Not defending Tesla at all, but just saying most older designs of cars look so much better than their modern versions. I don’t know why we can’t go back to some of them, at least exterior body wise. Sort of unrelated but I’d love to remove screens from cars as well.
I share your opinion, cars have gotten uglier. Also the “future-cars” they had in science fiction in the 60s / 70s, depicting cars in the aughts and beyond, looked much better, then what we got.
The Blockchain is amazingly useful, that’s why the establishment did their best to make sure people associate with incels and little monkey pictures to ruin its credibility. A banking system running on Blockchain is one where the Pentagon can’t lose trillions of dollars annually.
All your points are about an obsolete idea of Bitcoin, a PoW public blockchain. A PoS private blockchain with private keys not handled by the users would invalidate your entire list.
You mean PoS, which feature is literally that the more you have, the more you can stake, and the more you can earn in return? So basically the system that has built-in wealth concentration?
Yes, but if we are talking about a private permissioned blockchain, there’s no need to obtain returns from staking. It can be even a Proof of Authority tokenless network for what banking care.
Banks are already paying for servers to process and store information. A few validators or collators (quite cheap for a private network) provided by several banks would cost a fraction of what they pay now and they’ll keep owning the data, they could reverse transactions, be covered by several layers of public encryption, guard the user’s wallet/login, etc.
Don’t mix blockchain with the speculative world built on top of it. That’s only an unfortunate use of the technology.
Banks are already paying for servers to process and store information.
Yes
A few validators or collators (quite cheap for a private network) provided by several banks would cost a fraction of what they pay now
How? They’d be doing extra compute work for no reason (validating already valid transactions), and storing extra data (lots of hashes) for no reason, so it can only make infra costs more expensive. Plus the added complexity meaning you have to hire an extra team just to understand it.
Don’t mix blockchain with the speculative world built on top of it. That’s only an unfortunate use of the technology.
That speculative world as shitty as it is, is the only proven use case of the technology, if you take that away then blockchains are even less useful
The PoS option was to highlight that power consumption doesn’t have to be an issue. Of course, PoS has its own issues.
The network can use any other type of proof, like Proof of Authority where only a buch of validators owned by the banking system can process the transactions. The network can be even tokenless, no profit or incentives from it, just the secure architecture.
You make a good point that PoS would solve one of the issues I raised which is electricity usage.
In theory it could also increase throughput and reduce costs, but: a) in practice that hasn’t happened yet despite years of development, b) it’s never going to be as efficient as a centralised system because of the extra overheads necessary to decentralise it, so that point still stands
All my other points still stand as well, plus the additional problems PoS creates to do with centralisation of power
The keyword is “private.” The redundant system all the banks maintain can be reduced to a private, permissioned blockchain, creating a network for the banking system to handle their own transactions in addition to a seamless inter-bank communication.
I doubt a network for just one bank can be that useful compared to the current situation.
Also, I’d say that every bank has (had?) a team researching the blockchain.
payments/transfers would be both much slower AND much more expensive than via a bank
Not necessarily. You could have a federated system, where only big players like banks participate in larger blockchain, like banks already do with forex and wire transfers and pay ridiculous fees to clearing agencies, and clear out local transfers locally, possibly inside their own smaller and much faster blockchain.
Just to elaborate here. You are describing one implementation of a blockchain that provides a cryptocurrency. Blockchain is literally just another form of a database. It’s just that it can contain traits that would allow the database to be shared and distributed unlike typical databases. Currently there are some companies that are utilizing blockchain for their inventory systems. They aren’t using any more energy than they would with a typical system. They are just doing it to keep an unchanging record of past transactions which helps with fraud and loss prevention.
P.S. Money laundering using a system that is publicly distributed and has every transaction involving usd paired with an ID, social security number and enough pictures of your face to make a 3D model is genuinely idiotic.
