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by Yizahi 3026 days ago
Yes I want cheap money transfer internationally and yes, I want a system capable to undermine authoritarian censorship. But I think that blockchain is extremely crude and unreliable technology to implement them. It is immutable, number of nodes (i.e. backups) is unpredictable, its hardware footprint is insane and will only increase in the future and bitcoin is going to be essentially centralized, with decisions concentrated in those lightning hubs and exchanges in offshore locations. I don't believe in the underlying technology, I think it may succeed but be very limited and not because some 3rd party will demolish it, but just because it is not a magical tech they claim it is. (and altcoins are mostly even worse in technology department)

Maybe I'm wrong and don't see some really long term perspective, well then I'll admit it. For now I don't use any of them.

1 comments

People are looking to solve some of those issues with other currencies. Not sure if any of the current iterations are good enough, but one example is Nano https://nano.org/en/faq
For anyone who doesn't follow altcoins, Nano is a rebranding of Raiblocks to attempt to reset the pump phase now that everything tanked 40%.