this post was submitted on 02 Feb 2026
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sigh
Once again:
Blockchain is not synonymous with cryptomining
Blockchain does not require proof of work
Cryptocurrency and NFT grifting does not devalue blockchain as an immutable distributed ledger
I swear to god people just copy paste whatever makes them feel good without any effort at understanding
Shut up shut up shut up shut up shut up
Don't ruin a good thing we've got going on here
First my buy order at 100K CAD just missed executing before the bottom bounce, now this?
What can I say? I woke up this morning and chose violence 🤷♀️
True... But Satoshi did invent Bitcoin, which is proof of work, and is everything in OP
~~Except it says blockchain in the toot?~~
This is a good comment that makes all good points. But I just wanna say let's stop saying "blockchain" singular and with no preceding article like we're tech CEOs and it's some immutable god. They're blockchains, plural, like any other data structure there can be more than one and there are. eg The blockchain of ethereum is distinct from the blockchain for bitcoin but they are both blockchains.
Valid point! But then how do you refer to the data structure/architecture/model concept? Sometimes we want a concise term (like bittorrent or ActivityPub) for the abstraction
It's a novel data structure, we can refer to it like we do other data structures: Linked lists, hash tables, primitives. The branded implementation of these things is what we typically make singular: Bitcoin, ethereum, monero (bittorrent, activitypub...)
Bittorrent implements a torrent swarm, activitypub implements a federated social network.
Why do you think LLMs are so popular?
Immutable so long as no one party or group owns more than half of the coins on a given blockchain... then the ledger is whatever they say it is and it propagates down because they can manufacture their own "consensus".
https://www.investopedia.com/terms/1/51-attack.asp
and most use cases around things like "smart contracts" end up still requiring a trusted third party at some point
https://pluralistic.net/2022/01/30/the-inevitability-of-trusted-third-parties/
It's not 51% of the coins, it's 51% of the computing power on the network. Both of which are virtually impossible in the case of Bitcoin, though not entirely impossible. I just wouldn't consider a 51% attack even remotely a threat to the network compared to something like government crackdown
That's PoW. With PoS, it is coin ownership.
Which is much more distributed than computing power.
Correct, and this post is about Bitcoin, which is PoW.
No, the community controls the consensus through their nodes. A 51% attack only allows the attacker to perform:
In the event of a 51% attack the community can fork the chain - change the consensus and implement preventive measures like changing the mining algorithm, changing to PoW/PoS, banning all of the attackers coins, implementing a finality layer or a checkpoiting system etc.
The only alternative to proof of work is proof of stake. And if the world ever ran on proof of stake crypto, it would make today’s wealth inequality look like a Marxist paradise.
There's other alternatives. But PoS does not reward just by ownership either.
Check out Gnosis, especially Circles, which is creating a UBI type thing.
Then why hasn’t a better blockchain based currency gained any popularity? If they don’t have critical mass then your distinction is meaningless. It turns out there is just zero real world need for an untrusted distributed ledger. Databases and governments solve the problem much better.
Questioning the technical virtues of an alternative product based on lack of critical mass adoption is pretty funny, when you consider we're on the fediverse. I know that doesn't defray your argument, but just an amusing observation.
Two points:
https://www.forbes.com/digital-assets/categories/proof-of-stake-pos/
Etherium and virtually the whole rest of the crypto scene that is "not bitcoin" has pretty soundly rejected the wasteful Bitcoin design. There was even a fork of Bitcoin that would have used the much more efficient proof-of-stake, but since that would be bad for everyone with a proof-of-work "mining" rig it didn't take over.
https://git-scm.com/
An "untrusted distributed ledger" is literally the backbone of modern software development. While you could plausibly split hairs and assert that git requires "trust", I don't think you'd wind up in a spot that both supports your assertion and a cognizable difference for anyone but mathematicians and security nerds. (And even if you did, the exact same sort of non-scam usages of blockchains are ones that operate like git, with the ledger used for something else.)
Blockchain is not synonymous with crypto. Why are you bringing up crypto specifically? Crypto is garbage. But Blockchain is not crypto
People bring up crypto because it is the only use of blockchain that isn't worse than already established methods. And crypto is only "better" because it's unregulated and allowed a bunch of scams to be pulled.
Cryptocurrency development makes a whole bunch of arbitrary value-guided decisions during creation, all of these decisions have tradeoffs such that nobody has figured out a way to feature them all at the same time, or would they want to.
For example, bitcoin is fully auditable. Anyone with a copy of the bitcoin blockchain can review every single transaction in bitcoin's history, and trace the flow of every last satoshi from it's mining to today. This is because the developers of bitcoin place a high value on verifiable auditability and security. Conversely monero was developed for the purpose of being a completely untraceable, unauditable currency that still has a knowable supply. And ethereum was created in a manner that intentionally supported scripting, so that it could be used as a platform for novel applications and contracts. None of these primary features could be ported to either of the other two without breaking them completely, because of the deep programmatic implications of the requirements.
It's not really a question of better or worse, but of use case. The fact of the matter is that the reason these three examples are the leading currencies for their use case is literally because nobody has yet been able to do a better job. And for bitcoin at least, at this point it's security rests just as much in it's wide adoption and interest as it's design intent, so it's unlikely that anyone ever will.