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Web 3.0 (Ethereum) is happening, and most people have no idea what it even is.

daivey

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they said the world was going to change when Bitcoin became popular... world still the same. going back to bed.
 
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MJ DeMarco

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they said the world was going to change when Bitcoin became popular... world still the same. going back to bed.

The said that about the internet too, and the world did change.

So we're looking at 50/50 -- about where I stand on this with my current knowledge.
 

Kade

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they said the world was going to change when Bitcoin became popular... world still the same. going back to bed.
Who is they?

Edit: I think it will take off but it is way ahead of time. Just the right time to get in on it :)
 
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Mineralogic

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The said that about the internet too, and the world did change.

So we're looking at 50/50 -- about where I stand on this with my current knowledge.

MJ- did you see the 86 new companies who aligned with Ethereum? Bitcoin has none of this support or momentum other than its "price"
 
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daivey

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The said that about the internet too, and the world did change.

So we're looking at 50/50 -- about where I stand on this with my current knowledge.

yeah I get that, but in 1990, people didn't have the internet, or access to information like we do now. The amount of information available to us because of the internet helps us see the future of possibilities much easier. In 1850, no one knew what an airplane was.. they couldn't even Dream it. Today, we can actually dream about future things... What I'm trying to say is that I can sit here and visualize what a space ship is... I can sit here and visualize what the cure for cancer is... I can sit here and visualize what teleportation will be like. I can sit here and visualize what a city on the moon is...... someone in 1850 couldn't. Not because they weren't smart, but because they didn't have access to 6 billion people on the internet in a second, that could share crazy ideas, explain crazy ideas/concepts, and create these ideas using computer technology.

So the argument "they said that about the internet" to me, doesn't hold true today... sure, my mom who is technologically inept might say something like that.

my point here, where I'm trying to go with it is this:
Right now the markets are looking for SPEED.
Speed to market
Speed to spend money
Speed to get things transferred around the globe
Speed... and to really explain what speed is - not just going fast - but using computers, phones, etc and being able to do what you want fast.

So then enter this block chain .
speed is slow....... argument is that in a few years, speed will come... Ok... so block chain speed will come. cool... so what about all the other techs out there that are not block chain that are being developed? Why is blockchain better??? cause of encryption? because it can't be "hacked" as easily? I disagree with that.

how does Ethereum help me use my iphone to buy things faster from an end user?
how does ethereum help Apple implement apple wallet better?
how does a company with a web presence using Ethereum to sell more goods?
how does a company use Ethereum to reduce it's costs
how does an individual use Ethereum to better their lives?

The only answer I've seen on these forums "micro contracts"....... Why not just get an app? E.g. Uber? how does Ethereum beat Uber? So maybe UBER will use Ethereum in the back end - some sort of "block chain" technology/concept that they model around Ethereum, but why would anyone then user "ETHER" coins???

the pumpers are talking about Ethereum like it will replace the USD.
 

Mineralogic

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yeah I get that, but in 1990, people didn't have the internet, or access to information like we do now. The amount of information available to us because of the internet helps us see the future of possibilities much easier. In 1850, no one knew what an airplane was.. they couldn't even Dream it. Today, we can actually dream about future things... What I'm trying to say is that I can sit here and visualize what a space ship is... I can sit here and visualize what the cure for cancer is... I can sit here and visualize what teleportation will be like. I can sit here and visualize what a city on the moon is...... someone in 1850 couldn't. Not because they weren't smart, but because they didn't have access to 6 billion people on the internet in a second, that could share crazy ideas, explain crazy ideas/concepts, and create these ideas using computer technology.

So the argument "they said that about the internet" to me, doesn't hold true today... sure, my mom who is technologically inept might say something like that.

my point here, where I'm trying to go with it is this:
Right now the markets are looking for SPEED.
Speed to market
Speed to spend money
Speed to get things transferred around the globe
Speed... and to really explain what speed is - not just going fast - but using computers, phones, etc and being able to do what you want fast.

