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OP asked about Blockchain, not Cryptocurrencies specifically. It's important to know the difference before shitting on Cryptocurrencies, which as a matter of fa

OP asked about Blockchain, not Cryptocurrencies specifically. It's important to know the difference before shitting on Cryptocurrencies, which as a matter of fact provide a lot of value to many people around the world.

hocuspocus 5y ago
Blockchain technology itself is a great way to extract money from gullible people. I have friends who raised 8 digits from clueless VCs, to build solutions to problems that wouldn't exist without blockchains.
knorker 5y ago
Are there blockchain solutions that are not apparent scams? NFTs are not cryptocurrencies, but I assume the parent comment was also calling them a scam? (well, they didn't use the word scam, but it looks implied) There are also other "solutions" on top of blockchains, but I keep reading about them only from people who have a vested interest in getting more people to take part, in order to increase their own net worth. Which sounds like a pyramid scheme to me. But to kinda contradict myself: Yes, there are blockchain things that are not pyramid schemes or other scams. But they also don't provide any other value. Whether they are scams or not depends on if you think the people pushing it actually believe in what they're saying.
- Naijoko 5y ago
  NFT´s are more or less the same as cryptocurrency. Same stuff under the hood but different name and application ... but more or less exactly the same... otherwise of the name..and how they are sold NFTs are storing links to pictures Coins are storing the state of the ledger. Exatly same technology
  - knorker 5y ago
    Yeah. A lot of them are cryptocurrencies if you squint. NFTs are… well they added the concept of nonfungibility. It's interesting, albeit currently without useful applications. But take "blockchain land registry". The blockchain will be a pointer to a physical house, or piece of land. In that way it's pretty much exactly NFTs, but I would not say they are exactly cryptocurrency. So if cryptocurrency, NFT, and land registry are A B and C, then I would say that B and C "are the same", but A and C "are not", but A&B as you say sure are very similar. Note that I'm not saying blockchain land registry makes any sense what so ever. Because it doesn't. A block chain will never decide who owns land, because courts and government does, backed by the power of the police.
- deleted 5y ago
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hocuspocus 5y ago

Blockchain technology itself is a great way to extract money from gullible people. I have friends who raised 8 digits from clueless VCs, to build solutions to problems that wouldn't exist without blockchains.

knorker 5y ago

Are there blockchain solutions that are not apparent scams? NFTs are not cryptocurrencies, but I assume the parent comment was also calling them a scam? (well, they didn't use the word scam, but it looks implied) There are also other "solutions" on top of blockchains, but I keep reading about them only from people who have a vested interest in getting more people to take part, in order to increase their own net worth. Which sounds like a pyramid scheme to me. But to kinda contradict myself: Yes, there are blockchain things that are not pyramid schemes or other scams. But they also don't provide any other value. Whether they are scams or not depends on if you think the people pushing it actually believe in what they're saying.

Naijoko 5y ago
NFT´s are more or less the same as cryptocurrency. Same stuff under the hood but different name and application ... but more or less exactly the same... otherwise of the name..and how they are sold NFTs are storing links to pictures Coins are storing the state of the ledger. Exatly same technology
- knorker 5y ago
  Yeah. A lot of them are cryptocurrencies if you squint. NFTs are… well they added the concept of nonfungibility. It's interesting, albeit currently without useful applications. But take "blockchain land registry". The blockchain will be a pointer to a physical house, or piece of land. In that way it's pretty much exactly NFTs, but I would not say they are exactly cryptocurrency. So if cryptocurrency, NFT, and land registry are A B and C, then I would say that B and C "are the same", but A and C "are not", but A&B as you say sure are very similar. Note that I'm not saying blockchain land registry makes any sense what so ever. Because it doesn't. A block chain will never decide who owns land, because courts and government does, backed by the power of the police.
deleted 5y ago
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