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None. Suffer. (lemmy.world)

submitted 2 days ago by Stamets@lemmy.world to c/whitepeopletwitter@sh.itjust.works

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[–] magnetosphere@fedia.io 159 points 2 days ago (116 children)

I’ve read that blockchain itself is a good technology. NFTs are a laughably absurd attempt to exploit that technology for profit.

Xitter op needs to shut up.

[–] ryathal@sh.itjust.works 148 points 2 days ago* (last edited 2 days ago) (53 children)

Blockchain is a solution in search of a problem. A way to establish trust while not trusting any party is a cool concept, but in the real world it's far easier to establish a source of trust.

[–] taladar@sh.itjust.works 28 points 2 days ago* (last edited 2 days ago) (4 children)

Congratulations, now your trust relies on your subject never becoming important enough that someone bothers to run 50%+1 of the nodes in your network which means only very, very large subjects (or ones where trust wasn't very important in the first place) ever even have a chance of that not happening. What do you say? Your technology doesn't scale to very, very large subjects because of abysmal transaction rates?

[–] prototype_g2@lemmy.ml 6 points 1 day ago (1 children)

now your trust relies on your subject never becoming important enough that someone bothers to run 50%+1 of the nodes in your network

Yup. Very well said. People don't realize the extent of wealth inequality (and how ridiculously resource intensive blockchain tech is). If anything important were to be decide by a blockchain, the top 1% would control the network.