The user and all related content has been deleted.
Somebody, somewhere has better skills as you have, more experience as you have, is smarter than you, has more friends as you do and can stay online longer. Just pray he's not out to get you.
What is the point of using blockchain in a game if not for Crypto and NFTs?
Blockchain is just a way to store Data, its just a new type of data storage. Its more secure as you would need to compromise all computers in different locations at once to change the data. Crypto currency uses Blockchain because of this.
In a game that uses Blockchain but not crypto, would use it to store who owns what. This is where the term Crypto-games is a negative thing. Its called Blockchain Games, as not all Blockchain games have crypto.
Also many games that have Crypto, you can buy it at 1-4 cents per crypto. It works out cheaper then games with sub or B2P. With these games, if they gonna scam you, its for 2-5 bucks in these cases.
But, it's not a "new" form of data storage. It's been around since the 90s. It's only now that people are using it in video games, and only as crypto and NFTs are becoming more and more popular.
If you put two and two together you can see there's only one reason to use it.
Suppose that developers use blockchain for something internally in a game but don't publicize it. The game launches, and you play it and enjoy it. Then a year after the game launches, you find out that it is using blockchain for some internal thing. Would that ruin the game for you? I'd argue that it shouldn't.
If it can be done efficiently enough, it may be possible to use a blockchain cryptocurrency for microtransactions in games. You pay money and get some crypto at a fixed rate, like you normally do with item mall gold or diamonds or whatever the publisher calls it. But instead of that currency being tied to a single game or even a single publisher, it could be usable across a whole lot of games from a lot of different publishers. If you buy your currency for a particular game and then quit that game, you still have it and can spend it on another game.
Game publishers get their money when you spend the crypto on their particular game, as they can readily exchange it back for money with the company that created it. But if it can be done efficiently enough, they may be able to get it at lower transaction fees than credit cards normally charge. I'm not sure if it's practical to make it efficient enough or secure enough against fraudulent purchases to obtain the currency, but if so, that could be an improvement over typical item mall practices all around.
The user and all related content has been deleted.
Somebody, somewhere has better skills as you have, more experience as you have, is smarter than you, has more friends as you do and can stay online longer. Just pray he's not out to get you.
Quiz at this point I'm not sure if it's a lack of understanding why crypto currencies... or a underlying fear that your world is changing. A refusal to come to grips with being behind. AMD is cool glad you caught that bus. You are missing this one though and your knowledgeable stature is in peril.
You will look back on these post a couple years from now and be embarrassed.
Proof by assertion, apparently. I've been predicting that mined cryptocurrencies would go bust for a lot longer than a couple of years. Just because a bubble hasn't popped yet doesn't mean that it never will.
The dot-com bubble of the late 1990s lasted a number of years, even though it was incredibly obvious at the time that it was a bubble and a lot of companies with stupidly high valuations should have properly been worth $0, or perhaps rather, whatever someone could get by scavenging and selling their meager assets. Saying that it's obvious that it was a bubble isn't just hindsight, either. I knew it at the time well before it popped, as did a whole lot of other people. Then-Fed chairman Alan Greenspan famously (and accurately) called it "irrational exuberance". And ultimately, it did pop and a whole lot of companies went bust.
Your own rhetoric echoes that of the dot-com enthusiasts at the height of the bubble. "You don't get it" was a common line. Even without a rational basis for the high valuation of a lot of companies that had no plausible way to ever turn a profit, people insisted that stock prices were only going to keep going up and up anyway. And they did for a while--until they didn't.
The dot-com crash may have cost the NASDAQ about 2/3 of its value, but the Internet didn't go away. A lot of companies that had absolutely no business being in business sure did, though. Similarly, in the aftermath of the inevitable cryptocurrency crash, blockchain and cryptocurrencies aren't going to vanish entirely. A whole lot of particular cryptocurrencies will lose basically all of their value, however, including all of the mined ones.
Suppose that at some point in the future, the United States decides to abolish the US Dollar in favor of a cryptocurrency. (Or substitute any other country here if you want, as it doesn't change the argument, at least for countries that have their own currency.) Do you think that they will adopt Bitcoin or Ethereum or whatever and start massively in debt to the mining locusts and speculators who have done a lot of harm in the world? Or do you think that they'll start fresh with a newly minted cryptocurrency that isn't mined at all? I say that it's foolish to bet that either the government or the general population will prefer the former over the latter.
What is the point of using blockchain in a game if not for Crypto and NFTs?
The point would be to support gaming features blockchain would enhance, which needn't involve genuine transfer of ownership of the asset to players.
