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
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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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Been thinking the whole morning about this thread, I felt seen. Maybe I don't know not the technical details, but I know and understand enough from history, that I can justify my judgement of the whole mess against myself.
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In addition: No other tech is promoted as aggressively as this… And the promotion has never been solving any real world issue. In the end, it's about the money game. Nothing else.
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Replying to @rotnroll666
Fair point. My reaction may be due to the fact that my Twitter bubble has almost only people who aggressively hate that whole space, and maybe I’d have the opposite reaction if I were actually exposed to the positive hype

Jan 6, 2022 · 9:57 AM UTC

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Replying to @stilkov @rotnroll666
There's been some honest and very weighted write ups recently that I liked. I'm very sceptical myself but one of my fav old sayings is: "Information only hurt those who don't have it." seldo.com/posts/crypto-the-g…
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That’s my favorite writeup as of now
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Replying to @stilkov @rotnroll666
The problem is that if you are inside the bubble, folks often don't seem to be connected to other tech communities and industry best practices, this is very strange. The foundation of hands-on technical people in the bubble is also absurdly low.