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17 years* (lemmy.blahaj.zone)
submitted 9 months ago by to c/science_memes@mander.xyz
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cross-posted from: https://lemmy.blahaj.zone/post/37913022

https://mastodon.online/@FranckLeroy/109627512801712672

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[–] 19 points 9 months ago (5 children)

Not completely useless. Iranians can use it to bypass the ridiculous number of sanctions western governments arbitrarily threw at them as those neoliberals pat themselves on the back for making the situaton worse. The dollar loses its centralization and I consider that a good thing.

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  • [–] 19 points 9 months ago (4 children)

    This is a big part of it. Its about decentralization. Currently it has a massive environmental impact, but as renewable energy and better cooling technology develops, decentralized cryptocurrencies could be better than fossil fuel invested banks.

    The decentralized nature does mean that sometimes criminals can use it, but some countries will consider you a criminal based on the color of your skin.

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  • [–] 11 points 9 months ago (3 children)

    There are already cryptocurrencies with barely a fraction of the energy use of Bitcoin.

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  • [–] 2 points 9 months ago (1 child)

    Like my Excel spreadsheet!

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  • [–] 2 points 9 months ago

    Well, yeah.

    A blockchain is nothing more really than a database.

    The use case is when I don't want or have a trusted keeper of that data.

    See, if it's your excel spreadsheet, how do I know that you're not going to change the values on it? For some things that doesn't matter - but for things like funds between different parties, etc, that can be a big issue.

    Traditionally this has worked by having a trusted third party - a bank, a court, a escrow company, etc. But all these require lots of effort to have as well, and can be bad actors.

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