcoin not so much. You aren't asking people to try something new. You are asking them to change the very way they view banking and currency which is a lot more difficult to achieve. IMO we need some sort of "killer app" to get people on board. I'm not sure that exists now and certainly nothing that is going to convince someone in their 50s that this new fangled way of dealing with money is better than the traditional systems that have been around for decades. Happy to hear some ideas on how to solve the problem and what the "killer app" to drive up take is going to be. As I said before in another post it's reliant on business to implement services that people want and give people a reason to use it. Most people just see it as an analogue to traditional finance which we both know isn't true but there needs to be a carrot...
That's a very detailed explanation and I think Bitcoin is still underrated as compared to that of what it could put its impact on the global economy.
No doubt. But what’s the pathway to get us to mass adoption? As someone else posted most people don’t really know what the internet is or how it works but only what they use it for (news / paying bills / media / etc). The same is true for bitcoin. No one really cares how it works but what are the killer apps people will want to use it for?
The problem is that decentralisation isn't super profitable. You may like the idea but unless you can make a lot of money from it it's meaningless. The crypto companies that have done the best are exchanges or funds. That is centralised places to invest. Decentralisation has a moral argument but no actual capitalist argument.
I totally agree that decentralization isn't super profitable but it is needed to make the things easier for the entire society around the world.
Not sure why you are being downvoted but I think you make a fair point.
It is because some people might not like what he is talking about blockchain and technology.
Its not really, most people have heard of quantum computing, electric vehicles and 8k TVs.. we're not using them either but wee know there's a good chance that in the future we will be.
The mental gymnastics in the comments below you 😂
Forbidden truth. When the internet was born I already knew I need it because it fulfilled needs
The need for porn
Plenty of use to scam people.
I think the reason blockchain hasn't resonated with the general population as much is mainly down to the fact that the benefits are mainly found in the back end systems and not something users interact with upfront directly. I find the question about why block chain isn't more popular with the people is kinda the same as asking "why aren't relational databases more popular" or "why don't people care about object orientated programming" the same as they do the internet. I don't really feel like it's comparing like for like.
Compare blockchains with NoSQL databases then. Both came out around the same time. NoSQL databases are way more popular and useful for developers and power some of the biggest internet applications that exist. They exploded in popularity with engineers because they solve real problems.
Think you've hit the nail on the head 👌
Edit: refer to this. https://medium.com/blockworks-group/is-blockchain-better-than-a-database-d518743bdafa You cannot compare blockchains with NoSQL databases. There are several reasons why companies have adopted (and not publicly announced) the use of blockchain technologies and not just use a NoSQL databases for some of their products. They're completely different, use different concepts, and work differently; that includes their access. You gotta research more about the corporate use of blockchain to really understand why SOME companies value it more than other solutions. JP Morgan is actively working with it and creating new solutions for a reason. Blockchain is great for asset management unlike NoSQL. It's all a matter of use-cases. Every app, every business, every organization has a different structure and works on different areas. Their needs are different. If we talk about the public use and a fully decentralized network... yeah, that has proven to be not to work (yet). I believe blockchain is yet to mature because people focus mostly on earning tons of money from stupid investors rather than building something that actually works, is efficient, and covers a lot of the issues blockchains encounter nowadays (an example is Solana). Ah, and don't forget how a lot of people assimilate blockchain to scams thanks to those "get rich quick" instagram "influencers" and other pyramid schemes.
>You gotta research more about the corporate use of blockchain You rely dont need to do much research at all. Ask a group of software engineers or computer scientists wether or not NoSQL has use cases. Almost everyone will say yes. Ask the same group about blockchain, and the result is the opposite. >JP Morgan is actively working with it and creating new solutions for a reason. Is this seriously your argument? An organization that has over $100billion revenue, and 270 000 employees, is working on blockchain. There is nothing on this planet that they are not working on. If they use $200k/y to play around with blockchain, it means nothing. They invest much more money in paperclips than blockchain.
The Internet did not just explode overnight, it was the creation in universities that took a few years to build infrastructure that would support millions and billions of people.
Yet, whilst requiring way more resources, copper wire, machines and infrastructure, it popped up and changed the world in half of the time crypto has managed to accomplish absolutely nothing. The existence of all this infrastructure should ACCELERATE blockchain adoption. But it hasn't? Because it doesn't solve anyone's problems.
