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> Everyone on here seems to be very bitter and salty about this stuff and I'm not sure why they're not seeing the bigger picture. This is probably the same grou
by anyfoo 8y ago
> Everyone on here seems to be very bitter and salty about this stuff and I'm not sure why they're not seeing the bigger picture. This is probably the same group that would have laughed at predictions that there would be personal computers.
That first sentence is a great way to start an argument. And having been there for the rise of the PC, I do not agree with your analogy. Just like with the Internet analogy that usually comes up, the problem with PCs was more getting one. PCs were very expensive, cryptocurrencies are plenty available to anyone who wants them. There were skeptics with PCs, but still people jumped readily at every use case opportunity that presented itself and constantly came up with new ones. The blockchain is trying to find them for years and years now.
As for the abstraction: Well, yeah, you abstract the whole "cryptocurrency" aspect away to make it work, until you may as well just use the proven, regular banking system. And then to allow for such regular processes as litigation or the simple undoing of human mistakes, you abolish the "immutable ledger" concept entirely.
Am I bitter and salty about it? Given that cryptocurrencies are now consuming more energy than all solar panels combined, singlehandedly erasing the progresses we made there: Yes, definitely.