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"The "not good for" list is "practically everything." This line of debate is quite tiredsome. You don't see the advantages of crypto because you live a privli
by swalsh 4y ago
"The "not good for" list is "practically everything."
This line of debate is quite tiredsome. You don't see the advantages of crypto because you live a privlidged life with good banking, and thus don't see the use cases personally. But they do in fact exist.
"Has substantial centralized elements, could be done vastly more efficiently with a DB"
Second, this idea that anything you can do in crypto you can do "more effeciently" in a typical db is just plain discouting the benefits of decentralization. For example, when we centralized our supply chain in China, it was more efficient, but boy did it hurt when the pandemic hit. Now i'm never going to argue about putting everything in the blockchain, but there are substantial benefits to putting the important stuff in it.
"Depends on one or more smart contracts to effectively be perfect code with no bugs or unintended behaviors"
The Airplane you fly in needs to be engineered near perfect, or people die. Crypto development can't be "move fast and break things", it means slow and methodical development.
"Primarily used for illicit goods and services"
Because the regulatory framework is undefined, legitimate people don't want to risk going to jail because they accidently created a security. It's not because the technology is ONLY good for lillicit things.