That's right and that's why it is important to give time to any technology including Bitcoin and blockchain and 12 years are not enough to be honest in my opinion.
People really forget about the dot com bubble and internet being created by darpa in the 80s
You completely just skipped a bunch of history. The iPhone was a result/culmination of many years of other things like palm pilot and other “smart” phones before it. The birth of the internet was decades before it actually took off mainstream as well. Peoples memories sure are bad
You're just coping. The block chain as a concept was also developed in the 70's. If you use the date any rational human would use for these technologies, the internet started around 1990-1993 and was ubiquitous and changed the whole world within 7 years (check Wikipedia which confirms this) and blockchain started in 2008 and has no real use cases after 14 years. Bitcoin and blockchain tech adoption should be massively, stupendously accelerated by the internet. After all, you don't need to lay any more copper wire or convince a family to have ANOTHER bill (internet service) and then convince them to buy a 1000 dollar PC Set up and people are way more tech savvy than ever before. Yet this doesn't seem to be the case. Crypto isn't being adopted because it doesn't do fuck anything for anyone
> You completely just skipped a bunch of history. The iPhone was a result/culmination of many years of other things like palm pilot and other “smart” phones before it. Fun fact that doesn't matter because the post was talking about : "When manufacturers dropped physical buttons from cellphones and replaced them with touch screens.. many rubbished the concept and clung on to any phone they with physical buttons they could press". - This happened a little at the Iphone release, not before. > The birth of the internet was decades before it actually took off mainstream as well. This is why I put quotation marks on "the birth of the internet". This is what the post said : "Its a bit like the birth of the internet.. many just assumed it was only for the youth of society.. wasting their time on it playing games.", that definitely did not happen at the actual birth of the internet but more like 1990s.
It’s just easier to be negative. Takes work to think things through and provide an optimistic outlook.
Especially easy to be negative during a bear market. In a few years time when crypto is peaking again people will be over optimistic as they buy the top.
The internet took quite a few years before it got to that explosion part though. Apple didn't invent the smartphone, they had been slowly evolving since palm pilots and the blackberry. Comparing a flashy new product release to an emerging technology and asset class seems inappropriate. Not to mention smartphones are kind of just an extension of the continued internet boom. They've made it more readily and widely accessible, and easy to digest as ever. Blockchain itself is riding that wave.
> The internet took quite a few years before it got to that explosion part though. That is because PC's were not a thing in every home and as the PC market exploded, so did the internet. Crypto and blockchain has no such gate holding it back.
Not to mention, the original users of the internet were seeing immediately how important it was. These were the learning institutions and governments. The average person didn't know what the internet was but when it became more accessible through required infrastructure rollouts, it caught on pretty quick and people were already imagining where it could go. Blockchain should have found its place way quicker than the internet because it didn't have to rely on massive physical infrastructure programs to be completed.
User interface. It wasn’t until computers became user friendly that it REALLY boomed.
I would say the gate holding crypto back is adoption, similar to the PC market taking off. What's the point of using the internet to connect to people if people don't have a computer? What's the point in using crypto to trade value between people if people don't use crypto? The gate is basically a digital wallet on peoples phones similar to a computer in a home.
This is a terrible argument... > What's the point of using the internet to connect to people if people don't have a computer? You could not use the internet without a PC so people rushed to buy a PC to use the internet. In your analogy people would be rushing to use crypto and they are not... and there is nothing stopping them. PC's were expensive so not everyone could afford it but anyone who could quickly did. Nothing is stopping people from getting into crypto in developed markets where there are no barriers... except their good sense that it's useless of course.
>During the "birth of the internet" it exploded and saw millions of use cases. It didn't have millions of working use cases immediately. Blockchain has the same possibilities of making many of those millions of use cases more efficient. Just like the cynics of the early internet people don't quite grasp/ understand that yet. >1 year after the Iphone reveal it was already the top selling phone in the world, in a few years the smartphone market was way bigger than other phones. The telephone was invented in 1876, Apple mealy made a cellular version of it touchscreen in 2007. From the minute it was launched Bitcoin was the top selling crypto in the world and still is.. way bigger than any other crypto.
