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Crypto has no legal business model and no road to one. AI does.
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You're gonna convince people there are practical applications of cryptocurrencies outside of grift and crime when they actually see them and find them useful in their own lives, and not before.
Yes. Stablecoins are a proxy for real world usage.
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I'll be the contrarian and say: crypto good (the scammers have had their day and moved on), AI bad (this is where the scammers moved on to)
It's laughable how you think shills have so much more power to make or break a technology and give it practical real world applications, merely by hyping up a technology, even more than the actual scientists who have dedicated their lives to it, and the companies like NVidia who produce hardware for it, and the companies like OpenAI who produce software for it. You really have a lot of faith in shills.
By your logic, were shills responsible for the success of the Internet too, and not the people and companies who designed TCP/IP, web browsers, ssh, ajax, network routers, wifi, cellular, mobile phones, smartphones, etc?
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The post you are replying to did not state that they were. You can easily look up practical application of cryptocurrency by looking up stablecoin usage over time.
"stablecoin" is a misnomer. Perhaps they should be called temporarily stable coins, because they tend to fail under pressure. https://chainsec.io/failed-stablecoins/
It is only a question of time until it fails like everything else does, but so far so good.
Molly White’s latest project, tracking political contributions of the cryptocurrency industry. White’s data shows these PACs dwarf even much larger industries in this political cycle.
> White’s data shows these PACs dwarf even much larger industries in this political cycle. How does it show that? It suggests there was 200 million raised for the 2024 election, but that doesn't seem to be in comparison to anything. The US government borrowing alone is multiple trillions per year; people would be expected to spend way more than a few hundred million to influence it. Presidential campaigns alone can r…
I'm not familiar enough with the details to claim that the numbers in OP take the #1 spot but they're definitely in the top 3 and that's very significant as we've seen with the recent change of tone from parties
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> White’s data shows these PACs dwarf even much larger industries in this political cycle. How does it show that? It suggests there was 200 million raised for the 2024 election, but that doesn't seem to be in comparison to anything. The US government borrowing alone is multiple trillions per year; people would be expected to spend way more than a few hundred million to influence it. Presidential campaigns alone can r…
Here's a breakdown by industry for 2024: Finance largest at $50mm, healthcare at $30mm, agriculture at $20mm. I'm not familiar enough with the details to claim that the numbers in OP take the #1 spot but they're definitely in the top 3 and that's very significant as we've seen with the recent change of tone from parties
I was looking at https://www.opensecrets.org/industries because this site inspired me, it suggest finance/insurance/real estate spent $1,249,076,508 so far in the 2024 election cycle which seems a lot more plausible than $50 million. The risk-reward here suggests industries should be pumping billions into elections. The payoffs for regulatory capture are huge and the crypto people are novices compared to anyone else in finance.
Molly White’s latest project, tracking political contributions of the cryptocurrency industry. White’s data shows these PACs dwarf even much larger industries in this political cycle.
I'm not sure the data supports crypto spending more than other industries in lobbying, I think they are just doing it via a single PAC rather than spinning up dozens of targeted PACs for each race.
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Crypto has no legal business model and no road to one. AI does.
"Cargo ship owned by JPMorgan Chase seized by US with 20 tons of cocaine"
https://edition.cnn.com/2019/07/10/business/jpmorgan-msc-gay...
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Crypto has no legal business model and no road to one. AI does.
Depends on your worldview doesn’t it? For me, having a transaction system that isn’t controlled by either my own government or corporate America is useful. If it’s not useful to you then you don’t have to use it.
It's unbelievable how underrated this whole view is especially in a place like HN where I'd expect more liberal people.
Even this property of crypto alone is a single reason to support it, let alone all the other tech that can be built on top of it.