> Git gives you pretty much everything offered by the business case for blockchains. The one thing it doesn’t do is add a ridiculously wasteful proof-of-work mechanism for who’s allowed to add transactions to the <del>blockchain</del> repository. Multiple examples of actually useful software branded “blockchain” turn out to be simplified versions of Git.
> Git was released in 2005, four years before Bitcoin — none of the good ideas in blockchains are new, and none of the new ideas have turned out to be much good.
Yes, they are a new kind of scam, a good name suggested is Nakamoto Scheme.
https://prestonbyrne.com/2017/12/08/bitcoin_ponzi/
Also notable: https://davidgerard.co.uk/blockchain/2018/04/05/debunking-bu... which doesn't outright call it a scam but certainly points out
> Git gives you pretty much everything offered by the business case for blockchains. The one thing it doesn’t do is add a ridiculously wasteful proof-of-work mechanism for who’s allowed to add transactions to the <del>blockchain</del> repository. Multiple examples of actually useful software branded “blockchain” turn out to be simplified versions of Git.
> Git was released in 2005, four years before Bitcoin — none of the good ideas in blockchains are new, and none of the new ideas have turned out to be much good.