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From the start it seems the most prolific real applications of bitcoin have been on the margins of law and order. Sometimes this can be good -- when your govern
by gnramires 6y ago
From the start it seems the most prolific real applications of bitcoin have been on the margins of law and order. Sometimes this can be good -- when your government is oppressive and there is really no better way of transacting and storing value; anonymous writers or activists needing a source of income; etc.. But for the most part, it has no use in a functional society.
From the start the most frequent real world use cases were buying drugs and illegal services online (silkroad), and eventually other cases like ransomware (cryptolocker, wannacry), and a few other marginalized cases.
So in my view the mainstream adoption and glorification of Bitcoin is a tragedy, that I do think Satoshi himself (or Hal Finney) would eventually disagree with. The result of it is a colossal amount of wasted energy that could be prevented with traditional technologies (banks, public records, government databases), or more efficient alternatives (proof of stake, other forms of consensus) and hopefully more transparent as well.