So then enter this block chain .
speed is slow....... argument is that in a few years, speed will come... Ok... so block chain speed will come. cool... so what about all the other techs out there that are not block chain that are being developed? Why is blockchain better??? cause of encryption? because it can't be "hacked" as easily? I disagree with that.

how does Ethereum help me use my iphone to buy things faster from an end user?
how does ethereum help Apple implement apple wallet better?
how does a company with a web presence using Ethereum to sell more goods?
how does a company use Ethereum to reduce it's costs
how does an individual use Ethereum to better their lives?

The only answer I've seen on these forums "micro contracts"....... Why not just get an app? E.g. Uber? how does Ethereum beat Uber? So maybe UBER will use Ethereum in the back end - some sort of "block chain" technology/concept that they model around Ethereum, but why would anyone then user "ETHER" coins???

the pumpers are talking about Ethereum like it will replace the USD.


dude, this sounds like you are convincing yourself. don't buy then sheesh
 

MJ DeMarco

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did you see the 86 new companies who aligned with Ethereum?

Again, I haven't studied the technology to make any opinions for or against. The fact that it has gained attention of many large companies does give credence to the idea it isn't just a trendy thing to talk about for the next 6 months.
 
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DavidK

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Hello, thank you everyone for all the valuable information provided. I am excited about the potential of this technology, but one never knows if something will catch on or not even though signs appear good so far. As such, I think it is something to at least be aware of and keep in mind.

Besides investing, it appears that FL opportunities exist in the development of decentralized apps. My understanding is that the language Solidity is used to create apps on the Ethereum blockchain. Does anyone have experience learning Solidity and or developing DApps and would be willing to share?

Thank You
 

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Hello, thank you everyone for all the valuable information provided. I am excited about the potential of this technology, but one never knows if something will catch on or not even though signs appear good so far. As such, I think it is something to at least be aware of and keep in mind.

Besides investing, it appears that FL opportunities exist in the development of decentralized apps. My understanding is that the language Solidity is used to create apps on the Ethereum blockchain. Does anyone have experience learning Solidity and or developing DApps and would be willing to share?

Thank You
I'm learning solidity on my spare time and researching stuff for Dapps. ;)
 

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If we read Un-scripted, we know that money (fiat currency) is a place to store value.

Block chain is the underlying technology to store value digitally, securely and decentralized. With it, people store the values in digital currency (BitCoin) and digital smart contract (Ethereum). There are many other applications of block-chain technology. These two are the two popular applications of block-chain.

How the blockchain is changing money and business

View: https://www.youtube.com/watch?v=Pl8OlkkwRp


How the blockchain will radically transform the economy
View: https://www.youtube.com/watch?v=RplnSVTzvnU


Hope this help.
 
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boyZ0ne

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If we read Un-scripted, we know that money (fiat currency) is a place to store value.

Block chain is the underlying technology to store value digitally, securely and decentralized. With it, people store the values in digital currency (BitCoin) and digital smart contract (Ethereum). There are many other applications of block-chain technology. These two are the two popular applications of block-chain.

How the blockchain is changing money and business

View: https://www.youtube.com/watch?v=Pl8OlkkwRp


How the blockchain will radically transform the economy
View: https://www.youtube.com/watch?v=RplnSVTzvnU



Hope this help.

The link to the 1st video is not working.
Here is the correct link

How the blockchain is changing money and business
View: https://www.youtube.com/watch?v=Pl8OlkkwRpc
 

windchaser

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Very interesting thread!

I am a big fan of the blockchain technology and I truly believe it is the future, and I am not the only one. Actually banks are investing big money in companies developing blockchain technologies (although I think they do it in part as a hedge in case it is extremely successful and they are left out the game).

As for Ethereum it looks very promising but in my opinion, it is still a bet.
At the end, and part of the beauty of the blockchain technology, is that its value follows a similar logic as a social network, the more people it use it the more valuable. But that could also through its value close to zero (not the value of the technology but the value of that particular application), depending on how you invested on it.

