RE: Bitcoin (BTC) Evening Update: Something BIG...a HUGE Price Move is Approaching!!
@Heajin, I have, what I think is, a very basic technology question for yourself and others on your blog. Not sure. I also follow other blogs with interest in cryptos and feel that those that participate in this blog are maybe a bit kinder or open minded than some others, so I feel safer in asking what could be a very ignorant question. Again, not sure.
So many people are interested in the technology of "Blockchain", but to me there is no way to invest in it outside of Cryptos.
The big question to me is can you separate the two? Can you have a blockchain outside of cryptos? Can you have Cryptos outside of Blockchain?
At the moment, I surmise that in order to have Blockchain tech, you need Cryptos to run it.
True? not True? Too basic an understanding? For all those that take the time to read this, please let me know your thoughts and viewpoints on this matter.
I am curious on so many levels, and for so many reasons. First of all a definitive disgust in the current banking/government oversight system.
Thoughts are genuinely welcome:)
A blockchain is nothing more than a public ledger, a system of checks and balances. It can be used to store any type of data, including but not limited to-- biological/genetic information, private encrypted data, 'currency' and a plethora of other options. Check out some of the interesting ICOs and where they are taking the idea of the Blockchain. Many of the 'tokens' aren't meant to be 'coins' at all.. but rather, fuel to drive a new decentralized system.
The banks are trying to use blockchain for interbank payments. It'll work. But the KEY IS IN THE CENTRALIZED or DECENTRALIZED. A blockchain used by a centralized entity is a loss of its value.
Blockchain used by a decentralized entity is most powerfully using all of blockchain value.
Hi bluedog1,
Cryptos are not purely currency, although that is where they started. By far and away the most exciting developments are Etherium, Bitshare, Eos, Neo etc which are the future platforms that everything will be built on. These will be part of everyones life in the future in one form or another. Things like smart contracts, bio tech, AI, machine learning.
The big money may not be in Crypto Currencies,but in the companies that will enable the blockchain to become mainstream. i.e. the companies that build the next level of microchip, that will have the power and processing capabilities to match the blockchain.
The banks are trying to use blockchain for interbank payments. It'll work. But the KEY IS IN THE CENTRALIZED or DECENTRALIZED. A blockchain used by a centralized entity is a loss of its value.
Blockchain used by a decentralized entity is most powerfully using all of blockchain value.