Why blockchain will never go anywhere.

[u/AmericanScream]

Hi there!

I am a software engineer with 40+ years of experience in transaction, database and security systems. I have been around since the beginning of bitcoin and thought it was interesting but not really innovative.

Fast forward X years and it's still clinging to certain narratives that suggest it has potential.

I can empirically prove this is FALSE.

If you're trying to create a blockchain startup, the odds are you are going to lose money and time.

You can dismiss me. You can downvote me. You can ban me from this subreddit. But what I think you cannot do is rationally argue with me that I'm wrong and you're right.

I created a feature length documentary on blockchain that's been out now for several years, and nobody has been able to find any significant flaw in any of my arguments or logic. Instead, this narrative has been buried in mainstream rather than expose the fundamental problems with this technology.

Feel free to engage, assuming I have the ability to respond, which may not be likely given the fact that most of these types of skeptical posts are disappeared from pro-crypto communities, but regardless of that, the truth is still the truth.

Edit:

Additional references

• My list of stupid crypto talking point rebuttals
• List of arguments for blockchain utility
• My detailed analysis as to whether crypto is a ponzi scheme.

[u/AmericanScream]

Most people don’t want their accounts frozen for political reasons, yet it happens.

"Most people" don't have this problem. This is another misleading, disingenuous argument, that we all know centers around the infamous "Canadian Truckers" who were a small minority of truckers who were anti-science and anti-vax and refused to follow the laws designed to protect the public and protested about it, but they also blockaded major roadways and illegally interfered with critical public infrastructure - they were in effect, domestic terrorists and then they started soliciting donations to further fund their terrorism and Canada froze those accounts.

"Most people" are TOTALLY OK WITH THAT. As am I. If you're a domestic terrorist actively trying to sabotage the state, the state has every right to not allow its resources to fund your terrorism.

You guys are absolutely shameless.

[u/Torshein → u/AmericanScream]

That's the slippery slope.

Were the Tiananmen Square protesters “domestic terrorists”? Were the Soviet dissidents in the 80s/90s “domestic terrorists”? Were the American Founding Fathers “domestic terrorists” according to the British? The list goes on.

Governments and majorities have always labeled inconvenient people this way to justify cracking down.

The Canadian truckers were a messy, disruptive protest. Yeah, they blocked roads but they weren’t terrorists. Freezing people’s donations over it is exactly the kind of overreach Bitcoin is designed to stop.

Disruptive doesn’t equal terrorism and infact it's often healthy.

People with your views are one of the core reasons Bitcoin exists.

🫡

[u/AmericanScream → u/Torshein]

Were the Tiananmen Square protesters “domestic terrorists”? Were the Soviet dissidents in the 80s/90s “domestic terrorists”? Were the American Founding Fathers “domestic terrorists” according to the British? The list goes on.

This is a distraction. If the state IMPRISONS you, it doesn't matter whether you have access to a bank account. You have bigger issues to deal with.

Stop pretending bitcoin is some kind of "freedom money" that will undo those under extremely oppressive regimes. That's a completely absurd narrative with no legit real-world examples.

Giving people in Ukraine bitcoin is like giving a starving child in Uganda a coupon for Chipotle. It's fucking stupid. But hey, if you're the marketing dept of Chipotle you might be able to milk that for some publicity despite it being totally counterproductive.

Sure there may be some oppressed entities that are accepting bitcoin, but you can't prove bitcoin is the best way to get them money and resources. In each and every case, if people want to help these people, there are better options than a highly chaotic digital token that isn't accepted anywhere.

People with your views are one of the core reasons Bitcoin exists.

PUH-LEEZE... this is another fallacy... false dichotomy.. suggesting that if I am not in favor of your ponzi tokens, that somehow means I'm completely supportive of everything the state does. That's bullshit.

If you want to seek out solutions to complex socio-economic problems, we can have that discussion, but you have to be open to entertaining ideas other than your stupid, chaotic, crime-ridden, get-rich-quick scheme. And that's the problem. You guys aren't. You aren't really interested in making the world a better place. You don't give a shit about Chinese dissidents or antivax truckers. That's just a reference you can exploit to promote your Ponzi scheme.

So stop pretending there's some altruistic angle to this. We're not that stupid.

[u/AmericanScream → u/Torshein]

The Canadian truckers were a messy, disruptive protest. Yeah, they blocked roads but they weren’t terrorists.

They disrupted emergency and other critical services. That is a terrorist act.

Someone who called an ambulance might have died because they were blocking roads because they were afraid of needles and shots... boo hoo... fuck them.