Hello,
I have been researching about blockchains and stuff and it all seems like a big scam. It’s not sustainable and can be replaced by a simple database.
is there any legitimate use cases of blockchains or it is all just a big scam?
Hello,
I have been researching about blockchains and stuff and it all seems like a big scam. It’s not sustainable and can be replaced by a simple database.
is there any legitimate use cases of blockchains or it is all just a big scam?
It’s really clever. I also think it was unintentional. They did not want to create a money laundering tool but a currency in its own right. That failed.
Also, this scheme only works with money involved. The miners run the system, and they get paid by creating new coins. If they cannot sell the coins to cover their costs, then there is no blockchain.
You know at a point there will no longer be a block reward for miners, instead only fees on transactions
Sort of? Satoshi had anti-government objectives for sure, although you’re right that Bitcoin was supposed to be usable for small and everyday transactions as well.