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The first argument boils down to "I need a central entity to fix mistakes". That does not necessarily apply to everything. An immutable ledger sounds like some

by baisq 4y ago

The first argument boils down to "I need a central entity to fix mistakes". That does not necessarily apply to everything. An immutable ledger sounds like something that could be useful. Myself I can't think of any uses besides crypto, but the fact that I can't find any use for a technology myself doesn't turn it into "dangerous nonsense"

2000UltraDeluxe 4y ago
In quite a lot of cases it's because we need someone to take responsibility for the actions of an entity, or the blame when something goes wrong. In cases like that the blockchain won't really change much, and it ends up being another technology/process that is available. That being said, I'm sure there are other cases where the blockchain can be used. The problem is that it's currently used as the proverbial hammer, making every problem look like a nail.
ahartmetz 4y ago
What does turn it into dangerous nonsense is the "solution looking for a problem" phenomenon, fueled by techno-libertarians and more so plain greedy people, looking for a way to justify and entrench the mostly useless technology that makes them rich.
- baisq 4y ago
  - hapiri 4y ago
    In the sense that it is useless for society, by extracting the collective's wealth while providing no net benefits.
    - baisq 4y ago
      - Ragnarokk 4y ago
        So deep. We all live in our matrix bubble
  - automatic6131 4y ago
    Compare romance scams, authorise push payment fraud, and ponzi schemes. All of these make someone rich, and all are negative sums, being in fact worse than useless.
  - biorach 4y ago
    If it makes someone rich at a high cost to others without adding any value whatsoever then it is useless. In light of the massive energy consumption it may be worse than useless.
  - tsimionescu 4y ago
    By that logic, would you say that Bernie Madoff's enterprise was useful, as it made him rich?
DarkWiiPlayer 4y ago
I found a use for it: Doxxing.
whitepaint 4y ago
Oh, you're about to enter the world of wonders: https://ethereum.org/en/dapps/#explore https://ethereum.org/en/dapps/#explore

by baisq 4y ago

2000UltraDeluxe 4y ago

In quite a lot of cases it's because we need someone to take responsibility for the actions of an entity, or the blame when something goes wrong. In cases like that the blockchain won't really change much, and it ends up being another technology/process that is available. That being said, I'm sure there are other cases where the blockchain can be used. The problem is that it's currently used as the proverbial hammer, making every problem look like a nail.

ahartmetz 4y ago

What does turn it into dangerous nonsense is the "solution looking for a problem" phenomenon, fueled by techno-libertarians and more so plain greedy people, looking for a way to justify and entrench the mostly useless technology that makes them rich.

baisq 4y ago
- hapiri 4y ago
  In the sense that it is useless for society, by extracting the collective's wealth while providing no net benefits.
  - baisq 4y ago
    - Ragnarokk 4y ago
      So deep. We all live in our matrix bubble
- automatic6131 4y ago
  Compare romance scams, authorise push payment fraud, and ponzi schemes. All of these make someone rich, and all are negative sums, being in fact worse than useless.
- biorach 4y ago
  If it makes someone rich at a high cost to others without adding any value whatsoever then it is useless. In light of the massive energy consumption it may be worse than useless.
- tsimionescu 4y ago
  By that logic, would you say that Bernie Madoff's enterprise was useful, as it made him rich?

DarkWiiPlayer 4y ago

I found a use for it: Doxxing.

whitepaint 4y ago

Oh, you're about to enter the world of wonders: https://ethereum.org/en/dapps/#explore https://ethereum.org/en/dapps/#explore