this post was submitted on 04 Oct 2024
640 points (97.8% liked)
Technology
59454 readers
3215 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Crypto and blockchain is tech coming up with a solution that no one asked for. Blockchain is just a database that is (at best!) extremely energy inefficient. Trust comes from the same sources (brand, marketing, advertising, social cues), it being on a blockchain does not magically generate trust.
And crypto’s biggest strength as an uncontrollable and decentralised store of wealth ignore the fact you can only buy and sell it on marketplaces, which control and centralise it, so for nearly everyone involved it’s a pyramid scheme, those at the beginning persuading new people to join to prop up their assets profits
Do you mind if I explain a little more about decentralized ledger technology to help you understand the tech, and correct some of your mistaken understanding?