How is crypto changing the world?

>How exactly is anyone going to solve the oracle problem

the russian that loves mcdonalds

Because they are Jews and want to cut as much cost out as possible.

Imagine if they can slash their admin costs when transacting with multiple parties like an export company. All of that would be automated and they would fire all the admin book keepers or people standing around ticking boxes.

The other use case is to make their system hack proof. This is needed for self driving cars so car manufacturers are interested. If they can spread the load across the network it would be harder to target one car and take over it. Hackers can already hijack a car and make it do shit.

Also, banks want to store the sensitive data in encrypted format in a decentralized network so that there isn't one target for hackers to go in and steal all the sensitive data.

If you want to see where the future is going and why decentralized networks are needed just have a watch of The Third Industrial Revolution: youtube.com/watch?v=QX3M8Ka9vUA

>Decentralization is a meme. This will never come into real existence because it’s in direct competition with capitalism.
wat

Thanks user for an honest answer. But by using a decentralized network your transnational data is public no? Secured but public.

Then sell you retard. But you won't. You just want others to sell.
I won't and fuck you. Your move cunt.

kys

You can run private blockchains on the side and have it work inter-operability with public blockchains (storing just a reference to your blockchain).

Also you can encrypt your data and break it up and store it across the network and only you and relevant parties have the key to decrypt it.

Ah very nice. Didn't think about that. Much appreciated.

Lol retards

Crypto isn't going to revolutionise shit, its just a bunch of neets who really really wants to get rich off their shitcoins. Crypto has been going on 9 years and still haven't done shit besides giving drug dealers a way to sell without being as easily backtraced

Pls user can you be more constructive I am trying to find proper answers here.

You answered your own questions. The rebuttals were people ridiculing you. Crypto is just like a fucking cult where people believe in some shit and hate others who dont

ps I am still making money on this because of speculations so its not like i hate crypto. but cmon

All I need right now is a way to get the Unreal 4 engine to read and write to either the steem or EOS blockchain and all you doubters can get fucked hard.

Problem is, I am not having any luck finding someone who can do this easily.

How bitcoin is in opposition to thr capitalism?
I guess u r missing the idea that money generates money.. doesnt matter if they r made out of gold or digibytes..

Yes, I am/was hoping this to be untrue. I've been in crypto since the start of 2016. I still do not see how this is going to change the world. How this is going to change peoples lives.

I fully understand what says but still I just don't perceive this as anything but a minor addition on the current system.

bitcoinexchangeguide.com/bankers-against-bitcoin-consensus-2018-event-protest-group-details/

I am saying decentralization opposes capitalism because you give up competitive advantages which you can get if you keep a system private.

what's the idea behind that?

Lol but banks r not the gods of the capitalism nor are they the defintion of it. They r like bitmain to bitcoin they earn interest by serving the miners. But without them we would still be able to run it. The idea of capitalism is that u can value the work done. Each work done can be represented in terms of money. Money is a kind of a SI unit for work..doesnt matter if it is gold, digibytes or silver. It is represenstion of value.. beside I want to hear ur opinion not some internet bullshit

But thats the human nature!! Every system felt to this, thats why capitalism didnt work out, thats why religioous dictatures dont work. People want goods, that is biological need. U cant stop it. Capitalism at least give u chances. Libaries r free for everyone, u can go and study, u can do whatever u want. But humans at the same moments r lazy as fuck and cant do that. They complain. Muhh bankerss, theyy tukkk ourrrr moniiii.

*communism didnt work

Jews r against it cos noone likes to share and lose control, btc is game changing, but the systems stays as its the best one which we developed since 100 mln years.

>How exactly is anyone going to solve the oracle problem meaning: who is going to check what is uploaded on this “decentralized” system? Who is going to check the info is correct? “YES BUT SMART CONTRACTS!!!”. No, this is incorrect. These contracts check info given. They CANNOT check the validity of the contract created unless that info is already available. How is the info available?
lmao what the fuck am I reading

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Banks are basically singlehandedly responsible or the entire advancement of the western world and still are

>but we can do without them

Not my best work but basically I am saying that the middle man is still necessary to check the validity of the info written on a smart contract.

no. They r important same as religion was for the civilisation development. Yet everything is changing and evolving. I didnt say bank r unneeded I just said they r not the only thing that capitalism stands on.

Yes, good job describing the oracle problem.
Now what is your question/doubt? LINK is already months away from solving it.

Some1 before defined capitalism with banks and I do not agree, they were only one of the tools used to make it works.

No they are not the ONLY thing but they are highly needed to have a financial system which is highly needed for capitalism.

Oh you can do without banks, sure easy. Just take a quick look at the economical development of mexico vs the US. Guess who had the most banks.

Everything is changing and evolving is a too easy way out.

Thanks. I know what LINK is doing, I just don't see a solution. I think there will always be a vital need for human capital and smart contracts are not going to change that one bit.

It would open a shit load of potential for not only selling the game directly on steem or EOS via dapp but also the ability to store save game info and things of that nature.