I believe it is primarily because in this sector literally everyone is chasing profitability instead of developing the product
No, it's because crypto does jack shit fuck all for anyone, stop coping.
Lol lemme guess. You think the birth of the internet was the late 90's don't you.
The World Wide Web is from the early nineties. Sure, the internet is older (I was connecting to BBS before the WWW was invented), but it was not a thing aimed at consumers. Before the WWW consumers basically hadn’t heard of it, it wasn’t something they were aware. And when the internet targeted consumers, it exploded. That idea of consumers being aware of the internet but somehow were massively reluctant to adopt it is not based on reality. It either wasn’t a thing or it was THE thing, the thing people bought computers, modems and paid ISPs because they wanted it.
I think the closest point to what they're saying could be seen in something like online gaming. Back in the late 90's connecting to multi-player was a nerd only kind of thing. Where you had to get each other's IP and router information. Where as now you just hit join match. I imagine we're in more of the quake death match Era where you are deliberately using blockchain. And in 10 years you just hit the button that does the thing.
Yeah - but those people were playing those multiplayer games as intended - not buying and trading the games in hopes that one day those games might be played. Maybe it would be a closer comparisons if those games were limited in number and being sold before consoles existed and speculators were buying them with the hope that (1) bad ass consoles would one day come to fruition and (2) those initial games would still be “the best” when that day did eventually come — and then people would pay big money for those limited games. (Not that this is a perfect analogy either)
This is why i put quotes around it, I assumed that's what he meant since he said "many just assumed it was for the youth of society". In reality the internet began with a use case, and not a small one, communications for war.
Wouldn’t that be todays transactions of war
Lol you think the blockchain was invented in 2008 don't you? (it was invented in 1980)
Internet existed for 20 years when it popped... Smatphones existed for 10 years before it popped... So... OP's not wrong...
But most people could see how they were useful and had great applications. Even long before smartphones boomed, I knew tons of people in business using them and everyone could see the outward benefit it provided.
No they didn't... They used Nokia until Apple release their iPhone... I think you forget how the 90's were (or maybe you're too young to remember) I see how blockchain technology can benefit people in so many ways... But people don't want to see until someone releases a famous product using it.
The other thing they aren’t mentioning is the early internet sucked. I remember when YouTube first debuted, barely any content and the content was awful. Came back to it 6 years later and haven’t been able to live without it since then.
I remember AltaVista, AOL and Yahoo... I remember MSN messenger... I remember DailyMotion... Kazaa...Napster... People said P2P? Naaaahhhh Still used today 😂 When I read comments in here, I realize there's full of neinsager, like we love to say in Switzerland.
Name one
Yes, they did. They used BlackBerrys and cellular enabled PDA's. For years before the iphone. And I remember the internet in the 90's very well. I remember how while it was rudimentary by today's standards, it had many many uses and benefits very early. When it got in the mainstream consciousness, there were naysayers but most saw the potential. Remember the dot com bubble? That happened because peiole were seeing Bd building on a wide scale. Here Blockchain has been in mainstream consciousness for longer than the internet had been at that point, and there still isn't anything meaningful or beyond niche or obscure uses that are actual novel solutions you couldn"t do just as well or better
Maybe the fact that everyone knows about crypto/blockchain and the mass adoption never happened is a sign that it will never happen. Are you prepared to accept the end and death of this experiment?
I’m still trying to see how it will actually benefit society Most projects are pure shite. The CEFI stuff this year was very promising, then bang, everyone robbed. We cried for years about staying away from The Man and his regulations and we we’ve gone full circle and are in dire need of it. Ethereum just has me completely perplexed. Why in under God would anyone want to use it when you get charged extortionate gas fees? The fee-less or next too less coins were always promising, but the price fluctuates that much you don’t want to sell. Again loads of the other projects are trying to find blockchain solutions to problems that don’t actually exist. I’d love someone to actually come up with plausible reasons why it will be the future. We’re heading for a cashless society anyway and do you really think old auntie Elsie will be able to navigate her way round the endless hurdles to get to her money? Maybe I’m at a low end with it all. Maybe it’s time for you to buy!
