Re: Nine of the World’s Biggest Banks Form Blockchain Partnership

What benefit do the crypotocurrencies provide? From what I can tell the
overcompensate early adopters, creating inequality, take a lot of energy,
and are non-dymanic in that the underlying algorithm can not be changed. It
seems to me that without a democratic political revolution this is moot,
and with a democratic political revolution this is also moot. Whats the
point?

On Thu, Sep 17, 2015 at 3:13 AM, Timothy Holborn <timothy.holborn@gmail.com>
wrote:

> Yes. However by using crypto as the trust agent, the method is likely to
> consume ever inceasing amounts of energy over time to maintain.
>
> Is there a solution for the 51% issue?
>
> On 02:04, Thu, 17/09/2015 Melvin Carvalho <melvincarvalho@gmail.com>
> wrote:
>
>> On 16 September 2015 at 17:20, David Nicol <davidnicol@gmail.com> wrote:
>>
>>> And they called "blockchain technology" it what it is -- a ledger.
>>> Good!
>>>
>>
>> Yes, the ledger is the key.
>>
>> A block chain is actually a singly linked list.  Typically blocks contain
>> transactions, which when added up form a ledger.
>>
>> In a centralized ledger system, you have central authorities saying who
>> has what.  e.g. National currencies, equities, gift cards.
>>
>> In a distributed ledger system, you have a consensus protocol and actors
>> saying who has what.  e.g. bitcoin, ripple, alts
>>
>> In a decentralized ledger system, there is no central authority saying
>> who has what, but transactions are possible between ledgers based on
>> mutually beneficial rules.  e.g. linked data, the web
>>
>>
>>>
>>>
>>> On Tue, Sep 15, 2015 at 5:35 PM, Melvin Carvalho <
>>> melvincarvalho@gmail.com> wrote:
>>>
>>>> Crypto currencies just went mainstream ...
>>>>
>>>>
>>>> https://recode.net/2015/09/15/nine-of-the-worlds-biggest-banks-form-blockchain-partnership/
>>>>
>>>
>>>
>>>


-- 
Adam Lake
540-585-4444