It would make it possible to explore new gameplay ideas that have never been done before by using a public ledger. Once the functionality exists it would be dirt fucking simple for indie game developers to explore all kinds of shit. Its even technically possible to make an entire social media dapp that runs in the Unreal 4 engine. VR social media? Anything unreal 4 can do would now be open to functionality of a public ledger.

It would be fucking stupidly good. And I fucking would kill to get my hands on a plugin like this right now.

>Thanks. I know what LINK is doing, I just don't see a solution.
...
what?

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Not really, garbage in garbage out is still a situation.

If i make a smart contract that releases funds if Pedro cuts my grass, who exactly is going to verify if he really cut my grass???

What? Please respond with words. If you think I am a complete retard by saying what I said explain why.

the real question is why do you need a SC to pay Pedro for mowing your fucking lawn. SCs aren't applicable to everything.

>I took a bath, but I was dry the whole time.
your post is an oxymoron. how do you not see this?

That's why banks and financial organisation services are going to change.

They could provide custodian services to holding private keys for individuals that don't feel comfortable holding their own keys. So they will still be the lock and vault of people's wealth.

The banks will also become more of an audit service to make sure that a tokenized asset actually correspond to the physical asset associated with the token. Plus they will do security checks and legal checks auditing the smart contracts. Although, there are organisations like Certik that may render manual audits unnecessary.

Have a watch of based Fusion CEO talk about the future of how financial organisations will change to service a blockchain world youtube.com/watch?v=Oz3PWRt_m9k

For fuck sake. I didnt say I dont want banks. I fuckin love banks! I said that they r not the defintion of capitalism. They r like a tool. U can bit nail with a hammer or a piece of wood. Hammer is better but a piece of wood will do the work too. Problems show up once u have to put 10 000 of nails. And most of all they dont do it for free. Its not an charity organisation. And that is what I believe is game changing with btc/decentralization: i.e. ico which allows people to organize money without the middle man and that means less control. More u control more u earn and less u have to worry about losing the iron throne.

Crypto is more revolutionary than the internet and computers. It is on the level of the printing press. Think of everything wrong with the internet:

All data centralized by a few global corporations
Obscurity as to how they are using / abusing your data for profit
No interoperability between services

You can apply the same principles to how currency is used today:

Central banks control and manipulate the currency based on political pressure
Obscurity to how banks and governments are using your money
Economic isolation between state boundaries, unbanked regions.

Then imagine a world post-crypto:

All data can be managed in a decentralized fashion without any one entity having absolute control. Everyone can participate in this system without having trust any single entity and having to grant them authority over their property / data. You truly own your own data / property. Unlike today where you only have digits on bank's server which isn't even backed by money.

Smart contracts are transparent and are guaranteed to abide by publicly available rules. You can freely use services without having trust them with your data or worry about your data being comprised by hackers. You don't have to give any company or government authority over your data to use their service.

Anyone in the entire world can participate in this system. For currencies this means everyone in the entire world can participate in the economy. Governments can't put up boundaries so that they or other companies can extort their people by blocking access to better goods and services.

Crypto will bring on a global economic revolution that will obsolete the inefficient and corrupt financial and government systems we suffer through today.

>You truly own your own data / property.
What I don't understand with that statement, is if your data or property get in the blockchain, they are "stuck" in it, you can delete them. Am I right? And if yes, you don't own them anymore, and this transgress shitloads of rules about privacy

They are controlled by the blockchain, yes, but the blockchain is not controlled by any one person or entity, it operates by a transparent set of rules. With bitcoin for example the rules say that bitcoins can only be send by the person who owns the private key of the wallet containing them.

>How are crypto's going to be revolutionary
Any business or company that adopts blockchain is able to run their company/country 1-3% more efficient be eliminating the
middleman
>Decentralization is a meme
Its not a meme, it's useless for many use cases but it is not a meme. Decentralization allows for monopolies without the downside of a monopoly. For example bitcoin can be the single currency in the world, but no1 has the printer.
>Finance is never going to adopt decentralization
They most definitely are, blockchain allows for cleaner and leaner programming than current programmed financial systems.
Above that it's faster and eliminates the middleman. Blockchain removes the crony from crony capitalism. People are unfit to make the rules for other people. They will always abuse the power for their own advantage, consiously or unconsiously. Blockchain takes away that power and decentralizes it, allowing a more fair ecosystem, where the big guys have less means to restrict the little upcoming guy.
>oracle problem
Blockchain isn't the answer to everything, it's an answer to some problems
>How is that going to be a radical addition to the current system
Like you said, faster and more efficient, is a big fucking deal. Plus you can have it the way you want, public, private, no visible ledger for anyone, ...
>How are these companies worth millions/billions sustainably
These coins are truly global and will go for decentralized monopolies. Their potential is huge, but we're not there just yet.
>How is blockchain going to change the world
speed, efficiency (big deal)
bringing back privacy (for example civic with zero knowledge proofs, being able to authenticate without showing actual personal info, big deal)
decentralized (no single power can easily abuse, in many countries people are absolutely cucked by inflation)
no censorship (a true free internet)

