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Ask HN: Why does cryptocurrency subjects on HN lack curious conversations?

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Re: Ask HN: Why does cryptocurrency subjects on HN lack curious conversations?

#171

Post by seanmcdirmid »

pcthrowaway wrote: post #167
svennek wrote: post #93

Earlier quoted context omitted.

Sure it oversimplified (most opinions that are somewhat transferable are). I agree with the hope for a better stewardship, but as all people end up moving cryptocurrencies in and out of the "old" financial system (creditcards, swift etc). I fail to see how crypto would help me.. I for one cannot pay for my rent, food, heat, water, power, internet with crypto, can you?

I can't pay my rent in US dollars, that doesn't make them worthless. Although, to be fair, I did pay a security deposit in bitcoin 6 years ago. Actually, in El Salvador, Bitcoin is now the national currency, so I suspect a lot of people are paying their rent in bitcoin

Isn’t El Salvador completely dollarized? It wouldn’t be surprising if most landlords still demanded rent paid in dollars rather than bitcoin (a difference in “the” national currency vs “a” national currency).

Re: Ask HN: Why does cryptocurrency subjects on HN lack curious conversations?

#172

Post by bigbillheck »

onethought wrote: post #15
svennek wrote: post #3

I think basically because there is nothing interesting left to discus. One camp (where I am in) basically believes it is an environmental disaster, unsuitable for its stated purpose and most likely as scam by the "whales" manipulating the price, and with a potential 51%-disaster. The other camp believes that it is the future of money, untraceable wealth storage and inflation/"confiscation proof" and that all the envi…

The environmental argument is a straw man, and not really related to crypto, but actually related to our energy mix. If crypto was mined only on renewables there is no environmental argument. Ergo, not related to crypto technology itself.

Crypto mining is using renewable capacity that could be used for other purposes.

Re: Ask HN: Why does cryptocurrency subjects on HN lack curious conversations?

#173

Post by GPerson »

For me it’s just not very interesting. The people I meet who seem to be interested in it seem to be primarily motivated by getting rich. This is an understandable interest, but just not something which sparks my personal curiosity. And since this initial impression has been constantly stoked for quite a while now, I think I’m naturally more receptive to learning about the downsides, like the absurd environmental impact.

Re: Ask HN: Why does cryptocurrency subjects on HN lack curious conversations?

#174

Post by Ologn »

Applejinx wrote: post #33

I would say it's because people on Hacker News are pretty intelligent. Either they are intelligent and manipulative and are looking to maximize their investments whatever the cost to others, the externalities, whatever… or they are intelligent and accurately perceiving the first type of intelligent person. By now, if you're a techie nerd, to be naive about this topic would mean there's something seriously wrong with…

> You should have picked a side by now as this is not complicated or ambiguous. There is only furthering crypto by any means necessary, or opposing it (increasingly, by any means necessary).

I think crypto coins are as worthless as subprime mortgages, Pets.com type dot com stocks, or any other bubble going back to tulip bulbs. However as I am mostly uninvolved (aside from getting a free cryptocoin drop my friend wanted me to get), it has little effect on me. I find it annoying to see scams discussed, in the same way I don't want to hear an MLM pitch. I want to warn people it is a scam if I see a discussion, out of obligation. Also they say it hurts the environment, which I have not looked at much but suppose it makes sense.

On the other hand, people with large crypto positions or who are invested in mining rigs and who have invested their time and have made large "capital" expenses and whose life is cryptocoins are much more apt to further crypto coins.

It will be interesting to see what happens to the Bitcoin market cap in the next market correction where credit is tightened, stocks go down, margin calls go out etc. This is a game of musical chairs where the music has yet to ever stop.

Re: Ask HN: Why does cryptocurrency subjects on HN lack curious conversations?

#175

Post by OJFord »

svennek wrote: post #3

I think basically because there is nothing interesting left to discus. One camp (where I am in) basically believes it is an environmental disaster, unsuitable for its stated purpose and most likely as scam by the "whales" manipulating the price, and with a potential 51%-disaster. The other camp believes that it is the future of money, untraceable wealth storage and inflation/"confiscation proof" and that all the envi…

I think Ethereum (as in its contracts) is interesting, there's just too much get rich quick fud, SNR too low, for me to confidently be 'actively interested'.

Some kind of novel things could be done with it, like that distributed storage thing is sort of interesting. There's a peer to peer betting thing based on (somewhow the outcomes are available to the program?) it I saw on HN a while ago which is sort of interesting.

Re: Ask HN: Why does cryptocurrency subjects on HN lack curious conversations?

#176

Post by bigbillheck »

What's left to say that hasn't already been said a hundred times before? The NFT stuff was fun for a while (people getting mad at right-clickers and / or not understanding that they weren't buying an image but rather--at best--a link to an image), but I don't think there's much appetite on this forum for laughing at erotic chickens.

Re: Ask HN: Why does cryptocurrency subjects on HN lack curious conversations?

#177

Post by [deleted] »

svennek wrote: post #3

I think basically because there is nothing interesting left to discus. One camp (where I am in) basically believes it is an environmental disaster, unsuitable for its stated purpose and most likely as scam by the "whales" manipulating the price, and with a potential 51%-disaster. The other camp believes that it is the future of money, untraceable wealth storage and inflation/"confiscation proof" and that all the envi…

[deleted]

Re: Ask HN: Why does cryptocurrency subjects on HN lack curious conversations?

#178

Post by pyb »

"the discussions on HN are today ... two camps that are just screaming at each other." Not really... HN has made its mind up, it's become mostly indifferent to crypto. Too many unfulfilled promises over the last decade.

The screaming happens not here but on Twitter.

Re: Ask HN: Why does cryptocurrency subjects on HN lack curious conversations?

#179

Post by tluyben2 »

ykevinator2 wrote: post #154

Because it's not two disinterested parties, it's owners versus mockers. Owners say irrational things because they've drunk the water. It's like asking why don't believers in ressurection ever have curious conversations about the impossibility of ressurection.

It's religion. I find it as useful to explain the flaws of cryptocurrencies to believers as I find discussing the flaws of 'your garden in heaven' with jehova's.

Re: Ask HN: Why does cryptocurrency subjects on HN lack curious conversations?

#180

Post by Viliam1234 »

ykevinator2 wrote: post #154

Because it's not two disinterested parties, it's owners versus mockers. Owners say irrational things because they've drunk the water. It's like asking why don't believers in ressurection ever have curious conversations about the impossibility of ressurection.

This, but in a world where the believers' net worth doubles almost every year.
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