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by nradov 1418 days ago
Actually it hasn't worked anywhere except to incentivize capital expenditure on mining hardware which does nothing of value beyond wasting electricity. All of those protocols you listed are scams or pointless failures.
1 comments

You really think the first, ever, widely used public key databases are useless? You don't believe cryptography has any usecase? Or you misunderstand why a blockchain is novel? Two possibilities.
I read your comment, and started to draft a reply, but I went back through it, I don't actually think you understand the words you're using, so it's kinda pointless.
We have had widely used public key infrastructure available in database products since the 1980s. Perhaps you weren't paying attention?

Cryptography obviously has use cases. Real customers have been paying for it since long before the advent of digital computers. That has little to do with the scammers, grifters, and ideologues pushing cryptocurrency schemes.

There's not much novel about blockchains. It's a clever bit of mathematics, but so far no significant commercial value. You should read the NIST overview.

https://csrc.nist.gov/publications/detail/nistir/8202/final