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Cryptocurrencies add nothing useful to society, says chip-maker Nvidia

theguardian.com

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Re: Cryptocurrencies add nothing useful to society, says chip-maker Nvidia

#351

Post by koonsolo »

thenaturalist wrote: post #212
emsy wrote: post #104

Earlier quoted context omitted.

There are people that still have their accounts frozen because they donated to the truckers in Canada. That’s insane. Other countries had or will have similar cases in the future. We absolutely should have a way to exchange money without the governments involvement. The government already has the monopoly on physical force. That ought to be enough. So yes, there is a use case. But you’re correct in that it hasn’t rea…

The repeating theme of crypto fans postulating "free" cashflow without government involvment is the road to salvation is annoying me so much. Cashflow without government involvement is the absolute opposite of democratic freedom. Take literally any autocratic government ripe with corruption, look at Russia, China et al. Look at any large criminal organization which tries to avoid democratically elected governmental r…

> Cashflow without government involvement is the absolute opposite of democratic freedom.

“Freedom Is Slavery” - 1984

Re: Cryptocurrencies add nothing useful to society, says chip-maker Nvidia

#352

Post by weberer »

twawaaay wrote: post #201
emsy wrote: post #104

Earlier quoted context omitted.

There are people that still have their accounts frozen because they donated to the truckers in Canada. That’s insane. Other countries had or will have similar cases in the future. We absolutely should have a way to exchange money without the governments involvement. The government already has the monopoly on physical force. That ought to be enough. So yes, there is a use case. But you’re correct in that it hasn’t rea…

Oh yeah, and those same people later cry foul when they get robbed of their money because it was not protected in any way. Suddenly everybody wants crypto but with protections. Fools. There is a reason why money and banking is regulated -- to protect little guys from getting scammed right and left. Those protections are not perfect, true, but still orders of magnitude better than crypto free for all. And as to monopo…

>Take a look at The Last of Us if you want to know what happens when there is no government that can project physical force.

Is this a serious comment?

Re: Cryptocurrencies add nothing useful to society, says chip-maker Nvidia

#353

Post by _5uxp »

intotheabyss wrote: post #198
jkepler wrote: post #135

About 509 years ago the Dutch invented common stock in companies, creating a new way for humans to work together. That had long-term sociological impact in society. Today, there are people who have created new ways of working together by building on top of bitcoin, where its not a company or a legal entity of any king, but people who may not know or trust each other in meatspace are collaborating and getting paid for…

You missed one of the most important DAOs / Exchanges which is Uniswap, which popularized the concept of AMMs and is now doing billions each day in volume.

Not to forget, their token drop to actual users and after that it went publicly up in real value and still holds similar to first price, unlike scammy financially enginered Tech IPOs. Really easy to compare and see the diffence.

Re: Cryptocurrencies add nothing useful to society, says chip-maker Nvidia

#354

Post by weberer »

EdwardDiego wrote: post #249
everfree wrote: post #175

Earlier quoted context omitted.

None of those factors establish a fundamental market price for the dollar - you're simply listing the price of admission for any state-backed currency. The dollar has declined in value by over 90% since 1933. By your metrics that must mean that the US is in catastrophic meltdown, but of course it isn't.

> None of those factors establish a fundamental market price for the dollar Neither does the P/E ratio of a company, yet it's still a fundamental used to value stocks. > The dollar has declined in value by over 90% since 1933. Relative to which other currencies?

>Relative to which other currencies?

Relative to the USA's consumer price index.

Re: Cryptocurrencies add nothing useful to society, says chip-maker Nvidia

#355

Post by _5uxp »

partiallypro wrote: post #178
jkepler wrote: post #135

About 509 years ago the Dutch invented common stock in companies, creating a new way for humans to work together. That had long-term sociological impact in society. Today, there are people who have created new ways of working together by building on top of bitcoin, where its not a company or a legal entity of any king, but people who may not know or trust each other in meatspace are collaborating and getting paid for…

> I fail to see how those aren't examples of how this technology benefits society. Can you list examples of how it has helped society as a whole? Nothing you listed has anything to do with helping society. You've listed things you think are good things, but nothing is a society wide benefit. Building on top of Bitcoin or Etherium is great and all... But how does that help the average person? I've seen no trickle down…

It helps libgen, sci-hub stay funded and makes Argentines, many other nations hold USD equivalent. It makes remittance much more cheaper and easier too

Re: Cryptocurrencies add nothing useful to society, says chip-maker Nvidia

#356

Post by _5uxp »

kkielhofner wrote: post #282
ThorsBane wrote: post #256

Earlier quoted context omitted.

Cryptocurrency generation mechanics are 14 years old. Run-time and application deployables on top are not 14 years old. This is a brand new space and it's still in its infancy. Ethereum is an amazing technology.