For example, a lock could keep track of how many times a particular person tries to pick it. Perhaps it would give a small accumulating bonus with failed attempts, simulating increasing familiarity with the lock.
That bonus would be "remembered" by the lock should that person give up and then return later to try again. It would also remain if that lock was removed from one container and put on another, as the person would still be familiar with the mechanism inside it regardless.
If too many became overly familiar with the lock it may lose it's protective value and need to be replaced with a new one.
While you could do that with blockchain, you could also do it more easily without blockchain. There are plenty of non-blockchain forms of databases.
The user and all related content has been deleted.
Somebody, somewhere has better skills as you have, more experience as you have, is smarter than you, has more friends as you do and can stay online longer. Just pray he's not out to get you.
Just like some people make money off of Ponzi schemes. That doesn't mean it's a good idea to put money into them. It doesn't mean it's a real investment. Taking longer to collapse than most doesn't turn it into a good investment. Bernie Madoff's investments lasted 48 years before collapsing, though it it may have been completely legal for a while, and isn't entirely clear when it turned into a Ponzi scheme.
All mined cryptocurrencies are eventually going to lose their value. It's not a question of if, but when. And the more value people thought they had in those cryptocurrencies, the more that people are going to be hurt by it. So long as people realize that they're gambling with money that they wouldn't be particularly hurt by losing, it's no worse than going to a casino. But encouraging people to treat it like a real investment is dishonest and destructive.
It's not a matter of examining and understanding the risks. Game NFTs, as with mined cryptocurrencies, are fundamentally irrational markets. Maybe you can predict that the value of gold or oil will go up or down as major uses of them become more or less important, or as new methods of obtaining them become available or old ones are exhausted. But there isn't anything analogous to that for irrational markets such as mined cryptocurrencies. All that you have to base your guesses on is what you think other people will guess as to their value at some point in the future, and they won't have anything more than that to base their guesses on, either.
You use the adjective "mined" cryptocurrencies. Are you using this to distinguish them from non-mined cryptocurrencies or you simply refer to all cryptocurrencies as "mined cryptocurrencies".
I do not dispute that vast majority of cryptos is actually a ponzi and that they will eventually go to zero in the long term. This is a good thing and the sooner this happens the better, in my opinion. Also, I do not like mined / PoW cryptocurrencies as I believe they are damaging the environment and definitely do not represent the future.
However, there are cryptocurrencies the value of which is driven by their use cases, are not "mined" and the damage they cause to the environment is negligible. Those cryptocurrencies are not ponzi and are also sustainable unlike the mined ones. Their value will go up in line with their increasing real world usage. There are cryptos which are right now being used in real world production by global companies. Look up stuff like covid passes on VeChain or on-demand liquidity solution for international payments utilising XRP.
As for in-game assets, such as land in an MMO traded on blockchain, I would not call them ponzis. There is definitely a possibility their value will eventually drop should the game become outdated or for many other reasons potentially, but I probably would not call them ponzi because of that. Such game may as well be really good and have a longevity of World of Warcraft. Assets in such a game could hold value for a very long time.
Yes, I am specifically distinguishing cryptocurrencies that are created by mining from cryptocurrencies that are issued by other sources. The former are surely going to go bust. Some of the latter could have a real future.
I expect that come 2040, cryptocurrencies will be important to the world economy and not just some novelty. However, none of the major, important ones at that time will be mined. Rather, they'll generally be issued by some central authority, often but not necessarily always governments. Furthermore, most or all of the ones that will be really important then don't yet exist.
Something like Ripple (XRP) might still be around, or it might be superseded by some other, better alternative that fills a similar role. That's hard to predict, as a lot can change in 19 years.
If people decided that they will use some other asset to store value, your gold would be worth zip either.
Your long suffering explanations are appreciated.
That said, gold isn't just an asset to store value - it is intrinsically valuable because it is useful. It can be used to make many useful things. Heck, back in medieval times people would get busted for stealing manure because of its value as a fertilizer.
So gold has value independent of its ability to store value.
Crypto is more like fiat currency than gold - and in my opinion, fiat currency is also a Ponzi scheme. It is a Ponzi scheme in which I participate, but it is still a Ponzi scheme. Most crypto isn't backed by anything at all, which is the weakest of Ponzi schemes - those like the one you mentioned, is backed by contracts between businesses, but is still without intrinsic value.
(This is why the dollar is losing value - the government keeps printing and nothing backs it but the word of the USA. However, real currency (gold) keeps it value in relation to the dollar. That is intrinsic value vs. Ponzi right there)
BTW, claiming 99% of crypto are Ponzi schemes pretty much makes the point. A case of the exception proving the rule. I don't think anyone here is going to be investing in VHTOs or whatever they are.
