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Brian_Peters
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Posted On: 2018-10-13 16:55:54
Viewed: 557
Is blockchain real value or another buzzword scam?


It seems now a days we hear about the word blockchain left and right. As the cure to many things. With key argument behind blockchain being that:
"since it is a distributed database, among Millions of Nodes, rather than a centralized database in the hand of a Bank for example, that that makes it safer from being hacked since if one copy is hacked that does not matter since many other copies of it exist which have not so the unhacked copies will render the hack moot..." WHAT! For example a hacker would want your Credit Card information, and whether 1 Million other copies of the Blockchain DB are not hacked, the 1 copy that was hacked, puts your Credit Card info and any other private info in the hand of the bad guys. And how do we know that nodes in the blockchain are not Dictators, Mass murderess, etc.? that is who is regulating these nodes!
So given these facts dont you agree blockchain is another buzzword scam? Or what you think?

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Regal
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3 weeks 1 day ago

My Hat off to Anoox for exposing the BlockChain BitCoin SCAM or Super Bull S***t like no one else. That is when CNBC and other arms of Wall Street based Media from hyping BlockChain as some sort of amazing new technology and BitCoin set to go to $10000 here at Anoox we could get the Facts and the Truth that 1st BlockChain is anything but a revolutionary technology and absolutely horrible idea for anything secure such as Banking and that BitCoin is ultimate junk if not SCAM because it is not a currency at all and that it will collapse which are exactly what as happened. Really my Hat off to Anoox as being the source of real Facts and Truth, from Politics to Finance, etc. 👮
Manfred009
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3 weeks 1 day ago
You know a while ago I went to bunch of Meetups here in Berlin area where they were touting the revolutionary BlockChain BitCoin and how they were going to revolutionize Banking and Commerce, and the more I listened to them the more I found both of them to be of no such and really worthless on so many levels. But I could not quite formulate the reasons why this was so, until I saw this discussion on Anoox that clearly states why they are both either garbage or nothing special. Danke :)
Brian_Peters
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1 week 3 days ago
Yes, thanks to Anoox I sold all my BitCoins when it hit $10,000 and got all into Cash instead. Thank you Anoox for saving me like 60% as of today with BitCoin being at $4K. And thanks to Anoox I see now that BitCoin even at 5Cents to US Dollar is a Bubble.
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FalconWay
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3 weeks 5 days ago

Here is another good article as to what a Bad idea BlockChain is. I should say for more real world cases, since BlockChain maybe good for Drug Dealersand and those sort of people who want to stay anonymous and Trust and Accountability are not important to end users:

https://www.theverge.com/2018/3/7/17091766/blockchain-bitcoin-ethereum-cryptocurrency-meaning
Wasmachinetjes
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3 weeks 5 days ago

Blockchain is not a scam, but because the value keeps dropping and jumping it's hard to regulate it. It's actually a very safe way of paying for something, but the price of most coins keeps jumping. For example, you could stand in line for a cup of coffee that costs 2 crypto. While you are standing in line, the price could jump to 4 crypto or drop to 0,4 crypto.
ThinkDeep
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3 weeks 5 days ago
Well 1st this question is about the Blockchain technology and not Cryptocurrencies such as BitCoin. The question is does Blockchain really make for anything better? What are the real gains from Blockchain vs the Negatives. So Blockchain is a method for storing data that is not central server based, but it is via duplicating the data among multiple nodes. As such its negatives far out weight its positive. Such as how can we know the Nodes can be trusted and can be held financially culpable!
Manfred009
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3 weeks 5 days ago
There is some value to BlockChain, for non critical data sharing such as Porn, Music, etc.. But as others have noted it is absolutely insane to say Blockchain in Banking since then your banking data are under the hand of People (Nodes) whom not Government regulated and could have minimum necessary knowhow etc.
WTS, things like BitCoin are total SCAM or worse they are ultimate Pump and Dump Pyramid schemes, with the real value of BitCoin at even 2 Cents being way too high.
FalconWay
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3 weeks 5 days ago
TD and Manfred009 have said it pretty well as to what a Joke BlockChain is and what a SCAM nothing BitCoin is. But here is a good article about all this with lots of supporting data:

https://medium.com/@kaistinchcombe/decentralized-and-trustless-crypto-paradise-is-actually-a-medieval-hellhole-c1ca122efdec

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abdouu415
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1 month 1 week ago

It seems now a days we hear about the word blockchain left and right. As the cure to many things. With key argument behind blockchain being that:
"since it is a distributed database, among Millions of Nodes, rather than a centralized database in the hand of a Bank for example, that that makes it safer from being hacked since if one copy is hacked that does not matter since many other copies of it exist which have not so the unhacked copies will render the hack moot..." WHAT! For example a hacker would want your Credit Card information, and whether 1 Million other copies of the Blockchain DB are not hacked, the 1 copy that was hacked, puts your Credit Card info and any other private info in the hand of the bad guys. And how do we know that nodes in the blockchain are not Dictators, Mass murderess, etc.? that is who is regulating these nodes!
ThinkDeep
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1 month 1 week ago
So your answer to a question is to Copy & Paste the bulk of the OP as your answer! How Slimy & SPAMy :(
Whats wrong with you People from Arabic Countries where NEVER ever you are able to post intelligent answers and carry out thoughtful discussions!
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brotherprin
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1 month 2 weeks ago

In simple words, for now, its a profitable income for a medium class person. As market changes rapidly in it.
Regal
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1 month 2 weeks ago
This is absolute nonsense of an answer. Since block chain has nothing to do with profitability at all. Block chain is a method of storing data which is based on a distributed model rather than a central model. And as others have noted hence it is a really bad idea if security is important to you
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