Posted: Dec 08, 2018 9:56 pm
by Thommo
jamest wrote:Well I couldn't find a single thread about blockchain and only one thread about cryptocurrency, specifically bitcoin, which as stated is not blockchain.


Actually, Bitcoin is block chain, it's just not the only use of it.

jamest wrote:That's a link about bitcoin. :nono:


Yes, it's a specific technical limitation on the primary application of block chain technology, that is directly caused by its use of block chain technology.

In a wider sense it points out the limits on block chain in terms of computing power and, perhaps more importantly, power consumption.

Unlike the link in the OP, it makes actual concrete claims about a concrete application, rather than vague quasi-prophetic promises about applications in potentia. It informs us about the caps on the potential scope of any block chain application and gives some guidance as to the potential costs of using block chain as a particular form of data security - although it is tamper proof the system is not impregnable and the power consumption means it will not be suitable for all applications to which it could be put.

Perhaps the block chain revolution will be comparable to the internet revolution. On the other hand perhaps it will be more like the MP4 file format revolution. There's a rather large difference between the two. Non-expert assurances about which, if any, it will be are worth precisely nothing.

jamest wrote:

Exactly why some eejit thinks block chain has something to do with Catalonian independence is of much less interest. The problems there are with what the people think, what constitutes a democratic mandate, who the civil authorities like police respond to and so on. The reason they aren't independent has little to do with the technological capability to handle data or taxes. As it stands, with or without block chain, Catalonians who don't pay their Spanish taxes would find themselves up in court.

I'm not concerned here with Catalonia. I merely mentioned that post to emphasise the potential blockchain has to radically alter the status quo right across the globe.


But as an example it fails to show that. It's some eejit in an internet comments section who is tacking two separate issues that have no place together together. He's suggesting that Catalonia should become the central hub for Bitcoin - a decentralised currency. Centralised decentralisation, right? And this will magically solve some unspecified problem.

We should not take such examples seriously. It's actually hard to do so, being as oxymoronic and lacking in information as they are.