←back to thread

Ask HN: Do you still think public blockchains/stablecoins are useless/a scam?

5 points spir | 1 comments | 04 Dec 25 06:25 UTC | HN request time: 0.21s | source

Two and a half years ago I submitted "Warn HN: I've never seen the HN community so delusional about a major tech area" https://news.ycombinator.com/item?id=35172767

Since then, many corporations, governments, Wall St, and central banks have begun adopting public blockchains, especially Ethereum, and stablecoins.

Hacker News has been almost 100% anti-crypto/public blockchains/stablecoins for years.

In light of recent progress, has your view changed?

1. colesantiago ◴[04 Dec 25 06:29 UTC] No.46144434[source]▶
Yes. It is still a scam.

Just because Wall Street and Silicon Valley are still embracing blockchains, 'stablecoins' and other scammy crypto products, doesn't mean it has any legitimate usecase today or in the future.

Crypto, blockchains, stablecoins and the rest of them still cannot do better that what current system already does and is used primarily for speculative and criminal purposes.

Nothing has changed.