Blockchain retrospective and Bitcoin perspective. Tone Vays’ predictions and forecasts



they're gonna come up with different ideas well this is Bitcoin but with this little feature and this is Bitcoin with this little feature in that little feature and this is Bitcoin with this feature but not that feature we're gonna remove this we're gonna add this and I think it's gonna be a very interesting 2018 dealing with it and it's way too early to predict what's gonna come in 2019 so right now we're in 2017 and it feels like every year there is another trend in 2012 it was mostly just Bitcoin in 2013 the first old coins came out and 2014 is where we had this old coin boom with a light point I'd like one came out earlier but others like – and some of the other ones that Manero and this is when they were starting to become popular and what was talking about old coins that was 2014-2015 this is where the word blockchain started to come out and if people wanted to you know do new databases and we need a blockchain and everything is gonna be block chains this is also when new applications were coming out things like a theory and things like bitshares the latest one coming out is you OS and waves came out it's not too long ago this is the world computer for smart contracts which is also its own currency that's the part that I find problematic you can do some art contracts you don't need to create your own currency alongside but now 2017 seems to clearly be the year of the ICO this is where you have some kind of an idea in your creating your own currency your own application token just to sell your idea no matter what that idea is everywhere so what is gonna happen next because every year the trend completely changes we just had B cash and what d'caché did was it took the most decentralized the most spread around the world token which is Bitcoin and it started everybody off with some of this alternative from the from doles that already have it this might be the new model for 2018 we'll have another one of these come out later this year with seg with 2x because they don't like those big blocks they want their own different kind of big blocks and I think this could be the next model because it's hard at this point to sell your token people are starting to get caught up the easy money has been made how do you make the next round of easy money so what you're gonna do is you're gonna look for some of these successful crypto currencies like a bitcoin like a theory of unfortunately it's pretty widespread maybe a few others and you're gonna clone it and sell it in a way to have people that to be already invested by default because they have the most decentralized currency like Bitcoin so works of Bitcoin are about to become very popular in my opinion they're gonna come up with different ideas well this is Bitcoin but with this little feature and this is Bitcoin with this little feature in that little feature and this is Bitcoin with this feature but not that feature we're gonna remove this we're gonna add this and I think we are about to see a world with a bunch of bitcoins maybe they'll start changing the names of their Forks but they're gonna kind of force people like myself through Bitcoin believers into some of this easy money and unfortunately promoted alongside because everyone asks us questions well what do you think of this clone what do you think of that clone and we will already be invested in these alternatives not that we want to but because of the way the system is designed and I think it's gonna be a very interesting 2018 dealing with it and it's way too early to predict what's gonna come in 2019 so in the next 12 months I'm really looking forward to our first lightning transactions and this was one of the big battles we've been dealing with for almost two years now how do we scale Bitcoin and the smartest solution from the engineers from people who have been doing this for five six years is we can't hard work we can't force everyone to use a bigger block and it makes no sense even if we could force everyone to make a bigger block what is it gonna do you're just making the highway bigger and what's gonna happen later you're gonna have to make it even bigger you've got to have a better solution can't keep making a highway bigger and storing all that data becomes a bit problematic and there could be additional mining centralization so the solution was segregated witness and what's a year witness does is it eliminated weight eliminated this bug called transaction malleability once transaction malleability gets eliminated we will be able to start testing out second layer scaling solutions which by some accounts would give us thousands of transactions per second perhaps one day even infinite number of transactions a session and I'm really looking forward to seeing real real scale so I'm really looking forward to that and that should be coming towards the end of the year if not early next year our first real life commerce transactions enlightening which is off chain transactions which are secure and potentially more private speaking of private there is another development that is happening is that some poor developers are really looking at fungibility solutions so fungibility is such a word used to for privacy purposes so that every bitcoin or every part of a Bitcoin is as anonymous as any other part of a Bitcoin Bitcoin isn't fully anonymous right now and there are plenty of companies that are tracking everything people are doing and trying to identify people using Bitcoin some of the projects that people are working on one of them is called nimble Wimble which would strongly help with this fungibility there are also other projects like confidential transactions and some of these some other ones so I'm also looking forward to that but to me this privacy and fungibility was always something good as a layer on top of the coin putting full privacy on the Bitcoin foundation on the blockchain itself would eliminate a Bitcoin from being used in ways where you don't want full plunge ability sometimes we want to know who's using the money and who's spending the money I know that the government always wants to know how the people are using and spending the money but the people want to see how the government is using and spending the so I was always of to believe in that when it comes to money if you're a private citizen and you work and and you earn your money through voluntary means people are buying your service people are buying your product people are happy with your service or product you should have the right to full privacy and use that money in any way that you like when it comes to government and tax collection because they collect from the productive people and claim to spend that money for the good of those people all of those transactions need to be public for the people that they take the money from so having full Bitcoin fungibility is not good because then you would not be able to see how the government is spending the money if you can get a government to adopt a system like Bitcoin and that's what I'm looking for we have fungibility as a second layer and then you can easily have certain aspects of the economy showing you all of the transactions while another section of the economy is able to completely make their transactions anonymous and one day hopefully somebody from my generation will run for politics and they would push for this open view open spending of money from the government side of the equation you

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