In 2017 about bitcoin and block chain industry need to stop the discussion of 5 topics

In 2017 about bitcoin and block chain industry need to stop the discussion of 5 topics


In the “CoinDesk2016 review” column, reporter BaileyReutzel talk about now bitcoin blockchain in the industry some of the leading topics.

The sustainable development of bitcoin blockchain industry, but began to pay attention to this industry in the new, they first met those topics are always a commonplace talk of an old scholar.

Now we move into 2017, the old topic should be completely abandoned.

Here, we will review those of blockchain hypocritical and bigger goal for the future is meaningless metaphor.

1, go to the moon

Bitwala on Twitter and EricMartindale to answer at this year’s Money2020 meeting on the question.

Meaningful verbal bitcoin prices do these absurd predictions? The forecast of last year and the year before is wrong.

A bitcoin price may exceed $10000 by 2018. TimDraper, are you kidding? Time is so much, he doesn’t need to rush to give forecast. Of course, with PanteraCapital made “each bitcoin prices in 2014 will reach $10000 compared to his conservative forecast a lot.

At the beginning of this month, Saxo Bank (SaxoBank) its forecast given (although some “absurd”), predicted bitcoin prices in 2017 will exceed $2000, because the president elect Trump as president of the United States, perhaps there will be a consumption boom, but Trump did not mention the Chinese and India currency restrictions.

The price of bitcoin as an alternative currency means of payment and the target is the largest independent, aroused more speculative enthusiasm.

Coinbase said that nearly 70% of the trading platform is speculative, only 30% actually used in the actual payment. So, to improve the value of bitcoin will only make day traders richer. This in itself is not what problem, but I have stressed that it has deviated from the real target of the altruistic.

So, please don’t say this: “if you buy a $1000 Facebook original shares and $1000 bitcoin, Facebook shares rose to $3200, bitcoin will rise to $141000.”

Thank you, RogerVer! We understand is, you made millions.

2, block chain everything!!!

The blockchain will completely subvert the most current business model:

The founders of Coinbase FredEhrsam in the “Wall Street journal” column is discussed thoroughly block chain reconstruction process of enterprise structure, and the URL hyperlinks uploaded to twitter. In his opinion, (and many others) the center of the mechanism will be used eventually to the center of the software protocol, allowing people to complete all the things point to point.

Although to the center of the network in some cases did a great role, but in some respects but not what effect. To the center of the network in all asked to include bitcoin core developers, the wallet, the conclusion is to the center of the network is too difficult to manage. Bitcoin Wallet core developers even began to hate that consensus process.

Many domestic chain enterprises block wide and abstract concept (snake oil snakeoil) express their opinions, do not explore this technology to solve those problems when using the technical rules of industry. In many cases, the only reason is that these entrepreneurs are not very clear that industry, using reason and process such as health care industry is currently operating mode.

This foolish optimism also ignores the value orientation of consumers, many fans began to block chain curious people use encryption currency, but why use notes, cheques, credit card and debit card transactions.

Sometimes the mood will become very exaggerated, all consumers to enterprises from the main to the grandmother of young people, are altogether in the same category, although these different groups of transactions in different ways, stimulus and contain very different factors.

3, no complaints

Industry experts AndreasAntonopoulos recently said on its twitter:

This is very funny. “We are all in the cong” how? I guess, once you agree with the view of the Antonopoulos, then only the application. Some of this hate this situation is somewhat arbitrary.

This may be some exaggeration. If someone does not agree, not polite to greet his civilized dialogue, but violent oppression. Opponents or those who just have a different view of the world, will suffer from the attacks of others behind the language, when many people will attack with anonymous file.

But the real question is, when bitcoin developers to create and maintain a business agreement, make enterprise interaction of people and this Agreement becomes easier, in other words, many people are involved in this agreement.

Use this way to allow more developers and entrepreneurs, more consumers and investors to enter the field of chain block.

TimSwanson R3CEV director of the Department of market research in their tweets said:

Although these companies should give developers return protocol (like every network company should be given to keep the Internet open source community as well as return), but these companies still in the industry for the right to speak.

4, the password is legal

3 months before the TheDAO attack, StephanTual, founder of the development of free and open source software for TheDAO, chief operating officer of tweets said:

The tweets published after the release of an article of the blog, the blog wrote: “DAO is an autonomous organization, not affected by external forces: according to the records in the block on the chain can not change the internal constitution, software independent operation, not by the creator control.”

Can not be changed, is it?

Just a few days before the attack, a map published by the highlighted another thing, this map is the founder and chief technology officer ChristopherJentazsch forwarding on twitter:

In the TheDAO password so many so-called test and confirmation, no one noticed the recursive invocation vulnerability, an attacker using a password TheDAO led directly to the status quo, stolen investor more than $60 million in ethernet.

To the center of the software can not solve social problems through the use of a password (many problems belong to this kind of problem). TheDAO and its failure to block the chain industry experience and lessons.

According to the number of individual master tokens to judge a person’s quality, and to determine its decision-making power, will only let those in people with low socioeconomic status at a disadvantage, this with them now for these more traditional system status is the same.

At the same time there is another phenomenon, namely blaming the victim. People are free to choose investment projects, because once the password vulnerability fails, they will be “should check the password more carefully condemned.

But a person’s mobile phone was hacked, sexy photo spread on the Internet, similar condemnation will also appear, as they should not keep these photos, or they should set up a more secure password.

This encryption currency community on IPO currency (ICOs) attitude agree without prior without previous consultation. The first public offering of money is a kind of activities to raise public investment, to the platform for the development of people trying to sell the currency token encryption machine.

But every participant should be aware of all the risks, especially the risk of new technology and opaque, this has caused many people because of cognitive elevation delivery plan and comprehensive fraud.

Although aware of the risks, also know how to analyze the password is favorable, but this does not mean that the block chain industry can absolve liar.

A more appropriate slogan should be “law code”, the slogan has gained momentum on this topic published from PrimaveraDeFilippi and SamerHassan in academic papers. In this paper, two thought that the law can be defined as the password, but the password is limited, because the legal documents will be vague and flexible into machine language is very difficult.

5, everything is blockchain

What is the blockchain?

For many years the blockchain field has been trying to define it. Generally speaking, the definition often depends on the words in front of the “a” or “the”.

However, the use of distributed technology books block chain has exchangeable. Distributed technology books can really realize the information transfer between.

Let the fuzzy concept is intensified, “commercial block chain” of the author, but also a number of block chain startups project consultant WilliamMougayar issued a tweet, will block compared to the chain of GoogleDocs synchronous editing function:

If you know GoogleDocs, you can also understand the chain block

This is not only confusing, but also misleading, disrupting the bitcoin (first block chain) on the delicate balance of economic incentives. The economic incentive makes the protocol more innovative than traditional database.

According to JamesWester research director IDCFinancialInsights global payment department said, “blockchain” this noun has lost the sense of mystery.

He said: “the blockchain will still be outside services, but in the industry, the general entry represents the basic object, you are talking to the underground market is not very clear what’s going on.”

So you know what you are talking about?

If you want to know more bitcoin related, with “money said” WeChat (micro signal: bishishuo), note: BtcTrade. Before entering the official exchange group.

Leave a Reply

Your email address will not be published. Required fields are marked *