Bitcoin, Blockchain & Cryptocurrencies

glentoran99 wrote: »

How would a constantly fluctuating crytpo currency save me money in laymans terms?

How would Match Betting save you money but it still gets a forum board dedicated to it?

http://forums.moneysavingexpert.com/forumdisplay.php?f=41

Whatever people opinion Blockchain & Cryptocurrencies high in value, low in value, small market caps, large market caps... whatever are one of, if not thee most technological and financial revolutions the world has ever seen.

They are here to stay, governments are talking about and addressing them, financial industries are looking to implement and use them and in the future they will undoubtedly play their part in every financial discussion that takes place on MSE one way or another.

They have the future potential to really empower and enrich the average person, either directly or indirectly.

Search the MSE forums and already there are almost 5,000 topics that refer to Bitcoin, however only one MSE article that I can see.

I really think the site and forum could benefit from more coverage & discussion on either good bad or indifferent on Bitcoin, Blockchain & Cryptocurrencies.

No?

antrobus wrote: »

How?

Simply avoiding answering that question rather implies that your claim is simply BS.:)



Write it yourself.



How would the site and forum "benefit"?

Current market cap of cryptocurrencies is $27,583,535,022 vs antrobus calling BS

If you don't know/ see the benefits and future possibilities I suggest a little self-education and research might be in order before trying dismiss the case against them.

Smart contracts
One of the most promising applications of blockchain technology is the smart contract. It can execute commercial transactions and agreements automatically. It also enforces the obligations of all parties in a contract – without the added expense of a middleman.

Share trading
Share trading will soon be impacted by the blockchain. Utilizing blockchain technology potentially allows for greater trade accuracy, and a shorter settlement process.

speeding up and simplifying cross-border payments
The transfer of value has always been an expensive and slow process. This is particularly true for cross-border payments. The blockchain is able to speed up and simplify this process - and also reduces the costs significantly.

improve online identity management
When identity management is moved to the blockchain, users are able to choose how to identify themselves and who will be informed. They still need to register their identity on the blockchain somehow, but after that, they can re-use that identification for other services.

loyalty and rewards
Blockchain offers many benefits, including transparency and traceability of transactions. This will help banks and insurers to create a more captivating loyalty and rewards program that fits 24/7 performance management and enhances engagement.

Healthcare
Using digital signatures on blockchain-based data that allows access only when authorized by multiple people could regulate the availability and maintain the privacy of health records. In addition, a community of people, including hospitals, doctors, patients, and insurance companies, could be part of the overall blockchain, reducing fraud in healthcare payments.

Defence
Unauthorized access or modification of critical defense infrastructure, such as operating systems and network firmware, could seriously compromise national security. For most countries, defense infrastructure and computer systems are distributed across different locations. Blockchain technology distributed across multiple data centers can ensure security against attacks on important network and hardware equipment by ensuring consensus-based access for modification.

Government
Government departments that work in silos cause the exchange of information to be delayed, negatively impacting citizen services. Linking the data between the departments with blockchain ensures that data is released in real time, when both the departments and the citizen consent to sharing data. Blockchain technology could improve transparency and check corruption in governments worldwide.

Law
Blockchains can contain a huge amount of data, including entire contracts. The impact of “smart contracts”—protocols that facilitate or enforce contract performance using blockchain—will have a profound impact for industries. Smart contracts eliminate the middleman, such as a legal firm, as payment will happen based on certain milestones being met. By its very nature, the smart contract is easily enforceable electronically, creating a powerful escrow by taking it out of the control of a single party.

Energy
Microgeneration of electricity is becoming a huge trend in the power generation business. New energy initiatives such as home power generation and community solar power are filling in gaps of power supply across the world. As microgeneration adds to traditional power suppliers, it fosters creation of an energy market. Smart meters can register produced and consumed electricity in a blockchain, which allows for consumption of the surplus energy in a different location, providing credits or currency to the original producer. The credits can then be redeemed against the grid when the microgenerator needs additional electricity from the grid. The blockchain enforces these contracts in real time or near-real time, allowing for a utility market to be created with minimal red tape.

There are countless benefits and endless possibilities for this technology both centralised and decentralised, regulated and unregulated, commercial and domestic.

It is currently and will completely revolutionise the full financial sector and beyond, from the commercial sector to the average person on the forum.

It's not going away, the technological genie is truly out the bottle and I thing the forum with thousands of topics referencing it could do with a board and site acknowledging it, because at the moment there appears to be a large proportion of people receiving only the hyper-negative one-sided coverage from the mainstream media and there doesn't seem to be much by the ways of constructive discussion, coverage, assistance, information or debate.