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by brighton36 3769 days ago
The reason to use a blockchain is because you're locked out of service in the incumbent models. That means : gambling, drugs, sometimes porn, and capital flight. That's why you use a blockchain. (And IMO, that's what makes them so cool)

Otherwise - Blockchains totally suck at everything, and these private-blockchains/blockchains without energy are completely inane and stupid
1 comments
nickpsecurity 3769 days ago
I haven't seen anyone say that. Why can you do those things with a blockchain but not non-blockchain, settled ledgers? Seems like it boils down to rules and who is enforcing them rather than the tech.
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brighton36 3766 days ago
Correct. Blockchains are for regulatory arbitrage. The entirety of the efficiency of any blockchain depends on the regulatory environment. If drugs and gambling were legalized tommorrow, across the Internet connected world, no one would mine, and blockchain would die.
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nickpsecurity 3766 days ago
I'm focusing on the other end of this. Couldn't those blockchains or at least those related to criminal activity be made illegal, controlled via regulation, or seized? I don't see how a blockchain is immune to this if people ever try to convert it to cash.
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