Imagine, if you will, a blockchain interface, where the container the user interacts with is a bank-like system, and the blockchain account password is tied into the “bank” account itself. The user would then be able to interact with it in a mostly familiar and secure way, and though it wouldn’t eliminate scams, it would certainly reduce them.
Now obviously there’s a lot of “if, and’s or but’s” with what I just said as a “top-of-my-head” concept, but if you’ve ever worked in systems engineering, you’d understand that you start with a high-level concept that’s meant to play to a technology’s andantages, and keep working through the issues in the design process, either by working in existant technology that can mitigate issues, or designing to systemicallt avoid those issues.
My point is, blockchain’s strict security could be considered a massive advantage, but it never got the benefit of tech firms to look at it objectively and figure out a way to work with that in a rational manner, because of how quickly it became a super-hypey technology. And I 100% blame Silicon Valley tech bros for that.
Cryptocurrency is basically like digital cash. No one can control how you spend it, or take it away. But you can’t undo transactions without tracking down the recipient, and getting them to give it back. If you don’t trust anyone, cash and crypto are the only real ways to pay for stuff.
Well, it does in some economies, but not the ones that cryptocurrency advocates actually choose to live in. If you live in Menlo Park or Toronto or Phoenix or Dublin, you live in conditions that would not be possible without a stable “real money” economy.
This is exactly the same thing as cash. If you buy a major currency, like usd, euro, bitcoin, ethereum, etc, then it will be much more stable than some random currency. Would you trust a cash currency that was created by some random dude in an alleyway?
But does it though? A blockchain is the ultimate zero tolerance policy. Lost your password? Grandma gave the house to a scammer? Too fucking bad
Imagine, if you will, a blockchain interface, where the container the user interacts with is a bank-like system, and the blockchain account password is tied into the “bank” account itself. The user would then be able to interact with it in a mostly familiar and secure way, and though it wouldn’t eliminate scams, it would certainly reduce them.
Now obviously there’s a lot of “if, and’s or but’s” with what I just said as a “top-of-my-head” concept, but if you’ve ever worked in systems engineering, you’d understand that you start with a high-level concept that’s meant to play to a technology’s andantages, and keep working through the issues in the design process, either by working in existant technology that can mitigate issues, or designing to systemicallt avoid those issues.
My point is, blockchain’s strict security could be considered a massive advantage, but it never got the benefit of tech firms to look at it objectively and figure out a way to work with that in a rational manner, because of how quickly it became a super-hypey technology. And I 100% blame Silicon Valley tech bros for that.
Cryptocurrency is basically like digital cash. No one can control how you spend it, or take it away. But you can’t undo transactions without tracking down the recipient, and getting them to give it back. If you don’t trust anyone, cash and crypto are the only real ways to pay for stuff.
Cash doesn’t leave you holding worthless numbers when the founders cut and run.
Well, it does in some economies, but not the ones that cryptocurrency advocates actually choose to live in. If you live in Menlo Park or Toronto or Phoenix or Dublin, you live in conditions that would not be possible without a stable “real money” economy.
This is exactly the same thing as cash. If you buy a major currency, like usd, euro, bitcoin, ethereum, etc, then it will be much more stable than some random currency. Would you trust a cash currency that was created by some random dude in an alleyway?