You thought wrong then because I for one have definitely invested in VET/VTHOR.
For several decades now our money hasn’t been tied to anything except trust and support systems, that has been let go off. The idea that “real” money still has any kind of intrinsic value is outdated, your coins and pieces of paper are basically worthless on their own. Still it has many systems backing it and many people trusting it. The crypto industry is working on both though and at breakneck speed.
Do people really think that when the first real money was introduced to people who traded pigs for rice and lumber it had any value to them? It was just as an abstract idea to them as this is to many people now.
Will it succeed? We don’t know yet since we don’t have a crystal ball. Will it fail? Well, that is just as unknown. What we can see is that adoption is exploding, on both a consumer as business level, and that includes all growing pains that come with it. Downright dismissing the entire industry is cringeworthy though, as is blindly supporting it.
/Cheers, Lahnmir
'the only way he could nail it any better is if he used a cross.'
Kyleran on yours sincerely
'But there are many. You can play them entirely solo, and even offline. Also, you are wrong by default.'
Ikcin in response to yours sincerely debating whether or not single-player offline MMOs exist...
'This does not apply just to ED but SC or any other game. What they will get is Rebirth/X4, likely prettier but equally underwhelming and pointless.
It is incredibly difficult to design some meaningfull leg content that would fit a space ship game - simply because it is not a leg game.
It is just huge resource waste....'
Gdemami absolutely not being an armchair developer
If people decided that they will use some other asset to store value, your gold would be worth zip either.
Your long suffering explanations are appreciated.
That said, gold isn't just an asset to store value - it is intrinsically valuable because it is useful. It can be used to make many useful things. Heck, back in medieval times people would get busted for stealing manure because of its value as a fertilizer.
So gold has value independent of its ability to store value.
Crypto is more like fiat currency than gold - and in my opinion, fiat currency is also a Ponzi scheme. It is a Ponzi scheme in which I participate, but it is still a Ponzi scheme. Most crypto isn't backed by anything at all, which is the weakest of Ponzi schemes - those like the one you mentioned, is backed by contracts between businesses, but is still without intrinsic value.
(This is why the dollar is losing value - the government keeps printing and nothing backs it but the word of the USA. However, real currency (gold) keeps it value in relation to the dollar. That is intrinsic value vs. Ponzi right there)
BTW, claiming 99% of crypto are Ponzi schemes pretty much makes the point. A case of the exception proving the rule. I don't think anyone here is going to be investing in VHTOs or whatever they are.
You thought wrong then because I for one have definitely invested in VET/VTHOR.
For several decades now our money hasn’t been tied to anything except trust and support systems. The idea that “real” money still has any kind of intrinsic value is outdated. It just has more systems backing it and more people trusting it. The crypto industry is working on both though and at breakneck speed.
Do people really think that when the first real money was introduced to people who traded pigs for rice and lumber it had any value to them? It was just as an abstract idea to them as this is to many people now.
Will it succeed? We don’t know yet since we don’t have a crystal ball. Will it fail? Well, that is just as unknown. What we can see is that adoption is exploding, on both a consumer as business level, and that includes all growing pains that come with it. Downright dismissing the entire industry is cringeworthy though, as is blindly supporting it.
/Cheers, Lahnmir
Even fiat currencies have an intrinsic use: you can use them to pay your taxes. Or perhaps rather, even if not the paper currency, you can at least deposit it in a bank and pay digitally.
All I am trying to do here is to provide an argument showing that all crypto is not ponzi as some of you claim here.
I gave you guys a decent explanation of one particular blockchain involving two crypto coins above which, in my opinion, demonstrates that they are not a ponzi, but rather assets which have value driven by their use case.
There are quite a few more assets like this in the crypto space. As I said above, I believe that about 8950 out of those 9000 are ponzi. However, then there are those 50...or 30...or 20...or whatever number which have use cases and which are being used right now in real world production that drive value into them and which are not ponzi.
Therefore, the claim that all crypto is a ponzi is false, in my opinion.
Do what you want with this.
8950 out of 9000 is over 99%. You are essentially saying almost every crypto are a ponzi scheme.
And the few which is not, no one cares about it.
I think you are saying block chain technology have real world usage. Which people like Bill Gates or Mark Cuban says before.
This was a bit like when (I think it was Bcbully, but not sure) told us while extoling CC MMOs that 9 out of 10 of them either weren't worth playing or were scams. So that only left us with about 1 in 10 even he thought could be worth playing!
