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Thanks. I actually don't think blockchains are all that interesting a technology, but the hysterical mania around them is interesting from an economic and psych
by Moodles 9y ago
Thanks. I actually don't think blockchains are all that interesting a technology, but the hysterical mania around them is interesting from an economic and psychological perspective. When will the bubble burst? I'm serious that I would actually consider working in this field for awhile to understand exactly how insane it is.
You're absolutely right that some people are honest-but-confused. In fact, I think particularly with large firms, they're all just shit scared about this newfangled blockchain thing and they all know their competitors are investigating it so they desperately want to get in on it before they're destroyed by it. Unfortunately, I think their manic pivot towards blockchain is a very bad move long-term. It would actually take more bravery on their part not to waste resources investigating it.
And again, you are right. It's hilarious to watch them reinvent the wheel. Often, the penny drops that they don't want to really have a bitcoin-like blockchain, so they accidentally reinvent either a Wikipedia or a Github. Github in particular you could (and they do) argue is a chain of blocks of data, so a blockchain. It's like cutting off the hump of a camel and then calling it a next generation horse: it kinda works, but it's not originally designed for that, so why not just use a horse?