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by timdaub 1924 days ago
Ok, this seems to be a well-thought out argument against Bitcoin. I'm happy to buy into it. Yes, maybe BTC corrupts people.

But then without proper digital money protocols, how are we supposed to build the next wave of web applications?

Ethereum can be used to do useful things. E.g. we're rating data sets by quality through staking [1]. NFTs seem to make sense for artists (see what Mike Shinoda from Linkin Park said) [2]. Those products are simply not possible without projects like Ethereum.

1: https://rugpullindex.com

2: https://mobile.twitter.com/mikeshinoda/status/13580909764142...
1 comments
sdenton4 1924 days ago
We have lots of non-crypto digital money protocols. Millions of people use them every day.

Crypto currencies and block chains are mostly reinventing existing wheels, with a weak promise of decentralization on top, which seems to break down whenever a big-enough event happens.

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timdaub 1924 days ago
I tried using traditional banking to build modern applications. In Germany, it's a nightmare.

Additionally the space is heavily regulated. I worked for a company that did several million EUR a year legit revenue in the music industry. Stripe, Adyen and others slammed the door in front of us when we wanted to build automated royalty payments.

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