Comment on Please bro
Knock_Knock_Lemmy_In@lemmy.world 1 year agoOh yes. A huge amount of speculation. Just like NVDA.
My point is that you can say a lot of negative things about crypto, but you can’t say it doesn’t work. It definitely works.
It doesn’t work as a currency. It “works” as a speculative investment in that the bubble hasn’t yet popped.
But, what if the bubble doesn’t actually pop, and the prices remain at the current levels, more or less, for another couple of decades. If that happens, will cryptocurrencies be seen to “work”?
I think i made a mistake by using the market cap as evidence that it works, because this just shows people believe it is valuable. Not that it works.
What I mean is that the technology is mature and adopted by a large number of independent users. However, it doesn’t yet have mass adoption because the user experience is not yet seamlessly integrated into legacy systems.
What I mean is that the technology is mature and adopted by a large number of independent users
That doesn’t mean it isn’t a speculative bubble.
it doesn’t yet have mass adoption because the user experience is not yet seamlessly integrated into legacy systems
Or it doesn’t have mass adoption for the same reason that legacy systems don’t accept payment in tulip bulbs.
If you are hung up on value, let’s just consider stablecoins.
The price of a particular token has nothing to with how blockchain works. It works.
MadBigote@lemmy.world 1 year ago
Works, as in what exactly?
Knock_Knock_Lemmy_In@lemmy.world 1 year ago
Works as a publicly shared, immutable, secure database (and small calculation) engine.
MadBigote@lemmy.world 1 year ago
Oh I see. It still consumes a lot of resources, doesn’t It?
Knock_Knock_Lemmy_In@lemmy.world 1 year ago
Yes, Bitcoin uses the electricity of Belgium.
No, Ethereum uses the electricity of a single wind turbine.
Modern blockchains are much less resource intensive.