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On anti-crypto toxicity

blog.mollywhite.net

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Re: On anti-crypto toxicity

#561

Post by nix0n »

codeflo wrote: post #12

I don’t think there’s a bifurcation between “good” and “bad” people in crypto, the real world is a lot more grey, and how people behave doesn’t depend so much on their character, but on culture and incentives. These days, we painfully observe the culture of crypto in every single online medium that isn’t very carefully moderated, for example Twitter. And about incentives, I think it’s very hard not to become some kin…

> I don’t think there’s a bifurcation between “good” and “bad” people in crypto

Right, there's only bad people.

The bifurcation is between money laundering people and Ponzi scheme people.

Re: On anti-crypto toxicity

#562

Post by Consultant32452 »

easrng wrote: post #555
Consultant32452 wrote: post #482

Earlier quoted context omitted.

Underlying all of our financial transactions is debt. Even an ACH transfer is a very temporary debt in a network of trust. That's why people with "bad credit" can't get accounts at traditional banks. This hurdle does not exist in crypto. I'm not suggesting crypto is some panacea, but it does eliminate this very important problem for people on the bottom of the economic ladder.

You can't pay for groceries with crypto. The easiest way to transfer money people can actually use without a bank account is probably texting someone a prepaid card number, though for low amounts the purchase fee is kind of a lot. Crypto is good for circumventing the legal system (ex. getting DIY HRT where it's not legal) but for most basic needs it's not very useful.

You can't pay for groceries with crypto yet. The government is making adoption more difficult by doing things like classifying all crypto as assets, so every transaction by a legitimate business requires they have to do a ton of tax paperwork about it. Some countries use bitcoin as official currency, so this not universally the case.

I don't know if adoption will increase, nor do I have a strong opinion on whether it should. But it does solve the specific, narrow problem of lack of basic banking for the poor.

Re: On anti-crypto toxicity

#563

Post by vmception »

1270018080 wrote: post #559
vmception wrote: post #521

> But when you come across someone on Twitter with a hexagon-shaped profile picture, your chances are at least as good that you’ve come across someone in the first bucket than in the second Ah so this is about twitter culture. I agree, it is strange that people showing some outward interest in crypto are ignored. These conversations basically go like this : thats not accurate, the flash loan was used to borrow and ac…

I'll have to side with for the same reason I wouldn't give a Scientologist a chance to speak either.

that's ignorant by all four Oxford listed definitions of ignorant.

Re: On anti-crypto toxicity

#564

Post by loup-vaillant »

przeor wrote: post #528
loceng wrote: post #381

Earlier quoted context omitted.

While trying to not regularly call the majority of cryptocurrencies (the term currency misappropriated) an MLM-Ponzi scheme, I've started to realize that an easier or perhaps better way to state the problem with them is to use one of the key values that is virtue signalled against them: it's claimed that Bitcoin et al are anti-inflation, when in fact the inflation is just built into it - and only benefit the early/ea…

Social Security at least in Poland, also is a Ponzi-like scheme. The difference is that to crypto you arent forced to participate in in opposit to govt backed schemes.

Err… can you explain in more detail how social security works in Poland, and how it is pyramidal, or at least multi-level?

Re: On anti-crypto toxicity

#565

Post by mrguyorama »

bee_rider wrote: post #438
trutannus wrote: post #188

Earlier quoted context omitted.

Right, anyone can generate NFTs though. How does this differ from saying something like "the artist who called an empty room art is the jumping the shark moment, now I'm advocating against art at every turn"?

Lots of art is pretty dumb, I don't advocate against it because who has time to go advocate against dumb, pointless things? Just avoid it. I'm not into art, not into NFTs, but while bumbling around in the world I've encountered enough genuinely beautiful art that I don't think the field as a whole is a joke. This isn't the case for NFTs. On the other hand, NFTs are pretty new. Maybe someone will make a museum of NFTs…

You literally can't make a museum of NFTs because the jpeg they point to is actually distinct from the NFT itself. A museum of NFTs would just be a giant list of hashes

Re: On anti-crypto toxicity

#566

Post by garbanz0 »

The crypto world is full of serious, borderline genius innovation as well as scammers and lies. I don't know why people can't accept that both can be true at the same time.

What percentage of emails sent in the world are legitimate vs spam? I don't think in principle we care about the volume of BS, we only care about how easily we can filter it out from the genuine stuff. I think over time our ability to do that will get better.

Once crypto as a platform has more useful products, it'll be more obvious that it's worth it to put in the work to filter out the BS. For now, I can see why it's not so obvious. But don't be disappointed that you didn't get in early.

Re: On anti-crypto toxicity

#567

Post by rglullis »

theamk wrote: post #477
rglullis wrote: post #454

Earlier quoted context omitted.

Or for people who ate shut out from PayPal/Stripe and any possibility of doing business online. You talk about socialites, but your kind of comment is the most "let them have cake" type of mentality.

Do you know of any websites which are run by people who are shut out from PayPal/Stripe, and which use cryptocurrencies? So far most crypto-related websites seem to be run by people from rich countries with full access to banking system.

Yes. To this day if you work with marijuana dispensary you will be denied of any payment processor. Sex workers are denied credit card applications, even where prostitution is legal.

There is also "not exactly blocked but so many hoops to jump that is practically as it doesn't exist" markets: try being a consultant working from South America without getting ripped off in transfer/exchange fees and ask them how many would wish that their customers paid them in crypto instead.

Re: On anti-crypto toxicity

#568

Post by miohtama »

garbanz0 wrote: post #566

The crypto world is full of serious, borderline genius innovation as well as scammers and lies. I don't know why people can't accept that both can be true at the same time. What percentage of emails sent in the world are legitimate vs spam? I don't think in principle we care about the volume of BS, we only care about how easily we can filter it out from the genuine stuff. I think over time our ability to do that will…

As a related information nugget, HashCash that popularised proof-of-work concept before Bitcoin, was originally designed a email spam prevention tool. Goes far back as 1997.

http://www.hashcash.org/

Re: On anti-crypto toxicity

#569

Post by 1270018080 »

vmception wrote: post #563
1270018080 wrote: post #559

Earlier quoted context omitted.

I'll have to side with for the same reason I wouldn't give a Scientologist a chance to speak either.

that's ignorant by all four Oxford listed definitions of ignorant.

I would argue I have a less ignorant view of Scientology or cryptocurrency than someone who is indoctrinated. There isn't going to be any useful information to glean from an active cult member expressing their views on their cult. Who is really ignorant?

Re: On anti-crypto toxicity

#570

Post by throwaway82652 »

rvz wrote: post #520
______-_-______ wrote: post #278

Earlier quoted context omitted.

Quoted post unavailable.

Not sure why you are downvoted since here on HN, a bad egg soils the bunch. The logic with them is as follows with an example of a fallacy with cars and the environment: 'The majority of cars worldwide are not electric. They are all petrol and diesel cars. That means that ALL cars are bad for the environment and that will not change and thus should be all banned.' Not all cryptocurrency projects are scams, just like…

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