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Comment on Will AI Startups End Up Like Blockchain Startups?

First of all no technology is the only way to solve a problem, for example Lemmy and Reddit essentially solve the same problem except one is open source decentralized and the other is centralized and closed source. With that in mind, Blockchains solve the decentralized 0-trust validation of tokens, which can be used for anything you might need a token for, e.g. money or proof of ownership. Sure, you can do that in a centralized manner, but the fact that we’re having this discussion over Lemmy instead of Reddit should be enough of a proof to you of why you can’t always rely on centralized solutions. If you have any other technology that solves tokens in a decentralized 0-trust way I would love to hear about it.

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kameecoding@lemmy.world ⁨1⁩ ⁨week⁩ ago
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- Nibodhika@lemmy.world ⁨1⁩ ⁨week⁩ ago
  
  Your arguments are nonsense, just because lemmy is a decentralized social network and better than reddit, that doesn’t mean that blockchain is useful for anything.
  
  No, but it means you recognize the usefulness of decentralized platforms.
  
  In what application do you need 0-trust validation of tokens?
  
  An example would be money but others could be international ownership across, e.g. cars.
  
  Also if you use it for money, what happens when you accidentally send the money to the wrong address? Since it’s decentralized no one has the authority to get that money back to you, do they?
  
  Same thing that happens if you give money to the wrong person. Is that an argument against paper money?
  
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  - kameecoding@lemmy.world ⁨1⁩ ⁨week⁩ ago
    You know you can get your money back if you sent it to the wrong person, right?
    
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    Nibodhika@lemmy.world ⁨1⁩ ⁨week⁩ ago
    
    You know you can get your money back if you sent it to the wrong person, right?
    
    No you can’t, take a 100 bill and throw it out of a tall building, how do you plan on getting it back? That’s the equivalent of sending Bitcoin to a random address.
    
    But even if you give the bill to a random person you can’t get it back, you might forcefully take it, and even if you sue the person and he’s legally forced to give it back to you he’s not forced to. The exact same is true for Bitcoin, no one can revert a paper money transaction.
    
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