I understand the justified criticism of the many dishonest and politically questionable things associated with cryptocurrencies and NFTs. But I don’t remember seeing such a complete dismissal of any tech in this industry before, and I can’t help but feel that’s unjustified

Jan 5, 2022 · 8:00 PM UTC

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Sure, there are few use cases, there are many scams, and of course there’s the very questionable energy consumption of the PoW chains. But there are lots of smart folks trying to build legit use cases, using something else than PoW, trying to honestly innovate.
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Many of those orgs are in the same league as your typical ML startup. They may fail, but they’re not all “evil”, and they’re not all stupid. Dismissing everything and everyone uniformly seems just wrong to me.
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Blockchains and smart contracts are technologies with very limited applicability right now. There are good and bad implementations of both platforms and applications. People trying to improve that might succeed, or they might not. (FTR, I’m not one of them.) Time will tell.
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Even the much derided PoW chains have one thing in their favor: They actually work in terms of meeting requirements in terms of not having to trust any single entity, although I’m happy to admit it’s highly questionable whether they do so at a justifiable cost. But they work.
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Admittedly, it’s much easier to just call everyone an idiot or a scammer, and it’s sure going to get you more applause. With some superficial knowledge of how stuff works, you get bonus points for being a socially responsible, critical tech guru, so if that’s your thing …
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Replying to @stilkov
Think of it in terms of opportunity cost. If all those intelligent people did something useful instead.
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You mean like surveillance tech or ads or unethical ML apps?
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Replying to @stilkov
A lot of it is fatigue. This is *after* the bitcoin hypetrain, the altcoin hypetrain, the blockchain hypetrain, and the smart contract hypetrain, none of which lived up to a fraction of their promises. At some point, it just feels like people hunting for the next GRQ scheme
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Replying to @stilkov
From my point of view, it is unjustified. From my person, my rage comes from the ideas behind. Bitcoin alone was .. "inspiring" the train later on is ... horrible and mankind shows it's egoisms
Replying to @stilkov
It's not the tech, it's how is applied and how it impacts us all whether we're involved or not.
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