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25795549 No.25795549 [Reply] [Original]

If the biggest benefit of blockchain technology is that everyone essentially shares a ledger, why can't we just a Cloud system (like Google Drive, etc as examples of the technology) where every party can see and edit things? Why do we need "blockchains"?

>> No.25795826

>>25795549
Because you don't want someone to censor or modify your transaction.

>> No.25795893

>>25795826
fpbp
/thread

>> No.25795985

>>25795826
But that seems like just a tiny bit more programming.
>"ok, so now only x person can make y changes, and f person can make g changes"
There.

>> No.25796383

>>25795985
What if some bad actor makes changes not everyone agrees with? In your cloud system, who decides what changes are acceptable?

>> No.25796457
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25796457

>>25795985
What you are talking about is a centralized system. In a centralized system someone can censor your transaction. The problem is that centralized systems are vulnerable to governments and regulations.

For this reason centralized cryptocurrencies are ultimately worthless. Might aswell just use a database at that point - just like a bank. Look at systems like E-gold, which in the end got shut down. The whole point is that decentralized cryptocurrencies cannot be stopped. And while Bitcoin currently lacks privacy, it's the most secure decentralized cryptocurrency. That said, nothing wrong with speculating in altcoins during a bull market. You can convert them back to Bitcoin when the ratio is high anyway.

>> No.25796798

>>25796383
Not sure. Maybe the majority as the blockchain does? Or an arbiter, which can be good in case you do get scammed.
>>25796457
You seem to be looking at this from a philosophical/anti-censorship POV. I'm wondering why should businesses change to blockchain platforms. The "finality" aspect of blockchains makes it very questionable to me because it seems like if you get scammed then you're screwed. And it seems like you will still need arbiters to ensure that people are honest.