I've seen a lot of really smart people figure out that the blockchain is fundamentally bullshit, and then walk away underestimating the viability of well crafted bullshit
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What about store of value proposition? So far it tracks similar path as gold did in the past. What about trust decentralization? It can also solve the tragedy of the commons. It will be also more powerful when society memes will internalize it as shared trusted database.
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Most "blockchain" is bullshit indeed. For most use cases (social media, "supply chain" tracking and logging, private data sharing) you don't need expensive consensus. The "centralized" "internet authority" can be circumvented with satellites and mesh networks (see
@gotenna).
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Also paying cyber ransoms and buying drugs
Thanks. Twitter will use this to make your timeline better. UndoUndo
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If they need to shut down the entire internet to stop btc they are quite limited And there were many times I wished I could just transfer large sums of money and traditional banking made it very hard. There's also a lot of value in irreversibility for some use cases
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Consider the Greek who couldn't use their currency because gov decided to freeze bank accounts. They still didn't/wouldn't completely shut down the internet
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