What about all the drug deals and bribes?????
Cryptocurrencies add nothing useful to society, says chip-maker Nvidia
151–160 of 377 posts
Re: Cryptocurrencies add nothing useful to society, says chip-maker Nvidia
#152> “All this crypto stuff, it needed parallel processing, and [Nvidia] is the best, so people just programmed it to use for this purpose. They bought a lot of stuff, and then eventually it collapsed, because it doesn’t bring anything useful for society. AI does,” Kagan told the Guardian. No, the crypto mining industry collapsed because the largest GPU-mined cryptocurrency (Ethereum) removed the ability for people to m…
"the crypto mining industry collapsed..."
It did not collapse. Only GPU mining collapsed (shitcoins). ASIC-based mining is going strong (Bitcoin). Disk-based mining is going strong (Chia).
Re: Cryptocurrencies add nothing useful to society, says chip-maker Nvidia
#153Re: Cryptocurrencies add nothing useful to society, says chip-maker Nvidia
#154Earlier quoted context omitted.
It's not a race. One technology can show its value more quickly than another, and one technology can ultimately provide more value to society than another. That doesn't mean that the other technology is useless, just that it developed more slowly and/or ended up having a lesser overall impact. I think it's worth putting into perspective though that machine learning kicked off in the 60s, whereas there wasn't any nota…
I think the comparison is useful to folks trying to wrap their head around the hype; it's natural to ask "is this crypto all over again" and the answer is very clearly no.
IMO since crypto is a newer technology than AI, I think it's more relevant to ask whether crypto is "AI all over again".
AI has followed the classic Gartner hype cycle [1]. There was the trigger in the 1960s-90s, the peak of inflated expectations in 2000-2010 with every other company bragging about "AI this" or "machine learning that" while having nothing of any use to show for it, then finally the "slope of enlightenment" from the 2010s-present where AI is actually becoming useful to people in their everyday lives.
Crypto may be on the way out - or - it may be following a similar curve on a shifted timeline. For example: Trigger in 2009, peak of inflated expectations 2017 (cryptokitties), trough of disillusionment 2017-2030, slope of enlightenment 2030-2040.
Re: Cryptocurrencies add nothing useful to society, says chip-maker Nvidia
#155> “All this crypto stuff, it needed parallel processing, and [Nvidia] is the best, so people just programmed it to use for this purpose. They bought a lot of stuff, and then eventually it collapsed, because it doesn’t bring anything useful for society. AI does,” Kagan told the Guardian. No, the crypto mining industry collapsed because the largest GPU-mined cryptocurrency (Ethereum) removed the ability for people to m…
Wasn’t Nvidia trying to block cryptomining a year or two ago so they could sell to their core target markets in peace?
It seems difficult to reconcile “we’re actively trying to stop cryptominers from buying our product” actions with “we’re against cryptomining only because they’re not buying our product” views.
Re: Cryptocurrencies add nothing useful to society, says chip-maker Nvidia
#156I do not own any crypto myself. The grown-up opinion is of course to view all crypto ""investments"" with extreme skepticism, which is an absolutely sane and correct position. With that said, I like the idea of cryptocurrencies simply because they are punk as f*ck, and I'd like whatever leadership in charge to know that they do not have absolute power to run anyone else's life. Apart from magic internet money, I cann…
Since when is anything having to do with the accumulation of wealth "punk"?
I'm not a crypto fan, but I think the argument would be that Bitcoin in particular wasn't created as a means of wealth accumulation, but rather as a means of avoiding government interference in "money." That may have been misguided, but I think that's the argument.
Re: Cryptocurrencies add nothing useful to society, says chip-maker Nvidia
#157[deleted]
Re: Cryptocurrencies add nothing useful to society, says chip-maker Nvidia
#158Re: Cryptocurrencies add nothing useful to society, says chip-maker Nvidia
#159Wrong. Cryptocurrency demonstrate what electronic payment system should look like: without ability to sell user data and spy on users. Cryptocurrency is the payment system which is designed only for payment without unnecessary features. Today if you pay with card you basically consent to collecting your data by corporations and following you offline and online, creating a detailed history of your activity. Corporatio…
I don't give a f*k about someone following my activities, I'm not doing anything illegal, that's why I don't understand this privacy craze going on. The most they can do is show me some personalized ads and I don't care. But the downside is getting scammed, get money stolen and not being able to figure out who did that. That's what anonymity feature of crypto promotes which I think is a much bigger deal, especially i…
> that's why I don't understand this privacy craze going on.
Because you were born in a stable democracy. Congratulations. Enjoy your privilege.
Re: Cryptocurrencies add nothing useful to society, says chip-maker Nvidia
#160I do not own any crypto myself. The grown-up opinion is of course to view all crypto ""investments"" with extreme skepticism, which is an absolutely sane and correct position. With that said, I like the idea of cryptocurrencies simply because they are punk as f*ck, and I'd like whatever leadership in charge to know that they do not have absolute power to run anyone else's life. Apart from magic internet money, I cann…
> Apart from magic internet money, I cannot figure out any other way in which to "make myself heard". Your way of "making yourself heard" is to trade your real dollars for digital dollars? The thing about cryptocurrencies is that you don't need to invest in them to use them as needed. Sure, you could argue that maybe at some future point the governments could possibly all band together and shut down every on-ramp to…
If you re-frame money as essentially a form of speech then 'making yourself heard' makes sense. The medium becomes the message. DeFi as the ideal, not top-down government to control the money supply with sketchy all-seeing-eye masonic symbols on the banknotes.