3 ms·
>Bitcoin is the killer app for Blockchain If the killer app of the Blockchain is Bitcoin, what does it say about the underlaying technology that the "killer ap
by na85 4y ago
>Bitcoin is the killer app for Blockchain
If the killer app of the Blockchain is Bitcoin, what does it say about the underlaying technology that the "killer app" is useful only as an extremely volatile speculation vehicle, and an ecologically disastrous one at that, with a tertiary use case of paying for illegal goods and services?
- correlator 4y agoI think OP was saying the ledger mechanics are the useful part here, not the volatile speculation.
- na85 4y agoThe ledger mechanics have no practical use beyond Bitcoin, which itself useless except for the cases I outlined.
- ByteJockey 4y ago> a tertiary use case of paying for illegal goods and services? This is the use case mentioned. The OP is saying that everything else about it is useless. Having the option to do something illegal should the need arise is a benefit to some people, and government control of the financial sector is not beloved by everyone.
- macintux 4y agoBut it seems like everyone is (mostly indirectly) impacted by the ransomware epidemic that Bitcoin has enabled.
- ByteJockey 4y agoYup. That's considered an acceptable trade-off in the circles I'm talking about.
- astrange 4y agoIt's actually primarily useful for buying legal goods that credit card companies won't touch, like research chemicals. It's not good for crimes because Chainalysis can track the coin movements afterward - though maybe it's good enough. And porn doesn't seem to use it, maybe because the transaction costs are too high or it's too unethical even for them. And it's not good for speculation because it turns out it's just correlated to US tech stocks.