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kneehighs

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kneehighs last won the day on April 21 2016

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About kneehighs

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  1. Remember the Rogers Diffusion of Innovations Graph I shared a few pages back? The path to critical mass is NOT to win over the masses right now. The path to critical mass is to first hit the Innovators and Early Adaptors. We're still years away from blockchain hitting critical mass. So people with a more averse stance towards new technology's in general can wait.
  2. It's been awhile since I've had time to sit and contribute here. Here's a good article on Venture Beat that gives a simple summary of the benefits of blockchain. The article steers away from the usual Bitcoin talk. https://venturebeat.com/2017/10/15/how-blockchain-promises-to-speed-up-tech-evolution/
  3. LOL, classic anti crypto bullet points based on Fear, Uncertainty, and Doubt. (This is often trying to control the frame, a political tactic for communication). Sega was afraid of innovation and look where it landed them. Bell South, Wang Computers, Blackberry and Word Perfect were afraid of innovation and look where it landed them. DEAD. Amazon, Apple, and Sales Force aggressively pursued innovation. Their stock performance was up 600-1800% over the last 10 years. I don't know about you, but that's where I want to be. On the offense with new tech, not asleep at the wheel and let it catch me by surprise when it's too late.
  4. Ad-blockers and other browser extensions solve this. Just because someone uses a car to run someone over doesn't mean never use a car.
  5. You've never had people illegally redistribute your photos? I am friends with a lot of photographers who have this problem. On a major scale too.
  6. There's so much opportunity still, it's really about planning your work and working your plan. And determination come hell or high water to make it happen. https://www.freesociety.com/ these guys are making a country! If you're a photographer for example, one could seek to replace centralized agencies like Getty or Imax Tree, with a decentralized peer-to-peer photo sharing system. You'd have a core image registry, with undisputed proof of ownership in the first image. The image itself wouldn't be stored on the blockchain, but the Meta Data Provenance could be (time stamp, signed). A web crawler bot could search the web using an image matching technology. Y-Combinator has a thread on this: https://news.ycombinator.com/item?id=12529729
  7. For those that have time, an interview on Bloomberg TV with former Goldman Sachs partner, Mike Novogratz. Mike keeps about 20% of his portfolio in crypto. I left it playing in the background while I pack to move to a new apartment. https://www.bloomberg.com/news/videos/2017-09-26/how-macro-trader-novogratz-became-a-bitcoin-convert-video
  8. Focusing on just Bitcoin does a disservice to other beneficial services blockchain can provide. Governments like people, fear what they don't understand. Or in this case, what they can't control. With regards to taxation, money laundering, and money supply control, these are inevitable showdowns between crypto and governments. Take China as a case in point. From a global perspective, it's like a game of "whack a mole" http://gph.is/2lVWWY8. China may whack it, but people in other countries with less restrictive regulations like the US, Russia, or Japan will just pop up to compensate. Some countries will follow Switzerland's lead. My wager is that eventually China will follow Switzerland, Australia, or Britain's approach to regulating crypto. Eventually they will allow reintroduction of crypto, under a more rational regulatory framework they can work with. On the upside for Bitcoin, there is a report from James Altucher (co-founder of 20 companies, former Hedge Fund Manager, Venture Capitalist, click here for LinkedIn profile) that Amazon has plans to announce acceptance of Bitcoin as early as October 26th. Let's see if that holds true.
  9. The Jaunts of JeffB!

    @JeffB You're so lucky you get to see Rittenhouse Square so often. I love that area of Philly. Not flooded over with high rises. Maintains some architectural character. The food at Parc Restaurant Bistro and Cafe never fails to deliver either! Can't wait to go back.
  10. Interesting. I got my first iPhone in 2008, back when everyone thought the smooth screened buttons would never fly. Produced an award winning VR film, the first of it's kind in 2015. Now back to real life (which includes due diligence on many blockchain applications. Clearly I have my work laid out for me if this is a direction I choose to take). This is a cool toy that really allows you to see the tech side of blockchain. Play with it and watch the numbers change. https://anders.com/blockchain/blockchain.html
  11. If this weren't hhplace, I wouldn't have spent nearly the amount of time in real life discussing the issue (no smart phone is key indicator). I say that with respect. We do after all live in a digitally distracted world, documenting rather than experiencing life. Rogers Diffusion of Innovations explains "an experimenter by nature" with regards to new technology adoption. Each type signifies a psychological attitude towards new tech adoption. It's not gospel, but it aids in understanding the differences in types of people. When time and money in real life is at stake, I'll qualify my efforts towards Innovators and Early Adopters. Par for the course.
  12. Of course it will take time and a lot of labor. To doubt that would be naive. It took the internet decades to catch on. Yet new technology is getting cheaper, smaller, and faster. And with social media enabling more rapid transmission of ideas--it will surely take time--transformation should be benchmarked alongside new communication systems too.
  13. @Shyheels I had to respectfully laugh at your scenario. It was worth a chuckle. This is a good point though. To really understand bitcoin, one has to mentally labor to understand the technology and money. Both come with their own jargon, that if not used, compromises the integrity of the message. I am actively on the hunt for metaphors though.
  14. First of all, lets not forget that bitcoin is just one small aspect of blockchain. Bitcoin is also only one version of a crypto currency among hundreds. Other currencies exist like Ethereum and Litecoin, neither of which have received any attention in this discussion. Furthermore, let's not forget my overlooked statement that people deal with risk emotionally and mostly from a potential for loss. Risk diversification across different markets is the best long term strategy to maximize portfolio security without exposure to a single point of vulnerability in one market. Regarding your first concern, what you are talking about would be called a "fork". One group of users would argue for code that enforces fixed supply. Another group of users would argue for new code that mines additional supply, subjecting Bitcoin to inflationary characteristics. This rival group position would give bitcoin an inflationary characteristic. Inflationary characteristics are common to FIAT currencies like the British Pound or US dollar. When new units get injected into the economy, the buying power of each dollar unit goes down. This probably won't happen until around 2140, when most experts agree that the last bitcoin will be minted. By then, a huge user base of Bitcoin will be accustomed to over a hundred years of Bitcoin's deflationary characteristics. Psychologically, the odds of changing the fixed supply code are low. If you think of dictionary definitions as code, you may better understand. For hundreds of years, the Oxford English Dictionary has "coded" the word UP as "towards a higher place". If suddenly they changed the code for UP to mean "towards a lower place" that wouldn't change the definition. The huge user base would reject the new definition (code). By consensus, people would just say the Oxford English Dictionary is wrong. Users would reject the new code because the benefits of the new definition would not outweigh the "broken compatibility" it would introduce into communications. After over a hundred years, the Bitcoin network will realize it's fixed supply value and resulting deflationary characteristics are a key component of it's value. It will no longer be Bitcoin to add supply and change code. Likely won't happen. Furthermore, bitcoin has already thrived over time through 4 forks. So even if another fork arrives, it will arguably thrive through that fork as well.
  15. Some portfolios can tolerate the risk associated with Crypto and do so comfortably. Absolute certainty doesn't come with any investment. When it comes to risk, people deal with it on an emotional level, and really deal mostly with the potential for loss. "Diversifying across the spectrum of risks — particularly pursuing investments that face different conditions so that their success or failure is not all tied to the same market characteristics — is widely considered the best way to build a portfolio that can be depended on over time, because it ensures that no one risk will turn into the problem that kills a portfolio." MarketWatch. The value of Crypto only as a currency like Bitcoin or Ethereum also overlooks the many other values the underlying blockchain technology can bring.
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