41–50 of 229 posts
I was wondering if these developers have any ethical concerns about the environmental impact they are responsible for by developing a technology which I can categorize with a single world: ABSURDITY!
There is no such thing as unethical technology.
bitcoin appears to have just become another asset that rich people on wall street are hoarding with no real attention or interest in the actual payment mechanism at all. it might as well just be some trading cards being shuffled around.
Which is a shame, as the technology always has been as impressive as claimed. There was for a long while talk of whether or not the blockchain would ultimately be adopted for state currencies going forward but it's not clear that this is even an ideal use case. As an example, I would personally view it as a good thing (and I know others have different views on this) that the government for tax and law enforcement pur…
I actually think it might be interesting for something like voting. Here having a completely public, verifiable record would add a lot to what is currently a very opaque system in a lot of places.
I don’t understand Bitcoin. If I make bread and you grow potatoes, we can barter, but it’s much easier to use some intermediary to track the value that we exchanged. The intermediary facilitates this with tokens (coins, notes, cards.) Bitcoin seems perverse. It puts all the value in the tokens themselves and at the same time I can’t even use it to buy bread or potatoes. About the only thing I hear that you can buy wi…
I don’t understand Bitcoin. If I make bread and you grow potatoes, we can barter, but it’s much easier to use some intermediary to track the value that we exchanged. The intermediary facilitates this with tokens (coins, notes, cards.) Bitcoin seems perverse. It puts all the value in the tokens themselves and at the same time I can’t even use it to buy bread or potatoes. About the only thing I hear that you can buy wi…
now that we have databases, the number values will slowly become less relevant, and direct information references will come into play.
I cannot recommend enough for everyone who has a minimal sensibility towards the climate impact to read this thread: https://twitter.com/smdiehl/status/1350869944888664064 . Since we are inevitable heading over to a climate catastrophe it's really the time to advocate against bitcoin.
It’s also a good time to explore the tether bubble: https://link.medium.com/Wsf1ZmBT7cb
bitcoin appears to have just become another asset that rich people on wall street are hoarding with no real attention or interest in the actual payment mechanism at all. it might as well just be some trading cards being shuffled around.
But it looks like bitcoin can still be very useful as an alternative settlement layer for international payments. Either directly for large payments, or under the hood for something like Strike[3].
[1] https://ycharts.com/indicators/bitcoin_average_transaction_f...
[2] https://bitcoinvisuals.com/ln-capacity
[3] https://jimmymow.medium.com/announcing-strike-global-2392b90...
Earlier quoted context omitted.
Even that is an extremely charitable interpretation. From what I can tell, Bitcoin seems largely to be an engine for fraud: fake value is injected into the system via dollar-pegged tokens like Tether, retail "investors" pile in to chase rising asset prices, and then the bottom drops out, amidst "liquidity issues" at major exchanges which prevent people from pulling out at the top. Or at least that is what happened in…
PayPal will be supporting BTC payments soon. BlackRock just announced providing exposure to BTC in some of their funds very soon.
Earlier quoted context omitted.
Probably still less wasteful than the system it is replacing. Tanks / Fighter jets / drones take more resources.
What do you think is protecting the electricity fuels it depends on?
I don’t understand Bitcoin. If I make bread and you grow potatoes, we can barter, but it’s much easier to use some intermediary to track the value that we exchanged. The intermediary facilitates this with tokens (coins, notes, cards.) Bitcoin seems perverse. It puts all the value in the tokens themselves and at the same time I can’t even use it to buy bread or potatoes. About the only thing I hear that you can buy wi…
Read Debt by Graeber so you can stop believing in the myth of barter. Then think again.
digital technology only makes barter more easy and accessible.
converting every trade into numbers and back is an outmoded method, which i think will become less used with time.
I cannot recommend enough for everyone who has a minimal sensibility towards the climate impact to read this thread: https://twitter.com/smdiehl/status/1350869944888664064 . Since we are inevitable heading over to a climate catastrophe it's really the time to advocate against bitcoin.