Bitcoin only consumes the energy people put in it. It literaly would adjust to only consume 20W if that’s what was available. But that also means it can absord an infinite amount of excess energy if necessary
which Blockchain are we talking here? How does it compare to the current banking infrastructure?
again, which one? How does it compare to the current pricing?
escrow is a thing, someone can build up a PayPal equivalent on top of a Blockchain, the list goes on
the current system doesn’t do great here, some Blockchains makes it way more traceable, in fact
skill issue, but also solvable with a PayPal equivalent
not a fact, what does this even mean?
does it?
You could say the Linux kernel is an astronomically terrible idea because it doesn’t do anything…but it is just the platform, the good comes from what people build on top of it that add all these quality of life features you miss
You seem to have conflated blockchain technology with cryptocurrency. Most cryptocurrencies use blockchain technology, but that’s not it’s only use case. Literally every problem you have listed relates to crypto and not blockchain itself. Blockchain is just a ledger of transactions. A private company using it to say, keep track of their inventory, or track their payments, or use it for document control, can implement it however they want.
Ok so firstly you’re not the OP I was replying to, so neither of us know for certain whether they were talking about replacing the banking system with a decentralised currency vs keeping the existing centralised private banks and just having them use a blockchain as their database. I assumed the former because of their wording (“replace the banking system”), and because the latter offers no advantages that I know of.
Secondly if you think a blockchain would offer some advantages over other more efficient write only databases, I’d be interested to know what those are, because to me if you’re not running a decentralised system then you’re only getting the downsides of blockchain (such as it being single threaded, slow, and space inefficient) without any of the upsides.
For some background, I’m well aware of how both blockchains and crypto work, having been obsessed with them for a little while in 5 or 6 years ago like many of us were before becoming disillusioned. I’ve also got professional experience as a developer on both immutable databases and banking ledgers.
It's Elon, he has no guard rails, so we don't need to have them either.
He's an idiot who overpaid for a social platform that he then proceeded to destroy.
Violins make sound by dragging the bow (stretched horse hair) over a string, causing the string to vibrate. At the micro level, the bow pulls the string to one side using friction, until the tension on the string pulls it back - this happens hundreds of times per second, and forms the basis of the sound we hear. Horse hair is slippery by default. To create the necessary tension violinists apply a small amount of solidified tree resin by wiping a piece along the length of the bow. This piece of hardened resin has the same approximate texture as glass or hard candy, and is called rosin.
No. It comes in pucks or small blocks and you simply draw the bow across it or pass the rosin up and down the length of the bow a few times and that’s usually enough. Too much rosin can gum up the bow.
Originally? Probably lack of options. These days the aim of the game is sounding “like a violin”, so naturally there’s very little innovation in violin technology.
The Tesla definitely has big, “Oh god, what the fuck? Why?” energy.
I remember in the 90s, upper-middle class people would buy the most god awful stuff because it was sold to them as expensive modern art. (Think Lydia’s parents in Beetlejuice)
The cybertruck has that same vibe. Its stupid and expensive and somehow that seems to be the appeal.
the United States expanded the geographic scope of its actions beyond traditional area of operations, Central America and the Caribbean. Significant operations included the United States and United Kingdom–planned 1953 Iranian coup d’état, the 1961 Bay of Pigs Invasion targeting Cuba, and support for the overthrow of Sukarno by General Suharto in Indonesia. In addition, the U.S. has interfered in the national elections of countries, including Italy in 1948,[1] the Philippines in 1953, Japan in the 1950s and 1960s[2][3] Lebanon in 1957,[4] and Russia in 1996.[5] According to one study, the U.S. performed at least 81 overt and covert known interventions in foreign elections during the period 1946–2000.[6] According to another study, the U.S. engaged in 64 covert and six overt attempts at regime change during the Cold War.
Neither of those countries returned to a feudal system. Where are the nobles, with entrenched legal privileges, with titles passed down on a hereditary basis, commanding their own armies? What a ridiculous claim.
There are other monarchies in the world today that do hold political power. That doesn’t mean that they’re governing over a feudal system. The noble system I described is one of the defining characteristics of feudalism.
Okay, in the oversimplified graphic of the meme, I was including absolute monarchy under feudalism, since I thought it was closer to that than capitalism.
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