I'm becoming convinced that "the real innovation isn't bitcoin, it's the blockchain" is total nonsense.
-
-
Replying to @binarybits
(1) If there's value in Bitcoin, it's in the ability to move value purely programmatically, without the complexity of intermediaries.
4 replies 16 retweets 36 likes -
Replying to @binarybits
(2) Most of the people who say the blockchain is the real innovation envision moving conventional assets like stocks or real estate instead.
4 replies 5 retweets 14 likes -
Replying to @binarybits
(3) But doing transactions using physical assets makes the problem harder, not easier.
3 replies 7 retweets 14 likes -
Replying to @binarybits
(4) If blockchains aren't useful moving around their native, weightless unit of value why would they be good for moving more tangible stuff?
6 replies 22 retweets 24 likes -
Replying to @binarybits
(5) Which isn't to say that a successor technology won't supercede Bitcoin. Lots of room for technical improvement e.g. bigger blocks.
3 replies 5 retweets 8 likes -
Replying to @binarybits
(6) But I find it hard to imagine Bitcoin failing as a cryptocurrency but succeeding as a weird way to move other assets around.
8 replies 10 retweets 24 likes
And the killer: the blockchain only works because miners are rewarded with bitcoin. Blockchain = Git + mining rewards.
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.