We have had some good arguments on both sides in this thread and I do see why some posters may be getting frustrated they are still having to explain to the other side the "truth", but that's the nature of debate and we have done well to (if I can paraphrase) "keep it classy".
If people decided that they will use some other asset to store value, your gold would be worth zip either.
Your long suffering explanations are appreciated.
That said, gold isn't just an asset to store value - it is intrinsically valuable because it is useful. It can be used to make many useful things. Heck, back in medieval times people would get busted for stealing manure because of its value as a fertilizer.
So gold has value independent of its ability to store value.
Crypto is more like fiat currency than gold - and in my opinion, fiat currency is also a Ponzi scheme. It is a Ponzi scheme in which I participate, but it is still a Ponzi scheme. Most crypto isn't backed by anything at all, which is the weakest of Ponzi schemes - those like the one you mentioned, is backed by contracts between businesses, but is still without intrinsic value.
(This is why the dollar is losing value - the government keeps printing and nothing backs it but the word of the USA. However, real currency (gold) keeps it value in relation to the dollar. That is intrinsic value vs. Ponzi right there)
BTW, claiming 99% of crypto are Ponzi schemes pretty much makes the point. A case of the exception proving the rule. I don't think anyone here is going to be investing in VHTOs or whatever they are.
You thought wrong then because I for one have definitely invested in VET/VTHOR.
For several decades now our money hasn’t been tied to anything except trust and support systems. The idea that “real” money still has any kind of intrinsic value is outdated. It just has more systems backing it and more people trusting it. The crypto industry is working on both though and at breakneck speed.
Do people really think that when the first real money was introduced to people who traded pigs for rice and lumber it had any value to them? It was just as an abstract idea to them as this is to many people now.
Will it succeed? We don’t know yet since we don’t have a crystal ball. Will it fail? Well, that is just as unknown. What we can see is that adoption is exploding, on both a consumer as business level, and that includes all growing pains that come with it. Downright dismissing the entire industry is cringeworthy though, as is blindly supporting it.
/Cheers, Lahnmir
Even fiat currencies have an intrinsic use: you can use them to pay your taxes. Or perhaps rather, even if not the paper currency, you can at least deposit it in a bank and pay digitally.
I would say that is actually an artificial use, we’ve created systems to make that possible, fiat doesn’t possess an ability to perform that function by itself. Hence me talking about support systems to give fiat value and use, pretty much like several types of crypto.
/Cheers, Lahnmir
'the only way he could nail it any better is if he used a cross.'
Kyleran on yours sincerely
'But there are many. You can play them entirely solo, and even offline. Also, you are wrong by default.'
Ikcin in response to yours sincerely debating whether or not single-player offline MMOs exist...
'This does not apply just to ED but SC or any other game. What they will get is Rebirth/X4, likely prettier but equally underwhelming and pointless.
It is incredibly difficult to design some meaningfull leg content that would fit a space ship game - simply because it is not a leg game.
It is just huge resource waste....'
Gdemami absolutely not being an armchair developer
If the government/business decided to track products another way suddenly your cache of 1,000 VTHO would be worthless - because it has no inherent value, unlike silver, gold, or bread.
Silver, gold, and bread don't necessarily have as much inherent value as you might think. Silver and gold do have inherent uses, but so does sand, and sand isn't particularly valuable.
What is the point of using blockchain in a game if not for Crypto and NFTs?
Blockchain is just a way to store Data, its just a new type of data storage. Its more secure as you would need to compromise all computers in different locations at once to change the data. Crypto currency uses Blockchain because of this.
In a game that uses Blockchain but not crypto, would use it to store who owns what. This is where the term Crypto-games is a negative thing. Its called Blockchain Games, as not all Blockchain games have crypto.
Also many games that have Crypto, you can buy it at 1-4 cents per crypto. It works out cheaper then games with sub or B2P. With these games, if they gonna scam you, its for 2-5 bucks in these cases.
But, it's not a "new" form of data storage. It's been around since the 90s. It's only now that people are using it in video games, and only as crypto and NFTs are becoming more and more popular.
If you put two and two together you can see there's only one reason to use it.
Suppose that developers use blockchain for something internally in a game but don't publicize it. The game launches, and you play it and enjoy it. Then a year after the game launches, you find out that it is using blockchain for some internal thing. Would that ruin the game for you? I'd argue that it shouldn't.
If it can be done efficiently enough, it may be possible to use a blockchain cryptocurrency for microtransactions in games. You pay money and get some crypto at a fixed rate, like you normally do with item mall gold or diamonds or whatever the publisher calls it. But instead of that currency being tied to a single game or even a single publisher, it could be usable across a whole lot of games from a lot of different publishers. If you buy your currency for a particular game and then quit that game, you still have it and can spend it on another game.
