| > I think that I see in my network of people that the more technically apt they are, the less they believe in it This is because they just see the blockchain as an inefficient database, rather than really understanding the problems Bitcoin solves and why Satoshi made the choices they did. There are important trade-offs between efficiency, redundancy, decentralisation, and robustness in an adversarial environment. The other aspect is that they just look at Bitcoin through a technological lens and judge it inferior to other networking & data storage technologies. They don't have a deep grasp of the concept of money and what properties makes for a sound form of money. Vijay Boyapati (ex-Google engineer) does a pretty good job explaining it from that perspective [1]. It's a shame that so many, otherwise smart, people are sleeping on such a revolutionary change in the world. The idea of Bitcoin has been thought about and predicted for many years by people held in high-regard among HN readers, such as Buckminster Fuller [2], Henry Ford [3], and Friedrich Hayek [4], and they'll still dismiss it out of hand. Such a massive lost opportunity for great skills, knowledge, and talent to be applied to what I think is one of the most important innovations of our civilisation. [1] https://vijayboyapati.medium.com/the-bullish-case-for-bitcoi... [2] https://news.bitcoin.com/look-at-how-buckminster-fuller-pred... [3] https://news.bitcoin.com/how-henry-ford-envisaged-bitcoin-10... [4] https://twitter.com/janpaul_f/status/1461596623038038017?s=2... |
> This is because they just see the blockchain as an inefficient database
I think it's crazy that you feel this way, I can only speak for myself and a few others, but we do in fact fully understand it and why it works this way.
Satoshi is not some god that has come to save us. He saw something that fraction of people in society consider to be a problem and attempted to solve it. He did not consider complex ways that his solution would interact with the society. A lot of us think that crypto causes more problems than it solves.