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> Bitcoin's only real-world use case is illicit goods. You have a lot to learn; I recommend starting here: https://medium.com/@lopp/the-multifaceted-nature-of-

> Bitcoin's only real-world use case is illicit goods. You have a lot to learn; I recommend starting here: https://medium.com/@lopp/the-multifaceted-nature-of-bitcoin-94d79c95b9ef https://medium.com/@lopp/the-multifaceted-nature-of-bitcoin-... A deeper dive here: https://www.youtube.com/watch?v=IgETC2JMUBI https://www.youtube.com/watch?v=IgETC2JMUBI

davidgerard 11y ago
I know all the blogpost ones. To list a few problems: * Bitcoin is not better for any of the consumer uses than existing financial systems, and is significantly worse for most. * the only real-world use that we see happening is illicit goods (and, as noted in imglorp's comment here, the blockchain's utility as prosecution futures makes it not a great idea for that either). * real-world consumers, who are at the powerless end of the financial power relationship, consider regulation a feature - the only people who consider a lack of regulation a feature are cranks and scammers. * pretty much nobody actually wants smart contracts. Dr Strangelove is a movie about an unstoppable smart contract going wrong. Both consumers and businesses want the possibility of regulatory interrupt upon a bad deal. The only people who would want smart contracts are businesses looking to screw over customers with no choice (c.f. mandatory arbitration clauses). Look, assume I know a bit about this stuff and have looked into the brochure version claims in detail. The possibility of a use case isn't sufficient; we've had six years of Bitcoin, and that's been enough time to see most of that blog post list has been tried and failed. You've had six years, it's time to show actual utility. Also, this is a site for communication using words; expecting someone to watch a YouTube video when you could just write words yourself is probably not effective communication.
- statoshi 11y ago
  Your claims are the same that were made regarding "real-world consumers" at the dawn of the Internet. It takes time to build up a network effect and improve ease-of-use for revolutionary new systems. shrugs I spent quite a few hours developing aforementioned blog post and the presentation to my alumni Computer Science department - specifically to save me the time of typing it all out to every individual who wants to learn about it.

davidgerard 11y ago

I know all the blogpost ones. To list a few problems: * Bitcoin is not better for any of the consumer uses than existing financial systems, and is significantly worse for most. * the only real-world use that we see happening is illicit goods (and, as noted in imglorp's comment here, the blockchain's utility as prosecution futures makes it not a great idea for that either). * real-world consumers, who are at the powerless end of the financial power relationship, consider regulation a feature - the only people who consider a lack of regulation a feature are cranks and scammers. * pretty much nobody actually wants smart contracts. Dr Strangelove is a movie about an unstoppable smart contract going wrong. Both consumers and businesses want the possibility of regulatory interrupt upon a bad deal. The only people who would want smart contracts are businesses looking to screw over customers with no choice (c.f. mandatory arbitration clauses). Look, assume I know a bit about this stuff and have looked into the brochure version claims in detail. The possibility of a use case isn't sufficient; we've had six years of Bitcoin, and that's been enough time to see most of that blog post list has been tried and failed. You've had six years, it's time to show actual utility. Also, this is a site for communication using words; expecting someone to watch a YouTube video when you could just write words yourself is probably not effective communication.

statoshi 11y ago
Your claims are the same that were made regarding "real-world consumers" at the dawn of the Internet. It takes time to build up a network effect and improve ease-of-use for revolutionary new systems. shrugs I spent quite a few hours developing aforementioned blog post and the presentation to my alumni Computer Science department - specifically to save me the time of typing it all out to every individual who wants to learn about it.