Blockchain also has some useful applications. Most (but not all) of them are also possible with technology and such that existed when bitcoin was first created, at far lower cost for a minor tradeoff in accuracy. On top of that, almost none of them are related to speculative markets.
It’s a way to do distributed transaction logs in a non-refutable and independantly verifiable way. That’s useful and important, but it was a solution in search of a problem. Even for the highest security, most at risk transactions, the existing international fincancial systems are “good enough” to ensure reliability of transaction logs.
In the end, blockchain and now AI are just falling victim to con men trying to milk as much money as they can from things before people build a working understanding of them. They’ll just keep moving onto the next big thing as it comes.
I just wish people had long enough memories to see the cycle for terms like these. Some new word catches vogue, companies fall over themselves trying to find ways to implement them for shareholders and consumers who have no idea what they actually represent. As that fades, a new term arises… it’s sad.
And virtual reality gets a free revival every other technology, while we’re at it.
I’m predicting VR coming back into the limelight, try again, shortly after everyone loses interest in AI.
Also, I’m still pissed that flying cars aren’t in the limelight more. I was promised daily updates, and I’m not seeing them. That’s the biggest proof that the media is completely disconnected.
“AI” is the new “blockchain”. It’s a solution looking for a solid problem to tackle, with some niche applications
I mean, at least Ai has SOME useful applications, the blockchain was just wasting energy for some numbers.
Blockchain also has some useful applications. Most (but not all) of them are also possible with technology and such that existed when bitcoin was first created, at far lower cost for a minor tradeoff in accuracy. On top of that, almost none of them are related to speculative markets.
It’s a way to do distributed transaction logs in a non-refutable and independantly verifiable way. That’s useful and important, but it was a solution in search of a problem. Even for the highest security, most at risk transactions, the existing international fincancial systems are “good enough” to ensure reliability of transaction logs.
In the end, blockchain and now AI are just falling victim to con men trying to milk as much money as they can from things before people build a working understanding of them. They’ll just keep moving onto the next big thing as it comes.
Mhhh
I just wish people had long enough memories to see the cycle for terms like these. Some new word catches vogue, companies fall over themselves trying to find ways to implement them for shareholders and consumers who have no idea what they actually represent. As that fades, a new term arises… it’s sad.
And virtual reality gets a free revival every other technology, while we’re at it.
I’m predicting VR coming back into the limelight, try again, shortly after everyone loses interest in AI.
Also, I’m still pissed that flying cars aren’t in the limelight more. I was promised daily updates, and I’m not seeing them. That’s the biggest proof that the media is completely disconnected.
We have flying cars. They’re called helicopters, and they suck for most activities
Good point.
I’m willing to accept a reality where the science magazines are constantly excited about every development in helicopter technology.