Decentralized Enough?
View this post on Hive: Decentralized Enough?
6 years ago in #cryptocurrency by indigoocean (67)
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I think in the short term these more centralized solutions will be able to get traction faster because the strength of that centralization also is when it comes to development, not only technology development but also business development, marketing, etc. Like with Ripple, when you just have a CEO which is what the worlds consciousness is prepped for going on TV and talking about the benefits of their service, that's currently a plus.
The richest countries in the worlds citizens don't NEED this tech yet, they might not for decades. The vast majority are totally fine and oblivious to the currently rigged system that's taking advantage of them. Another financial crisis would probably wake up some, but not all. It will be a slow trudge I think.
Slowly but surely though they will come on over, because at the end of the day, it's better. It's just flat out a better money than our current system and over the next few years as the wrinkles get ironed out, it will only gain strength and momentum.
Once we're differentiating between different crypto, this can be said. In the short run I agree that centralized solutions have a definite advantage. It remains to be seen whether in the long run this will shift, and then which crypto will provide real solutions that are effective.
Some crypto is better money, but not all. I'm hoping to see the best money win, but am only cautiously optimistic. How is the introduction of the investment exchange system into the industry distorting who the winners and losers may be? Currency needs to be stable in value to work well, but everyone is looking for coins that will appreciate in value, and trying to even do this with bitcoin.
I'm thinking that good investments may not be good cryptocurrency.
I agree with you.
I think large centralized organizations will even use blockchains internally to become more efficient and automate many workflows related to back office operations and accounting. These will not be public but will orove the legitimacy of the technology and will help in increasing adoption for public blockchains that are used in the best interest of its communities.
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They have already been attempting to do that and abandoning the projects, because they discover blockchain does not increase their efficiency. To the contrary, it is less efficient than the databases they already have. Since they are centralized, all they really need is a username and password for security. They don't need consensus or any other blockchain features. They can write code that approximates smart contracts to automate without needing a blockchain. Databases will continue to advance to meet corporate needs, but not as blockchains.
Dear @indigoocean
I also like watching Andreas speaches. He brought so much value into this space.
Well. All benefits coming from removing that 3rd party are actual reasons. I think.
Currently it seem that @Ned doesnt want Steemit to exist much longer and he would rather focus on developing STEEM blockchain only :(
ps.
I've been surfing youtube a while ago and I've found one influencer which content I found very valuable and interesting. Especially if you're planning to be an influencer yourself.
It's min long but first 2 min are enough. Check it out:
And ENJOY your NY Celebrations.
I believe that 2019 will be difficult and challenging. Hope you will go through it without any real difficulties. I was really a pleasure to get to know you this year.
Yours
Piotr
Ned wants to focus on the backend and not the frontend, which is fine. That's a legitimate decision. He hasn't been very good at developing the frontend, so best to leave that to those who excel there. Hopefully he will be good at managing the increasing decentralization of the backend while still keep things stable enough in the process for the overall project to succeed.
I'm not a Gary V. fan and also am not even remotely interested in becoming any more influential than I already am. My approach is the opposite of his, really. But I'm glad some people find him motivating. It's good to find motivation wherever it can be had.
I hope you have a fabulous 2019 yourself. Great to "meet" you.
Hi @indigoocean
oh so you knew Gary V. before? Somehow I cannot watch most of his videos but this particular one I enjoyed.
Would you mind telling me what is your approach?
I like the most that he underlined how important it is to engage with your audience. That's partly why I decided to share this video with several people (you included).
All the best
Piotr
In all honesty, I didn't watch the video. I don't like Gary V. Yeah I'm quite familiar with him because I used to be a business consultant and he's a very popular business guru, so his stuff is all over the place. I would sum up our difference as that he is for motivation (to the point of self-abuse) while I am for inspiration. I believe in leaving room for the magic.
I think decentralisation isn't all perfect, overtime I've noticed that some of it's imperfections may even be lethal to the future of blockchain and other institutions in general, just my opinion though.
It seems to depend on what you're after. Why is blockchain being used instead of a regular database? If there isn't a good answer to that question, you get the downside without enough upside.
I think you will have to go with your sentiments in choosing what altcoin to invest in longtime because decentralisation is still a work in progress.
Yeah, it probably is a bit early to really predict. I can see that some projects are not good investments, because blockchain just makes no sense for what they're doing. But it's harder to say what is good, and also good in what time horizon? XRP is probably a great investment within the next year or so (unless the SEC declares it a security). But in 5 years?
It's hard to judge whether the market will become more sophisticated in understanding why a crypto project is worthwhile or not. And according to what timeline. Perception governs reality in a free exchange market.
Yah!!!
Wow. Im so impressed by you @indigoocean
It seem that you reply to every single comment. Love it!
Yours
Piotr
I enjoy the thoughts of my readers who comment, so definitely like to fully explore the conversation.
@indigoocean we appreciate you donation/ kind hearted gift to @girlsfoundation and we hope that your source never runs dry. Thank you for supporting our project.
We apologize for dropping a comment not related to your article, we just can't help but express our gratitude.
I'm happy to help support your work. Happy holidays and have a great 2019!
But it is a step in the right direction at least.
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