Originally Posted by
Mardan
Every use-case for the coins ends up being done better by projects that aren't overencumbered by a blockchain though.
The "instant payments" you speak of can only happen in chains with a ridiculously small userbase, and as soon as it grows a bit you get the bottlenecks we experience every time the market takes a dive, with transactions taking days to clear unless you overpay for it.
The only big chain solutions found so far have been things like Lightning which, again, makes the blockchain completely useless, since it just turns the whole system into a centralized banking hub, but worse.
Not only that, but the processing power needed to keep a blockchain going is enormous, for little to no return. You're spending GWh of energy to send a simple signal to the system, something that would be done instantly and for no cost in a closed banking service.
The only buzzword people seem to care about with crypto is "decentralization", and yet every project that has come forward so far that has managed to be even remotely functional only accomplished that by sacrificing it in favor of a more centralized system.