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Discussion on: Explain Blockchain like I am Five

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bacloud22 profile image
aben • Edited

Ok friend, this is my opinion because it might be so exotique to some.
But first let me correct my statement, it is impressive mathematics and could have it's usage. As we see in Blockchains and decentralised contracts.
Once upon a time, humans exchanged favours and values, you give me meat because you have good meat and I give you bread instead. That's raw value.
Then we wanted to make it easier so we created a middle universal value which was gold (rare, cannot be reproduced, solid to nature changes, and dividable to some extent: units). But we thought let's make an easier universal exchange value, which is money like dollar, and through democracy we have confident in people printing money to regulate it's value, inflation and so, so it always fulfill its goal which is an exchange facilitator (not value by it self, just papers).
Then comes bitcoin claiming it has the same properties of the dollar or other currencies. It is decentralised though and grows from nothing (by calculations which hurt the planet by the way) and it spawned from nowhere and very quickly and gained so much value. But did it get it's value properly? Yes it did it's rare, dividable to some extent, ... So we came to the conclusion it is real money that could be used and my statement was relative. But let's remember how it spawned from nowhere, some people somewhere acquired huge amounts of it just because they were the earliests, and one person or a group has a huge amount of it (Satoshi has 48billion dollars), and in real world who adopted it ? Nearly no body, you are not going to buy anything like real estates, or even go to restaurants with it. Only cheap gadgets and drugs and so. (I forgot you could in fact make an expensive ~~innovative project because of EU money, or this or that power hungry structure)

It is real value that comes with so much headaches and even pains. The crypto community is full of excited teenagers who are if you give them 200€ a day you are already making them broke.

So for me I don't like it, neither see it will persist. But again my statement was wrong maybe because this is like a feeling rather than a proof

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bacloud22 profile image
aben • Edited

I was talking about bitcoin and not Blockchain because bitcoin seems to me the most "useful" practical case.
And again I have this bottom up view, so someone on ease, could play and speculate with it. Someone on Uber byke is creating raw value and thinking if he could fulfill house electricity (in a "hot" world).