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I posted about this on LI recently: "What is the value of cryptocurrency/blockchain/web3? Why should anyone care? Here is my opinion (as a developer who studi
by jbaczuk 4y ago
I posted about this on LI recently:
"What is the value of cryptocurrency/blockchain/web3? Why should anyone care?
Here is my opinion (as a developer who studied and built blockchains):
It allows digital information (value) to be open/free (as in not under the control or in the power of another) and virtually permanent.
That's basically it.
If you want digital money, we already got that (Cash app, Venmo, online/mobile banking, etc.).
You want digital collectibles, that's been around forever in games, etc.
But I think we all know most people see value purely in the speculation. Be careful not to confuse all the "innovation" and hype as real substance, because most of the time someone is trying to PUMP and DUMP, which can make a lot of money. Just look at any of the thousands of blockchains/coins that are no longer used or traded, but were supposed to change the world."
- miketery 4y agoDigital money is not solved. Yes for the average westerner, however many unbanked in the west and globally.
- jbaczuk 4y agoBitcoin?
- TimJRobinson 4y agoAnd when Venmo bans you for using it in the "wrong country" as has happened to friends of mine? Or when PayPal freezes your account because you're "suspicious"? or Robinhood stops you buying a stock because it's hurting their friends? You may be ok with companies messing with your life because they can, many of us are not. Especially non US citizens where we face a lot more financial discrimination.
- jbaczuk 4y agoPerfect use case for Bitcoin