Systems built on trust, norms, and institutions function better than blockchain
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Re: Systems built on trust, norms, and institutions function better than blockchain
#2No coiners. Its fine, we will listen to them protest for years and years, telling us it cant work, it isn't a real solution, etc, while we invent the future.
This internet thing will never take off, you need a box that screeches, connected to your phone all day long! I can't even get faxes while im 'online'. Pointless.
Re: Systems built on trust, norms, and institutions function better than blockchain
#3Blockchain is actually a technological shadow cast by a sociological proposition, which is then you can trust people to voluntarily deprive themselves of leverage for the sake of the greater good.
Blockchain is essentially a tool for measuring how much leverage different nodes have in a network system. All of the functional premises of blockchain depend on the assumption that the only leverage that exists in a blockchain network is that which can be represented by the various metrics exposed by the protocol. Obviously this is not the case, networks are often stacked with multiple layers, not all of which are visible to instrumentation, and many are deliberately hidden or informally created as the opportunity arises. Cliques form, whether by design or merely as a consequence of some underlying structure or geometric boundary domain, influence builds around them, and sooner or later someone finds the ideal geometric position from which they can become the center of decentralisation.
This is essentially another instance of goodhart's law, which states that the moment any given metric becomes a useful target for optimization, it ceases to be a useful measurement. Or another variation of this same observation, the McNamara fallacy, which can be summed up as the belief that the only factors in a system that count, are those that can be counted.
Re: Systems built on trust, norms, and institutions function better than blockchain
#4Shockingly, technology has multiple uses, some better fits than others.
I think you’re crazy if you buy crypto unless you’re buying drugs, but this man’s lack of imagination wrt a no-trust public record is absolutely boring. Sure, if you’re blind, the world is dark. But we can always close our eyes to pretend—it’s never been difficult to be cynical about technology.
Re: Systems built on trust, norms, and institutions function better than blockchain
#5Blockchain consensus algorithms are slow and use a lot of power. There may be competing technologies, like Hashgraph, that solve speed and power usage issues in the future. As of now all live implementations of blockchain are underwhelming.
Re: Systems built on trust, norms, and institutions function better than blockchain
#6One thing is sure, if you're hanging on to the past you'll always lose in the end.
That's not to say blockchain is the be all and end all, but constantly hunting for arguments why something will never work , is not only terribly boring, but IMO the most counterproductive way to look at anything.
Re: Systems built on trust, norms, and institutions function better than blockchain
#7Blockchain is perfect for its original use case, a distributed trustless database. The tradeoffs don't make any sense for a trusted system, i.e. replacing SWIFT or storing titles to property.
Re: Systems built on trust, norms, and institutions function better than blockchain
#8Blockchain consensus algorithms are slow and use a lot of power. There may be competing technologies, like Hashgraph, that solve speed and power usage issues in the future. As of now all live implementations of blockchain are underwhelming.
Not all. I think you are specifically talking about Bitcoin (Proof of Work)
Re: Systems built on trust, norms, and institutions function better than blockchain
#9No coiners. Its fine, we will listen to them protest for years and years, telling us it cant work, it isn't a real solution, etc, while we invent the future. This internet thing will never take off, you need a box that screeches, connected to your phone all day long! I can't even get faxes while im 'online'. Pointless.
The early internet was shitty. No one is disputing that. Blockchain is also shitty, but the community doesn't know how to fix the problem.
Re: Systems built on trust, norms, and institutions function better than blockchain
#10No coiners. Its fine, we will listen to them protest for years and years, telling us it cant work, it isn't a real solution, etc, while we invent the future. This internet thing will never take off, you need a box that screeches, connected to your phone all day long! I can't even get faxes while im 'online'. Pointless.
Your attempt to equivocate the internet (and its impact) and blockchain is laughable.