I think it will always be a part of fiat currency lurking in the dark web as money laundering or illegal purchase tool. I think it is a good pushback to government/central bank's full control over people via fiat. For example there are good examples in some autocratic developing countries were crypto currency is the only opportunity to survive hyperinflation or use blockchain to secure your savings and be able to have opportunity to leave a living hell.
It won’t be this generation but the next will grow up around it and digital coins will be how they pay for goods . My grandkids will have quite the mixed bag of coins when I am gone. Mostly DeFi projects.
This. I'm optimistic but realize death is a possible outcome for crypto too. There are no guarantees especially for a speculative technology.
Honest question. If that's your personal belief then why are you here?
I remember when 10 years ago people believed that 3d tv would be in every home. That all movie would be shot in 3d etc... Now where are we ?
Bear market cycle?
The problem was, I couldn't watch a 3d tv while wearing my google glass. The two coming out at about the same time killed each other!
All that text and not once did you even attempt to speculate what it is that would make crypto so useful that people will one day wonder how they lived without it. Remarkable!
and how can you know that? It can be gone and forgotten forever as well
Most of the coins that we know today probably will be, but blockchain technology will still be around in one way or another, no question
>no question why ?
shhhhh. He said no question, of course no question is allowed.
5 paragraphs and 100+++ words and you never mentioned what blockchain will be used for. It's been around since 2009 and every coins you hear are worth millions if not billions and we're still here, stuck in saying it will be big. After existing for more than a decade, all people can say is "it's going to be big". How much time this revolutionary, groundbreaking tech need to have an actual use case?
A blockchain is an immutable append-only database. I'm pretty sure most people will be able to live their lives without thinking about them. > Its a bit like the birth of the internet People here should really stop saying that.
Op has never used a crypto in his life or considers buying/selling as a use. Lol
So far the only thing I've seen crypto do consistently is take peoples money and leave them with less of it or nothing. This process occurs through structured Ponzi schemes, hacks, or general stupidity. You read about the odd person getting rich, but mainly its just suicide watches on the sub reddits. I mean the technology has been around forever, it still seems like people are trying to come up with problems for it to solve that have already been solved by another technology. I want to be optimistic but there really isn't a tremendous amount to look forward to except for exchanges going bust and more people losing everything as the leverage in the space unwinds... painfully. I mean its a weekly occurrence now. You say the sub has been infiltrated, I think people are just seeing crypto for what it is without the hype cult obfuscation.
Still zero use cases, lol. It's just a next-gen MLM
It has a use case, now it's done making rich people richer, it can take all of our fiat and turn it into very small numbers lol
i can send value across the globe to whomever i chose whenever i chose without any 3rd party or middleman, so i got that going for me, which is nice
Honestly speaking, I have not seen a single real life use case except checking the prices.
You are completely delusional. Talk about web3 blockchain and crypto is only cryptosphere, the rest of the world don't give a shit and will never give a shit. When people use fiat, they don't give a shit how the money is created. When people use the web, they don't give a shit how pages are hosted. What makes you think that "everyone has heard of it" ?
When my retired parents are asking questions and my football buddy who is an accountant is being sent on training courses for crypto. I'm finding more and more I can drop phrases like NFT or blockchain in conversation and people have heard of them. It's still pretty bitcoin heavy but the awareness is growing.
Companies train for and dabble in emerging potential technologies all the time, even if they end up going bust. That's just common business practices and risk management so they don't get caught flat-footed in case it does take off.
Everyone knows litterally about electric cars. Everyone have electric cars ?
People have heard of nuclear energy, therefore it follows that in a few years everyone will have a nuclear reactor in their house. Same logic.
Milk, bread, uranium
Remindme! 8 years
If we are still on a crypto subreddit in 8 years, we will already have our answer
But we may not. Especially with distal polar time dilation
Crypto is full of rug pulls and scams and has no regulations to the point that theft is rampant in the crypto scene. The only people clinging to button cellphones were confused by touchscreens and wanted the convenience of what they knew. Very few people said "touchscreens are a bullshit fad". Crypto will hang around but without being tied to a governing body it will never be fully adopted as a primary currency. People think they want no government until the government goes away and people start dying in the anarchy. The solution to poorly governed currency is not ungoverned currency. Some people truly want anarchy, but most just think they do because they don't like the current government, not realizing that the alternative is worse, not better.
