I read tons of articles debunking the blockchain hype, and the stupidity of waisting CPU cycles and electricity on calculating meaningless hashes; here’s a totally different take on the subject by Avery Pennarun (an update written ten years later).
TL&DR: Bitcoin is a return to gold standard, and people who know more about economy than GPUs and hash functions have figured out that’s a bad idea long time ago.
Two Days Later…
As the heading says, I added this section two days after the blog post was published. I should have expected things to be more complex than they look, and some of the comments definitely gave me much to think about and/or research.
Thanks a million to everyone who took their time to write a thoughtful comment, and for all the useful links you posted.
I also toned down the original blog post a bit ;)