5 ms·
This is like saying we shouldn't build or invest in computers anymore because they cost so much and take up whole rooms full of space. Bitcoin is version 0.1 o
by waheoo 6y ago
This is like saying we shouldn't build or invest in computers anymore because they cost so much and take up whole rooms full of space.
Bitcoin is version 0.1 of a new way to record and share a common ledger. The cost and energy requirements are simple tradeoffs that are completely configurable to the applications needs.
Go look at all the alt coins out there, blockchain tech does not require the same levels of decentralization as Bitcoin, many work off more centrally controlled systems, not all require huge amounts of energy to mine blocks, and many are extremely aware of the need to be an environmentally friendly solution.
Like I get it's a very valid criticism to make about Bitcoin.
But it's such a contrarian for the sake of being contrarian thing to say and completely ignores ten years of alt coin and defi evolution.
Feel free to keep bag holding those "federal" reserve notes, they'll pay off one day I'm sure.
- bawolff 6y agoNot really, most of the centralized ones could just be replaced with a mysql server and have the same properties. Notable exception being some of the proof-of-stake schemes, but its not like that's a scaling tradeoff but a totally different approach.
- waheoo 6y agoAnd 64k memory should be enough for everybody but banks can't share a single MySQL database. They can try, but they would need an impartial intermediary. As someone that got shafted by the gme shutdown, I would have loved to be trading over a block chain unimpeded by "regulatory oversight".