81–88 of 88 posts
One point of contention re: inflationary vs deflationary currencies: When most Bitcoin proponents I've talked to say that Bitcoin is deflationary, they mean in the context of "bitcoin as exclusive currency". I.e. there are theoretically a finite number of coins, so in a world where they're actually used to buy milk and eggs they theoretically would increase in value over time, ergo deflationary. Unfortunately I find…
"Overwhelming evidence shows..." - the whole article is a great example of many of the tactics journalist employ to manipulate people's opinions.
Anything from the article you'd like to mention then?
For example it is irrelevant that there are many shitcoins and many scammers. What matters is if there are non-shitcoins. Bitcoin seems to be doing well.
In the dot com aera, there were also many scams and bad startups, but I think nobody would want to cite that as proof now that the internet is bad.
Anyone old enough to remember what the press said in the 90s about the Internet will recognize the similarities. The Internet is full of fraudulent websites. It's full of porn. Email isn't as warm as a hand-written letter. Communicating online isn't professional. Etc. Guess what, all those things were true but they turned out not to matter. You can do whatever else you want in a network that also carries porn. You le…
The internet of 1970s solved a problem. Other than "easier to buy drugs than with cash", what problem does bitcoin actually solve?
I don't follow the blockchain world very well, but he makes an interesting point about it. Are there any projects, other than a few cryptocurrencies, that have impacted any industries significantly? I feel like we are all still waiting for blockchain to be adopted by something that makes it really useful.
"the vast majority of whom span the ideological spectrum from the moderately far right to outright Nazis." Honest question, is blockchain now another category in which political affiliation now decides how you are supposed to feel about it? I don't really understand why that would be.
Of the two biggest currencies Bitcoin is kind of associated with right wingers like Nick Szabo who is a bit libertarian / Trump and Ethereum with Buterin who is more democrat / Obama in outlook.
Anyone old enough to remember what the press said in the 90s about the Internet will recognize the similarities. The Internet is full of fraudulent websites. It's full of porn. Email isn't as warm as a hand-written letter. Communicating online isn't professional. Etc. Guess what, all those things were true but they turned out not to matter. You can do whatever else you want in a network that also carries porn. You le…
Internet-in-the-70s was incredibly, astoundingly useful, and people weren't in it for the potential, but because it was offering them something, _today_. I'm not seeing a single BTC enthusiast who's out for the utility of it. They are, quite literally, all of them into it for the speculatory potential.
Right off the bat it shows three bad things about crypto-currency. And yet each of those three have been steadily and consistently improving. But apparently rather than iterating it’s better to just stop? Ah, then the author shows their true colors. “Conspiracy theory”, “nazi”, “right wing”. This is an unserious hit piece meant to bully left-leaning people into sabotaging research and development in the web3 space.
> "the web3 space" Are the Ethereum people still trying to make that moniker stick? Oh dear.
Over the last several years I've come to the realization that most "cryptocurrency is garbage" posts boil down to the author underestimating or ignoring the financial realities of those living in other countries or circumstances. There are those that live in countries with hyperinflation or US sanctions that don't think that cryptocurrency is garbage.
That's an interesting point of view. How are cryptocurrencies being used by citizens in those countries?
[1] https://news.bitcoin.com/report-use-of-cryptocurrencies-for-...