Franck LeroyJan 3, 2023

Exactly 14 years ago , Satoshi Nakamoto designed the most pathetic / inefficient system ever invented by humankind : the blockchain.

Today, it weights 60 000 tons, wastes constantly 10 gigawatts (more than Belgium or Chile) to process less than 7 transactions per second :

Less than a 33 bps modem from 1990.

This could be a joke if it didn't have such gigantic environmental impact, wasn't enabling billion dollars ransomware industry and was not crushing thousands of lives in the process.

Show threadKristoffer LawsonJan 3, 2023
@FranckLeroy it’s also the most immutable data store ever created. And one that isn’t controlled by anyone. I still find that fascinating.
Show threadBen EvansJan 4, 2023

@Setok @FranckLeroy Which is why, of course, when one of the leading Bitcoin developers recently had all of his bitcoins irreversibly stolen (& that in itself raises 1 or 2 tiny questions); that the owners of the leading exchanges all agreed to blacklist his stolen bitcoins & prevent them from being transacted.

So it's still very much controlled, only now instead of regulators and laws protecting you, it's "beg for favours from oligarchs". Sounds fantastic.

Show threadFranck Leroy
@kittylyst @Setok
But what about ... "Code is law"
Jan 4, 2023 at 9:21amWeb