Blockchains are the new app stores | Hacker News Reader

Blockchains are the new app stores

twitter.com

16 pointstaylorfinley9 comments

The technology makes sense but the narratives behind are mostly false.

This takes advantage of the current millennial sentiment: FIRE, 4HWW, anti-gov/banks, Robinhood - fueled by the tech industry using social media, misinformation, and propaganda.

Be warned, nothing good engenders from lies... even if you make profits, it is at the expense of stealing from others- that is what scamming is, literally.

App stores are the new app stores.

But blockchain seems to be the get-rich-quick scam of the moment.

He's right about the excitement. I've been on the internet since 1991. It does feel like the early 90's, 20's, etc... love or hate crypto, good or bad, things are certainly exciting.

It looks like excitement over a new approach to computer architecture. The ideas behind how it works are interesting, but it's fundamentally incredibly inefficient, and always less efficient than traditional computers. It's only actually well-suited to a handful of applications. The interesting problem it could solve is some flavor of distributed hosting, but people are so hostile to paying for things on the internet, I'm not sure how viable it is. It's not usually viable or interesting to businesses because it's more expensive. But yes, as an academic exercise of toy systems you can port to your platform, it's interesting.

I was excited about crypto ~8 years ago and stopped being excited 5 years ago when one guy from the first wave of crypto scammers tried to bullshit my aunt in the rural Austrian alps.

A lot of what crypto is nowadays is pyramide schemes, scams, speculation, get rich quick schemes and so on. Blockchains that should have been databases, blockchains that should have been a chain of trust in the classical signature sense etc.

What it isn't is a new way to pay all kind of things quickly, easily and anonymously in everyday live.

> pay all kind of things quickly,

By design transactions take an hour to confirm.

> easily

It is easy (except for if you ever misplace your private keys, which I guess is also easy)

> and anonymously in everyday live.

Again by design, it is a public ledger of every persons transactions and bank balances.

> By design transactions take an hour to confirm.

Using bitcoin.

Polygon, BSC, etc... it is seconds... and very very inexpensive (polygon is thousands of a cent).

"Blockchains are virtual computers that run on top of networks of physical computers."

Blockchains require client validation. That means you have to run all the code to be part of the network. There is no virtual computer. Only your own limited computer. This guy sounds like a conman

Chris Dixon also proclaimed that San Francisco would be the new “capital of culture” with Facebook et al. Taking attention away from “old” New York and LA.

He tends to get so excited to the point of sleepless giddy.

Reply on news.ycombinator.com