this post was submitted on 18 Nov 2023
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We are 15 years into blockchain technology now, and still, there's not a single thing it does better than existing non-blockchain tech. The functionality of Ethererum's "smart contracts" makes a 10-year-old Wordpress site look like advanced alien technology.
It's time to admit this was a fun experiement, that yielded nothing of value to society. I know everybody hopes to get rich, but that's just not going to happen. It's mathematically impossible for even a notable percentage of holders. It's a shame so many people have to lose so much, to learn, and some of them will refuse to admit the reality of the situation and repeat their same mistakes over and over.
You mean except for instantaneous money transfers to anyone. 7 days …. is how long it took to move money from E*trade to my bank account. 3 days … is how long it took to move money between my two bank accounts. 5 seconds is how long it took to move money between my two Eth wallets.
How about a SWIFT wire getting stuck for 2 weeks - just to be bounced back 200$ short? Happened twice over 5 years. B2B From US to France. Respectable well known banks. No explanation from neither bank. Nobody reimbursed the lost money.