Ask HN: Blockchain; What Is Happening??

I'm curious and interested in cryptocurrency. I've watched the technology grow for the last 10+ years and I can definitely say that there's something powerful to the idea of truly immutable (except if the planet explodes or something).

With ~$10^12 market cap, it simply hasn't affected my life in any tangible way (other than being another form of gambling).

Let's take ETH as an example. The currency can be used in 2 ways; to transact, or to pay for network features. Both have more and in many respects superior alternatives.

I feel like no one knows what makes this stuff so great. So far, what I see is what is on the surface:

- immutable ledger; check, but at what cost?

- global computer; check, but at what cost?

I don't see a world-changing technology. I see a technology who's purity is at odds with practicality. I see a piece of technology that is only useful if enough participants agree and there is sufficient diversity among them.

What do you see?