"Cryptocurrency", not "Crypto". Title should be updated to correct this.
The Handwavy Technobabble Nothingburger of Crypto
91–100 of 704 posts
Re: The Handwavy Technobabble Nothingburger of Crypto
#92Any application that could be done on a blockchain could be better done on my centralized database. Buy now.
Re: The Handwavy Technobabble Nothingburger of Crypto
#93Earlier quoted context omitted.
So the US has an antiquated payments system vis-a-vis Europe, but crypto solves none of those problems. I don't see it. I see FOMO, groupthink and greed.
You fail to see people who lost trust in their governments and organizations? You don't see how people are unhappy with getting their savings diluted by unlimited money printing?
It seems like the people most upset by money printing learned to be upset by money printing from crypto propaganda.
Re: The Handwavy Technobabble Nothingburger of Crypto
#94Earlier quoted context omitted.
Then you would expect people in the EU to not be interested in crypto, yet it's the opposite. You can pull up search volume for "Bitcoin" across the world (using Google Trends), many European nations are at the top. As a matter of fact, their search volume is higher than US.
> easy electronic transfers within 5 seconds for no charge This is certainly not the case everywhere in the EU. In Germany for example it usually takes days. Not sure about other countries.
By law it must take at most a single day intra-country, and instant wire transfers are pretty common (though sometimes not free).
Re: The Handwavy Technobabble Nothingburger of Crypto
#95Earlier quoted context omitted.
A blockchain doesn’t provide trust, though. A person who doesn’t understand technology doesn’t trust a distributed ledger, but they do trust their centralised bank because it’s regulated.
I would question how much of the layperson's trust is due to bank regulation and how much is due to familiarity.
Probably nearly 100% due to regulation.
Re: The Handwavy Technobabble Nothingburger of Crypto
#96This entire post seems to avoid or lack the understanding of the basic reasons blockchain were created; that is, to offer a decentralized, permissionless, censorship-resistant network. This was Satoshi's vision, and those values are a blockchain's express priority over scale and efficiency. Centralization is great for speed and efficiency, not so great for protection against authoritarian actors (governments or centr…
>> censorship-resistant As in impossible to influence via regulation. Once you realize that proper regulation is a good thing and a must in a functioning society, you realize something that can not be regulated can't be allowed to exist as it will undermine said society.
I've yet to see the demise of the movie industry thanks to BitTorrent.
Re: The Handwavy Technobabble Nothingburger of Crypto
#97I wonder how much of the Crypto hype is because the US banking system still lives in the 1980s or thereabouts. If everybody in the US had access to bank accounts with easy electronic transfers within 5 seconds for no charge, no chargebacks and so on, as people are used to in the EU, would people still be excited about Bitcoin?
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Re: The Handwavy Technobabble Nothingburger of Crypto
#98This particular source is extremely low quality and is motivated by the author's undisclosed competing product. I would like to see higher quality sources on the front page of hacker news one day.
Can you point out what is low quality about it? Right now it seems that you are just making that claim because you disagree with the thesis of the article.
e.g. https://www.txstate.edu/philosophy/resources/fallacy-definit...
Re: The Handwavy Technobabble Nothingburger of Crypto
#99Earlier quoted context omitted.
You fail to see people who lost trust in their governments and organizations? You don't see how people are unhappy with getting their savings diluted by unlimited money printing?
It seems like the people most upset by money printing learned to be upset by money printing from crypto propaganda.
Propaganda? Does it matter where they learned it as long as it's true and factual?
Re: The Handwavy Technobabble Nothingburger of Crypto
#100I submitted this recently, as a counterpoint to this article:
Yes, You May Need a Blockchain (coindesk.com)
https://news.ycombinator.com/item?id=29319205