<story><title>Blockchain Is Dangerous Nonsense</title><url>https://www.eisfunke.com/article/blockchain-technology.html</url></story><parent_chain><item><author>okintheory</author><text>It seems a bit off to assert that &amp;quot;people feel it is a price worth paying&amp;quot; when almost all purchases online are made with credit cards which have some protections against fraud, and almost none are made with blockchains in comparison. It seems like so far, most people don&amp;#x27;t think it&amp;#x27;s a price worth paying?</text></item><item><author>Grustaf</author><text>I&amp;#x27;m very sceptical of blockchain (though I&amp;#x27;ve been in crypto off and on since 2013) but most of the arguments in this article are non-sensical. For example:&lt;p&gt;&amp;gt; But even if all code was without mistakes, blockchains can’t do anything against threats like scams, fraud, hacking of devices with keys for the blochain or just plain old typos in a coin transfer.&lt;p&gt;I don&amp;#x27;t think protection against human-factor scams and frauds was ever a goal, you certainly never hear it as an argument.&lt;p&gt;&amp;gt; Normally, cases of fraud or mistakes could be rectified or reverted by the bank or similar institutions after a review of the situation by humans. However, in the world of blockchain there is no human supervisory authority.&lt;p&gt;This is a well-known, probably inevitable effect of what is probably the main point of using blockchains. Clearly people feel it is a price worth paying.&lt;p&gt;I do agree that 99% of blockchain usage is pointless at best, but that is really a different question. It &lt;i&gt;can&lt;/i&gt; be used for storing and (slowly) transferring value in a decentralised way, and that is really the main idea.</text></item></parent_chain><comment><author>sakopov</author><text>Blockchain is just a decentralized ledger of transactions. A cryptocurrency is an implementation of digital currency using a blockchain. Blaming blockchain for not having fraud prevention tech is like blaming TCP&amp;#x2F;IP stack for delivering a scam email to your inbox. This is a problem to be solved in a higher layer, which we&amp;#x27;re seemingly nowhere near as we&amp;#x27;re still just trying to get blockchain to scale efficiently.</text></comment>
<story><title>Blockchain Is Dangerous Nonsense</title><url>https://www.eisfunke.com/article/blockchain-technology.html</url></story><parent_chain><item><author>okintheory</author><text>It seems a bit off to assert that &amp;quot;people feel it is a price worth paying&amp;quot; when almost all purchases online are made with credit cards which have some protections against fraud, and almost none are made with blockchains in comparison. It seems like so far, most people don&amp;#x27;t think it&amp;#x27;s a price worth paying?</text></item><item><author>Grustaf</author><text>I&amp;#x27;m very sceptical of blockchain (though I&amp;#x27;ve been in crypto off and on since 2013) but most of the arguments in this article are non-sensical. For example:&lt;p&gt;&amp;gt; But even if all code was without mistakes, blockchains can’t do anything against threats like scams, fraud, hacking of devices with keys for the blochain or just plain old typos in a coin transfer.&lt;p&gt;I don&amp;#x27;t think protection against human-factor scams and frauds was ever a goal, you certainly never hear it as an argument.&lt;p&gt;&amp;gt; Normally, cases of fraud or mistakes could be rectified or reverted by the bank or similar institutions after a review of the situation by humans. However, in the world of blockchain there is no human supervisory authority.&lt;p&gt;This is a well-known, probably inevitable effect of what is probably the main point of using blockchains. Clearly people feel it is a price worth paying.&lt;p&gt;I do agree that 99% of blockchain usage is pointless at best, but that is really a different question. It &lt;i&gt;can&lt;/i&gt; be used for storing and (slowly) transferring value in a decentralised way, and that is really the main idea.</text></item></parent_chain><comment><author>Grustaf</author><text>I was referring to people in crypto. Obviously the general public prefers traditional payment systems because most people have no problem trusting that the banks will do the right thing.</text></comment>