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I don't mean to sound insulting or naive but maybe I am doing so by accident. Let me try in another way, what is the motivation for hobbyists and companies like

I don't mean to sound insulting or naive but maybe I am doing so by accident. Let me try in another way, what is the motivation for hobbyists and companies like Fidelity to buy mining hardware to secure a public blockchain?

aaron-lebo 9y ago
I don't understand the nature of your question, but I'd say: to make money. That is the primary overriding incentive in this discussion. People will lie, cheat, and steal for a dollar, they'll definitely do it for 1 million.
- decentralised 9y ago
  Ok, so people make money by running mining hardware that keeps a blockchain network decentralised and trustworthy. The value of the token increases with the number of people who participate in the network (Metcalfe's ...) and due to speculation on the underlying value of having trust and consensus without a centralised authority. The problem with centralised authority is that, despite the very best intentions of those involved, the centralisation of power reduces the overall ability of a market to operate freely, and the blockchain is the product of Anarcho-Capitalists who believe markets should be free from any central power.
  - bildung 9y ago
    I think this is clear to pretty much anyone interested in this. The technicalities are not the point. Question is, what is the actual problem to solve? That doesn't get solved by postgres? Not a potential one, but a real, existing one.
    - decentralised 9y ago
      I don't have detailed knowledge of the project but from memory, the proposition was to leapfrog the govTech infrastructure needed for land registries. Traditional infrastructure can be expensive to maintain and in many regions the paperwork is still just that; paper. A move from paper copies to a digital format would already be a good enough solution, which I think is your point, but here there is an opportunistic use of a single tool to avoid the costs of a couple of servers with remote backups times the number of locations needed for full coverage. edit: I was responding to the wrong thread but I'll leave it anyway. This refers to the use of blockchain for land registry in Ghana.

aaron-lebo 9y ago

I don't understand the nature of your question, but I'd say: to make money. That is the primary overriding incentive in this discussion. People will lie, cheat, and steal for a dollar, they'll definitely do it for 1 million.

decentralised 9y ago
Ok, so people make money by running mining hardware that keeps a blockchain network decentralised and trustworthy. The value of the token increases with the number of people who participate in the network (Metcalfe's ...) and due to speculation on the underlying value of having trust and consensus without a centralised authority. The problem with centralised authority is that, despite the very best intentions of those involved, the centralisation of power reduces the overall ability of a market to operate freely, and the blockchain is the product of Anarcho-Capitalists who believe markets should be free from any central power.
- bildung 9y ago
  I think this is clear to pretty much anyone interested in this. The technicalities are not the point. Question is, what is the actual problem to solve? That doesn't get solved by postgres? Not a potential one, but a real, existing one.
  - decentralised 9y ago
    I don't have detailed knowledge of the project but from memory, the proposition was to leapfrog the govTech infrastructure needed for land registries. Traditional infrastructure can be expensive to maintain and in many regions the paperwork is still just that; paper. A move from paper copies to a digital format would already be a good enough solution, which I think is your point, but here there is an opportunistic use of a single tool to avoid the costs of a couple of servers with remote backups times the number of locations needed for full coverage. edit: I was responding to the wrong thread but I'll leave it anyway. This refers to the use of blockchain for land registry in Ghana.