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I mean I graduated top 5% of my class and make early 6 figures. My friend who graduated bottom 5% is now a crypto millionaire living in Dubai. Meanwhile I can write complex Scala code but I have no idea what blockchain , NFT , crypto is all about apart from the fact that it made my friend rich and made early adopters rich . How , why , when I don’t know . What’s the gain, purpose of it - I don’t know . Then again I d…
You're wrong. New flavors of crypto, blockchain apps, etc are almost entirely scams. But Bitcoin itself is an incredible technology, and I don't think its beautiful design gets appreciated enough in the midst of all the speculative investments, derivative currencies, and marketing.
Bitcoin is a hack to get control back from government. It's a technical solution to a political problem.
I wouldn't use it in production. I'd rather have a network of private banks (without governments and central banks printing money as much as they like - and bailing out their friends) and a currency based on the value of a basket of everyday items (wheat, wood, iron).
I find it strange that people keep promoting that YouTube documentary. Ignoring tone issues, there is a lot of cherry picking and other logical fallacies. For example, he talks about how terrible Tether is and then completely ignores USDC. He also claims that none of the popular blockchains can scale, but Solana is frequently in the top 5 most popular cryptocurrencies. It seems to me that people that do an hour of re…
True enough, but since I have yet to see a use for the technology that isn't pretty much just a means to scam people, I'm totally fine calling the entire space a giant scam.
It's not just technologists anymore, there is a whole bunch of powerful investors, marketing agencies, media companies all pushing their agenda via Web 3.0 guise. Not to mention 'get rich quick' scammers taking full advantage of this. I do believe there is value in 'Decentralation' and some other blockchain ideas but all implementations of it thus far as proven not very effective.
The blockchain concept is a very bad fit for almost every kind of decentralization you'd want, because it's basically a linked list with a central clock[1] limiting the number of blocks you can happen (and this is necessary to allow the consensus to converge).
[1] even though it's implemented in a distributed manner, there's still one and only one clock per chain and everyone must take its turn to use of of the precious clock slots.
I mean I graduated top 5% of my class and make early 6 figures. My friend who graduated bottom 5% is now a crypto millionaire living in Dubai. Meanwhile I can write complex Scala code but I have no idea what blockchain , NFT , crypto is all about apart from the fact that it made my friend rich and made early adopters rich . How , why , when I don’t know . What’s the gain, purpose of it - I don’t know . Then again I d…
I find it strange that people keep promoting that YouTube documentary. Ignoring tone issues, there is a lot of cherry picking and other logical fallacies. For example, he talks about how terrible Tether is and then completely ignores USDC. He also claims that none of the popular blockchains can scale, but Solana is frequently in the top 5 most popular cryptocurrencies. It seems to me that people that do an hour of re…
> Many are using the technology to facilitate scams and overpromising, but that doesn't make the technology fundamentally useless or bad. True enough, but since I have yet to see a use for the technology that isn't pretty much just a means to scam people, I'm totally fine calling the entire space a giant scam.
It should be building awareness towards what cryptocurrencies and technologies based on the blockchain actually are and why they can't at all achieve what people invested in crypto promise. For the people that are vulnerable, politicians and organizations, in short: people being manipulated by outright false promises and deliberately vague "arguments" (like there always being that one coin nobody uses which of course solves all the problems of the topic at hand).
Crypto doesn't offer much in terms of decentralization, but one thing it does decentralize incredibly well is advertisement and evangelism because every single cryptocurrency holder has a true financial incentive to spread overhyped and false information around anything remotely connected to blockchain technologies in order to drive up the price.
I really don't follow. Can anyone enlighten me? I used to go with the casual notion 'tech isn't evil' / 'even a chair can be used as a weapon'. What have I missed here for blockchain?