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A comment on There's No Good Reason to Trust Blockchain Technology (2019). Parent comment

Re:There's No Good Reason to Trust Blockchain Technology (2019) by naveen99 on Monday August 17, 2020 @08:33AM (#24186592)
It’s more for when you already trust Steve, but you don’t trust your national currency, the credit card companies, and other available “escrows”. Why force use of an escrow when you trust your counterparty ?
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Re:There's No Good Reason to Trust Blockchain Technology (2019) by arcticbull on Monday August 17, 2020 @11:32AM (#24188202)
> Why force use of an escrow when you trust your counterparty ?

Why use a trustless payment method when you trust your counterparty and waste a month's worth of electricity?

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Re:There's No Good Reason to Trust Blockchain Technology (2019) by naveen99 on Monday August 17, 2020 @11:57AM (#24188417)
Because my counterparty may not be able to spend my IOU elsewhere.
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Re:There's No Good Reason to Trust Blockchain Technology (2019) by arcticbull on Monday August 17, 2020 @12:21PM (#24188681)
This situation feels pretty contrived, do you have a concrete example, especially one which you've seen personally or been personally involved with?
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Re:There's No Good Reason to Trust Blockchain Technology (2019) by naveen99 on Monday August 17, 2020 @01:03PM (#24189159)
not personally. but imagine you are the king of island A, and want to engage in a transaction with king of island B. Or you want to split up your estate amongst your children.
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Re:There's No Good Reason to Trust Blockchain Technology (2019) by arcticbull on Monday August 17, 2020 @01:50PM (#24189772)
I get that, but I firmly believe that solutions, certainly ones as highly touted here, should operated in the problem domain. We've yet to identify, in 11 years, a concrete problem that blockchains are better at solving than any other solution.
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