They're busier with a bigger fish.
As for Bitcoin, people can always fork it. Remember to ask the question, "What is money?" I think it's in the interest of the Chinese gov't to extract value from Bitcoin, not destroy it.
99 karma · joined August 27, 2015
As for Bitcoin, people can always fork it. Remember to ask the question, "What is money?" I think it's in the interest of the Chinese gov't to extract value from Bitcoin, not destroy it.
This is where you've made a presumption using your imagination.
This has been ask throughout the history. And we have come a long way since we were duped that Kings, Queens and Popes have "Divine Authority".
However, today, we have been duped again. And just like in the past, people didn't readily realize it. It will take effort and probably blood.
Here's one good relatively recent example when people were finally fed up: https://en.wikipedia.org/wiki/Haymarket_affair
No discussions on this topic huh?
Can you mention one of them? And his/her knowledgable argument.
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> useless fraud!
It's already been used to solve real world problems:
https://www.coindesk.com/the-united-nations-just-launched-it...
Citi and Nasdaq had a blockchain project that is already up and live. Can't find a link, but I swear I've watched it in a blockchain event in youtube.
However, these are small scale use. Afaik, no blockchain is able to scale to creditcard usage yet (and stay secure at the same time). Ethereum Foundation is working hard on this. Not sure about Bitcoin. So as far as ETH goes, there's basis on it's price growth.
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}I wanna note though, regarding crypto exchanges. One does not need to use them to invest. Use your own wallet. Use decentralized exchange if you don't wanna risk using centralized exchange.
People in the industry needs get people to pay more than full price whether they like it or not.
With Ethereum PoS. It is dependent on ETH being distributed to many individuals. If only a few individuals own most of the ETH, then they will then have the power dictate what is the "truth" in the blockchain. Right now, ETH is very well distributed around the whole planet.
As you can see, one is oligarchic, the other is very democratic.
Ethereum is not a Corporation that is designed to make profits. It is non-profit, it's not even a company, it's simply a protocol implemented in Free Software.
If you wanted to be an early investor of facebook and you are a pleb, then you're out of luck. And you should have a big capital to join.
If you wanted to be an early adopter of Ethereum, then you only need an internet connection and a computer. You invest put practically any amount, so any pleb can join.
There's also a law that requires you to be big capitalist before you can do early big investments right?
Pretty sure this is better than stock market.
We'll need to exactly define and agree what it is to be achieve tho. In my view, I think the point has been made and have been heard successfully and have caused the desired punch in the face.
It won't be perfect. But it is definitely tons better than the current capitalism.
Another very important feature here is the ability to easily fork. So if we need to fix something, it can easily be done (no need to wait for an organized citizen revolution)(although this is probably better attributed to the idea of Free Software).
Humans can be rational or irrational. That is how they are born. So far, we can only make tools and books to prevent irrationality.