4 ms·

And maybe you shouldn't lead with a generalization. Not all of them were scams.

wpietri 8y ago
Like perpetual motion machines, some are scams and some are just run by sincere fools. And it's entirely possible that there are some real businesses run by smart people who needed funding and the blockchain bits are just window dressing. So not scams, exactly, but more the kind of marketing fraud that, in the marketing world, barely counts as fraud at all. If you have proof that one of them is a) a real business, b) is likely to succeed, and c) is using a blockchain in some way where it's both necessary to the business and superior to other ways to store and verify data, then please share it. Otherwise you're the one making hazy, unsupported general statements.
- atomical 8y ago
  I'm attacking the part of your argument that it's a scam based on your own limited knowledge. You then respond by asking me to present proof to you as if your own ignorance is somehow compelling.
  - wpietri 8y ago
    Sorry, perhaps I didn't understand. Are you saying Eich's startup meets all three of those criteria? As I said, I'm not saying all of them are scams. Indeed, I specifically mentioned two other possible classes they could fall into. And as I think is clear from my initial comment, I'm open to the possibility that someone will find a use for blockchain that enables some sort of viable business that couldn't be done with other tech. You of course don't owe me any explanations. But you're the one who jumped in with a variety of handwaving contradictions to my comments. So if you want to to be taken seriously, backing you agitation with evidence would be a good step.
- reidjs 8y ago
  The only proven use of blockchain is to transfer value from one person to another over the internet without relying on a central bank account. Doesn’t that validate the tech to some degree?
  - wpietri 8y ago
    Not to me, as that's not an actual user need. Legitimate money transfer needs are things like, "send money to my cousin back home" or "buy a thing". Despite Bitcoin being around for a decade, it has made approximately zero inroads into those markets. I'll grant Bitcoin has some utility for light crime, like buying drugs or evading capital controls. And it's the technology of choice for ransomware and some kinds of electronic fraud. (It's bad for serious crime as it leaves too much of an audit trail.) But I don't think crime is a very good domain for running real businesses, so that doesn't count for me either.

Like perpetual motion machines, some are scams and some are just run by sincere fools. And it's entirely possible that there are some real businesses run by smart people who needed funding and the blockchain bits are just window dressing. So not scams, exactly, but more the kind of marketing fraud that, in the marketing world, barely counts as fraud at all. If you have proof that one of them is a) a real business, b) is likely to succeed, and c) is using a blockchain in some way where it's both necessary to the business and superior to other ways to store and verify data, then please share it. Otherwise you're the one making hazy, unsupported general statements.

atomical 8y ago
I'm attacking the part of your argument that it's a scam based on your own limited knowledge. You then respond by asking me to present proof to you as if your own ignorance is somehow compelling.
- wpietri 8y ago
  Sorry, perhaps I didn't understand. Are you saying Eich's startup meets all three of those criteria? As I said, I'm not saying all of them are scams. Indeed, I specifically mentioned two other possible classes they could fall into. And as I think is clear from my initial comment, I'm open to the possibility that someone will find a use for blockchain that enables some sort of viable business that couldn't be done with other tech. You of course don't owe me any explanations. But you're the one who jumped in with a variety of handwaving contradictions to my comments. So if you want to to be taken seriously, backing you agitation with evidence would be a good step.
reidjs 8y ago
The only proven use of blockchain is to transfer value from one person to another over the internet without relying on a central bank account. Doesn’t that validate the tech to some degree?
- wpietri 8y ago
  Not to me, as that's not an actual user need. Legitimate money transfer needs are things like, "send money to my cousin back home" or "buy a thing". Despite Bitcoin being around for a decade, it has made approximately zero inroads into those markets. I'll grant Bitcoin has some utility for light crime, like buying drugs or evading capital controls. And it's the technology of choice for ransomware and some kinds of electronic fraud. (It's bad for serious crime as it leaves too much of an audit trail.) But I don't think crime is a very good domain for running real businesses, so that doesn't count for me either.