Awesome Critique of Crypto/Web3
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Awesome Critique of Crypto/Web3
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Re: Awesome Critique of Crypto/Web3
#2Title should be plural: this is a roundup of links to critiques
Re: Awesome Critique of Crypto/Web3
#3Title should be plural: this is a roundup of links to critiques
It's named this because GitHub repos called "awesome-X" are precisely that. I forgot where the pattern originated
Re: Awesome Critique of Crypto/Web3
#4Re: Awesome Critique of Crypto/Web3
#5Even as a cryptocurrency developer myself, I concur with most of the criticism. I detest all the cash grabbing, speculation, hype, and scams.
Where I diverge from most criticism is in PoW. In its early years, when Bitcoin was used as currency rather than for speculation, mining only consumed moderate amounts of energy, in line with the lower prices of a few dozen dollar per bitcoin at most. My hope is for Tether to crash, leading to a downward price spiral for Bitcoin, an end to rampant speculation, and a huge scaling down of mining. There should be no expectation of financial gain in cryptocurrency. It should just serve its original purpose of making convenient limited value purchases online.
I don't support PoS as it leads to huge wealth concentration with the founders owning 100% of all initial coins.
Re: Awesome Critique of Crypto/Web3
#6Even as a cryptocurrency developer myself, I concur with most of the criticism. I detest all the cash grabbing, speculation, hype, and scams. Where I diverge from most criticism is in PoW. In its early years, when Bitcoin was used as currency rather than for speculation, mining only consumed moderate amounts of energy, in line with the lower prices of a few dozen dollar per bitcoin at most. My hope is for Tether to c…
With settlement time of 60 minutes Bitcoin was never designed as true currency, but more as a holdable asset.
While some of the critiques are valid, as system matures, there will be less and less of it. Crypto is here to stay.
Re: Awesome Critique of Crypto/Web3
#7Isn't Stephen Diehl a grifter who sells private blockchain tech and hates on everyone who could threaten his business?
I wouldn't call such a source an awesome critique.
Re: Awesome Critique of Crypto/Web3
#8Isn't Stephen Diehl a grifter who sells private blockchain tech and hates on everyone who could threaten his business? I wouldn't call such a source an awesome critique.
Interesting, I thought some of his articles were well put together. Do you have a source for that gossip? Would love get both sides of the story.
Re: Awesome Critique of Crypto/Web3
#9No post body was provided.
Re: Awesome Critique of Crypto/Web3
#10Quoted post unavailable.
So no interesting tech, no benefit, the only high point is you extracted a lot of rent.