What problems does Bitcoin or BitCoin uniquely solve? I'v…
What problems does Bitcoin or BitCoin uniquely solve?
I've been thinking about that a lot tonight. That's what should be built first. I've now got to think about how that affects adoption.
Replies
I think one of the most important ones is that it cures spam! http://baemail.me/@mungojelly
It makes micro transactions feasible, that unlocks a lot of new business areas.
Government and banking efficiency could be vastly improved.
Arbitrage and skim trading can be erradicated, almost perfect knowledge for everyone looking at the blockchain.
BitCoin uniquely solves multiple problems, a global ledger protocol that everyone can use to publish data -- both unencrypted data and encrypted data. And it also solves the "free rider" problem of the internet. It has built-in anti-spam and accountability
When you have a global protocol everyone can use -- but one that has built-in anti-spam and accountability, then you can build applications that everyone in the planet can use. Everyone benefits from each other, even competitors... thus Social Scalability!
spacetime https://www.youtube.com/watch?v=2PMGuNZreWA
Is solves the “history is written by the victor” problem because any record on the blockchain is unchangeable.
Not the sexiest thing from a pure adoption point of view, but I think it’s a breakthrough in data that has never been possible before.
Remittance is the one that will very quickly catch the fire.