Blockchain is not only crappy technology but a bad vision for the future

An overall interesting read, but I have two major nitpicks:
First, it does not really address problems with the blockchain itself, but rather problems stemming from misconceptions about how the blockchain is used.
The point of the blockchain has never been that of automagically turn untrusted parties into trusted ones, but rather to prevent someone from "rewriting history" to their own advantage, which in my opinion is a very important goal, especially in this day and age.
Second, the blockchain systems do have actual defects and weaknesses, but the article fails to address them, or does so indirectly (i.e. extreme speculation causing the *coin value to be very volatile, or majority attacks performed by ISP-level actors who can reconfigure the internet via BGP).

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bitcoin is less monopoly money than usd. at least they don't print $300 billion+ new bills a year.

It is written by someone who does nolt understand software but does point out a few big flaws. Like the black box problem. Unless everyone audited all software running the bitcoin mining setups and exchanges there will be a chance of hacking said systems and creating distrust.

But bitcoin will exist as long as cocaine can't be legally traded.

what are you, a jew?

>medium.com
>@literallywho
fuck off, will not read

>wanting money means being jewish
im sorry but food/housing/transportation/entertainment and everything in life costs money user.

How do you replace something that's not really used for anything?

Instead they just print a billion tethers whenever.

I have yet to read a medium.com post that is remotely good or interesting.

Buying drugs over the internet is pretty fucking useful

What the fuck is medium.com and how's it different from reddit?

The problem is you need to trust the implementation to trust the integrity of the historical data.
And a correct history doesn't do any good if the original data wasn't correct to begin with.

Didn't stop hundreds of people from getting arrested when SR was raided.

>Didn't stop hundreds of people from getting arrested when SR was raided.
It's been a couple of years since then, user. Everybody's moved on to Monero which is untraceable. That's the thing about a bunch of people getting busted. Everybody else smartens up real quick and crypto is a fast evolving space.

Law enforcement can still get to them.
Drugs aren't digital goods. They just need to buy drugs and track the physical packages back.

All Monero is useful is for abusing people's browsers as a miner.

Wow, just looked at the front page. Yeah, that looks horrible.

Is that cooling "method" actually effective?

its cyberpunk as fuck. ive interacted with an internet drug kingpin through encrypted communication regarding one of his vendors on a marketplace build around cryptocurrency.
this is the future nigger fuck off with your bullshit

>There is no single person in existence who had a problem they wanted to solve, discovered that an available blockchain solution was the best way to solve it, and therefore became a blockchain enthusiast.

This is a lie.
My problem was: "Cannot order LSD online"

Onion+Bitcoin solved that problem.

I became a blockchain enthusiast since then.

SR was a centralized platform. It was SR's fault, not crypto.

>medium
let me guess, they say that crypto somehow oppresses womyn, blacks, mexicans, muslims, and trannies?

Crypto must be given for free to disadvantaged peoples

That's a work-around. A shitty one with considerable risks.
It doesn't fix the actual problem.

> oy vey you need to go back to using fiat currency like a good little goy

fuck off schlomo. the future does NOT belong to your kind.

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Israel is working on cryptocurrencies too.

>talking about SR
>never bought heroin from SAW and spent 12 hours nodding because holy fucking golden triangle batman
>never bought heroin from dieseltime only to be disappointed
>never bought fentanyl from that golden sun guy i can't remember his name, chemist up in the uk
>never bought roxies from that dude in florida
>didnt burn down your house when you saw the news the morning
>probably wasn't even a member of the book club on the forums
newfags
A medieval hellhole is a pretty damn good place to be for someone who isn't cucked by morals.

Did you buy your katana and fedora with bitcoins?

i bought my fedora at walmart for $12
go smoke some crack faggot

SR fell becuase of poor opsec. They could not do shit until a chance discovery on the dude that ran it.

I can't wait for the day all countries agree to prevent crypto from trading against fiat.

