Doge In My Pockets says "The rising argument against cryptos goes something like "cryptocurrencies are worthless but the blockchain is good. How would you respond to this?"
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
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Original date of upload: December 14th 2017
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It’s such a funny thing but I’d definitely understand that the individual saying this has little knowledge of crypto currency and blockchain . Block chain and crypto currency are inseparable and believe me what makes block chain good is the crypto currency.
Yep, they go hand in hand. Warren Buffet is soooooo wrong. That Ol' man has not a clue about Crypto. Stick to what you know Ol' man. Well that's what he said. I know Crypto ;-)
I disagree. Buffet knows EVERYTHING about crypto but is using simple propaganda and his enormous influence to attempt to stop it affecting his traditional investment vehicles and thus upsetting his shareholders. He can perhaps stem the tide now, but will find it much more difficult as the wave of crypto grows.
True. They would love to take it down I am sure of that. Berkshire has 100's of billions invested into the legacy banking system. Mass Crypto adoption is inevitable no matter what they do are say now.
Totally agreed. They are so huge they can't adapt, so as you say....
Sooner or later they're going down :-)
What hogwash! If Buffet believed Bitcoin was a threat he would invest in it . Say what you like about Buffet but you cannot have it both ways. Either he doesn’t understand it and he is missing the boat or he does understand it and he is right to avoid it. But to say that he knows it is destined to triumph but has decided to fight it rather than invest in it is ridiculous. He is not stupid, although some of his political views may be.
Yeah he really should stick to what he knows and stop thinking he knows Crypto when he can’t even see the new horizon crypto is setting
So, basically, they're tied because blockchains need incentive and cryptocurrencies are the incentive? Hmm, what about corporate blockchains with "proof of something" that is not proof of work or stake that are able to maintain a blockchain without consuming so many resources?
The incentive would be keeping the company's database and registry online all the time with the added benefits of redundancy and security. Cryptocurrencies could be added on top to help finance the company, but I don't see it as necessary in this case. What would you say would be the relationship then?
I think that the argument against cryptocurrencies is that blockchains have many uses away from cryptocurrencies, although I'm not very well-versed in these uses.
If blockchains are used like that it nothing more than just more expensive less private database. Privacy to blockchain gives scales worse than bitcoin pre segwit use....
Sorry, but I did not understand what you said at all.
Let me rephrase the comment. If blockchains are used by businesses it be nothing more than just more expensive, less private database. Privacy to blockchain gives scales worse than bitcoin pre segwit use....
However the idea of the blockchain is to get rid of business but creating a self reliant system. The business that do last just make it easier to use or use the blockchain smart contracts to sell their own goods without worrying about anything else. A business itself using it own blockchain is dumb
Yes Sir, can't have Blockchain without Crypto. What is possible is a private Blockchain with user adjusted controls that ultimately settles onto public Blockchain that is secured by coins either mining (POW) or some type of consensus staking mechanics like DPOS, DBFT or POS (Casper). Blockchain cannot be secured without the TOKEN! :-)
I could have saved the banks 100's of millions of fiat money if they would have hired me a few years back. I could have easily explained them this but the question is are they listening then or even now? Probably not. I still hear its a fad, a bubble that surely can't last. Sounds like the early days of the Internet does it?
Crypto currencies keep the Blockchain secure. It will be completely contradictory to make that statement that Blockchain is good but crypto currency is bad. The bitcoin Blockchain basically compensates for the things such as mining risk and the consumption of electricity There will be ways to secure a blockchain without proof of work.
POTENTIAL bitcoin investors have been advised not to waste their cash on the cryptocurrency by one financial guru who made millions from it. lol how sarcastic, cryptos and blockchain are like bread and butter, one has to go with the other
im tired of people saying bitcoin is bad and blockchain is good. its the same shit
Sounds like, "Wind is bad, but air is good."
If they say it literally like this, than they just have no idea what they are talking about. If you told them that bitcoin makes secure the blockchain technology they would be even more confused lol. This people are obviously in denial.
I agree! Bitcoin itself is the security of blockchain. I keep seeing these people such as Peter Schiff saying blockchain has future, but bitcoin is a fraud it will go to zero. His argument is that you can’t physically hold it.
Exactly! I honestly think the people who say things like that:
The funniest part - when you ask these people how would you "Invest in blockhain, but not bitcoin (or others)" They have no idea how to answer that! Think about it... "Yeah, you should invest in blockchain, but not the most well-known, disrupting, cutting-edge application that is built on it..."*
This is the stereotypical response of the "highway men" who control the "rentier" economy. In this respect control is the operative word as cryptos are the ways that individuals can regain sovereignty and control of their money and not watch it being inflated away by the machinations of the 1%.
The arguments of the banksters are constantly deteriorating, they are now talking about baby brains :)
It's fun to enjoy. The videos are so amazing. Blockhain I think remains the best to date, but the controversial bitcoin happens because it has not shown the best so the experts held a consensus a few days ago. Regards!
Blockchain is amazing, there is no doubt. Although Bitcoin as a currency has many things to improve, I think your answer was very good, I had not analyzed the issue from that point of view. The biggest and safest Blockchain is the bitcoin's one because this cryptocurrency is the incentive to keep it that way, so blockchain is dependent on bitcoin.
Thats very informative video @louisthomas, you are right.
Blockchain is more secure than bitcoin. Blockchain secure the our money, because peoples send and recieve money from one another.
Through blockcahin we invest in any cryptocruncy.
Sir @louisthomas,
Blockchain is the safest way. To keep the privecy and security blockchain is tge best. Thanks for sharing the video sir. Best of luck sir. Waiting for the next from you.
The reality proves who needs more.
Blockchain remains the best, I think no one deny it. However, Bull was too long to break so he forgot how to run and gore. We also know that experts have tried to make bitcoin even better. Let's wait ...
Same old mantra again and again. Bitcoin is bad, blockchain is good.
I'm getting more money invested into the system where's they called it bad or good, you are always good with giving us update which is up-to-date, I find your research work valuable always with your own perspective view on issues @louisthomas
To me bitcoin or any related crypto currency will always be good since I'm making a living off it, bitcoin could not be said to be based on individual opinion on it, I'm getting more money invested into the system where's they called it bad or good, you are always good with giving us update which is up-to-date, I find your research work valuable always with your own perspective view on issues @louisthomas
yeah now i also called "Bitcoin is Bad, Blockchain is Good"
My response to your statement (sorry I haven't watched the vlog!) is that they are simply a financial implement very similar to traditional shares., except of course they carry less regulation.
I don't understand how anyone from traditional financial markets, where they sell 'futures' and gamble on the price of pork bellies for gods sake, could criticise crypto....except for our big kicker which is that the blockchain is tranparent :-)
OK. So they are one and the same. Are they both good ....or both bad ?
It’s clear that the people criticizing crypto haven’t even tried to educate themselves on the technology.
Bitcoin is the most successful example of Blockchain - people just don't understand that.