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by samarama 1571 days ago
That’s why the vast majority of L1s are not proof of work.
1 comments

Yet Bitcoin is still considered the OG token and a "true" cryptocurrency as mentioned above and not old dangerous tech.

Also in the last 10 years, only a handful of tokens have had a somewhat usable blockchain which grinds to a halt anytime people share pictures of cats or monkeys and we're told to wait for another year or two for an update to whatever protocol is trendy at the moment. Rinse and repeat every year. Also also, every other year a cryptocurrency comes along and professes to be the second coming of God with solutions to problems with don't have.

So no, not interested.

> Yet Bitcoin is still considered the OG token and a "true" cryptocurrency as mentioned above and not old dangerous tech.

The solution to that is to educate people on how Bitcoin is old dangerous tech, not to throw out all other blockchains along with Bitcoin.

> a somewhat usable blockchain which grinds to a halt anytime people share pictures of cats or monkeys

These chains don't "grind to a halt" in any sense of that phrase, they dynamically price a scarce resource (block space). The chain runs at 100% capacity during these spikes in demand.

> we're told to wait for another year or two for an update to whatever protocol is trendy at the moment. Rinse and repeat every year.

Every few years, cryptocurrencies upgrade their capacity using new technology, and every few years, enough new people start using them to saturate the new, higher capacity. There's nothing contradictory about that.

> Also also, every other year a cryptocurrency comes along and professes to be the second coming of God with solutions to problems with don't have.

Every other year a traditional tech company also comes along and professes to be the second coming of God with solutions to problems we don't have. But we don't judge Apple based on the failure of Juicero.

https://en.wikipedia.org/wiki/Sturgeon%27s_law

> So no, not interested.

You have a right to not be interested, but you're choosing to share your take, and your take is incorrect.