This is why I hate bitcoin
Source:
https://twitter.com/sarahjeong/status/951163739562061824
Text:
Blockchain is an elaborate work-around for a very specific problem: verifying irreversible transfers of value without a centralized authority. In other words, it's a computationally burdensome way to hate the government.
Almost everything that is supposedly going to get solved with blockchain can be solved with some kind of version control hosted on a central server, except for the drugs, the scams, the tax evasion, and payment-blockade-circumvention. I acknowledge that those are valid use case scenarios for bitcoin.
90% of the people who are dazzled by "crypto" right now absolutely do not understand the core technological premise of any of this shit. It's an interesting innovation with an extremely limited ability to actually effect any positive change in the world.
Note:
I didn't write this, just saw it on Twitter and was curious what others thought would be a good rebuttal.
Posted Jan 11, 2018, 3:48 AM UTC
Well, everything Butcoin solves CANNOT be done with a central server for one thing. Have you noticed the push back from established institutions? If there was a central server (or even multiple) causing this much problem for them, the government would raid it, the companies would pay to make it disappear, etc. Bitcoin is great for all those things but could most definitely not be done centrally.
I do agree that many people in the space right now don't care or know about the actual tech. I don't think this is a problem though because adoption is adoption. For example, many people have know idea of how to car repair or even maintenance yet they drive. Same thing with computers. If everyone knew how their computer works and how easy it is to fix, I would be out of a job.