Crypto: The Good, the Bad and the Ugly
1–10 of 318 posts
Re: Crypto: The Good, the Bad and the Ugly
#2I don't think there is any good.
Re: Crypto: The Good, the Bad and the Ugly
#3The current fiat system (and the Governments that control it) are completely enslaved to the welfare (pension) and healthcare demands of baby boomers.
These demands will only multiply as the populations age, until eventually consuming the host. You can already see this in countries like Italy, which are now in demographic death spirals.
If we can craft a new financial system without spending 15%+ of our GDP and rising on Pensions[1], even with some inefficiency its still worth it.
https://data.oecd.org/socialexp/pension-spending.htm
Avoiding sales taxes, platform commissions, and income taxes is a major advantage.
The issue with Crypto right now is waste from Proof of Stake, and fraud/security risks. We need to resolve this before expanding.
Re: Crypto: The Good, the Bad and the Ugly
#4I think this is the most fair and sane opinion about crypto I ever read.
The author acknowledges the benefits without falling for the “tulip mania”
Re: Crypto: The Good, the Bad and the Ugly
#5This is really good - definitely worth reading. There are a bunch of useful angles on what's going on here that I've not seen written about elsewhere.
Re: Crypto: The Good, the Bad and the Ugly
#6The current fiat system (and the Governments that control it) are completely enslaved to the welfare (pension) and healthcare demands of baby boomers. These demands will only multiply as the populations age, until eventually consuming the host. You can already see this in countries like Italy, which are now in demographic death spirals. If we can craft a new financial system without spending 15%+ of our GDP and risin…
> The current fiat system (and the Governments that control it) are completely enslaved to the welfare (pension) and healthcare demands of baby boomers.
If we can craft a new financial system without spending 15%+ of our GDP and rising on Pensions, even with some inefficiency its still worth it.
Avoiding sales taxes, platform commissions, and income taxes is a major advantage.
So you think the problem solved by crypto is no longer paying taxes or contributing any part of our incomes to the collective good? I guess you think that child mortality isn't something we should worry about? Or looking after the weak and sick, in general. Why pay for schools, or sanitation, or public transport, at all? And the rules that govern human behavior - we can just rid ourselves of the police in this libertarian-anarcho system where the rich do as they please, and the rest predate upon each other.
Sounds like a great use-case for crypto.
Re: Crypto: The Good, the Bad and the Ugly
#7> It seems if you want to do crypto things without burning the planet down, you can.
Right, but what if you consider it a bad thing to introduce an economic incentive for other people to burn the planet down?
This is beyond a matter of personal choice, until and unless we all get our own personal planets.
Re: Crypto: The Good, the Bad and the Ugly
#8> It seems if you want to do crypto things without burning the planet down, you can. Right, but what if you consider it a bad thing to introduce an economic incentive for other people to burn the planet down? This is beyond a matter of personal choice, until and unless we all get our own personal planets.
I agree, but our problem is with proof of work, not crypto. I don't buy/use bitcoin any more because of this. Ethereum is moving (the sooner the better), and the only other PoW crypto I have a bit of is innovating PoW and (hopefully) becomes more environmentally friendly as a result. To be honest, I'm still unclear on if this is even possible, and if energy usage becomes significant relative to what it does, I would drop it as well.
Re: Crypto: The Good, the Bad and the Ugly
#9Aww. I was all excited for this to be about block ciphers and that type of crypto :(
Re: Crypto: The Good, the Bad and the Ugly
#10> It seems if you want to do crypto things without burning the planet down, you can. Right, but what if you consider it a bad thing to introduce an economic incentive for other people to burn the planet down? This is beyond a matter of personal choice, until and unless we all get our own personal planets.
It’s a good thing. Secure money is pretty much one of the most important thing we have invented in this age. The energy today is nothing to the energy can harness tomorrow. The planet burners ain’t the energy buyers // it’s the energy sellers. Fix production to be green and grow grow grow.