this post was submitted on 23 Oct 2023
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chapotraphouse

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wait this community has been shilling a meme coin this whole time I thought were were larping as leftists is that shtick over?

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[–] space_comrade@hexbear.net 13 points 1 year ago* (last edited 1 year ago)

It's a novelty in search of a use case.

True, but I think blockchain technology in of itself has use cases. Bitcoin, Ethereum and co. can go ahead and die because they're useless but the underlying technology is essentially a distributed database with built-in transparency mechanisms, meaning it could be used to facilitate for example state bureaucracy. You'd also make looking up and validating info etc way easier. I don't think it's an absolute necessity for a well-functioning state but it could have its uses.

What most cryptobros are peddling unfortunately is not that but rather pyramid schemes.