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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (137042)	12/9/2017 12:12:22 AM
From: Elroy Jetson	Read Replies (1) \| Respond to of 217573

Visa, Mastercard and the SWIFT and EFT system use less than 0.01% of the electricity and overhead cost of Bitcoin and run secure monetary systems, with instantaneous transfers costing far below blockchain costs, which most like myself are perfectly happy with. Users are fully indemnified in these systems and the fraud loss is a far lower percentage of total transactions than the Mt Gox and other fraud losses taken already in Bitcoin. Blockchains are a passing delusion. To be more accurate, blockchains are already an archaic oddity which in retrospect will have no lasting real world applications.

To: TobagoJack who wrote (137042)	12/9/2017 1:30:04 AM
From: Elroy Jetson	1 Recommendation Recommended By dvdw© Read Replies (2) \| Respond to of 217573

Looking at this diagram, you can easily see why a blockchain system which works well with a limited number of nodes becomes unusable as the number of nodes greatly increase and validation is required by a huge number of nodes. If the internet operated using this model, it would have already collapsed. Currently I can transfer money from myself to my nephew using a bank, which is a total of 3 nodes, possibly 5 depending on how the money is transferred interbank. With blockchains, my transfer involves communicating and transferring information with thousands of nodes, or hundreds of thousands of nodes as it's used by more people. It's madness. It's the solution to absolutely nothing using more than a limited number of nodes. CryptoKitties which exist only as blockchains is essentially a parody, except people with Bitcoins think it's a product rather than a joke.