/thread

Name one Fortune 500 company that uses blockchain and for what.

Blockchain was heralded as the future back in 2017. Billions of VC money went into it. IBM had an entire division dedicated to finding applications for the technology. Here we are in 2013 there isn't much to show for it, and IBM shut down their blockchain unit some time ago. What do you believe is the reason we haven't seen many large-scale implementation of blockchain across the various industries, even after 94% of Fortune 500 companies said they had blockchain project plans when surveyed in 2018?

Companies "using blockchain" was always mostly hype and nonsense. That doesn't affect Bitcoin, an application for which blockchain is essential.

Resorting to half-assed solution like Lightning Network is all you need to know about blockchain. It is so good that only real Bitcoin improvement in 15 years is not using blockchain at all.

explain to us the math of a blockchain.

every time i ask a reasonable clarifying question on this site, i get banned.

Ok, you can name one Fortune 500 company that uses blockchain.

This many years later I still don't exactly understand the issues it solved. Shifting trust from the institutions to the math/code hasn't worked. The math/code doesn't prove to be the thing that actually keeps you safe when all the lack of regulation basically creates an ecosystem where you can be swindled at all these other levels (honestly the ways you can lose your money in crypto is dizzying).

Large scale crytpo transactions are largely a nightmare to broker (even with multi sig) because nobody trusts anyone frankly.

The whole best performing asset thing you'll get no disagreement from me. But useful? I've not seen the juice be worth the squeeze yet almost anywhere. The most useful thing about is is putting a fortune on a usb key and fleeing some country with your assets.

People thought the internet was going to be a fad

I always felt that we'd likely all be dead by the time it becomes what people who believe in it think it will or can become

Just to be clear, the second part of quoted was referring to BTC, not the internet

First thing I thought of when I made my post, among newspaper headlines I've seen that made similar commentary

The immutability of the block chain and open information + a hard asset like BTC distills capital to its Platonic ideal (making it more efficient).

Anyway, sure you can be swindled, the further the distance between you and your (hard) asset the easier it is for nefarious activity. However, taking custody (and therefore responsibility…) for your asset basically reducing the probability of being swindled to zero.

BTC is also the ultimate abstraction of private property, making it more transferable. Just like how (in some ways…) banking notes were an improvement upon gold.

Also, pretty much everything that comes out of a Keynesian’s mouth is wrong bc they are building upon false premises…

the false premise is to think one side or the other are 100% right while the other is at absolute 0%.
thats called ideology .
i dont believe in absolute truth.
there is more nuances then 1 and 0 .

He did qualify it with 'pretty much'
Still room for some nuance

In what universe?

Even if true, companies clearly did not think that. Again, why not a single tech corporation listed on NASDAQ is not using blockchain?

You really think buncha reddit kids with laser eyes are more competent in the field than senior engineers at trillion dollar companies?

You all keep saying “blockchain is the future” despite all this. On one hand, I cannot believe you could be this detached from reality. On the other hand, reading this thread for years now, I kinda can.

Tesla has 10,000 BTC on their balance sheet.

JP Morgan has been experimenting with blockchain tech for years and is an investor in ConsenSys.

Blockchain tech is still fairly nascent in the grand scheme of things and current adoption is, not surprisingly, mostly based on speculation around potential future use cases.

LOL @ Elon Musk

He also had a ton of Dogecoin

I think the last page was a great opening for someone to explain the utility of the tech in today's world, and largely we never got there.

The 21M, the mining, the portability, and the pseudo anonymity was/is probably why it's all been such a phenomenon. The total lack of regulation too (that might be worth as much as the other 4 combined).

Why does it have to be good at anything else? The second it's useful and not just hodl the laser eyes would lose interest. Believe me it was brilliantly conceived as a growth magnet. Clearly it's foolish in 2023 to argue that.

Of course, the irony here is that this is an absolute statement. The truth / correct position is that in some instances (math, logic, etc) there are absolute truths, in others there can be, and in others still — you are right, the world is not black and white.

Bitcoin is just 0s & 1s

Bitcoin will at minimum be a useful temporary medium of exchanges of value .
Peer to peer application for money .
Just that seem good enough for me for utility purposes .

Ps: it would have been great if bitcoin were that easy in early 2000 for deposit in poker site hoarding bonus all other without the need of passing through many hassle of bank regulation or PayPal and the waiting periods . etc …

Lol @ Elon Musk indeed. But this is typical Bitcoin maxi argument, ignore the actual question and just answer whatever you want.

Q: Why is blockchain useful?
A: Tesla has 10,000 Bitcoin!

Huh?

Why is blockchain tech still fairly nascent 15 years after Bitcoin and over 40 years after Merkle trees?

What is the obstacle to companies using blockchain? You don’t see the irony in CZ shouting “blockchain is revolutionary, all bow to blockchain” while Binance is using traditional databases?