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pixel_of_moral_decay t1_iy4wjue wrote

Reply to comment by Jahooodie in BlockFi (JC registered company) Bankrupt by driftingwood2018

All of a sudden so many people are now claiming they didn’t personally invest in it. They just were interested in the technology.

Morons. All of em.

Blockchain is a legit technology. I can definitely see it having long term applications in some transactions. But investing in it is about as solid as investing in Reddit karma. The difference between those is something too many geniuses can’t figure out.

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new_account_5009 t1_iy5pcar wrote

>Blockchain is a legit technology.

I think you're giving the crypto people too much benefit of the doubt. All blockchain offers is a secure public append-only database. There are precisely zero use cases that aren't better handled with traditional database implementations.

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pixel_of_moral_decay t1_iy5vz6p wrote

There’s lots of applications, mainly that it’s auditable.

And “transaction” doesn’t have to be financial. That can be any interaction of people or systems. Even software licensing.

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Jahooodie t1_iy9c3m7 wrote

One case example I've heard of: Drug APIs or consumer goods input on chain of custody, so in dealing with opaque countries like China there is a publicly acknowledge dispersed ledger resistant to tampering.

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pixel_of_moral_decay t1_iy9zbmm wrote

Yup. There’s a ton of applications for what’s essentially a database with authentication and tamper evidence built in.

Investing in database records with funny names however isn’t one of them.

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