Asklemmy

I'd disagree about the blockchain. It doesn't actually provide anything useful and massively wastes resources, because it requires a ton of energy doing useless calculations for a fake token that you just gamble with on the internet. Countries that ban it are immediately placed in an economic advantage because they free up tons of resources to actually go into producing real physical things and not meme coins, which is a big reason why China has largely banned Bitcoin, viewing it as a major burden on their energy infrastructure while contributing nothing real to the economy.

There are a lot of libertarian weirdos in tech who try to push certain technologies solely for ideological reasons. They will tell you how ideological superior the blockchain is for decentralizing things and thus not making you dependent on Uncle Sam. But they don't actually provide any utility to that other than ideology.

The only non-ideological explanation I have ever received is that the blockchain is good because it makes it easier to break the law if the law is unjust. If for example you want to pay someone for something that is wrongfully made illegal to begin with, you can pay them in Bitcoin and get away with it easier.

That to me, however, is a bit of a bizarre argument. Saying that X should be legal because X can be used to break the law makes little coherent sense. Obviously, the law at that point is the problem and is what should be changed. If you have the power to influence what is legal (and thus to actually act upon the question of whether or not something should be legal), then obviously we should choose to get rid of the unjust law, not to legalize Bitcoin. If we do not have the power to influence what is legal, then the conversation is moot anyways.

NFTs were even worse, because nobody has ever made a non-ideological argument for NFTs. They are always justified based on some weird ideological belief about the sanctity of some nebulous "private property" registered on the blockchain. Laughably, blockchain technologies do not have the storage capacity to practically hold entire images, so they just held links to the images, and so many now lead to nowhere because the original servers they were registered with are down.

People often hate me for the fact that I often defend the utility and potential utility of AI and quantum technologies (even if I do agree that companies hype it and push out slop, that does not prove the technologies themselves are entirely a scam). But I have always been a critic of blockchain and the "metaverse," because those were hypecycles which nobody could actually give me a single coherent explanation of how these things might improve human society at all in any material way.

It's worth remembering the hype cycle when it comes to these things.

That's the thing. When you were browsing bitcoin subreddits during the "golden days" it was pretty bizzare to see people talking about how cool it is and thia is the future and all, and to make it viable, you have to use it, like you know... A currency. But then they also made fun of the guy who bought a pizza with his bitcoin. Haha what a loser, he bought. A pizza for 40k no now 100k dollars. We are all holding, right, no one is selling, right guys?? We're all in the same boat.

Motherfucker, it's so obvious that EVERYONE was treating it like a get rich quick scheme.