I believe the technology is here to stay but the vehicle through which it would be successfully implemented is not so clear. Ethereum is a likely candidate but it is still too early to tell!
 

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Excerpt from HBR: The truth about block-chain

The Truth About Blockchain

"TCP/IP unlocked new economic value by dramatically lowering the cost of connections. Similarly, blockchain could dramatically reduce the cost of transactions. It has the potential to become the system of record for all transactions. If that happens, the economy will once again undergo a radical shift, as new, blockchain-based sources of influence and control emerge.

Consider how business works now. Keeping ongoing records of transactions is a core function of any business. Those records track past actions and performance and guide planning for the future. They provide a view not only of how the organization works internally but also of the organization’s outside relationships. Every organization keeps its own records, and they’re private. Many organizations have no master ledger of all their activities; instead records are distributed across internal units and functions. The problem is, reconciling transactions across individual and private ledgers takes a lot of time and is prone to error.

For example, a typical stock transaction can be executed within microseconds, often without human intervention. However, the settlement—the ownership transfer of the stock—can take as long as a week. That’s because the parties have no access to each other’s ledgers and can’t automatically verify that the assets are in fact owned and can be transferred. Instead a series of intermediaries act as guarantors of assets as the record of the transaction traverses organizations and the ledgers are individually updated.

In a blockchain system, the ledger is replicated in a large number of identical databases, each hosted and maintained by an interested party. When changes are entered in one copy, all the other copies are simultaneously updated. So as transactions occur, records of the value and assets exchanged are permanently entered in all ledgers. There is no need for third-party intermediaries to verify or transfer ownership. If a stock transaction took place on a blockchain-based system, it would be settled within seconds, securely and verifiably. (The infamous hacks that have hit bitcoin exchanges exposed weaknesses not in the blockchain itself but in separate systems linked to parties using the blockchain.)"
 
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ArtRyumin

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nice to see a crypto /ETH thread started on here, i do believe crypto currencies are going to the a huge fastlane, there is a big learning curve i'd say but once you get it it's get's a lot simpler and the ROI's ...i never seen anything like it and wonder if something of the like will happen again in my life time so to me it's one of those things i'm FOMO about. Hearing stories like "if you'd invested x amount into microsoft/apple etc" back in x you'd be a multi millionaire by now.

I want to be one of they guys they refer to as the guys that invested x amount into crypto currenties is now a multi millionaire.

Here's what people who took the time to learn this space are experiencing.
I Just Became a Crypto Millionaire • r/CryptoCurrency

If any one here is in application development, our company has been working on a solution for the construction/H&S industry and we're now looking into adding the block chain to our solution creating a block chain application. Any one with any experience, interest to be involved some how feel free to get in touch.

Good luck to those who are playing in this space and hope more people go through the learning curve and determine if it's something they can invest in. Wish i was around or had the opportunity to be apart of some of the worlds current systems back when they were at this hatchling stage.
 

LifeTransformer

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you actually pointed out one of the big risks to any of these coins, other coins can be infinitely created out of thin air, ICO's out of thin air with no working business model, etc. However which ones are gaining traction? Its obvious now Bitcoin does not maximize the BLOCKCHAIN potential at all

People are moving onto others or relooking at others again. I see companies switching to Litecoin now, frustrated with Bitcoin and their issues.

Ethereum is the clear leader on smart contracts and many other avenues right now

Other coins out of thin air? Yep, that can happen, but they're called "shitcoins" for a reason.

ICOs out of thin air with no business model happens too (some are just plain scams), but one called MobileGo just recieved something to the tune of $45m in ICO funding.

What do you mean "Bitcoin does not maximize the BLOCKCHAIN potential at all?

If you're talking about what I think you are, look up some of the more recent news on that issue. It appears to be being solved.

LiteCoin does have potential, they have the Lightning network and SegWit activated, yet it's still only deemed to be worth $30-$40 a coin.

I use the Ledger Nano S.

