3 ms·

Crypto doesn't have to be explicitly stopped or shut down to be consigned to niche cases. In fifteen years Linux went from a hobbyist project in 1991 to a majo

Crypto doesn't have to be explicitly stopped or shut down to be consigned to niche cases. In fifteen years Linux went from a hobbyist project in 1991 to a major infrastructure project underpinning the Internet; Golang started in 2009 and now is ubiquitous in the tech world. Plenty of analogous technologies exist that were created and flourished in fifteen years, and they did so by providing meaningful value without requiring universal adoption to become effective. In contrast the Bitcoin paper was released in 2008 and blockchain still hasn't found the killer app that people outside of the crypto ecosystem rely on in some serious capacity. Fifteen years in blockchain tech is still slow, risky, and painful to use; scams abound and there's a distinct lack of boring, practical use cases that make blockchains a safe technology to use as foundational infrastructure. What manifests as people trying to stop blockchains is typically regulatory bodies trying to stop money laundering or the sale of unregistered investments. This isn't some shadowy cabal trying to crush Bitcoin but institutions watching Celsius Network and FTX detonate and trying to catch up to keep people from getting burned. So yes, the blockchain cat is out of the bag, but nobody cares. We are squarely in "put up or shut up" territory because enough time has passed for the tech to develop; if blockchains never catch on then it's because the tech just wasn't that useful to begin with.

rvz 3y ago
> In contrast the Bitcoin paper was released in 2008 and blockchain still hasn't found the killer app that people outside of the crypto ecosystem rely on in some serious capacity. Fifteen years in blockchain tech is still slow, risky, and painful to use; scams abound and there's a distinct lack of boring, practical use cases that make blockchains a safe technology to use as foundational infrastructure. There are more blockchains (not tokens) that exist beyond Bitcoin and are much faster and their use-case is worldwide, instant and extremely low-fee same-day payments. > What manifests as people trying to stop blockchains is typically regulatory bodies trying to stop money laundering or the sale of unregistered investments. This isn't some shadowy cabal trying to crush Bitcoin but institutions watching Celsius Network and FTX detonate and trying to catch up to keep people from getting burned. They already know they can't stop or ban it and these other blockchains, but they will go after the unregulated, non-conforming exchanges and have already introduced rules and regulations on the existing ones. But I'm afraid it isn't going away like it or not. > So yes, the blockchain cat is out of the bag, but nobody cares. Except, you seem to care enough to complain about it here and until the next time it gets talked about again, which is why you replied in the first place. > We are squarely in "put up or shut up" territory because enough time has passed for the tech to develop; if blockchains never catch on then it's because the tech just wasn't that useful to begin with. Of course it is no wonder why companies like PayPal, VISA, Moneygram, TransferGo, Stripe, Checkout.com, etc still continue to use it in their products.

rvz 3y ago

> In contrast the Bitcoin paper was released in 2008 and blockchain still hasn't found the killer app that people outside of the crypto ecosystem rely on in some serious capacity. Fifteen years in blockchain tech is still slow, risky, and painful to use; scams abound and there's a distinct lack of boring, practical use cases that make blockchains a safe technology to use as foundational infrastructure. There are more blockchains (not tokens) that exist beyond Bitcoin and are much faster and their use-case is worldwide, instant and extremely low-fee same-day payments. > What manifests as people trying to stop blockchains is typically regulatory bodies trying to stop money laundering or the sale of unregistered investments. This isn't some shadowy cabal trying to crush Bitcoin but institutions watching Celsius Network and FTX detonate and trying to catch up to keep people from getting burned. They already know they can't stop or ban it and these other blockchains, but they will go after the unregulated, non-conforming exchanges and have already introduced rules and regulations on the existing ones. But I'm afraid it isn't going away like it or not. > So yes, the blockchain cat is out of the bag, but nobody cares. Except, you seem to care enough to complain about it here and until the next time it gets talked about again, which is why you replied in the first place. > We are squarely in "put up or shut up" territory because enough time has passed for the tech to develop; if blockchains never catch on then it's because the tech just wasn't that useful to begin with. Of course it is no wonder why companies like PayPal, VISA, Moneygram, TransferGo, Stripe, Checkout.com, etc still continue to use it in their products.