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#blockchain
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Web3 is not Decentralisation — it’s a Ploy to put Crypto Bros in Charge | by Ross Stalker | Nov, 2021 | Medium (medium.com)"Imagine if someone were to suggest that all web infrastructure should share the same database. That would rightly be seen as an absurd idea — but that’s what Web3 advocates are essentially suggesting. A blockchain is a distributed append-only database, spread across multiple nodes, but it is still one single database. In the name of decentralisation, Web3 advocates in fact seek to create a new form of centralisation around the blockchain."
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Cryptocurrency is an abject disaster (drewdevault.com)> Cryptocurrency is one of the worst inventions of the 21st century. I am ashamed to share an industry with this exploitative grift. It has failed to be a useful currency, invented a new class of internet abuse, further enriched the rich, wasted staggering amounts of electricity, hastened climate change, ruined hundreds of otherwise promising projects, provided a climate for hundreds of scams to flourish, created shortages and price hikes for consumer hardware, and injected perverse incentives into technology everywhere.
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NFTs: crypto grifters try to scam artists, again – Attack of the 50 Foot Blockchain (davidgerard.co.uk)"NFTs exist so that the crypto grifters can have a new kind of magic bean to sell for actual money, and pretend they’re not selling magic beans."
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Blockchain, the amazing solution for almost nothing - The Correspondent (thecorrespondent.com)"The smartest thing about blockchain, Matt Levine wrote, is that the rest of the world was forced to “pay attention to those back-office technology upgrades, and to think that they might be revolutionary”"
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I feel bad for the voice actor in this #Libra ad having to read these lines with a straight face. https://youtu.be/4zw-jpVFKMY -
Once hailed as unhackable, blockchains are now getting hacked - MIT Technology Review (www.technologyreview.com)"Blockchains are particularly attractive to thieves because fraudulent transactions can’t be reversed as they often can be in the traditional financial system."
