41–50 of 424 posts
I thought that crypto was the asset of last resort, independent from the fluctuations and manipulations of the market. Better than gold, better than oil, better than SP500...
All cryptocurrencies are not the same.
Great, Binance was fundamentally not built to service US citizens. Coinbase and maybe Gemini are basically the only ones who have gone through the legal hurdles to actually service US citizens. The intended market for Binance, and exchanges like it, is the other 95% of the human population without US citizenship, and that's fine. Kind of a bummer that US regulations make it incompatible with the financial infrastruct…
Earlier quoted context omitted.
Nearly 14 years in, where exactly is this “ton of real world utility”? Surely someone somewhere would have a product providing this utility, even amidst the sea of fraud and grift. I still don’t see it. Some utility? Okay, sure. A ton? Not even close. Consider that the web launched in 1993. By 2007 (14 years later), virtually the entire planet had changed dramatically as a result. That is a technology with a ton of r…
Or look at much newer LLMs, or even Gaussian Splatting. Clear use cases, rapid innovation, certain impact. Cryptocurrency has two main applications: illegal transactions, and speculation. It's high time to stop pretending it got popular for any other reason.
Cryptocurrency was (and still is to an extent) a really interesting idea that has a ton of real world utility, especially as government surveillance continues its march towards panopticon. It's a shame that the "get rich quick" grifters and speculators took ahold of it and have killed any chance of normal people adopting it as a regular form of payment.
Nearly 14 years in, where exactly is this “ton of real world utility”? Surely someone somewhere would have a product providing this utility, even amidst the sea of fraud and grift. I still don’t see it. Some utility? Okay, sure. A ton? Not even close. Consider that the web launched in 1993. By 2007 (14 years later), virtually the entire planet had changed dramatically as a result. That is a technology with a ton of r…
It's no web, but its a lot more impactful than say self driving cars (thus far), 3D-printing, or vegan meat.
Edit: This is not to discount those technologies, rather to emphasize that crypto is used by millions worldwide for real transactions.
Earlier quoted context omitted.
Nearly 14 years in, where exactly is this “ton of real world utility”? Surely someone somewhere would have a product providing this utility, even amidst the sea of fraud and grift. I still don’t see it. Some utility? Okay, sure. A ton? Not even close. Consider that the web launched in 1993. By 2007 (14 years later), virtually the entire planet had changed dramatically as a result. That is a technology with a ton of r…
NFTs. It's like Steam's marketplace, but without having to have one company have control to ban anyone. It lets you safely make trades without having to pass your items to sites for them to hold on to your items for you.
TL;DR they're forcing the customer to do the currency conversion instead of them doing it automatically at the time of withdrawal?
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> It's like Steam's marketplace, but without having to have one company have control ...and without payment processing, fraud detection, customer service, moderation tools, user reviews or a refund policy.
The network does the payment processing. The rest can be implemented at a higher level. It is like offering customer support for open source software. Technically anyone can build a company on top of the software and start providing support.
Eg. the rest is optional and doesn't come with the same guarantees as the base network.
I don't hate cryptocurrency personally, but it's not hard to see how 99% of users would prefer "the rest" implemented well over a properly transparent blockchain.