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A lot of the benefits of crypto really come into play as more systems are integrated into the blockchain. If the whole series of payments and services are on th

by dntrkv 6y ago

A lot of the benefits of crypto really come into play as more systems are integrated into the blockchain. If the whole series of payments and services are on the blockchain, you could build a system that is reasonably secured against these types of situations.

castlecrasher2 6y ago
>If the whole series of payments and services are on the blockchain, you could build a system that is reasonably secured against these types of situations. I'm not intending to be snarky here, but statements like these remind me of the phrase "the devil you know is better than the devil you don't." I have yet to see blockchain provide any tangible value, and in my opinion any future possibilities proposed like from this comment chain will almost certainly be plagued by similar (if not worse) issues.
- dntrkv 6y ago
  >I have yet to see blockchain provide any tangible value What do you define as tangible value? I'm not a crypto bro, but I can see the potential in blockchain, specifically the building blocks nature of smart contracts. A global, decentralized, API that runs on its own "currency" and anyone can interact and build upon, that sounds pretty valuable to me.
  - castlecrasher2 6y ago
    I've put a lot of thought into it and have come to the conclusion that I and I'd guess many others would prefer a system that can be adjusted as needed by people and the legal system. For context, I don't have a very high opinion of people or the legal system, either.
pyrale 6y ago
So the true meaning of decentralized is "centralized elsewhere" ?
- dntrkv 6y ago
  How do you mean? The blockchain itself is decentralized. So if all the systems operate on the blockchain, they are decentralized.
  - pyrale 6y ago
    What you're describing is a system centralized around a technology and a few brokers. As network effects kick in, it becomes harder to use alternative systems. The blockchain itself may be decentralized, but there is no guarantee that systems built upon it would be decentralized.

by dntrkv 6y ago

castlecrasher2 6y ago

>If the whole series of payments and services are on the blockchain, you could build a system that is reasonably secured against these types of situations. I'm not intending to be snarky here, but statements like these remind me of the phrase "the devil you know is better than the devil you don't." I have yet to see blockchain provide any tangible value, and in my opinion any future possibilities proposed like from this comment chain will almost certainly be plagued by similar (if not worse) issues.

dntrkv 6y ago
>I have yet to see blockchain provide any tangible value What do you define as tangible value? I'm not a crypto bro, but I can see the potential in blockchain, specifically the building blocks nature of smart contracts. A global, decentralized, API that runs on its own "currency" and anyone can interact and build upon, that sounds pretty valuable to me.
- castlecrasher2 6y ago
  I've put a lot of thought into it and have come to the conclusion that I and I'd guess many others would prefer a system that can be adjusted as needed by people and the legal system. For context, I don't have a very high opinion of people or the legal system, either.

pyrale 6y ago

So the true meaning of decentralized is "centralized elsewhere" ?

dntrkv 6y ago
How do you mean? The blockchain itself is decentralized. So if all the systems operate on the blockchain, they are decentralized.
- pyrale 6y ago
  What you're describing is a system centralized around a technology and a few brokers. As network effects kick in, it becomes harder to use alternative systems. The blockchain itself may be decentralized, but there is no guarantee that systems built upon it would be decentralized.