mgggb Posted August 2, 2018 Share Posted August 2, 2018 I wrote an article for steemit on why I think the blockchain will end the world as we know it. I would greatly appreciate any feedback that you guys have to give. Here's a link to part 1 and part 2, I didn't realize they had a character limit so I had to make the conclusion it's own post. Link to comment Share on other sites More sharing options...
Boss Posted August 2, 2018 Share Posted August 2, 2018 "In the future, everything will be tokenized and recorded on the blockchain, and I mean everything." I have heard this before. I am not sure I can agree like I doubt every thought we have will be tokenized/recorded on the blockchain. Blockchains are finite(due to requiring resources to run) and "everything" would lean more towards infinite. However, from my projections, I do think Cryptocurrencies will eventually be the #1 currency used. If true, then I can also see the blockchain playing a massive row in almost everything but even the internet itself hasn't changed everything. Also, Smart Contracts can still have fraud when it comes to recording user action/input. And if anonymous, then not much will be recorded anyways. However, this was a great post, It really got me thinking. I am also bad at judging hyperbole so my statements earlier may be irrelevant Overall, I am ecstatic about cryptocurrencies and smart contract. It can't come soon enough really. The current tyrannical system we got going on atm is not what life is supposed to be about. Link to comment Share on other sites More sharing options...
mgggb Posted August 3, 2018 Author Share Posted August 3, 2018 1 hour ago, Boss said: I have heard this before. I am not sure I can agree like I doubt every thought we have will be tokenized/recorded on the blockchain. Blockchains are finite(due to requiring resources to run) and "everything" would lean more towards infinite. I guess a better way of putting it is "everything worth being recorded will be tokenized". 1 hour ago, Boss said: However, from my projections, I do think Cryptocurrencies will eventually be the #1 currency used. If true, then I can also see the blockchain playing a massive row in almost everything but even the internet itself hasn't changed everything. Are you kidding man? The internet has changed almost every industry. 1 hour ago, Boss said: Also, Smart Contracts can still have fraud when it comes to recording user action/input. And if anonymous, then not much will be recorded anyways. Fraud will be a huge problem but I think its a solvable one. My guess would be writing some kind of reverse clause in the smart contract that nullifies it if it is determined that x input was incorrect/fraudulent, but I'll leave that to the developers to figure out. 1 hour ago, Boss said: However, this was a great post, It really got me thinking. I am also bad at judging hyperbole so my statements earlier may be irrelevant Overall, I am ecstatic about cryptocurrencies and smart contract. It can't come soon enough really. The current tyrannical system we got going on atm is not what life is supposed to be about. Crypto is going to be the greatest wealth transfer in history. My guess is anyone with more than a few grand in most coins today will never have to work a day in their life in a decade or two. The current market downturn wont even be a blip on the price chart. Link to comment Share on other sites More sharing options...
Boss Posted August 4, 2018 Share Posted August 4, 2018 On 8/2/2018 at 3:02 PM, mgggb said: Fraud will be a huge problem but I think its a solvable one. My guess would be writing some kind of reverse clause in the smart contract that nullifies it if it is determined that x input was incorrect/fraudulent, but I'll leave that to the developers to figure out. Crypto is going to be the greatest wealth transfer in history. My guess is anyone with more than a few grand in most coins today will never have to work a day in their life in a decade or two. The current market downturn wont even be a blip on the price chart. 2 Yea I doubt fraud can get worse than where it currently is. Tech-savvy philosophical people are also at the forefront which should help minimize fraud by the time it gets to the masses. Tho due to crypto having no reverses/chargebacks and being anon(both are great and vital), fraudsters/hackers love to target it. Crypto has already been a great wealth transfer, at least to the people who got in early. I was doing well before but yea I am pretty much retired now largely due to crypto, tho I still work on things I enjoy. Whats great about this is crypto is largely libertarian. So the people who the state tries to prevent actually grew economically Link to comment Share on other sites More sharing options...
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