3 ms·
People make bad predictions all the time. Because making predictions is a fool’s game for the most part. And he isn’t even making a prediction. He’s asking a s
by rhaway84773 4y ago
People make bad predictions all the time. Because making predictions is a fool’s game for the most part.
And he isn’t even making a prediction. He’s asking a simple question. What does the blockchain provide that we cannot already do in a much better way.
Unfortunately the crypto folks are simply unable to answer that question and so go through a variety of obfuscation strategies.
- sshine 4y agoProgrammable money. The way blockchains do it better is that you can build a system of reversible transactions on top of a system with irreversible transactions, but you cannot do it the other way around. Irreversibility is the stronger primitive, which means you can define the terms of reversibility flexibly on top. Systems where reversible transactions rely on a bank employee’s whim are the worst. If you don’t see the value in this, perhaps you haven’t tried to be paid by foreign customers. Banks will essentially withhold money without explaining anything and without your ability to know where they went, how long they will be in transit, if they’re flagged, why they were flagged, if there’sa process going on, or not. Then they may charge you a processing fee and deny the transaction even though you can prove that you’re performing a legitimate business transaction.