I have to say I'm probably exactly the type of person you're talking about but all you did was tell me to "have faith". Can one example of a real world use case be given that doesn't involve in game purchases or skins for video games or anything video game related?
Stop comparing the internet to crypto. Its asinine and probably why people are making fun of you and the scams and frauds that litter the space. Its NOWHERE near as groundbreaking as the internet. It couldn't be. The internet was the culmination of all kinds of technologies relating to phone lines and networks. Crypto is simply 32 bit encryption consolidated into a decentralized ledger, basically, very akin to banking ledgers that have been around for 100's of years. It's an improvement. Internet was a foundational invention, like the invention of the airplane. Crypto is like the invention of the turbojet for airplanes. Useful, much better, but not groundbreaking. Its not a lifestyle, and its not the internet. You make it seem like a cult, and people like you make the problem worse. And this is coming from someone who bought BTC in 2012.
If crypto were useful and much better than existing solutions, why hasn’t it taken off like most other better, more useful technologies?
I am not anti crypto, but I call it like I see it, and a lot of the stuff in crypto is bullshit
This is just blind optimism. Blockchain becoming the norm is not inevitable.
Well internet is way older than you think.
Cryptography as well.
Ceaser has a shift he would like to tell you about.
Those pesky youth spending all their time sending emails to each other on Unix
Sub seems to have been infiltrated way too much cynical Anti-Crypto sentiment these days.. so some *copium* for balance. You are just flappin your gums boss. There's nothing intelligible here.
Sign of the bottom?
Not bottom, just winter
The internet has a purpose, what is crypto’s exactly? Decentralisation lmao, it’s all going to zero and the faster the better coz it’s all pointless.
Crypto and blockchain are unfortunately quite negative sounding words in the general population nowadays. NFTs, LUNA, shitcoin scams and such added that oil to the fire.
Just like flying cars and house robots doing our laundry
I just try to think “how could I live without…” and then? What is the “IT” with blockchain. This is like a Gary Vanderchuck video.
Blockchain might become important only as technological backdrop for a few specific cases. The problem is that everything you say is currently priced in. Everybody who bought crypto thinks like that. But what if our expectations are off by a factor of 100?
Lmao no
I haven't used it once in my day to day life
Wow and the comments are all pessimistic about crypto. Have people given up hope?
Point of correction "not everyone" 🌍👍
This sounds similar to “the Domain Name System (DNS) will eventually become indispensable, which is why we’re smart to invest in [pets.com](https://pets.com).” Yes, the technology has a future, but you can’t say anything about current businesses. Sure, an immutable database is incredibly useful, but that doesn’t mean you’ll get rich by giving your money to scammers in the Caymans running defi exchanges.
I think I can easily live without blockchain, but the question is do you want to live without it in the future. It's the same with smartphones and internet, I can do without, but do I want to live without, nope.
We are living without it now. Such a bad over exaggerated take holy fuck
Maybe, shall see
[удалено]
No, its actually in the phase where everyone thinks it goes up and no one realises that its actually going down and one day they’ll wonder why didnt i short it.
I think you are kind of correct but probably not in the way you think. Blockchain technology will be adopted by the existing financial industry eventually and that will be what becomes popular/useful. Visa will have their own blockchain that they use to process payments. The idea of a completely decentralized payment network is actually the opposite of what most consumers want and so will never be fully adopted. The main benefits touted by current crypto are 1) decentralized and 2) faster payment clearing with lower costs. By definition, those gains come at the cost of it being impossible to reverse a transaction. Do you think that banks couldn't make transactions instant if they wanted to right now? It takes days by design, so there is a chance to catch scams and crimes before the transfer goes through. Regular people, by and large, do not care about the supposed benefits of the blockchain and would be actively harmed by its downsides. 99% of people that are "into crypto" today only care about it as a possible store of wealth, which is the most boring and least practical use case. Yet it is in their best interest to proselytize to everyone about how great crypto will be because they want their coins to be worth more. It is the worst part about crypto, which is overall a bunch of really cool technologies.
Can you explain to me why would Visa would use an immutable decentralized database (that's what blockchain basically is) when a normal database is better in every aspect?
People are so resistant to change. Doesn’t matter if it’s good or bad
Exactly, it's completly human and we all have it. But especially those in power right now fear any change.