Game publishers get their money when you spend the crypto on their particular game, as they can readily exchange it back for money with the company that created it. But if it can be done efficiently enough, they may be able to get it at lower transaction fees than credit cards normally charge. I'm not sure if it's practical to make it efficient enough or secure enough against fraudulent purchases to obtain the currency, but if so, that could be an improvement over typical item mall practices all around.
That'd never fly with developers and publishers... they like their walled gardens too much.
If some cryptocurrency can fill the same role as credit cards do now and do everything at least as well as credit cards and at half the transaction fees, plenty of publishers will become very interested, very quickly. Businesses tend to be primarily interested in making money, and a walled garden is only a means toward it, not an end.
So which crypto scheme do you all think coretex666 fell for?
Cryptocurrency is has no intrinsic value, none, nadda, zilch, zero. It's tied to nothing.
They're used for nothing more than get rich quick schemes. Gamble it on and ride that unregulated currency at your own risk.
Ok, how many digital assets have you done a proper research on and how many you believe you have a decent understanding of?
I am kidding...I dont have energy for another circle.
Anyway, stay classy!
Crypto is used as a get rich quick schemes 99% of the time.
Just because there are 1% of the time it's used as a proper ledger don't mean nothing. 99% of the time people use it as a get rich scheme.
Not to mention why going through so much effort to use block chain when a simple database can do the same thing.
Day traders try to use traditional stock markets as a get rich quick scheme. That doesn't mean that that is all that stock markets are.
When people trade in assets that do have a clear, underlying value and try to push the price away from the proper value (whether too high or too low) as part of a get rich quick scheme, there is typically money to be made in betting that the asset will return to a more sensible valuation. The get rich quick schemers often find that it ends up functioning as more of a get poor quick scheme.
What is the point of using blockchain in a game if not for Crypto and NFTs?
Blockchain is just a way to store Data, its just a new type of data storage. Its more secure as you would need to compromise all computers in different locations at once to change the data. Crypto currency uses Blockchain because of this.
In a game that uses Blockchain but not crypto, would use it to store who owns what. This is where the term Crypto-games is a negative thing. Its called Blockchain Games, as not all Blockchain games have crypto.
Also many games that have Crypto, you can buy it at 1-4 cents per crypto. It works out cheaper then games with sub or B2P. With these games, if they gonna scam you, its for 2-5 bucks in these cases.
But, it's not a "new" form of data storage. It's been around since the 90s. It's only now that people are using it in video games, and only as crypto and NFTs are becoming more and more popular.
If you put two and two together you can see there's only one reason to use it.
Suppose that developers use blockchain for something internally in a game but don't publicize it. The game launches, and you play it and enjoy it. Then a year after the game launches, you find out that it is using blockchain for some internal thing. Would that ruin the game for you? I'd argue that it shouldn't.
If it can be done efficiently enough, it may be possible to use a blockchain cryptocurrency for microtransactions in games. You pay money and get some crypto at a fixed rate, like you normally do with item mall gold or diamonds or whatever the publisher calls it. But instead of that currency being tied to a single game or even a single publisher, it could be usable across a whole lot of games from a lot of different publishers. If you buy your currency for a particular game and then quit that game, you still have it and can spend it on another game.
Game publishers get their money when you spend the crypto on their particular game, as they can readily exchange it back for money with the company that created it. But if it can be done efficiently enough, they may be able to get it at lower transaction fees than credit cards normally charge. I'm not sure if it's practical to make it efficient enough or secure enough against fraudulent purchases to obtain the currency, but if so, that could be an improvement over typical item mall practices all around.
That'd never fly with developers and publishers... they like their walled gardens too much.
If some cryptocurrency can fill the same role as credit cards do now and do everything at least as well as credit cards and at half the transaction fees, plenty of publishers will become very interested, very quickly. Businesses tend to be primarily interested in making money, and a walled garden is only a means toward it, not an end.
Enjin coin says hi. Its baby steps but the first moves have been made, the groundwork is being laid as we speak.
/Cheers, Lahnmir
'the only way he could nail it any better is if he used a cross.'
Kyleran on yours sincerely
'But there are many. You can play them entirely solo, and even offline. Also, you are wrong by default.'
Ikcin in response to yours sincerely debating whether or not single-player offline MMOs exist...
'This does not apply just to ED but SC or any other game. What they will get is Rebirth/X4, likely prettier but equally underwhelming and pointless.
It is incredibly difficult to design some meaningfull leg content that would fit a space ship game - simply because it is not a leg game.
