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0 pointsjrm48mo ago0 comments

All pointless.

None of those things require a blockchain and are all made less efficient by doing them that way.

Again, truly decentralized cryptocurrency ADDS slow clunky overhead; that's the price of decentralization. Everything you're imagining is ALL done much easier with good ol' databases et al.

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stale20028mo ago

> ADDS slow clunky overhead; that's the price of decentralization.

Actually, you can just use a federated blockchain.

> Everything you're imagining is ALL done much easier with good ol' databases

There is an ecosystem of 10s of thousands of developers that can run specifically ethereum contracts on a database, while being compatible with all existing stable coin onramps?

You have to show me the 10s of thousands of developers is the point. Thats an ecosystem. It means that you can connect to all of these existing apps and on ramps, and smart contracts and more. There isn't a database version of that.

jrm4OP8mo ago

Yeah, as grumpy op, I should slow down and give your ideas more credit.

Very optimistically -- what you're saying is correct. There is a best case scenario in which Stripe et al observe all of these already working and perhaps popular financial use-case things (perhaps to compete with bigger banks or just because they see/believe it as the future) and encourage adoption.

I'd bet this won't much happen, but I really do hope I'm wrong.

dmbche8mo ago

What are the tens of thousands (?) of devs doings that is more efficient by doing it on a blockchain is the question

Hint: the point of "proof of work" is to do more work than necessary

stale20028mo ago

> that is more efficient by doing it on a blockchain

Well one major thing is what I just brought up that is more efficient thing is the developer experience.

Being able to fork an open source integration that has all of these money and smart contract features built in is much easier than trying to figure out how to design a smart contract system from scratch that doesn't use a blockchain.

utyop228mo ago

Indeed. People don't seem to evaluate the benefits of centralisation do they..

j / k navigate · click thread line to collapse

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stale20028mo ago

> ADDS slow clunky overhead; that's the price of decentralization.

Actually, you can just use a federated blockchain.

> Everything you're imagining is ALL done much easier with good ol' databases

There is an ecosystem of 10s of thousands of developers that can run specifically ethereum contracts on a database, while being compatible with all existing stable coin onramps?

jrm4OP8mo ago

Yeah, as grumpy op, I should slow down and give your ideas more credit.

I'd bet this won't much happen, but I really do hope I'm wrong.

dmbche8mo ago

What are the tens of thousands (?) of devs doings that is more efficient by doing it on a blockchain is the question

Hint: the point of "proof of work" is to do more work than necessary

stale20028mo ago

> that is more efficient by doing it on a blockchain

Well one major thing is what I just brought up that is more efficient thing is the developer experience.

utyop228mo ago

Indeed. People don't seem to evaluate the benefits of centralisation do they..

j / k navigate · click thread line to collapse