Comment by tehryanx

4 days ago

hard disagree here. I think crypto currencies are built on hype and bluster and scams, but blockchain as a technology is actually super interesting. There are plenty of cool use cases for an open immutable ledger that aren't scammy.

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tehryanx

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naikrovek  4 days ago

right, because there's no other way to prevent modification. no other way. also it's not possible for a single operator to have 51% of the compute in a blockchain.

both of those are obviously false and both have already happened.

blockchain is stupid. it is insanely inefficient, it burns power solely so you can say that you've burned power. it is stupid beyond belief.

  • somenameforme  4 days ago

    51% attacks, on anything at a large scale, are generally more theoretic than practical. The amount of resources you'd need to invest to achieve that on any large currency are astronomical, and you'd need to just completely wreck everything engaging in widescale fraud (which would be a felony, carried out repeatedly and at scale - and likely fairly easy to tie back to you given the massive resource investment to get here in the first place) to try to recoup your losses.

    The most probable outcome being a rapid fork and rollback as already with e.g. Ethereum over a relatively negligible amount of money relative to what you'd need to get a 51% on Bitcoin. You'd likely end up losing a massive amount of money, as well as look at possibly spending the rest of your life in prison. So the only real purpose in doing so is for attention or trolling, but the costs involved generally preclude this motivation.

  • jajko  4 days ago

    Hard focus on one use case, albeit most famous and has some properties you mention.

    There are other use cases, like it or not. And its popularity - don't blame tools for basic human greed they only allow to be manifested, that's not a smart approach to get anywhere apart from endless complaints how this and that sucks.