blockchains

Final thought: Bitcoin may or may not survive long term, but not because the concept of a cryptocurrency is unsound or that blockchains don’t work.

> Blockchains Just out of curiosity and not to diminish their current practical implications, are blockchains really a new invention?

Right, the problem with Vinay's explanation is that it requires people to have deep understanding of blockchains already.

Cryptographic history and authorization of transfers may be useful, but it just requires some straightforward digital signatures, not blockchains.

Newer blockchains like Ethereum[0] are designed to have yet-unthought-of things built on top of them.

I can conceive of the possibility of people using blockchains and such things in the future for various reasons.

We can innovate in the money space (crypto-currencies, blockchains, and all that) if we want better solutions.

Engineers have built new methods to secure blockchains that don't require mining.

Since 2009, people have been thinking about what blockchains are good for.

What we see in practice with all extant implementations of blockchains is increasing centralisation.

Being Bitcoin entusiast, IMO blockchains provide no benefits for banks.

Actually, storage on blockchains has two different solutions.

"Blockchains" isn't limited to Proof of Work, you can even get non-PoS/PoW blockchains such as Hyperledger.

Also a misrepresentation of OS/2's mismanagement to argue in favor of "worse is better" (ignoring all other great systems besides OS/2) and babble about how blockchains are pixie dust.

Can't rely on that but they'll pull off: "This forms a generalized Merkle DAG, a data structure upon which one can build versioned file systems, blockchains, and even a Permanent Web.

The achilles heel of a network such as ethereum (and bitcoin) is that "the crypto-economy" needs to stay causally disconnected from the other economy, that uses blockchains as a tool to run trusted fiduciary code (currency, insurance, identity, reputation).

Blockchains are a way to keep such accounts, in a consistent way without giving any one entity control over updates.

Blockchains, to put it mildly, do not even resemble a viable solution in this space.

Blockchains are designed for specific use cases, they aren't a generic powerup that you just bolt onto your idea to make it a distributed awesomeness machine.