Written from the perspective of someone in a first world country.
Edit: https://www.statista.com/chart/18345/crypto-currency-adoptio...
It's time for us in the tech world to speak out about cryptocurrency
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Re: It's time for us in the tech world to speak out about cryptocurrency
#12It’s hyperbole to say Bitcoin has no social benefit. It, at least, allows individuals to exchange payments between each other online without needing the consent of any private corporation or monopoly. Maybe it’s not the most efficient way of doing it but decentralization has a cost. I think we are all patiently waiting for better alternatives.
Those individuals need the consent of at least two private corporations (whatever entity converts spendable money to Bitcoin and back on either end). Compare that to sending an envelope full of dollars.
Re: It's time for us in the tech world to speak out about cryptocurrency
#13Hacker news is holistically anti cryptocurrency. Which disappoints me.
It has virtues.
As someone who works in applied Cryptography and has also worked for the European Central Bank, we need “crypto”.
1) seigniorage is an abused privilege. Source: US debt ceiling at 27TRN.
2) permissionless money has value, I cannot send more than 5k a day using my bank. I can send any amount using crypto. I also don’t need two utility bills and an address to open an “account”
3) it’s censorship resistant. Govt’s can’t just stop payments or shutdown the network.
Use Monero.
EDIT: downvoted again. I’m not contributing here anymore.
Re: It's time for us in the tech world to speak out about cryptocurrency
#14The tweet storm doesn’t even have arguments to refute.
Re: It's time for us in the tech world to speak out about cryptocurrency
#15Written from the perspective of someone in a first world country. Edit: https://www.statista.com/chart/18345/crypto-currency-adoptio...
What’s the advantage of cryptocurrency over mpesa?
Re: It's time for us in the tech world to speak out about cryptocurrency
#16I don’t understand the constant criticism crypto gets. It isn’t the sort of thing that can be stopped at this point.
If you don’t like it, support better alternatives or create your own. That’s really the only solution here.
I don’t say this to be sarcastic. The train has already left the station.
Re: It's time for us in the tech world to speak out about cryptocurrency
#17It’s hyperbole to say Bitcoin has no social benefit. It, at least, allows individuals to exchange payments between each other online without needing the consent of any private corporation or monopoly. Maybe it’s not the most efficient way of doing it but decentralization has a cost. I think we are all patiently waiting for better alternatives.
>> without needing the consent of any private corporation or monopoly I'd say we all subsidize bitcoin and the likes indirectly and unwillingly through the price hikes in HW directly or indirectly attributed to something of dubious (to put it mildly) tangible value.
Bitcoin mining on anything other than ASICs is fools errand for many years now.
Re: It's time for us in the tech world to speak out about cryptocurrency
#18Hacker news is holistically anti cryptocurrency. Which disappoints me. It has virtues. As someone who works in applied Cryptography and has also worked for the European Central Bank, we need “crypto”. 1) seigniorage is an abused privilege. Source: US debt ceiling at 27TRN. 2) permissionless money has value, I cannot send more than 5k a day using my bank. I can send any amount using crypto. I also don’t need two utili…
> it’s censorship resistant. Govt’s can’t just stop payments or shutdown the network.
If they have a firewall, they could block the majority of exchanges, wallet apps, and even ips of some of the largest mining groups.