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by ChainOfFools
890 days ago
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Blockchain is not a technology in the sense of being a better "how" for some existing problem. blockchain is before anything else, a social contract based on the premise that everything humans care about ('value') really does boil down to "voting with money," and thus requiries enforcement of such economic consensus through technology. It is sufficiently removed from expectations people normally have about how they relate to one another that it would require quite a revolution indeed to be adopted in the capacity in which it is intended to function as intended, that is, to become the ultimate source of truth for every transaction on Earth. It's a back door attempt to fundamentally rewire how value is routed through society, and in the abstract this _might_ be a good thing (perhaps too generous with that 'might') in practice it cannot possibly happen due to physical constraints on consensus formation at the global, realtime scale that it would have to happen. As a result shortcuts are taken (or appear organically, i.e. exchages) in the form of centralized nodes of consensus settlement (what the promoters like to call Layer 2, sharding, or similar), and it's the people controlling these centralized nodes who end up becoming the new kings of this "revolutionized" system, the trust-me-bro's of trustlessness. I've met some of them, and they are not people who I would ever want to have anyone I care about to be under the thumb of. |
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That's fundamentally a bad thing. I want my social contracts enforced socially. The rot is at the heart.