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A lot of people pushing Blockchain technology have a vested interest in making it a more pervasive technology. Because Blockchain applications drive up the valu

A lot of people pushing Blockchain technology have a vested interest in making it a more pervasive technology. Because Blockchain applications drive up the value of their crypto assets and offer more opportunities for speculation using crypto. Blockchain applications don't necessarily need to use existing cryptocurrencies. However in that case you need to find some other incentive to get people to mine your blockchain, which is hard. And consequently having a small mining pool makes you vulnerable to a 51% attack defeating the entire purpose of a "tamper-proof" log. Thus it's easier to just use Ethereum, which in turn drives up demand for that cryptocurrency.

ak_111 5y ago
The funny thing is that I don't believe there is a "blockchain lobby" that is driving hype similar to bitcoin and other fads, that would at least make it more compressible. In fact it is not clear who benefits if it gets "adapted", whatever that means. It just seems collective delusion in pushing the technology by people who have little stake in it if at all, and sensible people have just given up trying to point out that it is vapourware, but the attention seems to be increasing year on year if anything...
- armada651 5y ago
  > In fact it is not clear who benefits if it gets "adapted", whatever that means. People who hold cryptocurrency benefit from increased demand and hype around it. It drives up the value of their assets even if indirectly. Not everyone may even be aware that they have this conflict of interest. They may genuinely buy into the hype, which is why they hold cryptocurrency in the first place. However as always we should be skeptical of technology advice from people who stand to make money from you choosing one technology over the other.
- gravitycorn 5y ago
  Adaption benefits those who adapted earlier. It’s always funny to see early adopters’ criticisms of inflation politics and power to the 99% rhetoric when all they want to do is flip the curve around and apply the same “upward distribution” to their monetary system, but in reverse (timewise) and worse (distribution wise).

ak_111 5y ago

The funny thing is that I don't believe there is a "blockchain lobby" that is driving hype similar to bitcoin and other fads, that would at least make it more compressible. In fact it is not clear who benefits if it gets "adapted", whatever that means. It just seems collective delusion in pushing the technology by people who have little stake in it if at all, and sensible people have just given up trying to point out that it is vapourware, but the attention seems to be increasing year on year if anything...

armada651 5y ago
> In fact it is not clear who benefits if it gets "adapted", whatever that means. People who hold cryptocurrency benefit from increased demand and hype around it. It drives up the value of their assets even if indirectly. Not everyone may even be aware that they have this conflict of interest. They may genuinely buy into the hype, which is why they hold cryptocurrency in the first place. However as always we should be skeptical of technology advice from people who stand to make money from you choosing one technology over the other.
gravitycorn 5y ago
Adaption benefits those who adapted earlier. It’s always funny to see early adopters’ criticisms of inflation politics and power to the 99% rhetoric when all they want to do is flip the curve around and apply the same “upward distribution” to their monetary system, but in reverse (timewise) and worse (distribution wise).