Entertainment on the blockchain with ICOs: Opus, Viberate’s convicted felon adviser, Kim Dotcom.

 

My previous advice — if anyone pitches blockchains to you, kick them in the nuts and run — still stands.

4 thoughts on “Entertainment on the blockchain with ICOs: Opus, Viberate’s convicted felon adviser, Kim Dotcom.

  1. Bitcoin is a tulip craze. A Ponzi scheme. Wonder why government regulators around the world don’t just shut them down. Some even started to embraced it. Because blockchain works. Smart contract is very very new – not even 3 years old. Yes, there are scalability issues etc etc. Sure there are scammers out there. Just do not throw the baby with the bath water yet. Anyway, good for you to point out the short comings.

  2. Maybe I use the wrong term or we meant different thing. I always like to avoid the term smart contract. Ethereum ‘smart contract’ is only as old as Ethereum. You are right, the current security is for writing the program that supposedly execute itself is atrocious. Ethereum is trying to fix this with their next interaction. Do we need to use such programs or when? TCPIP took decades to be adopted and now we use this protocol as second nature. Yes, there are people who takes advantage of this nascent blockchain technologies to over promised solutions. That does not mean it is not a good technology. Use for what it was meant for in the first place – bitcoin is a proven case in point and there will be people wanting to use it for their own purpose. As the demand for it is more than its supply – the value goes up. Will people stop using bitcoin – like the sudden stop in the buying of those tulips ? Maybe. But the technology is proven. Just like windows or Apple OS, there will be very smart people building more secured application around this technology. You are right again, some of the implementations should not be adopted yet.

  3. As one who has worked the door at clubs, I can assure that everyone in line will happily wait for, oh, 300 cryptocurrency transactions to be made, when everyone arrive fifteen minutes before the top-billed act is about to go on.

    And if it’s a big name act, then there might 3,000 or 30,000 such transactions. Yup, this is way better than paying with cash or cards.

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