Moving the goal posts a little but sure. Ethereum is eight years old. The Ethereum foundation alone has a billion dollars. Ethereum and the related ecosystem has had tens of billions of dollars thrown into it. I don’t know how that can be described as “infancy”. The web was opened by CERN in 1993. By 2001 it was being used by over 500 million people daily. Please look at an eth block explorer and tell me how many peo…

Facebook acquired Oculus 9 years ago, spent billions yet active users are similiar to crypto probably. So another tech like you said exist and Crytpo is being used for meaningful things too. But you are just too ignorant to even learn about it, sadly. There many like you here.

Re: Cryptocurrencies add nothing useful to society, says chip-maker Nvidia

#357

Post by miracle2k »

itake wrote: post #268
EGreg wrote: post #200

Earlier quoted context omitted.

So what you're saying is that we need a front-end layer with content-addressable hashes? Like Beaker Browser with Dat, or like IPFS gateways? And then we have a truly decentralized ecosystem in which billions of dollars are invested and trading. And no one owns it! They can't introduce a 100% fee or deactivate their contracts. I read the code. It is impossible.

Yes. I said in my first comment that you can use other tools to access smart contracts. My point is, all of these tools have central leadership and centralized auxiliary services (DNS, discord, etc). Without the centralized leadership or centralized services, these protocols can’t function.

While its worth considering the power structures behind a project, and what would happen for example if Uniswap Labs decides to put their weight behind a particular fork, or proposes a new version - the protocols can and d function without centralized leadership.

Even today, every wallet's swap feature is already an aggregator across multiple DEXes - neither theU Uniswap website nor their discord nor their leadership team are required for the protocol to continue to function.

Reminder: TornadoCash is still up and running and actively used.

Re: Cryptocurrencies add nothing useful to society, says chip-maker Nvidia

#358

Post by danaris »

thenaturalist wrote: post #212
emsy wrote: post #104

Earlier quoted context omitted.

There are people that still have their accounts frozen because they donated to the truckers in Canada. That’s insane. Other countries had or will have similar cases in the future. We absolutely should have a way to exchange money without the governments involvement. The government already has the monopoly on physical force. That ought to be enough. So yes, there is a use case. But you’re correct in that it hasn’t rea…

The repeating theme of crypto fans postulating "free" cashflow without government involvment is the road to salvation is annoying me so much. Cashflow without government involvement is the absolute opposite of democratic freedom. Take literally any autocratic government ripe with corruption, look at Russia, China et al. Look at any large criminal organization which tries to avoid democratically elected governmental r…

> How this is not apparent to anyone is beyond me.

It's exactly the same problem as:

Day 1: "I'm glad I finally got medicine for my chronic condition."

Day 2: "Wow, this medicine is making me feel so much better!"

Day 3: "I feel great! I don't need this medicine anymore!"

Day 4: "Man, why do I feel so terrible??"

Re: Cryptocurrencies add nothing useful to society, says chip-maker Nvidia

#359

Post by ipaddr »

epgui wrote: post #265
ipaddr wrote: post #260

Earlier quoted context omitted.

Women's right to choose what goes in their bodies is an important right in Canada. Not to worry the wartime act will be used on something you personally care about but by that time your rights will be gone.

^ Exhibit A: commenter fails to recognize that there are sometimes good reason to temporarily limit rights, such as to limit the spread of infectious diseases, because commenter knows very little about public health or epidemiology. Commenter believes that anytime rights are limited, it's for a nefarious purpose, and it can't possibly be for a good reason. How's the syphillis and HIV treating you? Oh what's that? You…

I don't live in a society where they force vaccinate hiv or syphilis patients. Are you living in Africa?

People who have hiv or syphilis do not get fired from a working from home position with the Canadian government because they refuse to take a vaccine.

Your worldview is limited.

Re: Cryptocurrencies add nothing useful to society, says chip-maker Nvidia

#360

Post by ipaddr »

helloooooooo wrote: post #281
epgui wrote: post #265

Earlier quoted context omitted.

^ Exhibit A: commenter fails to recognize that there are sometimes good reason to temporarily limit rights, such as to limit the spread of infectious diseases, because commenter knows very little about public health or epidemiology. Commenter believes that anytime rights are limited, it's for a nefarious purpose, and it can't possibly be for a good reason. How's the syphillis and HIV treating you? Oh what's that? You…

They also don’t understand that the “wartime act” is not the act that was invoked. In fact, the War Measures Act has not existed in Canada for nearly 40 years. It was replaced by the Emergencies Act, which explicitly does not violate the Canadian Charter of Rights and Freedoms, unlike its predecessors. It just goes to show how knowledgeable the previous poster is on the subject.

Same act that imprisoned Japanese citizens that was slightly changed. Legally the government could make you a slave and it wouldn't violate your charter.

You don't have as many rights or protections as you believe. You don't even have property rights in Canada.

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