I have just ordered one of those, looking forward to trying it out. :)

I've been thinking about some other potential uses for the blockchain tech. Some of these may already be in progress as far as I know.

Twitter could end up dead in the not too distant future, why? Not just because of its lack of growth in recent time, but because of this: https://steemit.com/

What other social media platforms could be usurped with a blockchain solution? Facebook perhaps? What about Flickr, Tumblr, and YouTube (mentioned Singular DTV above, there is also Library Credits), or maybe a new Reddit? Plenty of scope here in my view.

Quite a lot of eCommerce stores can now take BitCoin, Ether etc. as payment, but could a massive giant like Amazon, or Ali Express be killed off with a blockchain based ecommerce mega store? I'm not saying it would be easy, but wouldn't mind betting it could be done.
 

JourneyToAbundance

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I found this blog post on potential use cases for Ethereum helpful. Usually with any new piece of technology, I try to understand the key use cases using examples that we all can understand.

Two of the four principles that I've been following to determine if a piece of technology has potential
  1. distributed data processing systems vs. centralized data processing systems. We are moving towards a world based on the internet of things where distributed data processing systems will dominate. For instance, the days for us being held hostage by the three credit bureaus are numbered: Experian, TransUnion, Equifax. Why should cancelling a credit card lower your credit score? An Ethereum based platform can allow us to control our own data, identity, and reputation. It will be extremely difficult for hackers to hack the identities of each person one-by-one. But, if you use a centralized service like google or facebook, they just have to hack that one central processing system to impact hundreds of millions of people. Decentralization is important because it removes single points of failure or control.
  2. Connect all devices to a monetizing system that pay users directly with no middle man.
  • Monetizing data processing time and storage: There are hundreds of millions of computers out in the world that are idle and do nothing. Imagine you can devise a platform to borrow compute power and pay users directly for compute time. Ethereum can help do that.
  • Excerpt from blog post mentioned above. "For example an individual wants to purchase a home from another person. Traditionally there are multiple third parties involved in the exchange including lawyers and escrow agents which makes the process unnecessarily slow and expensive. With Ethereum, a piece of code could automatically transfer the home ownership to the buyer and the funds to the seller after a deal is agreed upon without needing a third party to execute on their behalf."
 
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bitcoins

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Other coins out of thin air? Yep, that can happen, but they're called "shitcoins" for a reason.

ICOs out of thin air with no business model happens too (some are just plain scams), but one called MobileGo just recieved something to the tune of $45m in ICO funding.

What do you mean "Bitcoin does not maximize the BLOCKCHAIN potential at all?

If you're talking about what I think you are, look up some of the more recent news on that issue. It appears to be being solved.

LiteCoin does have potential, they have the Lightning network and SegWit activated, yet it's still only deemed to be worth $30-$40 a coin.



I have just ordered one of those, looking forward to trying it out. :)

I've been thinking about some other potential uses for the blockchain tech. Some of these may already be in progress as far as I know.

Twitter could end up dead in the not too distant future, why? Not just because of its lack of growth in recent time, but because of this: https://steemit.com/

What other social media platforms could be usurped with a blockchain solution? Facebook perhaps? What about Flickr, Tumblr, and YouTube (mentioned Singular DTV above, there is also Library Credits), or maybe a new Reddit? Plenty of scope here in my view.

Quite a lot of eCommerce stores can now take BitCoin, Ether etc. as payment, but could a massive giant like Amazon, or Ali Express be killed off with a blockchain based ecommerce mega store? I'm not saying it would be easy, but wouldn't mind betting it could be done.
There already is a new "Reddit" called Steemit. Steemit pays with Steem which is usually in the Top 20 or even Top 10 highest volume crypto coins out there. There's definitely a lot of potential with social media platforms paying in crpyptocurrency and rewarding users for content creation, curation, investing money, etc. Even just integration with crypto makes it nice considering the more traction, the more momentum a platform gains the more $$$ to be made long term. I definitely think the bigger coins out there are ETH, XEM, XRP, Steem to name a couple. Steemit has a nice engine behind it, where I think plenty more crypto's will follow suit soon. Zaapl is kind of like the next Twitter I guess you could say, but we'll see whether or not it gains traction.
 

