How many deaths has Bitcoin had?
There were hundreds of times where the mainstream called it dead. The latest was the cost was too high and the transaction time way too slow.
Of course, something happened since the beginning of the year. Changes were made, namely SegWit and Lightning, which lowered the cost while clearing the backlog.
Make no mistake, Bitcoin is not the top blockchain. Yet it is also far from dead.
This is just an example of how the mainstream media spreads fear, uncertainty, and doubt.
I do not buy into any of the cryptocurrency FUD, nor should you.
Do you know who buys into FUD? People who have no idea what they are looking at.
Cryptocurrency is not going away. We are not going to see it go to zero. It is not worthless or something that has no "intrinsic" value hence is destined for nothingness.
This is never going to happen. So why believe in FUD?
To arrive at this conclusion requires simply understanding what is taking place. Beneath cryptocurrency is blockchain. Each cryptocurrency is tied to a blockchain making it a "currency". It is a medium of transaction for that blockchain. Naturally, if the network has no transactions, a particular token could be worthless. I am not saying that every cryptocurrency has value. There are many that are doomed.
Dictionary.com defines the internet as a vast computer network linking smaller computer networks worldwide.
Blockchain is the next generation of Internet. Understanding this shows the enormous power it has.
In the basic form, blockchain is a digital, decentralized, public ledger. Since the creation of Bitcoin, this is the primary characteristic, to track and verify transactions. This is still a large part of it. However, since Ethereum started with the smart contracts, the blockchain became much more than that. Now, with the possibility of DAO's placed on there, we are seeing this elevated to another level.
Today, blockchain is a decentralized, open network who's transactions are verified by unknown parties according to rules established by consensus.
The distributed ledger is run on a network of computers around the world. Presently, the different blockchains are all separate, similar to how the Internet was in the early days. It is only a matter of time before there is interoperability between these different networks.
This is how we can see that this will be the newest generation to the Internet. Blockchain is not like the Internet, it is the Internet!!!
So please tell me how the banksters, governments, or anyone else can stop cryptocurrency?
For all the FUD that is out there, this is one question that cannot be answered. Sure, many will take a stab at it but the truth is the only way to do it is to shut off the Internet.
It is impossible to separate a cryptocurrency from blockchain. The two are tied together. Saying one loves blockchain but is not for cryptocurrencies is saying they are for the Internet yet do not believe in computers. The two cannot be separated. A cryptocurrency without blockchain is just another form of digital fiat.
If we are to make a comparison, blockchain is the Internet on steroids. It is 100 times more disruptive and powerful. Basically, it was what the Internet was designed to be 25 years ago. Unlike that situation, this cannot be "siloed". Since the power (and value) is in the blockchain and not the applications, the methods of control used before do not apply. Forking is one example of what prevents this. Anyone can fork a blockchain. Open and decentralized means there are no protections against one simply taking what is there and duplicating it. The only question is whether the community follows or not.
The key remains development. What happens with the price of the tokens means nothing as to the success or failure of a blockchain. Prices go up and they come down. There is often no reason for it in either direction. Markets have a mind of their own.
Blockchain development is very consistent. Each day we read about new applications emerging. Even on STEEM, we see some very interesting projects developing. I am a big believer that STEEM will be an ecosystem that many people have as the basis for their digital lives. In 5 years, if @ned is right and there are 100,000 entrepreneurs on here, most of what we need will come from businesses on this blockchain.
We will see the formation of a digital "nation". Many of the things you find in your community will be on here. Instead of going to the local mall, one signs onto STEEM to shop. We will be viewing movies, television shows, and other forms of entertainment all on here. Of course, anything that requires a medium of exchange, the STEEM token will be used.
Twenty years ago today, the price of Amazon was $7 a share. Today, it is just under $1500. How many times over those decades was Amazon "overpriced", just a "bookstore", or "losing money again"? There was a lot of FUD about that company before he became the destructive force that it is.
Blockchain is the same way. Yet unlike Amazon, the path of destruction is clear. Whatever the Internet enters, it destroys. Welcome to the world of money.
This is what I see when I look at cryptocurrency/blockchain. I surmise it is vastly different than what they are talking about on CNBC or Bloomberg.
