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Cryptocurrencies add nothing useful to society, says chip-maker Nvidia
21–30 of 377 posts
Re: Cryptocurrencies add nothing useful to society, says chip-maker Nvidia
#22Who is "society"? Users of cryptocurrencies obviously find them useful, or hope they will be in future. The alternative to cryptocurrency and blockchain contracts are global alliances that make trading in dollars easy in all important markets and enforce contracts across jurisdictions. Billions of people who are not part of these alliances are left out and the rest are reliant on US/Europe remaining leading superpowe…
“user of cryptocurrencies”.
It’s scammers, ramsomers, speculators and illicit drugs all the way down.
Re: Cryptocurrencies add nothing useful to society, says chip-maker Nvidia
#23Most crypto currencies don't and probably never will. But those such as Bitcoin that are the most decentralized and censorship resistant are crucial to those living under authoritarian regimes and whose currencies are going through significant debasement. The mad rush to make a quick buck and the propaganda from those in power have distorted the original intent behind crypto. Also, corporations such as Nvidia that de…
Intent and practice are sadly different.
It doesn't seem like Bitcoin, etc. are widely used enough to be crucial to a society such as you describe. And I have a hard time imagining how they could become so, given the difficulty in converting that society's standard currency to cryptocurrency.
Re: Cryptocurrencies add nothing useful to society, says chip-maker Nvidia
#24Who is "society"? Users of cryptocurrencies obviously find them useful, or hope they will be in future. The alternative to cryptocurrency and blockchain contracts are global alliances that make trading in dollars easy in all important markets and enforce contracts across jurisdictions. Billions of people who are not part of these alliances are left out and the rest are reliant on US/Europe remaining leading superpowe…
Society is the unspecific. It's the masses. Who are this earthship.
Non-society is everyone who sets themselves apart.
Re: Cryptocurrencies add nothing useful to society, says chip-maker Nvidia
#25Earlier quoted context omitted.
"Users of cryptocurrencies obviously find them useful, or hope they will be in future" Do they hope they'll be useful in the future because they think they're great technology that everyone should benefit from... or do they want them to be useful because they bought in early and want to get rich?
In most cases it's both. Like the people who were early to the Internet, they believe in a better world and they hope their early participation will be rewarded.
I was early to the internet, and the only financial benefit I ever expected from it was that I'd be able to have a good career because of the skills I'd developed.
Re: Cryptocurrencies add nothing useful to society, says chip-maker Nvidia
#26Who is "society"? Users of cryptocurrencies obviously find them useful, or hope they will be in future. The alternative to cryptocurrency and blockchain contracts are global alliances that make trading in dollars easy in all important markets and enforce contracts across jurisdictions. Billions of people who are not part of these alliances are left out and the rest are reliant on US/Europe remaining leading superpowe…
How does shifting from a physical currency based on the petrodollar to a digital currency backed by the petrodollar address any of this? Technology cannot solve problems of power…
Re: Cryptocurrencies add nothing useful to society, says chip-maker Nvidia
#27Rather than collapsing, Ethereum sought to reduce the energy footprint and they did. Now Nvidia is angry that nobody wants to pay a premium for a 4090 that catches fire.
Not really. 4090s are flying off the shelves.
Re: Cryptocurrencies add nothing useful to society, says chip-maker Nvidia
#28“I never believed that [crypto] is something that will do something good for humanity. You know, people do crazy things, but they buy your stuff, you sell them stuff” - Michael Kagan, Nvidia CTO If I sold shovels and meth users liked to dig swimming pools in their back yards at 3:00 am I might say my shovels weren't doing anything good for humanity, but I'd be happy to sell them shovels.
Reminds me of when a sushi chef apologized to me for the sea urchin tasting nasty:
"Sorry, it's out of season. It's not fresh."
"Why do you sell it out of season?"
"People still buy it."
Re: Cryptocurrencies add nothing useful to society, says chip-maker Nvidia
#29Who is "society"? Users of cryptocurrencies obviously find them useful, or hope they will be in future. The alternative to cryptocurrency and blockchain contracts are global alliances that make trading in dollars easy in all important markets and enforce contracts across jurisdictions. Billions of people who are not part of these alliances are left out and the rest are reliant on US/Europe remaining leading superpowe…
“user of cryptocurrencies”. It’s scammers, ramsomers, speculators and illicit drugs all the way down.
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Re: Cryptocurrencies add nothing useful to society, says chip-maker Nvidia
#30Who is "society"? Users of cryptocurrencies obviously find them useful, or hope they will be in future. The alternative to cryptocurrency and blockchain contracts are global alliances that make trading in dollars easy in all important markets and enforce contracts across jurisdictions. Billions of people who are not part of these alliances are left out and the rest are reliant on US/Europe remaining leading superpowe…
“user of cryptocurrencies”. It’s scammers, ramsomers, speculators and illicit drugs all the way down.
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