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yeah I get that, but in 1990, people didn't have the internet, or access to information like we do now. The amount of information available to us because of the internet helps us see the future of possibilities much easier. In 1850, no one knew what an airplane was.. they couldn't even Dream it. Today, we can actually dream about future things... What I'm trying to say is that I can sit here and visualize what a space ship is... I can sit here and visualize what the cure for cancer is... I can sit here and visualize what teleportation will be like. I can sit here and visualize what a city on the moon is...... someone in 1850 couldn't. Not because they weren't smart, but because they didn't have access to 6 billion people on the internet in a second, that could share crazy ideas, explain crazy ideas/concepts, and create these ideas using computer technology.

So the argument "they said that about the internet" to me, doesn't hold true today... sure, my mom who is technologically inept might say something like that.

my point here, where I'm trying to go with it is this:
Right now the markets are looking for SPEED.
Speed to market
Speed to spend money
Speed to get things transferred around the globe
Speed... and to really explain what speed is - not just going fast - but using computers, phones, etc and being able to do what you want fast.

So then enter this block chain .
speed is slow....... argument is that in a few years, speed will come... Ok... so block chain speed will come. cool... so what about all the other techs out there that are not block chain that are being developed? Why is blockchain better??? cause of encryption? because it can't be "hacked" as easily? I disagree with that.

how does Ethereum help me use my iphone to buy things faster from an end user?
how does ethereum help Apple implement apple wallet better?
how does a company with a web presence using Ethereum to sell more goods?
how does a company use Ethereum to reduce it's costs
how does an individual use Ethereum to better their lives?

The only answer I've seen on these forums "micro contracts"....... Why not just get an app? E.g. Uber? how does Ethereum beat Uber? So maybe UBER will use Ethereum in the back end - some sort of "block chain" technology/concept that they model around Ethereum, but why would anyone then user "ETHER" coins???

the pumpers are talking about Ethereum like it will replace the USD.

What do you mean "speed is slow" on the blockchain?
A purchase with bitcoin takes as much time as with a credit card, the transaction is done in seconds.
It takes 10min for the blockchain to confirm that transaction, but you don't need that confirmation for small every day transactions or with a trusted party.
You can try it yourself at some coffee shops that accept bitcoin.
You can send someone bitcoin across the world in a couple seconds at a much cheaper rate than Western Union, wire transfer, etc. That's faster and cheaper.

That's just bitcoin. The blockchain is like an immutable decentralized ledger with many uses beyond cryptocurrency.
Ethereum is a platform that allows people to develop their own blockchain tools.

Here's an example using the blockchain to save a company time and money:

"
The shipping company Maersk has now announced that it has been working with IBM to use the blockchain to keep track of shipments as they’re hauled across the seas. This isn’t the company keeping track of the metal boxes themselves, but rather their contents. The company claims that a single container being hauled from East Africa to Europe might require paperwork to be dealt with by as many as 30 different people, spread across 200 or more interactions.

So with IBM it’s built a tool based on blockchain that allows every participant in a supply chain to see the progress of a shipment, including where the container is and the status of its documents. The hope: shippers reduce the weight of paperwork that needs to be done, while customs officials and clients can see where goods are at all times. So far, shipments of flowers from Kenya, mandarin oranges from California, and pineapples from Colombia have all been tracked using the tool as they flowed into the port of Rotterdam in the Netherlands.

Maersk isn’t alone in using the blockchain to keep track of stuff. As the New York Times points out in a long piece describing IBM’s foray into blockchain, Big Blue is working with 400 different organizations to apply the technology to different situations. That includes Wal-Mart, which announced last year that it was using blockchain to record and log the origins of produce in order to improve health and safety standards."

