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Great essay. Now, can you point out which of those use cases can't be done with regular USD, if someone like Paypal released an API? Edit: I also disagree with
by aliakhtar 11y ago
Great essay. Now, can you point out which of those use cases can't be done with regular USD, if someone like Paypal released an API?
Edit: I also disagree with 'reputation based blockchain'. Reputation based anything online is easy to beat, and given the massive amount of scams in bitcoin, it clearly doesn't work.
- natrius 11y agoPayPal collects fees. They also restrict access to their platform and funds held on the platform. I am not talking about currency. Let's pretend the world will run on dollars indefinitely. Blockchains grease the skids of trade. You will trade with far more individual strangers than you do today. You will trade in new ways that weren't possible before blockchains let us encode the rules for interactions in a world computer. Blockchains will reshape our world. I think our currencies will be defined by blockchains as well, but don't get distracted just because you don't believe that particular bit. Blockchains are bigger than currency.
- deleted 11y ago[deleted]
- aliakhtar 11y ago> PayPal collects fees. So do miners. Again, you haven't really given me any specific use cases, you've just made some vague statements about how blockchains will revolutionize everything. If you mean smart contracts, they can be done more efficiently with a centralized service, without using a decentralized blockchain.