• @[email protected]
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    71 year ago

    There is value in a fully distributed append-only database system that can run on nodes that don’t trust each other. We just haven’t found any valid use of it outside crypto yet.

    • @[email protected]
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      181 year ago

      There is value in a fully distributed append-only database system that can run on nodes that don’t trust each other. We just haven’t found any valid use of it outside crypto yet.

      FTFY

      • @[email protected]
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        71 year ago

        How is crypto not a valid use? Crypto as a get rich quick scheme is stupid and useless, but crypto for peer to peer payments is perfectly valid.

          • @[email protected]
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            21 year ago

            I’m not suggesting that crypto replace any existing use for bank cards or apps like zelle or cash app. I’m suggesting that there are other payment scenarios where excusing systems don’t fit, like a dispensary that lost access to a payment processor (hypothetical, not sure if this has happened) or a merchant wanting to avoid transaction fees. It’s absolutely useless in 99% of all transactions, but it’s not 100%.

          • @[email protected]
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            11 year ago

            Are you arguing that any technology that does the same thing as an existing one has zero value whatsoever?

            • @[email protected]
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              11 year ago

              If I had to spitball an answer, I’d say the value of an innovation increases as it improves on existing similar things, and decreases as it worsens from them.

              I don’t see any benefit to crypto for sending money, and introducing a new, volatile currency backed by people’s imagination is a detraction to me.

        • @[email protected]
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          31 year ago

          Oh yeah I love paying someone using a wildly volatile currency that goes up and down like a roller coaster and has exorbitant transaction fees. But at least I’m not a chump who uses a bank card.

          • @[email protected]
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            21 year ago

            I’m not anti bank or bank card, when those aren’t an option crypto is a valid option. Ideally something without much for transaction fees, of course. Since prices are volatile, you would likely only purchase what you needed when you needed it.

            This is wildly inconvenient, but remember this is a “banks are not an option” scenario. That’s really up to the recipient. It could be a dispensary that got shut down by their payment processor, or another shop that wants to avoid the 3-5% transaction fee that payment processors charge. And yes, it could be something nefarious or illegal on the dark web.

            To say crypto has no valid uses is simply inaccurate. For most people, though, there are better options like peer-to-peer payment apps (zelle, cash app, etc.) or just plain old cash.

    • GigglyBobble
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      71 year ago

      If there’s no valid use how do you derive value? It’s old tech at this point and still looking for a problem to solve.