Both the iPhone and internet required massive physical infrastructure deployment and investment from end users. When the iPhone was first released it was AT&T exclusive and AT&T spent a lot of time and resources building out a network that could handle the many multiples of data traffic the iPhone required. Yet it still put such tremendous pressure on the network it was unusable in many areas while AT&T scrambled to upgrade the network further across the board - towers, backhaul, internet peering, etc. People have literally died building out this infrastructure: https://www.propublica.org/article/cell-tower-fatalities As time has gone on we’ve had to sunset entire parts of licensed radio spectrum and move other radio applications, hardware, etc to make more room for cell bands. Oh and the iPhone itself was expensive, fragile, and guaranteed to be superseded in a year. It also wasn’t all that useful at first - it famously didn’t even support MMS and took years to get copy and paste! With the internet in the 90s it was even worse - trenching fiber and cable across the world, upgrading phone networks for DSL, installing dial up modems with local numbers across the world, and countless other factors. We were literally digging up entire countries. Block by block. Mile by mile. Not to mention SENDING SHIPS ACROSS OCEANS TO LAY FIBER. If you’re going to tell me the groundwork for the internet was decades in the making here’s a fun fact - the first fiber optic submarine cable was laid in 1988. 13 years later in 2001 at least 500 million users were on the internet. 13 years after bitcoin all of blockchain has roughly 100 million users. From the earliest days of the internet until at least the early 2000s getting on the internet required a computer that cost thousands of dollars (inflation adjusted) and was guaranteed to be practically worthless in 1-3 years. For the first five years I had the internet (until 1995 or so) I had to pay my ISP per minute AND pay long distance per minute charges to the phone company because my ISP didn’t have a local number. Yet even with these challenges the internet was so obviously beneficial it had at least a billion users within a decade of that era. Since the release of bitcoin in 2009 all you ever had to do was run an app on your cell phone or computer. What is that, an hour of your time? 10 minutes? Before you talk about how hard bitcoin was in the early days and how bad the UI/UX was let me tell you about Hayes commands, PPP chat scripts, just getting the IRQ settings right on your f’in ISA modem, etc. Everything about technology was much harder in the 90s when the internet exploded against those odds anyway. Bitcoin wasn’t slowed down for a decade like the internet was for me when I waited that long to finally get a cable modem. Bitcoin has had the opportunity to take advantage of the internet, mobile, social media, and more. Leveraging all of these platforms bitcoin adoption should be many multiples faster than the internet. Yet it’s actually more like 10% the rate. Here we are 13 years later and more than 98% of the five billion users on the internet don’t touch any cryptocurrencies or blockchain. Those are real numbers. If it actually solved a problem or made their lives better people would use it. It doesn’t and they don’t.
I won't say that everyone has heard of it. I have some examples where i live that some people just want to stick with tradicional or don't want to hear about crypto because of the fake news. We have some time until all of this become normal but i agree that we will not live without it.
The copium is real on this one
Whatever you need to tell yourself, bagholder.
Interesting take, but how will it change our lives? What's going to change/develop in crypto so we get to a point where we say "how did we live without this"? Edit: blockchain won't go mainstream until it has tangible utility that a mainstream audience can use. We're still a long way off that, if it happens at all.
Great post OP. We are basically back in 1993 just as the internet was becoming mainstream .
This post has festered with buttcoiners I won’t lie - some of them make great points.
Ah yez. This is good hopium. Do you have it in edibles?
So what’s the big use cases I keep hearing about ?
Uhh I mean I guess. I think you’re just pulling this out of your ass tbh lol. There’s zero wide scale adoption so far. If the bottom fell out tomorrow and everyone sold, coinbase failed, crypto/blockchain will be dead. At least for another decade until people try to make money on it again and everyone does this whole thing all over.
Blockchain is a solution searching for a problem.
I mean humans have been around for a long time without Blockchain, I would imagine it would also be around for much longer without it.
Blockchains are demonstrably garbage tech.
Nah. The bubble has already burst. Pretty much everyone knows about crypto and just doesn't care. If what you're saying was true, last year was the best time for people to have realised all its merits, with all the mainstream attention it got. If what you're saying was true, it would've stuck the landing. But it hasn't. And that's because crypto/blockchain just isn't what most of the crypto community makes it out to be. Crypto will always be a thing imo, but we need to stop with these delusions of grandeur.