It is also why I know buying into their FUD is completely foolish.
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This is a very exciting thought! Especially if SMT's become what everyone is crossing their fingers and hoping they will be lol
But seriously, the future is bright for Steem but like you said, this is the new internet. The 'blockchain' is going to change so much. Just glad we're all here now to witness and be a part of it :)
We are in the very early stages...it is going to be incredible to watch things unfold over the next couple of years.
People are going to be truly amazed what takes place. In 5 years we will be baffled that we ever did things any other way. People will not even notice how much STEEM entered into their lives.
The blockchain is blocked by giants. Especially by the potential competitors like twitter, google, facebook.
This leads to the leak of adoption. That is why such platform as steem is very important for the mass-adoption of blockchain by non-tech users.
The use of blockchain can be differemt from just currencies. To decentralize encrypted partial medical records, with private key only held by the individual owner is for example a good idea, no token needed.
Brilliant idea @fitzgibbon
You hear a lot of stories of medical records being destroyed for the sake of keeping to the highest profits of the established organisations and the damage done is profound!
One example is Dr Burzynski
By saving it the way you suggest it cannot be lost!
It's not my idea. Some people are already building things like this
@taskmaster4450 you are changing my mind. I used to work professionally to expose the ugly reality of the FED and the Banksters and know them to be ruthless and heartless. So I've always been looking over my shoulder so to speak. But you give me hope. God, I hope you are right. So I'll stop my crapping myself and be part of the evolution of Cooperative Abundance thru Blockchain. Thanks again. I appreciate it. I do so love it here. One of my daughters is already here and just today my son, who is WAAAY brighter and very optimistic about blockchain is signing up in the next day or so. I'll make sure he follows you.
There is no doubt, with your decades of watching them, how powerful they are. The footprint they left on the neck of society is pretty obvious to anyone who looked. Because of that, it is easy to fall into the mindset this time will be no different.
Yet it is. Cryptocurrency is getting blasted all over the place. Have you ever seen anything attacked so ruthlessly by the banksters? They usually will attack something but it is non stop pressure on cypto. Which makes me ask why?
The answer is pretty obvious...this egg wont go away. They cannot use their usual method of demonize, regulate, and then buy with this. Their playbook is inept.
Frankly I believe the banksters Empire will fall and soon. Truly I do, and like a trapped beast they will lash out at all enemies. HOWEVER I also believe in blockchain and that it is changing everything. This is the beginning of a transformation of how humans cooperate together for a new reality. And because Steem is not solely tied to a whimsical market, but rather is the currency of a blockchain I think it will thrive. I want to be part of that. Thanks for your competitive spirit.
It is great to speak to like minded people @taskmaster4450 & @mistermercury
Few people realize how big the war is! It is an all out War on Bitcoin and I have started writing about all these attacks. If you hear of more please share.
Great to hear from you @dpl. Here's my brief take on things (I'll post in more detail later today): The Cabal, Elite, Banksters, whatever you want to call them, have let the attack dogs loose, and it's not just cryptocurrencies. You see it in the appointment of super Hawk John Bolton as Trumps national security advisor. You see it in the growing trade war with China. This ain't no bump in the night of scary things that don't really exist, this is the real deal and we've just begun. You saw a ramp up of military spending yesterday!! (Good for business don't ya know". You'll see it in more propaganda against Russia. The Deep Snake wants war...in Syria. And of course you'll see a barrage of attacks on Bitcoin. And of course there will be much more deficit spending ... expecting an additional 1 Trillion next year. But thats if we don't go to war. And at the same time the FED is raising interest rates. Whoa! Some say they had to, but...well, we're screwed. But other than that it's a beautiful day and I'm Steeming away!
Need to looking for crypto
Wow! simply, wow.
This puts a lot of things in perspective. Blockchain definitely is the new internet and i see a lot of disruption in industries that would be slow to embrace this change.
Also, on FUD, i feel people really should take out time to research the tokens they're purchasing. I wouldn't listen to FUD if i've done my homework, and i'm pretty sure the team behind the project are competent. the fear comes from not even realizing the case use of a token, and merely using it for a ride to the moon.
