3 ms·
Etherium 2.0's move to proof of stake will help with the ridiculous energy usage that bitcoin has, but I don't see a blockchain ever being able to handle the tr
by jjcm 6y ago
Etherium 2.0's move to proof of stake will help with the ridiculous energy usage that bitcoin has, but I don't see a blockchain ever being able to handle the traffic of a major card processor like visa. Even with sharding, your latency between shards compounds to the point where the UX is degraded.
What I see value in for a blockchain is store of value (which arguably is basically a pyramid scheme), smart contracts for provable logic-based transactions, niche database uses, and as you brought up: drugs (or more accurately, private/anonymous payments). Bitcoin is really a poor choice for both the smart contracts and niche databases, which leaves it with store of value and drugs. Once law enforcement legislates it to the point where it becomes impractical for drugs, at that point it is just a store of value. It holds no use except to become more valuable the more people buy into it, which is just a pyramid scheme.
- cturner 6y agoThe definition for /pyramid scheme/ is straightforward, and Bitcoin does not match it.