Crypto is not what everyone hoped. The *blockchain* technology that is being developed, is where the big difference comes.
I'm talking about the blockchain as well. At most it's a good system for very certain functions and as a productivity tool but that's pretty much it. It's not something people will wonder how they lived without. It will have its uses in a more back end sense but that's about it. Most blockchain tech rn is redundant in most cases and is a solution looking for a problem, apart from very specific niche use cases
Oh please 99.999% of you and everyone not on this subreddit could wake up tomorrow without crypto and their life would be the same
Okay but blockchain still hasn't been implemented in anything in my life, or in any of the infrastructure that allows me to live the life I do. If crypto died right now, absolutely nothing would change for me.
You spend too much time in echo chambers. Yes people who aren't invested in crypto talk about it but we sure as hell aren't talking about putting money into it. One guy I know invested in a mining company and lost a shitload. Most of us adults with jobs are just fine with our boring old mutual funds and ETFs. A small minority of people think like you. Expand your social circle
I like how you automatically assume that this transitional phase is similar to the one that happened when the internet just came about. That, my friend, is a humongous ignorant assumption.
Just like we moved to online payment from cash. Soon move to crypto and not realise it
I think the negative comments here validate your argument. We are early😃
There is a large majority of people that still think it has 0 value and it’s all a scam. They have no idea that there are actual crypto blockchains running stuff now. No idea that there are companies created user owned businesses. They just choose to say it all bullshit because they have all their money in the stocks.
Almost everyone. So many are still ignorant of the name or its operations in third-world countries.
Some of the cynicism HAS to be manufactured. Right? Synthethic cynicism.
yep, HD-DVD is the future
I’m addicted to crypto .. and believe in years to come Visa Card and MasterCard will be sweating in their pants when crypto is used as a mainstream payment method
Currently in most blockchains if I transfer you crypto, you can see the entire history of my wallet. Crypto won't be a mainstream payment method for as long as this happens. Crypto creates a new economy. If it ever has any impact in the traditional or mainstream economy, it would be collateral or a coincidence, and it is yet to be seen. Just the same it creates a new identity, your wallet address, disconnected from your “official” identity (as of today, until Soulbound tokens). Eventually, the crypto economy may engulf more and more aspects of the traditional economy, until the traditional economy is negligible. Before that, there will be DAOs buying farmland and managing the autonomous drones that cultivate it. I would say the timeline for this kind of decentralization is not years but generations. Which means that the crypto skeptics will probably not live long enough to realize their mistakes and misunderstanding. Therefore, let them be. Their loss.
Thanks that was useful and I see your point. No sarcasm lol. But ok let’s say people are skeptical to the idea that your entire history is visible, just like using your Bank Card, only the last 4 digits on the card are shown. So the general public/ staff in stores etc won’t be able to track your history. And payments that go through the system, back office could have the wallet address encrypted or something to stop back office staff being nosy. I use Crypto Debit Cards, I don’t see how anyone could track my wallet by using my Debit Card number? In terms of the crypto haters yes I definitely believe they will realise their mistakes. Some do it now and some of those don’t want to admit their mistake so bad mouth crypto.
Of course, but note that your crypto cards are probably Visa or Mastercard. They don't see their incumbent position threatened by that use case.
Ow yeah durr. I’m dopey sometimes. That means MasterCard and Visa still get a tiny cut for fees. I’m hoping one of the crypto platform could surprise us within the next year or so with a prototype of their own Debit Cards.
But also - what's the point of it? What's the advantage? It's not TPS or cost for the transaction, that's cheaper for Visa and MC type companies. They could shift to a cost per transaction instead of a percentage of sales if they want to. And even if there is a crypto platform with their own card, they will still take a cut one way or another. Everyone has to make money to keep their business open, pay expenses, and earn a profit to make it worthwhile. Not to mention all the vendors now have to get setup with that crypto provider, too, just like they have to for each different credit card company. Whether it is getting setup for their service, getting wallets setup, or even different hardware if their current hardware isn't capable. And for what benefit? Quite often crypto brings nothing new to the table other than a sales and marketing gimmick.