You know and express it so well. It's a pleasure to stop by to read this and have some uncertainties squashed and rechecked.
Times get busy and I don't manage to stop by everything, but sometimes I find your work at the perfect moment. Thank you for inspiration and drive as always.
Thank you for the compliement @calumam.
I do appreciate it....I am glad some of what I write helps.
You are a fantastic author and thinker. It's always a pleasure, keep it coming.
I'm only new to steemit and cryptos, looks like I jumped on steemit at the right time!
Interesting information though, I would have thought now would be a good time to buy... But like I said, I'm only new, still have a lot to learn.
I don't give a fu** about the FUDdy duddies spread fear and doubt...I made some moves these past two weeks and increased my portfolio holdings and upped my steem power by 600.
Thanks mainstream media tools for the under $2 steem which I never thought we'd see again. I bought most of mine under $1.40 months ago but it's low enough again that I'm buying. And if it goes to $1.75 again I'll buy more, and lower than that, more, etc.
Steem has the fastest transaction time that I'm aware of and can process more volume than any other blockchain out there. It's just...so...simple. Best crypto out there in terms of transaction speed, volume, and fees. But it takes time for the masses to figure this out because they don't get their information from the right sources.
It may take some years for this to become something great and life changing for some of us, but I think there's a good chance of it happening. And hopefully 10 years from now I'll be sitting on a beach somewhere and not a prison of an office with a bunch of backstabbing tools for management.
Happy Friday by the way.
Another aspect of STEEM...it is solving real world problems today...it is not something that one points to and says "down the road". 60K people are using this blockchain everyday. There are 1.5M transactions a day taking place. We are looking at a blockchain that is actually growing, not projection or full of perhaps, maybe, we hope.
Ten freaking years?!?
I’m hoping for five, tops.
Somewhere in the south of France, there’s a château waiting for me. 😎
I like to set my expectations low so I'm pleasantly surprised when they're exceeded. I think it could happen in 2-5 but unfortunately I can't quit my day job just yet. The 10 years was more for my own benefit because that's how long I keep telling myself I'll be able to survive for in corporate america without strangling somebody....(mostly kidding on the strangulation part)
Does it have parking for the Lambo?
That title made me thought you were saying do not invest in crypto during FUD period lol. OK I was wrong.
For the projects I trust, not only I do not buy the FUD but also BUY THE LOW when the market crashes.
This is more or less a conclusion I reached as well, through my very limited understanding of blockchain. But rather than this being great news, it makes me wonder why then is blockchain so revolutionary?
The bottom line is you have a network of computers communicating with each other - that's true for the internet; that's true for a blockchain.
I guess here's my main question: the value of blockchain seems to be that it cannot be controlled, since the information is spread across a network, rather than centralized in one spot. This means it's hard to kill it, because the information is spread everywhere. And it's hard to crack, because of the crypto keys necessary to access information. These both definitely seem like valuable attributes.
The other thing is that governments cannot shut blockchain down, or shut a citizen out of it, like they can and have done, with parts of the internet. I guess my main question concerns this latter attribute: how/why is a blockchain immune to this?
Finally, whereas a ledger of transactions makes sense to be held in full on multiple computers across a network, does this - can this - apply to more general circumstances? What I mean is - the information on the Internet is crazy big, and it's getting bigger every minute. Obviously - I think? - we could not attempt to hold 100% of the internet on my many computers to avoid centralization?
I'm not trying to FUD here, I'm just trying to understand the concept and the technology a little more. Any info is appreciated!
Certainly countries that take a draconian measure to shut down the internet will have the same effect on blockchain. If one cannot access it, whether the info is on a central server or blockchain there is no getting to it.
That said, many people, like the Chinese ,found ways around it and that will most likely happen as technology advances.
As for the size of the data, that is an issue. One thing to keep in mind, the only thing on blockchain, so far, is text. That is a lot smaller than videos and pics. Those are uploaded to cloud services although we are seeing the potential of video being hosted in a decentralized manner.
Fortunately, the memory and speed capabilities keep increasing exponentially.
That all fits in with what I've been thinking so far. So what that means, I think, is that blockchain is a special-use case of the internet. There are certain uses that it will be very valuable and better than what came before - which is great!
