Why are We Talking about the Blockchain?
Why are we talking about the blockchain, you may ask? Here is why. The news is abuzz with the rise of bitcoin. At the time of our interview, the value of bitcoin was around $6000 and by the time the podcast went live, the value has risen to $18,000. That can make your head spin. Especially when most understand that the original price of a coin was less than a dollar.
What a great investment!
But even those who haven’t invested in Bitcoin are starting to pay attention and want to know what this is all about. Well, Bitcoin is an application on the bitcoin blockchain.
And here it is. That is why we need to know what a blockchain is. It is technology which is coming into our lives if we want it or not.
So, let’s find out about this technology and see how we can use it to help us in our quest for a sustainable lifestyle.
Who is @taskmaster4450?
You might wonder who our guest is and why we had him on the podcast. Well, I did meet him on the social media platform called Steemit and enjoyed his articles. I thought they were rather informative.
But I let him tell you in his own words who he is and why we can trust his expertise.
Technology is a passion of mine. I am a futurist and a technologist. I am very optimistic about the future because of all the technological innovations that we will see in the next few decades. We are living in a digital world. Each day more of society enters this realm.
I help others to embrace and understand what is taking place. Managing information is at the core of this transition. Companies/Individuals are best served to step back to take a broad spectrum view.
Some of the exciting developments:
- Business Process Automation
- 3D Printing
- 5G technology
- Quantum Computing
- Big Data Nano technology
- Solar Energy
- Electric/Autonomous Vehicles
- Battery Power
- Artificial Intelligence
- Internet of Things
- Human Longevity
It is certainly an exciting time to be alive and in the business world.
Some Highlights from the Podcast
- The blockchain is the technology.
- Cryptocurrency is an application on the blockchain.
- The blockchain is a decentralized public ledger.
- Banks are centralized.
- cryptocurrency is a protocol designed by algorithms that cannot be changed.
I know this sounds rather cryptic if you are a total beginner. I highly encourage you to listen to the podcast – more than once. Each time, you will understand a bit more.
One question I asked @taskmaster4450 – showing very much that I am a newbie: “What can the blockchain do?”
His response was that that is like asking what can the internet do. The possibilities are endless.
If you remember a pre-internet time, you know that at first, only a few people embraced this technology and many thought that it wasn’t necessary to get familiar with computers and the internet.
Fast forward to today, only 20 years later, almost everything is done via the internet. As a matter of fact, senior centers are making it a point to teach basic computer and internet skills. Many tasks have to be done online – things like applying for Medicare, insurance and so much more.
@taskmaster is predicting that it won’t be long until everything will take place on the blockchain.
We mentioned Metcalfe’s law on the podcast. If you are not familiar with the term, read more here.
Many of us might not have any money to invest into cryptocurrency. The advice given over and over by experts is to only invest money you can afford to lose. Of course, that is sound advice for the stock and bond market as well.
But the good news is that it is easy to earn cryptocurrency. Let me share two ways with you.
The first one, we also mentioned on the podcast, is Bitrad.io. Basically, you are earning a currency called BRO for listening to the radio. There are many stations to choose from.
Not all seem to be working for me, but I found a few I like and am playing them in the background – earning for listening. Don’t get too excited – BRO is not worth very much right now. But one never knows what the future will bring. And listening to any other stations earns a big Zero.
Please use this referral link to open your own account http://bitrad.io/?ref=97511
If you like this idea, you can find a referral link in your own profile and share it with your friends. You end up with a little extra this way.
This is a social media platform which is an application on a blockchain. Steem is the currency associated with Steemit as well as SBD (Steem Backed Dollar).
The way to earn those currencies is to post quality content on the platform. People vote for the content and that is how the earnings accrue.
Recently, the price of both Steem and SBD has been on the rise – it has been as high as $ 20 US for $ 1 SBD. But trading and how to take advantage of those opportunities will be the subject of one of the segments we are planning to bring to you on a regular basis.
To get your own account, go to Steemit.com. If you do, let me know and I am happy to help you maneuver. It can seem a bit overwhelming in the beginning.
But more and more applications are developing on this blockchain. For example, you can listen to our podcast on DTube. Click here to check it out. How cool is that!! I posted it one hour ago from this writing and so far, it earned me $0.31. Not overwhelming, but 31 cents more than hundreds of listeners earn on any other podcatcher.
Other applications are DTube – similar to YouTube. And of course, you can listen (and watch a graphic) to this podcast there as well.
Other applications are Steepshot – comparable to Instagram, and Zappl – comparable to Twitter.
For all I know, there are many more applications. Maybe you are a developer and are ready to develop your own application.