barbarianhorde wrote: I said if even bit coin survives as expensive as it is processor wise then damn sure blockchain will succeed in becoming payment standard.
You are still missing the point. It's like saying that TCP/IP packets will be the standard of Internet commerce. It's meaningless. TCP/IP is just a communication protocol. You can use it to make payments or look at LOLCats. Blockchain is the same. It's just a clever solution to distributed consensus. You can use it to make payments or look at LOLCats. You could invent an LOLCatCoin tomorrow morning and it would work just fine. Blockchain is a "payment standard?" No it's not. You might not understand what blockchain is if that's what you think. I wonder if you have any idea what a payment standard is.
... ps ... It occurs to me that my meaning might not be clear. Blockchain is an enabling technology for a lot of other applications, one of which might be money.
Think about how electronic money works today. You go to Amazon and buy something, paying for it with your credit card that's associated with some bank. So "money" already involves nothing more than flipping bits in a computer and transferring those bit patterns around a computer network.
But it would be wrong to say that "The Internet is money." Rather, the Internet is an enabling technology for money. In order for your bank and Amazon to exchange enough data reliably and securely to perform a financial transaction, there are many many MANY layers of proprietary software built over the years by Amazon and your bank; conforming to many standards and best practices for doing electronic commerce. It's all those layers of software and standards and best practices that are electronic money. The Internet itself enables electronic commerce, but a lot more is involved. Far more than enduser consumers will ever know or need to care about.
Likewise with blockchain. It's an Internet protocol that supports distributed consensus algorithms on adversarial networks. It's a pretty clever solution but it has problems, such as scaling and true security. Eventually a lot of the modern world will run on blockchain-enabled applications. But those applications, protocols, and industry standards have yet to come into existence. When they do, blockchain will support money. But blockchain won't be money, any more than hammers are houses.
Bitcoin itself is a very early experiment in trying to implement money on a blockchain network. Bitcoin's many well-known drawbacks point the way to the years of research and experiment that will be needed before reliable money can be implemented on the blockchain.