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> But, also, there probably are ways for the blockchain to help with some quality-of-life improvements for various online communities. There isn't. It is remai

> But, also, there probably are ways for the blockchain to help with some quality-of-life improvements for various online communities. There isn't. It is remains the case that every problem solved with a blockchain can be better solved without a blockchain. (Except for crimes.)

yjftsjthsd-h 5y ago
AFAIK, the alternatives are usually centralized financial institutions - PayPal, Visa, etc. - that kinda suck (Visa blocks legal transactions over arbitrary internal rules, PayPal freezes accounts and keeps the money). I'm not 100% sold on cryptocurrency as the solution, but I'm not sure the incumbents are better.
- throw0101a 5y ago
  NIST published a good paper describing blockchain, with a flowchart (Figure 6) to help people determine if it's a good fit for their use case: * https://nvlpubs.nist.gov/nistpubs/ir/2018/nist.ir.8202.pdf#page=53 https://nvlpubs.nist.gov/nistpubs/ir/2018/nist.ir.8202.pdf#p... It asks a series of questions, and if you answer "Yes" to all of them then blockchain should be examined: * Do you need a shared, consistent data store? (No: Consider Email / Spreadsheets.) * Does more than one entity need to contribute data? (No: Consider database.) * Data records, once written, are never updated or deleted? (No: Consider database.) * Sensitive identifiers WILL NOT be written to the data store? (No: Considered encrypted database.) * Are the entities with write access having a hard time deciding who should be in control of the data store? (No: Consider managed database.) * Do you want a tamperproof log of all writes to the data store? (No: Consider database.) All Yes: "You may have a useful Blockchain use case."
- tata71 5y ago
  > I'm not 100% sold on cryptocurrency as the solution, but I'm not sure the incumbents are better. Not exactly a stretch, as far as an investment thesis is concerned.
- user-the-name 5y ago
  The incumbents, with all their issues, are miles better. Cryptocurrency doesn't work, and nearly every business in the space is a scam at some level.
mrsuprawsm 5y ago
Crimes are also not particularly well suited to the blockchain, as the whole "immutable permanent record" thing has the side-effect of leaving a trail of transactions, meaning law enforcement can follow said trail. (Obviously things like bitcoin tumblers exist, but again, money laundering can also be solved without a blockchain)
- user-the-name 5y ago
  One thing that cryptocurrencies uniquely enable is ransomware. It is not really possible to pull off on a large scale without cryptocurrencies. People tried, but it never took off until bitcoin became available.
nathias 5y ago
so why are there so many people using it? does that make us criminals?
- yjftsjthsd-h 5y ago
  I think the implication was that you're misled or riding hype more than reality, more than criminal. (I say this only to clarify; I endorse neither side)
- user-the-name 5y ago
  No, you may very well just be using the wrong tool for the job.
otabdeveloper4 5y ago
Bitcoin solves the problem of getting rich quick without access to a bank.

yjftsjthsd-h 5y ago

AFAIK, the alternatives are usually centralized financial institutions - PayPal, Visa, etc. - that kinda suck (Visa blocks legal transactions over arbitrary internal rules, PayPal freezes accounts and keeps the money). I'm not 100% sold on cryptocurrency as the solution, but I'm not sure the incumbents are better.

throw0101a 5y ago
NIST published a good paper describing blockchain, with a flowchart (Figure 6) to help people determine if it's a good fit for their use case: * https://nvlpubs.nist.gov/nistpubs/ir/2018/nist.ir.8202.pdf#page=53 https://nvlpubs.nist.gov/nistpubs/ir/2018/nist.ir.8202.pdf#p... It asks a series of questions, and if you answer "Yes" to all of them then blockchain should be examined: * Do you need a shared, consistent data store? (No: Consider Email / Spreadsheets.) * Does more than one entity need to contribute data? (No: Consider database.) * Data records, once written, are never updated or deleted? (No: Consider database.) * Sensitive identifiers WILL NOT be written to the data store? (No: Considered encrypted database.) * Are the entities with write access having a hard time deciding who should be in control of the data store? (No: Consider managed database.) * Do you want a tamperproof log of all writes to the data store? (No: Consider database.) All Yes: "You may have a useful Blockchain use case."
tata71 5y ago
> I'm not 100% sold on cryptocurrency as the solution, but I'm not sure the incumbents are better. Not exactly a stretch, as far as an investment thesis is concerned.
user-the-name 5y ago
The incumbents, with all their issues, are miles better. Cryptocurrency doesn't work, and nearly every business in the space is a scam at some level.

mrsuprawsm 5y ago

Crimes are also not particularly well suited to the blockchain, as the whole "immutable permanent record" thing has the side-effect of leaving a trail of transactions, meaning law enforcement can follow said trail. (Obviously things like bitcoin tumblers exist, but again, money laundering can also be solved without a blockchain)

user-the-name 5y ago
One thing that cryptocurrencies uniquely enable is ransomware. It is not really possible to pull off on a large scale without cryptocurrencies. People tried, but it never took off until bitcoin became available.

nathias 5y ago

so why are there so many people using it? does that make us criminals?

yjftsjthsd-h 5y ago
I think the implication was that you're misled or riding hype more than reality, more than criminal. (I say this only to clarify; I endorse neither side)
user-the-name 5y ago
No, you may very well just be using the wrong tool for the job.

otabdeveloper4 5y ago

Bitcoin solves the problem of getting rich quick without access to a bank.