What are the alternatives?
How else can you create decentralized permissionless money (you know, the thing it was created for in the first place, before people got an idea of putting monkey jpegs there)?
this post was submitted on 25 Aug 2025
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There are legitimate use cases but those are so niche that if you do find yourself in a position to resort to them then you have bigger problems to worry about.
Blockchain has been ”the next big thing” for 10+ years without making any real impact outside of cryptocurrency speculation (which is mostly a pyramid scheme). If it had any legitimate use, it would be widely used today.
Why is mining a nessecary part? Is it only to keep the quantity of units in circulation in check? And why is that nessecary? Is there an equivalent fixed amount of USD that is in circulation?
Why can't it just be a ledger of fixed qty where nodes get paid a fee for handling transactions and keeping the blockchain updated instead of proof of busywork? Why does it need to be so wasteful of electricity? Why is it so slow? Will it ever be as fast and cheap as an osko payment? I can (and have) sent $40,000 to another person from my bank account and it took under 10 seconds for them to receive it, even though they bank with a different entity.
If you make more money, then you have a larger share of all the money in circulation. That means, you are devaluating everyone else's savings and pretty much gaining some of their money.
And there's some system where people who have joined through you, somehow also produce to you some small percentage of the money they mine. So, the ones who got in first are getting richer and richer out of others' work.
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