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Tell HN: We have a responsibility to speak out against blockchain technologies

news.ycombinator.com

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Re: Tell HN: We have a responsibility to speak out against blockchain technologies

#211

Post by endisneigh »

pcthrowaway wrote: post #65
agilob wrote: post #39

Earlier quoted context omitted.

>Tether is and then completely ignores USDC. He also claims that none of the popular blockchains can scale, but Solana is frequently in the top 5 most popular cryptocurrencies. This is very frequent tone on many subreddits, whether you used it intentionally or not, you became part of the problem: none blockchains can scale and all are bad for planet, but have you seen how good solana actually is? This week Solana had…

> none blockchains can scale and all are bad for planet How is Solana bad for the planet exactly? I don't use Solana, or particularly like it, but it's proof of stake, so if you'd resist the urge to jump to conclusions, you'd find with a couple of minutes of research that its energy usage is comparable to a few average households.

> In total, the entire Solana network — with 1,196 validator nodes and an estimated 20,000,000,000 transactions — uses an estimated 11,051,066 kWh per year. This is the equivalent of the average electricity usage of 1038 American households.

https://solana.com/news/solana-energy-usage-report-november-...

Re: Tell HN: We have a responsibility to speak out against blockchain technologies

#212

Post by mattwilsonn888 »

tchock23 wrote: post #11

Careful using the term ‘ponzi’ - they’ll show up and argue with you on semantics of what to call the scam while ignoring your other (valid) arguments.

Its almost like tossing a million shallow arguments at the wall and asking your opponent to spend time debunking each individual one is a duplicitous strategy in itself.

Re: Tell HN: We have a responsibility to speak out against blockchain technologies

#214

Post by yencabulator »

exolymph wrote: post #154
throwhauser wrote: post #31

Earlier quoted context omitted.

The point isn't to convince cryptocurrency users, the point is to convince the average person ("the public").

That only works until they see other people getting rich by not listening to you.

Meanwhile, another centralized platform for hodling your crypto got hacked to the tune of $80M.

Re: Tell HN: We have a responsibility to speak out against blockchain technologies

#215

Post by cuteboy19 »

brown9-2 wrote: post #145
jonwalch wrote: post #18

I find it strange that people keep promoting that YouTube documentary. Ignoring tone issues, there is a lot of cherry picking and other logical fallacies. For example, he talks about how terrible Tether is and then completely ignores USDC. He also claims that none of the popular blockchains can scale, but Solana is frequently in the top 5 most popular cryptocurrencies. It seems to me that people that do an hour of re…

didn’t Solana have an outage this weekend?

Yes, even the good people at r.cryptocurrency turned on the project and see it as a naked cash grab

Re: Tell HN: We have a responsibility to speak out against blockchain technologies

#216

Post by magicjosh »

To this, I say "hell yes"! I don't agree with the "entire scope of crypto is scams" concept but I respect you and am curious to learn more.

HN is full of anti-crypto complainers. Such comments are snarky and repetitive. And most damning they're boring.

This at least is a call to arms. Go get it!

Disclosure: own crypto

Re: Tell HN: We have a responsibility to speak out against blockchain technologies

#217

Post by cuteboy19 »

mattwilsonn888 wrote: post #200
johnday wrote: post #33

Earlier quoted context omitted.

The OP doesn't say complain to crypto users. It says that we need to inform the general public so that they are immunised against the draw of these schemes.

I don't think you realize how much the laughably obtuse skeptic and the crypto die-hards have in common. Both agree that 98% of the space is a scam (though not in market cap terms), its just some people actually look in to find the pockets of progress and value, while others ignore it all and stay poor and resentful. I hate using the term "stay poor," but when I continually see these forever skeptics less versed in b…

I wouldn't be so sure about market caps. Tether (#3) and USDC (#5) have a combined market cap of 120 billion. Both are backed by nothing more than IoUs

Regarding 'stay poor', the vast majority of crypto 'investors' bought in during 2021, meaning that most of them have lost money. Which is of course expected for any net negative 'investment'. It is not cryptoskeptics who are staying poor, I'm afraid

Re: Tell HN: We have a responsibility to speak out against blockchain technologies

#218

Post by CiPHPerCoder »

AnIdiotOnTheNet wrote: post #157
rschachte wrote: post #28

Earlier quoted context omitted.

Blockchain is an immutable ledger. Sure there are scams, just like there are on the regular internet, however, I think there is a lot of potential for blockchain. We're in the early phases of it, but there is more to blockchain that just the currency aspect of it.

People keep saying that and yet when pressed for some hypothetical application that might make sense to do with a Blockchain they just put forth ideas that don't stand up to scrutiny like deed management or transferable game assets.

I took things a different direction:

https://paragonie.com/blog/2017/07/chronicle-will-make-you-q...

Re: Tell HN: We have a responsibility to speak out against blockchain technologies

#219

Post by cuteboy19 »

cc9one wrote: post #150
spacechild1 wrote: post #144

Earlier quoted context omitted.

> but I do think the technology already has applications that are useful to many For example?

Decentralized lending markets like Algofi which went through YC

To be very clear, fully collateralised loans are not really lending per se. They are repurchase agreements. I am not even sure what use such 'loans' have when you need to have $2 to take a loan of $1. They certainly solve some issues that Cryptocurrencies introduce for themselves but outside of that world they are useless

Re: Tell HN: We have a responsibility to speak out against blockchain technologies

#220

Post by blunte »

> the entire scope of these technologies is promoting fraud, scams, and Greater Fool schemes

With this statement the author shows bias and a lack of serious interest in discussion.

Indeed most cryptocurrency projects are frankly illegitimate, but certainly not all.

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