The crypto-skeptics’ voices are getting louder
washingtonpost.com
The crypto-skeptics’ voices are getting louder
1–10 of 41 posts
Re: The crypto-skeptics’ voices are getting louder
#2Happens with every bear market. Nothing new unless you are new to the field.
Re: The crypto-skeptics’ voices are getting louder
#3Right. I get who the rest of the crypto-critics are whilst reading this 'letter' [0] and what they do, but interestingly at first glance I'm not quite sure who exactly the most prominent critics are and I especially mean the ones that are simply left blank like 'Darren W. Seng' and 'Stephen Diehl'. It turns out that they seem to be connected as C-level executives and co-founders of a private blockchain startup named 'Adjoint' [0] that appears to be in direct competition with public blockchains like Bitcoin, and especially Ethereum. It's quite strange to see why that wasn't mentioned?
Given that 'blockchain' is somehow the problem in the letter, why specifically 'public blockchains' [0] why not all blockchains both 'public' AND 'private'? Maybe there is a reason why they are attacking only public blockchains and somehow left out private ones? Another critic seems to attack both of them and doesn't see any difference to them at all. [2] So why did they leave that out in the letter if the blockchain is the problem?
Perhaps cryptocurrencies like Ethereum (which has smart-contract capabilities) and Bitcoin to some extent are the prime reason why the folks at Adjoint are eternally at odds with the crypto industry and are dedicated every single day to totally getting rid of all cryptocurrencies? Many have tried going down this path and Seng, and Diehl seem to have already deleted their repositories and associations [2] with Adjoint to pursue this terribly long utopian conquest.
After all, what on earth is 'nanocoin' and why was that deleted? [2]
[1] https://www.crunchbase.com/organization/adjoint-inc
[2] https://medium.com/@johny.codes/private-blockchains-even-wor...
Re: The crypto-skeptics’ voices are getting louder
#4Happens with every bear market. Nothing new unless you are new to the field.
"A lot of assets in this category are now worth $0" is not a "bear market". It's a hard crash and proof that skeptics' years of criticisms -- including that cryptocurrencies have no intrinsic value and are vulnerable to being worth $0 at any moment -- were correct all along.
Re: The crypto-skeptics’ voices are getting louder
#5Happens with every bear market. Nothing new unless you are new to the field.
"A lot of assets in this category are now worth $0" is not a "bear market". It's a hard crash and proof that skeptics' years of criticisms -- including that cryptocurrencies have no intrinsic value and are vulnerable to being worth $0 at any moment -- were correct all along.
Just because some cryptos goes to zero doesn’t mean all crypto has zero value.
Re: The crypto-skeptics’ voices are getting louder
#6Happens with every bear market. Nothing new unless you are new to the field.
"A lot of assets in this category are now worth $0" is not a "bear market". It's a hard crash and proof that skeptics' years of criticisms -- including that cryptocurrencies have no intrinsic value and are vulnerable to being worth $0 at any moment -- were correct all along.
Um..bitcoin is still $29k, not 0, and so many other cryptos still have value noted in USD out there.
Sure, criticism schimisicm. Proof is in the pudding.
Re: The crypto-skeptics’ voices are getting louder
#7Happens with every bear market. Nothing new unless you are new to the field.
"A lot of assets in this category are now worth $0" is not a "bear market". It's a hard crash and proof that skeptics' years of criticisms -- including that cryptocurrencies have no intrinsic value and are vulnerable to being worth $0 at any moment -- were correct all along.
Useless assets going to zero is business as usual in the field. It happened last time, and the time before that, and the time before that.
Re: The crypto-skeptics’ voices are getting louder
#8Happens with every bear market. Nothing new unless you are new to the field.
"A lot of assets in this category are now worth $0" is not a "bear market". It's a hard crash and proof that skeptics' years of criticisms -- including that cryptocurrencies have no intrinsic value and are vulnerable to being worth $0 at any moment -- were correct all along.
[deleted]
Re: The crypto-skeptics’ voices are getting louder
#9Happens with every bear market. Nothing new unless you are new to the field.
"A lot of assets in this category are now worth $0" is not a "bear market". It's a hard crash and proof that skeptics' years of criticisms -- including that cryptocurrencies have no intrinsic value and are vulnerable to being worth $0 at any moment -- were correct all along.
I mean any asset is vulnerable to being worth $0 at any moment. For example your previously valuable house could actually be worthless due to a structural defect or a previously valuable company could be worth nothing due to massive fraud.
Moreover total crypto market cap still high 12 figures so I fail to see how that proves your point?
Re: The crypto-skeptics’ voices are getting louder
#10Earlier quoted context omitted.
"A lot of assets in this category are now worth $0" is not a "bear market". It's a hard crash and proof that skeptics' years of criticisms -- including that cryptocurrencies have no intrinsic value and are vulnerable to being worth $0 at any moment -- were correct all along.
Um..bitcoin is still $29k, not 0, and so many other cryptos still have value noted in USD out there. Sure, criticism schimisicm. Proof is in the pudding.
> Proof is in the pudding.
That's exactly what I said. The pudding was a crash. It proved that cryptocurrencies are speculative assets without intrinsic value and that they aren't a hedge against any other speculative assets or fiat currency (in contrast to, for example, gold).