61–70 of 184 posts
moral panic has never helped anyone. appeals to authority and banning peoples jobs and hobbies wont get anyone on your side. prove your way is better, we'll keep building ours too.
This is some of the worst junk writing I've seen on the hill. Some pretty wrong things in here, like insinuating that the only value of crypto is to criminals, and all but saying that the reason there are hackings to things like critical infrastructure is because crypto exists, which is just silly. Then it flags bitcoin as an environmental hazard, though estimates seem to be ~50-70% of BTC energy use is from renewabl…
Here is a brilliant idea...What if all of that renewable energy was...not wasted on crypto?
This is some of the worst junk writing I've seen on the hill. Some pretty wrong things in here, like insinuating that the only value of crypto is to criminals, and all but saying that the reason there are hackings to things like critical infrastructure is because crypto exists, which is just silly. Then it flags bitcoin as an environmental hazard, though estimates seem to be ~50-70% of BTC energy use is from renewabl…
> though estimates seem to be ~50-70% of BTC energy use is from renewables Bullshit. When one coal mine in a remote region of China flooded, the Bitcoin hash rate measurably dropped by 30%. Keep in mind this was just one coal mine. Not all of China's production. https://fortune.com/2021/04/20/bitcoin-mining-coal-china-env... > it's more apt to call it Web 3.0 than cryptocurrency at this point. I've said this so many…
If governments simply allowed cryptocurrencies to exist outside of any regulation except the obligation to pay taxes on transactions and gains, eventually participation would decline as users of the currencies lost their money to scams or mismanagement, in the absence of a state interest in protecting participants.
If the system is designed to resist state intervention, maybe letting it run as designed, and suffer the consequences, is the best approach. There's no need to regulate it out of existence just because it serves no apparent purpose. This is one case where the market will sort that out if we let it.
This is some of the worst junk writing I've seen on the hill. Some pretty wrong things in here, like insinuating that the only value of crypto is to criminals, and all but saying that the reason there are hackings to things like critical infrastructure is because crypto exists, which is just silly. Then it flags bitcoin as an environmental hazard, though estimates seem to be ~50-70% of BTC energy use is from renewabl…
Most of the use-cases don't even especially benefit from decentralization. The main reason they have blockchains and coins is so the project founders can cash out the moment they release a mainnet (thus getting paid by the fans they hype up.)
Look at dfinity (ICP) for a recent example. First week or two it was selling for as high as $600ish and as low as almost $150. Now it goes for $44. Someone is always holding the founders' bag - their newfound cash came from somewhere!
EDIT: upon googling, it appears dfinity is getting sued for this potential pump and dump
This is some of the worst junk writing I've seen on the hill. Some pretty wrong things in here, like insinuating that the only value of crypto is to criminals, and all but saying that the reason there are hackings to things like critical infrastructure is because crypto exists, which is just silly. Then it flags bitcoin as an environmental hazard, though estimates seem to be ~50-70% of BTC energy use is from renewabl…
> though estimates seem to be ~50-70% of BTC energy use is from renewables Bullshit. When one coal mine in a remote region of China flooded, the Bitcoin hash rate measurably dropped by 30%. Keep in mind this was just one coal mine. Not all of China's production. https://fortune.com/2021/04/20/bitcoin-mining-coal-china-env... > it's more apt to call it Web 3.0 than cryptocurrency at this point. I've said this so many…
I think with the amount of activity on AAVE and yearn, plus the growth these projects have received have killed that argument. Very 2017 argument that no longer makes any sense and is presented by luddites.
Most the bottlenecks right now to why you don't have day-to-day apps deployed on ecosystems like ethereum is because of the gas prices. You have hundreds of very intelligent developers working to decrease this to fractions of a cent.
There are legit architectural changes like proof-of-staking and L2-proposed changes that will for sure reduce the price of a function invocation in ethereum.
But you probably don't care about this, because you'd rather hang your nose high and pretend that you're much smarter than a whole ecosystem of extremely talented developers (including some award winners). Enjoy that feeling mate, it's not going to last long and it's all entirely ego-based.
Earlier quoted context omitted.
> I've said this so many times: But what does it doooooo??? Name one project that isn't "speculation" or "loans" built on cryptocurrency that has seen any uptick or utility. NFTs sure ain't it. DAOs sure ain't it. Supply chain tracking sure ain't it. In developing nations where the residents do not have access to regulated and "safe" investment vehicles like stock exchanges, where can they invest their saves? Physica…
Cryptocurrency does not help with this. Also, I asked people to name a project that isn't speculation or loans.
"The Synthetix (SNX) project, one of the biggest ecosystems in decentralized finance (DeFi), recently launched the Hadar upgrade, which enabled tokenized real-world assets like Brent oil and the Nikkei stock index."
Earlier quoted context omitted.
> though estimates seem to be ~50-70% of BTC energy use is from renewables Bullshit. When one coal mine in a remote region of China flooded, the Bitcoin hash rate measurably dropped by 30%. Keep in mind this was just one coal mine. Not all of China's production. https://fortune.com/2021/04/20/bitcoin-mining-coal-china-env... > it's more apt to call it Web 3.0 than cryptocurrency at this point. I've said this so many…
> I've said this so many times: But what does it doooooo??? Are you asking about Bitcoin or Crypto? Bitcoin doesn't do much atm, but Ethereum does stuff, and Bitcoin Cash is pretty practical as a currency at the moment. There's plenty that can be done, but the market will have to decide what to converge on.
This is some of the worst junk writing I've seen on the hill. Some pretty wrong things in here, like insinuating that the only value of crypto is to criminals, and all but saying that the reason there are hackings to things like critical infrastructure is because crypto exists, which is just silly. Then it flags bitcoin as an environmental hazard, though estimates seem to be ~50-70% of BTC energy use is from renewabl…
> though estimates seem to be ~50-70% of BTC energy use is from renewables Bullshit. When one coal mine in a remote region of China flooded, the Bitcoin hash rate measurably dropped by 30%. Keep in mind this was just one coal mine. Not all of China's production. https://fortune.com/2021/04/20/bitcoin-mining-coal-china-env... > it's more apt to call it Web 3.0 than cryptocurrency at this point. I've said this so many…
This is some of the worst junk writing I've seen on the hill. Some pretty wrong things in here, like insinuating that the only value of crypto is to criminals, and all but saying that the reason there are hackings to things like critical infrastructure is because crypto exists, which is just silly. Then it flags bitcoin as an environmental hazard, though estimates seem to be ~50-70% of BTC energy use is from renewabl…
> though estimates seem to be ~50-70% of BTC energy use is from renewables Bullshit. When one coal mine in a remote region of China flooded, the Bitcoin hash rate measurably dropped by 30%. Keep in mind this was just one coal mine. Not all of China's production. https://fortune.com/2021/04/20/bitcoin-mining-coal-china-env... > it's more apt to call it Web 3.0 than cryptocurrency at this point. I've said this so many…
FYI, China kicked out crypto miners, which is why hash rates tanked in the last few months:
https://www.blockchain.com/charts/hash-rate
So we don't know what percentage of mining is even left in China.
Also, dirty energy is a regulatory issue. Externalities should be captured in the price with taxation, and coal mining should not be subsidized by a nation state. When you do those things, energy consumers won't want to use dirty energy, they'll flock to renewables.