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Brian_Peters
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Posted On: 2018-10-13 16:55:54
Viewed: 342
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?

Answers & Comments: 49
FalconWay
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1 day 17 hours 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
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2 days 8 minutes 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.
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1 day 21 hours 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!
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1 day 20 hours 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.
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1 day 18 hours 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 week 6 days 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 week 5 days 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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3 weeks 1 day 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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2 weeks 5 days 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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create_abusiness1
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1 month 1 day ago

A digital asset. It is more valid than our current fiat system of value. 😉
Reporter
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1 month 1 day ago
Let me guess you are a Ron Paul follower or listen to crazys on Fox? Right. Why isn a digital asset having any value at all, compared to so called "fiat system of value"? After all a so called Fiat Currency, such as US Dollar, Euro, etc. are backed by the Full faith and power of the Governments behind them. Whereas a digital asset is backed by no one, but it is just a record on a server somewhere. But this is actually missing the point of this discussion since we are talking Blockchain and
Reporter
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1 month 1 day ago
not so called digital assets, such as BitCoin. That is BitCoins underlying technology is Blockchain. And we are talking about whether Blockchains are significantly better or significantly worse than client/server model.
create_abusiness1
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1 month 1 day ago
If it(US Dollar) was backed by Gold, i would agree but after Richard Nixon took it off the Gold Standard, it is worth....nothing. Zero, Nada.
Reporter
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1 month 17 hours ago
OMG! you are one of these Ron Paul crazies :)
1st US Dollar, Euro, Canadian Dollar, etc. are backed by FULL Faith of their respective Governments, which means Power to Tax, power to lay levies on all companies including Gold Mines, etc. etc.
While CryptoCurrency such as BitCoin is utterly worthless since it is backed by no Government or Central Bank but only driven by speculators. But again this discussion is about Blockchain and not Cryptocurrencies. Last but not least: why you think Gold has

Reporter
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1 month 17 hours ago
any value? After all, we pay for Gold with US Dollar, Euro, Canadian Dollar, etc.. So the value of Gold is based on man printed currencies. Anyway, put down the Ron Paul, Fox News, psychos such as Rush Limbaugh, etc. and join the real World.
RealTime
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4 weeks 2 days ago
Reporter has nailed it, if currencies such as US Dollar, Euro, Canadian Dollar, etc. are Fiat currency as per Ron Paul and Gold Bugs, then Gold is a Fiat currency too, since we pay with these currencies to buy Gold and take it away from a Gold owner. Bang on Job Reporter. This is the best destruction what a BS the Ron Paul and Gold Bugs, narrative about Fiat currencies vs Gold is.
But again as you noted this discussion is about Blockchain so see my comment about this below.
create_abusiness1
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4 weeks 1 day ago
fiat currency- man-made, limited life span. Gold(with other precious metals) not man-made, unlimited life span, used as real currency for centuries. 😊
accuallan
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4 weeks 1 day ago
But we pay with US Dollar, Euro, Canadian Dollar, etc. to buy Gold and take it away from the Gold owner. So this means Gold is a Fiat currency, since again it is priced in so called Fiat currencies of US Dollar, Euro, Canadian Dollar, etc. and we swap these currencies for it. Only a Ron Paul Rush Limbaugh brain washed person, would not be aware of these facts. Moreover, if you think Dollar, Euro, etc. are man Made currencies where Government of these countries are behind them, then BitCoin etc
accuallan
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4 weeks 1 day ago
Blockchanin based currencies are absolute total Junk, since they are even less than man made and in case of BitCoin it is made by an Anonymous man of Satoshi Son. So these chain of facts, Pun intended, are absolute proof of what idiots Ron Paul Rush Limbaugh etc Republican Gold Nuts are and what a junk and joke Crypto Currencies are. Since beside above facts anyone can run the underlying Blockchain code of BitCoin and make their own Crypto Coin, such as DickCoin, JaneCoin, BozoCoin, etc.
create_abusiness1
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4 weeks 1 day ago
That is a good suggestion, why don't you do that so you can become wealthy and not have to post comments on Anoox.
accuallan
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4 weeks 1 day ago
Well this is not a suggestion, but facts: that it is a Fact that we price Gold in Government backed currencies of US Dollar, Euro, Canadian Dollar, etc. and we pay for Gold and take the Gold an put it into our pocket with these currencies. And so are facts other points I made. As to your point: by posting comments here on Anoox we become truly richer because Anoox as only non-profit search engine & social net empowers us to get the Truth out, which is the real wealth of a Nation/People.
create_abusiness1
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4 weeks 1 day ago
Maybe this can.....Possibly....help...inform you! Read this: https://cointelegraph.com/news/pantera-capital-exec-cryptocurrency-market-prices-could-increase-tenfold-by-2020?utm_source=newsletter1&utm_medium=email
create_abusiness1
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4 weeks 1 day ago
Nay! I doubt it. https://cointelegraph.com/news/coinbase-launches-trading-for-first-erc-20-token-on-platform?utm_source=newsletter1&utm_medium=email
create_abusiness1
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4 weeks 1 day ago
The dollar was chosen to become the monetary unit for the USA in 1785. The Coinage Act of 1792 helped put together an organised monetary system that introduced coinage in gold, silver, and copper. Paper notes or greenbacks were introduced into the system in 1861 to help finance the Civil War.
accuallan
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4 weeks 1 day ago
And? What next you are going to say George Washington was 1st president of USA and Abrahm Lincolns was president during Civil War :) Tell us something we dot know. Or at least face the fact that you have been Mind screwed by right-wing Media from Fox to Rush etc. that US Dollar is Fiat currency and buy Gold, when the facts are we pay for Gold in US Dollars, Euro, etc.. And the bosses of Fox to Rush etc. crave every Dollar/Euro they can get and want you to have as little as it.
create_abusiness1
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4 weeks 1 day ago
Right, you pay for gold in dollars, not the other way around. That should tell you something. Gold has the value, the dollar does not. Just like Bitcoin is at $6,300 and the US dollar is cheaper than the Euro.
accuallan
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4 weeks 17 hours ago
"you pay for gold in dollars, not the other way around"! What the f***k does that mean? You Ron Paul Rush listeners have really been made brain dead! Of course you pay for Dollar in Gold! You know all the places that you sell your Gold to! And Yes US Dollar is cheaper than Euro, because:
1- Europeans are not suffering fro right-wing Media and Republican lunatics
2- Europeans do not waste their Money on War after War after War

