A lot of anti-crypto talk in here. Are any of you familiar with proof of stake? Cardano and Ethereum for example utilize this. Much better than proof of work (mining) in numerous ways. Also, yes the ruling class is starting to get involved (after first ignoring it, ridiculing it, attacking it), but that doesn't make the decentralized nature of it any less groundbreaking. Will it be used for daily currency? No, but blockchain technology can be used in a lot of great ways. Like someone else said, in a socialist society it'd be great; in our capitalist society, maybe not so much--they'll commandeer it as much as possible, but we can hope for leaving capitalism behind while still embracing blockchain tech.
Honestly I think blockchain as a technology is way overhyped, and this is coming from someone currently working in one of them hip trendy blockchain startups.
It's fundamental promise is that the decentralization is going to increase trust between people and institutions and usher in more democracy but honestly I really don't see that happening. People trust people and institutions based on previous dealings with them, not because the blockchain said they signed their transactions with their private keys. People don't really give a shit whether some transaction settles in a classic CRUD database or on a fancy blockchain.
It's a cool idea for sure but honestly I don't see it being that useful in the long run.
Yeah just look at how many people do all their crypto trading over a centralized exchange. The math behind consensus systems like bitcoin is fun, but using them has practical concerns for many people.
I see what you're saying, there's a lot of responsibility put on the individual person that many people simply don't want to deal with, but in developing countries, where everyone has a cell phone but not really a place to bank, I could see it helping a lot.
Proof of stake still has the issue wealth begetting more wealth because of how putting down the stake to be a validator works. It does use a lot less power than bitcoin though I'm not sure how it compares to all the bank transactions used now.
Yes, but to motivate this people need to be made aware of how totally shit the thing is currently. Most people who come into contact with bad blockchain tech are not aware of the sheer shittyness.
To do this, we must shit on it from a great height.
A lot of anti-crypto talk in here. Are any of you familiar with proof of stake? Cardano and Ethereum for example utilize this. Much better than proof of work (mining) in numerous ways. Also, yes the ruling class is starting to get involved (after first ignoring it, ridiculing it, attacking it), but that doesn't make the decentralized nature of it any less groundbreaking. Will it be used for daily currency? No, but blockchain technology can be used in a lot of great ways. Like someone else said, in a socialist society it'd be great; in our capitalist society, maybe not so much--they'll commandeer it as much as possible, but we can hope for leaving capitalism behind while still embracing blockchain tech.
Honestly I think blockchain as a technology is way overhyped, and this is coming from someone currently working in one of them hip trendy blockchain startups.
It's fundamental promise is that the decentralization is going to increase trust between people and institutions and usher in more democracy but honestly I really don't see that happening. People trust people and institutions based on previous dealings with them, not because the blockchain said they signed their transactions with their private keys. People don't really give a shit whether some transaction settles in a classic CRUD database or on a fancy blockchain.
It's a cool idea for sure but honestly I don't see it being that useful in the long run.
Yeah just look at how many people do all their crypto trading over a centralized exchange. The math behind consensus systems like bitcoin is fun, but using them has practical concerns for many people.
good thing is faster and cheaper international transactions for some of the cryptos, that's pretty useful
I see what you're saying, there's a lot of responsibility put on the individual person that many people simply don't want to deal with, but in developing countries, where everyone has a cell phone but not really a place to bank, I could see it helping a lot.
...also, howd you get into such a startup?
I'm a software developer and these startups are a dime a dozen nowadays.
Proof of stake still has the issue wealth begetting more wealth because of how putting down the stake to be a validator works. It does use a lot less power than bitcoin though I'm not sure how it compares to all the bank transactions used now.
fair point
Can people understand the concept that we can make things that are shit, and turn them into not shit?
It's called innovation.
Yes, but to motivate this people need to be made aware of how totally shit the thing is currently. Most people who come into contact with bad blockchain tech are not aware of the sheer shittyness. To do this, we must shit on it from a great height.