Earlier quoted context omitted.
" Blockchain is probably the most useless technology ever invented " Actually AI may be more like blockchain then you give it credit for. Blockchain feels useless to you because you either don't care about or value the use cases it's good for. For those that do, it opens a whole new world they eagerly look forward to. As a coder, it's magical to describe a world, and then to see AI build it. As a copyeditor it may be…
Blockchain is essentially useless. You need legal systems to enforce trust in societies, not code. Otherwise you'll end up with endless $10 wrench attacks until we all agree to let someone else hold our personal wealth for us in a secure, easy-to-access place. We might call it a bank. The end state of crypto is always just a nightmarish dystopia. Wealth isn't created by hoarding digital currency, it's created by prod…
By that logic, banks don’t work either, since people get kidnapped and forced to drain accounts. The difference is that with crypto, you can design custody systems (multi-sig, social recovery, hardware wallets, decentralized custody) that make such attacks far less effective than just targeting a centralized bank vault or insider.
As for the “end state” being dystopian, history shows centralized finance has already produced dystopias: hyperinflations, banking crises, mass surveillance, de-banking of political opponents, and global inequality enabled by monetary monopolies. Crypto doesn’t claim to magically create productivity—it creates an alternative infrastructure where value can be exchanged without gatekeepers. Productivity and crypto aren’t at odds: blockchains enable new forms of coordination, ownership, and global markets that can expand productive potential.
People now have the option of choosing between institutional trust and cryptographic trust—or even blending them. Dismissing crypto as doomed to dystopia ignores why it exists: because our current systems already fail millions every day.