The world’s largest shipping company is trialing blockchain to track cargo

Then again - maybe IBM, Wal-Mart, Microsoft, suck at innovation and creating value. Why didn't they "just use an app...like Uber"?
 
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I've started to look more into Ethereum over the past few days because of this thread and I'm completely in awe with the potential this technology has. Not only could it completely eat up Wall Street, it might have the capacity to disrupt the biggest industries in ways we never thought imaginable (unless a better, simpler, more efficient technology surfaces in the meantime).

With that being said, I have a couple of questions and I would love you guys @parkerscott @JScott @Coalission to give me your opinion and thoughts on these, as you guys have been doing such a great job educating me on the subject basically lol.
  1. For starters, if Ether/Bitcoin as cryptocurrencies are to be tokens of future value exchange, then the ‘quantity’ of these tokens, for global liquidity, have to equate to world trade volume. For example, if trade total stands at $US19 trillion, then are we expecting the total tokens to equate to this value ?
  2. Have we usually seen a $20 paper bill presented at a cash register but honored as $17 on one day, then $24 the next ? Sure, purchasing power changes. But, specifically, there is no change in the face value presented at the time of purchase.
  3. Poor people need access to whatever anoints itself as a currency of the future. Can a poor farmer making less than the spot value of a Bitcoin/Ether in a month live daily using bitcoins ? All people, rich & poor, require it’s immediate availability to purchase food, shelter & life’s requirements. The paper money in circulation today solves the availability problem. It’s doesn’t require internet access, computers, hashed addresses etc.
  4. Speculating on something, by itself, implies the ‘face value’ of that changes over time based on greed etc. In other words, the currency itself is NOT fair to people since it’s meant as a target of speculation to make profits like a commodity, whereas it was meant to represent value exchange free from capitalistic speculative corruption. Any open market system that promotes itself as a currency but is traded & speculated on daily will be guaranteed to be abused by open market mechanics to the detriment of the poor.
I'm 20, in College, and looking into this as a serious 10 year investment I could sit on and get out at 30 years old with a couple of bucks ;)
 

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so IBM and Walmart signed up on to the Ethereum band wagon so that they can create a crypto currency/micro transaction system..?

Yeah, IBM is going to steal the idea, add it to Watson, and resell it as something else.

The name Ethereum will be dead in 5 years, the technology stolen by IBM and incorporated in a whole different level.

i think you guys are putting to much weight on the miracle of the block chain...
like i dont get it, you quote this random shit of tracking a container of items???

how hard is that to do with RFID and a computer program? you need blockchain to do that? not one of you has broken it down as to why it's so incredible because you are just on a badnwagon and don't even understand it yourself.

that's the thing, you don't even get it. you quote a story, but don't understand it..

yeah it's a ledger system. got it. amazing. bro. my mind is blown by a ledger... a ledger that is hard to be hacked, and that all parties agree to it. Amazing. mind blowing.

you should go start a blockchain startup and you can create a blockchain for the pet store down the street to help them create a bulletproof payment/ledger system.

What do you mean "speed is slow" on the blockchain?
A purchase with bitcoin takes as much time as with a credit card, the transaction is done in seconds.
It takes 10min for the blockchain to confirm that transaction, but you don't need that confirmation for small every day transactions or with a trusted party.
You can try it yourself at some coffee shops that accept bitcoin.
You can send someone bitcoin across the world in a couple seconds at a much cheaper rate than Western Union, wire transfer, etc. That's faster and cheaper.

That's just bitcoin. The blockchain is like an immutable decentralized ledger with many uses beyond cryptocurrency.
Ethereum is a platform that allows people to develop their own blockchain tools.

Here's an example using the blockchain to save a company time and money:

"
The shipping company Maersk has now announced that it has been working with IBM to use the blockchain to keep track of shipments as they’re hauled across the seas. This isn’t the company keeping track of the metal boxes themselves, but rather their contents. The company claims that a single container being hauled from East Africa to Europe might require paperwork to be dealt with by as many as 30 different people, spread across 200 or more interactions.

