611–620 of 639 posts
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You clearly aren't interested in learning anything, just on "dunking" on cryptocurrencies.
Hmm, where would you get that idea from? https://louwrentius.com/cryptocurrencies-are-detrimental-to-...
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The same is true about the majority of the workings of the internet, or the electrical engineering that built their phones or dozens of other things people use everyday without understanding. How is that relevant in this case?
Because laypeople know what benefit the internet or their phones provide. No layperson knows what the benefit of cryptocurrency is.
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Now compare financial loss from bugs/hackers in smart contracts to financial loss from deception on the part of bankers, brokers, company execs, etc - the exact kind of fraud that's much harder to perpetrate with smart contracts. I'd wager the second number is and always will be orders of magnitude larger. Enron alone was responsible for ~$74bn of loss.
There's plenty of fraud going on with smart contracts and blockchains in general, and everyone knows it. In fact, it offers newer and easier ways to commit fraud. How many ICOs walked away with their investors' money? How many exchange and smart contract 'hacks' were actually insider jobs? Just because crypto currency is a smaller market than traditional finance doesn't mean it's more honest. I'd imagine the % of fra…
A sucker is born every day, this has little to do with the underlying tech though.
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It's pointless to engage this person. They are not operating in good faith.
I disagree- I have many of the same questions this person is asking. And like them, I haven't seen answers that really address the questions. To add another voice: I "get" Bitcoin- I've owned some myself since 2014. I have never been able to "get" Ethereum. Its proponents always talk about "smart contracts" and the like, and how powerful the language is and all of that. Can you provide a real-world, actual example of…
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I've always wondered if someone could make a browser plugin to filter anything involving cryptocurrency out of web sites like HN, /. or reddit? Having to read about all this every day contributes to unnecessary anxieties and stressors some folks don't need.
I really don't see cryptocurrency pop up that often on HN or Reddit. It's usually only when a big event happens, like this post about the most actively used network launching their 2.0 update that's been in the works for the past 3-4 years. I feel like both communities generally do a good job of moderating away inconsequential cryptocurrency posts. Does seeing a fintech post on HN once in a blue moon (and choosing no…
As they say, ignorance is bliss.
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Not at all. From a market perspective, Bitcoin is not scarce in the same sense that gold or diamonds are scarce. If people want to buy into cryptocurrency, Bitcoin is far from their only option. As this whole discussion around Ethereum makes clear, other cryptocurrencies are viable. As I mentioned earlier, other Bitcoins are clearly viable. Yes, the number of Bitcoins in a given fork has a limit, assuming whoever con…
it's like saying gold isn't scarce because there are other metal compounds. you're not making sense at all. if you want to interpret scarcity this way - feel free, but be informed that pretty much everyone else will look at you weird.
I grant that crypocurrency fans will look at me weird, which I'm fine with. But economists (and most others) won't, because they understand that substitutability [1] affects scarcity.
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Nope one was started as a joke and the other one, the founder sold literally his entire holdings at the top of the market for $600/LTC, 8x current price (and ran away to an island somewhere, I assume) years ago, leaving the foundation on the brink of bankruptcy - the bankruptcy claim which to be fair they denied in 2019. Smart man!
Not sure where you get your facts, but Litecoin all-time-high was around $360. The founder, Charlie Lee, stayed and is still a visible and active advocate for litecoin to this day.
I was, however, right about everything else. Lee sold all his coins, made a giant pile of money, the value of the coin collapsed to literally fractions -- and has yet to come anywhere close to a recovery.
If Elon sold 100% of his Tesla shares and "stayed a visible and active advocate for electric cars" I'm not sure you'd be as bullish.
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it's like saying gold isn't scarce because there are other metal compounds. you're not making sense at all. if you want to interpret scarcity this way - feel free, but be informed that pretty much everyone else will look at you weird.
No, it's like saying gold isn't scarce because anybody with a bee in their bonnet can launch "Gold 2.0" and create their own supply. Which is definitely not true for gold, but is demonstrably true for cryptocurrencies. I grant that crypocurrency fans will look at me weird, which I'm fine with. But economists (and most others) won't, because they understand that substitutability [1] affects scarcity. [1] https://en.wi…
There’s an attribute that you can’t substitute - chain difficulty. I’ll let you figure out the rest.
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What you really want is a hardware wallet(trezor) that hooks into metamask. That way you have the usability of the plugin without the risk that it can take all your money
Thanks. Hardware wallets are extremely insecure IMHO: The people who sell them - and many people in their supply-chain! - are handed the very dangerous combination of: A) Being able to hard-code software into the silicon whose source code you will be completely unable to inspect unless you own an electron microscope and a very large amount of knowledge on hardware reverse engineering. What if the hardware forces the…
Who uses it?