this post was submitted on 30 Jun 2023
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Damn... maybe crypto/blockchain isn't so bad (beehaw.org)
submitted 1 year ago by metaltoilet@beehaw.org to c/chat@beehaw.org
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I'm going to keep this short but I just fell down the rabbithole of crypto again and maybe it isn't as bad as I thought. Many of their ideas are very similar to the fediverse's. The idea of decentralized finance using a stablecoin sounds awesome to me. (though i'd much prefer to live in a world where money isn't needed) Maybe the technology is actually good but the techbros and scammers ruin it with their false promises and complicated words. Hopefully, in a few years after the rest of those scammers have moved on to scamming with AI this tech could be truly used for meaningful purposes.

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[–] kool_newt@beehaw.org 2 points 1 year ago* (last edited 1 year ago)

A blockchain with an appropriate consensus protocol is like implementing a globally shared spreadsheet where nobody can alter history.

The types of things a decentralized globally shared spreadsheet that can be trusted allow are amazing and it's up to us how we use this potentially world changing tool. But like any tool, including the dollar, it's also useful to those with malicious intention.

It's still the early days for this technology.

What I find odd is that people expect a tool as powerful as blockchain to be somehow without crime and all the bad stuff that plagues everything else in life.