PSA: Blockchain is not the interesting thing about bitcoin

Been talking to a lot of people that are getting distracted by the establishment's "Blockchain not bitcoin!" nonsense.

The blockchain is just an append only, tamper evident database. We've had those forever. The magic of bitcoin is nakamoto consensus, the solution to the byzantine generals problem that uses a network native token to incentivize proof of work. Banks don't need proof of work, they have authority. So they glom on to the only component of bitcoin they could possibly use, a database.

submitted by /u/Polycephal_Lee
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