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 was an innovative way to use a blockchain/Merkle path, too. Even if you’d argue money but made in a different, harder to police way is a bad thing, it was new.
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.
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.
You know at a point there will no longer be a block reward for miners, instead only fees on transactions
For Bitcoin, you mean. That will be in 2040 or so. Plenty of time to patch it.
Yeah I assumed we were talking about bitcoin, scarcity argument goes out the window at that point though.