So with IBM it’s built a tool based on blockchain that allows every participant in a supply chain to see the progress of a shipment, including where the container is and the status of its documents. The hope: shippers reduce the weight of paperwork that needs to be done, while customs officials and clients can see where goods are at all times. So far, shipments of flowers from Kenya, mandarin oranges from California, and pineapples from Colombia have all been tracked using the tool as they flowed into the port of Rotterdam in the Netherlands.

Maersk isn’t alone in using the blockchain to keep track of stuff. As the New York Times points out in a long piece describing IBM’s foray into blockchain, Big Blue is working with 400 different organizations to apply the technology to different situations. That includes Wal-Mart, which announced last year that it was using blockchain to record and log the origins of produce in order to improve health and safety standards."

The world’s largest shipping company is trialing blockchain to track cargo

Then again - maybe IBM, Wal-Mart, Microsoft, suck at innovation and creating value. Why didn't they "just use an app...like Uber"?
 
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alwayshungryleh

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Hey guys, this is very very eye-opening for me.I'm a developer, so I'm trying to come in this from a "Let's make a DAPP" perspective

@parkerscott,
Can we please just focus on the technology rather than the price? I could talk about the price all day, but that is not what I want the discussion to be about.

Let me take up your offer on that. Talking about price makes me feel like a wannapreneur.

This is my opinion, you can use ethereum when you need:
1. Trust
Like the earlier video by Coalission. Ethereum is suitable where it is difficult to trust a third party.
How does it translate to the end user? The need is
"I don't want to play on a casino platform where they are going to close down and take all my money away." or "The casino is going to collude with X player and let him win. X player then share the wins with the casino" or any kind of shenanigans like that.

Trustless Poker Video by Coalission

Anything that you have trouble trusting the other person with, you can use this.
That is the gist of smart contract actually.

2. Public Ledger
I think somewhere in the previous post, Microsoft is trying to create a shared database for shipping industry since products will have to be handled by tens of parties. So everyone can just look up at the shared database to track where the physical goods is going.

Anything that needs a public ledger you can use this.

3. On another topic, can anyone enlighten me how Ethereum can be used for microtransactions?

4. Also, how does a developer make money from creating DAPP? How does DAPP earn money for its developers?

Rough ideas on top of my head now:
-Payment for CEOs. Don't give them a golden parachute if they screw up something.
-Buying physical items from a person from another country.
- Accounting SAAS where the books are uncookable
 
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Mineralogic

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Other coins out of thin air? Yep, that can happen, but they're called "shitcoins" for a reason.

ICOs out of thin air with no business model happens too (some are just plain scams), but one called MobileGo just recieved something to the tune of $45m in ICO funding.

What do you mean "Bitcoin does not maximize the BLOCKCHAIN potential at all?

If you're talking about what I think you are, look up some of the more recent news on that issue. It appears to be being solved.

LiteCoin does have potential, they have the Lightning network and SegWit activated, yet it's still only deemed to be worth $30-$40 a coin.



I have just ordered one of those, looking forward to trying it out. :)

I've been thinking about some other potential uses for the blockchain tech. Some of these may already be in progress as far as I know.

Twitter could end up dead in the not too distant future, why? Not just because of its lack of growth in recent time, but because of this: https://steemit.com/

What other social media platforms could be usurped with a blockchain solution? Facebook perhaps? What about Flickr, Tumblr, and YouTube (mentioned Singular DTV above, there is also Library Credits), or maybe a new Reddit? Plenty of scope here in my view.

Quite a lot of eCommerce stores can now take BitCoin, Ether etc. as payment, but could a massive giant like Amazon, or Ali Express be killed off with a blockchain based ecommerce mega store? I'm not saying it would be easy, but wouldn't mind betting it could be done.


you heard me, bitcoin is just a digital asset of limited supply that is traded like hot potatoes and presumed to have value because its a form of money that uses the blockchain. Ethereum the platform and eth it's representative token is a decentralized platform, token currency, and a system that harnesses the blockchain benefits. Eth can be traded like a digital asset just like bitcoin but actually provides way way way, did I say WAY, more potential than BITCOIN itself

Its easy to understand if you do the research.
 

