There's No Good Reason to Trust Blockchain Technology (2019)

Re:There's No Good Reason to Trust Blockchain Technology (2019) by arcticbull on Monday August 17, 2020 @11:11PM (#24194865)

Popularity != sanity, and popularity != value, and popularity != efficiency.

See: beanie babies, furbies, tulips, leaded gasoline, leaded paint, the rise of fascism in Europe in the 1900s and so on. A lot of people using something doesn’t make it at all valuable, efficient, effective or good — anything, really. It has to do that on its own merits.

You can’t escape the fundamental economics here. It’s bad. Rather it’s great at separating people from their money, and allowing the trafficking of illicit narcotics and money laundering.

[edit] let’s look at it the other way. Why isn’t the popularity of the dollar enough to convince you the dollar is better? Who would have to adopt the dollar to change your mind?

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Re:There's No Good Reason to Trust Blockchain Technology (2019) by naveen99 on Tuesday August 18, 2020 @07:27AM (#24197423)

You are right, dollar is still better for facilitating most illegal behavior. I like the dollar.

I’ll tell you what would convince me bitcoin is bad: discovery of a bug that allows double spending retrospectively and someone corrupts the entire ledger to date. China taking over and re-educating me it’s bad. God addending the Old Testament or the Koran that it’s bad.

[ Parent | on HN ]