It is just huge resource waste....'
Gdemami absolutely not being an armchair developer
In an apocalyptic event, it will be bread and bullets. Coins? Not as much. Crypto? Not at all, especially once the power grid goes down. (I do, however, have a basement full of homemade jelly. Should someone have bread...)
Your address was what, again? I may need to know that when the zombies come.
Back when COVID-19 first hit the scene in Mar 2020 and shortages of TP, meat and other necessary goods were cropping up everywhere my daughter came home telling me about a survival prepper co-worker and her husband who had stockpiled a horde of useful items.
I asked my daughter if she knew where these folks lived or could look it up work.
She gave me this weird look, asking why I wanted to know and I'm like "What? No reason."
Just trying to live long enough to play a new, released MMORPG, playing New Worlds atm
Fools find no pleasure in understanding but delight in airing their own opinions. Pvbs 18:2, NIV
Don't just play games, inhabit virtual worlds™
"This is the most intelligent, well qualified and articulate response to a post I have ever seen on these forums. It's a shame most people here won't have the attention span to read past the second line." - Anon
The user and all related content has been deleted.
Somebody, somewhere has better skills as you have, more experience as you have, is smarter than you, has more friends as you do and can stay online longer. Just pray he's not out to get you.
So which crypto scheme do you all think coretex666 fell for?
Cryptocurrency is has no intrinsic value, none, nadda, zilch, zero. It's tied to nothing.
They're used for nothing more than get rich quick schemes. Gamble it on and ride that unregulated currency at your own risk.
Ok, how many digital assets have you done a proper research on and how many you believe you have a decent understanding of?
I am kidding...I dont have energy for another circle.
Anyway, stay classy!
Crypto is used as a get rich quick schemes 99% of the time.
Just because there are 1% of the time it's used as a proper ledger don't mean nothing. 99% of the time people use it as a get rich scheme.
Not to mention why going through so much effort to use block chain when a simple database can do the same thing.
Day traders try to use traditional stock markets as a get rich quick scheme. That doesn't mean that that is all that stock markets are.
When people trade in assets that do have a clear, underlying value and try to push the price away from the proper value (whether too high or too low) as part of a get rich quick scheme, there is typically money to be made in betting that the asset will return to a more sensible valuation. The get rich quick schemers often find that it ends up functioning as more of a get poor quick scheme.
Reminds me of a salesman I met once who used to come in bragging on how much money he was making trading stocks on margin.
When the downturn inevitably came he lost everything, with all of his assets including his family's home ...and well, his family as well since his wife walked out over it all.
Just trying to live long enough to play a new, released MMORPG, playing New Worlds atm
Fools find no pleasure in understanding but delight in airing their own opinions. Pvbs 18:2, NIV
Don't just play games, inhabit virtual worlds™
"This is the most intelligent, well qualified and articulate response to a post I have ever seen on these forums. It's a shame most people here won't have the attention span to read past the second line." - Anon
The user and all related content has been deleted.
Somebody, somewhere has better skills as you have, more experience as you have, is smarter than you, has more friends as you do and can stay online longer. Just pray he's not out to get you.
Suppose that developers use blockchain for something internally in a game but don't publicize it. The game launches, and you play it and enjoy it. Then a year after the game launches, you find out that it is using blockchain for some internal thing. Would that ruin the game for you? I'd argue that it shouldn't.
If it can be done efficiently enough, it may be possible to use a blockchain cryptocurrency for microtransactions in games. You pay money and get some crypto at a fixed rate, like you normally do with item mall gold or diamonds or whatever the publisher calls it. But instead of that currency being tied to a single game or even a single publisher, it could be usable across a whole lot of games from a lot of different publishers. If you buy your currency for a particular game and then quit that game, you still have it and can spend it on another game.
Game publishers get their money when you spend the crypto on their particular game, as they can readily exchange it back for money with the company that created it. But if it can be done efficiently enough, they may be able to get it at lower transaction fees than credit cards normally charge. I'm not sure if it's practical to make it efficient enough or secure enough against fraudulent purchases to obtain the currency, but if so, that could be an improvement over typical item mall practices all around.
That'd never fly with developers and publishers... they like their walled gardens too much.
If some cryptocurrency can fill the same role as credit cards do now and do everything at least as well as credit cards and at half the transaction fees, plenty of publishers will become very interested, very quickly. Businesses tend to be primarily interested in making money, and a walled garden is only a means toward it, not an end.
The currencies need to stabilize.
Their volatility definitely deters many individuals, companies, and even governments from accepting these currencies.
As long as there are bubbles in the system no one will take them serious.
