3 ms·
Yes, but then things evolved into more sophisticated and less cumbersome methods of ensuring authenticity.
by airstrike 6y ago
Yes, but then things evolved into more sophisticated and less cumbersome methods of ensuring authenticity.
- Cthulhu_ 6y agoSophistication and uncumbersomeness (?) are not necessarily good things.
- wisty 6y agoI bet a lot of the advocates of these block chains would claim that the lack of sophistication and cumbersomeness was an advantage. You'd say things like "if it ever caught on in a big way, what's to stop banks or even governments issuing block-denominated securities, causing inflation? Would people put blocks in banks for safe-keeping, where they'd just end up recreating the fractional reserve system you claim these blocks avoid?". And advocates would say "no, that won't happen, people would like to keep a hold of their own blocks, no-one would want an IOU from a bank if they could physically hold their very own block instead".