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by atemerev
1734 days ago
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I was always pro-crypto, but Bitcoin is a first generation cryptocurrency. It is still a work of a genius, but it is a first generation cryptocurrency developed 12 years ago. The world has moved on to more efficient and exciting things, like Solana, or Polkadot, or other 3G projects. And what gets me even more excited, this is just the beginning, we have barely scratched the surface of what’s possible to do with smart blockchains. |
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I think Smart Contract Platforms (SCP) are interesting, but they are primarily for trading shittokens and fraud. The only real use for DeFi I can see is stablecoin market making. But now we are playing with fiat again, are we not? I thought we wanted to get away from these shenanigans.
Bitcoin has not been superseded. It may not be possible to superseded it because of its cryptoeconomic model. Every other SCP printed all the coins on day one, sold to insiders, sometimes mostly insiders. Proof Of Stake is bad for decentralization and censorship resistance. It also misses the point about externally verifiable consensus. I don't trust people, I trust math.
This is vastly vastly different than BTC mining, which was generated through vast energy consumption. It can never be replicated.