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I feel the same way. Storing everything forever perpetually on the blockchain just doesn’t seem like a feasible or good idea to me, and the wasted computation
by FridgeSeal 6y ago
I feel the same way.
Storing everything forever perpetually on the blockchain just doesn’t seem like a feasible or good idea to me, and the wasted computation to do anything is annoying. The whole space seems filled with people who hold similar views about economics: all inflation is bad; all government and financial intervention in the economy is bad; all our money problems would be solved if people could just trade with each other, etc.
Also, pet peeve-many times I’ve heard blockchain enthusiasts talk about this idea that you can just put your data on the blockchain and pay a reasonable free and people will keep it there forever, you can move all your business computation to the blockchain by paying people who perform the computation. Nevermind how much of an outrageously poor idea that is: why on earth would I store my data on there, encrypted or otherwise? Why would I want random people carrying out business critical computation for me? Some of the chains are already pretty huge, can you imagine how big they’ll balloon out to within 6 months if businesses started lumping all their stuff on there, let alone 10 years. Storage being cheap is the “throw more hardware at it to make it go faster” off blockchains and is in no way a good fix, not is it in any way preferable to running your own machines.
- iSnow 6y ago> why on earth would I store my data on there, encrypted or otherwise? Why would I want random people carrying out business critical computation for me? Well, I am working in big old industry outside the USA and we just bought a data ingestion solution from... Palantir! The NSA company which is basically a spy arm of the US government. If it saves a buck, companies will do way dumber things than move to blockchain in an instant. Also, storing data on the BTC or ETH chains isn't economically feasible - there are chains especially for that and usually, you just store the SHA-256 hash of your data on chain to prove authenticity while storing the data off-chain.
- boring_twenties 6y ago> whole space seems filled with people who hold similar views about economics: all inflation is bad This can't be true since there are major cryptocurrencies that are inflationary, for instance Monero.