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Why All Cryptocurrency Should Die in a Fire

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Re: Why All Cryptocurrency Should Die in a Fire

#11

Post by Comevius »

ogogmad wrote: post #5

This might be a purely stylistic criticism, but it's hard to take articles seriously when they lack professionalism: "Why all cryptocurrencies should die in a fire". I can see the editor smiling and rolling his eyes when making that title. It was cute at some point, but now it's painful, and it's unprofessional.

It's a casual interview, not a dissertation. Beside the tone is the right one, crypto does a lot of damage to the planet and society for the benefit of a few already wealthy people, while pretending to be doing the opposite.

Re: Why All Cryptocurrency Should Die in a Fire

#12

Post by bshepard »

Comevius wrote: post #11
ogogmad wrote: post #5

This might be a purely stylistic criticism, but it's hard to take articles seriously when they lack professionalism: "Why all cryptocurrencies should die in a fire". I can see the editor smiling and rolling his eyes when making that title. It was cute at some point, but now it's painful, and it's unprofessional.

It's a casual interview, not a dissertation. Beside the tone is the right one, crypto does a lot of damage to the planet and society for the benefit of a few already wealthy people, while pretending to be doing the opposite.

Surely, yes, but the whole social metasystem does a lot of damage to the planet for the benefit of the few, so why scapegoat one part of the system?

Re: Why All Cryptocurrency Should Die in a Fire

#13

Post by ogogmad »

Blockchain cryptocurrencies rely on the economic incentives of PoW (or something similar) in order to function correctly. Has anybody modelled how the miners might behave under varied circumstances? So far, the incentives seem to be working correctly, with no double-spend attacks happening.

Re: Why All Cryptocurrency Should Die in a Fire

#14

Post by jimbob45 »

lordofgibbons wrote: post #10

I will gladly stop using Monero if someone can tell me how to privately transact over the internet without CC companies (and others) spying on me and selling my data. Until there is a better solution, I'll keep using it.

Prepaid debit cards?

Re: Why All Cryptocurrency Should Die in a Fire

#15

Post by yowmamasita »

jimbob45 wrote: post #14
lordofgibbons wrote: post #10

I will gladly stop using Monero if someone can tell me how to privately transact over the internet without CC companies (and others) spying on me and selling my data. Until there is a better solution, I'll keep using it.

Prepaid debit cards?

How do you buy these without giving any personal information?

Re: Why All Cryptocurrency Should Die in a Fire

#16

Post by Retric »

ogogmad wrote: post #13

Blockchain cryptocurrencies rely on the economic incentives of PoW (or something similar) in order to function correctly. Has anybody modelled how the miners might behave under varied circumstances? So far, the incentives seem to be working correctly, with no double-spend attacks happening.

Double spend attacks have happened, but having lots of hazing power doesn’t prevent them. A software vulnerability for example can render unlimited hashing power pointless.

Re: Why All Cryptocurrency Should Die in a Fire

#18

Post by throwaway4good »

I think the best criticism against crypto currency is that it is essentially “regulatory arbitrage”.

Things are allowed inside crypto that is not allowed in the normal world of finance.

Ie stable coins: promising people 20% on their savings account by running an obscured ponzi.

Ie pump and dump.

Ie insider information. Insiders on exchanges buying up coins they know are going to be listed.

Etc etc.

(And proof of work of course is the key enabler as it allows those who are running things to hide their identity.)

Re: Why All Cryptocurrency Should Die in a Fire

#19

Post by pontus »

lordofgibbons wrote: post #10

I will gladly stop using Monero if someone can tell me how to privately transact over the internet without CC companies (and others) spying on me and selling my data. Until there is a better solution, I'll keep using it.

Well, if you want true privacy you should try Zcash.
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