PSA: Blockchains are *NOT* decentralized, immutable, permanent, transparent, verifiable, resilient, democratic or fair, or other misused buzzwords. Sure, they can be a couple of those things depending on the blockchain, but not a fundamental property of blockchains, even if they are these are much better accomplished by non-blockchain P2P/cryptographic systems.

This is not "FUD", but to better leverage blockchains we must understand & be educated about its unique properties. Why do you think we get racist ponzis instead of useful apps? I have covered these topics at length over dozens of blog posts.

The *only* unique property of blockchains is strict global consensus - a strictly ordered, objective set of txs in real-ish time. While very limited, this property is extremely valuable for extralegal financial transactions. You probably think I'm a blithering idiot, fair, but there's at least one other person who will tell you something similar: 

https://x.com/VitalikButerin/status/1743040410212053350/photo/1

Continues to be the greatest misconception in the crypto space, and the key reason behind billions of dollars in malinvestment

The *only* thing blockchains are good for is forming strict global consensus

For almost all purported usecases, P2P, CRDTs, or just databases with validity proofs are significantly superior

Quilibrium, the decentralized MPC platform as a service

/quilibrium

Ok, so I’m coming to believe that “crypto” “onchain” etc aren’t right

Crypto is too evocative of cryptography 

I’m much more interested in coordination games, blockchains are just an instance of this

In fact, the crypto part of blockchains are the least innovative part

Blockchains are an instance in a bigger space of adversity tolerant coordination games

Blockchains are an instance in a bigger space of adversity tolerant coordination games

https://warpcast.com/nor/0x03e60c8c

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I think there are many that think we're going to jump to this completely decentralized system from the TradFi system.  That won't happen.

Blockchains are an evolution that can be iteratively better on a few points

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You and @sylve would get along #justproveit

The issue is as soon as you throw “blockchain” in the product it makes it 10x easier to make money. It’s clear 99% of the projects are here for solely that reason.

It’s a bit sad, but I’ve always told myself you can only change what you control

Make crypto cypherphunk again

Isn't that just an ingenuity condition? Such a statement can be made for pretty much anything.

The only thing a pencil is good for . . .

The only thing a deed is good for . . .

The only thing a bank is good for . . .