Hello!
I am sorry, sir, but your words make me doubt that you support all that this community stands for - decentralization.
Don't get me wrong, but what you are trying to communicate:
-that the decentralized insurance is not needed, because there are centralized insurance companies
- that p2p lending is not needed, because there are centralized banks that know better how to give you money.
-that Blockchain is not needed, because there is MC and VISA to transfer money
-that p2p money such as Bitcoin is not needed, because there are Central banks as emission centers.
You vote for government control and centralized corporate structures such as banks and insurance companies
Sorry, but that was the last thing i expected to hear on Bitcointalk.
Hello Leo Mor,
Not only did you claim business problems that do not exist, you are claiming that I wrote things that I did not.
- I never wrote that decentralized insurance is not needed. Re-read what I wrote.
- I never wrote that p2p lending is not needed, because there are centralized banks that know better how to give you money. Provide the quote. In past comments, I pointed out a poll of Bitcointalk users, the majority of which voted that they do not believe in Bitcoin banks. I did not tell them to vote that way. But if youre investing in a crypto bank, you should be aware of this. I assume that they voted that way because it is risky to centralize your money, such as in an exchange (dozens have been hacked and stolen from) or investment fund ($50 million stolen from DAO). Even Andreas Antonopoulos, the biggest optimist of Bitcoin, warned about creating a honey pot.
- I never wrote the Blockchain is not needed because there is MC and VISA to transfer money. Provide the quote. I wrote in the OP:
There are only a few applications that make a lot of sense for the blockchain: transfer of value (currency), store of value, remittances (disrupt Western Union and bank wire transfers), smart contracts, gaming and gambling. These applications will disrupt their respective industries, because the blockchain will provide a lot of cost-savings or time-savings to the users. There might be other applications that make sense that I missed, but applications proposed by many ICOs do not make sense. Jesus Coin is an extreme example, but there are applications that fall across the spectrum from Jesus Coin to Bitcoin.
Blockchain is needed for many applications, which I cited. It takes several days and a lot of fees to withdraw from gambling sites. Crypto is a great solution for replacing credit or debit cards at gambling sites.
- I never wrote that p2p money such as Bitcoin is not needed, because there are Central banks as emission centers. Provide the quote.
- Decentralizing is a feature. You need to explain what benefits it creates for your application. Customers do not care about features. They care about benefits, such as saving time or money. REGAs customers will not save money if they do not invest the premium pool properly.
Decentralizing a currency provides benefits to the currency, such as no single entity (government) can control it, shut it down or print more of it. Decentralizing is needed to create the blockchain and maintain the integrity of the ledgers for a cryptocurrency. Decentralizing is needed for Proof of Work, Proof of Stake, Delegated Proof of Stake or Proof of Importance. Without decentralization, you would not be able to create a crypto currency.
Now that decentralization has created a crypto currency, what are the benefits of the crypto currency over existing currencies? It can be transferred much faster and cheaper than bank wire transfers, Western Union or credit/debit cards at gambling sites. In the long run, it should be better at storing value than fiat currency because governments keep printing more fiat. It is better at storing value than gold in some respects, such as divisibility and cost of storage. These are the benefits ultimately.
You want to create an insurer (or insurers) by decentralizing the stakeholders. (Mutual insurance companies have already decentralized stakeholders.) Now that you have created an insurer, what are the benefits of your insurer over existing insurers?
Based on your approach and method, it has flaws, and investors should be aware of these flaws.
You havent been able to show how the flaws are not flaws. This is what you should be doing to win the confidence of investors.
Nobody buys Bitcoin because it is decentralized. People buy it because it stores value and transfers value faster and cheaper than fiat.