>SR fell becuase of poor opsec. They could not do shit until a chance discovery on the dude that ran it.
But that's the point the guy is trying to make.
You still have to trust something. Like you have to trust the guy running the marketplace to not be retarded.

It doesn't have to

Communism has proven that it does.

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The government has no way to know what physical package had drugs and who bought from who without tracing the crypto moron. It's all done between anonymous accounts with PGP messages.

>sending packages is completely anonymous and untraceable because of unrelated crypto

are you being retarded on purpose?

>They know who the users are without tracing the crypto back to their coinbase
Are you being retarded on purpose?

They can trace the physical package back to whoever send it, completely side-stepping any crypto.

Out of the thousands of packages how do they figure which ones had anything with darknet.

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Did you even read what I wrote?
They simply order it, it's a sting.

Oh, nope I didn't read what you said. That sounds like a costly and time consuming way to do nothing but catch 1 dealer at a time possibly with somewhat shakey evidence.

That post is absolutely wrong and completely idiotic from beginning to end. I don't have to explain any of it, everything's obvious. He's really wrong. What an idiot.
And no, terms like blockchain and machine learning aren't just memes. They're just buzzwords. And if I understand correctly a buzzword literally just mean a frequently used word, nothing else. It doesn't mean they're useless technologies and they're really not.

As long as they can tell the public they're cracking down hard on darknets it will be worth it for them.
>1 dealer at a time
1 dealer can lead to more dealers
it can also lead to a fuck ton of his customers
>somewhat shakey evidence.
Oh yeah he just coincidentally send the exact thing that was ordered to the exact address. No intent to sell at all, your honor.

If the economy grows, you must create new money to capture that growth. Otherwise, the money hoarders capture all the new value instead of those who deserve it (creators and businesses)

Just another "I'm a loser who does nothing but plays games and streams all day and every possible source of income is a scam or below me" article.

>smart-mangos
Working for the company helping Walmart implement "smart-mangos" I can tell you that whether the mango is actually organic or not isn't a part of the equation.

The key and only factor in using Blockchain to record the transportation and handling of mangos from field-to-farm is the fact that we need to know exactly where the mango came from.

That is all.
There is no reason to lie about where the mango came from.
The tracking of mangos from field to farm is a purely pragmatic solution to the immediate tracing of food poisoning incidents and has nothing to do with ``organic'' or any other buzzwords like that.

>crypto starts going back uo
>muh games autists throwing a shitfit again becuase of graphics cards
Like
Fucking
Clockwork

Who are you quoting?

But money printing transfers value to the money printers.

Guy makes a decent point but is kinda myopic on the actual utilities of a trustless distributed ledger.

Tokenizing assets (issuing shares on properties, companies or IP as Ethereum tokens basically) is going to be a pretty big deal - just needs a legal framework that allows you to declare your property to be legally representable by a smart contract. Then you make them spendable by crypto debit card that is functionally identical to any regular Visa (Tokencard, Monaco, Tenx). I expect stocks to eventually be migrated to tokens as well.

The crypto scene in general is just memebuzzword get rich quick schemes, but there are some extremely legit developments going on inside.

"Blockchain is not only crap but also it's bad"

thanks, just sold my rig and 100k

Why not just log it at a Walmart server?

What? Hell no. That's saying a central bank is the owner of everyone's money. No, your money is your money. A central bank can inflate away the value of your money, but it's up to you to invest that money in something that gives you a return instead of hoarding.

fucking silicon valley reference in the comments
medium.com/@LesElkind/your-world-weary-point-of-view-contains-lots-of-good-observations-about-the-current-world-but-adds-866745cd39de

What the medium reading Mac book Pro using coffee drinking shirt wearing aesthetic called? I love that shit

>A future in which economic relationships are decentralized and disintermediated threatens the implementation of authoritarian socialism
>Literally written by a guy who started a "progressive" university student group
>This is highly (((problematic)))

>I might be able to do something with it someday
you will be able to do shitty 3d renders?