this post was submitted on 04 Aug 2024
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35 crypto companies got together to make a change dot org petition called "Bitcoin Deserves an Emoji".

F that

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[–] gerryflap@feddit.nl 39 points 3 months ago (5 children)

No, people just don't like crypto because it's a huge waste of energy that has no use for the average person at the moment and is only used by rich people to get richer without much regulation. Don't get me wrong, it might definitely be useful when used correctly in the future. Not wasting as much energy by ditching proof of work, becoming actually useful for normal transactions, etc. But right now it's just an overhyped technology for obnoxious cryptobros.

[–] Katana314@lemmy.world 9 points 3 months ago (2 children)

I mean...I'll go one further. I know there have been many historical "aged like milk" quotes, like about how much RAM computers need, but I'm still saying this in confidence: I don't think that cryptocurrency or blockchains will ever have a useful purpose. Their design is built to solve societal problems, but introduces worse problems in implementing them. This goes well beyond just taking too much electricity.

[–] iopq@lemmy.world 1 points 3 months ago

They already have a useful purpose. Sending crypto is much easier than sending different currencies into different countries. The services exist, but they are prohibitively expensive if you're sending like $50

Send Monero or something and it's far easier and faster. You can exchange it for your own currency locally or just sit on it.

[–] prole@lemmy.blahaj.zone -1 points 3 months ago* (last edited 3 months ago) (1 children)

Just gonna copy/paste this from someone else's comment in this thread: https://www.reuters.com/technology/california-dmv-puts-42-million-car-titles-blockchain-fight-fraud-2024-07-30/

So... whoops. That didn't take long, huh?

[–] Katana314@lemmy.world 2 points 3 months ago (1 children)

Every time one of these articles is posted, I predict a very very short investigation into the technical workings of the project will find that the same could’ve been done with a much simpler central database. Or, that they were actually using a database at the backend and wasting their whole crypto approach.

[–] prole@lemmy.blahaj.zone -2 points 3 months ago (1 children)

And we all know technology never changes or improves over time. Good catch.

[–] conciselyverbose@sh.itjust.works 2 points 3 months ago

Technology absolutely improves.

But blockchain is worse. And it's not close.

[–] deafboy@lemmy.world 1 points 3 months ago

it might definitely be useful when used correctly in the future

I can almost see the monk smacking an orphan for holding the spoon in the wrong hand :D

[–] prole@lemmy.blahaj.zone -1 points 3 months ago* (last edited 3 months ago)

Bitcoin ≠ cryptocurrency.

Ethereum lowered it's power consumption by over 99% after switching to Proof-of-Stake.

Bitcoin was the first cryptocurrency and we don't even fucking know who came up with it.

How about we don't throw away the possibility of 5.1 Surround Sound Blu-Ray Audio, because wax cylinders sound like shit?

"Computers are cool and all, but they take up entire rooms and only do simple calculations! It's a complete waste of time and money to invest in such a technology!"

^That's you