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Blockchains solve one piece of a puzzle I can trust the transaction to go through but I can't trust the ecosystem that it operates in -- I'll leave the definiti
by myaso 9y ago
Blockchains solve one piece of a puzzle I can trust the transaction to go through but I can't trust the ecosystem that it operates in -- I'll leave the definition of trust purposely ambiguous. Despite all their flaws the systems already in place are designed with the ideal to prevent anti-social malfeasance. No sane business will adopt a blockchain for a problem that already can be solved using cheaper methods -- you don't need to embed certain controls in technology, you can simply catch stuff using manual human powered processes at a much lower cost which are much more flexible than a program. Cryptocurrencies make it easy to pay any address I know exists and they also let someone purchase illegal goods easily.
- gomox 9y agoI'm not sure I follow your point here. Are you adding to what I said or do you disagree in some way?
- myaso 9y agoBoth, and yes I quite disagree with you in some fundamental way. They have a specific niche while being severely over hyped.
- gomox 9y agoI agree that blockchains are overhyped. But I don't think the value of P2P uncensorable money can be overstated in this day and age.
- myaso 9y agoAgain I agree ... it is nice to know the option exists but the value of this option isn't static at every point in time or every context -- the mere existence of it creates a certain level of bullshit that needs to be put up with.
- deleted 9y ago[deleted]