this post was submitted on 02 Feb 2026
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sigh
Once again:
Blockchain is not synonymous with cryptomining
Blockchain does not require proof of work
Cryptocurrency and NFT grifting does not devalue blockchain as an immutable distributed ledger
I swear to god people just copy paste whatever makes them feel good without any effort at understanding
True... But Satoshi did invent Bitcoin, which is proof of work, and is everything in OP
Except it says blockchain in the toot?
Shut up shut up shut up shut up shut up
Don't ruin a good thing we've got going on here
First my buy order at 100K CAD just missed executing before the bottom bounce, now this?
What can I say? I woke up this morning and chose violence 🤷♀️
This is a good comment that makes all good points. But I just wanna say let's stop saying "blockchain" singular and with no preceding article like we're tech CEOs and it's some immutable god. They're blockchains, plural, like any other data structure there can be more than one and there are. eg The blockchain of ethereum is distinct from the blockchain for bitcoin but they are both blockchains.
Valid point! But then how do you refer to the data structure/architecture/model concept? Sometimes we want a concise term (like bittorrent or ActivityPub) for the abstraction
It's a novel data structure, we can refer to it like we do other data structures: Linked lists, hash tables, primitives. The branded implementation of these things is what we typically make singular: Bitcoin, ethereum, monero (bittorrent, activitypub...)
Bittorrent implements a torrent swarm, activitypub implements a federated social network.
Why do you think LLMs are so popular?
Immutable so long as no one party or group owns more than half of the coins on a given blockchain... then the ledger is whatever they say it is and it propagates down because they can manufacture their own "consensus".
https://www.investopedia.com/terms/1/51-attack.asp
and most use cases around things like "smart contracts" end up still requiring a trusted third party at some point
https://pluralistic.net/2022/01/30/the-inevitability-of-trusted-third-parties/
No, the community controls the consensus through their nodes. A 51% attack only allows the attacker to perform:
In the event of a 51% attack the community can fork the chain - change the consensus and implement preventive measures like changing the mining algorithm, changing to PoW/PoS, banning all of the attackers coins, implementing a finality layer or a checkpoiting system etc.
It's not 51% of the coins, it's 51% of the computing power on the network. Both of which are virtually impossible in the case of Bitcoin, though not entirely impossible. I just wouldn't consider a 51% attack even remotely a threat to the network compared to something like government crackdown
That's PoW. With PoS, it is coin ownership.
Which is much more distributed than computing power.
Correct, and this post is about Bitcoin, which is PoW.
I'm not an expert, but I never understood why people would prefer PoS over PoW. Indeed, the latter requires to "waste" larger amounts of energy, but doesn't PoS favor rich groups of people colluding against the blockchain timeline?
Let's think about this. Ethereums total market cap is $325b, if you tried to buy anywhere near half the market cap, you would drive the price up so egregiously that not even the US Government could probably afford it, and so many people would get suspicious and stop selling, that it likely would be impossible....but, even if you could, the action of falsifying even 1 transaction and getting caught would absolutely wreck the entire value of the chain driving it to zero. So you would have to spend probably on the order of $1 trillion dollars or more to effectively delete your money.
The only reason that would ever happen, and this would be quite the extreme, is if a large government like the US or China, saw it as so much of a threat, that they would go to this length instead of just banning it and letting it fizzle out.
Even if an entity could throw away $1T, there are many other ways to devalue crypto or make it untrustworthy. $1b of thugs, propaganda, and lobbying is way way more effective.
Not anymore than PoW, which requires specialized hardware that can't be repurposed for other uses (and thus requires money to enter). I'm not sure if is still true, but I believe at one point less than 10 companies had over 51% of the BTC network.
Because ownership tends to be much more evenly distributed than ACIS ownership, it makes it harder to collude - you have to have 51% of all coins that are staked (and smaller owners generally pool to stake as well). In addition, a move to collude would almost instantly destroy the value of the staked coin (though maybe not assets tokenized on it), providing another incentive against it.
Then why hasn’t a better blockchain based currency gained any popularity? If they don’t have critical mass then your distinction is meaningless. It turns out there is just zero real world need for an untrusted distributed ledger. Databases and governments solve the problem much better.
Questioning the technical virtues of an alternative product based on lack of critical mass adoption is pretty funny, when you consider we're on the fediverse. I know that doesn't defray your argument, but just an amusing observation.
Two points:
https://www.forbes.com/digital-assets/categories/proof-of-stake-pos/
Etherium and virtually the whole rest of the crypto scene that is "not bitcoin" has pretty soundly rejected the wasteful Bitcoin design. There was even a fork of Bitcoin that would have used the much more efficient proof-of-stake, but since that would be bad for everyone with a proof-of-work "mining" rig it didn't take over.
https://git-scm.com/
An "untrusted distributed ledger" is literally the backbone of modern software development. While you could plausibly split hairs and assert that git requires "trust", I don't think you'd wind up in a spot that both supports your assertion and a cognizable difference for anyone but mathematicians and security nerds. (And even if you did, the exact same sort of non-scam usages of blockchains are ones that operate like git, with the ledger used for something else.)
Blockchain is not synonymous with crypto. Why are you bringing up crypto specifically? Crypto is garbage. But Blockchain is not crypto
People bring up crypto because it is the only use of blockchain that isn't worse than already established methods. And crypto is only "better" because it's unregulated and allowed a bunch of scams to be pulled.