Not all cryptocurrencies are really volatile. Tether is pretty consistently worth $1 per coin.
Volatility isn't really the problem with a cryptocurrency being used in the manner that I describe above. Rather, credit cards manage to be usable by unsophisticated users. If your card gets stolen, you can report it and have charges cancelled. Managing and preventing fraud like that is part of how the banks that issue credit cards earn their money. In order for a cryptocurrency to replace credit cards, it needs to be similarly usable by unsophisticated users without being readily stolen or lost when a user makes a mistake.
If the government/business decided to track products another way suddenly your cache of 1,000 VTHO would be worthless - because it has no inherent value, unlike silver, gold, or bread.
Silver, gold, and bread don't necessarily have as much inherent value as you might think. Silver and gold do have inherent uses, but so does sand, and sand isn't particularly valuable.
Not to nit pick but there are black markets for sand. The type of sand used in building buildings is running out.
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Somebody, somewhere has better skills as you have, more experience as you have, is smarter than you, has more friends as you do and can stay online longer. Just pray he's not out to get you.
If it can be done efficiently enough, it may be possible to use a blockchain cryptocurrency for microtransactions in games. You pay money and get some crypto at a fixed rate, like you normally do with item mall gold or diamonds or whatever the publisher calls it. But instead of that currency being tied to a single game or even a single publisher, it could be usable across a whole lot of games from a lot of different publishers. If you buy your currency for a particular game and then quit that game, you still have it and can spend it on another game.
Game publishers get their money when you spend the crypto on their particular game, as they can readily exchange it back for money with the company that created it. But if it can be done efficiently enough, they may be able to get it at lower transaction fees than credit cards normally charge. I'm not sure if it's practical to make it efficient enough or secure enough against fraudulent purchases to obtain the currency, but if so, that could be an improvement over typical item mall practices all around.
Somebody, somewhere has better skills as you have, more experience as you have, is smarter than you, has more friends as you do and can stay online longer. Just pray he's not out to get you.
The dot-com bubble of the late 1990s lasted a number of years, even though it was incredibly obvious at the time that it was a bubble and a lot of companies with stupidly high valuations should have properly been worth $0, or perhaps rather, whatever someone could get by scavenging and selling their meager assets. Saying that it's obvious that it was a bubble isn't just hindsight, either. I knew it at the time well before it popped, as did a whole lot of other people. Then-Fed chairman Alan Greenspan famously (and accurately) called it "irrational exuberance". And ultimately, it did pop and a whole lot of companies went bust.
Your own rhetoric echoes that of the dot-com enthusiasts at the height of the bubble. "You don't get it" was a common line. Even without a rational basis for the high valuation of a lot of companies that had no plausible way to ever turn a profit, people insisted that stock prices were only going to keep going up and up anyway. And they did for a while--until they didn't.
The dot-com crash may have cost the NASDAQ about 2/3 of its value, but the Internet didn't go away. A lot of companies that had absolutely no business being in business sure did, though. Similarly, in the aftermath of the inevitable cryptocurrency crash, blockchain and cryptocurrencies aren't going to vanish entirely. A whole lot of particular cryptocurrencies will lose basically all of their value, however, including all of the mined ones.
Suppose that at some point in the future, the United States decides to abolish the US Dollar in favor of a cryptocurrency. (Or substitute any other country here if you want, as it doesn't change the argument, at least for countries that have their own currency.) Do you think that they will adopt Bitcoin or Ethereum or whatever and start massively in debt to the mining locusts and speculators who have done a lot of harm in the world? Or do you think that they'll start fresh with a newly minted cryptocurrency that isn't mined at all? I say that it's foolish to bet that either the government or the general population will prefer the former over the latter.
Somebody, somewhere has better skills as you have, more experience as you have, is smarter than you, has more friends as you do and can stay online longer. Just pray he's not out to get you.
I expect that come 2040, cryptocurrencies will be important to the world economy and not just some novelty. However, none of the major, important ones at that time will be mined. Rather, they'll generally be issued by some central authority, often but not necessarily always governments. Furthermore, most or all of the ones that will be really important then don't yet exist.
Something like Ripple (XRP) might still be around, or it might be superseded by some other, better alternative that fills a similar role. That's hard to predict, as a lot can change in 19 years.
For several decades now our money hasn’t been tied to anything except trust and support systems, that has been let go off. The idea that “real” money still has any kind of intrinsic value is outdated, your coins and pieces of paper are basically worthless on their own. Still it has many systems backing it and many people trusting it. The crypto industry is working on both though and at breakneck speed.
Do people really think that when the first real money was introduced to people who traded pigs for rice and lumber it had any value to them? It was just as an abstract idea to them as this is to many people now.
