Cryptocurrencies: scams and skullduggery

Atilla

Well-known member
Nov 15, 2006
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#61
I'll bite on your idea :)

As a player why on Earth I would go and pay transaction fees to buy and sell chips (the fees will have to go to pay the "miners" to support the blockchain ledger - nobody will do it for free). I will just chose a company having a centralized ledger and no transaction fees instead - basically every current online casino or poker site.

As a company why, I would give control to the "miners", if someone gets more than 50% control, they can do whatever they like with the ledger - it is absolutely unnecessary risk to take for no gain... Unless you are a company selling frozen juice and change your name to blockchain to get a short term boost in the stock price, so some of the executives can cash out at the top...

As you can see in your example, those are very big problem and that's why 25 years after the blockchain was first conceptualized and almost 10 years after Satoshi implementation, there is still no use in the real world...
Sorry Quant I was only responding to your challenge to name but one token idea where people who play poker daily uses such a scheme.

I think in the future there may well be similar ideas.

I see the demise of the US $ happening as we speak so I do feel some future money - be it crypto, is in the making.

I also wondered how or why people in a game called second life put up real money on fictitious hyperspace to buy and sell property. Also in game play, players can buy and sell weapons all in a digital world.

I didn't think much of facebook either. Crazy to see daft valuations on earnings that'll take 150 years to gain. Just my tuppence.

So I don't know any more as techology goes, there are no limits. What now with solar power I don't see planet earth running out of juice or ideas anytime soon.

Interesting debate. Forgive me for being cheeky. I thought Timsk reply was also great.

(y)
 

Quantt

Active member
Jul 23, 2017
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#62
Sorry Quant I was only responding to your challenge to name but one token idea where people who play poker daily uses such a scheme.
Sorry Atilla, looks like I misunderstood your post as a idea.

Can you please tell me the company name, I would like to check it out, because it’s going to be my first

Thanks!
 

Quantt

Active member
Jul 23, 2017
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#64
Years ago Kodak missed the boat and suffered as a consequence. Looks like they won't be missing the boat this time around ! :)

http://www.bbc.co.uk/news/technology-42630136
Yep, talking about bubbles and tops...

You can change any database with blockchain database, but the question is how exactly this is going to be beneficial...

From the article:

"Storing the information in a blockchain doesn't protect your copyright any more than copyright law already does," commented David Gerard, author of Attack of the 50ft Blockchain.
"Notice how they're marketing it: they state a problem, then say the blockchain can solve it. But there's no mechanism by which the blockchain could do that.
"This doesn't do anything that signing up for Shutterstock or Getty Images wouldn't."

Like the frozen juice company, adding a blockchain to the name of the company is not going to make the frozen juice any different...
 

Atilla

Well-known member
Nov 15, 2006
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#65

Atilla

Well-known member
Nov 15, 2006
18,248
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323
#70
I guess I failed to see the sarcastic font :)
Well for what it's worth I thought much like you at the start and saw no value in it.

Couldn't get my head round it. Now I've seen the light.

 

Quantt

Active member
Jul 23, 2017
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#71
Well for what it's worth I thought much like you at the start and saw no value in it.

Couldn't get my head round it. Now I've seen the light.
I am still waiting to see on practical implementation (different than tokens) after so many years...