I don’t understand why blockchain is treated as some holy grail technology? Do most developers support this blockchain everywhere idea? I am start to feel like a conservative because I really don’t like cryptocurrency in the way people are using it currently at least.

I think we could find some uses of blockchain, and cryptocurrency that are much more useful then just having a bunch of get rich schemes.

  • OutrageousHairdo [he/him]
    ·
    3 years ago

    Cryptocurrency is just an inherently useless idea. You can't have something decentralized and secure that doesn't use a boatload of energy or computing power. If you didn't have those extreme costs, there'd be very little stopping a bad actor from just flooding your currency network with false information (since financial transactions are made through a consensus of network participants). Like I hate to be that guy, but the only way for digital currency to make sense is if it's based on centralized systems.

      • OutrageousHairdo [he/him]
        ·
        3 years ago

        I'm not saying crypto can't be more efficient than it is now, but even stuff like Solana is still way more power than you would be using if you just transferred money over fucking Wells Fargo or whatever. Centralized systems are just inherently less resource consuming. Decentralization doesn't really bring enough benefits to justify the price. Its use case is either as a way to avoid government regulation, be it to buy illegal products and services, get around taxation, avoid paperwork, or w/e or just as a boneheaded investment. I can't see anyone using it to buy and sell stuff the way they use a credit card.