Read:
http://www.realnewspost.org/sa.php?a=62683
create_abusiness1
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4 weeks 15 hours ago
Nope! Because the USA...is...bankrupt. That's why!!
Reporter
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3 weeks 6 days ago
Really, if USA is bankrupt, then why is Wall Street hitting record high after record high, since election of Sociopath Trump?
Why is USA giving 10s of Billions to Israel in free Money under Obama_Trump?
Why is USA giving 200 Billion in Free Military to Richer European Union? And 10s of Billions in Free Military to Rich Japan, South Korea, etc.?
So you need to ask yourself why is USA Bankrupt and Europe whose currency is more valuable than USA not?
It is because Europeans have many socialized
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3 weeks 6 days ago
services, from Universal socialized healthcare, to socialized college education, etc. which means Europeans get these essential services FREE for Taxes they pay, while these same essential services cost an American family of 4 $1-Million+ over their life time.
So 1st, USA is not bankrupt, as per 100s of Billions in Free Military we give to Richer Europeans! 2nd, this discussion is about BlockChain technology and whether it is Real or a waste of time money SCAM, etc.
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3 weeks 6 days ago
Credit card living(borrowing to live a lifestyle above your means). Pretty soon, the obligatory debt payments will be greater than the revenue collected, then everyone(including you)...will see it.

I am sure, long ago, there were some(close-minded people) who said that..only commodities(corn,wheat, etc) are needed and this..so-called investing in stocks(IBM,Standard Oil, etc.) was a..waste of time, scam and that it would...end in destruction and loss of income. But, look at it now!
create_abusiness1
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3 weeks 6 days ago
Think of all the cryptocurrency as the new stock market.
WirSind
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3 weeks 6 days ago
Yes, you need to ask yourself what are we Europeans doing different than you in USA, that has resulted in our currency being MORE valuable than US Dollar, even though Euro is a highly flawed currency since it is a currency with a political Union behind it but no Monetary Union behind that, that is no ability to Tax as a Union to pay off our Debts, as US can. So what still makes our Euro more valuable than US$ is that we do not waste our Money on War after War as you do under GOP or Democrats.
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3 weeks 6 days ago
And as Reporter has noted, also because we run key services for making the People safe and richer on Socialized basis, that is Healthcare, Education, Police, etc.. You just run Police on Socialized basis! Now as for Blockchain, it seems like just the latest Fad & Buzzword, from which will come couple of guys in tight pants doing an IPO with the Main street investors getting ripped off while Wall Street guys will dump these stocks on Main street as the scam becomes clear to all.
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3 weeks 6 days ago
Hah, they need the masses to think this way(Just the latest Fad) so that you will miss the opportunity and say(after the fact), Why did i not take advantage of this, or i should have done this or that. Just think of the people who miss out when there was an opportunity to invest in MicrSoft, Apple, Netflix...even the internet. Sorry, but i am not one of them...Good luck to all of the...watchers!
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