[dba-Tech] BlockChains etc.
accessd at shaw.ca
Sun Jul 16 12:58:49 CDT 2017
Here is what I know...
Blockchains are a very interesting subject and there has been a lot of controversy around the tech. The tech drives all money exchange application like Bitcoin. It is not owned by any company or country as its core is open source. Bitcoin's blockchain technology makes it unhackable therefore any amount of digital money can be sent around the world without being interfered with. If the money transfers blockchain is compromised in anyway it is immediately apparent and the transfer fails.
Many believe it is little more than a way criminals can transfer cash without fear of law enforcement intervention. To that end the state of Florida has banned its use. OTOH, many major companies and countries support Bitcoin and its blockchain core; many banks are starting to use it like Western Union that uses it for money transfers around world and the US postal service. China initially banned its use but now supports a very stable and hack proof Bitcoin banking service. Countries are slowly starting to officially adopt the product...the latest being Japan and India.
If you had bought into Bitcoin about a decade ago (2008 it started), you could have gathered a hundred of so coins for a few dollars each...the current price is around $2,500 and it has been higher. A friend who successfully guessed its potential value bought a house, acreage, on the ocean, up at Haida Gwaii, earlier this year, on the profits.
Here is a link to but a cursory look at the blockchain math that has driven Bitcoin and the hundred or so similar products:
So there you are and what little I know.
----- Original Message -----
From: "Arthur Fuller" <fuller.artful at gmail.com>
To: "Discussion of Hardware and Software issues" <dba-tech at databaseadvisors.com>
Sent: Sunday, July 16, 2017 10:21:09 AM
Subject: [dba-Tech] BlockChains etc.
I've only begun to research this subject, so call me Way Behind The Trend.
I sort of get it, but don't have even the slightest inclination how it
might apply to me, my occasional clients, and the non-profit enterprise
world at large. Can anyone enlighten me or offer links to help me figure
I am without desire to command big salaries, although a minimal wage is not
to be sneezed at. Was a time when I did want to make lots of money, but
that's gone away. I don't declare this because I'm wealthy and able to own
a house and an estate. In essence, I have nothing more than the vintage
stereo equipment and the extensive First Editions of my writers of interest
-- no real estate, no funds hidden in Switzerland -- nothing, in short, to
provide for my fu politically and emotionally motivated to work for
non-profits. As yet despite my fascination with the theoretical aspects of
this stuff, I cannot see any immediate application to the sphere of my
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