Stablecoins? The best that you can hope for is that they keep their promise not to crash. And sometimes they do crash and people lose all their value. They’re like having cash, but much, much worse.
The price of a particular token has nothing to with how blockchain works. It works.
Blockchain is just an incredibly inefficient distributed database. Of course the price of a token has nothing to do with an incredibly inefficient distributed database. So what?
Blockchain is just an incredibly inefficient distributed database.
Agreed. Most of the time a traditional database is far cheaper and better performing.
The key innovation of blockchain is that write access is algorithmic, not centrally controlled. This feature is not possible with any other technology.
That doesn’t mean it isn’t a speculative bubble.
Or it doesn’t have mass adoption for the same reason that legacy systems don’t accept payment in tulip bulbs.
If you are hung up on value, let’s just consider stablecoins.
The price of a particular token has nothing to with how blockchain works. It works.
Stablecoins? The best that you can hope for is that they keep their promise not to crash. And sometimes they do crash and people lose all their value. They’re like having cash, but much, much worse.
Blockchain is just an incredibly inefficient distributed database. Of course the price of a token has nothing to do with an incredibly inefficient distributed database. So what?
Agreed. Most of the time a traditional database is far cheaper and better performing.
The key innovation of blockchain is that write access is algorithmic, not centrally controlled. This feature is not possible with any other technology.
What feature is that?
write access is algorithmic, not centrally controlled.
So, it’s a distributed system, big deal?
For specific use cases, yes.