SUBSIM Radio Room Forums - Cryptocurrencies demystified: thats it for the blockchain

The technology cannot keep the promises its followers spread.

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However, with the example of Bitcoin, you could learn how theory and reality fall apart. Bigger, more powerful computers can of course count faster. And although both theoretically and factually everyone can participate in Bitcoin, always loses the private laptop with a small processor against the high-performance computer.

So history is written by those who can afford it. While there may not be a predefined steering center, the stronger will win. So that in the example of Bitcoin no regulatory authority such as a bank intervenes and theoretically a consistent equal treatment is defined, makes not all participants even equal. From the idea of technically neutral mediated transactions is virtually nothing left.

Ultimately, the hype surrounding Blockchain fueled a comprehensible desire to depict and thereby relieve trust and negotiation in a purely technical way - by replacing it with a reliance on mathematical evidence. The question of power is obviously not solved, but only postponed. Ultimately, it is even cemented in the premodern state of the law of the fittest.

Obviously, in the case of Bitcoin, the blockchain failed in the self-imposed task of preventing centers of power and attack points. But there is not much left of the myth of the Blockchain, if apart from a few pilot projects and many advertising brochures from the actual ideas can not be transformed into a disruptive or at least useful practice. So it's time to break into new ideas.

Source: https://www.faz.net/aktuell/feuillet...-15932936.html

Myself, I was intereste din the bliocchain tehcnology as a security tehcnology, the cryptocreency aspect did not inteest me a bit: its worthless forged paper money without paper, and it costs hilrious amounts of electricty to artifically create its - unreal - relevance.