this post was submitted on 02 Feb 2024
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Crypto =/= blockchain.
If you can't see the utility of blockchain with regards to things like actual, verifiable digital ownership, then I don't know what to tell you.
IMO, blockchain technology is good for one use case: illegal transactions.
I think all else can be achieved more efficiently by using a trusted third party write-only database, such as the ones available on AWS, and you’d also have the benefit of being able to go to court to seek relief. Some blockchain markets are basically reinventing banking systems and preexisting financial law - systems that have been built over centuries and have quite a bit of knowledge baked in.
I do like the shift to proof of stake from proof of work, but this tech is silly to me.
YES!!!!!
The only thing you're not getting quite right is what it means to be "illegal" and whether the groups making this decision have anyone's interest in mind except their own.
When doing right is or becomes illegal because our country is run by a fascist, that "illegal" money will save lives.