Blckchain is a powerful technology that will change the way we transfer value forever.
2 Likes
What if there is no longer an incentive to mine/run the blockchain (bitcoin runs out or mining becomes very slow)? Wonât the bigger companies be the ones keeping the blockchain nodes up? This will eliminate all decentralization as these companies will be the ones validating transactions.
Why would larger companies then want to keep the miners running if there would be no incentive to mine? 
for the same incentive that SWIFT runs. Exchanges replace central banks. Bitcoin becomes similar to digital fiat money, with more security, transparency and efficiency, but with no decentralization or the trustless qualities. It essentially becomes a global currency, and we will start trading in the satoshis instead of the actual bitcoins. Each satoshi becomes worth a cent or less, and thats how we trade. Itâd be a bigger step from digital fiat money butâŚit will no longer be trustless. At least thatâs my theory, Iâm very open for other arguments.
Also, even if there wasnât an incentive, wouldnât the blockchain just disappear?
Trading in satoshis is nothing bad, its actually more desirable and used on Lightning. People are more prone to owning full parts of a thing than a portion, which is why I think is one of the reason for the success of Dogecoin.
Still there is no reason for thinking that once there is global adoption that the system will become centralized. It all depends on the decentralization of miners (or validators in PoS systems). Admittingly Bitcoin mining is fairly centralized these days and think that Ethereum will eventually be far more decentralized as it fully moves to PoS. 
As for your question, yes if there is no incentive the blockchain would most probably disappear.
I didnât think that trading in satoshis is a bad thing, I think itâs a great thing as bitcoinâs granularity could become a convenience. Regarding it becoming globalized, I would dislike that from a more political aspect. The issue that I have is if there is no incentive, one of two things may happen:
- Blockchain will disappear
- Bigger companies will be the ones verifying transactions, as no regular person will be incentivized to run a node
I do agree with POS being a possible solution.
Hi,
Transparency, you can track any transaction done in the past.
Decentralized
2 Likes
Security, speed, cost, de-centralisation.
Blockchain is an incredible invention & will revolutionize this world (& Mars!) in some incredible ways.
Just look at what some ALT coin companies are doing already within this spaceâŚ
3 Likes
Benefits of using Blockchain:
- enhanced Security
- greater Transparency
- instant Traceability
- Efficiency and Speed
- automation with Smart contracts
- cost Savings
- eliminates the need of THIRD party or middlemen
3 Likes
First currency is centralised and controlled by Central Banks and Governments
1 Like
The beauty of all the power not being concentrated by one entity.
1 Like
itâs outside governmentsâ hands, it brings freedom to people by allowing them to do whatever the heck they want with their finances, it cuts the middle man, it is secure
1 Like
As far as I understand it one of the biggest benefits of using Blockchain is that it decentralizes the process in which the blockchain is used for. Secondly, the technology makes it extremely difficult to manipulate the results. As I continue to learn the intricacies of blockchain Iâm sure Iâll find other benefits of blockchain technology. Looking forward to discovering even more benefits.
1 Like
Whereas there are so many merits in the Blockchain, I guess there are dismerits, too. Though nobody mentions here, I want to find a few while I am learing it.
Worldwide!!! I do travel a lot and in every country is just so complicated to think in different numbers, fees, exchanges of that country and it also is so complicated to change and use that currency. And even with the universal american dolar, it is so complicated. Definitely this will help to make things faster with lower cost.
1 Like
It is immutable and transparent and decentralized. I canât wait for it to be used as a voting tool in elections as one of its many use cases. And to also learn about new use cases for the blockchain. 
2 Likes
It gives me a better understanding of bitcoin and its history as well as its future.
1 Like
Can you still call it immutable when a chain can be rolled back?
Ivan you mentioned you can only add to a blockchain and not substract.What happens when a chain is rolled back?
Just started the course.?If Iâm too early with my questions or there is a better place to post the questions,please let me know.The part where Ivan mentions about how blockchain works with a network of ledgers is interesting but how do they exactly communicate with each other ,how are these ledgers exactly connecting and communicating with each other.Do you just install a full node and then they are all connected?