that’s more of a question of being first on the scene
Countless others have used/use PoW and bitcoin still does it despite ETH and others migrating away. It doesn’t matter what the reasoning is, it still does it, and there is clearly no plan to stop doing PoW.
I used to mine scrypt coins I’m not ignorant of how this all works. Bitcoin is a solution in search of a problem and despite how many cryptos and startups have touted “how exciting the tech is” (a line I used to repeat back in 2011 mind you), what has it solved?
It takes more power/resources than traditional currencies
Transactions take minutes meaning it’s terrible for daily transactions
Setting up your own wallet and protecting your own keys is a massive barrier to adoption
I don’t know why you’re arguing about Bitcoin being PoW and how bad it is, in think I made it pretty clear that I agree with that…
As I mentioned in another comment, blockchains could replace the stock market and actually improve it. Some chains have transactions that are quick enough that it would be perfectly fine for it (except for automated trading systems, but fuck ATS), transactions would be publically visible instead of the mess that’s happening now, no more T+2 delay for the transactions to settle… But crypto is fighting tooth and nail not to be recognized as a security when it’s probably the only thing it could be good as… 🙄
Otherwise, as you said, blockchains are a solution in search of a problem to solve 🤷
But we don’t know who it was so how is it any better than what we currently have? That is not public record unless you own/buy 5%+. Crypto is offering no new information there and it can’t tie people to the moves. So this is wrong.
Some chains have transactions that are quick enough that it would be perfectly fine for it
Ok but it doesn’t improve anything and it’s still slower than what we have. We don’t need it, swapping it out with current systems changes nothing except for making the transactions slower.
blockchains could replace the stock market and actually improve it.
I just don’t see how. What does it bring to the table?
The reason I keep talking about PoW is that it is a huge part of the consideration here. Mining requires rare earth metals/hardware and an inordinate - and very possibly unsustainable - amount of power. All to do what our entire currency system already does.
Countless others have used/use PoW and bitcoin still does it despite ETH and others migrating away. It doesn’t matter what the reasoning is, it still does it, and there is clearly no plan to stop doing PoW.
I used to mine scrypt coins I’m not ignorant of how this all works. Bitcoin is a solution in search of a problem and despite how many cryptos and startups have touted “how exciting the tech is” (a line I used to repeat back in 2011 mind you), what has it solved?
It takes more power/resources than traditional currencies
Transactions take minutes meaning it’s terrible for daily transactions
Setting up your own wallet and protecting your own keys is a massive barrier to adoption
Regularly the tool for scams and theft
What has Bitcoin done for us?
I don’t know why you’re arguing about Bitcoin being PoW and how bad it is, in think I made it pretty clear that I agree with that…
As I mentioned in another comment, blockchains could replace the stock market and actually improve it. Some chains have transactions that are quick enough that it would be perfectly fine for it (except for automated trading systems, but fuck ATS), transactions would be publically visible instead of the mess that’s happening now, no more T+2 delay for the transactions to settle… But crypto is fighting tooth and nail not to be recognized as a security when it’s probably the only thing it could be good as… 🙄
Otherwise, as you said, blockchains are a solution in search of a problem to solve 🤷
But we don’t know who it was so how is it any better than what we currently have? That is not public record unless you own/buy 5%+. Crypto is offering no new information there and it can’t tie people to the moves. So this is wrong.
Ok but it doesn’t improve anything and it’s still slower than what we have. We don’t need it, swapping it out with current systems changes nothing except for making the transactions slower.
I just don’t see how. What does it bring to the table?
The reason I keep talking about PoW is that it is a huge part of the consideration here. Mining requires rare earth metals/hardware and an inordinate - and very possibly unsustainable - amount of power. All to do what our entire currency system already does.