Mineralogic

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I was just talking to my sister the other morning about how blockchaining could be the end of Uber. I wonder if it will be.

it could displace many companies my friend :)

fat cats who don't create value might not survive in the system of the future
 

jpmartin

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you heard me, bitcoin is just a digital asset of limited supply that is traded like hot potatoes and presumed to have value because its a form of money that uses the blockchain. Ethereum the platform and eth it's representative token is a decentralized platform, token currency, and a system that harnesses the blockchain benefits. Eth can be traded like a digital asset just like bitcoin but actually provides way way way, did I say WAY, more potential than BITCOIN itself

Its easy to understand if you do the research.
You're right to say that its a digital asset. Bitcoin could be considered version 1, dash version 2, and eth / ripple version 3. The blockchain technology will continue to improve.
 
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Mineralogic

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You're right to say that its a digital asset. Bitcoin could be considered version 1, dash version 2, and eth / ripple version 3. The blockchain technology will continue to improve.
i say

btc
Ltc
ETH

rest are gambles and late
 

Kade

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Found a relevant thread on reddit about decentralized internet. This is less about Ethereum(TM) and more about changing the structure of the internet.
The whole thread is pretty interesting. Here is a comment that explains how the internet can be decentralized:

The internet we use today is highly centralized, in two ways, each of which some people want to decentralize.

First, is the hardware.

Our home routers are designed for a hub-and-spoke model, wherein your home devices are connected to an "internet provider" who connects in turn to a higher-level provider, and so forth. In this part of the internet, the advantages of a network, a web, are completely lost. If you want to connect to your neighbor down the street, your data goes to your ISP, and possibly somewhere else, before getting to your neighbor's ISP, and then to them. This is despite that fact that there is tremendous unused capacity between your house, and their house, which could get the job done locally, without having to leave your own street. Neither of your ISPs should have to get involved, at all.

Further, it is possible to set up ad-hoc mesh networks so that smartphones can communicate with each other. This has already been done in the real world, during crisis situations when people cannot access regular internet, to enable a way to communicate to others, over WiFi, without any other hardware except the smartphones in the area. I don't buy for a second that this isn't solvable for general use. What's missing here is further support for the concept. And that could mean taking support away from hub-and-spoke infrastructure like cell towers so more bandwidth can be dedicated to WiFi. Obviously there's opposition not just from corporations who profit on hub-and-spoke, but spies who like to monitor it.

Second, is the software.

We could change the hardware right now, and the system would still be centralized. Consider how we use it. Actually consider just Reddit. Reddit is something which ought to be a protocol, so that no matter where you were on the internet, you could leave a comment with your reddit ID, and other redditors would see it, either by following you, following the subject, or following that website. Nobody, in particular the site owner, or admins, or moderators, could block the communication between you and the people who were interested in what you had to say... regardless of what you had to say. By leaving Reddit as a site, it is fundamentally flawed, and is essentially a censorship machine like all the rest. (At least it has the decency to admit when it deletes something, though... but watch for that to disappear)

The comment before yours referred to file storage. Well, decentralized file storage is ALREADY a thing (storj.io, lbry.io) and it's hosting content that others have tried to censor (notably, a series of university lectures that deaf people had censored because they weren't captioned). This is a new concept, but people can be compensated for their storage costs by the people requesting it. It's unlikely that you'd opt to store other people's file fragments on your phone today, but give it a few years.

Keep in mind that the concept of "eat up your bandwidth" doesn't necessarily apply to a mesh model, where you are cooperatively serving the internet to each other.

Here is the link to the comment:
ELI5: In HBO's Silicon Valley, they mention a "decentralized internet". Isn't the internet already decentralized? What's the difference? • r/explainlikeimfive
 

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