Re:Washed Up
by betwixthewires on Thursday January 06, 2022 @03:15PM
(#29829373)
This is a part of it, and I think it is fantastic to enable these sorts of useful features, but the idea that the entire web is going to run this way, incentivizing things for the sake of it, and the huge push by marketing people to sell mostly trash really irks me.
The big selling points are censorship resistance, distributed access, direct middleman free payment for services all sound great. Unfortunately most of what we are getting right now doesn't solve any of these problems and is rent seeking garbage.
To people that believe in it, blockchain and cryptocurrency enables this. They claim that existing payment providers cannot handle large numbers of payments of $0.002. They further claim that this will take over everything, not just the web and that even cloud providers will go out of business as people make micropayments to others to store files and the like.
I think it's all ridiculous but after a lot of researching this is my current understanding. Appreciate any corrections.