Will it succeed? We don’t know yet since we don’t have a crystal ball. Will it fail? Well, that is just as unknown. What we can see is that adoption is exploding, on both a consumer as business level, and that includes all growing pains that come with it. Downright dismissing the entire industry is cringeworthy though, as is blindly supporting it.
/Cheers,
Lahnmir
Kyleran on yours sincerely
'But there are many. You can play them entirely solo, and even offline. Also, you are wrong by default.'
Ikcin in response to yours sincerely debating whether or not single-player offline MMOs exist...
'This does not apply just to ED but SC or any other game. What they will get is Rebirth/X4, likely prettier but equally underwhelming and pointless.
It is incredibly difficult to design some meaningfull leg content that would fit a space ship game - simply because it is not a leg game.
It is just huge resource waste....'
Gdemami absolutely not being an armchair developer
We have had some good arguments on both sides in this thread and I do see why some posters may be getting frustrated they are still having to explain to the other side the "truth", but that's the nature of debate and we have done well to (if I can paraphrase) "keep it classy".
Just because there are 1% of the time it's used as a proper ledger don't mean nothing. 99% of the time people use it as a get rich scheme.
Not to mention why going through so much effort to use block chain when a simple database can do the same thing.
/Cheers,
Lahnmir
Kyleran on yours sincerely
'But there are many. You can play them entirely solo, and even offline. Also, you are wrong by default.'
Ikcin in response to yours sincerely debating whether or not single-player offline MMOs exist...
'This does not apply just to ED but SC or any other game. What they will get is Rebirth/X4, likely prettier but equally underwhelming and pointless.
It is incredibly difficult to design some meaningfull leg content that would fit a space ship game - simply because it is not a leg game.
It is just huge resource waste....'
Gdemami absolutely not being an armchair developer
When people trade in assets that do have a clear, underlying value and try to push the price away from the proper value (whether too high or too low) as part of a get rich quick scheme, there is typically money to be made in betting that the asset will return to a more sensible valuation. The get rich quick schemers often find that it ends up functioning as more of a get poor quick scheme.
/Cheers,
Lahnmir
Kyleran on yours sincerely
'But there are many. You can play them entirely solo, and even offline. Also, you are wrong by default.'
Ikcin in response to yours sincerely debating whether or not single-player offline MMOs exist...
'This does not apply just to ED but SC or any other game. What they will get is Rebirth/X4, likely prettier but equally underwhelming and pointless.
It is incredibly difficult to design some meaningfull leg content that would fit a space ship game - simply because it is not a leg game.
It is just huge resource waste....'
Gdemami absolutely not being an armchair developer
I asked my daughter if she knew where these folks lived or could look it up work.
She gave me this weird look, asking why I wanted to know and I'm like "What? No reason."
"True friends stab you in the front." | Oscar Wilde
"I need to finish" - Christian Wolff: The Accountant
Just trying to live long enough to play a new, released MMORPG, playing New Worlds atm
Fools find no pleasure in understanding but delight in airing their own opinions. Pvbs 18:2, NIV
Don't just play games, inhabit virtual worlds™
"This is the most intelligent, well qualified and articulate response to a post I have ever seen on these forums. It's a shame most people here won't have the attention span to read past the second line." - Anon
Somebody, somewhere has better skills as you have, more experience as you have, is smarter than you, has more friends as you do and can stay online longer. Just pray he's not out to get you.
When the downturn inevitably came he lost everything, with all of his assets including his family's home ...and well, his family as well since his wife walked out over it all.
"True friends stab you in the front." | Oscar Wilde
"I need to finish" - Christian Wolff: The Accountant
Just trying to live long enough to play a new, released MMORPG, playing New Worlds atm
Fools find no pleasure in understanding but delight in airing their own opinions. Pvbs 18:2, NIV
Don't just play games, inhabit virtual worlds™
"This is the most intelligent, well qualified and articulate response to a post I have ever seen on these forums. It's a shame most people here won't have the attention span to read past the second line." - Anon
Somebody, somewhere has better skills as you have, more experience as you have, is smarter than you, has more friends as you do and can stay online longer. Just pray he's not out to get you.
Volatility isn't really the problem with a cryptocurrency being used in the manner that I describe above. Rather, credit cards manage to be usable by unsophisticated users. If your card gets stolen, you can report it and have charges cancelled. Managing and preventing fraud like that is part of how the banks that issue credit cards earn their money. In order for a cryptocurrency to replace credit cards, it needs to be similarly usable by unsophisticated users without being readily stolen or lost when a user makes a mistake.