this post was submitted on 14 Sep 2023
1468 points (95.0% liked)
Memes
44124 readers
1676 users here now
Rules:
- Be civil and nice.
- Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
I don't know why you're arguing about Bitcoin being PoW and how bad it is, in think I made it pretty clear that I agree with that...
As I mentioned in another comment, blockchains could replace the stock market and actually improve it. Some chains have transactions that are quick enough that it would be perfectly fine for it (except for automated trading systems, but fuck ATS), transactions would be publically visible instead of the mess that's happening now, no more T+2 delay for the transactions to settle... But crypto is fighting tooth and nail not to be recognized as a security when it's probably the only thing it could be good as... 🙄
Otherwise, as you said, blockchains are a solution in search of a problem to solve 🤷
Doesn't need to be using PoW though.
It would improve the stock market by bringing transparency. Right now you've got transactions happening off market so as to not affect the price of stocks by creating a huge spike in demand and the only way you'll know something happened is by paying to have access to level 2 data or by trying to cross reference the big moves that need to be declared by major investors.
Not all blockchains need to me anonymous either, one used for that purpose could be centralized with users needing to be registered with the authority that has control over the chain.