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Neal Stephenson doesn't seem keen on crypto anymore

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Re: Neal Stephenson doesn't seem keen on crypto anymore

#11

Post by bko »

> "It's not just the currency that sets the value of the goods. It's the goods in the aggregate that set the value of the currency."

The currency would ideally facilitate trade. Even if it's not baked in it evolves. I remember Diablo 2 people would trade using a particular rare ring (Stone of Jordon). It was essential as you might find rare items that don't fit your character configuration

Ideally crypto would facilitate trade and not take away from the game. But I understand the incentives with the game company using a token as opposed to a natural market that evolved may be off

Re: Neal Stephenson doesn't seem keen on crypto anymore

#12

Post by rocket_surgeron »

Crypto solves no problems for ordinary users.

Literally and actually, with no exceptions, no consumer cares about a public ledger or any of its other features. They do care about being able to dispute a transaction if they are scammed or unhappy.

Crypto solves tons of problems for paranoiac techbros and get-rich-quick schemers.

Re: Neal Stephenson doesn't seem keen on crypto anymore

#14

Post by badcppdev »

petesergeant wrote: post #5

For anyone else who missed it the first time around, here's Neal Stephenson originally being keen on crypto-currency: https://www.lamina1.com/

I might be just stanning but crypto-currency is quite different to block-chains used for digital asset tracking. It's all about the fungibility of individual crypto objects.

Re: Neal Stephenson doesn't seem keen on crypto anymore

#17

Post by smcl »

sdfghswe wrote: post #2

I was using "magic beans" way before it was cool. I could prove it, it's just that I've had several HN accounts banned since then.

Jack and the Beanstalk is such a well-known story that as long as crypto has existed, there will have been people who dismissed it as magic beans.

Re: Neal Stephenson doesn't seem keen on crypto anymore

#18

Post by calebm »

bko wrote: post #11

> "It's not just the currency that sets the value of the goods. It's the goods in the aggregate that set the value of the currency." The currency would ideally facilitate trade. Even if it's not baked in it evolves. I remember Diablo 2 people would trade using a particular rare ring (Stone of Jordon). It was essential as you might find rare items that don't fit your character configuration Ideally crypto would facili…

WUG? SOJs

Re: Neal Stephenson doesn't seem keen on crypto anymore

#19

Post by legrande »

We all started off enthused about cryptocurrency and then the Wolf of Wall Street types co-opted it and ruined it for everyone pulling off the most sophisticated Ponzi schemes in history.

The only use-case for it now is for the criminal underworld (who have to somehow convert to fiat privately using novel techniques, and that gets harder with regulation and sanctions and outright banning of tumbler systems).

Re: Neal Stephenson doesn't seem keen on crypto anymore

#20

Post by hgsgm »

soiler wrote: post #7

This isn't about cryptocurrency at all. It's about the obviously bad idea of transferable digital in-game goods [sold for cryptocurrency]. You don't need the crypto part to see why it's not a good idea, although the model described here (selling loot to other players?) is not the extremely silly one I've heard more often (buy a CSGO skin and wear it in other games!).

Once you've crossed the line of purchasable in-game goods, transferable isn't silly.
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