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What Problem Blockchains Solve

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Re: What Problem Blockchains Solve

#41

Post by 0x0nyandesu »

lmm wrote: post #30
mekster wrote: post #29

Earlier quoted context omitted.

I'm amazed at the end of 2021, I still get to see these responses about blockchain on hacker news. Somehow Reddit looks smarter when it comes to blockchain topics.

I'm amazed that the whole thing has somehow kept going despite the same lack of legitimate use cases that it's had from the start.

It's amazing that I can transfer wealth across borders with zero bank involvement using this technology and I still have to see people like you claim the sky isn't blue. Like that's nice and all but you sound like sour grapes.

Re: What Problem Blockchains Solve

#42

Post by kkjjkgjjgg »

neiman wrote: post #35

The comments here show, again, that this is maybe the most charged topic in hackernews. Why is this topic so charged? Is it because the environmental damage (but then PoS should change it)? or because there's money involved (but then ENS+IPFS are poor, so should be good)? Or is it just because it's complex and takes a lot of effort to understand?

Could be envy of people who saw other people get rich.

Re: What Problem Blockchains Solve

#43

Post by arcticbull »

0x0nyandesu wrote: post #41
lmm wrote: post #30

Earlier quoted context omitted.

I'm amazed that the whole thing has somehow kept going despite the same lack of legitimate use cases that it's had from the start.

It's amazing that I can transfer wealth across borders with zero bank involvement using this technology and I still have to see people like you claim the sky isn't blue. Like that's nice and all but you sound like sour grapes.

Right, that's called regulatory arbitrage. It's not a [edit](unique) use case, it's basically crime, give or take. You're just skipping the AML and KYC checks that you'd ordinarily be required to take. Believe it or not sending money takes a few milliseconds in a classical system, except for, you know, regulatory and compliance checks that coiners pretend aren't actually needed.

The use cases are: regulatory arbitrage, crime and grift. That's it and that's all folks. Nothing more. Everything else is better solved by classical means.

The golden rule of blockchain is: if you think blockchain solves any given problem better than a classical solution you either don't know enough about the problem, or you don't know enough about the blockchain.

> Like that's nice and all but you sound like sour grapes.

[edit] As always, it's important to remind crypto folks that outside of the cult, ad hominem attacks are not suitable replacements for fact.

Re: What Problem Blockchains Solve

#44

Post by HatchedLake721 »

wellthisisgreat wrote: post #40
mekster wrote: post #29

Earlier quoted context omitted.

I'm amazed at the end of 2021, I still get to see these responses about blockchain on hacker news. Somehow Reddit looks smarter when it comes to blockchain topics.

What are the uses cases of blockchain that have been deployed outside of financial schemes, where the blockchain solves a problem in a unique way that could not have been addressed with non-blockchain? Sure there were probably blockchain projects that got traction and use blockchain, but the only reason it’s blockchain was that it’s easier to get funding for that. Genuinely curious.

Look into smart contracts

Re: What Problem Blockchains Solve

#45

Post by austhrow743 »

arcticbull wrote: post #43
0x0nyandesu wrote: post #41

Earlier quoted context omitted.

It's amazing that I can transfer wealth across borders with zero bank involvement using this technology and I still have to see people like you claim the sky isn't blue. Like that's nice and all but you sound like sour grapes.

Right, that's called regulatory arbitrage. It's not a [edit](unique) use case, it's basically crime, give or take. You're just skipping the AML and KYC checks that you'd ordinarily be required to take. Believe it or not sending money takes a few milliseconds in a classical system, except for, you know, regulatory and compliance checks that coiners pretend aren't actually needed. The use cases are: regulatory arbitrag…

Committing crimes is absolutely a use case.

Re: What Problem Blockchains Solve

#46

Post by 0x0nyandesu »

arcticbull wrote: post #43
0x0nyandesu wrote: post #41

Earlier quoted context omitted.

It's amazing that I can transfer wealth across borders with zero bank involvement using this technology and I still have to see people like you claim the sky isn't blue. Like that's nice and all but you sound like sour grapes.

Right, that's called regulatory arbitrage. It's not a [edit](unique) use case, it's basically crime, give or take. You're just skipping the AML and KYC checks that you'd ordinarily be required to take. Believe it or not sending money takes a few milliseconds in a classical system, except for, you know, regulatory and compliance checks that coiners pretend aren't actually needed. The use cases are: regulatory arbitrag…

I always tell people of how my mother was smuggling Soviet rubles stitched into her coat when she flew to NYC to immigrate to America and in the real world people are aghast at the unjust laws of the USSR while on the internet everyone is like "but the law".

Fuck the law. Law != Justice. Use some critical thinking skills for once.

You earned your wealth. It's not the government's.

Re: What Problem Blockchains Solve

#47

Post by arcticbull »

HatchedLake721 wrote: post #44
wellthisisgreat wrote: post #40

Earlier quoted context omitted.

What are the uses cases of blockchain that have been deployed outside of financial schemes, where the blockchain solves a problem in a unique way that could not have been addressed with non-blockchain? Sure there were probably blockchain projects that got traction and use blockchain, but the only reason it’s blockchain was that it’s easier to get funding for that. Genuinely curious.

Look into smart contracts

That's a financial scheme.

Re: What Problem Blockchains Solve

#48

Post by dmitriid »

HatchedLake721 wrote: post #44
wellthisisgreat wrote: post #40

Earlier quoted context omitted.

What are the uses cases of blockchain that have been deployed outside of financial schemes, where the blockchain solves a problem in a unique way that could not have been addressed with non-blockchain? Sure there were probably blockchain projects that got traction and use blockchain, but the only reason it’s blockchain was that it’s easier to get funding for that. Genuinely curious.

Look into smart contracts

1. They don't work outside blockchain

2. You've replaced a natural language that people understand with a program in an esoteric programming language

How is this a unique solution etc.?

Re: What Problem Blockchains Solve

#49

Post by dmitriid »

wtsnz wrote: post #24

They also allow for micro transactions in a way we’ve not been able to do so far. You can use the original Bitcoin protocol to stream (and pay) for each packet of data. We can now make a pay-to-use netflix, something we haven’t done yet. https://xiaohuiliu.medium.com/netflix-over-bitcoin-payment-c...

> They also allow for micro transactions in a way we’ve not been able to do so far.

Yes. Extremely slow, inefficient and expensive. We really haven't been able to do micro transactions this way before.

Re: What Problem Blockchains Solve

#50

Post by dmitriid »

Karunamon wrote: post #26
dragontamer wrote: post #4

Earlier quoted context omitted.

So if I made an NFT of the Constitution, does that make me the owner of the Constitution?

Provenance is a thing, so no. You're just some rando and nobody would care about your NFT. The same way you can buy or even make replicas of nearly any artwork out there. The one blessed by the creator has value that the illegitimate copies do not.

> You're just some rando and nobody would care about your NFT.

Says (s)he as multiple artists see their artworks stolen and sold on OpenSea.

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