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Why “blockchain” is BS in 4 slides

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Re: Why “blockchain” is BS in 4 slides

#21

Post by InclinedPlane »

JumpCrisscross wrote: post #17

In my travels across the country, one angle of cryptocurrencies I take solace in is its relative confinement to younger urban coastals (note: I'm one of these). Its proponents can, for the most part, afford to lose their investment. In a decade's time we'll have a generation of investors with a healthy sense of wariness.

That is not true in either case. Cryptocurrencies have gone mainstream recently, receiving a lot of attention by the mainstream press. Additionally, there's no proof that being burned by cryptocurrency shenanigans leads to greater wariness in the group as a whole.

Re: Why “blockchain” is BS in 4 slides

#24

Post by jayd16 »

CyberDildonics wrote: post #3

This is an exceptionally terrible 'presentation'. He says something about distributed trust and then puts 'THIS IS A LIE'. That's not evidence and it isn't an argument. He states that developers act as a central authority, which as it relates to the rules of creating new units and where they go to, is not true, since those rules are already established for the given chain. He says there is a fee auction death spiral,…

>He says there is a fee auction death spiral, which also is demonstrably false.

Pretty sure its demonstrably true seeing as BT has gotten so bad the marketing changed from currency to store of value.

Re: Why “blockchain” is BS in 4 slides

#25

Post by arisAlexis »

mjamesaustin wrote: post #2

Isn't he discussing cryptocurrencies in particular rather than blockchain in general? There are many uses for blockchain other than as a cryptocurrency. Correct me if I'm wrong - I'm not an expert in blockchain by any means.

yes ofc. don't read much onto biased hate posts

Re: Why “blockchain” is BS in 4 slides

#26

Post by InclinedPlane »

CyberDildonics wrote: post #6
InclinedPlane wrote: post #4

Earlier quoted context omitted.

It's a presentation deck not a paper.

I'm not sure how that changes the fact that everything he says is either completely untrue or irrelevant. If you want to point out an inaccuracy in what I've said, feel free.

Excuse me, this is just an assertion. By your own standards you should really back up all of these claims with extensive evidence.

Re: Why “blockchain” is BS in 4 slides

#27

Post by JumpCrisscross »

InclinedPlane wrote: post #21
JumpCrisscross wrote: post #17

In my travels across the country, one angle of cryptocurrencies I take solace in is its relative confinement to younger urban coastals (note: I'm one of these). Its proponents can, for the most part, afford to lose their investment. In a decade's time we'll have a generation of investors with a healthy sense of wariness.

That is not true in either case. Cryptocurrencies have gone mainstream recently, receiving a lot of attention by the mainstream press. Additionally, there's no proof that being burned by cryptocurrency shenanigans leads to greater wariness in the group as a whole.

> Cryptocurrencies have gone mainstream recently, receiving a lot of attention by the mainstream press

They receive a lot of press attention because people like me, who don't own any cryptocurrencies and never plan to, find them fascinating. When I'm in San Francisco or certain bars in my Manhattan neighborhood, people talk about owning them. When I'm at a restaurant in Phoenix or Salt Lake City or Raleigh, it's people observing the phenomenon just like I am.

> there's no proof that being burned by cryptocurrency shenanigans leads to greater wariness

Fair enough. My basis is the general wariness that followed the Great Depression. (Counterfactual: no such enduring effect followed the dot-com bust nor the financial crisis.)

Re: Why “blockchain” is BS in 4 slides

#28

Post by pdpi »

mjamesaustin wrote: post #2

Isn't he discussing cryptocurrencies in particular rather than blockchain in general? There are many uses for blockchain other than as a cryptocurrency. Correct me if I'm wrong - I'm not an expert in blockchain by any means.

In the strict sense? Git histories are blockchains, so there’s definitely a use. In the loose sense? People seem to conflate “blockchain” with “decentralised concensus”. At least nakamoto consensus doesn’t work outside of currency-like applications. PoS-based systems are probably bound by the same limitations there, too.

Re: Why “blockchain” is BS in 4 slides

#30

Post by School-Cotton »

pdpi wrote: post #28
mjamesaustin wrote: post #2

Isn't he discussing cryptocurrencies in particular rather than blockchain in general? There are many uses for blockchain other than as a cryptocurrency. Correct me if I'm wrong - I'm not an expert in blockchain by any means.

In the strict sense? Git histories are blockchains, so there’s definitely a use. In the loose sense? People seem to conflate “blockchain” with “decentralised concensus”. At least nakamoto consensus doesn’t work outside of currency-like applications. PoS-based systems are probably bound by the same limitations there, too.

I have never seen someone use “blockchain” to describe a structure which can be rewritten or tampered with. Git commit dags aren’t a blockchain by anyone’s definition, as far as I’m aware.
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