Facebook will be replaced by a decentralized, more private version
Whatsapp will be replaced by a fully decentralized and private service
Youtube and internet boards will be replaced by decentralized and uncensorable services
Money will be replaced by a decentralized and private money, you send to whoever you want where ever in the world more efficiently
VPN's will be decentralized and fully trustworthy
Stock markets, exchanges and market places will be fully decentralized and more efficient
The internet will be fully decentralized
Online identity will be fully decentralized and private
Cloud computing will be fully decentralized
Cloud storage will be fully decentralized
AI's, IOT and autonomous systems will be able to have bank accounts
Companies, governments can be made more transparent

With blockchain you can do everything of the old system, faster, leaner, cleaner and introduces many new possibilities. Its
just opens up new options.

The fact that you don't understand that middlemen are not needed and that "decentralization is a meme" as you put it means you fundamentally don't even understand what blockchain technology is all about.

I think this is all "trying to reach for the stars" ideology.

>All data is centralized
Yes, exactly because they want it to be. That's why I do not believe decentralization will be adopted and centralization will still be the focus.They will find a way to keep things centralized.

>Central banks can control and manipulate etc.
Yes, and believing that decentralization will not be adopted I don't see a difference from the current system.

>Obscurity how banks and governments are using your money.
Yes, that is their right and is vital for competition.

>Unbanked regions
How is block chain going to solve this? These regions are unbanked because there is apparently no money to be made with banking, how is blockchain going to generate in influx of money into that system?

Also, how is block chain going to replace the debt system?

>All data can be managed....everyone can participate in this system
Who is this anyone you're talking about? Who is going to secure your money? Who is going to insure your money in case a hack does happen? Who is going to issue your debt?

The reason I don't believe in this whole global currency is because I don't understand how the money is suddenly going to go to regions where is wasn't before. The reason why it wasn't there before is because it wasn't profitable. How does block chain change this? Is muhammed in pakistan suddenly an attractive individual for a loan?

>Unlike today where you only have digits...isnt backed by money
Yes, great isn't it? Truly a catalyzer of the world, the money multiplier. Why would you want to give that up?

Thanks for your thorough answer user.

What middleman? Who is this middleman you guys are all talking about and how exactly is he going to be replaced? Can you give a detailed example? Because I've read numerous cases which were supposed to cut out the middleman and I fully disagreed with those.

Blockchain isn't the answer to everything, no you're right. But the oracle problem is vital when you're talking about SCs replacing he system.

it's not changing the world at all

Great that you took the time to explain to me I don't understand it. Now can you explain why exactly?

If you pay in a store with visa. Visa gets a cut for the transaction, plus the store has to pay to accept visa in his store. Visa is gone.

Altough banking is digital, they still have to move funds in real life from bank to bank, between different countries etc. Crypto's remove the need for that.

One of the prime examples of Jow Forums having an actual conversation and not being brainlets. I’m quite impressed.

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Visa, mastercard, banks, they don't actually create anything. They don't grow food, they don't make cars, they don't make clothes. They facilitate transactions and take their cut. Removing them is a big fucking deal. And on top of that, blockchain is faster, so it not only makes the economy more efficient, it also accelerates.

>The reason I don't believe in this whole global currency is because I don't understand how the money is suddenly going to go to regions where is wasn't before. The reason why it wasn't there before is because it wasn't profitable. How does block chain change this? Is muhammed in pakistan suddenly an attractive individual for a loan?
user, you are completely losing sight of the forest through the trees. The cryptocurrency "revolution" isn't going to be some sudden, cataclysmic event that overhauls the global economy over the course of a few years. This is going to take decades, probably much longer. Most of us posting here will be long dead before cryptocurrency is some kind of widely used standard form of payment across the world, but what has been set in motion can't be stopped. Decentralized systems have clear advantages over older financial systems (that cannot be trusted) who exist solely to get a cut of the action between merchant and buyer in almost all forms of commerce.

Thanks, will check

Thanks guys Ill check later. I need to leave now.

I am sure answers to these questions are extremely needed in the community. So by all means pls continue the discussion.

what amount of data you want to save on the blockchain?

>All of that would be automated and they would fire all the admin book keepers or people standing around ticking boxes.

Problem is, that these people are trusted. They can adapt and think outside the box, use experiences or even intuition. Even the most advanced AI cannot utilize that.

What you want to automate is not automatable in the first place, decentralized blockchain or not.

>Also, banks want to store the sensitive data in encrypted format in a decentralized network so that there isn't one target for hackers to go in and steal all the sensitive data.

Bank data need to be stored accessible and secure. A blockchain "might be" secure, but it is not accessible to the same degree as conventional systems.

I don't think BCH will take over everything to be honest, it will just coexist as an alternative means of payment. Fills a purpose and puts pressure on banks to not be too nazi.

Given enough time it might be what the world compares values to though, like we do with USD right now.

BCH might not even be accepted everywhere either, just like USD isn't accepted everywhere either. Can still be what people compare stuff against though.

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