However, that also suggests to me that it won't necessarily be as revolutionary or disruptive as the internet. Since it's only a special-use aspect of the internet, it's hard to imagine that the part will be greater than the whole. Then again, just because it's hard to imagine, it doesn't mean it's not true.
(And, of course, Amazon is only part of the internet, and it's worth a fuck-ton of money.)
Ten years from now, most of the world's commerce will be done on blockchain so it is more than just a niche or special case us.
These blockchains are going to effectively be nations down the road. Most of what you do, work, communicate, shop, play video games, watch movies, etc...will all be done on this blockchain.
That is how powerful it can become.
True, the fact that it can/will be so important to commerce pretty much guarantees its significance.
It will revolutionize science also. We will start following people that actually contributes to advancing humanity and not profits! Can you imagine where we would have been if scientists like Royal Raymond Rife, Nikola Tesla and many more had access to this information!
@taskmaster4450
The CEO of Twitter says that Bitcoin will become the world’s single currency:
https://www.thetimes.co.uk/article/bitcoin-will-become-the-worlds-single-currency-tech-chief-says-66slm0p6b
I guess that’s the exact opposite of FUD, overly positive rather than overly negative. 😜
It was an interesting shift this week...the FUD seemed to turned into positive news.
Did they just flip the switch and decide to send it upward?
A lot of people I know have only heard of bitcoin and have no idea of the technological revolution that comes with it. Everything changes, and I have great hopes that blockchain will make the next changes fairer and positive for society. Time will tell...
Indeed @embracingchaos
The potential of this technology is lost in the fear of losing money but if you just do a little research (which no one likes to do) you can see it is unstoppable!
I agree.
Fake news runs rampant in today's society. Pushing that crap down our news feeds. I don't read it and I don't believe it when someone tries to tell me about it. I'm just gonna keep pushing Steem and Steemit as much as I can. 😎
Hey @taskmaster4450, totally agree. Recently I read a book that soon we are going to start seeing truth emerge and overcome the lies and institutions built on lies that are present in oir lives. The banks seem like a big one to me, crypto is the future and is necessary imo. People need this, we can't keep the same old broken system. Simple as that for me
Buying into FUD is foolish but buying tokens during FUD periods is the way to go :P
For once I disagree for a part. I posted an article yesterday: what if we are wrong about cryptos. I will not place the link but the one who are interested can find it on my blog.
I do believe in the blockchain technology but it is a misperception that a blockchain cannot survive without cryptos. I could easiy give lot of use cases in which it can. As long as there is enough beneficially profit for all parties involved to have the crypto less blockchain running there could be no need for a native currency.
I’m not saying that cryptos will vaporize cause they will not! Just not all use cases require a currency.
Feel free to read it and give your ideas about it!
To be honest, I still do not understand what to do with crypto money and how to turn it around, I'm old-fashioned, I prefer bills more))
I have an example from last year election of D.Trump, in my country media were always saying that he was a "monster" and the "world is going to end if he wins the elections". Of course when we go to street and try to hear people's opinion they only have an opinion made by the media; the problem is that most of the people in the world are not educated in terms of global problems.
BTC is responsible for launching the future, but it will never die, because if you ask people what is blockchain or what is this new technology, they immediately associate it to BTC.
I m just afraid, somebody invents a blockchain 2.0 that solves todays problems and makes any blockchain obsolete... and if this someone is google... we re back where we started so many years ago. :(
(the golden era of the internet)
The part about separating blockchain and currency is a very important topic that gets brought up a lot from skeptics, so I'm glad you touched upon it. I completely agree that there is no separation of the two. The tokens are the incentive for participating in consensus, simple as that.
But I wonder... With no direct incentives for participating in consensus, is there a case where entities would participate "for free"? In fact there are such proposals where all participants, not necessarily just miners, contribute to consensus (iota comes to mind here). If you take iota and changed its data to not store balances and transactions, but instead changed it to storing game state and game actions, you have a decentralized game without a central token. Hmmm.... Food for thought.... Even in this example though there's a hidden incentive mechanism (being able to play), so I think it still counts and doesn't detract from all the excitement.