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62% of Funded Blockchain and Web3 Companies Attract Fewer Than 100 Monthly Organic Visitors (guerrillabuzz.com)

submitted 2 months ago by [email protected] to c/[email protected]

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[–] [email protected] 108 points 2 months ago (26 children)

Turns out the one thing Blockchain is good at, building out decentralized strings of commonly agreed upon immutable transactions, is actually not that useful. For small items we need an "undo" button because people make sloppy mistakes or get scammed, for large items we want the government to act as enforcer of the property (house, dollars, car) in question so it doesn't actually help us to decentralize.

[–] [email protected] 4 points 2 months ago* (last edited 2 months ago) (9 children)

And for donations to Wikileaks, we don't want the government to be able to reverse or block them. That's what PayPal did with then before Bitcoin was invented.

I don't think that Bitcoin can or should replace the current system, but it can be an addition for rarer cases.

But yes: Most of the other blockchain stuff is just completely useless and therefore not used.

[–] [email protected] 3 points 2 months ago (8 children)

Crypto actually is really useful for evading the law, yes, and so it's good for donating to underground organizations (or to buy drugs or illegal services)

But that's about the only real use-case as far as I can tell

[–] [email protected] 1 points 2 months ago (1 children)

Alternative monetary systems that allow local communities to create elastic money based on trust or assets.

[–] [email protected] 1 points 2 months ago (1 children)

If you can rally a local community behind you, it's better to look beyond the limitations and negative influences of money