I'm not even a crypto bro, but it's honestly more exhausting to listen to someone go on about how private backends with user facing storefronts and relational databases solve the same problems as blockchain, than it is to listen to a crypto bro explain why we can't trust companies to manage records in their own relational database.
Just wanted to point out that one of these things necessarily follows the other, and billions have been wasted by people who listened to the cryptocurrency advocates, but failed to heed the warnings offered within those hyper-verbose responses.
There’s a well-established effect, common enough at this point to where some academic has probably given it a name like “The Twitter Dilemma” or something, that describes how a lie can be much more potent and contagious with exponentially fewer words than are necessary to effectively refute it.
You should feel free to ignore the extended retorts if you find them tiresome, but the modern reality is that you will be more likely to fall victim to a huckster’s scheme as a result. In the immortal words of Matt Damon, “Fortune favors the incurious, who like them apples.”
>There’s a well-established effect, common enough at this point to where some academic has probably given it a name like “The Twitter Dilemma” or something, that describes how a lie can be much more potent and contagious with exponentially fewer words than are necessary to effectively refute it.
Amen. The anti-crypto crowd in 2023 are now the more belligerent of the two (since the crypto crowd have largely gone quiet.)
You can ideologically disagree with it's use a money and I could understand that, but decentralized databases could be used nicely to circumvent the steam store 5% marketplace fees. That's value removed consumers wallet and sent to Bellevue at 99.9999% profit.
It's not a technical problem at this point with the low fee + fast transactions + negative carbon DeDBs out there. It's an incentive problem - no game studio wants to give up their cash cow, and consumers are, rightfully, wary of web3. IMO, it's going to be a long climb back for what we now call 'blockchain', but in 5 or 10 years I believe there will be advocacy for SOME data to be (including digital collectibles) free and open. Ironically, I think AI will speed this up as the major platforms throw up higher and higher walls to keep AI out -- people will realize the only options for control of their public facing works is to self host or use some form of decentralized database. That or we all start using github for social media.
That’s exactly what I am saying. It’s not a technical problem, it’s an incentive problem and the entire industry has no incentive to adopt a the technical solution these people are parroting to investors.
