Crypto Currency ??

LHW99

This article suggests some potential blockchain applications (2020 article):

https://101blockchains.com/uses-for-blockchain-technology/

MeteredOut

LHW99 said:

This article suggests some potential blockchain applications (2020 article):

https://101blockchains.com/uses-for-blockchain-technology/

How many of them have come to fruition in any real way in the past 4 years?

Between thet article and now, AI has accelerated in both technological advancement and utility, with hundreds of viable companies now making real money from its application.

Blockchain is a very interesting technology, but as stated by someone above, there's been very little in the way of real world benefits in its use. A few years ago, you'd see companies using it in its marketing; even that has stopped now.

As for crypto, its a great example of the greater fool theory. Some will make money from it, even more will lose money. Looking forward to see what the halving does to the FOMO lot.

GoldenOldy

Having read all of this, I shall stay true to the old adage ‘if you dont understand it, dont buy it’. Its all beyond me. 

I do thankyou for your replies, it has been very interesting though.

Qyburn

eskbanker said:

coyrls said:

abash said:

eskbanker said:

abash said:

Blockchain is still very nascent.

Personally I think that's stretching a point - Bitcoin has been going for over fifteen years now....

Bitcoin is not blockchain. Unfortunately, everyone equates bitcoin to blockchain. Bitcoin is just 1 small utility on the blockchain and it's a first generation blockchain network.

As an analogy, internet was launched on 1st Jan, 1983. It didn't gain popularity until mid 1990s. 

Web 1.0 - News sites ... only way flow of information - one can only read 
Web 2.0 - Starting with email ... two way flow of information ... 1996 and beyond (when hotmail launched)

Strange history.  Email was one of the very first applications to use the Internet.

To borrow a phrase, 'everyone' equates internet to the world wide web....

It may not be quite true to say email predated the Internet but a lot of companies and individuals used email systems long before Internet email became the norm. Hotmail was not the first email system, it wasn't even Microsoft's first email system.

GoldenOldy

Just thought. Curiosity only. Lets say you made a fortune on crypto, then ‘cash out’. Do you convert it back to cash sterling? And if so isnt traditional cash the thing you dont like/dont trust? It really is an education this!

MeteredOut

GoldenOldy said:

Just thought. Curiosity only. Lets say you made a fortune on crypto, then ‘cash out’. Do you convert it back to cash sterling? And if so isnt traditional cash the thing you dont like/dont trust? It really is an education this!

That's one option. But, the thinking is that, ultimately, you could also use it instead of a fiat currency, and perform transactions directly from crypto to buy a product or service. There are some instances where this is possible today, but not mainstream and mostly are just a conversion on a fiat currency price. ie, you're not buying something a x crypto, you're buying at at $x, and the amount of crypto you pay depends on the current crypto price.

Prism

LHW99 said:

This article suggests some potential blockchain applications (2020 article):

https://101blockchains.com/uses-for-blockchain-technology/

Just to focus on the digital identity example from that link. Microsoft have a relatively new ID system, called verified ID, based on blockchain which is likely to be used in workplaces over the years. The basic use case is that much like a passport, you control your own identity and security around it, taking it with you between jobs and companies. So rather than a company creating a user account for you when you join, instead they ask you for your verified ID, which you hold in a digital or online wallet. They grant you access to work systems based on that ID but you ultimately control it. Removes a lot of responsiblity of management for the company and allows an individual to move between companies more easily, and even work for multiple companies simultaneously if required. Can also use it for none work things.

Think digital passport

fallen121

It is possible to earn Crypto without spending any money, for example the walking app Sweatcoin allows you to convert to "Sweat" which is notionally a Cryptocurrency but not recognised by many Crypto Exchanges. By walking (and I mean  LOTS of walking) you can acquire Sweatcoin, convert that to Sweat, transfer the Sweat to a Crypto Exchange that recognises and trades it (but not one that you would necessarily want to link to your Bank account), sell it for an alternative Crypto such as USDT, convert to USDT into Crypto that doesn't cost an arm and a leg to transfer around (hint: NOT BITCOIN where you can spend half your holding just transferring it somewhere) then transfer your holding to a more reliable (i.e. not Russian) Crypto Exchange where you can sell it for GBP and withdraw the proceeds back to your UK Bank account. You are effectively mining Crypto by walking without the need to spend cash buying an NFT (which is basically an engine you need to buy to enable you to mine Crypto). I don't consider myself an expert by any means, but hang around Reddit and YouTube long enough and you will pick up enough of the basics to turn your steps into a steady income.

MeteredOut

Brave browser lets you earn BAT, which is recognised by some exchanges (eg. Uphold)

It's never going "to go the moon" though.

timdiecast

fallen121 said:

It is possible to earn Crypto without spending any money, for example the walking app Sweatcoin allows you to convert to "Sweat" which is notionally a Cryptocurrency but not recognised by many Crypto Exchanges. By walking (and I mean  LOTS of walking) you can acquire Sweatcoin, convert that to Sweat, transfer the Sweat to a Crypto Exchange that recognises and trades it (but not one that you would necessarily want to link to your Bank account), sell it for an alternative Crypto such as USDT, convert to USDT into Crypto that doesn't cost an arm and a leg to transfer around (hint: NOT BITCOIN where you can spend half your holding just transferring it somewhere) then transfer your holding to a more reliable (i.e. not Russian) Crypto Exchange where you can sell it for GBP and withdraw the proceeds back to your UK Bank account. You are effectively mining Crypto by walking without the need to spend cash buying an NFT (which is basically an engine you need to buy to enable you to mine Crypto). I don't consider myself an expert by any means, but hang around Reddit and YouTube long enough and you will pick up enough of the basics to turn your steps into a steady income.

I've got 1408 sweat coins built up over 2 years (just for fun, not expecting to make money). Current value $13.50

I think it would be more lucrative to use an app that just paid cash to walk. However, I'll do  some research and see if I can really make a steady income from walking around.